blue, maybe we will have marijuana. remove the federal prohibition. >> i would like to sit next to jeff sessions. stuart: peter morici, jonathan hoenig, thanks for great performance. live action news. ashley and liz, you didn't do bad either. neil, it is yours. neil: president arriving in canada. a short-lived venture a little more than 18 hours before he is out there with a big summit with the north koreans. he alienating a lot of folks, so-called g6 plus one. alienate some of our colleagues there. but the fact of the matter he is brought attention to trade issues and the like, according to a lot of people that crunch the numbers benefiting a lost allies. that is way it has been many, many decades, before his presidency, before the last presidency, before the presidency before that.

multiple premiers and prime ministers across the world. he is shaking up the status quo as he arrives in quebec, what will be hurried events. the one with with the emannuel macron. he was running late. the french press whipping up on their leader, that he is acting like a lapdog with the president united states. that had nothing to do with the canceled event. let you know how each leader has to respond to their own constituencies. blake burman, with the latest what happens next today. sir? reporter: neil, you will see here momentarily president trump exit marine one. we've been watchessed advance teams on the ground in quebec, 80 miles from where we are. the president landed an hour ago. he had to take a helicopter flight up to where the actual g7 is taking place. the president is well behind schedule this morning. he walked out of the white house

late earlier today. he stopped and talked to reporters, essentially an impromptu press conference for those on the ground there on the south lawn. he was supposed to meet with emannuel macron. the reason why i bring all that up. the reason he was supposed to meet with emannuel macron 11:40 local time but that is not happening as president yet to exit marine one. the white house says they're working possibly getting together for a meeting between the two at some point during the summit. you can connect the dots on this one, neil, should you choose. emannuel macron, justin trudeau have been harshly critical of the president over the last week. it has been one week, the united states, president said they would institute steel tariffs, 25 and 10% on not only mexico and canada but also european union as well. macron saying yesterday, that if they have to put out a statement here at the g6, that would

isolate the united states, then so be it. he also suggested right now that the united states has different economic values than the other six. as you said, some have suggested that this could be the g6 plus one, with the one being the united states as the outlyer. when the treasury secretary steve mnuchin was here about 10 days ago to meet with other finance ministers that is exactly how it was characterized t was described to me nothing was sugar coated to mnuchin as the tariffs were being implemented. fast forward to a week now. now you have president trump on the ground here in canada. you've got a delayed meeting, a lot of criticism coming his way. the president pushing back saying, oh, by the way, you are not innocent victims in this, even though you are our allies. the president saying you have put up trade barriers, you have put up tariffs as well. we need to level the playing field. i believe you will see the commander-in-chief step out of marine one right now.

neil, i will send it back to you. neil: you know, blake, you know the president's schedule, the way he goes about things far better than i, but is a fairly punctual president if my memory serves me right unless on certain days he doesn't feel like being punctual. reporter: to answer that, maybe he didn't feel like showing up to the thing on time. the white house said the president wanted to be here. as it got closer they shortened the trip, cut it off by a few hours on the back end. they say, the reason for that, oh, by the way, he has another meeting half a world away in singapore with kim jong-un. it is entirely possible neil, the president was on the phone, making phone calls, prepping for that trip, having other meetings. that is a reason he could be late. if he was late, why did he stop to talk to reporters for 15, 20 minutes or so if he was going to be late. he is not here on time. one of the ramifications of that, a meeting between himself

and french president emannuel macron at best has been delayed. we'll see how things shake up. neil: body, it didn't answer to me. if you've been to a cocktail party, your significant other eager to get the party, you are not be, suddenly you want to rake the lawn that doesn't need raking. the president didn't appear to get any rush to leave the event, any rush to leave the white house and any rush to get to that meeting for macron, whatever reason. so that meeting was put off. i don't know, coincidence i fest. reporter: in the words, in the words of my cousin ricky who is the authority on this stuff, i guess, he has lifo policy, last in, first out at family events. that is the what you're seeing from president trump. last in, first out, say hello, bye-bye, off to singapore. neil: i just thought i did that with my in-laws. thank you very much, buddy. always good seeing you.

this is weird. this president is pretty punctual president as they go. unusual developments. we're looking at time, other makes, leaders, they will meet with, feel they're on one side and president is all by himself on the other which seems the way this president likes it. "dow jones newswires" chief editor glen hall is with us, susan li, real clear markets editor john tamny. john, the approach the president is taking, shorter trip as it is, he made it shorter still. how is it going to go? >> i don't think anytime goes well for the united states in this scenario simply because because the country most open to foreign goods winner. it's a fully open market. it is always in balance to the rest of the world. people earn and an coy america. people do best when serving

needs. people do best when dividing up work in the world. trump is wanting to put up barriers to balance trade. that doesn't help americans. it hurts them. neil: flynn hall, say what you of the president's response, at this tit-for-tat for trade barriers he sees, one thing that comes through with the sort of revelations, a simple fact a lot of countries do have sweet deals with us. i do not where it started it. i'm not saying remotely as bad as chinese rig their currency, rig their markets and rig their economic numbers i suspect, but it does wake people up to the fact that i didn't know canadians do this. i didn't know that the european union does this. i think that is what he is trying to get across here. now the method might be very stark, to our trend, kind of rude, but it creates a global debate, doesn't it? >> there is definitely a change at that our allies and trading partners are uncomfortable with, to say traditionally the u.s. has championed free trade and was willing to lead by example.

in this case, this president is saying we've done that long enough. and the playing fields are still not level, so, i'm going to lead by different kind of example f you're doing it to us, we'll do it to you, until we all come to the table, we find a fair deal. as far as he is concerned the deal fit fair right now. neil: susan li, as we're looking at this, we're getting word from french presidency officials, emannuel macron just wrapped up a meeting with angela merkel of germany saying she has been looking at mechanism to discuss current trade differences with the united states and prevent future ones. so in a weird way they are moving on this i guess concern that it not escalate but they might be too late for that but what do you make of it? >> as macron said with the press conference jed, canadian prime minister justin trudeau, could be the g6 plus one, if the president doesn't want to be at

these trade negotiations and find better deals with his trading partners. we've also seen a lot of relations break down in particular. canadian prime minister justin interested de, we interviewed him a couple weeks ago, you sensed frustration, they're on the last gasp trying to find common ground and his patience was wearing thin. i think it all broke down. that was the last straw, when the tariffs were implemented, aluminum and steel just a few days ago. neil: john tamny, do you think the president is sending a message to the chinese, maybe to the north koreans, look how i treat the people on my side, imagine how i deal with you. >> i think that is his message but it still ignores we already have the sweet deal. we gets the world plenty without all these taxes that other countries heap on. let's remember u.s. companies are the most valuable in the world. by definition they are in the

global economy. so u.s. companies, precisely as americans are big buyers, u.s. companies get to sell to big markets around the world. why would we mimic what poorer countries do taxing our local consumption? neil: unless they're deemed to be doing to us, you can make the argument, glen, i definitely see what john is saying here, tell that to lumber makers in the united states or those simply trying to sell wine in canada during the obama years it, can be an uphill battle. i'm not saying that justifies a null-blown trade war with some of our closest friends, it harkens back to what you and i were chatting about at the outset this is about sending messages and reminding people, not everyone plays fair. >> we're not a full-blown trade war. let's be careful about that, right? neil: absolutely. >> we're talking about aluminum and steel. it is not a major part of the economy. it is sending a signal and very strong one. it has got everybody talking. if that is the president's

intention now it is working. the risk is, of course this isolationism grows. as the six in the g7 are moving towards each other, so too are russia and china moving closer to each other amid all of the antagonism coming out of the white house. >> you know, susan, when you were speaking with the canadian prime minister, he hinted at something that he echoed again just yesterday, that you know, donald trump's not going to be president forever. we deal with different parties and presidents and much like our president's deal with different prime ministers and parties as well. >> yeah. neil: so nothing is forever but he was more or less, it seemed to me in that conversation with you, very enlightening he is waiting out trump trump. >> well. he also has to face an election as well. neil: true. >> some polls put him behind the opposition conservative party. i feel him talking tough to is playing to his voting constituents. as you pointed out in the

introduction to the segment. he has to play to canadians. when you talk about u.s. steel and aluminum, the market there, basically the main market for canadians, aluminum and steel, right? they know who big brother is, where the big market is this is opening to tariffs in the future. let's say canadian lumber in the future this is something that obviously the can fadian prime minister has to take note of and fight back on. neil: yeah. i swear that the president, our president trump was listening to a lot of that interview you had with trudeau and stewing on some of the sort of dismissive comments he made. chose days later to do all of this. i don't know, susan. timing is weird. thank you very, very much. the president has arrived in canada. they say fashionably late. i just say late. it has worked to my advantage in many a party i didn't want to go to. this is a party the president is not eager to go to. he has another one, bigger one, paying much more attention to that will be thousands of miles away from this one while they're still meeting, he will be flying

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neil: all right. you're watching part of the welcoming ceremony where he and her husband, take photos with the host country leader. in this case that is prime

minister trudeau and his wife. then the group all together. there are two group photos. one in the very beginning. then what i call the silly one at the end, they have to don an outfit unique to the local. in canada i don't know what it would be. you can see prime minister abe of japan also coming. they dot group shot here. but one with the president of the united states on sunday. he will be long gone, on his way to singapore at that time this is part of the pagentry, someone telling me looks like the opening of "the bachelor" but it is not. what they're doing here, this is all part of the diplomacy here. and glad-handing and being friendly and avoiding any troubles even though ahead of this there were troubles calling it g6 plus one, with the united states against the world and against these other countries. they're trying to come up with ways to satisfy donald trump and

avoid future trade impasses. angela merkel, i think that is angela merkel there coming in. get the read from "real clear politics" cofounder, editor, tom bevin, very good on all things social diplomacy and style, all of that as well. tom, when you're looking with all of this, there is a bit of pomp and pagentry to some of these things. or at least diplomatic courtesies here. along comes donald trump, whether people like him or hate him, he changed, upended all of that. they don't know what to do about that or him, do they? >> no, they really don't and it has been a struggle for a lot of these foreign leaders. you see trump on one hand, macron comes to washington. they're best buddies. he leaves. now they're in a fight. same with trudeau. trump has absolutely no compunction taking to twitter and absolutely blasting them on trade. he does not speak in sort of the typical diplomatic language.

there are no niceties. he gets right to the point and look, he is trying to reset the, reset the relationships around the world on trade. that is something i think is chafing a lost leaders. we're seeing their reaction to it. neil: you foe the world has been very critical of this president, taken on a lot of mannerisms, even style of this president. if you think about it, tom, on the very nasty responses we've seen from emannuel macron of france or trudeau of canada, they have come via tweet. >> indeed. i mean, look we saw that during the campaign. a lot of people are flummoxed by trump. their response is, hey, we have to fight fire with fire. only way to get through to the guy. neil: right. >> and they are also playing this sort of, you know, there is a closed-door game and then there is the open game, social media game. they're sending messages to their populations but other leaders around the world publicly and privately. you kind of have, that is the

way you have to engage i think. they believe that is the only way to really press their case. neil: you know something, i'm giving these other leaders, as well of our own the benefit of the doubt on this i think some of them did not know about the way they handled trade or the way they treat in this case u.s. dairy farmers those to lesser extent in the lumber community and we fought that issue with the canadians but i don't think present leaders are aware these decades-old deals are out there and they tick a lot of american businesses off. >> they do and i think, look, part of this too, especially vis-a-vis china and europe and canada as well, there is public support and privately in the business community say, we understand what trump is trying to do, we support what trump is trying to do, we don't like the way is is going about doing it.

they don't like the fire and imposing tariffs but they do fundamentally understand, many agree, some of these relationships, trade relationships need to be reset and recalibrated. they are not necessarily fair and haven't been fair for decade. neil: emannuel macron and his wife meeting canadian leader and his wife. we're told that donald trump is right behind them. melania trump could in the make this trip. we're finding out a little bit more about her condition after that operation a few weeks back. apparently it was a big deal. it was involved. took better than four hours for surgical procedure. she can't fly for a while because of it. did that surprise you? >> it did. this has been a cause of much speculation in the media, even some wild speculation on the part of some of trump's critics and other folks. but it was, it was unusual that she disappeared from sight for

21, 25 days, something like that. wasn't seen, wasn't heard from. we saw her recently. we were told this was sort of a regular procedure and even outpatient procedure. it turned out to be much more than that. neil: switching as we see the president now getting ready to meet the canadian prime minister, the local press there, and how they view him in canada, they have got a prime minister susan li pointed out is not very popular. in this president in our country has higher approval ratings. what do you make of the chemistry here, how canadians are reacting to all of this? >> it is interesting. i do think certainly there is a sense, trump viewed from abroad, he is to the very popular. he is not popular with canadians. i don't think they necessarily take kindly to him, sort of getting in canada's face and their leader's face on trade. that being said, some of these other leaders from around the world are not that popular. you mentioned trudeau has seen his stock, when he was elected,

he was golden boy could do no wrong. he suffered gaff after gaffe around the globe and his popularity within his own country is plummeted. a bit of a mixed bag not only for trudeau and some other leaders. neil: thinking trudeau and president had sharp exchanges via twitter, about the complaining about the president's position, supposition on trade, what have you. but, in person i wonder how that goes? the president clearly was not pleased with the way trudeau responded. trudeau wasn't pleased with now the president leaving so early from this summit. i guess there about guaranties a little more than a few days ago that the president would stay for the full summit and not leave early. paying all this prompted this change in plans here. but how would you put the relationship right now? >> not good. look, trump is notoriously mercurial. he could be best friend with you one day and blasting you on twitter the next day. neil: true.

>> he could turn around as with the base of bob corker, put him on air force one fly him around. trump is transactional in his relationships. that is not to say if they patch things up they could be best friend and trump could tweet something out what a great guy he is doing and how he is doing. trump certainly manages, his diplomacy is based on personal relationships. it is about how he is being treated by foreign leaders. if they're nice to him, he is happy to be responding in kind but if they're not he is certainly again not afraid to break out the stick and put the carrot away. neil: yeah. he can tweet some nasty things about others you better not do the same in reverse. tom bevin, great insight into all these players on the global stage right now, albeit briefly for the g7 summit. republican congressman from the beautiful state of south carolina, joe wilson. joe is among a small group that went to north korea.

this goes back to the early days of the bush administration. i'm talking the last president bush here. there were a lot of concerns he had then and still has now about dealing with a country that you still intrinsically can not trust. i think i have got the gist of that, right, congressman? >> you really did, neil. honored to be with you. neil: what do you think now? this president to avoid the problems and pitfalls, i have to give you credit you foresaw with the bush administration, not taking anything away from them you're worried about potentially with this one? >> i'm really pleased we have a president who understands the opposition, the enemy of our nation. he will stand up truly for the american people and, and, i just have such faith in his team. with mike pence. we have -- neil: and you didn't with president bush? that was a pretty -- >> hey, this team is world class. with secretary mike pompeo, ambassador bolton, ambassador

nikki haley we have a team in place that is world class. neil: how do you know they can't bed snookeetd two other team weres finest diplomatic teams at time. >> we've learned from that. we have a president that makes promises, keeps promise. why i believe kim jong-un agreed to this meeting conference. neil: your concerns back, you know in 2003 i believe when you were, talking about it was that you have essentially a state that has no money, bankrupt. that -- >> yes. neil: obviously, you didn't say this, i'm paraphrasing here, that it is in it for the money, it needs help, we're a way to provide that but president trump already made it clear this isn't about a lot of money to us or providing a lot of money, investment incentives, i guess by that means given

encouragement with private enterprise to do something there but what do you make of that distinction? >> the distinction is, that unlike other administrations that gave money in advance, this president's not. he has indicated he will actually walk away. if we don't have denuclearization, the removal of nuclear weapons in north korea, we will walk away but if we can have an achievement sanctions would be lifted, a great opportunity for the people of north korea, even for the current government to have what we see of the extraordinary success of south korea. neil: all right. but you put the whole north korean government in perspective at the time but said the foreign ministry square during your visit there is adorned with portraits of karl marx and vladimir lenin. we met the foreign minister at time and all of these guys, i could go on and mention them, we're haters.

they didn't flip over us. they didn't remotely flip over us. i would imagine the characters have changed but that attitude has not, so what do we do? >> hey, we can make progress and president trump's done it. the release of the three hostages, that would be unimaginable. we're only talking about a year since otto warmbier was killed on june 19th. neil: right. >> how far we've come, neil. there is substantial progress. to me with prime minister abe yesterday without the thought there would be nuclear, excuse me, missiles being flown over japan, how far we've come just in the past month. neil: so you would want to verify whatever promises they're making to other administrations? they had promises in the the caf the last go round were broken within a matter of weeks. so we would have to keep on top of them from the get-go before any checks or money is issued, right? >> absolutely.

we learned about the fact verification with the iranian deal. promises made, problem misses kept by donald trump. that is we would have full verification without advanced notice. we would be able to identify sites. then the persons who are doing the verification would be very skilled and talented experts in the field of nuclear capability. neil: congressman, you had very prescient warnings then. a lot of people on either side of the political ledger to hear your concerns right now. good seeing, you sir. >> thank you, sir, for your service to our country. neil: be well. couple events we're covering. going to formally get this going. there will be a group photo shot, not follow-up with the outfits and, at least for the president. he won't be there for that one. they get into the brass tacks on a lot of this stuff. there is limited time here already. these things last one day. the president is slicing one day off his schedule for it here. we're on top of that, what might be said or argued on both sides

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so you can be less concerned about your retirement savings. talk with your advisor about shield annuities from brighthouse financial- established by metlife. neil: all right. following the developments in canada right now, and whether we're alone so far with other of our six closest economic friends on the planet not wanting anything to do with us. they say we don't want anything to do with if you're in the middle of that, seeing that play out on the global stage all of sudden get worried, this is not the time to be in stocks. to my friend jack otter, who says, be careful about taking that view. associate publisher at "barron's," jack otter. your view, be careful getting caught up in the headlines, right? >> much more than that.

totally, utterly ignore the headlines. think back in history to all the times anyone could have sat, this is terrible time to be invested in stocks. 2018 when all heck was breaking loose. that was a fantastic time to be buying stocks -- 2008. we can't time it. don't try. this is long term money. really warren buffett, yeah he is a good investor but what is the smartest thing he ever did? not selling. neil: yeah. >> time is on for your side, retiring next year, need money next year, that money should be in cash. obama hated america, would destroy capitalism. if you sold when was elected, bad move. remember when trump was elected, people it had the sell signal. that doesn't work either. neil: one thing i learned a lot from pie italian dad, neil, whatever you put the same money into this market month in, months out. >> great advice. neil: for as long as you live. he advised me with that as

teenager. would help me along the way, stuck to that every single month of my life since. i'm only 33 years old. >> wow, you must have a very tough job. neil: i think you're right about that. calm down, go long term, it will still be your trend and friend. >> yeah. neil: let's talk about a little bit what's going on. a lot of people don't know this, don't know enough what they will need in future years but lo and behold i read in your sister publication, "the wall street journal," that net worth is just passed $100 trillion. a lot of that buoyed by market gains. a lot of it by real estate. those same people might say i don't need to listen that closely? >> six people have 99 trillion. the rest of us are splitting it. a lot of people are very unprepared for retirement. larry fink just recently said to us, that will become the number one crisis in america if doesn't happen, ceo of blackrock.

he has been saying it a lot. this is a very big issue. i don't think people should get hung up on the fact they don't know their exact number. nobody knows the exact number. neil: what you say the exact number, with are you referring to? >> this study came out yesterday from bank rate, some huge percentage of americans don't know hough they will need in retirement. well, neither do i, right? it's a guess. i would look at your fixed costs. if you have a mortgage, you know, mute be able to guess what your doctors bills. if you can't pay property taxes, you're retired, probably time to move. for the most part you don't know for sure. neil: i think people are a lot smarter than you think, though. >> exactly. neil: they are hoping and praying that they won't have problems in retirement. they have much more of an idea people give them credit for. >> one way to look at it, people miss, don't look at number,

think i will take a little bit out every year, and hope it outlives me. think of it as a source of income. so the general rule of tum is, you can withdraw 4% going up with inflation, 4% of your nest egg and probably, you probably won't outlast it. the average person in this bank rate survey said they would need $650,000 to retire. well, that is $26,000 a year of income. on top of your social security and everything else. so that is how you should look at it, 26, plus social security and pensions enough? if not, you need more than 600,000. neil: people are looking at assets appreciating, look at 401(k), would you, or value of house, their neighbor's house sold pretty good chunk of kang when so depressed a decade ago, don't go by that right? >> you can go by that to a certain extent, look at it as source of future income, rather than looking at it as just money you can grab anytime you want it.

neil: rule of thumb real quickly, long, long-term trend is your friend, whatever you put in dollar-cost-average, stick to it, that's it? that is fairly reliable strategy. >> yes, very, very important. don't ever say this isn't the right time to invest in the market because you don't know. when it feels awful it is probably the best. one more thing that people don't think about is their human capital. so really the most important way to prepare for retirement is to keep a good, steady job. that is not easy. with all the disruption going on in all industries, mine very much so, but others too, you need to be thinking a step ahead. what happens if my job disappears? i tell young people, never ever say the words, that isn't my job. when your boss tells to you do something, do it. some day your job might go away. if you always said yes when people gave other assignments, that could be your future job. neil: make yourself invaluable. >> exactly. neil: thank you, my friend. always good advice. jack otter. let's get the read of all

things technology right now. if you have a lot of that in your portfolio you've not been worrying too much of what jack has been saying although you keep it in mind. we have market watchers with us. apple was one of the great riders up. mark, the great concern we hear anecdotally apple is warning of supply issues and other things, hinting maybe they have other problems. so this stock is maybe due for a correction. i heard that one before. but how serious is this? >> well, neil, i would share that same, i heard that before as well because we have, many, many times. i european obviously the biggest concern around apple is the fact that it generates half its revenues from phone sales. anything tied to any kind of forensic analytical work that can be done to try to uncover when or if the some day comes when the phone sales are likely to slow, in the absence of the other half of their revenues coming up, usurping what was phonecalls it is going to be a

problem for the stock but in the meantime of course it is generating enormous cash flows. still trades very reasonably when it trades with tech peers. we've seen this before and it doesn't necessarily mean the beginning of the end. we know every time we think they're at a point no one will re-up to a new phone they find a way to draw in a whole new pool of buyers and replenish otherwise willing to stay one more cycle with the previous phone. not particularly disturbed. very short term news, only taking less than 2% off the stock for its high. neil: for the time-being. i look at these type of stories, i always wonder if i'm missing something here? apple was specifically warning suppliers up to, up to 20% drop in much-needed parts, iphone parts. you could flip that around saying demand is dwarfing supply of parts available as well. you could look at bullish side of that. how do you look at it? >> well i think this is just

another of the early summer give and take among supplier and supplier and biggest elephant in the world needing those parts. last year we had some analysts come in and give us some channel checks, said the same thing. apple had a nice pullback. it was a great chance to buy. traditionally, neil, one of the most consistent plays out there is to buy apple on pull back anytime between now and september leading up up to the w iphone announcements. so i think this is just more of some give and take, not saying that they're going to sell 20% fewer iphones in the fourth quarter. i think that would be ludicrous so we're buyers on the dip. neil: mark, technology in general, i think anyone who has written this and gets nervous when it keeps performing so well, you find an excuse to hold off or sell or lock in the profits or gains that you had.

apple may be chief among them. people have been saying same about microsoft, in and out of all-time highs. what is going on with amazon, legendary, apple off the highs, if you chase just those issues, you are running far ahead of the pack, so they get nervous and to j.r.'s point, this is the time of year people choose to just lock in stuff, right? they go away in the summer, right? >> well the old adage, sell in may go away. neil: right. >> but the fact is we know tech has been the best-performing sector, certainly was last year and continued to lead this year, 13, 14%. neil: i always see technology to be in portfolio, these are the names, these are certainly the leadership names but you don't want to time this stuff, you can't anyway, but if you trusted technology and the fact it will play an instrumental role in society, you stick with it, or do you? >> well i think you do. it is a big component of the economy. it is 26% of s&p 500. there are terrific iconic brands

in there with wide moats, like two, apple and microsoft to be a couple others as well, but at the same time you shouldn't ignore the fact that there are 74% of the market comprised of other industry sectors. financials are the second largest one. neil: you're right. >> i think other opportunities in the market today represent equal or better value than technology does, still given macroeconomic conditions that exist at the moment, lead me to believe, if tech should ever take a breather these other sectors could pick up the slack. neil: in the middle of all of this, dr, we got word that facebook keeps creating its own bad press, revealing a bug, made vulnerable 14 million users on their private phones to the whole worldwide web. there is staggering number, to be sure, but better than 2 billion facebook users. i'm not minimizing that. it's a huge deal or fuels a narrative that facebook can't

get out of its own way, that there is more trouble to come for face back? >> i think the problem comes, neil, that get negative press, do some things where you haven't done your due diligence to protect as well as you said you were going to, we all have to realize we're getting a free service from them. neil: right. >> in exchange for their use of the data in certain ways. when they don't do that properly, like they told us they were going to, every time something like this literally was a bug a glitch, there was nothing malicious happened here, every time it comes out, it is going to be news. if you look at the stock it is back up a buck on the day. i think these kind of things people already understand that we know we have somewhat of a social contract with facebook. they have said they're going to get bert. i'm an owner of the stock. the company is an owner of the stock and when you make 49% year-over-year revenue gains, when you're making 2 1/2 x your

cash flow from 2015 to 2017, that's why in answer to your question to mark you've got to stay in these names because they are winning the big game at a huge scale. neil: all part of the mix. guys, thank you both, very, very much. >> thank you, neil. neil: have a wonderful weekend. what is it with mars? i don't mean to digress here. this is fascinating. latest activity we've seen on mars and this quest for life and ingredients for life. this isn't, you foe, the phoenix desert here. this is the surface of mars and a lot of the pictures and data that has come back to us, hints at least building blocks of life on mars. we have a rocket ship on the way there that will actually bureau into the planet to look for life. so we're not giving up on this. there is a reason for that. there is a reason the rocket ship doing it is american. a lot of americans are saying it should be more american rocket ships. it should be us leading the way,

after this.

♪ neil: you know sometimes we need an out of this world reminder that there is a world beyond us, many worlds beyond us, which we lack obsession but maybe should obsess. they take our mind off

ourselves. one involves the planet mars, and what this curiosity rover, like a lunar rover but on mars, what it has been dig out last six years. it is slowly traversing the martian surface here. nasa released fascinating findings from the data that came from that steady but reliable little glorified jeep if you will. quoting from the nasa report curiosity show that the gail crater was habitable around 3 billion years. close to conditions on early earth where life evolved. the question whether life originated or even existed on mars is a lot more on port tune, we know organic molecules were present on its surface at that time. other sciences pouncing on that said, maybe we were not alone. maybe we are not alone. to astronaut and best-selling author clayton anderson.

clayton, that that is a remarkae finding. it might explain why we keep visiting mars, including this next capsule i guess will burrow into the planet mars. what do you think about all of this? >> we as humans are often times hopeful we'll find life elsewhere in our universe. the fact that we discovered these building blocks of life are 3 1/2 billion years old gives us hope. anytime a space advocate like me point to the population on the planet and give hope for space, further space exploration and i'm all for that. neil: in your book, taking the question about man's inherit need to find more or seeking more. there is nothing wrong with a lot of people joining the same fascinating party but we've kind of limited ourselves, not what we're doing on mars and unmanned

missions are not chump change but we were not what we were and we don't commit what we did. what happened? >> i think we have a lot of competing priorities these days. in the apollo days, two cents on the tax dollar went to the space program. we're less than half a pen if i goes to the same space program. if we get it up to the apollo levels think more we could do. that is for people at higher pay grade than me to decide. neil: i don't agree with anyone higher than you. mercury and gemini apollo years, the russians were our great focal point. we were doing this to beat them or not them to have the advantage. now we learn china, i guess our modern-day foe, i'm not europeaning to trivialize this is exploring space in aggressive manner.

launching a rocket that would go to the dark side of the moon, you would think that would be enough to rethink our passive approach and get moving? >> i agree and i hope we are. competition is a great motivator. the fact chinese have growing space program today is competition. i would actually like to really see us work together with them to do some great things. i'm a firm believer if we work together in space we don't fight each other on the ground. so that's a premise we ought to consider. neil: gene cernan. great astronaut, apollo 17 commander, used to come on this though frequently, he talked about the fact that incredible unmanned missions were and are and information we get from them including this from this rover, you need men and women out there, you need them to push boundaries out there. do you agree with that? >> absolutely i agree. the only way we can really truly

explore space further with a combination of robotic technology and humans. while robots can bring lots and lots of great things to the table they can't bring that ability to assess real time and change plans on the fly when something happens or you see something or come across something you're not aware of. so, i think we all have to come to the agreement that it is going to take both, robots and humans. neil: we hint at tease a lot about the possibility of life or building blocks on mars. that is relatively close in our neighborhood. i know it goes back to the carl saying again view that playing out -- s ag en, playing out possibilities and numbers, live is out there everywhere, is it not? >> agree. i like to tell people the universe is huge pizza. we're on one crust. we've gone to the moon, that's it. maybe on the opposite crust is

another species doing exactly type of things we're doing. in order for us to meet at the pepperoni in the middle, it is going to take i am tie, it is going to take money, and it is going to take expertise. we're early in the stage of that process. neil: here is what made you a great astronaut, and great author, you're analogies, taking quest for space i could understand, pizza. i view that as an honor. clayton anderson, thank you very much. that is a good perspective. it's a very big pizza pie. we should look around. it is a big neighborhood. we'll have more after this. .

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. neil: all right. the corner of wall and broad, we're up. a remarkable week for the markets if you think about it. every type of angst or fear you can throw at them, they were up. prices going up, up, up, up, trade tensions are going up, up, up, up, and the g7 or the g6 plus 1, we are the one all on our own. one of the nastier g7 summits i can remember where the u.s. is at odds with the world. but again, markets don't seem to care, so should you? fox business' charlie gasparino, the "wall street journal" associate editor john bussey. it is remarkable. markets just whistle past this?

what to you think? >> the markets may have been expecting this. neil: yeah. >> we should have, given all the language that has preceded it. all the tweets, negative comments about canada and trading partners in britain. donald trump is there now and saying the same things. he's likely to leave early tomorrow, this hadn't happened in this context before. neil: and i remember, too, john, people forget as recently as two days ago the president would shorten his g7, he said no? but obviously things change. >> canada is next door, not that far away, it's a short trip from washington and plenty of time to get to singapore by the 12th next tuesday. these things are criticized as talking shops in the past, but also still really important because you need these allies, the countries around the table for a lot of the rest of your agenda. neil: what do you think? >> first of all, markets are

imperfect mechanisms, short term for interpreting economic or fiscal policy or anything. neil: are they sanguine, a little cocky about this? >> investors are growing comfortable with donald trump, for now. i think sophisticated investors, i talk to guys on the street all the time. they think he's smarter than what we say sometimes on the air about him, where we criticize him -- neil: you're a hater. >> i know, i'm going to tell you what they're telling me. neil: right. >> he's better than you give him credit for. neil: what do they base it on? the economy is doing well, markets are doing well? >> deregulation, lower taxes, particularly in the corporate tax. taking small steps to dismantle a big mandate known as obamacare. the trade stuff, it seems like he's going to cut a deal with china, maybe or avoid a trade war. he's allowing zte to get away with near murder. neil: how do you know? >> i'm telling you the herd

right now. imperfect, the herd mentality. the herd right now is donald trump is one of the best things since sliced bread. that's the herd right now. neil: john, let's play this out now, let's say progress is slow with our friends and they're already talking some of the other attending, finding a way to avoid escalating tensions with donald trump. but not caving into any of the demands for the time being. where do you see this going? >> so far there hasn't been any success with china, right? a threat, retrenchment, threat retrenchment. neil: no trade war yet. >> no trade war yet. neil: but china did have the $70 billion offer to buy more u.s. goods, was going to be agricultural items. >> that's right, we threatened more tariffs, nonetheless. you have a lot of tensions with europe. so look, how much of this is going to escalate. how much of this is some theater that goes on in

negotiation and trade? we don't know. why is it that donald trump wants to bring russia back into the g7? we're not sure. perhaps the mueller investigation will tell us why that issue was -- neil: he was kicked out. it's a big deal. >> let me ask you this: what is wrong with having, playing devil's advocate, i beat up on the president all the time, maybe he's guilty of sin of the mueller thing and we will have to wait another year. there is other business to attend to. what's wrong with russia normalizing things, bringing them into the framework? by the way, richard nixon did just the opposite, remember? he engaged china as a bulwark against russia. what's so stupid as engaging russia as a counter to china? neil: we're getting a tweet from donald trump now, it's about time. [laughter] >> here's where i want to give him the benefit of the doubt,

markets are imperfect short term. we may be heading for the mother of all trade wars. which will be bad for the economy, i think it will slow the economy. but giving him the benefit of the doubt now as a negotiator. neil: want to thank you very, very much. this is not the first time we had tangles with canada over trade. the last administration did as well. the former u.s. ambassador to canada under president barack obama. ambassador, very good to have you. >> good to be here. neil: you know, i wasn't aware, there are quite a few dustups, handled very, very differently, obviously. but lumber to a lot of u.s. winemakers, even the family wineries were upset they couldn't sell their wares in canada during the obama years. i don't know specifically how they all ended but it was acrimonious, but how was that handle, versus how you think things are handled now? >> so i think you have to take a step back, though, and say how is the trading relationship overall, and we do $680 billion

worth of trade with canada and the u.s. has a surplus in goods and services of 2.8 billion. in a $680 billion relationship, you're going to have some things that you can actually do better, and some irritants. i was a participant in sending letters to the canadians on several of the items. i will tell you the steel and aluminum tariffs have rocked them. it came out of left field. and i will tell you, i think it's misapplied and inappropriate and i think there are going to be consequences here. neil: you do acknowledge that the trump administration might have a point when it comes to the canadians playing fast and loose in other areas. lumber, i think that goes back to differences with the kennedy administration. >> yeah, decades. neil: having said, that i'm wondering how you handle there because it seems to be a broad stroke approach on the part of this administration. what do you think of going that route? >> yeah, i think, you know, what we're doing is going into

surgery with a sledgehammer instead of a scalpel. i think the reality is that the relationship with canada goes beyond just trade, though we have a great trading relationship and partnership, it's a relationship where the country has been with us in our time of need throughout history. and so -- neil: what does that mean, ambassador? i'm sorry, but diplomats speak of the fine language, and i do know that the obama administration went to the wto 26 times, i think 22 of those times regarding canadian infringements, deemed on everything, as i said, from lumber to wine, i think there were soybean-related products as well, and they won every single time. >> that's why you need to dispute resolutions. neil: how did that work? many have problems answering to an international agency like the world trade organization when you can play your cards

right. i was surprised by other administrations going to the wto to get similar results, but most of the time we win with the wto. i didn't realize that. >> we do, we do. neil: what do you do? we have impatience with that. some of the decisions took upwards of four years, what do you do? >> trade around canada and the world. you want a basic structure of rules and the rules which we operate on. when you feel the rules are violated, you need a place to go to appeal and to have that conversation. so there's a dispute resolution in nafta. it needs to be continue to be applied and then you have the wto and other means. but you need to have the third party bodies that come together to say hey, we're not fulfilling the promises we talked about. in the context of the overall trade relationship, i want to make sure everybody understands that while these were going on and this were part of the course of doing business with canada. these were small relative to the overall larger

relationship, and so it doesn't mean you sit down and you clock them one out of the blue and sit down and penalize their whole he and based on the small irritants. neil: didn't you benefit from the wto and other officials like barack obama, for whatever reason, i'm not interested in the politics, and they do not like donald trump. i'm not going to get into the reasons, they just don't. and wonder if they would be as friendly and amenable to his trade beef concerns than they were during president obama's time? >> i can't answer to that question, but i can tell you we have no better trading partnership in the world in terms of total dollar, in terms of interactions and the broad-based scope of our economy than we do with canada. even in the context of having some of these things that we disagree on, and they have stuff with us as well, and buy

american provisions and procurement and other things. they're our largest energy supplier outside of what we supply in the world. fossil based and non-fossil based. these guys share water resources with us. 84% of the fresh water in america, the great lakes, we share with. this is our best friend, our next-door neighbor and need to find paths to continue to work together as opposed to beating them over the head. neil: did you ever cut one off to get to the other to get the message to the other country. there is a prevailing cynical thought that the president is using his g7 partners to send a message to china. look what i can do to my friends. can you imagine what it will do to you? >> we had significant conversations with regard to chinese steel dumping. that was going on. neil: i remember. >> conversations. we had conversations with regard to wine and wheat and

lumber. make no mistake about it, we weren't shy on having conversations with the canadians on some of the things we disagreed with. but in the concept of the overall relationship, there was no sense we would come after them. the language used more recently is misplaced and i think we're hearing from republicans. the u.s. chamber is in support of the canadian relationship. agriculture, u.s. runs a huge surplus with canada and agriculture, ask farmers. and 35 states, number one export market is canada. you have to keep all of this in context, in good business relationships you may have disagreements but a very strong business partnership. this is our best, our very, very best, and we have to protect and preserve this relationship as best we can. neil: ambassador, thank you very much for taking the time. appreciate it. >> pleasure. neil: we'll have more after this, including a look why the markets echo a point with john and charlie, not really focused

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. >> this isn't just about the unemployment rate. it's with wages rising in our

country. so that consumer confidence is restored. the economy won't ever fully reach its possibilities unless we increase the consumer confidence. neil: you know, this is where playing the left and right thing when it comes to the economy is so dangerous. you can't make the argument consumer confidence is hurting when it's now just at an 18-year high or talk about the gains in jobs, if you want to give credit to this president or the president prior, you liked them when they were happening on the president prior. you don't like when it's accelerating on a fast pace with this president. this is not the place or the show to play favorites with economic numbers. it is what it is. the trend is continuing, 3.8% unemployment level which harkens back to when neil armstrong walked the surface of the moon.

macrodevelopments right and left can solely say it's within their making. should be accepted as good. but we play politics with this stuff. but it's dangerous politics at that because it loses sight of progress we've been making as a country and why we are the envy of the world for the time being. again, whether you're a conservative or liberal, you guy the to like the green coming our way. to "national review" columnist john fund. i know how parties play it, but in the case of nancy pelosi bemoaning the crumbs from tax cuts as she called them or the latest jobs report is disappointing in the wage gains around 2.7% are also presumably cruming when they ran the pace they were running a few years ago. >> i think two figures dominate the election this november, neil. one is donald trump, a lot of people don't like him because he's crude and rude but there is nancy pelosi who is elderly

and completely out of touch, when she makes statements like that, makes you wonder if she's working and living with us on the same planet. and the air of unreality, unable to accept the fact that the trump economic policy, especially deregulation have boosted the decision of businesses to raise capital investment. you know the obama years over time created a lot of jobs but capital investment was way down, businesses were afraid of what the next regulatory boot was going to be. that ended. people are investing like crazy and leads to more jobs and better paying jobs. >> i am wondering about the back and forth of the soundness of the recovery, more evidence every day of employers who can't find workers so bidding up the price of the ones they have or seeking to buy the new once by paying more than they normally would. i know people worry about inflation, worry about that. what do you make of that trend? it's picking up considerable steam? >> i was talking to someone in

the midwest who opening up a factory. 800 jobs. they had 4,000 applicants. basic three standards that they needed to accept an application was had you finished high school or the equivalent? did you pass a drug test? and did you have a criminal record? only 1,000 of those 4,000 applicants, neil, could pass the three standards. we have a shortage of qualified skilled workers in the country and not going away because the educational system frankly isn't producing them. neil: i'm curious and you are getting the pulse of the people as well. how much of this is resonating at home. talked about a blue wave. blue waves or waves that reduce a change in leadership in congress are usually born of frustration or recession or spiraling out of control. rarely do we see it in this type of environment unless the angst and hate towards the president is such that this

would be different. what do you think of that? >> two numbers in one of the recent polls. 54% of college educated voters disapprove of donald trump. but only 44% of college educated voters plan to vote democrat for congress, and the explanation is obvious. lots of reasons to be weary and leery of donald trump, fine. why vote for nancy pelosi's candidate in the response to what you don't like about trump, that's cutting off your nose to spite your face. trump's not on the ballot, republican candidates are on the ballot and democratic candidatesort ballot. democratic candidates are going to reverse the tax cuts, reverse the progress we've made on economic policy. that's the problem the democrats have. lots of people against trump, are they willing to vote democratic to express that? i don't think as many as you thing. >> that's well said. i think it is foolish to deny good numbers. you know, it only comes back to bite you. and fight on another level and

another angle but that's a zero-sum game. john fund, always good seeing you, thank you very much. >> pleasure, thank you. neil: speaking of the president, maybe this ticked people off when he gets into this argument about people not wanting to come or teams not wanting to come to the white house. take a look. >> i didn't invite lebron james, and i didn't invite steph curry, we're not going to invite other team. i think we'll have the cavs. we'll see. my attitude, if they want to be here, the greatest place on earth, i'm here. if they don't want to be here, i don't want them. >> the president of the united states, many of those watching the capitals winning the stanley cup, they may not come. the door is own, but if you're going to be nasty about it, forget it. that's his call. a lot of people say he's the people's house but he's the guy living in it. let's go to gianno caldwell, what do you think, gianno? >> it's the greatest place in

the world, i'm here. [laughter] >> that was a good line. but as we know president trump likes to be celebrated. he's a guy who grew up in the industry or rather -- i grew up with him as donald trump "celebrity apprentice," celebrities, rappers and everyone else celebrated and adored donald trump at time. have you sports teams refusing to go and, of course we can put him in this a bit because when the kaepernick thing began, it got press attention, it wasn't a lot until he got into the fight. then it became much more divisive than what it was. if you recall last year talking about teams in a similar situation last year, trump uninvited the warriors after curry and other prominent members of the team said they weren't interested in attending a ceremony. this move prompted a tweet from lebron james who wrote "you

bomb, steph curry said he ain't going, ain't no invite. going to the white house was a great honor until you showed up." this has become something that has continued, isn't new especially with steph curry and lebron james, and something we're going to see widespread throughout the nfl and the nba. neil: i don't want to bring this down to a level of race. you can help me with this, gianno. which resonates, lebron james saying something like that, or the president of the united states reminding african-americans, the unemployment level, the lowest it's ever been. the job gains, the most aggressive they have ever been. which is resonating with the african-american community? >> there's a couple different levels to this. one, when you disseminate a message about the unemployment rate which is clearly very important, in terms of the

difference between what the unemployment rate is between african-americans and caucasian americans and we see it's coming down where there is somewhat of an equality that may be taking place and we can appreciate that. the message has to be disseminated in the right way, and i think that's what president trump loses at oftentimes. he is doing some great things, we can be honest about it. i may not agree with the way he communicates on twitter and other places. i know you feel the same way, but there are great things happening in this country, and we can be honest and say it's due to president trump's leadership however unorthodox it may be. when we talk about race in america, talk about police brutality in america, police misconduct. these are legitimate issues and law enforcement groups that have spoken up about these things that have consideration, and i think it's something that he may do well and say listen, there's a lot of great cops

out, there obviously there is. i think the overwhelming majority are, there are some that aren't doing their job and we need a conversation about that. people want dialogue on issues important to the community. this is the new civil rights era for a lot of people. neil: and maybe a different way to handle it. gianno, very good seeing you my friend. have a good weekend. >> thank you for having me. neil: gianno caldwell. something big happened to obamacare. the justice department is now out of the fight arguing on behalf of it. now what? after this.

neil: all right, you know, it's a big item here, but digest the significance of it. the justice department saying, you know, we're out of debating the obamacare business. we're not going to be arguing on its behalf anymore. to former new york lieutenant governor betsy mccaughey who's on this.

i advised her the notebook, she could afford to get a new one. [laughter] you were telling me, this is a significant development. why? >> well, this is a very significant development because the affordable care act is really two laws glued together, an expansion of medicaid which will be unaffected by this court case, but also a massive federal takeover of the individual insurance market. and when it was challenged before the supreme court, the argument was, well, where in the constitution does the federal government have the right to take over the health insurance market? it's always been regulated by the states. and where does it give the federal government the power to order every individual to buy health insurance and dictate what kind? well, john roberts, chief justice, surprised all of us by saying, well, i see it in this taxing power because there's a penalty if you don't do it, and we're going to call that a tax. but then the new tax reform law zeroed out that tax. and without the tax, there is no longer a constitutional

justification for this massive talkover of health insurance. neil: so if that were to go back to the supreme court -- not that it would -- >> it could. neil: okay. it would be shot down. >> that's right. because the justices said that was the only justification. after all, they made it very clear in that 2012 landmark decision that under the commerce clause, which is how the obama administration initially defended this law, there was no justification for giving the federal government that kind of power over individuals and what they buy. neil: so where does the law stand now, betsy? with the justice department out of the we're going to be defending this business, where -- >> well, there will still be litigation because many other states are weighing in on the other side of this argument. you've got 20 states saying that this part of obamacare that tells people what kind of insurance they have to buy and tells insurance companies what kind they have to sell, it's unconstitutional. but you've got other states like california and new york that are weighing in on the other side of

this. so there will be litigation, and it'll take several months to decide. but i predict that this part of obamacare will be struck down. of course, another part -- the massive expansion of medicaid, which is where most people newly covered got their coverage -- that will stay. neil: now, i'm from new jersey, governor murphy is saying he wants to reinstate that. >> he already did it. he already did it. it was passed and signed into law in new jersey. neil: what does that mean? that's a separate life support, right? >> well, that's true. two things. first, it tells the residents of his state what donald trump and the republicans gave you, the freedom to choose whether you want obamacare or not, the democrats are taking away. it's bad politics, right? but secondly, there's a much better way to make health insurance available for people with pre-existing conditions and still affordable for everybody else in the individual market. and that is what several states

are already doing, pay the insurance companies back for the cost of the very high-cost sick patient. that will keep the premiums down and affordable for everyone else in the individual market. neil: they should be in a separate pool, those -- >> a separate pool or just subsidized at the end of the year. neil: all right. very good seeing you, former new york lieutenant governor, expert on all things related to that health care law that's sort of unraveling as we speak. we'll have more right after this. until... we lost it. today, we're renewing our commitment to you. fixing what went wrong. and ending product sales goals for branch bankers. so we can focus on your satisfaction. it's a new day at wells fargo. but it's a lot like our first day. wells fargo. established 1852. re-established 2018.

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♪ ♪ >> i would recommend, and it's up to them, but russia should be in the meeting. it should be a part of it. you know, whether you like it or not -- and it may not be politically correct -- but we have a world to run. and in the g7, which used to be the g8, they threw russia out. they should let russia come back in, because we should have russia at the negotiating table.

neil: of course, russia was thrown out of the g8 at the time because of that invasion of crimea and, of course, ukraine. that was then. the president wants them back now. a former undersecretary of defense, jed babbin. what do you think of that? >> beats the heck out of me. it seems like the president's almost intimidated by putin. he wants him there despite the fact that russians have conquered crimea, they're still trying to conquer ukraine, they're trying to help the iranians deal with their problems and building them nuclear power plants. i mean, this has been a bad thing for the president to do from the very outset. and i just do not understand why he's so palsy with putin. he now wants to meet with putin. that's probably a good idea. but including putin in the g8, or the g7, is not going to solve any problems and is simply going to weaken his hand. neil: well, unless you pegged it to concessions maybe beyond

ukraine and getting out of the whole region, what do you think? >> well, yeah, but, i mean, before you do that you have to get them to give the concessions. neil: true enough. >> so the president's not going to do that. he's simply saying, well, we need to get them back in here. that's not the way to do it. we need to get them to give concessions, the russians, that is, and to take action out of ukraine and get out of crimea, and then maybe they can get back into the g7, not before. neil: what do you make of the fact that we have a tense relationship right now with our economic partners in the g7, and he's leaving that summit early? he has good things to say about the north korean leader. now, i know this is all -- we can't pick and choose our leaders of countries, i understand. you have to meet with this guy, he's the guy in north korea, he's not a nice guy. stalin wasn't a nice guy when fdr met with him. having said that, he seems to have much better sentiments about people who have clearly wished us ill in the past than those who are on our side. >> yeah. again, i don't understand it, although you can understand that

he wants to kind of make up a little bit with kim before the summit meeting and try to have a smile on their faces before the two of them get together. there's not going to be much of anything come out of that summit, i hope, because to do that, again, would be to give concessions without getting anything in return. as to the g7 and is rest of these -- and the rest of these guys, these guys, and you've heard me say this many times before, these are the deadbeats of nato. [laughter] these are the people who do not pay their own way in defense. for example, if germany, i don't know, maybe we ought to put a big tariff on their cars until they contribute to their own defense. and in that point, i'd lift the tariffs. but until then these are nations of shopkeepers. i have no sympathy for them. neil: so actually whatever the approach the president's taking is deserved. >> well, at this point, yeah. look, if he walks out of their climate meeting tomorrow, big deal. i mean, what are they going to say? is nothing's going to change anyway, and they're just going to go with their political

correct nonsense. so i just don't think he's doing wrong with that. it's kind of a tough thing for him to do, and they're going to be very hostile, but so what? neil: yeah. you know, it's interesting, i like to go back in time and read some of the press accounts even going into the reykjavik meeting that ronald reagan had with mikhail gorbachev. he was widely criticized, as you know, when he walk away from those talks, and they had been going on a few days, and then was able to parlay to agreement a few months later. very similar to the kind of disparagement this president is getting and will get. i know very different guys, i don't understate that. but what what do you make of that, the fact that history can get it wrong, that we got it wrong about reagan then, that maybe, i don't know, i'm not smart enough to know, many are getting it wrong about donald trump now? >> well, you're plenty smart enough, but the basic point is there is a direct comparison between reykjavik in 1986 and, you know, singapore in 2018. the fact is that mr. gorbachev

tried to pull a fast one. neil: right. >> they had gig -- big agreements, and then gorbachev suddenly pops this idea, well, we're going to include your ballistic missile defense system, we're going to limit that, and reagan said, no, we're not doing this. and he walked away. neil: and he walked away. >> and the same sort of thing is likely to happen here. kim's going to come in all smiles, try to pull a fast one. we'll see if trump falls for it or if he'll pull a reagan. i think that would be the best thing to do at that point, just walk the heck out. neil: who needs this more? >> i think kim needs it a lot more. they're suffering, they're really fearing what we're going to do. they've been threatening us for so long with nuclear war, and mr. trump has answered threats with threats, you know, basically creating, as he said, threatening to create fire and fury like the world has never seen. they're not used to that. they need to figure out where this guy's coming from, and i'm hoping he's not going to help

them do that. right now kim needs an agreement a whole lot more than we do. neil: you know, i'm thinking what would be more unpredictable donald trump going into this or you, jed, as president going into this. [laughter] i don't know, it's a crap shoot. thank you very much. >> thank you, neil. neil: always good seeing you, my friend. just calls 'em as he sees 'em. by the way, when all of this starts to unfold, as it does unfold, fox business is on 24 hours. we're going to be live all night. we'll be there, i'll be there, the whole team will be there. also monitoring market reaction to this, so you sometimes will get one or the other. on some channels. you're going to get it all here. so peace and process -- prosperity. i think that's what fbn's all about. more after this. ♪

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♪ ♪ neil: all right, there are two photos at any sum, the one if the beginning and the one in the end. the one at the beginning is the least embarrassing, and, of course, the president will be saved that because he'll be leaving early. but a lot of people are just as well to say good-bye to him because of this dust-up over

trade. but the fact of the matter is the president has long argued they need him a lot more than we need them. whether you agree or disagree, there's no arguing about the state of the u.s. economy which he heads which is right now the envy of the world and will remain so if my next guest is right, scott shellady. this is causing a lot of friction and anger but so far not a lot of tension in the global markets. why is that? >> it's going to be the lecture of the three, number one, the markets really don't think that he's acting crazy, right? they've been stable, they've been solidified, and things have been okay. number two is that he has to act in an unorthodox way to get something that's orthodox, right? he's got to throw his toys out of the program to get something that's -- out of the pram. and number three, he can say look how crazy i had to act, and i still couldn't get it done. no other president's done it for you. so that's his mentality. and you take those three things that go against the ten-year

going to 3 president -- 3% and $3 a gallon gas, and you've got all these things happening at the same time. if you notice, as we get close to 3%, everything kind of settles down as does trump. so it's all about the 3s right now. neil: you know, it wouldn't take much for this to get out of control and maybe to your point the markets don't think it will get out of control, but they've been surprised in the past. consensus has been surprised in the past. so what's the first thing you look for that would worry you that this is escalating beyond what we first thought? >> something that happens that doesn't have anything to do with donald trump. that's what would worry me. neil: that's interesting. >> right now everything has got to do with the headlines, and i'm in london right now as you well know. and even the bbc, their local news channels always lead with trump. it's trump this, trump that. the guy's in the news every day. but when you have an issue happen with, say, italy and maybe they fall out of the european union and what happens

to those bond spreads against, say, germany and the u.s. and that's not trump-initiated, that's the thing we have to worry about. things that aren't initiated by donald trump and/or his tweets. neil: so the economy here that's very strong, democrats have been dismissing that and all of that, the markets obviously like it, that's really dictating whatever's going on in the markets, right? the underlying fundamentals here, suddenly the cut in regulations and taxes that's been the wind at a lot of these guys' backs, that will continue and be the theme, right? >> well, we've moved higher in the markets, and the asset prices have shown what folks think donald trump's going to do, and that's really a representation of the sentiment of the ceo and actually the man on the street. but, neil, we've got a problem in the u.s. economy, right? 3.8% unemployment is not really flowing through to wage increases and gdp. we've got a leak in our economic system still, the u.s. yes, are we doing much better than the rest of the world, especially europe? as i sit here and talk, 100%.

however, even the still has something wrong, and it's powell's job to find it. we have a problem when we can't find this leak in the system that the up employment rate is not flowing through to good growth, our gdp is not showing what we've got going on behind the scenes. neil: that could change in the quarter we're in, right? >> i hope it does. neil: when are you coming back home? are you just now all of a sudden loving britain? [laughter] >> i'm here for the short term, and i'll be back in august sometime. we'll make sure we hook up then. neil: all right. scott shellady, in her majesty's kingdom. [laughter] melania trump's spokesperson apparently firing back on the whole stormy daniels' allegations against the president. to former, but 43 -- former bush 43 speech writer, annika green. to say something to the effect we don't really pay attention to rudy giuliani, don't talk to him and all, i can remember another

first lady -- nancy reagan -- who was saying the same about the then-president's chief of staff, don regan, his former treasury secretary. and he was soon history. >> he was. neil: what do you think? >> yes. he had to resign after their relationship became very contentious. they had many fights over -- one of them was president reagan's health. she wanted him to follow the doctor's orders and recuperate after surgery, and he wanted him out there in front of the american people more. at one point he hung up on her. probably not a good idea. [laughter] and he ultimately had to hand in his resignation. neil: yeah. and then there was the astrology thing, if my memory serves me right. you don't want to mess with either the boss' spouse or certainly the president's. it's just, it's going to come back. >> it really will. i mean, lincoln had the same issue. mary todd lincoln hated both his chiefs staff and had fights with them, and it didn't end up well for them. neil: no, i remember.

i'm old enough to have covered that. [laughter] it was very embarrassing. let me get your take on the first lady. today was the first day we found out there was a little more to that surgery. it lasted, according to the president, four hours. she can't fly for another month, won't be with him in singapore. they haven't detailed exactly what kind of surgery they did. four hours, i mean, you know, that's about the length of my heart surgery when i had it a while back. that's a big deal. what the heck is going on? >> it is a big deal, and i think what we're seeing like many administrations previously, there's a desire to maintain the privacy of the first lady as much as possible. which is why it's distressing to see things like rudy giuliani commenting on the status of their personal relationship or what she believes about something that is none of anybody's business, honestly. he should keep his mouth shut. neil: you know, i can see that and i understand that, and i know, you know, she didn't sign up for this job, you know? she married into it. and it is what it is. but you are a public figure. you are the spouse of the

president of the united states, and i think a lot of that privacy and your interest in maintaining it goes. it shouldn't to the degree of your husband's, but it does go. >> right. neil: and i think a lot of people who were concerned about her are worried about it. >> right, and that's understandable. it comes from a place of well wishes, i think at that point the first lady's staff have to discuss whether to release more details. but it is, like you're saying, it is a line that first ladies have to walk between their desire for privacy, the fact that they didn't run to be first lady, they kind of inherit the job as the role of the spouse. and so where does that leave them. and they have to figure out what are their policy priorities going to be but, as well, how much can they live in that spotlight, particularly when they have young children that they're still trying to raise in a normal way. neil: i know she reappeared this week, i'm not trying to overstate that. but she was out of the public spotlight, in fact, not seen by anyone for a few weeks. that's a long time, right? >> right, right. and so, like you said, trump

admitted that her surgery took a long time, took a little longer. maybe they should have prepared the public for her not to be out as much. the image she's been cultivating is that she's not real showy. she tends to be -- i don't want to say reclusive, but she wants to be committed to the priorities she has, one of which is combating cyberbullying for which she has come under fire and has not stepped back despite that. neil: yeah. i think there's a lot to what you say. thank you. very good seeing you again. >> likewise. neil: we've got the dow up about 29 points right now. really everything is going to trade basically next year on what happens -- next week on what happens in singapore. although now the expectation is that nothing will happen in canada, and that's sort of making that a wash. after this. and that's how he intended to keep it. then he met the love of his life. who came with a three foot, two inch bonus. for this new stepdad,

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everything. and that 2% cash back adds up to thousands of dollars each year... so i can keep growing my business in big leaps! what's in your wallet? neil: taking you back to key beak right now -- quebec, for the first class photo. the one at very end the president will miss on his way to singapore for the north korean summit. the president was going to have a meeting with emannuel macron of france. that meeting was delayed but they still did have it. they discussed north korea in brief. it was a very cordial discussion we're told, by a french official. they're not exactly letting by against bygones.

they are angry at president targeting them on trade, when he should be targeting enemies. they put china that camp. they put russia in that camp. they don't put themselves in that camp. they're not all happy campers. but that is so far. to trish regan now. trish: i want to camping. neil: exactly. trish: president trump getting unusually cold, chilly reception at the annual g7 summit where meets with leaders from canada, japan, european union amid tension over trade. the president will meet with the traditional class photo happening from now. we'll look at that. it will be interesting to read the body language there between the likes of macron and merkel and president trump. i'm trish regan. welcome, everyone, to "the intelligence report." ♪