The Factor Rundown
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Donald Trump on America's Economic Woes
On a day when the Dow Jones Industrial Average plunged by nearly 600 points, The Factor began by speaking with business maven and Republican frontrunner Donald Trump. "Look at what's going on with China and Asia," Trump began. "We are tying ourselves so closely to China - not only have they taken our jobs and our manufacturing, but now they're pulling us down with them. They devalue their currency constantly in order to make goods far cheaper than we can, they take our jobs, and I have said this is the biggest theft in the history of America. We have nobody who knows how to handle China!" Trump also opined on the upcoming visit to the USA by Chinese President Xi Jinping. "I would not be throwing him a dinner, I'd get him a McDonald's hamburger and get down to work. We'll be giving him a state dinner even though he has sucked out all our jobs, our government has allowed China to do this to us." The Factor placed some of the blame on American multi-nationals: "U.S. companies go to China and Mexico because they want as much money as possible. You can punish them, but you can't stop them."
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Illegal immigration solutions
Returning for a second segment, Donald Trump focused on his signature issue of illegal immigration. The Factor specifically asked Trump whether he would deport a family consisting of two illegal immigrant parents and two children who were born in the USA. "We have no choice," Trump replied. "We have to send them out, and if they are wonderful people we will bring them back in an expedited fashion. We are a land of laws, we have borders, and these are illegal immigrants who are not supposed to be here. I have a bigger heart than anybody running, but our country is out of control and we have to get a process started. If I am elected, illegal immigrant gang members will be out on day one!" The Factor warned Trump that he would face insurmountable legal problems: "I think you're right about a wall, but you're wrong about mass deportations. They have to be held accountable and registered, but I can't see how the federal courts will allow agents to drag people out."
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Hillary's Economic Solution
The Factor asked Juan Williams and Mary Katharine Ham to opine on Hillary Clinton's plan to raise taxes on short-term investment income earned by wealthy Americans. "Hillary's argument is that she doesn't want people making short-term investments," Ham said, "but people respond to incentives and you need people investing in the stock market. She would also be adding a lot of complexity to the tax code, which is already too complex." But Williams argued that the economy can comfortably withstand a hike in short-term capital gains taxes. "The economy is pretty good, even though there has been a correction in the market. Unemployment is down and the stock market is way up over where it was in 2008. Hillary Clinton's plan encourages long-term investment." The Factor pithily concluded, "If Hillary Clinton is elected and the capital gains tax goes up to 40%, I'm out of the stock market."
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Thwarting a Terror Attack
Three American men, two of them off-duty military, probably prevented mass murder when they subdued a jihadist on board a train in France. Fox News strategic analyst Lt. Col. Ralph Peters elaborated on the act of heroism. "Thank God those Americans were there," he said, "and what's striking about the jihadist is what a doofus he was. He didn't even know how to clear a jammed weapon. But the French police must be thinking that he did not act alone. Where did he get the guns? How was he flying all over Europe and have a first class train ticket? There is more to this than one terrorist!" The Factor lauded the heroes and suggested that they may have saved hundreds of civilian lives: "There are reports that the Europeans working on the train ran away, so if the Americans had not been there this guy certainly would have killed a lot of people."
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Republican Frontrunner
The Factor asked Charles Krauthammer to evaluate the recent stock market chaos and its possible impact on presidential politics. "If the stock market continues into a crash like it did in 2008," Dr. K said, "of course it will have an effect. The crash in 2008 happened six weeks before the election and the Republicans had no chance of winning, but the next election is still more than a year-and-a-half away. The economy is already weak, it's the slowest recovery since the Second World War, so a stock market slide would be devastating to the Democrats." Krauthammer added a not-so-veiled jab at Donald Trump. "If the argument is that China is so smart and they're stealing everything out of our pockets, how come their economy is collapsing?"
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The Bernie Sanders' Edition
Jesse Watters headed up to New Hampshire, where socialist Bernie Sanders is in a virtual tie with Hillary Clinton. Some local residents attempted to explain their affection for Sanders: "I believe he represents me" ... "I think socialism very well could work for us" ... "I lean more towards socialism than democracy" ... "I don't really know what Bernie Sanders' tax plan is." Back in the friendly confines of the New York studio, Watters summed up his excellent adventure. "They like Bernie because he wants to soak the rich," he said, "and they don't want money in politics. So I said, 'You must really love Trump because he's self financing.' But they said that's not good."
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Viewers Sound Off
Sylvia Simpson, Trophy Club, TX: "Bill, you cite the New York Times ridiculing the 'anchor baby' situation. Outside of New York City and D.C., few of us care what the Times thinks."
Mickey Glantz, Danville, CA: "Bill, on your report about the 14th Amendment, you have two guests who supported your position. There are numerous legal scholars who do not."
Carlos Rodriguez, San Antonio, TX: "Bill, great debate with Dr. Cornel West! You are correct: we black Americans need better job and educational opportunities - not handouts."
Jim Ricketts, Sacramento, CA: "When Dr. West can show me where Jesus commanded his followers to seize the belongings of others, then maybe I'll buy into his 'Revolutionary Christian' foolishness."
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Don't Just Do Something ... Stand There!
As market guru John Bogle famously said, at times the best response to market chaos is to do absolutely nothing. Consider waiting it out and hoping that our next president will reverse some of the policies that have contributed to the financial bloodshed.
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