China targets GOP lawmaker with sanctions over Taiwan as tensions soar
Rep. Michael McCaul, R-Texas, joined 'Sunday Morning Futures' to discuss rising bilateral tension between the U.S. and China, and the Biden administration's handling of the growing aggression.
CHAIRMAN MICHAEL MCCAUL WARNS OF CHINESE INFLUENCE IN THE NEXT TAIWANESE ELECTION
MARIA BARTIROMO: Michael Gallagher told me that he thinks that they're going to invade or do something in 2024. Is that where you are?
MICHAEL MCCAUL: Yeah. You know, the intelligence community says 2027. I personally think they're going to try to influence the next election in January. Presidential. You already had the former president of Taiwan in China meeting with the PRC about their preferred candidate going into that presidential election in January. If they prevail and influence the election, they win just like Hong Kong without a shot fired. If they don't prevail, then they go to plan B, and I think that would be likely a blockade type scenario where they cut the C cable. A massive cyber event on the island and they shut it down and they cut off all food and water for a matter of a month and then they take it over.
DR BEN CARSON SLAMS ALVIN BRAGG FOR POLITICAL PERSECUTION OF DONALD TRUMP WHILE MANHATTAN IS OVERRUN WITH CRIME
MARIA BARTIROMO: So we're talking about what's obvious in plain sight, the surge in crime in New York. But the priority of the Manhattan D.A. is getting Donald Trump and interfering in the election, according to many in the Republican Party. What are your thoughts on the Trump indictment as well as on the other side of the coin, the, you know, bank records of the Biden family indicating influence peddling?
BEN CARSON: Well, this is such an important issue, may maybe more important than almost anything that's going on, because, you know, communist countries and third world dictators go after their political opponents. Here we have a situation where the frontrunner on the Republican side is obviously being persecuted and prosecuted for political reasons. And, you know, Ben Franklin, after the 1787 congressional session, which asks, what do we have here? Do we have a monarchy or do we have a republic? He said. A republic, if you can keep it. Well, these are the kinds of things that he's talking about. When we have a day who's concentrating on political things and crime and meantime is running rampant, I read a story in the New York Post today about an assailant and a hate crime against a Jewish man who's being offered six months in jail. I mean, this is absolutely absurd.
TRUMP INDICTMENT FUELS THE FORMER PRESIDENT’S 2024 CAMPAIGN FUNDRAISING
GOVERNOR SARAH HUCKABEE SANDERS ON HOW SHE IS KEEPING ARKANSAS SAFE FROM THE FENTANYL CRISIS
MARIA BARTIROMO: And you've got a lot to celebrate from education to this crime stance. Let's talk about these bills that you signed into law, Arkansas's Death by Delivery Act. I want to get your take on the significance of this event in all killing Americans right now.
ARKANSAS GOVERNOR SARAH HUCKABEE SANDERS: You know, if the Biden administration I'm glad to see that they're finally stepping up and doing something to crack down because the breakdown at the border has allowed fentanyl to pour into our country. And we are seeing the impact in communities across the country. And because they have allowed this to take place, states are having to step up and crack down on ourselves. And that's exactly what we did here in Arkansas. We passed legislation this first session of mine to crack down on drug dealers, specifically targeting those who are trafficking fentanyl. If you knowingly trafficked fentanyl, that causes an overdose, you will now be charged with murder. And if you traffic fentanyl to kids, you can also be charged with a life sentence. So we are cracking down where the Biden administration has failed to actually step up. And I think we're going to see a lot of states doing exactly this because it's become so necessary with the out of control drug problem that we're seeing everywhere in our country right now.
MIKE MILKEN DISCUSSES THE DWINDLING ACCESS TO CAPITAL FOLLOWING THE COLLAPSE OF SILICON VALLEY BANK
MARIA BARTIROMO: Talk to us about the scenario and the backdrop right now, because there is worry that the three rivers that you write about in this book, that is your study of science, your study of education and your study and work in access to capital, there is worry that that access to capital is now dwindling and it's impacting health care and biotech. What do you think as a result of that Silicon Valley bank collapse?
MICHAEL MILKEN: Well, I think we have to step back and realize again probably a dozen times in my lifetime that these losses and the challenges were related to a decision of borrowing short and lending long. And when interest rates went up, there were significant unrealized losses not from credit, but from the world's most quote, safe securities, governments, agencies, etc. And throughout the world today, you have unrealized losses of a few trillion dollars due to this decision of borrowing short and lending long. And that was what brought down Silicon Valley Bank. The issue you're raising is these challenges due to mismatching of maturities, of investing long and borrowing short when interest rates went up, have the potential here to reduce the flexibility of the Fed, but also to reduce access to capital for many businesses. And when you talk about an area that's centered also in Silicon Valley and the Bay Area of California of biotech, the high for biotech was around November 21. Today, hundreds and hundreds of small biotech companies with promising ideas. Their equity has dropped in the marketplace, their stocks 80, 90%. This is very reminiscent of the year in 2000, where just one pharmaceutical company was worth more than 180 biotech companies at that time, even though they were spending four times as much on research. And so we need to figure out how we're going to keep these trends and access to capital today for the bioscience industry.
CLICK HERE TO GET THE FOX NEWS APP
Get all the stories you need-to-know from the most powerful name in news delivered first thing every morning to your inbox