Trump: We just don't have leadership

This is a rush transcript from "Your World," March 1, 2013. This copy may not be in its final form and may be updated.

NEIL CAVUTO, HOST: Well, to the Donald on how not to do a deal. Don't hold a meeting unless you're close to a deal, but Donald Trump says that this brief meeting at the White House wasn't about covering real issues, more about politicians covering something else.

Well, Donald, I guess not so heart of the deal going on today. How are you?


And it's very sad what is happening, because there's no leadership in Washington. And we're just adrift as a country.

CAVUTO: Would you hold a meeting without a clear conclusion, Donald?

TRUMP: Well, I think you can. I mean, you have to start somewhere, and they have no conclusion. They have no answers. They have nothing going on right now.

At some point, you're going to have to talk. They don't talk. They have meetings really because they want to look better in the press, but they know nothing's going to come from them. And it's a pretty sad situation.

CAVUTO: You know what happens? When both sides agree to a meeting, that is, the president to invite them over to the White House, those who go to the White House, there is that sort of PR cover to say, well, at least we met and we tried to do something, when, in fact, given the relative brevity of the meeting, it would be impossible to get much further than, did you have fries with that?

So, I guess the obvious question now is, why hold a meeting at all if you know you weren't going to do anything more than appear to be getting something done?

TRUMP: Well, it's because the public relations. They want to look good. They want to look like they're trying. They don't want to be blamed for the disaster that is taking place in Washington.

We have $17 trillion in debt. We are going to lose a trillion dollars this year as a country. Other countries are doing unbelievably well. You look at Brazil. And I'm just looking at numbers coming out of South America. It's incredible. I bought Doral Country Club and it's doing fantastically well because the South Americans are coming over there.

And it's amazing what's going on in Miami because of what's happening in South America. So, you look at China. I mean, that's the number one culprit. You look at India. You look at what's going on in other parts of the world. It's amazing, absolutely amazing, and we are just moribund. We're just not moving and we're probably not going to move for a long time. We just don't have leadership.

CAVUTO: Well, say what you will. The administration would counter that argument, Donald, say maybe Trump should look at what's been going on, on the stock market. Maybe he should see this market getting close to an all-time high. Maybe he should see the Dow doubling over the period of when he came into office, that we are these business guys' friend, and Donald just doesn't get it.

What do you say?

TRUMP: Well, if you look, many of these companies they are doing well because they're doing well in other countries. They're outside of the United States.

A lot of the folks that I watch your show and other shows are saying their real strength is what they're doing outside of the United States, not what they're doing in the United States.


CAVUTO: What do you make of what they're doing with that cash, though?


TRUMP: Our growth, Neil, is less than 2 percent.


TRUMP: Other countries are at 9, and 10, and 12. And they're trying to hold it back because it's too much.

CAVUTO: All right.

TRUMP: So, those numbers are pretty obvious.

CAVUTO: All right, now, some countries have growth like that, I think precious few.

But do you get a sense, Donald, that some money is coming off the sidelines, though, and that whether it is because a lot of big companies have a lot more promising business abroad or whatever you want to say, something's going on that's propelling these companies to, you know, in the case of Hewlett-Packard, to buy billions of dollars worth of its stock, Home Depot to buy $17 billion back of its stock, Dell to spent upwards of $28 billion to take itself private, Comcast to spend billions to buy the rest of NBC that it doesn't own?

Someone must see something. What is it?

TRUMP: Well, number one, you have low interest rates.

But I'm doing it myself. I have never been a big stock market person, but a couple of years ago I went into the stock market, and you know, I all of a sudden think, gee whiz, I must be smart. Well, I don't know if it's smart or lucky. But I have invested in stocks. I bought Bank of America and other stocks. They just seemed so low. And now they're doing fine.

So people are looking to bet. Interest rates are very low. Banks are not loaning money to start businesses, I can say. Banks are not loaning money to a lot of people wanting to buy houses, but slowly but surely it's going to come around. I really believe it's going to come around, but as a country, we are not doing well. We're being taken to lunch by other countries. There's no question about that, Neil.

CAVUTO: Real quickly, the shortest meeting you have ever held, how long?

TRUMP: Seconds, seconds.

CAVUTO: Really?

TRUMP: I can tell at the beginning of a meeting how it's going to work out usually, unfortunately.

CAVUTO: So, when you fire someone like on "The Apprentice," when you just do that "You're fired" deal, how long is that meeting?

TRUMP: Well, generally speaking, it doesn't have to take too long. You don't want to waste a lot of time.

CAVUTO: Yeah. I would just be -- I would be sweating. I would just be sweating.

Donald Trump, it's always a pleasure, sir. Thank you.

TRUMP: Thank you very much, Neil.

CAVUTO: All right.

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