tv Your Money CNN September 7, 2013 6:30am-7:01am PDT
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they jam the jeep carrying the visitors on the safari. terrifying seconds. nobody was hurt. we will see you back here at the top of the hour, but first -- >> "your money" starts right now. a vote on military action in syria looms. the president reaching out to a congress that has blocked him at nearly every turn. i am john berman in for christine romans. this is "your money," and we will be joined by cnn's chief international correspondent, and will congressional pickering threaten america's standing in the world. a couple years ago, standard &
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poor's downgraded the rating, and at the time they set the political brinksmanship of recent months highlights what we see as america's governance and pauly making becoming less stable and less effective and less predictable. is president obama by seeking congressional approval putting u.s. political dysfunction on display and risking america's representation all around the world? our chief foreign correspondent, syria aside, what does the rest of the world know or think about the partisanship here in the u.s. over the last couple years and has it weakened america's image abroad? >> i do think that people around the world have been looking at the on going battle between the
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parties in congress, over every issue, remember the debt ceiling or issue or whatever it is, but when it's a serious contemplation, an act of war or a response to aggression by the assad regime. everybody is watching how it goes, because many people are reeling from the shock that britain delivered in its parliament when they voted down prime minister cameron in his authority to take action, and the question is who is maintaining the word order? america can play an intrusive role in some of the majorly important interventions and responses that have to be taken. >> one of the big problems facing president obama right now is that many americans are against the military action in syria, and many americans reeling from the wars in a iraq and afghanistan which cost more in blood and treasure than many
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first estimated and it makes it difficult for the president to rally for support here and abroad. what does this president risk if the united states fails to follow-through on holding the red line? >> you are right, it's unpopular in the united states and unpopular in britain where the prime minister was delivered a crushing and extraordinary blow when he tried to get a vote of confidence to go with the united states to respond to syrian use of chemical weapons. the risk of not taking action is what president obama himself is laying out right now, and has been doing so over the last several days. his last press conference as the g-20 summit in st. petersburg rapped up over the weekend, and it has been delivered in the message, and he said it's not my red it's the world's red line. 1,400 people, including 400 children were killed.
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if we do not respond what does it say to the world, what does it say about us, and what does it say about rule of law, and what a does it say about trying to prohibit the use of the weapons of mass destruction in the future? that's the case he is trying to take to the people and his fellow leaders around the dinner table at the g-20 summit in russia, and he said he will address the american people from the white house on tuesday and keep putting up his case. it's a very solid case in terms of international norms, and why action and punitive action needs to be taken. of course, as you say, we are talking about politics and people who are tired of war, and we are also talking about a president that has been really the reluctant warrior, and he says it over and over, he said i was elected to end wars and i am not the president who was elected to launch another war, but this is something that we have to answer, otherwise it could come back to haunt us in
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the future, and because he has taken so long to articulate this case, because the syrian debacle has been going on for two years, and now it's about weapons of mass destruction. the heavy lift is heavy right now, trying to persuade the people and the congress. >> we will come back to you in just a second. politicians continue to promise america energy independence. does that mean your gas prices are immune to conflict in the middle east? if not, why not? that's next. [ male announcer ] campbell's angus beef & dumplings.
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the middle east brings up images like these from the 1970s, cars stretched around the block and waiting for gas, but the u.s. is not as dependent on middle eastern oil like it used to be. today cars are getting nearly 25 miles per hour, and oil production in the u.s. is up as well, and that means the country is importing less from overseas. the chief oil analyst at the oil price information service and he says the u.s. is less reliant on the middle east than anytime in the last 30 to 40 years. >> producing about 2 million more barrels of crude than we were in the first arab spring in 2011, and more crude than 2003, and our canadian neighbors to the north are sending us 2 million barrels add day.
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>> christiane, some speculated long-term this will reduce america's diplomatic footprint in the middle east. as somebody that spent so much time in that region, do you think that's true and are we seeing it already? >> i think we are seeing it already, and i think certainly this administration telegraphed a sort of moving on from the middle east towards asia. you remember the president's famous pivot to asia, and that assumes that the middle east is taken care of and everything is smooth sailing and as we know it's not, and it's unlikely to be. it's not just about the oil and the economy with the middle east, it's about war and peace and it's about terrorism and national security, regional security, and regional allies, and it's all a network whether it's in the economy or in all of the national security issues. so the middle east, the greater middle east region that we are talking about is still of vital importance, and i think certainly in the second
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administration, the obama administration is going to have to really take the whole area much more seriously than it did in its first administration. not just the arab israeli conflict that continues, but the whole post arab spring situation, whether it's the debacle and democracy in egypt or the continued carnage in places like syria, and all of these things are still on america's plate and they won't go away no matter what the reliance on oil is. >> we want to tie this now to "your money." and we have the largest trader in bonds, mohammed, the threat of u.s. military action in syria already put pressure on stock prices and sent oil higher, and the longer president obama and congress wait the more nervous
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investors seem to grow. check out the history here. 1991, operation desert storm and the two weeks leading up to congressional authorization, the s&p 500 fell nearly 5%, and same story with oil that jumped 12.5%. once the bombing started, oil plunges and stocks recover. we saw the same with the 2003 iraq war and the same with 2011 in libya. what does the threat of the syria crisis mean to the america's personal economy, especially with the jobs news we were getting this week, which frankly is not great? >> the reason syria matters for your money and markets because of network affects, syria is enter linked with other countries in the region, and it's a battlefield for proxy wars, so what you see in the oil price is the concern that the disruptions in syria could spread to other countries that are oil producers. in terms of what it means
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domestically, we need to worry not only about the oil price but also about the fact that our congress now is going to be discussing syria, and is going to divert attention from two debt differentials it must handle, how to keep the government functioning and the debt debacle, and the unemployment numbers suggests last week while the economy is healing it's healing in a gradual fashion. what investors have to wreck nice is foreign policies will also trump economic issues and in your own investment, you have to recognize a lot of cross currents going on right now, so be caution. >> thank you both for being with us. appreciate it. you think the conflict will be confined to the middle east, think again. what else is being targeted coming up next.
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as president obama scrambles to win support for a military strike in syria, a new type of warfare is coming into focus, the emerging threat of cyber attacks. cnn money's laurie segall joins me. >> we are hearing more and more about a dangerous cyber attack, one that could target our nation's infrastructure. take a look. >> we call this a pipe rupture in the process. >> that pipe is filled with water. but it could be filled with oil. even acid. >> there are safeties in here such that when the isolation involve is closed we should turn off the pump. >> that didn't happen because the researchers hacked this. it's the same kind used at oil
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and gas facilities. that means this hack could cause water tanks and gas pipes to overflow, and it could take down major infrastructure by infiltrating codes that makes it run. >> you could cripple an entire country through cyber means and attacking infrastructure. kennedy says if there is a conflict with syria, damascus could respond in cyber space. >> they have big allies that have decent capabilities out there, such as iran and russia, and they are definitely capable of launching a cyber capability towards us in the united states. >> the researchers took control of signals to change what an operator sees, to highlight the vulnerabilities they recently presented findings publicly. >> we can make it look to the operator that our process is actually lowering. >> hackers can do it because the unit is connected to the
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internet with a public ip address, and so are other parts of america's infrastructure that are remotely controlled like trains and water towers. >> how does it manifest itself in the lives of every day people? >> it could mean a train runs off the tracks and causes a huge accident. there is lots of kind of unpredictable things that could happen, because these systems are in a lot of different areas and in a lot of different industries. >> united states is already on the defensive, after a group calling itself the syria web army took over some things like "the new york times." >> what countries can do is impact us from the more information side of the house, what we do electronically. >> none of this is a surprise to washington. the department of homeland
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security have committed billions to fight against cyber terrorism. i recently spoke to a hacker that said he is a leader in the syrian electronic army and they tested out these >> it is scary. working her hacker contacts. we've all been talking about syria and american fashion designer kenneth cole is no exception, know maybe he should be. coal caused an uproar online when he tweeted, boots on the ground or not, let's not forget about sandals, pumps, and loafers. co he says the tweet was meant to provoke dialogue. guess it worked. it's "money time." remember this phone? microsoft is buying once dominant nokia for $7.2 billion. the move will put microsoft up against apple and google. it's official, apple sent out invitations for the
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september 10th event. that's this tuesday. tech enthusiasts are expecting the company to announce a new iphone. forget the times, now you can check your e-mail on your watch. samsung revealed its galaxy gear smart watch. the watch has apps, a camera, and even a heart monitor. can you hear me now? verizon is taking full control of verizon wireless buying out partner vodafone for $130 billion. careful where you park your car. a london skyscraper known as the walkie-talkie building is reflecting an intense beam of sunlight so intense it melted part of a jaguar and was used to fry eggs. coming up there, is something much different flying off a tall building in rotterdam. is it a bird? is it a plane? whatever it is has got these guys excited, but does it have anything to do with your money?
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all right. you have to check this out. a trick shot from 321 feet above the ground off rotterdam's euro tower into a basketball hoop below. it took 62 tries, but he finally nailed it. he's part of a group which calls itself how ridiculous. the group beat its own world record with that sick shot. okay. now we have to admit that video has nothing to do with your money but we thought it was pretty cool. big bucks and sports are never far apart. so here is the score. president obama hosted the super bowl champion baltimore ravens at the white house in june. now the ravens will host events for obama care. starting next month, the team will promote maryland's haealth benefit exchange created under the affordable care act. apparently raven fans are a perfect target. the state's department of health says 71% of the uninsured
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population in maryland have watched, attended, or listened to a ravens game in the past year. corporate america now stepping in to help prevent concussions. under armour, general electric, and the nfl are offering up to $10 million for innovative brain injury protections for any sport. all industries, organizations, and technical fields are welcome to participate. and finally, outside sports authority field at mile high in denver, a sign about getting high. the 48-foot wide billboard sports the broncos colors and says stop driving players to drink. a safer choice is now legal here. that's a reference to the voter approved referendum in colorado making marijuana legal for adults. they claim the nfl has been encouraged alcohol use while punishing pot. the nfl's 2013 season kicked off thursday night. the denver broncos took down the reigning super bowl champions,
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the baltimore ravens. it was a blowout. broncos quarterback payteyton manning matched a record with seven touchdown passes and man something also winning off the field. christine romans takes a look at the business of being peyton. >> reporter: football is a family business for peyton manning, and business is good. payton's dad, archie manning, and' lie, played quarterback for ole miss. they went on to play in the national football league. but payton didn't follow in his family's footsteps passing up ole miss to play for the university of tennessee. breaking dozens of collegiate records along the way. in 1998 manning was elected first overall in the draft by the indianapolis colts. he signed a $6 year-48 million deal and turned the struggling
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team around. not bad for a first job. in 2007 manning finally silenced his critics and won his first and only super bowl ring to date. even peyton manning is expendable in the violent world of professional football. after signing a contract in 2011, manning wend under the knife for a neck injury. the quarterback was out for the season. and then the unthinkable, as manning was nearing a $28 million bonus -- >> i leave the colts with nothing but good thoughts and gratitude. >> reporter: but this is not an unemployment story by any means. peyton joined the broncos fining a five near, $96 million deal. >> i'm very excited to begin the next chapter of my playing career for the denver of peyto.
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>> i million bucks making him the eighth highest earning athlete in the country. manning doesn't keep all that wealth to himself. as soon as he joined the nfl, he started the pay back foundation to help at risk children. he helped fund the peyton manning hospital in indianapolis and provided scholarships to tennessee students every year. at the age of 37, manning isn't finished yet. he's already got one championship, but, remember, little brother eli has two. football for the mannings is quite the lucrative family business. christine romans, cnn, new york.
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>> coming up next on cnn "newsroom," before edward snowden and bradley manning were even born, there was another nsa contractor who became infamous during the cold war for selling secrets to the russians. his name is christopher boyce. cnn sat down with him for his first on camera interview in 28 years. cnn "newsroom" starts right now. i knew this was going to be a heavy lift. >> and after the g-20 summit it may have gotten heavier as a congressional vote looms on whether to strike syria, the white house goes into full-court press to win support at home and abroad. >> i can't erase what i have done, but you can still be saved. your victims can still be saved.
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