tv Your Money CNN January 18, 2014 6:30am-7:01am PST
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crisis with candy crowley and christiane amanpour. >> "your money" starts right now. the top 1% of households have taken home 95% of the income gains in the recovery. what is left for everyone else? i'm christine romans. with the perspective from washington and the world, christiane amanpour and candy crowley and i sit down to talk about the problem. when it comes to your economic status, where you are born is still where you will stay. >> people like myself or other immigrants to take advantage of the american dream, it is still alive. for americans born here, what we are seeing is that dream is petering out. for the first time, a majority of americans do not believe they will have a better life than their parents. their parents don't believe
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their children will have a better life. that is the fundamental building block for the american dream. you know, the great distinguished economist said this is the most unequal of the major industrialed societies, not just in income. if you are born rich, you stay rich. if you are born poor, you stay poor. that is the general parameter. >> we know income equality is the issue. about 70% of americans born in lower income households never make it to the middle class or upper middle class. those who do, have things in common. half came from dual income families. about one-third never experienced unemployment growing up. >> role modelling. a lot of that. the home you are born into is what is your norm up until the age of 16 or 18 or whenever you get out of the house. we know education. >> absolutely. boy, oh, boy, that plays a
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fundamental role. every time you do a report, christine, you talk about the number of jobless. there are actually millions of jobs available. guess what? this is true in europe right now. children are not being educated for the jobs in innovation and technology. there are depressing statistics about the number of high school interstat students who are ill prepared. that education guarantees you more income. the united states is the only country of our industrialed democracies that puts more money into healthy school districts and less into the struggling ones that need it. >> partly because they are tied to property tax. states are rethinking how they are funding schools. >> let me ask you about poverty. the war poverty and i saw the republicans trying to own this conversation. i found new, i think.
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usually that is something that democrats really rally their base up on in an election year. what is happening there? >> cares about people. it goes back to there. again, you have to say it is an image problem. we don't hate hungry babies. this is ridiculous. they have to sell their message in a different way. >> message and policies. >> you have a great message and terrible policies. >> absolutely. you look at the minimum wage debate or long term unemployment debate which is the place where they are arguing income inequity now. how do the republicans approach it? they have to say what are you for? >> the vast majority of americans today live lives much better than their parents. we troubled rightfully. because many of our people are caught in what seems to be a pervasive unending financial struggle. >> rubio coming out and saying we need to do something about
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this. poverty programs have not worked. what about if we give the moneys and programs to the states. they know they have to come to this table. >> this is our moment. this is our time to put our people back to work and open doors of opportunity for our kids. >> are those who five years ago, elected this president on hope and change, are they disappoi disappointed in the obama economy? >> sure. of course they are. if it is not the economy, they are disappointed he did not act quickly on the immigration or nsa surveillance. they thought he was the guy to say this is no good. honestly, i have to tell you, i have never seen a president so defined by other people's hopes. they were able to take this man who, you know, promised just by his very being there of changing america and then when they started to see what that actually meant and how hard that was, it becomes a disappointment. it is not necessarily he failed,
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but they wanted him to do something quicker and bigger. >> all the real experts say a proper immigration policy would expand and contribute to the u.s. economy. germany has been good about its immigration and as you see, it is a major economic power house. there is links between how you integrate and use your population to help fuel economy. >> america's place in the world as a beacon of light. >> you always hope for everything and you never get everything you want. leadership and to see is the economy, you know, move the rest of the world. to that point, there are some very important european business people who are now looking at the united states and this potential or existing new boom in shale and energy and who can foresee that america might very soon once again become the real, real dominant power house in the economy. >> that will have security
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implications we will talk about at another time. thank you. the war on poverty in the u.s. 57% of americans are between ages 18 and 64. coming up, do these guns look a little, you know, feminine to you? why the gun industry is now targeting women next. i'm re the mayo? corn dogs? you are so outta here! aah! [ female announcer ] the complete balanced nutrition of great-tasting ensure. 24 vitamins and minerals, antioxidants, and 9 grams of protein. [ bottle ] ensure®. nutrition in charge™. suddenly you're a mouthbreather. well, put on a breathe right strip and instantly open your nose up to 38% more than cold medicines alone. so you can breathe and sleep. shut your mouth and sleep right. breathe right. of the dusty basement at 1406 35th street the old dining table at 25th and hoffman.
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seriously wounding two students. in indiana, two women murdered by a gunman in a grocery store. daily violence of guns do little need to quench the thirst for firearms. manufacturers and retailers could not keep up on the rush. that rush, we're told, leveling off now, a year later. i want to bring from aaron smith who just returned from the industry's big trade show. aaron, business is still very good. >> yes, it is. sales are up. they may be leveling off a bit. i went to las vegas for the trade show. this is sponsored by the national shooting sports foundation based in newtown, connecticut. only business people are allowed to attend the conference. more than 60,000 people attending the conference hall the size of ten football fields.
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>> the new market for an old product. you actually got to shoot some machine guns. i'm told there is a way for regular people to actually get their hands on these. >> it is called machine gun tourism. it is thriving in las vegas. five gun ranges have opened up over the last year. newer guns like the ones currently used by our soldiers in afghanistan, can only be purchased by people in the business. people who own gun stores and ranges. for the purpose of demonstrating them for law enforcement and military. once they get that initial demonstration out of the way, they are free to rent them out on the range. >> not to take home? >> not to take home. >> a big theme, guns for women. this is a market that is one of the fastest growing areas of gun purchasers, women. >> yes. there are a number of gun companies that cater specifically to women. one company called eaa in
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particular. you will notice they have small semiautomatic handguns that tend to be pink and purple. a style thing. they tend to be smaller framed and user friendly than the firearms that are marketed to men, but everyone i suppose. they have ar-15 style guns that are pink. this appears a style choice. they also eaa makes purses with a concealed carry holster. >> interesting. i know experts have told me it is a fast growing part of the industry. aaron, really nice to see you. thanks for bringing your video by to show us. >> thank you. >> the business of guns is booming, but movie sales. the ticket sales topped $10 billion. movies about guns are often the biggest hits. "lone survivor" is on track to make 100 million dolla$100 mill. this is the story of the navy
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s.e.a.l. proper survived against all odds. we have the story and the business of being mark wahlberg. >> "lone survivor" brought home more than $33$38 million in the opening weekend. mark wahlberg produces and stars in the story of the navy s.e.a.l.s fight for survival. he grew up in a boston neighborhood and struggled with drug addiction and jail time. rap was mark's way out and marky mark and the funky bunch was born. "good vibrations" made it to
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number one. from music to modelling, he stripped down to his underwear for $100,000. he was soon replaced by the hollywood marquee. he starred in "the perfect storm," "the italian job," "the departed," "the fighter," and "ted." made on a 50 milli$50 million b. all told, his movies made more than $3.4 billion. he is the producer for "entourage" and others. he teamed up with aqua hydrate. >> i was always a hustler.
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>> he found time to graduate high school last year. he founded a foundation to help kids. >> i could not find myself without giving back. >> what is next for the superstar? he is getting his own reality tv show later this month. "the wahlbergers." the next transformers movie as well. from rapper to model to hollywood business mogul, when it comes to the business of being mark wahlberg, there is not much else to say. >> the video's over. >> it's not an action movie. self driving cars are here. >> it's possible to even catch some zzzs in the audi. >> we call it piloting driving. you can concentrate on something else if you don't want to actively drive. >> you can't get the kids to soccer practice and catch zzzs just yet. we will tell you what to expect right after the break.
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welcome to the future. the self-driving car sounds like science fiction but the technology is real. cnn's dan simon had the guts to get on the road with no one at the controls. how close are we to seeing these things at the dealership? >> the technology that makes driverless cars possible is getting so advanced that you could soon be seeing them on california roads but there's a caveat. this is for testing purposes only. but the state department of motor vehicles is coming up with the rules to make it possible. >> access mainframe. >> reporter: actor will smith in
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a scene from i-robot. it was 2004 and felt like pure science fiction. but now, nearly ten years later, self-driving cars have moved well beyond hollywood fantasy. >> you can just say hey, i don't want to drive right now, just take over and if i want to be back in the driver's seat, i'll just grasp the wheel and go. >> reporter: at the consumer electronics show in las vegas last week, a demonstration showing it's possible to even catch some zs in this audi prototype. >> we call it piloted driving. that means there is a driver but he can concentrate on something else if he doesn't want to actively drive. >> reporter: it's coming much sooner than you think. the state of california is taking aggressive steps to get driverless cars on the streets as early as this spring for testing. >> we're developing the regulations to allow for these vehicles to be tested on our roadways as well as being operated on the roadways. >> reporter: on tuesday, the california department of motor vehicles held a public hearing to discuss the rules of the road
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for autonomous cars. for some, there are concerns the regulations might be too strict. for instance, the rules require that a driver must be seated in the driver's seat in case they need to take over. that only makes common sense. but perhaps giving us a glimpse into the future, a volkswagen official says that might be too limited. >> we contemplate an occasion where, with redundant controls and what is referred to or known as the passenger seat, we like to call it the co-driver's seat. >> reporter: the most well known autonomous car comes from google which shows off how the vehicle could some day help the blind. the tech company is fighting a proposed requirement that it should report any time an actual driver needs to override the computer, saying a lack of context could give the wrong impression about safety. >> maybe this published information would mislead people into not understanding what it really meant. >> reporter: other issues like who's responsible if the car
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crashes, the car maker or the driver, are also part of the discussion. michigan, florida, nevada and the district of columbia have also passed laws allowing for driverless cars and are grappling with some of the same issues. we may not have flying cars yet, but the dream of a george jetson self-driving vehicle is surely on its way. researchers say these cars will be safer than human-driven cars because it will eliminate human mistakes like distracted or drunken driving. that will lead to fewer accidents and lower insurance rates. but we're still talking about seven to ten years before the cars will be available to the public. christine? >> dan simon, thanks. your home, your car, your phone, even your eyes. google is taking over your digital future. the company even has an entire division dedicated to what it calls moon shots. wild ideas to change the way we live. guess what? so do we. in a week where google made
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moves to capture the future, we've got one for them. a little market research, to boot. so what would you pay for a phone that lets you see five minutes into the future? >> only five minutes in the future? >> $1500. >> nothing. i wouldn't want to see five minutes in the future. the unknown is better. >> how much would i pay? whatever i have, i guess. >> the electronic brain's memory will do the rest. >> five minutes into the future? i don't want to know. >> all i have that is absolutely unknown to me is the future. >> about $100. >> oh, my god. i can barely afford an iphone.
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i don't know what i would pay for that. i guess $300, $400. >> nothing. i like surprises. >> all right. your future includes the surprising answer to this cnn money morning quiz. only one of these brands is actually american-owned. can you guess which one? the answer, next. studied all tht courses from the get-go. and that's an accountant, a mom, a university of phoenix scholarship recipient, who used our unique --scratch that-- awesome career-planning tool. and that's a student, working late, with a day job, taking courses aligned with the industry he's aiming to be in. ready to build an education around the career that you want? let's get to work. is your tv powered by coal? natural gas?
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it's money talk. coffee, check. gas, check. no, it's not your morning to-do list. gas and coffee, two essentials you will pay less for in 2014. also add gold, used cars and electric cars to the list. problems with plastic t government received thousands of consumer complaints about credit card companies in the past few years. the biggest offenders, capital one and g.e. capital. pizza hut and domino's both selling single slices in some locations. the two chains along with papa john's sell about a third of the nation's pizza, and the buy the slice option could help them compete even more with smaller pizza places. american whiskey. owned by japan. will something be lost in translation? >> make it suntori time. >> japanese beverage company suntori holdings acquiring american spirits maker beam for $16 billion. its brands include jim beam bourbon, maker's mark whiskey
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and cognac. google is buying connected device maker nest labs for $3.2 billion. the company develops smart home appliances and smoke detectors. now, house money. the worst of the foreclosure crisis is officially behind us. the final numbers are in now. foreclosures hit a six-year low last year, just under 1.4 million properties in some stage of foreclosure. that's about one in every 96 homes. the wave has crested but lots of you are still underwater. realty track found one in five homeowners owes at least 25% more on the mortgage than the house is now worth. the healing is slow but there is healing. thank you for starting your saturdays with us. we're back at 2:00 p.m. eastern. corporations are rolling in record amounts of cash, so why is that money not trickling down to americans looking for better jobs or just looking for a livable wage? i go one-on-one with newt gingrich. coming up right now, "snl"
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gearing up for a brand new show and a brand new face. sasheer zamata will be making her debut as the fifth black cast member ever on the show. some famous female comedians weigh in with their advice. "cnn newsroom" starts now. chris christie on the move and looking for money. in the wake of the bridge scandal that keeps getting bigger, will a florida fund-raising trip charm the big donors or alienate them? a "wall street journal" reporter disappears and a week later, investigators are still baffled. now, some reports are suggesting his disappearance may have to do with his coverage of the oil industry. a big debut on "saturday night live." sasheer zamata joins the show tonight as the first african-american woman on the cast in six years. we have our own
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