david: you don't have to stay up all night. we'll be up all night tracking the storm. we have a convention going. the republican convention in tampa. tonight on fox business there is stuff happening down there in tampa. the storm missed the city. i will join neil cavuto for special coverage of the republican national convention. it all starts 8:00 p.m. eastern. >> i'm dennis kneale. in for melissa francis. here's what's money tonight.+++%

rival, samsung. a billion dollar verdict on

friday. mean while, shares of samsung, plummeting more than 7% on seoul's stock exchange that is 12% of the market value of that company. concerns growing eight samsung devices may be banned entirely from sale in the u.s.. wholesale gasoline futures leaped 2 1/2% today as tropical storm isaac bears down on a critical stretch of oil refineries along the gulf coast. that tropical storm isaac, indeed, taking a bead on the gulf coast. it is gaining strength as it gets closer to landfall. could hit as early as tomorrow night. as a category 1 hurricane and bring as much as 20 inches of rain, a 12-foot high storm surge. winds up to 95 miles per hour. most recent projections show isaac could make landfall on the southeastern louisiana coast around new orleans and the fox weather center will be tracking the storm and we'll bring you updates as we know more. the agency that oversees oil

and gas drilling has dire predictions about tropical storm isaac. it is not even a hurricane yet. bureau of safety and environmental enforcement says daily oil production in the gulf plummeted more than 7% of the temporarily as a result of that storm -- 78%. andy lipow. i hope i said that right. >> you got it. dennis: how bad will this get for petroleum producers and what does it mean for me next time i go fill up the tank at the gas station? >> well it is really significant for the refineries in the new orleans area. we have 10 of them that account for 12% of the refining capacity. we're already seeing half of them shut down. as you mention it futures prices were up eight cents a gallon today. that means there is more pain at the pump for the consume over the next week. dennis: prices at pump, last time i checked earlier today, 73 in$75. up 26 cents past month. -- $3.75.

22 refineries in the past the isaac. is this price increase because of a mere fear what could go wrong? or literally a very smart response what we really think is likely to go wrong? >> we're already know that the refineries will shut down and the futures are reacting to the supply disruption we're about to see. one of the good things is that the two refineries over in mississippi and alabama, it is now unlikely they're going to shut. they're really at the cusp of the storm track. dennis: wow, at the cusp of it. overall you think this storm will cause less trouble than the markets are actually fearing right now, is that right? >> yeah, because everyone is comparing it to hurricane katrina which was much more severe storm. the biggest issue that we have right now is the flooding impacts especially on those refiners southeast of the new orleans area. but given the drought, given low level of the mississippi river i don't expect to see flooding like we did during katrina. dennis: that was where katrina had its worst

devastating effect in the actual flooding after the storm itself. now after katrina i believe that gasoline prices instantly popped up 17%. are you thinking we face nothing like that increase after isaac? >> no, i don't think so. i think, maybe, 5% tops which is about 15 cents a gallon. in fact what we have to do is wait until wednesday and see what kind of damage occurs as the hurricane does cross through new orleans but keeping our fingers crossed if it is just really a wind event and some minor flooding then the refiners will be able to start operations quickly and return to full operations in 10 to further teen days. dennis: i see. if the overall impact of this storm which is not even a hurricane yet isn't as great, perhaps the, heavily focused impact will be even worse. this idea that, i read somewhere today, $36 billion in property values lies in the path of this storm but 30 billion of that 36 is right in new orleans, one of the places that can least

afford it, given they haven't recovered from katrina in 2005. >> i mean they continue to see, you know, the economic repercussions of katrina and they're definitely hopeful that we don't have a repeat occurrence. i frankly don't think we're going to given the expected landfall strength of this hurricane. dennis: did we learn anything long-lasting from katrina that we're able to now apply to preempt a worse impact from isaac? >> well, i think we have, and a lot of it has to do with rebuilding the levees in the new orleans areas as far as the evacuation from the low-lying areas. getting puses for those who don't have transportations. all these things were lessons learned from katrina. the same can be said about the refineries. they're well-prepared for the event to occur even if the gas stations we see where gasoline is now stockpiled in tanker trucks waiting for the aftermath of the storm. many gas stations now have

generators so you can pump the gas in case they lose electricity. dennis: i see. all right. thank you very much for being with us. we appreciate that outlook. i'm keeping my fingers crossed. >> thank you. dennis: that isaac will turn out to be a wimp. thank you very much, andy. here is another scary figure. i mentioned it a moment ago. that $36 billion storm target. analytics firm corelogic said property worth $36 billion lies in the path of that approaching storm. new orleans which can least afford another hurricane disaster has $30 billion of that 36 in value. i'm joined by dr. howard bach of core logic. thanks for helping us out. $36 billion is the starting value. realisticly how much would get destroyed by a full hurricane isaac? >> the 30 six billion looks at a variety of different lapped falls in the region. worst-case scenario is the new orleans region as you pointed out earlier which has 30 billion of that.

if the army corps engineers work product is advertised the main area of the city of new orleans should be fine but it is really the outlying parishes will suffer significant damage. dennis: based on the repairs the army corps of engineers has been able to make in new orleans, is new orleans ready for the storm? >> i think the city itself is but plaque mon's parish where a lot of infrastructure haven't been left lee modernization programs f we push a 12-foot surge, our are in significant danger having a lot of infrastructure and homes destroyed. >> the great thing about predictions at a time like this, howard, no one really remembers them unless they're right. hazard a guess for us. what portion of that 36 billion do you think ends up being the price tag for isaac? will it be 3.6 billion? will it be 20%? >> i think it will be more than that. i think where we're seeing right now with it barreling

down on the new orleans area. the right side of the storm gets the worst part of the storm surge. we're really looking at new orleans all the way over to gulfport. gull port area which were all hit hard by katrina i think will feel significant impact. if we see 12-foot of storm surge, that's going to destroy a lot of coastal properties. i think we all remember the casinos fleet -- floating far inland last time. while isaac is not nearly impactful as katrina it will still move a lot of things inland. dennis: at the 36 billion, you're pegging 18, 20 billion. >> somewhere in that neighborhood if the track holds as it is now. this storm has been a little tricky to predict. if it moves into relatively unpopulated area where the worst impact of surge is i think we'll see few you are dollars. certainly as it barrels down on the new orleans area we have the most properties, the most infrastructure at

risk. dennis: wow! even at $20 billion, as devastating as that sounds, it would mean that isaac is quite a piker compared with old katrina because katrina, you go back, they were initially thinking $125 billion in damage. it may have come in around $80 billion in damage, is that right? >> right. and you know, katrina was a category 5 just before it hit. downgraded to three. that was really a catastrophic tomorrow in terms of its impact. pushing ba 25 feet of storm surge. we're looking about 12 feet, kind of worst-case scenario at the moment. in terms of pushing inland we won't see nearly the level of destruction. and then a lot of the katrina damage of course was failure and flooding, post-event in the city of new orleans. dennis: tell me about this insurance gap. i'm going to get a little bit of this wrong because i'm a journalist and don't let the facts get in the way of a good story. is there gap i'm insured for damage against the wind in a hurricane but i'm not

insured for the flooding caused by the wind in the hurricane? >> that's correct. most, if not all homeowners policies exempt flood damage. and so the federal government, through their federal flood insurance program, is the main insurer. unless you have, fema flood insurance you will not be covered for flood damage. of course the issue that became so commodity verseal after katrina was it wind first, water first? and, that's where the real rub is. but, one of the reasons we do these storm surge studies is to show, number of properties outside of a traditional fema flood zone which people should consider getting supplemental federal flood insurance so they have protection. dennis: all right. thank you very much for that latest update. we appreciate it, howard. >> hey, my pleasure. dennis: thank you, sir. we ought to let viewers know that the u.s. national hurricane center is now saying that isaac will

become a category 2 hurricane when it makes landfall. again nowhere near as strong as katrina. wall street will be drooling over any whiff of new stimulus that the fed conference in jackson hole later this week. but the fed's muddled message could hank investors out to try. we have details next. pluses tropical storm isaac force the republican convention to kick off with a bit of a whimmer. looking for a better place to put your cash? here's one you may not have thought of -- fidelity. now you don't have to go to a bank to get the things you want from a bank, like no-fee atms, all over the world. free checkwriting and mobile deposits.

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dennis: i have no idea what that song was. is the fed waging war on itself? at the fed's most recent meeting of the open market committee members seemed ready for looser policy soon. that came clear in those minutes. but enthen a fed hawk that view was steal and thereafter another fed guy contradicted the hawk, bullard and said we need new action. and then this friday, chairman bernanke may try to iron out the fed's muddled message when he gives his latest outlook in jackson hole, wyoming. let's ask an expert will we finally get clarity? gerald o'driscoll, former dallas fed vice president and cato senior fellow. just an outsider i feel like this is the most muddled message i've seen from the fed as it tries to be more transparent than any previous fed in history. am i wrong about that? >> no, you're not wrong. i have never seen a such a

muddle and i don't know how you can say that minutes of a meeting that are three weeks old are steal. i mean nothing happened in those three weeks that was definitive. nor do i think anything definitive will happen in the next three weeks. i think if they felt the way they seemed to have felt they should have acted then. and not waited until september. dennis: seems like the fed though, even the guys who want to loosen up policy, are a little worried about the criticism they will get from the political sector, saying that they're either doing it to juice up the election for obama, or that they're you know, wasting our future on mortgage debt, making the too -- rates too low for the government to borrow. are they looking at political implications or the economic numbers. >> they're looking about political i am flick case and if they realized mid-summer is last beating they should consider any new kind of policy action, new policy, because doing

something in the middle of september two months off from the election i don't know how it would in the be interpreted politically. dennis: in fact might it be interpreted politically such that the fed will fail to act in september? do you think that is a possibility? that they don't do any loosesy goosesy things in september? >> if they fail to act they will be accused of kowtowing to the republican critics f they act they do something aggressive, then they can be interpreted as, you know, will be accused of trying to help the president. now one way of interpreting bullard's comments was he was trying to say don't do anything major but something modest is okay. and he that's what he may have had in mind. dennis: and yet the economy is just punk growth. it is bearly getting by. seems like doing a little tiny thing and the fed's same efforts that so far resulted in almost no progress at all simply won't be enough, will it? >> no. but look, these rounds of quantitative easing don't have any permanent effects.

they cause a sugar rush in the financial markets. there's a rally. we've done two. why is the third going to be different than the first two? the problem is the problems in the economy have to do with taxes and regulatory cliffs. that is clear in the reports. businesses are afraid to hire. buying bonds will not change that. >> we've got two things coming up. we have the big open market committee meeting in september. >> yeah. dennis: we have this fly fishing extravaganza in jackson hole, wyoming where the guys get together and schmooze. do you think bernanke will continue to muddle from his big address on friday out there or will he have a new one sentence phrase that sends stocks soaring? >> he may but he may not even, his speech may not even be on the near term economic outlook. he could end up writing a academic paper on a long-term issue in order to totally avoid the topic. that would not surprise me.

dennis: oh, man. that would be so disappointing. wall street has a tantrum when the fed lets them down. might it be, gerald, instead of waiting for the fed we'll have to turn for solace to the european central bank or the central bank of china? do we need some other central bank in some other big economy that is also dormant and to step in here and do something loose? >> it is hard for any other central bank to move the u.s. economy. we could move the world but not the other way around. dennis: i like that. we can move the world but the no earth way around. you know what? european central bank and china central bank, you keep that in mind. thank you so much for being with us tonight. we appreciate it. >> happy to be on. dennis: okay. tropical storm isaac has crashed the republican party in tampa, forcing the polls to put their convention on hold. there is a way to start beefing up your portfolio on election 2012 right now. the market mover with an innovative strategy is here with details next. apple wins a landmark

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dennis: breaking news on a city group settlement over

mortgage-backed securities. our adam shapiro has the details. adam. >> dennis, it is another in a long list of banks settling over the mortgage-backed security issues that were issued during the financial crisis and before. this one, a $25 million settlement between citigroup incorporated as well as two parties in the case. this would be the ann arbor employees retirement system and the greater kansas city laborers pension fund. they said in the case they were misled about the quality of mortgage-backed securities they purchased just before the u.s. housing market took a tank in 2008. now, citigroup was part of a settlement unrelated to this, with deutsche bank. they paid a combined 165 million. that was a settlement with national credit union over the rules and underwriting mortgage-backed securities. bank of america has settled its merrill lynch unit. 315 million for lawsuits brought by 18 different kinds of pension funds over mortgage-backed securities. this is the latest. $25 million settlement. the face value of the fund involved, the

mortgage-backed securities rather was is.8 billion. 25 million seems like a bargain. back to you. dennis: sure does. thanks very much. adam shapiro. the gop convention officially kicks off today. however as we swayed earlier with hurricane isaac roaring through, republicans in tampa, florida, pushing a lot of festivities off until tomorrow. fbn's rich edson is on the ground with the latest and what to expect from the big day. rich? >> well, dennis we were expected to have tens of thousand of delegates here. instead republicans pushed this off. we've got empty chairs and band rehearseals. they thought, republicans did would get a storm directly here this weekend. so they condensed this convention, they pushed off today into tomorrow. so tomorrow those chairs will be filled. tens of thousands of delegates from all over country. they will be casting their votes mostly for mitt romney. governor mitt romney will not speak until thursday night. we get the keynote address from governor chris christie

+++xew jersey. voters go how should you prepare your stock portfolio. looking back since 1981, that is eight elections, the dow has climbed, during the president's first year in office five times. but we have seen some declines. you can see that there. we have jm from gfi group

with fearless prediction. what do you think the markets will do this time around? >> since the fed is so accommodative and the rest of the central banks around the world that kinds of moves us away from the presidential cycle a little bit. obviously the first year and last year of presidential cycles are usually bullish for the stock market can. this one has been. hopefully will end higher. our target is 1475 for the s&p as we move year-end. dennis: year-end 2012. >> 1475. dennis: we're at 1400? >> 1415. dennis: that is pretty nice gain between now and then that must mean you are betting more on a romney victory than an obama victory? i'm thinking obama victory will not be good for stocks? >> right now, gfi is a bilge i would say, romney supporter. we come out on that edge of the card but, in terms of where the market's going to be, as romney moves forward and hopefully, gives us a little bit more clarity and the pick of ryan we think will help us on the fiscal

side, the united states lost a aaa rating not too long ago. nobody is talking about that. if we get any type of fiscal clarity obviously, some entitlement spending reductions, maybe coupled with a little bit of tax incentive and maybe even tax hikes so we don't end up like greece that will be an impetus for the market to take some of that $2.5 trillion that is sitting on corporate balance sheets to put to work. right now we're seeing a big surge in temporary hiring. that is because as demand comes in, employers hire temporary workers rather than the incremental long term employee. dennis: if there's an obama sweep though, in november, that means that all the current tax policies go into place. that means taxes on capital gains will go up. taxes on dividend will go up. will we see a big seven y'all as people decide to get out ahead of time before the tax rates go up? >> our view the fiscal cliff will be put off at least six month. no matter who wins i don't think there will be any clarity probably until june of next year. so we don't think that is

going to hit january 1st. dennis: so you personally are in the seeing any need to sell out of your own stock accounts in advance of november because you think there will with be a selling avalanche? you don't think that will go? >> no. there is too much money. china central bank will ease probably two or three more times possibly before the end of the year. dennis: wow. >> we think the ecb will continue to do bond purchases. draghi came out just a couple of days ago and said that the euro is going to be lasting forever. merkel echoed that. dennis: yeah. >> we're starting to get away from the bundesbank policy of fear of deflation and now they're starting to understand that what europe needs is a combination of some austerity but they also have to concentrate on prosperity. so they need to incentivize those countries to maybe the tough choices, the tough cuts but also have something to look forward to in the end. dennis: okay, if obama suisse, no need to sell. if romney wins you should go forward and buy because stocks will roar. what if it is divide and

conquer? what if obama wins but republicans gain control of house and senate? we hold off and not sell? >> that would be the best scenario if obama did become victorious in november. obviously any type of split government is good. the markets like that because they don't feel like there will be any major policy that will come down the pike. dennis: right. >> really in essence going forward, the s&p, actually said that if we don't change our ways we'll get downgraded again. that will was big problem especially if the economy does pick up. you will have people wanting to sell treasurys because of fear of inflation as well as possible downgrades. dennis: there was that big downgrade of u.s. government debt. turns out 10-year treshrest right now are paying lower interest than they were in the meltdown. i'm with with you. thank you so much for being with us, john. >> thank you. dennis: appreciate it. apple won that stunning billion dollar verdict in its epic patent battle against samsung. but a new patent brawl is targeting the u.s. government. the inventor at the center of it is here to explain next. plus tip jars are just

so 20th century. why the electronic tip jar may start popping up on restaurant and coffee shop counters across the country. the company's cofounder and ceo will join me. piles of money coming up. ♪ . .

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♪ . everybody rules the world. after decisive victory against samsung on friday the folks at apple now trying to stop u.s. sales of eight samsung mobile products. landmark case shining new light on patent laws. one entrepreneur is suing the government over new rules he says will hurt small businesses and investors. mark stadnik, sorry about that, mark the man behind the lawsuit. >> that's all right. dennis: thanks for being with us. you look like an inventor or maybe even a motorcycle rider which is actually appropriate. one of your three patents is for a motorcycle windshield to let it be adjustable and such. start with the old bait and switch and talk about that apple samsung ruling. i would think that you love the apple victory because, buy golly they invented that stuff.

now they protected their right. >> that is exactly right. that is what the patent law is about 220 years. you're the inventor. it is your property. you own it. if someone wants to use the property. fine they have to ask your permission. but it is your property. that is the core of our patent law and has been that way since 1790 or so. and the, go ahead. dennis: indeed, it turns out samsung, has the offer from apple early on to pay a $24 per gadget. would have cost it 545 million so far instead of the billion dollar verdict. plus triple damages but loss of market value. hear is the thing. pat tepts used to exist to allow people to cross license and innovate. now they're being used to ring fence. that is the problem you have with the proposal from the patent office. what is the change coming up and why does it bother you? >> the change is rely a reversal. it takes away property

rights of the inventor because the way the law is worded, the new language although includes the word inventor comes down to the first person to file the paperwork. in other words whoever shows upt the patent office with with the paperwork first, gets to be the, patent-holder that is not what the constitution says. that is not, a protecting my property rights which is what the government is supposed to be doing. so it completely removes my personal property rights to my own creation. dennis: so mark, the thing is i would say i want to file a patent for a space elevator that will take me from the ground up into space. i haven't invented it yet but if i'm first to file i will get the protection first. is that the problem? >> yeah. now let's say you wanted to work won that but this is not something you're going to be able to perfect within a 12-month period of time. it may take two or three years. meantime somebody hacks into your computer. somebody sees you working on it.

they file, maybe a crude prototype of what you have. and, two years later, when you finally get it working now you're ready to explain to the patent office how it works and that you want a patent. somebody else already patented it you find out. under the new law, unlike apple that could go before the current law say, hey, we were the first, the new law says, well that guy filed first. so, he gets to be the patent-holder, unless you can prove that he stole it from you or copied your design. and that's not something in the constitution. dennis: between kindergarten students. was this a change in patent law ordered by congress or is this just something a few bureaucrats at the patent office decided hey, let's make a good change? >> no. this has been brewing for quite a few years, at least 10 years. repeatedly, trying to get, get this changed. this really is to the advantage of larger companies that have teams of lawyers, all kinds of

research facilities. they can protect the secrets that they're working on. the little guy like me can't do that. but, last year's congress, they somehow made it, made the wording pal latable and, basically squeezed it through without a whole lot of testimony. in fact i'm not sure there was any testimony from small inventories, small investors, venture capitalists, the entities that would be hurt by this. dennis: all right. one motorcycle-riding key host tee against the entire u.s. government and the entire patent infrastructure. i wish you luck. thanks for being with us tonight. >> thank you very much. dennis: the digital revolution comes to tip jars. the electronic dip jar wants to populate the counselter tops at coffee shops and other stores across the country. the company's cofunder and ceo joins me to explain next. at the end of the day, it is all about money. ♪

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. . ♪ . dennis: some of the best music on the entire network runs in melissa francis's

show. as we use credit cards forever smaller purchases we sometimes skip the tip because we're short on cash. that decline at the tip jar has inspired one small business owner to devise a new product to fix it. rider kester is owner of dip jar. a new way to use your credit card. thanks for being with me. you go through the coffee line and pay like you do and go to put the baby in the tip jar. how is it going so far. you're testing thing in three stores. >> we're in three stores part of a 10 store pilot. it is great. they can enjoy the east of plastic but tip favorite employees. employees are collecting extra money they haven't been getting because more and more people are not using cash so they're not tipping at all. working out great for everyone. we're getting request from everyone who want the tip jar. dennis: you designed this baby to be bigger than you need to be. you like the idea of where we actually see a jar in

essence, right? >> absolutely feels and looks like a tip jar. feels safe an secure but incredibly simple. one step process like dropping a dollar bill into a cash tip jar. you dip your card in and leave a tip. dennis: you applied for patents on this baby? after that samsung ipad apple ruling seems like anyone does anything in the shape of this will be in trouble? >> we have absolutely applied for patents on the device and trademarks and everything we have to do to protect our product. dennis: let's go after a couple of obstacles here. you need conflict to make your story interesting. first obstacle, can't verisign or maker of card swipe machine simply rip you off, grabbing a that stuff, swipe wants to pay, swipe another time for a tip. can you be obviated? >> i think we're in a great place. we do something simple. we're separate from the point of sale system. if you remember starbucks had a huge class-action lawsuit and how they were

collecting an dividing up tips. retailers don't want to be involved in tip collection and dispursement. they don't want it part the point of sale sip. they like we take care of everything. once we're on the counter, they do nothing at all. that. dennis: that is quite interesting retailers don't want to be burdened with doing themselves. secondly another conflict idea, aren't you having, rider, an awful lot of human faith in people's generosity? don't a lot of people simply want to avoid stipping? >> i don't think so. i think people want to tip. these what we've seen from our pilot. people who play which is plastic still want to tip. that is part of the reason that cash tips used to be very high in these counter service employees would collect four or five per person per hour in cash tips that is down to dollar, $1.50. there is huge gap of people playing with plastic but still want a tip. dennis: wow! you have a good. i have another one coming for you. >> keep it coming. dennis: once i put the baby in there, there electronic

record transact shun of that tip. a lot of waiters don't pay taxes on tip. when they get it electronically they better because now there's record, right? >> that is a great question. the cash tips they collect are subject to tax and our tips are exactly the same. money goes to employees. it is their responsibility to report their income. we think it is worth it. we're putting so much extra money their pocket they didn't have yesterday. tax report something small price to pay taking home hundreds of extra dollars a year. dennis: that was pretty good job. you prosecuted the case well. thanks very much for being with us. >> thanks for having me. >> rider kessler. how much do you sell out for your kids allowance? a stunning it new study finding the average child make raking it in for chores they should have been doing it for free. we have the details next. ♪ .

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♪ . dennis: all right. it is too i am for a little spare change. today, we have democratic strategist, julie roginsky

and fox business's own sterling voice and sterling haired, ashley webster. >> thanks very much. dennis: okay. appreciate you being here. the first story kind of amazing. a low budget, anti-obama documentary, finishing number eight at the box-office this past weekend. grossed more than $9 million so far. 2016 obama's america, premiered in a small theater in texas. showing two more locations. do you guys see this movie. julie, must have. >> i believe it or not did not rush to see the movie. i spoke to dinesh about it. i saw the trailer. kind of crazy conspiracy-minded. obama is kenyan colonial apologist. he wants america to fail because his kenyan father. dennis: are you shocked it -- >> no. a lot of crazies out there. a lot of crazies out there. >> michael moore, "fahrenheit 9/11.". conservatives will flock to it and see it and have their

suspicions and thoughts confirmed. i think those on the left want to see because they want to know what it is about for their own imagination. dennis: i was thinking what might have gone on, people undecided in the middle and feel four years later they don't have feel for who obama is decided to look at it. >> people don't, i think a lot of people still really don't know barack obama. think they really can't get a feel for this guy. >> you look at polls. only three to 5% of registered voters are undecided that is such a minuscule amount. i hate to say this. all the time we spend talking about it. three to 5% are undecided. miracle to me that people have really made their minds. they love obama or hate him. dennis: the argument he makes, obama because he wasn't raised in america the way regular american kid, doesn't believe in american exceptionalism. he is equal at world table of leaders. he is not the leader of the world w not a crazy radical theory going on there, is

it? >> what, not because of what you said. the crazy radical because he kind of says, obama's father was anti-colonial kenyan. >> turns out to be true. >> which may be true. therefore, obama, carrying man tell of his father i think he and his father never really had a relationship. forward and saying i want america to be less than it is because i want to apologize for everything america has ever done. >> we went to the muslim world and apologize to the muslim world. in a sense he did. dennis: we will call that one a draw. next up, ne a new survey says te average american kid gets $15 per week for allowing setting up to $780 per year. instead kid suspended on hanging out with friends and toys.

what do you think kids should get for loans? the average u.s. household has savings of only $7000. this is more than 10% of a family savings. >> $50 will not get you into the movie theater. new york city, have to check the cost of living. >> it seems awfully low. my daughter is fantastic with money, she will say then save and save. they're 50, 60, $70 forest to save for those. definitely i don't think americans are very good savers. >> i have a three-month-old son, i am wondering what it will be like. >> start saving right now. >> have a 12-year-old daughter, my ex-wife was taking a certain

amount out for taxes that goes back to the house and a certain amount for contribution to sunday church. but really, you end up with nothing left after that. >> i had a friend high school that would get 20 to $30,000 per year, but made them pay rent and she's grown up to be a huge executive and those money better than anybody else. dennis: what about the notion i am not giving you allowance to do chores that you should do for living under the roof. >> there is something to be said about that. it should be done because they want to contribute, in a perfect world. dennis: we will leave it there. finally looking for a real way to cut costs, government agencies surveying for suggestions now reviewing the newspaper and magazine

descriptions and cancel those for employees who longer work there. that alone will save more than half a million dollars. printing on double-sided pages and replace employee survey which cost a million dollars per year for a free survey. what do you say? >> go to vegas and put it all on black. take the money come you say that, you earned it. >> stop subscriptions to employees that don't exist anymore, how genius is that, shows how much government waste there is. dennis: the more money there is, the more money you have two ways. this guy a driver so absorbed in the direction of his gps he took a sharp right and when told drove right into the harbor.

>> you read about these things all the time, the semi drivers s that will just follow them blindly. >> why do you listen to the gps but never listen to the women giving directions? i'm sitting next to you and you don't know what we are talking about, the gps tells you to go into the water and you are like yeah, no problem. dennis: and it seems everything is a battle of control between the spouse. >> it can be. >> maybe if you listened to the spouse and not the gps telling you to go into the river. this is a lesson in relationships for you, dennis kneale. dennis: yes, think it is. >> if your ex-wife would've spoke like a gps instructor, everything would have been fine. >> i'm just kind of surprised that thing even exists. now absorbed into the cell phone. trying to