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tv   MONEY With Melissa Francis  FOX Business  September 14, 2012 12:00am-1:00am EDT

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mess. you always wonder how the family and the spouse feels mrs. ravee wants to talk to melissa: i'm melissa francis and here's what "money" tonight. mayhem in the middle east and protests and violence spread. as congress prepares to vote on a vote that will send millions of taxpayers dollars to the region. should we keep sending money to people who hate us? the chaos send oil to a four-month high. how long until it hits prices at pump? we'll ask gas expert patrick dehaan. the fed green lights measures to help the economy. wall street could knot be happier but will it do anything for you.
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staple peps coal founder will -- staples cofounder will join me in a fox business exclusive. even when they say it's not it is always about money. melissa: first let's look at the day's market headlines. ask and you shall receive, the fed giving traders what they have been begging for, an open-ended bond buying spree sends the bulls running. the dow and s&p closed at their highest levels since 2007. whoo-hoo. the nasdaq closed at the its highest level since november of 2000. wow fed easy money ignites gold. jumped 40 bucks a ounce. that is gold's highest level in nearly seven months the vix, also known as wall street's fear index, plummeted nearly 12% in the wake of the fed's announcement. now to our top story tonight, will we or won't we
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keep funding like libya and egypt as anti-american violence escalates there? a group of house republican are saying no, we should not. the house is set to vote any minute on the continuing resolution which include almost $7 billion in mideast aid provisions but is cutting all the aid for these countries really a good plan? mike barrett a principle with the international security consulting firm. david: diligent innovations. thanks for joining me, mike. what is the downside cutting aid to egypt and libya because it is very tempting right now? >> it is very tempting and would feel good emotionally, reality money we give to egypt is the military. one thing that is keeping muslim brotherhood in line. the military is pretty well-educated. they tend to be more western. they tend to be pretty advanced. they are kind after bulwark there helping long-term interests of the united states. if we're cut off funding
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we're really only slepting the hand of the muslim brotherhood. melissa: we give $1.6 billion that is late slated this year goes to egypt. doesn't seem like they're keeping things very safe. when you see pictures of rioting and protests going on. you look what happened to our embassy. we're looking at pictures right there. this is a country where we're giving mo anyone to the military. where is the money going? >> you have to think about it as two things. one basically a risk insurance policy regarding israel. ever since the camp david accords we've been giving money to egypt. basically a quid pro quo whereby they keep peace with israel. when you look what we're spending per hour per day at afghanistan that is huge bill. 1.3 billion a year is not all that much money. sound like a lot but at the end of the day it is not that much. melissa: is it working though? is it doing what it is supposed to be doing? >> it is doing one thing that matters the most,
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keeping israel and egypt at peace. from that point of view it is a good deal. remember the 1.3 billion. we don't give them the cash, give them almost like a credit and spend it on american weapons. it creates a job at home. it is not just a pure cash transfer. it would make sense perhaps for the house to vote to take a small amount as a symbolic measure. it would be dangerous in the long run if we cut it. then the muslim brotherhood will violate treaty with israel which for three decades helps keep the peace there. melissa: a lot of people were on today saying we're trying to buy friends with this money and it is not clearly working. what do you think about that perspective? >> the difference between a bribe and payment you're doing to avoid risk sometimes look after full lot the same. at the end of the day 1.3 billion feels like a lot of money. we're trillions of dollars in debt. as a country we have massive economic problems and things to deal with. this is not the straw that will break the camel's back
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in terms of our debt outlook. unfortunately it could be the straw that breaks the camel's back plunging us into war. if egypt backs away from israel and wind up with the conflagration getting worse. melissa: it is symbolic. we're giving money to people who appear to hate us. does that weaken our standing around the world? do we look like idiots. >> my personal opinion we look like idiots in terms of our foreign policy. secretary of state hillary clinton came out yesterday and saying it was confounding where it happened in libya where we worked so hard to help set up the new government of the it is not confounding at all. we took strong leaders. helped depose them and we're stuck with the chaos there. this fundamental policy debate do you achieve peace through security where people like myself come down as realists or achieve peace through open hands. president came in famously would negotiate with anybody
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anytime with no preconditionses extending open hand. it sound good that is great political rhetoric it is naive. particularly like a place like the middle east where everyone is so well-armed. melissa: what should we do to stop the tide of hatred coming at us? what could we really do today. >> one of the big pieces in egypt is again to make it very clear that we expect them to abide by their international commitments. it is also to strengthen the happened again of the military and moderates. i think a lot of americans here felt like we could strengthen the hand of the people on the streets and hey, these were young people and they were pro-democracy. reality what we did we took out the strong dictator and we enabled the muslim brotherhood to come in. melissa: yeah. >> you get into a lot of public relations and put a foot forward for western thought. you also have to be careful not to appear weak in city after city which is what we're doing right now. melissa: yeah, it is a really tough situation to
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say the least. mike barrett, thanks for coming on. >> thank you. melissa: that brings us to our question of the day, should the u.s. scale back aid to certain countries in the middle east and north africa? we want to hear what you think. like us on facebook.co facebook.com/melissafrancisfox or follow me on twitter at melissaafrancis. turning to gas now, oil hit a four-month high today and now we're seeing gas prices spike across the country. will chaos in the middle east drive all of this even higher? look at that, 98.31 a barrel. patrick dehaan is from gasbuddy.com. thank you for coming back on the show. what do you think? gas prices have nowhere else to go but up i think? >> we have danger with what is going on overseas but if there is any break we'll catch, that summer is over and summer driving season is gone. we may see oil prices rally as the what is going on the middle east unfold but it may not impact gasoline which will see weaker demand as we see the weather start
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cooling. >> i would like that to be true but i have kind of a hard time believing that. now we're looking at price of crude. it is bucking up toward the 100 bucks. we see unrest all over the middle east, sort of surrounding the strait of hormuz and that main arterry, you know, 20% of the world's oil comes from this region. traders in the nymex like to get all excited about geopolitical jitters. very hard for me to that we'll not see oil go higher and gas prices go with it as well? >> that's right. we're already seeing some analysts say $5 a barrel for oil something happens now with iran and what is going on in the middle east always kindles fear something else will develop somewhere. it is certainly a situation we'll continue to watch but you know, will gas prices fall? they likely will but will not me much of a break for an american especially if this continues to unfold in the middle east. melissa: what about the refinery situation around the country because that is what was causing prices to spike especially in pockets
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of the midwest and out in california as well because they were also supposed to be falling because we were watching the price of crude oil falling? >> that's right. as we mentioned we're out of the summer driving season but the concern becomes all these refineries typically do maintenance in the fall months. are we going to see some situation develop where we have production off-line forment innocence and -- for maintenance and something overseas happens? it could certainly ruffle some feathers. for now refineries are still producing and ramping up production post-isaac. melissa: what is your prediction for gas prices over the next month? what will we see? where is the national average and where will it go? >> national average is upper 3.80s. i believe it will start to fall but will take several weeks of solid production by refineries. we'll see prices bottom out by thanksgiving to christmas, anywhere from 3:45 to 3.75. might not be much of a break but a break nonetheless. melissa: if we see prices
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spike as a result of something happening in the middle east what could that be? what is a realistic threat right now? egypt is obviously, that is libya as well. i mean these are two countries that have a big impact on oil production around the world. >> yeah. melissa: that would immediately stop the flow of oil mostly to asia but that has a knock of-on effect to us. >> it is really a best guess. we've never seen the situational line so precariously like we're seeing now. there is whole lot could happen. people are saying 500 bucks a barrel. but i don't southernly agree with that. but we could see records if something happens to iran. that is the concern. any situation with iran. whether it be war or situations escalating overseas it could mean over $4 a gallon. melissa: that is the key. we're seeing the rest of the region ignite if iran comes into play. that's when we're real in trouble. thank you, patrick. >> thank you, melissa. melissa: stocks stocks soar after they get the fix from
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the fed but a huge hangover could be around the corner. look at that day for wall street, up 200 points. staples ceo, tom stemberg calls fed's new plan nonsense. he will explain coming up here on fox business. ♪ . [ male announcer ] wouldn't it be nice if there was an easier, less expensive option than a traditional lawyer? at legalzoom you get personalized services for your family and your business that's 100% guaranteed. so go to legalzoom.com today for personalized, affordable legal protection.
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melissa: stocks got a big boost across the board. major markets rallied on fed decision to push the economy along. putting third round of stimulus into place buying more bounds. this is an unmitigated disaster. spencer had send founder of chief investment officer at steel bind investment. spencer, why is this, you're so supportive. why is this an unmitigated disaster? >> it is really a bad situation all around because, the main thing that you have going on, is, fed printing unlimited dollars. they said they're going to print $40 billion per month. you just have to look at the reaction for gold.
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melissa: they're not printing $40 billion. be careful with our terms. they're buying mortgage-backed securities which is like pumping money into the economy. that is not exactly what they're doing. why do you think that is big deal because you think it will cause inflation down the road? >> absolutely. look at gold prices to see it up $40 an ounce. you have a real issue there. crude oil spike. this is good for commodities but perhaps not for stock prices long run. melissa: let me be the devil's advocate here. a lot of people are going against that theory because we haven't seen any inflation so far. in fact a little bit of inflation could be a good thing right now. we could use wage inflation. we could use something to spark anything. i don't know if inflation arguement really gets you there? >> i think what i really pay attention to is looking at the correlation between the u.s. dollar and the euro and you see the euro basically unchanged, a 1.30 toward the u.s. dollar this year. gold prices are up 13.5%
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this year. gold is really a measure of your purchasing power in u.s. dollars. arguably in gold terms you've lost 13% of your purchasing power just year-to-date. that is really scary to me. melissa: so maybe we should all pile into gold? there is a lot of people who think that. how high do you think gold could go? >> i think gold could be starting a new leg here into the end of the year. i think all-time highs are certainly within range by the end of the year. i wouldn't be surprised to see gold at 2200 by next june. melissa: one thing really getting juiced, we saw it again today, is the stock market. why not take a chance on what the fed is doing and ride equities? >> that is one way to be able to play it. the issue is at some point the confidence will be eroded because the fed has done unlimited quantitative easing. and so if we have another issue come, the fed is out of bullets and then the market will fall with a level of intensity that will mirror what we saw in 2008.
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and so it scares me to put my assets there for very long. melissa: what is that turning point though? because you're not alone in thinking there will be, at some point everyone will rush for the exits, the party will be over, the hangover will begin? making money is all in the timing so what do you think triggers that change? >> this may be a little bit cynical but one thing i would really watch is the participation of the individual investor. we've seen volume levels fall to 10-year lows. we're seeing individual investors have no participation. so once you start to see the retail investor come in, that could very well start to mark the top in the u.s. market. melissa: volume was high today so how do you know when the retail investor is coming in? what's your sign? >> yeah i think you could look at a number of different aspects to show volume while high relative to the last couple months is still at very, very low levels. i would want to see volume levels at 2006 or 2007 levels to really give an indicator, there's lot of
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anecdotal type of measurements you could look at in sentiment. looking at levels of assets in retail brokerage accounts that are published. those are good measurements to look at. >> cynical, pessimistic, but still insightful. thanks for coming on, spencer. >> thanks for having me. melissa: what is the impact of the fed decision on you and me? here in a fox business exclusive, tom stemberg, cofounder of staples. way want to get to it. saw think decision is nonsense. how come? >> i'm not sure it is nonsense. it will not make much difference. kind of remind the kid that rides indy ride at disney world and steering wheel doesn't do anything because you're riding on tracks. this will not do much to fix the american economy anymore than president obama's stimulus plan, promised you would take the unemployment rate down to 5.6%. we're now sitting at about
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2 1/2% higher than that. we need to get this economy moving is to have leadership that will balance the budget, create confidence in the american economy, and begin to create jobs. this fooling around with monetary markets will not make a difference. small business still pays --. melissa: only tool it has at its despose ael wants to get a job. they're out there buying mortgage-backed securities. which means they're trying to keep mortgage rates lower. you know in a lot of ways that doesn't really help the housing market because rates are already very low, if you could qualify for a mortgage i mean you could get one already. it doesn't make it necessarily any easier, right? kind of keeps rates where they are. go ahead. >> theoretically as we refinance the mortgages we have more spending power because interest is lower, therefore we'll spend it. despite all the easing, despite everything else our household incomes in america reached a level that we have not seen since 1995.
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so our spending power as a people has gone down dramatically. meanwhile on the inflation front, while we have not seen anything dramatic yet, i don't know if you notice the producer priest index was up 1.7%. we're beginning to see rumblings of what might be inflation, combined with the american people having the lowest income they have had in 17 years. all that suggests that we really need is a new economic steward to lead this country. melissa: talk about the person sitting home and watching our show at home right now. this doesn't really help them with the housing market because interest rates were already low. keeps that exactly where it was. they probably already refinanced if they could qualify any way. doesn't make that a whole lot better. does it help anyone get a job? does it improve the employment picture at all, what the fed did today? >> in my judgment, no. economists on the margin might take a one/10 off the employment rate a year from
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now. that is not the fundamental change we need. we need a president that will balance the budget, get confidence back in the american economy. get rid of incredible regulations come in under the obama administration that make it harder to grow businesses and allow the entrepreneural economy to flourish once again. melissa: why would balancing the budget help get people back to work? those are two dots politicians have a hard time connecting to the average person. can you connect them? >> i will do my best. the fact of the matter is, people worry about america when you don't have confidence your currency will hold up of the as your previous guest just suggestinged american dollar is down 1% in the last year. so you invest in a business in america you've got to fight that deflation in the currency and investment better do well to succeed. therefore there are better places in the world to invest. secondly how do we pay for all the trillion dollar deficits? we're borrowing money from
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china. we worry about rivalry from china. forget about rivalry. they will own us. melissa: appreciate your time. good insight there. >> thank you very much. melissa: millions of americans are different differenting their bank accounts for good. i was surprised by this. it could change the bottom lines of businesses an consumers everywhere. we'll have details. really interesting. chicago's school district scrambles to fill a budget hole, bigger than any leaning tower out there. as teacher strikes continues. the latest solution. i will give you a hint on it. it starts with a tax and ends with a hike. do you have ever have too much money? ♪ .
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♪ . melissa: i found it hard to believe but 10 million u.s. households don't have any type of bank account at all. a new survey released by fdic, more and more people are turning to prepaid cards, payday loans and even pawn shops. doing that actually put as cost burden on the economy and you and me as we. with me, jason alderman, director for visa global education. i was really surprised by this number because seems like without a bank account it would be hard to do very basic things like pay your rent. >> in fact --. melissa: go ahead. >> it is very hard and very expensive. people have devised these very elaborate and expensive work around things we take for granted we can do with a regular banking account. melissa: why do 10 million households don't have a bank account? what is the impediment? >> these economic gypsies, a variety of things. for many people it is intimidating going through a bank and marble building
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with people behind bullet-proof glass and guards and hushed tones it can be very intimidating for people going into a bank. people are very skeptical about banks. there has been steady stream of bad news about banks. they are not sure they can trust banks. melissa: they are not legal citizens, is that part of it? >> even if they are if you entered country illegally at one point or don't speak english banks can be a scary place. melissa: what is the cost to the rest of us that do have bank accounts? what is the cost to the rest of us? >> this is drag on the overall economy. think about people. there is 8% of the american population is unbanked. they have not affiliations with a bank. another 20% of the american population has a limited affiliation with a bank. they're still using payday lenders and check cashers. that is 28% of the american population at that is underbanked they can't get
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loans to buy a house, buy a new car, start a new business. there are lots of things they could do to contribute to the con economy but they aren't. melissa: it is drag on me because they are not fueling the economy? that is it? that is not strong argument? i don't know why that is necessarily a drag on me. i feel they should get bank accounts. i understand why it is more expensive to them but i don't know what the burden is on me then? >> these people could be producing more for the entire economy but simply aren't. these are auto jobs not being had. these are keeping real estate prices lower. small businesses that could be creating jobs that aren't creating jobs. these are folks who really are on the margins of society. when they are it doesn't do any of us any favors. melissa: certainly there is a lot of abusive practices targeted at them. when you talk about these payday lenders who charge usury rates to simply cash someone's paycheck if getting that, so what do you do about this problem? how do you turn it around? >> well it's a big problem.
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bretton woods study from 2011 show people paying on average, $720 a year for alternative services. that is lot of money for the people on the lower end of the economic spectrum. a lot of ways to get people on. i'm in philadelphia. it has a terrific bank on philadelphia programs. it creates low cost low fee bank accounts get people into a simple product and demystify the entire banking system. melissa: jason, thanks for coming on. i was so surprisedded by this study. thanks for breaking it down. >> thanks for having me. melissa: a nasty tax hike could be on the way for windy city taxpayers. talks on the teachers strike is reportedly making progress. we'll crunch the numbers on this one coming up next. plus, who knew farmers could be so rich. typical household net worth is, wait for it, eight times the average americans. congress is considering giving them a mountain of
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new subsidies. "piles of money" coming up. ♪ [ mujahid ] there was a little bit of trepidation, not quite knowing what the next phase was going to be, you know, because you been, you know, this is what you had been doing. you know, working, working, working, working, working, working. and now you're talking about, well you know, i won't be, and i get the chance to spend more time with my wife and my kids. it's my world. that's my world. ♪
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♪ . melissa: so teachers are still on strike but property taxes in the windy city could go up one 1/2% to fund a $5.3 billion budget for this school year. can you believe that? but even that won't plug the $665 million hole they're in. they need, the tax hike plus, they have also got to drain their resofs to catch up to their deficit. actually that won't even do it either. here to help me crunch the numbers, john tillman illinois policy institute ceo. this is the most frustrating story, this one really, really bugs me because you have a lot of parents in chicago dealing with kids out of school. these guys are talking about
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a 1.5% increase in property taxes which is idiotic. you're looking at a housing market that is crumbling and that would net $12 million, right? >> it does nothing when you're facing a deficit of $665 million. on top of that the rumor with the settlement they will take on another $320 million in compensation costs over next several years. they're just adding to the problem. remember interesting thing in january 2011, the legislature passed and governor signed $7 billion income tax hike. which is roughly speaking $1500 household. they are looking to go back to the chicago taxpayers again because they can't put in spending reforms that need to be done. melissa: they talk about draining reserves. our fox brain room who can crunch any number they have only $289 in reserves anyway. that can't do it. if they do the tax hike and drain everything in the bank account, if you're parent and adult, i'm going to spend this money, give these
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teachers a raise to do that and i'm going to wipe out my entire savings, that would be, people would look at you like you're insane. that is what they're talking about doing. that won't even do it, right? >> that's exactly right. not only that, they're draining their reserves without reforming spending side. when you go into fiscal 2014 you won't have any reserves yet. in addition to that they have also taken a pension holiday by reducing pension payments for a couple of years. that kicks back in 2014 which adds another 400 plus, $480 million more. they will approach a one billion dollar deficit in 2014. they are continuing to kick the can down the road which will make the problem worse in those out years. melissa: i want to know where all the money is going? we were crunching the numbers here. the city spends $13,000 per student. there are about 20 plus kids in each classroom. each classroom is coming up to 260,000. the teachers make 75,000, which is way above the city average for any other type of job.
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even with the teachers making that exorbitant amount of $75,000, where does the rest of the money go? that still leaves what, $185,000 per classroom? you know, only 60% of the kids are graduating. do you know where they're spending all that money? >> it is one of the great mysteries we've been trying to find where all the money goes. when you think about 30,000 goes to pay for the pensions and essentially a teacher that retires after 30 years, with a pension has the give lent over million dollars in cash value when they retire. $0,000 to pensions and benefits. the rest is a mystery. you have a lot of high paid administrators. average administrate makes $125,000 in salary. central management services, central headquarters of the chicago public school system. play a mind game with yourself and viewers. if were in charge classroom of 20 kids, pay the teacher in $100,000 in cash we want to hire a super star teacher to pay them great we still
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have 160,000 dal to pay rent. 15,000, modest money for heat and computers. where does the money go, to the bureaucracy that is very efficient. melissa: they have an average graduation rate of 60% of the their students. chicago charter schools have a graduation rate of 76%. that is why four in 10 public school teachers, according to fordham, send their kids to charter schools. four in 10 public school teachers send their kids to charter schools? apparently they think the charter schools are better. >> right. they send them to charter schools or private schools. four out of 10 of these teachers who are failing four out of 10 times in the chicago public schools, kids don't graduate are protecting their own kids from the very system they work in. think of irony of that. one other thing you should know about the salary. that is the highest income of any teacher, average salary pay of any major school system in the country. we actually calculate them in terms of days per year
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work and minutes per day in the classroom they should be taking about 13% pay cut to bring them back to the norm of the other top 10 school systems nationwide. melissa: it is outrageous, given all the stats we just said, that any of these teachers would be out on strike. absolutely shameful. thank you for coming on the program tonight. god, makes me so mad. a typical farmhouse hold is worth almost eight times the average american's. congress may make that giant gap even wider. details on a huge potential payout coming up next. at the end of the day, it is all about money. ♪ .
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♪ . melissa: so how would you feel about giving almost $4,000 to someone who is worth almost eight times as much as you are? you might be doing that already. the farm bill was originally meant to be a safety net for struggling farmers and keep farm prices from skyrocketing for consumers. that makes sense. it has turned into an incredibly expensive couch. the average farmer rakes in more than half a million dollars a year. the program could end up
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taking more than $20 billion out of taxpayer pockets. who is the bill really helping? we have vince smith, scholar at american enterprise institute. thanks for coming. i was shocked to a lot of facts you talked about. 80% of farm subsidies go to 15% of farmers that are wealthier than the average american. >> it happens because of the design of the program. the story from the farm lobby these programs are needed to help poor and struggling farmers and save the family farm. the truth of the matter, most farms are family farm. but the farms that get 80% of the government's funding are these larger farms, around about 15 to 18% of the total farm population. and they get the money because the programs are basically tying payments to how much acreage you have and how many, how much
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acreage you plant a year from crops. melissa: do you get more money the bigger your farm? >> the bigger you are, the better off you become. melissa: hmmm. >> there are some payment limits written into some of the legislation but not crop insurance. melissa: yeah. >> there, --. melissa: let's get to that. hang on one second. because fact two the average crop insurance policy is subsidized $3591 by the taxpayer. how did that happen? >> well it's, it's the design of the crop insurance program. the program has a 60% subsidy on what is called the actuarily fair premium and subsidizes all of the delivery costs. $6 billion a year goes into subsidy to the farmer for premium payments and $3 billion goes to the crop insurance companies that deliver the program. it's a really a wonderful, i'm afraid boondoggle for the crop insurance companies and a boondoggle for the
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farmer. while the average is 4,000, a recent gao report that used the data from the risk management agency that manage this is program showed there are a fair few farmers who get over a million bucks out of this program every year in premium subsidies. melissa: before we run out of time, fact number three, americans pay $147 million a year to brazilian cotton producers so we continue to subsidize american cotton producers. explain that one to me. >> well, the american, the cotton program in the mid 2000s, about 2007, 8, violated our agreements in the wto. we lost a world trade organization dispute and part of that settlement was that we would kick about $147 million a year to an institute that would help brazilian cotton farmers become more competent raising cotton. american taxpayers are doing a wonderful job for the brazilian cotton, courtesy
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of a program that the cotton guys, the cotton lobby really likes and really wanted to keep around. they're still pushing for very large subsidy program. melissa: very enlightening. vince smith, thank you so much for coming on. >> you're so welcome. thank you, melissa. melissa: okay. so, i'm doing this while i still can. today the new york city board of health officially banned the sale of large sized sodas. wait. i need a little more. we'll tell you how much time you have left and the fines that businesses will face if they don't comply. can you believe that? only in new york. you can never have too of money or sugary soda. ♪ .
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with. melissa: time for a little fun with spare change. today we have cara and joey. >> we need a little bit more so that. >> be careful, there you go. melissa: there you go, mayor bloomberg. first up, don't you hate it when you order a dishwasher and this
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is what you get. take a look at the picture. we are going to show here. no, no, that's not what you get with a dishwasher. now, get really close to your screen. it is a live snake. now they want women to pay the cost and difference for a new machine. >> it is unbelievable. this is a great example. this is ridiculous. not only does it happen, but they have been on the phone for three hours on hold. this whole debacle. >> this is ridiculous. >> have you imagine this
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happening? >> you heard the machine rattling. how do you like that one. there is something called negligent infliction of emotional distress. think about this machine and the snake being attached to it. is there any chance that she put the snake in there? page even say that. melissa: it applies to any container that is larger than 16 ounces. which is why we bought our containers now.
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>> is ridiculous. people can always find a way around that. you buy two or three or something else. 38,000 public comments saying no and they pass it as is. do you know why? mayor appoints everyone on the board. >> of course. melissa: what you think? i was team bloomberg. this is ridiculous. i just think it's too much of an overreach and also it doesn't solve the real issue. if you go into certain parts of this, you can't have access to really good healthy food. solve that problem. melissa: i'm going to have a campaign called sackett, mayor bloomberg. what is the common $200 per soda per day?
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that would be a huge hit on giant square base. >> i wonder if i will get in trouble for saying that on the show. melissa: we will worry about that later. mcdonald's is going to start posting calorie counts on menus all across the country. starting next week, the health care law requires that national restaurant chains post calories. there is no word on when it will go into effect. mcdonald's is ahead of the game. do you think this is a good move for mcdonald's? >> i like this move. i really do. i think that mcdonald's is getting healthier anyway. you go to mcdonald's come you get this salad stuff, and kids are buying this and we want our children to make healthy choices. kudos on mcdonald's.
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>> we are on board. we are on the same page on this. i agree. i want to know. you don't get guns like that. no. >> check it out, ladies and gentlemen. >> in all honesty, they are giving people a choice. people can choose to have that 10,000-calorie meal anyway. melissa: like me with my giant soda. we've had this in new york for a long time. something you like more actually has the most calories isn't really the doughnut he went in for. it is the bran muffin that is a good anyway. >> i have to ask you, where is my big mcdonald's sandwich and
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fries? melissa: i know, i know. in the netherlands, the trashcan charges you based on the amount of trash that you dispose of. so you have to pay throw stuff away. they're asking for people to throw stuff on the street. this is a terrible thing. >>eeople to puputt stuff in the free trashcan tear. >> we have to pay you to take out the trash now. that's going to happen. melissa: yeah, that's a great idea. i can't believe they are actually doing this. only in the netherlands. how much do they charge? >> whatever it is, it's too much. melissa: swipe your credit card. >> we are going to enjoy our sodas. melissa: thank you so much. that is all the "money" that we have today. tomorrow, be sure to watch our one-hour special about oil and how we are in dire straits.

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