tv Bulls and Bears FOX Business February 9, 2014 8:00am-8:31am EST
8:00 am
normally. >> go to fox and friends.com and watch that. we will see you back tomorrow. >> we'll be back. >> see you tomorrow! a 2.5 million hit to the full-time work force. that's what the independent congressional budget office is predicting. but democrats are saying the law is unlocking something good. >> peoplwould no longer be job locked on their policies but have the freedom to follow their passion. >> it allows americans to choose to spend more time with their family or pursue their dreams. >> it isn't employers cutting jobs, newly empowered workers choosing to go a different path. >> there are less participation for whatever reason but not less jobs. >> what about the 3.6 million
8:01 am
americans we just discovered are out of work right now? wouldn't they love to be job locked? hi, everyone, i'm brenda buckner. this is the bulls and bears, gary b. smith, tracy burns, john layfield. welcome, everybody. gary b., democrats say this is good news. what say you? >> well, the spin on this, brenda, is just fantastic. i want to hit on two things we just saw in the clip. the one senator or congressman, i can't remember which, okay. some people have more time to spend more time with tear kids. that's all well and good, but when the government is involved, brenda, you can't create something from nothing. in order for those people to spend more time with their kids, thos premiums have to be subsidized. who are they subsidized by? by people still working and paying out there, normally in the form of higher taxes. so if i'm one of those people,
8:02 am
what happens to me? i have to pay more taxes. thaen then what happens? i ha to work harder. some people benefit, a lot of other people are penalized. normally, the people are penalized more than the benefit. the one senator made the labor force participation comment. basically, he said it's going to drop. is that the direction we want to go? le me give you an example. france has 36%, their gdp growth has been flat about ten years at .1%. if we want to end up like france where you have more people unemployed and the gdp isn't growing, this is a fine way to go. >> jim, what do you think about how this is going to hit the economy? >> it is good for workers. it's good for workers and families and the economy. i want to dismiss what the politicians are saying and focus on what the director of what the congressional budget office is
8:03 am
saying, the people that wrote the report. thes a change in the labor supply, not a change in the number of jobs available in the economy and douglas elmadoor says very clearly, this is going to decrease unemployment and lead to higher wages. yes, it's not a good thing to be stuck in the job just for health insurance coverage. what about all those entrepreneurs who want to start their own businesses or finds a better job? this could not be better news. >> john, take that one on. >> look, this is political spin. this is very good. when you have a pig, put lipstick on it. it still doesn't make it a beauty yooen queen. look, if your best answer is this easing job lock, creating jobs or to open up jobs, it's the same as when they had the idea, let people with cash on the balance sheet to hire people they don't need.
8:04 am
we don't have any job growth in this country. it wasn't great, we lost 1 million jobs since they took office what we need is job lock, do you think bill gates when he quit har hard he was worried about job lock? this happens to very few individuals as far as percentage wise him they had job loss, it's a small percentage. >> is it all negative for the economy? >> the in the ceo report, they say there is subsntial uncertainty. this is a new way of being like if you are 63 and you normally couldn't afford health insurance without working at a company that provides it, would you quit the job preemptively? maybe. we don't know. i don't like to think we will run out of work because they get
8:05 am
subsidized health care. i don't think you should have to have a job, i think you should have a job to not be in poverty and get a paycheck. if you got conditions and y can't create health insurance, you shouldn't have to get a job to settle a problem. >> isn't this a disincentive to work? >> i think it's the wrong way. you don't want to change the labor force because of health care, you want to change it because of innovation and entrepreneurialship. it's not offered because they're part-time consultants now. nobodyps to take on these people, they are still uncertain how it will affect their bottom line. that's less jobs in the economy. i think we are backing into in all the wrong way. in effect, the democrats are trying to spin it's good to work less is so beyond what our forefathers wanted for this country. >> who do you think? >> let's simplify this.
8:06 am
it's like a reverse musical chairs. will you have the same number of chairs, the same number of jobs, but there are going to be fewer people trying to squeeze into those jobs, so, yes, all of those people the lo-term unemployed, brenda, that you mentioned earlier, ey will have a betterpportunity to find those job option. it's a win-win. >> it doesn't make sense. >> gary b. what do you think of the musical chairs analogy? >> i will come out with another analogy. it's very simple. the ceo quoted sid we are going to lose people out of the work force. that's a given. why are we doing that? more and more people are on the government dollar. i come back to my european example. this is socialismr getting close to socialism, go crazy. let the government provide everything. let the government provide all these unemployment benefits that go from here to eternity. let the government provide health care. what you have is more and more or fewer and fewer people are providing for more and more over
8:07 am
there that aren't doing anything. so these people get to see their kids more while everyone else, a smaller and smaller group of people have to work more and more, it's idiotic. that's why you have gdp in france going flat line. gdp in spain going negative. this is the road to ruin if we want to continue to be a great country. >> let's get your take on ths. th does create more diplomacy on the government. >> that costs more. >> people have to support you if you don't work, you lower your incomes to get subsidized health insurance. is that how people will behave? if it is, then we should move medicare out to 70 because all those people from 65 to 70 are retiring because they can afford medicare. that subsidize turns five, so therefore let them work until they're 70 so they can get health care through their employer. that's a good system taken further than focusing on this little piece. i'm not sure people behave that
8:08 am
way to this extent the ceo says, maybe they do. yeah. let's retire to 70 and have to work and stay in our jobs. >> john, what do you think of that? >> i think in teary, this job lock argue workts. in theory, obamacare works, if you have every young american in america that wants to buy health care that they think they don't need and don't work, they sit around and sing kumbaya. theories don't work. look at all the taxes. what gary is talking about. remember president hollande in france, he will soak the rich. everybody will be happy. he has an approval rating of 20% right now because of his failed policy the lowest of any post-war preside in france. we are seeing we are paying for this through taxes. look at the tax increases through obmacare. they said it's being paid for by young people? it's not. >> that hurts the economy. >> thatill be the last word. thanks, guys.
8:09 am
you think there is any difference between these pigs at the trou and lawmakers stuffing a farm bill with pork? well, think again. cavuto and his gang saying it's time for all these little piggies to go home. that's at the bottom of the hour. up here, first, forget the up here, first, forget the terror threat [ male announcer ] did you know that if you wear a partial, you're almost twice as likely to lose your supporting teeth? try poligrip for partials. poligrip helps minimize stress which may damage supporting teeth by stabilizing your partial. care for your partial. help protect your natural teeth. so ally bank has a that wothat's correct.a rate. cause i'm really nervous about getting trapped. why's that?
8:10 am
uh, mark? go get help! i have my reasons. look, you don't have to feel trapped with our raise your rate cd. if our rate on this cd goes up, yours can too. oh that sounds nice. don't feel trapped with the ally raise your rate cd. ally bank. your money needs an ally. i ke prilosec otc each morni for my frzero heartburn.n. becat wohoo! [ male announcer ] prilosec otc is the number one doctor recommended freqnt heartburn medicine for 8 straigight years. one pill each morning. 24 hours. zero heartburn.
8:11 am
8:12 am
8:13 am
threats at the olympics. should we be more worried to an attack that happened here to our power grid, smack in the dab of silicon valley. transformers picked out 17 of them. the fuse just surfacing now. officials calling it economic terrorism and, john, you say this is a real threat to our way of life? >> i this i the biggest threat to america right now, besides for some ice laid terror incidents is cyber terrorism. look. we are the only super por along with our allies to control all four oceans. because of our geographical invasion, however, you look at something like the stuck virus that infiltrated the nuclear facility in iran. it was closely guarded to melt that nuclear facility. that same thing could happen very easily here. wha one of the hackers in the target probe was supposedly a 17-year-old in st. petersburg,
8:14 am
russia. we are very vulnerable as far as our entire electric grid and cyber terrorism. >> jim, what do you think? >> i agree with john our power grid is extremely vulnerable. engineers give our grid a d-plus. it has grown ten-fold in the past 50 years. it's barely been modernized. a bunch of patchworks fixes here and there. this is why we need big, big infrastructure spending. something that obama has been calling from. this is an area where we should have agreement from liberals and conservatives. infrastructure investments are exactly what is needed to protect us from these types of attacks and to get our grid into the 21st century. >> gary, is that what this is really allabt? are we doing enough to protect the grid? >> no, i don't think we are doing that at all. i happen to agree with you in
8:15 am
this case. although, i don't think obama has said specifically infrastructure spendingo re-establish or re-ignite the power grid. he is talking act these shovel-ready projects that have never been shovel-ready. the big point is hurricane sandy alone cost $52 billion, the power outage to the gdp. that's $52 billion. so if you wanted to stage an attack on the u.s. forget about 9-11 as horrific that was, attack our power grid. imagine without electricity, irconditioning for weeks on end likeke the poor people that wen through sandy did. it would be horrible. spread that across the u.s., it would be devastating to our economy. >> the man who once headed the federal regulatory commission said this attack was quot the most significant incident of domestic terrorism involving the grid that has ever occurred
8:16 am
tracy. >> you know what the worst part was? we don't have the parts area. . it call comes from china. we should be even more worried. we bought the to go overseas to get it. we're just inviaduct cyber attacks to our company at this point. it's that antiquated. we have got to revamp this thing. especially now, too, up are adding electric vehicles to the grid. we will blow the thing out, ourselves. >> they will lead us down this path with the government is either going to regulate security at power plants or they will take it over like they did the airles. private property doesn't need protection from the government. these companies lost millions of dollars in the attack. all the power companies are going to start putting walls around these power plants. it will raise prices for consumers. it doesn't require the government to come in with arbitrary rules and security measures because it won't work very well and more importantly, it's a free market solution.
8:17 am
they're not protecting our lives from foreign invaders. domestic terrorism on private property can be handled by the people that handle that property in most cases. >> when you worry about china getting involved in our transformers, bringing them into our country, you don't know what stuff they are bringing us, better yet, maybe they don't even bring them to us. maybe they tell us, you have to wait your turn on that? that's where the problem comes in with us. >> gary, you are not for regulation at all, but isn't there sometime when terrorism is a threat that the government does need to get involved? >> in this case, i do. i kind of think as the government as the landlord of the united states, if you will. at some point, a bigger authority. especially with utilities where there is so much cross company mixing and one suck out to another. it would be tougher like a petco just to prevent attacks to the petco area without impacting
8:18 am
constellation energy and a all e others. that's the only time i'm for governments stepping in. it's military defense. >> okay. thanks, guys. >> so rewarding kids for straight as at a pizza party. now some pents cing party foul. saying everyone should be included everyone if they didn't make the grade. are they right or wrong? mine was earned in korea in 1953. afghanistan, in 2009. orbiting the moon in 1971. [ male annocer ] once it's earned, usaa auto insurance is often handed down from generation to generation. because it offers a superior level of protecon. and because usaa'commitment to serve current and former military members andheir families is without equal.
8:19 am
begin your legacy. get an auto insurance quote. usaa. we know what it means to serve. there's nothing like being your own boss! and my customers are really liking your flat rate shipping. fedex one rate. really makes my life easier. maybe a promotion is in order. good news. i got a new title. and a raise? management couldn't make that happen. [ male announcer ] introducing fedex one rate. simple, flat rate shipping with the reliability of fedex.
8:22 am
. >> a true a-list party. instead of popping bottle os of champagne, one school is opening pizza boxes for straight a students. if you didn't make the grade, no pizza for you. tracy a straight-a student. she get some pizza. is this not fair or a great lesson for kids? >> look, life is not fair. these kids deserve pizza, man. they stayed in. they studied. they got as. i don't understand why we have to give everyone everything all the time. why everyone needs a medal. people win, people lose, is what these kids need to learn. i believe they need more. it's hard to get them. >> he is the smart guy. so it's okay for him to eat. you think this is a great idea? >> it's instant gratification, my stock was up. therefore, i get pizza, nobody else gets pizza.
8:23 am
that's fair. >> you have as to wait to the end of the year, that's too long, instant gratification, we can't wait until we get jobs later, this is how we do it. >> gary b., what do you think? >> you know, you think i'd be for this. i don't like it at all. maybe no one ese on this panel actually went to middle school and got good grades, but i did. i can tell you, there is a couple things, one the last thing i want to do is go to a party with the other nerds in the school. all right. the other thing is, it's like a party for the 1%ers. i'll be there with the other nerdy guys and everybody that got as, the school bully who got fs waiting to beat me up because he didn't get any pizza. there are other ways to reward people. this isn't a good idea. >> john, you have a rtain twist on thi i have to tell you
8:24 am
the b an c students were invited in, after the pizza was gone. now, what do you think we should do with the party, john? >> they will probably end up working for those b and c students. look. the problem with america righth now is everybody gets a trophy no matter what. unless the kid has a learning disability. if that's the case, put a different measure in there, reward them as such. reward the a students. not only that, let the b and c and students feed him and clean up afterwards. >> oh. well, jim, you are the teachtary gave me a c. i'm eating pays 'izzo. what do you think? >> i can'telieve they're only getting pizza. they should get good grades, within i was in middle school, we got a trip to six flacks, but this is not a real life lesson, we now have an economy where no matter how hard you work and how much productivity is up, you are not getting rewarded. wages have stag fated. the ceos are keeping all to
8:25 am
themselv themselves. >> thank you for joining us. well, hope those athletes in sochi aren't thirsty? that was the water, folks. it could mean gold and profits for you. [ laughter ] smoke? nah, i'm good. [ male announcer ] celebrate every win with nicoderm cq, the unique patch with time release smartcontrol technology that helps prevent the urge to smoke all day long. help prevent your cravings with nicoderm cq. that helps prevent the urge to smoke all day long. some brokerage firms are but way too many aren't. why? because selling thfunds makes them more mone which makes you wonder. isn't at a conflict? search "proprietary mutual funds". yike! then go to e*trade. we've got over 8,000 mutual funds
8:26 am
and not one of them has our name on it. we're in the business of finding the right investments for u. e*trade. less for us, more for you. the fund's prospectus contains its investment objectives, risks, chargesexpenses and other importt information and should be re and considered carefully befo investing. for a current prospectus visit www.etrade.com/mutualfunds.
8:27 am
i did my job. but as a veteran with a disability, i was worried about my career prospects. after my traumatic brain injury, vocrehab helped me roll up my sleeves and get back to work. - made me realize i could plant a beautiful garden for my community center. - took my professional development to the next level with vocational counseling and education. ♪ - showed me a bright future, even though my
8:28 am
sight was damaged in combat. ♪ - elevated my career, even though a back injury prevented me from doing heavy lifting. - prepared me for my next mission, and helped me realize that success after the service is possible. announcer: if your service-connecte disability prevents you from continuing in your civilian career, vocrehab offers counseling, training with a living allowance, education, and other services to help prepare you for your next mission. >> prediction, gary b., you are up. >> brenda, based on the recent
8:29 am
stock buy back apple believes in apple. i believe in apple. i think it's up 40% by the end of the year. >> jonas what do you think? >> let's get them the phone logs before we start boying the apple. >> watch the web on february 11ing. that's tuesday. there will be an online war against the nsa. a lot of freedom fighters fighting for, trying to protect the freedom act. watch when you go surfing on the web. >> john, what do you say? what's your prediction? >> unless putin wrestles a bear at the olympics, these things are boring. i hate them. go to cabellas, up 20%. i own the stock. >> they have the best fishing gear. >> i love to fish. >> are you a bull or bear on that? >> well, itas a problem at $70. if it closes above 70 i'm with john. >> the media is surprised, they are not all over russia, a former decktatorship. they are lucky they have toilet
8:30 am
seats. that's why the stocks are cheap. the etf is up 10% by the closing ceremony. >> jonas, it's brown water. i'm a bear. >> well, they say that timing is everything. wondering if anything pushing the latest warming rules from the white house bother taking a look outside, any windows at the white house. i'm kneel cavuto. talk about awkward timing. the white house announcing the latest climate change, executive action in the middle of the whiteout, setting up new climate hubs to lp farmers and soon others. it sounds like taxpayers are on the end of another snow job. what do you think? >> first of all, it's $150 billion and
106 Views
IN COLLECTIONS
FOX Business Television Archive Television Archive News Search ServiceUploaded by TV Archive on