tv Cavuto FOX Business February 17, 2014 8:00pm-9:01pm EST
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lebrate charles: taxpayers 70 celebrate. welcome, everybody. i'm charles n. fort neil cavuto. five years ago and then the president signed an $800 billion stimulus bill into law. rummer when he said this about it. >> today does mark the beginning of the end. the beginning of what we need to do to create jobs. the beginning of the first steps to set our economy on of firmer foundation. charles: that foundation still
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isn't looking so firm. according to the bureau of labor statistics 10 million people are unemployed, but even worse, an additional 91 million are out of work and not even looking. sabrina shaver and steve island says it was not worth the money. sabrina. >> this is -- the president took a page from the wpa and fdr years and years ago. we have not done anything new except the president is trying to defend the creation of government created jobs rather than saying we don't know what would have happened in the government stayed out of the business of job creation and allowed the economy to move forward and the private sector to create jobs in a more efficient manner. charles: you can are you coming from the private side we do know when government gets as large as this government is it does crowd out the private sector mitigating what they can do for the economy. >> if you look at the situation five years ago there was
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bipartisan panic over the state of the jobs. there want to rush as much money into the economy as possible with a shovel-ready investments. that was the term. well, here we are today. if we have the same labor participation rate today, 66 percent that we had back then the equivalent unemployment rate today would be 11%. we have not moved the kneele. i think that there are two lessons learned. an investment has to have returned. with the return all you're doing is simply putting transfer payments out there for getting into crony capitalism. the second thing is that in order to have lasting return you can do these temporary programs. yet the business's long-term tax policy reform, long-term entitlement reform. businesses need to be able to plan over multi years. temporary programs don't work. charles: sabrina. >> the big problem is that these are temporary and sustainable jobs and it is an inefficient
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use of taxpayer dollars. we have the president and the white house picking winners and losers in determining how best to create jobs. if your in 2009 when the bill went through, if you are a dream home energy honor your winner. if your regular homeowner your loser. if you were a small farmer you were loser. this is just like selling your spaghetti of the law and seeing what sticks. charles: along that line not only has the administration picked winners, but they have picked losers as well. we want solar wind to succeed. therefore we want call not to succeed. >> i think it has. this is supposed to be a green energy belt. is supposed to be an infrastructure bill, only 6 percent of the stimulus spending was spent on infrastructure which would have been a great investment. you have a long term, decades-long return and a very small percentage, maybe a couple
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percent was spent on charlie greene energy. much of it just went to subsidize state and local government workers jobs. all of this was temporary. we need to get back to a long-term government policy that businesses can plan on. charles: right now you have people on the left saying, hey, we just did not throw enough money at this. we were on the cusp. it almost worked. if we could have maybe made it one and a half, 2 trillion, something meaningful it would have worked. >> we certainly don't see eye to eye. bloated government is the economy's worst enemy. the best thing we can do is to streamline government, rain in a progressive state, streamline the tax system and make regulations more predictable so that businesses and individuals can invest appropriately. the last thing we need is to pour more money. the government does not own dollars. is taking it out of the private marketplace and investing where it thinks is best rather than letting individuals and
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businesses determine how these other sources. charles: third and fourth quarter gdp, we saw a big move of government spending. particularly in the fourth quarter. ironically what we saw also with consumer spending up and business spending up, do you think we're getting clear signs that anyone can take a cue. let's get government out of the way. sequester and everyone else. you will is an attraction. >> remember, government does not produce wealth. the private sector does. any dollar you take out of the private sector and run through the government does not have the same multiplier effect that it does if you leave it in the economy. the other thing is businesses simply can't plan today. you have all of these short-term tax expenditures that are coming in, going out. those don't create jobs because businesses need to look over ten to 20 years. they have to then plan for their cost. so when the short term stimuli
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comment they are discounted in the private sector for business investment. charles: government does not create brought wealth. a trillion dollars, quite a few cronies made a lot of money over the last few years. really quick. >> us not forget what is coming down the pike. this cbo has been added to the other 2 million jobs lost. other two and a half million of the next decade. lots of bad news that the president is trying to pivot away from. charles: when it is easier not to work it is hard to lure people off the sidelines. about the fantastic. you know what, the spending just as nonstop. welfare and other federal aid program setting a trillion dollars a year. kato economist dan mitchell who says this type of federal spending is getting pretty dangerous. you know, i think it may be a lot more than just pretty dangers of this point.
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>> in the long run we are on the trajectory to become a european welfare state. if elected what is happening in greece and italy and france and obviously we don't want that to happen if we care aboot not only the economic vitality of the country but the moral fabric, the spirit of self-reliance, the work ethic, independence from the state. these are all things we need to be concerned about. charles: you just used the word moral fabric. others on the other side of the ideological aisle, if you well, was say what is moral is letting people, to a half-million people not work, not have the hassle of working at jobs they don't work, maybe selecting a job they do want to work. what is moral is getting 47 million people on food stamps to help them make ends meet. that is really the moral objective. what would you say to someone like that? >> i suppose it is a fantasy world. let's think about it this way.
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imagine just by stopping -- snapping your fingers we could have riches flow down from heaven. none of us would never have to work. well, if you did not snap your fingers that might be immoral. wouldn't it be wonderful if we sat there strumming our guitars and a nice garden of eden situation? in the real world you cannot redistribute unless somebody first produces something. the problem with the welfare state, as you learn more and more people into dependency, as you trapped them in long-term into generational poverty to make you don't have enough people pulling the wagon guess what, that wagon is going to bog down. what i said earlier in the interview about what has happened in greece and italy, this is my concern. our aging population, the demographics of the country, the growing welfare state, these are things that we are not calling to go belly up within the next five years, but 25 years from now if we don't begin to change course, if we don't begin to decentralize the welfare state,
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if we don't begin to change are unsustainable entitlement program i will be worried about what my three children are going to have because i know this has been a great country for me. charles: a lot of people say we are at that inflection point. you kind of inverted. some said the number is 47%. you know, people paying federal taxes. as that number begins to decrease the dangers on the we talk about becomes even more dangerous. can you pinpoint and number, 40 percent of people paying federal taxes, 30 percent, where the point is of no return? >> i don't know that there is magic tipping point. i really do think it is more about the culture, the social capital of the country. @%ere are lots of older americans, 70 years old living and social security. if they might not be paying any tax. but they are on social security because the government forced them to be in the program. they don't see themselves as part of the dependent class.
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it does not affect their voting behavior. they don't favor big government. on the other hand, you could be a very rich person fee. you're rich because you are crony capitalist benefiting from different government favors and handouts. probably paying a lot of tax, but the reason you're getting a million dollars is because government has, on the scale. so it is not a number in my mind. if they're is a number i'm not smart enough to figure out. it is the attitude. to debut this state aa a racket to enrich themselves rather than pumping -- something in the background. charles: the welfare state becoming the overarching welfare mentality more less is the tipping point. you are fantastic. talk to use san. next, what is the difference between nuclear bombs and global warming? according to the secretary of state, not much. scare tactics gone wild after this. ♪ >> in a sense climate change can now be considered him one
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we should not allow a tiny minority of shoddy scientists and extreme ideologues to compete with scientific fact. charles: well, two and not so shoddy climate experts who thinks that the secretary is way out of line here, obviously looking at your website, you have a large caricature of secretary carry with these exact comments. he ruffled your father's pretty good. >> well, it is fascinating. he has turned this into a foolish argument. you're trying to reach out and coalesce people around the new global u.n. treaty which is what he wants to do you don't do it by name calling, flattered, all these things. he is insulting nobel prize-winning scientist. he is insulting the memory of
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norman borlaug, of global warming skeptic, nobel prizewinner, freeman dyson, some of the most eminent scientists. he is calling them flat-earther. this is an insult. john kerry could not be more wrong on his claims. there is no weird weather going on. we are actually in 50 to 100 year trend is not having any of the events he is claiming. this is all about restoring his legacy. the new york times reported about two months ago that his legacy, he -- it has eluded him, and he has decided to make global warming his legacy. he is putting all his eggs in this tree in paris. charles: and let's face it. this is part of his legacy. it is certainly a large part of president obama's legacy. he has made more flat earth comments and flat earth society kind of things. what do you think ultimately is motivating the administration with these comments? this is just a farce or a smokescreen for john money grab?
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>> it is. every ecoterrorists care that we have been faced with since the 1960's, overpopulation, the global cooling scared, save the amazon, they all have one thing in common. the solution is always global warming. central planning, more government control, more international bureaucrats controlling more aspects of our lives. in a way this is what the political left always looks for, some kind of the coast here. john kerry has been plugged into just about every single one of those buried so john kerry looks at this as an opportunity to expand their goals. obama, because he is in a tent right now in congress and the white house is going to executive orders. he will be doing all this behind the scenes below the radar achieving what congress refused to do through regulations. so john kerry is poised to have to face huge world stage in the next year year as they are going
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to end up probably signing a son to a kyoto to treat. it will have no impact on temperatures. this is pure symbolism when it comes to actual climate science even if you believe their science. charles: in that have to tell you on the whole science note, a little bit of an aside, this survey, 25 percent of the people thought that the universe revolves around the sun, that used to be universal thinking. for 2,000 years of the scientists agreed that the sun and planets revolving around the earth. you know, this idea that this is firm -- everyone agrees. you have already been bugged that, but how do you get the message out that not everyone agrees, and even if they did it could still change? >> i was in the united states senate environ of public works committee as a researcher, and we published a book, over 1,000 dissenting scientists. many of them former united nations scientists returned against the organization. concede that list. it is an amazing list.
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many of them were formerly really deeply an alarmist. people like james love lost. there will only be a few. now he says it is a religion. we had it wrong. and we don't have the physics worked out. scientists like judith carry have completely reversed themselves. it is amazing to watch. then he comes in with these outlandish statements. charles: let's just hope that we all learn the truth before the money grabbers. i have a feeling that our wallets will be a lot emptier. >> thank you. charles: get ready to pay up to educate criminals or locked up. the latest entitlement that has people everywhere fed up. ♪ [ tires screech ]
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asknowost of edution charles: as you know the cost of education has never been higher, but thousands of people could get a free ride. all they have to do is commit a crime or wind up in prison because new york governor andrew cuomo wants taxpayers to fund a new program that will allow inmates to take college glasses. the judge. >> the idea. a total waste of taxpayer money. where are you coming from on this? >> first of all, there are trying to be reactive to a problem they should be trying to prevent. new york city alone has 54%. only 54 percent of its children graduating high-school which is the bigger issue. shouldn't we be trying to fix the problems that are allowing the poorest and the most disadvantaged in our society to end up in prison? now we are treating prison like a boarding school. most of us have to work hard, join the military, or have a second job to get through college. meanwhile, it will become a joke among teenagers. don't worry. dropout.
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charles: all right. chuck, those are some pretty good points. it is almost disingenuous to talk about college when most of the people you're talking about probably don't even have a high-school diploma. >> i realize i only went to the back woods east texas high-school, but the math seems pretty easy. it cost the taxpayers 60,000 per year. cost of 5,000 if we give them college credit. as people are three times as likely not to return to prison. and they are more likely to get a job and be paying taxes was there rehabilitated and get back get into the workforce. it seems like a wise investment to be $55,000 to the good. charles: purely from economics, 60,000 per year, recidivism rate of 40%. five grand can get these guys in education, get them out there on their feet and you never have to worry about them going back into the system.
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>> first of all, i question 5,000. i still have loans out of my college education. let's make it -- charles: if someone in the head with a brick. >> okay. i will keep that in mind, but i am looking at this from a point of view are rewarding people for failing which is not the way our society should be generating. we have charter schools that the mayor is proposing he is going to charge to use public schools base. these are the most disadvantaged children. we're turning around and lament the most disadvantaged children have it harder to finish an education degree turn around and go on into prison and get their education. those numbers don't add up. trade schools, give incentives to trade industries and trainees there are other solutions. most of those with college degrees realize we have to get a background check. your going to get a background check and tried to walk in with the bashers degree. that is not even as an argument. charles: i think some of these points year ago hand-in-hand with some of the other things that are going on in society.
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higher minimum wage, letting felons vote. it feels like instead of asking people who have made mistakes, the state where you are. we will come to you with goodies and rewards. that does not motivate them to move out of that position of life. >> it does motivate them to be able to get a job. they can have a college degree, if you'll deny them everything because they may have made a mistake what do you do when -- charles: teeseven are going to deny them. didn't they the lot -- deny themselves? if. >> absolutely. you can keep them pushed down, have them get out of prison or then get job and pay taxes like the rest of us. it is the lesser of two evils, but i would like to see them become an incorporated part of society. charles: like you. i was in the military. i went to school while i was in college. none of my friends went. it was freed. it was absolutely free.
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none of my friends went. when i left the door and there were knocking back the brew. in a few hours i will catch up, but it was free. the idea that even if it was available, who would take the bait. i don't know that you would have a lot of takers. >> i had to sacrifice 20 years in the united states marine corps, and that's all i got my degree. to sit there and say let's pay them after the fact, let's fix what is going on in society instead of on the back end. we're putting a band-aid on a chest wound. that is not going to solve your problem. let's prevent so many of our young people going into prison and fix some of the problems we have in our education system. new york state as a serious problem with its education system. on the back and they will put the convicts through dividend is an absurd argument. charles: i think you struck out something. hopefully we will have you on soon again.
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♪ charles: a problem f this charles: well, a problem for this forest. the faa grounding flower delivery express delivery jones. a company trying them out can use them for valentine's day, what the government breaking the companies are saying they are not authorized. the company ceo. i have to tell you, lot of people talking about drones' being the future. it seems like you guys trying to get out ahead of the curve. >> sometimes big things have small beginnings.
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we were really trying to experiment, learn how to best operate the drones and how we could best incorporate them into our business model. charles: exactly what happens? did you do a few test runs and everyone called up the faa or exactly how this whole thing go down? >> i'm not exactly sure how the faa got involved. we did several test runs and crashed a few. we learned some lessons. we were starting to approach a learning curve that might be meaningful. we made a successful delivery, and then we had intended on doing a test on valentine's day to see how the delivery capacity would be. however, we got a phone call from the aviation administration they told us that we needed to cease and desist. charles: us talk about the ones that crashed. listen, you know, a lot of people said they don't want to live in a world where there are a bunch of drones hovering
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overhead. we believe that some point this technology will be approved dramatically, never foolproof, but improved to a large degree. what happens when the crash? >> well, drones meet cement block walls with a great deal of cordiality. charles: to they have video cameras? obviously no one can walk along side by side with them. what was the logistical problem? did anyone not see these recalls ? >> that was just when you're trying to get things started upe navigation system, if you interrupted the process it would not knowhere it was. we had some setbacks. that is the mole poin behind a -- whole point behind a learning process, you learn how to do things, we did not expect for this to go intoide circulation, at this level, but we needed to experiment and learn, and find out what is
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good, what is bad. in order to be able to properly execute a drone commissions program, which hope to do soon. charles: when you hear that someone like an amazon would love a fleet of these, they are investing a lot of money, do you think because they are a giant company maybe they will get favorite status, maybe some of through they willr you are skip past? >> i wouldn't be surprised. i know they are i a better position than we are to investment in technology. and all in connect w technology and also in connections within the government in terms of lobbying. so that is a little disheartening. however, i am confident that given the opportunity we would be able to develop the same sort of techniques and same sort of technologies and really the faa is really, you know, getting a little bit in our way.
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sometimes the answer is not always found by government because government does not always solve the problems. sometimes government makes the problems. charles: i hear you. it's good to hear that you will not give up and get to where you have to be. it seems like yyu guys made some big inroads. thanks a lot. i really appreciate it. >> thank you. charles: be careful when you log in because you could end up getting locked up. the police are using facebook and twitter accounts to nail criminals. ♪ ♪ no two people have the same financial goals. pnc investments rks with you to understand yours and helps plan for your retirement. talk to a pnc investments financial advisor today. ♪
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♪ charles: be careful what you post on facebook. your friends are not the only ones watching. nearly every police department is using social media to the -- to investigate crimes. looking to nail drunk driving suspects the evening using twitter and facebook to investigate violent crimes like rape. police are able to do that.
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they're crossing the line. you really think? if you put it out there for public consumption why shouldn't the police use it? >> there is definitely a standard. if you put everything out there then obviously it will be used against you. the things that are going on is some kind of fraud. attorneys and investigators are getting into people's facebook by thinking that -- or by tricking people. then they're getting the information instead of using regular investigated traditional techniques. charles: it sounds like a pretty good shortcut. i could just go online. the suspect as told me everything i need to know. >> exactly. her point aside, and the recognize that if there is fraud obviously it is improper, but a policeman goes on line and opens of someone's facebook account and they're not privatized and anyway, everything that is there is an admission. they have to prove that they posted it. yes, of course.
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the police have to prove that these people posted these things, but if you're putting things on facebook be prepared that the whole world can find out. the thing is, yes, it may be an admission or it could be used as an admission, but the problem is that judges are now allowing all of this information to just be admissible in court. i'm not saying that everything should be, but judges and prosecutors and defense attorneys should look at this new information and determine whether or not they should use it. charles: what about the idea of self-incrimination, does that play a role? is there anything you could say, hey, i took the photo, but it is private. should not be used against me. >> it augusta relevance. just because you are in a truck driving accident and post a picture of yourself drinking does not mean that it is relevant to the case itself. that's in the four corners of the court room. such is the problem the judges are having, allowing stuff
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weather are not there will allow everything in. charles: is the wave of the future. this is the way it's going to be. >> absolutely. you know what first, there were a missions to other people off. a judge can when chris decide whether or not been a is admissible pin there is relevant to the fee marine. it is just another aspect "and something positive. of figure out where you have been paths which can add up to something that the police can support in an arrest, arraignment, and then a prison sentence for rape this, killers, murders. i mean, really, why not use it? of course it has to remain current. why not use these things? >> this is not just criminal
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cases. the problem is that attorneys are going into people's facebook and twitter profiles and other social media accounts to use that information in child custody cases, divorce. charles: i use san and should be off-limits? >> i think that the people should absolutely be careful. but also, we have a certain expectation of privacy in these accounts. we don't expect that everything that we put out there is going to be used against us. the same time, don't put everything out there says. charles: where is that line drawn? called on one second. i just want to ask, will there be at some point, you think of my ruling that will really give us the parameters of this whole thing? >> it is a case by case basis. for example, if an investigator uses fraud to go into someone's facebook account that obviously may be a separate ruling that if someone just post something on twitter for the world to see. and so it is really, i think
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what the judges need to do is look in these case in this new social media world. charles: if someone posts something on facebook and says, i just thought only my friends and relatives or have access to this and i did not want the world to see it, you would not have a leg to stand on. >> it depends on who was looking . the police or law enforcement out of balance subpoena signed by a judge and support with probable cause they get open that into evidence, and that information, sure. we are talking about a wide range. if there is fraud used to get into someone's account and obviously a judge should not support that material being introduced into evidence. if they're is a subpoena and it has been allowed. charles: let's leave it there. the moral of the story is don't put anything on facebook beckham gets you in prison. or divorced. ladies, thank you very much. a great post valentine's day topic. after d-day a new study saying
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that one in three american couples cheat. but not in the way you might think. find out how and more importantly how to find out after this. ♪ ♪ [ me announcer ] how could switchgrass in argentina, change engineerg in dubai, aluminum produion in south africa, and the aerospace industry in the u.? at t. rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. with investment information, risks, fees and expenses iwe don't back down. we only know one direction: up so wre up early. up late. thinking up game-changing ideas, like this: dozens of tax free zones across new york state. move he. expand here.
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♪ charles: well, forget about breaking your heart. this new batch of cheaters will break the bank. a record number of american couples are committing financial infidelity, hiding things like credit cards, extravagant purchases, even bank accounts from espouses. psychologist and family attorney weigh in on this disturbing new trend. is it really knew? is it becoming more prevalent? >> i think that because these days most people have two
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incomes and people go into a marriage with a level of financial independence, they want to maintain an independent spirit a lot of times people will continue to buy what they want. they live their spouses to avoid a fight. charles: it sounds like you think it is a good idea. >> i think we all to little white lies. sometimes so honesty is not always the best policy, but it did something that is going to reflect the financial stability it should be discussed. >> the dual income families. maybe it's easier to hide money. charles: number one for a while. >> a very long time. charles: why would someone do it? is it a reflection of a lack of trust and a spouse? where does this come from?
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>> people want to buy or steal something. very often where people earn money they're is a feeling that it is mine. i may not have to share it with you. ironed it. charles: all new said. >> some would argue ittmakes sense to a certain degree to the point that you guys made. charles: had been earning money. you feel like the erin this place in society. why put it all at risk just because you said i do. >> the problem as it ends up having the same impact as cheating with another partner. >> in a sense it is cheating. you're lying to your spouse once the trust is gone the relationship tends to go down the tubes. charles: you agree with that? >> absolutely. absolutely the reality is people
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like that it is if you're not us to me about money, though we made this commitment and said this value. they -- charles: if someone had a little sign, maybe they second often%, that would be the equivalent of an affair? >> it is not defensive. >> why can't i be honest with my partner. what you going to do with that money? charles: during the dating process, elusive uc. i am an adult. we are smart. let me saw something away. >> if that is a discussion you have in both parties understand -- [laughter] >> people don't think that they're going to get caught. they stash shopping bags and the truck, forget to take tags of the dress. and you still end up feeling like you have been lying in cannot trust your partner. charles: i don't know.
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i can't come to grips with it being that involved. this is on the same level as -- what are some other kind of cheating? if i saw my wife and a month night when a meeting twinkies of a long is that infidelity? >> it's an emotional affair. carrying on a secret. chaales: were back to jimmy carter. walking down the street below, that's a sexy woman, did i just commit adultery? >> i was going to say, and it's not. sex and money of the two biggest things that people fight about, so we can speculate others, but those are the big ones. charles: by the way, this is one out of three, a problem and one out of three marriages. >> that we know about. charles: our divorce rate probably will be coming down any time soon. it might actually get worse. thanks. you were great sports. all right. pizza is going high-tech. how you can make huge slices of cash by investing in pizza.
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charles: there is big dough in pizza, if you accept orders on-line, how big pizza chains are using technology to deliver big sales, the big three all reports 40% or more of their annual sales now coming from digital orders, to gary and zach, on whether you should invest in this pizza craze. >> yes. how are you? you know, not only do i like the companies because they have great pizza and come technology, i like them, you add them to over 2000 other companies in small cap face they are 3% up per year on average. charles: i'll ignore the fact they don't make new york-still
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pizza, from an investment poin of view, hard to argue with success? >> dominoes and papa john's right now, their stocks are fantastic. yum brands different because they are having problem in china with some brands, but pizza is pizza, they got to something with this technology, whatever you can do in any business to make it easier for member to order something, your business will do better, they are flourishing. charles: there is no doubt about, that and restaurants, gary. feels like every time i look at data, we are eating out more and more, those who can deliver cheap and fast have the upper hand. >> look, you know, i live in orlando, there are more restaurant chains here than you can start all these cool burger places, a chipotle on every corner, as long as you can deliver, what is good food, at
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reasonable price they are grow and grow. charles: disruptive business models are not just for technology. did you order flowers for valentine's day. hundreds of 1-800 flower customers did not get their flowers, they responded with social media with apology letters, is this enough to keep customers coming back, will it ease the investor's worries. >> they will come back, on valentine's day, birthdays, men will buy flowers. charles: but you don't have to buy them from 1-800-flowers. >> you can go elsewhere, there are other on-line. bottom line, when you are a company, and you do not deliver, if it affects one sale, that matters, that feeds on itself. we agree on that, but overall they are pretty much a bepeople
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lght i olg in the space. >> they will do fine. charles: a lot of people say they did not do quick and smart, people called number, that did not work, only on social media they responded. apologizing, giving people a different number, the 1-800 flower stock is off so-so, will this hurt them or be a nonevent long-term? >> saying your sorry in life in business is typically not enough, it is about the experience for the consumer, right now this is not a good one, they need to go above. this is a life lesson not just a business lesson. charles: we're seeing a lot of companies, maybe theme from 2013 to 2014, the right apology, lululemon offended a lot of people, abercrombie & fitch defended a lot of people, the right apolicy is now part of the
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account model. you may have a chief apology soon. >> it has to be product, above and beyond, about the experience for them, and right now it is not good. charles: you hear that music. you know what that means, time for the night cap. gary, tomorrow? >> charles, i think gold, 2 1/2 year bear market is over, you saw it last week, i think it continues in the months hey, i think you can buy goal or silver, and -- gold or silver, i am not sure what it means for the market, i'm focused on that area right now, i think it will be a great few months ahead. charles: gary, does that infer we say see inflation in. >> i think we have inflation already, i think that numbers out of the government are a joke. they change how they rate
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inflation years ago. it is already out there the big key, is interest rah rates, if they back up big time we'll know. charles: zach. >> i don't want investors focused on next 20%, no one knows whether it is up or down, focus on 200%, stay long-term, own equities. direct hook into capitalism, i want to remaining diversified, and rebalancing on highs and lows, remember short-term volatility is that, short-term. charles: every stock we talked about your name had a check next to it, you own is all, most people watching can't own it all, they just got back into the market. if we get a thousand point pullback say, stay, hang the course. >> visitors can own over 13,000 companies in 45 countries, that is what they have with us.
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it will work. >> you better own the right companies and right countries. >> you were the right two right guys for this segment. thank you, audience, thank you for watching, we'll see you tomorrow night. kennedy: it is presidents' day, we never figured out what you are supposed to do to celebrate this winter day off, president celebrates fifth anniversary of stim plus passing -- sfi stim plus passing, they blog about success of a questionable government prop up, and jay carney 7 ou sense out a few tweets. you happy mr. president? we are. this is "the indepen
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