personal finance. have a great night and we will do here tomorrow. ♪ ♪ neil: you would think with numbers like this, the congressional budget office would think otherwise. they have suggested a fallout and they're going full speed ahead.

never nevermind about liking the cbo when it's number two. republicans play this game as well. but you would think when they do not suit you, you go slow. how many times have i had small business sites of all political persuasions in this economy, it doesn't make economic sense. especially with rules and regulations up to a dozen a day now, you woold think even the most diehard spenders. joe biden promoting more government spending on infrastructure but we cannot account for more than $120 billion that we spend each year on infrastructure. the great example, many will tell you that it's still spam.

the ceo's ceo. bob has a lot on his chest. thank you for coming on. >> thank you. it's great to be here. >> like it and you don't want it doesn't. that's one thing. both parties play this, but this is a risk that you get. >> yes, it is. and it's a very emotional issue the implications that we talked about in your opening comments.

it's like if 3-dollar price increase. the onsumer going to take that and i would tell you for my own personal experience and if they have to raise wages $3 per hour and tried to pass that onto a consumer in this economic environment, that could end up losing their business and shutting down the operation

right now will pull jobs with the uncertainty out there. any large operations and small businesses are really holding back. they are not sure to your point about the regulation. neil: so this is not a good environment. right? would likely affect on small business. and now is not the time you hit them up for this. >> i would now would not be the time. it's like going to the corporation and saying that it is something that as an employee i want a big raise. i'm not leveraging it at this time in my opinion.

and we've always gotten through it in many ways. the difference is not to this degree. sweatshops and child labor, we don't have that today. i think we really have to let the consumer determine. neil: and then all of a sudden you are ealing with out of control waste as well? is that a fear? >> that's not for me me. you will get this multiplier effect if you look at them and you impose on them and play ffrcing them to raise prices.

neil: not too long ago we had one of the cofounders and he was talking about this atmosphere that exists today he blames both parties for it or it it makes it very tough for them to create the new home depot out there. he was very critical of a system that places the rules and regulations and caveats on this. >> they have all said that we have not hired full-time employees for part-time employees and don't like that get out. they are afraid of the irs and the fec and the epa and the nlrb. it all comes from big government. neil: government is always

interesting. >> i would say that the level of policy and regulation has accelerated in the past two years. that's my perception. neil: it's hard to dial back. >> that is a general consensus. again, i can tell you that personal experiences here and not to pile on the issue, but the affordable care act and my family having to go out and try to get new insurance policies. neil: for your family or workers? >> your family. >> we have had an inordinate amount of time and energy. neil: are you spending more for the coverage versus what you have been a. >> vote.

i spent a lot of time and energy. and it we are fixing this going to digital. we are thinking about this moving back and forth in north and south. we have pipelines versus taak cars and we know that the oil

will be produced. >> i am just a voice in this. neil: we need a new person in the white house and congress and thinking. >> let's take a business point of view and an economic point of view. that will take so many of our economic problems out there.

>> we are learning from the past but not being locked into the past. not the way you want to see. >> i don't know if they read data. if you make the denominator smaller ---@ >> it will be a little but more favorable. neil: so maybe he was right mackie has been right more than wrong. at least for my experience. a great mentor of mine and a real friend or. >> we have tracked this prior to

this recession and an unbelievable correlation between the two. and that is the last thing that we want. and there are sectors that are really strong. the housing is starting to come back, the auto industry is coming back. oil and gas. we were getting dangerously close to being energy independent. probably some of the most disruptive technology that we've had. to be able to gain energy independence and we are close to oil in this country. >> were to take it going after

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neil: the winner of the quarter million powerball jackpot is showing you where to invest. first thing is first. pay our taxes. and if you already have, you opted for the rest going to uncle sam. the government is getting it done. places are getting it done like washington. leaving aside what washington does, why not all of those that? the uncle sam 401k plan.

>> nancy pelosi will be happy and it will be great. >> redistributing money works. and we don't know if people actually do take this if you observe it, it is backed by securities and you do eventually get the money when you are considering this, we have to remember that this is a big

money as well. when they started these lotteries, the beneficiary, by now, all the kids would have actual cash but they don't. they are dumber than ever. >> you are totally right. it's basically a government ponzi scheme. the money is is taken by the government and we hope that we will be that one in 1 million person struck by lightning winning the lottery. neil: he blew it off in a couple of years.

very generous gifts for a lot of reasons. and we will turn around with that pathetic her. neil: obviously not taking the money and just cutting down the deficits or debt in various states. so whether we can attach this, it must be earmarked and that's a horrible word. >> a lot of states have that issue. but they raise taxes on distilled spirits and cigarettes and many thanks which of course most of the money goes into general coffers and never makes it to the feel-good reasons that they give us. neil: that's absolutely true.

>> the $170 trillion, million dollars will only stop the spending for 30 minutes. like obamacare and others as well. neil: talking about, like we so what did you do with theis. money we are to gain them. >> that's where some of those jobs are going to union workers. they are overpaid 2.5 times more. the gas tax is a good example of how we did this and all the money goes to beautification

museums and trainings and that sort of thing. neil: ladies, thank you so much. all right, now we know that now is not the time. increasing the minimum wage. thousands and enough with no job. the cbo said that. countless small-business guys back here. we thought it would be a perfect time to get a liberal and conservative time to arguments. single logo. ♪

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neil: you get 900,000 out of poverty, but 500 these los 00,000 loss their jobs. >> i don't know the exookt numbers, i would tell you from my personal experience, you have

small businesses, if they have to raise wages $leanne hour. $leanne hour, and try to pass that on they could end up losing their business and shooting down operation,. >> leave is to a former chrysler ceo to say the minimum wage hike and going to crash and burn the economy. you get as we said 900 thousand out of poverty but you push 500,000 out of work. numbers that administration refutes. matt, why you do think that they are errorring on the conservative side. >> you look at study after decide, it shows raising the minimum wage results in job loss, in this particular study, you have a lot of people, reporting half a million jobe

losses, membership others saying a million or more, fact that people will -- are going to be hurt by the increase of minimum wage, they say it is fighting poverty, how is it fighting poverty if you lose your job. neil: do you find it a tad odd, when cbo says data that supports administration argument they are for it and when they dispute it they are against it, by way they are not only ones to do this. having said that is the cbo reliable or not. >> to be fair they since that sized the available science, we don't have to look at what economists say we could look in the real world, states that raised minimum wage. we've seen there a net effect on

jobs. in many of them the unemployment rate fell faster than the national average. neil: are you pegging it to those wages going up? or other factors that might be at play, like a booming state economy that does not mirror what is going on nationaly. >> a combination, but increasing minimum wage, giving people more purchasing power, means those businesses grow. the economy grows, then the consumer-economy makes sense. . neil: that moneys those consumers and their increase pay has not pushed some other folks they are working with out of work, it stands to reason, if you are a boss, someone will get the short end of that stick. >> there are pluses and minuses, but when you get 17 million people, an increase in pay, 900 thousand people out of postie, and net effect is zero that is a

poll have we worth taking. neil: the cbo did not disbet intnot get into that, we can dispute how they go the to that number. so, i guess, it comes back to, what do you do with this data? it would give businesses pause, a large, say that the pause is there because of the rules and regulations, they are afraid, is that fear justified? >> absolutely. let me tell you, business people are not reading the cbopeople, like bob for that dell scpe bi nardelli and bill gates run businesses, they know, people go overseas for labor, they find technology to offset. neil: not all of the time, history replete with all worry warts about wages going up or

businesses would fold, in prior times we had raised minimum wage, but when we have, it has not been the end of the year. >> i'm not saying the end of the year, but when you have a weak recovery, like now, why would you to anything, on top of obamacare and out of control spending? why would we do anything to make the unemployment picture worse. neil: either your view that recovery is not so weak? >> fair to say. >> you should tell others that. >> fair -- look, fair to say, i think that business opinion on this is split. you have some businesses that are concerned about what it will do to their bottom lines, but there are a lot of businesses like costco for example, say let's raise the minimum wage, they think by investing in their workers, that increasing worker product, and retention rates, sure we pay a litter more in payroll, on the whole we're better for it. neil: i guess the proof will be in the pudding if we get the

hike, president proposed for federal contract workers in the future, but note official or close for anyone else. in meantime bankers making money, bad, tech guys making money, good. the media picking and choosing its paid villains awful, damn awful. if you've got copd like me. ...hey breathing's hard. know the feeling? copd includes emphysema anchronic bronchitis. spiriva is a once-daily inhaled copd maintenance treatment that helps open my obstructed airways for a full 24 hours.

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nice book billions. to patriot national bank, chairman, michael, you are used to this stuff. >> yeah. neil: does it bother you? >> it does, because i think that people and executive position should be paid for a performance, if you make money and perform for your shareholders and investors, you should be compensated but the tech giants in silicon valley seem to be unscathed and don't come under scrutiny that wall street seems to. neil: their worth is billions of times more, literally for a lot of them, there no comparison about you're worth and overall pay packages. >> looking at excess compensation for executive out of silicon valley they are higher than wall street firms. neil: you know what i hear from tech ceos every time, this

subject comes up, we've never embarrassed u.s. government or cost u.s. taxpayer. we would not take advantage of bailouts of u.s., but that bankers will always have that pallcast over them. >> the lifeline of tech companies start on wall street. we are the lifeline to developing them and raising capital, gets that structure in place to grow. and blossom. in my opinion, it goes well beyond that. though, i think many of the major silicon valley firms are major democratic campaign contributors, but more so, very interesting president obama is our first president that ever used social media. social media was a major strategy for his 2008 election, he used twitter to remind voters to vote, and interacted on

facebook, back then twitter was just launched and the iphone was not out. neil: maybe you bankers have to get technologically hip. >> we have to catch up, in 2012, campaign was 10 times more than romney. it is social media plays a major part in democratic campaign party, i think that is major reasons you see more scrutiny coming on other siie. neil: well, said, thank you, michael. if you have to hit one on outrageous pay hit them all, go make it a firing machine gun but get them all, don't pick and choose who you really hate. take a lock at this dow chart. 1929, and months ahead of it, look at the dow today, notice anything similar. similar? one guest does, he sees 1929 happening all over again. >> tremendous crowds you sse gathered outside of the steek

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neil: the dow right now, winter 2014, back then in winter 1929. weird how similar they look, right? we remember how that 1929 dow chart ended. wonder if the 2014 dow chart ends the same way, to a bull and a bear, to separate the spread from the -- sheet. money manager said that markets are headed for a cliff, and kevin otherwise, kevin, why you are noto depressed about it. >> there is little that is the same between now and 1929. 1929, you already bebegan a recession before the top in market. in october of 29. you had a fed that was paralyzed

and unable to getting any done, you have a cooperative fed, looking to add liquidity. big thing in since from 1920 it 1929, 9 years, you have almost a 4-fold increase in the dow, we have had nothing hike this, since 2000 we've been up about 2.5% a zero average, nowhere near the same, valuations are better today than in 1929 for sure. neil: you look at the same thing, what do you see. neil: see? >> i'm a financial advisory, my job is to protect my clients from bad things issue we spend all our time looking for bear markets like in 2007 we told the customers to get out of the market, and we told them to stay out in all of '08, that chart concerns me, we're in the middle of what i call a

government-infusion bubble. japan has pumped in printed over a trillion dollars in their economy. europeans with european crisis. they pumped a tril don dollars into their economy, the chinese, maybe even more than a trillion. and then we have pumped in three and a half, that is 7 trillion and counting. neil: we were not 5 or 6 years past a michae mike major meltdown. it is different, we have not been new an experience, we have. with this market? well, you can't say that the circumstances today are the same. as the ones that were you know present in 1929, they are not, but the market run that we had. huge run, since march of '09 to me bodes badly for the next downturn, because of that

government infusion bubble. neil: good poin, but i want to pick up on another point but what might be levitating the market now. carl icahn. >> a lot of people said last year's were built on air. do you buy that? >> i do, right now, i think that whole injection of capital, is like giving somebody sort of llke a heroin, you don't know what it is going to do to them. neil: he was talking about the 65 million a month that federal reserve is providing to keep everything honky dory. >> he also has been involved in one of the biggest names out there, apple, so, he is putting money to work. he is finding value. neil: he said he could pick value of good stocks in any market like he has, he hedges in these markets are. but the valuation of market

itself are such they are generous right now, ken, do you think that market is rich? in general? apple is notwithstanding. >> right now, last year, i said dow would hid 1 16,000 it did, my fearless forecast for this year is dow 18,000, i am sure that the little bit little bittions will do what they can. after that we have to watch out if taxes go up and interest rate go up it could pop the bubble we could have problems. neil: what do you think? >> did i hear target 18,000 by dow by end of the year? neil: yes, i think that is possible. but -- neil: that say good target. >> i would say that, if you take a big step back, and you rah

have to in this case. we have been through a tremendous amount the last 15 years two gut-wrenching bear markets, the fed has been supportive but private sector is paying down debt, and saving again, they are doing positive things, businesses are hiring, you have 200,000 jobs a month more or less, you have good things in the economy family -- fundamentally, i would not short sell the market. you had a 2.5% a year return since 2000, you are not looking at a bubble. >> i don't disagree, narkl necessarily with that but i think that next bear market will be a very big one. make sure have you a protect mechanism, when that next bear market comes you don't top lose 50% of your money.

>> that would be under the mattress. >> if i could add. i think he is right. you have to watch valuations, they seem to be good, fundamentals seem to be good, and i'll leave it there. neil: you argued both points very well. i appreciate it. >> the republican who is laanching a pack to defend conservatives not from democrats but from republicann. there's this kid.

coach calls her a team player. she's kind of special. she makes the whole team better. he's the kind of player that puts the puck, horsehide, bullet. right where it needs to be. coach calls it logistics. he's a great passer. dependable. a winning team has to have one. somebody you can cou on. somebody like my dad. this is my dad. somebody like my mom. my grandfather. i'm ry pround of him. her. them.

neil: well, texas republican had his fill with politicians trying to wipe him out. thing is louie is not whining about democrats, he is whining about republican, mainstreamers who find tea partiers quant, and now want to make them history,

he has a plan on his own, who assignment will to be defend conservative republicans, from establish am republicans. congressman that soundsls like a civil war. >> not a civil war it just a matter of buying prudent, and protective of those who standing up trying to protect the country. i would not say whining we stnd up call it like it is. those are people that deserve to be helped. >> and sometimes people get intimidated, either you go with leadership or you are not going to share in largess that leadership can raise for you, i can't take credit for a new concept. neil: one thing to express your dissatisfaction about a leadership that dismisses you or trying to marginalize you, but this going after that

leadership, saying you keep this up, i'm going to slap you upside your head. >> well, we're just going to defend people. neil: what does that defend mean? getting ads out for tea party or conservative candidates aimed at main street republicans? >> it heenes helping those who -- it means helping those who stand up for what their district believes, their conservative positions that will help us get back on track as a nation, avoid future bubbles created and burst. these are people that will stand up for common sense, and protection means, we provide them funds, contributions, help them laze funds they will -- help them raise funds, they will know people can help them, they can raise money themselves. neil: you are familiar with my colleagues who do not like this scorched earth policy they say,

this hurts all republicans. when it is republican sniping with each other, what do you say? >> i would as i use the word defend, because the sniping is already started. this defensive act, this is to protect those who stand up for what is right. it is not skyping it i did fen those from saeb am people what are scared. neil: a are afraid ta guys like you -- you heard the drill, you will cost the republicans getting the senate or this type of our way or the highway, they say will hurt republicans this fall. you say what? >> that is -- i say that is why we have to have mitt romney aa a candidate, if we had anybody else like a strong conservative or a ronnieald reagan stand up

and call it like it is, they would not win, and mitt romney would, that worked out real well, millions of americans stayed home. they could not tell that much difference between the republican san date, and the democrat, -- candidate, we hear all of the time from our leadership, we have to give these moderate some leeway to represent their district, well how about the conservatives, that want to stand up and represent their conservatives district, we don't hear that from our leadership. that is just going be standing up for those who try it stand up for their districts. >> thank you very much congressman. >> thank you, neil. thank you neil. neil: all right, forget these beauties, on "sports illustrated" front cover, how did that get here? did you check out who on the back cover -- not their back? did they mix it up, or a brilliant way to get to us talk it up. ing in dubai,

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neil: it is worse than subjecting kate to space and big weight less, putting her on the pack cover of "sports illustrated" proving that editors there are clueless? maybe not we're talking about it maybe the time property gets to have it front cover cake and eat it too. back cover cake -- you know what i mean! in biz little bit deciding whether "sports illustrated" twice as many readers for a issue, scott martin, and jarred levy, i am looking at "sports illustrated" ehere is the front cover, flip it around the back cover there is kate, i am thinking normally the back cover goes, company that pays a gazillion dollars to be associated with this, and "sports illustrated" loses out on that, is this a good move?

>> did they make it up in sales? it a nice perk to see kate on the back cover. you can find a lot of great picture the of her a lot of places, that is the issue here. neil: she is in the -- wait she is in the magazine, you are right. how about that. >> amazing, i have done my research, with regard to si, and the buzz they are creating for magazine, i think it is great, as far as time warner, that is a real question. i have this thing going on with comcast, i like comcast better going forward, it not the same draw, that it once was, you are seeing competition takeover, and kate upton, can be found in the magazine, all over the internet, she is a self starter, she does a great job of getting her out there through other mediums. neil: a key place in magazine there, a big advertiser normally is there. and maybe scott is right, jarred they will find elsewhere

@%vertisers, if magazine sells them in notion we'll sell more copies you get more eyeballs. >> it is funny how passionate scott is about this, you know, a good poin, you bring up, the fact that -- >> their is a be story, young man -- a business story young man. >> there is a business agile. two covers drawing more eyeballs there is a lot of other media, i don't think that the ceo of time warner thinks that kate upton is changing the face of advertising for the company. neil: well we're abreast of it never the less. in the meantime, netflix knows how to melt the internet, and internet traffic, such is demand for netflix programs on some days it is account for a third of all web traffic, a crush and rush for the programming internet service provider see very slow video downloads,

customers both line it, some providers like verizon top charge netflix more for it. >> it will be a fun fight, ne netflix separate themselves from telecom companies, who are they going to to choose, i think sfok stocks are showing -- telecom is tough, verizon and at&tes of the world, sprint could they are tough they are commodotized, capital intensive. netflix made the game change with original content, house of cards, super popular that is where you go if you look to pick sides. neil: jarred. >> i think that netflix could be in short-term a little bit of a loser, all our internet traffic is throttled, company that winner providers of bandwidth, google, laying down fiber

network, watch that stock, the consumers -- i would not buy net glick because it is overvalued. be careful who you buy. >> thank you very much. lou: good evening, president obama today demanded that ukrainian government avoid further violence against pro western demonstrate ores it kiev, more than 25 people killed there, hundreds more injured in clashes between antigovernment protesters, and police. obama warning there will issue as he put it, consequences if the ukrainian government against crosses that line, retired four-star general jack keane will join us, and also, president obama pushed by canadian prime minister harper to approve the keystone pipeline, and a billionaire left wing activist is