tv Cavuto FOX Business February 21, 2014 6:00pm-7:01pm EST
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uncle sam to bankroll a project. the idea stinks'. that is it. we will see you next week. neil: so much for new year's resolutions because you may try to stick to that diet by washington gave up trying. welcome, everybody. i am neil cavuto. get ready to get back to continue more spending because it never stopped. ending the week with the budget that is weak. a.m. did goodies for all including to keep democrats happy in benefits to keep republicans happy but if you are among those who worry about the debt and more
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spending, you are not happy. tough. the president thinks even the mice -- smallest promised even for a living adjustments with some benefit programs that are not happening in republicans are not arguing. spending money like we have it and a farm bill that has little to do with arms it infrastructure spending when we have little to show for those we have already spent with infrastructure. forget republicans crying foul they are not saying boo no wonder the tea party is boiling. now meee 80 partier who does not take this lying down. the big rush to give up the fight and will likely keep losing elections as a result
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their folding one after another. this is completely will not work in their favor they are afraid to be called obstructionists that is almost laughable if i were a republican right now with the leadership position in that building i with rocks that obstructionist label and wear it for all it is worth. but they cower because they don't want to be called names. but they will and i will be sure because this kind of behavior is what is wrong. tech on another $56 billion for grand kids? neil: an issue from the debt commission share said yesterday he is listed. >> it is alice in wonderland and it gets worse every day because this president will
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fail as the president his legacy is imperiled if he does not do something. neil: but with the doing it with those who are hanging their hats on health care exploding but have you noticed his poll numbers? they are beginning to move up some babies casting fortunes and then giving up spending resolve. >> for republicans to say i am disappointed does not sell any more. so that the digest statement as when i will spend as much as 5.back up whenever debt and don't worry about any of responsible budget a and hand it to my children. but they get away with this because the republicans don't say anything.
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they just keep raising via debt ceiling that i prefer to call the ted they say it is not our fault but obamacare has effectively to points the finger at the republicans and they tower in the of corner. they have a job to do. say no to ridiculous spending. neil: spending money that you don't have is wrong. always a pleasure. did republicans asked for this spending? the farm bill, and on and without a single attachment is it any wonder they keep going for the dollar? my next guest is wondering of former republican and wisconsin governor in former hhs secretary is years you have to wonder about the logic that they are using
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now to avoid rocking the boat even as they sign on to more spending? >> absolutely. the truth is that the only good thing about the $56 billion tax increase budget battle, puts forth his $22 billion less than the last failed budget. it goes no place ahead, nowhere, the dead on arrival, the spokesperson for the white house said it is a political document but the republicans have to show leadership. but like the person before has indicated that people out here are wondering what will take place. they understand working between eight and 10 hours a day they cannot spend money they don't have. republicans need to put a
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stake in the ground but who is fiscally responsible? neil: you hit the nail on the head. ryan cousins of logic of the leaders to say we don't want another government shut down to be the obstructionist but the danger thinking health care will be germane in november you have to hope that continues to be the case the president's numbers are taking up and now the health care law is stabilizing. not that it is great or he is a great president but americans -- republicans have given up with the hope that they will get their way in november. i think they are eating their cake and a little too early to. >> if they don't stand up than nobody will.
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it is their dna. that is what the republican party stands for fiscal responsibility that is what we're asking for. they don't like obamacare. is a failure. they want to make sure they don't pay grab to this country to put off on our sons and daughters and grandchildren. people are thirsty for a leadership they want republicans to be accountable with washington. neil: but they say they get mixed messages below and behold when they have the cost of living increase then no, no, no. some republicans fear they are in electrocuted. what is your advice? >> be straight with the american people. the entitlement programs are out of line, we cannot afford them or continue to raise the debt over
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$17 trillion. we will bankrupt this country it is time somebody says so to get the people behind us. they have to do it day in and day out and not wait for somebody else. they have to do it. neil: tommy thompson. former governor thank you. one way to not get young people on your side. >> the truth is young people are knuckleheads. [laughter] neil: you will not believe why this woman was arrested. >> i am not breaking the law >> i am taking the phone. >> know you are not. >> yes i am. >> sorry. get off of me.
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you will get a glimpse of what is coming up later in the show. as you can see sometimes it is pensive we will show you you could hear from somebody who said you could be better off not to buy a home but rent forever. so keep looking out because we are helping you. >> lots of young people think they are invisible but the truth is young people are knuckleheads. [laughter] they are cooking for the first time slicing their finger open or reducing on the bar stool. [laughter] >> i would never do both of those things. [laughter] neil: knuckleheads need to sign up for obamacare the so we thought we would ask a couple. charlie is here with us.
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a and i guess neither of you relish being called a knucklehead? >> i am a bad coke so i do slice my finger but that was ridiculous to make that statement wind up white house needs young people to enroll in order to be successful. late will turn more people a way. they try to push these big policies with said many states that says don't people don't know how to make choices for themselves that is what was reflected with heard knucklehead comments. that is where the administration it is making an error. it was a sharp tone although she tried to be humorous. we will tell you what is best for you instead of them being empowered for themselves. neil: i know what she was
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trying to say that they think they are indestructible but this is the bullet proof stage but it was a clumsy way to frame at but you may not see q need health insurance but sign up now. did she impressed you? >> not really. she called it a knucklehead but i would say young people are reasoning with the health care law making a sound economic decision of a sudden the minimum policy has tripled? if you cannot afford it i will pay the small fine. that his is a good consumers are live would disagree fundamentally. i think she meant what she said but i don't think she meant to say it provides think previously they will get our generation as knuckleheads that they can
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trick to vote for those policies. neil: that is interesting. we were showing the youth vote the last couple of elections overwhelmingly for the president and democrats as tends to be the case. maybe she just takes it for granted that people understand? >> i think they tried to play off of millenials card wait too long but they are disenchanted with the obama administration and policies. young america foundation nationwide pulling it is 40 percent think the government is too big and too intrusive as opposed 4% think it is too small. what's is resonating is the conservative values of limited government and free market policies. that is not obamacare and
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when they see sticker shock premiums are going up because they have the subsidized health care. neil: you should get on the stake and take care of me but you are not. but is there a potential even with all the problems the young peeple have second thoughts on government? to be very altruistic and generous? >> absolutely. altruism is easy when you spend other people's money. but actually the eggs under people's money doesn't need to be spent we pay the price. it is forced by coercion. young people as ashley just stated eloquently we are forced to pay for policies we will not benefit from as the big kraft our future and we cannot afford it.
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of with love to take care of you but i cannot pay higher premiums. neil: i am not take get personally i wish that wisdom was way beyond the young people. thank you. neil: is justin beaver only big with kids? he is even bigger with those parents because the media is hot on anything coming out of him than any scandal seems to constantly bubble up around him. [ male announcer ] if you suffer from a dry mouth then you'll know how uncomforble it can be. [rickets chirping ] but did you know that the lack of saliva can also lead to tooth decay and bad breath? exhales deepl] [ale announcer ] well there is biotene. specially formulated with moisturizers and lubricants,
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putting her on the back cover of "sports illustrated." did you check out who is on the back? and flip it around she can be found on the internet. >> this is how passionate but there is a good point. >> some of you apparently thought we were with overkill but i want to you to decide if i doubt if she stays or goes. news you can use. you might find justin peters tactics which is bigger than the taxman because the media is more interested to use videos the of the white
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house scandall. if this is over the top peter beats benghazi? really? the data em duschinsky why he cannot deny how his friends are misguided. his hair amazes me by the way but we go crazy to get video? >> then showed them going after anyone with half a dozen scandals. >> you could throw a dart at the board. benghazi, and "fast & furious", nsa, silencing the two-party, irs, maxine waters and shady banking ties, and media phone records and a lack of reporting on the ballooning deficits.
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jay leno had a great line the president campaigned on hope and change now is hope and change of the subjects. neil: nothing from jimmy fallin? >> no. but this is why they are taking over the old media because maybe people really do want to read those stories. >> i am all for this. what does he look like when he is under arrest but that is all i am saying. >> i get worried any time we don't talk about the media. neil: it is the alternative to use. >> i am happy with this conversation to represent the entire medda but it could well be capitalism
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does not serve the media well because this is what the people want not the decision by the media. neil: when people of ask about should congress continued to investigate ben gauzy there is a lot of passion writing they are not getting attention. >> there is a big difference between what you agitated about what will you watch on the screen? into the other question and [chanting] day over and over and over? we could do both. is it is the 24 hour news day.
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>> my opinion is people's eyes would be diverted to beiber on this list rain -- split screen. >> i think i hate when journalists sounds so important about their job but the american people understand they try to make public figures feel uncomfortable to root out corruption. that is what jefferson was about. he would be the beiber fan also. >> but the essential problem there is no money with that. there is no money with the serious stories so we'd do it for different reasons. it is not profitable otherwise. >> the alternative media is
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serving the public like the i.r.a. scandal and "fast & furious" and they are making money. neil: it is a big plate that you can fit a lot on its. thank you very much. that a cop stops you you tell the cops you are recording him and trouble begins. >> get off of three. get off of me. know i'm not. i did not do anything wrong. get off of me. (vo) you are a business pro.
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ameriprise asked people a simple question: can you keep yr lifestyle in retirement? i don't wa to think about thalternative. i don't even know how to answer that. i mean, no one knows how long their money isoing to last. i try not to worry, but you worry. at happens when yo paychecks stop? because everyone has retirement questions. ameriprise created the exclusive nfident retirement approach. to get the realanswers . start building your coident retirement today. >> i have to tell you i forgot to tell you i was recording. >> i have to tell you just commit ad felony. >> okay. >> give me your phone. >> no. >> hand me your phone?
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>> no. >> i said hand me the phone, it is evidence. >> i'm allowed to record the conversation. >> hand it to me. >> get out of my car. >> you are committing a fellly, hand me the phone. >> no i'm not. >> i know the law better than you. >> i'm nnt giving you my phone. >> you will end up in jail if you don't hand me that phone. neil: i do like this woman. i don't even know her. let me be brief. there ought to be law because this reeks double-standaad a woman ends up in jail after recording a traffic stop. perfectly fine for police to keep recording you before, during and after a traffic stop. i'm no lawyer but that doesn't fly right. whether they can think the cop went too far and this is at all fair. ashley? >> i think the cop went way too far in this situation. never should have arrested her. she should have the right to record him. she followed the law. she told the police that she was recordings him. that is what florida law requires.
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neil: is it a felony? is it a felony? no, that is felony. give me your phone. >> right. she told him she was recordiig hill. she did what florida law requires. requires both parties are informed. they're informed being recorded. she is fully allowed to record him. >> no one informs me when i'm pulled over, you know, that the dashboard cam on the cop's car is on. he doesn't tell me, by the way you're being recorded right now. it is just done. no one checked with me. >> right. well that is the police. they're allowed to do a lot more things than normal citizens are. the fact she was complying with the law in this situation. the cop clearly lost his temper. neil: what do you think? >> neil, i actually agree with you guys. the cop did go way too far. but really have to question wha. traffic law.he vie rate ad the cop had every right to pull her over, ask her questions, give her a citation.
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instead of letting him do that, letting it be she preemptively records the officer even before he gets to her car. neil: she told him, she was. so it is not as if she pull ad fast one. >> why was she doing it? why was she doing it, neil? neil: maybe his demeanor or language or said something. >> it was before, it was before even came up to the car. she already started recording. neil: what is wrong with her recording? let's say nothing precipitated. what is wrong with her recording? what did she do wrong? >> there is nothing wrong. there is nothing wrong i agree she had every legal right to record this officer but you listen to the tape, you know when an officer give you a reasonable command, when he is pulling you over, neil you follow that command. neil: no. a lot of them are bullies. they love power. come over. and all of sudden. >> right. neil: no. >> pulled her out of the car. neil: one at a time. one at a time.
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ashley, on that point alone i think officer overstepped it but, not only abusive tone and demeanor but making a big stink over something i think was genuinely harmless. >> and i think that people should record their interactions with police more often because we're ending up with he said/she saids a lot of times after the fact. the police are better off regarding -- recording all their interactions. can put a camera on lapel. you mentioned earlier, neil, recording on their cars. they're smart to do that i would like to see all the police departments use that. if a citizen wants to record them, i don't see any problem with it. i think that is their right. we're playing for police officers to patrol our areas and keep us safe. if we want to keep our cell phones on to record them, i don't have any problem with that. neil: nadia? >> i don't have a problem with it either. excuse me, i think when a police officer pulls you over and he is requesting put the phone down, give me your phone, let me see your hands, police officers need a certain level of authority
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over people. that is what they do. neil: what if she had, okay. like you want to see the hands if she had a weapon. what if she had the phone lying on the dashboard? he would still want it. none of his business. >> good question. i'm not defending what this police officer did but at end of the day i think he fell into her trap. she was being very combative. arguing. like looking for a fight. guess what, neil? she is running to the court house steps and trying to sue for millions and millions of dollars. seems she is not being mother teresa here. if she had a reasonable belief he was pulling her over illegally. neil: can you imagine if mother teresa were alive and you pull her over and record every word. >> she was trying to record. neil: ladies thank you very much. meantime jpmorgan pace up millions of fines to the government and still gives the executive big pay raises. i you to meet the guy who says, that is not a settlement. that's a sham.
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neil: 13 billion bucks in fines not enough? to hear better markets ceo dennis keller tell it when it comes to jpmorgan not nearly enough. keller is so ticked off about the settlement he is suing jpmorgan over that settlement. he says the financial firm got off way too easy. the proof is rewarding its ceo jamie dimon with a $20 million pay package that made it look way too easy. so, dennis, you're suing on what ground and for how much? >> hi, neil. nice to see you. thanks for having me. we're suing the department of justice actually because it exercised unilateral power by cutting a deal with jpmorgan chase behind closed doors where jpmorgan chase paid the executive branch $13 billion, and the executive branch acting through the department of justice gave jpmorgan chase complete,
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blanket, civil immunity for massive, pervasive illegal conduct relating to inflating the subprime mortgage bubble that caused the crash in 2008, which was the largest crash since 1929 and it caused the worst economy sips the great depression. neil: who caused that? are you saying jpmorgan did or the government looking the other way? >> there is plenty of blame to go around but certainly the crisis was caused by pervasive, fraudulent, illegal, and sometimes criminal conduct by the too big to fail banks on wall street. neil: on that point, i don't mean to jump on you because that is crucial point. the banks say, and jpmorgan says, punishment mete the out, 13 billion more than enough, leave us alone. >> and you're right. that's what they do say and what we're saying is, cutting a back-room deal that is secret between the executive branch and the biggest, most politically-connected powerful bank in the united states, jpmorgan chase, with no accountability or oversight is
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not permissible under our form of government. better markets is often called the wall street watchdog but we're also a government watchdog. we believe there has to be accountability on wall street and washington, d.c. and the way to get that is require the department of justice to submit this settlement to a federal court and let's see if it withstands the scrutiny of the light of day for the american people. neil: you know, i would sooner think get government upon us to find out this money earmarked to shareholder relief and those who were burned and relief for them, that actually goes to that intended purpose. i doubt that very much. >> well, it is actually not even all for that. $2 billion was a penalty -- neil: that's right. >> paid to the u.s. treasury. but, neil, ask yourself, if jpmorgan chase had 300 or $400 billion in liabilities do you think a $13 billion settlement would be very much? it wouldn't even be a slap on the wrist. neil: what would be? what would be? >> well we don't know any of the facts. we do not know how much money
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jpmorgan chase made from its illegal conduct. we don't know how much investors lost. we don't know how much liabilities at stake. the department of justice didn't not even disclose which laws they alleged jpmorgan violated, who violated them or how. neil: all right. >> they constructed this deal to conceal, not reveal to the american people. so what they're trying to do is sell this as being tough on wall street when providing no one, including the american public, any information that they can judge for themselves. better markets we believe in transparency and accountability to the american people. until the american people have enough information to judge for themselves, there is no reason we should be trusting them. neil: dennis keller, thank you very, very much. >> thanks, neil. neil: switching gears ever so slightly. see this kate upton video. some viewers think we're way overdoing it. guess what, apparently nine out of 10 of you think we are not overdoing it enough. tit-for-tat on the story we continue to shamelessly milk.
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neil: upton, putin, dogs. ww connect, you -- anyway. david asman here to do the honors again. >> only you could put those people together. neil: there we go. these are the they stories we'll connect them because they are connected whether all this kate upton coverage is getting senseless. whether vladmir putin who is apparently very fond of young ladies starts getting ruthless and whether more people leaving their dough to fido proves their "clueless." first to kate. later to the dogs. but are we dogs, constantly showing this kate up son video?
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she is on back cover of "sports illustrated" some of all of you think we putter hundred mt. rushmore. some, not i vest at all. some person angrily tweeting neil, give it a rest. still another, are awe crazy. you could talk about kate upton for a full hour, five days a week and on weekend repeats. >> what is wrong with that? neil: what is wrong with that is right. never enough kate. i would prefer a video of kate on screen while you talk. i aim to please. anything for you, the viewers. dave, dust-up over miss upton? >> my only question, neil, why you have pictures of us when you have pictures of this going on? what is wrong? neil: this is she did a photo shoot for "sports illustrated" underweightless conditions. who came up with that idea? >> i don't know. but i like to pin a medal on him. we're talking about gold medals. neil: do they give medals of
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freedom for that? >> they should. she is full-figured woman. she is lovely. going to outlaw pictures like this? what do people want to do? neil: they say this we overdo it. >> to no how could you overdo that? i don't care, my wife would encourage, my wife is from latin america. she understands what pleasure is about. neil: absolutely. >> the thing my wife says she doesn't care where i get my appetite, a long as i come home for cooking. neil: okay. i got an email from my wife. enjoy the couch. [laughter] >> that was me that said that. not you. neil: meanwhile, you guys are also talking about putin, pouting and all of sudden i'm thinking maybe pounding? i've been watching vladmir putin very closely watching these olympics. he doesn't look too happy. his hockey team is out of the prospect of losing to the u.s. in the total olympic medal count is beginning to sink in. get ready for the russian to start raging. scenes like this of russian
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police whacking a girl band are just a warm-up act to just, worse act. that's what i think. >> unbelievable. in fact the russians just used their influence, of course they were blaming us for the same thing, with the judges to get that figure skater gold medal, the 17-year-old figure skater. neil: the one who fell like 50 times? >> she didn't fall that much but the fact she wasn't as good as others. neil: she was drunk though, was she? >> wow! you will never be invited back to the open olympics. neil: i was just --, he is just angry. >> putin comes from a culture of encouraging rigged games, picking winners and losers, using government to go after political enemies. wait a minute. did i say putin or obama. neil: stop it. my theory, obviously he felt no compunction, some said authorized this attack on -- >> compunction? neil: this girl band, assaulted them. had no problem with it.
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the word was they showed up, they showed up, the police were on order to take them down. >> you know it is interesting, they weren't officially police. they were these guys dressed up like cossacks, being used by the police. absolutely. neil: did they hurt them? >> i don't know if they hurt them but the fact they were whipping them -- neil: inexcusable. >> look at think, inexcusable. >> this is putin. this is russia under putin and -- neil: i'm telling you, i bet that came with his blessing. >> strangely after0 years of communism i think he still does have majority support. i do believe he rigs elections. but i believe, even if there was a fair election he would probably win, because the russians -- neil: it is what it is. what if putin sets his guns on us? you better make sure you have your whole will sorted out. apparently a lot of folks have. you wouldn't believe what they're doing. more and more, are leaving it all to their pets. yep, fido gets all the dough. one person, including i like my pets more than most people. why shouldn't i make provisions
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for them? okay. another, neil, it is something, a respons owner does. dave, are you leaving it all? >> you know, i do have a wonderful dog i'm totally in love with, a little habinese called luna. neil: he, she? >> he. neil: knows how to work -- >> we are at top of the food chain. we are at the top of the food chain. dogs are not. remember that. neil: what if you hate all the relatives and rather give it to the dog? >> you can do that. leona helmsley, the witch of park avenue, remember leona helmsley? we shouldn't speak ill of "the departed" but she was awful woman according to all reports. she left millions of dollars to her dogs. as awful as that is and she is awful woman, i don't think, i don't think there is anything wrong with it. it is their money. you should be free to do anything you want with your money, even leaving it to dogs as dumb as i think that is. neil: i'm still thinking about the comment you made about the
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last story. >> it is my wife's comment. neil: there we go. >> where i get my appetite as i long as come home for cooking. neil: honey, i don't know. i had nothing to do with it! >> i saw you writing that down. neil: all right, now. chris christie has to be miserable on this damn diet he is on the rest of new jersey better get miserable with him. do you hear about this? do not think about lighting up. pretty soon throughout the garden state the whoop your ass police are coming down. >> oh, no. neil: yep. so ally bank has a raise your ratcd that won't trap me in a rate.'. cause i'm really nervous about getting trapped. why's that?
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bust. bad time tore cigarette companies or just continue ages? >> every time i see one of these headlines, neil, i think it is a buying opportunity. if you had bought every time the government stayed local -- state, local, federal, cracked down on cigarette companies you made a small fortune. we've been through this time and time again. the cigarette companies, philip morris, altria, have long shown that they are always seem to be a step ahead of these regulations and crackdowns. i think cigarette companies are still a great place to have your money. neil: all right. but a lot of it, that we're looking at here, is worrisome because they do get a lot of their business abroad to pick up for the slack in the u.s. but you can only do that so much, can you keith? >> well, look, sin is in. there are two things people do when economics get tough or when politicians claim to get tough. they smoke and they drink. bottom line, it is great time. they have great dividend and solid management and they proven in court no matter where they
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are in the world they will not take this sitting down anymore. they have lots of lawyers fighting back. they're no longer easy target -- neil: but they always lose, on this kind of stuff they will only lose. >> what will they lose for? you can't legislate morality, i have a lips today. no matter how hard they try. neil: kate upton video night is. neil: housing hitting 18-month low, on same day more people are opting to rent instead of buy. gary b., that normally, normally ominous sign for housing. what say you? >> i think it is ominous sign for housing. i think housing is on the decline no matter what you look at, new home sales, media prices since the start of 2013. there is plenty of people that have gone through, my gosh, last, 10, 15 years not seen the value of their house budge upwards. most people have seen decline. i think that the trend, at least for the next generation is to be more toward renting than buying. neil: yeah, but you know, the flip side is, they're prompted
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to rent, keith, because home prices have gone up which in the macro sense would assume be good, wouldn't it or no? >> i don't think so. i think it's a sign of the times. i'm with gary. we've seen a long thing coming this is lots of external supply, long-term supply. i've lived in asia where i see the opposite. i don't see that here. i wouldn't touch homeowner stocks anywhere in here between a two-by-four. neil: time for the night cap, gentlemen. point in the show, stuff you think about tonight bright and early monday morning. gary b.? >> other than the jobs report, neil it is gdp number that i look out. that comes out next friday. that is the best look at how the economy at least has been most recently. i think you're going to start to see signs where it is kind of fllt. neil: what if the gdp report covers, what period? last quarter? >> yes. last quarter. and -- neil: so before a lot of nasty weather hit? >> exactly. neil: this quarter looks like a
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disaster. >> this quarter will be horrible but even last quarter i think, with all the adjustments, everything, will still be flattish which honestly i think is indictment of this current administration. neil: keith what about you? >> well, said, gary, indictment of this administration, gary, absolutely. i'm struggling with a sense of day have view -- deja vu dot bomb be here. i don't like it. i think it is something wrong. makes the cover of "newsweek", boy here we go again. neil: i was thinking same thing which should concern you and run other way, when i see these type of valuations awarded to companies, i'm thinking that kid, snapchat or turned down $3 billion offer from facebook last fall? well, he is looking brilliant now. i don't know if that is a sign of his prescience or the market's craziness. >> makes you wonder.
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szukster is got money to spend. this guy turning down three billion. where is reality in this? maybe they see something i don't. neil: called new paradigm. gary b., we talked about other paradigms went bust. i always think you got to invest, promises is one thing but profits invariably are the bottom line thing. we're going back to investing on that worries me. >> yeah. exactly. and i think you know, these new companies, and i still throw maybe it is not new anymore, but newish, even like google. certainly facebook is relatively new, they are so desperate for that next edge. it is like they have got to come up with the next great thing i think they're a gamble.
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neil: keith, go ahead. >> we're using words and similarities between the.bomb be crisis. eyeballs. click factors. we're seeing all terms come back. that is worrisome. neil: we've done that with the kate upton video. thank you very much. >> good evening everybody, the former second-in-command at the central intelligence agency is accused deliberately lying to congress about the infamous former deputy director, michael morell told congress under oath and private one-on-one meetings that he did not know who removed references to terrorism. but emails released by the white house have senate republicans now looking for answers. retired air force general thomas mcinerney will be here in just moments. also tonight, she left another network for bigger and better opportunities right here at fox business. the anchor of the brand new sh
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