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tv   Forbes on FOX  FOX Business  August 24, 2014 2:00am-2:31am EDT

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risk. he's not getting any younger. >> okay. how would you pay for the kids? >> with the guggenheim equal weight technology. technology is the this will smooth out apple and microsoft. >> guys keep it right here. the cost of freedom continues. it all started two weeks ago this very day. chaos breaking out after michael brown was shot and killed by an officer in ferguson, missouri. the very next day, the justice department sent in a group of what they call protest marshals supposed to calm things down. we all know how that worked out so is this group that the department is spending $12 million a year on, your dollars, worth it? hi, everybody. i'm david asman. let's go with in sabrina sheaffer and rick hunger.
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when the federal government focuses on race what it usually does is inflame racial tensions. aggrieved party feels like the federal government is not doing enough. and then that the federal government is doing too much to placate. i don't like lots of excessive police force, but in this case, we've got to pull back. >> and, rick, justice in this country is supposed to be blind. doesn't it go a little bit beyond that? >> i don't know that it does, actually. you need to understand this is an organization that's been around for 50 years, used by administrations on both sides and not always a situation that involves racial rioting or what we've seen in ferguson. so, yeah, unless you've been in their presence and you see that it behaved in a way that's inappropriate. there's nothing to show that
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they've done anything but -- >> i don't know what evidence shows have been helpful. i do know after they arrived things in ferguson got a lot worse for several days. didn't get better. so the situation did not improve. the question of what they do, though, is kind of answered in one request for information when they were involved in the trayvon martin case. they sent some protest marshals there. this is a statement that says they're there to provide enter regional 40 for protest deployment in florida. how can the government support protesters against the government? >> that's bureaucratic language. look, i thinks striking that we have the equivalent of blue helmets here. everybody wants peace in ferguson. the issue is, the officials,
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what are they saying and doing actually down there? they are quiet most of the time, they wear blue caps and they're supposed to keep quiet. but they're asking pastors to smooth out the situation. one organized between prosecutors and that came after the prosecutor had hit zimmerman with second degree murder. >> well, i don't see evidence that these people are doing stuff that's supposed to improve justice? >> right, i don't think we need more government to come into ferguson to protest peacefully. of course, you had a problem with rioting and violence. i understand that we need to quiet things down. the last thing we need more people from the outside on tax dollar expense what ferguson needs is to figure it out on their own.
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>> and the real question, rich, whether they are crossing a line in advocacy? that question was highlighted by some of the statements of eric holder this week. let's just play one of them and get your reaction. >> the national outcry we see speaks to a sense of mistrust and mutual suspicion that can take hold in the relationship between law enforcement and certain communities. i wanted the people of ferguson to know that i personally understand that mistrust. i wanted them to know that while so much else may be uncertain, this attorney general and this department of justice stands with the people of ferguson. >> so the point is, rich, i know that they're going to say we use these protest martials to support both sides. does anyone believe that there's anyone supported in favor of the cop's vision of things as in favor of michael brown's vision of things? >> no, i don't believe it. look, if you want to spend money
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effectively, what ferguson should do is look to los angeles. los angeles had a shooting similar to the one in ferguson this very week but los angeles didn't erupt in violence. los angeles has had 22 years to figure out after the rodney king case how the police could be more effective. i think if you want to have help, i'd be in support of federal help but it should be educating the police force to do what other communities have done. >> john, we know where president obama comes from as a community organizers. and eric holder. there are people close to al sharptons of the world. that's their idea of deployment, right? >> if you want to involve the al sharptons of the world you're going to exacerbate a problem that would die fairly quickly.
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that's what i like about president obama staying away from this so far. if president obama gets involved it's going to be a situation where the aggrieved will feel happy for a time but the nonaggrieved will say hey wait a second why so much governments for involvement here but not here. stay out of it and let the problem solve itself. >> rick, you're not a fan of al sharpton, what he does, are you? the point is, he's working closely with the administration on this. in fact, those are the where the protest martials are drawn from. >> no i'm not a fan of al sharpton, i think we all know. but i got to respond to the assumptions here which are a bit troubling. number one, i don't know how we can argue the justice department has taken a side in this because we still don't know the police's version of it. >> that's the point. >> and eric holder and some others are acting as though they do know. >> no, they actually aren't
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acting that way. the reason they show up to help, i don't know why we have to feel critical. >> showing up on what side? i am on the side of -- guess what, the protesters. how many protesters are in favor of the cops, rick? >> the protesters probably aren't in favor of the cops. >> right. >> but i didn't hear the attorney general say that ever. >> he was listening to the protesters, sabrina, when i saw him in the crowd, who he was playing to was the protesters. it wasn't the cops. >> it's laden with political ideology. john is absolutely right. if there's a silver lining to the tragedy taking place in ferguson is that we're having a national conversation about the militarization of police and the lack of accountability. and that say good thing. and the last thing we need is for the department of justice come in and inflame things. let's have that conversation with agreement to improve things without eric holder to make things work.
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>> we're paying for these protests. this is taxpayer funding that's going for this. >> this is a division that's been around since 1964. rick is about that, 12 million bucks a year, 5,000 workers. the question is, will they remain neutral? it's really hard to be neutral in these very incendiary situations. we want peace in ferguson. we saw in the zimmerman case, the ministers upset about what happened with what george zimmerman did was meeting with department officials. we don't know what the officials were actually saying and did. >> by the way, rick, to support -- i'm quoting directly from the travel documents of the d.o.j. here. they say we are there to support protest deployment. to support. that means you're in favor of protest deployment, right? >> well, it does, i mean -- >> choosing sides? >> eric holder suddenly found himself being this kind of psychological counselor, instead of the attorney general which
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should be fact-based, you know, michael brown, 6'4", nearly 300 pounds facing the police. let's deal with facts. >> and what are they protesting? are they protesting the fact that they don't have school choice or a walmart in their community. >> we know what they're protesting. they're protesting the situation in ferguson from a particular angle and they're using our tax dollars to do it. coming up, is there a way to stop isis killers by attacking the source of funding? first right here, obamacare was supposed to give the economy a boost and send health premiums lower. well, get ready for a checkup that will send your heart rate higher. i'll see
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you back here. back to "forbes on fox." this is the moment where we must reform health care so we can build a new foundation for our economy to grow. >> well, that was the sales pitch but according to a new report released this week by the federal reserve, obamacare may be doing the opposite. more than 18% of businesses say they're hiring fewer workers because of the law. and fewer than 3% say it's helping. sabrina, is it better or worse? >> it's going to get worse for decades. health care is simply not effective. the national small business association came out with an analysis of its own said that
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more than a third of small businesses are putting off hiring because of obamacare. 91% say costs have gone up. they've gone up sizably from $600 per worker to $1100 per worker. >> rick, the president said it's going to help grow the economy. in fact, it's helping to slow the economy. >> yeah, i have to say, it won't surprise you, i didn't have quite the interpretation of the same report you might have. i was surprised at the huge numbers at no impasse, 85 to 70%. it's odds with improvement over the last quarter when they did the same kind of a survey, finally -- >> hold on. let me just jump in there. it was a net loss of jobs, 18% of those surveyed said they were hiring fewer workers. that's a net loss of jobs. >> so what, a slower economy? >> it's still a net loss of
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jobs. fewer jobs. >> it means 18% said they hired fewer. how do you know that the other 80% didn't hire more. >> because they said they didn't. no, no, rich, the point is, this is to rich karlgaard. only 3% said they're hiring more than. 78%, no change. there's a 15% loss of jobs. that's clear. >> and it shows up in unemployment rates which are in the mid6s. and the underemployment which is even worse because a lot of people are working 28 hours a week or less because so that they don't -- don't burden their employers with obamacare costs. and this is holding back the economy, for generally small business. small business has just not really shown up in this economic recovery which is now five years and two months old. >> and they're the ones that are
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hurt the most by these changes. john, there are costs as well rich alluded to. and we've got specifics on that. the costs going up to the workers themselves. the premiums, according to these surveys. this is by the federal reserve. they know what they're doing. they're not partisan, 80% of those say the premiums are going up. 91% said deductibles are going up. and 64% said that co-pays are going up. so they all agree that the cost of obama care are really putting a penalty on the workers. >> well, of course it is. let's remember, labor is a cost. so if you raised the cost of hiring workers, you're going to some degree get less of it. also, obamacare is focused on lowering the cost of health care. that means the government is involving itself into the pricing mechanism. when it does that, it blunts price signal and it leads to higher costs for health care. is this obviously going to fail. it's going to hurt the economy.
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the good news obamacare is dying of its myriad of contradictions. in a few years we're not going to see it. >> in the meantime is obama care helping or hurting complete. >> i'm not a fan. i do agree with sabrina that things are going to get worse. cutting back workers. we already have businesses saying we just have to pay the penalty. this is what you're jacking up the premiums on their own. >> you don't think it's going to get worse. once a year, prior to the passage of obamacare where my health care costs didn't go up. this was happening long before we ever heard of obamacare. >> but the promise was that the
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cost would go down, we would decrease the prices. 88% said they would increase the cost. >> with the lack of productivity, businesses and or small businesses are not spending an average of $1300 a month. on the administrative side of dealing with obamacare. this is a tremendous loss for productivity. that will have big impact on the economy. >> and, rich, since the workers are spending more on health care, they're going to be spending less on buying tough for the economy, right? >> yeah, it hurts capital equipment purchases. they feel really out of control for washington. >> all right. that's got to be it. >> that cheeseburger you're
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about to eat for lunch, guess what, it's causing global warming. it could have you paying even more green for peace. you know what i love america? fine barbecue, good times and zero heart burn. and that's why i take prilosec otc each morning for my frequent heart burn because it gives me zero heart burn. prilosec otc the number one dr. recomended frequent heart burn medicine for nine straight years. you can beat zero herat burn prilosec otc one pill each morning 24hrs, zero heart burn
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(text message alert sound) tricia is having a sleepover tonight can i go? i wonder about lucy's friends what should i say? i know you're only ten but one of these days a friend will offer you a drink and alcohol at your age can lead to so many things none of them good. so can i go to the sleepover? lucy, i want you to promise me something - i finished my homework (laugh) bigger promise if there's any drinking i want you to say,
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well, meat lovers will have a real beef with this. global warming is attacking the industry. they say we should jack up beef prices even more to force
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americans from hamburgers to tofu burgers. e-mac, are you ready to give them up? >> here's what you do, you tax the fat marbled through government said in. you have the central bank who won't be ignored and then you do a cap on all of that. >> and the chinese aren't doing anything about global warming. i'm not going to give up my hamburger are you? >> you can make more money taxing the sheep. there's a way to do this. you know, it is possibly -- i'm careful to say it's true. but there does seem to be evidence that the methane gas is a problem. you know what, you can probably go a long way to solve what you're feeding the cattle. >> john, by the way, this movie that advocates this and global
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warming alarmists it comes just as the scientists say we're in a long period of global cooling. there's a pause. at least a one decade cause. they're not going to take away my burger, are they? >> no, no way. why chase a problem that doesn't exist. what's funny about this, global warming is missing most of them live on the coast. yet, they still live there. they're admit wting we don't ha a problem. why should we quit hamburgers to that anyway? >> edward, they totally ignore the fact that 1 million people rely on jobs in the beef industry? >> you have to admit that beef is subsidized heavily through water subsidies. in the free market, the price of beef would go up. >> well, by the way, bill, they have already gone up, the beef prices. about 12% in the past year.
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>> yeah, if people are still buying beef. and if you're going to tax something to save the environment, please make that tax simple. do not put a tax on beef. do not put a special tax on pancakes with bacon. and third tax on frappuccinos. you should just tax carbon and make it simple. >> e-mac, by the way, the australians just got rid of it. it screwed up the country so much it ended the government as reign in that country. we don't want to go that direction do we? >> no. >> you're going to be in trouble if you take away e-mac's hamburger. >> i don't eat meat, by the way. >> or my hamburger. 36% of americans have not set aside a dime for their retirement nest egg, but that is about to change. our informers have the9m
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we're back with the thoughts to help build up your nest egg. >> the mutual fund, under named. blue chip play and also volatile. >> bill, do you like it? >> first class outfit but it's getting so big it's beginning to look like a plain old index. >> you like eggs. an egg producer you that like.
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>> 31 million. >> what are you thinking, mac? >> a great acquisition, watch out for this one. like it. >> that's it for "forbes on fox." have a wonderful weekend, eveve. keep it right here. the number one business block continues with eric bolling. scenes from ferguson, missouri, the past two weeks. the town has been under siege. when the sun goes down, protesters give way to rioting and looting. windows shot out after the owner of this store feared for his safety. race is playing a big role in the events that are dividing the community. thugs seizing the opportunity. but high-profile americans like kareem abdul-jabbar cite economic opportunity. black unemployment in the area

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