tv Bulls and Bears FOX Business August 31, 2014 8:00am-8:31am EDT
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frequent heart burn medicine for nine straight years. you can beat zero herat burn prilosec otc one pill each morning 24hrs, zero heart burn track your pet. and it is also national bacon da day. >> have a great day. lillegals among the protesters at the white house this week demanding an end to deportation. president obama apparently hearing them loud and clear with reports out saying that he is looking to giving amnesty to millions of illegals by giving work permits to millions of illegals, but will it take millions of jobs a wway from th legal americans? hi, everyone. i'm brenda buttner and this is "bulls and bears" and gary b. smith, and tracy byrnes and jonas max ferris and chuck rocha. okay.
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tracy, would amnesty for millions of illegals amnesty put more legal americans out of work this is. >> well, look, i can't believe this, but most of the people are on visas that are expired and should go back, and that is overstay, but we are not attacking that order, and for them to come out here to get jobs that legal americans are garner i garnering for hurts the system overal >> and john, a tough market for a very long time. what do you think that it would do to that labor market? >> well, yeah. i disagree slightly with tracy, because i don't believe it is going to hurt the job market that much, because most of the illegals here are working in some capacity and a work permit is not going to upgrade their status to sudden ly take americn jobs and if it did, competition is what it is, and come e pe pe
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stigs a good thing. i really believe that president obama does this. the second-termt president for the last 80 years have accomplished very little, and this president realizes that pretty much his presidency is over. i think that is why he is working on the handicap more than the leading the country, and he is doing something like this to create a legacy issue that he does, and that is the main reason behind it. >> and gary b, what do you think? is this taking jobs from americans? >> well, i think it would, brenda. a lot of people are under the perception that there's a lot of jobs out there that the immigrants have that americans wouldn't want to do. i was unthe der that perception to be quite honest with you, until i looked up the facts, and there is no job out there, even if it is a maintenance worker or taxi cab driver or the janitors or the jobs s that you think i majority immigrant, but in every one of the jobs, they were held
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by native born americans, so if you throw in the 5 million illegal immigrants, those are normally the kind of people paid the very least, and sometimes very often below minimum wage. so simple economics has to say that if you have 5 million more people competing for the same jobs, they are going to throw out of the jobs the slightly higher-paid native born americans, and that is the way it is going to be unless john is right, and every one of the illegal people getting ready to be deported has a job, i think thathe economics has to say it is going to impact the american worker. >> well, except, jonas, if they start to pay taxes. >> yeah, i see it in some -- yes, there is some disruption to the lower end jobs, but isn't this a boon to the people already competing with these illegal immigrants who are getting a tax break essentially? the employers can hire a illegal immigrant, and not supposed to, but they are not paying the
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income can taxes or payroll taxes and paying letsz and nif make them sort of legal with the status, then they have to start paying the taxes. so if you ab job and somebody was undercutting you with a tax break, i would not want somebody going after my job that doesn't have to pay taxes, because that is absurd. and it would help in some instance, andt it is not like million are coming in overnight to get a job. so is some of them were working, so it is not that bad to john's point. >> and tracy? >> illegal is illegal is illegal. it is not fair to do it to our own people, and the whole under table cash should not be happening in the first place, and so maybe we should nip it in the bud. we have americans in the country who need theseb jobs, and we should take care of this, and not to mention what it does to the social services and the health care and all of that stuff, but if you think that all of the illegals are working
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right now, i think that you are all bananas on a saturday morning. >> chuck, you were out there at the white house protest iing, w? >> well, i want to bring light to tissue backed by chamber of commerce and the religious groups and labor unions and nothing happens in this town without that type of coalition, and the chamber of commerce would not be behind this if it is not done before. i am e remind ed that i was do under president reagan, and i was talking to the orange county superintendent who i said, how did you do itt? and he said i was illegal baby and i came here under reagan and i have four children at the university of california, and so all of these people are paying taxes, paying for my social security and your social security, and we don't have to wonder what is going to happen, but it has happened before. >> chuck is right, but he misses one point. of course, the business is for it, because they have a greater
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pool to choose from to fill the maintenance worker jobs and janitors and stuff, but who is representing the non-unionized wo worker out there? and the non-unionized taxi cab wo worker born here in the united states and done it legally and now finds out they have to compete with five other guys who are may be paid less than me, and i may be thrown out of a job. that is the issue. >> and john, this is assuming that everybody coming in or everybody here has ab job at this time. >> yeah, it assumes that, and i'm sure that not everybody has a job, but the reason they are here is because they are looking for work. most of them do. i look there are not numbers that are good on these, because they are undocumented workers and i idhñc disagree with chuck one thing, but chuck, i hate to tell you this, but nothing happens on that town. all of the buffoons are on vacation, but the one thing i agree with you, chuck, what the heck are we going to do? we have 5 million people here illeg illegally? what do you do?
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give them permits and get in line to be a citizen and start paying taxes. we have a massive problem of the people in the country who have allegiance somewhere else, because we have made them live in the shadows because the congress cannot get along with each other and pass a immigration reform. >> but john, isn't that backwards and shouldn't we be securing the borders2g& and th grant the amnesty? >> well, tracy, that is the separate issue. every president since reagan has said it and no president has done it. and every president since reagan has said that you have the deal with the people here, and you can't ship them all back and you have to do something with them here. >> and john, aren't most of the people going to be paid so low they are going to be taking more from the american system than giving back? don't we have that dynamic right now that the people at the lower income scale take more in government benefits than they pay in? >> well, gary, they are not already paying tax, and they are
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in the system. i grew up with illegals working on a ranch in texas, and l them out of the the system so they can at least start contributing. >> yes, first of all, don't forget that some of the talk is about the high-end labor and it is not all leaf blowers and stuff stuff, and you have people in the tech industry who want more people in high pays and it is not great if you are a working person and i don't want to overstate the benefit fs to the working place, because it is disproportionately going to help businesses, but some businesses will go out abroad to find the workers who will do the tech work, so you can lose the employer as well, because they want to have the lower wages a a part of the economy. >> so you think that the lot of h perce out there who are going to go do a tech job at google? i question that, jonas. >> well, they can't bring as many employees as they want. they are not coming in from the
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border of mexico, but other places like russia and other eastern countries there. >> and that is what the president is look g a ing at a. in any case that has to be the last word. thank you, guys. five major u.s. banks falling victim to a massive cyber attack reportedly by the russian hackers. is your bank account at risk? more on that at the bottom of the hour. up hered36z÷ first -- isis terrs taking to twitter and youtube to taunt americans to spread their deadly message. should social media companies be ♪ [ dog barks ] ♪ [ male announcer ] imagine the cars we drive...
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i'm kelly wright, and we go back now to "bulls baend bears." u.s. officials on guard for isis attack over here as great britain raises its terror alert over there. all while isis militants keep using social media to spread their deadly message everywhere. john, private social media companies trying to delete the accounts after they pop up, but do they need to do a better job of blocking the evil messages before they are blasted out and go viral? >> yes, they need to try to do a better job and that is tough to do, because people can change the ss words and use different
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>> and gary b., a slippery slope though? are we talking about the government or someone saying, you can't put this on youtube, but you can put this. >> exactly, brenda. i guess i disagree with john on th this. one, look, i agree that the terrorist messages out there are horrible, and filthy, but there is a lot of filthy and horrible things on the internet, facebook, and twitter. and it is not twitter's job to be the enforcer of what we have is free speech. but the other part is that we have actually seen a positive to this, because it is galvanized a good amount of the facebook and the twitter users and now you
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see #stop isis terror, and thing like that, and so it is kind of bringing people together and saying, my god, this is pure evil out there, and we have to act against this. that is the good news, and tw twitter should not get in the middle off all of that. >> well, it is a good point. and jonah, social media could be a weapon against eisis, because when they see something like the terrible beheading, they know how evil these people are. >> definitely, and this is a really tough call, and no right answer. this is the one time in my life i am not the billionaire founder of a social media company, because on the one hand, these terrorists, and look, every regime in history was built on propaganda from hitlstal a t eing , giving them the twita free ultimate propaganda machine to help them recruit, or would all of the regimes have gone down if we had seen what was going on in the gu lag with cuba
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and what fill dedel or other ho chambers. so you don't want to give them free propaganda, but it is too early -- >> and in is like, put up pictures of rape so you can see how bad it is. this is a crime scene. >> well, if we had pictures of hitler ande:j the camps, that would have had something done sooner. >> and twitter is not a corporation, and it can do whatever it wants to, because it is not a government. twitter can decide not to put up child porn and they can decide that isis should go, and they are using it as a recruiting tool here in the united states of america, and they can put up key words to block anybody who posts stuff like this, and we don't want this stuff world spread and them impressioning our kids' minds here in the united states. i say block as much as you can.
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>> chuck, weigh in here, please. >> as normal with me, i have two sides of thoughts. and i have the red neck side that feels one way and the latino side. and the social media to track these you know whats right down to their computer to find out exactly where to drop a bomb on top of their head especially for what they did to the journalist. but the latino side was here two days ago protesting the president. and if the government comes in, who is to say what is and is not a terrorist, because i don't want a government telling a private corporation, a vendetta against somebody who is doing something against somebody who is going to determine who is a terr terror, but i believe we can use this to track these people down to blow their you know whats up. >> all right. cashin in, eric. what have you got coming up? >> well, hello, brenda. paying ranson for citizens held
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everything climbing. so gary b, why again are we seeing the disconnect between wall street and main street? >>5& factors, and the first is that where else are you going to go n now? the bond yields are low, and people are not going to put it in there because they are suffering through it, and the stacks are i guess the best athlete. and the second is that the fed is still not tightening, and they are talking like they might tighten, but we have cushy money. and the economy is slowly improving and chuck is going to say that is all obama's backing, but whether he is for it or against it or whatever, the economy+noçslowly performing, and there are not a lot of bulls out there. and we are climbing the wall of worry, and when people are crazy and want to put the money in the market, then we will have it. >> and tracy a number of guys are not experiencing this run-up, and haven't been in the
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market, and they are experiencing low wages and very high prices. >> absolutely. the vine has been anemic for a long time, and main street is not in the market. we have seen barely an increase over the last couple of years, so the wages are not going up, but the> and jonas, the companies are doing pretty well though? >> and that is main street? >> well, that is the feeling of the pain that you are e feeling on the barbeque this weekend is going into the pockets of some company, and we have never had a record in the stock market without record consumer prices at the same time. the two have a relationsh to them'zjdr)várp+e prices going down, it is almost a bad thing, and recession and the
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stock prices would almost always be low, and not talking about the hyperinflation of the 70s, but it is a sign to raise the prices, and have the profit margins go up, a nd raise the earnings, and eventually, we will catch up to the pocketbook to get a raise and you will be a ibl to pay and you won't notice that the prices are higher, but it is hurt fful to some people. >> and john, what do you think? >> well, i think that gary b is right, and the fed-driven market. since 2000 and what tracy is talking about is correct as well, the wages have not gone up, and president obama has continued on the same policies that have destroyed the ,+vv middle-class, and that have helped the 1%. the 1% has a very rich, but because of the low interest rate vironment, we are seeing the inflation pick up slightly, which is hurting the average consumer out, there and not the guys in the stock market, but the average american out there. >> okay. chuck, does it surprise you that main street may not be experiencing the same celebration that wall street is? >> no, i don't surprise me at all. i mean, we are is systematically
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watching the devisof the middle-class and have for the last few decades, because we have outsourced the middle-class jobs or the manufactured jobs and become a service basedñd" economy and the working folks, and the folks that the dress like me if you want to be a waiter in olive garden, that i don't have anybody speaking for them, but washington has plenty of partisan in the congress, and that partisan color is green. and what about the american who is going to have to pay more and hasn't seen a wage increase in years, and who is speak fork them? that is the basic problem with the government and has been for a long time. >> that has to be the last word, and thank you, tracy and chuck for joining us. the ebola epidemic is spreading and the virus is mutating and the name thatould stop it and keep us
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predictions. gary b, what have you got for us? >> the ebola virus is deadly and mutating. thank god for capitalism and private companies like tech mere ra at the forefront and they are going to win, tekmira. >> and i own it, but if president obama's amnesty goes through, all of the people will have a good ride of it with the stock. >> i like companies like rite aidbetter. >> jonas? >> big apple is coming out with
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a watch that is going to come with it and it means that i am going to be wearing out the nike air maxes faster than in the ar and he did not give us the nike stock. >> bullish. >> happy labor day. well, what the hackoing on? welcome, everybody. i'm neil cavuto and it is the weekend. do you know where your money is? don't ask your bank, because for the five big nest the kgest in , things got scary and i'm talking real scary. not just because jpmorgan and others were hacked or just because the russians were hacking them, but the way they were hacking them and how far they got hacking them. apparently, deep enough to delete and change bank records. i want you to think about that. think about someone getting into your bank account, maybe zeroing out your bank account, scary stuff, and it makes you
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