tv Varney Company FOX Business October 9, 2014 11:00am-1:01pm EDT
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global growth slowdown concerns behind this sell-off in stock prices. time for "varney and company". stuart: the government picks limited steps to cost of in and going through the roof. at five airport travelers from west africa will have their temperature taken and fill out a form. these tests start saturday. this may not be enough for a very anxious public. it is extremely expensive to deal with ebola patients and those suspected of carrying the virus. $130,000 to clean one apartment? millions for quarantine? hospital isolation treatment, today some airport workers at new york la guardia are on strike over cleaning plains. and the sheriff's deputy is in isolation with ebola like symptoms. in a moment dr. anthony, government point man, will defend the government's ebola policy. "varney and company" is about to
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begin. ♪ we are going to go straight at this ebola crisis. here is the director of the national institute of allergy and infectious diseases, welcome back to the program. the cost of monitoring is going through the roof. could it be said the cost is so cute judge and force a change in policy toward a travel ban? >> first of all the primary concern we all have is to keep americans safe. the additional guerra of screening that you heard about that was announced yesterday is an added factor to try to keep americans safe. when you leave one of the west african countries and go to the airport you get exit screening, temperature and questionnaire. what is happening now is five
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airports in the united states, there will be in prescreening which would again be temperature taking, determining if there are symptoms and acting accordingly, to alleviate the concerns of the american people to make sure we are doing everything we can to keep them safe. stuart: these tests at the airport don't even start until saturday and not in place now. widespread criticism that you are not in front of this, you are not moving ahead of its, you are following it. what do you say to that? >> i think that is a misinterpretation of what is going on. if you look at the fact that everyone is focused on the fact that when a single patient who has gotten into this country and developed disease, mr. duncan who unfortunately passed away
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yesterday in dallas, the contact tracing that would prevent an outbreak is ongoing and is very effective so i don't think you can say at we are behind it. there were missteps early on but the fundamental way you protect america from getting an outbreak is the isolation which was done in little bit late, it was done with mr. duncan and the contact tracing which is going on right now. none of us feels there will be an outbreak because we have the health care system which can handle ebola as it has with mr. duncan. >> at vast cost. $130 to clean his apartment, millions for hospitalization, quarantine, monitoring and all the rest of it that goes into one patient. wouldn't it be better to have a flat out travel ban? you can't come here if you have been there. that would presumably cut the number of cases coming to america and therefore get a
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handle on the spiraling costs. >> first of all there are a couple good points you bring up. a single patient got through over the many months since march the we have been dealing with this epidemic so that needs to be taken into consideration. there's not a flood of infected patients coming in. one single patient, that is one too many to be absolutely certain. to your point about complete isolation of the west african countries and travel ban, it is understandable why people might bring that up as a possibility but the analysis by health officials including myself is that the negative aspects of that, namely the isolation of a country which would likely lead to making matters much worse in those countries and perhaps even spread to other west african countries is going to be counterproductive to the overall effort because the best way to
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protect americans is to completely suppressed the epidemic in west africa. then you won't have anything to worry about. if you do something that could paradoxically and intentionally make things worse than you are really being counterproductive and that is what all health officials feel. stuart: this morning a sheriff's deputy in dallas is hospitalized in isolation with what are described as ebola like symptoms. it is reported he went in to mr. duncan's apartment without a hazmat suit or precautions being taken. how could that happen? >> first of all that is a very low risk. we do not know if this person has ebola so before people jump to conclusions you want to make sure we find out what is going on with this person. it is likely the person does not have ebola. we can't pass judgment. the person did not have direct contact with any of the ways you
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can actually transmit it, bodily fluid, blood, vomit, diarrhea. he did not coming to contact with that. would you are seeing in dallas with isolation is an abundance of caution to make sure if in fact he is he is properly isolated is the system that is working with that individual. stuart: dr. this abundance of caution is incredibly expensive. heaven knows what the cost of isolating this sheriff's deputy in dallas is. that could be duplicated thousands of times over when somebody is suspected of being in contact with material which could pass along ebola. the public is spooked and if you get thousands of cases like this and will overload the medical system and sternly overload the cost structure. >> first of all you won't get thousands. look at though reality. i understand how people can be concerned but you want to make sure you understand things that are evidence based. there has been a single, one
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patient since the outbreak was recognized in march of this year. one patient. i could understand concern but why do you make the jump to thousands of patients? that is not going to happen. stuart: i make the jump because of the costs. i am not suggesting that ebola is spreading into america. i am suggesting suspicion of is spreading and the cost associated with anxiety is astronomical and my point would be are we reaching the point where the cost is so high that it starts to drive policy? >> i don't think so. you are not going to have people in isolation with contaminated wastes unless someone is infected with ebola. if you look at the screening mechanisms a person who comes in who has a fever is monitored in a way that isn't overly expensive. most of the time the monitoring is in someone's home, taking the
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temperature twice a day. monitoring someone with a temperature twice a day is not an overly expensive phenomena in. stuart: we appreciate you being on today, difficult job you got, appreciate you being with us. to the markets, where are we? this market really is a roller coaster. down 270, up 27, down 120. with the s&p 500 exactly the same story up and down in the last few days big time, 13 points lower at the moment. as for the price of oil that is a roller coaster, it has gone straight down. the first two numbers on oil are $86 a barrel and because of that the price of gas continues to fall. national average for regular is down $3.25 per gallon. missouri still a state with the lowest average, $2.97 for regular, the only state below $3 but we are all paying less. another market that is being
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moved big-time is the ten year treasury market. what you are seeing is a huge flight to safety. incomes money to the treasury, up goes the price, down goes the yield, 232. that is near historic lows. look who is back, charles payne is with us. down 200, down 220 points. most people in our audience say it is october. why don't i just sell a lot. sleep soundly. why not? charles: that is not bad as long as you have the wherewithal to buy a dip. i am not going to buy yet. they tell me the same thing. when we start the dip, people
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don't have the guts. october has the distinction because of the top ten biggest one day losses in october. they have been absolutely mind-boggling for the stock market. amazingly great for the stock market. then look at another layer. i did a lot of work this week that i will talk about tonight. in the past has been amazing for the stock market. stuart: 1994. charles: back to truman, eisenhower, it has been amazing and the clinton years were phenomenal. there are some things. if you have a great quality stocks i would hold on to it. my subscribers are 20% cash or should be. i would like to buy weakness and there is disappointmen about oi crushed in amazing companies like natural gas companies based in north dakota, texas.
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that is disheartening. we like cheap gas but there's a point where it is a red flag. stuart: bottom line watch out for november and december because that could be really good and watch out for the november elections if the senator goes to republicans. it could be huge. stuart: that 1-2 punch has been phenomenal. stuart: what day is it today? the ninth of october. you are on video. thanks. look at this. i got a one month chart. this is a good one. g t advance carter's with apple in the sapphire and glass business. the wall street journal reports the chief ceo sold 9,000 shares on sept. eighth, the day before apple's iphone 6 announcement but tim cook made no mention of the sapphire at display. at the event down wednesday to advance by 13% so the boss sold before the bad news hit. he made big money. they file for bankruptcy. what is going on here? charles: you smell a rat.
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this whole thing smells of a rat. it is scary and discarding. apple yesterday said they had no idea of the company would file for bankruptcy. they couldn't see how this happened and they are working because they made a major investment to make sure people keep their jobs in arizona. hy said on tuesday it will drain the ranks and it has. if you bought it monday to close you make 60% the next day. you have a range between $0.80, and $2 which will trade like fannie mae and freddie mac and general motors in the bankruptcy era but there is a slim chance people will hold stock will get shares of the new stock, very slim chance. stuart: a lot of people out there will trade for 10 minutes. charles: if you have the wherewithal go for it. 90% i would venture to say 95% of the audience does not have that wherewithal. stuart: this audience? charles: they are more conservative, smart long-term buy and hold people, they're not trying to pick penneys i don't
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think. stuart: let us know. listen to this. new polls out show to charles's point about the market after a republican sweep. these polls show republicans are close to taking the senate. the lead in five of the six races which are key races where they are looking for a majority in the senate. monica crowley on that after the break. first i got to tell you about a special guests coming up at the noon hour, golf legend greg norman will be on the set at 12:35. he is recovering after the chain saw accident on his hands. can you imagine anything worse for a golfer? the man will be right here.
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carl icahn says the stock at apple will double. charles: using traditional valuation metrics like your p-e ratios, it is extraordinarily undervalued. and i don't know what wall street investors can expect from this number. it has a point there. this is the carl icahn shake down sort of thing. i know these activist guys are hot and making money hand over fist and people on their coattails to make money too, not sure everything is longer-term. bringing out great products the stock will go where it is supposed to go. stuart: what will they do with $150 billion in cash? charles: to buy back stock, to make some acquisitions. flat sales at the gap.
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>> the stock is to the downside. surrounding the gap. $37.04 a share, sales at the gap, global numbers, the global sales story, down 3%. old navy up 1%. it is up 2%. the global picture, disappointed wall street. the other story that was late yesterday, in 2007. and you will be have stepping in as part of the digital team. stuart: still down triple digits on the dow. listen to this. new fox pulls so the gop senate candidates leading in five of the key battleground states, a pickup of six seats is needed for control of the senate.
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if republicans gain a majority what will they do with it? monica crowley is here. i have my say first. i think that energy, boost energy production domestically is doable, lower corporate tax rates is doable, both of those items would raise the economy. give it a nice boost. don't tell me republican senate would chase down impeachment and investigating various people and waste their time like that. >> they will not. i can reassure you that your line of thinking is along the lines of a possible senate majority for the republicans would in fact do. announcing they will pursue investigations like the irs by harry reid in control, are legitimate but impeachment, that is not going anywhere. if they pick up the majority what they will do is get the president on the record on a whole host of issues including
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what you mentioned, energy, fracking and the keystone pipeline. out of the house and the senate get to the president's does, they can veto it, get him on the record. and obamacare. and through the senate, and the president's desk and force him to say yes or no. in 2016, when hillary clinton or whoever the democratic presidential nominee is, do you agree with the president in vetoing of the keystone pipeline? do you agree with the president of your party who vetoed tax reform to get the economy going? they agree with him on vetoing these job creation bills for the republican congress? stuart: he could have vetoed a lot. if you get 5 or 6 major bills on
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his desk dealing with energy, corporate taxes, obamacare, you veto every single one of them and you become the president of note. melissa: and switched gears, democrats have success in taking the republicans at least early on as the party of no. they were the party of stop, not the party of no. than this president has to double down on his efforts to defend himself against all of these job creating prosperity creating bills the republicans have passed. there are 300 bills passed out of the republican house that harry reid has killed, sat on in the senate. you get a change of control and the republicans have control over the senate those bills go to him and he has to answer for all of them. stuart: hold on the second. jason materra confronting lois lerner as she was walking the dog. he defended himself on this program did his conversation backfire and make her look
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in the one i always think alcoa used to be a door stopper stock, never went anywhere. it went from 8 to 12 and now i'd has gone to 15. it may begin your money from the all knowing analysts were expecting. shares were up earlier, now they are down a little bit with 15 on alcoa. check the share price of ruby tuesday, casual dining chain and it made a profit after five quarters of losses. it is up $1, 18%. let's go to the confrontation between jason materra and lois lerner, on tape. >> you don't feel bad you were using the government as a weapon to try to crush political dissent? anything? >> could you call the police please? could you call the police? thank you. >> you don't like being targeted. doesn't feel good. doesn't feel good.
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you targeted conservatives. not even an apology. stuart: the young man you saw in the clinton did that video, he pursued lois lerner and appeared on this program yesterday and here's what he said what i suggested he was out of line, at ambush journalism. >> any journalism, want to ask the questions that they should be asking because it involves a clear case of public corruption. the could have easily gotten her, if she had been asked these questions over and over again since she took the fifth amendment. over two occasions allegedly one that was a pretty strong defense he gave. let's see what you had to say, you viewers were split down the middle. mark sides with jason. what he did was nothing compared to what she did to conservative groups using government as a weapon. jean disagrees. she says she needs to be investigated and held accountable but not in such a
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reckless and sleazy manner. we don't stoop that low. monica crowley, you call the irs crisis the worst scandal in american history. >> most dangerous scandal. stuart: that is correct. you are an editor at the washington times. how would you feel if one of your columnists presented an item like that, did something like that? >> jason is a good friend but i support what he did even if i didn't know him and he weren't a friend of mine. stuart: he was -- hold on. he was really aggressive on private property. he pursued her. >> wasn't aggressive anti wasn't threatening to her in any way. he was just posing questions and here's why what he did was legitimate. number one, he is correct, he wouldn't have to do this if the mainstream media did its job over the last year-and-a-half and as these questions to her and to the irs. instead they have been awol so
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is left to private citizens to get answers. the second thing is he is the taxpayer as you are, am, as charles payne is and right now she is collecting $100,000 a year in taxpayer funded pension which she will be collecting every year for the rest of her life. as a taxpayer i am demanding the dancers and of the press would ask the questions, god bless jason for asking them on behalf of all of us. stuart: we objected when a union group went on to the private property of a banker and complained about his bonuses. we objected to that because they had gone on private property. >> jason was following her trying to get some answers. this wasn't even her home. those people didn't want her. they closed the door in her face. the elderly gentleman approached at the end and said i don't want her in my house either, get out. private property i agree with
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you to that extent is something that should be sacrosanct. but this is a woman who introduced somebody else's private property into the equation by trying to barge into her neighbor's home. in needs to be held accountable and we are facing situations like this because she is refusing -- stuart: i never want to disagree with you. you have ten second secure point. was he right or was he not right? charles: i think he was right though for people who are not politically astute and don't read newspapers will feel sympathy for her. but you got to read his book, the first line of the book is fantastic and jason is on a wall right now. stuart: thank you very much. this is a theme that runs through our show. the crisis of confidence in the obama administration. two new developments for the wall street journal's dan henninger. he will join us in a moment. guys! you're not gonna believe this!
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fresh 18 month low. $86 per barrel. another big number for you. the yield on the 10-year treasury be at historically very low. early this morning a draft $2.29. that is a flight to safety. all the world is burning and slowing down you come to america to put your money that gives you a much lower yield. cabin cleaners at laguardia airport in new york demanded that are working conditions they say they don't have the equipment to keep safe on potential infections like ebola. five major airports prepare to start screening passengers from west africa this week. the don't even until saturday. jeff flock in chicago. what are they going to do there? >> they want to begin to screen passengers on saturday at jfk and for other airports or three other airports over the weekend.
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monday it starts here. take a look at what they will be using. we have a picture of a device they will be aiming at the forehead of passengers determine whether or not they have a fever. we have a picture of one that has been in use in the ivory coast right now. these are the way they're getting screened screened as they leave africa. they will be screened on the send as well at the five airports. if they in fact come up with a temperature or some other indications they had a problem, the cdc will get involved and determine whether or not they have to go to the hospital, continue with travel or what else has to happen to them. i heard you talking with anthony earlier about the cost of this. talking 150 people per day that come from west africa. there are no direct flights that come from there. they come from connecting flights.
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stuart: at chicago o'hare where you are now they don't star the screen process until monday? did you say monday? 150 people per day. you have 600 people will come through that airport who have been a less africa will not be screened, is that correct? >> will come for u.s. airports, one heard 50 all five u.s. airports that we're talking about. buy your math, 600 before they start screening on monday, correct. stuart: that is extremely late to the game at a very limited response to a crisis. jeff flock, thanks very much, indeed. we appreciate it. two new developments on the theme of the crisis of confidence in the obama administration bid the secret service prostitution scandal turns out the white house tried to cover it up and wanted it. until after the 2012 elections.
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and the 13 states canceling their health plans because they don't comply with obamacare. people in those states get notification right before the election. those two developments combivent the column in the "wall street journal." dan, the headline is killer bureaucracies. are you telling me the bureaucracy is killing people? >> killing people are coming close to killing people. there is a sense that nothing works anymore. we understand bureaucracy, big, boring, inefficient, they annoy us. if you look at what is happened recently, they have become dangerous. the ebola crisis, secret service cannot protect the president of the united states in the white house. the veterans were dying before they got into the veterans hospitals, right-click mark
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center for disease control admitted it lost track of samples of anthrax, smallpox and a deadly flu virus. i would add into that even in gaza. state department said it was awful and a bastard died, we don't know quite what happened under those circumstances and even the 9/11 commission issued a report saying the problem on 9/11 was a problem an they slipd past our intelligence bureaucracies so they have now become a clear and present danger to the health and welfare of the people of the united states. stuart: what did you expect but mark this government had made every bureaucracy we could get. what were we supposed to expect here? >> what we're seeing is a perfect storm of breakdown. they have been growing for nine years, we've always known that. they have taken a more complex tasks as they have gotten
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bigger. now living in the computer age, multitasking, it distracts people. that means that human error rate goes up. that is the department of motor vehicles it is not that big of a deal, but if it is these bureaucracies tasked with protecting the american people and their making errors that can be fatal not getting there quickly enough, then we are endangered. stuart: jeff flock, don't start this testing taking the temperature and fill out a form, they didn't start that until monday of next week, that is extraordinary. >> you have to train people to do this. take a temperature, recognize people. the last time they did this they pointed these machines that people by and large they found nobody had a temperature. public health people said that is not possible.
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you are asking them to simply take on a new task overnight. charles: a lot of people were taking tylenol just in time so when they were tested the fever was down. if somebody like thomas eric duncan wanted to come to america for treatment, there might have been ways for him to get into the system like this. they are still asking these people lots of questions they have to be honest about. somebody says i want to live in any expense you have a contaminate everybody, they will do their best to get here. stuart: is there an element in political correctness why we don't ban travel to the united states? >> there is partially, but mainly it is a political system from the white house down bureaucracy throwing back having no real good idea of how to organize themselves. they're good at doing whatever is in front of them from one day to the next and then they react
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to a crisis like this. they are terrible at planning for a protectable crisis like ebola, and now we are in the soup. stuart: thanks very much. nasa, let's not get too negative, developing a way to put astronauts into hibernation. we can take up to six months to make the trip to mars slid wants to put them in hibernation for part of the trip. we have the engineer working on that process with us next as the dow plunges 176 points. that is not good.
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we close on the house tomorrow. i want one of these opened up. because tomorow we go live... it's a day full of promise. and often, that day arrives by train. big day today? even bigger one tomorrow. when csx trains move forward, so does the rest of the economy. csx. how tomorrow moves. nicole: if you feel like the market has been little wild lately, you are absolutely right. for test in a row the market is moving 100 points or more. right now down 182 points at 16,809. s&p 500 down 1% and the nasdaq composite down more than three quarters of 1%. some include energy stocks such as chevron and exxon. as we are seeing oil at new the recent lows and goldman,
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caterpillar and walt disney round out the bottom five. ebola, watching some of the drug stocks to the downside today. and maybe hazmat suits to prevent ebola. we should note these are very small cap stocks. last but not least, pepsi hitting a new high didn't very well. we enable you to reach global markets and drive forward with broader possibilities. cme group: how the world advances.
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stuart: lego ending a decades long sponsorship agreement with shell. greenpeace put pressure on the toymaker, he have to them. greenpeace is not happy with shells plan to expand arctic drilling. greenpeace released this video showing oil spilling over lego landscape. six my people look at it on youtube. lego initially said it had no plans to drop shell. they changed their tune today, they dropped shell. scientist have figured a way to make a trip to mars dramatically cheaper, but the astronauts comt the astronauts too cheap. there is a president of space works enterprises. first of all you are the guy in charge of this putting them to sleep, how do you do it and for how long do you put them to sleep?
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>> currently we are leveraging technology from the medical community recently emerging. they have demonstrated that, is to the use three to four days, there are cases up to 14 days and for mars relay to get it 180 days. stuart: do you give them drugs, hypnotize them? give them an intravenous drip or something? how do you put them to sleep for weeks at a time? >> really just have to call the by down five to 10 degrees is all it takes. a rapid reduction in the metabolism. foods you need, oxygen you breathe will drop, those requirements come down, your body will going to some sort of an induced coma state. some trace drugs we would provide that suppress, your body
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will shiver when it gets cold, wake itself backup, warm itself backup so we suppress that reflects and basically you would remain in that state until you are warmed backup. have human beings been subjected to this? >> yes, they have. there are multiple cases of this going on the peter lee, it is proven very effective in dramatic brain injuries, cardiac arrest victims and things, base we give the body time to repair itself after some sort of dramatic event. now we want to adapt that technology for spaceflight. stuart: how come it is cheaper? >> with that basically we're going to mobilize the crew going to mars, put in a very small
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space s silly habitat, all the requirements, the food requirements are reduced, oxygen consumption is down so we can make a much smaller spacecraft and consequently the launch vehicles and the systems we need to support that are much smaller. significant savings, complexity for the mission reduced and ultimately that relates to cost. stuart: i think that is terrific. you can ask lance more of this at a later date because we want to hear about this. here's what we have got just crossing the wires right now. he has made some comments, he says bureaucracy and burdensome taxes are hurting global economic growth. music to our ears, charles. saying the right thing. he has been doing a lot. everybody says europe is three
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years behind america. he has been saying to the european government get your act together, stop with the welfare already. it is a tug-of-war. he has not blanked the degree people thought he would. he does speak his mind and i like what he is saying. stuart: how long would take the french? >> more socialism, not less. liz: carl icahn sending a letter to tim cook sang the iphone 6 is it a winner and will dominate the smartphone market. should we read between the lines of this letter? something in there, maybe. charlie gasparino will report next. of beats ] i wish... please, please, please, please, please. [ male announcer ] the wish we wish above all...is health.
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stuart: there is a general level of anxiety about the state of the economy, where interest rates are headed, general anxiety and down she goes. on this market there is a roller coaster down, up, down. i want to go back to the letter from carl icahn he sent to apple, tim cook. charlie gasparino is here.
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you read between the lines and i will say it for you, with all this cash carl icahn telling apple to get out and make acquisitions? >> do something to enhance shareholder value. apple kind of like this letter. nice thing about tim cook, the ceo. in the vacuum of information last night what might be in this letter. one of my possibilities because this has always been out there that place with use cash to buy netflix which would probably be a creative the value, i would think. so that would be an amazing deal for apple. carl didn't go that far. said put some cash in my pocket.
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give me some money, buy some more stocks back. he implied if you don't do it, i will be talking to him later, this is wall street versus silicon valley. he is kicking their rear end. he made ebay spinoff paypal. stuart: coming up next, more on the ebola crisis. and they are not prepared for all of this. he is here in the studio coming up. and so is greg norman recovering from a chainsaw accident. will he play golf again? yes, he will. a big second hour starts in two minutes.
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stuart: there is a chronic lack of trust in government, so how does the government convince a skeptical public it can deal with ebola in america? so far response has been slow and limited. it is monday in chicago, and the test but not have cap thomas duncan out of the country. because of dealing with the virus already seems totally out of control. millions of dollars per patient, $130,000 to clean one apartment? perhaps were entering a new phase where cost drives policy. if you can't afford to treat it when it gets here, stop it from getting here. impose a travel ban. last hour we spoke to doctor for the national institute of allergies and infectious disease, he says there is no reason to panic.
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roll tape. >> a single one patient since the outbreak was recognized in march of this year, i can understand concern, but why do you make the jump to thousands of patients, that is not going to happen. stuart: not everybody agrees with his point of view. and microbiologist, emergency traveler physician or that biohazard sui suits to protest e handling of ebola. and you have made the point very dramatically that we should be concerned about it coming to america. our point is the rising cost of treating even one patient is driving policy, driving us toward a travel ban. you are in fact helping to drive that cost up because your rating level of anxiety.
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>> sir, a million people on the continent of africa are quarantined right now. 10,000 people are flying out on a daily basis on 35 nonstops around the world and you think he is the only one taking this in? we missed this diagnosis in dallas because our guard was down. but when it gets to guatemala, mexico, they will not fly in equipment and people as they did in dallas, it will consume every third world country and having marty large one to the south. the doors are wide open. stuart: do you think we did have a flat out travel ban? >> absolutely. use the military. stuart: you want to fly in equipment, get it to west africa and then not let people out? not let people to come to america? >> yes, sir. the numbers will be climbing where this is just eroding.
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they have a deplorable health care system. stuart: cost is a dealbreaker here. $130,000 to clean one apartment, millions for each patient who has to going to full-scale hospital isolation, all the people they of contact. do you agree it is cost rising exponentially that is going to drive our policy? >> absolutely. mr. duncan took one hour to overload the texas county health department. there are hundreds of thousands of people, and that is just one case. when it consumes every third country. stuart: you are assuming it is going to happen without being able to say. >> distrust of the country, shot to hell as a result.
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stuart: there has only been one confirmed case of ebola coming to america. no, people coming here, it comes out of them here, only one case. it is only one case. >> this is growing exponentially. stuart: only one person so far has proven to have ebola, that is a very low number. >> it is going to consume every third world country on the planet. they will come nonstop. we have a wide open sir. stuart: the military flies in equipment and deals with it, nobody gets to america from infected areas. >> the must protect the hospitals and the personnel. the must have fever centers where we don't lose the infrastructure.
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it must be separate from the hospitals. stuart: we appreciate it. what have we got here? i want you to check the big board because we keep on falling, now we are down hundred 23 points again it is a roller coaster, there is no way around it be had we went down two, yesterday up 200, now we are down 200. as the s&p 500, the dow down one and a quarter percent, since her with the s&p down one and a quarter 10-year treasury yield at 2.31%, that is a yield. we were under 2.3% earlier today. not a record low, but getting close. still on the market, john layfield is here to sunny new york. you have to tell the viewers how to invest here. >> you're starting to see it, germany has driven the eu and
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germany started to falter a little bit. china starting to falter little bit and you are not seeing growth in the united states likely would like to have. still a low labor force the dissipation rate. stuart: angst over oversea overseaseasing interest rates low. >> just enough bad news where it is good news the market. the feds this will keep interest rate low foot rebounds on that. try to find that balancing act because there is so much political intervention with our government and others around the country. stuart: isn't there a temptation to say this is a rough month for us, i am out? >> i've gotten killed in oil companies. i have also done well in under
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armour, go pro. everybody says it is a stock pickers market. ithis always a stock picker market. if you do that i think you will be okay. i will sell you on what charles payne good segment, people always say they're going to buy on the tip. they never buy on the dip. you're going to be okay. stuart: let me ask about oil. $86 per barrel. you're not a a forecaster. >> i did not think we would go to 86. the sanctions iran putting extra oil on the market. not seeing oil in northern iraq right now, so much domestic production, online. adding to that a global slowdown could test the $80 per barrel. stuart: if they set off a fracking boom, think, we produce there.
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>> every thought gambling was the next thing for tax revenue. you will see that across the country with fracking taking over because people realized how much tax revenue it will bring in. stuart: carl icahn pens a letter to chief tim cook saying prices are half-price. where is apple stock right now? nicole: the stock is up about 1%, not quite to the all-time high. carl icahn his team do the math, the stock is really undervalued thinking apple stock should trade at $203. in addition to that they give ge out forecast going forward three successful years ahead. 30%, the growth is looking great, in addition to the fact the new apple watch will be a real winner and have significant impact on apple's growth as well. overall they think great growth for apple and also wanted to
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extend the repurchase program even further. more buyback is what he is screaming for. thank you for doing what you've done so far. stuart: he is hawking his own book and everybody knows it. like applet $101 per share bid >> i think i do. is he people like carl icahn, put out a tweet increasing net worth of $100 million, so i thought it might did a little bit on the little falter they had with ios 8. this is in great company. i think at $100 is probably pretty good buy. i was out of got in at $50 thought it might have been overvalued. stuart: a house full of daughters, many years ago my two youngest daughters said why don't you by apple? i said i think it is a little expensive at $57 a share. >> i have been waiting for a dip
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on this thing forever. i can think it would go down about 90, and it never did, it looks like it probably won't. stuart: you know what i did and incident picking apple? i bought microsoft. thank you very much. his what we have for you the rest of the hour. golf legend greg norman recovering after nearly hurt his hand with a chainsaw, don't you how badly be at he will be here in the studio with us talking all things golf. does a man like him still play golf? more proof money is in technology. the most expensive zip code in the country with highest price houses are where else but silicon valley. the home price just under $10 million. also, huge car auction in hershey's, pennsylvania. we will take you there live. and after this forthcoming break, a question for harvard
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stuart: look at this, down some more, 250 points lower, about the session low down 1.5%. going down as of right now. isis is not the biggest threat to world peace. you'd be surprised to know what harvard students say as actualls the biggest threat. roll tape. >> what is a greater threat to world peace? america or isis? >> i think american imperialism and oil interests. >> we are to blame for a lot of the problems we have now. >> in many ways a heavy think it is america because america's making decisions much more likely to affect the world. stuart: with us now, young america foundation spokesperson. i think that is bogus, quite
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frankly. i don't do how many interviews they conducted, i don't know how they edited it. they picked out the opinions which conform to what they want to show. it is totally bogus, would you agree with that? >> i actually don't. i often agree with you, but i had done one of these videos on september 11. i went to george washington university and that was one of the things brought up by criti critics. typically when you do these on camera interviews they let you do it, which is sad because many of them would say wait a minute, i don't know what these questions are or preface it by saying we will be asking current events questions but sadly this is something happening on college campus in ivy league schools. you have teachers and professors and documenting the leftist
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propaganda. stuart: is it really that prevalent? i live in new york city, if i went to colombia campus and i walked around, you think the majority of students i met would say america is a bigger threat to the world than isis? i am a cynic about the elites, i really am, but i cannot believe it is that bad. >> if you look at the millennial generation we have talked about times on the show, it is a thing where we are a culture that i don't know what it is, we get our news from twitter, any kind of gossip rag yet you could listen to how eloquent they could speak about these topics. one girl said they were talking just the other day about how america spends so much money on trying to defeat other countries. things like this are being taught in the classroom, it is important when we look at the
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college campus, we look at what is being taught by the professors in the classroom. after 9/11 professors blamed america for the attack and this is something that will be detrimental if we don't get more conservative speakers on the campuses. more often than not look at commencement speakers. stuart: i am skeptical they are that far to the left. he is getting a lot of criticism because he chased down lois lerner, cornered her, first of all listen to what greg had to say about the tactics. >> these days with distractions upon distractions and the left wing through celebrity symbolism, it is not enough for you to be right. you must be persuasively right. here's what doesn't help, chasing lois lerner down the street making a least sympathetic bureaucrat on the planet look sympathetic.
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at even made me feel bad and i cannot stand her. stuart: his point of view is shared by lots of our viewers. too hard, too aggressive and generated sympathy for lois lerner. so does your generation approve of this kind of ambush journalism? >> where is the american taxpayer with our privacy was invaded? 60% of young people are very wary in their daily lives. that is important to note. lois lerner went out of her way to target americans an who had conservative beliefs, that is something that should be definitely at one point said to the american people i am sorry, i apologize for what i have done for using my role to target you come to come after you but yet
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this is what conservatives have to do in order to expose the truth. only did one exclusive interview and yet has not apologized to the american people for what she has done. still collecting attention from the taxpayers. a very cozy pension for digging into our personal lives and millennial did not like privacy invasion. stuart: thank you for joining us, appreciate it. back to the break in his be brought to hour. and put up the big board, down 278 points, another leg down for the stock market, 1.6% drop. here is the news. europe top bank made some comments, burdensome taxes are hurting europe and global economic growth. that ha is music to my ears. let's bring in rich edson.
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talking with printing a lot of money, isn't he? >> also asking those with the physical space to spend money here, which is why it kind of came off of script. the takes nine months or a year to get a permit, he faces burdensome taxes or some sort of tax system that makes no sense, he will not get the banking system moving or the economy moving in europe. we can do only want for printing money but if you're of doesn't make reforms necessary to make this scenario with regulations, it is not going to have the monetary policy affect. stuart: i find very interesting the top bankers criticizing bureaucracies and tax policies and welfare policies but i am not sure that had any big impact on the market. the dow took a downturn in the last hour big-time now we are
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down 266 i don't think it is related to the comments. you're not a financial analyst kind of guy, do you have any input on this? >> this is a central banker who has authority over monetary policy did asking government to get their acts together. possibly no change there. we were down 270, yesterday we went up 260, as of now we are down 260. the list is in, the zip codes with the highest priced houses in america. silicon valley technology land right up front.
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the clicks are off the charts. yeah the clicks are off the charts. yoshi, i'ts walt. we're back. yes sir! hi. [spoken in japanese] let's go! let's go! let's go! [spoken in japanese & english] i need more trucking. more shipping! more shipping! i need more trees! more trees? i'll get you more trees. hey! take a look at wood pulp. whoa. everything you got on wood pulp. right now! ♪ yeah! he really loves that thing.
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stuart: i think this is the low for the day. down 280 points. look at the interest rate, look at that, all red. every one of them in the red, all of them down. the 10-year treasury yield moved below 2.3% earlier, that is a flight to safety. the yield $2.32, still historically low. wells fargo employee e-mailed the boss the company asked for a raise for all the employees in the name of income inequality. show the rest of the united states is not the world they corporations can have a heart other than philanthropic and diverse. what is reaction from wells fargo? >> they haven't fared him yet.
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he works the loan collections department at wells fargo. he goes through customer review, all of that. he wrote this e-mail to the ceo of wells fargo demanding $10,000 race for all of the employees. here is the thing, wells fargo paid a big difference between where he worked a bank for the average salary $57,000. it is higher than the medium income in the u.s., right? think a lot of his coworkers think he is a hero right now. stuart: but that is not how we do it in america, is it? >> he made $13 per hour, now hes paid $15 per hour. ithat is a 15% increase. the ceo risley took a pay cut, now he makes $90 million.
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that is a 35% increase, so that parallels the picture and this is what the e-mail was all about, the rich get richer and everybody else stays the same or starts moving down the ranks. stuart: thank you very much, indeed. forbes ranks most valuable zip codes. you won't believe where four of them are. but number five, where are we? >> 10075, upper east side of manhattan. actively listed homes right now $5.36 million is the average median price for sale on the east side. also in new york city, also the upper east side, this is fifth avenue off of central park, $5.9 million is the average for sale listing right now in that area and inventory is incredibly
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tight. number three is also in new york city. also parts of chinatown, believe it or not. it is because of all of those places with the hollywood actors. stuart: number two. >> the hamptons. this is really southhampton if you know the area. 6.4 million is the average listing price. stuart: number one. >> we're looking at california for second year in a row. this is silicon valley money. 21.98 million, these expensive 1.49 million. that is the cheapest home for sale, $1.499 million the average
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overall, apple, facebook, google all in that section of california, so you got it. stuart: i would bet serious money rates now all five of those zip codes voted heavily for the left. >> number 90 was also in manhattan. it is the upper west side, i will say this, for the 2008 2008 election that zip code in manhattan gave the most dollars to barack obama when he ran for president in 2008, a very politically active neighborhood and mr. obama likes to come and fund raise in our neighborhood, right? >> there is a lady in my neighborhood he won't talk to me because i work at fox. stuart: it just shows you
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stuart: latest developments on ebola. the government in hand screening measures start saturday at four airports, may start monday in chicago. temperatures will be taken. people entering from the hot zone will be questioned. new york's la guardia airport going on strike, the and not equipped to handle hazardous materials like bodily fluids. la guardia is not one of the airports where the screenings will take place. a share if's deputy from frisco, texas in isolation after reporting ebola like symptoms. the debt deal was in the apartment where thomas duncan
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was staying, not wearing hazmat deer. the will be there for another week, no reports of ebola symptoms from many of them. last hour we spoke to dr. anthony falchi who says there's no need to panic. >> none of us feel there will be an outbreak because we do have a health care system which can handle ebola as it has with mr. duncan. stuart: not everyone agrees with that. bill mobley told us the government has dropped the ball. >> a million people on the continent of africa are quarantined with ebola. 10,000 people are flying out on a daily basis on an 35 nonstops around the world and you think mr. duncan is the only one who has taken this thing? we miss this diagnosis in dallas because our guard was down. adam: the government still says they have no plans to stop travelers from the hot zone from entering this country. look at the big board, look at
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apple, carl icahn saying the stock should be $203 per share, $1, it was up in a down market. 3:00 this afternoon charlie gasparino, liz claman talked to carl icahn, count down to the closing bill this network today. let's take a brief pause, we have a real star with us today. you know who he is. as soon as we put him on camera you will know who he is. his name is grade norm in and he is here next to me. terrific to have you on the show. what is with a chain saw accident in the hand? >> is still numb from here to here. my mic to get it in. if i can do it myself i'd do it. stuart: but you still play golf and you can still play golf 100%. >> we don't know yet. i had my swing in the gym the
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other day, just winging it, light weight golf club and it feels different. have to build up a lot of the muscle that was torn away, the chains on does a good job. stuart: i got free form by the way. >> might be up there. stuart: you are a walking conglomerate. we never had anyone on the show who is so successful in so many areas, you do wine, golf course design, you have a clothing line, but real-estate? anything else? >> we are in the beef business, what else would we be in? different things as we go along. now we are in the fun business. stuart: do you like it? >> i love it. stuart: you like making money running an enterprise and shaping it. >> i love making money but he is paying the taxes. stuart: welcome aboard.
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you travel a lot so you are in a position to tell our viewers what people over is there think about america. you just saw that harvard peace, harvard kids think we are a threat. what does the rest of the world thing? >> i was lucky enough to travel the world for 35 years, lucky enough to live in the united states since 1991. since the mid 80s. there are a lot of recessions in america, i have seen a lot of global recession that take place, but the thing that surprises me is the most is when i do go to countries, china and in four or five days the question and ask an australian living in america, what is wrong with america right now? you sit back and go that is a very easy, simple question but very profound in the obvious way of asking, you sit back and go if you are in china or vietnam or asia or the middle east, just
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came back from jordan, they all question what is going on with the united states because they depend on the united states to lead in a lot of ways. leadership is not too hot because people -- my company -- i have a lot of great people, they seek me to give them leadership. i give them a 12 year vision where i think the company should go. the leader of the free world should do that for the world. it is interesting to see, the opinions of people within to the opinions of people outside looking in. stuart: you are being very diplomatic. president obama is not leading as well. >> i don't think so. but because there are so many
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instances that i see even in my development business, even icy small-business this give money to invest to the business because of banking regulations. we saw this opportunity. at the same time while we getting so overregulated, and entrepreneurialismship is lost a little bit. stuart: before the hand injury, how often do you play? >> i played 5 or 6 rounds. stuart: that is it? great north played 5 or 6 rounds and that is it? >> i love what i do. stuart: the conglomerate? >> i love being a living brenda and growing in and seeing the opportunities out there in the global marketplace is extraordinary. stuart:ite golf course?
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>> in australia, composite course. stuart: i can't believe we are cutting this man off but we are going to do it. greg norman, thank you very much, what a pleasure. 30 cars an hour across the auction block today, hershey, pa. lots of money, we will show you what is selling in a moment. opportunities aren't always obvious. sometimes they just drop in. cme group can help you navigate risks and capture opportunities.
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jones industrial average right now down 275 points hitting 16,718. the s&p down 31 points at 1937, the nasdaq down 1.5%, 4398, the selling is broadbased, all 30 dow components in the dow, chevron and exxon are big laggers, all elected team month lows, up 3%. goldman, caterpillar and looking at the s&p 500 the gap and same-store sales disappointing, and in the s&p 500 laggers, first solar down 5.5%. down 12.5%. the third index representing volatility and nervousness going forward. that is jumping and it is up 18%. "varney and company" coming up.
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stuart: we don't want to dig into the technicalities of finance but the yield on the kenya treasury 232 briefly earlier today was 229, a historic low. explained this to the audience, when america's ten year treasury called 2.9%. >> what it means is america and/or other investors are happy to buy the u.s. bond and lend their money to the government at 2.3% for ten years which means
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2.3% is the best he can do, everything else is doing poorly so it is a harbinger for what is going on out there. the lower it goes the worse things are and i think it goes to two. stuart: there is a prediction for you. do you think that drop in yield has something to do with the drop in the stock market? is there a link there? >> absolutely. they used to work inversely. you would see yields rising and now we see stock markets go up, the bond market goes up meaning yields go down, we haven't seen that before. it is a perverse relationship so lot of folks are taking money out of the stock market, selling off or buying the bonds because they are afraid of what is around the corner and one thing the government has proven to us is we don't know when or if we will get any true growth around the corner so we have these talks about stimulants or central bank innovation and it won't end until we see true growth. stuart: interesting, thank you very much, predicting down to
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two even on the 10 year. said news for new york yankees fans, several items have reportedly been stolen early wednesday from the yogi berra museum in new jersey. no one knows exactly what was stolen. the museum houses many of his mvp trophies and even the nick he used when he caught a perfect game in 1956 world's seas. authorities believe it is a minor league stadium attached to the museum, some items gone. adam shapiro is with us live at the annual hershey car swap. can you tell me what is the priciest car tonight? >> because that attract the most attention, 1930s, anywhere from 400,000 all the way up to what you are willing to pay but the auction is going to take place a mile from here. more than a thousand, there was
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a package for $250,000 because people come here to trade, the road maps are here, 1948 road maps, you could buy this, $44,000 and get your entire family in their, the largest thing on the lot. next to it historic 1951 mercury station wagon. you could get that for $80,000. money is no object so the industry, collective car industry is growing by leaps and bounds. 9,000 vendors, of one thousand cars for sale and that the auction tonight more than 80 cars coming up for did and for the highest bidder you have a nice set of bidders. stuart: chinese buyers get into the market, do you think chinese buyers will be taking cars tonight? >> there will be some from all over the world, there are 31
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countries represented here and there are investment opportunities. look at that mercedes. this is familiar because they were alive, this was a 1980s, you could get that from $12,000. look at what is happening to the mercedes, they are shooting up in value dramatically. the 280s, of those are selling for $440,000 and the car before that, the mercedes 197 for $150,000 so there is opportunity and foreign buyers from china or europe or brazil i definitely here in her tea. stuart: you can catch more of adam live from the big auction tonight at 8:00 p.m. eastern on the fox business network, at 8:00. president obama wants to take from the top and give to the bottom, redistribute wealth. john stossel says it does not work. john: what shall america do
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stuart: latest number from the department of agriculture shows 46 million americans have food stamps, the 35th 3 month at 46 million got food stamps. john stossel is talking about income inequality. you reduce the inequality if you give people food or if you give people more and come, don't you? john: yes. stuart: is that the nature of your show tonight? redistribution works? john: what sold me was looking at the graph of the poverty rate, where the war on poverty began. dropped sharply but look to the years right before the war on poverty. americans were lifting themselves out of poverty already. the war started, accelerated progress for 5 or 7 years and stopped. we taught people to be dependent. now we have people who are richer than ever, more people on food stamps, collecting disability payments even though fewer people lived things that were sent medicine is better. we are teaching people to be passive. stuart: if you take from this
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group mainly the rich or the middle-class, take from here and give to here, money or food stamps or whatever it is but you take and you give you are saying that flat out does not work to bring everybody more in line right there. john: when government does it. when the mutual aid societies used to do when they said this guy is just mentally ill, helpless, we got to help him but this person not to work, give him nothing and he went to work. stuart: they think of we have flat out free-market capitalism, free market capitalism, you think we would be closer to year and more people in the middle as opposed to here and here? john: no. i think freedom will create great disparity but i don't care if bill gates is filthy rich. peter: when is it moral? is it moral to have this kind of disparity we have got today? john: yes. that is freedom and there will be in the quality. i wish i were as good looking as brad pitt for as athletic as lebron james and i am just not. stuart: the trouble is
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politicians make people think it is not fair that i get $7.25 per hour and vote for those politicians and say i will give you more. you pass the tipping point. if more than half the population gets something from this group why should they vote not to get something from this group? john: minimum wage doesn't improve their lives, the job of economics is to teach men how little he knows about what he imagines he can design. you raise the wage, nobody comes your gas at a gas station, no kids allowed to work as an apprentice in a construction site anymore because of these well intended minimums. stuart: when you are a missionary and you are doing work -- the time is -- john: 9:00 tonight. stuart: the 9 of the show? john: stossel. stuart: more varney in a moment.
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stuart: look at that, down 260. the every single dow stock is in the red. i will toss it over to dierdre bolton. dierdre: volatility is back, stuart, that's for sure. wall street.e to monitor the stuart told you the dow down sharply. speaking of wall street. the recent cyberattack is broader than previously thought. police think the hackers took data from at least one other organization in addition to jpmorgan. we'll give you the update. billionaire activist investor carl icahn challenging apple saying the stock is worth twice its current price. creator of google map and like button for facebook will tell us what he thinks. turnaround story of the company that owns the new jersey devils, philadelphia 76ers and prudential center in newark, new jersey. my conversation with the ceo later this hour. first up, carl icahn telling apple ceo tim cook you're doing a great
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