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tv   Cavuto  FOX Business  January 26, 2015 11:00pm-12:01am EST

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include that? thanks for watching my first show i will see you back here when senator ray and paul will be here. i am kennedy. lou. you're looking at a northeast, pretty much stopped in its tracks. that is, of course, assuming you can get on the tracks or the roads or any highway, or any bridge, pretty much anywhere. if you need to get on it good luck getting to it. andrew cuomo will not let you on the roads during his stay. new hampshire. connecticut. massachusetts. all joining them in declaring states of emergencies. others are expected to follow. virtually all air traffic in and out of the region, ground to a halt. laguardia, international airports have stopped letting planes in. they're minutes away
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from not letting planes out. more than 2600 planes canceled today. likely double that by tomorrow. tonight's new york knicks, knicks fans are celebrating. louis c k's final show. scrubbed. ditto all broadway shows where it's lights out tonight. the united nations there will be no business tomorrow because it will be closed. schools, up and down the north eastern seaboard. for residents along the massachusetts coast a mandatory evacuation in the case of severe flooding. (?) about the only ones who managed to beat the storm, the new england president of the united states whose fully inflated tires quickly got them out of the way. they were the lucky ones. to janet janet stean who caused tonight's
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calamity. janet, thank you for all of that. spell it out. what are we looking for tonight? >> we do have a big blizzard happening. 29 million people under a blizzard warning for the next several hours including new york city up towards maine. i want to focus on the temperatures. we're expecting power outages. with heavy wet snow. 2 feet of snow. winds in ees of mil an ur. fornxtenng aunt tim poweutes. need neighbors to get together. check on the elderly. check on the children. because the temperatures will drop. the winds, you've heard wind chill, what it feels like, feels like the teens in a lot of these big cities. as we get through the next 24 to 48 hours, we could be dealing with wind chill below zero. there's the satellite lull in the activity. you can see this dynamic
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storm setting up right here heavy bans moving into eastern long island. also, eastern new england. we think parts of massachusetts, boston area could hit the jackpot of over 2 feet. long island could be dealing with 2 feet of snow as well with power outages. that's what we're looking at. light snow for philadelphia, boston. the leading edge of the blizzard is now moving into new england connecticut, rhode island massachusetts, and long island, new york. wind gusts, 30 miles an hour winds already. hurricane force winds for cape cod. that's why we have hurricane force wind warnings in effect. there's our forecast radar. this is the euro model which we look at. one of our reliable forecast models. it is telling us, we will see heavy snow working its way into new jersey connecticut rhode island, and massachusetts. the take away, neil yes, it will be a r an epic
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storm for new england. new york city, ten to 15 inches of snow. we're forecasting on the fly. certainly our friends in long island need to be prepared for a possible historic storm. back to you. neil: thank you janet. kind of. feeling cocky because you ain't the one getting pounded. get ready for a big surprise. hurricane sandy only colder. a lot more expensive too. keith, what should we expect? why are you worried about this? >> when the damage -- it's a couple months out. you have to get the insurance companies involved. the biggest impact will be right to the middle class. lots of people that can't go to work. trains that can't get things going. food in the stores. thirty to $40 billion in the storm. that's not including all the buildings that are
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uninhabitable. the bist just keeps going. neil: they rob peter to pay for paul. they rob economic activity before they start creating economic activity rebuilding and whatever afterwards so that it's awash when it's all said and done. do you buy that? >> i do. $8 billion a day of the gdp from the northeast. flights canceled. airports are closed. impossible to travel. twenty-four to $40 billion out of gdp. that's 12% of gdp on a daily basis. what will happen is the shifting. the spending will come, but later and in other areas. maybe when insurance claims are paid from damage, that will have a stimulus effect. the first quarter will have a negative impact. over the whole 2015, it will be a blip on the radar screen. if you're in line in
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long island and the gas station doesn't have gas anymore, you're waiting waiting for the gas tank to fill it up. it's not a blip for you. for the gdp standpoint, probably a minimal effect. neil: you're looking at times square right now. calm before the storm. right now in manhattan things have quieted down. after 12 o'clock everything hits the fan again. the bigger worry is the sandy-type development where it does substantial damage to the shore buildings the kind of stuff that costs a lot of money. then what are we talking about? >> that's where the rubber meets the road or whatever vernacular you want to use. budgets are already working hard. well into the stimulus package. the markets are recovering against an insulator and a cushion that isn't there. there's a estimates effect. eventually this will burn off. we'll take care of it.
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blah, blah. right now, in this economic situation where we sit today, i'm not convinced that is the case neil. neil: just because he is out of the country, does not mean president obama isn't still on the case. he's in india. many people say the wrong case. pushing a climate change pact. after the state department wants to use disney's "frozen" to make its claimant case. if i hear that song one more time -- eliot johnson says it's time for the white house to just let it go. i hear you but, oh, my gosh. talk about bad timing. i'm not minimizing some people's perceptions of climate change. i don't know now is the time to go full throttle on it. >> you can always count on the federal government to fail to learn from experience. these agreements have always failed because the world's largest largest
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emitters don't want to put the world's environmental protection ahead of economic growth. those countries should grow. india is too poor a country to invest in clean energy. and prime minister modi isn't even shy about saying so. the idea that obama will go over to india and shake hands with modi over climate change agreement is ludicrous. it won't happen. neil: india has committed to down the road addressing this. that's like me saying down the road i will lose weight. the chinese have signed on to this. they have ten years if they'll do anything. what do you make of the fact that whatever agreements we make, we seem to be carrying the burden here for pretty much the world. >> well, i would point out, that china is at a much further -- much more advanced stage of economic development than india. with india you're talking bay country that is still suffering from large-scale electricity
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outages. a fourth of the country doesn't have electricity at all. climate change and the environment is really a luxury that rich countries can afford to worry about. the poor countries can't. they're worried about their own economic development. china is in a much better position than india. but india will put itself and its own economic development first. neil: don't you think there will be a backlash from people worldwide with this "frozen" song that they'll say you play it one more time, not only will i chase you down but i'll pollute all the more? what do you think? >> the only thing you need to do to foment a rebellion against it is let the state department use it as a tool to teach climate change. only the federal government could sour children on a disney movie. neil: thank you very much. in the meantime -- the economy is not doing so
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hot. add john deere to a growing list of companies listing layoffs. jamie has been following this. she says, you know, people are struggling out there. it's not the way it is or seems to be from the view of the white house. she saw it first hand while filming "strange inheritance." that premieres about 50 minutes from now. right after this show. jamie, we'll get to you in a second on this. we're all psyched about your show. >> thank you. neil: i'm wondering what you realized when you out there. a lot of hurting people out there. >> i met so many hard-working americans that are just trying to accumulate wealth that eventually share in our stories with the rest of their family. for me to be a new york city girl to do a little ranching -- neil: this is the first time you've been west of the hudson river. >> i do my own grocery shopping. neil: i admire that.
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>> now i get to see where everything is grown, all the vegetables. families are getting frustrated. but what they're trying to do is preserve their legacies. oftentimes, they do accumulate farms or ranch lands and they want to keep it in their families neil. and we talked earlier in the week, actually last weekend about estate taxes where there could be an inheritance tax. the tax when you earn it, the tax when you leave, and the tax when your family gets. what's left for the american people? neil: do they get more desperate with their inheritances versus who gets? how does it change the mind-set? >> it breaks my heart to see a family break with something to pay taxes. but we all have to pay taxes. that's just the way it is. the 26 families i met no one really had to sacrifice too much. they were able to sort of -- ancestry.com put the stories together.
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passed something down to their descend he is descendants. this show is about hard-working american families that have something unique, strange, or very valuable. they may not know about it. tonight's episode is a baseball card collection. i could roll this off like nothing for me. honis, i know is very valuable. i know impressive. i learned that a butcher, who used to sell car caramels kept eight for himself. sure came in handy. neil: wait a minute. it wasn't his lingerie box. right? >> that's the story behind the story. neil: absolutely. >> i'll see you in the greenroom. [laughter] great family. if they would have sold those cars, they could
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have crashed the entire baseball market. neil: they owned it. it was their market? >> that was quite a collection. two actors out of work. god willing this happens to you and me if we're not lucky enough to work here. they never hear of this guy who is a hoarder. they couldn't believe when they saw his farm, how much money he accumulated them. he called his friends in his will will. we never met them. he kept scrapbooks of every episode of those show. lou cam. these two actors, we're being scammed. (?) a lot of scams in inheritance. neil: how did you know what was real or not real? >> neil, i'm your legal smarty pants. i know these things. neil: you know what you're doing. >> i know these things. neil: half the states in this country, in a very short period of time, how is it looking out there when americans are talking to you and say hey pass this
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along. what do they say? >> these are not entitlement families. i didn't see a lot of that. i saw ranchers trying to make it in ranching. fortunately, they learned fossil hunting. i found a trail of dinosaur bones. i digress. i had the adventure of a lifetime. neil: i thought it was o'reilly. i had no idea. i look forward to it. it's now about 45 minutes away. >> we could talk for another 45 minutes. i have 26 episodes. neil: well, hold your breath. "strange inheritance" debuts tonight. >> i'm pumped, neil. i'm pumped. neil: i had the privilege of seeing what's in store it's wild stuff. good stuff. she manufactured this epic winter storm. >> i want people to stay home and be safe. neil: and demand that you watch this. >> i made meatballs.
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neil: any italian? >> half italian. neil: there you go. nearby greece, beware of greeks bearing gifts in the middle of a blizzard. they're not gifts. this isn't snow. all you lenders waiting for money, i think this radical prime minister told you to take a chill pill.
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neil: well it's -- our offices right on sixth avenue between 47 and 48 street. blinding snow. now, virtually no snow. this is sort of the calm before the renewed storm sometime after midnight tonight when we're told it could accelerate to an inch to 2 inches an
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hour. we'll see if janet is right. because, if she's not she won't be back tomorrow. meanwhile, what is greece for -- does it sound radical? the radical alexis tsipras just sworn in as the new prime minister. he ain't happy. he sure is popular. former minnesota governor, tim is worried. why, governor? he thinks this could catch on, leaders who abdicate their responsibility. right? >> if this gig doesn't work out for you there's a future in meteorologist for you. neil: i can't spell meteorology but i'm flattered. >> i can barely pronounce it. in grease, what's going on people are scrambling for accountability. we see this in argentina.
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it's a crisis that's been brewing and percolating for a long time. now with this hard party taking over in greece, we want to renegotiate the deal with europe on our debt. those debt holders will say, i don't think so. there will be a collision. it will have to get resolved. (?) you have a government enterprise that has been spending beyond its means for a long time. stifling the economy and setting themselves up for this day of reckoning. neil: i hear you and agree with you, to a point. the medicine we urged on the greeks was austerity, austerity without anything to incentivize. lower taxes. it's all one way. here comes a young leader. obviously an extreme radical. enough of that. this is going nowhere fast. what's to step anyone in this country to say enough with this. enough with this feeling, we have to even
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address our debt. we'll skip out on it. it's too tough. we won't do anything to incentivize or grow out of it, so we're done with it. >> i would say, at the policy level in america they are sleeping at the switch. they're not addressing it in the very near future. for every dollar the federal reserve spends, they don't have 25 cents or so of it. neil: we don't even know what austerity means. >> yeah. it's a crisis in plain sight. they know the government is outspending its means. they're not ready to address it. congress is lagging indicator. they don't address things. that's unfortunate. they're nowhere close to even coming to terms with our deficit and our debt in this country. neil: but they drag about the brag about the fact that our debt is smaller of our gdp. whatever deficit we have, gets added to that debt. that debt gets bigger and bigger.
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both parties fail to address it. how much longer can we get away with that? >> be careful of those who brag about reducing the deficit yes it's gone down to about a half a trillion dollars for a few years. it's scheduled to go up to the trillion mark and beyond in the not too distant future. we take in around $3 trillion a year. our official debt is about $15 trillion give or take. the stuff they don't have on the books most experts would say it's not 15 trillion. some would say 75 trillion or 90 trillion when you add in all the debts they don't count. on $3 trillion of revenue, $50 trillion of real debt, that's approaching 30 to one leverage. if they were a bank, they would be shut down. it's really a crisis in plain sight. neil: you're right about that. governor always good seeing you. thank you. >> thank you neil. neil: enter carl ma carroll maloney.
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i think that's bad timing. do we have the money or resources to do this. >> well, according to the office office of management and budget, it would not cost any additional money. neil: then why do it? >> (?) >> because we need to -- we always say that we value -- have family values. you need to value families. you shouldn't have to choose between a job and having a child. we have 12 weeks of unpaid leave. but 75% of the private sector, of the private sector 100 companies they provide paid family leave. some of our largest and most successful companies. neil: what do federal workers get when a woman has a child? >> federal workers get 12 weeks of unpaid leave. they get no paid leave. and it's very, very difficult to provide -- neil: if it were so bad, we
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wouldn't have federal workers. >> it's putting tremendous burden on the families. if you look at foreign countries -- neil: what burden do they have compared to their counterparts. you work for us. your workers work for us. >> do you think that hewlett-packard, that's providing 20 weeks of paid leave and -- neil: those are private companies. these are public workers, taxpayers are footing the bill. >> they understand the bottom line. neil: congresswoman, we don't have the money. >> i can't -- well we're not adding to the budget. the budget is there for the -- kennedy: where neil: where will this money come from. >> it's part of their salary. just don't take their salary away from them when they have a child. we're tied for last -- neil: who is paying for that? >> when they're out, you would be saving that money. that money would not be going to the worker. neil: i love you dearly. this sounds crazy.
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>> eighty-five countries provide paid leave. we are alone in this. neil: i want to get you back. this doesn't add up. >> it does add up. right there. look when heartburn comes creeping
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>> neil: but we have our snow version listen to the over the top question about john boehner scowling. >> it must me one helluva thing to sit behind the president knowing 30 million americans are watching you for one hour. day you practice that scalpel? neil: imagine if i did that with barack obama. liberals are quick to say fox is biased but not one people out of anyone in the press about bias here?
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use a there is no question the liberal media bias is alive and well but i'd remembered to go deal falling asleep with being three i could go on and on. are you kidding? >> dash eight you are absolutely right. there are a lot of americans scowling talking about him and we know there is the media bias those from the nonpartisan data firm and says looking at research for political contributions and what they have found is the news media donated almost exclusively to the democratic members of congress.
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>> maybe i missed it and with tip o'neill suffering this kind of fate? >> is a smaller number. >> it might be high but it is definitely questioned but that is the way it goes. >> and then that is a difficult job. neil: i don't think these points are beyond making. you should make them and fair and balanced how do you
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keep that going and to look like richard i cannot believe you are alive. >> it is very limited. and facial recognition? interviewing hundreds of people what does he know what could he tell us? >> between 60 or 90 minutes the president who has gone off on designed with his own agenda to dispel any suggestions from democrats or republicans i would also scowl and walked out of the room too bad he has to take it. but i just thank you jumped it. you took the credibility away from yourself. >> let's just say it is rude.
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a lot of republicans now with the liberal media to get away with everything and to give it to the republicans.
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neil: hard to believe tomorrow is 70 years since the liberation of auschwitz. look at what is going on tonight with groups like isis and al qaeda show ring brutally and retain the dust off - - the stuff we thought was in history. that the world is just getting messier and the trouble is they have trouble reconciling the evil around
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us. >> yes and it is difficult if you are not necessarily dealing with the real world and right now we haven't administration that seems not to be focusing on what is happening with the foreign policy in particular is geared towards a world they would like to see in the "state of the union" speech is just the latest example. the president described a world i don't know many people recognize this is puzzling and confusing but very dangerous. neil: isn't it dangerous when the republicans counter with the exception of john mccain but they don't know what they would do differently but the appetite that they now politically is not there and the will of the people is not there for
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sustained involvement of reprove region of the world. >> right. then you have the important point that will constantly haunt the republicans they seem unable to enunciate. neil: what should we do? with the liberation of auschwitz what is going on there? we have seen mass carnage but what makes this think it will not happen again? >> it will. it is human nature but right now it is just in bite sized chunks. with the upsurge of violence with the islamic state and al qaeda we are tired of it but the only people that are rejuvenated are the islamic jihadist and they are on the move despite with the stated
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the union speech presented to us. but the upsurge is a direct result of the islamic states have think this territory. >> but is also of the numbers before world war ii there convince the irrational world will not take them on. so they keep be heading toward doing god knows what and feel emboldened. >> alan to give them too much sophistication but they're smart enough to know that we don't have the resolve to do it. but i would argue it is our job. but it is our position here to rally the troops. and with strong leadership they would be willing but intel be denied them that integra -- integrity of the
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caliphate we will not get ahead of the curve because that gives them the first -- the boost and the ability to plot and plan to reach out to to increase the ability to attack as. behalf to do that in a stronger way but i will say i am encouraged by the fact this military is talking about the planned offensive to retake model -- losel. maybe we should not talk about our planned offensives because i remember reading sometimes surprise isn't a good thing when it comes to war but at least we're doing it. neil: well said. american striper is among blockbuster bringing in more than 200 million at the box office but if you are crazy over this movie howard dean says maybe you are crazy. >> there is a lot of anger
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in this country and the people who do see the movie are those that are in breach and they fight for it. i bet if you look -- look at a cross-section of people there is a lot of intersection. neil: are you kidding me? talking to a former marine sniper, and i did of a study of those who have seen the movie and half for women and half for under the age of 25 said they don't fit that crowd. >> he is completely off the mark you can see when people walk out of the theater it is dead silent nobody is cheering. >> as someone who has put all on the line the way he
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is portrayed in his own right what you think? >> it is ridiculous. he has to silver stars and five bronze stars on top of whatever else for a solid the military gave him and he is the real deal. clint eastwood engaged the movie and they're upset her movie did not do as well. neil: with all of hollywood the academy gave the pitcher six nominations including best pitcher -- picture but with the less solid red ground to be convinced it was not worthy of oscar contention.
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>> because bradley cooper gave such a great performance with the subtleties how you show the symptoms of ptsd? most of them are in on the inside they worry because they recognize a good performance when they see it neil: i recognize a good career when i see a. thank you for all your service it is appreciated. trust me. thank you very much we have more updates on the snow and the markets are responding. it just gets worse and worse and worse.
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neil: less than 15 minutes away from strange inheritance. you can tell us the crazy
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things you have inherited i might share my velvet matador story but that is a separate show. tonight the blizzard blitz looking live at new york city all but shut down. don't let that fool you. it is getting nasty out there. it just as a spill over defect? >> if it does become as nasty as we thank you will see an impact. look back at recent events like hurricane sandy or katrina you talk about potentially one-quarter of a point fund gdp the dollar spent money or earn money if they are not paid to work so that does not necessarily get pushed to the future just doesn't happen but hurts the economy. >> i actually agree. looked at the airline's right now the cancellations
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could have soured a rosy time with a fall of jet fuel prices. >> snowstorms are less than 10% of insured losses. >> however it has a weird potential to get really expensive this whole idea is run by dashes by giant expensive houses if you get a lot of snow than each pipe disaster is a $20,000 claim and the long-term effect that we just saw in connecticut insurance went up because these other storms don't normally have been so the houses have the leaks and the snow but that does not go away. neil: and everybody's goes up been rediscovered buddies utility bills go up as well.
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>> yes and how about the cost to remove one in just noted new york city is $1 million? it would have to remove 30 inches of snow? imagine the dollar signs he would have to make it up down the road with higher taxes. neil: these guys are looking strong scott christie and -- chris christie and scott walker of the thing i love. but maybe more so with the case of dr.. -- walker but most did not think he would is you like the star? >> business white candidates that create certainty and what we know with scott walker and chris christie are pro-business candidates or governors and also know they have great support from
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the business community from wisconsin and new jersey. >> user id approval by the nonunion members have been in decline for decades it turned around a little there has been some attention with income inequality but i am curious if this goes to the election but right now the public has not gone behind the unions again so they can use that as a talking point it's not like we can talk to you need any more because of its kind in equality. >> although not fair or accurate they were deemed the anti-common man you survived the recall so he whether that but it got pretty nasty would be a controversial nominee to put it mildly and that would hurt him?
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>> to say it got nasty is putting it mildly because we were both there and it was pretty high style. the best days of my life i have no memories of the us kuby to bus. but the early stars of the republican party they will rise and fall then vestar burns out. if it gets hot to herby they cannot sustain. neil: do they have to whittle this towners see how waco's? >> i am happy we have such strong candidates to the great crop of senators and governors there will be a healthy debate and democrats don't have that hillary clinton is the candidate right now. neil: she will not be the nominee. >> that does not work out too well for her.
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>> i don't think they are pro union but how much is because they think it is not popular anymore? neil: on this night don't let this will use. >> stay warm. neil: this is how sick you were getting with the deflated ball stories using preadolescent humor to get us to stop. >> may your balls shrink because your coverage shrinks. and that is one of the better emails. recently, a 1954 mercedes-benz grand prix race car made history when it sold for a record price of just under $30 million. and now, another mercedes-benz makes history selling at just over $30,000. and to think this one actually
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announcer: what's the deal neil? neil: and what is the deal with
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our fascination with deflated balls. alicia says, stop already. or don't you have the balls to cover anything else. i know you're facing stiff competition on this ball story all of you shrivel and give it a rest. at least brady has deflated balls. you don't have any balls. stop it already. really? steve: why are all of you at fox trying to railroad brady into patriots. i thought you were supposed to be fair and balanced. marge: i have never pushed the mute button as i have this week. because of your meaningless harping on this story, i will not watch the fox business channel until well after the super bowl. are we included in that? anyway david: neil,
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only the very stupid will woowould doubt that brady didn't know that the balls were deflated. calm down, david. then there's cam, neil tom brady and bill belichick were not responsible. if being able to identify a deflated football, how come the referees who handled the footballs didn't identify the deflated footballs used in the first half of the championship game. what? larry: tbheel, i neil, i have a solution. each team brings 12 balls. the referee exchanges the balls with each team therefore each team plays with each other's balls. are we childish or what? barbara, hi, neil, i'm a big fan. with so much going on, the amount of time you
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spent talking about tom brady and the lack of pressure in footballs was so out of character with you i left my dinner preparations and had to run to my computer to register my descent. descent duly noted. most women are not into deflated balls. maryland says, when criminals start deflating me. doesn't it seem strange that people who write in and complain about your show, your voice your italian heritage, sure know a lot about the show. why do they keep watching if they don't like it? tell the others to buzz off and watch cnn. hey, guys, maryland says you should buzz off and watch cnn. david says, there is wisdom in listening to wisdom just like the pope advised. it's a wise man that listens to the wisdom of his wife. women have a sixth sense for many situations. my wife would save me on
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speeding tickets. she would sleep and wake up and say, you should watch your speed. sure enough. a state trooper was waiting. no, that was a state trooper that was found not wisdom. what is the deal with "strange inheritance," the ground breaking show -- i'm interested in this show. nice to see jamie out of the newsroom and doing something unique. i saw jamie on your show. as always, you're so nice to the ladies. she's very impressive. my daughter wants to inherit my false teeth. lose: i have a basketball signed by the milwaukees. i wonder how much i can get for it. louise, you're not alone. i'll get back to you. my grandfather has a huge box of baseball cards in perfect conditions. he promises to pass it on to us. i hope jamie can show us
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what to do with it. tonight's episode will be doing something like that. jamie will talk talk to a family who inherited baseball cards. learn how much money they made off it and how single-handedly they could change that. in just seconds jamie will take you across the country, showing you first-hand how real american lives are impacted by just out of the ordinary inheritances, from the world's biggest bug collection to a 300 million-dollar nickel. it starts with jamie. a lawyer by training. think of that. lawyer by training. gifted. beautiful. nice. she goes around the country talking to folks about stuff (?) that is their heart and life. those parents who want to give something to their kids and the kids deciding whether they keep it or try to sell it. because the tax man could ruin everything. jamie balances that out.
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when you think of her middle america and realize it wasn't that long ago that she didn't know a country existed west of the hudson, it is remarkable. that's what's strange. and youit it right now. >> found in grandpa's attic. >> dirty, dusty old box. like wow. i don't know what it is. >> a discovery that will make the baseball world flip. >> you've got honus wagner. cy young. christie matthew son. >> i'm thinking to myself, oh, my god. i have a million dollars sitting in a chair. >> but is it almost too much of a good thing? >> it certainly changes the market in a negative way. (?) ♪ jamie: i'm jamie colby. i'm in

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