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tv   Cavuto  FOX Business  April 6, 2015 8:00pm-9:01pm EDT

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to repeat that wisdom for past two decades a great question, that is it for us, we thank you for joining us, good night from new york. york. >> watch the clock it could be time for stock shot, i am sheryl in for neil cavuto, insiders are expecting a weak earnings season. to our money guys. tom, stan, and david. all with me, you said get ready for a sole off soon? >> there seems to be divergence with stock market thinking it is great, and bond market saying that a depression is coming. one is going to get is market is right. >> david do you agree? >> i do. the bond market is considered
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smarter than the stock market in many ways, we went into a secular bear market in 2000. and we broke above those levels through that resistance level or glass ceiling in 2013, if we don't break down below that level again that would be about 30% drop from today it would be first time in 200 years we recover from a success lar bear that -- secular bear that kickly. >> if you look at market it has been fed fueled we know that. they will keep fueling it higher maybe that is fine for abinvestor, is -- for an investor is this fed never raising interest rates? >> i hope not otherwise. the fed does raise interest rates. i think that now is the time they know they have to do it, i think they go before september. we will see economic data turn
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higher in q2. that is key to higher stock market the market needs clarity from the fed about when left off will be. >> dan? you shake your head. >> i disagree with that atlanta fed, updates the gdp almost daily, now if anyone wanted to google it they are at 0.1 for last quarter they were up february 8 it was above 2%. if you measure gdp the way they do in europe here u.s., our treasury interest rates are way too high, my opinion there could be a chance we could go negative interest rates like in europe. >> that gdp report, is being negatively impacted by a stronger dollar and temporary factors. if you look at april data you will find surprising strength, and q2 like last year can do
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better. >> david that is the point that i was going to make, we had that polar vortex again first quarter was awful. like americans were paralyzed. and second quarter we were more than 4% it was crazy. >> so why not this year? >> it is possible that it is better than people are thinking at-this-point, but that is not real issue to me, the real issue we have spanish and italian sovereign tenured debt about 1 1/4%, our tenured treasury cannot go higher than today, it should go at a rate of return. if she lowers yield rate, i don't think that rates can go up because of what is going on in europe. >> i don't know, i understand your point but this year, i think is a big question mark, that would be good for the market, look at jobs and wage growth we had wage growth, .3%
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last month it was .1%. these are dismal numbers. >> it is worse than that, hourly -- remember hours worked went down. the wage growth did not mean much. it was mostly on the supervisor level. the point is that the numbers are pointing to things are slowing down, gold prices have collapsed crude oil prices have collapsed, commodity prices have collapsed. there is no inflation in that market her say, interest rates in europe, people are buying treasuries or sovereign debt, there is also a shortage of treasuries. the last thing that these bonds people are buying, you know ern thinks there is a bubble, bonds mature. not like a stock you can go to zero. >> bonds do have a place to the world. but i want to move to something else.
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if we look at next year, next two years to both of their points here, we have an amazing run up in the market, and it seems to be at-this-point the bull market getting tired. it would not surprise me to have a pullback this year versus what we did not have last year, that was fed fueled. the point to be in place this year for market pullback? >> that is true. but, we have to lock at things from other side, yes i agree there is no inflation and commodity price decline has hurt inflation indicators. but it is also helping american consumers, for of first time in 6 years they have a tailwind, home values are stable, gas prices and commodity prices are down and wages we're not happy with the pace of growth, but they are going up, the consumer can continue to surprise, here in the second quarter. and into the second half, that could be a surprise tailwind on the economy. >> i would take it -- we're all going to have a discussion, we
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jigger our portfolio -- rejigger our- portfolio. >> thank you. >> it has been 6 years since our last recession. so with the economy revolving in 7 year cycles, a new recession could hit in 2016 election cycle, former senator scott brown said that republicans need to focus on economic issues instead of side track to social issues great to see you. you have a great point we've been focused on indiana and arkansas maybe g.o.p. is focusing on social issues too much. >> they are falling into democratic playbook 101, they want to change subject away from the things you were just talking about. in terms of real job creation, and sustained growth, businesses are concerned about the tax and recession la ter -- regulatory certainty with obamacare still
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kicking in. these are things we should be focusing on. but democrats want to take that divide, you know men and against women, and us against them, and have and have-nots, we have to make sure we do not fall in that trap. >> 76% of americans say they don't believe their children will do any better than they will do. >> that is sad. >> and unless you are well off or you saved since your kids were born. like i and my wife have, we have saved. you maybe have an opportunity to help them out to cosign on a loan. that is problematic my daughter's husband has over $100,000 in school debt, it is about school, you know being lower in terms of cost, dealing with actual problem. not dealing with actual interest
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rate that is important. that is what you have elizabeth warren and others doing, we have to make sure that professors who taught a couple of classes making $5,000, that is problem a systemic problem. i agree with that article. >> we were having a very work. y conversation -- wonky conversation about overall stock market goes up and up, and economy is seems flat. where in the economy right now do you think that g.o.p. nominees could pounce, and use that as their platform. >> they need to try to get wages up by allowing businesses and individuals to grow and create. have government play a role, but have government step back and create regulatory certainty so businesses and individuals know what is next. so they can plan in put -- future, we
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need a 3 to 6 to 9 year plan note month. >> you said your colleagues take the bait, i think that is interesting, what kind of examples have you seen with regards. >> in indiana are there more pressing issues in intd inbesides this, really. >> i hop so. >> it is a pres nightmare and arkansas a hr nightmare. -- it is a pres nightmare there are already gay and lesbians a protected class already, but in indiana it note not. how about creating an alternative to high cost of doing business in indiana stream lining regulatory process, and approval process who said, we have to deal with this right away.
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they fell for it and here you're. >> but so much more to come from, thank you. >> thank you. >> some voters might not flip over hillary clinton, but are the alternatives worse off for our economy between heavy taxer o'malley and biz warren, and sanders, is a hillary clinton nomination the economy's best bet? what do you make of this da nene? >> democrats have to coordinate hillary clinton her potential competitors are unelectable in national level you are looking at individuals trying to come out against her for much more bigger government, looking at o'malley for example citizens in maryland elected a republican governor because he was so bad. all of the spending a lot of
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families leaving the state. i think they are trying to look for someone else to replace her but overall -- >> i don't know, bass ill. he was hitting big points, talking about income inequality. and he was hitting real core soarnalsocial issues. >> i think that democratic party has a great bench we're full of ideas that to me i think will be healthy debate we see going forward, talk about o'malley, he is raising taxes but he did also was create jobs, and he reduced the size of government, he spent more money on infrastructure and teachers, that is what everyone can support. having said that. >> if we can afford it that is the problem. >> having said that, i think that problem that democrats have is that we did not do a good job of connecting the policies and the -- to actual voters, i think that is where we
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lost it. >> and he is out of offers, talk about bernie sanders, this is interesting from vermont he said trust me there will be a real clash of ideas, he is going on television network saying he has a clash and hillary clinton going after him. >> he has a 12-point plan that involve more spending, he wants to raise the minimum came, and increase entitlement spending, but with hillary clinton, she has a lot of controversy that is trailing her from benghazi to emails and what happened with server. i think that the americans are not really going to be ready to have hillary clinton as our next president. >> he is kind of saying the same thing, and climbal change, and spending. >> climate change and spending. >> don't they need a new message? >> no, this is a good message it got barack obama elected and as i mentioned before i think that party is a big party with a lot of ideas, some of what bernie
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sanders is saying including warren some candidates to left just a little bit and i think that it will be a great debate. i am looking forward to it. >> we need someone else beside hillary clinton thank you. >> i guess we have -- you never know. >> coming up, something credit cards are doing now could lead to a crisis later. >> fallout from indiana pizzeria forced to close up after speaking out against gay marriage. donors making sure they get a huge payday. but are critics out to stop them from getting that payday? bring us your baffling. bring us your audacious. we want your sticky notes, sketchbooks, and scribbles.
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>> outrage got a lot of support. >> it was never about the money it was more of our beliefs and it is a blessing. god has blessed us for standing up for when we believe. cheryl: indiana pizza shop owner forced to close up after speaking up about gay marriage, money is poring in from donors helping the small business get back in business, critics are raising concerns, one cbs employee reported how she reported the case for fraud just in case. and set record state dana, why has this story gotten so twisted so wrong? >> well, thank you for having me it is because we live in an era of a narrative media a press that wants one particular kind of story to go out and they
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were ones that twisted this. in the beginning this was ever an answer to a hypothetical question, if i was crystal o'connor i would have turned this on the reporter said what gay couple do you know that would cater their wedding with pizza? it was just a hypothetical question. it was the activity of same sex marriage. >> so you say that liberal media is at fall for twisting her story, and they never refused service, she said that clearly. at the same time have you an employee of cbs station saying that she reported them for fraud, then see had to back off of that because, she got attacked on twitter, she said that she reached out to you and your colleagues. is that true or false?
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>> absolutely false it never happened, she never reached out to anyone. not me or any of my staff after she did it and was caught. because she was bragging about it on twitter, she tried to safe face and added on twitter my contribute or lawrence jones that does not count as reaching out to someone i asked news director at cbs why is this new staffer this verified account she works for cbs in richmond, listed on your company web site, and twitter page circumstance this a story. why would you brag about falsely reporting a legitimate account as fraud. that is response you just cited. cheryl: station manager clamming up now not responding. let's talk about go fund me program. $842,000 to me that shows support that americans are
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pouring in these businesses that are being falsely attacked. i think that even funding standards you were shocked how quickly money poured in from viewers for the page, that was gist 4 days, you had to stop it. >> yes we had ever only meant for to go until friday evening i figured honestly we would raise $50,000 we set minimum goal at 25,000, but we were raising 350 a minute on average for this. i never seen anything like this, i have done a lot of crowd sources stuff. so later today he is already there, a financial adviser appeared on fox business before, he is actual there meeting with the family pro bono. cheryl: i hope they will reopen the pizza shop. >> they are they are reopening the pizza shop, from what we
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understand and transfer from go fund me has already started so we're out of the picturing the family will use some donation paying off a business loan they had about $53,000 then use some money to help out those other business owners that have also been attacked like the 74-year-old gloriest -- florist and photography business owners who are losing everything because of this persecution. cheryl: you have to wonder why this is such a hot button issue i said this on box business, that we have an election coming up people looking for big social issues. to turn into bigger issues. but, the liberal media in particular, why do you think they grabbed on to this particular this pizza owner this issue in indiana. and lesser extent in arkansas? why is that? >> that is the million dollar question, it is inconsistent. these are the statement people
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that cheer a framework of a rough draft of an understanding with a nuclear iran, that actually kills people for being gay. they support apple doing business with countries like saudi arabia, they kill people for being gay. and i might also add they ignore story like iz last imin -- islamist in seal who seattle 2 killed two people for being gay if they wanted to focus on discrimination could and death that is where they should look, but this is not about equality this is getting a political jab in as the expense of individual liberty, that is a rights issue the government should never determine the since tearty -- since sarety of faith or when someone can be a christian or not. cheryl: thank you great for you. can wait until they open again. >> thank you.
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cheryl: isis is becoming a bigger threat, are banks funding the threat? meet the money man out to stop this. >> and then, no pain, no gain. charles payne is looking at one stop he said is just about to break out he will are hebe to help you out after this.
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syria and iraq, they're getting funding also from ransom payments involving hostages that have been kidnapped, also from the sale of stolen artifacts and also from extortion-type tax that they um pose on the people -- impose on the people in the territories -- cheryl: that's all fair and good, but none of that translates to an actual piece of currency. so -- >> no, that's true. that's absolutely true. it's been estimated that from the sale of oil alone isis is making as much as $1 million a day -- cheryl: but how are they getting the money? we're showing some of the examples here. these are all banks that have been involved on a prosecutorial level, lloyd's, credit suisse, barclays, bnp paribas just agreed to 8.9 billion here. are the banks still doing this? are they still funding isis? >> well unfortunately, there are several major global banks
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that place profit above compliance with the law, including regulations intended to prevent the financing of terrorism. and those banks as a result, have been penalized by the department of justice, in some cases hundreds of millions of dollars, in the case of bnp paribas, as you said. there's largely a culture of noncompliance with banks around the world. there's making it easy facilitating the ability of isis and other terrorist groups to move money around the world. cheryl: we're talking about billions and billions of dollars these banks have been accused of moving. i know the department of justice, the treasury, used to be the treasury department, cia included all trying to track the funding but how hard is it to track the funding from your experience at treasury? >> well, it's difficult. al-qaeda was getting their money principally from external donors. isis is largely a self-funded
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terrorist organization, so it's a greater charge even to track the money for isis. but at this point it doesn't appear that the u.s. government has really gained its footing gained its traction and has a sound strategy, counterterrorist financing strategy, to go after the funding of isis. cheryl: the banks, i mean, i would think -- and maybe i'm naive here -- any ceo of a large bank, especially barclays doesn't want to have their bank and the phrase isis in the same sentence. >> you would think that would be the case, but with respect to these banks that you've mentioned that have received these enormous fines, they were deliberately providing financing to state sponsors of terrorism such as iran, syria and sudan. and apparently, they didn't have any serious concern about whether they're going to get caught. i think they probably thought they weren't going to get caught. and if so they probably figured any fine would probably be simply the cost of doing business and that they would
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still make profits, enormous profits off of these types of transactions. cheryl: you cut off the money, you cut them off completely and i think that's the goal of everyone here. >> i agree. it's an important goal. cheryl: thank you very much, appreciate it. >> my pleasure. cheryl: here's a question for you, is rahm almost gone? the chicago mayor is in the race of his life, and tomorrow night we're going to know for sure if he wins a second term. the future of chicago and the democratic party is on the line, and we're going to have live update at 8:00 right here on fox business network. no pain, no gain. charles with a hot stock he says you cannot miss. he is coming up next. there he is. and one video game company making your whole house into a video game. your whole house? what the tech?
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cheryl: it's monday, so it's time for our no babe, no -- no pain, no gain, and charles payne
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is here so salute an american success and an incredible woman. >> yeah. shawna martin it's a woman who was a lawyer she had a battle with breast cancer. she, you know surgeries, all the chemotherapy and everything. she came out of it, she began to drink green juices. and it really had a major impact on her life. she changed course and she started to develop them herself called daily engreen. it's interesting, when you say green juices, a lot of people make that yuck face. cheryl: yeah. until you try them. >> well, it depends. i still make the yuck face. [laughter] cheryl: i like them. >> look at you, you're a health nut. but her first juice was called vitality based off a local barbecue recipe. the flavors, it brings people in who normally may not even want to give it a shot. and, of course, ultimately, it's about a lifestyle and about being healthy. so she's really doing absolutely enormous. cheryl: i love it. she also got, what 100,000 in
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credit? she basically got a loan. >> which a lot of people do. they max out the credit cards ask friends and family we need a lot more of this with entrepreneurship at all-time lows in this country. people have to take a shot. i guess in her case, she really had so many reasons to believe in this from a personal level, and i'd love to see more people to this. i know there's so many people watching the show right now at home, and they just kind of need to be pushed a little bit. cheryl: it's tough though. not only is it scary because a lot of times you put -- you're putting your own money on the line, everything quos into the business. -- goes into the business. >> yeah. although sometimes if people ever want to be inspired google all the businesses that began during the great depression. me myself, i started my business after the market crashed in '87 i decided to start shifting. i was, you know, zero going to zero going to zero. sometimes it can be the best time because you sort of feel like it's now or never.
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it's harder when you've got the job and the vacation days and the family wants to do this. sometimes these awkward situations can be the best to go ahead and give it -- i want to do this, i'm going to give it a shot right now. cheryl: one of the things about the juice business is it's kind of a hot trend. i would think that would be good advice to people who want to do their own business, grab onto something that's a new movement a few type of something that's being embraced. >> juicing is certainly being embraced, or you see all these frozen places that are around. franchising them is relatively inexpensive. there's no doubt there's a different kind of educated health conscious consumer in america, and it's not just in big cities, new york and san francisco. it's even in the heartland. people are really saying i want to change. i want to sort of do things differently or smarter, and almost every type of food out there there's an opportunity. even if it's not juice to make like spanish food but with less calories or to make traditional
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foods of the south but with less calories. a lot of opportunities for people to take advantage -- cherls cheryl watch the kids, too those 20-somethings. they're not going to mcdonald's. they want healthier stuff. you've got a hot stock today what is it? >> stanley works. it's an american, it's one of the olders, strongst -- oldest, strongest american companies. i love the action on it. to me, it's one of these names they're in tools store am, they're even now in hospitals and health care facilities. providing analytics in 17,000 hospitals and health care centers but it's greatly positioned. we have the chart up there. it's one of these great american companies, i think anybody looking for something to add to their 401(k) to buy and hold for the next 5-10 years -- cheryl: i like the name. charles payne, thank you very much. >> thanks a lot. cheryl: when's the show? >> 6 p.m. every night. "making money." cheryl: thank you, charles. who needs a playstation when you can have a play house? find out how one video game
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maker wants to turn your whole home into a video game. then, what the crock? an all new "strange inheritance" that had one family fearing for their lives. that's tonight at 9 p.m. only on fbn.
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it used to take two weeks to sequence and analyze a genome; with the microsoft cloud we can analyze 100 per day. whatever i can do to help compute a cure for cancer, that's what i'd like to do. cheryl: it is time for america's favorite segment. first up video game played on floors and walls. samantha murphy on whether this game is going to catch on. we have virtual gaming -- not virtual but gaming where you can kind of, you know the xbox follows your body. how is this different? >> think back to childhood when you would imagine the park was a jungle or like lava on your
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bedroom floor, and you would tiptoe over different rocks. this is basically taking whatever's in the head of a child and projecting it virtually onto the floor. and it comes with over a hundred different games like air hockey or hungry hungry hippos-like guam. so if they have a castle in their mind, they can go online and draw a moat and add sharks, and it really brings whatever they're thinking to life. cheryl: okay. i guess it is the extension to have the old xbox or whatever. >> right exactly. cheryl: okay great. [laughter] next up, a smart bike that does the work for you. is it actually going to ride the bike for we? [laughter] >> it'll take you to work. no it'll go to work for you. what's really great about this is you buy a wheel. it's kind of expensive, it's about a thousand dollars. you put it on the bike you already own, and it turns it into a much smarter bike, and it's not just gps, but it actually does a lot of the work for you.
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so if you're commuting in new york or san francisco, a lot of times you show up to a meeting very hot and sweaty, and this actually takes that component out of it. it's really doing a lot of it for you so you can arrive very much in style. cheryl: okay. they had a kickstarter campaign. >> yeah, it did so well. it got over $700,000, and it only wanted 100,000. cheryl: have they priced out the bikes yet? >> actually the bike itself is just your own bike so you can still use your own, and you just use the wheel which is about a thousand dollars. cheryl: oh, interesting. still it's going to cost us a little bit. okay, now to my favorite story. if you are nervous about flying with your pet, delta's trying to ease your mind, offering passengers gps pet trackers so they can monitor their dog mid flight. okay, do you like this? >> this is great. this actually stemmed from something that happened at lax back in the fall. a dog that was flying with delta got lost and escaped from the chem, and they were never able to -- from the kennel and they
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were never able to find it. it's actually not entirely uncommon for an airline to lose a pet. so this is a way they can always, you know, a pet owner can always keep on top of where their pet is, make sure they're getting somewhere safe hi, and other airlines are starting -- cheryl: but they're charging for it. >> exactly. cheryl: of course they're charging for it. >> right. it's a $50 upgrade, but you get you know, the peace of mind that your pet is okay. ask it's not just making sure they arrive somewhere safely, it's also making sure the temperature in the cabin where they are is also, you know, applicable to -- cheryl: and united is also testing something for this as well right? >> yeah. they're looking at it too. what's also interesting with delta basically what they're doing is it's not just for pets. it's other things that are being transported like organs for a transplant and, again, with the temperature, making sure everything arrives the way it should. cheryl: the sensor i was reading, it can monitor whether
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the pet's laying down or upright or maybe laying the wrong way. so interesting. but i love it all. >> right. cheryl: thank you very much. >> thank you. cheryl: well coming up next, some good news if you have bad credit and some bad news if you have good credit. i know, sorry. and what banks are doing that's got the pros stewing. coming up next.
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scores aren't as prepared to handle more debt. they don't have the financial resources we saw in the past financial crisis. people took on too much debt, and you can get in a really nasty debt spiral if you take too much and you're not saving enough. we have a lot of millennials not saving enough for retirement and who are also saddled with all this student debt. so they don't need to administer debt can. cheryl: oh, forget them, dominic, this is going to help the economy and the rest of us. [laughter] >> we saw some end recent data, and we were looking at the savings people were going to get from lower gas prices, right? and you would think they were going to take that and spend it. statistics that i saw they're not doing that. they're using about a third of it to spend but two-thirds is paying down debt can, increasing savings and increasing 401(k)s. it seems people are becoming more responsible about how they're spending their money, but they are -- that subprime group is taking only a lot more debt all of a sudden, and it's worrisome. cheryl: why would they want to
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risk default on those loans? >> here's the thing you can't listen to the banks, in my view pause they want you to borrow more. you've got to make that decision for yourself right? this is debt with 15% interest rates on average. this is not what you want in your wallet at all. so three words for you: subprime home loans. remember that? that was a real learning experience for all of us. people say they want to blame the consumers. listen, the bankers said you can handle that, that's not a problem. found out we couldn't. cheryl: i think what is so strange about this, dominic, they look at all the banks over the last few years since the financial crisis that was caused by housing, the lending standards for home lope -- loans have been so strict, but on the other side here you go, take another credit card. go ahead. >> we went through a period right after 2008 when people's credit cards were eliminated credit lines were cut, but now it's all coming back and it all has to do with profit. 15%, in some case that'd be
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awesome gerri. we've seen 29.9% on some of these credit cards. they're still charging almost 30%. and i understand these lower credit score people need the cash flow. they use the credit card to get through to the next paycheck, but they're paying 30% a year in interest. the banks are completely raping them in this account. >> many some cases, though the banks are upping people's credit limits without the people even asking. so i think that goes to gerri's point. they don't know how much you've got saved for retirement they just want to sell more product make more money off of you. you really need to be disciplined and do what's best for your own financial picture. if spending more money, buying another vacation or buying another car is not part of those financial goals don't just go do it and spend it because you can -- cheryl: okay, gerri, we've talked about this. say that i had bad some bad luck, you know, my credit's destroyed.
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i've got a bad fico score, but i get a high credit limit, i pay it off, i'm building my credit --? >> you don't have to spend a lot of money, you don't have to max out the credit limit. you can just buy a few things and pay it off immediately. let me tell you, that's not all you're going to have to do. check your credit report, see if it's accurate, if it describes you to a t or not. for most people that's not true. cheryl: these banks never cease to amaze me. >> you can be very disciplined and then the car breaks down or something happens to one of your kids or the college payment is due. oh, or i'll just take a little bit more, and i'll be fine next week, next month, and that never happens. you have to be very careful about using these things. they are a tool. >> they're a drug. [laughter] >> live below your means, that's the best advice. cheryl: there is a place for credit in the world. >> there is, absolutely. cheryl: and there's a place for loans in the world.
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we went so far off of the cliff in 2008 that i think so many people are afraid of it. but i guess the banks aren't afraid. at all. >> bad debt, good debt, right? i mean, there's good and bad. >> banks feel a little bit better about doing this, but remember they're doing it for their own benefit, not yours. cheryl: that's an interesting point, that the clip" city's >> a high of almost 7% in 2009. this first quarter they were down to 2%, so people are getting better. they are paying their debt. people are working more. even though we had horrible employment numbers on friday, there are more jobs being created. but the temptation is there. once you get that credit card in the mail or the limit goes up oh, i'll get it next month and then you lose your job. be very careful. cheryl: if wages don't go up in the next few months, people are going to get these credit cards because they're going to have no choice, unfortunately. >> good point. >> and that's the death spiral. cheryl: it's good to see you all. we'll lighten it up next time we get together, i promise. [laughter] could rahm be gone?
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in 24 hours, we are going to know. but has chicago already made up its mind? >> what's on the ballot is chicago's future, and in the next four years we're going to have to to make some big decisions about that future working together. people ship all kinds of things. but what if that thing is a few hundred thousand doses of flu vaccine. that need to be kept at 41 degrees. while being shipped to a country where it's 90 degrees. in the shade. sound hard? yeah. does that mean people in laos shouldn't get their vaccine? we didn't think so. from figuring it out to getting it done, we're here to help.
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>> less than 24 hours to chicago's historic run off election, we'll be all over it tomorrow night 8:00 eastern time here on fox business network. because future of chicago and the democratic party on the line, rahm emanuel is in danger of the lowing his seat. is he in trouble? >> well, clearly, he didn't win the run off as -- excuse me, he did not win the election out
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right, he has a run off i would argue that odds of him losing are really pretty low in other cities countries greece for example or new york, progressives were able to win rahm emanuel will win he stayed to the center,. >> garcia is almost like a marxist candidate who wanted to spend, and rahm emanuel tried to fix the budget in chicago. >> he has cut spending made the unions angry pension disaster is more of a disaster. the chicago economy still struggling. what has he didn't that is positive? >> you know, i remember, hearing he wanted to run for the mayor of chicago, i am like, why would
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anyone want that job right now? we had a billion dollar deficit when he was running for that office. he has cut that deficit. i am not trying to make the case that rahm emanuel is a good mayor but he has been handed a set of cards he could hardly win with he will probably end up winning, the next 4 over 5 years in chicago are going to be very trying times, we have almost 20 billion dollars in unfunded pension liabilitities still a 3 to 500 billion dollar annual budget deficit right now we have to make payments to the pension plan this year about 400 or 500 billion next year, of a billion. i don't know how we could do it without cutting tensions -- pensions dramatically or raising taxes, both of which are a disaster. >> it is going to be a fascinating evening. thank you very much.
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fox businessal over, this historic run off election in chicago, live coverage 8:00 eastern time right here on fox business network. i am kheryl in for neil cavuto thank you for watching. >> deep in the swamps of central florida. >> we have a couple,000 alligators. -- a couple hundred crocodiles. >> lurks one "strange inheritance." >> my ideal all along was that i could build something that i could pass down to my family. >> always in the back of your mind? >> always. jamie: can we name this one jamie? >> absolutely. >> passing down an enterprise like this can be trecherrous. >> we might have to hit the road. >> it might be soldout from under us. >> it is risky business. >> what happened to your finger? >> a correct deal bit it off -- crocodile bit it

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