tv The Willis Report FOX Business April 24, 2015 5:00pm-6:01pm EDT
5:00 pm
a year ago. it was the best thing that happened to uber. who do you call if there's a taxi strike? you call you or uber. >> the best alternative is when you really offer the alternatives. >> we've got to go. that's it for us. "the willis report" is next. >> have a good weekend. gerri: hello, everybody. i'm gerri willis. and this is "the willis report," the show where consumers are our business. more questions of bribery and corruption swirl around hillary clinton. and now the return of another scandal may rock her campaign. >> i don't know that she could stonewall this for the next year and a half. comcast and time warner drop the huge merger after company pressure. >> comcast withdrawing bid for time warner cable. >> is the collapse a good or bad deal for consumers? a state of emergency declared in minnesota as the bird flu outbreak spreads. is the poultry on grocery shelves safe? government rules and
5:01 pm
regulation gone too far. a texas chef fined for feeding the homeless. >> they can cite me or arrest me. gerri: he'll be here with an update on the case. congratulations america! you worked hard for this. it's tax freedom day. all this and more coming up on "the willis report," where consumers are our business. . gerri: selling our national security to the highest bidder. that is the explosive charge tonight against a former president and a former secretary of state and, of course i'm talking about bill and hillary clinton. it's a story that's gotten bigger this week with the upcoming release of the book "clinton cash" which digs into a very murky world of the clinton finances. with us now "wall street journal" dan henninger. thanks for coming on the show, dan, great to have you here. you know, at some point this is going to have to register in the polls, american voters have to think about this and make decisions. tonight show you numbers here. the fox news poll is asking are
5:02 pm
the clintons honest and trustworthy. 45% say yes. seems like we're starting to hear the distant echo on this story on voters' minds? >> yeah, the polls are one of the only metrics we have to measure what's going on out there. and john boehner said how she keeps this afloat for a year and a half is a good question. gerri: yeah. >> if the numbers believability or approval keep going south towards 40, the democrats are going to get really, really nervous. you cannot nominate somebody for president whose approval rating is down around 40%. gerri: this is unacceptable at this level is what you are saying. i have been transfixed by the story and the russian uranium deal, it's not just buying influence it's not just russians buying influence in washington. it's also a national security issue at this point. how big of a deal is this part of the story? >> i think it's pretty big, because it forces the
5:03 pm
government to react. the white house is trying to push back and say they haven't seen anything that raises these any of these issues to the level where they should see something illegal going. that is the clinton's basic response. this is the uranium sale that forces the government address and express an opinion and you start pulling on the line, i think like a cat. the clintons did not want to go there where you have the government beginning to ask questions. >> we have a special on this coming up, bret baier will have a special on fbn at 6:00 p.m. this is peter schweizer and new book with bret baier. >> the central question? the question which schweizer investigated was about how so many of these deals seem to come back at some point to the clintons? >> what quickly became apparent to many people if you wanted a contract if you wanted to do
5:04 pm
business in haiti, you had to have relationships with the clintons. that was absolutely key. >> reporter: the company that cleaned up on the cell phone transfers was digicell. >> they took in 50 million dollars in revenue in haiti. >> reporter: digicell is run by irish billionaire dennis o'brien, who set up lucrative speeches for bill clinton as well as donating millions of his own money to the clinton foundation. and one company that got a rare gold permit was vcs mining which doesn't have much mining experience but would soon have hillary clinton's brother tony rodham on its board. gerri: it's company after company after country after country at what point do the democrats say this is not working? >> i think that's exactly the question. what point will the democrats say we've got to pull the plug on this. what you have heard described as something that republican
5:05 pm
activists call crony capitalism a word that is supposed to be verb oaten. this is the definition of crony capitalism. group that is upset and you're going to see activated very soon is the democratic left. the progressives remember, the progressives in 2008 supported barack obama in defeeding the clinton machine, right? they aren't really -- they do not admire bill and hillary clinton. this is going to upset them a lot. and i think they're going to get active and start look at the alternative. gerri: there are signals of that already. i want to show you interesting numbers. once hillary went to the state department bill's speak fees went through the roof. take a look at number. before she was secretary of state and after his presidency was earning $150000. nothing to sneeze at right? once she's in the obama administration, it ramps up to $750,000. nearly a million dollars for a speech. does that tell you something?
5:06 pm
i've seen speaking fees, and that's unusual. >> doesn't survive the smell test. the problem with the clintons is they see no bright lines anywhere, it's just all a blur and it all falls to their bottom line. and they keep arguing there's nothing illegal here. i don't think the average american voter standard of proof is whether it's literally illegal. gerri: if you can prove. they keep saying you can't prove we were trying to bilk money out of countries and companies while hillary was at the state department. they're saying you can't prove. that nae not the point at all, right? >> that is absolutely not the point. gerri: the appearance of impropriety is so overwhelming they think a lot of people will never get past it. >> i think the clintons do not fully understand how overwhelming it's becoming. they lived back in the 1990s when the media was simpler. have you twitter facebook, social media, blogs the program we're going to see on
5:07 pm
fox it exponentially metastasizes and the truth is not part of the plan. gerri: it reinvents the smell test, i think, dan. that's the way i see it. thank you for coming on. good to see you today. >> thank you gerri. gerri: we want to know what you think. here's our question tonight -- i'll share the results at the end of tonight's show. also a programming note for you coming up tomorrow, i mentioned this before tomorrow night at 6:00 p.m. eastern time bret baier will be hosting a special looking into the tangled clinton web all on this topic tomorrow night on the fox business network. news from the republican side of the 2016 race. new jersey governor chris christie's wife has left her job at a wall street hedge fund. what does that mean? our own charlie gasparino broke the news first on fox business. a spokesman for christie's office says mary pat resigned at angelo gordon and company to
5:08 pm
spend more time with the family. you got to think, maybe he's running for president. she'd probably quit that job, right? okay. moving on. now a news alert for consumers. we're getting to that comcast and time warner deal which famously blew up today. i've got pete pashal from mashable to talk about that. i have to tell you, i have never seen anything implode as quickly as that did. what was the operative here? what did you make of it? and take into consideration these are two of the most hated companies in america? >> probably taken into account by a lot of people. yeah, this was an interesting unraveling. at some point the tide turned and i think we can look back to last falls that moment when president obama came out very much in favor of net neutrality. he didn't cite this deal specifically. you could tell which side he was coming down.
5:09 pm
on that embolden the fcc to come out with the rules on net neutrality. and in the wake of all this -- gerri: let's cut to the chase here what happened? >> well, comcast decided to pull the plug on taking over time warner which would have led to a mega cable company. gerri: here's what we're talking about, the combined company would have controlled 30% of the pay tv market 57% of the high-speed market. 57% of the high-speed market. that's very big, of course. >> a staggering number. gerri: you say that's unacceptable. i have a question for you. aren't these two gullivers uniting at the end of their lives as they jump on them with different ways, sling tv hulu, you name it to get tv the way you want it? >> that's one way to look at it. the other way is that the cable industry and cable companies haven't had a lot of competition until now. and now they're worried -- gerri: that's exactly what i'm saying, all these little companies eating their dinner,
5:10 pm
and even though they continue to raise prices up 5% this year alone for the average cable customer, look can they survive in their existing form? >> you know, it was a big gulliver, i think the cable companies will be able to exist and thrive for a while. it's the little guys we need to be more worried about. and they are innovating and they are running scared. google fiber, better performance, better customer satisfaction. sling tv hbo now appealing to the younger demographic who want the things cheaper and a la carte. gerri: charter not as big as comcast now making a bid for time warner. now it's interesting because they will not obviously make a company as large as what time warner and comcast would have been, and i wonder what's the reaction in washington? can they get that deal through? >> a better chance because the scale won't be anywhere near as
5:11 pm
large and i think that was the main problem here do you trust a company to have more than 50% of broadband access in america? that will be the key question. there will be an easier time with. charter, it doesn't make financial sense because time warner hasn't been having the greatest earnings report the last couple of years. can charter when they initially tried to make the bid wasn't attractive to them. they were very, very wide apart on stock price if charter can make it work, it can pass the regulator phase. gerri: long way to go. that's for sure. and we're going to continue to watch. this pete thank you very much for coming on the show. good to see you. >> you're welcome. gerri: a lot more to come including the daughter of the r in h&r block. minnesota declares a state of emergency over bird flu. should we be doing something to
5:12 pm
5:15 pm
. gerri: the bird flu outbreak is escalating and taking a toll on poultry farms. minnesota hit forcing the governor to call for a state of emergency. with more on this is the founder of gainer integrative oncology and author. dr. mitch gainer, good to you have on the show dr. mitch. let's talk about the bird flu. minnesota in a state of emergency. 16 states have incidences of this. i believe two have declared a state of emergency. what are the issues for humans at this point? >> well right now, there's not a huge issue for humans but it is worrisome in the sense that this is brought in by waterfowl
5:16 pm
from asia. it was actually first seen in canada and british columbia, and they're droppings have infected flocks in numerous states, but it's not highly transmissible to humans. gerri: to humans. what's the worry for us ultimately? is it livestock being infected and they have to be killed or what? >> that's the major issue because it's very, very deadly to chickens, to turkeys. about 3.8 million have had to be slaughtered so far. they die relatively rapidly but the h5n2 is very different from the previous one, the h5n1 which is more contagious and workers in this country have not contracted the bird flu from this strain ja what do we need to be doing if anything because of the massive rate of infection? >> the major thing is hope for warmer weather spring weather. that should slow actually the spread of the virus, and also,
5:17 pm
i think the farmers are being very conscientious, you cannot get bird flu from eggs or cooked chicken. i think the risk to humans is relatively low. they're offering tamiflu for workers but nobody's contracted it yet. gerri: all right, well, you know, we've got the bird flu going on, there is also listeria out there. we talked about blue bell last week. jeni's splendid ice cream. how big a threat is listeria, that is a threat for humans. >> the listeria is much more of a threat. listeria is a bacteria and it's mainly a threat to pregnant women very young children and immunocompromised adults such as those with hiv or on chemotherapy. but the listeria has already been associated with three confirmed deaths. 10 people have been sickened by it and not usually found in ice cream. freezing, it's not able to
5:18 pm
grow. this is a bit more worrisome. gerri: bit more worrisome and concerning tell me about the symptoms i may face if i ingest the listeria bacteria and what i should do if i exhibit the symptoms? >> the major people that need to worry about it again are pregnant women. most of the really serious side effects happen to either during pregnancy because it can be transmitted to the fetus and the feet us can be born with severe listeriosis which is often fatal. elderly people can get diarrhea, flu-like illness fever occasionally you need an antibiotic for it. most times for somebody like yourself, you just have very mild symptoms may not notice them. gerri: if you've got a young child or older person or pregnant woman in the household you have to be super careful right, doc? >> absolutely. gerri: we will pray for the warmer weather for many reasons. thank you so much. and later in the show, it's tax freedom day but first, she
5:19 pm
5:22 pm
. gerri: my next guest is the daughter of richard bloch the r in h&r block. you think money would be no problem for her, she ended up owing a million dollars to the irs. she's written six financial books. latest success is sacred success a course in financial miracles. with us now is barbara stanny. good to have you here. >> great to be here. gerri: what was it like growing up in the household of somebody who founded h&r block. did he teach you a lot about
5:23 pm
money? >> the onl advice my father gave me about money is don't worry. gerri: really? >> i thought it was great advice. gerri: which is reassuring but not useful. >> under the words is the unspoken assumption there will always be a man to take care of me. there always was, him and my husband who was a lawyer and became a certified financial planner and a stockbroker. gerri: that didn't work out so well. tell us about your husband and what happened. you came to the marriage with a lot of assets. >> i did. and he was a compulsive gambler and i found out early in our marriage he was gambling the money away. here's the insane part i continued to let him manage it. that's how terrified and intimidated i was by anything financial. gerri: why would you be so terrified if you had grown up around it? >> like water to a fish, it was always there. i didn't understand it. i knew he was doing it my husband. they found there's another form of domestic violence that is
5:24 pm
just as bad as physical and emotional that's financial abuse, and he was financially abusing me. he would talk in circles. i didn't understand it. he ran up credit in my name. he made me feel stupid and ignorant, and money terrified me. i thought money is something that smart people know. gerri: but not you. that's so interesting. >> he did it for 20 years. gerri: you made a turn though, clearly. there was a point. what was the point you said this isn't going to work for me i'm going to stop this and change. >> after our divorce i decided money is not my thing, if you don't deal with your money, your money will deal with you, and i got tax bills for over a million dollars for backtaxes my exdidn't pay, for illegal bills, my signature was on everything. i didn't have a million dollars or close to it. my ex left the country. gerri: he left the country? >> left the country.
5:25 pm
gerri: some people wouldn't it make it back through this. you did. what kind of reserves did you call onto come to grips with the trouble. and as a practical matter, how did you pay the million dollar tax bill? >> what happened. those are a lot of questions in one. i knew i had to get smart. and my father wouldn't lend me the money but i had three daughters and one was a baby. i was not going to raise the girls in the street. i had to get smart and didn't know how i was going to do it but it was just the biggest coincidence. i was a journalist writing for the san francisco business times, and i was asked to interview women who are smart with money, and those interviews changed my life. gerri: so you found some practical information that you could then apply. >> i found two things for women especially, i think financial success is not just about what you do it's about how you think, and when i shifted my thinking along with my behavior, everything changed. gerri: all right, share some of
5:26 pm
those thoughts with our viewers. what are you recommending now how to be smart with money? >> i believe it doesn't take a lot of time to create wealth and it's much simpler than we think. and i think it's small steps for me consistently taken the lead to remarkable results, and if every day you read something about money, even if it's just per using, glancing at the headlines of the business paper for a minute or two. and every week you have a conversation about money, ask people how they got smart? what ideas they have for you. gerri: and automatically save. >> automatically save. gerri: if you don't have access to the money, you can't spend it. >> what you don't see you don't spend. gerri: barbara stanny good to meet you, thank you so much for coming on the show. >> thank you. gerri: coming up, our legal panel weighs in on the case of a chef fined and ticketed for feeding the homeless.
5:27 pm
you'll breathe a sigh of relief for the rest of the year, everything you make goes not to uncle sam. we celebrate freedom day tax freedom day, coming up. the real question that needs to be asked is "what is it that we can do that is impactful?" what the cloud enables is computing to empower cancer researchers. it used to take two weeks to sequence and analyze a genome; with the microsoft cloud we can analyze 100 per day.
5:30 pm
gerri: welcome back to the wilson report. in a moment cause for celebration but it's time now for a look at other stories in the news. italian authorities telling the public today about a planned terrorist attack against the five years ago that was never carried out. police are looking for nine other suspects three of much believed to be in italy. and european credits from defaulting and existing the euro two months ago grease got moral turpitude 7.5 billion dollars but officials had to come up with a set of reform. there's just days to go before that dependable. the nasdaq just continuing its
5:31 pm
run into the record territory. the gay comes from the record close at the height of the.com boom. and the new lifetime high. and no one was injured thankfully when a stage in a indiana high school collapsed during a musical performance. all injuries were minored and classes even went on as scheduled today. and those were some of the stories in the news tonight. well, if you haven't heard already, it is tax freedom day, the day in which americans have enough earned income to pay off their federal, state and local taxes. so after today you're working for yourself. welcome back to the show. you know, i would like to be happy today, but i am not happy today because i think that today should have happened maybe in february or january. your reaction. >> well, up until about 19 13, it always did happen in january.
5:32 pm
and then of course government -- at all levels took off. government federal state local this year take 4.8 trillion dollars and spend it. so when politicians look at i and say we haven't paved the road because we don't have money, they do but they chose to spend it in different ways. gerri: well, higher and higher taxes you say 4.8 trillion dollars, absolutely true but it seems to me every day tax freedom gets a little bit later, the realtime is there's more and more coming out of our wallets. >> there is. it could be as late as april 2nd, as early as may 13th, move from can it to louisiana move from texas to florida and tax freedom day moves up for you. so looking at the 57 states, some of them are more expensive to live in than others.
5:33 pm
>> i think a lot of americans have figured that one out. we see a lot of people moving to say, florida. i have to ask you though, i thought things might change when republicans took over both houses. the house and the senate and now it looks like they don't have anymore discipline than they had before. the tax bills continuing to go up. what do you think of this? >> well, i would argue that that was certainly true during the bush years before the tea party movement. the senate spend less wasn't on the agenda in the way that you would like it to be. since the tea party the house when the got the majority, 2010 election, when they went head-to-head with back home, we dropped spending from 24% at gdp down to 20%. there are has been a change in the republican view on how to deal with spending and it's been progress. not enough but progress. gerri: more to be done. that's for sure.
5:34 pm
it's what bugs me are the tiny little things they spend on that are so infearating, like giving money to identity they've seen some 5.2 billion in 2013 to identity they've seen who are steeling our refunds. >> yeah. >> that to me, if i'm doing the right thing and i'm paying my taxes and the prize for doing that is having my identity stolen, that's so frustrating. >> the irs has all the time in the world to chase after you to make sure you're sending them all the money they want. they don't seem to have any time to figure out when they send those checks out whether it's fraud on the eitc or whether your check is going to the wrong person. the irs employees need to take your money more seriously than they do. gerri: absolutely true. so good to see you. thanks for coming on the show. >> good to be with you. gerri: and when we come back. we're looking at what some are
5:35 pm
calling great hypnoease on wall street and one chef tells the story of how she was ticketing for doing the right thing. and here's your consumer gauge with the numbers that mean the most to you. check it out. when a moment spontaneously turns romantic why pause to take a pill? and why stop what you're doing to find a bathroom? with cialis for daily use, you don't have to plan around either. it's the only daily tablet approved to treat erectile dysfunction so you can be ready anytime the moment is right. plus cialis treats the frustrating urinary symptoms of bph, like needing to go frequently, day or night. tell your doctor about all your medical conditions and medicines, and ask if your heart is healthy enough for sex. do not take cialis if you take nitrates for chest pain as it may cause an unsafe drop in blood pressure. do not drink alcohol in excess. side effects may include headache, upset stomach, delayed backache or muscle ache.
5:36 pm
to avoid long-term injury, get medical help right away for an erection lasting more than four hours. if you have any sudden decrease or loss in hearing or vision or any symptoms of an allergic reaction stop taking cialis and get medical help right away. why pause the moment? ask your doctor about cialis for daily use. for a free 30-tablet trial go to cialis.com if you suffer from a dry mouth then you'll know how uncomfortable it can be. but did you know that the lack of saliva can also lead to tooth decay and bad breath? well, there is biotene specially formulated with moisturizers and lubricants... biotene can provide soothing relief and it helps keep your mouth healthy too. biotene, for people who suffer from a dry mouth. [ male announcer ] we know they're out there. you can't always see them. but it's our job to find them. the answers. the solutions. the innovations. all waiting to
5:37 pm
help us build something better. something more amazing. a safer, cleaner brighter future. at boeing, that's what building something better is all about. ♪ ♪ it's more than a network and the cloud. it's reliable uptime. and multi-layered security. it's how you stay connected to each other and to your customers. with centurylink you get advanced technology solutions, including an industry leading broadband network, and cloud and hosting services - all with dedicated responsive support. with centurylink as your trusted technology partner you're free to focus on growing your business. centurylink. your link to what's next. bring us your baffling. bring us your audacious. we want your sticky notes, sketchbooks, and scribbles. let's pin 'em to the wall. kick 'em around. kick 'em around, see what happens.
5:38 pm
because we're in the how-do-i-get-this-startup- off-the-ground business. the taking-your-business- global-business. we're in the problem-solving business. 400,000 people - ready to help you solve problems while they're still called opportunities. from figuring it out to getting it done we're here to help. gerri: well, if you needed it more proof no good deed goes unpunished. police cracking down on a texas chef issuing her a $2,000 ticket for feeding the homeless. she had been operating the chow train for years without a problem serving people in texas like these guys who waited over three hours for a meal. >> it's good stuff. you never know what she'll have but it's always good whatever it is. gerri: but it wasn't good
5:39 pm
enough for the local government who shut had he down. she's fighting back and she join us us now with the story. thanks for coming in. >> thank you for having me . >> are you going to pay this? >> absolutely not . >> are they going to put you in jail? >> they might. but i keep coming to the same spot every tuesday night, and the next tuesday i showed up and just this past tuesday i showed up. gerri: so you've been doing this for a long time. >> yes. >> this is nothing new. >> no. >> these people that we just saw, they know you they wait for you to come in, but it was a little bit different that night. were you in the sake vehicle. >> no. it's the same vehicle. a pickup truck. i don't pull the food trailer. gerri: okay. >> because three spots i go to earlier in the park is too hard to get to. gerri: so you always do it. >> i always do it in the same vehicle. i'm, like, a food delivery restaurant service but apparently not for the
5:40 pm
homeless or working poor. gerri: so you were licensed by the state of texas; right? to do business. you're doing business every single day. >> nonprofit. gerri: so did they tell you anything when they issued this citation, did they say anything like, well, now we're really upset because of xyz, what was their reaction? >> no, they said do you have a permit i said i do and i showed them a copy. and i said this has been to be tapped to your food truck and i said i'm a caterer tonight and i said do you really have to give me a ticket and they said we have orders. gerri: we have orders? >> that's what they said. it was scary to me. so they called, they spent about 15 minutes calling it in to try to figure out what the crime was. >> i apologize to them for putting them in a uncomfortable position because i love the police department and the city. i grew up there. gerri: you've got a lot of supporters there. >> a lot of supporters and all
5:41 pm
over the country and world now. gerri: now, i understand that is san antonio is one of seven cities cracking down on this do you have any idea of why? >> yeah, because they don't you can get rid of homelessness by not feeding them and let them go into the dumpster instead of a hot soup and a three course menu. gerri: well, you told me your dinner it sounded pretty darn good. so our legal eagers are here, wendy, does joan have a -- i mean they think they have a case against her but can she fight back successfully? >> i think she can, you know, we talk about crimes of passion. this is a crime of compassion. this is a case which should involve some level of prosecutorial discretion should this be something that's going to be to the full extent of the law or a speed or stopped on the freeway
5:42 pm
getting a warning. because you're not cited for feeding the homeless, she was cited for transporting food without a permit. the same way she's been doing it for how long? 20 years? >> no. 8 to 10. >> 8 to 10 years. but she's out there every tuesday night. never had a problem before. gerri: does doesn't the city have bigger issues to worry with than the wonderful talented joan here? >> this is a tough situation. the fact that cities around the country has established these ordinances because they're trying to encourage people to go to these 24/7 homeless facilities than set up. gerri: i'm sure it's really good there. >> i'm sure the food is not nearly as good as joan's. but here's the issue really, gerri. gerri: yes. >> joan has said at least in print that she was serving her religious rights. what if people wanted to have a sex in public because they
5:43 pm
were serving their religious rights? we cannot have people do whatever they want to do contrary to the -- gerri: so she's doing it religious protection, how do you respond. >> that's right. we're living in a day and age where that argument on a lot of different fronts it more likely to be successful than ever before. wells if it's something that's going to succeed but what eaves is a lot of arguments being asserted, and that's the counter argument. richard says it's a slippery slope but are we going to make that leap? >> here's the issue. whether or not the statute was made to prevent religious rights and purchasing their religious rates, it should be validated. but if it's reasonable, for example, it preventing people from serving unsafe people or promotes the general welfare the statute shup enforced and religious arguments should be defeated. however, i do agree that in this case the prosecutor should not
5:44 pm
prosecute because this is a very nice person who is helping people. gerri: that's good enough; right? >> no, there is prosecutorial discretion. nice is enough. the did he discretion for not have -- >> a lot of these cases these citations just get dismissed. so it's more like being harassed by the government. >> well, that's true because people like joan have such jury appeal. she's a good samaritan and doing her thing and in a argument that she raised and she's also a lawyer. is a pizza delivery argument. how is it that pizza is park their vehicle outside our home and bring the pizza in? broken brought that argument up. i think it's a good one. >> then the stawp of has to be evaluated on whether it's reasonable important. if it's unreasonable, it should be
5:45 pm
rall -- validated. gerri: i must be the judge; right? you can go free. >> there you go. you heard it. >> prosecutorial discretion. gerri: discretion is a lot. >> get rid of the ordinance. >> or enforce it fairly and evenly. >> many states have -- gerri: fascinating story. and shocking. amazing. thanks to all of you for coming in. >> thank you for having us. gerri: and still to come while investors wait for the expected interest rate hike, many on wall street aren't old enough to remember higher rates. what that could mean for you and your money coming up every truck can tow a boat. every truck can climb a hill.
5:46 pm
every truck can haul a trailer. but not everyone can say they're the fastest-growing truck brand in america. guts. glory. ram. this allergy season, will you be a sound sleeper, or a mouth breather. well, put on a breathe right strip and instantly open your nose up to 38% more than allergy medicines alone. so you can breathe and sleep. shut your mouth and sleep right. breathe right.
5:47 pm
you total your brand new car. nobody's hurt,but there will still be pain. it comes when your insurance company says they'll only pay three-quarters of what it takes to replace it. what are you supposed to do, drive three-quarters of a car? now if you had a liberty mutual new car replacement, you'd get your whole car back. i guess they don't want you driving around on three wheels. smart. new car replacement is just one of the features that come standard with a base liberty mutual policy. and for drivers with accident forgivness,rates won't go up due to your first accident. learn more by calling switch to liberty mutual and you can save up to $423. for a free quote today,call liberty mutual insurance at see car insurance in a whole new light. liberty mutual insurance.
5:49 pm
gerri: well, i know you've heard of federal reverse hike maybe coming in the near future and we don't know when and that has experts nervous can for how people are going to react because people have never seen a hike; right? well from financial services we're going to talk about the possibility of a rate hike. you know, it almost doesn't matter when it comes -- when was the last time we had a massive change in policy? >> it was 2004 so what's amazing is that i think we've been talking about it since 2007. so it's been seven or eight years that we were talking about rates going up. so i do believe by the end of this year or next year we will see rate increases. gerri: this year? >> yeah. and what that means for our
5:50 pm
homes is that your portfolios have to be protected. gerri: first i want to show folks what happens to the markets. >> right. >> and the facts and you've got some great information here. let's work through some of this. the last time we had a rate hike back in '94. there's a pull back in the s&p; right? bam #.9%; right? >> yeah. >> but 94, 97, '04, this was specifically in the to being market, but if you lebanon at what happen in the next seven months and 19 the 97, it was up 39%. so there's a lesson here for investors is if the stock market takes a dip just stay this course. now, what this doesn't take into consideration however is the bond market. so half of the americans don't even money in stock markets. >> yeah. >> so if your money is in bonds for example that's
5:51 pm
where the markets get hit. gerri: so what part of the market is going to get hit the most? >> very specifically it's long duration bonds. so if you have bonds that are over 15 years and many investors do and you are sitting on anything high yield related. gerri: that's really common. >> people have been chafing yields. so you've got to stop chafing right now and reduce it to a authority term duration. below 10 years. you want super high quality and i'm telling you. you need both corporate and government what you don't want to be is anything junk. so as you go into rates coming up. typically what we see anything that's not high quality has long duration, that's what comes down the fastest. gerri: now, here's my fear is that people aren't going to take your advice and get freaked out all over again. so people not in the stock market it's the stock market that's probably going to recovery the quickest. >> well, many investors in the
5:52 pm
last 15 years have never seen bonds do well in response to right? >> and really the lesson is always stay in the course. but if you're going to be proactive, now is the time to rebalance. now, on a retail standpoint, this is the time to be refinancing. don't wait any longer if you're going to buy a house now is the time to be buying and i'm going to tell you this, if you're going to buy a car, borrow money which we don't usually recommended. but interest rates are going to go higher. gerri: credit card interest rates. >> we don't want you to have credit cards but. gerri: you know, it's been a great world for people with debt because it doesn't cost much. >> subject to change but there's a good news is that rates go up, the interest rates on savings checking, cds, and short-term investments go higher today. so definitely for save investments that helps when rates improve. gerri: great story and well
5:53 pm
done. >> thank you. happy friday. gerri: happy friday to you. and now we want to hear from you. did hilary clinton run the state department as the clinton foundation. here's what some of you were treating me. paul says this. at this point it appears that way. rj respondents e-mails are never gone. they were sent and received to others. enough to prove wrongdoing can be retrieved. count on it. and question is will it matter. gerri: in addition to following me on twitter and facebook sure to like fox business network on facebook. and following a brief one week susception brit mchenry. after a towing company was caught on tape. robert from texas writes she's living justified that it's legal theft to not only money but time there are lots of long miles and long. dangerous. don't be too hard on her.
5:54 pm
and she acted like a stuck up snob however everyone deserves a second chance and i think embarrassment is enough that a week without pay. it's still not good to talk that way. she should have taken the high road if she was provoked. and i'm one of those victims of id theft. wow, gary. the good news is that they caught the false filer. the first agent treated me with respect. the second was condescending and acting like the irs was my poor relative and it was my duty to give them all my money. thanks gary for writing in. we love hearing from you. go to gary wilson.com. and answer to our question of the day. does hilary clinton run the foundation.
5:57 pm
photos are great... ...for capturing your world. and now they can transform it with the new angie's list app you can you can get projects done in a snap. take a photo of your project or just tell us what you need done... ...and angie's list will find a top-rated provider to do the job. start your project for free today. here at the td ameritrade trader group, they work all the time. sup jj? working hard? working 24/7 on mobile trader, rated #1 trading app in the app store. it lets you trade stocks options, futures... even advanced orders. and it offers more charts than a lot of the other competitors do in desktop.
5:58 pm
you work so late. i guess you don't see your family very much? i see them all the time. did you finish your derivative pricing model, honey? for all the confidence you need. td ameritrade. you got this. >> >> the controversy over the foundation and the state department goes on and on. as a fund-raising arm of the foundation we ask a question 96 percent said yes. 4 percent said no. log on for the on-line question every weekday. another victory for consumers dropping ascertain from diet pepsi thinks to complaints they are replacing it with this plan that many consumers still
5:59 pm
feel it is dangerous. coke and pepsi blamed that for the struggling to indict it soda sales and will hit the shelves in august. i had the pleasure participating in the plant's power to prosper golf tournament despite rain we had a great time. the pga pro was on hand to give us a few pointers. check-in not today talking about the event. >> they did okay. [laughter] he had some talent that was nervous is in front of me. >> i am sure that you intimidate a lot of people. >> terry willis hit the the shot of the day that was is impressive. >> they did not show me. no video. and good luck next week in
6:00 pm
san francisco we will be routine for you. don't forget to watch us over if you cannot catch us live. >> another record day for nasdaq. breaking out to the new highs a bunch of industries because as investors it helps to have ideas now. i know that is part of the business but hollywood did not do so well. airlines and southwest airlines could regain what they had a dead guy in -- a decade ago united was hit hard. also the government i
71 Views
IN COLLECTIONS
FOX Business Television Archive Television Archive News Search ServiceUploaded by TV Archive on