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tv   The Willis Report  FOX Business  May 24, 2015 4:00am-5:01am EDT

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fuels the flames. as for climate change leave that for bill nye and the global warmist clown. it's beneath the office sir, our soldiers and veterans. "the willis report" is next. >> hello everyone. i'm gerri willis. this is the willis report, the show where consumers are our business. tonight the clinton foundation reveals millions of dollars in undisclosed payments. and hours later the state department releases the first wave of hillary's emails. but the clinton drama far from over. also americans hitting the road this holiday weekend in record numbers. but will a rise in gas prices ruin your summer plans? and are we creating a generation of moochers? why more and more millennials will hit up the bank of mom and dad. ♪ we begin tonight with new clinton cash coming to light. the clinton foundation is acknowledging millions of dollars in
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previously undisclosed donations. and you won't believe their latest excuse. plus new documents surfacing today reveal that hillary was pushing for nonprofit tax breaks while bill was soliciting a library donation. the first batch of hillary's benghazi emails finally coming to light. will this massive data dump bury hillary's chances of landing in the white house. we're asking john mccormick republican strategist adam. adam i'll start with you. what is the clinton's excuse for not previously disclosing these emails? >> it feels like bill and hillary can look this in the eye and say gosh, what's wrong here? everything is totally explainable. what we have is an effort by the clintons i think, to mask what has really happened in terms of the foundation and how they conduct themselves. not only in foreign policy but public policy. and even though we haven't yet found
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what they called the smoking gun, i can tell you the residue of gunpowder is everywhere. gerri: residue of gunpowder everywhere. $26 million in previously undisclosed donations to the foundation. when they're supposed to be making this public. i think that's a big smoking gun. you go to the website no disclosure on dates and locations of the speeches. no precise number. it's a range of what they got paid. these records, if you want to call them that, are so imprecise. i can't imagine if regular reporters reported like this, we'd be in big trouble. john, what do you say? >> they're trying to dump as much bad news before the memorial day weekend. $26 million in previously undisclosed payments that were supposedly revenue rather than money they earned. it doesn't make sense that distinction. speeches to big banks. foreign interests. then the benghazi emails. the most interesting thing in there so far.
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they were planning on talking about gadhafi. >> you put a lot in the answer. let's break it down. let's start with benghazi. unresolved issues remain. the state department transferred 300 messages exclusively reviewed and released by her own lawyers. these lawyers it must be noted owe and continually owe a fiduciary response to hillary clinton to protect her interest. trey gowdy, absolutely true. can we expect a lot from these emails? a lot of excitement about getting our hands on these emails. i have to tell you if they went through her lawyers how interesting can they be? >> probably more interesting than what we're hearing from hillary, which isn't much of anything. as she dodges the press and media at every turn. the problem is her biggest credential is her term as secretary of state. foreign policy should be her crowning glory. there will be one in her picks to the american public.
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it's starting to find out that may be the albatross that brings her down. >> she'll be in front of some congressional committee very soon. how will that go? >> they need to ask her she said there's no classified information going to this private email. today, some of these emails are released. they're redacted. if there's nothing classified in there. why the redactions. they need to press her on this point is libya do you want to claim ownership for this? that's what her aides said before it went to pieces with benghazi and the entire country is in shambles with radical islam that's on the rise. gerri: well, okay. that's a lot too. my big question tonight is. where is the server? can't we get our hands on the server and find out what really happened here? >> that's too logical a question gerri. i mean that's too logical. yes, we should be able to get our hands on it. of course, this isn't very dissimilar from the irs who claimed they
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couldn't find any emails. suddenly the emails started to appear from the outside. we need a president who is not only willing to delete but will square with us. and is someone we can trust. unfortunately the opening for this campaign for hillary has not been good on either front. gerri: john, i think you said something very, very very smart in this interview. here this information comes on the eve of a three-day holiday. the first holiday we've had in many months. and they're dumping. they're data dumping. they're hoping nobody pays attention to it. we go off on our vacations and never look emails or troll through some of this data that's been released. isn't this classic clinton? >> it's classic. hopefully the press will show backbone. maybe they'll actually dig through these scandal and see report them out outside of fox. gerri: well, from your lips to god's ear that's what i say. john and adam, thank you for coming on.
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great to see you. that wasn't the only news today, federal chairman janet yellen taking center stage. what will the fed do next? she gave fairly doveish remarks saying the fed is on track for a rate increase this year. she didn't say when. probably not soon. you've heard it before. right? markets barely reacted today. is the fed a toothless tiger? greg mcbride. greg great to have you here. is there anything new from her? or is it the same thing? >> same old same old, gerri. with good reason. the fed doesn't know when they'll raise interest rates. so this idea that saying, well, if the economy continues to improve like we think it will then we expect that we'll raise rates sometime this year. that's a lot like saying the sun will rise in the east tomorrow. gerri: well, you know, i think about some of the data points we've had this week and the last couple of weeks.
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you know lots of excitement in the new home market. right? builders there really want to build. in the existing home market, we have very negative numbers this week. it seems to be a tale of two cities. it seems there is no clear take on this economy, except that what we've seen in gdp which has been horrifically negative. 0.2% growth recently reported. that's just a disaster. what needs to be done here? >> well we're a slow-growth economy until proven otherwise. i think the fed even acknowledges that. one of the things that yellen said in her speech today, the projection of the fed for the next couple of years have us growing at 2.5%. that's just -- that's nothing to write home about. >> it's not just good enough. >> the missing ingredient in this recovery has been the lack of wage growth. that's really it. when people see more money in the paycheck. that's when housing will pick up. and when housing picks up that's when the
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economy will pick up. >> we desperately need that. american families desperately need that. i think that's what everyone is talking about around the kitchen table. how can we improve income? we can't pay off debt and get ourselves in a better position until we get more income. were there any clues at all from her statement from anything you saw about when these interest rates may go up? >> no. none at all. and with good reason. because janet yellen doesn't know when rates will go up. as you noted, you know, we've had so much uneven economic data. that's why the fed is really in this wait-and-see mode. the term they continue to use is data dependency. when and how much they raise interest rates will depend entirely on that economic data we see in the months ahead. >> i said in the beginning they're a toothless tiger. they sort of losed their mojo. nobody is listening to what they say, they think nothing will ever happen. do you think they've lost some credibility through this? >> you know, i don't know about that.
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i think the reality is, from a monetary standpoint they've been pushing on a a string for the past few years. top line revenue growth is nonexistent. as a result household income is nonexistent. tough to get the economy to grow fast when there's no demand and limited ability to put more money into people's paychecks. >> i'll give you a round robin of questions. for first mortgage rates. >> moved up a quarter of a percentage point in the last month. we'll see a little bit more. once the fed gets active. they'll probably settle in and pull back a little bit. >> home equity lines of credit. >> they will follow the fed higher. home equity loans, you'll see them move higher. but i think more in tune with mortgage rates than with the fed themselves. gerri: how about car loans? >> car loans, that's another one that will move higher. particularly once the fed gets active. but minimal impact on
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monthly payments. don't lose sleep on it. gerri: okay. credit card rates. always important. >> this one will follow the fed. it will stay in step with the federal reserve. gerri: sometimes they get right out in front and lead the way with credit card interest rates. >> for those with poor credit that's exactly what happened. gerri: have a great holiday weekend. great to see you. >> you as well. thank you gerri. gerri: a lot more to come this hour. including the latest on our fox business exclusive investigation into the questionable hiring practices of the faa. and, next, the bird flu outbreak is leaving the egg industry scrambling. about to make the cost of your breakfast sandwich more expensive. let us know what you think, tweet me. or send me an email. go to our website gerriwillis.com. we'll be right back.@?
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>> that massive bird flu outbreak across the us
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is causing an egg shortage. it wiped out about a third of the egg laying flock in iowa. that's the biggest egg producing state. egg prices have tripled. guess who gets to pay that? you and me. phil welcome back to the show. great to have you here my friend. so i can't get over these numbers. a carton of egg $2.03. i pay more here. that's the national average. up 70%. and some people say that consumers will pay an additional 7.5 billion because of this egg supply squeeze. what do you make of this price -- these prices? is this unprecedented? >> it is. wholesale egg prices are higher than ever before gerri. that's number one. number two, keep in mind we're talking about we've lost about 10% of the total us hen laying population. and there's no end in sight. we don't have -- haven't
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figured out what's going on with avian bird flu. it's predicted it will be worse. that there will be more hens. and it's not just hens we're talking. turkeys. ducks. we're talking about any bird. gerri: any bird. i have to tell you the numbers to me are astonishing. here's my real worry, phil. is that we'll import more and more and more of this foul to our shores from china. i'm just really worried that the food that will be in my supermarket will be subpar. >> and you should be. keep in mind that the reason it's expected that avian flu is here has to do with imported birds coming here. so this is not a us problem. and also let's not forget, you mentioned before earlier about the whole breakfast sandwich. fast food represents about $35 billion as it relates to breakfast. it's also about 25% of mcdonald's sales. so mcdonald's can't
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increase their prices. they're fighting taco bell and breakfast as it begins. mcdonald's is already in trouble. here's something else to put them in trouble. and probably, you know, the egg producers are throwing up their hands. because they're saying, you know, when the new dietary guidelines came out final the government said don't need to worry about cholesterol. go back to eggs. they're all smiles. oh, no. now we can't -- >> i forgot about that. finally eggs are okay with the federal government. now, it's hard to buy one. the egg laying flock out there is down 10%. they are destroying these flocks all over the country. does this have anything to do with the fact that these farms have gotten fewer and fewer and bigger and bigger millions of hens on individual farms individual companies? >> well that's not what created the avian flu problem. but certainly that
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exasergreats it. if it hits one of these factories. (?) you're talking about losing a lot of laying hens quickly. >> here are the numbers i've seen. in 1970 something like 10,000 egg farms. today, we have 200 egg companies. that's a big change. it seems to me, if one bird gets sick at one of these companies, so many more are at risk. right? >> well, yes and no. keep in mind, while there might be 200 companies. each of those companies might be using ten or 100 different farms that are independently owned. so we really have to go a little deeper into the numbers to figure out that problem. but to your point, you know if you've got one problem and it imaits throughout other farms.
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you have a big problem. >> i love eggs. great source of protein. eat them all the time. when will it be over? >> no one knows. that's the problem. and i hate to point a finger at the government. when you
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♪ gerri: buckle up, america. the busiest weekend on the roads in a decade. gas prices already rising. fox business' jeff flock joins us live from interstate 294 near chicago. that's specific. with the details. mr. flock. jeff: you just reminded me. i wasn't buckled up there. i just put it on. i thought, oh, shoot i need to put my seat belt on. i'm in trouble. i don't want to get an electronic ticket here. they said it would be a busy memorial day travel on the roads. take a look.
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we have a camera that gives you a picture of this. 37 million people going to travel. 33 million by car. most of them are here on the 294 expressway outside chicago. one of the reasons though that people are i think traveling more this year are gas prices. if you look at the last month or so, as you said, it hasn't been pretty. gas prices have been ticking up steadily. thirty-three out of 35 days, an uptick in gas prices. last memorial day compared to this one two years ago memorial day, gas prices are cheap. almost a dollar cheaper than they were last year. a lot of people, some of whom we talked to earlier today said it's ime to be on the road. doesn't cost us nearly what it did last year. there you go. gerri: gas prices lower, considerably. it was three and change last year.
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what about other memorial days? >> yeah, we took a look. cpi numbers out today. it gives us an opportunity to compare this memorial day with last. gas prices, i think it's 31-plus% down. but eating out, for example, up about 3% compared to this time last year. clothes and cars, pretty much unchanged. so the gas price is the thing that's putting people -- putting money back into people's pockets. and, of course leading to what we see out here which is not pretty. [laughter] gerri: did you ever predict you'd be sitting in a traffic jam and delivering a report at the same time? jeff: yeah. that's -- you know, with the technology these days you know it used to be, i could be sitting at home doing this. or in the studio. but, no, now, we have the ability to make ourselves miserable along with everyone else. gerri: well, jeff. that's terrific. have a great memorial day weekend, my friend.
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>> you too. i appreciate it. gerri: to packing up your suitcase and taking to the skies, we have it covered. mike tobin at o'hare national airport. >> the problem with all those airline fees is that they're working. to the tune of $6 billion worldwide. spirit airline charges for everything has got the best profit margin in the industry. the rest of the industry is looking at their model. to you that means you'll pay for something like an assigned seat. more leg room, that's a fee. you want to exit early that's an additional fee. the baggage fees have been working. they're not going anywhere. if anything they'll get more expensive. >> my least favorite if i may say, some of these airlines charge you for everything. you know, you use the overhead. they charge you. you want a cup of coffee they charge you. >> when you look at it i think the airline
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loses a little bit of the customer's perspective when, you know as a customer, they try to put themselves into the customer's shoes. what you have to go through during that process. what's your experience? >> air canada has begun posting agents at security and ticketing to make certain that the overhead bags and carry-ons will fit in the overhead. that's the one idea that we found with travelers at o'hare. it eliminates that logjam and someone is trying to stuff something into the overhead that just won't go. >> people come with such huge luggage. that takes the the whole space. you can share more space with others. >> to end on a positive note industry-wide they'll add 300 new aircraft and phase out the old smaller jets. there will be new technology and nifty gadgets like on-board wi-fi. to use the wi-fi,
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there's a fee for that. gerri, back to you. gerri: thanks, mike. for that. i have to share. we have a press release from the national highway safety traffic administration. they have advice for you. if you're driving this week. what do they say? be careful. right. the government bureaucrats want to make sure you buckle your seat belt. don't drink and drive. and, oh, get regular maintenance for your car. you know, tune-ups and oil changes. hey, thanks nhtsa. the hard truth is this, the maintenance one of seven vehicles in this country is the installation of air bags. your organization slow and lackluster efforts means millions of people have been driving around with defective and dangerous air bags for years and will likely continue doing so for another five years. so nhtsa, enjoy your holiday. and keep your fingers crossed that nobody else gets hurt. coming up later in the show how retailers and restaurants are saluting our nation's heroes this weekend.
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and coming up, our fox business exclusive investigation into the trouble in the skies continues. one of the key players at the center of the cheating scandal finally responds. and here's your consumer gauge with the numbers that mean the most to you. we'll be right back. ♪
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♪ gerri: welcome back to the willis report. in a moment adam shapiro has the latest developments in the fox business investigation into the faa's questionable hiring practices of air traffic controllers. but it's time now for a look at other stories in the news. two california men have been arrested on terrorism charges. one of the men was arrested at los angeles international airport. prosecutors say the suspects wanted to be martyrs for isis. and listen to this. major health insurers in
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some states are proposing to hike their rates and some premiums could jump more than 50%. insurers are blaming high medical costs by people newly enrolled by obamacare for the hikes. and an earthquake with a magnitude of 5.4 struck south nevada near las vegas. according to the us geological survey. no injuries have been reported. the likely -- the outbreak sickened 53 people in nine states. according to health officials, nearly all of the sick people ate sushi during the week before they fell ill. those are some of the stories in the news tonight. well all this week we've been exposing how some top managers at the faa encouraged cheating on the traffic control test. it was a government effort to get more minorities hired by the
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agency. >> it's only growing worse. this reaches right into the offices of the faa. their human resources offices. and we've already introduced you to the man who sent voice text imagine. shelton snow. an faa manager. he's an air traffic controller. he's been promoted to front line manager in new york. he's also the head of -- he instructed people not only how to cheat on the entrance exam. he also puts the finger on the hr department. listen to what he said. >> allow me to go to work and come home provide you with an email that will be extremely crucial in the opening stages of this hiring process. >> i have a good mind to send it to one of my hr representatives first and give them the opportunity to sign off i but in the sake of time, i'm going to send it directly to you because i'm about 99.99% sure
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that it's exactly how you need to answer each question in order to get through the first phase. >> now, it's important to let you know that we have been offering shelton snow the opportunity to explain the entire voice message, what was he talking about, to whom was he sending this, why, was he cheating. he's never denied it. he has never responded to us, except to say do not contact me and no comment. no comment. no comment. the nbc fee we've also reached out to them. going all the way back to january 13. their president has never responded to fox business. she hung up the phone on me today. she issued a statement to her membership in a letter posted on twitter. she said, the nbc fee has never authorized promoted engaged or supported any effort to undermine the testing process for prospective air traffic controllers. any assertion to the contrary is untrue and unfound. the federal aviation administration refuses
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to comment on this. they've had three days every day -- we've called them to ask for a response to our report. they've remained silent. we've asked the department of transportation to look into this and respond to this. they have not commented. people in the hr department it appears who are helping people cheat. gerri: such a terrific story. all this weekend on fox business we'll reair that special. >> we'll reair the special. if you fly, and most of us fly at some point, the people coming into the air traffic control towers the faa says they're thoroughly qualified how can that be if you're letting people cheat on the clearance exam to let them in? 600 have already gone through basics and are now in the control centers and the towers. the faa doesn't answer specific questions about those people. it is a nightmare that's unfolding. >> a nightmare unfolding. adam, thank you so much. i know you'll continue to cover it next week. as we said, it will be reairing all weekend.
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log on to foxbusiness.com to find the times of day that you can tune in and see that special. and coming up next, the popular website for car buyers. it's hit with a lawsuit. but is it legal? later, is the bank of mom and dad still open for business? even if your child is an adult, next, we're creating a generation of moochers? personal finance expert larry weighs in with his thoughts. there he is right there. ♪
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♪ gerri: the car shopping website true car is being sued, sued by auto dealers in california. they want to stop true car giving consumers so much information on car prices. now, the reason is simple. those dealers have seen their profit margins fall sharply as folks go online to look at deals. our attorneys mark and barbara. i hope i pronounced it
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correctly. i will start with you. the bottom line here is, websites like true car have given consumers a lot of power. 80% of car buyers now use websites like these to actually go purchase a car. so isn't this all good news? the days of haggling are over? >> well gerri, i think the days of haggling first of all are not necessarily over. however, what this is really about is simple. it is enforcement of the laws. this is not the wild west. it might be california. but it's not the wild west. we have laws. and the laws should be followed. if true car is functioning as a broker then true car should simply be licensed as a broker as a dealer, as all other car dealerships are. >> the allegation here is that they're functioning as a broker. and, of course there are state regulators in california. if that were the case, wouldn't the state regulators come after them?
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>> exactly right. you're making precisely the right point. this is a private suit brought by the auto dealers who are all revved up for an obvious reason. the idea that this is a lawsuit about consumer protection is truly laughable. the dealers are concerned about one thing. and one thing only. gerri: the money. the money. >> true car is a service that provides objective comparative information so consumers can make better choices. as opposed to the open opaque. >> let's give barbara a chance to get in. how we get paid has nothing to do with whether we're a broker or a dealer. do you agree with that? >> no. being a broker is arranging or assisting a car transaction. gerri: is that a legal definition? >> that's the legal definition in the statute. what true car does is first of all the dealers are paying true car a fee. is that transparent? no. most consumers don't know that.
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true car's website is no surprises. i say, surprise! we're being paid by the dealer. gerri: but they only get that fee if they sell a car. right? >> that's exactly right. and i don't think true car holds itself out as a not fora not-for-profit. unlike the typical broker the fee they get has no relation to the fee of the car. >> that's true. let's go back to the law. sorry to do that. but i'm a lawyer. all the car dealership association is asking that true car abide by the law. gerri: are they breaking the law? >> they're not breaking the law. the lawsuit will determine whether they're a broker or dealer of cars. i think we all agree. they're not a dealer. they don't sell cars or car parts. what you see the auto dealers association doing in the lawsuit, they somehow arrange for the transaction. they arrange for the sale. the guy holding a sign
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that says eat at joes. nobody thinks he's the broker for the restaurant. gerri: i don't know if that's perfectly parallel. let me ask you this, look auto dealers have basically lost their profit margin because these websites. no surprise they're fighting back because of this. don't they want these sites to stop showing the invoice price. that's how they show power. >> that's exactly right. they don't want the process to be transparent. we're talking about a decades old model that doesn't have transparency for the consumer. all the website is doing providing visibility in the process so consumers can make informed decisions. gerri: what's wrong with that? >> there's nothing wrong with that. this lawsuit is not putting true car out of business. all they're asking in the lawsuit is that true carb licensed. true car isn't going to be out of business. the car dealers aren't afraid of true car. gerri: somehow, i think their
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interests go deeper than that. am i wrong? >> no you're exactly right. they say right in their own complaint. one of their key -- the promotion of regulatory climate for a robust climate for car dealerships. gerri: it's interesting. not all california dealers as well. it's a fascinating story. as we've seen time and time again the internet disaggregated so many industries. people can't find their feet. there's no surprise. a big fight. mark and barbara, thank you for coming. a look at our nation's moochers. parents supporting their adult children like never before. many parents are approaching retirement with massive student debt loads. time to kick your kid off the coach? larry winget we're asking him. larry, we saw this story. i knew immediately this was for you, my friend. what do you make of these moochers? >> you know if you're 30 years old and you live with mom and dad
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you are failing as an adult. and if you're 30-year-old kid still lives with you you have failed as a parent. now, that fires people up. but the whole goal of parenting is independence. >> is it the parent's fault? >> absolutely. i think it's the parents fault because they didn't teach their kids the skills to go out and make it on their own. and they somehow taught their kids that it's okay to move back in. it's not okay. so as parents when your kids are little you have to teach them to go away. gerri: i talk to these kids. they can't find a job. they have no money. they have a ton of college debt. a couple of nights a month on the couch. why shouldn't they? >> you know, i'm not buying the whole can't find a job. i think sometimes they won't find a job because they're interested in pursuing their career. sometimes you set your career on hold and don't worry about following your dreams and your bliss and you just get a
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job to pay off your student loan debt and to support yourself. gerri: i agree. i'm playing devil's advocate here. i have to tell you, i'm on your side on this one. i want you to hear what charlie gasparino had to say on neil cavuto's show on this topic. charlie: you millennials are moving in mooching off your parents. >> am i? charlie: you complain you don't make enough money. i'm using the term broadly. >> you didn't say the same when you were their age? >> they're the ones who helped put obama into office. >> i mean, i'm working hard. i have more than one job. and they're allowing me to save money so that i can buy my own house. >> does your mom cook for you too? >> sometimes on sundays. gerri: there you have it. i'm doing the right thing. i'm saving money for a house. is that an answer? >> it's an answer. doesn't make it a particularly good answer. still it goes back to mom and daddy setting up the expectation that this is okay. and really mommies and daddies have to get
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control of their own households and understand they're compliefgcomprising their own future. if they keep supporting their children, at some point they'll be too old to still bring in income, and they'll be relying on their children to take care of them. there will not be enough money to go around in both directions. kids need to go out and earn their own money. if that means you need to kick them out kick them out. gerri: 36% of millennials expect -- pardon me. 36% of parents expect to support kids two years after graduation from 18% in 2014. 16% expect to support them for five years. five years! >> yeah. that's a mess. again, i think it's because we have too many graduates that are out there thinking that they've got to find exactly the right job. and they go home to mommy and daddy. and say, mom and daddy there isn't anything out
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there for me. after all, my degree is puppetry i'm having a hard time finding a job. >> underwater basket weaving. you can't find anything in that anymore. >> isn't that amazing? mommy and daddy have to be tough. it's mom and dad with a guilty conscience that are willing to support their kid. stop having a guilty conscience. you should have done a better job in teaching them to take care of themselves. don't feel guilty about it now and become an enabler. being an enabler weakens your children. it doesn't make them better. so it will be tough. teach them to buddy up. find some more in the same situation and share expenses. that's what it's about when you're first getting started. >> that's right larry. thank you for coming on the show. great to see you. we want to know what you think. are you supporting an adult child?
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log on and vote. i'll share the results at the end of tonight's show. can't wait to see that. the retail advice you need to know before heading to the mall this weekend. how to find the best deals coming up. ♪
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♪ gerri: here comes memorial day. often seen as the official start of summer and associated with picnics barbecues, and of course deep discounts at the mall. so if you're going shopping, where can you get the best deal? what should you be buying and what should you be passing by? patriarch eric shipper
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is on the show. what will be the good deals? always times to buy things and not others. >> happy memorial day weekend. i think cars number one. that's one of the biggest things that i think consumers are going to want to look at. there are three reasons for it. there are great -- there's great financing. i mean, some of the lowest rates ever. you have manufacture incentives. another big thing. you also have high trade-in values. that's one of the areas. the other is spring clothing. you can get savings from 50 to 80%. sometimes even higher at stores like macy's and jcpenney, et cetera. appliances are another area. those are the areas that i like to -- >> memorial day is to honor vets. there are lots of deals just for veterans. what do you recommend? >> there really are all different kinds of places to go. you know i would recommend online. i mean, there's so many
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different ones. i wouldn't want to give one specific case. but many stores in particular are offering it. i like to suggest that people go and search online specifically for deals for veterans. >> all right. and i know a lot of restaurants out there are offering special deals. the big chains are offering special deals. i want to talk to you about another trend here. that's retail markdowns. this is so interesting. customers have figured this out. the deals are better often now at the major stores rather than at the outlet malls. why is this happening? >> well what's happening are retailers are being attacked on two different areas. one, the web. and two these outlets. so they figure the only way they can compete in a successful way is they have to get really good at pricing. so when you go into a mall today, as you know, they're like ghost towns. they've tried to make the consumer experience a really good one given that consumers are so
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focused on the best possible deals coming out of what has been one of the hardest recessions ever. >> and i understand that outlet attendance is down why is that? >> well, it's down somewhat. and it's largely from the web. the web, as you said on an earlier segment. there's this disaggregation. retailers are not immune. >> before we go, i want to show the full screen on memorial day deals. this is the payoff for this segment. ace. banana republic. best buy. home depot. sports authority. office depot. you name it. everyone has a sail sale this weekend. thank you for your time. we'll be right back.
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>> gerri: almost 70% expect
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payment from parents after graduation are you supporting an adult child? 18 percent said yes 82 percent said no. log on for the question every weekday. what a college graduate who could still get a pass is one "yeah, buts" year-old abraham who graduated this week from college in sacramento with 4.zero gpa and three associate degrees and is that much of of big deal to become the medical doctor or researcher or president of united states. we wish him the best of luck. thank you for joining us "making money" is coming up
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next. have a great holiday weekend and enjoy your time off. us tonight, thank you for joining us happy memorial da ready to light up that grill? careful, you don't get burned. welcome, everybody. i'm neil cavuto. and how's this for a barbecue kick in the buns? the cost of the burgers are rocketing. ground beef is nearly 14% pricier now than this time last year. hot dogs about 8% more. cheddar about 3% more. look at lettuce, i warned you about vegetables 8.5% pricier. the good news is the price of chicken has barely budged and pickles are still a bargain. get grilling just be careful not to get fried. we have the guy to make sure you are not. phil is here to help. the argument is we need help

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