what we thought about it. i disagree with so much. stuart: you used all the time for a year-and-a-half, you have not put it away and forgotten about it. >> it is useful for your health and your body. stuart: stock is up again after the intro yesterday. neil cavuto, it is yours. neil: thank you very much. time to have another connolly. it went by fast. as you have been reporting greece is it out of the woods or in the woods? the imf walked out of these talks giving them more money but there are other sources and what we are following at this hour is the fact that europeans are scrambling to keep greece happy? greece has other friends in higher places. we will tell you what the minister is doing with the russian president. it is a little weird but in the meantime this comes at a time there is a concern there's a run on the banks, greece instituted

no limit how much cash you could take out but of course we have seen 3 billion euros leave the greek banking system over the last weeks of if that were to continue there would be concerns. our markets are not really reacting too negatively to this. this could be a problem. connell mcshane has been following all of the above. connell: that number is going up because that trend is continuing at least into today as we get new numbers on friday. there is concern. is feeling is something similar to what we stand in 2008 in the united states, concern on friday what monday will look like. some people would rather be safe and sorry. 1.2 billion euros today according to reuters withdrawn from greek bank's bringing the total up over 4.2 billion euros in out flows. this is a trend we should point out has been going on for some time. the number year to date in terms

of money coming out of the greek banking system is 40 billion euros plus. sounds like a 25% deposit. the trend is accelerated the last couple days, a billion euros plus two days in a row. the question, you hit on this at the top, does this continue and when you are on friday afternoon our time and evening over in europe, you are starting to worry what men they will look like a little bit. neil: are they saying that they are trying to avoid putting limits on withdrawals because that would trigger the panic they're trying to avoid. >> exactly right. you see people say if i can't take it out now i'd better get to the bank in a hurry because something really must be wrong. european central bank raised liquidity ceiling meaning banks have more access to cash, liquidity from the central bank said that helps out a little bit or that is the hope.

neil: thank you very much. we will follow the repercussions of this. there is a distinct possibility this accelerate in the venture will be run out of money in the banking system and people at home are getting nervous or thinking what currency they have will be worthless or can't get their hands on it. we have seen this happen in the last century of few times and it never has a good ending. dagen mcdowell on what this means. are markets kind of nonplussed by its of our. should they be? dagen: they shouldn't be. this has gotten kicked down far enough. the real threat that connects greece to the rest of the world would be the european banking system. mark zany talking about that this morning, european banks three years ago known the lot of greed that, they didn't have a lot of capital. three years later they don't have the greek that and have a lot more capital. neil: why should i worry? dagen: there are other nations

in precarious financial situations, portugal and spain, you have a rise in anti austerity politics in this country which is the problem you see with greece, cyprus moved in earlier this year, way left and they are fighting these austerity measures. he is doing it for the people who put him in power but that is why the impasse exists, they don't want to cut pensions or raise their value-added tax anymore and that is where we are left. neil: i understand how bloated the government is in greece and all these new trends, bureaucracy, but there is something to what the greek prime minister says. where is the carrot? i see a lot of sticks but no carrot. what can be done to help us so we have nothing but red? like going on a diet, is there one day you can sheet during the week? all we do is hammered them. i wonder if that is the problem.

the way we force these accords down countries's throats is the problem. >> look. if you have kids at college and he has drawn down his bank account to negative balance and maxed out his credit card and calls you and wants more money, are we supposed to give him just a little bit more money or are we supposed to say you got to make it to next month, next quarter because you spent -- learn to live on a budget. neil: i don't know. >> i think what you do is say even the cafeteria at the dorm and wait till next quarter and you get your money back and here is the problem. they already had the carriage. when i was on spring break my tweet was we had a vote by family and decided germany should pay for our spring break. the bottom line is that is what

the greeks are saying. we don't want to pay for anything, we want greek taxpayers, german taxpayers, german families to pay for the promises we made. it is really painful but here is the thing. i will disagree with dagen mcdowell little bit, greece is a $240 billion economy, probably less than that today. deflate metro area is $224 billion, the same size, detroit went bankrupt. greece goes bankrupt, if i were not living in spain and portugal and watched the devastation in the greek economy, i won't want to follow that. dagen: i want greece to get going. leave out the euro zone. neil: qualifies for that club is germany. dagen: there is zero financial

impact if greece falls. you need to watch those countries if greece goes. neil: what if the whole thing goes? that will happen. the european union is gone. dagen: that is so far down the road. neil: on paper makes good sense but we have faith in our country but they are part of the same federal government, you cannot make that analogy in europe and the underpinnings of this whole union refracted to begin with and now the chickens in europe are coming home to roost. >> robert mandel was the economist who invented the euro and what he said is these countries what they normally do is the value, take the money from the people by inflation, devaluing the currency and politicians usually get away with that because people don't understand what that does to them even though it crushes from. now they can't do that suppose

this forces politicians to make cuts. they don't want to. it is working. believe it or not if greece goes bankrupt this is of a good thing for the year of because it proves you have to run your fiscal policy is -- neil: a stupid question. i want to thank you both. the reason we see the european central bank move to help greece may have to do with vladimir putin meeting with prime minister of greece cyprus and that is in st. petersburg, russia amid raised eyebrows. what is he doing? trying to play one against the other? we got a report out of the kremlin, a spokesperson saying there was no discussion of financial aid to greece at diss cyprus talk but you worry and the clear inference is you have a greek prime minister and i have other friends. that other french in this case

worries ben collins. your fear, worms his way into europe. >> the greek prime minister is playing with fire. even if they do go to russia for this cash the reality is they will be kicking the default can down the road by a few months and what is at stake for vladimir putin is building a gas pipeline through greece into europe since he lost the ability since his invasion in ukraine. stuart: that pipeline extension both countries want to do, both would pay for it, russia takes more of it, that is an instant link the countries have, a strong financial one. >> certainly but as john said in the last segment the reality is if greece does exit they have to transition back to the draw, but it will be so devalued that

imports will skyrocket and the greek people are going to be punished for that. >> what these countries are worried about is greece chips so far, goes almost into becoming a russian satellite state and is no longer part of greater europe in the nato frame of things. what do you think of that? >> it is a great comment because the reality is there is some posturing taking place and something that is actually feasible. in this case the russians have the upper hand although russia doesn't have the money. their currency has fallen because of the oil prices already so they don't have the ability to do this. it is a lot of posturing. on the one hand the greeks are embarrassed and feel we are punishing or the euro zone are punishing them and at least

vladimir putin, inga go to move since the reform out of the 90s is to blame everything on the west as we discussed moving military assets closer in europe and nato expanding intercontinental ballistic missiles so there's a lot of leveraging. neil: always good stuff. i appreciate it. then we have the trade. this was the week they finally called together something in the house the senate has to agree on but we are nowhere near both parties agreeing particularly democrats who are rebellious when it comes to their own president. capitol hill producer joins us out of washington. >> i met a faith and freedom coalition where a lot of presidential hopefuls are talking and one of the speaker's earlier in this morning was senate majority leader mitch

mcconnell. the house of representatives passed just solo the underlying trade framework. they had to decouple this from trade adjustment assistance which failed in the house of representatives and they will study new process in the senate next week. listen to this. >> we have reconstructed the process, it gives us a chance to succeed on trade promotion authority and important to remember we are optimistic have the same though we had last week. >> i talked to mcconnell a few minutes ago about this and he is pretty optimistic, very key to have these 14 democrats vote yes because you have to get through 1 procedural grounds and there's a simple majority that pass this in the senate and they put these bills apart. they go on together with 62-37. of those 14 don't hold together they are in trouble. neil: the likelihood of a trade

deal stands before the july 4th recess is what? >> they will work hard to get this done this week. they are leary about this holding out over the fourth of july recess. that is where they have to get this knocked out this week. trade promotion authority will come first and we have trade adjustment assistance and we have democrats who say they voted against the this. tom harper of delaware who has been pro trade said the democrats vote no on this they will have a lot of explaining to do. steve israel from new york, top. steve our own noses to spite ep

is targeting them and these guys are not too happy. the battle in suing as we speak. v

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responding to all this saying i was extremely surprised to learn donald was running for president and even more surprised that he stated he would make me secretary of the treasury. i am flattered but denied that the early enough in the morning to accept this opportunity. we hope to have carl icahn join us on this very show with trish regan who has good contacts with him at a little bit later but that does seem to be his way of saying thanks but no thanks. now this. >> this pope to go out on a speculative subject such as global warming, he is condemning many more of these billions of people to energy poverty. they want one light bulb. this global warming isn't even happening. neil: that was a big coal ceo taking on the pope on the idea that climate change is impoverishing the world and hurting the poor even more.

now some new rules from the epa pounding the point home the we have to do something about this. the man we call the holiest on the planet, these epa rules would go into effect for anything big on the road. we are talking tractor trailers, delivery trucks, school buses. they make up a small percentage of vehicles actually on the road but according to the epa they account for the lion's share of the smoke and yet we breathe in on the road. ashley pratt says that is as to the argument, against the epa rules, michael, saying her argument, it is a stupid argument. you don't like what they're doing and furthermore just essentially agency. >> the epa is known for its oversregulation. just before this which this is the second phase they're trying to reduce carbon emissions process which is more of an economic burden and it will cause a lot of burden on

consumers who are purchasing vehicles or the school buses in the amount of fuel and that is one thing they are trying to target but what they are not realizing is in this process the research and everything the goes into it will cost a lot of money. they started doing this, trying to control barbecues, the amount of time you shower. it is the regulation they love because president obama made it a cornerstone of his agenda. he wants to be known for his action on climate change. neil: you agree with pretty much everything she said. >> absolutely not. i think this is the right regulation. it is correct that when you look at school buses or passenger buses or trucks it is a small percentage of the vehicles on a road that they cause a tremendous amount of harm especially because a lot of them are clustered in close quarters in ordinary yes. >> it is important.

>> spending more is important when you talk about the others end of engaging people's lives and extending -- >> coal institutions, fire utility plants are 80% cleaner than they were seven years ago. not good enough, he is worried and is laying off people because the new regulations and those coming down the pike he can't keep up with and people's utility bills are starting to go up. you think that is okay? >> think of it this way. if you look at new york city, 75% of a food in new york city comes over one bridge and the fact that you have buses and trucks that essential because traffic in some densely populated neighborhoods which create these asthma clusters. talk about the expense of this, you pay this money now front to get these trucks and vehicles

cleaner or you -- neil: they're already clean air. >> you have people getting sick. neil: is not enough? >> i completely agree with you for. i want to go to that point this is the second phase. they have already done it. cars have complied. we have seen buses become more fuel efficient and, let's spend more money on the consumer, put more restrictions on businesses just to regulate something. i live in d.c. and is full of hot air but not to to climate change. i will leave at that. neil: thank you both. these are proposals, not hard and fast rules going into affect any time soon but they likely will. we talked about carl icahn and the fact that donald trump would make an excellent treasury sector, carl icahn flattered but i think he is saying not interested. he is coming up.

neil: those of you who are regular viewers of the show, i don't strike you as a fit but enthusiasts but i could say the thing to any stock that in the course of 24 hours back accompanied that suddenly worth $7 billion. might issue is not the fitness part of it but with a rather these run ups and ibms justified when they get ahead of themselves and does that feel too frothy? i raise that with king digital, the same ipo, take a look. >> the rush the for the crush. >> heat to burst your bubble, but i think this is a bubble, that is just me but you should listen to me because i'm never wrong. >> $8 billion, that is not candy. it is cocaine. neil: my only issued, nothing against the popularity of candy crush or whenever the game is,

it is a one trick pony and this was a multibillion-dollar valuation for a company that depended on a one trick popular pony that is losing its appeal as has the stock since that offering down in excess of 30%. that is the danger, the warning about writing froth. i am not saying there will be survivors in this big internet boom and all the beneficiaries of new offerings that come to the market or that it is necessarily like to thousand. i am just saying you got to be careful, market watch or keith fitzgerald on how you play, promises versus those who will yield profits. what do you think? >> in the early days when you took a company public you did the based on business prospects and real result. silicon valley takes the company public based on potential and leave the investors who buy an ipo holding the bag, behind the lines on the founders and investment bankers and of nearly stage investors, they are leading you to turn the lights out so this is risky.

neil: the argument is they have promising technology, many making technology, and a winning brand. i take nothing away from that. what i question is the valuation awarded to that. >> exactly. they have something like 19 million registered users, 9.5 million active users. that tells me roughly half the users the ever tried this thing try it, lose interest, put it in a 4, it is a one trick pony as you point out and it reminds me of gold pro, skull candy and even twitter, people leave. neil: do you think that is what we're looking at with the latest wave? we are back where we were in march of 2000 at these levels in the lot of people say everything old is new again but it won't be like it was back then. what do you think? >> those are dangerous words, it will be different with this time. noaa won't unless you have an underlying fundamentally sound

reason for investing in a company and a one trick pony is not it. hope is not a viable investment strategy. neil: thank you, keith fitzgerald. peter barnes, a new report that essentially comes to question what happens if the affordable care act unravels or more to the point of the supreme court were to jump those subsidies that is the underpinning for all of us who can't afford it any other way. i think what they are seeing is this could add to the deficit. is that the gist of it? >> that is right. in a new report out today, repealing obamacare totally would increase the deficit by $137 billion over the next ten years and here is how it got to that number. it projects the government spending on medicare and other health care programs would rise faster without obamacare because as you recall repealing obamacare would eliminate the medicare cuts under the law for example. the government would also lose those tax revenues from obamacare penalties and taxes l.a. first ending obama care

would increase deficits by $350 billion over ten years but without obamacare, this is the important part, the economy would grow more, gdp would be higher, producing more hours worked and more jobs because of less regulation so that would end up adding to $216 billion more in payroll taxes and other revenues of net net 1 thirty-second billion dollars in deficits but cbo also says repealing obamacare would reduce the number of uninsured americans by 19 million in 2016 as insurance subsidies and expansion in medicaid would also go away. warner: something for each side to pounce on to support their argument. peter barnes in washington. you know him as a corporate raider almost second and none. very rich. carl icahn. would he be tempted, remotely tempted, kind of tempted, now

and then tempted to drop l.a. to become treasury secretary of the united states? latest read from trish regan, probably not. carl icahn as well. after this. you probably know xerox as the company that's all about printing. but did you know we also support hospitals using electronic health records for more than 30 million patients? or that our software helps over 20 million smartphone users remotely configure e-mail every month? or how about processing nearly $5 billion in electronic toll payments a year? in fact, today's xerox is working in surprising ways to help companies simplify the way work gets done

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neil: all right. we are a long way from the presidential election but donald trump is already kind of a imagining what his cabinet would look like. apparently not only interested in oprah to be his vice president, would make a great vice president, who would deny, that but someone else as

treasury secretary which would make a great treasury secretary, certainly good with money, carl icahn. trish regan is following the development and has carl with us right now. >> thanks very much, neil. go to carl icahn, would you become the next treasury secretary of the united states, carl? >> as i said in my tweet i guess i would not, i sleep too late in the morning. but, go ahead, trish. >> but you know, you do have a relationship with donald trump. you told me in the past that you like him. what are your thoughts on him as president? >> well, donald and i have been friends for years. actually i haven't spoken to him for the last four or five months. i was surprised when he put that out about my being secretary of the treasury, or that even had thrown his hat into the ring but what i have said on my tweet and what i will repeat is, that he's right on one thing, that i

believe, financial markets believe there really is a bubble brewing, just as in '07 i was very cautious and believed that the housing market would blow up, i will tell you that that time everybody said that. nobody did anything built. interest rates are at a low in the history of the federal reserve. they have never been held down this long and i don't think anyone will deny that it is uncharted territory. and, it could be very, very, destructive to our markets and our economy because it is sort of like a drug. you become ad i can dicked to that drug and when you take that drug, the longer you take it, the more difficult it is to get off of it. you don't know what happens to the patient when you take them off, when you're doing something that is uncharted. i think the fed did a great job

in '08, great job. i think saved the whole financial community. many of the very same people that took advantage in '07 are taking advantage of the situation today. then every time the fed wants to raise rates or talks about that temper tantrum, it is almost like a baby crying that they want their candy or they want whatever you're feeding them. and the fed gives in to them. i personally own a lot of stocks and so i'm not saying this because i am being hurt by this. but the real issue is what is good for our financial markets? i think donald is right speaking out. very few other people are speaking out. neil: carl, good have you have, neil cavuto here. donald trump is saying on issue it is on helium and unrealistic. paul volcker when he was here

with us, more or less saying the same thing, say this can't go on forever but unwinding that will be tough, right? volcker said, any fed chair will tell you he or she looks at market impact of their decisions but this has gone maybe too far and that unwinding that or shaking the markets of this notion that the fed >> you asked a lot of questions, neil. i believe it is risky what they're doing because nobody knows what will happen. this market is being built and this is something i feel, with

all modesty i know something about. this market is built on earnings. everybody loves to see earnings, how well you're doing. the earnings, if you really dig into them are built on these very low interest rates because you don't have to be genius or great ceo to understand if you can borrow money at 4% or 5%, incidentally the high yield market is the most dangerous. and you could borrow money at some double b company, bbb company borrow at 5.125% you don't have to be genius i take the money, go buy another company. buy some stocks out there and i will synergize. i pill put them in even if it doesn't fit with my company i don't like what i'm buying, i'm a ceo. a lot of ceos are looking next year where the options come due, hey, i'm borrowing 4% and i'm making 12% because of my synergies. i my sales go up. make more money.

market loves me. the market looks quarter to quarter unfortunately. as a result you see a market that is going up artificially. also, a lot of these guys are buying back stock. now i would like to see apple buy more stock but apple can afford to buy more stock back. they have $178 billion or more. 190 billion. but a lot of these companies are buying stock back, if you look at their balance sheet they have no net worth. so you're building, i believe a bubble just like, i guess, volcker said it an donald said it. and you know, some people don't agree with donald on a lot of things. some do. but the one thing you can say about donald that think is great, he will say what he believes. he is not afraid to say it. and you should really talk about what is happening in our economy and, i think it is, it could be extremely dangerous. >> a little like you. says what he thinks, carl. >> i think donald does it more

than i do. >> maybe just a touch there. but you're tough one to beat on that. what would you tell janet yellen and company to do then right now, if you, if you could sit down with them -- >> i mean they're not calling for my advice but i would say definitely start raising these rates. raise, you know the fed funds rates leads the market. you should start raising them, stop with all the dots and stop with the inflation rate is up a quarter and looking at data and i have to look at data. there is more to looking at data making investment decisions. here you're making investment decisions for the whole country. there is a lot more than data. it becomes instinctive. i really believe the great investors have great instincts. instincts now tell you, hey, let stop this. stop going on this joyride. let's start raising rates right now. they should have done it three months ago. and stop worrying what the

market is going to think of it. and you know, look, i got great respect for janet yellen and for the federal reserve. i want to make it clear, they saved this country but i will say to you that right now stop worrying what the market will do. the fed's role is to keep inflation down, employment high. not to keep the market high. what she was doing on the last meeting, i want you to know i will do it very gradually, don't worry. like talking to a child and you want the child to do something, keep saying to them, do this, do that. the fed, it is like, it is really pandering to a lot of these guys on wall street that shouldn't be pandered too. a lot of these guys are my friends but they want to see their funds go higher. and therefore, they start really complaining that the market goes down. but what is going to happen, sooner or later you have to raise these rates.

i don't think anybody, including fed denies that because you just can't have it at 0% forever. never ever, ever been even close to this long that they kept rates down at this level. a lot of smart guys have said this nobody really speaks out about it. it was exactly like the housing bubble. everybody was taking advantage of it. nobody talked about it but everybody knew it was a problem. neil: you seem to say rates should go up and fed should not be paying attention to market impact if they do a tantrum. i guess depends how much rates go up. >> you're not going to raise them up 100 basis points in one day i guess but you could start. neil: are you out of the market? you said you're invested but -- >> i tell you i'm talking against my own book so to speak. look, i have big hedges on but certainly not enough against my long positions. but those are things that i have to do. i have these big positions. i'm onboard. so whatever. you know, i'm a big boy.

a lot of these investors should be big boys. you go along but you can't watch this, what is happening now, is extremely dangerous. and donald has pointed it out. i mean, i can't say the way he said it is correct but, he said it very bluntly. that we're in a major bubble and i agree with him. neil: all right. >> by the way the fed in fed minutes in april said it was dangerous. neil: they did say the same thing. you would have to be less blunt if you were treasury secretary. >> i don't know if i could be. >> can imagine carl and donald. hey it, would be a lot of fun. >> just gave me another reason i shouldn't do it. neil: carl, thank you very much. trish, always good seeing you. thank you for arranging this. meantime charlie gasparino, has been listening to all of this. gasparino what he makes of this. that bubble concern and that

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>> he is right on one thing. financial markets i believe there is a bubble brewing. charlie gasparino joining us. >> carl icahn and i are very good friends. neil: you're an idiot. >> i sound more like carl icahn than carl icahn sounds. neil: do you think he is right? >> i love trish, let me tell you. neil: who is right? >> trump or icahn? neil: you don't think trump is serious? >> i don't. listen, i think it is funny carl

picked out the most meaningless part of his speech, there is a bubble. all the other stuff about mexicans running over the border and this lunacy that donald said in that speech kind of got goesed over. neil: i don't think it got glossed over. >> he didn't talk about. listen, here is what i think, i like donald. he is amazing businessman. he is the best marketer ever. he will use the presidential stuff as long as he markets himself. neil: you don't think it's a serious quest? >> here is why i don't. he will disclose exactly how much he is worth. neil: 30 days. >> let's see if he does that. trish: he had so many opportunities to run before. he talked about it. talked about it with you. he saw, maybe he finally did it. why do it this time versus any other time? maybe he thinks what he has to say will resonate a little more. i got to tell you -- neil: you don't think he is serious? >> i think he is holding back.

neil: you think he is serious. trish: i think it resonates, and i think it resonates across party lines. who knows if he has a shot. >> do you really think the stuff about mexicans are coming in here and, they're, a lot of them are rapists? that is horrible, horrible thing -- trish: no filter. neil: there is a lot of frustrated americans are ticked off. >> i understand there is a problem with immigration, but when you start talking about i'm going to build a wall and make the mexicans pay for it because the mexicans, people from mexico and south america, we get the worst of the worst. neil: he loses a lot of that vote. >> that is a lot of vote. neil: what do you think? trish: i think that he spoke in a way that was very unpolitician-like. neil: thank you. >> some of it was disgusting though. neil: you're disgusting though. >> the notion, what is -- neil: people want clarity. i'm not on trump election committee. i'm just telling you. >> what is the numbers? neil: people are angry at china.

they're angry at illegal immigration. they want a guy, his answers might seem simple and they're angry. he is a voice for that. you're a condescending media elite and ignoring it. >> when i hear immigrants. neil: talking about one issue. i'm telling you think resonating with more people. he has money to do a lot of commercials. >> we'll see how much money he has. trish: we're here in new york, talk to people in d.c. -- neil: hello, mr. new york over here. trish: he is talking silly. that kind of stuff is crazy talk. but -- >> you think it is normal to say that. trish: it is not. >> it is not normal! neil: trish, he has never been to an olive garden, this guy. >> people like hearing how -- neil: all right. we'll be exploring a lot more on this and what the message is underneath all of this, ipos are proof of a bubble we've got going. much, much more stick around.

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>> back here with an alert on "cavuto: coast to coast" about ipos which we talk a lot about here recently. the bubble talk, all that kind of thing. let's forget about fitbit and fitness craze. talk about food. in particular a steakhouse. brazilian steakhouse. apparently one up the block here. i've never been there. we could check it out. priced above its offering. fits in a trend in this business. it is portuguese steakhouse. or brazilian steakhouse. if means fire pit in portuguese but also compete with steakhouses. it fits into other restaurant stocks that have gone public. these are the recent list of four of nine public offerings

for restaurants over the last couple years. they're all above the offering price, neil. exempt for a company not listed here called noodles and company. i've actually been to that restaurant. it is not bad. but for whatever reason it is not above the offer price. but all those are above offering price. neil: carbs not good. protein meat good. i could have told you that might be a moot point. we have coming up here, we're going into a disaster so fast with this economy and these markets. you know what happened with greece? which had a guest on talking about imagine, 50 little greeces imagine all our states becoming equivalent of the greece, imagine end. world live here on "coast to coast." after this. i've smoked a lot

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"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. whatever i can do to help compute a cure for cancer, that's what i'd like to do. . neil: all right, taking a peek at the nasdaq right now. year to date. it hit a record yesterday, a little bit today. a lot of folks are saying once

we get back to the old highs in the heist the tech bubble at 2,000, will we suffer the same thing we suffered shortly after that. jonathan hoenig says it is not a bubble, everyone calm down. gary says it certainly is, get lithium. gary, what's your big concern? >> first off, when i use the term bubble, i use it as good news, i think there's more to go. the bottom line is when it ends it blows up because you have the onesided trade. my contention between 0% interest rates for seven years, 15 trillion dollars in printed money, 5 trillion in negative interest rates, that is the big bubble that's causing asset prices to go awry. neil: jonathan? >> neil, gary says when it ends, it can go on for a long, long time. he knows that. >> i agree. >> we think of a top, the nasdaq top is being the top. no, more often it's a top.

you know when it's a bubble when people getlet andly irrational. you hear this time it's different. remember cosmo.com. this is a bubble era company. neil: so you don't think this is a bubble, you don't think $7 billion valuation to a fitbit indicates a bubble, no? >> i know you think it's overvaluation when it comes to it, neil. take a look at twitter, the ipos aren't doing so well, the market is rational. a lot more rational than any of us think. neil: the market knows and is discerning the weak from the chap, what do you think? >> i keep going back, you mention fitbit, there are biotech companies with no sales with $7 billion market cap right now. the biotechs are the internets of 1999, and the housing -- neil: not all of them, you can't say that about all of them. >> i'm not talking the amgens and the biogens, i'm talking about the 150 to 200 ipos brought public by the investment banks over the last couple of years with no sales.

>> gary, in a bubble, a bubble is a market overvaluation, it's not just a sector. maybe biotechs are overvalued. they have the huge run right now. we don't see that cab driver talking about day trading stocks like we do in 1999. or like we saw in 2008. neil: jonathan, give you pause, history is hindsight, 20/20, there was day trading and everybody making money within minutes. we don't see that to the extent we did back then, that's true. what about the other frenetic activity, not to the point which jonathan hoenig would step back? >> first of all, we're going to correct. trees don't go to the sky. i will be looking for two things, first of all, more audience, more investor participation week haven't seen people shuffling money in the stock market like previous bubbles, and more than anything, lower prices. when you see people buying on

the way down that's when you should see it out. neil: take a chill pill, it's not happening now. >> okay, fine. look, it does not have to be like a '99. a '99-2000 is every 50 years, it can be something in between. back to my major point. it is the bond market causing this, the easy monetary policy, and eventually, again, i don't know when there's going to be all heck to pay. i don't think it's right now. neil: can you stay here? i want to bring you into the story, something that concerns a big macro issue that could effect us, us becoming greece. mitch daniels, governor of indiana warning about it on this very show. listen to this. >> i will be very surprised if somewhere down the trail, we don't have a greece-like situation in this country where, states, you were just discussing, who have been profligate, who have bought political favors with unconscionable spending and pension promises don't in

extremis come to the rest of us as national taxpayers and say bail us out. neil: still with gary and jonathan hoenig on this, i think there is market impact on this. niger, what he is saying is unlike the federal government, our federal government, states can't print their way out of this, and a lot of them playing shell games with automatic balanced budgets that they have to have at the end of every year and the chicken is going to come to roost and it's going to be ugly. do you agree with that? exploding at the same time? >> i agree completely. anybody heard of the state of california? how about the state of illinois? both are virtually bankrupt, and continue to grow their budget. continue to grow their social welfare state. it's a potential disaster that could have disastrous consequences for the rest of the country. and by the way, speaking of the federal government, which, of course, can print money, that didn't mean we're out of the hot water. neil: you know, you're right about that. not out of the federal waters

as well. jonathan, that is another argument that i know we always worry about this sort of thing, but the unfunded state lives, paul volcker and others talking about them, they dwarf whatever unfunded liabilities we have, and doesn't take much, a small uptick in rigs and it's cab looy, what do you think of that? >> indeed, neil, rates are so low, starting from the low benchmark price. this is where it is different. we've never had this type of debt and never had the type of government intervention and manipulation of interest rates. and you are starting to see in high yield bonds and leverage loans, credit and sensitive interest rate areas of the market, this could blow up. the bond market, not the stock market, if that happens truly katy bar the door. neil: there is one of your bearish arguments right away. that could happen at any time. we've been saying that for years and been whistling past the graveyard, then what?

>> look, effectively some of the states and cities are bankrupt because of these pensions. i'm looking hundreds of billions of dollars, and if we do get a couple of blowups, that's going to affect the bond markets which will definitively affect stock markets which they always have. the biggest problem is they are greece, they are doing exactly what greece does, they kick the can down the road. paying out too much money to people. neil: was the state of new jersey, where i live, i'll leave that out for the time being. niger, one of the things that's come up in tea party, you've been warning about this for as long as i have known you, robbing peter to pay paul and keep doing it and doing it, i'm not smart enough to know when that stops. when you have paul volcker, prominent economists get together, not that they are necessarily right, we are pushing on something here, it's getting awfully close, when we are dismissive about greece, we do so at our own peril.

what do you think? >> albert einstein said i believe, the definition of insanity is doing something over and over again and expecting a different result. what happens with the illinois and californias? they want to solve their own problems, raise taxes, do nothing about the pensions going out of control. nothing about the social welfare state within their states going out of control. they just continue to do the same thing, kick the can down the road and hope that somebody can bail them out in the future. >> go ahead, finish that point, i'm sorry. >> we've been lulled into the sense of security of being able to borrow at such low rates, once the paranoia and the fear comes, the rates don't go away. neil: someone told me a quarter point uptick in rates comes close to adding about half a trillion dollars it our debt. so just do the math all the way up with any slight uptick. thank you all very much, i appreciate it. today was the deadline for identifying those four and a quarter million federal workers

whose entire lives were exposed. hacked to smithereens. what's happening? who are they? is it more than the four and a quarter million. we're just learning right now, it's worse than you thought, ice. much more after this. so you're a small business expert from at&t? yeah, give me a problem and i've got the solution. well, we have 30 years of customer records. our cloud can keep them safe and accessible anywhere. my drivers don't have time to fill out forms. tablets. keep them all digital. we're looking to double our deliveries. our fleet apps will find the fastest route. oh, and your boysenberry apple scones smell about done. ahh, you're good. i like to bake. with at&t get up to $400 dollars in total savings on tools to manage your business. new york state is reinventing by leading the way on tax cuts. we cut the rates on personal income taxes.

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. neil: all right, we know a lot of workers, particularly federal workers were hacked about, 4.25 million, it could be larger than thought and affect more than federal workers. morgan rice on release of who was hacked and how and when they've been notified. morgan, what do we know and how big is this? >> look, morgan writes data breach is not as bad as the

real breach. my security clearance file is caught up in this, if they have my attention, they do. neil: how did they let you know that? >> neil, i haven't been notified that. i filled out sf 86 in september of 2001, had top secret clearance, haven't heard a peep from the government. there apparently are not the same rules for government as there is for health care and the private sector. neil: you didn't get a letter from the former secretary of defense who told me he got almost a form letter that said you might have been, your data might have been compromised. did you get anything like that, a general letter, like wait a minute? >> no. neil: you might be free and clear. >> i'm hoping. then what happens, they sent out an e-mail telling people click on the link so we can get you the services they're going to give you. so now the people, there's a higher level of angst and

anxiety of the, is this another spearfishing attack. the best way to launch another attack is to recover from the previous attack. i don't know why they sent out e-mails the way they did. it caused anxiety. neil: there is a delay in identifying this. i know there are problems and i'm wondering if there are problems and the numbers are much greater than we are told? >> i believe they are, goes back to the first rule, always worse than initially reported. here's the thing, opm, a lot of information was hosted by the office of interior. neil: office of personnel management, why do you always use acronyms? >> it's washington, d.c., they supply services to another 150 government agencies and organizations, is opm the only one? i doubt it. it could have gone more places, and look, this isn't the first time opm has been hacked there. were people, it took a year to notify the people out of the last breach. neil: i wish you luck, i hope

you haven't been breached. there is no worse guy to do it to because you are very vindictive and you have power. >> i'm a nice guy. neil: see what happens. other distressing news concerning medicare fraud, and a number of arrests made that could pile up to doctors, nurses, office staff, bilking out of 700 million dollars, bigger than that, more involved with that. gerri willis on the latest medicare fraud. >> hi there, neil, 712 million dollars, and the government bilked by 243 people. 46 of whom are doctors, nurses, home health care aides, you name it. this is nothing new, we see this every single year. what is new in this particular medicare fraud is that some of the doctors were prescribing unnecessary narcotics in the hopes of getting these people hooked on drugs and they in return would provide the doctors with their identity so the doctors could then bilk the government out of money, it's

astonishing what's going on. lots of billing that goes ocompletely fraudulent, ordering wheelchairs that people don't need, tests that people don't need. i have to tell you, this is the time of the year that the department of justice says there's been a ripoff. may 13,2014, 260 million, 90 people arrested. may 14, 2013, 223 million in false billing. 89 people arrested. huh! seems like a lot of fraud going on all the time. neil: gerri willis in our fox newsroom. want to update you on china. china had a miserable day, shares down 6.5%, they finished worst week since 2008. that always scares people, 2008. what was going on in 2008.

on a china correction or worse? melissa, what do you think? >> it would certainly be a disaster for us especially. this is sort of the thing that would set off the chain reaction that people are worried about. you look at situation with the fed here in the u.s. where they've let all the slack out of the reins. they're saying they're going to raise rates, only slowly. if we saw any problem around the world, it would have reverberations here, i think it's a problem. neil: they are giving -- for our markets, we may not be the greatest but we're the tallest midget. that has helped us, because the rest of the world looks so darn small and insignificant. >> little person, neil. the thing about china, interesting when you look at articles written about them, they could be written about us. it's the magnitude and the scale. if we have 350, they have a billion, and the losses today even in the "wall street journal" story, they're a blow to one of the world's best performing markets and go onto

say and the efforts of the chinese regulators to coax a steady sustainable rise in stocks, that sounds what federal reserve is doing, trying to coax, it's very similar, but i wonder if they are comparable because china is so much bigger, if they go wrong, they can go terribly wrong. neil: you were ahead of the curve, they weren't all they were cracked up to being. and not quite they were paper tiger but a lying one. we now know, we can see the markets, the fall off in they've now had. if they are acknowledging problems, me thinks it's ten times worse than they are acknowledging, what do you think? . >> the underlying economy is not growing at the 7.0% they claim for the first quarter, more like one or two or maybe zero. neil: they are just like us? >> the stock market boom is untethered to fundamentals, and people are saying, look, the government's got to stimulate this economy, so therefore i'm going to go into the market. it makes sort of perverse

sense. you have the 6.4% fall. 13% for the week and i think you'll see panic in china. people are going to say i've got to get out now, because of the margin debt. neil: what do you think of that? that's the fear, china says we'll use it not necessarily as a real but a convenient excuse to correct in our own market. >> that makes all kinds of sense to me. i think they've been known for exaggerating numbers, whenever there is data that comes out, take it with a grain of salt. could this be worse than we think it is, that's scary too. neil: they don't have paper debt where, do they go? >> nutty stat today. last hour you and i were talking about the ipos, the fitbit and whatever i was talking about the fogo de chao. this could be a sign of bubble or whatever it is, could be not a good sign. if you have a company, go public, why not? >> there is 50 initial public

offerings a month, double their pace. that's the kind of a sign of things bubbling over as well. i mean, a lot of little things like that, that you say, going to be in trouble here. neil: you know gordon, i was thinking if donald trump became president and remembering what he said about china. i know how to talk to the chinese, it's going to be rough, going to be rough. what do you think a president trump, work with me on this one, would mean to china. >> i think china would be very concerned. because -- [ laughter ] >> it's very unusual. neil: yeah, maybe, maybe. >> very unusual for the foreign ministry to comment about a republican candidate, especially this early in the stage of the campaign. so what trump said a couple days ago really struck a nerve in beijing because they realize that their trade behavior has sincerely deteriorated since 2010, and no one's calling on

them, but trump certainly would. >> anybody but this guy, a fly on the wall. neil: taking credit for the chinese fallout. >> what connell said is so smart. neil: don't do that. >> sorry. how they're managing their economy. what the government is doing but won't admit. trying to prop up the stock. neil: that's a little more honest. >> they're doing the exact same thing, they tell you they're doing it, as opposed to our government who pretends they're not doing it. >> more stimulus, more in china. >> amazing, amazing. neil: a lot more after this including a rundown on all the markets right now. and you know mortgage rates could come back down, up and down, up and down, a little down, do we end the week with more promising news for housing? who knows.

. neil: all right, we told you what the epa is trying to do now, just a little more than a week ago it was going after big airlines and airplane manufacturers about emissions and trying to police them out of airplanes. now setting their sights on

terra firma and trucks on the roads, that includes virtually all large trucks, tractor-trailers, delivery trucks and school buses. i immediately thought about delivery services like fedex and ups. according to my next guests all the guys would feel the heat and would have to raise prices or try, to and money guy ty young said that would not be good for the economy. ty, the argument for it is yeah, it would be net net good for our health and would get past this, you say not so sure. >> no, not so sure. based upon theory. climate change is still theory. neil: wait a minute, the pope is buying it. >> i'm not so sure he's a scientist, neil, maybe he is, i don't know. the fact remains it's not settled science and this is going to drive costs up. no question about that. if transportation prices go up and they're going to as a result of this, the simple fact is the goods and services delivered to us are going to

cost more and on top of that is a colossal, a colossal waste of tax dollars on top of that. this is not settled scientists, environmentalists want it to be, it's not. it's costing us a lot of money. neil: i notice a lot of the trucking concerns, they've been under pressure well ahead of this, you think about it, the dow transports and a lot of them feeling the heat in expectation of this because this was widely anticipated this was going to happen and the epa threw the hammer down and now we know it's happening. that is generally not good for the markets. smart guys like you say if they go, so go the rest of the markets, transports last time hit a high around christmastime last year, what are you seeing happening for the markets? >> well, neil, any time the cost goes up for individual companies, that hurts earnings. that's obviously a negative for the market. many folks in the industry say because of the government subsidies and government guaranty loans, it will not

hurt the market. you got to believe solyndra worked. you got to believe tesla is profitable without government agencies. none of those things came to pass. the simple fact is it's going to cost more for the businesses, earnings go down, hurts the market. neil: ty, put you down as a maybe on the epa and overreach here. thank you, my friend. >> thank you. neil: the trade deal that's going to be working its way to the senate. remember they rejiggered this thing. i don't want to get lost in the weeding or bore you, too much on this. suffice to say both sides are crossing fingers and hopeful they can get a trade deal done before the july 4th recess and an embarrassed president won't be quite as embarrassed anymore. republican senator tom delis on that. are you for what they're pushing through now? >> i voted for tpa. i voted for amendment to pull taa out of it.

neil: the taa, all you guys love the acronyms it was the assistance package that would help businesses that would be hurt, the democrats argue, by any trade provisions, but now you think they're working to make something happen? >> i think so, we'll see them come across as two separate measures, but i'm hopeful we can get it done. hopeful we get trade promotion authority out there. neil: you need the provision authority to protect businesses, that has to pass before the democrats at least i'm told, sir, would vote on the trade authority itself? >> yes, i think if you take a look at the votes when they came before the senate. if the members vote consistently, they will get past the separate measures. my main focus is on tpa. critically important. may be the last opportunity to get trade promotion authority for ten years. neil: i hear from conservative

colleagues who say normally they're big in for trade as well but don't trust the president. they don't like the executive orders, the deals in secret. go back maybe to the health care bill that was cooked up behind their backs and in secret, and normally these free traders would be all the more willing to sign on, but they just don't trust what provisions or promises have been made by a white house they don't like or trust. what do you make of that? >> well, neil, you could list all the areas that i agree with the president on a postit note. i share some of their concerns. what we've got to do is put a trade promotion authority in place that will transcend into the presidency, that's six years, three years, reauthorization of three years. transpacific treaty, the transatlantic treaty gives us an opportunity to disapprove things if we find out the trade agreements. it simply gives the president authority to negotiate the

treaties. we've got to bring the deal back before the congress and be absolutely satisfied it's good for america. neil: yeah, but you can't pick it apart. >> no, we can vote it up or down, send them bag to the drawing board if necessary. >> senator, good seeing you, have a good father's day. >> you too, neil. neil: greece may be avoiding a calamity. i got to tell you it's how it's avoiding a calamity. they got emergency money that will carry them through the end of the month, but the european central bank consortium cobbled together money that's a lot less than the greeks originally wanted. i'm not one to rain on a parade at the end of the week, but this is not a deal. it's not a generous deal, and nothing has really changed. why our boomers are more bitter than ever? after this. without checking the spice level.

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neil: all right. we've got some live developments to show you going on in brees right now. financial problems are getting works and worse and we're ignoring it. i'm warning you about this. you're not seeing this on other networks. this is the scene in greece. [screaming] we want you to be aware. now they're waking up to them. hang on, it will get a little worse here. >> that is the blob. neil: that is "the blob."

thank you. the woman found out the future. there you go. [laughter] i want to put this in perspective for you, because a lot of you are not getting it. this is arcane academic argument. that is not what we're into here. i can't spell arcane or academic, that is the not point. the fact of the matter, going on in greece, notwithstanding indicative what is going on here. a government promising too much and taxing too much and will pay for it in spades. but we don't see that, do we. charlie brady here, steven lee, charlie gasparino. steven lee, that is what i'm talking about. we don't see it before our eyes. >> yes, neil, what people don't realize how fast this stuff can change. i can give you a scenario, not a prediction, but a scenario that is very possible. greece, accepts chinese trains to middle europe to budapest, which is already on the

schedule. budapest to germany. china already the biggest investor in germany. russia today signed a deal to send gas to greece through the rest of europe. neil: what are you saying? >> i'm saying we don't even know who east and west is anymore in this world. that is a big deal. if you will not protect yourself against that, you have to be crazy. neil: what you're saying this is really a big deal? >> could be a huge deal. >> here is the problem they have. the millenials -- neil: no, no. we're not doing this again. >> yes, the millenials in that part of the world, i know them, i have family over there. neil: sure. >> they're even laserrer than the millenials here. neil: incredible. demo is? want to reach connell mcshane's demo. >> we found a place in the world where the millenials are even lazier. more government -- >> that is impossible. >> they like fiesta, siesta, manana over there. neil: donald trump lives.

>> to your point the one parallel here is greece's problems are largely its owns. the parallel with our millenials greece is blaming everyone else for their problems. >> greece is like one big millenial. blame everyone else. that is the parallel. >> look, neil, yes, there are issues with greece, there really are. neil: if you mention the chinese and bulgarian train -- >> i'm not going to mention that. there are issues here too. you read about them -- you had a story a few minutes ago about medicare fraud where doctors are getting patients addicted to painkillers so they can reap more money. that is not government doing a good job. there are so many -- neil: gotten too big and unwieldy. >> exactly. neil: when you take something back or rein in it, it doesn't go well. >> can say a quick thing? if 2008-9, can't convince you

can't rely on government, because the next one will be worse. any financial size source, stocks, cash, bonds. you've got to include gold in that mix, neil. you must. i'm not saying 50% but some gold to protect yourself. you can't rely on this government. neil: you found a way to make money off armageddon which i deeply admire. >> i'm not saying protect against armageddon. neil: here we go with the millenials again. >> i did reporting on this. neil: you did no reporting on this. >> sources tell me. neil: right. >> the millenials over there, instead of rebelling against their parents, they're going along with their parents this droves. they are hugely addicted to the welfare state over there like they are here. neil: you have crowd storming out of the theater. let's see how many are millenials. let's take a look. take a look. well, you know, i must say, charlie brady is right. most of these are young people. most of those are young people.

that one of course, is actually charlie gasparino's relative. what do you make of that? >> talk about government depend den sir, the greek government is totally dependent on the ecb for its finances. neil: european central bank. my god this is -- >> if they go belly-up on the debt, ecb stops financing. neil: they already hinted that. >> millenials are dependent on their parents. same parallel. >> what is danger to the west is palpable. they are totally dependent on the west. neil: you boomers created this problem. millenials will be first to say, boomers cited this, cradle to grave government benefit. >> that's true. neil: it is our generation, young man, that is the one hurting right now. >> fdr, got it from there. >> they love obama, these millenials. >> that's crazy. that is crazy. >> they love big government. president obama.

>> one accomplishment -- >> turning this into welfare state. >> tsipras went on platform of not cutting pensions. neil: the prime minister. we have never provide ad carrot for them. we have never provided incentive that gives them something to look forward to. when you reprimand your kids, provide something promising if you do this? this is punishment, punishment. i'm a gentle boomer. i'm not bitter like you guys. >> from our government's point of view i don't think we realize, our government realizes how critical greece is. because they are dependent on the west. neil: mix carrot with stick. rob, cue the run that will happen here. this is what is going to happen here. [screaming] i'm telling you. they will be walking out of that flick. >> our prices go through the roof because they will not import enough, export enough. [laughter] neil: i knew this was bad idea.

we always hear, women do this all the time,. [screaming] you guys got to mix sugar with the medicine. >> neil, that is so right because if we lose greece, we basically have lost a big, huge, chunk of the west. the odds here are great. charlie i agree with you. greece government is disaster. the greek country is disaster. doesn't mean we give them away. >> does this mean we have to be nice to millenials right now? >> you're incredible. alienating young people worldwide. >> they tune in to hear me yell at them. neil: you guys heard of uber. that is something you can do leverage with everything. what about private jets for gasparino to get out of time. can't soil himself, no offense, on jetblue. has to be a way of dealing with that or millenials sitting next to him in coach. can you imagine how that goes? there is an answer. listen up after this, gaspo.

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network, unlike what they're doing at fox sports. under armour, nike, fairly self-explanatory how the companies are in the golf business. deere, toro, help the golf courses one way or other. clubcorp is behind some of the country clubs. the point, the fbn golf index, i started to talk about this a few days ago, we have that, the fbn stock index. it is beating market. should have bought these. up 9%. keep in mind golf is a pretty good business as we watch the u.s. open this week and coming back with "cavuto: coast to coast" in a few minutes.

neil: all right. well it worked for cars. who says uber couldn't work, i don't know, booking private jets. not quite the same deal but ubair ceo sees -- up in the sky. explain how this works, justin. the idea you have nothing to do with uber. i'm surprised they haven't sued you yet but you offering maybe customers the commands to book an uber car when they land. how would it work? explain how it would work? >> sure, travel apps, as you know, neil have become ubiquitous with our society. ubair in the marketplace and app store for two months, any user can download the app and get

instant one way private aviation quote to and from anywhere in the civilized world. one use case an ubair taxi from a flight from teterboro to nan tuck dealt or martha's vineyard. you could fly a gulf stream or any type of intercontinental yet jet. one of our largest was a 350,000-dollar piece of business all booked through an app. neil: those regularly take private jets, people like connell mcshane, people like that, is this significantly cheaper than they book on conventional private jet? >> sure. so the first entry point for a lot of people into our category is private jet cards or programs. neil: right, right. >> those programs come with huge up front cost and expenses. minimum entry point is 150,000-dollar plus deposit. neil: the key, you don't do

round-trip? one leg at a time. you find the jet much like people do with a car, correct? >> exactly. so most people, whether they're flying round-trip, it is really a one-way flight they're flying somewhere. the length of their stay is such that the plane isn't going to wait to fly them back. a basically worldwide, blended one-way rate up to six different categories of aircraft. neil: justin, the question that i have -- >> no fees. neil: what would ask, are the pilots the same or are these like pilots who have been fired or drive buses in their spare time? are these legitimate guys piloting your planes? >> absolutely. we partner with the with two largest aviation rating agencies. one is aviation service group, argus and the other is -- neil: no difference in the quality of service and goes up from props all the way to, you can get a fancy gulf stream, right? >> right. the entry level point is about $2,000 on a taxi which would call it, beach baron or cirrus

sr-200, up to gulf stream or global express and anything in the middle. the sweet spot is the light jet and mid-sized categories. neil: right. i imagine given all the headaches associated with commercial travel you are getting some interest but how do you draw it away from the big boys? just price and do comparison pricing, show people you're paying way too much or putting way too much up front to the delta private jets and netjets, all these guys? is that how you market it? >> sure. there are really two different slices of our end user. one is the mass affluent. they are people who consider flying privately. it is really having access point for them. maybe use case for one of these people, flying commercial from new york to denver but that last mile getting from denver to aspen is real pain in the neck to do commercially. they will do hybrid of commercial and use one of our taxi services for that last mile. that is about $2,000. the second bucket, if you will

is the lifestyle private jet travelers. people who pay absolute huge premium to fly with netjets or marquee, or any of these programs. what they're buying with programs instant access and instant pricing, the same thing we give them instantly through an app with no up-front costs. neil: i think good idea. justin sullivan. always good having you. i will pass it to connell and people like hannity. they're kind of elitist. i could see them doing it. justin, thank you very much. a lot more coming up, ipo surge, and that is crowd tailor-made with this. just easy, easy money for justin. including that fit it about crowd. that ceo, i think he is worth close to $700 million. now he was saying yesterday on the floor of the exchange he doesn't pay attention to money. he will give it all away. okay. i'll play along. we'll have more after this. you're driving along,

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neil: neil cavuto and you're watching "coast to coast." carl icahn was flattered that donald trump was considering him as treasury secretary. one of the things carl icahn said, laugh at donald trump all you want. what he says the propped up markets on helium and what he says about the federal reserve essentially creating a trouble, bear listens, bear attention and bear debate. they're not as crazy as the messenger that seems to be saying it. all right, now, connell, back with us. dagen back with us. what do you think of that, dagen? you can criticize the merger all you want but the messenger is sound? >> there is bubble in technology

particularly as i said yesterday but there is different bubble. when you think of technology and bubble you think of 2000. people buying and investing in companies that have no earnings. neil: right. >> that is not the case now. back then with the 100 largest nasdaq companies, 68 added had earnings. today it is roughly 90. almost 90% roughly. what is happening here, people are still overpaying for those earnings. people think, particularly these venture capitalists, these companies they're investing in can grow much longer, can grow much higher. neil: trump is saying the fed's fault for providing this false since of reality? >> we talked about that. we actually just talked about it a few minutes ago, talking about what is happening in china. that was order of magnitude where china is always bigger than us. but the same idea applies here in many ways. carl icahn said, he has never

seen it before for so long where interest rates are this low. to that extent this is uncharted territory. neil: is donald trump taking seriously about this and should all the noise be -- >> trump should be taken every way. he says so much, he is right, he is wrong, he is sane, he is crazy. neil: he never takes anything back. >> people can't take their eyes off of him they're listening and watching crazy gestures and hair flying. neil: say what you will, there are a lot of disenfranchised angry people. half the people in this country don't vote and other half are do and frustrated with china, mexico, maybe has different way wording it. >> he has to figure out a better way than mexican people in general. that said, trump is the king of product placement. this is surprise for you, mr. cavuto. i have to give credit -- neil: you don't think he is serious about running then? >> i actually do think he is. until he is not.

in his own mind he is probably right now. until something comes up, i have a surprise for you. i have to give credit to your great producer ralph in doing some you think trump is great ad product placement. this is "fox & friends" this morning. some band is playing. >> king and country. get it right, connell. >> look who is placing himself in the middle of this. you're everywhere. neil: that ego activity. >> can't even let country band play, talking about trumps. >> you were two minutes away dropping neil. everything is cavuto this and cavuto that. neil: i didn't even want either of you on this broadcast. rob kept saying have them on. come on. i understand why i -- you both. all right. more right after this.

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neil: wrapping up another week here on "coast to coast." when billionaires say darnedest

things. looks like bubble, feels like a bubble. guy i wants to be secretary -- treasurer of the united states, says he confirms from "the donald" we are in a bubble. my kids are watching right now. i want to convey with them, they should be out getting my father's day present. trish: like good little kids. happy father's day to you, neil. neil: okay, kiddo, thank you. trish: what carl icahn thinks about donald trump's offer to be treasury secretary now. >> as i said in my tweet, i guess i would not, i sleep too late in the morning. "the donald" and i have been friends for years. actually i haven't spoken to him for the last four or five months so i was surprised when he put that out about my being secretary of the treasury. trish: in an exexclusive interview legendary billionaire investor carl icahn telling us donald trump knows what he is talks about o