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tv   Cavuto on Business  FOX Business  July 12, 2015 8:30am-9:01am EDT

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>> jonas? >> the cute minion toys and the happy meal some people think they're cursing. people hike me will buy their first happy meal in years. good for mb d. >> supervise busins block continues. neil is next. what do they have in common with us in the usa? more government meddling in spending. is it me or does all this meddling in spending seem to be hurting more than helping? that's our "opening question." ben stein says help is leaving a lot of folks helpless. joining us jerry willis adam and charlie gasparino. dagen conveniently off the week of multiple financial crises. coincidence? you decide. ben stein, our seasoned
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economist, lawyer, actor brainiac let's talk about what's going on here and all of this role on the part of just government meddling. what do you think? >> i'm not worried about meddling in greece or greece at all. the entire economy of greece is the size of atlanta and while i love atlanta, if it were in trouble, i wouldn't -- >> atlanta is a highly rated city for us. not now. >> we love that city. >> absolutely. >> look there's an old saying in the oil and gas business in texas, which is if you owe the bank a thousand dollar the bank owns you. if you owe the bank a billion dollars, you own the bank. greece is in the driver's seat. they owe so much money, it's so
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important we not break up the eurozone i don't know why, i don't care if they break up the zone i couldn't care less. but greece at this point owns the bank and in china, the government there is a fragile government military dictatorship but they cannot allow stock market crash. too many people would be ruined. cannot allow mass dissatisfaction because there's no political outlet for it. >> what do you think? >> we're all so smug. it's happening over there. we know chicago has had its debt downgraded just this past month. new jersey has had its debt downgraded nine times. we've got detroit in bankruptcy. the troubles are everywhere. and it's too much money we've given these governments and they're spending it badly. >> the governments are trying to prop it up right? >> i think if atlanta went under that would be pretty bad for this country. that would be a sign that, you know the fiscal state of the united states is in really bad shape. the point is we're not at greece
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yet. detroit filed for bankruptcy but we really do have an issue here where these huge sort of socialist entities these countries that rely on huge government -- and detroit for a time was like a socialist country. huge government spending no business, you know everybody on welfare. that that leads to disaster and that is infecting the world right now, that plague. >> maybe you could hit someone in the northeast. we've got atlanta, detroit. new jersey, you oar out of here. >> the point i like ben was going toward was the fact that you've got rulers chor having a difficult time whether the dictators over the last five years, a lot have been deposed. socialist countries have been deposed, democracyies in america. why? we are overpromising to keep power. that's the bottom line and why it is happening here. we have give b too much. governments around the world have give. too much promise too much. greece is an example what
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ultimately happen you have to draw the line somewhere. >> in new jersey they upped the ante on pensions 13 times in 25 years. >> do you live in new jersey? >> no i don't, thank god. >> i to and i think you're being very unfair to my state. the garden state. >> the only thing it's got going for it. >> we don't have any gardens or -- >> or any money. >> or any money. adam my biggest concern as we started this was the idea the government comes in to prop things up rescue things and make things better, in china to support the market and maybe avoid this short selling that was going on or selling, period now. and i think they just create this sort of artificial mentality. but i guess we've been going here because that has been the way of the world. what say you? >> i think specifically what the new york yankees are doing is ham handled and will bite them in the rear end because they're showing favorites in a way that's going to make people have no confidence in their markets. i want to say at a higher level,
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governments meld l. this is what we expect them to do. >> i don't. >> we do with limits. >> you may but not in my world. all right, all right. let him explain this ridiculous point. go ahead. >> i will. neil framed it very well in his opening. governments meddle and they're doing it badly. what we want for them is to do it well. an example. >> where? >> laughing at the point you're making. >> where they've done it so well. obamacare? >> that's going swimmingly. >> we have a securities & exchange commission in the united states -- >> and they couldn't even catch madoff those jerks. >> but a functioning security market -- >> catching some -- >> what do you say, with due respect, is you need some government some oversight. >> of course.
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>> all i'm arguing is i think we're in overkill mode. that's all i'm saying. >> we need fire. we need police. >> now you're approaching it with condescension. >> we have all these overlapping bure ok rayaucracyies since adam brought up the point, the s.e.c. -- >> that have gone too far. >> law enforcement, guess what they can't catch madoff? >> weren't the s.e.c. guys looking at porn? >> among other things. >> absolutely. >> the bottom line, what adam described is not meddling. that is the role of government. we're talking about governments that come over and over again, local, state, and they keep buying favor, keep making promises lavish promises they know they cannot keep. >> like our government. >> like our government. hike our cities. our states. this is why anyone out there to gerri's point that will laugh, china's imploding, we spent all week dancing on the grave of china. forget about china, my man. worry about america because
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we're probably worse off than them. >> adam isn't worried about america. >> because he can always move back to china. >> ben stein will be back. >> let me see his birth certificate. >> ben stein, i'm looking that the -- >> the birther. >> i'm looking that the and i know we've gotten used to it dribs and drabs, but now, you know market can't advance in our country without quantitative easing and this expectation of seemingly low interest rates for as long as we can see. in china, without coming to the market's rescue to help a crooked system i guess. in puerto rico desperate attempt on the government-led bailout that will hopefully, they hope weather their governor coming to this country, get u.s. support. in other words, in order to keep this going the request and demand is for more government intervention. i think that is a slippery slope on which we've long since slid. what do you think?
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>> well we've been on a slope for a very very long time. we haven't fallen down it. there have been there has been a lot of government intervention from 1929 to '33. >> enough enough enough. >> and we're broke as a nation somehow we keep going. government meddling is a problem. but so far it's much more of a help than a problem. >> it's not a help when it hurts growth. i think that's the problem that we have here. >> or it disguises growth. >> it is hurting growth. >> you don't know that. >> no one knows anything. what you do is you interview people. >> i do. >> there you've got it. >> you interview people like business people and say why don't you hire more and said business person comes back because i'm worried about taxes going up worried about regulations. >> do they wear ties? >> no, actually gold chains.
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>> i understand we've done this since 1929 awe you're a historian, we bulk them all together and say, man, it wasn't worth it. the decline, the fall of the roman empire in other words -- >> that was ben's first story. >> i don't think we get comfort from the fact we've been able to get away with it for a hundred years. >> do you think we would have been better off if the government had not introduced federal deposit insurance or created the s.e.c.? >> for example. >> that's another example. they can't afford it. >> ben, bottom line you're not worried. adam bottom line you're not worried. right? >> we should do better. we should just do better. >> what? what do you mean? all right. we'll take a break. we're going to take a break.
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if the debt crises around the world don't have you terrified, a spike in look at this now, violent crime here at home is going to have you really petrify petrified for your life and your wallet too. >> it's daefl concern. >> our kids and safety of our neighborhoods. >> always concerned about crime. >> very concerned about the crime rising in new york.
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congressman ed royce on iran.
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>> i'm very concerned about the rise in crime rate. >> not too concerned. there seem to be police everywhere. >> seems to be going downhill at an alarming rate. >> it makes you more aware of when you go and who you go with. >> i'm concerned because i have children. >> you don't want to see every place crime ridden. >> i'm concerned because we talked to all those people right outside this building. some cities seeing a 60% spike in things like murders in just the last six months alone. and it's happening in more cities that are relaxing laws fighting lesser crimes. starting to look like that '70s show and it's a rerun you probably don't want to watch. >> one of the older members of this cast i grew up in the '70s and i remember what it was like. you know i remember the blackout in new york city. i remember that the safest place -- >> 1977 or earlier? >> '77. the safest place in new york
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city at that point was arthur avenue. why? because the mob ran arthur 1/2 the -- avenue in the bronx. you don't want that again. part of the reason why crime is going up because the media, many of the liberals in the media and the media is dominated by liberals and in popular culture are attacking -- >> wait wait whoa whoa. media dominated. >> yeah. >> liberals? >> yeah. >> all right. keep going. i'm sorry. >> trying to make a serious point here. >> when i catch them i want to have it written down. >> write this down too. the popular liberal media hate cops. >> there's something to that. >> the war against the police started a long time ago and pop culture to charley's point. then you mix that with -- those cities we looked at have the largest income inequality problems in the entire country, also been run by democrats, progressives for decades, and they also pay a lot of people
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not to work. and you create this sort of brew there that becomes a powder keg and it's exactly what's happening. >> i don't know what new york city's excuse is. we were firing on all cylinders for a while. >> you don't have to go back to the 1970s to see that in the city. i moved to the city when david dinkins was mayor. you'd open your window and hear gunfire and that's because it was a liberal administration the businesses weren't coming in and it got all turned around only a few years later. >> there were problems of lie riots during mayor lindsey's -- >> that was another thing. >> i'm just saying there's something going on. i don't know how it is by you, but, i mean crime is on the rise in major cities. some major cities a double-digit rise. should we worry or is this a passing phenomena? >> it's a terrible phenomenon. it has spirely to do with the mainstream media which has taken on the cops humiliated the
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cops. >> write that down. >> tried to make them the bad guys. mainstream media, it's the criminals who are called criminals for a reason. cops are called the police for a reason. police are protecting us. criminals are threatening us. stop beating up on the police. they're our heroes. >> adam? >> this is a nonsense story line that i'm going to blame charley for, not ben, but -- >> thank you. what's nonsense, that you liberals out there -- >> here's why this is -- >> let him talk. >> my concern that there's a rise in crime rates. of course i am. has the mainstream liberal media changed any in the last 20 years? no. there's no change there. >> every day you read about some cop shooting someone, whacking somebody in the face like that's the norm. >> with all due respect, they're on the warpath against them
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night and day. >> explain that ben. explain that. >> night and day. >> silly point. it's night and day. ben was right. >> it's absolutely true. you've broken the spirit of the police in many cities and that is going to hurt everyone. >> every day you get a story in national papers about some cop somewhere doing something wrong. every single day. particularly in "the new york times" with, you know this underscores the bad problems what the police are doing nationwide. when that becomes the norm every day, people start hating cops. >> and that's what's happened. adam unfortunately -- >> not scared of the cops because they're being castrated by the media. >> bottom line. >> it's disgusting. >> adam we want your thoughts on that but we've run out of time. so so much for the fair and balanced view. when we come back reports of government panels? >> today on "forbes on fox," the
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all right. do you think the death panels are dead? do government guidelines for medicare will pay doctors to have what they call end of life discussions with patients. charles says it sounds like death panels are very much alive and well. >> parallel that to a big movement that will get bigger,
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and this is america fwking more like europe. watch, watch, watch. that's going to sweep this nation. couple that with the course the government that can't afford this. we know a lot of the money when it comes to this money we spent the last couple of years when someone is in a bed, and they're -- we always heard about this. >> most of our hospital in the final years, years of life to have the conversation. what is wrong about that? >> there's nothing wrong with that and i think people should do that. i just don't want the government between me and my doctor. i don't think the government should be part of that conversation. >> medicare what -- >> here's where it gets bad.
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the government is involved. it is -- it's rationing southwests, and then the government will be -- >> come on. >> ben stein what do you think of that? what is wrong with a government or a doctor having a conversation or do you fear the conversation more -- >> i think the conversation will be inevitably morph into questions lou woou like us to kill you, and more and more people will say yes, and i think that's a shame. you know enormous facts of what we spend on medical care is spent in the last six months to a year. i don't think that can go on forever. it's a shame. it's just i'm against all forms of killing in this country, except -- >> there is nothing about this that is a death panel. >> when you aa government -- >> this is a good -- this is a good conversation to facilitate
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doctors agree it's a conversation they want to be able to have and secondly we discussed this back when sar wra palin was saying what she was saying. all insurance is ration. the government has a huge wlikt of interest. the own where yous is on -- >> i just worry that my kids would jump at the chance to say by all means, pull the plug. >> i want -- who would pull the plug? meanwhile, these market eyeragses are giving investors a lot of hesitation but not our pros. they said the stock would go up even when the markets just go nuts.
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>> or guys say you want to buy these stocks. charles. >> take a look at sher win williams. i really like the household formations we're seeing and i think this is a winner. >> all right, adam. >> i shares u.s. health care index. people will keep buying health care. appropriate from our last conversation. >> if they're alive. >> ben. >> just by the market. the spiders. just buy the market over the long-term.
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you'll do great. >> you seem bummed out from the final comments in the last segment. is everything okay? >> we continue that. >> greece's debt china's market and the new york stock exchange with so much big -- you probably missed this. new explosive documents set to reveal that the irs was not the only arm of the federal government targeting conservative groups. the justice department and the fbi might have been conspireing with the irs to find ways to criminally prosecute those groups. some think this is more proof the administration was indeed targeting its political enemies. was it? hi everybody. i'm david. welcome to "forbes on fox." let's go in focus to find out -

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