we are down 15 points with or without the help of dupont. of 11%. my time is up. neil, it is yours. neil: stuart, you just ended with a right to die story. is there any reason for that? >> no. it was just a very good soundbites from a very important lady. i thought that you would be interested. neil: no. the mcdonald's all day. [laughter] stuart: am i right in saying that breakfast all day at mcdonald's is really not that big of a deal. >> you are wrong. it is a huge deal. >> you cannot get to know lease at mcdonald's. >> go ahead. drag my people down.

give them time. give them time. they are all there. all of their right now. they know you are coming. stuart: you have wasted a minute of your time. >> it was well worth it. thank you, stuart, very top of very much. that guy has long been out. he has a book out. he was chattering with maria this morning. the hero post the meltdown. regardless of what you think the fed did, the only one in the room doing it at the time. the reflection back is was it too much of a good day. federal vice chair. you name it, she has done it.

the message i got, seven years after the meltdown, this idea that we are not quite back up on our feet. there is a limit to how much of a great night we could take. are we ready for a quarter of that? >> oh, i think so. shows like this would have been talking about it for maybe a year, maybe longer. the economy is in pretty good shape. domestically, we are doing quite well. we need to have some room in case things go badly. the fed has to be back in some sort of a normal range so they can operate monetary policy.

>> a little bit of ammunition in case things get out of hand. do you agree? >> oh, if they were at 75% maybe. they certainly have signaled their intentions to hike rates. the jobs report was weaker. neil: i see what you mean. i keep going back to bernanke. this idea that we would be in a lot worse shape. sort of dropping the ball.

all bets were off. they were doing it. the $4 trillion balance sheet. then it was the auto industry. then it was kids in college who are behind on their loans. it was a bad thing. we overdid it. what do you think? >> no, i do not think so. i think that they had to react very aggressively. we never should have been in this situation. once that we were, the financial situation was gravely threatened. they had to move in aggressively. i think that it was not a perfect show. basically, they had to do what they did. we now have come out the other in and reasonably our economy is

doing better than most of the rest of the world. neil: i understand what you are saying. >> no, i don't think that's right. i don't think that's right. we certainly are not. after that deep big crash and that huge mortgage foreclosure crisis, which is still dragging on the economy, after that, it was hardly to be expected that we come roaring back. neil: i am also reminded what ben bernanke wrote in his book. he thinks housing is showing some traction. what do you think?

>> that it is hiccuping? neil: that it is losing steam. >> i do not think that we know. it does not have to do with us. it has to do with the rest of the world. we clearly have a slow down slowdown with china and much of the emerging world for reasons that do not have to do with us, but could affect us seriously. we do not know how long that will last and how seriously we will be affected. that is seriously true. that does not mean that our economy is not doing better than a lot of others. neil: i am worried when i hear that i am a announcement. i do not think it will get much worse. the rest of the world, potentially, could. they also talk about what is

going on in germany. in that environment, you have a lot of global leaders. urging the federal reserve to go slow. it could do more harm than good. what do you think of that? >> i think that that is possible and i am not surprised that they are saying that. it is a judgment call. it has been a judgment call for some time. going very, very slowly. not getting back to normal as soon as many thought that they should. doing it by the end of this year seems to be a good that. neil: recently ted cruz said we do not need a federal reserve. rand paul. who are these appointed brainiacs. i am just wondering whether this kind of tone reinforces the

argument that a very powerful institution is accountable to no one. >> oh, i do not think so. the fed is accountable to the congress and to, they report regularly. much more transparent. bernanke was more transparent than greenspan. yell and more transparent than bernanke. we know a lot more about what the fed is thinking. they are more explicit about their choices. they have a hard judgment call. i do not think that they are mysterious, i just think that they have a hard decision. neil: the one thing that i did discern from at least janet yellen is she did draw a line in the sand when it came to interest rates. is it your adding that it will and is it dangerous if they

don't when you draw that line? >> well, they are always very careful unless conditions change or something like that. they are protected if something really bad happens. if things go as most the people expect, i think there really is a strong case for getting off the zero bound and back into a more or less normal range. i do not expect that we will have high interest rates anytime soon. it will be a very gradual raise. they will assess the situation all along and possibly positive or even reverse it if we have as weak a world economy affect being us, as some people say.

neil: did you focus on the markets? some people say that they should not, but it's understandable that they do. do you put that into the equation? >> well, i have not been there since the 90s. focus on the.com bubble. we thought about that a lot. the fed should not be playing to the markets. they also should not be surprising the markets. i think that that is why they have been so careful to be more explosive about what they intend. neil: real pleasure. good catching up with you. >> good talking to you. neil: david, what do you think? >> she is a very decent woman. she explains things very

clearly. what she does not say is how much overboard the fed with. maria pressed him on this. yes, we had a financial crisis. yes, things were looking dire. was it the end of the world? no. all the free money for all the hedge fund and wall street gamblers. for the middle class. a lender of last resort. it should not be an open window for hedge funders and wall street gamblers. neil: $4 trillion. he minimizes is not that bad. still a lot of money. >> when the global bar could start thinking we have devalued our currency to the point where the fed is really printing money, then it is going to be a real problem. very intellectually honest

person. she is part of the left. having a hard time explaining this economy. >> they say that it is better than it was. >> it will be a big political problem for hillary clinton. you can just see it in their voices. we ship point now, it goes before congress a couple times a year. neil: it does not mean that they are accountable. >> they are not really accountable. it is really a secret society. it is also unprecedented. neil: what do you think? >> i think that it has become political if you listen to ben bernanke. he points to congress being part

of the problem. he essentially said to maria that we needed more fiscal stimulus. we needed more spending. after 2009 and 2010. he said. he said in the book he thinks that the republican party left him. that he lost patience with being susceptible to know nothing of the far right. he thinks, 2010, how gop's takeover the house, we have had spending decline. he essentially said that that is a bad thing. stop blaming the federal reserve. >> it was not just bernanke. paulson was the one that issued that three page memo. i remember i had an interview with david boyce. a liberal lawyer that works for

a lot of people on wall street. i had him on just after that was issued. he said this is the end of the free market. it is the end of the free market. >> the point is that he went so far. so far in opening that up. i broke the story. 600 points. why did the market go up 600 points? >> the banking system was insolvent at that time. neil: charlie. the market about 800 points. >> that is right. where were we just a few months later? >> here is why. average investors did not see what the professional investors saw which was massive queue we

coming. neil: i agree with david. >> and other dangerous precedent. bernanke talks about this in the book. their decision was to let people, let the federal, they were going to give them the responsibility to take care of themselves. let me just finish. we do take responsibility for our health, our own financial well-being. you are asking the federal government to come in and do it for you. >> to your point about where we are now though. now, the fed is in the trap. they got themselves in this trap that they cannot get out of. they are in this huge financial bubble.

>> needing to be put under fire on this thing. we sat down with bernanke and some other people. you understand why we needed all the monetary stimulus during the financial crisis. suggesting that the republicans in congress should have given barack obama a blank check to do any type of stimulus. dagen: he is still complaining. >> here is the other thing. he fell down on the job. he, alan greenspan, they were printing money. keeping rates at 1%. a government inducement to do stupid things plus free money, guess what you are going to get. dagen: that outlines my previous point. they aired on people protecting themselves. that is my point.

they could have cracked down on the stupid mortgages that were being made and they did not. >> i bet that they had no idea what was going on. we were sitting around here talking about people getting no money down mortgages. >> by the mortgage-backed security. the federal reserve. >> we spend trillions of dollars. neil: very good. take it to new heights. okay. one thing i find amusing is i believe the president had full control when he came in. >> it should have been 3 trillion. >> after the gop took over the house. >> how well did mr. obama --

remember? it did nothing. neil: for nickeas argument is we would have been worse off. dagen: by two pieces of property. >> $2 million. >> on the next kennedy i will take you behind the scenes with the new york rangers. i will see you at 8:00 p.m. eastern you can't breathed. through your nose.

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neil: all right. maybe go to washington and fix things yourself. deciding to run for congress. the only goes and everything else. a pretty big leap. why are you doing this? >> after seven years, even mentioned, neil, not only we

have a tough job fighting the cartel and illegal immigration, the federal government, barack obama has put roadblocks in our way. every step of the way towards our efforts. p 15 all right. the fight against all the illegals coming here. in and out of court. he could be facing some rough stuff. trying to do your job. he was trying to do his job. you are the one that will get punished doing it. >> it has been nonstop. not only this last year alone. we have arrested 19 cartel. this is happening on american soil. our president gets involved in other aspects in our autonomy in our life.

this is where so many people run for office with no intention of following through. this is where anything i have said i have done. if i make a promise, i am going to keep it. the american people are fed up with not just this president, but with congress. neil: at least in the house. a lot of angry guys who share your rage. nothing gets done. we have all of these residential candidates. making sure that people do not get through. we have the lowest deportations. >> i know. it does seem to spike that angry congress. nothing is getting done. what makes you think that adding your voice to the mix --

>> we will have a new congress. we will have a new president. just this border issue, within unsecured border, an army officer that served in iraq, i have a front row seat to be able to articulate what the solution looks like. i believe that executive branch, just like obama who had that majority and every one of those areas fails. if we are given that opportunity to lead, we better lead and fix the problems of our country. instead, this administration is trying to kill jobs when 94 million americans, the highest number in history are not working. this is where the epa, right here in my state, they shut our coal plants and everything.

neil: we will see how it goes. thank you very much. thank you very, very much. we've got this problem with fantasy football. insider trading there. fantasy football. how can you rate fantasy football? apparently, you can. ♪

neil: all right. fantasy football. i frankly have no idea. i know that connell mcshane does. >> coming out and just having a little fun. two major companies involved. daily fantasy football games. lining up to play fantasy football, remember. week to week. you get your team ready. they spend a heck of a lot of money on advertising.

neil: a lot of people. investors. part of a lot of big companies. this guy named ethan haskell worked at one of the companies. cannot play if you work at the company. he went over to the other company and he played. he won $350,000. how did he do it? a sunday afternoon at 1:40 p.m., the football game started at 5:00 o'clock, he posts something with what is supposed to be proprietary information. he posted it on a blog. they say he did not get that information before 1:00 o'clock. we don't know. i have asked the companies about that to see if they would give us some proof. he posted on the blog. they say he maybe should not have done that.

he wins the 350 grand on the other site. here is the thing that is weird about it. inside information. what does this guy know? how does he know that it is going to happen before hand? >> you would think that you are not allowed. >> now you are not allowed to do that. at least temporarily. maybe he did it. say you have, let's just say, you know that every other player are all playing tom brady that week. thirty, 40% of us are playing tom brady. i will pick you know, in other quarterback. not everyone is playing. my odds are better if my quarterback does well because

not as many people are playing. neil: do we know the inside information? >> he posted a bunch of stuff online. people are thinking he did it because he wanted the 350 grand. i do not know if he has been fired. i know that. the idea that you are allowed to play seems suspect to me, number one. the people who play it every day say could be an advantage. i may know what you are doing. >> a lot of money. i do know what donald trump is

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>> $250 billion. $250 billion is a trade deficit with china. he is sick of seeing money go overseas. >> i do not know why. employment back into the u.s. stop manufacturing all of our products over there. l.a. and new york. 20 feet taller because they're going back over. wanting to see these deals with all these countries stop. neil: it also seems to me -- china is not playing fair. china needs us a lot more than we need them. he would stick it to them if

they keep abusing this. would that lead to a trade war? would that lead to violent disruptions? >> fair. it has to work for us. it has to work for them. shipping money that could quite frankly go into our own economy. >> his argument is that we just quit buying their stuff. does he think americans are ready for that? >> increase manufacturing our own country. >> again, fair trade. i think that that is what he is all about. he does not want to get ripped

off by every country around the world. constantly taking advantage. how does your father decide who he talks to? >> he has a great. he has a great feeling. he does love you. i can promise you he does. >> very early on 50-one shot of becoming president. everybody was laughing at his prospects. i just wonder whether something upset your father. >> i will get him back on, i promise you this. i absolutely will talk to him. >> let me ask you about you. the talk was that you and the family got very nervous about a

year ago when he would tweet and say all of this stuff. dad, cool it. here he is running for president. he is tweaking even more outrageous stuff. no doubt about it. do you ever try to dial him that? >> somebody published that story. >> i can picture that. >> there is no one more supportive than me. >> he is surprised where he stands. >> i think double-digit polls to everybody. he does phenomenally well. he does the best in the national polls.

>> i think that people like the fact that somebody is willing to come out and speak. speak like normal individuals. he is a very pragmatic guide. i think it really resonates. many, many years. i think that that really hits home. >> did you go to for like your dad? >> i went to georgetown. >> here is where people are getting a little concerned about your father. one of the rates he has would lift a 75 million, the number of american households, the criticism is some skin on the game. all american families will not. their concern is 35%.

everyone should pay a little. >> so many people not doing anything, quite frankly. >> i think that it is actually the correct plan. everyone is doing so much better off. that is where my father will be passed. tax plans they probably talked about more than this. it will be unlike anybody else in history. >> when america is captured by an isis terrorist, they get put in this case. neil: i understand that. at some point, we certainly will. neil: will you tell me when?

>> we will come up with a plan. he will come up with a plan. honestly, when he gets in there, if he sees the nonsense, it will come to an end. every single day you are negotiating for every single penny. believe me, you will take back to the white house. i see the way he negotiates. neil: would you want a role in his administration? if he ever needed anyone by his side, i would be there. >> give him my best. i am neil cavuto.

>> i am going to cry. very good seeing you again. including the fallout from that storm. it is always interesting when we show this. ten people are dead. billions in damages so what about that stock? actually, knowing the kind of risk that you're comfortable with, i'd steer clear. straight talk. multiplied by 13,000 financial advisors

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neil: south carolina. the latest with the floods there. >> the cleanup has begun. this is the back of a dry cleaners. crews are going in and trying to clean up. they have receded a great distance. look down. look at all of this muddy residue that was left behind.

now, it has to be cleaned up. how much is all of this going to cost to clean up? that question was posed from a statewide standpoint. this is how she responded. >> we will not stop until we get everything we need back up and running again. it is not my concern right now. >> here in the columbia county area, you can see that the flood waters are out. the water is receding. all the rivers here, we are told, have crested. all of those floodwaters are now moving downstream. heading towards low country. communities downstream. you will see additional dam breaches. additional floods. it will be a very tense situation.

they are out at each staging area monitoring these dams, monitoring fees will trouble communities. hopefully reduce injuries and death. neil: jonathan, thank you very, very much, my friend. in and out of negative territory. what is going on with oil prices. they are picking up. some of the oil producers. these are easier said than done. more talk when you consider the imf. normally, they are indicating a slowdown. globally means less demand for oil and the like. again, one day does not trend for a makeup. biotech stocks are getting hurt

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chronicled lane that. >> that is right. the patent system is supposed to read the process. a faster more effect if drug. three and a half dozen drugs from 2010-2014. the rate of revenue growth was triple the rate of subscriptions given out for these drugs. one data point they put in the story was it rose about 3% from 2007-2013. they were up 15%. neil: a lot of drug companies come back and say we have a lot of expensive drugs coming down the pike. >> their patents go up about 20

years. it hits big companies hard. wage growth has been flat, two. talking to dagen about it. medicare should negotiate discounts. the family found out that the savings are deeper, three times greater for medicaid because medicaid can negotiate drug discounts where medicare cannot. neil: i am sure that there is a logical reason for it. they get hillary clinton on their back. a cap drug prices.

why they were down so much. >> if you go the hillary clinton route, watch what happened at the va. we will get more money out of the drug companies. now, something like two thirds of all the prescription drugs. offered her the va. the drug companies say you do that to us. we will just yank our drugs off your formularies. you will not have access. >> who i hate more here. only grading it by who is more despicable. you know, obamacare was there hammering it out. the drug in industry came in. we will be. players on how you write this

bill. doing nothing to rain and drug calling. neil: thank you very much. we have a lot more coming up. how is that possible we are down.ba what do you think we know. we will explain. wow! (patrick 2) pretty great.ke to be the boss of you? (patrick 1) how about a 10% raise? (patrick 2) how about 20? (patrick 1) how about done? (patrick 2) that's the kind of control i like... ...and that's what they give me at national car rental. i can choose any car in the aisle i want- without having to ask anyone. who better to be the boss of you... (patrick 1)than me. i mean, you...us.

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at ally bank no branches equals great rates. it's a fact. kind of like shopping hungry equals overshopping. >> all right. welcome back, i'm neil cavuto, you're watching "coast to coast" on fbn. donald trump and bernie sanders are on the same page when it comes to the pacific agreement. that it's not going to benefit us at the expense of china. in fact, it's going to screw americans. dagen mcdowell, charlie gasparino.

>> i get the far left and far right agreeing on issues, immigration. the far left doesn't like immigration, they think it takes jobs away from poor people already here. trade is another one. listen, it's impossible to know exactly how great this thing is. you have to read it, you have to be-- it's almost like one of those things like pass it to see if it works. but, although it's not as monumental as obamacare, but generally free trade is good for the country, it's helped prices and helps working class people and the jobs in the interim. unless i'm missing something, the numbers do not reflect the anxiety of of those two. it's an issue that's almost demagogued-- >> it's a populous issue, and hillary clinton, and part of

administration with these deals, neither here nor there, it feels it's going to hurt the united states worker. dagen: the upside, a lot of that has happened. china is not part of this trade deal. most of your jobs that have gone have probably already headed to asia and the like. neil: and our efforts are sort of combine forces and screw china? >> but we're trying to work out a separate trade deal with china at the same time. i want to point out, this does benefit, and this is the pro argument of a number of different industries in the united states, the agriculture industry, it will eliminate import tariffs on things like poultry, fruits, soy beans, it helps to lift tariffs on machinery. neil: oh, it will lift the tariffs. dagen: are you not for american farmer? are you getting down on the american farmer? what's good for the farmer is

good for the nation. >> what's good for gm is good for the nation. >> let me try to bring this back, neil,that's my role here. dagen: or-- >> you actually have a role? you said you have a role. >> trying to carve one out. neil: i think that imus is right about you. connell: what did he say? the trump opposition to this doesn't make logical sense to me. i don't understand what he's saying. neil: just hate all trade deals. connell: just hate all trade deals, and now, it's negative for china and so that -- on that basis trump should be in favor of it. supposedly it lowers tariffs and what dagen is talking about manufacturing and other companies so trump should favor it. >> it seems like it's trifling on the jobs part. i think it's net positive on the margins and i think you could argue net negative as well.

if you want to argue about stuff to get jobs going, let's talk about tax reform and things like that, having companies with money here. and that's where there's a jobs issue. helping good small businesses expand. i mean, there's ways of doing it through the tax code, which they're not doing. i think that's more of a jobs than any of this stuff. dagen: with trade, one thing that trump has brought up over and over again are the imports of automobiles into this country. well, this trade deal actually keeps in place our tariff to protect our own auto industry. 25 years for cars and 30 years for trucks, right. neil: we can stick it to countries that are taking advantage of us by not buying their stuff. that was a key donald trump position. >> and then you get higher-- >> i was trying to raise that, but he didn't buy it. >> at the end of the day we make the choice when we go to the store. are you going to look at see where it's made. neil: and some pay gladly more

for the goods. connell: we've proven over time we won't. wal-mart-- >> or target or any-- you're going to pay for a shirt about because it's made in the u.s. for vast majority of people. neil: trump when you think about it, guys, china needs us, a lot more than we need them. they have the surplus and all of this money, investor debt, because we bought a lot of stuff. and we could say we're going to slap tariffs on-- >> and that's a deal he has to ink with the american retailers that carry the inexpensive goods and that's the basis. >> would it call for a trade war with china? >> all but. >> there's not one republican, but trump-- carly fiorina--

>> in the past, i was saying i wonder how much-- >> all the campaign stuff. >> i wonder how much this sort of popular stuff on trade registers with g.o.p. voters. neil: it's more esoteric. dagen: if you say china is bad, but if you get to the nitty-gritty. connell: you're saying china is bad on a deal that hurts china. dagen: you say china is bad or japan is. by the way, eric trump is not happy with you, you keep using a photo of him when he was 11 years old with a mullet. don't you have control. connell: a mullet? >> do i look like i control the photos? >> this is the line we use in reporting newspapers, i don't write the headline. neil: yeah. >> i kind of did, but that's the liability. neil: it's like i thought it looked like the photo from the

40-year-o 40-year-old. >> and carl is not saying anything, he's gone into a shell? >> he's saying is to everyone. >> and he says i miss the old carl when he use today rail on people and stocks. since he got dragged into the insider trading thing he's not going to get charged, i think he's kind of clammed up. it's sad. neil: all right, do we have the eric trump picture. dagen: where he's 11. not that one. connell: that's fine. dagen: no, there were a number of photos that you used neil and one was when quite young. neil: if i were carl icahn, the one we used that looked like the 40-year-old virgin. >> where did you get that picture? he looks like a weirdo. neil: if trump is having any

problems with the picture, look at this one. >> i don't know. i think i'm done for the time being. dagen: you can look at mine. mine head shot is maybe eight years old. seven or eight years old. i should shut up, it's seven years younger. >> did you ever see me with a mustache? >> no, but there's a moment. in the meantime, we've got phil barton here, he just jumped ship from the hillary campaign and is actively supporting a biding presidency. don't need to show his picture, here he is. and biden would be alternative to hillary and yet, saying he is in the administration that crafted these deals, including this latest one that unions find so problematic. so, is he really their savior? >> can you hear me, bill? >> i can and if that's the question, the answer is we think so.

we think in comparison what we really have are down to the choices, neil, and the choices are hillary clinton or somebody else and i think right now the greatest concern most of us have is that hillary may not prevail with all of the noise and chatter going on about e-mails and benghazi and perish the thought that there be an indictment, the democrats need to make sure they have a viable candidate for the general election. neil: i guess i can't understand. certain candidates are good for afar, and once in the race, far from good, doesn't hillary clinton realize that firsthand. what makes you think that joe biden is palatable? his two prior runs were less than inspiring. how does it change now? >> if we look at one thing, the current polls, they have joe biden beating all the republican candidates.

and it's early and polls don't count yet, but the american public is looking at joe biden anew as they're seeing a different person than they saw back in the '80s. neil: do you think it's too late for him to enter the race, even with good sentiment and goodwill, and people think highly of them, that he does not have the structured place to take advantage of hillary clinton's fall here and that your presence notwithstanding, not a lot of folks in the hillary campaign are doing what you're doing? >> in fact, i might take a little bit of umbrage with that, at least on the latter part. i've been talking to an awful lot of people who, like me, were once for hillary and leaving that ship to get on, riding with biden, as they say. so, i don't knowing i -- i don't think i'm an anomaly. is it too late, back in 1991, october 3rd, 1991 that bill

clinton got in the race. neil: i agree, that's a whole different time. i don't know why we go much sooner, but we do. >> we think that joe biden is a known commodity, he isn't a stranger to america. getting in late is not the handicap to get to a novice. neil: bill barton, good to see you. >> good to see you again. we have been talking about the things that are a reality now, that we have u.s. war planes and russian war planes and the last 24 hours, turkish war planes all over syria. you know, there's no air traffic control system over syria monitoring the skies or warning the various pilots that you're coming within a stone's throw of a pilot from another company bombing another group. jason beardsley says the risk of a conflict is higher and stronger than it's ever been. that's all we need is an accident, right?

>> neil, thank you for having me on. this is a tough area, there's a lot of concentration of forces and so you put syrians, russians, turks in the air and americans there, it's ripe for something to go wrong. the president stood up and basically retorically states, we think it will resolve itself and we're kind of pulling back from the issue. when we pull back from this area, vladimir putin and the russians are willing to fill that space in and when they do that, they're looking to roll back american power and that's what we're going to see. we're going to see more and more air incursions into turkey and we'll see that. the president is not going to risk something going wrong. instead, our pilots are going to give the orders. in the space of conflict we're going to stand out first. once again, we see the american role. neil: i don't know if that's the case, you have good instincts, jason, but i know that oil prices have been climbing and a lot of that

could be a bounce up from what had been days, but oil up to the degree it is, besides producers getting together and thinking this has gotten overdone. i think they're factoring a little bit of problems developing in syria and what i'm wondering is, russia has tried to enforce this no-fly zone and we can't interfere. what if we do? conversely, if we had set up our own no-fly zones, what if we do? that's ripe for someone trying to tempt it? >> absolutely. we see some sort of contest of also from the political establishment and the leaders have the contest of wills. we've already heard our president sort of give a little bit and step back from that role to allow putin to step in. >> maybe he's doing that, jason, to see the russians compete themselves. >> you can listen to the words

and see that, but what we run into, instability in the region. pass russians gain more access and control, americans expect to live life on their terms, when we start losing ground or start losing leverage in an area that's rife with conflict over oil prices and things like that. the convenience of today, what we see now we'll lose that and five or ten years, lose access to social media and americans are having a hard time finding jobs. when we pull back and give in to someone like putin, they can stabilize the world order for their own gains if we allow that. pushback, we're not seeing that, we need american leaders to step up and say, look, we're going to take the role and establish the order in order to support american conditions. we can figure this out, but it takes american leaders getting in front of these things. neil: we're talking past each other to your point and meanwhile, it's an accident waiting to happen.

jason beardsley, good seeing you again. >> thanks, neil. i appreciate it. neil: we know that 4 million refugees have been chased out of their country because of everything going on prior to russian war planes flying overhead. now and many more you think will come. ted cruz is saying not a one of them come here, not now, no way. and the ambassador and more refugees fleeing syria. and he's all the way from bahrain. as a former ambassador to that country, you see what's going on and you see how delicate this is and you see the better part of valor for a lot of syrians is to get out of syria and a lot of people are nervous in the region to get out of where they are. do you think it's wise for a senator, in cruz's case to say not a one of them here right now? >> well, i think such language is contrary to american history and american values. you know, we have been a land of refuge for, frankly, our

entire history and before we were even an independent nation, that's number one. but number two, more to the point, american national interests are at stake with respect to these syrian refugees and it's in our long-term and short-term interest to help them, a certain number of them in the united states for two reasons. number one, they're putting huge pressure on our allies, jordan and lebanon and threaten those economies. and number two, we can't expect other countries to step up and help these people if we don't do something ourselves. neil: it's right in their neighborhood and they're not helping. the humanitarian gesture, what worries me about this region better than i, ambassador. but we don't have much paper work on these guys. we don't know where they're coming from and we know that isis and other nefarious elements had talked about sneaking in their guys, you're right we could react, ted cruz

is number one. what do we do. how do we screen who we take? >> i think this is really fear mongering for a couple of reasons. first of all, most of these people are frankly, like you and me. i mean, they're professionals, or they're middle class or lower middle class who just want to make a living. neil: i have no doubt, i think you're exactly right. i share your view. >> right and number two-- >> how do we confirm that? i believe like reagan did, trust, but verify, but we can't do that in a lot of cases, there's no records, no history, no town to call to verify. >> that's not entirely true. neil: really? >> we have a department of homeland that does a pretty good job. we have a pretty good data base of folks and we can put in new screening and enhanced screenings measures that address this concern. the second point i would make,

there are plenty of isis folks who are american citizens, german citizens, and those the more present danger than syrians caught in the cross-fire. neil: thank you, sir. >> thank you. neil: we're up 37 points, a lot of talk, to really, really hard wipe out the loss of the third quarter and the end of the year. after three consecutive down quarters, try to make a go of it and push it into positive territory. it's happened twice since the 2008 meltdown, could it happen this year? we'll see.

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it's happened in two prior years after the 2008 meltdown. the last down year for the markets. they've been up every year since. we're going into the proverbial quarter, so far we're up about 500 points. i think we need to make up another 1200 or so to just get even, there's no guarantee we could pull that off. right now, jared levy says don't get your hopes up. he has some doubts. why? >> i hate to be debby downer, but there's two parts to this, right? let's talk about the financial part and a statistical part. we were down in the second quarter, earnings were down in the second quarter year over year. they're expected to be down in the third quarter. if you compare that to the gdp that puts us into a basically an earnings recession. from the growth standpoint, from a real data standpoint, things don't look positive. wall street tends to be optimistic.

based upon the fact that we may not have an interest rate hike as soon as we thought. markets are rallying, i think that's the only reason we're rally, that and short covering. looking forward, i don't see any big catalyst for growth, neil. philosophically, there's a part of us that wants the market to rally. looking through the jobs numbers and what's happening in the real data and earnings, it's just not there. and there's nothing outside of the u.s. that's going to be a big catalyst to bring us there, if chinese was about to turn around, or brazil or south america was on the precipice of a turn around or europe was on a great turn around, then, yeah, maybe, maybe then we would build in bigger numbers, but i think we move lower than the little spike up by the end of the year. neil: you know, i have a crack pot theory on this and you've been good indulging my fancy, i think they've ratcheted down so much for the quarter completed, that any development would be

greeted with a buying spree and they've baked that into the cake and that's what happened. we'll get the third quarter earnings out, better than dramatically ratcheted down estimates and they're going to run with it and get us over the top. you dismiss that? >> well, it's been the game that we've been playing quarter after quarter for years. >> absolutely, absolutely. >> yeah, so, but here is something to consider, the downward revisions to q-3, the bearishness or the underestimations are less this quarter. so, in a weird sort of round about way, that sort of tells me, you know what? they're not just setting the bar super low. we need to see something a little more substantial and again, neil, most investors are optimists, that's what we're taught at kids to buy good companies and watch them grow, you know, our parents would say, hey, get out there and short ibm or short apple. they tell us to invest and obviously, that helps all of us in our savings.

at the end of the day, it really is a bullish sentiment, but i would be really, really careful here, there's a lot of risks sort of around us that could bring us lower and i think they will by the end of the year. >> you have a very good track record, young man, so i would not ignore that. very good seeing you again. >> thank you. neil: jared levy. microsoft had a whole slew of announcements today. they came out with a phone. it's a 20 megapixel phone, 20 megapixel phone. the new apple phone, that's 12 megapixels. are we getting to the point where these devices look better than real life? after this.

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>> you know, i'm not saying that microsoft is at the point of being cool, but let's just say cooler. when it has an announcement, a lot of techies don't just sort of say, you're not apple.

jo ling kent is at an event in manhattan. and we'll turn to the "popular science" and what to make of the revelations today, but first, jo ling, to you. what do they offer today? >> well, they offered a slew of new lumia phones, you can hook them up to your computer and do your work on your phone, which is interesting. and they unveiled the surface pro 4 which comes out later this year at the tune of $899 and the big surprise item here was the surface book. a new laptop that will rival the mac book pro. and it will be device as fast according to the engineers, that starts at $1500. just a little bit of a higher price point. we also got updates on the virtual reality and some ray bot aliens came out of a wall and microsoft was fighting them and they survived. neil: that's good to know. here is what i don't get.

wouldn't microsoft be cannibalizing off itself with the surface pro 4, whatever they're calling it and this fancy shmancy mac book killer? >> it's possible it could be. it's a different device. microsoft surface pro 4 is about $900 where the other one is $1500 and it has a different kind of capability very much geared towards professional versus the surface pro which is more of a home family student type of device. neil: got you, if you can hang on michael nunez, "popular science." microsoft has changed. it used to be, oh, yeah, microsoft is coming out with something, but they've got their-- i don't know if they're super hip, but hipper. >> that's accurate. it's safe to say there's an excitement in the air and a lot of technologists and reporters were pretty excited about the announcements that were made. >> which announcements in

particular? >> the surface book, i would say, is a historic announcement. the first laptop ever created by microsoft. so this is microsoft heading in the direction of apple and trying to control the user's experience from end to end. they're creating the hardware and the software. all of their products have something to be excited about and i would say the augmented reality head set, that virtual reality head set is for guys like mere, the most exciting. neil: really? it's like, people putting on these big old glasses and like like the human fly. >> it seems silly when you're on the outside watching, but when you're inside the helmet or geared toward productivity or playing games it is revolutionary. neil: no, no doubt and young guys like you eat that stuff up. if you're into it and walking around doing it it's dangerous. having said that, jo ling, i'm looking at a company with the xbox has cool written all over

it. a lot of the microsoft stories they make a case of showcasing that. and it's to bring in younger players and might not have thought of microsoft and cool in the same sentence, right? >> microsoft has been an arbiter of cool for a very long time, but it's starting to pick up the pace a little bit. one thing that is missing from windows 10 and the windows 10 mobile version, is that there aren't that many apps right now, neil. facebook is going to develop an app for messenger for windows specifically, mark zuckerberg saying he's going to do that, but right now, there's actually a derth of apps that they want to play and gaming and transportation. they're trying it play catch up in this department as more and more people use samsung and their devices. microsoft phone wise 3% market share or less. neil: apple should be worried? >> i think that everybody should be paying attention. this is a really big

announcement and the fact that you can run a desk top version of windows 10 from your to desk top is-- from your phone is revolutionary. neil: about the size.

e. neil: all right, we've got, when you think about it, 1.8

million boxes were recalled because everyone thought they were gluten-free, oops, they're not gluten-free. everyone thought they were adhering to emissions standards, in 11 million they were in false emissions. trust, ring a bell? and the stock would tumble, even though it's up today. cheerios, its stock has been under enormous pressure. and connell mcshane, what do you think. connell: it's like everybody did the case study on tylenol and how to handle the crisis. neil: that was not of their making. connell: let's get ahead and be honest upfront, if you do that as a company you weather the initial hit and come through it. i think there are so many stories in the news and even the last few years, how many we covered and you can name off the automakers and now consumer related companies like we're talking about with general mills and flour, supposed to be gluten-free, people at some point once you weather that

nerve storm, what company? and the regular person can get past it as long as you're on there liz: i understand the need for gluten-free. but do we need five varieties of cheerios, what i'm trying to say is that consumers and government are getting pretty hickey, honey nut, nothing wrong with that. connell: hello liz: i think that consumers are getting too picky and the government is getting too annoying. neil: branding themselves as gluten-free liz: and that's bad totally understood, they weren't trying to take advantage, a mistake with the gluten-free. connell: just having all the options you're saying too many options and look at people liz: i'm not getting mad. neil: giving that face liz: what's interesting and this is interesting, watch this. a former-- right, an official. connell: picture this

liz: 30 years ago we didn't know there were food-borne illness out there, the reporting is better. do we have the food recalls? because the reporting is better. c.d.c., usda, and they all have. neil: what about this one. connell: there's flour in this one, had them on the shelf with flour liz: they transported-- from rail to truck and in the truck got mixed up with wheat. neil: and it actually came out. connell: flour, helps-- hence gluten, you thought it was gluten-free. neil: you're letting people down that thought it was gluten-free. connell: and people with celiac disease would notice. that's serious. neil: we haven't had reports of that. that's what makes meaning it got into the hands of people having serious problems liz: what we do know, look at the stat, 48 million americans get food poisoning every year, one of six and we import the products.

remember the china, melamine scandal and that's an issue for food companies. neil: and americans, cynically, i don't trust any of these guys liz: i think you were trying to agree with me, right, connell. connell: of course. you had her and gasparino on yesterday and they were screaming at each other and when they were done, they were both saying the same thing. neil: hold on liz: because men constantly interrupt, see, there you go. [laughter] thank you for proving my point. neil: an update on connell's big fantasy sports insider trading standing. connell: connell's? >> wow, i can't believe this. after this.

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then i could actually maybe upgrade a little bit. and it was just easy. usaa, they just really make sure that you're well taken care of. usaa car buying service. powered by truecar. online and on the usaa app. >> all right. we're back here at fox business brief time. and microsoft has introduced a product announcement that people are looking at, including, you know, their big screen smart phones, a laptop and some more items. microsoft with the surface book, it's a laptop, 13 1/2 inch detachable screen on it and the surface pro 4 tablet as well. lumia 950 and xl smart phone. a lot of microsoft products out and the lumias arrive in november. a lot of attention from microsoft is one of thesewarable devices, microsoft

band that will track your fitness for you and with that we'll look forward to the stock. so microsoft is getting a little bit of a bounce today on that and in terms of the broader markets today. i know that oil is on your screen and stocks, that is up and neil is back in a moment. more coast to coast.

>> all right. we've been covering a lot of this fantasy football, they call it insider trading scandal.

if it's that or a scandal or either, the bottom line, a lot of folks are confused what happens now and the whole sort of unregulated industry had to be reined in a little bit. and richard, and emily, a legal fallout from this whole thing. emily, to you first on whether this is illegal. this guy hopping sites, competitor sites to trade on information that's seemingly was proprietary, and make better than $300,000 off it. is that illegal? >> you can make the argument that haskell's conduct is not to insider trading, that would mean that daily i fantasy sport is a securities instrument. that being said, there's a strong argument there's deceptive practices going on, both in the form of the companies failing to police their employees and benefit

from it and also that the employees are doing it purposely. the spokesperson said it was inadvertent and a mistake and fine, that culpability could be flesh out in court. neil: richard, i would think there would be rules and that 21st century fox is part of one, but what happened here, is that illegal? >> the problem is two-fold. number one, we're in totally unregulated industry, it's not gambling, it's not, quote, insider trading. the second problem is the amount of attention these gambling sites are getting.

if you watch the nfl on fox, you see fanduel, excuse me, the two sites on every commercials, the names, i've forgot them. they're popular. what's happening, there's a calling for, if these are legitimate and proper, there m us be a mechanism, internal or otherwise to regulate them. it is, what was done here is not proper. >> at the least, you guys are lawyers and the pr on this, people are using either or both sides are going to start saying, hey, it's a rigged game. what am i doing, losing on a rigged game. is that a fair assessment. >> i agree, and that's, for example, why the new jersey congressman is calling for hearings on this. it's presently, an unfettered new playing field, right? and that's exactly why the fed is going to step in and start regulating this and first, hold these hearings to ensure the legality. a ton of states are suspicious, washington included, massachusetts next, louisiana, et cetera. they're saying, look, we're suspicious of this so we

regulate it more heavily than states like california. >> richard, you could regulate it right out of existence. you know, a pox on all of these guys. >> you have to be so careful. what they have to do now that this has somewhat imploded in their face. we will do our own regulation, let's internally regulate ourselves before congress takes over. once congress takes over, you can destroy it. hundreds of millions put into the sites, both from fox, both from nbc, from kkr, and there is a lot of money in the sites and to be made, but what they have to do is say, you know what? we have a glitch, we're a new business and let us first try to please internally regulate ourselves before congress comes in and ruins us. >> all right, it might be too late for that, guys. we'll see. i want to thank you both. in the meantime, we always follow the markets in all of the sentiment here, do i tell you when it comes to individual participation, it's actually very, very low. you know why it's very low? because we as a country, as just a herd of investors are very cynical, very down and

when it comes to young people in particular, very much in a funk. tony robbins is here to break us all out of it. at mfs investment management, we believe active management can protect capital long term. active management can tap global insights. active management can seek to outperform. that's the power of active management. but it is not the device mobithat is mobile, it is you. is it keeps the food out. for me before those little pieces would get in between my dentures and my gum and it was uncomfortable.

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take control of your rates. visit a local office or call see car insurance in a whole new light. liberty mutual insurance >> all right, probably one of the more remarkable people i've identified over my career is tony robbins frpt . i say that, he's inspiring people and forbes top 100 celebrity ranking. 5 million social media follows. 4 million people that attended his live seminars. top six business leaders in the world. i could go on and on and on. so when he talks about something, corporate america listens, people listen, average people listen. so you'd be just the guy to

talk about this collective and i want to peek at the markets, that's a separate concern. we're up 13 points, but the markets have been going nowhere fast collectively and little participation. i'm told when i talk to young people, they think the system is rigged and pessimistic and their parents feel worse, they think their kids aren't going to do nearly as well as they are. >> there's no question. we're in a low emotionally. i think what's missing, neil, is a vision. as corny as it sounds, everybody needs a vision, something to move towards. if you don't, you get upset with where things are. kennedy brought a vision, like we're going to the moon. right? various station people have visions, we're going to bring back america, what's our vision, to pay our bills, somehow manage to keep-- >> he resonates with anger. >> yeah, i think that anger is because people want a vision of

something getting down. right now i think our biggest challenge is demonization of both sides. nothing gets done. the american people are done with it. where is the bully pulpit. the person to step in to say, this is insane, we're here to save the people. historically, these guys used to fight like hell have a beer together. and now they fight like hell and don't speak to each other. neil: how do you snap people out of a funk. companies pay you big money to help their troops. >> we have habits and most people are conditioned to be pissed off, sorry, stressed. and they have a highway to stress and dirt road to happiness. and i show people how to wire yourself so you go to that place. it's not about being positive, when you perform poorly--

right now we're missing so many things, this is what we're going to do and how we're going to do it. neil: do you ever look at the way that people feel about this market? and one of the reasons they're cynical and jaded about it and they feel it's a rigged game and you look at it, a whole new book on how the system is rigged in terms of fees that rob them of the gains they might otherwise see. >> the most important area to the average person, where do they have the money to hopefully have digit dignity, on the when i wrote the book, the 50 people in the world, jones, warren buffett, most of the money in the 401(k), the compounded fees destroyed their future.

i'll give you an example. for 30 years the industry has not had to report what they charged youment three years ago they had to report it. now 50 page stock no one can figure it out. i created show me the fees.com. 60% of the population think they pay no fees. 1% of fees costs you ten years of income. neil: turn around and say for the fees you get great returns. >> that's not true. if you put your money away and get the return you want the best track record performance and the least cost. we know that's index funds and warren buffett will tell you. most 401(k)'s most offer one, they say you're not big enough for middling and small businesses. and we do analysis, a large company, they say we'll give you vanguard. their vanguard was 149 basis points, 1 1/2%, ours is .05,

5/100's. >> and the irony for vanguard. >> get it off the shelf. that's 30 times more expenses do you want that for 900,000 or $30,000. people are buying the same product and paying 30 times more to the manager. so i believe in transparency, get it in front of people and they can create a change. any presidential candidate you like? >> it's too early and i'm trying to see what's real. neil: put them all on coals and see who survives. [laughter] . >> thank you, neil. neil: we'll be looking at the markets that few of you are participating in. tony just told you why that is. how we change that after this.

test.

neil: first it was beth bernanke. financial executives not entail.

hillary clinton speaking to and audience in davenport, iowa today. she, too, wants to hold citizens accountable. they get the atmosphere that led to that note down. the battle has been joined. >> hey. deportation of illegal immigrants are at record lows. hillary clinton wants even fewer deportations. one day after releasing radical on control. continuing her move to the left. immigration policies to harsh. i think she has done a lot during the last six and a half years. part of a strategy. i think we have to go back to being much less cars