tv Bulls Bears FOX Business January 24, 2016 2:00am-2:31am EST
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when i was in high school, no one taught me. that's our show. see you next week. from the snow coming down to the ups and downs on wall street, hi, everybody. this is bulls and bears. despite some ugly days the markets finally seeing an upweek in 2016 but they're still down for the year and now two thirds of ceos are warning that it could get worse if d.c. buries them in regulation. is that what's really hurting the economy? let's ask the bulls and bears this week. welcome to everybody. suzy, this is your issue, girl. job creators say government
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overreach is their number one problem. so is that the problem with our economy? >> it's one huge problem and every week i rule against regulation. let me get granular about why. complexity is business 101. today it's 800,000 pages long. it has to be to account for all the paperwork presenting rules being poured out and on and on. look at this. for obama care, every 30 minutes a doctor spends with a patient there's an hour of paperwork? but it's not just the fed. it's state and local governments. they've gone into the act with gusto. you don't have to obtain a license to close in milwaukee? these regulations they're out of control and of course ceos are worried about it. they should be.
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>> you rook at this survey. ceos are worried about overregulation. cyber crime, you name it, this is number one. >> as well it should be. you know, just to put some financials around the great points that suzy made, the regulations now under the obama administration are costing the u.s. $200 million a year. that's $838 per voter. to put that in perspective, that's half the auto industry. that's a third of the financial services industry. that is a huge hit on gdp. we can't make every regulation go away, but when you take the amount of regulations that's half of a sizable industry in the united states and put it on the backs of the voters out there, of course it's going to cripple the economy. >> if the government could get out of the way a little bit maybe the economy could be doing a little better. ceos are making 300 times what
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they did 20 years ago. unions are weakened. this is lobbying at its finest. you have corporations that spent all this money on getting rid of regulations. we're not what we were in 1936. we're a much larger country and so that comes with that comes more laws, but the reality is ceos are doing better than ever and they've been kicking butt. >> and their stocks are many the tank and i'll only point to obama care. they ripped up 1/6th of our economy. you've put coal out of business under the obama administration. how does that help? >> it doesn't. those numbers, they're just flat wrong. corporate profits are down. this is the weakest recovery from history. the average has been a gdp
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growth of 20%. if you want to cherry pick your numbers, you can have your own opinion and you can't have your own facts. the facts are we have too much regulation right now and we have three times the amount of that president bush put into place. barany frank was the one that said lower standards. early 2000, let's roll the dice on mortgages and all of a sudden he's showing to fix it. and they don't deal with the market. it's just silly regulation for absolutely no reason. >> joe, are you pro regulation? >> first of all, let's put in in context. your global ceos they're talking about global in other countries. you've got other people in europe that don't have to deal
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with obama care. it is an issue. global ceos are dealing with much more global conditions. they are also very high on the series of global warnings. but i'm sure he doesn't like the regulations in america that say you can't have a polluting car and they cheated to get around it, but the bottom line there is some benefit to the regulations. you know, we didn't have fishing regulations there would be no fish in a lot of places. >> suzy, let's not believe that these regulations only affect big corporate fat cats. they affect the little daycare provider who now must document that every child brushes their teeth after lunch. that's a regulation that affects us. small business owner right out of her home. they have to be fined if they
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get caught so this is not just about fat cat ceos. that's who regulation is suffocating and strangling. >> we're talking about -- i'll point to what the obama administration has done. health care, financial services, student loans, the internet, let's not forget the new regulations on the internet. the electricity market. >> well, exactly right. and in fact, i'm waiting for them to call the oil executives to congress again and now say, you know what? we were wrong to look so hard into you guys. we're going to give you money we're hurting so badly now. even when they make their regulations they're ill advised. we have what, 800,000 pages in the federal register. you know why we have that? if you're sitting in the department of agriculture, you don't have a department or
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revenue department you can show. we have all these restrictions now, look how great i'm doing. that's the problem and it's exacerbated when we get the lefties in running congress and all these departments because man, there's nothing better they like to do. >> it's lobbyists. we all know how congress works. the more lobbyists the more regulations you're going to have. >> most regulations are under obama. >> we just have the free trade deal. do you think that's going to help the free companies or what? i think this is about profit. >> you proved my point. nobody likes regulations more than a lefty. you're all clapping out there. you love it. >> i'm sorry. i like to drink clean water. >> but john, we're talking about regulations that make it more costly and more difficult for a company to operate and the money
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they spent on regulation does not get passed on to the employees. >> and let's look at the economy when it was doing extremely well under a democrat. the one thing that obama did was through the small business fairness act that stripped out of this regulation act. and the eps trying to put a cap in trade. you put all these regulations in. everybody who says if you're going to do something do a flat carbon tax. it is insane what these guys are doing because congress has no idea what they're doing so they put regulations so they look like what they're doing. >> i think there's room for improvement because the regulations are not some not necessarily the easiest way to do something, like car emissions, they could have done a cap on emissions standards and all the bureaucracy, they've got
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new financial regulations yet there's no regulation that's going to make it harder to find that at an early stage so i think we've got to focus on what's doable, not just having them for the sake of having them. >> thank you guys. >> that's why we have a bad patch work of regulations. >> hey, neil, what do you have? >> markets on a wild ride. some wonder if we should have bailouts on the brain. chris christie telling me to forget about it and forgot how much they stand. is it the time they spend that's really going to matter? we'll see you soon. >> thanks, neil. but up here first, if what's happening with the market doesn't have you spooked, how about lawmakers blocking a bill to tighten careeniscreening on
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fox business brief, u.s. stocks recovering with a modest rally on friday. the dow closing up 210 points but down nor man 7% year to date. stocks settling above $6 a barrel. starbucks reported quarterly earnings that topped x peckations and a key metric also disappointed wall street. revenue that easily beat the estimates but the credit card giant to trim a billion bucks over the next years. and the federal reserve announc announced its first interest rate increase is having the same effect as four quarter point additional hikes.
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senate democrats blocking legislation to tighten screening for syrian refugees entering the u.s. the same week we find out at least half a million visitors overstayed their visas last year. it's time to hit the pause button on this refugee program. >> absolutely. they don't want to do anything about refugees that are coming from a place that we can't verify from buy metrical data. we're talking about stopping for a time being because isis has said they're infiltrating these refugees, stopping them from war torn countries where we cannot prove where they are. we always spend a billion dollars on refugee programs. >> what's wrong with slowing this down?
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>> well, in the short run is the -- it is cheaper i think for all the countries accepting refugees for making areas secure in syria because you need to not let all the good people from that country. that said, there's other costs of not -- you said overstated visa. the cost of american money, they're spending more money if they're a tourist. so you don't want to lose tourism because of this and good immigration is good for the economy too. i think we have to implement a system where we can track properly people that come over as tourists or imgrants and benefit from them as ways for the americans. >> but safety and security first and foremost, right? >> look, here's the good thing about americans. they feel a moral obligation to take care of the weak and the helpless and the weak, no matter what it costs.
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here's the bad thing about americans. we have a very hard time wrapping our heads around evil. you think about the terrorists, they attended a christmas party before killing. we want to be the old america, but it's the new world and i think the only solution is the one that jonas mentioned is that we have the refugees stay in their own country. it's the most cost effective idea. >> well, there's a visa problem and a refugee issue. the refugees are screened by five different agencies, a 21-step process, the visa process which is housed -- >> it's been blown up in the war. >> i'm clarifying this right now. the visa issue and bio metrics is screening it's looking at blood, the visa program does not have a bio metric issue and
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that's how the 9 sln 11 terrorists got in. and of the 5 million people only 1% have been overstaying their visa. so it's a visa issue. >> look at what happened on germany on new year's eve with more than 1,200 attacks. about half of those were sexual assaults, most of them committed by people from the middle east and north africa and many of them werepause, halt all
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refugees coming into the country until we figure out what we know and what we don't know. >> thanks, guys. cashing in just over an hour from now. what do you guys have from now? >> we're paying iran $1.7 billion. now they're trying to plan n nuclear plants. but what about big celebrities going around the globe and cashing in. >> up here first, forget kids playing hook ki. some kids are calling out sick to protest pay and school conditions. now some parents are fighting back.
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to michigan and a new push underway to force 85% of detroit school to shut down. now republicans want to make those illegal. the kids' interest at heart. what do you say? >> public schoolteachers make more than any other public schoolteachers than any other teacher in the country. what they're doing is illegal. get back to work. >> this is the united states. teachers have the right to strike. gary's absolutely right. detroit is a good place to be a teacher and they spend three times as much on students in detroit and only 10% of detroit
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students can read proficiency. i like this strike actually because it draws attention to the fact that the teachers are part of the problem and need to be part of the solution. >> how does walking out help the children. >> i think the teachers are rising the attention to the kborn governor. i don't think it's the best optics. i think they could have chosen a better way, but it calls attention to the fact it's not able to teach. it's the cost to the students that's the problem. >> not legally allowed to strike. detroit and flipt are in a serious problem. they need to do when obama's there. they're paying for water $1.5 million a month. there's no tax base in those cities. they still live outside of detroit and the only way to solve this is federal money, but
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they are in bad decline and you can't cut your way out as we learned with the flint water problem. >> this has nothing to do with the governor. this is an embarrassment to the education system in the united states. i'm not a fan of the teachers' unit. this is appalling what these kids' conditions are in. >> what about how they're already compensated. the teachers, are they part of the problem? >> absolutely part of the problem. you've got one of the richest school districts in the world. the teachers striking is not going to fix the school conditions. that's where they need to be. >> thank you so much and a big chance to suzy for joining us today. whether you're getting hit by the winter or not, the name that could have you shoveling big profits.
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take it from super storm, get on an airplane and get out of there. good for the airline industry. >> now if we could just shove a glove in your mouth, the call for freedom continues right now. one of the things that's come up is, look, if they are on the ropes again we are going to have to rescue them. we are not going to let a bank of america or citigroup go. would you, if you were president faced with that, what would you do? >> the truth, i think they have had their one rescue. they should have learned the lesson and i would not look to rescue the banks. >> if we have a president christie he will not help another bank on the brink. is that the case? are republicans saying with tough love bailouts are
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