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tv   Cavuto on Business  FOX News  September 17, 2011 7:30am-8:00am PDT

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behind it. customers could buy all pretty much their grocery cart could hold and there was a catch. they only had two minutes to do it. grab what they could, and fast. and now, i want you to grocery cart over to washington. and now, the president of the united states, and same deal, bigger cart. only difference is we are he' paying for what he's throwing in that cart. and lots of stuff because he's getting kind of frantic and doesn't have a whole lot of time and faced with a buying binge backlash at the local neighborhood solyndra and the president making up for lost time, taking up anything solar. it's kind of looney, people paying for the grocery cart, us, are out more than half a billion on that mega munchy, and throw the heck down? i'm neil cavuto, let's he get to it ben stein, charles payne, dagen mcdowell and rounding out our contestant, adam lashinsky and charlie
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gasperino. what do you knowing. >> evergreen solar costs massachusetts and this solyndra, 535 billion. >> million, rather, and last week, 15 more of the projects trying to ram through before september 30th deadline and this is scary stuff. i mean, not only are they wasting taxpayer money, but smells like political chaos and this stinks so bad, i can't believe that they're still rushing to push more through. >> neil: dagen, the reference to the dash for cash at the grocery store game show, you only have a set time before the end of the month, in the envelope department to use the 10 billion dollars on hand for whatever purpose or it goes away. so, the administration committed billions more t green initiatives, that might have the same same-- >> at least four companies have gotten money from the government since solyndra filed for bankruptcy and you have more than a dozen lined
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up just by the end of this month. and get more cash, but the problem is, something interesting that was uncovered just in the past week, is that when you get this kind of money from the government, it isn't spent well. you've got half a billion dollars going to solyndra and it looks like that could have pushed the company over the edge, they get the money and then build the factory and don't need and increases supply and investors won't come to the rescue. >> you've got a huge loser if you think about it. if you get more than half a billion dollars and you still go under, you know, think about it. and the government to spend it, under pressure for the government to do something with it. >> and the mad dash for cash analo analogy. do you think that now, the administration is with abandon, just desperately trying to spend the money before they can. >> of course they are, but i think it's kind of interesting that people actually surprise the solyndra thing came up. i can't believe it took this long for something this absurd to pop in.
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because i covered state and local finances for many years and you know, when we talk about infrastructure, you have to answer, infrastructure is like tunnels to nowhere. make work projects that don't actually work. and this solyndra thing is a function of that. can you imagine if they actually pass that infrastructure back? there will be a solyndra every day. >> ben stein? >> it shocked me that the government takes money from hard working taxpayers, and spends it on energy projects which are clearly going to be losers. it was clear by 2008 that the chinese were dominant players in solar energy and the u.s. players could not compete in a big way. and never the less, president obama was so arrogant he thought he could take 500 million and dump it and it would work. we already have a working energy strategy, oil, gas, it works fine. let's let the private sector do this and the government is just involved in too darned many things and get out of the private sector, mr. obama.
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let the private sector figure it out. >> and you want adam in there and then i'm going to gasperino. >> go ahead, adam. >> with all due respect to use one of ben's favorite lines, i'm sort of shocked, ben how naive this debate is. i've covered companies, charlie-- >> whoa, whoa, whoa, we're leading with this debate. naive or otherwise, continue. >> i think it's an important debate, neil. half a billion dollars is nothing to trifle with, the question, none of us knows there there was illegality or fraud. >> how about stupidity? >> the legality, how about stupidity? >> that's where i'm going. i mean, stupidity happens. van was a stupid investor by private investors, a massive-- >> this is taxpayer dollars. >> people do stupid things. that's the market, and by the way, you learn from that, you don't learn from something like this. >> and-- >> i will say this though, i don't think the president
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cares if this works or not. half of this notion of stimulus is merely to try to put some people to work whether the project merits, has an economic merit or not and i tell you, that's what happens on the state and local government level all the time when they talk about infrastructure spending. and now that we have a president that wants to do the infrastructure spending from washington, we're going to get a lot of this here. >> we've got a lot of warnings, even within the white house this was not going to be on the up and up. we don't know where that's going, charles. what we do know, despite things we're ramping things up with the other questions of technology, and so, wouldn't the better part of valor be to wait it out? we're not doing. >> no, we're not doing that and i think the game is almost over for the president with respect to this alternative energy stuff and i think he sees the time clock and everyone's made great points. he wants to wrap up jobs, maxine water says where are are all the jobs and dagen,
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says the train and railroad companies, and guess what three went bankrupt? they did. and the notion that the government can pick winners and losers is unveiled to us all the time. look at the publicity traded companies in the space. where the stocks are from the 52 economies, the best performer i found was down 69%, that was the best performer. >> you alluded to this. it's just beyond the government misspending taxpayer money, it's the political favorism that also goes with these types of programs. >> ge. >> and mark my words. >> ge. >> and bank of america. >> and regardless. >> a big time obama donor, with solar city, google was an early investor in that, it's amazing. you talk about a tangled scary web and all of these people getting backed by taxpayers. >> all politicians are guilties of it though. don't forget the program was set up at least under the previous administration. >> and, but wasn't it stopped in its tracks at one points? >> i guess to the issue of what happened. the argument forward the beginning, you alluded to
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china very big in the market. it was big in the the market because it subsidized the industries and these technologies, and much as we've, you know, we have to fight and boeing has to fight the airbus, which is essentially a government supported portion in europe, that was the justification for doing this here now. if in, the final proof that it's just, that's not a good strategy? >> it's a mass production item, it's really like making pens or papers, not particularly high-tech, once in the past in the u.s. china will likely be able to outperform us in the sector and the government should have known it and extremely arrogant of mr. obama to think he was going to beat the chinese, all of the alternative energy none of them worked. and-- >> i don't think that people should get tax breaks for buying electric cars either because it's far and wide.
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>> neil: you know, if you didn't put a southern accents on that-- >> forget about the president's jobs plan did congress come up with a better plan? the forbes gang saying that a new bill trying to fight back union power might just power up the job market. that's at the top of the hour, but up next, the government's ban on light bulbs forcing a major change and a price hike on a classic american toy. no matter what's cooking with the new easy bake oven, the size of the goodies doesn't remain the same. >> they're so small, it looked like a jennie craig commercial. >> they're small, but still packed with love.
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>> hi, everyone, this is a fox news alert live from the fox news headquarters. i'm jamie colby, there are questions about safety of air shows and an n.t.s.b. safety
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investigation after a horrific crash that left three people dead at least and dozens more injured near reno, nevada. take a look at the video of the aftermath. a vintage plane plunging full speed into the seats narrowly missing a grandstand. and set to determine the cause and the mechanical problem with the planes's tail maybe to blame. reports from the front line of libya that rebel fighters are plotting the next move after suffering a major setback. fighters said to be regrouping in the city, and the most symbolic strong hole remaining in gaddafi's regime. and battling with machine guns and rockets and pushing through crowded residential areas. i'm jamie colby, back to cavuto on business, keep it right here on fox. >> neil: the light bulb is gone and now a mini blow torch is lighting these and now in compliance with the new fed
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regulations. >> that's right, nobody will be looking at it today. >> and the easy bake often, are no longer using a light bulb to bake goodies, heating like a real oven and the makeover and months before the incandescent light bulb ban kicks in and ben stein has been stashing and hoard thing the bulbs in case. you were way, way ahead of it. >> i'm going to keep on being ahead of it. i may not be the world's best stock picker, but i know an incandescent light bulb when i see it and i'm going to go to the market and get more. and the government to regulate the darned easy bake oven. it blows my brains out, i can't believe it. it's absolutely incredible. >> neil: and we'll get to it. if you're going to ban incandescent light bulbs, and
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ban it in everything and easy bake oven, to me was always weird. did you have an easy bake often. >> yes. >> how long does it take to cook things. >> wham, bam, and-- >> now, the new element takes longer, for what? >> i haven't, i haven't tinkered with the new one. i've still got the old one stashed somewhere in my mama's attic along with the light bulbs i'm going to be hoard, again, it doesn't speak to government regulation when you ban something, when you change something like that. there are all the knock on effects you never think about and you know what's going to happen. it's people, ben is going to have his own black market of light bulbs, incandescent bulbs after a while once they're phased out. remember, we did a reenactment of the man with the open rain coat and i don't mean in a lewd sort of way, but selling light bulbs on the street corner.
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>> it's funny, because ben stein is on national tv and he's going to be doing stuff the government doesn't want him to do. >> i don't think i'm not allowed to hoard. not allowed to buy in advance. >> neil: just got the memo from the government, i don't know, i don't know. what do you think? >> i once wanted an easy bake oven as a kid. >> neil: you had issues. >> and my father, the former marine, said-- that's a true story. >> neil: i didn't like-- >> i like to cook. >> neil: i can't make italian sausages and takes forever and charles payne, what does it mean? we're making fun of this, but the fact of the matter is, this is taken to extremes. >> dave: it is. >> neil: of government initiatives. >> dave:. >> we're talking about the government picking winners and we're talking about the fact you've got to make electricity and energy more expensive while you try to make things look better. here is something you don't
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realize. a one second google search uses more energy than the light bulb for an hour. >> really? >> says that google information on data given an f. they might know the size of a small country, but the point is it's so inconsequential in the grand scheme of things. >> and half baked? >> you know, neil, i tease you and charles before for your lack of reagan optimism and where is your faith in the free market here? i-- >> the free market? >> and what are you talking about? >> i haven't finished, charles. i see an opportunities for cute little flashlights that parents are going to buy their daughters and sons, like charlie, and look inside the oven. >> what was the cost of the new one. >> $20. and it now uses, it now uses a blow torch. >> what's great of story, it
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disstills how much the government costs and in a way we're laughing about it, but bringing back difficult painful childhood memories for me that stain me to this day, by the way. think about it, a perfect example how much big government has cost us. the easy bake oven, three times as expensive. now, my parents definitely wouldn't have bought it for me. >> your parents out there, there's a tiny little blow torch. why make friends when you can just buy them? a 3 1/2 trillion dollar stash of cash can buy a lot. [ courier ] the amazing story of whether bovine heart tissue canake it from australia to a u.s. lab to a patient in time for surgery may seem like a trumped-up hollywood premise. ♪ but if you take away the dramatic score... take away the dizzying 360-degree camera move,
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>> here is all you really need to know about us and china right now. we're desperate to come up with ways to save cash, they're desperate to find ways to spend cash, man, oh, man, they've got a lot of it. in the land of the the cannolis, helping italy out and in the caribbean with a one billion dollar handout and hopefully didn't shut down-- a and. >> you drive a lot of hard bargains, guys, this is the crazy news. next week, the brics, india, south africa, china are going to figure out how to bail out europe. figure that one out. i'm calling it reverse colonization, colonelism. this is crazy and what
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happens. and i wonder 20 years from now, who is going to bail us out. >> and dagen, what do you think of it? >> if only. i want them to spend their money elsewhere. 1.2 trillion in treasuries, china owns, it's about 12% of our public debt. >> neil: they're hedging their bets? >> i want them to know the give it to us, because we're drunk on it and it's been easy money that we've been borrowing from china, take it elsewhere, as long as you don't stop dumping our treasuries, and we can't handle higher interest rates. >> neil: that's what would happen. >> not if they he stop disbursing it. the more they give it to us, the more we're beholden to it. >> i think they want to give it to us for that reason. looking at a good investment here, italy. >> because your name is gasperino. >> i'm talking my book here. >> and ben stein, we got word that they did in fact buy an italian marinara maker. i know you were curious.
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but what do you make, they have been busy. >> at this point they're being benevolent, kindly helpful with their trillions they got off the incredible sweat and underpaid labor of their labor force. but at some point, they're communis communists, they're communists and execute more people every year than the rest of the world put together. they're not nice guys and at some point they'll want control and we'll be sorry when that day comes. >> that old twilight episode we discovered, the cookbook, the cookbook, right? >> and be that as it may, neil, this isn't political. this is a country with a lot of money and spending it. remember, it wasn't so long ago that-- >> everything they do is-- adam, everything they do is-- >> no, but this is no more-- >> they want to control the world and this is how you do it. be the world's banker and dependent on it. >> and we did the marshal fund and we spent money. >> all over the world promoting democracy. >> well, first of all,
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that's-- >> it's a sovereign nation with a lot of money. >> one that has grand designs of world domination. >> they don't make, they don't make-- >> i'm not arguing, i'm saying it makes sense-- >> what about the notion, the marshal plan and we're the recipient, the western world is in na bad of a place that we need the marshal plan to save us. >> very good point, charles, very smart. >> good point, never thought of that. >> guys, thank you, take a quick break here and thank charlie and thank dagen. the governor picking 15 winners? not so much. our gang picking stock winners? well, i like their chances. ♪ [ male announcer ] each of these photos was taken by someone on the first morning of their retirement. it's the first of more than 6,000 sunrises the average retiree llee. ♪ as we're living longer than ever before,
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tiffanies get strength in europe. i would be concern body europe. >> can you just buy the blue boxes. >> i went to the cavuto section. >> yes, that just glows and lights up. adam, what are you doing? >> juniper. this company has been slammed on weak results in the software division. it is a competitor with cisco and going to come back and extremely cheap. >> ben? >> it is cheap if we know the future. what everyone knows including the great genius of technology analysis in the silicon valley, this is the right price. so i am not inclined to outguess them and think that adam can either. i hope i am wrong. >> what are you doing in the meantime. >> rqi. it is a solid dividend play.
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it has problems and covers from the lows and off from the four year ago high. i like dividends. >> what do you think? >> for a person like ben long-term investment is -- i think he is on to something. >> ben talks long term as same as adam. >> ben is 400 years and adam five. >> and could be next week. >> for my long term needs. that is what we are talking about. >> and thank you very much. up next, forbes on fox. >> forget the president's plan, did the house just pass the best job's bill for america. house plan cuts the power of the nation's labor relation board so they will have a

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