tv Cavuto on Business FOX News March 10, 2012 7:30am-8:00am PST
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>> brenda: tobin, your prediction. >> doritos, yum brands making the tacos at taco bell with the doritos, going to be a killer. >> brenda: jonas bull or bear. >> 25%. >> i think a dorito based taco before it would drive the stock higher-- >> neil, take it away. >> neil: by now, you know the good news, jobs are picking up. 227,000 more from last month and also by now, you know the bad news, gas prices are also picking up this month. so, just as we're feeling pumped about the recovery, glad to have you, i'm neil cavuto. to ben stein, dagen mcdowell along with adam lashinsky and charles payne, which needs what? >> you know, the jobs number is what it is and i think we've been conditioned and gone over it before.
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cheering the immedia cheering-- with the jobs reports, real wages are not moving and adjusted for inflation, and plummeting, i think that's the scary thing. i don't hear anyone talking about gdp and tepid news and the danger signs are there. >> gas prices are a threat and issues on the campaign trail. what we're worrying about long run, we're seeing higher highs and lower lows in terms of gas prices and luckily, we can adapt and pulling back more than ten years and my worry is, people don't have that much more room to adjust to these higher prices. and how much less can they drive. and i would say not much less than they're already dealing with. and how much more fuel efficient can the cars get for them? not much more, they don't have
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the wiggle room to cope. and gas prices to switch and go higher in a week. >> charlie gasperino, talking to the head of gallop, the people, they've crunched the numbers and i don't know if there's anything to it, but that it would have to get over $5. and i think, take it to $5.30 a gallon. and we had them on fox business. and were it to resonate. now, that seems like an arbitrary figure to me, what do i know. you get it up to there, it doesn't matter how much over. what do you make of it. to-- >> he's saying resonate from a political standpoint in terms of votes. i mean, in terms of the economy, you know, i think it's going to have an impact when it's above 4.50. >> i think it would have an immediate-- >> and here is the thing though, these jobs numbers are really good. i mean, i always thought this was going to happen last year. i mean, it's been a delayed a year. last year, going up to 2011,
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and going into 2010. looked like a recovery and it didn't, a lot of obamacare and businesses scared about higher taxes. it's a political problem for republicans. >> you can see this sustaining? >> i think so. >> mr. lashinsky. >> it's wonderful to hear's charlie's analysis, he he's right the jobs numbers are good, you can see charles. nothing good about $4 a gallon gas, unless you're selling the gas reports. which is more important. i think the jobs recovery is more important. most threatening thing to the the economy is negativity. the more we talk about high gas prices, it hurts people's confidence. right now, americans are fairly confident about the economy. >> and ben stein.
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i just don't want to confuse folks back home that better is the same thing as not still being kind of so-so. the the numbers are better, but-- >> and the stage of recovery, could be allowed there and i don't want to, you know, rain on a parade, but i want to remind people, this is a fairly disorganized thing, like everyone is marching and i want people to be aware of the wobbly and the wavy line. >> 4.3 or 4.4 is considered full employment and 4.4% employment would be roughly unemployment. we're roughly double the level of unemployment that would be considered full employment. we're a long, long way from prosperity. on the issue of gas prices, gasoline prices, most american families spent a small percentage of the monthly income or weekly income on gasoline, so even if it rises by 10, 20, 30%, it's a very small addition to the volt consumption.
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and the only historical data on slowing the economy would be-- >> and that was-- >> and everything went all-- wait, to ben's point, everything went with it. >> we don't have to go that far. 2008. a lot of people saying that big spike of oil, that gas spike was enough to derail the economy and we're not talking one thing so big it weighs us down. we're not talking confidence. we're talking regular people who work at wal-mart or shop at wal-mart and digging in their pockets. >> and the reason we have to have-- and maybe ben didn't make it up is the data on this, the data is quite clear. >> what does the data say? >> it's clear, it's a very small part of most household expenditures and a very small change and it's not a reality. >> remember the 1970's example and caused stagflation,
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because it's an oil price shock. >> one of the reasons it caused it, and careful, dagen, here is what i want to bring up. i don't want to revisit history so much as to say that to both of these gentlemen's credit, where they were talking about the impact, i think that people have gotten used to very high gas for a while. yes, it's moving higher now and i'm not trying to minimize the pain now, but i think if it were a sharper jump from where we were, and not from where we've been, it would be a much bigger and better. it isn't. >> i totally agree with you, that they've become-- >> really? >> and it was the same earlier, they would learn to adjust to that and $4 by the way, was the tipping point back in '08 and it wasn't-- >> and when you see the prices as high as they are to charles payne's point earlier. i think we've gotten, i'm not saying we should get used to it, but gotten used to it. >> we have, we have more fuel efficient cars and big out ways, and i would say that in the economy and let me make
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this point. we have 0% interest rates not because ben bernanke is insane and a lot of people on it network think he is, he isn't. we have 0% interest rates because he's worried about a double dip. he doesn't think we're totally out of this and that's the one calfiat. >> i think that dagen's point, her worry about inflation is-- >> one things that's off setting the gas prices not just this year, but last year, the payroll tax cut. it's largely equalled each or out. if that wasn't there, it would be much more did he have nating. >> we've been worried about inflation now. >> no, no, you're absolutely right. >> i don't disagree with the sticker shock aspect of it, but listen, when you start to get a 4.50 to your point. $5. it's going to hurt a lot of people and the numbers could be massaged any way you want, you talk to regular people with, whose incomes who have not moved. inflation is eating away. >> the most aggressive of
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taxes, too, the higher gas prices. >> adam, final point? >> more people are getting jobs and to ben's point. fewer people are concerned about gas prices, people are more confident right now and that's a good inning for the economy. >> marginally more. >> no arguments, take it. >> we hop in the battery powered scooters,you love. >> he's not denying it. all right, we're going to take a quick break. >> i love it. >> when we come back, the one big exception to the improving jobs trend in the country and get this, the forbes gang loved it. and they're now losing jobs, could be more jobs. up next, what if i told you the x-ray scanners, at the airport built to keep you skaff safe aren't so safe. we report you decide. and hur, which would render retirement planning unnecessary.
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we're live from america's news headquarters. i'm jamie colby. the presidential caucuses are underway in kansas for the republican nomination and rick santorum and ron paul is campaigning in the sun flower state and mitt romney and newt gingrich opted out of last minute visits and santorum camp is confidence of a win. stay tuned for fox news channel for more 1 p.m. eastern. and not exactly the get away vehicle, oh, no, a man in new mexico under arrest after leading police on a chase in a stolen school bus. check it out. the wild ride caught on tape. new mexico state police say they drof them to interstate 40 in albuquerque and the driver shot by police and told he has a history on convictions. i'm jamie colby, on cavuto on business. keep it here on fox. >> they're scanning, should you be running?
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a report says that the airport security scanners might keep things safe when you're up there, but over time, the potential radiation exposure could make you sick down here, really stick. the request for more information and the tsa ain't offering it which has a lot of folks like charles saying enough. >> by the way this is a microcosm of what's going on. the big picture, the president, the executive branch, usurping power from congress and can't ask the tsa for information and everyone is running over congress. >> everything comes back to the president, everything comes back to the president. >> by the way, they've branded this and said we can't wait and they've actually branded this, to get the public to buy into the motion to three branches of government don't work anymore and the true executive of this-- >> could we get away from this, a political point? i'm saying in all seriousness and you could help me with it, that the scanners themselves, it's like if you repeatedly r
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them. i think of our fax sales guys, they're in the air constantlily and go through the security checks 50 times a week and several of them i have seen glowing. so i'm wondering if that's bad and i'm wondering, you know, seriously, maybe there's something to it? >> i think that there's something to the request from the tsa for a deeper study. >> well, that's my buddy's charles' point for them to ignore it. >> and i think though given our government, and given the fact that we have both republicans and democrats, a republican controlled house, there is something they can eventually do with that. and i will say you can opt out of the scanners, and the american people should know that. you do not have to go through them. you can have the full body patdown, which i personally prefer, but-- (laughter) >> you don't have to go through them if you're worried about radiation. >> and did she say she prefer the patdown. >> neil: do you have a problem with that? >> no, i don't. i want to say that charles
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seems to be implying instead of the government doing the deal it should be be privatized. do you believe that a private contractor be would be more responsive to congress than another arm of the united states government? >> i would hold that private-- that private industry as still-- >> here is the thing, why can't, if congress asks an agency to say, listen, we need help on this, this might be harming american citizens and just gets the-- >> and that's scary. why not-- >> and they have to, they have to-- >> you're right. >>. >> what's the big deal? >> and it may have to come to that and why should it come to that? >> ben stein, i know you fly private and this is not quite the crucial issue, but i'm wondering, do you think this resonates to people, especially frequent flyers, and i think probably all over the country. >> all over the country. >> neil: i've thought that that was out there, wait a minute, and do this often enough, you know, you're something bad could happen. >> well, if in fact the
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scanners are conceivably harmful, it is a thorough outrage that the tsa is n turning over all the data. and i don't understand why they would not want to do that or do further tests. that's mystifying, as to the point that our good friend in san francisco raised, i don't-- i think a private corporation would not dare thumb its nose at congress, only a branch of the executive with dare thumb its nose at congress and yes, a private company doing the tests would be terrified and immediately rush up to congress, only the executive branch really can be disdainful. >> i guess charlie gasperino had a good point. if there are indications of-- >> and let me ask you, are you worried about the health? >> have you seen our sales guys? >> and is that the only reason-- >> why aren't you worried about it? >> this is a fascinating intellectual exercise notion
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of that, the tsa could say screw you. >> you're going through an x-ray. >> and it's aviation-- >> you're going through an x-ray and this is something about which i'm quite familiar. you're going through an x-ray machine and our guys doing it thousands of times a week, you know, if there's research out there to indicate that you know, once or twice or authorize in a week is exceeding the norm. what's wrong with saying you might want to consider dagen's patdown for future. >> get a patdown, i'm more worried about crossing street here in manhattan. >> so you should be after this show. and we're going to take a quick break, a very quick break. did any of you see this? take a look at this. >> our journey together hasn't ended. it's only just begun. >> he's always been good to
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me, thank you very much from the bottom of my heart. . >> do you think peyton manning was getting emotional over leaving the indianapolis colts? no, he found out that he does not get fbn and missing our hall of fame election coverage. and a lot of you say that's not what he's talking about. and we've got more coming up on tuesday, alabama, mississippi the primaries and 8 p.m., i'm he going to rope gasperino into helping me and he doesn't know it. we'll have the results and early market reactions offer at the futures markets and only place you can get it all. let other business networks profess that interest and such things and then run skillet infomercials and reruns. and this is the most consequential election as they say it is, we should put in the time which we will. you deserve full service not lip service, enough about me,
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and back to the show. apple with the the new ipad. why do we roll our eyes whenever washington rolls out something new? . [ kyle ] my bad. [ roger ] tell me you have good insurance. yup, i've got... [ kyle with voice of dennis ] ...allstate. really? i was afraid you'd have some cut-rate policy. [ kyle ] nope, i've got... [ kyle with voice of dennis ] ...the allstate value plan. it's their most affordable car insurance -- and you still get an allstate agent. i too have...[ roger with voice of dennis ]...allstate.
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[ roger ] same agent and everything. [ kyle ] it's like we're connected. no we're not. yeah, we are. no...we're not. ♪ the allstate value plan. dollar for dollar, nobody protects you like allstate. >> coming up, america is biting into the next big thing from apple, but the government can learn about running taxpayer money from these
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>> so much. crush a crash. the day that apple announced the latest ipad. i'm not the sure they're calling anything. the fizzling in the face of huge demand from customers trying to order one. we're told millions. that's hard to say. this much is not. apple can't handle all the money it's got coming in.
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and the united states government can't handle the money it's got going out. and speaking of the government. when is the last time you saw this kind of reaction to any new program or new initiatives it came up with. and to adam lashinsky who nos all things apple and one of the select few to hear the announcement, until adam found out mr. cook was going to speak for two hours. adam, what do you make of this, did apple kind of get a marketing announcement, an initiative announcement, and uncle sam? >> well, clear the record, neil, i stayed to the bitter end, i don't want nasty rumors suggesting i walked out in the middle. >> neil: i thought, a sight of you falling asleep. >> not true either. it's a perilous comparison to compare apple with the united states government. >> neil: it shouldn't be. my point is it should not be.
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>> i'll tell you why, apple is not a democracy and our government is. we expect our representatives to tell us, and seek our conditions on things, and apple doesn't do nis that way. you know what's interesting about that though, because, apple acts like a democracy and it makes products that would serve everyone and where government makes policies that serve just the people they like. the government made an ipad. it would only be for right-handed people. >> neil: or union workers. >> i can't believe i'm saying this. >> unfair. >> and that guy from apple, i thought i was incredibly boring. >> neil: have you ever lisped to the president and-- >> i'd he rather listen to obama. >> because you're comparing him to steve jobs, charlie. not a fair comparison, a tough act to follow. >> i don't care. >> i digress, but could one wear a tie. >> or tuck in their shirts. >> neil: dagen. >> anybody who has a lot of gumption and a great idea is not going to work for the government. it's bloated and you're not going to make that much money.
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>> neil: who are you calling bloated? ben? >> i worked for the government a long time, we worked hard and were very creative, a lot of wonderful creative people. >> you didn't get rich. >> neil: you left it. >> i left it because mr. nixon had to leave office. (laughter) >> you were going nowhere, you left it because you were going nowhere. >> no, nixon had been president forever i would have stayed forever, but he obviously didn't stay as president. >> neil: and people who stay. >> and creative hard working people. >> neil: thank you. and so, charlie, not a big-- >> help me out. >> neil: the comparison to apple, you can't make. >> i'm caught up with people, why people stay in government. >> tim geithner. >> i'm glad ben left government because he we wouldn't have -- well, ben wouldn't be here now. >> neil: one of the greatest of all time. and thanks to charlie and dagen, and star in the next
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a daily double that charles could double the money for you. >> subscribers do own the stock. they made an accision. >> and it is a super bet. and little understood mining and mineral use. stay away unless you are an expert in that field. i am not sure many viewers are. >> i am sure some of them. >> i like decker. it is great chance to buy and hold them a year. >> you have to pray for an avalanche. >> it might snow. >> i upon loathe to critize char
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