and cashin. >> is america about to suffer a global trade war threat. china accused mcdonalds of selling expired food and now someone said if it doesn't stop. this will start another depression. >> hi, i am cheryl casone and welcome cashin. our guests this week. so welcome to everyone. and johnathon, you know this region and you are worried about a trade war between the u.s. and china could lead to a depression or freedom means

free trade . that means everiville or citizen or company. you need to look back to ben stein. classic ferris bueller performance hike what they can do to the can china has a powerful economy but enough to push this country in a recession. it is certainly powerful enough. it is a totalitarian government. walmart had 350 stores in china . china decided walmart was not playing the game right. and they made comments on to the chinese press about changes that they thought that the chinese government should make. and they look at control of

inflation and they fined uni leaver 300,000 . they can do that, they can do anything. our imbalance is over 290 million a year. was last year. and so where is their mercy. >> julian who is in charge? that is a well known and proven fact. and same time tariffs that we imposed on them. i think even if there were trade wars. and so it costs $60,000. >> and it is a two-way treat.

let me finish my point, johnathon. >> they chet. and while some consumers like that, because we get solar panels at a less expensive rate. china is trying to corner the market . what congress is doing with a modest tariff is trying to stop them from cornering the markets. >> so bad, tracey, to be honest with you. that's why there were calls for 20 or 30 percent on the tariffs because of what julian pointed out. the power china has economically over the united states has many concerned. they have too much power and are going to bankrupt the companies. >> last year we imported 400

billion. who is going to buy that stuff? i hate to agree with julian and they need us more. we have to come out of the box braver, and say you guys need us. go somewhere else. no one forced to you do business in china and we are not forced to comply with the rules. >> i don't know about the word force. frankly, every major american business has huge operation in the china. this relationship is here to stay. >> yes tis here to stay. julian talking about not having a trade war. i agree completely. what happened with the tariff. in may 1929. economist begged him not to sign the tariff. unemployment went to 25.1 percent. we can't afford to do that. i don't think it is going to

happen. they are cheating, there is no doubt about that, but there is little we can do except for small tariffs like we are talking about on solar panels. >> john, you are saying to tread carefully. >> we need economic freedom. what china is doing. if we believe in freedom we believe in economic freedom. china is powerful only because they moved toward economic freedom as our own country went the other way. they are playing subsidies and tariff games that. is destructive economic war. against china but our citizens who can buy at cheap prices. >> i tell you what, julian. over all relationship with china and it is a huge relationship. there is a lot of frustration on the business side here in the united states with regards to stealing. sets of patents or

undercutting the subsidies and that's not changing. and that's where the war comes here. >> that's the weakness of johnathon's argument. businesses get hurt in the long term it is a question of not just being paid for a fool when the chinese cheat and insist on fair trade. >> that's not true, because julian, we are able to expand production. all of those low level jobs that are done in china, we are able to use those proceeds and create better jobs. you really want everyone working on the assembly line in china? >> i think you are wrong john scion. in the case of solar panels. five years from now. there was a subsidies that they are providing. our industry will be out of business. >> and what about the solar this country is providing. >> it is all part of

government force. >> you are comparing apples and orange. it is not even close. if you want to see that market to the chinese. most people would disagree with you. it is not just me who wants to beat it but every taxpayer who see the money flushed down the drain. >> that is a short term view. >> look at boeing. airline is subsidized by the eu . chinese being subsidized and look at us at well. we have subsidized and gm the detriment of ford . politicians are arguing over etch a sketch and dick durbin wants to investigate the nfl? >> this story is going on and on and on. >> and we will take a commercial break and when we

come back, no appetite to feed the homeless? footed - food police banning donations in homeless shelters because it is not healthy enough. did they go too far? you think gas prices are high now. the vote to punish companies and they punish the drivers. hi, i just switched jobs, and i want to roll over my old 401(k) into a fidelity ira. man: okay, no problem. it's easy to get started; i can help you with the paperwork. um...this green line just appeared on my floor. yeah, that's fidelity helping you reach your financial goals. could you hold on a second? it's your money. roll over your old 401(k) into a fidelity ira and take control of your personal economy. this is going to be helpful. call or come in today. fidelity investments. turn here.

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i remember growwing up as a kid. you took people who were homeless and didn't have food and no one cared if it was somehow bad or thought it was bad. he is trying to take care of the homeless and give them healthier food. give nem healthy food . done with donations is a new york city rule for many, many years. they don't take outside private food .

fromthere is a ton of private shelters that take donations. does it make sense? >> i agree with john and wayne. i think when somebody is drowning you don't send them a lifesaver because it is made of polyurthane and not foam. and making sure food is screened for salmonella. i think the idea of screening food for transfat and salt content when there is a shortage much food is going too far. i think his heart is in the right place and transfat and

salt costs the country. here is the problem. can there is food . my blood pressure is through the roof and now i am suing the city. you would not be surprised to hear that. >> johnathon i do care about your health and care about you how you eat. the only possible explanation for mayor bloomburg. like rats running around the cage he is running a slimy social experiment. he passed regulation on salt and smoke transfat and trying to regulate the sale of alcohol and menu board signage that costs millions of dollars

for businesses and hasn't changed anyone's health. the role of government is to protect our rights and not what to put in your body. this is a slippery slope. >> johnathon you weigh 150 pound and not unbiased enough to comment on >> but it is so if adults are an idiot they need mayor bloomburg? >> no, that is not true. you are missing my point. they don't take any food. this is nothing to do with bloomburg's health initiative. he is getting the blame for this. many people are drugs or alcoholics and maybe can't care for themselves in society

and they need a helping hand. they need to be screened but the question is where you drive the line. we would like them to eat the healthiest food. and we are not living like that. >> that's the whole point. in a free society. individuals draw the line for themselves. that's what a free society is all about. >> and let me take that same point from wayne rogers. a lot of these people cannot care for themselves. i think johnathon's sugar content is too high.

he better watch that diet, that's what i think. >> poor scrawn thon. and you didn't eat burgers on the air we wouldn't say anything. we love you. senate democrats are just days away from killing tax breaks for oil exumpscompanies.

>> hello, everybody. i am uma from washington. today louisiana holds the republican primary and there are 20 delegates up for grabs.

rick santorum is looking to rebound after losing illinois to mitt romney . newt gingrich is looking to gain ground. none of the candidates are campaigning. newt gingrich and santorum are focusing on pennsylvania. >> angry frustration in the nation's capitol. tea parties are protesting. and president obama is dealing with security threat he called the gravest of all terrorist gathering together material for a nuclear bomb. the president is headed to the south korea summit to focus on this issue. i hope you will join us, see you then, stay with us. cthe senate set the vote on the bill to kill oil tax breaks. will that send prices in the pump higher? what do you say?

>> why are they demonizing oil companies. do they get pay back over 40 percent back in taxes to the united states of america? do they understand the subsidies have nothing to do with the prices of the day. when are they waking up? we have a supply issue and middle east issue. >> john layfield, you wanted an energy policy and you just got one. >> we decided to demonize the oil companies . raise the taxes and close the loop holes and accounts for 2.4 billion a year . this doesn't pay off the national debt and it is a hyg taking point. and tax breaks. this does nothing for the national debt or oil prices either. what it does do is kills the independent and favors the big companies which is what we are trying to go after apparently with this. >> christian, are they just

easy targetings. >> julian i think you meant. >> i am sorry. >> no worries, cheryl. i think i have to agree with john on it is taxpayer money going an industry with record profit and those of you who don't believe in government welfare i don't see how you can square the price. production is up since 2003 and obama licensed 400 new permits for drilling and demand is low as it has been in 1997 . tracey's point of price increases at the pump it is a manipulation by the spectators. >> it has nothing to do with 400 million barrels. >> it is always the speculators. when in doubt plame bush or the speculators.

>> do you think the gas will go higher. >> i think if you start driming right now, you am not see that oil for four years and it is dumb we are going to drill and price of oil will go down. it is not going to happy. biggest problem is congress. they allowed eight company oil and company to be four . allowed them to consoidate . we have a monopoly and they are bribing the congress and can control whatever they want to do. competition lowers the price. >> johnathon, last word on this one. they pay a lot in taxes, is it fair to take the subsidies. away. >> i think it is fair to take the subsidies away. get rid of all subsidies for the oil cumps and solar and algae. and wind companies. that's the whole point. and what type of energy is in the best interest.

i disagree with the notion that individuals wouldn't, lehman brothers tried to make a electric car. it failed. so let the market work. >> congress will never admit quantitative easing one, two, three, and up to 15 is the problem. our weak dollar has a lot to do. we'll blame the vicious oil companies. >> julian, thank you for joining me this week. >> thanks for having me. >> well, sound the alarmm. certain typwas crime is on the way up. a sign that american economy is on the way down. and talk about having gen in the game . how a tattoo can help you from missing a business call or text again. or hires another employee, it's not just good for business, it's good for the entire community. at bank of america, we know the impact

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and dc. not a sign of a good economy. >> eight james with the new york jets tebow may lotz faith in god. but you got him and manning. it is great for a video game maker. >> such a crazy story. >> wayne rogers. we are talking about china monopize. look at molly corp. >> we talked about that on the business network. >> buck rogers, and the bionic man and small wonder is old dayings. noka has a vibrating tattoo and your cell phone goes off tattoo vibrates. i think over british telecomis a better option right now. >> such a random and probably will be a huge hit. that's it for the cost of freedom. thank you for joining us and ho have a great weekend .