tv Bulls and Bears FOX News July 21, 2012 10:00am-10:30am EDT
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sector, and there's a really great study that compared states that increased investment in the public sector versus states that decrease, that scale back, and their funding there. and lower unemployment rates, more jobs, better economies, rebounding more quickly than states that held back. that's a study right now here what's going on and in states around the country and so if we apply that nationwide to say that by not investing in science and investigation doesn't make sense. support this kind of measure. there were polls that showed a majority would prefer we invest in science education and stay competitive. >> but at a cost, right? >> exactly. arguing against investing in math and sciences like arguing against apple pie. but i am going to do it with a few facts. since 1970 a public insector -- a public education workforce has increased 100%.
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it is in that same time since 1970 student enrollment has increased 8.5%. so the teachers if we have have graduation rates have stagnated. so, all of this great money that marjie is talking about, investing in science education has gotten us zero. >> brenda: jonas is this that important as to say, tax cuts, this kind of spending when you're looking at the overall deficit, trillions. >> no, i think we're forgetting what caused the bigger gaps. by and large, yeah, they're wasting money, no question about it. but, all of them combined don't add up to just the payroll tax, that's 97 billion
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dollars or 93 billion dollars we don't have the dough for that's just deficit spending, it's more than the pet projects to get through and the ones proposed combined and it's going to have to be closed, and i will say at this point, the government is borrowing such a low rate, that we have little wiggle room, compared to greece and italy. we have to have a plan to close them in five years, not overnight, we can't do it forever, it's a stimulus program largery from tax cuts and increased spending and closed on both sides not just a few solar loans. >> brenda: toby, is this sinking us deeper in debt? how successful has stimulus been so far in creating jobs? >> i may not be a smart man, but the math. if we're borrowing, 4 1/2 billion dollars a day and read this one, university of new york received 389,000 to pay residents in buffalo to find out how much malt liquor they
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drank, it sounds insane, but multiply by 100 and 1,000, if stimulus is stimulating, it would have worked. it clearly didn't work and the main reason it doesn't work for every good dollar that went to perhaps something worthwhile. we spend 8 or $9 that went to frivolous things. >> brenda: go ahead, gary. >> yeah, brenda, i want to go directly to the question you asked. and has stimulus gotten us anywhere. we have so far, since february 2009 spent three quarters of a trillion dollars of the money. back in february of 2009, the unemployment rate was 8.2%. right now, it's 8.2%. so, if we didn't spend all that money, we'd have gotten at minimum the same spot. so, that's almost a trillion dollars that we wasted and as toby alludes to, put is further into debt.
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>> brenda: what do you say to that? >> i say a couple of things. the failed policies that got us in the mess in the first place and to say that, you know, 28 straight months of private sector job growth is somehow a sign we need to go back to the policies of 2007, 2008. >> and i-- >> no, no, i'm sorry, there are folks who are saying, who are saying, well, clearly what we've done is not working. what we're doing is trying to reverse what happened before. i want to go back to people talking about the second company that came out. the energy loan. that got more than the bush administration and obama administration, donning we should tie that into-- >> they he got about the same amount. we're not talking so much obama versus bush at this point, we're talking about spending and stimulating the job market. >> well, it's a euphemism of investment. and remember when we went out and put 370 billion dollars to keep firemen and teachers on the payroll. let's call that what it was, it was a bailout of the states. it wasn't an investment, and
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misconstrued the whole concept. the thing we're talking about, we're just not getting a bang for the buck and that's clear. >> i think you're underestimating-- i'm not sure that the government should play venture capitalist. but the economy doesn't know whether a venture capitalist makes a bad known or whether the government throws away 500 million in the solar company. they're hiring in the short run and private computers-- >> that's private money, jonas. >> i'm not morally it's right, but saying from the point of view-- >> okay. >> in the short run is doesn't matter. >> let's break every window in the countries. >> why don't we have a helicopter drop the money all over the country. by your definition, that's what-- >> and when you borrow money from the chinese and isn't that dropping money into everybody's doorstep from a helicopter. >> everyone can favor efficiencies, but invest in public education and how can we the not-- >> guys, i'm sorry, we've got to go. this is fun. all right. there's a new drive to tax you
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for every mile you drive. proponents say it's needed to put us on the road to recovery. but will it just have the economy slamming on the brakes even more? lio? with the fidelity stock screener, you can try strategies from independent experts and see wh criteria they use. such as a 5% yield on dividend-paying stocks. then you can customize the strategies and narrow down to exactly those stocks you want to follow. i'm mark allen of fidelity investments. the expert strategies feature is one more innovative reason serious investors are choosing fidelity. now get 200 free trades when you open an account. and i thought "i can't do this, it's just too hard." then there was a moment. when i decided to find a way to keep going. go for olympic gold and go to college too. [ male announcer ] every day we help students earn their bachelor's or master's degree for tomorrow's careers.
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after all, when you're going the distance, it's nice to have the experience and commitment to go along with you. keep dreaming. keep doing. go long. >> good morning, everyone, this is a fox news alert. i'm jamie colby. right now, police and firefighters in aurora, colorado are at the apartment of the suspect in the movie theater massacre. investigators saying they're continuing to monitor that building for gases in an effort to determine what they say the suspect james holmes could have used in rigging the apartment. they say killing 12 people and 50 others wounded. in one of the worst mass shootings in recent years, the alleged suspect. i want to bring to you a press conference right now at the apartment in aurora. >> what we've experienced at the neither and so that will
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be the third and final phase of what's happening today. we'll do our best to keep you informed on anything that changes. and if there's going to be controlled detonations or fires or what not. >> sergeant, what can you tell us about the time line? >> there is no time line. i can't give you an end time. with we're hoping to get in there the next hour, but that's about the only time. we have no idea how long this is going to take, i can't put an end time on it. emphasize again, the importance is public safety. it's safe right now with the evacuations, we don't need to rush anything and we're going to do our best to just take our time, and keep it as safe as possible. >> by any fire, explosion or water-- >> excellent point. one of the things that we're also in consideration again, is this investigation, and so we don't want to lose
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evidentiary value and anything in there we're going to be using as evidence and we're going to be cautious how we deal with things, how we take things out and make sure that they're handled in the best manner for our investigation. >> and is there a chance you'll be able to dismantle everything without any explosions? is that a current goal right now? any explosions could damage evidence or are you-- >> again, if the experts that are involved with go about and do this safely without detonation, i'm sure that's what they would prefer. what happens inside, there's still unknowns. keep in mind, we're not exactly sure of everything that's in there. so, this, again, this is fluid. >> what about the-- >> and beyond that, i was told by law enforcement officials they believe there are liquid accelerants and black powder
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in jars to fuel any fire. how do you know how-- they would be? >> we are aware of some jars that may contain some accelerants and the mutual aid in the work that's happening with the partnership of everybody involved, you've got the bomb guys, right next to them is the fire guys, so the communication there, the incident command is amazing. so all of those things are taken into consideration before any move is made. before a bomb guy makes a decision, he consults a fire guy. >> there's been a chemist there, as well, i'm told to decipher what some of these may or may not be? >> yes, we have -- we have national experts here to handle all that. >> and robots or-- >> so, all right, so that's the brief overview, i know you guys have tons of questions and again, we're still planning a two o'clock
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briefing today over at our -- where you were yesterday evening at our amc building on alameda. again, we'll be here, available for any updates, any breaking updates and we'll send those out via twitter. >> what's your handle the people to follow on twitter, the public. >> oh, our twitter is @aurora pd. >> are you able to tell us if you're sending somebody in or a robot, are you sendening a person or a robot. >> initially it will be a robot for the first thing. >> and that will be decided at that point. >> thank you, sergeant. >> thank you. >> all right, that was the aurora police department actually giving an update what's going on at the suspect's home right now. they have a very difficult situation, they've called in authorities from all over the country, experts, bomb experts, fire experts, they still don't know what's in those jars, what's in those barrels, in the apartment. and the goal of course, to try to preserve whatever evidence
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they can in there without anybody getting hurt. let's go to mike tobin right now,'s live in aurora, also monitoring this press conference with me, mike, what's the latest? >> reporter: well, i think the most interesting thing we heard from that press conference is that officer mentioning the fact that they are anticipating that they could get someone inside of that apartment within an hour, but no guarantees. she said the situation is very fluid, and the first thing that they would probably get inside there is the robot. the robot could very well just go in and have a look around. they've got a bunch of different uses they could use for the robot and they could reach out with a robot hand and moves things around and possibly manipulate things and also used for controlled detonation and you also heard from that officer speaking just a couple of moments ago, they're not entirely sure what is inside that apartment, they don't have to proceed quickly and they want to preserve any of the evidence that's inside of the apartment. now, you heard the police chief discussing a-- or describing that apartment yesterday as protected by a complicated network of booby traps. the police got a camera inside of there and the chief said he
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thought he saw a mortar bomb, a number of incendiary devices or fire bombs and they've got the chemical canisters, they're not entirely sure what is inside of them. that's why they have the sensor equipment to try to sniff the gases and that could tell them what is inside of those chemical cannisters, and now they're getting help from federal bomb experts to look at the evidence, they're gathering the video, the information from the centers to try to determine exactly what is in that apartment and how they will proceed and move forward. here is what the chief said about it yesterday. >> it is a very vexing problem, how to enter that apartment safely. i personally have never seen anything like what the pictures show us is in there. i see an awful lot of wires, trip wires, jars full the ammuniti ammunition, as far as full of liquid, some things that look like mortar rounds. we have a lot of challenges to get in there safely. >> reporter: now, the
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suspect's father, james holmes, arrived here -- arrived in denver yesterday from california. the family released this statement that their hearts go out to the victims and their families. so far, we know of no warning that james holmes would have done what he allegedly did. he was an honor student, he played soccer, he excelled at science. the only indications that something was off are that people said he was a quiet guy. he didn't get along with people. he spent a lot of time immersed in fantasy games or role playing games on the internet, but nothing to indicate as far as what would have set him off to start amassing this armament two months ago and ultimately execute his plans, jamie. >> mike, you want to let you go back and get news gathering, and we'll update you and keep it here on the fox news channel. [ male announcer ] at scottrade,
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>> lots of folks hurting for work are raiding their retirement funds. a new study finding 63% of unemployed and 34% of underemployed americans are tapping into their 401(k)'s this year and toby, you say that's trouble for the market, huh. >> it is on two ways, number one is that that money they're pulling out they're probably never going to put back in. statistics showing they're pulling out at a faster rate than allowed to put back in. secondarily, it's taxed and goes back less and the third thing is they're so far behind in the way their 401(k)'s gone, excuse me, they're going to invest conservatively which is bad for the stock market. they're going to be buying
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bonds and low paying stuff and not stocks. >> brenda: but, gary, this might drive profits and might drive the markets? >> it could be good. i guess it depends on what part of the 401(k). if they're taking out more of a money market fund and it's not sitting there and not doing anything and i took the money out and bought a chevy, in theory if a million of me did the same thing, bought chevy should help the price of gm stock, there's more velocity to the money at least it's out there being spent and doing some good and that of course raises the profits of the company and should in theory be reflected in the stock market. probably in the long run, i know, i don't see a lot of down side to it. >> brenda: okay. but, jonas, this is really nothing new. i mean, since the market went sour in 2007, individuals have been pulling out their money. >> unfortunately, the individual investor kind of gave up on the stock market in the '07-'08 stocks.
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and this is coming out. these 401(k)'s are stocks and mutual funds. some is coming out. they're not buying chevies, but paying mortgage payments, and thought real estate was an investment. and that's a situation, a good asset and putting into a garbage asset or lower growth. and the penalty they're paying and and top of taxes and paying a penalty. and deal with that issue in the hard times. it's money leaving the stock market and that's why the stock market has been stuck where it is. ultimately it will flush out and the economy will grow hopefully, but without real estate turning up, i don't see it stopping. >> brenda: very good news for the market? >> the tragedy is not the short-term impact which is relatively minimal. it's the long-term consequences of it. it's sad that it has to happen. even though the balances are
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relatively small, you're not prepared for retirement. delay retirement savings for ten years, could be the difference between retiring at 65 and 85 and that's the problem. the tragedy, why it has to happen. because it's such a muted recovery and jobless lack of recovery and stagnant wages and that's the reason it happened and that's why we have the problem. >> brenda: and see it continuing? >> people are going to continue to withdraw, unfortunately, it does not help the markets, guys. >> brenda: all right. thanks, guys. yahoo!'s new ceo getting all the buzz this week, but someone here says eyes are on the wrong tech giant. the name that could pop 30% in five months. [ male announcer ] let's say you need to take care of legal matters. wouldn't it be nice if there was an easier, less-expensive option than using a traditional lawyer? well, legalzoom came up with a better way. we took the best of the old and combined it with modern technology. together you get quality services on your terms, with total customer support.
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one company. google is still the way to go, 30% in a year. >> brenda: larry, what do you think of that, bull or bear? >> too rich for my blood. bear. >> brenda: okay, what do you like? what's your prediction? >> investors are starved for income right now. look overseas to find that income. also, a weaker dollar could benefit foreign based investments. good for investments like ibb, dow jones selective index pays over 5% yield. filed that in the u.s. >> brenda: for international companies mainly. gary b, bull or bear. >> i'm bearish on it, dead money. >> brenda: jonas, your prediction. >> okay, most of the job creation, believe it or not is going in beleaguered california, even though a city is going bankrupt every week and biggest company in california, chevron. >> brenda: toby, bull or bear on that. >> i'm bearish mostly because jonas said it, but i do like oil prices. >> brenda: what do you like, toby. >> microsoft, i used 8, and killed it. >> brenda: jonas. >> the mobile models on their
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be tablets. >> brenda: is it going up 30%? >> i guess not. >> brenda: neil is up next. >> . >> neil: on a week when a top democrat is saying food stamps and unemployment insurance are stimulus and the president argues the really successful businesses do it on their own, what is happening to us. welcome, everybody, i'm neil cavuto and call me worried, worried for a country whose elected leaders call the symptoms of a slowdown as the cures for slowdown. with food stamps and welfare are our goal and not improving the economy that should make them unnecessary. then i start to wonder whether what made this country great is gone and whether we keep this kind of stuff up, maybe it's time to sell this new brand of capitalism short.
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to ben stein and dagen mcdowell, adam lashinsky and charlie gasperino, what do you think, dagen? >> i think it goes back to the argument a we've been talking about for several years now, what role does government play in our lives? who makes the country great? is it the government or the private citizen snz and i think we are right now at a pivotal moment in our country's history where we're in danger of becoming, as a nation, so dependent on not only government money, but the government making decisions for us as individuals that either we stop it in its tracks or we are going the way of europe and i'm talking about not just food stamps and government assistance and i'm talking about medicare and all of the above. >> you know, ben stein, i've suspected that government is the reason why you're the success you are, now we know why. >> well, when my parents got out of graduate school, they both worked for the goveren
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