we talked with sheryll cashin about her book, "the agitator's daughter." this is about 15 minutes. >> the agitator's daughter is the name of the book, and sheryll cashin is the author, she's also a professor of law here at georgetown university. who's the agitator? >> my dad, dr. john cashin jr., who may he rest in peace, he just passed this last, past year, yeah. >> what kind of an agitator was he? >> well, um, my dad founded an independent democratic party in alabama at a time when the regular democratic party was dominated by george wallace and the dixiecrats. and despite being a dentist and a two-time valedictorian, his advocation was agitation, and he poured hundreds of thousands of dollars of his own money -- this is in the '60s, mind you, '60s and early '70s -- into this political party so that alabamians could vote for lyndon johnson rather than george wallace and that the hundreds of thousands of newly-registered black voters would have people to vote for. could not just vote, but also run for office. and so that was his life's work, and he was ve

galore was this guy john cashin and his brother james came over to the u.s. during the potato famine and that one was a slave owner and one was not and we descended from the benevolent who was not true. we did dissent from this guy john cashin but inconveniently he was a slave owner and not only was he a slave owner, the father of my great-grandfather great-grandfather -- hershel's father, that guy's father who was also named john, was one of the more prominent slaveowners. so here i have to contend with not only did i dissent from slavery but i descended from considerable wealth, born of slavery and i could tide my family's history of relative advantage to four generations of educated people. my great-grandfather was -- had a classical education in philadelphia and became a lawyer. at the time it was new and a revelation and i reconciled myself to that by what my grandfather, great-grandfather chose to do with that. he chose to go back to the south which he didn't have to and he chose to work for people of color. he chose to identify with people of color whe

welcome to "cashin' in." this week we have jonathan, tracy, todd, jim is here, and joining us this week we have sally cohen. welcome to all of you. jim, i'll start with you. why do you

welcome it "cashin' in". we have wayne rogers, jonathan, tracy burns, john, and joining us this week, sally cohen is with us. welcome. tracy, you say this talk of nations coming together to rescue europe is bad for taxpayers in this country. >> cheryl, this whole kumbaya stuff is expensive. we send money to the imf, they send it to europe. is anybody in europe paying attention to the austerity measures? no. everyone keeps saying he did it. no one takes any blame for anything anymore, including here at home. we keep bailing our own selves out. it has to stop or no one is going to fix anything. why should you when you just expect the check is coming in the mail. >> should we be bailing out europe, in fact, because what happens over there keeps killing our markets here. it's been nothing but problems for two years. >> the problem with europe started by greece, they lied about their debt, they never had that 3% level you're supposed to have to get in the e.u. so they don't have anything to go back to. and right n

welcome to "cashin' in." this week we have jonathan, tracy, todd, jim is here, and joining us this week we have sally cohen. welcome to all of you. jim, i'll start with you. why do you like this two-year plan for high school kids? what do you like about it? >> everybody pays taxes, whether they own a home or not, whether they have children or not, everybody pays for education, and every year they get worse education and it costs more. we've dumbed down our school program to rush kids through the system. why not do it the other way? why not had let the achieving kids rush through the system and get away from this burgeoning ed accuracy? beyond that, we're spending money on things that aren't being productive for our economy. let these achieving students, send them the message that if you achieve you will be rewarded. the idea we're going to get any of this taxpayer money back is kind of a mirage. taxpayers never get any money back. it will move on to the next boondoggle. i think it's a good idea. >> half of pr

i am cheryl casone, welcome to cashin' in. >> we have wayne, and johnathon and lori . john, and joining us is emit. and welcome to all of you . lori, i want to start with you. they are planning to create cities that are private in honduras. this will save us money. >> the united states is going broke. we are watching one city after another going bankrupt and politicians not reigning in the spending . cities are losing funding from the state as well as the federal government. why in the bring in private enterprise. they have all of the carb and they can maintain levels of risk. gost is notorous for running business badly. >> what do you think. you think it is making them private. >> you am see a privatization waive in america. they are weighing in on the tol road and airports and turn into a private sector option. that's going to happen because of the budget. cities get 41 percent half of the revenue from the state. >> the state gets 36 percent from the government. the cities in san bernardino they are firing school crossing guards because they don't have the money. >>

operating system that will be more expect wive apple and the google android phone so to have that cashin sures a level of comfort to people while they go through that process. >> tom: you also mentioned subscribers as one of the glimmers of hope here. and earlier in the week mentioned 80 million subscribers. but really isn't the question here, colin, the ability to grab market share. it has continued to see its market share erode down to 10% in the united states now compared to google and apple which have been growing their share. >> well, there is positives in the results and it was nice to see the total subscriber base grow to that 80 million it is important to remember that the company still saw revenue decline by 31% on a year-over-year basis. the number of units that were shipped, that 7.4 million for the entire quarter that compared to the 5 million apple sold and on its first weekend of sales are for thix phone 5. so this is a company that has-losing share, people view the platform as being behind the curve technologically and they still have a lot of ground to cover to catch up.

jonathan hoenig from capitalist pig hedge fund and cashin' in. >> great to be with you. >> kelly: a mixed one hand the consumer spent more in august, but most went to pay gas prices a he we talked about and apparently the americans are not spending as much, what concerns about saving more and spending less. >> spending, consumption itself is not inherently a good sign. keep in mind, that was the justification for the stimulus that we spent. we want people spending more, that's gone down the drain. in actuality, consumption is the end of the productive cycle, the wealth is consumed and there's no more of it. we should be looking for any growth in the economy is some signs of production. people making more investments and hiring and that worries me, is that the long-term economic indicator. i'm not a hater. i want positive signs in the economy. unemployment, housing and the gdp remains unbelievably week in spite of the here and there slight up ticks in the economy. >> kelly: you said something key there. that's production. we don't see enough production, in fact don't see enough manufacturi

joining me the portfolio manager for capitalist pig fund, jonathan hoenig, cashin' in.like it when you're here, jonathan. >> thank you, jamie, great to be with you. >> jamie: i'm really curious, if the stocks are holding steady the next couple of months, critical not only to the election, but the bush tax cuts in our fourth quarter, retirement reports and all of that jazz, how much can you read into that based on the fact that we're not gaining new jobs even though the stocks, most of them, seem to be hanging on where they are? >> yeah, you put it out. there's one positive economic indicator, jamie, that we really have, has been the stock market. a lot of the major indices not far from multi-year highs. certain names like apple and wal-mart, amazon, for example, coming to mind and doing quite well. interestingly, those sectors, the companies that didn't get any of the stimulus, any of the assistance you alluded to earlier, and that's exactly what from wall street, especially after that. you used the disappointing, the word that was bandied about, the pathetic jobs repor

art cashin telling us earlier there were sale imbalances. 13,559 at the last trade on blue chip average. volume once again on the light side today on the heels of heavy volume friday with the s&p rebalance. s&p 500 giving up three points today, about 0.25, 1456. nasdaq gave up 20 points, to finish 3160. we're getting closer and closer to the election and more investors are concerned about a major market slide ahead of it. we're a week ahead from the always dangerous october. what are our next guests expecting? we get to our guests doug cody, wells fargo funds management margie patell, and rebecca patterson and our own rick s santelli. rebecca, you're looking at more than equities, in particular currencies. what's the latest out of europe and where you would be positioned? >> we do have some exposure to europe in our portfolios right now in the equity market but it's selective. it's companies that might be domicile in europe but where a lot of revenue is coming from outside of europe. we took advantage of the euro rally in the last week or so to hedge some of that currency risk back to b

art cashin just told us most of the volume at this point waiting to close is on the downside.ials down 18 points. the nasdaq down about 20 and the s&p 500 about 3.25 to the negative. richard and peter back with us. when we were speaking a few minutes ago we talked about volume and liquidity. didn't get your thoughts on the market as we go through the end of the year. what are you looking for, a good time to invest or sit tight? >> i think it's probably going to be better time over the next 6 to 12 months than people think right now. pu couldn't ask for people to have a more bearish view of what's going on. look at what the elections is all about. i think people will be surprised. the earning season could be a little messy. the dollar is up, foreign growth is not good. the multinationals are still having trouble. >> but you like some of the smaller american focused manufacturing companies. >> i do. >> and the smaller banks that finance them. >> i do. i think there's the beginnings of what people call the american industrial renaissance. we're gaining market share here in the un

>> well, i think cashin capital management, my concern is that there is no risk built into this marketna and japan having ships go nose to nose and it was a world cup match and iran, the iotola has recalled all of the special forces out there and head of the revolution guard said a battle with israel is inevitable. none of that is in the market. i would have preferred to have seen a better market. >> because it's a liquidity driven fed-inspired, don't worry about it, i'm inoculating you. this is about the fed, isn't it? >> you are absolutely right. >> it's a very powerful phenomena. >> it is. but will the fed inoculate you from a bomb falling somewhere snl. >> well, don't chase the qe ral he look, he talked and the fact that obama is leading in the polls and the market has to consider the fact that aggressive rises in capital gains tax. that may be a fact. at what point will people sell anticipation of that, do you think? >> i think they are nervously watching and they bought into the qe thing assuming that the gridlock will continue and perhaps from the presidential polls to the presi

joined this morning by ubs director art cashin.rning to you. >> good morning. >> if the market has an institutional memory here, at least, you're it. and it's a lot of discussion about that day today even the weather seemed to be exactly the way it was on that day. >> absolutely so. it was a very clear and sunny september. lots of hopes mulling about and then the first plane hit, and strangely people forget that just a week before there had been an accident where somebody was parasailing in the harbor and collided with the statue of liberty with no damage. the first plane hit and i'm sure people thought it was some amateur event again. and when we found out how serious it was. and i can remember mark haines broadcasting and pointing it out as it came along. very, very eventful day for all of us. >> here we are 11 years later, dealing with issues of the day. i see boehner's being quoted now as saying he's not confident at all congress is going to work their way towards some compromise. we're holding up in light of serious issues ove

let's bring in art cashin. good to have you.like this rally we've seen in futures and around the world is basically from china. would you agree? or do you think there's something in spain to be hopeful about? >> no, i think that's a good call. i think the idea that chinese were going to do extensive stimulus in here has kind of perked everything up. of course, you've got to remember that their shanghai market had gone to a multiyear low. so this is clearly another bailout attempt. so we'll have to see how long the medication holds. we've been down several sessions in a row. i will tell you i was somewhat amazed that the data at 8:30 didn't put a bigger dent than this rally. those numbers were almost recessionary. >> the durable goods you're talking about? >> durable goods and the gdp revision. >> sure. 1.25, basically, 1.3. >> yeah. >> well, why not? why wouldn't we have seen more perhaps of a negative response, in your opinion? >> well, i think, again, there's a hopeful look over to europe. they want to see how things are going

red cashin, an nfl referee for 25 years through two super bowls doesn't blame the replacement refs. for at this level of the game? >> well, it's a combination of speed of things that happen. these folks are not used to these million-dollar athletes. they're not used to 70,000, or 80,000 people in the fans. or plays that happen with quickness and severity and the talent that these guys have. >> red says it takes about two years to get used to that speed to see the game in slower motion. the nfl did issue a statement today on the seahawks game saying it supports the decision not to overturn the on-field ruling but a key point of that also as the league also said there should have been a penalty for offensive pass interference which would have ended the game in green bay's favor. that was a botch too at the end. >> what also makes me crazy, obviously bad officiating is bad enough, but i'm worried about the safety of these nfl players. a lot of folks are as well. when you have bad refs, they may be trying their best, but they're not ready for prime time. and could really endanger some o

. >> as art cashin said yesterday, it's not money collector, it's money manager, and you're entrustingy. >> and we've spoken so much about relative performance. you know what i think it means to the overall market. it was back in late 1989 that money managers gave performance x qualcomm. we started to see some of this a year ago. it's going to be very interesting to see, especially with that data up there, carl. how many people try to say, well, this is what we did for you on a basis of x net of expenses, but we did it without apple or we did it with apple. startling that one single security could have such an overall impact on a broad diversified portfolio. >> it's great data. see you in a few minutes. let's get over to chicago, check in with rick santelli at the cme and get the santelli exchange. >> good morning, carl. i don't know if it was art or some other economist, but i think art made the same statement that there are no free lunches. and there aren't any free lunches. welcome to the lunch bag table here. let's go through, and you can see how ridiculous some of this truly seems

. >> art cashin. get ready for another big day of trading. a lot more "squawk on the street" in just a moment. and i took nyquil, d, but i'm still stubbed up. [ male announcer ] truth is, nyquil doesn't unstuff your nose. what? [ male announcer ] alka-seltzer plus liquid gels speeds relief to your worst cold symptoms plus has a decongestant for your stuffy nose. thanks. that's the cold truth! [ male announcer ] what if you had thermal night-vision goggles, like in a special ops mission? you'd spot movement, gather intelligence with minimal collateral damage. but rather than neutralizing enemies in their sleep, you'd be targeting stocks to trade. well, that's what trade architect's heat maps do. they make you a trading assassin. trade architect. td ameritrade's empowering web-based trading platform. trade commission-free for 60 days, and we'll throw in up to $600 when you open an account. >>> and there is the opening bell for this monday morning. kicking off the week with the dow, the s&p, going to rustle the nasdaq at multiyear highs. of cour