now, to charles payne. charles payne. >> incredible. he wasn't the first one, two months ago the mexican guy was in the rose garden in america, with the war on drugs in america, and-- >> i did mine with a french accent, but stay calm. >> this is amazing, all of these gutless, i don't understand it. listen, europe's problems are their own, they've been festering for decades and you know what it is, redistribution of wealth, stolen wealth from the the private industry and given it to the public sector and the rich, smart people left and now they have debt out of this world, can't control it and keep it going and want something like angela merkel to pony up some cash. it's not going to happen and it shouldn't happen. >> gerri. >> i agree with charles and i'm not quite as exercised. >> can you do this with an accent. >> oh, oh. >> about all i got. >> neil: that's fine. europe's high court, what they had to say. if you wonder whether europe can cut the cost. six weeks vacation that the european workers get. if you get sick on vacation, your

>> that's charles payne coming to work.ter) >> this is getting support from democrats and republicans. >> and beats the private jet. start low and work your way up. >> neil: that plane would not be good, i need the big ole 727. dagen, what do you make about that? >> why should i be surprised by that, but it's disgusting. >> and with the spending, what are you talking about. >> where is the urgency that our taxes are going through the roof the end this have year and the urgency to deal with that looming monstrous problem? there is none. but instead, this is, exemplifies whether it's on student loans and rural airline service and once you start today try to take something away from somebody, whether you're sitting on the right or the left, people go bananas. >> wouldn't you risk ticking off a bum of bi-plane operators? i'm showing those and how many representative those-- >> a huge lobby group. (laughter) >> i grew up-- not mountain bicycling. >> i group p in a small town, rural town. >> it where they don't have-- >> we're lu

joining us is ben stein, charles payne, dagen mcdowell and stephen fitch. and charlie, you raise a very good point. in the scheme of things, this looks like a pimple on a you know what. >> and we should point out they lost 2 billion on the trade, even with that loss they're going to be making something like 3 billion dollars this quarter, next quarter and it may have a 12 to 15 billion dollar earnings year, so, this is, i mean, there's a lot of reasons, politically why they're doing these hearings and i think that jamie dimon is a big opponent of aspects of dodd frank and they want to show that this guy maybe shouldn't be an effective spokesman, but i tell you that report we got and first reported on fox business, really shows how little this is compared to this huge elephant. everybody knows it's there, by the way, what this report did different, it spelled it out in explicit details how big it is and it's unfunded accounted, and municipalities if you go by the public statements would add up to about a trillion, 900 billion according to the report, the rea

. >> gerri willis, aside getting concerned for charles payne blood pressure and health, if the subject, a general view here that the blame game has gone into hyper drive. >> they have to blame somebody. can i make a point about barosso we heard at the top of the show. he ran portugal, right? portugal has a gdp of connecticut. he knows nothing of big economy, incapable of deciding how it might work and make it go. >> business debt to gdp 108%, household over 100%. he ran portugal. >> neil: okay, you have me there. and the economic-- but you have put me in this spot. >> does that remind you of the u.n. they have the mindless debates at the u.n. >> absolutely. >> neil: they blame us for everything. >> gaand one of the president's couldn't criticize him, he's saying everything the president did. >> neil: yeah, defend that lashinsky, defend that. >> let me say something unpopular here. to an extent he was right. >> unpopular. >> "we are the world" leaders and how did we-- >> and charlie. let me finish. >> sorry. >> we did screw up in 2008. one of the ways we screwed up by the way was making

charles payne finds a disconnect. the jobs are there but what is going on?> listen, we have haded a situation where people have actually been encouraged not to go look for work. wait for the perfect job be to come around. we will take care of you and you will get extended benefits. we created a society where people have been encouraged not to go out there or wait for the perfect job. the bottom line. human beings have a survival intent and especially in america. i do worry about the occupy crowd and some people who might have been sitting on a sofa for too long. to your point there are jobs out there. people looking for work becomes a self-fulfilling prophecy. things will get better when people believe they are getting better. >> don't you feel smarmy penalizing people who are are being penalized by obama economics. my dad bar tended, drove a cab, did what he had to do. we have an economy where people are falling out of the work force. unmany ployment rate going up. a really nasty economy. why are we penalizing people hardest hit. >> historically, people hav

charles payne is speculator. arles, a lot of americans think you greedy speculators make prices rise? >> first of all, things that bill o'reilly said, i don't mind. i want to start there. just the idea that oil belongs to all of us is like the most marxist thing i've ever heard him say. [ applause ] >> i would love to be able to go bill drive home tom night, i pitch a tend on his lawn. me and my family will be cooking out because it's our land, it's not his house or his property. it's our land. the idea somehow speculators are always right. j.p. morgan lost $2 billion on what, speculator speculating. you don't always make money. you don't put a hole in the ground and black gold rushes out. >> john: but don't speculators make us pay more? >> speculators bet the price will go up. ultimately the price will go up. >> every time you do a transaction there is a buyer and seller. someone is on the other side of that trade. someone is speculating it will go down. when it goes down, speculators never get the credit when it

charles payne is speculator. arles, a lot of americans think you greedy speculators make prices rise? >> first of all, things that bill o'reilly said, i don't mind. i want to start there. just the idea that oil belongs to all of us is like the most marxist thing i've ever heard him say. [ applause ] >> i would love to be able to go bill drive home tom night, i pitch a tend on his lawn. me and my family will be cooking out because it's our land, it's not his house or his property. it's our land. the idea somehow speculators are always right. j.p. morgan lost $2 billion on what, speculator speculating. you don't always make money. you don't put a hole in the ground and black gold rushes out. >> john: but don't speculators make us pay more? >> speculators bet the price will go up. ultimately the price will go up. >> every time you do a transaction there is a buyer and seller. someone is on the other side of that trade. someone is speculating it will go down. when it goes down, speculators never get the credit when it

now, to charles payne. charles payne. >> incredible. he wasn't the first one, two months ago the mexican guy was in the rose garden in america, with the war on drugs in america, and-- >> i did mine with a french cc

ben stein, charles payne, dagen mcdowell along with adam lashinsky and charlie gasperino, charles payne, what do you think. >> the unions are losing now big time in the court of public opinion and going to other courts trying to rectify it and i think they're making a gigantic mistake. in san jose, the pensions are almost 200%, firemen, you run into the burning building when others are running out and police officer, take care of the bad guy. but have to listen to the will of the people. and have to draw a line for reasonable compensation, bottom line. i think they're making a bigger mistake. >> neil: i think that san jose stood out because a largely democratic town and democratic mayor, and essentially said, dagen, look, i love the unions and i want to protect the pensions and protect them. but we've got to reign the costs in so that i can. >> why this is such a watershed potentially, is because the people in san jose voted to cut benefits for current retirees. and if this goes ahead and the unions fear this this a great deal and by the way, we had another big, big vote down in san die

charles payne and dr. laugher and i guess after this, i'm going to have to talk to them a little bit about how we run things in the military. okay, when you come in late to a briefing with the general, it's not a good thing. that whole personal responsibility thing, huh? well good, it's a pleasure to have each and every one of you here, dr. laffer, we have the spot for you right next to mr. johnson. everyone knows i'm congressman allen west from florida's congressional district 22. thank you. and we will get right to the meat of why we are here because i think this is a critical topic that we have to talk about. and i got this little book here that every now and then i go back and read, and it's call rediscovering black conservatism, it was published in 2009, and written by lee h walker. over the past 30 years, billions of dollars have been poured into black communities across the country in hope of curing a host of well-documented social economic problems, including failing schools and inadequate housing,

think you, charles payne. texas governor perry is calling today's ruling a stomach punch to the economy, and texas was fighting to block the implementation of the law. what happens now, governor, what did do you? >>guest: well, true, it was a stomach punch to the american economy. it doubled america over, you look what is happening to the stock market and people an sword this, and, i agree, i agree that this is about this november. what the -- and i think about it the supreme court should never have even had this bill. this is a great indictment of this administration and the congress that pushed through a piece of legislation that they didn't even read and admitted they didn't read and now we are finding out the huge impact economically. i feel like i am watching the movie "the godfather," and the american people, the godfather in the face and says i will make you an offer you can't refuse and that offer is you are going to buy my insurance. if you don't i will tax you. >>neil: you might have heard --. >>gues

charles payne and dr. art laugher. after this i'm going to have to talk to them about how we run things in the military. when you come in late to a briefing with the general. it is not a good thing. that whole personal responsibility thing. it is a pleasure to have each and every one of you here. we have the spot to you here everyone knows i'm congressman west from florida district 22. and we are going to get right to the meat of why we are here. i think this is a critical topic of what we have to talk about. i have this little book here and every now and then i read it. it is called rediscovering black conservatism. i think very at the beginning chapter one it talks about over the past 30 years billions of dollars have been poured into black communities around the country into a host of problems including failing schools in adequate housing and crime and drug abuse. despite the efforts of many local institutions agencies, school leaders glass root organizations and community residents, the problems remain. problems ha

and that's charl payne. i don't know i'm maybe, but that's charles,'s a genius. >> there's different types of hot. >> neil: there is, exactly. i'm still trying to find my own definition. well, shares of these companies doing something today that may be predicting how the justices will rule on the health care law this thursday. why that may have congressmen and doctors, very, very worried. ♪ ♪ ♪ ♪ with scottrader streaming quotes, any way you want. fully customize it for your trading process -- from thought to trade, on every screen. and all in real time. which makes it just like having your own trading floor, right at your fingertips. [ rodger ] at scottrade, seven dollar trades are just the start. try our easy-to-use scottrader streaming quotes. it's another reason more investors are saying... [ all ] i'm with scottrade. the teacher that comes to mind for me is my high school math teacher, dr. gilmore. i mean he could teach. he was there for us, even if we needed him in college. you could call him, you had h

. >> we go to ben stein and charles payne and dagen mcdowell along with adam lashinsky and charlie gasperinoight. and i mean, and you know, it's funny to hear the media covering this thing and the great things it protects, it leaves out the great costs it also presents. >> and it leaves out the media, leaves out why it's constitutional. and listen, just on an individual basis, just for people, forget about the companies, small businesses,

charles payne brings the pain from the fox business network. how are you, charles?i'm good, bill. bill: do we know? >> we know there are a whole lot and, of course, stockton now is the largest. but there are some gigantic cities out there that face these same problems. stockton, if you were a city employee after a month, you and your spouse were guaranteed medical benefits for life. those kinds of things are outrageous. i would say if we thought about this as a dartboard, bull's eye right now would be probably detroit. everyone's looking at detroit. all the talent has left. they've hiked taxes dramatically over the years. they've got these unfunded liabilities. the state almost took the city over. that's probably first and foremost. but you couldn't write off towns like los angeles, you couldn't write off philadelphia, and there's a whole bunch -- bill: l.x. a philly? >> oh, absolutely. chicago. chicago's really up there big time. over the next two or three years all of these names you're going to hear rumblings about them x. here's the thing, these are contracts. s

now we have a fox business network's charles payne to go over all this with us. >> hi, patti ann.s is from the pew center. the number they came up with, 1.3 trillion. i read a report that the obligations could be 300 million to $4 trillion. patti ann: my gosh. >> we're in a very dire situation. patti ann: it varies a lot from state to state. some doing better than others. illinois has only 45% of the money it needs to pay these obligations. they say you should have 80%. how bad is it? >> to your point, according to the pew center only wisconsin has 80%. that is how bad it is. you mentioned illinois. this is one of the states with extraordinarily high unemployment. to combat that they are raising taxes. when you raise taxes your most innovative citizens leave. your most successful businesses leave. they make the problem worse. hear is the problem. a lot of public employees were made the promises. they have what is known as defined plan. they were promised certain amount of money over certain period of time. how did they come up with the money? they assumed they would make 8% a year

get ready for the less known tax hikes that no one has covered but we have and we are and charles payneck about it. charles, now

his debt, his deficit and his problem and he can't blame bush, from the fox business new york, charles payne monica crowley. we will gr play a political quiz here. >> ready. >> ready. >> sean: what do do you if you are the incumbent president and you haven't create aid single job and you have lost a million jobs since you have been president, what do you do if every attack you have used, including an attack on shamas the dog, the war on women and bain capital backfires and what do do you if the loudest complaints are democrats? >> is this multiple choice. >> sean: if those things are happening, what do do you? >> blame bush. >> sean: ding, ding, ding, ding. >> yes, we were talking about this. if god forbid, he were to win a second term, who would he blame? i inherited this mess on the first-term obama. where is he going with this? he has nothing to back up a series of failed policies that have driven this country off the steps. >> 40% of family -- those are real people. 40% of wealth is gone. 25 million americans on or underemployed, 47 million americans getting food stamps. watch this new r

moving north, senator, and for whatever reason, people will regis, and i will get into that with charles payne but i have to ask you of washington doubling up on the spending in the face of what happened in wisconsin. as if it didn't even occur. >>guest: well, they need to understand really what happened and the moral of the message there. the message is you can stand on principle for something that takes some courage to stand for and you can get re-elected. all along they thing you have to be weak need with no spine and you have to give people money whether you have it or not but you can stand up and say, look, the emporor has no clothes we are out of money and we value to conserve money and you can get re-elected. but that message hasn't completely soaked in, here in washington, dc. >>neil: i would have allowed it not smoking in after 48 hours but i don't know about 18 hours and that is what is so year, senator, because if anything came resonating through wisconsin when i was there, a couple of things. people can honk car horns eloquently. but the other thing, by wide margins, wisconsinites

>>neil: but the better part of valor if there is a run up in the face of a rescue, charles payne is selling. >>guest: right now that is how it is working. what they will do is everyone will say, we're in. the fed. the ecbc. germany. e.u. everyone will go in and it will be $1 trillion slash euro and will be happy for six months. or a year. or six minutes. >>neil: thank you. >>guest: it is tough. a lot of people are losing a lot of money in retirement accounts and let me tell you, what is happening today at nike has nothing to do with spain. it is disappointing that the american public is going through this. >>neil: so, everyone is sold off. >>guest: everything is sold off. it is stupid. >>neil: details on a doomsday plan if greece bales out of the euro zone that decision is on sunday, after elections. it could be immediate. as doomsday plan reportedly includes elementing a.t.m. cash withdrawals, imposing border checks, and new restrictions on the movement of capital. is this why the president is getting increasingly worried about europe? ed henry at white house with the latest. >>reporter: t

fox business network's charles payne is standing by with the very latest on this roller coaster ride hi, charles. >> hello. this is still sort of the aftermath from friday where everything sort of kup came about in the wrong way. this was disappointing for anyone who thought at this stage of the post economic period that we were getting traction. every week we had to worry about gross and what was going to happen there and we were worried about a double-dip recession in america. probably more importantly what is going to happen over in europe? the whole place right now on the verge of melting completely apart, and we live and die in large part by news over there minute to minute. also, beyond that our own economy is in bad shape. heather: i did misspeak, the roller coaster is not that speak, i said 33%, point 33 i should say, in the amount of time we've been peeking here down 44 points. where do you see this heading? >> our markets can go significantly lore. the bounce this morning was a knee-jerk bounce to get a feel for the. we have to have resolution. the powers that be the federal

ben stein, charles payne, dagen mcdowell along with adam lashinsky and charlie gasperino, charles payne

i can think of no one better than the gentleman we see on fox business news charles payne.applause] thank you. thank you. congressman west, when you have that panel on amtrak, i'd like to be a part of that too. [laughter] it's a good thing i'm on tv now i would have gotten here an hour earlier. i don't know what report he would have report afterwards. this is a serious topic, i'm honored to be here. some of you guys know me from fox news and business. i started a business out of a one-bedroom i participated as a broker and raising money for a locate of different businesses over the years through the ipo process and reverse take over process. i revisited my neighborhood yesterday in harlem. i have to tell you it's nice to see the old friends. it was scary it seemed like time had stopped and progress -- there is no true progress i can see being made. there certainly is a whole lot of work still to be done. that's why this is so important. -- i'm not going to demote anyone. i just -- you know, the pot calling the kettle -- everyone knows cornel west serves in florida ice 22 te