jonathan hoenig says it is making him sick. he is back. jonathan, what a day, there is a domino for the whole country, period >> your day just got a lot worse when you see the big inflatable rat outside of lax and hundreds of angry union protesters. and i hav you have a right to ak passengers and those who want to go to work. i'm not surprised they don't want to work with the union. the airlines, mentalities, automobile, twinkies, what they'll have in common? all ruined by the union. tom: the union said we are not going to have a strike, all we we're going to do is have 1200 people marching down century boulevard to sepulveda and those who don't know l.a., the main entrance to the lax airport, 1200 people will create a nightmare out there. >> the only power unions really have in terms of negotiation is their ability to conjure up visibility. the fact we're talking about this right now means it is working already. the question has to balance is if we pick off consumers while also getting the attention they want in this case the airlines, you

that is jonathan hoenig.ng up next. >>> plus the newest move to stop hundreds of millions of dollars of gold coming into iran every month. we'll tell you how. "piles of money" in that trashcan, i'm going to get it but no gold coming up. ♪ . >> there's a stalemate. let's not kid ourselves. melissa: i feel good about that. that was house speaker john boehner today putting to rest the idea that a fiscal cliff deal is on its way. some angry lawmakers are now saying the last three weeks have been a complete waste and that president obama's new detailed proposal is a total non-starter. hedge fund manager jonathan hoenig agrees. he joins us to tell us why he thinks the president's plan rests entirely punishing the minority, that is the rich. thanks for having you back on the show. >> hello, melissa. melissa: this is depressing topic you will make it light and happy for us somehow. >> there is nothing happy about wealth destruction that is exactly what president is doing. you raised a very important point. why is it

let's ask jonathan hoenig. fox news contributor. jonathan, have to ask you to react to the news breaking right now about movies. but the deteriorating economic prospects. it is that some to you? >> it was the euro, plunging on the news. not to be too surprised. we've seen it blow up in greece and ramifications of the big spending high regulation high taxes even some more well-established countries like france. it is nice to see some green on our screen at home but a downgrade from france could ratchet back up by tomorrow morning as well. melissa: do you think we have had losses through much of this election as people realize if you make money in the stock market it to be taken away anytime soon? what do you think motivated today's games? speaker you are right, we've had some of the worst postelection selloffs ever. market dropped 5% in just seven days, we are seeing some bounce back in hopes of the resolution. there are claims of dollars on the sidelines that is not being invested in not productive because of economic purposes but sp

jonathan hoenig is portfolio manager at capitalist pig.com. he said there is a lot more ready to come unless we get the fiscal house in order unless we do that fast >> catching up on your book. congratulations terrific new book. enjoying quite a book. melissa: you are a genius. you are a fantastic. my favorite guest of all time. what is that book you're reading there? i don't know if i saw the cover. oh. >> outstandin you will learn a lot. unfortunately not what the market wants to know which is about the fiscal cliff and future of our economy. melissa: yeah. >> i'm enjoying your new memoir. melissa: fantastic. i love you for that. i already, sent the check ahead. >> no, no. melissa: i was going to say i hope you got it but obviously you did. the market, here's the problem. i don't see any reason to buy stocks right now. i mean it seems like you want to sell beforehe end of the year because you want to get any gains that you possibly can at a lower tax rate. you certainly don't want to buy anything you're not willing to hold for the next four

joining us now, jonathan hoenig of portfolio manager for the capitalist pig hedge fund and a regular in. jonathan. >> great to be with you. >> jamie: we're not of that age yet, many people are and next year may not be the year for them. how come? >> yeah, nearly 7 million folks on the verge of retirement and unfortunately, jamie they've been screwed, screwed by government policy and policies in fact continue to this day. for one thing of course the safety net they've been promised not going to be there or there in a much reduced fashion, but the taxes are most destructive. folks who saved their whole life paid taxes and trying to live off the proceeds of investments, the taxes go up to 44%? that's literally food out of retiree's mouth. >> it's startling to stunning invested put away whether conservatively or taking risk and now the same profits, they may be taxed at a rate may not be paying what they may have paid when earning salary. will be treated as ordinary income? >> indeed. and as you've pointed out. how is someone either currently retired or on the verge of retirement and i'v

and here to warn us playing chicken on capitol hill, founder of capitalist pig, jonathan hoenig. >> goodand and scare the other side to get your way. >> fright is not, americans are frightened and they don't know what's coming forward, whether you're joe six-pack with 10,000 in brokerage account or more importantly a multi-million dollar or billion dollar company who maybe wants to invest in a plant or jobs, how can you plan 30 years out when our own government can't legally plan 37 days out? that's a tremendous amount of uncertainty and what is known as a capital strike. capital just literally goes on strike and it's not productive. so, yes, i think that the government in this case is holding not only the american consumer hostage, but the economy as well. production can't continue as long as this uncertainty. >> alisyn: jonathan, they don't think that they are he' holding the american people hostage, they think they're standing on principle so when both sides think they are he' standing on principle, how are they ever going to meet in the middle by december 31st? >> well, and the presi