wane rogers, jonathan hoenig, bob beckel and star parker. welcome, everybody.st, the big cities and now the suburb. poverty papeful reality for one in five americans and that includes moms, dads and kids. in 1964, president johnson declared a national war on poverty. over the decade since, taxpayers funded a massive redistribution of wealth. in the year since that declared war, welfare spending is up 11,000%. spendi on food stamps ballooned. 32,000%. with trillions of tax dollars diverted to combat and post officeerty, one would think the post officeerty levels would fall. the opposite is handing. the american poverty exploded to 15.9%. the highest in nearly half a century. there is more. the dream of a suburban house with a white picket fence given way to fastest sector of the poverty. the sad but true reality the new face of poverty is next door. as spending on poverty goes up, the more it is spreading. jonathan, break it down. why are we spending so much more and post ficeerty continues to rise? >> the poverty level was dropping and fell by half in '60s when

melissa: jonathan hoenig, thanks so much. >> thank you. melissa: of course oil also at the forefront of everyone's mind right now. oil production here at home, it is almost a 24-year high. yet prices are skyrocketing, hitting their highest level in more than two years, today, as a result of what is going on in syria. are we insulated after all that fracking? i want to bring in a oil analyst from stansbury and associates research firm. let me get your bet. how high do you think oil goes as a result of what's going on? >> hi, melissa, no, i think we're pretty close to the top. i don't see this, i don't see this sending oil prices to $140 a barrel. i think it is going to come down before it goes up. melissa: come down from here? because, you know, there are folks i was talking to today, making a lot of phone calls saying they think oil could go to 115, 117 if we see more than a one-day conflict. if it isn't in and out that's where we would go. what do you think? >> i think that would be as high as i could see it going right now. i mean we saw

let's get started with jonathan hoenig and martin and portfolio mallet -- manager. we need to shorten your title. [laughter] people at home come to me we see you on tv but i am not in the market. are you kidding me? he has under armor shirt, nike, you are in the market and you are feeling it but then you buy a paris sneakers at $200 that will be obsolete and don't thank you should be the owner of the company? you are the spokesperson and the consumer. i was thrust into the market because of financial situations. i was the oldest kid that needed to make money so i got into the stock market to make many so what happened initially? >> i needed a job. [laughter] 1979. just getting out of college and a whole generation of investors were wiped out by the bear market. charles: you were too broke to be afraid? >> i figured cycles come and go and the bear market started in 1965 did not end until 1982 so i got in at a good time. the guys in my office in washington d.c. were some of the few people that survived the bear markets of the '70s i could learn from them how they coul

the crew this week, wayne rogers, jonathan hoenig, katie and juan williams.tralian chris lane was in oklahoma to have fun playing baseball at college. they gunned him down for fun. given the number of violent crime on the rise in the u.s., wayne, this is a credible, real threat to the economy. >> oh, yes, eric. for example, the ten most dangerous cities, poverty on the rise, unemployment on the rise. crime on the rise. when you have crime on the rise, you to do something in account of that. police tactic and things that the police have to do to bring the order back to it, has to increase. not at the sacrifice of the personal rights but it has to increase in some ways. juan on the show today said the other day, the civil rights people of this country, al sharpton and these people have to go to neighborhood and lead the neighborhood. say positive. not be negative all the time. juan, you did a great job on that. i saw that, terrific idea. that is what has to take place. >> eric: juan, go ahead. respond to wayne. we note that detroit, 41% poverty rate. oakland 21

wayne rogers, jonathan hoenig and juan williams and katie. re fast food workers hitting the streets demanding a hundred percent pay hike. they want wages pushed up to $15 an hour. jonathan, let's talk about this. give us a lesson in capitalism. free market, wages or the government does? >> all these unions are going to do is increase the number of low skilled jobs people. wages are not arbitrary. they are not based on passion or feeling, they are based on productive value. you can't hire someone at $15 if they produce $7 an hour of worth. if they do they will go bankrupt and last union's work like gm. if you can't produce $15 worth of work an hour, you can't work at all. >> eric: why do they stop at $15 why didn't they go 40 or 45 while they are at it? >> what does living wage mean? i wanted to focus on low skilled jobs is way for people to get into the work force. they are meant to be career. they are way you get into that. i'm wondering this idea of wanting to move up in a company has gone. why aren't people starting at this minimum wage, lo

the crew this week, wayne rogers, jonathan hoenig, michelle field, ebony k. williams., everybody. as we celebrate labor day this weekend let's open up a debate about the current state of labor in america. >> work is quickly replaced with hand-out and freebies. the recent report found in 35 states, welfare pays more than the minimum wage. that alone is driving the would-be workers to the open arm of our government. happy we feel recipient is a happy voter. what is the fall-out? welfare abusers, the takers are exploding. while the labor force, the makers are imploding. more and more supported by the fewer and fewer. one in seven americans are on food stamps. are they all in need? >> i feel like a poor person. taking advantage of what is out there. free food. it's awesome. >> 14 million on disability but are they all legit? this woman wasn't. claimants like her choose her own doctor. it's fleecing the programs. costing taxpayers billions. the robin hood government didn't done there. it hands out assistance for housing and transportation. you can get an obama phone if you

the cashing in crew wayne rogers, jonathan hoenig, mielle field and emily tisch. ome, everybody. you heard him say he wants a robin hood tax on investment transactions. jonathan, there is no spending problem, it's all about taxing. >> yeah. we need to -- this is like willie sutton theory of government. go where the money is. money is in trade. trade is wealth creation. i helps civil people interact through trade, not through force, which is what the representative ellison is advocating for. all trade is productive. high frequency trader or ma and pa ket with the etrade account. he is calling for a tax on trade,hich is a tax on production. it widens spreads and it makes it expensive to buy and sell stocks tborrow money and start a business. soy, one-tenth of 1% is a big amount of money especially with the fed manipulating interest rate to 0%. >> michelle, why is it alys let's raise your taxes and take more money from you? >> it's crazy. the wealth of the nation does not belong to government. we're $16 trillion in debt. the sending is out of control. the idea that we

those are amazing gain, jonathan hoenig is joining me now. jonathan, they lost people a lot of money. >> they did. they confused a bull market with a bubble. they are their different things we're in middle of, what is a healthy bull market. not just technology stocks but stocks in general, this is a long time coming, with a decade of flat markets for s&p and dow, a couple days ago market of at new all-time highs. we're not in a bubble. charles: i get so frustrated, audience knows, regular people are not making money. you read a headline, rich get richer, and everyone gets upset. why you are upset? you can get rich the way they are, you are on the mall making them rich. people continue to miss it, a large part i blame media always talking about next correction, next explosion, and leg down. >> charles, it is the fear that worry about next correct that fuels bull market. as you know you lived through bubbles before. i have, think back to 1999, "newsweek" magazine, everyone is getting rich but me, publishes booking caughted the hundred best inter

we also have james freeman of "the wall street journal" we have jonathan hoenig, hedge fund manager and fox news contributor. steve, let me ask you, who does this help? >> it helps nobody except the agitators, activist, shareholder activists who want to control executive pay. and the idea that you can get a good ceo at a pittance of what you get now is preposterous. they feel these comparisons will shame, give them more power over controlling the executive suite. melissa: yeah. >> it's a power play and at the end of the day i would love to have these people find real talent at a bargain price. it just ain't out there. melissa: this came up again and again and again in ref ton to the fight that has been going on this week as you see workers ad mcdonald es and wendy's and taco bell walk out. they say the average worker, not even average, minimum wage worker, entry level worker at mcdonald's and these other places are making $7.25 an hour. he same time the ceo of mcdonald's, donald thompson, in 2012, his total compensation was 13.57 million. many tweeted this back to me on the day we were

wayne rogers, jonathan hoenig and emily tish. hold on to your wallet. rd keith ellison say, we don't have a spending program. he wants a robin hood tax on investment transactions. jonathan, apparently there is no spending program, it's all about taxes. >> really sudden theory of government. go where the money is. trade is creation. how simple people interact which trade not through force. all trade is productive, whether high frequency traders or mom and pop with an e-trade account. it makes it more more expensive to start a business and buy stocks, one-tenth of 1 percent is big amount of money especially with fed manipulating rates to zero. >> eric:, why do they want to take more money from you? >> the wealth of nation does not belong to the government. we are 16 tripled in debt. our spending is out of control. does it mean we need to con physical indicates more american's money is crazy. if we did this robin hood tax, the money is not going to go to bring down the national debt. it's going to prop up more sposhl programs that got us in this mess in the