these folks were less diligent about making payments on time that's all according to data from trans union doesn't sound great economist steve keen is here in studio to talk all things debt deflation and it is the business story that really hit home making the local news circuit in a town near you take a look. snowball cupcakes all of them will vanish. oh oh and twinkies are that list of course that's make or hostess brands made no wonder negotiations are going on it turns out twinkies will likely survive not only the zombie apocalypse but also this latest dispute what does that mean for the cottage industry of sellers hawk in the snack on line we'll discuss let's get to today's capital account. all right as i said half of the nation's forty biggest publicly traded corporate spenders have announced plans to reduce capital expenditures this year or next according to a review by the wall street journal their filings and their conference calls meanwhile we're talking about consumers americans cranked up their use of credit cards in the third quarter which was july to september racking up more

according to the new trans union report, credit card debt jumped 4.9% from last year.ower. the report shows the rate of credit card payments at least 90 days overdue increased 1% over the same time. u.s. expects to deliver 550 million packages between thanksgiving and christmas. 5% increase from last year's total. and the shipping time hiring 55,000 seasonal employees. that is the latest from the fox business network giving you the power to prosper. cheryl: we are getting some breaking news into fox business. u.s. secretar secretary-generalt with israeli prime minister and palestinian president in an attempt to bring cease-fire to gaza. and the u.n. security council meeting that is underway focusing on the issue between israel and hamas. dennis: wal-mart shares up a moment ago. after moving up the date of fourth-quarter dividend payment, you can see that up to half a percent, avoid potential tax rate changes on january 1. rising as much as 39.6%. our next guest says the example of how the fear of the cliff can be worth a market than the cliff itself. john brown joins u

credit reporting agencies trans union stated that the average credit card debt per bar or in the u.s.% in the third quarter from a year earlier. meanwhile, the rate of credit card payments at least 90 days overdue rose to 0.775%, up from 71% in the third quarter of last year. >> trucks are full of turkey and they are waiting to hand >> trucks are full of turkey and they are waiting to hand the mob. they have experience theticket to pressure-relieving comfort of tempur-pedic, and sleep risk-free with sleep train's 100-day money back guarantee. get 36 months interest-free financing: no down, and no interest for 3 years. plus, get free same-day delivery. sleep train's 100-day money back guarantee, interest-free financing, and free delivery? that's the ticket! sleep train's ticket to tempur-pedic ends sunday. ♪ sleep train ♪ your ticket to a better night's sleep ♪ >> the opening bell is sounding an trading is getting under way. we are optimistic about the start and whether it will stay that way is a another story. the s&p is up by 6 1/2%. the dallas just went up to 31 points. we are looki

trans union says the uptick is likely only a seasonal blip. >> yeah, rising above. on wednesday, the president will have a bunch of people standing behind will him again. he'll do the thing again, i've got my pen, the senate has the bill, extend it on everyone except 250. so he's going to insist on that. but they're not going to curb any entitlement spending. so that's where we are. really. they're not rising above, they're sinking. do you think roger altman knows anything? >> because the democrats have pretty entrenched in -- >> totally entrenched. >> although the president is in a position, he's not running for re-election again, kind of look at things -- >> he's in a position of compromise you would think. 2014, if you can get a democratic house, then you can consolidate everything and you can get a democratic house how? by making them -- >> by saying the republicans are -- >> obstructionists, blah, blah, blah. >> and then you play for the last two years. >> playing to just consolidate all your redistribution. >> i get it, but also a tough way to play the game. >

according to trans union a percentage at least two months behind on their payments fell to 5.5%.n nearly 5.9% or from 5.9% from a year ago. that is the latest from the fox business network. giving you the power to prosper. ♪ connell: some more headlines for you right now on market now. gas rationing is over for the state of new jersey. it is over. it continues in new york city and on long island. that is at least for the time being. long island power authority and its partner national grid are facing a class-action lawsuit. thousands of residents are still without power there. to nassau county customers, the first plaintiff's to jjin the lawsuit. they are siding fraud, gross negligence -- couple more than doubled the number two on this list which is tiffany. michael cores, and lulu lemon were in the top five. how about this, more women have drivers license in the united states than men. the women are also safer drivers. males with drivers licenses dropping almost 11% versus 5%. this is from a study at the university of michigan. they also found women more likely to purchase paper

trans union now reporting that average credit card debt for borrowers grew 4.9% in the third quarter and meantime the rate of credit card payments at least 93 days overdue rose slightly to three quarters of a percent. this is still a historically low level suggesting most card holders prioritize card payments over other financial obligations such as a mortgage. and attention twinkie lovers. hostess will be in a new york bankruptcy courtroom today to start the process of selling itself. the maker of wonder bread, twinkies asking the court for permission to sell assets and go out of business. this is d day. so i think we actually have a number of people, joe, if we grt some credit cards together, what do you think, want to go court today? >> somebody will probably buy it in bulk. in our dining room, we have every type of, i don't know -- >> did you go hoarding? >> my wife and daughter, never eaten it before -- >> but the idea that you can't have it anymore, i'm totally with they will. >> they did get duplicates of most of the stuff, so i was able to open some -- >> saving it for 17 yea

this is all in conjunction with the same union and will tran is live at the port of oakland.it just aren't pouring too well? >> absolutely. they are protesting in the rain. i can tell you two questions people want answered at home is one there is a strike going on right now at the oakland international airport but according to the picketer as they are not getting in the way of travelers. you should be able to come and go without any problems. that is not the case here at the port of oakland. and a perfect world they should be open at 6:00 in the morning to allow truck drivers to go through the gates are still closed. this means the truck drivers cannot go and ordered to pick up or drop off. we do not know what that means for holidays applies to bring to the stores. this is supposed to be 24 hours so perhaps there were just be delays. a couple of truck drivers said they just simply want to go home because they do not want to run through and injured anyone even though they said they understand what they are doing. there are fighting for a new contract they haven't had won 16 mo

trans-pacific partnership. japan has been in talks with countries involved in the u.s.-led trade negotiations. about 1,500 people gathered at the rally sponsored by the central union of agricultural cooperatives. >> translator: japan's participation in the trade deal would give a devastating blow to the country's agriculture. it would change everything in the regional economies and communities. >> the protesters adopted a resolution which emphasized their determination to try to stop the government's participation. the issue is expected to be discussed at the annual asean summit that opens in cambodia next week. the group is concerned prime minister yoshihiko noda may take that occasion to express japan's participation in the free trade talks. >>> in south korea, the disparity between large and small enterprises is expected to be a major issue in next month's presidential election. small-sized stores across the nation are protesting the opening of big supermarkets in their neighborhoods. 300 people, including small shop owners, rallied in seoul. they're making demands to supermarkets to close for one day over weekends when customer traffic is high. small retailers

also at the oakland airport they have been striking the union striking started at 930 p a continued at the port this morning kron force will tran joins us with the very latest. >> of 7 is a dance ste this is one of seven incidents. protesters are but circles what that is doing is prevented the truck drivers from going through because they did not want to injure anyone. i talked to a union representative and i said which guys allow these independent contractors to get through to pick up the supplies of the can take it to the store in time for the holidays with black friday. he says we're not telling them to stand in the way we are not telling them to move out of the way either. you read between the lines they are not going anywhere. what is that doing? there are truckdrivers dozens if not hundreds of trucks parked here waiting to get through but they simply cannot because there are in the middle of the road. they do not know what to do. some of them told me that they will probably go home and call it a day. some will probably wait it out to see if the protesters will take a break for them to go inside. >> we did get a chance to

many american trans nationalists and we may see america as to lead the way to sort of adopt the global project as their own project and have america share as the determining the european union. so sharing sovereignty with others and demonstrate leadership. how? by subordinating the supranational legal regime. america's got to lead globally. everything is subordinated. everything is falling the global leadership. but those that promote, americans that promote the global governance say this is in our interest in its consistent with our values because we are the strongest power today but we are not always going to be the strongest power. the other nations are coming up so what we want to do is establish these people talking. we want to establish global rules now so 30 years from now or so when we are not as strong the rules will be in place and the others will have internalized it. they will be following the global rules and they will be practicing it and learn how to practice it and they will be good global stewards and citizens, so at that point when we become week we won't have anything to worry about. we support this general line of argument and she says, and this is a quo

trans atlantic relationship fit for the new era. in recent years, much as dancing about the growing divide between the united states and the european union. that the u.s. is shifting its focus away. we are all in our own way try to work out -- the best deal with growing economic dominance of china.we have witnessed china's unparalleled dissent from developing country into an economic superpower in only three decades. united states says three times as many goods to the european union and then to china. their european union says price as many goods to the u.s. than to china. yet there is much more than we did that unites us than divides us. we share a common history, common values and, while via. with this u.s. administration, we shared the commitment to an efficient multilateralism. we are tied together. recent economic troubles, the spread of the financial crisis emory's about currency, stability had been a reminder to our economies that our economies are deeply integrated. the stakes are high. the u.s. and the eu generate almost $5 trillion every year. together we make up half of global trade and half of global gdp. we are each other's

unionized. this is capital we should be fighting for. i think we need to approach trade in the second obama term with that same degree of confidence going to the point that tran one may be a nothing the world is ready to engage with us. angela merkel proposed attended by free trade agreement in her speech this year. i think we should pick up on that and go for. there's a trans-pacific partnership in negotiated out in asia. chinese are now part of negotiation but they follow it very, very closely. let's just proceed with confidence because i think people want us to succeed. >> i want to get out of the way but you mentioned china, thank goodness. couldn't have a discussion without china. jon and i were in china earlier. everywhere we went jonathan doggedly woodpaneled the chinese with this thing, what are you going to do if mitt romney wins, day one calls china a currency many other and designates them that. the chinese didn't believe mitt romney would you do. now they don't have that test. what's interesting are the obama campaign, i was on bill burns even a list. bill woods in these notes out saying barack obama is a bigger china basher than mitt romney. mitt