version as he calls it. >> his critique of unbridled capitalism is very strong, absolutely, and he is very serious about it, because of his experience. he lived his whole life in a latin america that was on the receiving end of some very destructive economy policies. i think what pope francis is trying to do is trying to amplify voices that have been calling for a different system for decades. >> reporter: a different economic system? is what the pope argues for really what the world's poor need? >> well, i would say that the pope is probably not a well- trained economist. >> reporter: new york university professor richard sylla. >> economic historians like myself study these things and we're pretty big fans of capitalism! >> reporter: the pope's argument is not that historically capitalism has not done a good job. it's that now capitalism is a new form of colonialism. it's suppressing the poor and keeping them down. >> i have to disagree with that because in this age of globalization. my view is that capitalism is actually working to make the lives better for the poorer people of the

what he said is unbridled capitalism is the deng of the devil. lou: unbridled.. i heard him say communism is a system that should be overthrown, that it has been a disaster, that it has sapped the blood of working men and women wherever it has been practiced, and especially in cuba where there is oppression for a half century. >> he wrote a book about cuba. lou: i understand, i get to read in this job as well. >> it wasn't very long ago, which he criticized the current system. lou: he had an opportunity to embrace the dissidence in cuba to actually hold accountable the brothers castro for their deeds and for what they have done to those wonderful people for a half century. >> i get it, i get it. lou: what i don't get, father, this is again perhaps my interpretation. >> probably not. lou: when he calls for the pontiff a new global political authority to deal with climate change with, whom is he aligning? is he aligning with democrats, republicans, moderates? whom with whom is he aligning? >> start with the cuba thing which i think is important. lou: i was hoping

who wants unbridled capitalism? how do we have capitalism that works in the united states? sure it's under the rule of law. and i think we'd all be in favor of that. think of volkswagen, for example, right now. not following the rule of law. it's not a healthy thing. >> yeah., father, jonathan i know you've been -- been a very long day for you, we appreciate your insight into all of this and i want to remind our viewers we are going to stay on these live pictures as pope francis makes his way to the mass of the candidatization going to be held at the national shrine, this mass is going to be attended by 25,000, gerri willis, incredible. 18,000 people right now lining the streets. >> you know, what was incredible was your ability to stay silent during that debate between stuart and father morris. i would have jumped in there in a heartbeat. you were extraordinarily diplomatic and, by the way, you know, stuart as tough as he was within father morris held his own. and the market managing to hold its own today as we continue to monitor pope francis, we are going to be giving yo

fight thatllure of materialism stifles authentic spiritual and cultural values and the spirit of unbridled competition, which generates selfishness and strife. he said to the young people there, that they needed to combat the materialism that stifles authentic spiritual and cultural values and the spirit of unbridled competition, which generates selfishness and strife. still, in writings like in the speeches and homily, pope francis has pretty harsh words for free market capitalism. he calls the economy an economy of exclusion and inequality, an economy that kills. he criticizes trickle-down theories of economics and the economic changes he calls for seem more revolutionary than reformatory. these are strong words for a system that seems both necessary and beneficial. you just heard some interesting data about the effect that free market capitalism has had. i recently read in arthur brooks' new book, the conservative heart, the expansion of free market capitalism is responsible for a great reduction in world poverty. the number he says living in starvation level of poverty, which he define

brokaw thank you for sharing what i would have to call unbridled optimism with us and i know knows you've got billions of people out there pulling for you and your full recovery. my question is quite simple. what is going to be at the top of your to-do list when you are fully recovered? >> guest: i want to write more. i have a lot of fantasies about learning to play chess at my age. that's not going to happen i don't think they. >> host: you don't play chess? >> guest: i don't play chess. i'm a little too impatient myself. i admire people who do because they have a -- mind. writing more in reducing the kind of interest i have two just a few. that is the big thing. and no more to request and yes more. >> host: a piece by jim webb which criticizes you for not recognizing the courage and sacrifices of the boomers while speaking often about the greatest generation. put. >> guest: gemini. i went to vietnam with him and we have had this discussion before. he has a legitimate about the former generation are brought about how he did answer the call. how he represents a part of our society. i thin

deeply held beliefs, and so should our leaders who can point to the recent and on going failure of unbridled economic leftism that's putting us on a fast track to moral and fiscal breakups. to certain outcomes all of famer, oh, my goodness he's going to join me, discuss the failure, plus the fbi has said they have recovered personal e-mails from hillary clinton's private server. and the state department story doesn't exactly square with her. and yogay beara has left a trail of memorable quotes. let's take the trail together. i'm kennedy. and praised president obama on his climate change initiative. >> addressing the urgency, it seems clear to me also that climate change is a problem, we can no longer be left to our future generation. >> he's doing his best, addressing congress tomorrow and will we hear more of the same? address him in his native spanish? all right. and joining the panel tonight, former ms. america, and she's smart and joining her hot as a pistol, dagon from fox business network. >> no. crowns or sashes. >> not yet. >> surprise surprise. >> well, you know who does have a crow

needed to combat the a lure of materialism that stifles authentic spiritual .alues the spirit of unbridledompetition generates selfishness and strife. still, in writings like francis is in his homilies. and economy economy of exclusion and inequality. an economy that kills. he criticizes trickle-down theories of economics. his calls seymour revolutionary than reformatory there -- his calls seem a more revolutionary than reformatory. free market capitalism has had -- i recently read in arthur that the new book expansion of free market capitalism is responsible for a grave reduction in world poverty. the number of people living at starvation level poverty which declined.s he says the institutions that deserve credit for this decline are globalization and free trade and free write and rule of law and entrepreneurship. brooks, the pope seems to be a crypto socialist. with little understanding of the benefits of growing the economy. who is right? it is not quite that simple. in the first place, the pope leaves that work is important, even holy. he says that it is a noble vocation. and for this

. >> i know, but what the pope will scold is unbridled capitalism that says it's all about you. really less capitalism, a little bit more socialist. it says if somebody has two coats and you meet somebody who has no coat, you have it give them one of your coats. that's not really according to our ethos and our perspective. you say well you have to work for your own coat but you don't ask why don't you have a coat? you first meet the need. the pope is going to say how do you meet this need? that's what he's calling on parishes to do with the refugees. he's going to challenge i think the unbridled capitalism in the united states. >> that, too, will not make many people happy in the united states. it will be an interesting visit, right? >> i think it will. >> father beck, thank you so much. >> thank you. >>> still to come in the "newsroom," a small town mourns an enormous loss as thousands gather for a memorial service for a slain police officer. we'll take you there next. thankshow may i help you?s list. i heard i could call angie's list if i needed work done around my house at a

and you see the crowds in the background waving, almost unbridled enthusiasm, stephanie. >> previous papal visits have always drawn large crowds. and i remember these rock star receptions for john paul ii, but i want to ask you this, he -- this pope been compared to bernie sanders in some ways, because he is sort of seen as an outsider. >> studies and scholars within the church and without the church have identified it as a problem that the church is having. the church is skewing older. there are very few younger generation people coming into the church. church attendance is declining. church finances are declining. so what you have here is a pope who is trying to get back to the church's roots if you will of compassion and deemphasizing the social strictures, the moral underpinnings that have been stressed by popes before him. and stephanie we cannot talk about those problems that the church is having, without bringing up the sexual abuse scandal and the cover up as well. that had so many people angry and outraged. the church has a lot of ground to make up. there's no question about

he's also repeatedly criticized what he perceived unbridled pursuit of money. -- much of what francis says can maybe often, these are storylines that we bring to the material rather than genuine changes in church teaching, as francis said. teaching about contraception and abortion as, i am a son of the church. let's see what he has to say about poverty and then a little bit about the authoritativeness of church teachings. care for the poor has been a major theme of the pope's teaching. he chose st. francis because poverty.the man of he was from latin america, where the cases of extreme poverty are much higher than those we see in the united states. his idea that we who have more have a responsibility to those of less sometimes called the preferential option for the poor is not an original idea for him. quotes st. john, the homily on lazarus and the rich man. here's what st. john of christendom said, not to share one's wealth with the poor is to steal with them and take away from the poor. it is not our own goods we hold, but there's. we have a couple responsibilities to rise from a co

he's also repeatedly criticized unbridled ceived pursuit of money. our panel will help us understand -- truly believe that the world is becoming worse and capitalism is to blame or whether his views can be misinterpreted. before introducing the panel, of you mayat -- some be familiar with human progress which at the cato institute website where we try to ascertain the state of humanity by using or looking at different statistics. so let's consider four issues which are of importance to the pope. wealth, health, poverty, and inequality. this graph shows you the evolution of income per capita around the worrell since the birth of jesus until 2010. as you can see between year one and about 1800s incomes per stagnant. roughly doubling for about $3 per capita per day to about $5 per capita per day by 1800. then in 1800 to 2010, income per capita rise tenfold to about $50 per day. in part of the industrial revolution and trade. now, together with the increasing incomes has come about the fold in absolute poverty. in 198050% of humanity lived in absolute po

said this is an important point to remember about our holy father that is not simply critical of unbridled but he wants to support business and a path to god for businessmen. >> rabbi, was that your take as well? >> in today's speech, yes. never to glorify poverty, on the contrary responsibilities to lift everybody out of poverty so raven has needs to support families dignity. jesus, his ministry directed towards the poor. he was to ensure people had the economic sustenance by which to live with dignity. i respect my catholic brothers and sisters tremendously. i am not a catholic. i am jewish. i'm surprised because the pope has not said a single word about the mass slaughter of christians throughout the middle east. i understand global warming is debated in this country and i understand position on it. the near genocide of christians throughout the middle east is a much more urgent problems. he's the most important, but also the world's most famous creation and christians are killed all over the middle east. the fact not part of the message to a country deeply embedded in the war in middle

francis has said before that unbridled capitalism is dangerous. he has talked about income inequality and all of that is music to our mayor's ears. >> the single most important voice on the earth on questions of fighting inequality and creating a more just society has been pope francis. there's no question. >> reporter: at the basilica, the national shrine in dc, they are prepping for tomorrow's huge outdoor mass. there is a buzz of excitement and energy and hope in this powerful, yet humble leader. >> no i've never seen anything like it just about with any visitor, both catholics and non- catholics are so excited because he's a ground breaker, he's a different kind of pope. he is the people's pope. >> reporter: and the pope will be here in washington for the morning he'll be at the white house with the president. and the reception for about 10,000 invited guests, tomorrow afternoon he'll be at the national shrine at catholic university. the basilica there. and they will be can onizing a new american saint and then the big event on thursday mornin

the bank is an unbridled market-driven success story which has broad bipartisan support in both houses of this congress as well as support from the majority of americans. the bank supports hundreds of thousands of good-paying jobs in this country. if we fail to act now, we are shutting off a lifetime for many of our small businesses and exporters. in my congressional district alone, the bank has supported thousands of small businesses and manufacturing jobs. these are good jobs in a very high-need area in texas that would not have been possible without the bank. these jobs are now in danger. mr. speaker, i urge my g.o.p. colleagues to let common sense regain a foot hold in this house. we have the votes. let congress work its will and allow a vote on the re-authorization of the export-import bank. i yield back. the speaker pro tempore: the gentleman from texas yields back his time, and the gentleman from florida reserves. the gentlelady from north carolina. ms. foxx: thank you, mr. speaker. i reserve. the speaker pro tempore: reserve. the gentleman from florida. mr. hastings: thank you

liz: he didn't get into the excess of unbridled capitalist. just invent stuff. liz: he didn't use the fiery language. neil: i do like how he told charlie gasparino. are you moving forward fast enough? everywhere you look, it strategy is now business strategy. and a partnership with hp can help you accelerate down a path created by people, technology and ideas. to move your company from what it is now... to what it needs to become. . . . . neil: all right. selling escalating on wall street. the dow down about 229 points right now. caterpillar big contributor at get-go. it will get rid of 5,000 workers and maybe more. talking about global weakness. markets want to hear as things are slowing down as they appear to be what does that say where we go and economically dependent companies are going to go? caterpillar stock was north of 6%. it had been down 11%. a hit is a hit is a hit and that is disproportionate hit on the dow, under intense selling pressure even though we did hear good economic news, including home sales, 6% up tick, highest we've s

or unbridled capitalism. and that was pretty raw to say. and for americans growing up believing the whole superpower is based on entrepreneurship and the freedom to be able to make money and basic freedoms in general. that put a lot of miles per hour's noses out of joint. >> this pope has actualy never been to the united states. he's 78 years old. he's really spent his entire career in latin america, obviously. also now in italy and europe. but it's telling i think that he has not been here. that he's chosen not to come. >> yeah and i think that that plays into what christiane just said which is we consider his background also when we consider his economic critiques. he's definitely coming from latin america and he does have have this catholic social teaminteam teachings in mind when he talked about economics. but that is his vantage point, and so, you know, it is important to say that he does that in connection with all the other issues. he thinks that the integral ecology that the environment is connected to capitalism and to the exploita

but how do you preach against unbridled capitalism, how do you say you're on the side of the poor, the the fridge, and then ride around in a luxury vehicle? so, no, he's again walking the talk. it's a very important symbolic gesture for him and he's made sure that he has stuck to it even in his mode of transportation. >> i think we're just watching the pope so closely. i'm being told perhaps he's close to jumping in that pope-mobile. so i actually have to leave it here. peter and father edward beck, thank you very much. moments from now the pope expect canonize an 18th century priest, the first on american soil, not coming without controversy. my next guest is among the group fighting this. we'll discuss why. t step to rear retirement goals is to visualize them. then, let the principal help you get there. join us as we celebrate eddie's retirement, and start planning your own. so you don't have to stop., tylenol® 8hr arthritis pain has two layers of pain relief. the first is fast. the second lasts all day. we give you your day back. what you do with it is up to you. tylenol®. hello. if

it was very unbridled. and how certain individuals fought over -- well, a disagreement over which mcguire saw it differently over establishing labor, but it is certainly appropriate that we celebrate labor day and workers unions in the united states what two-year and perhaps more often. it is not just barbecues and beer. look, if there weren't employers, there wouldn't be employees. so we are all in this together. i'm not saying there should be an employer day, but i think it is fair to recognize that employers have a role and and part of the -- in part of the emphasis i like to make every time we do this press conference is people should focus on what employers are doing. which i a fact sheet, see many of you have, in terms of the kind of salaries and benefits employees provide. employees spend $9.3 trillion on total compensation, including $1.8 trillion on unemployed benefits in 2014. 2013, 169 million americans received their health insurance through employer-based coverage. they spent 6.3 9 billion doll

i don't see unbridled optimism. >> what have you sold? we always ask, would you buy?have you sold lately? >> yeah, i think some of the staples out there right now. i think some of the stocks are overvalued. they have poor growth prospects. i think a lot of the utilities still look expensive. we've been selling some things that -- and this is a little bit too late for some of these when we sold them a couple of months back. we threw them and in and said, the world has changed, the facts have changed, we need to change our opinion. so there's things like that. a lot of things we've been sellisell ing tend to be more steady in nature. >> admitting not every stock is worth your clients' money. we appreciate it, patrick, have a great day. >>> all right. right now, the nasdaq 100 etf ticker qqq probably in your portfolio up by more than 1%, almost 2%, in fact, but down more than 8% over the past month. is now the time to jump in on big cap tech stocks. we'll get recommendations when "power lunch" continues. stay tuned. ve attorneys you can talk to through legalzoom. don't l

to combat the materialism that stifles authentic spiritual and cultural values and the spirit of unbridled competition, which generates selfishness and strife. still, in writings like in the speeches and homily, pope francis has pretty harsh words for free market capitalism. he calls the economy an economy of exclusion and inequality, an economy that kills. he criticizes trickle-down theories of economics and the economic changes he calls for seem more revolutionary than reformatory. these are strong words for a system that seems both necessary and beneficial. you just heard some interesting data about the effect that free market capitalism has had. i recently read in arthur brooks' new book, the conservative heart, the expansion of free market capitalism is responsible for a great reduction in world poverty. the number he says living in starvation level of poverty, which he defines, declined by 80% between 1970 and 2010. and he says the institutions that deserve credit for this decline are globalization and free trade and property rights and the rule of law and entrepreneurship. so what's

. >> he makes that connection all the time between the excesses of unbridle capitalism and the destructionf the planet. >> yes, the people and the planet, yes. >> exactly. >> let's go back to walter perez on site. walter. >> reporter: jim, he is just turning onto the mall right now. the motorcade has made its way to this part of the property and now the crowd is really coming alive as i mentioned before it was absolute silence. people practically holding their breath as he arrived and there he is turning the corner right in front of independence hall. it's inning when you talk to people working security here they say they are really on edge and you can see in the shadows all over the place security is everywhere and you know why it has to be so heavy because he wants to be out there with the people. you saw moments ago he made the popemobile stop at least once to kiss a toddler and then to kiss a newborn baby. it was a beautiful sight. now he's past that point. he's about 40, 50 yards away from where we're standing right now greeting the people, getting a present there, kissing a baby i sh

because even communist nations are accepting capitalism, there's a little bit more of a focus on how unbridledomes that don't have morals in them can do harm if you don't -- stuart: father i'm going to break away for a moment. holiness is about to break through doors, he's going to make his way to the balcony. >> the speakers balcony. >> yeah, the capital's west front, the crowd is assembling on the lawn in the tens of thousands. stuart: blake berman, you're in that crowd, i hope you can hear me. tell me this. what was the crowd that you are now in able to hear what the holy father said insid inside the congressional chamber? >> yeah. stuart, they were able to hear it loud and clear, they've got several monitors here and the audio was playing as well. the crowd was incredibly silent throughout, listening to every single word, every paragraph that the pope had to say and at times there were applause. certain parts of his message that they agreed with or liked and a lot of times those applause mirrored that of congress as well. keep in mind here, stuart, all these people right now have their eye

to now address it in a frontal manner, i believe it was the pope who talked about the fact that unbridledsuit of wealth at any cost he compared it to quote from a fourth century bishop, it is the dung of the devil. we need to be reminded of that especially in the city of new york sometimes a pursuit from material prosperity in our intoxication with materialism ought to be put on pause. especially when it's done to the neglect of poor people. >> one of the things that we've been talking, and we've repeated this throughout our coverage, pope francis, he was born and raised in the argentinian capital of buenos aires. teresa, i know that the pope's visit has been getting worldwide reaction. what has it been like in his hometown as they see him in these events talking primarily in spanish. what has been the reaction? >> well, people here are thrilled that the pope is currently in the united states. he's on television. it's on every newspaper in the country, the argentinian press and the argentinian people have been following the pope from cuba to the united states. they're thrilled because it'

no apologies for it and that's something that would excite voters on the left as much as a pure unbridlervative would excite voters on the right. >> i do think that poling number that's the most important is when you have more people thinking you're dishonest than honest, i don't care what party you are, what political environment you are, that is a huge issue and that's why these e-mail stories day in and day out that keep cutting at that issue as long as people don't trust her, she's extremely vulnerable. >> i've got, i'm not just saying my best friends are democrat, i've always been surrounded by democratic friends. most of my friends are going to vote for hillary clinton. when the camera is not on and they're sitting down, they're saying the same thing to me they're saying to you. they are discouraged that hillary can't get in front of this and discouraged that she didn't take your advice earlier and discouraged she's still parsing language a couple of days ago when she was confronted i forget exactly by whom. there's a couple of other things that's going to be disproved by the peopl

that was a period of unbridled prosperity in the united states.associate economy -- people associate commodity deflation, if you are a commodity exporter -- you do not go to walmart and buy a pound of copper. the raw material does is go into the production process. tom: it is the idea of bringing economies and securities analysis into economics. do you agree that with a commodity implosion and the reset that all we need to see is commodity balance sheets clear, like glencore, and once it is clear, we move on? am i right? david: you are right. ,e are talking about glencore and it almost looks like what happened with worldcom and enron . then we had the washout. that happened in 2002. if you looked at that and said this washout -- vonnie: you mean from a financial market's point of view. be caught could just in fear saying we are going to have another leg down. wash that out, and then have another four or five years of expansion. a worldcom and enron, we had double dip that was temporary, then we washed out and moved on. is this idea, it of reset, w

that's a strong message when you come to the home really of unbridled capitalism in america. can expect similar strong words when he's speaking to a group as well. >> he's speaking to the church as well. he actually owns the criticism that the catholic church itself, while it does a lot, should do much more for those in need, both in terms of intentional intentionalalty, focus on the mercy, the love, not only with the rules and politics but with what they do every day. >> he's also speaking to his own priests, funs, bishops and telling them to have the courage to continue to do work and continue along the lines that he is setting in humility, in being close to the poor. he said yesterday, you know, it's good to rest but rest with the poor. rest with the people. that's a different kind orest than sitting at home watching the television. that's his message to them. it's also his message, of course, to the rest of the world. today is his pulpit for the environment. it's his favorite topic. what he says there is, integral ecology. integral ecology means we are not separate from t

extreme elements and unbridle can be dangerous.n america. >> you can look at churches across the country and they're changing the services to contemporary or having a second service that's contemporary to get young people to want to come and be apofart of it. >> those are approaches and i think that they're not teaching those and saying that you can get divorce and remarried and have sex and do this and that just in order to attract people. that's stupid. i don't go to church to get affirmed but to be invited and encouraged to change. i think that pope francis is doing it, but in a way that's reaching out to people again and those that are not connected. we're doing a lot of coverage on this and for those that are reporting and let other people decide if they like his approach or not. you can be a good christian and catholic and not like the pope. it's okay. you can learn -- i think that we can learn, but at the same time the pope has different approaches. >> coming to america i cannot think of a better guide to walk it through tha