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tv   The Willis Report  FOX Business  October 8, 2012 6:00pm-7:00pm EDT

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>> she has been testing the suit for years now. it is proven technology. >> guarantee anything. melissa: would you do it? >> absolutely. i have been wanting to skydive. again, my wife would probably kill me. melissa: thanks, guys. that's all the "money" we have for you tonight. we'll see you tomorrow. "the willis report" is up next. ♪ gerri: tonight, $5 gas is happening in one state. could it happen in yours? is government regulation to blame? for mitt romney calling the president pass it when it comes to foreign policy. a complete analysis. welcome to "the willis report." hello, everybody. i'm gerri willis. the united states and china on the verge of a new high-stakes,
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high-tech war that some say we are already losing. an explicit congressional report a year in the making out today blasting to of china's biggest telecom companies saying they cannot be tested and should not be doing business in this country. the two companies are accused of a host of illegal activities that include everything from bribery and corruption to emigration fraud. what does it mean to make joining me now, k. t. mcfarland and former dick be secretary of defense and china expert gordon chang, author of the coming collapse of china. i cannot imagine a better panel. i am going to start with you. reading you some of the results from this report. chinese actors are also the world's most active and persistent perpetrators of economic espionage. u.s. private sector firms and cyber security specialists reported ongoing onslaught of sophisticated computer network intrusions that originated in china.
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what is the real risk here? is it all economic damage that we are worried about? is there more? >> there is a lot. think of trojan horses. for more than a decade beijing has been conducting the world's most extensive cyber espionage and attacking campaign. the white house, pentagon, defense contractors, greta operators, democracy groups. china wants to sell the telecom backbone because if they do that it makes the attacking easier. gerri: that makes sense. i get that. i want you to hear something mike rogers had to say about this report. >> i argued this. listen, this is something we should raise to a bilateral level with china. they have gone unfettered in this activity for years. all american companies know it. there are two companies left in america that have intellectual property, those that have been hacked and no and those that
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have been hacked and don't know what. gerri: apparently everyone has been hit in some way. what was interesting about this, the left and right, dams and republicans, a bipartisan report how important is this threat right now? >> well, the problem is what you do about it. steve things, one, heading into the defense industry and the stealing stuff that is costing us hundreds of billions of dollars to develop a new fighter , submarine. stealing that and they then have all of that technology. the second thing the arguing, and we aren't sure why, is there are getting in and hacking and snooping around all of our computer systems. looking at the electric grid, the water supply system. gerri: this does not make me feel good. >> you don't know why they're doing it. did they use it in some kind of warfare situation? that some point the mere threat of saying we could shut down the electric grid on the east coast of the united states.
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we don't want you to do a darn thing when we take over taiwan. >> the big 2003 blackout in the northeast, some people say it was triggered by a chinese actor who made a mistake. fifty americans died that time. also, a florida black of the some people attribute to china. they're going after the infrastructure backbone in the united states because in a wartime scenario it would be very useful to be able to shut down like. >> they would not even have to use it. it could threaten to use it. gerri: we are not the bad guys, we adjust the company tried to do business and compete on an even playing field in your market. let's take a look that this company, the details, the world's second-largest telecom gear supplier, 70 percent of the businesses overseas. the operator and 140 countries, but only 3 percent in the u.s. i look at this and some of the 60 minute speech last night and they have a spokesman on say everything is wonderful and nothing hurts. how can you see them as the
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nexus of everything that ot an overreaction.try? let me spin out a scenario. the east coast, detroit goes dark. the president of the united states is not sure why. they think he was because they had a heat wave. the chinese ambassador says, actually, that was us. would you like us to turn it on? we say, sure, but we don't have the critical infrastructure, a couple of key component parts to fix that a lot of great. that is real power. gerri: is that going to be a next war? >> chinese colonels have written books about using all sorts of tactics in a wartime scenario. you know, we are in good company. you have to remember, now the second-largest telecom equipment provider. it did not exist 25 years ago. it was started by a former colonel. gerri: we give up on the
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marketplace. american manufacturers walked away. you cannot buy all of these goods and services just for american companies. >> they took the technology, and that is why they were able to do that. also, they get the backing of the chinese government which is why they grew from nothing to second-largest company in 25 years. it was done by this former chinese colonel. how did that happen? gerri: that is a big question. the ceo of the company, mr. remand the of former military, no experience in this industry raising more questions than it is answering. gerri: why would we put ourselves at that level of vulnerability? we are already so vulnerable to china. hillary clinton even says, you don't pick a fight with your banker. if three of them so much money why would we also make ourselves vulnerable? our entire critical infrastructure. gerri: china is buying goods and services and jobs and land. coal mines all over the planet. at some point how you stop?
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>> they are going to stop themselves. too much in the way of commodities. the iron ore has been put into granaries, storing copper and car parts because they cannot use all the a but. manufacturing has contracted for 11 straight months, and the economy is flat line right now, so they have a predicament where they bought much too much. gerri: one of the biggest threats to the u.s. economy now is china's economy. i want to change tax a little bit and talk but mitt romney. he had an impressive delivery today on foreign policy. a big speech. here's what he had to say. >> the president is fond of saying that the tide of war is receding, and i want to believe him as much as anyone else. when we look at the middle east today with a run closer than ever to nuclear weapons capability, with the conflict and syria threatening to destabilize the region and with violent extremists on the march and with an american ambassador and three others dead, likely at the hands of terrorists.
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it is to the rest of conflict is higher now than when the president took office. gerri: does he have that right? >> i think he absolutely does. i have been waiting 25 years for the speech. romney david. he was channeling reagan, harkening back to the notion that america uses our economic power to influence events in the world. use our economic power as a weapon. shutting down their economy. using the american military, not to use it, but to have it there to prevent it have to be used for. gerri: talking about dialing back on this of the money we give to egypt which is a big talking board for the right right now. you look at this. what did you make of this speech? inspirational or more of the same? >> it was as operational, but what i would have liked to hear him say is the causes. he talked of sentence. what we need to do is talk about the causes. you take china and russia and remove them out of the equation. that means countries like
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venezuela and syria are nothing, and we could solve the world and six months if we could get china and russia right. unfortunately they are hoping the bad guys. gerri: by what can i explain? >> for instance with a ride to a rant. nuclear weapons technology. gerri: said that he said we were hoping the bad guys. great conversation. always great as our people on the show. >> and to go with it. gerri: thank you so much. now we want to know what you think. here is our question. is the administration ignoring the growing threat for china? log on. i will share the results of the in the tonight show. much more on the race for the white house and i am joined by "wall street journal" editorial board member stephen more. more to come in the hour. a new book shows us a disturbing trend in the work force. where are all the men? i'll give you the numbers. next, the sticker shock in california getting worse as prices hit record highs.
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>> well, and no word, it is balkanization. the problem is that california as a bookkeeper in the fuel that is unique to california. and there was a refinery outage and because of that limited pool of gasoline that is only to be used in california, prices are soaring, and the problem is not unique necessarily california, but it is being hit very hard because of this boutique blend of gasoline. gerri: let's break this down starting with the refineries. the refinery power outage, the richmond refinery that caught on fire and is down. i read recently that over the last two decades for refineries in california have shut down rather than invest in expensive upgrades to comply with regulations. when you start with a finite number of refineries, 14, which is what i read that they have in california, and you lose a couple, it's a very big deal. >> well, of course. this problem, though, is why is
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it -- recurring now. in a word it is the clean air act. the epa has allowed various regions of the country to prescribe specific blends of gasoline, and the problem now is that we have the most of balkanized fuel market in the world. we have something on the order of four dozen different gasoline blends being sold nationally by some accounts up to 70. gerri: why is that a problem? how hard can it be? >> well, because they're is a specific plan for california. now there is a shortage of gasoline in california. there would not be a shortage at that same land being used in oregon, washington, utah, nevada. they can easily import the gasoline in need, because of rules that are allowed under the epa and the clean air act california is essentially an island to itself when it comes to the specific plans of gasoline, and it could get worse in california goes ahead with the low carbon to a standard
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which it appears that there will. gerri: i was just going to save you think there are a lot of regulations now. just wait. a boy, howdy. more are coming. captain trade. there is a low carbon fuel standard in 2015. what will that do to people who want to drive a car and sit in california? >> it is going to be a dramatic rise in costs. the oil price information service is estimated, the low carbon fuel standard will likely raise gasoline prices in california by a dollar. diesel prices by as much as $2. remember, diesel is used for the delivery of virtually everything that we use. again, another problem for their overall economy is this process whereby they are making all forms of energy more expensive. gerri: does this ripple through to the rest of the country? i have always wondered about how these problems in california commanded as those they have
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trouble, how much it hits other people. >> that remains to be seen. california, i live in texas. we like to make fun of people in california. remember, this is one -- it's true. it's one of the biggest economies in the world. memory serves, nighter tenth largest if it were a stand-alone country. you're going to see huge economic impact some california, jobs leaving the state. of course it will affect the rest of the country because california is a bellwether for the rest of the country. unfortunately when it comes to energy policy we have seen of the last four years are policies that imitate what the californians have been doing for. gerri: bad idea. well, governor jerry brown agreed to allow refineries to make it cheaper went to blend. will that solve trouble? >> well, no. i don't think it means it's over because, again, as you pointed out earlier, very few refineries that can make these boutique blends that are unique to california.
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you have is really perfect storm on the rise in with captain trade in the low carbon fuel standard. this is really just the beginning of problems for the california motor fuel market. gerri: it is always a pleasure to have you on the show. anytime you want to make fun of californians, call me right out. [laughter] >> thanks. gerri: thank you. all right. still to come, of the way drivers are getting the shaft and how strong debate performance is translating into good poll numbers for mitt romney. plus, more and more men don't consider themselves part of the work force and more. why are they leaving in droves? that's coming up next. with the fidelity stock screener, you can try strategies from independent experts and see wh criteria they use. such as a 5% yield on dividend-paying stocks. then you can customize the strategies and narrow down to exactly those stocks you want to follow.
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♪ into a fifth anniversary of remission? ♪ whatever your business challenge, dell has the technology and services to help you solve it. gerri: labour participation rate may have picked up in september, but just for men. it's a different story. we'll break it down in 60 seconds.
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♪ gerri: where are all the good man? that is what my single friends as we all the time. now the same question is being asked by a prominent economist. in his new book, a nation of takers, nicholas everest that makes the case more and more men in this country are opting out of the workforce and signing on to government to a settlement. that's right. fewer men working. more of them on the dole in this country. check out these numbers. over the past six years or so the proportion of women who work has nearly doubled from 32% in 1948 to 60 percent today. but men, it's a whole different story. the proportion of men working during the same time has gone to a 73% from 89%. let's face it. women are becoming more and more important in keeping american work. you are probably thinking the great recession had something to do with man's ability to keep and retain the job. after all, many of the jobs lost
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were typically fellows like manufacturing, construction, and the like. but the proportion of men working was already eroding, even before the crash, down 13% between 1948 and 2008. today, an unbelievablecent of mt consider themselves part of the work force. the proportion of men and labor force in their late thirties in this country is lower than in greece. the problem is not for it -- the promise of the availability, but the desire to have one. to be sure the aging of the baby boomers had something to do with this, but i'm not talking about people really take a social security payments after a lifetime of pain into the system what i'm talking about is men opted to go on the government dole at younger and younger ages blaming the widespread abuse of entitlements. one example, the explosion in disability claims awarded under social security. look at this. a monster increase behind these
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numbers. many men making a conscious decision to go on the dole rather than work, and some cases because they make more money that way. think about it. i believe work is the way most of us establish a sense of self-worth and purpose. i think most americans believe the same thing off. some were created an environment in this country where it was more highly rewarded and priced. not just for the fellas, but the women as well. when we come back, more and more americans are getting behind mitt romney, and a new poll shows the president's. next why people are lacking in now. you see us, at the start of the day. on the company phone lt that's a few names longer. you see us bank on busier highways. on once empty fields. everyday you see all the ways all of us at us bank are helping grow our economy. lending more so companies and communities can expand,
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grow stronger and get back to work. everyday you see all of us serving you, around the country, around the corner. us bank.
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♪ gerri: well, the lead in the polls evaporate if the first presidential debate where mitt romney emerged as the clear winner.
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what does obama's less than stellar performance me for the vice-presidential debate thursday? joining me now, board member of the wall street journal. always great to have you with me. on set. i feel so special. let's look at some of the polls. from the closing the gap, and there are arrange this show romney really doing better. gallup, rogers, rasmussen, by 5%, 3%. that is statistically significant. >> this is what you call a bounce. boy, was it. i mean, look, he cleaned up. now, of course obama will have two more chances. a total of three debates, but i think that the debate was important for two reasons. one, mitt romney looked presidential. he looked like he can play the part, and that was important. he was -- he was more up to speed on the issues that barack obama was. gerri: the guy who's running the country did not seem able to counterpoints. >> right.
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obama could not get past the sound bites. now, i am old enough to remember when walter mondale beat ronald reagan in the first debate. no, my god. walter mondale will be president of the united states. of course, reagan came back. that is when he made his famous statement. i won't use my opponent's age and experience in this debate. but then, i think the vice presidential debate is important because that is coming up thursday. i think that paul ryan has also come across as being presidential. could this guy to fahey is pretty young. gerri: big expectations. i expect 55% ryan, biden 39. >> while. gerri: when the expectations are that high a is easy to give it up. >> that is true, as barack obama learned. i would let joe biden do as much stocking. you never know when he's going to stuff his foot in his mouth. he has done it multiple times over the last few weeks.
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gerri: romney's court in that debate on issues that he really wanted to talk about, jobs and the deficit. my understanding is that you just looked at this today and found obama scored 20 on the deficit and romney scored 41. when the team to jobs, 24357. run the way out ahead. >> obama keeps saying, romney's test plan will go below this $5 trillion : the budget. the other line, i have this $4 trillion plan. there is no plan. i have to blame people in the media. they are correctly pressing romney to be more specific about his plans, but i don't think that the press has been even handed in asking barack obama about his plan. you keep saying have a $4 trillion plant. i have not seen it. >> here is another issue along those lines. the president has gone so negative year. calling romney a liar which is something you don't typically
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do. >> i live in virginia, so we are just saturated. everytime you turn of the tv. football game, fox news. one after another, and these guys almost all of the obama ads are-. and that -- and not so sure that works so well for an incumbent is to go after the opponent like that. gerri: how much good can run the do? can he really move the needle on the polls? >> you and i were talking about this. i don't think americans think a whole lot about the vice-president when they don't in the voting booth. mostly vice-president dan hurts rather than help. that is why joe biden is a problem. he has become a bit of an embarrassment. in terms of one gap after another. if it was just a couple, but he keeps saying these things. i am surprised the romney campaign let's imagine public anymore. gerri: you mean obama campaign. >> exactly.
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it is going to be fascinating to watch. so interesting to watch the contrast between the mood of conservatives and republicans before the debate which was so demoralizing. gerri: here is to romney put it to. the gop strategist to said, you can't do this. those are the people who were embarrassed that night because he was getting so much harsh critique from those folks. >> i think his best line of the night was about his five sons. you can only take allies so far. gerri: appreciate your time. great job, as always. when a candidate does not win many people tend to move to canada or another country. jet blue is offering deals to get out of dodge of the menu support does not win the white house and some of. for the few that follow-through you want to know where they go? the hc the country rable income, most jobs, and thus whether to be number three, the
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cayman islands. voted number one in overall experience thanks to things like the most holidays, the most organized finances faugh, easiest to find accommodations and ability to learn the language. number two, thailand. featured in the latest takeover flick. the best social life and the most people with more than one property. another one place this singapore. this country was voted number one overall in economics, including incumbent, utility access and local transportation. it turns out people don't go to canada any more. fracking number 21 lowest. i will never leave here. and not going to be in next pat. coming up next, unemployment nearly 8% to mate may seem like there are no jobs, but one industry has the answers. red light cameras are popping up all across the country. what is being done to make sure your city can let your money. unfair ractic. for many, nexium helps relieve
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heartburn symptoms caused by acid reflux disease. osteoporosis-related boneractures and low magnesium levels have been seen with nexium. possible side effects include
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headache, diarrhea, and abdominal pain. other serious stomach conditions may still exist. talk to your doctor about nexium. gerri: the recipe for job growth that might surprise you.
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many employers are cutting back. restaurants across the country are heading toward their strong this year and hiring in nine years. to give you a taste, americans stepped out to eat a whopping 61 billion times, and the industry is set to recover $600 billion in sales. phar-mor, ct -- cocke restaurants joining me now. great to see you. what is going on here? >> good to see you. thanks. gerri: i thought that consumers are, you know, not in a great mood, not spending money. they are spending money on eating out. why? >> a couple of things. in a recession you may not buy a new shirt or a new dress or put off buying the new car, but you're not going to put off a meal. and particularly with fast food, which is what quick service restaurants, which is what carl's jr. and hardee's, our company, our brands, you can get black angus beef burger or chicken tenders. turkey burgers, made from scratch biscuits. really great food that you can
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get probably as inexpensively as it would take to make it at home, and you don't have to spend the time in that sense we are recession-proof. gerri: my mouth is watering is to say this. it is 6:38 p.m. some numbers that i think people should hear. restaurants, 645,000 jobs added. 13 million employed, percent of the u.s. work force. expected to add one half million jobs over the next decade. this is against a backdrop of unemployment report on friday that was disappointing at best. what did you make of the numbers of our. >> reporter: highly controversial. >> obviously the number that you were talking about is what is called a household survey which shows that there are 874,000 jobs created. the establishment survey which really, establish and surveillance of 141 businesses and government entities. comes up with a more stable number. the household survey is a much more volatile number. 60,000 households. the most interesting thing about the household survey, and this
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relates directly to the restaurant and other industries with large numbers of employees, the fact that two-thirds of the 8,703,000 people, 582,000 of those jobs were part-time jobs, and i think that kind of shocked everybody. if you look back in march we had 7 million people who were working part time looking for full-time. gerri: what does that tell you about the strength of this economy? >> what it tells us in our industry, quite honestly, is under obamacare, which we are all contemplating will take effect nasa's the supreme court decision, if you have a part-time employe you you don't get -- you don't incur the costs , the obamacare cost. an employee that is working 40 hours and he quits or retires or is terminated you have a choice. hire another 40 hour week complete and incur those costs, or you can hire to employees that each work 20 hours a week and you don't have those
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incredible costs and therefore you can grow your restaurant, create jobs, do the things that businesses like to do. when you look at these numbers it is good to keep in mind that part of what is going on is a lot of employers, and not just the restaurant industry, but across the country, as employers are leaving their hiring to part time to fill the position of one full time. so it looks like you are creating jou're really taking one shot and breaking it into. i think there is strength in the restaurant industry. don't get me wrong. people are continuing to eat, and we are doing fine, but we have a problem with these numbers, and it is in those part-time workers are becoming part-time employee country, and that is not good for people. that is not a good move. gerri: it is not. thank you for coming on. always a pleasure to see you. come back soon. >> thank you. a pleasure to be here. gerri: all right. meanwhile, red light cameras, supporters say they exist to save lives. a new study confirms what many of us have thought four years.
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it's just another way local governments are trying to squeeze every last penny out of drivers. aaa took a look at red light cameras in new york city if and found that they are attached to traffic lights that change much quicker, sometimes 20 percent quicker an ordinary traffic lights. the net result, more traffic tickets. joining us, aaa spokesman robin sinclair. tell me what you make of this. what is going on? >> in many cases the yellow lights and red light cameras are too short. generally you should be given at least one second, between one and one-half seconds for every ten miles-per-hour the prevailing rate is diderot way to be able to get through the yellow light, the go no go decision or a driver can safely make it through without stepping on the brakes and probably causing a ridge crash, we found in 100 percent of the lights that we looked at the yellow lights were too short, not only
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for the prevailing rate of speed which they should be set to, but the city says their set for the speed limit which is 30 miles-per-hour which is not realistic because no one is driving 30 miles-per-hour. gerri: let's show folks what we are talking about. the average yellow light takes three seconds to change. a red light in new york city, little less, to a half. you could get caught because you are kind of operating on the rhythms you're expecting to see if you would have anywhere else. >> the word gets around that they're too short and people start jamming on their brakes to avoid getting the red light camera to get anyone to creating a problem that we were trying to solve. in concept we are in favor of red light cameras because they take care of those tebow crashes where vehicles at the site of another vehicle. this side is the weakest part of the vehicle, but if you're solving one problem by creating another, you're not solving the problem. gerri: us to collect the money they make. ticket revenue, from the new york post. the city's make 235 million over five years. this is an easy way to make some
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dope. i mean, frankly, if you were the mayor and want to raise some money, you know, just put them at every corner. you will get a lot of revenue coming into the city coffers. >> that is what is being talked about. the program being expanded. we think before they go for the need to prove the efficacy of the program as currently constituted. clean it up. they make more than 400 billion says this program went into effect in 1998 if. in the unfortunate thing is, they're using the same equipment they started using in 1998, and there have been technological leaps and bounds in the equipment that is used to set these things up since then, we're still using the old stuff. gerri: have you got no response back? yes. we will do everything you said. >> not hardly. the city says our study is bogus and that they're saving lives. that was their turn. gerri: aaa is bogus. but they sort of incriminated themselves in responding to us because they say at intersections, intersections all
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yellow lights are the same no matter what. well, they should not be the same. they should be adjusted according to the traffic situations at this particular intersections and hopefully we are putting red light cameras at traffic practice of crash prod situations rather than just intersections with a lot of traffic. gerri: you will stay on this. this is one of the stories that drives people crazy. let us know what you hear. you will come back to you when you get an answer. if you don't get an answer we will be right back and as well. >> i'm sure we will get an answer,. gerri: thank you. >> you're welcome. gerri: still to come, mike teenine and the fed may have pushed the market's up, but earnings may come back down. while many on wall street are predicting a bad earnings season and what you should do about it next. ♪
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gerri: earnings season kicks off tomorrow, and many on wall street are not too optimistic. my next guest will tell you why he is and what sectors to watch out for next.
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♪ >> from our fox business studios in new york, here again is gerri willis. gerri: in focus tonight, earnings season which kicks off tomorrow with alcoa reporting, both investors and analysts agree it is not looking good for company's bottom line. which should yield -- which should you invest? here is more, chief market analyst at john thomas financial. great to see you. no, the expectations for earnings season, this quarter and next year, not entirely positive.
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you tend to disagree. >> well, i know that i do agree with that. bad expectations, but that has been in the media for a while. so i think investors have already positioned for that. everybody knows, i believe, that pre in mountain sub been running. the ratio of-the positive pronouncements has been running 41 verses the long-term average of two to one. so i think a lot of this -- gerri: the numbers. >> expected to the numbers. gerri: we have a lot of names coming up this week, everybody from j.p. morgan to yum brands. talking a little bit about the future outlook and 2013 for just a second. what is interesting is, while analysts have ratcheted back expectations for the upcoming quarter, they have not for 2013 necessarily for. s&p 500 earnings estimates at 13%. s&p 500 -- s&p small-cap sector
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of 25%. are those numbers going to come back down? and if that happens, who is going to disappoint? >> i think that is one of the reasons that the large caps have been outperforming recently as opposed to small and ms. gaps. people are not respecting those numbers so far out, but it is very hard to talk about 2013 without talking about the election. and the fiscal cliff that is coming up. that is really important. longer-term i am very bullish. but we have to see some things take place. the reason i embolus is because you have a synchronized global asset purchase program going on around the world. the fed -- gerri: central bankers. >> central bankers of doing that. make sure that interest rates stay low. so you have the spread, the so-called fat model evaluation to spread between equity yields and bond yields. very attractive.
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gerri: of stock for a second about what might happen to the market if we don't get some pullback from this fiscal cliff. >> if this earnings season is worse than expected because i -- again, i think a lot of it is built-in unless it is really terrible. and -- i don't want to be overly political, but i think that a president obama is reelected it is a problem, and i could turn very bearish on the market for the balance of the year. gerri: a sell-off. >> you could see a sell-off because i think people we will forecast problems up there. conversely of from the is elected by think that it is a whole new ball game, and i could be extremely bullish on the market going through until march or april. gerri: in the sector that can weather this storm? parts of the market did you think, well, i am not worried about this area. >> definitely. you just had a guest on talking about restaurants. i'd like financial's.
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health care, no matter who is elected to. if obama is not reelected, health care might not be so great, but i disagree and think health care will begin in the wake. consumer discretionary stocks like a lot of retailers or like these restaurants was talking about. some very positive trends. i agree with that. gerri: one of the issues we have seen over and over again this year and one of the things i am really concerned about is small investors, regular investors like me hempel of the market. it untruss stocks, the stock market. what would you tell them tonight? >> i would tell them that the conditions are set for a tremendous bull market to go through quite a few years once we solve some of these problems. if we do get romney in their you're going to have tremendous -- the united states is sitting on a tremendous amount of energy, our own energy that is a huge stink. historically a lot of people don't know it, but the best year in a decade to invest is typically the years that ended
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two. so -- gerri: there is a factor have never heard. >> that is the truth. you have this huge middle-class growing around the world. if we can get through some of these problems that we have ahead of us now, and i think it takes new leaders, but if we did it i think we get through that. i could paint the picture for real super bowl market. gerri: american companies serve those middle-class folks in other countries. thank you for coming on. appreciate your time. >> you're welcome. gerri: will be right back with my "2 cents more" and the answer to our question of the day. is this a ministration ignoring the growing threat from china? ♪ [ male announcer ] at scottrade, you won't just find us online, you'll also find us in person, with dedicated support teams at over 500 branches nationwide. so when you call or visit, you can ask for a name you know. because personal service starts with a real person.
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>> this is a test
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energy is being produced to power our lives. while energy development comes with some risk, north america's natural gas producers are committed to safely and responsibly providing generations of cleaner-burning energy for our country, drilling thousands of feet below fresh water sources within self-contained well systems. and, using state-of-the-art monitoring technologies, sa sa >> this is afe a test. >> this is a test. he to a house intelligence committee warning that american
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companies should avoid doing business with china's to leading technology firms privity reports that that those firms those a national security threat to the united states. what do you think? is this administration ignoring the growing threat from china? we a 100% said yes. nobody said we are not paying attention to the threat. finally, forget sisters. seventy-three congress members voted for benefits for themselves. it turns out his wife is an executive at a public television station. democratic congressman dennis cardoza put in tax breaks for racehorse owners.
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he became a horse owner essensa kicked in and this gentleman expanded the number of people who owned it's not just democrats putting in these shady practices. one congresswoman double the lifespan of federal permits. and jeff sessions, changing the way that timber sales are taxed. nearly $1 million from the sale of timber was burned by jeff sessions. wh are doing is legal. in rules written by members of congress, lawmakers don't have to declare conflict of interest. is it any wonder only 60% of americans approve of the job congress is doing? they are too busy finding ways


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