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tv   The Willis Report  FOX Business  January 4, 2013 6:00pm-7:00pm EST

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said he was serious. on dead serious about this. burgoyne to put it away. melissa: economists out there arguing for this. this is a real school of some sort of thought. the story, starbucks is in the move -- the news again. the coverage and is ranked number one is the most expensive spot in the u.s. employees expend nearly 21,000 transactions. surprisingly. mcdonald's. what do you think? would you -- >> why this is great. it's coffee. what does coffee give? its caffeine. it keeps us up and keeps us alive, so employers to be at the >> productivity. >> absolutely. that's what it's all about. >> where does the madonnas think a man? >> they get your tired, lethargic and everything else. employers to let that one too much. >> mcdonald's coffee is really good. >> i agree with you. melissa: i'm not going to expand this. that's all the "money" we have. we will see you back here on
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monday. -- is coming up next. gerri: tonight, have you checked your paycheck? it's a lot less than it was before we supposedly were saved from the fiscal cliff. all have the details. and, of fight in one of state in your town could have sweeping consequences for gun owners and their privacy. a heated debate. welcome to "the willis report." ♪ gerri: hello, everybody. i'm gerri willis. our debt keeps ballooning, but our economic recovery might be full of hot air ending 2012 with a whimper. in the month of december 155,000 jobs were created, but our national debt grew 780,000 times faster. with more on this former governor mike huckabee of
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arkansas and host of fox news. welcome back to the show. great to have you. >> happy new year. gerri: happy new year to you. let's talk about some things that are not so happy, this nation's debt. racking up something like 16 trillion total dollars in debt, but every month its $120 billion which is just unbelievable. what do you make of that? >> $15,000 per second is what we're running a been debt. when you think about that, i mean, the most adventurous shopper could not go on fifth avenue in new york it's been that kind of money on any given day in december, no matter how hard it tried. it is staggering, and i don't think the average american understands that it means every man, woman, boy, and grow in this country who freed american air essentially no no. the $50,000 personally in order to pay off. no one can do that. it is hurting the economy, hurting jobs, hurting the long-term future of america more than a short-term.
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gerri: said congress say we're not going to cut spending. we will raise taxes. you can't raise taxes enough to cure this problem. >> you can't. all the taxes will run the government for 8-10 days, so it's not really anything other than symbolic. the president having the ability to stand on the backs of people who have made money in say, we got you. will make you pay more. the trouble is, it's not going to affect the budget. it's not going to really affect the lifestyle of the people who are going to be hit by higher taxes as much as it will affect what they will do in creating new jobs which means they won't because they don't know how many more times someone will reach into the pocket and ask them to pay what liberals love to call the fair share. i tried to get people to tell me, give me in number, tommy a percentage. what is the fair share? they won't do it because right now the average person who is to over 400,000, such a villainous group, they're going to be paying about 44% just in federal
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taxes, does not include state and local, 44%. how much is enough? gerri: if you are here in new york city and your pain real-estate taxes and local taxes, it's approaching 60. so when you think of that, six of every $10 going to some government entity somewhere, it's a little too much to take for a lot of people. let's talk about this congress, this do-nothing congress, can't seem to get anything done. two more problems coming up, the debt ceiling. and just this week people are getting paychecks for the first time that include that 2 percent increase in apparel tax. what the people make of this? >> a lot of people will be shocked because they remember the president saying, f you make less than $250,000 i guarantee you won't pay one more dime in taxes. well, they're paying lots of times and increased tax. a person making tricky thousand dollars is pro we going to be on the cross $1,600 additional
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money. if you're making 50,000, you don't have $1,600 of disposable income to give the government so they can waisted and borrow more money. it's going to it people hard. add to that the obamacare tax and then what states and local governments to doing. the economy will be in a world of hurt this year. gerri: and we can have a big tax resolution. the point that people really start seeing the impact of this, they may go with their feet and make calls to congress. who knows what's going to happen >> i do think that there is going to be a revolt, in large measure from people who voted for obama baena ted the nasty rich people. is that going to hurt them. understand, it will. when some of them lose their jobs because the rich got to work for decides he can afford to keep on the payroll as many people as he has because the taxes that he is paying, it's
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either pay the government or keep the employee. well, he can -- he makes a decision about the employee. he does not get to make a decision about the government taxes because of the doesn't pay that he goes to jail. gerri: exactly true. of course we have jobs numbers today. when you come in on that. the rate goes up. 155,000 people. jobs created this month. that's just so unimpressive. >> is not only an impressive. if we don't create 240,000 or more jobs a month or not even keeping up with the number of people that are being born. the whole in the workplace. the real issue is that so many people have just quit looking. they have given up. what is the government's response? let's pay people an additional time to not have a job. i'm sympathetic with people who can't find work. unsympathetic with people who won't find work because the government will continue pen. ninety-nine weeks to not work. if you get two years of pay for
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not working, it will be hard to ever do you want to work again. gerri: i absolutely agree. the government has other solutions, not just extending unemployment. they also want to amend of platinum coin worth the trillion dollars. >> is in that billion idea? was just inside the currency. the idea behind this is that it would avoid the debt ceiling fight because if you print money and you use that as the basis to borrow, well, then you can say that yourself because you just printed up money. anybody, i think with an iq above broccoli should certainly understand that if you have created is completely false economy by prince tomentum a corn to that is utterly worthless other than you told people that it's worth something and that's the basis of borrowing money, the only people crazier than the ones meant in the coin would be the one suit would let america barrault of
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such a funny : >> at some people the -- at some point people stop believing your promises. >> people need to understand that government cannot just keep giving things. you know, i wish sometimes we would replace the speech by president kennedy. the democratic republican thing because he's a democrat. but it clearly said, and he was part of that vision. when i was a child remember him saying at the inauguration, ask not what your country can do for you. ask what you can do for your country. we need to raise americans to believe that their responsibility in being an american citizen is what they can do for their country, not sit back and say, what can my country do for me. >> are what can i collect. thank you for coming on. >> great to be here. gerri: a pleasure to have you. and we can hear much more from the governor by turning into his show we can set a p.m. eastern time on the fox news channel.
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more on the jobs report coming up. first, the new congress passing a bill approving nearly $10 billion in aid for victims of super storm sandy. that is the first of two sandy relief measures making their way through congress. today is for the national flood insurance program. that was due to run out of money next week if congress did not act. currently 115,000 sandy-related claims as well as 5,000 claims from other floods. the governors of new york and new jersey said today's voting congress is a good start. they call it a down payment. votes are planned for january 15th at the house and there are many 51 billion in aid the senate approved. i hope they get rid of all the pork. the speaker pulled the bill from the floor because of the port. now we want to know what you think. here's our question. should homeowners without flood insurance to the bailout? log on.
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also resulted in the the shell. more to come including more on that any me jobs report. the fight over gun ownership and privacy. what's happening one small community that is creating waves of the country. [ lisa ] my ne's lisa, and chantix helped meuit.
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♪ gerri: the newspaper that added gun owners and to new york counties is getting the red light and another. putnam county officials refusing to release the names and addresses after the paper published an online interactive map detailing where each gun permit older lived. names and addresses.
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but, can the county with all public information? joining me now, fox is legal analyst and criminal defense attorney and former prosecutor, jeff cold. welcome. great to have you. all start with you. in the newspaper, the putnam county newspaper turned down what is essentially the freedom of the formation request. >> well, if it's because of privacy concerns are six concerns, there are exceptions to the freedom of information act. i don't know whether they sure are not, but can they if they're right about the decision? gerri: there are people out there saying there is no way they can turn this town. you have to respond to the press request if you have the information. >> were not talking about sex offenders. if retire talking about sex offenders to my would agree with you, i would implore the newspapers to publish those addresses because that is a public safety issue. but now here you're talking about folks that are licensed to have caught permitted to have a gun. this is completely legal.
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so it's almost a safety issue, certainly a privacy issue, but i would argue a safety issue for those folks of their names are out there. gerri: that sam apparent and i have kids and there's a play down the street. maybe the folks i knew the neighborhood in a more reid. i want to know if it is again in the house. should not have access to that information. >> i think you should. the thing about it, think about it this way. i buy a gun for protection. i probably want to pay extra so the publish in the paper i have a gun so that everyone know, i have a gun, stay away from the. on burglarize my house. gerri: you think that is information you want to have out? people who have guns don't want that affirmation out. >> why? why he won again? for protection. >> let's say i'm a woman who has been abused by a former husband, not only do i not won and to have a gun, and anyone to know where i am. now you publish not just the fact that i have a gun but my name. >> the only reason. let me go back to your plate.
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the mom, dad. that's one way to find out. but the other thing, to put a name out there they've done nothing unlawful. to have been exposed like that to malign. >> you might go back to the kids. on worried about people having a road map to wear every gun is if they're want to steal a gun. that is the other concern. including the kids. every kid who has a laptop will then know where every gun is in the neighborhood. so there are two sides to the issue. they need to clarify the law properly to make it very clear. gerri: wait wait wait. what you talking about clarified. come on. there's nothing to clarify. >> everything should be under the sunshine, open public records alas, and that is the well law is written with exceptions. they should be very clear. gun permits may be should be an exception. maybe you don't want people to know about that.
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>> public safety, all of those things are exceptions, and i can certainly see. we have done nothing wrong. you are abiding by a lot to get the permit. what the fbi know if you have a gun, the atf to know. gerri: there is information i share with the government. i file a tax for every year, every financial detail of my life is in washington d.c. that doesn't mean they should be able to share that. >> that's privacy. that's not released. again, you have to show what the harm is to somebody knowing i have a gun when the whole point of having a gun is to publicize the fact, stay away from the. >> i don't know that that's necessarily the point. >> you going to ambush somebody. no. >> that does not mean that every public document is open and can be turned out to the public. there are exceptions, and i think in this case they made a wrong decision.
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gerri: another argument being made. and that's this. the newspapers, you know what, they're trying to sell a few newspapers out there. this is publicity. they're getting a lot of attention. and sort of taking advantage. what you say? >> that's what newspapers do. they sell papers. is that illegal? now. is that an illegal use of open public records. gerri: does it give your reason? >> what i say is what is the harm in knowing where the guns are. add all see the harm. gerri: i see a lot. worry about people being been pointed. >> that they have a gun, but they have a gun. >> you might be crazy. don't let your kids go there. they have begun. your talking about permit holders to have done nothing unlawful. sex offenders, have them listed. all of that. but rifle gun owners. gerri: absolutely a safety issue
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>> if this is a big issue the legislature makes it clear. to release the information. >> at like to say we have settled this. gerri: we haven't. thanks you for coming on, both of you. appreciated. great conversation. i feel edified. coming in, the latest of report gives no indication when the unemployment rate will begin to fall. are we entering a new economic phase? and if you thought the last congress was bad, aren't they? destroyed until you hear what is on the agenda for the new congress. i'll break it down next. this is $100,000. we asked total strangers to watch it for us. thank you so much. i appreciate it. i'll be right back. they didn't take a dime. how much in fees does your bank take to watch your money? if your bank takes more money than a stranger, you need an ally.
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ally bank. your money needs an ally.
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at legalzoom, we've created a better place to handle your legal needs. maybe you have questions about incorporating a business you'd like to start. or questions about protecting your family with a will or living trust. and you'd like to find the right attorney to help guide you along, answer any questions and offer advice. with an "a" rating from the better business bureau legalzoom helps you get personalized and affordable legal protection. in most states, a legal plan attorney is available with every personalized document to answer any questions. get started at today. and now you're protected. gerri: brace yourself. the fiscal fist fight in washington has only just begun. what this means for you when your wallet in 60 seconds. don't go away.
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gerri: how you glad the fiscal cliff is over? i have to tell you, more of the same to come. kent rational wrangling, likely more rate -- name-calling, pushing the decision making to the 24th hour and beyond. here's the calendar of events. sequestration. this is that 600 billion in tax cuts in the defense department. congress was supposed to decide what to do about the linacs, but it has not done anything at all except the can down the road for another two months. spec that conversation to kick into gear late next month. and then the debt ceiling. democrats won permission to spend more money in march. congress has the constitutional authority to set our debt ceiling and has agreed to raise it. watch for a big fight as republicans try to institute some sort of fiscal sense that democrats resist. the big events, but there is
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another one that happened today that congress did not pass a resolution to recognize that happened. you probably already know about it. the payroll tax has expired, and if you get your first paycheck today says the fiscal cliff, well, watch out. you may be shocked by then nearly 50% increase in the tax. the social security withholding tax reset. for middle-class american families earning $50,000, that means at least in $800,000 tax hike, maybe as much as a thousand bucks. if this is the first shot of about, it's not going over too well. here's what people are saying on twitter. if you're asking why my paycheck is less this week, is because you got what you asked for. on it. why is my paycheck bless this we? because obama loves to penalize the makers and redistribute to the takers. it gets worse. on and on and on. my prediction here is there is
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no attempt to curb federal spending, we will have to raise taxes again and again and again on me and everybody else. that's going to be the new normal. coming up, we are not just dealing with the federal tax hike. most american side and the paychecks. what about state and local taxes. what to expect. more on today's not so hot jobs report. will this be the ammunition republicans need in their debt ceiling fight? coming up next. this is america. we don't let frequent heartburn come between us and what we love. so if you're one of them people who gets heartburn and then treats day afr day...
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♪ duty as a new york, here again is gerri willis. >> i want to bring you the latest developments. the 15 year old pakistan the girl shot in the head by the taliban has been released from a british hospital.
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officials say she is strong and recovering well, so she will have to be readmitted next month for another round of surgery to rebuild her skull. as we told you, she was shot in the head by muslim extremists for promoting growth and education in her own country. she will live with their parents and two brothers in the u.k. was a continues to receive treatment good news. meanwhile, the jobs report showing the slight growth. not really moving the economic neil. presence dollar an american enterprise institute and former consultant to the treasury department and steve son, president of capital public affairs and a former labor department official. all-star with you. where can i get -- what you make of this report? >> 455,000, which was the jobs increases, the average for the past couple of years. what is really striking about this is this is the best we will see for a while.
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gerri: what? >> yeah. normally at the start of the year we're looking at big stimulus. last year payroll tax cut, help from the fed. on average since 2008 the stimulus of the start of the year has been three and 55 billion. this year its-270000000000. so we go from of big tailwind to a big head wind. this is the best numbers we can do at this point, wait until those tax cuts, people and get their payroll, their paychecks. gerri: let's let steve and then. do you agree. >> i think it's pathetic. the economy really is treading water. we have the most lackluster recovery since the great depression. clearly the president's policies are not doing what they're supposed to be doing. a lot of clients, small business people a petrified with no idea, no idea whatsoever with regard to up how to plan for their
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businesses to what taxes will be, what health care will be. afraid to hire anybody. this is not a good situation. the economic engine has always been small business. a small businesses are hiring them we have a bad situation going on. gerri: you guys are saying this is a terrible report. but what is interesting about that is i think a lot of people thought that, you know, maybe this looks better than it actually is because of hurricane sandy. a lot of special things happened this month. you're saying it's worse the more we're seeing. >> there were some special things that made it better. sandy, the weather in december was warmer than usual. that always gives a little boost in its construction. hundred and 55,000. an uptick in the unemployment rate. as i say, as the best we will see. you really have -- you need all the help he could get today, but it's not going to be there. >> are shocked by what you say.
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one of the things we have been following all along, labor force participation. not a big change, but really disturbing the trend. what do you think. >> i agree. lackluster holiday season. the estimates were down over last year. people don't have the confidence to purchase anything. you're looking at treading water this is not good. rirge: let me ask you about labor force participation. a lot of people say this is just baby boomers retiring. >> i don't think so. i thinn a lot of baby boomers are struggling right now because they have seen a lot of their income and savings goal weight. the housing market, for example, has been a terribly. a little bit of growth. this is a terrible situation that goes very deep into the economy. we need leaders in washington right now. we need policies that will take us out of where we are. gerri: i was hoping not to get to a political conversation, but it does lead the way. i want to ask you about the
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federal reserve, the target rate. you know, the fed was just talking this week about ending some of their special support of the markets this year. the stimulus money is going away, the federal reserve support would go with the markets. queasy the jobless rate coming in? >> if you move slowly by the middle of the year it will be in the eights and probably by the end of the year close to nine. they're going to do some qe. everybody knows that. it's already. maybe those stop. which they won't do. >> business in america has a lot of cash. the problem is getting them to invest. and they are afraid to invest. so uncertain about the future. they don't know what tax policy will be, what health care will
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be. afraid to hire more people. in that situation i don't see changing all. gerri: to that point, we have the debt ceiling looming. if we were to find a solution for the debt ceiling from whether it makes democrats or republicans happy, we have some kind of resolution on the fiscal cliff. if we were to do the debt ceiling and take care of sequestration, do you think employers will start hiring? >> the best we could do would be to come up with a credible long-term plan. gerri: credible long-term plan on capitol hill and the white house. are you kidding? >> u.s. you're right. the problem here is, between now and the end of february is everyone going to say, well, here is a we need to do? are they going to agree on it? the republicans, i think, have corrected said we have done something on taxes. we raised it for everybody who works to raise taxes for those nasty rich folk. now cut spending in order to get
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on a gravel path to reduce the deficit. >> we enacted the greatest tax cut in american history. 25 million new jobs. the american economy had confidence in president reagan. in what direction was going to be. that is what is lacking. we need to have that right now. >> you go back. you have to go back to reagan, george bush. unemployment rate at 5%. five unchanged. people would be shocked to think that now. let's talk about this a little bit. people think of this as normal. that's about what the economy should do. your response. >> people who have jobs think of as normal, but the once you don't don't think of as normal, and the people who are going to look at their paychecks to the people look at their paychecks today will say, wait a minute. i thought we were going to get tax increase. unemployment is staying up. what's so great?
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>> it's unacceptable for the american people to accept anything out of washington and all. it's unacceptable. gerri: i love that and agree. i want to thank both of you for coming out tonight. thank you so much. interesting analysis. christoph. while the national jobs report was simply not spectacular , unacceptable, some cities actually seeing a big boost in jobs. for them 2012 is really pretty good. those cities make up tonight's top five. gainesville, georgia. they added 4500 jobs last year thanks to increasing manufacturing activity and a pro-business climate. the unemployment rate is only 6%, well below the national average. number four, in my home state rocky mountain north carolina, the unemployment rate is really high, down considerably from the 14% rate. the percentage of people employed is up five and a half% thanks to an increase of 3400 jobs.
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mississippi -- let's say that one more time. they added 13700 jobs, mostly in the mining, logging, and construction sector, but the unemployment rate is eight and a half%. here's the surprise. way out in the mountains. this city has set a boom recently. in the middle of 2012 the unemployment rate was over 7%. it is down to 56%, mostly due to hiring searches at virginia tech university. and the number one city and the most jobs is lafayette louisiana they boosted employment in the city by nearly 10%. the and plumbing rate is just about 4%, 1 of the lowest in the country. already seen a big pickup in tourism. most of the new jobs, and the restaurant and retail industries. the big loser, where it -- losing three nap% of their workforce.
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you did notice that most of those cities are in the south. coming up, why investors are ditching mutual funds, and what they are investing in. the federal government a mess. unable to give finances in order, but i states doing a better job? the results of the new report after the break. music is a universal language. but when i was in an accident...
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♪ gerri: many state and local governments seem to be starting of 2013 on the right financial foot compared to just a few years ago. some people say that, but joining me now, a senior fellow at the manhattan institute. he is the author of shakedown, the continuing conspiracy against the american taxpayer. okay. read a story summer about how states are doing a better job managing the money.
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slightly better physical condition, but you say not so much. >> emphasis on slightly. basically what happened is a state tax collections are going up, but after 2008 they went down for two straight years. then they stayed low. it is taking five years for the states and localities to actually get their tax collections back to where their work. the thing about that was during the five years the cost is been going up every year. pension costs, health care cost to medicaid. unemployment insurance. so what happens, the costs are appear. so -- gerri: 13,000. >> the pressure does not come of those states and localities. two-thirds of all government workers in america are employed by localities.
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your town, school district, county. municipalities. the december jobs report that just came up today. again, government jobs down 13,000 total. most local jobs because the pressure is enormous. it's not going away. all the experts keep saying, down the road it's getting worse gerri: we just had a guest on his said we have had all of the stimulus spending, and it is right now. it ends this year. none of that money coming through, and it's going to have local governments especially hard. >> absolutely. first of all, teetering for a very long time. 2010, beginning of 2011 which is why would you saw is for a while. private sector jobs going down and public sector jobs kept growing. all the suddenness of last year. so yes, the thing is, what they have not been able to do is they have not been able to grab hold of their cost. totally out of line with one another.
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the road government is no longer helping. on top of all that the citizens are paying higher taxes. taking money out of the private economy in states because that is where people live. sending more of that money to washington. gerri: i got a look at how this impacts me for the first time. i sent my coffee into the other room. >> they're going to be shocked because the social security tax was going up. every wage earner pays that. gerri: it does not sound like much, but it's a lot. >> is not to percent, its two percentage points. a went from four to six, almost a 50% increase, 50 percent increase. two percentage points is different. we will be paying a thousand -- gerri: look at that. let it affect the health the top health care costs are increasing because unions have swayed over all governments. they're paying higher and higher costs across the board. what gives?
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all i can figure, the only black in figured, congress will not cut spending, taxes go up for everybody again and again and again. >> i said this over and over again. >> at the state and local level we entered into a new era where people are paying more and getting less. fewer services happening everywhere and higher taxes. unfortunately that's the reality. this is not like past recessions . that is the reality in many places. gerri: next time you, and bring a better news. [laughter] >> okay. gerri: all right. good to see you. happy new year. well, something totally different. this stay in business. guess what, the euro hit the world stage.
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you remember this? eleven european countries can together to create the world's second largest economy with nearly 300 million consumers. it closed at a dollar. did not stay that way. the euro consists of eight. and silver paper bills with $0.77 for every dollar. currencies replaced by the euro include the french franc, italian lira, and the german deutsche mark. for those of you curious, it was not accepted until two years later because it failed to meet all the required conditions like being solvent. they probably should have read thought that decision entirely. made its debut on the stay in business january the fourth 13 years ago today. the investors sick of other people making decisions for them they stop believing in mutual funds. the truth behind these next. [ male announcer ] whe do you turn for legal matters?
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at legalzoom, we've created a better place to handle your legal needs. maybe you have questions about incorporating a business you'd like to start. or questions about protecting your family with a will or living trust. and you'd like to find the right attorney to help guide you along, answer any questions and offer advice. with an "a" rating from the better business bureau legalzoom helps you get personalized and affordable legal protectio in most states, a legal plan attorney is available with everyersonalized document to answer any questions. get started at today. and now you're protected. get started at today. we asked total strangers to watch it for us. thank you so much. i appreciate it. i'll be right back. they didn't take a dime.
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how much in fees does your bank take to watch your money? if your bank takes moremone, you need an ally. ally bank. your money needs an ally. gerri: more investors jumping out of mutual funds and putting their money somewhere
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♪ gerri: a good day for your retirement. the s&p 500 closing today at its highest level in five years, five years. just before the financial crisis hit. the indexes also up more than four and a half% of the past
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week. the market's extended the new year's rally. in exchange traded funds are very popular with a lot of investors or ets. they allow you to diversify over an entire market sector. here's what caught our eye. the amount of money investors pumped and hit a new record in 2012. 1,807,000,000,000. that's far more than the previous record set back in 2008. so is this for you should be investing? chief market analyst joins me now. ets, of the financial advisers like them because they are cheaper and actively managed mutual funds . you have some interesting insights into this debate. actively managed mutual funds or just buy some sort of sector fund? use a mutual fund managers don't do what you think they do. >> a lot of them don't, and in all fairness, there are many who are very good and they outperform their benchmark index is. to many of them are closet
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indexers. they just want to mirror the benchmark. they essentially get paid for doing nothing. gerri: let's explain. meaning they buy everything in the index. they buy the s&p 500 large cap mutual fund. it's up 14%. there up 14%. >> and they get their feet. investors to figure this out, and that's why so much money is going into the etf. gerri: does not the only reason. >> has not the only reason. gerri: they are cheaper. fees are typically lower. >> the fees are lower. it makes sense. investors are smart for doing that. mutual-fund managers frequently need to own so much. over diversified said that they can really outperform. there are some who do. investors, if they buy a broad based cts when they have exposure to the market, hopefully not as volatile, but
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if they buy sector or even one level of work, industry group do they may be surprised to the amount of volatility gerri: here is what i like. bullish for this year. >> a tremendous amount of reasons. first and foremost toward the end of last year when everyone was worried about the fiscal cliff i saw that certain indexes, small-cap, madcap, transportation indexes him and they were going to close the year at all times yearly closing highs. the nasdaq market place was going to close the year at its best level in 12 years. gerri: can argue with that. >> all these people who sold during december, now they're buying back. there is a lot -- gerri: are you worried about this debate going on in washington, the debt ceiling to my defense spending, sequestration, on and on. negative impacts in december.
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did you think those will hold the market back? >> policy mistakes and my number one concern, and that's from washington. the market here is that a very important inflection point. this could be what i call the point of recognition. valuations in the market based on bond yields verses equity yield since august of 2011 when europe was giving big problems. they rose to levels never before seen which show a tremendous fear on the part of investors. right now they're back in the lower part of that range. if we can break through that it shows that investors will not be demanding as much of a risk premium as thee have been. that would be bullish for the market. i think there's a good chance we see all-time highs this year in the s&p. gerri: give me one sector name you like and then we have to go. >> i did not get compliance approval for a name, but i'm very bullish on financials and on consumers. gerri: that gives us a lot to chew over and over.
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thanks for coming out tonight. happy new year. well, we'll be right back. the answer to our question of the day, some homeowners without flood insurance be bailed out? of give you my "2 cents more" on our real love story, an unusual wedding that will warm your heart. you're going to love it. don't go away. ♪ rosa ] i'm rosa and i quit smoking with chantix. when the doctor told me that i could smoke for the first week... i'm like...yeah, ok... little did i ow that one week later i wasn't smoking. [ male announcer ] along with support, chantix is proven to help people quit smoking. it reduces the urge to smoke. some people had changes in behavior, thinking or mood, hostility, agitation, depressed mood and suicidal thoughts or actions while taking or after stopping chantix. if you notice any of these stop taking chantix and call your doctor right away. tell your doctor about any history of depression or other mental health problems,
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>> this is a test gerri: more than two months after superstorm sandy head, victims were getting help from the federal government. should people without flood insurance be getting bailed out by the taxpayers? here's what some of your posting on my facebook page. terry says why not? ago by the banks. bill says no. i love this. we should only help the helpless, not the clueless.
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we also asked on and 4% said yes, 96% said no way. a viewer from oregon says we are tired of the bs coming from washington. the country is in big trouble and no one -- no one wants to fix the problem. every one of them and their friends has their hand in the money pot and, no one wants to cut them off. people are scraping by to make a living and are scared of what is coming. >> charles from north carolina says it upsets me that our politicians politicians keep arguing about tax increases and entitlements. social security and medicare are to think that i paid into my life. i have not heard one word from any of them about them cutting their own entitlements or pensions or health care perks. finally, we do not have a revenue problem, we have a spending probl


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