tv The Willis Report FOX Business January 28, 2013 9:00pm-10:00pm EST
>> the senate's business is not getting done because the bill is not out of committee. when harry reid says, when you talk about the ruling from the appellate court it was based on the imperial presidency with a rule created by harry reid. watery getting in america? 16 trillion in debt and unfunded liabilities over the next 75 years. and for the students, $823,000 of debt. how do we pale that off. >> and did you really gets the bush tax cuts? >> yes. >> a lot of people railed
case. all of that and more comg up. but first, to our top story. immigration reform. or is it amnesty? bipartisan senators reviewing their plan for immigration reform. critics are wondering if this path to citizenship for the 11 million immigrants in the united states is actually a fast-track umc. wh more can we have chris stirewalt,. >> welcome as always, it's in the details. that's what counts. in 2,702,000 page bill. it just tells me that that is a very convenient pretext.
gerri: we will have a lot of debate on us. taking a look at this list, you have to verify everything that happens. enforce new hiring procedures, a farm worker program and better tracking of defense. will the president accept this? he is announcing his plan tomorrow, or will he insist on his own list of priorities when it comes to immigration? >> what we will see is right now this is, as you pointed out, critics on the right are saying amnesty. which of course, it is amnesty. we are talking by the way, about a way to not get these folks to be illegall anymore. >> the definition of amnesty is a part and without any penalty. these folks will have to go through a background check. let's think of the crime.
they crossed the border without documents. they haven't destroyed property, they haven't hurt people. they have been working. if sony wants to use that word, amnesty, my senses you just don't believe in immigration reform. >> conditional amnesty is the whole word phrase of the game. if the president wants us to go through, what he cannot do, what he must do is raise the stakes too high or more dangerously to any plan getting past, denounce republicans and transit and against us and campaign as he has done on every other issue so far in this lame duck session. gerri: is the president starts firing first without once considering in these bills what
the content is, with that in mind, do you think the president will shoot this down? that it's no secret here that democrats have had as much of a problem with immigration reform as republicans. conveniently it has been blamed on republicans. depending on what the president says tomorrow, you will b able to see if he is serious or not. he puts on an impossible thing, that means he doesn't want reform. gerri: it is said that a republican member of congress interpreted this a different way. how did you interpret that? >> the reason the republicans can get away with this is
because the establishment doesn't punish them for being worse but they treat themselves single-handedly. you have the president saying this. republicans who oppose him of any conservative that opposes him on an issue is doing so not out of love of country or principle but out of a mean-spirited and cynical or cowardly point of view. if you start out there in the debate, you're not going to get very far in terms of finding common ground. >> let's remember the president promised that he would do this in his firstear in office and he didn't. gerri: i would like to ask you about immigration reform. one of t details of this bipartisan plan, democrats and republicans stanng behinit, the precondition is a secure border. is that even realistic? >> that is an interesting point that there is a circular online here. the reason that we hav undocumented workers is because our laws don't work.
so who is accountable for having laws on the books that don't work? are you sort of have to have all of it together. we are always going to have legal immigration. gerri: what we're going to switch it up a little bit. i couldn't help myself, do you think of this as a goal? are you surprised? >> no, because the chasm that exists in washington right now is that toxic. with the obama democrats are saying is do not worry about it. we can borrow the money cheaply. >> do we need more of that? we have $16 trillion of debt already. >> it's like the economy doesn't
exist. it is incredible. so we continue to spend and we are going to pay a heavy price for this. can i just say something about the folks that are coming out against immigration reform? is a great article by mario lopez. the center for immigration studies, they are all founded and funded by population control groups. very radical, very far left. i would just urge my republican colleagues to not fall into the trap. this is not an arican agenda that they had. gerri: i have one other question. jack lew. why should he be treasury secretary? his calling card was he was a
failure of mustard and not a success what do you say? >> the republican charge was and that he was a failure but that what you can open the door to get more donations back out. they just wanted him. >> the one that's what they want to go work for a big wall street investment bank. >> it isn't his biggest hurdle. they see him as dishonest, and number two, they see him as a liberal ideologue or not somebody who is what we usually see in the treasury, which is a numbers person before they are elite policy person. gerri: carlos, you get the last word.
>> on my fingers on immigration and amnesty not do anything as de facto amnesty. this problem is going to go away. gerri: thank you both so much for your time and a lively conversation. now we would like to bring you developments are in the white house continuing its push for stricter gun laws. president obama along with vice president biden meeting with shirts from across the country, including newtown, connecticut, and aurora, colorado. he was hoping to get them onard with his plan to limit high-capacity magazines and assault weapons. some parents of the victims have a different take on what needs to be done. the father of this 6-year-old told a legislative subcommittee hearing that there are more than
enough gun laws on the books. >> i believe in simple and few thomas. we have more than enough on the books. we should hold people individually accountable for their actions and we should enforce i would say we are not enforcing them appropriate. gerri: hundreds turned out for the meeting and he got a standing ovation. and a senate bill was passed two weeks ago, despite being loaded with pork. no doubt they will just pass without any question. a lot more still to come, including a warning over a possible bond bubble forming thanks to the fed. and talk of a green energy bubble. investors and the private sector keep backing away from president
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gerri: president obama pushing his green agenda. saying climate change will be a big priority in his second term. >> we will respond to the threat of climate change knowing that the burial of to do so will betray our children and future generations. gerri: democratic lawmakers telling president obama to push forward with his green agenda through executive action. as you know, that means bypassing congress altogether. my next guest says his green energy bubble has already burst. robert bryce is a senior fellow for the manhattan institute. it's always great to have you on th show.
this just drives me crazy and i'm glad you're here. congressman henry waxman and sheldon whitehouse. they are asking for the white house with these rules in place to prevent climate change. that is what they say. they want to accelerate federal investments in green energy. and they want to a -- they want to lower gas emissions by 2020. what you think? this is a crazy thing i've ever heard. >> what worries me about that letter is the idea that we can do this by executive action. but the president alone is the one with the stroke of th pen that is going to impose these kinds of policies. second, i think perhaps more importantly here, the united states is already leading the world. the international agency said the u.s. is already leading the world in reducing co2 emissions. it's not because of some government programs, but rather
because of this. gerri: these are the real culprits when it comes to climate change. greenhouse gas emissions rated the top of the list every single year we met that is the remarkable part about what is happening now. any of the ipc meetings that have happened in the last few years, look at the growth in the core market. within five years, the global market will increase by as much as the current conception of russia and the united states combined. coal consumption is falling here, but globally because so many countries are desperate, it is cheap and abundant and available. gerri: these guys want to spend more money on green investments.
you didn't hear about mr. or solyndra for other companies that we funded with our taxpayer dollars but ended up going bust. fisker karma is trying to find a buyer and again. >> is yet another chapter, unfortunately. a century of failure. here is a car, fisker automotive got over $192 million so far so they could build a hybrid electric sports car that cost $100,000. this is not a car for the masses. they are betting their future on the new model called the
atlantic. a brand-new bmwive series cost $57,000. gerri: exactly. i can't leave my taxpayer dollars for this kind of thing. here is my eory. tell me if you agree. the federal government, the president obama, has created a bubble in green energy. a lot of money went to it and a new that the federal government is getting involved. now those dollars are drying up and we are starting to see everybody take five steps back. as the bubble burst? >> in mid-2009 is your price certainly they deserve a lot of
the blame, but there was a lot of belief in silicon valley. [talking over each other] gerri: they wanted to do right, is that correct? >> certainly there was some of that, but let me bring up one part of the second is particularly aggravating and chaps my hide. what happens if the fiscal cliff bill. it is more the biofuel scam. it's been going on for years. they havbeen giving a a lot of this to the cellulosic ethanol industry. they have never produced any quantity of fuel, was mandated by congress, and they slap down the epa. epa has been mandated that refiners use over $8 million of cellulosic ethanol, even though
last year they produced 20,000 gallons. >> it doesn't work. >> sorry, thank you, gerri the one you are fantastic and come back anytime. gerri: the average price of a gallon of gas is up 2 cents over the past two weeks. $3.35 as the average. that is also up 6 cents in just one month. los angeles has the highest at $3.71. coming up next, a debate on the dow and whether it is sustainable. and that it's not just the green energy bubble. investors need to be warned of a bond bubble.
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the cusp of a bond bubble. investors began to turn to bonds. it was assumed to be a safe haven and many believe that too many of us have put their savings there and the consequences could be dire if rates were to spike unexpectedly. don't get me wrong, yields move higher last week, but not to the straspheric levels. they rose to just over 2% before falling below that level. many were considering, what would happen? what would happen if the federal reserve took away the punch bowl and allowed rates twice today. "the wall street journal" says that bond prices are more than usual because rates are so low. prices are even more sensitive.
it makes the price more volatile and here is the matter that according to "the wall street journal." the current ten-year treasury yields rose more normal levels. prices would fall a 17% hit. think about it. that's a big move for someone who believes that they are in a super safe investment. who wants to stick around and investment yielding 2%? if and when the economy stages this sustained recovery, the bond market could bite those overinvested in the asset class. in the past two years alone, investors of more than one chilly and dollars into exchange traded bond funds. it is beginning to feel just a little like 2002 all over again. coming up, outsourcing is on its way out.
it's like a sauna in here. helping you save, even if it's not with us -- now, that's progressive! call or click today. no mas pantalones! >> from our fox business studios, here again is gerri willis. gerri: outrage from washington today. special inspector general released a report showing the treasury department allowed big pay increases at buildout companies. these are companies that owe us nearly $250 billion. the treasury approved 18 races. aig, gm, and allied financial. the worst part is this goes against treasury's own guidelines. it is outrageous.
our stocks going to continue to go up? some critics say the game is rigged against individual investors. joining me now is stop market and peter mosely. earnings and stock prices, are they related to each other still? >> apparently not. earnings are up about 135% over the last 13 years. stock prices have been essentially flat. he crossed the 1500 line of the s&p. at first in the year 2000, and here we are 13 years later. they are crossing him once again. gerri: the expectation is that the stock prices would rise as earnings growth.
how do you explain this? >> you take certain things, yes, you can dual ungentle that out. >> 2002, guess what happened after that, the market rocketed up, earnings grew really well over that. there is a little bit of a correlation. so i think you have to be careful and i think you have to be nimble. this situation does not always work. gerri: hate to hear that because that's really the only thing that helps people. only then if they have over the process that they can stay put. they can stay study. is that just a sucker now? >> it has been for the last 13
years. even if we go further back in time, look at when the s&p 5001st cross 1000 in 1958. over this time where valuations were closer to what they are now, profits were up 40%, stocks are 50%. the question is where is it going and why don't profits drive stock prices anymore? gerri: what do you think, scott? >> if you look at the s&p 500, it's not as u.s. companies anymore. if you look at the percentage of whether companies make, there are some overseas companies. you have to look at the fact that customers are buying stuff and not is where a lot of the growth is. gerri: that is well and fine, but how does that relate to the issue that peter is bringing up? >> you can buy international companies by living in the united states.
two areas that investors can buy and over the last 13 years. gerri: go ahead, peter. >> that's the problem. i have investment in places like that. what we can find those stocks and we had very large portfolios. the ordinary guy that puts $200 a year in his ira, that's something you won't mind. causes people to lose faith in the system and. gerri: i think that is well said. >> the high-frequency traders are running the show. nothing is connected to fundamentals. certainly not stock prices. >> you can point to where it attract each other and what doesn't. but i will tell you that, here is the deal. if somebody is sitting at home trying to pick up pennies for
stocks, yes, you have a problem and that's not a good game to play and people should know that. gerri: you have the the last word. >> invokes within 10 years of retirement need to keep a healthy chunk of cash. if you are 35 or 40 years old, putting significant amounts in the market hoping it was also a time is important. i think that real estate is looking for other ways and it has become much more important than it was in te '90s. gerri: alternative investments. there is other stuff to invest. it's not enough just to be a stock investor anymore. thank you both for coming on. always great to have you on the show. >> take care be thank you. gerri: the super bowl is coming. just six days away. fans will certainly be watching a football game and a recent survey shows more than 20% watch the big game for the commercials. i watch it a little for the
drop me an e-mail and let me know what you think i firstname.lastname@example.org. if we get a good list, we were shown on the show and we will say that it was your pick. coming up next, words of warning you should here before your next cup of coffee. and it's made in america the new black? details coming up next ♪
gerri: breaking news the senate has passed the $50.5 billion superstorm sandy bill. we have talked a lot about it. the house approved the bill in two weeks and then the measure will go to president obama for his signature. the senate has passed the superstorm sandy bill almost three months to the day since the storm devastated east coast. i don't believe they got a bit of the pork out of that thing. onto other topics, would you pay more green at the product was red white and blue? more shoppers are saying that they're willing to pay more for a product made in the u.s. andrew pierce is president of this product marketing consulting company. welcome to the show. as the real deal? i know what matters to americans. my mother tells me all the time how she will buy a product. but i don't get the impression that it matters to others. >> is a growing trend. more american companies are
really trying to help differentiate them. gerri: can you tell companies what they do but they will get enact. >> is hard to measure, but i think over time we are starting to see consumers opening their wallets and pay more for american-made products than 80% of americans they that they will pay more for inmate in the united states product. >> computer from automobiles all the way to fashion and consumer products. you will see consumers will pay a price premium from a consumer may product. gerri: i don't know if you remember the story about ralph moran. everything was bought overseas. it was made overseas and a lot of people got really upset. >> there are companies like timex, a great watch company. they are trying to bring
themselves around great american values. gerri: what about wal-mart? they have been in the news for bribery scandals and it has been highlighted. are they trying to buy their way back into people's hearts with a made in america campaign? >> you cannot buy your way back. it's going to be what they do and how they actually deliver products to consumers. so i think there are a lot of companies are gettg good at this and i think wal-mart will be one. gerri: what are the elements of that if you're trying to promote yourself as a made in america producer? >> you have to embrace the good qualities. it is success in entrepreneurship and good qualities and craftsmanship. i think when they surround themselves with those qualities as brands, they sell a lot
better. sam adams beer, a lot of good american companies. gerri: andrew, thank you for coming on. i think a lot of people care deeply about this topic. >> thank you the one on this day in history, play-doh has been loved by children and adults. but not as much as egos. if all of the bricks were distributed equally among the people on the planet, everyone would have 62 lego bricks.
it was officially born today, and january 28, 55 years ago. more on waste and fraud and abuse in indiana. and have we become too dependent on caffeine? coming up next. how about bout the problem is and what it means for your help officemax knows... ...tax time can be...well...taxing. so right now we'll give you... ...$10 off any turbo tax deluxe level software or higher! find thousands of big deals now... ...at officemax.
gerri: it is a national copy epidemic. here's the libyans on america's addiction, doctor marc siegel. welcome back. >> is this a problem? you think people drink too much coffee? >> i call it an epidemic. we had a 30% raise in high energy drinks. it causes us to certain risks of health problems. your heart rate goes up from your, your blood pressure goes up, you're not thinking as clearly. weon't know what the long-term risks are. but the real risk is that you don't sleep at night. one third of the workforce
during this everyday. gerri: i think of coffee is being not a big danger. but it crosses the blood brain barrier. it's like a real drug in hat way. what are the ramifications of that? >> coffee has some health benefits we think it might decrease the risk of certain cancers. it can be good for you. but the caffeine blocks an enzyme that tells you when it's time to sleep. i have some solutions. i think you have to start differently. like you started your day by working out. i think the people exercise in the morning, drink water, have something other than coffee. exercise wakes you up.
if you don't get enough lead, did awake and exercise. it's much healthier for you. don't get used to the if you cod proper sleep hygiene, you will be much better off. gerri: i think if the energy drinks that are problematic. they are legal, but you recommend for anyone? >> no, i do not. i think that they are insidious. when we see copy, we don't have caffeine. when we see energy drinks, we think oh, look at the right label. it's just tasty.
red bull and other energy drinks are building up in your system. it is a caffeine out what i'm worried about. and you don't know what you're getting. gerri: should you limit coffee to a cup or two cups everyday? >> we know that beyond 500 milligrams is -- it's one of 200 milligrams per cup today. you risk problems with high blood pressure and interfering with sleep. gerri: so two to three cups? >> i cannot prescribe over the television, it depends on the person. but more than that, i would be concerned. some health benefits are more than that in terms of coffee. we have to figure out a way to get the benefits of coffee without having all the caffeine.
have your one cup after your physical activity and water. gerri: thank you for coming on. now we want to know what you think. how many caffeinated drinks do you consume each day? log onto gerri willis.com and vote on the right-hand side of vote on the right-hand side of the all stations come over to mission a for a final go. no go call. this is for real this time. we are on step seven point two one two. we have entered our two minute hold. cabin venting has been inhibited. copy that. sys two, verify and lock. command is locked. flight computer state has entered auto idyll.
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gerri: america has gone from the land of the free to the land of the caffeine. we drink on average three cabinet beverages per day were 36 ounces. some of us, let me come and drink more. what about you? years with some of your tweeting , @gerriwillisfbn. 5-10 depending on monday. asked me about wind. [laughter] we also asked this on gerriwillis.com. 49 percent said the 0-2, 48 percent said 3-5, and 3 percent said 101. yes, those are my friends.
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