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tv   Cavuto  FOX Business  June 25, 2013 11:00pm-12:01am EDT

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od. lping the world keep promises. neil: here is when you know you are a fool, when everything you doakes you look more foolish. i am neilavuto, first off thank you to my friends lizzy macdonald and charles payne who filled in while i was gone. countries that feared us, louvre at us -- they laugh at us, they almost toy with us. today putin bragging bout now nsa leaker was seen assault saunteing around the moscow airport.
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are you kidding me. iecuador wants in. they have another well-known leaker, we have gone from super power, thumbing their nose as us to two-bit border line third world quasi-democracy, who are not global champions of free speech testing us, talk about a hell of hat trick, no wander they are laughing, when president picks today of all days, using a speech i georgetown university to outline a blizzard of environmental rules and regulation that all but stop fossil fuel in its tracks. you wld think they wouud tone it down because we still buy a
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lot their cra emore of their crap flan an than there other cy buys their crap. chinese banks are ones in troubles these days, not ours. and also last time i checked ecuador depends on american consumers, that ule us -- that would be us, i don't know how this snowden drama plays out, i know we're a joke, don't know about you, i'm not laughing. are you? what is they say about biggers s can't be choosers that does not mean we canan't show guts, whene do china still can't help but be in its proper place now and then. to retired lieutenant colonel ralph peters.
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ralph peters, what do you make of this? on the same day? >> well, overall picture is straightforward, americans want to beloved, that is nicice, to e a super power, you have to be feed. you don't have to kill everyone, but you have to know what you say something, you mn it no world leadersav any respect left or fear of president obama, he huffs, and puffs but h never blows the house down, putin, vladimir putin, who has a deep is thais that daviddic -- streas just having the time of his life with ts think of putin, a nasty schoolyard bully and oba is the skinny little smart kid with big glasses with a arm full of books, and putin just enjoys thumping the daylights out of
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him, and obama keeps crying saying, we're still friends s. we're still friends, obama as hal most destroyed -- almost destroyed the image of the u.s. in the world toe taken seriouy. neil: we have begged and conjoeled china, we got in a possession of beholden to chinese t always on defenseo your point. now the deed is done, bed is made. and they are laughing, what do we do? >> i think there is a number of things, they have a liqdity became evident this month, we've seen a number of incidents, chinese are quite vulnerable now, i think all it would take is for obama to make it clear to the chinese, weadock a number of
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things we could stop all technology transfers to china, all acquisition of u.s. companies by chinese company, and maybe deny visassa china. neil: our fears, they say, oh, you see that debt,e're not going to buy more. >> they have not been buying chinese debt for 17 calendar quarters. >> japan has eclipsed them. >> you know, debt that we issue in our own currency, and it has fixed mattty. -- maturity, they have to sell the stuff in global markets, then it would have all sorts of consequences that end up our debt held by our friends like france, germany and japan, and
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chinese out of i all together, which is why they never exercise the nuclear option, which is selling our debt. neil: we are afraidf them. but we're always on defense, and always skittish, what o we do? >> first, the thing that amazes me,s that the domestically, obama and chicago gang play hardball on every issue. neil: not with the chhnese. >> i'm saying, that is mestically, off the shore ty are superhimps, no guts, no courage, and by the way, obama we're very limited with russia obama already sold the nuclear crown jewels, and he wants to give more away, we need russia, we have mar mor more equipment n
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afghanistan, it h on come out through central asia and russia, we make russia angry, they close down the supply routes, obama never had an integrated coherent tragedy, now we' at point where ecuador is thumbing its nose at us, younow i hope some people that initially lionized edward snowden, t nsa traitor as a patriot and hero are having some buyers remorse, he has done to china, russia, on his way to toecuador. neil: thank you very much. forget whether snowed sene hero sense en is a hero -- snowden is a hero
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or a hac why can we not find the needle in the haystack? rebecca, said, if you think this overreach is shocking the bluntedders of our government are more shocking. >> you know we had some issues where his passport was revoked after he got on a plane from hong kong, chinese government? we don't know we let h on the plane, you dn't give us proper paperwork, wre say, that is t true, but it is not adding up. it is not adding up, where was that paperwork? what happened to it? how could hong kong government -- >> do super powers need paperwork. >> they say we need the paperwork. neil: i don'tuy it. >> i know. neil: you are super power, you know get his ass over here. >> they done fill it out, with our extradition treaty, wi
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we extr ex extradite peopl >> maybe we don't want him back, maybe we want to go after small domestic people, but someone like him we don't' back. >> he will reveal is over there. >> that is whatoes not make sense, does it? does not make sense he goes from hong kong to russia now in transport area of the russian airport, it does not make sense, he m go to ecuador. they have given assange immunity, he has been there for months. neil: the brits want him for raping t separate girls. >> he has not stepped out because ecuador has gnted him
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that immunity. neil: what could we have done? >> otherer governments, hong ko, scow, saying, we did not provide the proper paprk. we did not -- >> i do not buy that. >> i if that is the case. neil: if you want him, us pick up the phone, say, hey, vlad, i can call him vlad. >> maybe you should step in. neil: they will get rock between us. >> i think that is point that colonial jus made,. neil: they just laugh at us. >> nobody cares if thing rocky, the other world leaders, they don't feel really the necessity to respond. il: would they have been different with presidentush or bill clinton? you know this whole, piling of our debt, and our worse economic
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straits has it affected our whole image? >> there is an argument. that it is debt is an argument or that it is obama that reducee our image in the wor politics arena, people do not respect him. if there was a mutual respect this man would have been sent back notwithstanding the parwork, this is the parg. argument. neil: powerful words, no power. >> you wonder if they thought there w was a actual threat maye they would have sent him bac had we responded properly during the admistration to their needs issue theseeare all things that happened. neil: you are a great lawyer, but some someone tel me that an international crisis is a logjam because someone did not fill o a proper form -- shame on us. >> shame on us is right. neil: thank you rebecca. >> so turns out that irs was not
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just targets conservatives, leaving aside number of more progressiv groups is smaller, worry more about an agency that targets anyone, any time, and that its reach is getting bigger clients are always learning more to make their money do more. (ann) to help me plan my next move, i take scottrade's free, in-branch seminars... plus, their liveebinars. iand my local scottrade officeto guides my learning every stepf the way. because they know i don't trade like everybody. i trade like me. i'm with scottrade. (announcer) scottre... rankedhighest in customer loyalty for brokerage and investment companies."
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neil so taxman goes after liberals too. the timing of the revelatns, jay is from american center for law and justice, represes conservative organizations suin irs, better than 40 of them as we speak. what do you think of this charge now progressives tarteoo. two questions, why does that matter? >> it doesn't. it u.s. is not matter. i have not heard of these groups by the way issue no one has come forward. neil: that is what i'm saying. >> not one has come forward. >> they have not come forward, only leads ni believs me to bele
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are no that many of them, how does that negate what irs did? how does that somehow lessen the oomph of this? it does not, we filed a amended complain. it challenging the process applied to conservatives or liberals we're sayg in this lawsuit, representing front group, added causes of aion is process is flawed fm the begiing, they offered this ex thaexpedited check outline, if u agree to sign under penalty or perjury, that 60% of your -- is not political, that is not a test, they are tries to put healing ointmentment over a wound that is gashing,hey need
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to comply with their own rules and regulations, they can't, because they don understand it, that points to the unconstitutionality of it, i am representing groups that are not tea par groups that were swept up in this as well, they just have the word liberty in their name. neil: i am wondering about words that did come up in this database search, included occupy, and groups with that type o terminology. you know these groups were not friendly to president obama. so, cynically, i could say, that they did indeed target groups that were not let's say pro white house? they may not have been conservative, but they wereot supporting the positions of the white house. you look at the estreet group with so much difficulty, pro-israel organization, contrary to the administration.
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and they were targeted, they are not a quote conservative grouu, ey just happen to adopt a policy that is dvd from the white house -- that is different from the wte house, in net of broader still people that were %-position, that does not make t better, that makes it worse. neil: thank you, jay. remember jon corzine? remember jon corzine? let's stay, he is royally [ male announcer ] the mercedes-benz summer event is here. now get the unmistakable thrill and the incredible rush
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neil: what happened? as if making chris christie a household name was not a tough enough pill to swallow, now jon corzine with another tough bill to wallow? could be. may have played a role in directing customersrivate trading funding to bailout t
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beleaguered investmen firm, charlie gasparino has been following this, talk about a fall fromoldman grace. >> a year and a half ago we pointed out highest not going to days criminal charges it was easy to assess it would be i have civil charges, the change that it looks like they are settling on, not a done deal, he is not charged yet. they are possible. it looks like they are moving at way is weak team, stuff that fox, network was uncovered two year ago, two weeks after the implosion of mf global, we wanted, how jon corzine has lacks controls, that were prevent comingling of money, and use customer money to finance
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ongoing operations in case was there a run on the bank. neil: is that illegal? >> it is not illegal -- just if you are a securities firms, and you are regulated, you are supposed to have those controls, if you don't have those controls, they can ding you, i think that is we're is going on here, rudy julian aagrees this is pretty wk weak, two years after the fact, a civil ways of failure on supervise, or to have the right systems in place. neil: but, civil events cost you, how much money does he have left? >> he went through a lot, he rried well, from what i understand. i don't know if theyan throw youut of business on this, th is not a high 10 b5 as it known,ivil fraud, you have to show if they bring a case, maybe they have this, i don't know,
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intens recklessns they can get a very high fraud charge on a failure to supervise. neil: what do may need? >> he is going to say, i know this, this is what theyold me, we were moving in that direct, taking the steps in that direction to ensure we had the correct systems, they will come back, say, you don't move fast enough, it hould haveeen in place the day. it is not a bad bet, he made a good bet, but when market got wind o this bet, he bet risky european bonds, two yr bonds, market was worried, this might put the firm in jeb dee -- jeop, people started pulling their
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ney out, the money he had from customers was being used . >> what happened to him? as a co-chair of goldman he could do no wrong. then -- >> if you look at his wall street career, and his political career in a diaper context, why did he get thrown out of goldman? he did, he took bets, he did things that wereareless, he had a long string of doing things that partners at goldman did not like, including engaging merger discussions without alerting the board, in the end risks the term's balance sheet. he got ousted from goldman, he became new jersey senator and governor, as governor you can make a good case he was recess with the bget could and spending, not a great ecomic
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stuard of that state. that is why chris christie came in and beat him. neil: despite all of the fat jokes. >> yeah, he had a lot of money. neil: do you remember that. >> yeah the fat jokes, and obama, he is close to president obam why did it take two years to bridge these simple charges that took fox business network two weeks after the implosion to figure out. we reported this because people looking at the books after mf global imploded, ty tried to sell it, they knew it was a mess. neil: they have to prove it was a deliberate mess. >> i don't think it would have taken two yea to bridge simple changes, i wonder, what else is in? is there a political motive? i do not believe that jon corzine a wanted to lose people's money, i know theuy a ttle bit, i don't think he is a crook. neil: interesting. >> an interesng story. neil: i look forward to it unraveling. >> he is very zen these days.
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neil: well hoo team skad to a championship, their team is skating on a dis-- the 7 state is stating to a disaster, a combination of budget cuts and tax increases that be ice a recovery hopes, it is not the fans' fall, it is t public union's fault. e blackhawks delered, the ions did not. >> wn you think about this, it is the pensions that unions have negotiated over years, and retirement beneffts hat have driven il illinois to the brinkf bankruptcy, illinois is not alone, we heard about read about detroit, stockton, california. very similar situation. neil: in those cases, unions
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budge, they didn'te it but they gave up a little bit, for future retirees, they changed to you know defined bbnefit plans what have you, it has been tough sledding in illinois. >> to met seems that illinois politians are spineless they have dealt with this on 10 occasions or more, they have kicked can down the road, they ve not had a truly balanced budget in last 10 years. if you look at what vendors are waitin for now this terms of time i to get paid, it is over 0 days, illinois has a critical issuehey need to deal with and quickly. what happens here is in the final analysis, it cost every taxpayer thats those who pay taxes, it ll cost them more. neil: other unions he taken
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future generations to make contribution plans, which were -- it is a tough sell in illinois. eveny minor tinkerings and adjustments t not do the chris christie approach, to tell union households, if i don't crect this now, non of you are getting squat ever, they don't make that pitch in illinois, as result they never resolve it. >> or the governor walker approach, look at wisconsin, h had the guts to take on the union. it is hard to do? very difficult to do. neil: they make you a villain, and hitler. >> it h to be done. and i think more and more, my prediction is that we are going to see the plic support like we've never seen before as we approach the brink of bankrupy -- neil: i hope you are right, i represent the heck out of you, but i see number of states and
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municipalities playing games with bondholders like in detroit they try to screw them, pennys on the dollar, i'm not saying that public workers are all wiout blame, or credit. the same as n saying all investors should escape this but everyone has to take their pound of flesh, but to tel investors, you are payingor this, is sends a equal dead signal. >> think about. case of illinois, where politics are so have yu have -- have unin so en grained, they make promises that make the union leadership happy, more uni dues, more firemen, we have to break the mold. neil: if we don't? >> bankruptcy on the way, i tell you, i brought -- draw analogy,
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with wha is happening with fedel government, how many fiscal cliffs have we almost flen over, and we precede on idea we don't have to solve them now. >> put off. >> federal government will face a similar problem. neil: they don't listen, danny thank you very much. >> thankou, neil. neil: you think that housing is off to the races. meet the guy who says you are off your rocker, he is not off your rocker, he is not buying but he is at od, wtever business you're in, that's the business we're in with premium service like one of the best on-time delivery records and a low claims ratio, we do whatever it takes to make your business our busineness.
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od. helping the world keep promises.
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neil: well be it ever so humble ere is no place like home, when it comes to recovery there is nothing -- home prices. are you buying? we're blitzing, with garynd todd. this case-shiller data shows
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housing h or hotter, you are in? about sell, simple as that. neil: wow. >> back in '06 we talked about a housing bubble. we have a crash, it was enabled by the fed with easy money policy, now this is easy month policy times 100. they are flipping houses, this is the type of the activity and greed that usually ends poorl interest rates get normalized, it shaping, you will see a chairman -- sharp slowdown. neil: i respect the heck out of gary, but i do not see that willy-lly over frothy housing market storm, what youo see in. >> i have to agree with you, usually i never like to disagree with gary, beeause you will be wrong, but ts time, i think he
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is a little early, you see recovery in housing like every other recovery in our economy, slow and poor, not strong. but, you do see a recovery. i think this a couple years, three to five, i think that interest rates will be a huge immediment. but right now we're still in recovery. >> quickly, gary, do housing stocks --o they precede a fall off or a connectioned? >> i think it is purely interest driven. -- purely interest rate driven, lennar game out with gangbuster numbers today. >> all right, her is a possible fly in gary's housingoom ointment. it continue month-to-month if so many of us are livg paycheck
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to paycheck, 3 out of 4 americans are, most have not p aside minimum requirement of ree months of cash reserve to prepare for that rainy day, that is not good any day? >> a stunning number. it tells me that not enough people are listening to dave rams, and talks about living within your means burke about job market. wages are not that high, you add it up altogether, and you went up with this situation, i can not imagine having $100 in your pocket if something goes wrong. and there is an emergency. neil: i would have thought by now we would not s 3 out of for americans in hat kind of a pickle. >> you wouldn't but this has been such a terrible recovery. this is the worst recovery on history since world war ii. you have to go back to great depression to get a worse recovery after aajor financial catastrophy.
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people, wages have not increased. you will see downward pssure on wages, if thisew immigration bill goes through, workers are n making salary increases, they are not saving for their future and living stilllbeyond their means, because they have credit, credit is still easy in america. neil: issue 3, more economy food for thought, more food or less food, olive garden pushing pit and pasta, testing smaller platters as well largely family platters. ed ttodd? >> remember all they had to do was offer you endless bread sticks. neil: it worked for me. i ordered nothing else. >> you know, the diet is
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changing in america, have you pailio dt, skewing flower and -- flour, and wheat-based goods, it good they are innovating and changing up their menu, you have to change tourvive in today's rested rest economy -- restaurant economy, your restaurants that were around 30 years ago anot around today, an example steak and ale. neil: gary? >> the people at darden are some of the smartt restaurant people, they know their customer, they are doing right now is recognizing that pce and portion counts, they are tinkering with it it a test market, i tnk it will roll outgoing forward. nothing wrong wh food how to deal withrice with sh a big
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competition in restaurant industry, if you do the no change you will be left behind. il: lk at this dude, that guy. that looking lik a cheap guy, the guy at table. that looks like a cheap date right there and she knows it, she is into it just breadth -- bread sticks honey? neil: carnivallas alive and well after that ship hit the fan, rnings better than expected but cruise line forecast, drop in bookings as expected. still gary, i would havehought that numbers would have you know been crappier. >> i want to know who wrote that? neil: no wise comments. >> carnival is a good cruise line, they have had rough waters over last year, bookings are downecause of it, as you get father away -- farther away, the
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cruising industr is huge right now, people love it, i expect things to get better goi forward as long as economy stays okay. and pces for gas do not spike up. neil: todd. what about their numbers, i was expecting them to be awful, they were not, the for forecast of te guarded. >> discounting, discounting. >> bingo. >> get those people in the cabin. they are having a slight management shake up. the ceo of 34 years, he was ceo when jimmy carter was president, is is steppg away, he is going to be a president of the board. they like it. the currenteo did areat john, h job -- great job. thank you both very much.
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>> all right, so, you wt to leave your union but you afraid some guy nam louie will wan to have a personal chat with you first. well help is on the w, next. you hurt my feelings, todd. i did? when visa signature asked everybody what upgraded expeences really mattered... you suggested luxury car service instd of "streng training with patrickillis." come on todd! flap them chicken wings. [ grunts ] well, i travel a lot and umm... [ male announcer ] at visa signature, every upgradedxperience comes from listening to our cardholders. visa signature. your idea of what a card should be.
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neil: someobs, it comes with the turf, you want the paycheck, you pay the dues, many worke forked to join -- forced to join unions as a condition for emoyment. what if it was not a condition? there is a way, the guy trying to make it possible, part of
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nationde initiative among 60 groups in 35 states helping workers who feel locked in to opt out, colin, how does this work? >> thank you neil. this is nationwide campaign to inform those worrers they have rights. to leave the union, we tell them thousand leave the union, and where else they can go to get professional maybe benefits -- membership benefits, many teachers andies do not kno they have tse rights. neil: does it become a hostile workplace? the union guy will always tell the guy who tries to bolt, that is a fine thank you for pay deals we're helping you score, and nice increases and benefits you get, now you are not paying into that union that helps provide it. >> it can happen, it does take courageous soul to leave the union, for all money you are taking out of my paycheck, i would like to go somewhere
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else,y think that americans have that right, under law they do, bu many do not know how they can get out or when they can get out, they don't know how to navigate prost. neil: this is legal, a lot of people who pay into unions, see their eye-popping salaries, and money that goes to let's say largely democratic campaigns, they just say, i want out of this. but there is hell to pay iffy this think about it, how do you take the hell out of it. >> before the hell to pay, many do not know who to ask, they are uncom forrable going to colleague or represent. y freedom week -- employee freedom week, they can go and find out what their rights are. get better rults, union can pride better svice to those who want to stay in it. neil: colin, one thing i never
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understood, contribution from union, lion'share, wen to democrats, and i'm thinking, there is no way close to 98% of union households are voting for democrats. i know in my home state of new jersey that chris christie, a republican governor is popular with union households perhaps not union leaders, so there is a clear disconnect? >> true that disconnect exists because employees do not know they he those options, this effort was started by nevada policy research upstute, ask associion of american educators to make sure tt teachers and other employees kn about these rights to starts exercising them, we conducted a survey for national employee freedom week up to 33% of union households, would lik that right to leave the union, that confirms your point. il: unions cnter, we don't
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have that same right in the right-to-work states. what do u say? >> unions say a lot of things, their concern is theyan't have 100% membership with less than 50% satisfaction. those who want to leave will leave, the union operation of keeping this a secret or making this difficult process is preventing them from serving their member list from giving them what they promised them for all of the money they take. neil: let me dide. if they want it fine, if not that is fine too you go piv them that choice, thank you very much. neil: you know now i know why they call is climatehange if the folks pushing it don't get their way, they change their rules to make sure they get rules to make sure they get their the most free research reports, customizable charts, powerful screening tools, and guaranteed 1-second trades. and at the center of it l
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on this he is very consistent. with his regard to climate change, he is going through with or without the government. jedediah it looks like we're in for storms weather again talking about jedediah bila, and dan and -- i don't know if that is the case. >> you are presuming a lot of stuff there. >> terrific, jedediah? >> i am not surprised he told us he would do this,e made climate change an i important issue from the sta, he said, in the state of the uon, if i don't have support of congress i will make it happen and wayy peoplehould not be sprised, when he is faced can congressional resistanc, he says, we'll override them.
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this is going to hurt the coal industry. neil: dan, one thing he wants to do is, cut emission sndards on coal firing plants, that coal argues will kill it in its tracks. >> yeah, it is simple, world runs on energy, united states has a huge economy they use a lots of energy, we useless and less because the economy is not doing so well but we need it. when you driver the price of it up, it hurts the economy, not only to you hurt the sources, the coal and communities that rely on that, you heart people that need -- you hurt people that need electricity to keep their lights on, they drive the pric higher, that is what he promise inside 2008. now he delivers.
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neil: you have to worry about whether the utility bills go up. >> under this president, you had more frackinghan never, natural gas drilling. all-time high, you can't say that president has been bad for energy, look, here is bottom line. neil: gas prices are higher once he stepped into office. >> aot of that drilling is o havhaveprivate land. >> if you believe global warming is an issue, and i to? i do. find me a number that disagrees with that issue, 97% -- >> how about t -- >> a lot o people disagree. neil: 97% of like minded people. >> yeah. of -- >> all right, let's not digress,
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you are wro on that, finish this silly point. neil: if you look at global warming, it has been happening. >> we have to do something. >> i ourselve rather my kids lia country. neil: it all depends on that day with my kids. jedediah where is it goi i mean a lot that, there is a procedure for getting this, that is going through congress. not circumvting congress, and rifling through executive ders. that way to get their way in environment, they give it a pass. >> that is what he does, he does that on immigration issue, and he does that on the economy policy, that is his tactic. neil: he says they won't find common middl ground. >> this is not commo middle ground that i going to destroy the econo of a lot of states,
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and union jobs. >> better fuel economy and industry, and involved over ars, deces -- we came out okay. >> i say there is never been as exhaustivend comprehensive a program he has putogether, president should have done this 17 years ago, that is when temperatures were ising according to all experts now agree,ncluding u.n. that the temperature have been static for 17 years, you know maybe some differerent is happening, who knows they don't. neil: l right, there is a issue of how much we could afford, auming the issue you point on too is real- 59 t poino is real. i qualify thank you. but having said that, i was
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wondering, how poring good money after -- pourie good money after bad inie grren technologies thae up bupkiss. >> thesbupkis >> we have not? >> hello, solyndra hello. >> the governmt has always invested under the presidents. neil would you say the way it is invested and companies and or technology it has invested in, have not panned out. >> no, look at -- >> average number of jobs we have gotriend this, is a fraction of what they said, if base on t -- >> if i told you in 1978, that thing cled internet. neil: that isot that. you knowt not that. >> how do you know. how did you know that internet was going to apoint to anything. neil: i knew.
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>> why are you here. neil: i want to serve america, hello. >> government is investing in thing thanks not stand the test of the free market their own. neil: that is what i fear. >> like highw system. >> no, the clean energy project. >> only thing that is happening that is good for energy that is happeningn pray ve the private sector with fracking, he talks about investigating to see whether we should stop fracking, what happens is that government great picking winners and lose erring, all it picks is closures, come on this is more of t se government growth. >> house is passing bills -- >> neil: weon't have any pre more time, we' hear from someone tomorrow who has n been anywhere, we hear frommio john
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john mcafee this. tte gdp first uarer 2013. >> i am melissa francis. here is what is money tonight. president obama fighting climate chae. but one industry is doing a victory dance and it is not leasing. plus, get bend the wheel of the car of the future. groundbreaking technology making even the worst drivers look good on the road. we geta first-hand sneak peek. and who made money. one of the strangest in recent memory. not sure w it is? we will have the details.


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