tv Cashin In FOX Business September 15, 2013 2:30am-3:01am EDT
that's it. thank you for watching. have a wonderful weekend. keep it here. the number one business block continues with eric bolling and "cashin' in." ♪ ♪ >> eric: a warning sign for all americans. obamacare may be hazardous to your health plan. don't believe this billboard by the heritage foundation? how about this job creator? it's the latest company showing just how hazardous the law is for workers. plus, super power showdown over syria, how the crisis over there could prove we are losing the economic superpower status everywhere. then, desperate times call for desperate measures. first they supported low-wage worker now they are looking for any worker. how the boom could be a bust for jobs. "cashin' in." working hard for you right now. ♪ ♪
>> eric: hi, everyone, i'm eric bolling. the "cashin' in" crew this week -- welcome, everybody. obamacare. was supposed to help people get healthcare. it was rammed down our throats this way. look what is really happening. obamacare could be hazardous to your health and your job. this giant billboard warns americans about the healthcare law. the sign from the conservative group heritage foundation may be a crystal ball. that's because just this week, supermarket chain trader joe's became the latest company to drop coverage for part-time workers. add that to the many other companies doing the same and american workers are becoming sick to their stomach. what will it take for folks in dc to wake up and realize the warning sign has become a reality? obamacare is a hazard for all hard-working americans. so now add trader joe's to a
growing list of company changing the worker healthcare due to obamacare and many others are cutting hours. this is not what we were promised. i remember hearing it would bring healthcare to more workers. now it's fewer. >> it's destroying healthcare and also potential employment of the country. 43% of the small businesses said they delayed hiring because of obamacare. 20% cut employees. another 20% cut employee hours because of obamacare. we have mentioned a few of the companies there. seaworld, lands end, trader joe. circle-k. subway franchises, all over the country cutting the workers' hour, cutting workers because of obamacare. it's force. it's force applied to healthcare and also to employment. that's what even after all of this intervention we still have unemployment above 7%. it will stay there as we become a european style socialist state under obamacare. >> eric: smitty, one thing if you mess with my chalupa.
taco bell may cut hours. wendy's also. but if you play around with companies like delta, ibm, kroger food, you are talking major employers. >> what bigger message can be sent to washington than private enterprise saying we can't afford it, we're taking it away. that is a primary concern in country right now is jobs. what is happening now is the retailers are going to have a tough time finding cheap labor. how many people do you know go get a job like working at trader joe's as a cashier just for the health benefits? that is going by the wayside. the retailers are going to have to start forking over a lot more money just to get through people through the door to work. >> eric: julie, it's all about the job. all about people looking for healthcare. >> so now the trader joe's employees will no longer have healthcare through trader joe's, but have the same amount of money. some pay less and some pay
more. this will allow trader joe's to make more money. this is good for trader joe's and not bad for the employees. i don't understand. you are talking about, jonathan is talking about the massive free mart is bad for businesses. this is great for trader joe's. they've opened dub >> eric: hold on. hold on. let's do this. point out that trader joe's gave a statement. telling us that 77% of the employee won't see a change, for the remaining trader joe's crew members working an average between 17.3 hours and 29.9 hours per week based on the calculator provide through healthcare.gov. we estimate over 70% of them will pay less for comparable insurance. >> thank you. thank you. >> eric: trader je's says 77% won't see a change. >> what is interesting to me, afl-cio convention they have in los angeles just this last week, you had two major guys, ed hill of the electrical
worker union. terry o'sullivan of labor international. these guys came out against it. th is not from the right wing. this is because it's destroying jobs and the union people understand this just as well as the people who are employers. so the employers and the employees and people with a selfish best interest, this is not serving anyone's best interest. >> eric: i have to i gree with wayne. the unions are saying this isn't a good deal. >> i love that you are talk about the this as we had trader's joe the employer talking about that is great for is workers, great for them and their bottom line. i don't understand. you won't believe trader joe's. who are you going to believe? if you're going to always pick your mantra, i don't understand. trader joe's is saying it's great for trader joe's. >> it's easy to believe that -- [ overtalk ] >> eric: guys, guys. john. please. >> workers who are having their hours cut, the employers are cutting jobs.
it's not great for any of those involved, julie. it's not great for the economy at large. obamacare is force. force is opposite of the wealth creation. you won't see new jobs created or major innovation under obamacare. this is a hindrance to free market needed in this country. a long list we provide, not indicktive of whadicktive -- inf what will happen under obamacare. >> you have 2200 pages of regulations. nobody can understand it. people are trying to. they go out and they are spending the taxpayer money to hire people. to explain it. the people who are hiring don't understand it and congress who voted on it never even read it. >> eric: they sold us the healthcare plan and said the estimate $938 billion. it's up to $1.8 trillion. troubled what they promised. >> showing that less people will be covered when it was promised that more people would be covered with health
insurance. bottom line, the argument that trader joe's -- what might be good for trader joe's, according to the statement. this isn't reality yet. it hasn't been proven. might not be good for the other retailers or the other restaurants or the other grocers of the world. this could have a long-term hazardous efect the economy in this country and the job market right now. bottom line, that should be the concern of the government right now. that should be the concern of washington. no providing healthcare. >> if you are a large employer, major employer and the only people forced in the mandate are the large businesses, the vast majority 95% are not under this. but if you are a large business, one of two things. you either provide healthcare and you will continue to provide healthcare so nothing will effect you one way or another. if you decide to get rid of healthcare for the part-time workers those workers -- by the way, any worker could do it today. they are not mandate to keep employing anybody or keep give healthcare to anybody. those people now have a place to go. they have healthcare.
>> the open arms of government saying c'mon, come to us. this is what we wanted. >> no, i mean -- [ overtalk ] >> eric: jonathan? >> if only large employers are affect how come half of the small employers say they delayed hiring because of obamacare? >> eric: let him finish. >> well, it's affecting their hiring potential and the way they run the business. it's affecting the economy overall. you only like to look at what you see the net benefit. you don't look at the cost. the cost is burdened not by the individuals but by the employers trying to create jobs. >> eric: we got to leave it there. this could go on for hours. coming up, obama versus putin over syria. is this stakes, high-stakes battle in the middle east more about the economic superpower than the military might? vegas.
in world, bar none. we know. that should about we get back to focus on the economic strength? >> thank you. to the energy king himself, let's focus on getting natural gas out of the ground here to liquefy it and sending it over to china. what are we doing here? we need to find out a way to make china dependent on us and convert their dollars to our dollars. >> eric: john, globally, we rank fifth now in 2007, 2008. we were first on global competitiveness. not only, that economic freedom. tenth. sliding on just about every economic metric against the rest of the world. there is not a difference in water and new york and pyongyang or new york and havana, cuba.
that created a superpower status. it was before the federal reserve or the minimum wage. or superpower status is established before that. to get back to the status, return to principles and the ideals. with this president we are going in the opposite direction. >> we are getting it back on the economic feet. >> i'm not sure that it has that much to do with how you registered with the rest of world. the peace of the world was main taped 1815 waterloo to 1914 world war i. but by people who understood balance of power. we have a problem in middle east. if we could play one of those people off the other, negotiate between one and the other. if we could recognize what the selfish be interest are and
utilize that, instead of using the military power with a threat, that is what we need to do to position ourselves with the rest of the world. >> we tax our people two have, we tax have a lot and give have-not quiet a bit. we are sliding economically. is this a bad policy? should we guess back to capitalist society >> if you look the countries, one, two, three. as much as we were or britain, that is why we slid from 2018 the crash. there is a great point. i will agree. we need a robust diplomacy. we need to play these people off of each other and do what is in our national interest. >> eric: let me do this.
we rank 25th against the world. in reading, we are 12th. education society, economic freedom. we are heading the wrong direction. >> we need the fantastic schools to do a wonderful josh enkating the kid. they are much less restrictions, or how long congress or business friendly climb. that is not a country's natural resources or the military to create wealth. it's a principle. i don't know if you want to move away and go toward the european style socialism? they have 28% unemployment in greece. >> how did you know? how did you guess? >> what is the alternative? >> what is the alternative? move away from capitalism. you're putting words in my mouth. all i'm saying is you are agree with wayne and what everybody else is saying yes, we need to double the effort to get the economy back on
track. >> when you do obamacare, it's a socialized medicine, is it not? >> well, it is. there are things that are -- obviously, we need to rejuvenate the economy. we only need, we have had 4-1/2 years of obama. we are still above 7% unemployment rate. 3 the facts. we have to deal with facts. rejuvenate the economy in many ways. yes, capitalism is something, because capital schism brings us freedom. we know that. we have to insist on that. at the same time, you have to use your selfish best interest in diplomacy to get the best you can out of it. the proof of that is in history. just read it. >> eric: very good. we will, wayne. good advice. sound advice. coming up, forget protesting. inviting nine union workers to team up with the union bus some here say the new membership drive to drive
thank you orville and wilbur... ...amelia... neil and buzz: for teaching us that you can't create the future... by clinging to the past. and with that: you're history. instead of looking behind... delta is looking beyond. 80 thousand of us investing billions... in everything from the best experiences below... to the finest comforts above. we're not simply saluting history... we're making it.
>> eric: big labor making another big push for members. so far this summer we have seen protest for the nonunion workers and now the afl-cio announcing it will open its doors to any nonunion worker. jonathan, we have been seeing a summer of protest. this is bad for all workers. how so, sir? >> to the extent they join the unions it's bad. unions are pai parasite.
they need fresh blood to keep them alive. the union membership is half of what it was on the 1950s. we know what they have done for the companies employed, the hostess or the textile workers long shoremen. they are looking for anne to sign up. given union membership trends, i think they are likely to be unsuccessful for a good reason. >> eric: john pointed something out. in the last 45 years the union membership consistently with very few exceptions every year, they have lost membe membership. >> go to town. you're all for business decision, this is a business decision for the afl-cio. bring in more members to create more money for themselves. create more action for members. >> they are no longer representing the workers. they represent the political views. at the end of the day they are asking for a lot.
giving back very little. i don't hold them as accountable if for government who has not sponsored the jobs in this country. they are not working. they don't have anywhere to go. the policy in the country is not help create jobs. not a business-friendly administration. >> wayne, i guess julie is right. you can't blame them for trying. they will take any workers. what does it mean? any worker nonunionized will pay dues to a union? for what? >> that is the idea. whether or not it's a viable idea is yet to be tested. i don't think anyone will pay a union leader to represent them politically, which is what they are asking. they are not doing anything for the worker. we don't have it anymore. the viability of a union is not what they used to be. there is nothing left for them to do. they are out to perpetuate themselves, they are leaders
and trying to get as much money. just like a lobbyist. the lobbyist essentially. >> eric: right. it's a political lobby. unions -- that is their useful, you talk about the useful idiots, that's what they have become. >> unfortunately, not just lobbying, but being granted monopoly power by government. nobody wants to argue against anyone's right to advocate for the principle or position they want. whe the unions have gone astray is getting the special favors, granted by the government. we know -- any number of the businesses, the industry airlines, automobiles for which the unions have been involved. i can't imagine why. i'm not surprised why most workers are saying no. >> eric: quick thought. >> wall street deserves a lobby, gun owners deserve a lobby but not unions? c'mon. >> whoa, get the lobby, not special favors. >> they represent everything and overall percentage of the workforce -- >> 11% for union membership.
market is doing. long-term, look for the biotech. >> eric: very good. little risky there. go ahead, john. >> africa. this is a hot destination. afk is the exchange traded fund i'm looking at now. this has financials. >> we have to leave it there. i love that song. that is it for cost of freedom block. thank you for joining us. before we go, they call two democratic lawmakers this week. president of the colorado senate, john morris getting booted from the legislature. they are expanding gun control laws. colorado is a blue state. something interested happened in colorado. something the democrats in 2014 might take note of. don't mess with the second a.m. we have a right to bear arms.
try to take that right away and do so at your own political peril. have a great weekend, everybody. see you on "the five." do you remember when our embassy staff was taken hostage in tehran. without firing a shot hostages released the day ronald reagan was inaugurated. how important is it to have the right person in the white house? we're talking about strong leadership with herman cain right here, right now. thanks for joining us. the iranian hostage crisis was a long time ago but are there lessons to learn from that. a lot of time has passed but once again we
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