tv Forbes on FOX FOX Business May 3, 2015 9:00am-9:31am EDT
overall, find its ground or what? >> i think in the long run it's still a great play. >> i agree. extraordinarily resilient. don't try to guess the top, stay with >> adam? >> yes. >> that's great. more after this. before the riots broke out in baltimore this week postings broke out on social media to quote purge. that's the name of the film where all crimes are legal for a 12-hour period. now some here say we need to start monitoring social media better to help find violence like this. are they right? hi everybody. i'm elizabeth mcdonald. welcome to "forbes on fox." let's go in focus with steve forbes. police did hear about this quote, purge message. you say it's why we need to pay closer attention to what's happening on social media. explain.
>> well sure the police should have the same tools that ordinary citizens have. that includes social media and technology is moving at a very fast pace. i think tomorrow will be cameras and drones. all of this is good. but it really kind of obscures the larger message. that the lack of economic growth in this country since the recession and particularly in places like baltimore has really created the conditions for this kind of an erussian. it's very sad. >> yeah but the social media idea we know that cops have been doing this for some time. what do you think, do you think it will work? >> look i think they had social media that told them there were going to be riots. some people would say they even went too far, they incited the riots because they were so prepared because of what social media told them. the fact is that this is just a form of communication. we can't let this be a distraction from what the real story is which is why we have these riots.
it's because of an absolute failure of policies in these urban centers. failure of policing. drug war gone awry. so there's so much talk about. >> here's the thing, we've got, you know cops in cincinnati using social media to basically disrupt gang related brawls. but the other flip side of that is we also have cops going on social media to stalk ex-girlfriends and we've seen that break out in a number of states across the country. where do you come down on this? >> well i think, elizabeth, i think back to what rich was saying i think it's almost a broader technology question. the cops need to realize that they're being monitored by people on street who have iphones that are taping them. if you look at the cia and the fbi, they have analysts back at their offices that are monitoring cyber security and social media stuff and they're now saying that the people out on the street like they all need to be spies and agents.
it's kind of a broader technology question they need to be on top of everything. >> do you think this is a good way to go you think it will work? >> the key thing is how you use social media. they had plenty of events warning there was going to be trouble. they didn't act properly on it. two, you have to be very careful. there are a lot of figures of speech. you see a bad ball game. oh i'd like to kill that pitcher. you don't really mean it. most of the time they don't act on it. if you have useful intelligence like with gangs, you know how to interpret these social media messages you can act on them. the key thing is judgment. >> that's true. john people go on and have a lot of twitter tantrums all the time. twitter squalls. people tend to be in a permanent state of outrage on social media. it's tough for a cop to basically parse through that to see where the serious violence could come about, right? >> oh, i agree. i think this is a really bad idea. it does not speak ill of police to say they're not skilled to
figure out what's being said and what it means on social media. most of us couldn't do this. baltimore is news precisely because it's so rare. and so if cops start policing social media, they're going to be arresting a lot of people who didn't have violent intent in the first place. >> you have an interesting idea on how you don't even need social media. what do you think? >> let me start by saying i don't want the cops spending their days wiling around waiting for something to happen on facebook feeds. what they should be doing is everything possible to make sure that they give the residents and the store owners of the poor areas of the city the same security that the prosperous areas take for granted. start by stalling 1,000 video camera cameras. >> we didn't have video cams ra in this situation with freddie gray in the 45 minutes he was in police custody. rich here's the other downside to social media. watch what happened with the woman in atlanta, georgia. she posted on her facebook page
quote, kill white cops. she's saying starting now. all black people should rise up and shoot at every white cop in the nation starting now. police arrested and charged her. and they banned her from social media. the charge was disseminating information related to terrorist acts. rich what do you think of that? >> well, you know to steve's point it's hard to know what is real and what is the equivalent of kill the ump after a bad call at a baseball game. this is why i think the police are out of their water really. and in this area. and i think it takes us into troublesome places. but the big picture -- i just can't emphasize enough -- is the lack of economic opportunity because the recovery's been so lackluster. we're missing $1.5 trillion of economic recovery if we tract a according to normal world war ii recovery. >> sabrina, rich makes a great
point. we know the jobless rate in baltimore, in that yeah is 25% to 50%. we have the murder rate higher than south africa according to the economist magazine. getting back to the social media issue, you know, this woman in atlanta, she was basically arrested. if you go into the town square physical town square in a town and you say, kill white cops i'm not sure she'd be arrested for terrorist activities. it seems to me that's really an unbelievably pushing of the envelope here. >> actually i wasn't sure if it was. we have to remember social media is simply a form of communication. we have cell phones. we have our voices. newspapers. just because we have free speech doesn't mean you're allowed to say anything you want. i think you have to remember your social media is not limited -- it's not the dinner table. if you're putting it out there to thousands of people. it is in effect, writing an open op-ed or going to the towns square and screaming you should kill people.
not exactly covered in the first amendment. i think people need to realizes thats that cab be useful but as steve said you have to use good judgment. >> such sluggish economic growth under the obama administration. we're not going to get into politics here. but what we're talking about is are we just looking and trying to fix the symptoms and not fixing the broader root causes of what's causing the unrest in baltimore? in other words, the whole social media thing where you have cops parsing through social media feeds. that just feels like the back end and we're avoiding the problem. >> i think certainly everybody has good points on this regard and definitely the economic conditions could improve. i think one of this that could be included with social media and technology is community policing. every time we have a situation, whether it's ferguson chicago, the answer is like we need to do better community policing. if you are somebody who sees a
neighbor posting some crazy thing on facebook call the cops let somebody know. >> should people be banned from social media? >> no unless they're in a crowded proverbial crowded theater, you can't yell fire. no because again, unless you've actually done something -- that's a good point about community policing. is precisely knowing when to take something seriously and when you don't. with social media, you're not going to is there thathave that kind of priceless information. this whole thing on video cameras, might be a good thing, at least for a few days for people to see. it was a failure in baltimore but most cops do their job right and people should see what they have to go through each day. >> all right, thanks. up next did you hear what iran's supreme leader tweeted about our cops in america? is it time now to stop those nuke talks and walk away?
protests over what happened in baltimore spreading this week to new york boston san diego, washington, d.c. and iran. the ayatollah tweeting quote, u.s. police kill people over any excuse. this type of power doesn't ensure security but leads to insecurity. #baltimore. steve, you say it's time we sink these nuke negotiations. >> yes, they're simply a dangerous farce. more loopholes than the proverbial swiss cheese. they're out to build those nuclear weapons and they will and obama doesn't seem too upset by it. as for the strait of hormuz what you have there is iran trying to be the big power in the middle east to control ultimately saudi oil fields. if they do anything on the shipment of oil, that is an act of war, even if obama doesn't want to do anything. >> that's a good point. getting back to the ayatollah's tweet, amnesty international, a number of human rights officials have said iran, you know has
public executions for adultery and drug related charges. that tweet was a little out of line. what do you think? >> i agree. it's not -- we don't -- some of the things coming out of iran are certainly troubling. we still have, you know several nations with us at the bargaining table here. i don't think we can pull away from that. and getting out of negotiations the more dire scenario of sending troops over there and our young people is just not an option in my book. >> sabrina, you think we should stop the nuclear negotiations with iran right now? >> absolutely. this recent incident where we see that before we've even really gotten through the first round of negotiations iran is already, you know, taking shots. i think that we're finding it's leaving us looking weak looking feckless. we look incompetent. it's absolutely time we take this seriously. that we draw a line in the sand and stick to it and say no more. >> mike, here's the thing.
these sanctions were meant, i think, to stop this theocratic regime to really brutalizing its people. you have runaway joblessness, runaway inflation in the economy of iran that people really don't talk about. that was due to the economic sanctions. you could have had real democratic change there if sanctions were still in place. >> absolutely. the irony of course is it took the leader of iran to call out obama on the lie about how the sanctions and when they'd be lifted. you know obama had said they'd be lifted gradually. the leader of iran said no that wasn't the deal. then obama backtracked. i think the big danger here too, is also the fact obama is cutting back on our military at the precise time that danger is increasing there. that bodes very badly for the united states and our allies in the middle east. >> to mike's point, rich about the sanctions, already, 20 countries do not have to abide by the economic sanctions now. they include china turkey and
india. they're leaky already, rich. should we just walk away from this nuke deal? >> we should walk away. i think the supreme leader is and the iranian military is giving us ample reason to do. in a strange way, giving us a favor by revealing who they are, that is that they're not trustworthy. they'll lie in a heart beat. and we should walk away. >> bill we've had a, now, increased military tensions in the strait of hormuz. do you think iran being really aggressive do you think we should walk away? >> i'm trying to figure out what the mullahs are trying to do here. are they trying to get caught? here they are on the verge of getting what they want which is this historic snookering of the obama administration with that nuke deal and they're screwing it up by seizing ships. it's insane. >> getting back to the strait of hormuz it is a significant oil delivery choke point for the world economy but iran's oil
fields are really rickety, the output cut in half. isn't that really the end game here? iran needs those sanctions lifted in order to get its oil fields up and running to get more money in, to be even more aggressive in the region? >> they figure if they get control of saudi oil through their proxies, not to mention kuwait and iraq's oil, they'll be able to flout the sanctions because the world needs that oil. so that's the game they're playing. that's the game russia's playing. they have this old mentality, they control the resources, they control the world. that's the danger seeing this world. that's the danger in the strait of hormuz the fact they think they control most of the world's output. >> weigh in on steve's recent common. since he's the boss i know you have to say nice things about it. bruce is basically saying -- right, will be shooting shots at him over the strait of middle america. bruce, you know, steve was saying essentially saudi
arabia's now surrounded right. they have iran acting up in yemen. you have them acting up in their neck of the world and now the strait of hormuz. how do you see this playing out for what happens to it wasgas prices? >> well i think right now we're awash in oil. so it seems to me to be a good time to have diplomacy and, remember what this was all about, trying to prevent iran from getting a nuclear bomb. so a lot of people think the only reason we ever put military troops over there anyway is because of oil. so now that we are awash in oil, i think it's a good time for diplomacy to at least disarm them. >> do you think we should walk away? >> we definitely should walk away. what will happen when they seize another ship? what if they had a nuclear bomb? >> that's interesting. next up the "cashing in" gang
ready to roll at the bottom of the hour. eric what do you got? >> some liberals blaming the media and cops for the blowup in baltimore but is their liberal ajepd da the real problem? plus dr. phil is right here on "cashing in." why he says more americans are joining isis. see you at 11:30. >> up here first, democrats banking in new bills mandating a $12 minimum wage. if they get their way, will all workers have to pay?
forget $10.10 hour some democrats pushing a bill to mandate a $12 minimum wage. they say and unions also say it will help workers across america. are they right or are they wrong? sabrina, what do you think? >> they're wrong. artificially manipulating wages is going to be a jobs killer. i'm sure i'm not alope. that i walk into a local chain drugstore all the time and there's one employee who works there. it is a security guard. because every single thing has been automated in that store. the fact that people who live in poverty and we all want to help those people aren't there because of low, you know low paying jobs at fast food restaurants or drugstores. it's because they don't have consistent paid employment. the best way to help them grow the economy. >> what do you think? >> i think this is a trend that companies are doing anyway. you look at aetna and they're raising their minimum wage to $16 an hour. i think the companies that do this end up getting a halo
effect. even proposing legislation gives other companies a little goose to get with the program. >> federally mandated minimum wage. why not just let it go to infinity? what do you think? >> it's a very cruel thing to impose a minimum wage because some people are not worth it. guess who those some people are, those with the least amount of work skills. keeping those who most need work experience out of the workforce altogether. >> the reason why the labor unions like this proposal of raising the minimum wage is because they bargained for their wages based on what the minimum wage is for other employees. the higher the minimum wage goes the higher they can bargain when they do collective bargaining to try to get a job or something. they're obviously bought and owned by the democratic party which is pushing this. >> the real issue is, you know raising -- nobody wants anybody to raise their family on minimum wage. that's an indication how bad the
economy is we're talking about minimum wage all the time. >> hopefully most head of house holds do not earn the minimum wage. research shows they show up for are they're earning above the minimum wage because they're getting skills. it is a job killer. it is's going lead to more automation and hurt those who have the least. bad idea. it's pure politics. >> we will be hearing this more in the upcoming presidential election. two-thirds the minimum wage workers actually move up to a better paying job within the first year of being on the job, sabrina. >> that's exactly right. i think one of the things on the right there's a fear that you can't actually come out in opposition to this. when you explain to voters explain to people why this would hurt them people understand you have to maybe, you know, spell it out but people get that regulations, you end up hurting the economy, hurting jobs allowing for fewer wage negotiations. >> final point? >> to mike's point, let's raise it to $30 an hour. why are we being so cheap?
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zero heartburn! prilosec otc. the number 1 doctor-recommended frequent heartburn medicine for 9 straight years. one pill each morning. 24 hours. zero heartburn. welcome back. we've got the stocks to buy in may. you have an etf? >> vanguard energy etf. oil prices have been going down. this is a contrarian play. i think it's a good time to buy while oil prices are depressed. you'll be happy when they go back up. >> bill? >> i think van guard's a great place to get an etf but this may be a bad time to buy oil stocks because you're going to have to hold your breath for two years ss waiting for the price of oil to get back up. >> all right, what's up your stock? >> briggs they make lawn mowers. >> i've got one on my lawn mower, it's fantastic. the time to buy is in the winter
when it's snowing and no one is think inging about cutting their block. >> we continue with eric bolling and "cashing in." >> more protesters getting ready to hit the streets in baltimore and some democrats now blaming the media and the police for inner city problems. but should they be pointing the finger at 40 years of liberal policies instead? our "cashing in" crew this week. welcome, everybody. liberals blaming everyone except their own failures for the chaos and destruction in urban areas like baltimore. wayne, maybe they should be looking in the mirror. >> i think so eric in the following sense, poverty and despair are results. they're not causes. and the economics here and the racial questions