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tv   Cavuto Coast to Coast  FOX Business  September 22, 2015 12:00pm-2:01pm EDT

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stuart: my time is up. one check of the big board, we are without 250 points. it is yours, ago. >> i talked for a moment with the pope arrived in your interviewing jesus. stuart: it looks like it. turns out that was not. had me going, how do you on vote that? all right, thank you very much. we got it going, stewart is pointing outcome is biblical guess did as well on a day the pope is arriving in the united states we got a sell-off that is taking all sorts of prisoners. connell: a high-profile visit to the united states, as we see this market sell-off we will hardly blame pope francis for it but the chinese president is a
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different story. he gave an interview to the wall street journal ahead of his arrival in the united states and seemed to say a lot of the right things about how economic reforms are planned in july and that kind of thing. maybe not the most believable statement from the leader of china and more focus on forecast out from the asian development bank on chinese growth saying the chinese economy is likely to grow instead of 7.2%, 6.8%. we are seeing in the markets today, concerned about global growth, money out of stocks into the safety of government bonds 1.5% on the dow jones industrial average 2% on the nasdaq and where we are seeing the money come out of the commodity related stocks, commodities themselves fall, but these energy stocks, bp down the list to conoco, chevron, exxon mobile in the red today so that is the theme, we are not blaming the pope, will down 1%, global
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growth, a visit of the chinese president has nothing to do with it. stuart: the pope is about to leave cuba and is arriving in the united states and will be here close to the next week but it has been a visit where the you get the company, in the united states already stirring up some controversy with whatever his remarks will be to congress. stuart varney interviewed a congressman who is not too to attend in the will of the house. be that as it may the sell-off continues. where is the money going? for the time being it is going to the safety and security of treasurys, ten year treasury. the yield collapse 2.13% so there's a great deal of things like treasury bills, bonds, not in anything that even hints of stock or commodity so if you are gold or platinum or any of the agriculture commodities to say
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nothing of oil which is 22% today, you are not having a good day and this is the purview of terry duffy who is here to explain. you guys make money either way. the volatility is good, you were saying during the break, your stomach with christie's year if you to tab these. >> don't want too much volatility. that chases people of the market because they're waiting for 71 way or the other and when you look at the fed alone the fed is confusing about what they're going to do with rates, they gave a projection. i think it is a big part of it because it doesn't go back to the last week, this goes back over the past couple years when you want to see certain factors happen in the market before they move rates and start to tighten. those things started happening over the past -- >> they drew their own line in the sand and didn't honor it. >> that confused the market place. in october if they don't do it because of another underlying factors and that causes more
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volatility. in went the other way. stuart: a lot of that didn't park its way into things like gold or silver ore that stuff. make a note of it here, this is the 20th time this year the dow has been more the 200 points. for all of last year, we didn't see that. what is going on? >> i think again there is uncertainty, the markets hate uncertainty, they like to have some kind of vision for the next several years and we are not seeing that whether it is that the government level of growth in the united states here is a great example. i testified a couple months ago about the export of oil in this country, there's a gentleman named mr. ham who believes there could be 1% gdp by lifting exports. neil: that is congress's block. >> the president says he won't support it. there are certain things like that where it you can build the economy by making a few smart
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decisions we are not doing it. whether it is business for the government level is repeating progress. neil: i get the feeling this is a market that doesn't want the correction it wants. if you are down 12% it really wants to be down 20%, so many stocks are in bear market territory, it wants to complete that for that ultimate cleansing. what do you make of that? >> a lot of people missed the rally, you don't want to buy a highs and waiting for break in the market so if you look at volumes over the last 24 months, basically anemic throughout the rally which most people missed. of course they want a bear market because they want to get back in because you cannot make any money in fixed-income. now you have participants in fixed-income that should be in fixed-income and doing opposite so it is a dicey situation and most people looking professionally for to go down for what they missed. "cavuto coast to coast" when isn't it weird that people would
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run to surgery for almost nothing? because they want to protect what they have which makes sense. wikipedia underlying underpinning of the improvement because that translates into what? mortgage rates, lower gas, do you think that is setting seeds for a turnaround? >> a bigger impact in the economy than anyone has given credit for. crude-oil trading and $92 a barrel for three state years and then in half. every single week people use the product to go to the gas in their tire and got half their money back, that is disposable income they never had before, goes to everybody not just an interest rate play, more power for for the economy. neil: there is a pope indicator, superbowl indicator, the pope in decatur is largely one of pope
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is in the united states, the long with pope john paul ii, and four times with the president, we average all the way back to pope paul vi, the market goes up. >> as a good catholic that i am the day is not over, the pope is only in d.c. when he gets to new york. and -- neil: i don't think he is saying he is not a fan of yours but maybe this is an early reflection of lecturing. and people feel the is going to lecture and capitalism is what built this country, financial services help our national security, the vote has of religion to run and economics not to run. that is why people get --
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stuart: neil: can't believe you said that about the pope. >> you say jesus was here. neil: this guy was a double for jesus. thank you very much. commodities are taking it on the chance stocks are taking it on the chin and in the middle of all this we have the president of china coming to the united states first through seattle to talk about a place for you can get caffeinated. high-tech ceos, a very high-tech ceos to have been compromised to have seen their data cyberattacked by the chinese so it is a little weird and certainly weird on what those are doing. it includes tim cook of apple, john chambers of cisco. amazon, a who's who crowd of companies that have been hacked.
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>> this makes absolutely no sense. your coming on the heels of the greatest intelligence minds, the chinese, we play host to this guy, don't understand that. neil: when i want to know is why they meet with him. better to meet with him and talk about this on paper than not to but this is something that happens with regularity that goes beyond the pale and it has hurt their business, hurt their credibility. and apple's case 2 dozen or so compromised, you are going to have problems. >> 39 apps that we know of have just we heard about this this weekend and we want to sit down with them. the biggest problem i see, at the end of the day if we don't start making security first there isn't going to be much
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left. we are in the embryonic stage of the cyberof war with china and are failing and that is the bottom line. take it or leave it that is the truth and we need to register up and get our heads out of the stand. stuart: neil: we hear about this, what is the best way to handle this? you think twice about 21 gun salute and formal reception on the south lawn of the white house but if you are a company ceo, aren't you being just as offensive just sitting down with the guy, like it is not happening? >> no question about it, we're crossing over like it is not happening, it is happening. who hasn't been hit by these guys yet? what else has to happen? as far as what we are not doing, what business is for protection, with respect to protecting government intervention and we hold a state dinner for them, spend all that money for his
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protection, and top tech company. neil: good seeing you. dagen a taliban-week here, what is bothering paul is bothering you. what most bugs you about china? what is holding so much of their debt? dagen: it doesn't surprise me, a candidate debate last week, and i heard a lot about what people want to spend money on and not about this issue. individuals because they went through their own debt crisis, very eat real personal hardship back in 2008 when they lost their home, they understand the danger of too much debt and what can happen but look at ten year treasury, the yield, people on buying treasuries.
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you have, that has been a flight to safety for years since 2008. neil: you are worried about your principal. dagen: load into a sense of safety because we have not had -- joy that has been selling u.s. treasurys, trying to raise to by you on. ashley: issue look at the giant pile of debt they only have a third of it. and japan for the month back in april but they are not going to catch it all in. neil: if they need to do that -- >> in a dodgy neighborhood, safety, money always comes to the u.s. and if chinese have to do that that will have a big impact around world and money will come back to is anyway. neil: you know what is weird?
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the united states is going to press its case with chinese leader when he is here including offerings more than quick fixes for the economy. that would be like offering dietary advice. are we really the ones to tell them what to do to get their economy going? dagen: we are not going to tell them, we are going to beg them to get their economy righted to stabilize their economy, please don't sell the debt and by the way please keep buying some of it, we need that. the interest on the debt, the annual interest in six years will be the equivalent of our defense budget. here we come. neil: the chinese leader is here. the chinese leader in the united states in seattle and the pope arriving a little later in washington d.c. but for our money this arriving as the one that matters most. dagen: you need to china to grow
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and you need the pope to pray. ashley: you can tell china what you want that they will ignore you and do what they want to do. neil: the chinese leader have an air force one or anything like that? private plane? ashley: i don't know for sure. i will get on that, that is a great question. neil: that doesn't look like -- usually, united states of america. just air china. neil: we need them as much as they need us. dagen: want to that market. neil: a couple days ago donald trump saying this, they need us a lot more than we need them, we stop buying first of all of a sudden they are in a heap of trouble. dagen: he is not right about putting ^ imported goods. ashley: no one wins in that situation. dagen: low-income americans with a tax is what happens, people
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who buy products made in china and -- neil: you mentioned donald trump. neil: dagen: people don't call them on the horse that comes out of his mouth sometimes. oh yes i did. neil: ten hail marys. a lot more with aziz in the second and as you might have heard scott walker is out of this race, he was urging others to do the same. who would those of is the? charlie gasparino has an idea. technology empowers us to achieve more.
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neil: surprise a lot of folks including ted cruz on the fox news channel, scott walker was
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quitting the race. immediately people wondered who else could be out there or signaling should get out to pave the way for a united republican front to take on presumably donald trump, charlie gasparino making a lot of phone calls. >> doesn't surprise me. last week even on your show i said he was likely at some point as soon to go because he can't -- neil: can't find them. >> maybe he is on another show. neil: stuart varney booked jesus on his show. who do you think vulnerable candidates are? >> the names, walker on the top of the list primarily because he couldn't raise money and we know anthony, very difficult time raising money. one of his finance guys in new york. >> anthony has the midas touch.
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>> i think you got to put rand paul in the third. very vulnerable, chris christie is a vulnerable candidate and marco rubio to a certain extent. that is the top tier. the other ones, lindsey graham, g e, jeff immelt, actually went there. he said he was going to give some money over a week or so. neil: they went through it fast. i didn't think money would be the issue and most people didn't. because walker and the koch brothers behind him and anthony on wall street and marco rubio has blackstone and other pockets. neil: a lot of those walker people moved over.
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>> i don't know that for a fact. that should help. i don't know it for a fact. neil: you offend me when you say that. >> i tried to offend you every day. neil: you don't see marco rubio as a beneficiary. >> here is the problem when donald is gone, he sucks all the wind out of the campaign, underscored vulnerability of his opponents. neil: dropping from at least where he was. >> i think he holds the 20% core which is him but do you think marco rubio will become president? his supporters in new york don't think so. they think he's playing to the vice president. the same thing with chris christie, these are candidates cannot viable presidential candidates. neil: i didn't think money was then issue. chris christie name that. >> money and stature. i don't think, when i spoke with
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marco rubio's people pose debate they said marco rubio did better but not good enough and one of the things when you have 17 candidates, almost 20 candidates and one guy that can seize media attention, the best retail candidate out there is donald trump and someone who is very good as well, carly fiorina, if you think about it she is not really a politician, yet she is better at a retail level than walker. i did not hear it -- do you hear me sing? neil: look at the time. let me remembers this. did any of you see this picture? sometimes an image is worth a thousand words. do these two look happy to be together? that is one. there is another one. that includes vladimir putin meeting with the leader of israel. even worse. wait till you see this.
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neil: i don't know if this is a factor, it doesn't encourage a lot of buying, russia expanded its military presence in syria. this is more than a helping hand. the russians had argued as recently as yesterday that they were just trying to help the syrian government take on isis and it seems to go considerably beyond that. what is the real deal? lieutenant-general richard newton joining us now. this looks much more substantial, the iranian weaponry and russian weaponry. >> we have been watching for the
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last several weeks, several cargo aircraft coming and with supplies, equipment and troops, reportedly satellite image shows there are 28 combat unit aircraft in syria, and an air base that includes fighters and air support aircraft and capabilities with a remotely piloted aircraft there using for surveillance and so forth. and air picture, participating in an airlift coalition much more complicated than we encountered a couple weeks ago. stuart: you wonder, you are very concerned about these developments, the timing of his talks with vladimir putin, presumably it was going to the vladimir putin's way of calling the israelis down, no evil intentions here, we take this iran agreement, say what you will, i am reading the body
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language here, vladimir putin doesn't look like he wants to be there. i would say would you please sit up, what is going on? why did they even meet? >> back to is real, they are concerned about cash as of farmers in syria, into lebanon and so forth to support has bola so they have -- >> russia is behind that. >> that is yet to be determined, vladimir putin understands the power, he sees a vacuum, and whatever the case may be, looking for opportunities. in order to turn him, and it works out well for the united states deterrence, being able at the end of understanding what those capabilities going to do. not only the united states the coalition to deter that.
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that vacuum is being filled and vladimir putin will walk in. a lot of folks are concerned what the next play will be. neil: talking with dick cheney yesterday, he says the world has heard number and they just don't think we are going to do that. >> this, i have done the show a number of times, this is the most complicated international security picture i have seen in my career and others as well so is leading the challenges in syria but you have the iran nuclear agreement, the price of oil, all those things, economically, politically, militarily and diplomatically, those are adding to a very confounding picture and vladimir putin knows power. chinos lack of resolve and people find what it takes to fill that vacuum if he can. neil: he is happily doing so, not happily. that is in engaged. thank you very much. in the meantime we are getting word the pope has left cuba. am i right?
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on route to the united states, he is going to tell you what it is like, the chinese leaders, china air flight. i don't know. if you are a leader of the catholic church and the other china, if you have your own plane, maybe they're sending a signal to us, youth and save a little money on that. i suspect it is just the pope and his people on that plane just as the chinese leader's plane, on that plane, i don't think anyone -- got a cheap ticket to seattle from beijing that that could be me. more after this. fs investment m, we believe active management can protect capital long term. active management can tap global insights. active management can take calculated risks. active management can seek to outperform. because active investment management isn't reactive. it's active. that's the power of active management.
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connell mcshane, always ready, can't stop me in that control room. any time i see you, you work with don imus, there's a little bit of a tape delay. undisposed rally, a lot of ground to make up. connell: this week we expect the market rally at the end of the week for no other reason pope francis will be in town and when popes are in town, the market generally does well. back to 1965, start with paul vi, the first pope to visit the united states, good job, almost 1%, dow jones industrial average, he was only here for day. imagine if the state week.
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pope john paul ii was here many times, we highlight 1979, he came here the first time, met with president carter, the dow up 1/2%. on most of his trips, 1987 was an exception the market went up. the pick -- people rally when pope benedict came in 2008, there was a week, look at pope benedict. you have a real tough time topping pope benedict. 4% to the upside. you might say come on, google came out with earnings and caterpillar had strong earnings, don't talk about earnings. by the end of the week we expect to turn everything around. we are down but just for the moment francis is here to stay -- save us. neil: i won't share my pope impressions. we had a scottish pope, that
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would be a dream, but we do not. thank you, connell mcshane. judge andrew napolitano on why that might be a tough battle for this pope, any positive numbers the way he has been slamming capitalism but different strokes for different folks, different impressions but the fear is we had one congressman saying to stuart varney and won't be in that audience because i don't need a lecture. judge napolitano: i am going to be in the audience as the guests of a member of congress. i am going with some do i -- much stomach will be in not because of what he is going to say. i will sit there politely and listen to him sound more like al gore than thomas aquinas when he talks about central planning and design environment. he is the central planners.
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he is raised in argentina, does not appreciate capitalism. neil: you understand where he came from, you could argue about banks and the country reneging on its debt. all he knows as a young man is the hardships imposed. judge napolitano: what he cannot argue about is capitalism has markedly improved the lives, the health, the safety and the wealth of everybody on the planet including the poor. when he goes to st. patrick's cathedral after blasting capitalism for two years he will see a gleaming cathedral could just at a $200 million face lift. where did the money come from? rich catholic capitalists. where did go? artisans and laborers who worked for two years to bring that cathedral to its current state of leicester. that is a system he fails to appreciate. neil: does walk the walk. whenever his background you can
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understand where he is coming from. i don't know if he will get too preachy but he is on the side of changing a problem. any hint from that is going to rankle some people. in judge napolitano: democrats released a tape two hours ago suggested, a tape of pollution, extreme examples of pollution around the world suggesting this is what the pope should address. even when you have of liberal progressive pope, it is a no-no to tell the pope would you expect him to talk about. >> he is the first that will speak to congress. but others have been compelled to to say things. judge napolitano: catholic social teaching is have a big heart and the rather's keeper. we were raised in that tradition. the issue is should the government force you to have a big heart and to your brother's keeper? his predecessors said no. it is a moral choice on your
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part. he says yes, it is an obligation. neil: do you agree with what chris christie said on religious matters he is infallible, not on any other matters? judge napolitano: yes machine fallible on matters of faith and morals, thank god it is limited to faith and morals because quite frankly most respectfully he doesn't know what he's talking about in economics 101. capitalism has done more fog of poor than any governmental system in the history of the world and he should know that. neil: the pope is phoneing from his plane, the judge is excommunicated. pass that along. let's take a look, the chinese president has arrived, he will be meeting with some seattle honchos. they are gathering here, very impressive group, jeff bezos, tim cook, the irony with the tim clark meeting, it is apple that
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as had the chinese hack attack the compromised 29 apple apps and highly popular apps shop and yet he is there with the chinese leader, it is weird to me but as the pope would say who am i to judge?
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neil: lloyd blankfein announced a form of lymphoma. if there's such a thing as a good kind of cancer this particular lymph node is highly curable, expects to make a full recovery and will continue in his operations as he goes through treatment, we have not heard details but he will be okay. scott walker says he is
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finished, but remember, that is exactly what they said of joe biden when he got 100 votes, hillary clinton got 16, 18 million, with joe biden, barack obama's running mate and vice president of the unaided states, doesn't necessarily strike twice but walter mondale too, the fact of the matter is he quit the race early and end ed up being jimmy carter's running a so it can happen but i am thinking wisconsin, been there done that. >> right. walker brings an impressive resume to the table as governor of wisconsin, helped move the state from a budget deficit out of that deficit without raising taxes. this is the kind of leadership we need in washington d.c. and helped washington become a right to work state so he didn't just go to the governors of the ship to govern the status quo. neil: any prospective presidential nominee is going to
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-- what made him fail on the presidential stump, maybe not but the fact we already had wisconsinite on the ticket nothing against paul ryan, why should we go that route again? >> these are interesting times, governor walker describes himself as aggressively normal. candidates look like they're running for a candidate who's more aggressive than normal in the cycle, the mood is favoring outsiders. governor walker has been in office for some time now but his record shows he is successful in his personality that was more a liability and less of an asset in the round. neil: what is amazing to me is two accomplished governors, say what you will of rick perry or scott walker they were affected of governors, they did not do things a lot of people love that they were very effective as governors yet both are out of this race. the thinking was thought to be a
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governor, they had a record to show for it and two prominent governors who had record to show our out of it. >> that is right and these are guys who are focused on having good policies, they had great policy themes, producing replacement plans for obamacare, governor walker was one of the few candidates to offer a way forward on the health care issue but the conversation this election cycle so far hasn't been about those issues, it has been more of personality contest and was not the right time for governor walker. >> does carly fiorina benefit from walker's attack and the divisive language on donald trump, that is who he was talking about, unite behind someone who can win and seem to be anyone but donald trump but if your looking for an outside the box candidate she does fit that bill. >> absolutely. carly fiorina as a foil to governor walker, she has had excellent debate performance since walker didn't get a chance
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to shine, carly fiorina has been shining and she will continue to shine as an excellent communicator, she has leadership skills and handles questions about her record very well, talking about a positive vision for where she would take the country, someone who is outside washington, talks about going against the washington status quo, reforming the status quo but she does so in a way that is very appealing. neil: we're catching her in south carolina where she moved up in the polls, she is second nationally to donald trump. one poll in new hampshire she actually leads. i am beginning to think in the last 30 second that we have, do you think this is playing out 2012, a bit of a boom in popularity? we had this last go around. is survived? >> the nomination process will be different because there have been changes in the process. that will affect can't compare this cycle necessarily to weather cycles in the past because of the changing process
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but there are few candidates, keeping it relatively low so we are going to see get later attention in the cycle will benefit them in terms of timing. neil: great seeing you again, appreciate it. you know there is an old-line you probably heard from your parents and grandparents, never spend more than you may, try to stop a lot with. i want to introduce you to an nfl player who lives on $60,000 a year. you know how much he makes? and north of $600,000 a year. after this, you will.
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r neil: getting used to the swings, on the dow, represents the 20th time this year we have
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seen the dow kareem more than 200 points, the 20th times this year. for all of last year, for all of last year that is the number of times up or down 200 points, this year the dow has moved 200 points north or south, 41 times, that, my friends is what is called volatility and that is a reminder that you don't spend all those market winnings in one place. this next guest knows it. former detroit wide receiver made a little bit when it was discovered despite all that money, a multimillion-dollar contract in the vicinity of 600 grand or so. living like the was making 60 grand. do i have that right? >> that is correct. why so tight to the vest? why were you so tight with the
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money? >> i think i had a game plan coming out of college. in lump-sum of money, try to figure out what makes this last as much as possible, i had a great team around me and agreement for that allows me to be educated and to realize that i need to cherish this opportunity and feel like i did a good job, me and my wife alike. neil: you were looking at a multimillion-dollar contract, free agent right now but you had some injuries and maybe you saw that as a possibility of all these winnings could evaporate. was that behind your thinking? >> it definitely was. in 2011 before i got drafted from that point on i started thinking about the future, didn't know if i would make it back, i got drafted in the second round, the detroit lions and wanted to make sure whatever i was blessed with with that opportunity a lump-sum of money
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had to make that any less so it has been an awesome experience, tough at times to sit back with your teammates and friends, underwriting their cars and things like that but at the end of the day my end goal, i am not looking at this year or next the 20 years down the line, pretty much setting my wife up and myself and my child ought to have a fruitful future ahead of us. neil: you are living on that net so it would translate into 80,000 but the fact of the matter is you have of $5,000 monthly budget. includes $500 for groceries, $300 for gas, if gassings lori will make some money on that. $90 for yourself, the biggest part is your expenses, your car payment, $800 or tweet to cause a month, and a cadillac for your wife so she even gets the better
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car. she evers and come on, you are a big star, splurge, spend it? >> i was the guy who wanted to splurge and she is more financially smart than i am so i have taken a lot from her to be honest so we make a good team. neil: are you putting this money away, socking it away for your kids down the road? >> i haven't 3-month-old, decided he is growing like a tree stump right now. he is our pride and joy at this point. we invest a lot of money, returns making life that much easier living off our cash flow to this point, so me not having a job right now, hopefully the day comes in but if not financially pretty much secure and excited about the future. neil: a remarkable story, you
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are way ahead of some many people in so many areas, not just sports but do you look at these markets and tempted to invest in them and think this is a buying opportunity or anything like that? >> i have been on the markets, i roadway from 2012 until now, recalculating the way i look at things right now so people say there are buying opportunities here and there. i am not certified but i have a great team around me leading be in the right direction but there is the possibility to invest your money out side of market that there are reasons people are pulling their money at this point but everyone has their own game plan and risk reward tolerance is different. neil: you are remarkably wise man for such a young man. word to the wise, be wise when it comes to money, don't spend all of it. thank you, best of luck in your career. >> thank you. neil: all right, is he as cheap
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as stuart varney? that is a problem. we will explore that after this.
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neil: on that date chinese leaders already here. we've got the pope coming here. we have god a wicked spell of compound in the south right now. a lot of to do with the guy. his country. so by the white house is offering economic device. which is weird. the u.s. still has an upper hand. given what we are going through, we still cap top of the chinese, evident technologies ceo summit, the company has been hacked by the chinese. they are all there to meet with them fantasy favorites.
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should they be there? >> neil, our relationship is such that they steal our government secrets, steeler defense secrets. they steal our corporate secrets and try to intimidate us militarily by building islands and put in a military on the island in the middle of shipping lanes and take advantage from a trade standpoint. our relationship is strained. instead we have a state dinner forum with a 21 gun salute. i think we should cancel the state dinner. i don't think it's appropriate. neil: in this meeting with the chinese president. how much of the factory shine on his markets right now, the realization of falling out of bed or that the strength there just isn't there where they are incapable of fixing whatever is wrong. >> interesting you say that. they are dependent upon us here
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their market affects ours, but their market is dependent upon our spirit the economy is struggling dramatically. the markets crashed because it is built on a bubble is spending and debt. they had 7% growth but the reality is closed due, 2.5%. they've done everything they can do. lowered rates five times. i didn't say their economy or markets. they pump money into the economy. a devalued currency. i stated over and over again. the economy is weak in the market is the market is weak and we take advantage of that and renegotiate deals because we are stronger as a result of them getting weaker. neil: thank you very much. tae young in atlanta. we were telling you that dow more than 200.1 way or the other. that is double what we had last
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year. volatility is a given and it looks like it's here to stay. how bad does this get? >> will neil, if you get much worse before it gets better. i don't think we'll have the big spoon. we have a much better on trade and bigger reckoning coming when we unravel things you're talking about. china will continue to worsen as our economy starts to slow here, economic slowdown already happening. between now in the end of the year, and a pullback to the loews on august 24th wishard via an basis points about 750 points below where we are now. before we could get a launch into the end of the year would be a good expect they should have. nothing written in stone but that is a good expectation for the next two months.
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neil: where is your money going? none of status benefited. deals for those looking to refinance the mortgage or take out the nice development. that's the only place i see benefit. >> well with the fed keeping your spirits or one quarter of the rate policy in place, what it has done if everyone who is the saver who wants to try to generate income based on the cash they are to have come it is driven them into risk assets and the stock market for high dividend stock plays. it's a difficult place to put your money right now. if you are looking for income to pick up dividend paying stocks on pullback, not when we get charging up, but that might be a place to go. we've got to remember when the markets are tumultuous to cash
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as they position, too. i am not advocating noncash, but in our positions is gone to a good chunk of cash down to 40% and 60% cash right now. that is an okay place to put money when things are as uncertain as they are right now. neil: thank you. we appreciate it. with the pope coming to town, timing couldn't be better. we've got gerri willis and one of the things they might hold off on this is apparently capitalism. we don't know the degree to which he will do that. gerri willis was raising an interesting point yesterday, spare the lectures from an edition with a lot of money. >> i would love to on the rafael, the vatican's.
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-- that is fine. but don't lecture me about my money. there's something of a double standard at work. it's not that i'm saying the vatican shouldn't have money, catholicism shouldn't be the wealthiest religion in the world. it's not necessarily we are worshiping money as capitalism in this country. neil: that is a brilliant point. david, what a thing? >> thanks a lot. -- >> the church has a special mission for the poor. what economic system has done more for lifting the poor and the middle class among middle-class and wealthy class than capitalism has done. any measure you have, the poor people in the united states have more money, richer than the upper middle class in mexico or
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india or third world developing country. on the other hand, there's two kinds of poverty. material poverty i don't think he understands very well. how many rich people have we known who are not happy? money is not everything. that is heard to say on the business channel xbox business. but it's true. money doesn't solve everything. the point the pope makes it a spiritual poverty is a valid point. if he stuck to the point is that all you rich people don't pursue money because it's not the end all. >> okay. he didn't inherit all that comes with it. the point is he does walk the walk. he hadn't been at it or
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sharing -- all a insane as humanizing as you can be your modest as you can be,he is trying to be that way. his experience with capitalism has not been favorable. he blames big banks that embedded his people and has a twisted view of this. i understand where he's coming from. i just think it is bad to bash. >> you have to live in both worlds. you can't live in the world of the church. you have to live in the real world and that is what we do here every single day. hopefully goals are not just capitalism. the fellow who started the churning pharmaceuticals who was raising prices. people would say that is a move without any spirituality to decide to increase
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pharmaceutical price of 5000%. neil: there can be excesses. >> i want to bring up at the rate you're going, you're to. father thomas reese said it can play to challenge us, to get us to think. he is doing that. the rap against tennessee is lecturing at the ranch. we don't know exactly what is going to say. we do know maybe he's got some goodies like climate change. should he do that question are >> part of the job is the pope is to be pathetic. profits convert their foot bed and afflict the comfortable. the job is to speak truth to power. this pope has seen poor people all over the world, refugees, the poverty in the third world. he wants to be a voice for those people. true, capitalism has brought some people out of poverty and
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enriched a lot of people. there's still millions and millions of people in dire poverty all of the world. to ignore these people is simply unacceptable. trying to weed out ignore these people. there is no way to live and there are donations from united states government. in other words, the money people made, not just the rich people but they come from hard working class immigrants who come here and send money back home. people don't go to poor countries in order to send money back home. they go to wealthy countries. our economic system provides them with the tools with which they can help poor people. >> we are the richest and most powerful country in the world and that is why he's coming here to challenge us. what are we doing with our wealth and power?
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neil: $39 billion -- >> in comparison with our gdp, we are giving less of a percentage of our gdp to help the rest of the world in many european countries. >> we have the resources to be even more generous than they should be. >> if i could just interject here come the teaching men how to fish. don't fish for him. is it about giving money or something mouse? other countries coming online. neil: this pope walks through the streets of buenos aires in the slums. they wanted jobs but there were no jobs. a lot of them put out of work or globalization. these are the people left out of the progress. these are the people's whose
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votes are not rising. these are the people he wants to speak for. he doesn't have any specific answers but the smart people like you and people who watch the program need to get together and figure out how to help these people because they are not prospering under the current economic system. neil: who is he blaming for that? >> he is blaming everybody. that the job. neil: i think he's disproportionately going after americans and more to the point, american capitalists. he doesn't like that many of the issues with them. i don't know why. >> is very serious issues with the unregulated capitalism. pope benedict did, too. pope benedict said there was a role for government in the regulation of the economy
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redistribution of wealth. liberal democrats talking about the role -- he also is challenging the system at its very roots. what we have is a carbon-based economy, which stresses consumer base. >> 's father, do you know anything about pollution in government controlled economies? were they so completely polluted -- >> i'm not defending socialism. >> father, may i finish my point? the private sector does a lot war against pollution. countries that are based under free-market capitalist system
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have much more success dealing with pollution than countries by communist china or the old soviet union. >> we have pollution controls in this country because the government has imposed them. neil: we have to go. it occurs to me you are thinking all these nasty questions came for me. forgive them, father for they know not what they do. they work for, well, sbm. when we come back, talk about bad guys of capitalism. why they are getting it on the chin because they are gouging you in your wallet. hillary clinton on this one could be right.
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neil: as soon as hillary clinton defeated her rage at a lot of these guys that were quintupling or more the price of common drugs to take it manager product desperation, that sort of thing. enough for doing it that it raised hackles. the conservative liberal can manipulate, the budget stocks are still swimming. her problem is with those who out of the blue send basic prices -- >> there is an article in "the new york times" on sunday. this dovetails her announcement 2:00 p.m. this afternoon about her idea to bring down overall prescription drug costs. she said 721 words and then to
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stock ceiling. they bought this drug used to treat toxoplasmosis which is a parasitic infection. the cost went from $13.50 a tablet to $750 a tablet. this is happening with older drugs. a pharmaceutical company will buy, check price up and said he wanted to stay in the market, this is what you have to pay. this is a much smaller issue. neil: we hear this occasion. one drug is being saved up before a new one comes on. the mac smells bad. i will argue this is a small issue on the bigger issues talking about at 2:00 among this
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will be a huge issue on the campaign trail. that is you have all of these new drugs coming on the market, not older ones. immunotherapy drugs, hepatitis c drugs running into six figures. hundreds of thousands of dollars potentially. how is this nation going to pay for them? the biggest thing they want for medicare to negotiate. it is not allowed by law with medicare part d pass with president bush. they want the drugs from overseas and a hot issue. if medicare better at negotiating drug prices? by the way, over 100 oncologists wrote a letter recently but have argued in part for this to allow medicare to negotiate drug prices because they see people
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who would rather support families then pay for the drug available. neil: not the ones that are dragged into this cost billions of dollars in research to come up with some of the life-saving drugs and they've got to get the investment back. how many of them do you think in percentage terms are going to the extent of gouging? >> gouging is the word politicians love. this is what the market will bear. while the market changed to bring down prices? the issue with immunotherapy drugs is people with co-pay can afford them. if you don't have some way of controlling the cost it will damage medicare as well. >> you can force government control because he consented we will force the government to america while the opportunities
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with all these cares. >> it might hurt. the issue broadly speaking if you don't want the government negotiating drug costs on behalf of medicare, republicans need to come up with a better alternative. hillary clinton wants to dictate how much revenue has to be spent on r&d. that is something i'll she is going to be mentioning. neil: very good point. dagen mcdowell, thank you are a match. certainly with scott walker dropping out, have you noticed a phenomenon that looks an awful lot like 2012. think long and hard because i'm telling you 2016 is turning into 2012. i'll explain.
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just like eddie, the first step to reaching your retirement goals is to visualize them. then, let the principal help you get there. join us as we celebrate eddie's retirement, and start planning your own. neil: the selloff on wall street down about 275 points.
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concerns about china and a fad, concerns about what's happening with commodities. the only place getting investment interest. the safety and security and even more poultry today because this is where the money is coming. it is important to look at the half-full glass for those in bed looking to refinance the mortgage. security as mortgages mortgages and popular home-equity loan are paid to. the cheaper they get for refinance and then getting the house. but again, the selloff does ensue. going into this about whether it's 2012 all over again with scott walker out. there was a point in this race out six weeks ago when scott walker led this race, pre-donald trump. in states like iowa, scott walker was leader, more like
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july. he took a very brief turn in the lead as to jeb bush and as does donald trump, as did and does carly fiorina and a couple states. this does sound a lot like 2012 when herman cain was an early favorite, newt gingrich and then michele bachmann. at her and having their political 15 minute of fame before the party rallied around mitt romney. who will be the rallying figure right now? david mercer on whether history is repeating itself. >> you are on to something. the voters are not attached to any candidate. it's only 2015. we are not even in 2016 yet. there's a lot of truth to the front runners so far before the whole thing is over.
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people forget that mitt romney lost -- neil: by the way, and bill clinton on the road to his nomination and jimmy carter on the road to his nomination. so that happens. i was reminded of the democratic side although not as many candidates yet, placing bernie sanders and hillary clinton such places. in fact it more crowded? >> i don't think it gets more crowded. certainly not to the extent the crowd is gathering. i think five to six candidates. there's a question mark about vice president biden but we will address that if you wish later on in the show. that said, there is a lot of similarities. multiple candidates as you do in 2012. secondly, you don't have leadership qualities summoning the port among donors, among state party leaders, other
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congressmen than others being surrogates to campaigns. there is a distinction, one being trump and the other being outsiders dominating the republican primary. you have carly fiorina, carson and trump. neil: subsite seems to be searching for the time being. she's already eclipsed ben carson. looking at whether she is the candidate that they settle on what i should get the brief minute of time and it teeters out as it did for michele bachmann and newt gingrich. >> absolutely. i think that is the case. if you watch, if i'm an investor as many donors are, they are spreading their money among
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korean for candidates. that only prolongs the opposite of what the republican party is trying to do is debate to shirt and a primary season. the second night, it is to suggest there is no leadership emerging that commands the respect and support of donors. if you want a candidate who will spend your money defending past record, which is shaky or do you want somebody who is less risk and more probability. >> we are still so early in the process. the fund raising and donation and we don't know how it is going to shape out. we don't know how it's going to shake out. neil: that i think we ought to pray. feeling a lot like 2012.
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let's take a look at the selloff in the treasury security as well. the more the stocks go down at this rate we are looking at our 20th 200-point or more dow session. 41 times this year we have seen the dow moved 200 points or more. that is double the movement we saw last year and we still have a few months ago.
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neil: you've heard a lot about apple planning the smart car or whatever they are calling it, maybe 29th and, could be sooner, could be later. apple is actually joining a breed of suspicious characters promising battery powered cars. it's obviously more than not, mark. i've heard from people who say he holds this whole technology. it not a proven technology. >> it's not ready yet. let them build whatever they want. if the technology is there, great. the problem is that technologies mandated by government for political reasons. "usa today" had a headline saying they the polar bear, buy an electric car. this is an ideological agenda
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forcing a technology before it is time. apple is now wading into this. we had the ceo of chrysler say please don't buy electric cars. every time someone buys when it costs $14,000 a car. they lose money to hit these targets. neil: one of these characters now is going to come up with a magic bullet. a lot of these cars to survive on electricity is the limited charge range. 250 miles on a charge. ended up as 400, 500 eventually. that could be a game changer. tesla claims it is getting closer. getting reports that afford it could be getting closer. gm has a few in the line.
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does that change this or no? >> it does. the breakthroughs are just around the corner. they always seem to be. if anyone could do it having sat everything else, apple is the one that could bring this to the whitest mass audience possible given their success at the iphone and history of innovation in their history of knowing what gamers want. i would give them points over almost every existing manufacturer despite what former executive bob lutz says. if anyone can do it, apple can do it. but it's going to be technology. the sooner we get away from politics, ideology or mandates in the government, if they think they can make it though and a good car and continue the evolution of breakthroughs, there won't be any controversy.
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the controversy comes at mandating it. neil: thank you are a match. sometimes you can force companies to pull off breaking cars to look like they are the emission standards. europeans facials calling for a probe and ceo taking to the airwaves to explain the situation. where does this stand? not quite ready. he's on an apple phone which could explain the problem. i want to bring this up to date the ceo and i hope i pronounced it correctly a promise to clarify the issue that it's not the way the company and is unaware this is going on. with the widespread use affect so many cars that now we are ready with jeff flock. it is an incredible stage. kinnear is now?
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reporter: yeah, neil, sorry. the whole point of the story is to knowledge if you hear me, vw coming up with impressive technology that could circumnavigate the epa's clean air requirements. pictures today and ceo martin winter corn. there was a report he was going to resign. his contract is up on friday. he did not resign today. instead began apologizing and saying i'm utterly sorry. these violations go against everything the w. stands for. i don't have the answers myself to the questions right now. who knew what, who authorized this, essentially what they did is put a program into the vehicle ascents when the car was on a dynamometer and the car doesn't go anywhere but your testing it. it stands back and would turn on
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the admissions staff and off when i was on an actual road. maria truck to carlos golden today, ceo of nissan. he thinks it is a one-off deal. nobody is guilty. >> the whole industry is down because their suspicion the problem is much bigger than what you see so far. so far is a specific isolated incident. reporter: one thing to add to that. talks among the epa has had other chances for automakers have the epa's testing and maximize the ability to pass those tests. this could get bigger before it gets over. neil: guys got a real game changer but we will see. thank you very much as always.
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jeff flock. the iran deal is all but a done deal. dick cheney was with me yesterday and had a two word response. when you're not confident you have complete visibility into your business, it can quickly become the only thing you think about. that's where at&t can help. at&t's innovative solutions connect machines and people... to keep your internet of things in-sync, in real-time.
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leaving you free to focus on what matters most. >> time for fox business brief weird i am connell mcshane. basically everything down. what we call a heat mass, a lot of red on the screen.
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investors. it is risky out of stock and bonds. that's the rotation we've seen for the 20th, 200-point drop for the year. for the dow, energy leading the way down. bp, conoco, oil is a commodity itself down by 3%. more concerned about china's growth rate out there. also concerned about the volkswagen founder of cheated. i'm very sorry. it goes against everything volkswagen stands for. we will be back in a moment. we live in a world of mobile technology,
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but it is not the device that is mobile, it is you.
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neil: who says that too late when it comes to the iran deal, dick cheney telling me scrappy right now. >> u.s. stick to the agreement. >> what i would do is i would scrap the agreement and lay down a list of nonnegotiable demands. but uranium enrichment, et cetera. neil: scott man, i like the wherewithal than in-your-face approach. i don't think that's going to happen.
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>> neil, thas for having me on. i agree it is a bad deal and does need to be scrapped. frankly, i just haven't seen a lot of evidence for many politicians on either side of the aisle lately that they will go back and take the hardline stance on anything when it comes to leading in the middle east. neil: what worries me is what put in iran and the unmanned drone flights and more weapons coming in there. especially to help deal with isis. i didn't get the feeling when meeting with benjamin at yahoo!. talk about bad body language. what he think is going on there? >> the absence of u.s. leadership in the region is what is going on. you look at the role russia is playing in the nefarious role iran is playing in yemen and iraq. from my it is an absence of u.s.
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leadership and it is spiraling out of control. the longer we stay out of the game and stick her head in the sand the more they will have an external actors come in and stir things up. we've got to take a more circuit rule and might even not world. neil: stockman, best-selling author. in the mean time we know the sad is keeping a close eye on stocks. so why are the presidential ruso candidates? and the rush i get, lasts way more than an hour. (announcer) at scottrade, we share your passion for trading. that's why we've built powerful technology to alert you to your next opportunity. because at scottrade, our passion is to power yours.
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20 times last year. talk about volatility. they think it can help us address that. peter, is that an issue and does not benefit to business persons in the race, notably carly fiorina and donald trump? >> they have to provide tangible solutions. they are simply not doing that. one is as politically incorrect as possible and the other making lots of clips about political correctness and tried correctness and trying to get women to back her. that simply doesn't solve the problems. it's just grand theater. neil: i will say carly fiorina is a pretty good singer. do you think that helps donald?
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>> yeah, helped michael bloomberg and harry truman. so that is the thing. people say carly fiorina had a terrible record at hp. it wasn't as terrible given the downturn the company was struggling under. that doesn't help to be an outsider this environment when the market turns down, the economy is down. >> it is much less their hands acumen that help cement a difficult economy or down market. i think it's more the outsider. when did we get this quote, unquote outsiders. ronald reagan was an outsider. when we were questioning ourselves, i'm a little older then -- maybe not you guys.
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anyway, i remember what the country was like. the same thing you said about president obama. a one term u.s. senator whose background was community organizing and occasional teaching a college course. neil: in that mix, i wonder why more candidates don't talk about the market. why should they. if the markets are having a serious temper tantrum and saying something about his low down or worse coming, maybe they should. >> they should use the turbulence in the market as a springboard to say things are not that good. the economy is shaky. here are the three, four, five things, tangible, understandable but i will do to make things better.
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what hillary is doing is putting together a new list of free studs. free college tuition. today was free drugs. what is it next week? they have to have solutions. neil: explaining up in the markets. >> sure it is risky. carly fiorina is now defending her record saying he have to consider hp with a dysfunctional company when i arrived in 1999. i am just given the fact. after six successive ceos who left within a year's time. neil: of tens of thousands of layoffs.
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>> she's got a pretty big hurdle. at one point she had to provide an economic vision, which he hasn't yet. on the other hand, she has to prove and i've looked at her record pretty deeply. i've done a column on it, lot of research. she has to somehow it winds the messy situation at hp. >> hang on, why wouldn't donald trump? >> donald trump runs a private company. she runs a public company. >> the process rather did double from 1999-2006. the profits double. neil: hang on. >> that we underperformed the market. >> carly's stock fell about 50% at a time when tech stocks fell
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about 10. >> the value was in two years time. hang on. hang on, the nasdaq recovered down 25%. >> apples to apples. >> you had the error at worldcom. neil: hang on, hang on. there will be no hanging on. more after this.
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neil: l we're down 240 points. keep in mind the pope arrives on u.s. soil at 4:00 p.m. the markets will have closed. this will be the starting point. that is what he has to beat. benedict holds record for papal visit. we're bottoms things out for pope francis if you look at it that way. he has almost nowhere to go but up.
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we a lot further points to go down too. you put it that way. the pressure on francis to keep this market as other pontiffs have to the plus side. if he doesn't, god save us all. trish regan. take it. trish: thanks, neil. everyone, we're 120 minutes away from the close of what is a pretty dramatic selloff. i'm trish regan. this is "the intelligence report." stocks sinks as investors worry about the global economy. they keep second-guessing what the federal reserve will ever hike rates. hillary clinton not helping things out here. biotech seeing big downside, dragging nasdaq lower as investors prepare to hear how hillary clinton would augment obamacare. that is coming up. teddy weisberg on floor of nyse and steve holland with me as well. teddy, this is a market we said all along is very dependent on


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