tv The Intelligence Report With Trish Regan FOX Business October 2, 2015 2:00pm-3:01pm EDT
a container ship missing at sea. the coast guard says it is carrying 33 citizens. 28 from the united states, five from poland. the ship is disabled. doesn't mean it is sunk. means the storm could have knocked out all the equipment, still searching for it. joaquin, the problem. caught in rough seas. trish regan will keep you posted. trish: you bet, neil. thank you very much. losing ground to a russian thug, economy not adding jobs, is this the 190's all over again? i'm trish regan. welcome to "the intelligence report." we have full coverage of russia's attempt to humiliate the united states in the middle east. is this deja vu, jimmy carter all over again? think about it internationally we're weak. like late 1970s, prereagan. we're effectively handing over middle east to vladmir putin as russia tries to kick us out of syrian airspace. meanwhile our economy going down in the history books as the worst postwar economy on record.
hey, carter had more growth than this. took a look at these numbers. today's employment report shows we added 142,000 jobs last month. you know what? that is not enough. wages are going down. people are working fewers hours, if they're working at all. anti-growth policies of president obama are catching up to our economy. who is the person to fix it? douglas holtz-eakin, scott brown, amy cox join me with answers. i want to go to blake burman with reaction from the white house on the jobs report. blake, what is the spin on these numbers? >> reporter: here is another way to look at numbers, trish of 142,000 jobs create inned september. that is 30% below what analysts believed would be created. white house top economist pointing to unemployment rate remaining same at 5.1%. quote, there was strong dough mess thick growth. the key word there is domestic.
jason fuhrman when i spoke to him, tried make argument china bears some responsibility along with global uncertainty. here is what he said. >> over the summer the events in the rest of the world and china did have an impact on the u.s. economy. saw lowered job growth. overall unemployment rate remains very low. >> reporter: however the labor participation rate dropped to 62.4%. that is a 38-year low. fuhrman calls that demographic story we've known about and have been preparing about for decades. republicans were kick to jump on weaker-than-expected report. house ways and means committee chairman paul ryan writing just after the report was released, quote, this just isn't good enough. flat wages, weak job growth and far too many people simply giving up. this recovery, he says continues to disappoint but we can't accept it as the new normal. trish? trish: thank you so much, blake. i want to get to my panel.
i will start with douglas holtz-eakin. i want to talk about the labor participation rate, the lack of labor participation we're seeing. in other words number of people going to work or want to go to work right now. it is stuck at a level we've not seen since 1977. you heard blake tell us, jason if you recall man and white house say this is all demographics. is it something more? >> it's got to be something more. you know that the baby boomers are going to retire. so you can predict part of a decline in workforce participation but this is precipitous drop. employment to population ratio is below than it was at start of the recession. americans want and need work. look at dividing line between poor and not poor in america is having a job. these folks have given up on possibility. that is troubling aspect of very bad report, from stem to stern. this is not good. trish: wages going down. no inflation to speak of in the economy.
5.1%, administration says, hooray, 5.1% unemployment isn't that great. scott brown, 5.1% it ain't what it used to be. that number really doesn't affect enough wage growth to sustain a family in america today. >> well i think, we've seen a pretty significant drop in the unemployment rate but you're right, a lot is due to lower labor force participation. the numbers we got in september, you had a big drop. most of that is outside the key age cohort. look at age 25 to 54, participation rate held steady. you get a lot of seasonal adjustment issues in september with start of the school year. it distorts a lot of household survey data. distorts a lot of non-farm payroll data. look at unadjusted numbers, added 5.1 million jobs in education. prior to seasonal adjustment. that is about what we added to education both public and private.
but if you look. trish: 24,000 of those 142,000 jobs were government jobs. yeah, hey great to have a government job. who wants to not have one. >> can i finish? trish: certain guaranteed paycheck. let's face it. you're just adding government jobs as bulk of this or a good percentage i should say, jamie cox, of overall growth number, you have got what i would call a real problem. there is no real growth trajectory on the horizon. we don't have an industry out there that is going to really help to propel us going forward. and the fed, it has done everything it can. >> well, i don't know if the fed has done everything it can. i mean, i think we rely on government and fed and all these kind of things to sort of save us from ourselves when really we need to be the ones to say, look at small business, small business people create jobs. they do the best they can. i think government could do a lot to help get out of the way, reduce regulations make it where it is easy for people like me and others with small businesses
to create and employ people. i think what you also have to look at with labor force participation, you miss out on the wave of technology that comes in, sort of changes nexus how you employ people. trish: in other words we're going through pretty dramatic change in the overall economy. so i want to know douglas, when you look at field on both sides of aisle, who is it coming in effectively to be the ronald reagan that saves us from jimmy carter? >> i don't think there is anyone in the presidential field on democratic side that will do that. trish: they just want to tax, right? >> just soaking rich. if you look at republican side, there are pretty good plans put out by marco rubios, jeb bushes to jump-start growth. trish: marco rubio. what do you think of donald trump's tax plan? >> there is some good stuff in there but there is some really perplexing stuff as well. trish: like what? i thought it was pretty good, i got to tell you. simple, four rates, you know. 25% is the highest.
i like the sound of that. why penalize people, he is penalizing people more than he would if you don't make anything but not as bad as we got now. >> low rates are good. but this one doesn't pay the bills. he is has not put forth any -- trish: douglas holtz-eakin, i know that you know, i know that you know that if you lower rates, doug, you can grow the economy. >> there is no doubt about that. but he is promising instead of fixing entitlement programs not cut a dime out social security and medicare. that is completely unrealistic. it won't add up. trish: you're talking some sense in terms of the bills that we've got to pay and entitlement programs we are going to have to deal with. that is important. >> yes. trish: jamie, when you look at the field right now, again i will ask both sides of the aisle, who do you think is going to help us get out of this economic mess? >> i don't know, you know, if any candidate, or herself can
get us out of this mess. this is a lot bigger than the president or who will be the president. you need both sides working together. because if you -- trish: that comes from the top, right? you need a good manager. >> not necessarily. trish: you need a good leader. >> you do, but you need compromise. that is what we're missing. you can't have hard-line on left and hard-line on the right you get absolutely nothing done. uncertainty with policy, legislative policy creates this freezing where we can't move forward in business. we can't, pass continuing resolution, continuing resolution two and three months a time. we need policies lack for a long period of time. give us rules to play by them. >> we need lower corporate taxes. we need a lot of things to help us out of this malaise. scott, jamie. doug, stick with us. i want to point out we have a big interview coming up for you on monday, carl icahn, billionaire carl icahn is talking to us exclusively. he is told me he is supporting
donald trump. i will ask him about that. a lot of views on a lot of other candidates as well. he will be able to tell you just exactly where he thinks things are heading. unfortunately it is not so rosy. 2:00 p.m. eastern. on monday. we may be reliving history. this quote from jimmy carter's state of the union address. we have no desire to be america's policeman. he wants to be america's peace keeper. cooperation with the soviet union serves cause of peace. from the state of the union, 1979, jimmy carter. fast forward to this past monday. listen to president obama saying rather similar thing. >> while military power is necessary, it is not sufficient to resolve the wages in syria. lasting stability can only take hold when the people of syria forge an agreement to live together peacefully. the united states is prepared to
work with any nation including russia and iran, to resolve the conflict. trish: hmmm. yeah, you know what? that was 48 hours before russia tried to kick us out of syria. today, vladmir putin is in paris, meeting with french and german leaders defending airstrikes, once again claiming he is targeting isis. that's it. douglas holtz-eakin with me. putin is out there saying no, no, i'm just taking care of isis. something more going on here. >> interesting to draw comparison back in the '70s with carter. trish: you like that. >> that those who don't learn from history are doomed to repeat. the only thing leaders in russia understand is power. moment you show weakness they will step in. vladmir putin is the mob boss leading russia into the middle east, into syria. new axis of power created under our noses from moscow, damascus,
tehran. we waffle on and dither, wait a minute. it is happening as we speak. trish: this guy is who very systemic in his approach. who for decades wanted to restore quote, unquote greatness of the soviet union. this is been his mission. >> it is. they have the deepwater port that is very important to them for the black sea fleet. they have only major one outside of former soviet union. military base is there. iran is their biggest alley. need syria to funnel weapons to hezbollah. the longer we do nothing it will be harder and harder to undo. trish: douglas holtz-eakin, we're economically weak. we're weak in terms of overall international presence. our military. he is effectively humiliating us there. is this a direct result of the last seven years?
>> no question about it. pentagon says most important thing for national security is strong economy. where you get resources to spread values around the globe. this is directly from the vacuum that barack obama has created in middle east. he hasn't pursued american interests. he drew a red line in syria. didn't do anything. said assad has to go, didn't do anything. doesn't talk to our supposed allies. suddenly egyptians are talking to the russians again. leaves vacuum in iraq. isis. you add it up. it is unbelievable. trish: i want to talk to ashley. i would argue what is at stake balance power in the world. >> certainly shifted already in the middle east. you're absolutely right. and it is very dangerous time. longer we sit on the sidelines and try to have more meetings and you know this, weak approach, as doug just said create advantage couple in the first place which mr. putin said thank you very much. he now knows he can act. he took advantage of us in crimea. he is doing exactly same thing now. he will continue to do it.
because he knows he can get away with it. trish: may not just be that area. >> no. trish: basically all of europe can be distracted by number of refugees coming in out of syria. >> of course. trish: you wonder if he will try to take advantage there. doug, talk to me about, told you about this before, i'm a student of history. i like looks historical context. there is a lot of you can learn. to a certain extent we've been down this road before? >> well, think about the history here. this is the first time in 50 years. trish: i'm sorry? >> this is first time in 50 years that russia has done this kind of intervention in a country not neighboring. so this is an historic moment. vladmir putin has made the very simple calculation that he has more political support at home to support assad than there is political will for the u.s. to oppose it. trish: by the way, he is increasing, ashley, his political support at home with
every single one of these moves. >> anyone who dares to oppose him will be shot. it is great to have high popularity ratings in russia. you don't have a choice. trish: i want to come back to something, because i do believe economic uncertainty breeds political uncertainty. >> of course. trish: but it's a little bit different here because he is using the economic uncertainty there and malaise to gin up political power. we have seen unfortunately this sort of thing happen in history before where you really motivate your base, you motivate those russians by saying you know what? it is the west's fault. >> well -- trish: hey, i'm gaining you all of this territory. >> the greatest smoke screen and most effective. his economy at home is dying. oil prices are killing his economy. it is in terrible shape. what better way to raise nationalistic feelings to start engaging foreign countries overseas and gain land at the same time and seem to be a strong leader around the world.
trish: we have always been the hedge monic power in the world. there is a certain amount of responsibility and duty comes with it. this administration ignored that. ashley, doug, thank you so much. >> thank you. trish: coming up former new york governor george pataki would do with vladmir putin if given a shot. hurricane joaquin is expected to hit the east coast over the weekend. there is a cargo ship that has gone missing with 33 sailors on board. we're monitoring this developing story. we have new details with us. see you right here in two. ♪
trish: education secretary arne duncan will leave the post in december after seven years with the administration. we'll hear from the president on personnel changes happening the next 60 minutes. he is supposed to take questions from reporters. we're most certain he will get questions about vladmir putin, syria, situation in oregon. we'll take you there live at 3:30 p.m. eastern. switching gears, the east coast is on hurricane watch. the storm expected to hit shores by this weekend. we're monitoring cargo ship that has gone missing. it was traveling from florida to puerto rico. it had 33 sailors on board the ship. officials said the coast guard has not been able to re-establish communication with the vessel in the last several hours. joining me right now, is meteorologist rob real. rob, one would have to think in this day and age, there is update with enough information out there, if you're running one
of those cargo ships you would be able to tell there is serious weather event coming? >> certainly not sure why he was traveling out there. we are talking about a category 4 hurricane with maximum sustained winds of 130 miles per hour. the forecast around here certainly has been questionable the last couple days. but it has been known for quite some time, that it will be rough seas out there. trish: we're looking there at the hurricane. it is near the bahamas. expected to come up towards the east coast of united states or we hope go out to sea. what is probability of either? >> right now we're heavily leaning toward out to sea forecast. still need to be on watch for some of us. almost 90% certain this thing will stay out there. trish: kind of out to sea, do you run the risk, we saw on map could potentially be category one or might we be in the clear? >> pretty much in the clear. 90% we're in the clear. this thing never makes direct landfall on east coast. trish: i certainly hope. just a lot of rain here in
new york, right? >> absolutely, a lot of rain. there will be effects up and down the eastern seaboard,. coastal flooding. >> wind? >> winds 40 miles per hour in new york city along eastern seaboard. that is not associated with the hurricane. if there is going on, a ton of rave. trish: when will it kick into full gear? raining outside of new york right now. >> here, not too bad of impacts. today is almost worth of it for today and tomorrow, new york city. friday through sunday, places along the eastern seaboard, could experience coastal flooding. up to a foot of rain in parts of south carolina. >> rob, thank you very much. >> absolutely. trish: jennifer lawrence says donald trump presidency would be end of the world. another example of hating the gop in hollywood? why do they always get so political? we're continuing to get more information right now on the tragic shooting in oregon yesterday. very latest on gunman victims and what is next for the town. stay with us.
trish: we are getting new information on the tragic shooting at the community college in oregon that left 10 people including the shooter dead, seven people injured. three victims still in the hospital. we're being told two are in stable condition and one is moving out of the icu today. meanwhile six firearms, including pistols and rifles were recovered at scene. seven weapons were also found at shooter's home. joining me is fox business's gerri willis. this is a guy who was 26 years old and apparently had quite a gun collection. >> absolutely. three of those guns were hidden away on the campus, not with him. he had them hidden away to use
them later. he was carrying three guns. he had seven in his apartment. this was a guy who clearly was preparing for armageddon what it looks like. >> had permits and proper registration? >> looks like they were legal. most appeared to be legal, no question about that, according to reporting that i have seen. they were registered in his name. registered in his mother's name. we also found a suicide note. he said he was depressed and, i can't tell you the details because i don't believe the suicide note itself has been released. trish: there was some indication he was actually talking about this on line. >> there is a lot of talk on social media and suggestions that, you know, he had put up stuff about the ira, irish republican army. also terrorists in ireland, he apparently felt a kinship with those people. also talked about organized religion. how he didn't like it.
trish: apparently asked each of these victims their religion before he shot them. >> that is what is so appalling about all of this. you put your finger on it, when you mentioned that. this is eyewitness account, okay, that i read. the young woman says that they were lying on the ground, pretending to be dead, he asked some of those folks their religion, they said christian, he shot them again. trish: such a horrible story. gerri willis, thank you. we'll shift gears. now that candidates filed candidate finances for last quarter. who has the best chance here? is it trump, is it bush, is it clinton? they have likes of millions of dollars. what about carly fiorina and ben carson. we're following trail all the way to the white house next. we'll see you right here. ♪
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put under a microscope, we can see all the bacteria that still exists. polident's unique micro clean formula works in just 3 minutes, killing 99.99% of odor causing bacteria. for a cleaner, fresher, brighter denture every day. >> bernie sanders, everyone. he is not only catching hillary clinton in the polls. he says he collected nearly as much cash from small donations as the front runner did. sanders raised $26 million in the last three compared with the clinton campaign. it took hillary 110 fundraisers
compared to just seven with mister sanders. meanwhile, on the republican side, it you have the outsiders. carson's campaign says a total of 31 million since may. will the money raised the will forces the next candidate to drop out? do not forget, if you do not have money, how can you compete? how'd can you campaign? moving to georgia from sanders. >> i certainly cannot say, i am not absolutely shocked. >> you are shocked?
>> double negative there. we would not have expected this to happen. certainly, it is a difficult summer for secretary clinton. when she launched her campaign, she was very clear that she would run as if she was running from behind. i do not think that this was as much of a surprise or something that they will not be prepared for. >> a designated one. >> someone who has maxed out her campaign, i do know that there is a difference at out they actually raise their money. seven fundraisers on his side here it his contributions are coming from low dollar donors. this is not something that i think they are donors will freak out about. >> brad blakeman joining us as
well from d.c. what is your take? getting hillary clinton a run for her money. no pun intended. >> this is déjà vu all over again. an obscure state senator that becomes a u.s. senator. barack obama comes out of nowhere. she totally threw her cash. burning it. bernie is saving it. >> i do notthink that -- >> more and more and more to the left. i think that he is probably as surprised as you at the success that he is having. >> he is quite comfortable here.
i actually think that he is very serious about his candidacy. also very serious. the secretary clinton. they are not taking anything for granted. this is not a repeat of 2008. this is the media wanting a race. >> cnn will give joe biden up until the 11th hour. why? it would be much more exciting. you are quite right. the media would like to see more attention in the race. a lot of this comes down to likability. for whatever reason, they were waiting. far more than they did to hillary clinton.
>> you have to like somebody and trust somebody before you ever get the policy. where hillary is really showing some real problems is the fact that american voters and democrats, especially, are starting to not trust or like as much as they like joe biden or bernie sanders. bernie may have gotten in just to show hillary trouble, but he is really catching on. he is a real challenge to any democratic taking the nomination >> let's not forget who we are as a nation. $20 million. why then carson? what is it about him right now that has people so enthused?
>> the bernie sanders of the right. the dissatisfaction. an insider. he relates to people. he is an outsider. >> they think that he is a nice guy. let's not forget. >> he does not speak like one. >> outsider like. that is what is holding so much appeal right now. >> i want to get over to donald trump. >> i think it is totally
refreshing. >> i do not think that there is anything refreshing about donald trump. with republicans right now, this is not the year. this is the summer of the stick it to him voters. that is who is getting the attention. the candidate who is ready to stick it to them. whether it is washington, the media. i think it boils down to entertainment. when you get closer to the general election. it is not about likability. it is who will keep it safe. who will build the economy. >> you said 100 donations. thank you so much. do not miss donald trump tonight. he will speak with charles paid right here on fox business. 6:00 p.m. eastern.
do not miss it. we have been talking about money. you need some, you get less than 1%. he will tell us why. that is next. ♪ here at td ameritrade, they love innovating. and apparently, they also love stickers. what's up with these things, victor? we decided to give ourselves stickers for each feature we release. we read about 10,000 suggestions a week to create features that as traders we'd want to use, like social signals, a tool that uses social media to help with research. 10,000 suggestions. who reads all those?
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a weak jobs report. fewer jobs than anyone had anticipated. 142,000. the unemployment rate staying steady at 5.1%. orders following in august by the largest amount in eight months. down nearly 2%. manufacturing has been under a lot of stress as the strong dollar has hurt sales and energy prices have fallen. it has all taken its toll on the economy. coming up, my interview with george takagi. why the heck he is still in this race. ♪
>> already. we have another four months. candidates need money. earlier i sat down with george takagi. the whole process of having to call up donors. getting them to give you funds. >> i tell you, people go to me. how do you do this? isn't it hard. you are running for president of the united states. what an incredible privilege. what an honor. i do not think it is some horrible demand.
leaving the greatest country in the world that is ever known. making things like phone calls for money that you do not like to do. it is part of the process. it is an honor to be part of that process. >> you say that you want to continue going forward. you are not doing so good. >> -- >> okay. all right. >> you know, i honestly do not worry about it. if you believe about your abilities to govern and believe about your ability to bring people together, you cannot worry about where you are, you worry about where you are going to be. >> the first primary is four months off. the appeal of outsiders from washington, i share that belief.
washington is in inside, corrupt game. i never had a job in washington. i never wanted a job in washington, except president. >> is it because you are the moderate in all of this? >> i think part of it is if you say outrageous things, the press loves it and you will get on tv. part of it is money. i have not held public office for eight years. my name is not bush. i do not have a household name. i am a great believer in people. i am a great believer in retail politics. small group i small group. hopefully, it will work out. there are no guarantees in life. i am hopeful. >> a presidential candidate. vladimir putin. what is your reaction to this
news? he is going in and telling us to get out of the way. >> is president, our president has been a disaster. a disaster for our friends, a disaster for the people that believe in rule of law and a disaster for american interest. giving him too much credit. it is like the united states is not even there. putin now launches attacks against american supported moderate anti-assad forces in serious. our reaction is john kerry says i condemn this in the harshest possible terms. it has been about for years now that we have continually condemned everything. we engage in words. they use bullets. >> we do not necessarily want to use bullets. >> words do not matter unless people believe that you will stand behind it.
>> why should we have to do this? >> right now the absence of anti-terrorism is iran. the number once bonds third is assad. and russia. this is utterly absurd. it is not an american interest. it is not people who believe in freedom's interest. i do not think that we should go over and try to create democracies all over the world. we have to protect our own safety. >> you are in it. you are in it for a while. >> i am not going to pull a scott walker. i have led a save for 12 years successfully as a conservative. i know i can lead washington. confront the problems that we have. as opposed to just having ideas
that never get done. >> good to have you back on the show. our rate, the markets have been on a wild ride today. disappointing september jobs report. what you need to know before reclose out the week. hey, donald trump. he is a celebrity like them. my intel coming up. ♪ the internet of things. what we're recommending as your consultants... the new consultants are here. it's not just big data, its bigger data. we're beta testing the new wearable interface... ♪ xerox believes finding the right solution shouldn't be so much work. by engineering a better way for people, process and technology to work together. work can work better. with xerox.
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turning? is that why the dow is up 66 right now? >> it is a little bit of it. bad news is being read as good news. looking for central banks to bail out the markets. we are seeing this in europe. the reserve bank was cut. a slow growth world. investors best friend is a central bank. >> the 1970s. think back to the jenny carter years where actually, believe it or not, we had an economy growing more than it was under president obama. a very weak situation. also, a very weak situation. how we will perceive the international space.
a lot of similarities there. is the difference between inflation back then -- >> the split that we have seen between how the economy really looks with what the markets are doing is completely different. >> tell me about jimmy carter's administration. tell me about the economy than in the difference between then and now. >> remember that the economy really was slagging back then. what is slightly different areas that we have zero inflation now. we do have growth in jobs not where we wanted to be. there are cars being made. people are buying them.
>> who cares. we have cars being sold. that is wonderful news. cash is cheap. it is not fundamentally changing anything. stagflation was the situation then. right now, we are potentially looking at the inflation. the fed, how did they fight something like that? >> exactly what the market is afraid of right now. we are certainly seeing disinflation. the bond market is telling you, the next 10 years, less than 1.5%. that is exceptionally low. >> if inflation is nowhere, why do i need to do anything today? i can postpone it until tomorrow. next month. next year. there is no expectation of
prices going up. no confidence in the future. >> i think that it is overstated a bit. i get your point. a lot of cash on the sidelines right now. it is hard to imagine the market gives up with multiple expansion. to go up, you need higher nominal gdp. >> here we are back in the situation. we watch the markets powering higher today. okay, money is cheap. i continue to build up assets. i do not think, i have written over and over again on this. i do not think that the federal reserve will move on interest rates. thank you so much. good to have you here. liz, we will see you at the top of the hour.
one man that may be able to make sense of this volatility and the sluggish economy, someone who is very critical of the federal reserve. joining me at 2:00 p.m. eastern. billionaire investor karl icahn. he has a lot of thoughts. he is putting his money behind donald trump. karl icahn is bringing his support. he has been talking at length with donald. we will hear more from karl icahn. speaking of trump, well, if he were to become president, that would actually be the end of the world. jennifer lawrence. why they just cannot stop painting on the republican party.pe of irregular next. not caused by a heart valve problem.
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a quote, if donald trump becomes president, that would be the end of the world, jennifer lauren, a long list of hollywood stars hating on trump, it is interesting to me how much hollywood likes to weigh in on the political process, people buy tickets to their moves, liz claman to you. liz: thank you, you know, a free country, we'll weigh in on everything, in particular the markets, breaking news, markets reacting to september jobs report, we part, right now of a swing of more than 300 points from the open this morning. to at this hour, one hour before the closing bell rings with dow jones 43, we're just positive for the week. but the asneakic september -- anemic september jobs report may mean that any rate hike from federal reserve is on ice, as of right now, but would it mean no move for the year?