tv Bulls Bears FOX Business October 18, 2015 6:00am-6:31am EDT
answer to our question about examples of failure turning to success. he wrote your career turning success into fox. thanks kirk, it's good to be here at fox where you get to say what i want to say. glad i tried again. that's our show. see you next week. what we're doing here. >> thanks for having me today bye. >> thanks heather. >> is this a sign of pushing minimum wage to a maximum and causing maximum damage to the economy. this is bulls and bears and welcome to everybody. okay scott you have been warning about wage hikes and backfiring. are we seeing that now? >> yeah, it's in walmarts case
and the tune of $1.2 billion and that's just the tip of the iceburg. we're seeing it affecting the profits and earnings. did you see this and they will start to impact smaller businesses and start laying off. this is go have destructive affects overall. >> do you agree in. >> no. of course not. >> they did not factor in keeping the wages low is putting the taxpayers -- >> yeah, i want to point out that they have been above the minimum wage for many years. >> but they're known for the low wages and keeping the employees hours down, and that putting them on government on $2.6 billion a year. that's our tax dollars pay for the employees that are below the full time hours. when i don't you look at it.
>> it cost the company more and billions of dollars more for the turnover. it's going to work out in the long run and the people at bloomburg and all over the place have been saying this and it's broken and they have to fix it. >> yeah, it does have problems but it's facing these wage hikes, and you know to their credit and ceo is saying that the employees deserve the wages that they're being paid and hurting the bottom line. >> absolutely. i am glad that she feels that she can go in on walmarts business models and one of the greatest wealth creators in the united states. >> by driving out small business
the problem with the left is that they have never been in business. >> like warren buffet. >> let me finish. so they do not know thousand business works. this is how it works. that one dollar an hour wage increase for the walmart impacts and cuts the net income 37 percent because most of their stuff after they buy the goods is employee and people on the floor are selling. that's how much of a cut it takes. that money just does not -- it's not like i can't join this country club. the way that it works is that that money comes out of retained earnings. what is that used for? it's used to build more walmart stores and higher more employees. yeah, maybe the people get more and the future growth of the companies like walmart or apple or google is impacted by the wages and it ends up hurting the
economy. the left needs to learn that there's no free lunch. there is. everything should be for trfree and it's not the case. >> do you agree with gary or no that this is going to help? >> well, i think that there are a couple of different things going on at the same time. the famous one once said and if you were not what are you going to do about it. it's the walmart executives were going to answer the questions they would shake the heads and say no no no. the business model is under assault. i don want to blame walmart for it and it's 2 to the 2 million people. it's under assault and they're carrying a ton of real-estate and that's gigantic, and i think that people are going to take a hit and sadly the only flexibility that they have is to cut people. >> there's the issue of wages
certainly, but walmart is investing heavy into e commerce and how important are the wage hikes? >> they would be present is there was a wage. let's pretend that there's a sales. i can't think of a company that's better approximate positioned as walmart. we may see higher employment rates and this is on squeezing the supply chain to get the lowest prices. if everybody pays it, then the lowest prices are at walmart. everybody is going flood too and now prices are going up and then the consumer and what is hurting walmart right now is that they have too much money from the falling gas prices and stepping up to the better stores and read between the lines and walmart benefits from the consumer when
the nails are screwed over by the government raising prices. i see them benefits but consumers losing. >> walmart has helped by keeping prices low. >> yeah, they kept the prices low and ayou lollo one thing th don't get credit for, you can have a high school diploma or little college and be a manager. there are incredible kriers built by walmart and i take an issue in that walmart were has competitors that are digital. they have large and when you're competing against amazon and that's just a company that does not want to make a profit. it's really hard to continue to do what it's done. >> scott, let's broaden this out a bit. a new poll shows that eight out of ten people think that we have a long way to go before in
recovery. >> there's too much intervention and it's in a wage with numbers. that's what is happening. the government is getting involved in the private business and saying yes the economy is so so and growing, but we can help. as ronald reagan said, the government is the problem here. that's what i am seeing with regards as the government getting involved and take away the free market and force in the market in the case of wage hikes and other things that happen in the regulation, that's what is hurting the economy and holding us back from a full recovery. >> i think that you have it totally wrong. the people is that the wages are not low. i am sorry, but you're wrong about that one. there's vast income quality and bogged down by high student loan rates and people are traying to get out of debt. maybe the economy grew as a whole on wall street and ceos
are doing better, but people are hurting. they don't have the extra money. when you decide the rent or paying for meals for the week, that's a problem. >> so nomi the message has been that we're going to shrink the wage gap, and it's gone the opposite direction. those are failed policies. >> that's not a democratic thing. that's not politics. you have to give us pass by congress. >> not for the first half, we did not. >> gary? >> i like the old line that it's a recession if the neighbor loses the job and a recession if you lose yours. we have had two terms of this administration. we have a labor force participation rate that's the lowest that it's been in 38 years. that sums up why it stinks. if you want a job the best that you can do is take the part time
job and then you would throw up the hands and give up or you have to go back to school and rein ve rein vent yourself. that's one of the worst recoveries. no wonder people are throwing up the hands. >> that's the last word. okay. hey neil, what do can you have? >> donald trump em bratsibracin wel wealth and success. who has the right message for america? would you rather pay up front for the mail? chew on that. we will be seeing you at food for thought at the bottom of the hour. >> we want wait. up first the proof that the iran deal is a bad deal. iran deal is a bad deal. look n
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everything i buy for my studio. ♪ and that unlimited 2% cash back from spark means thousands of dollars each year going back into my business... that's huge for my bottom line. what's in your wallet? now back for more bulls and bears. i am uma. test firing a long range bo lis tick missile and one capable of delivering a nuclear weapon. that's a direct violation and why are we still going through with the new deal? >> i have no idea. i mean there's one word that comes to mind and it's humiliating and it's the second word predictable.
there are three audience for the illegal display for iran. the message is nah nah and then the the second issize r israel be afraid and then russia saying are you good. i think that it's the whole thing shows that the deal the new deal that we're going to sign is a display of gullibility and weakness. >> i love the humor there. the deal is not in place. we do have the inspectors there. under the new deal the number one thing that makes me support the deal is that we have inspectors on the ground and tracking the every move. if we don't have a deal, we don't have this. we have 90 other countries endorsing it. what are we supposed to do at this point. it's done and it's the best thing that's happened with iran at this point opposed to
nothing. what is the alternative not having the inspectors? >> i am not sure that we can get into them and they go everywhere. >> we can't. >> gary, the french are more in this than the united states. i know that will get you. >> this was done by obama. >> last time you did not say that i did it. >> if this was a republican deal, they would have hated it and it was awful. no matter what they do, why do we think that a country whose motto is going to say you know what, we could be friends and have a deal out there. look, they're going to be about -- i guess that's a word
as any other country out there and north korea they're going to put in the face and work around the field to make us work bad and get the hands on o it, and it's going to destroy us. if we want that, go ahead forward with the deal. >> isn't it possible that they let the video out to kill the deal and everybody in iran and look. it was built on something like improvement. just little small improvements and you have the best in the world. with that sad, it's possible that this deal is slightly better than the current situation. there's no good situation in the middle east. others can and then cannot get them in the country and it's not going work out. that's no easy solution and there are bad people there and good things. there's no great way out of this. anything that might slow down and the nuclear weapon is
probab probably. >> yeah, like we don't have the inspectors there. they're not going to have free range. they're going to go in the tunnels and check out the factories. no way. number two is opening the door for putin to walk right into syria too. this is destabilizing the area and not helping anything. >> yeah, just one thing that i learn second degred is that it greatest company in the world. i did not know that. a lot of them is made and they see the world and out there in the better place that's not how it works. we proved that with russia and
why we're trying to do the deals with these guys as susie would say is mind boggling. >> one last word for susie. they're flaunting that they're not going along with the old deal. >> yeah, the sad. >> okay. thanks guys. cashing in over an hour are for now. >> do black lives matter or do all lives matter? simple question but the answers are creating a fire storm, plus the same week that violence breaks out, the donald say that is he needs secret service protection. cashing in the debates at 11:30.
>> thank you eric. up first it keeps on happening. another computer glitch and time to spend whatever it takes to to spend whatever it takes to stop this from at ally bank no branches equals great rates. it's a fact. kind of like shopping hungry equals overshopping. technology empowers us it pushes us to go further. special olympics has almost five million athletes in 170 countries. the microsoft cloud allows us to immediately be able to access information, wherever we are. information for an athlete's medical care, or information
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down for 90 minutes and then a glitch in the southwest and causing chaos and we saw similar problems earlier this year and then susie it seems like the airlines better do more fast before something horrific happens. >> yeah, it does not seem like that and then the impression that we really do have great people and this is actually whether that's true or not, we don't know. this is a battle of the brains and i am concerned that the u.s. government are not getting the best, and we talk about the terrific outcome and there's a complexity. one of the really bad outcomes along with the deaths is that if the travels go down and if this continues on that's the global economy, and so it's the pile upon piles of bad news if we don't get the best phrase of the game. >> yeah, you just say get the government out of this. >> exactly.
look she talked about the brains. the best way to do that is prioritize it. it's like that's wacky. well, they should love this. they prioritize all of the security and screening at the airports. that way you get the innovation and you get efficiency like you do with the private enterprise. you go public and throw big government and throw up a big problem, this is what you you get. >> okay. gary says they would love this. >> i don't know what left would love that. listen the companies and government and everybody is vulnerable. it was just announced today that russia hacked into the government again. this is happening every single day, and we do need the brightest minds. we can not use them for the gom, and we have to compete with the facebooks and twitters that cannot keep up with the security. you're totally right susie. this is a congresequence and ev
time there's a glitch, there's someone that miss a job interview. it affects the economy every single day. >> i'm sorry. we have to move it along. >> yeah, they do the development to the companies and the problem is the very best talent is not with those companies and they're figuring out ways to track the groceries and that's the best development and not tracking the terrorists. we have to see a way to get the talent in a way and the jobs do not have the sock options. >> yeah, that's what you can do. you can get the government to partner up with the tech plan and they clearly need help and everybody wants us to be safe and protected. >> okay. thanks guy. for joining us. we appreciate it. the worst excuse for missing work that you will ever hear, and how it can help you quit work for good.
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you can't breathed. through your nose. suddenly, you're a mouthbreather. well, just put on a breathe right strip which instantly opens your nose up to 38% more than cold medicine alone. shut your mouth and say goodnight mouthbreathers. breathe right predictions, gary you're up. >> brenda long time viewers are familiar with the smith indicators. when i start today use the product of a service, the stock goes up. i started o shop at walmart and sam's club, and they're up 30 percent. >> are you a bull or bear? >> total bear. >> your prediction. >> turns out that many of you calling sick are blaming on grand mom giving you a bad sandwich.
>> bold or bear? >> bear. >> what do you like? >> driving and eating has taken a leap forward as when they deployed the auto pilot to the drivers of t t t t the luxury c. no more fries in the street. >> all right. french fries and neil is next. almost. think quick. what is the difference between this. >> turned out i was much rich er than anybody thought. i built a great company. that's important. that's what we're going to do. we're going to use the mind set to negotiate the trade deals and create jobs and do so many different things and we're going make america great again. and that's my theme. make america great again. >> begin to stand up to o the billionaire class. >> protect them from the