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tv   Countdown to the Closing Bell With Liz Claman  FOX Business  November 3, 2015 3:00pm-4:01pm EST

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moderators! [ laughter ]. trish: all right, that was president obama there taking some shots at the republicans at a democratic fund-raiser here in new york just last night. but you know, if you recall back in 2007, it was the president who was pursuing the democratic nomination at the time that actually skipped out altogether on the debate due to some of his issues with moderators. liz claman taking it into the close. see if we can hit 18,000. liz: how about that? dow 18,000, just a few feet ahead right now. oil and fabulous monthly sales driving the markets higher. oil up just under 4% sending the dow jones industrial average at this hour up 133 points. by the way, the s&p within spitting distance of all-time high. the number to watch 2130. we're at 2114. also flying higher, ben carson's presidential campaign, taking front-runner status away from donald trump in yet another national poll leading
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by six points in the latest "wall street journal"-nbc poll. that news comes out the same day that donald trump rolls out his new book, crippled america. kind of lacks political substance but makes the case a businessman is more prepared to handle the case before the politicians. it will take place right here on fox business. we will be asking the questions about jobs and the economy that you haven't heard in the previous debates. so today, we are bringing in some of the nation's top economic minds, real original thinkers, business minds to tell us what they think should be asked at next tuesday's debate. former michigan republican congressman pete hoekstra, former acting congressional budget office director don maren and peter schiff all here. all exclusive. the burrito freeze continues.
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43 chipotle stores remain closed today after the e.coli scare yesterday. this just as the centers for disease control release a shocking report about the safety of american food and the food chain. you need to have it, we've got the live report. we gear up for earnings after the bell. we have the two people who set a record traveling cross country, hands free in electric tesla using the auto pilot feature, the fox business exclusive of the gutsy and sometimes hilarious story. look ma, no hands! you're in the right place, let's start the "countdown." whoa, whoa, whoa! 17,950, the breaking news is we are bearing down on dow 18,000. we are watching this closely. just off the highs of the session. the dow is up 121 points. anything can happen at this
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hour, but i need you to keep an eye because i will too for you, that's what we're here for, the s&p 500 very close to the record close. we're at 2112. look at yields on the u.s. treasury, ten year hitting highest level in more than a month, yielding 2.22%. as investors lighten up exposure on bonds and pile into stocks after the fed indicated that the december rate hike is still on the table but there is so many guessing games going on and people think pushed to 2016. we are exactly one week away from the big republican presidential debate right here on fox business. we got a debate and we are going to tackle the biggest issues that matter the most to you. our business viewer voters, namely, the economy. so it's been and i think you agree with me on, this it's a slightly confusing picture, on the one hand for six months now
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we have seen killer auto sales. more coming in today indicating we'll see 18 million annualized sales this year, and you got tech outperforming but you meld that with the alternate reality, weak manufacturing sector and ridiculously low labor participation rates, that tells us the story of the yin-yang recovery. too slow over the past eight years, we're bringing in three original minds on the economy. pete hoekstra former republican congressman from michigan. don maren is the former acting director of the congressional budget office, and a member of the president's council of economic advisers, you cannot pull out the wool over his eyes and peter schiff, also a contrarian thinker, the author of the real crash, america's coming bankruptcy. okay, we have the malaise versus the vibrancy. great auto sales numbers, that means a lot to you congressman
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hoekstra coming from michigan, we have a very, very slow recovery. what do you need to hear from the candidates that you haven't heard about shaking out that block knowledge that is in the dam of opening up our economy to stronger days? >> i think fox business has an opportunity to go after the tough issues. the question they would ask is the day that you're sworn into office, america's going to be approaching $20 trillion of debt. is this a problem? how are you going to fix it and be specific how you're going to address this looming crisis on the horizon. liz: you know, you'd hear a lot of the candidates, don say, look at my tax plan, i'm cutting taxes and closing loopholes and presto changeo we're going to have a better economy. does it always work like that, don? >> no, hard to make it work particularly when you have to get things through congress and you see what comes out at the end. at the moment the plans are by
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and large, large tax cuts, continue to be large tax cuts if you take into account what's going to happen to the economy and the good state of world under them. going back to the congressman's question, difficult to see what the plan is for getting debt under control. liz: throw out chris christie's plan or donald trump's plan, i'm sure you have parsed some of these, do any of them come out revenue neutral? >> i'm sure i haven't seen any that are revenue neutral. liz: that is breaking news, don marron is right down the middle, you worked for a republican president, you are at the cbo. this is an important moment and you look at what the people are putting forth. how would you hold the candidates' feet to the fire? >> the cost of government is not what it taxes but what it extends, the democrats are about something for nothing, but republican candidates who talk about tax cuts without corresponding spending cuts, it's something for nothing. the candidates need to be asked what government programs are they going to eliminate, what
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spending are they going to cut to make the tax cuts possible? otherwise it's more deficits. all the candidates stump and you go to the websites, they're all in favor of a balanced budget amendment. that's because none is never going to pass, as president they're not going to enact a balanced budget. i would ask the candidates if you were president would you take an oath now not to raise the debt ceiling or suspend it the way they did in congress under any circumstances and force a balanced budget on congress right now? liz: one comes before the and other it starts snowballing because if you hit the debt ceiling, you can't go backwards with the budget, you've got to deal with the budget. you've been there congressman, you've been there trying to get a balanced budget together and the one time we had the surplus in recent times it was under president clinton and a republican congress. can we get that back? >> i remember when i first got into congress, 1993, i talked about balancing the budget. people laughed.
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by 1997, 1998 we got there through a couple of steps. number one we reformed government. republicans and democrats worked together. we got the economy moving, we restrained spending, cut taxes, but the most important thing is the economy grew and as difficult as this is to believe, government started getting more revenue coming in than what it could spend, that's why we balance the budget. the bottom line is business had confidence in where we were heading, long-term, so they felt free to invest. liz: don, is it enough to say, all right, tackle the tax code which seemed so easy. president obama wanted to lower the corporate tax rate to 28%. and paul ryan wanted when he was running the committee, he wanted it to 25%. can we not meet in the middle? is that not the answer? i am questioning you, you are the ultimate numbers cruncher, would that be enough to stimulate the economy? >> see, that would definitely
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help but as you said it's something the congress hasn't been able to do. while everyone grease the corporate tax rate ought to come down, there is enormous disagreement how to pay for that. until we have some way forward on the front -- >> do you buy the let's close a bunch of loopholes, chris christie said let's close them, everything but the mortgage writeoff and charitable giving, and everything else closes. that's so easy to say, and i admire that, but you've got lobbyists who are pounding washington, right, don? >> right, the things that people call loopholes are broad-based tax breaks. there's no way politically you could roll back tax breaks on the individual personal code and use them as a way for cutting the corporate tax rate. you can't raise taxes on people in order to cut taxes on multinationals. and the tax breaks that multinationals get have defenders and it's hard to put together a list of those that you can enact in order to pay for lowering the corporate tax rate.
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liz: peter, you have picked apart budgets. you watched all kinds of behavior from politicians, what is the easiest thing, this would be my question. what is the number one thing that people could do, the candidates could do without spending a dime of taxpayer money to stimulate the jobs growth here in the u.s. >> what we have to do is stop all the artificial stimulus that let to one bubble after another. other guest talked about the balanced budget in the 1990s, that was a fantasy based on the dot com bubble, you remember reporting on that, back in the early days. the congress is flush with revenue from a bubble that burst in 2001. liz: at the time it was real, wasn't it representative hoekstra. >> it was not in longevity. people extrapolated the projections, we need a real economy, not bubble blowing, not 0% interest rates. liz: yahoo! still exists, yam. some of the things that did get a little frothy are around, do you agree with peter? i'm sure you do not.
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>> i don't. it was a real surplus. trend lines were all moving in the right direction, if we would have continued economic growth, continued reforming government like we did welfare, like we did the tax code, we could have sustained recovery and moved beyond the bubble and so no, it was a real deficit. government was working and washington was working and working in the right direction in getting things done, and we can come back to that, come back to that scenario. >> it wasn't real, at the time when people were forecasting surpluses as far as the eye can see, i said that was nonsense, the deficits are going to come back and came back huge. liz: george bush started spending and barack obama took that baton, correct, donald marron? >> it was multiple factors. peak forecast that showed the surpluses were at the peak of the bubble. when the economy turned down that brought back deficits by itself and made bigger by tax cuts and spending. liz: you can't control the headlines, you never know.
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great to have you all. this has been a great team. i want you all back, pete hoekstra, don marron, thank you so much. peter schiff, a pleasure to have all of you. please, make sure, you all agree fox business is going to kill it, right? >> the bar is pretty low at this point. [ laughter ] >> that is true! our bar is very high, yours should be, too. set your clocks or calendars, tivos, dvr's for november 10th, the next republican presidential debate it will be on fox business, trish, sandra, maria, neil. >> and you should have been there. liz: we will, team "countdown" is going to do the two hours leading up to the closing bell and then lou and neil, maria, we're all going to be there, everyone here has unbelievable experience, and we will not let you down. the closing bell ringing in 48 minutes it. all happened so fast. from one report written by a journalist to suddenly shutting down a huge pharmaceutical business? the pharmacy at the center of
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the valeant scandal now closing down. that news breaking today. we brought back the reporter who broke the story wide open days ago, charlie gasparino tells us what happens next. tesla takes the wheel. tesla's autopilot function put to the test by these people on your screen. cross country, you're going to meet the couple who set the coast-to-coast record with hands not even on the wheel, would you be ready to use autopilot on your door do route 66? tweet me at liz claman -- "countdown" coming right back. you've got to hear their gutsy, often hilarious stories.
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. liz: with 43 minutes left before the closing bell. dow is still up 132 points. keep your eye on the s&p. the all-time record high, 2130. right now up 9, nearly 10 points at 2113. this is a teeny bit more and we could see it. not today probably, but you never know what's going to happen in the closing hour. we know this that one of the biggest names in video games is getting even bigger. activision buying the maker of
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addictive mobile game candy crush owned by king digital. and the price 5.9 billion dollars. it's had tough times and activision blizzard. investors reacting that show disappointing results. the stock is down 4.33%. stock giant rejected carl icahn's proposal to split the company into three pieces, they hate it but he made his case to fox business earlier today. listen. >> aig should be split up, the government is saying the companies that are too big to fail should be split up. liz: sippi, systemically important financial institution.
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cute name. aig has said and we always say this. happy to meet with carl icahn to discuss the proposal more. we shall see. let us get to, this talking about this for the past several sessions. the pharmacy faces accusations about relationship with high-flying drugmaker valeant pharmaceuticaling shutting its doors, closing. it announced -- we have to wind down principal operations, done, closed, good-bye. after financial reporter roddy boyd exposed valeant's relationship with the pharmacy and questioned behavior and the accounting valeant did because valeant had option to buy phillidor which it paid on dearly. it caused valeant to sever ties, as valeant said we are innocent, we've done nothing wrong.
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it proved journalistic instincts were dead on. we brought him back along with charlie gasparino who reported since it was first reported. were you surprised it happened this quickly, when was your first report about the company and where you raised concerns? >> liz, charlie, good to talk with you again. boy, it came out october 19th with overnight, with my first piece on that, and i, of course, i was very surprised, i figured they were going to draw it out and they impanelled a high-level corporate committee to investigate it which almost certainly was destined to find absolutely nothing wrong, and about 48 hours after that announcement, they shut it down. liz: it's quite the denouement, i think this is rather stung. what does it is a to you that
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the valeant relationship was a house of cards anyway, and explain to viewers why they should care and what was so bad about the relationship? >> yeah, viewers should care because it's going to cost them a lot of money in terms of settling claims against the pharmacy benefit managers high-profile companies, cvs, caremark, blue cross blue shield several others, regarding improper pharmacy reimbursements. in other words, they were able to get prescriptions shipped to california, i believe a few other states where they did not have a pharmacy license, a profound no-no. so the company says it's only about 6-7% of business running through there. that's just fine, but 7% is about 750 million on an $11 billion revenue rate, but more importantly.
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liz: it mattered to philidor? >> yes, it's going to cost them hundreds of millions of litigation. now i don't know if they're going to settle that privately or comes in a class-action. that's not clear. >> roddy, if it's just phili dor, i haven't heard a lot of other names. not like i heard that valeant has a network of phillidors that give credence to the enron claim. if it's just philidor, it's not enron. >> first, i had a heart attack when i saw the pharmaceutical enron stuff. that's ridiculous. liz: which is what the short seller who picked up yur research called it. he said enronesque, let's be fair. >> andrew has done very good work over the years. is a highly provocative guy and done real well for himself on. this particular claim that it's
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an enron, that's not right. >> you're owning the stock, this is not something that -- this is not fatal to the company? >> is it fatal? no. i would argue that it's certainly serious and they're going to lose a lot of pricing power. wonderful thing about valeant is they got many times what they could get through the channel. liz: this is a $263 stock. folks, in case you are listening on xm, it's now $98. >> i'm playing devil's advocate. it goes to 90 a share, this is something to buy. if you think about it, the market is pricing in the litigation, pricing in the fact it's not going out of business, pricing in the fact it's not enron, it's something kind of sleazy that was done for a while, it's not enron and still a viable enterprise. liz: and roddy we asked you -- >> isn't that an accurate statement, would you say?
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>> charlie, the reason they pay you huge dollars is you can make the linkages. i'm just a dumb old reporter. >> i'm just a dumb old reporter, too. >> no, not so. not so. >> i don't see the enron here, and i'm saying if i don't see the enron and i'm the average investor, i'm taking another look. liz: let's ask roddy. >> they are putting them out of business. liz: no phillidor is out of business. >> this is a gamble. it's not the enronesque. it's not enron, it's something less, they're going to pay fines, they're going to pay regulatory things, the question is, is the proper price around $95. liz: roddy, have you been sued? has the sec called you? you put out the original report. you said you hoped they come after you because your research is rock solid? >> i'm a journalist. i have no idea why anybody would come after me whatsoever,
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if they did based on my use the documents, to annihilate them and collect them, not a worry to me. liz: change the subject, then, you wrote a book on aig, you think they should break it up? >> should have broken it up way the hell before carl icahn started talking about it. [ laughter ] >> okay. >> i haven't looked at it in a while. my sense is carl icahn is doing a very good job doing what he's done for all his life as charlie and liz is nowhere near as old as charlie. liz: you'd be surprised. >> carl icahn does very well for carl icahn, following carl icahn's world view is not necessarily the best for building enterprise value. >> we gotta go. they're putting a gun to my head, roddy. liz: you are one heck of a journalist. fascinating to watch. >> thank you. liz: interesting, the pen can be mightier than the sword. >> sometimes. liz: but television is mightier than everything. charlie, thank you. we'll be right back.
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. liz: we need to show you shares of chipotle, they are recovering slightly, up two-thirds of a percent, after 43 chipotle stores in oregon and washington remain closed after the company shut them down following the e.coli outbreak. within the last two hours, the centers for disease control has released what appears to be a pretty shocking new report what the government and food industry needs to do to prevent a mass outbreak of food-borne illness in america's food chain. jonathan ferry has the report in his hands, he's got the details. what is so shocking, jonathan? >> reporter: hi, liz, each year one in six americans get sick from eating contaminated food, the actual numbers may be higher than the official count most of the cases are unreported.
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public health officials are especially concerned about the multistate outbreaks, they represent only 3% of food-borne illness cases. why should we be concerned? we should be because multistate outbreaks are responsible for a disproportionate 56% of deaths from contaminated food, and the cdc is seeing increase in the multistate outbreaks which occur roughly twice her month as the food supply chain is more centralized and less local. by coincidence, the report comes while public health officials are investigating the e.coli outbreak that sickened 62 people in oregon and washington state. as a precaution, chipotle closed 43 restaurant location in the pacific northwest. though cdc officials say it's too early to know which food item carried the contamination and whether all of the cases are related to one another. and blue bell ice cream is in the process of restocking store shelves. six months after the company
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issued a voluntary recall to deal with a listeria outbreak affecting consumers in four states. according to public health officials, ten people were hospitalized and three died in connection with the outbreak. the stories underscore how serious food-borne illness can be, public health officials reissuing a warning to food service companies to ramp up their efforts to identify contamination and to issue recalls as promptly as possible. the cdc pointed out many grocery store chains are starting to use information they collect from the loyalty cards to rapidly inform consumers of product recalls. liz? liz: it is a very serious issue, my solution, i torch everything. char everything. >> good idea. . liz: well done, salmon, well done, ice cream. >> it creates different problems, possibly carcinogens you are destroying all the
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bacteria involved. liz: i know. you do destroy, it but you've got exactly carcinogens all over the place. thank you for keeping us informed. the closing bell ringing 28 minutes from now. donald trump warns about a crippled america as dr. ben carson takes his place at the top of the latest polls. our political panel on trump's up and down day. try that for 57 hours. look ma, no hands! life is a highway for a couple of tesla owners who set a cross-country record using the autopilot feature nearly all the way, exclusively here, they recount their coast-to-coast trip.
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. liz: dr. ben carson is taking a victory lap today in his humble way. not really a guy who starts screaming and yelling i'm so great. he just keeps it straight. after topping a second national poll, this time leading donald trump by six points in the wsj poll. trump is not take the news lightly as he used the launch of his book to take jabs at his competition. >> you look at ben, he's weak on immigration and wants to get rid of medicare. you can't get rid of medicare. when a man is weak on gration a rid of medicare, i don't know how he stays. my jeb impression, i don't want to do that, i don't like showing a person sleeping at a podium. liz: and then i'm better look than marco rubio. let's bring in the political
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editor at life along with julie roginsky, fox news contributor. is he emboldened? panicked? keith, what do you think? >> i think he has a real problem and i think he knows that. think about what the republican electorate is looking for, someone that would stand up to the establishment that won't -- who won't budge, who will possibly make changes. now on the surface, it looks like trump is the guy for that because he's boisterous, he's in there, he's unconventional, but carson has some of the same characteristics, only much more quiet. people see he has reserved but he has strength. he has strong principles. they sense he won't back off in the face of attacks between the washington establishment so he's a threat toe donald trump and he knows it. liz: julie, one of the criticisms that donald trump just made struck at a lot of people's hearts. anybody who talks about getting
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rid of medicare, he can't win that way. so there's some legitimacy in that claim coming from a boisterous donald trump, is there not? >> there is, and he's right. there are seniors who find parts of donald trump's message that resonate or the republican message resonate, but the minute you talk about getting rid of medicare, coming from a former doctor or maybe a current doctor, that's pretty much the death nell. >> the hypocrisy is you get a lot of people whether discussing obamacare, anything else, get the government out of my health care. what do you think medicare is? that is the government. it is generous to the elderly that don't have a lot of income. looks like a third rail to me, talk about something that happened here yesterday. we had former governor of new hampshire and senator judd gregg on, he said none of this matters, come february, we're going to see a totally different front-runner status. >> when people vote, they are
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serious about casting their vote. they don't take it lightly and they're not going to throw the vote away. the people that win the primaries are going to be very different from the people leading the polls right now. liz: keith, you have 2007, hillary clinton leading over president obama, and you also had rudy giuliani well in advance of john mccain. so do you agree with judd gregg? >> no. i would assume that people said the same thing about reg nan 1980, that would be a wasted vote. people like judd gregg were against the conservatives insurgent like that. the fact is nobody knows. sometime things change, sometimes the front-runner keeps winning, and these -- ben carson, donald trump leading for a long time now. this is not something that popped up. and carson though he doesn't do great in the debates, keeps gaining, trump is still ahead. these are serious these polls and they're not likely to go away. liz: julie, hillary clinton solidified her lead over bernie sanders, has she not?
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>> shes half. new hampshire does border vermont. i would say that judd gregg is absolutely right. new hampshire is going to come down to the following, marco rubio, jeb bush or john kasich and none of the three people are leading there but i think come february that's what you see. liz: one thing for business viewers who own stock, it appears that hillary clinton is the one candidate who moves stocks. we have gun stocks rallying today as she put out gun control, let's have a bigger conversation about it ad, that is effective. i don't know if we can show gun stocks right now. the fear that somebody might take away their guns. we saw this with the barack obama nra ads. you can see the gun stock rally. she moved, keith, she moved pharmaceutical, biopharmastocks when she talked about price gouging. >> yeah, and the economy has performed so badly under obama, i would assume it looks like she's going to be president,
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the entire stock market will movement not just individual sectors. if bernie sanders pulls this off, you can see a route in the market at that point. nobody wants that, no type of person who understands anything about business wants bernie sanders. >> the market is reacting who they think the next president is going to be. i think the market is predicting hillary clinton will be the next president. liz: every side gives its spin. a great rally the past couple of days. keith and julie thank you, both. closing bell, we're 17 minutes away. the rally holding at the moment. tesla releasing earnings at the top of the hour. after the bell, we've got an exclusive picture for you. we are going to introduce you to the couple that set a cross-country driving record without putting their hands on the steering wheel and they use tesla's autopilot feature for most of the trip. they're going to be here to
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if you're medicare eligible, call now... and talk to unitedhealthcare about our plans, like aarp medicarecomplete. let's get you on the right path. call unitedhealthcare today. ♪ . liz: have you ever driven cross country? that road trip is never easy. try doing it in an electric vehicle, more specifically a tesla, and mapping out where you stop to charge your vehicle, and also hands free, autopilot. a team of three, carl reese, deena mastracci and alex roy completed the 2,995 trip from california to new york in a tesla model s all autopilot hitting 24 supercharger stations. while the team set the record for the best time from l.a. to
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new york in an electric vehicle in april. this time they did it nearly hands free, and they lived to tell the tale! here they are joining me in a fox business exclusive in advance of the earnings after the bell, the record-breaking couple, carl reese and deena mastracci. great to have you both. what made you come up with this idea? i'm driving cross country. no hands, no way. carl, why did you do it? >> i think these transcontinental records have been going on and stitched into the fabric of the american culture for a long time. there have been many people dating back to cannonball baker that crossed the united states in a very short amount of time, and we've been increasingly trying to shorten the distance between l.a. and new york. liz: okay, so you did it in about 57 hours, 48 minutes, what was your fastest speed deena while using autopilot? that would be so panic
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inducive. here's the video. no hands. deena? >> my fastest speed was probably about 85, but the car, you know, tesla built the car to be capable of doing the autopilot up to 90 miles per hour and, you know, i think they've done that to the adjusting speed limits throughout the country. liz: you did this at night, during the day, did you guys take bathroom breaks or diner stops, carl? >> yes. the supercharging stations which are free, by the way, from tesla, when you purchase the car, are conveniently spaced about 150 to 200 miles apart, and the charging takes roughly 20-30 minutes. during that time, you get out of the car, stretch your legs, you get a cup of coffee, use the rest room and get back in the car. liz: you're waving your arms here. did you have range anxiety?
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the definition of that is fear of battery power. you didn't have that at all? >> no, we've had the car for a while. i would say maybe the first month of being a car owner there might have been a little range anxiety because you're not stopping at the gas, to get gas, it's not plentiful everywhere. range anxiety is long, long, long gone. liz: did the autopilot have any mistakes? did they take you down wrong roads? any near-misses, carl? i'm interested to know how it went during the night? >> that's a great question. you have to think of autopilot it'sin its infancy right now. and tesla told their clients it's to be used on the highways only, and you have to think of it as perhaps cruise control. it's nothing that you would activate on surface streets, but when you're on the highway, it takes some of the mundane
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driving away from the actual person in the driver's seat and let the computer take over, and it worked flawlessly during the night. liz: what was the funniest point, deena? >> the funniest point? i don't know, i actually -- the funniest point was probably alex because he had never really had a lot of time behind the wheel. our car was probably the first. so it was kind of funny watching his reaction to the tesla. liz: he was your third driver. the beauty of it, you could all fight over the radio station instead of sitting there having to put your hands on the wheel. great to have you guys, you're record breakers. gutsy. carl reese and deena mastracci who broke the record, autopilot, 96% of the way cross country in a tesla model x. you are fans of tesla. that's for sure.
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thank you for joining us exclusively. >> thank you. >> thank you. liz: i would be so anxious the whole time. apparently they weren't. they're cool californians. i'm a californian transplanted in new york. tesla earnings out after the bell. amazon waging war on etsy with hand made platform, but does the original home made e-tailer have the edge? we get to find out when etsy reports its latest round of earnings after the bell. the stock is up 4% right now. and stocks may be up today but there's a triple threat out there putting your money on the line as the dow jumps 97 points, what could that be? our "countdown" closer gives us three d's that you the investor have to be aware of. stay with us. can the rally hold? stay tuned.
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liz: beware the killer ds, debt, demographics and deflation.prevents gdp growth. at least what my next guest says
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but there is still a way to make money. we have morgan creek capital founder and ceo. 400 million under asset management. talk about the ds. seen debt in ronald reagan and george w. bush. we saw debt under clinton but market certainly gained. >> liz, debt is one of the most interesting challenges within the killer ds because it keeps a accumulating. it is like a sand pile theory. the last grain of sand takes the pile down 40%. it is the last few dollars that cause the problem, when you reach that tipping point. not increment -- not total amount of debt. incremental amount of debt at some point. liz: demographic issue, we have aging population that hits the health care curve i would imagine.
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there is always a trade there, right, mark? what do you do for your clients saying i'm not turning belly-up, i have come up with ideas. what are those ideas? >> that is fantastic point. one of the killer ds is demographics and as you point out dem traffics is challenging today. we're aging of the because we're aging as you point out we want to invest in health care and we think health care is a fantastic place to invest. the last few weeks, notwithstanding from the famous hillary tweet that took stocks down a lot but we think that's buying opportunity. and there are companies out there down 40, 50% that are great long-term investments and as you said always something going on, always something to invest in. you have to buy what is going on out there when it's done. liz: horizon pharmaceuticals and all american pipeline. energy is doing well. there is a total glut out there and i, that brings to the question, what can you do here? these just great buying
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opportunities because they're uber cheap? >> yeah. i think there are a couple things there, liz. the deflation, you know, debt, and demographics, deflation is the most insidious. saw a great ad today or tweet today, there was an ad from 1991, full-page ad from radioshack. every single thing on that page you can get in your smart phone. that is deflation, technological deflation. energy prices have deflated over the last year, down about 50%, today notwithstanding. so a lot of stocks, particularly mlps have just gotten crushed and we think that it's the transportation of hydrocarbons that's very, very different than the exploration and production of hydrocarbons. liz: mark, we have closing bell. i have to interrupt you -- >> gas is relatively important. but transportation makes these things a buy. liz: we have closing belgiump being up here.
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mark, morgan creek capital management. david, melissa, nice move for the bulls. david: mark had a lot to say. numbers coming up. melissa: tesla moat -- motors out with third quarter earnings. analysts expect a big loss for the company. we'll have the numbers as they come out. david: donald trump is coming in second with a new national poll. he is dealing with it as you expect going full steam at his competition. [closing bell rings] stocks slipping into the close but still in a plus category. not quite a triple-digit gain. hour ago the dow was up 1 to points. -- 130 points. we're just about 80 or 90 points away from 18,000. which we originally hit december 23rd, 2014. looks like we're not going to get there today. melissa: so -- david: here's a look where we're ending up. gold by the way is down significantly today, down about 20 bucks. melissa: while the markets wait


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