tv Cavuto Coast to Coast FOX Business December 1, 2015 12:00pm-2:01pm EST
i had a big flag flown over the united states capital. hopefully this reaches you at your desk. stuart: yes. look at that. [applause] i do want to say thank you to all of our viewers who so generally congratulated me on becoming a citizen. neil: thank you very much, stuart. if you want to become an american citizen, you are on a hook for a lot of money. that country, whatever you want to call it, is on the verge of a complete default or at least a partial default. $350 million due today. part of a 72-$75 million debt. the technical definition of a default. looking like it will not make good on part of that.
connecticut senator says no. today, a complete default. adam schapiro on this partial default. the bad word that will stick with this for a while. >> in english and in the governor's own word. they are in default. they made today's payment. to make that payment, they defaulted on other bonds. yes, they are in default. testified before congress. "in simple terms, we have begun to default on howard dead in an effort to repay aunt issued with the commonwealth and secure sufficient resources to protect the life, health, safety or welfare of the people of puerto rico." new highways. that is what they defaulted on.
here is more of what the governor said in his own words. >> puerto rico will have revenues to certain bond issues in order to maintain public services. we have taken this difficult step in the hope that congress will act soon. let us be clear. we have no cash left. they are broke. that is what he is saying. they staff people who owe bonds. $7 billion. the governor said, we are in default. >> robbing peter to pay paul. another credit line.
eventually, your house of cards will collapse. well-known from people live in the 1970s. a similar kind of disaster. there testifying congress needs to let them, not saying bankruptcy, but a way from a u.s. taxpayer. neil: unlike this country, cannot spend more money. even will we try that, we do see our credit rating downgrade. implications of all of this. >> it is a commonwealth. >> not even like that.
remember these. it has happened. >> i think that this is a one off thing. neil: chicago, of all classes are backing up. >> it is very issue specific. if you hold new york city von's, i really do not think you have to worry. here is where it gets scary. will they be on the hook to subsidize what has been an insane amount of spending and taxing and high crime rates. creating this mess in puerto rico where businesses do not want to be there. people do not want to live there.
i think that that is the big problem. this is a problem. they are not a state. not even a city. states cannot declare bankruptcy . we would have an interest in trying to help them. more focused on the go to. that is delicious, by the way. let me ask you how this goes. robbing peter to pay paul. general obligation bonds. robbing some of the lesser class bonds. you think maybe they may default on that. investors will see this. a person that owns the debt. it is owned by hedge funds right now.
both sold out. those hedge funds are betting on one thing. there is some deal where all of these hedge funds want people that. it goes up to $0.50 on the dollar. that is exactly what is going on. neil: they will get some cough up. i think that this is what will happen. they will take some haircut. generally, they will get a lifeline. i think that that is what is going on right now. >> you'll have to help out puerto rico. they were speculators. they bought the debt at very cheap prices. he will make the spread of the difference. that is essentially what is going on here. all the major hedge funds arguing with the governor.
how much of a haircut on the full faith. they can get $0.50 on the dollar. they walk away pretty happy. neil: thank you. i do appreciate that. i mentioned chicago's commercial. rob emanuel just announced a short time ago. all of this is coming to light. some 14 months ago. it came to the public's protection. this is probably just a matter of time. focusing on other developments. mainly isis in this notion coming from the president. isis will probably be around four years. i do not think those are the words that a lot of people wanted to hear.
>> that is exactly right, neil. being pressed at home and abroad. speaking from the climate change summit in paris earlier today, the president said that he remains confident. those are the words. the terms that he has been using throughout. climate change battle saying the issue is the pace. he says we will prevent surely prevail. the fight will last quite some time. >> continuing to be a deadly organization because of its social media. the resources that it has and the network of experienced fighters that oppose ss. the secretary of defense, the chairman of the joint chief of staff, they face scrutiny from
the house armed services community. they have been there testifying for about two hours now. special forces will be headed into theory up. the u.s. will be employing specialized targeting forces. both isis and iraq. here is carter. >> they will be able to conduct rage free hostages gather intelligence, and capture i isil leaders. >> we asked for details about the force as it relates to iraq. neil: thank you, buddy. we have the republican from the fine state of wyoming joining us. senator, first off on this development.
what it can do about isis, at least in the near future. what do you think? >> i just got back from afghanistan. i will tell you, isis is not contained. isis is expanding. jumping the fence. setting up franchises. i think what we saw in paris just shows how deadly these people can be. that is their business model. that is what they are doing. i think we have to do much more that what than what the president is talking about now. >> places like new jersey and texas. they want to legally fight it. they cannot interfere or whine about it. where do you stand on this and what we do? given the height and security tensions, they are very tense.
>> from that area of the world. talking about 4 million refugees right now. 10,000, canada 25,000. compared to the 4 million people that have left syria. their friends and neighbors and relatives have been killed. they are just trying to stay alive. aside is still in power. we have not done a thing to set up and area, a no-fly zone where people could safely go. receive the aid. coming to the united states. we really do not have the potential right now to check their identities. neil: senator, thank you.
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$44 billion which would be up 4% from a year ago. what is in demand right now are those big gas guzzlers. not a big surprise. what is a surprise is how say somebody's cars and vehicles are. jeff flock with more on that. jeff: just an incredible month. more than 17.4 million vehicles. that is the pace we are on right now. you are absolutely right. the cars that are bigger like that ambulance are the ones that are selling. sales of the dodge dart for fiat
chrysler down 31%. look out for it. up over 10%. down 25%. take a look at gm. gmc yukon. a big suv. the chevy spark. great mileage. ford announcing today that they are spending well over a billion dollars to upgrade a truck plant. trying to keep up with the demand of these cars that are gas guzzlers. they certainly do much better than they ever did. they are the least fuel-efficient, you are absolutely right. neil: a lot that are then they used to be.
do they have a back up plan on that? >> i talked to mark fields on that. much better mileage. almost 20 miles to the gallon. he said we have to make a fuel-efficient truck. absolutely right. it could turn on a dime. people will totally change the way that they go about it. they have to be ready. >> you worked at an ambulance passing by. immediately identified that. i do not know where the committee is. i hope they caught that. jeff: i tried. react to whatever goes on around me. >> we have hit you with everything this week. you have been flawless.
climate summit going on. the real problem we have been training this is the traditional fossil fuels that are bad. the world should pay attention. cole has certainly cleaned up its act. a clean fuel source. you do not get much talk about that. >> we have more talk about demonizing fossil fuels than we do about the technology that has already improved its performance and the technology tomorrow. actually doubling down and improving performance on emissions overall. >> i can just say, those that
want to kill additional fossil fuel. even in the face of evidence. a lot more clean and friendly to the environment than they ever have been. yet, that argument will not be heard. >> i think that it is very unfortunate. it has increased by 175%. omissions have gone down by 90% over the last two decades. it is called and other fossil fuels that are bringing the world into prosperity. the exit ramp for poverty. i do not understand why people do not appreciate the fact that prosperity is good both for the environment in the standard of living for everyone around the globe. china is the perfect example.
neil: you know what else i do not understand, people should be all in. if it is called, we have an abundance applied. in some way shape or form, whatever your particular energy favorite from here and then over there. >> absolutely. we are sitting on the largest energy resource. that is our call resource. we look at what is happening here in the united states. we see a complete lack on the president's negotiating posture. in paris, asking other nations to provide some nonbinding statements to what they plan to do or may do in the future. abundant energy has been good.
it is certainly good for the globe in terms of bringing people out of poverty. >> the one thing i find ironic is they rip your industry. big plans of tesla cars. you plug them in. no doubt they are being plugged into an energy source coming from a coal-fired plant. >> it is a little weird. it has made our electric grid reliable and affordable. providing about 40% of electricity nationwide, that diversity is saving americans $93 billion a year. decreasing the utility bills by almost half. the latest one being coffee powerplant. costing americans about $214 billion at a minimal.
neil: thank you very much. i told you this was a big development to watch. included in a currency basket. no big deal. still king of the hill. a statement by imf policymakers. urging further economic forms. all of these operational challenges of being in the currency basket. they are trying to prop this thing up. just in case we want to stick it to the u.s.
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that's right for you. neil: i want you to take a look at the dow. wearing about puerto rico pulling out and defaulting entirely. robbing peter to pay paul. making good on a $350 billion bond payment. it did the trick, but did not escape the obvious. we are criticizing it in washington. washington is criticizing playing fast and loose with these accounting tricks. the fact of the matter is, a very weak manufacturing report. it has talk that maybe the federal reserve opted not to raise interest rates in a couple
of weeks. i know. i know. i think that this is crazy talk. i have no idea. getting a separate report coming out that united health ceo now regrets entering obamacare. the remarks that obamacare was killing it. that was that a save time. all the insurers were tanking on the believe that these exchanges were losing money hand and says. it has not formally happen. when you have the big insurers saying that these exchanges are killing us and now we are regretting joining them in the first place. obamacare would just belly up. there would be no money. there would be no backdrop. oil facilities that support about 43%.
that leaves capacity for them to get their hands on some money. 43% is the star. it should be 100%. these are the easiest error targets to hit. long, multi- long boards. they have refining centers in the isis heartland. we are trying to hit the pipeline notes. they can cut off supply. leaving the refineries along. the thought that isis collapses those refineries we will go back to the iraq keys and tribute to their welfare. trying to interdict the financial flow. sympathetic citizens of sunni states in the region. tens of billions of dollars from
them. so far the administration is slowly but surely beginning to change their strategy. >> are they really? talking about the likelihood that isis will still be around. years from now. he talked about bringing in j tax. control teams with special forces forward into iraq and syria to try to beat more precise. he is talking about increasing the numbers of special forces. continuing to grow at 4000 fighters a month. this will be a year long, if not a decade-long campaign until we do something decisive. >> whatever they do, they have
not actually cost a lot of money. it is sort of allowing us to the 9/11 hijackers and attackers. that was done a little more than $1000. i am just wondering what that means. isis is having franchises beginning to expand all over the world. virtually and control of libya as we speak. they may be shrinking a bed. iraq is getting its act together. that will take years, neil. isis is covering all of the heartland of this unsettled region. more and more of their influence. all over north africa. neil: it is unbelievable.
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neil: it is still very early. the numbers that we are getting are showing what you did online. doing very well. more the brick and mortar type. a lot of the brick-and-mortar guys have an online presence as well. gerri, besides being the former toys "r" us guru, saks fifth avenue, home outfitters, a lot. >> good afternoon. it is great to be here. neil: they are all combined. do they look good? >> absolutely. shopping on the web. shopping with randy and retailers that they love.
we see a conversion. over black friday weekend, we see something that was predominantly works and mortar. cyber black friday. neil: why do the people who know the sales are the same online: wade online? >> they like to get more variety. a lot of people like the experience. 75% of the business this black friday still took place in store. the customers were very happy. it is very social. they like to score bargains. there is the thrill of the deal. 25% chose to stay home. that is just fine with us. we do both. neil: you do not get credit for that when you're combined sales
are polluted. that masks the overall strength. >> we get credit when we report our sales. some of these media reports coming out, you have to be a dinosaur and don't understand the internet. or just the internet company. the biggest growth, according to all the sources that i've seen, the biggest growth online game from the internet arms of the bricks and mortars retailers. >> what do you make of amazon. that is worth the value of latin america. >> there are not too many amazons. now it has access to all the goods and services presumably out there. >> a small percentage of total
retail sales. it is not like the whole world is going to amazon. >> you look at the traffic. it is not worth keeping this pricey store open. i can do it all online. >> absolutely not. the general trend has been that sales have been basically flat. sometimes you read that as people think that bricks and mortar is going away. retail in general. essentially, it is essential with the stores with all the growth online. if you have a great internet line, they could also shop us on the internet. the channels are physically
merging as well. shopping online and pre-shopping decide what they want to buy. they go to the store. it is instant. it may be calm from a store that is like a mini distribution center. i do not know about you, but when my wife wants to buy that special dress, we goes to the store and she tries on more than one dress. you cannot do that online. other times she shops online. that is the customers choice. the internet only guys will not be able to keep up. they just go online. cyber monday has also been
something. most of us, we have a cyber sale. it is in the stores. the same offers that are online. neil: an oxymoron. >> incredible value every day. one of those rapidly growing charts. the most current up to date fantastic chanel handbag. if you want to get a great deal on designer apparel, you go there. t.j. maxx is worth more than target. t.j. maxx is the leader. we are growing that space. neil: did you do anything about the people at saks? >> it is part of it.
>> thank you very much. this man is a legend in the retail community. good luck getting a day off. i guess after new year's. and then some. thank you very much. this is a huge issue. what i found amazing in this discussion is it is not how you handle your finances. really? we are offering them financial advice. tomorrow, i will fill you in. do you want to go there? i know. it's so frustrating. they'd be a lot happier with the capital one venture card. and you would, too! why? it's so easy with venture. you earn unlimited double miles on every purchase, every day. just book any flight you want then use your miles to cover the cost.
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neil: you will camp out on that. sometimes, we get things a little bit confused here. we are not addressing it. we are not talking about it. all of a sudden, a world and a half away talking about climate change. >> they are excited. focusing on carbon. glad he is not talking about our spending problem. even our military folks understand. continue to carry $19 trillion of debt. there is no way we can meet our military obligation. some of our biggest issues of the day. too much debt. too much spending. too much government. neil: we will be dealing with this later on.
that country's president before congress today. essentially begging for cash. we are not at a position to help them out. a situation at which you can see the need for us to do that? >> i do not think so. at the end of the day, we just put it on. there will be a day of reckoning. hopefully it does not come soon. you have a president refusing to leave at home and working on a legacy. worrying about carbon. that is why his poll numbers continue to plummet. outside of washington and outside. neil: do you ever get a sense of liking this kind of stuff. preoccupied with climate change. why can't we do both?
looking at climate change. right now, they are arguing that it is okay. carrying $19 trillion adding a billion more every day of the year. there is also disagreement about isis. i do not believe they think that terror is a threat. can we do all things at once? we have to prioritize issues. right now, carbon is a bigger threat in the president's mind. threatening to come across our border. that makes no sense. they spend thanksgiving focusing on family, football and turkey.
i think it is unbelievable some of the things this president is doing. protect america. not from carbon, but from islamic jihad is that are threatening. the number one issue facing america. something the scientists argue about. i think he has taken his eye off the ball. >> thank you for taking the time. we appreciate it. puerto rico in default. it did so despite some very clever cutting. more to the point. the question is, if it now goes into total default, in other words, what they call total bankruptcy, then what? we have a former governor with us next. ♪
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♪ neil: puerto rico going into the fall. all about having in asking for some relief. a little less than sympathetic. we do not have the money ourselves. $355 million is due today. $72 billion debt. they did pay that off. here is the tricky part. the general obligation. that is a no-no in basic accounting. playing those kinds of games still leads to default. former governor of puerto rico joining us now.
why do you think it would be a mistake. >> what actually was said yesterday on the senate floor makes a lot of sense. demanding information. financial statements way overdue. secondly, a credible plan and third indicating that they are willing to sit down and work something out. without any need to go to the games. certainly, i would take that offer. >> a lot of them are afraid that they will be paid back pennies on the dollar anyway. do you think that they would accept partial payment on this?
>> it depends on the credit. eighteen different types of credits. neil: hedge fund. >> hedge funds, municipal funds, it individual investors. few are left by now. it makes sense for both sides to sit down and talk about it. however, there has to be full transparency. the statement sought to be issued as soon as possible. a credible plan has to be put forth. the bottom line here is that the economy has to grow. the claimant has to improve. having to deal with revelation. it has to be addressed as well as tax policy. >> 45% living in poverty. i am curious, governor, why businesses would ever be attracted to a company that has
such a bloated government. it does nothing to address it. >> that is why during my tenure we slashed $2 billion in expenses. half of it in payroll. more has to be done. the merger has to continue. the regulatory process, the permitting process has to continue to be streamlined and set of making it more and more difficult. factoring the electronics. the pharmaceutical sectors. still very attract if. neil: thank you for taking the time. we appreciate it. the battle between russia and turkey, we have been told don't trust russia, do not trust
putin. why are we trusting turkey? are they really the friend that we think they are? after this. ♪ jeb bush: here's the truth you will not hear from our president: we are at war with radical islamic terrorism. it is the struggle that will determine the fate of
the free world. the united states should not delay in leading a global coalition to take out isis with overwhelming force. their aim is our total destruction. we can't withdraw from this threat or negotiate with it. we have but one choice: to defeat it. vo: right to rise usa is responsible for the content of this message.
. neil: all right, about that rate hike that's a gimme later this month, maybe not. the first sign that a prominent federal reserve board member is thinking otherwise, we're just getting news from our friends at market watch that chicago fed president charles evans was saying he's leaning against, i stress against, supporting an interest rate hike at policy meeting later this month. quoting here, before raising rates i would prefer to have more confidence than i do today that inflation is indeed beginning to head higher. this comes on the heels of others who expressed concern post the paris attacks, that now might not be the ideal time to raise rates, as if there is an ideal time. as carly fiorina was telling me after the fox business debate, these guys will come up with
something not to raise rates. she said it before any of this stuff in paris transpired. her view is the fed doesn't want to raise rates and will do anything to avoid it. the first hint may come from the chicago fed president. keep you posted. meanwhile, in case you think that the presidential race isn't changing fast and furious, look to the state of new hampshire and look at a certain chris christie. listen to this. >> doesn't marco and barack obama share a similar biography. >> as do ted cruz and others in this race who have no experience in governing. like i said last night, new is wonderful, great, shiny, untarnished and everybody loves new, it's exciting. . >> you great! until you need experience, until the tough moment comes. neil: i think that was the governor's way of saying too young, too inexperienced. you guys scoot down the bench. the only thing is he's trailing them substantially in the polls.
to charlie gasparino on the sudden big push from christie for christie involving all the christies. >> point out he's gone the a little surge in new hampshire. neil: absolutely. >> he got the endorsement of the "manchester union leader" which is a big thing in that state. on the heels of that, this is fascinating, as ken langone, normally big fund-raiser is receiving from the fund-raising arena, his wife is stepping into that role. now his wife has done. neil: mary pat? >> i have sources getting e-mails and telephone calls from mary pat, we're on a surge right now, we're starting to catch fire in new hampshire, it is critical that -- i'm paraphrasing. she does mention new hampshire and the fact he's getting these poll numbers and the "manchester union leader" endorsement, and saying now is the time to give because we're starting to catch fire. that's what she's telling me. neil: certainly she does not hurt him, very impressive
figure on her own right. >> langone was leading that effort. in new york, she is the one making the calls mainly. not ken langone, it's mary pat christie. neil: does that mean ken doesn't want in on this? >> he's receded, for whatever reason. neil: he must see developments like this and say hey. >> maybe tomorrow. within the last couple weeks, mary pat making the calls, not ken langone. neil: who is she making them to? >> wall street people, usual gop people. neil: the ones sitting on the fence. >> everybody is sitting on the fence you. >> chase one candidate's presumed backers to say you're backing us? >> yes, everybody is somewhat on the fence, this is a very fluid situation. mary pat christie worked at a hedge fund angelo gordon, she has connection with all the folks, she knows them. she worked at cantor fitzgerald before that.
neil: she was the family's moneymaker. >> she knows the field. not langone leading the effort, it's mary pat christie. while she is one of the team, she is now leading the team. i think she's very good, if you ever see her on tv. neil: she's terrific. >> and by the way, he's relentless, ignores polls, he's like the energizer bunny and a lot of this stuff has clicked. it seems to all be betting on winning new hampshire outright, but others say just placing second or third will prove you're the comeback kid. >> i don't know, the race is so fluid right now. carson is not out of it yet. neil: he's contained. >> donald, everybody has predicted him to fall out sometime soon. jeb bush's poll numbers. neil: the latest he's saying he should be paid 5 million dollars for the cnn debate, trump? he'll give it to charity. >> he gave them all the ratings. is he asking us for money? neil: i don't know. >> just saying. neil: he will likely make a
statement here that goes beyond -- it's not about the money, i think, it's about what to cnn, do you know? >> who knows what's up his sleeve. there is a method to donald's madness. he is smart when it comes to branding and promotion. neil: no one negotiates better. >> no one negotiates better. i'm sure the new york times is digging into every bit of his financial background, everything he's done or said. what they're going to find is about 10, 15 years ago, maybe 20 years ago he stopped being a real estate mogul in the traditional sense, it's a messy business and became a brand manager, and no one has managed that brand and made more money off of a brand than him. and that's giving him trading to lead the pack. presidential election is about branding, you brand the other guy. neil: you're a brand. enviable brand with, a goatee. >> i heard that. neil: thank you, sir. very nice.
by the way, as he and i were speaking, the chairman of joint chiefs of staff is saying, as if this is a surprise, general joe dunford saying of isis, we have not contained isil specifically is what he's saying. >> news flash. neil: well. [ laughter ] >> connell mcshane on now vladimir putin accusing turkey of aiding isis, it gets curiouser and curiouser. >> yes, it does, more intense between russia and turkey, puts president obama in the role of putting somebody to calm down from position in paris today. but the putin comments, well, you know, he says turkey shot down the russian fighter jet basically as oil reasons to protect the supply of oil coming from isis. what vladimir putin is saying is turkey is doing business, cutting deals with terrorists. turkey as you might expect denies this. president erdogan would resign
if the allegations are true. the two sides are not getting along. enter president obama on those terms. and, of course, u.s. is an ally of turkey, but seems like he's trying to keep the peace, he was quick to remind the two sides we're all in this together in our fight against the terrorists. here's what he said in paris earlier today. >> we all have a common enemy. that is isil. i want to make sure that we focus on that threat, and i want to make sure we remain focused on the need to bring about a political resolution in syria. >> he pointed out the turks are nato allies and the right to protect themselves and that kind of thing people have been saying since the jet was shot down. at the end of the day seems like president obama is trying to get in between and keep the peace between the two countries as things get more intense. neil. neil: thanks, connell. who do you trust more? vladimir putin, consistent about being dishonest, or turkey? pretty consistent at zinging us
when we least expect it. the latest example is the halftime of the soccer game they had the moment of silence in turkey to remember the paris victims, and everyone in the stadium was yelling and screaming. allahu akbar, god is great, that gave people pause. the country's record post-9/11 whether they were friends and whether they added insult to injury in a region of the world where we know the oil convoy trucks frequent to get the black market oil to somebody. who? you know, i don't know when we trust in this case, michael. who do you trust? >> i trust that turkey will look out for its own interests. thanks for having me on, neil. until the u.s. does more, our allies aren't going to do the difficult things we're asking them to do. we asked turkey to secure border. we asked turkey to fight isis.
turkey's priorities are assad, then the kurds and then protecting the sunni turkomen from russian airstrikes. now russia. isis was way down on the priority list, and can make the same argument about the u.s. the u.s. priority was the iran deal. the u.s. did nothing in iraq and syria for four years and now when president obama asked turkey to do the difficult things, erdogan can say mr. president where, is your skin in the game? seven sorties in the mission, that is not enough to get me to do difficult things. neil: the countries look after themselves and their own interests first. i wonder if turkey's interests ultimately not fall back on turkey but zinging us and maybe not for the reasons you state, but i go back because i'm holding a grudge here, that game, that soccer game and the halftime moment when there was so much yelling in the supposed moment of silence for paris
victims, me thinks they're not quite on the same page. >> every time erdogan takes a defiant stance against the u.s. he gets increase in popular support. >> is that right? >> not only in turkey but the region. he's the one guy that can stand up to the u.s. there was a photo used when obama visited istanbul, a manipulated photo. where erdogan's arm crossed over obama's shoulder. turkish press paused and showed erdogan cradling president obama's face, they used that to press erdogan's power in subjugating obama. and showed how much erdogan disrespected obama. that was circulated widely in turkish press and praised by supporters of erdogan and showed erdogan as a strong force in the face of u.s. interference, so to speak other in area, in the region. neil: images count for a great
deal. to your point. >> thanks for having me. neil: now to retired colonel and congressman allen west. congressman, always good to have you. that we've got more problems here that the refugees ironically we don't want in the united states, and few countries are leery to take the treatment is radicalizing the elements and making it worse. we are through our policies making future isis recruits. what do you make of that? >> pleasure to be with you. hopefully you had a great thanksgiving. look to minnesota and minneapolis and st. paul area to see what can happen when you allow somali refugees to come here and they were radicalized. have you between 20-25 somali military age males missing from the area and not on the -- faces are not on milk cartons. i think we know exactly where they are. what you see happening in europe is they are enacting policies which will bring about
a devastating effect on domestic security. from the beginning we should have made this simple. military age males from 16-40 and also single females from 21-35, should not have been allowed entry, because you have to put your security first and foremost. when you have the radical elements like we saw in the neighborhood in brussels in belgium, they're doing exactly what they say they're going to do. they're going to turn people and going to enact terrorist attacks. neil: all right, so, i guess what some people are saying like angela merkel if i heard her correctly, she was saying be careful, paraphrasing here, be careful how we handle the refugees, we might be emboldening the bad guys's behavior, bitter and angry. and to your point about young males, they're going to turn against us. i think a lot of them are already of that mind-set, so what would change? >> they are already of that
mind-set, and we continue to have this policy of we have to appease and acquiesce and compromise with the enemy so they are not offended and don't hate us. well, they hate us because of our ideology, go back to the late 1790s when thomas jefferson and john adams sat in paris with the day of algiers and were asked why was our ship being attacked and our people sold into slavery? and the day of algiers said because we're commanded to do so. leon klinghoffer when he was pushed off the akili lara had nothing to do more with gitmo or any of the excuses people are coming up with. there is an ideological program we have and we're allowing it to festner western civilization. neil: congressman, thank you very much, scary stuff. >> my pleasure. neil: it is weird. thank you very much. >> yes. neil: we told you about how significant it was that chicago fed president charles evans now say he is leaning against a
hike in interest rates at the big federal reserve powwow later this month when it seems to be a given that the fed is going to hike interest rates for the first time in almost a decade. he's a pretty influential figure, he is a voting member of the fomc, the federalome market committee. if he is having doubts about the need to raise rates at this time, i want you to take a leap here to think of how many others are having the same doubts. i'm telling you, that rate hike, i don't know about you. it's not a gimme. it's not close to a gimme. stick around, you are watching fox business. sure, tv has evolved over the years.
private server, gave to the state department, the state department handed out now 99, call it a thousand, might be top secret, they were not supposed to be shared. hillary clinton's argument is well, they were not categorized as such when we first had them to. judge andrew napolitano, what all of this means and whether she's in trouble with the latest release. good to see you, my friend. >> nice to see you. i think she's in a lot of trouble. neil: you do? >> the obligation imposed upon everybody that works for the government, especially the secretary of state, obligation she accepted in writing to preserve and keep secure national security secrets she has blatantly violated. neil: what if they weren't secrets at the time? >> here's what she says. quote, i neither sent nor received anything marked classified. closed quote. that's a play on words, nothing is marked classified. classified is the lay
terminology, the legal markings are confidential, secret and top secret and the essence of the information determines level of secrecy, not whether it is stamped confidential, secret or top secret. couple of examples. ambassador stevens eventually murdered in benghazi, highs travel plans she put out there. satellite images of north korean installations. neil: travel plans? >> in the two weeks leading up to benghazi. satellite images of north korean installations, u.s. satellite images of activities on the ground in yemen. she sent this to blumenthal who didn't have a secured server and doesn't have a national security clearing. neil: disproportion at amount of e-mailing. >> sid's dirty tricks when they ran against each other in 2008 said there is no way i will hire this guy.
neil: is that it right there? >> yes, it is. she failed to keep national secure secrets. the question is not only the evidence to prosecute her, is there the will to prosecute her in this justice department. neil: you remind me, the fbi can recommend action, he alone can't prove it. he goes to the justice department says i think there's enough here. what do you do? >> we want you to take this to a grand jury, the justice department could say no, for policy reasons we're not going to do that. in my opinion if that happens, you'll see copy of proposed indictment leaked, evidence leaked and resignations on the part of certain fbi agents. she is in the hands of a very, very sophisticated team of fbi agents who are not interested in politics. this is the same team that took down general david petraeus for far less than the evidence they have here. neil: he had something at home, right?
>> he had a loose leaf with classified documents in it. i slipped and said classified. he had them in an unlocked drawer in his house that was guarded 24-7. because it was in an unlocked desk drawer and friend was in the house who did not share the high level of security clearance he had, he was prosecuted and pleaded guilty. neil: that could be a double standard. >> one issue. not 999 different e-mails. neil, when the data is from an american satellite, it is automatically top secret, even if it were a data of you brushing your hair, because it's taken from an american satellite it's top secret because it can tell that the satellite was there and where it was. she was instructed of that on the second day she was in office as secretary of state, and she acknowledged them writing her understanding of that instruction, and that acknowledgment was signed by two fbi agents. neil: wow.
that would be a secret about my brushing my hair. there is a certain thing i do. i don't want that to get into msnbc hands. [ laughter ] >> judge, thank you very much, scary stuff. all right, other scary stuff depending on your point of view are the leaks or indications we're getting from a guy who seemed to be predisposed to raising interest rates. the cleveland fed president charles evans says you know, the way things are going, i'm not sure i'd raise rates. that is a seminole moment, he sits on the fomc and as a voting member of the federal open market committee could move others to think the same. what does this all mean for you? this gimme that interest rates are automatically going to go up in a few weeks. maybe not, maybe not at all. we're seeing the first signs now. we told you this a couple of weeks ago on fox business, and you were probably watching something else. i hope you're proud of yourself. [ laughter ]
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cycle? the business roundtable puts out quarterly survey of expectations and just released today, ceos expect capital expenditures down 16.7%. sales to be off 3.2% and u.s. employment to be unchanged. so what will break the trend according to the ceo's in the survey? looking to washington. they feel they're on hold ahead
of the presidential election, renewed fears of terrorism. a lot of the usual suspects if you will. neil: weird to think what the cleveland fed president is saying. just to update you on that and whether what lori reported could have entered into the equation for chicago fed head charles evans is not keen for it. if he is not, would he influence other members who might be feeling similarly anxious about raising rates at this time. we go to jared levy in chicago whether a voting member of the federal open market committee could be signaling change in what was expected to be given sentiment. what do you think, jared? >> tough to call on the decision of interest rates this month. my models are sort of all over the place. you have the capex stuff that you talked about. that's a big problem, i looked over the past couple of years, to see how companies were
spending, and the profit generating activity was through restructuring. they weren't opening new stores and expanding, they were cutting costs, laying off workers, adjusting prices. when the fed looks at that and evans makes a good point. here we are six years into the recovery, do we want to sort of make the business environment tougher when the companies haven't been growing horizontally? haven't been expanding? they've been hoarding and being safe, and by the way, share buybacks up 80% in the last quarter compared to 10 years ago. 80%. that's how companies are making money. almost like a facade. neil, i'm baffled about this one. i'm a 50-50 shot whether interest rates will rise this december meeting. it's a tough call. we'll talk. neil: i harken back when i talk about carly fiorina after the fbn presidential debates and
chatting about the whole thing. one of her arguments about the federal reserve is looking at their history, neil. they'll find almost any reason not to raise rates, that they don't want to raise rates, not predisposed to raise rates. she hinted it was political because janet yellen didn't want to hurt the democrats. be that as it may, didn't think it would happen. we have a chicago fed president saying no, i'm not inclined. do you know or think that the paris attacks, the imploring we're getting from many in europe saying now is not the time is weighing on the fed and pushing back this move? >> it has to, to an extent. we're not a country in a bubble. we have trade partners around the world, and i talked about this two weeks ago with you. the currency war bit of it, and i'll call it a war because it is, with china, with europe. just the ebbs and flows of
currency alone can affect profitability. yeah. of course, they're considering the attacks and considering the fact that jurisprudence stimulating their economy, and it is driving their currency down and same thing with china. so that makes our stuff more expensive. a big cycle of problems. again, neil -- >> let's say jared, they don't do that, then what? what happens to the markets after that meeting? >> if they raise rates? >> if they don't. >> if they don't do it, there's another rally, and believe it or not you're watching over the past week as economic data has been crappy, pardon my french, but it's true, you've watched the market drift higher. the bets on the fed not raising rates are going higher. more people are believing. that i think we see a rally, even though the business circle doesn't look good, it's about stimulus like the magical hand that's going to fix things. and by the way, they really haven't. we're going to reap these
problems or these seeds way, way farther in time. i don't know how they're going to manifest themselves. talking about easy money. something we'll address years down the road. now it's all about stimulus. neil: i hear you, jared, thank you very much. could be pouncing onto something more significant than it deserves. i find it interesting you have a prominent fed member saying go slow, don't do it right away. i find these things are choreographed and part of a pattern of announcements that i bet you are going to come out in the next couple of weeks, where fed members just pause, hold off and don't do anything right now. again, could be way too early to tell, but might have seen the first signs today. the federal reserve setting the stage for doing squat, nothing, nada, zilch, zippo. after this. this week's btv spotlight features pure energy minerals
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to make your appointment call at&t and switch the easy way. neil: all right. now defense secretary ash carter is saying that turkey needs to do a little bit more here with regard to isis, to operate both in the air and on the ground against the is lamic state. effectively saying that is not doing enough against isis. that's his opinion of course but others have echoed that. that the turks are not maybe the friends we think. we'll see. all right. we hear about this climate change push and all the countries sort of pitching in or told to address it.
the matter of fact some are getting a pass indeed don't need to address it so soon, like china is now out of control. beijing hazard does air pollution at record levels this is typical scene in bejing. this isn't fog this is smog. this hazardous air condition, whether china is doing anything about it. gordon chang on that. gordon what do you think and whether the chinese are only hurting themselves by not working more to work on their own environment? forget about climate change, just deal with pollution there? >> the communist party will have to do something because the chinese people are starting to get really upset. in beijing they're calling it air megaddon or the air apocalypse. the levels of pollution right now are 40 times higher than that recommended by the world health organization. people are starting to look at this to say the communist party needs to do something.
i think essentially beijing is going to have to do something whether we give them incentives or not. neil: gordan, whether or not you believe climate change, these are bunch of factories that come from a country industrialized even better. i'm told the levels improved from what they were but awfully bad now. what does china do? >> i think china to a certain extent will have to change its political system. it will have to open it up a little bit to allow people and ngos to really act on climate but the other thing -- neil: what are ngos. >> non-governmental organizations, activists groups. right now china has been shutting them down on climate as well as other things and think they will have to open it up a little bit because the biggest protest in china over last three or four years have been about the environment and that's certainly going to continue. neil: thank you very much. gordon chang. part of this issue they're addressing in paris is to try to put a lid how much the earth
warms up, right? they have got this two degrees celsius model. that would be 3.6 fahrenheit and that might do the trick that might, prevent calamity. anything over that would be calamity. keep it to that or under you're well on the way to making the earth a betterplace. university of california san diego professor david victor on that and this two degree thing. first, professor, the two degree issue, how did they arrive at that? how big of a deal is that? >> well, this was a political target set in the 1990s. that is a long time ago. basically it was set two is bigger than one and smaller than three. back in the 1990ss a number of countries especially europe thought it was possible to cut emissions to stop warming at two degrees. because we haven't done very much controlling emissions, not just the chinese you talked with gordon about in the last segment and all other countries we're on track to a lot more warming than
two degrees. neil: so what happens if they can't contain this whether you accept two degrees as a level or not? i mean, they're saying over two degrees katy-bar-the-door, it get awful. does it? >> i have to say i'm a little worried about the rhetoric on this because there is no evidence there is a threshold of after two degrees we fall off a cliff. what will happen the odds of bad things happening are going to go up. so we'll need to deal with more warming and deal with higher sea levels, deal with a variety of other things to greater degree we might otherwise right now we don't know about any actual threshold. neil: by controlling the warming or doing something about it, would be reining in any human-related activity, right? >> yeah. the evidence that humans are affecting the climate already is extremely robust. it gets stronger every time the scientific community gets together to reassesses the science.
that part of the climate science actually very strong. there are much greater uncertainties what the actual impacts will be, impacts on rainfall and crops and refugees, variety of other things. neil: some of meteorologist, professor, other day, saying weather and weather patterns move in 19 year cycles. i don't even know he is right. lost me through half the answer. brilliant guy, much like you. we could be chasing the wrong beast here and spending committing trillions of dollars to do something not only isn't going to move the temperature dime but doesn't make any difference period. what do you think of that? >> yeah, i don't think that argument's right. i think basic physics of how humans build up gases in the atmosphere is affecting climate, not just gases. but also soot particles and variety of other pollutants you can see in the air over china. there is a huge amount of evidence as you build those up in the atmosphere they stress
and torque the climate system. i think the argument we're spending, potentially spending a ton of money to have no impact on money, that argument doesn't have much basis at all. interesting. neil: professor, thank you for taking the time. we appreciate it. >> my pleasure. neil: meantime, the one thing that is getting in the way of making any sort of environmental accord stick, low gas prices. yeah, low gas prices. you might enjoy it at pump but it is not doing much to pump up enthusiasm for cleaning up the earth. ain't that a pip.
>> it is time now for your fox business brief and we have a problem in manufacturing with that portion of the economy contracting the first time in three years last month. you look at the ism number. their index below 50 in the month of november which is the magic number. 50 is the line between expanding and contracting. a lot of people want to know what this means for the federal reserve which is not clear yet although neil did mention earlier this hour, at least one fed official, charles evans is talking about possibility of rates not going up. market is going up today. not much of this manufacturing report is positive. looking to pick out something like that, even new orders component, which gauges new production, flipped last month. if dollar stays strong, people think this trend will not be reversing anytime soon. it's a trend by the way.
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lizzie macdonald says they're all the rage. >> electric vehicles are down from 100,000 last year, there abouts according to some estimates to 92,000. nissan leaf, those sales are down and under pressure. toyota prius is down. what is interesting happened in the state of georgia, you do you know about this? they yanked state tracks credits to buy hybrid and electric vehicles. boy those sales plunged for months and months. they went down to a 10th from the month prior. it is astonishing. interesting the vehicle sales really live and survive off of tax subsidies. neil: you know what is weird though? one thing to provide them for a leaf, but when tesla buyers who are well-healedded are getting $7500 tax credits to buy, come on. >> that is exactly right. i've checking reports in places like california and connecticut, they're complaining about green
bling going for the wealthy to buy these vehicles. and there are things that are breaking out like plug-in fights at train station. who gets parking space first. what is real interesting, edmunds.com found that it's a now one in five people who have an electric vehicle, they go to trade it in, go get an suv instead. neil: is that right? reporter: other thing they found that was only one in 10 three years ago. so is the trend their friend? no, not right now, with low gas prices. it will not be great either. still, electric car sales will continue to go forward but, you know, we've talked about the highway trust fund. if you keep pushing the electric vehicle, the tax revenues are not coming into the highway trust fund. you have to stop with the bicycle paths as well. neil: do like a distance thing, right for the distance? reporter: tax it on the miles. neil: lizzie, thank you very, very much. lizzie macdonald. meantime, what do you make of warren buffett campaigning with
hillary clinton? obviously he is a very influential figure in the financial community. they revere him. but is it me or do you ever notice warren buffett, bill gates, all of these guys are very big talking about more government but they have all decided now that when they die, it goes to a charitable foundation that has nothing to do with government. i'm dead serious. after this. rld has gotten you f, but what if you could see more of what you wanted to know? with fidelity's new active trader pro investing platform, the information that's important to you is all in one place, so finding more insight is easier. it's your idea powered by active trader pro. another way fidelity gives you a more powerful investing experience. call our specialists today to get up and running.
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marco rubio is good backup bet if you're expecting guys like donald trump will fade into the woodwork. that is the hope for these guys expect to happen but we'll keep you abreast of that. keeping you abreast of the other side, hillary clinton marshaling force of her own, warren buffett campaigning with him. that has allure. got me thinking, happens sometimes on this show, buffett says before he dies he is giving it all away, but not to the government. all that billions to his buddy bill gates, the bill and melinda gates foundation, he obviously thinks as much enthusiast of big government it makes more sense to give it to a charity where the money will get to where it's intended and nowhere else. todaily caller foundation editor-in-chief, chris bedford. charlie gasparino, what we are to make of that. what do you think? >> kind of plays exactly what bernie sanders thing is against her, she is kind after
quid pro quo candidate. she is sporting him and he is giving money to bill and linda gates foundation. they're partners with the clinton foundation. at the same time he will try to pay less taxes. she will support green tax handouts to his companies. so it es kind of pay to play. one thing that really does show she is less worried now than she does about bernie sanders who will hit her like ted cruz for working this cooperation between big ngos, big government and big business. yeah, it is hypocrisy but not anything different from what we've seen before. neil: you're very jaded young man. all right, gaspo. >> warren buffett as we all know is a great investor but if you look at him politically he is pretty much, you know, he has done some very hypocritical things. he doesn't pay highest tax rate. takes most of his income in capital-gains taxes. we should point out i believe he was big investor in burger king, right? who did corporate inversion.
didn't hear a peep out of him. i just wonder when finally the bloom will be off the rose with warren buffett with the mainstream media. when at some point his embrace of all these sort of things that -- neil: never, never. >> maybe never, but will he be a campaign issue going forward any think he is right for ted cruz or somebody to put together a logical, you're for all this class warfare. look who is part of it, warren buffett. neil: chris, the other point is, these guys when push come to shove, bill gates and all that, they are obviously very good with money. they prefer before they leave this earth, not leaving penny to the government, if they can leave to it a charitable foundation that will be better spent. >> he is businessman, he will put money where it will dot most good. he knows private charity will be more responsive than federal government. even with windmills he is little doubter on global warming alarmism. put billions of dollars in wind farms. he said met hillary in omaha, i
would be insane to put this money into wind arms. neil: who is saying that? >> he would be insane putting money into wind farms if not for the tax credits. >> at some republican would put together coherent argument on warren buffett, complete capitalist. neil: you would put it out there, no one would cover it. >> john kasich worked on wall street, worked for lehman. jeb worked and lehman and barclays. cruz's wife worked at goldman. you would think put together something that calls this guy out. neil: but it is not happening. guys, want to thank you with all the breaking news and all. we'll have follow-ups on some fed members getting cold feet on interest rate hike. don't say we didn't warn you but we warned you. you were watching something else, weren't you? that is your problem. it's not ours. more after this. can a business have a mind?
first trading day of the month. stocks up about 100 lines. all of this despite poor to ricoh defaulting on some debt. everyone seems to think that that was a given. you know what, i am not inclined to raise interest rates right now. that could be the beginning of something big. trish: ash carter announcing that the united states will escalate its war on isis by sending additional forces to iraq. taking down islamic terrorists. welcome to the intelligence report. one day after the president was criticized for saying his climate change agenda was the best way to fight terrorism. ash carter and a specializing force. conducting raids, freeing hostages and conducting intel. >> deploying a special targeting force. assi