tv Cashin In FOX Business April 2, 2017 3:30am-4:01am EDT
>> moody's, why do you like that. >> i want to know when the state of new jersey will file for bankruptcy. >> e-mack. >> it's got negative and debt, watch it f f f f for that. david: the number one business block continues with eric biology and cashin' in. >> the next generation would be justified in looking back at us and asking, what would you thinking? couldn't you hear what the scientists were saying? couldn't you hear what mother nature was screaming at you? >> that's a clip from al gore's new movie, truth to power, the sequel to "the inconvenient truth", as the film generates buzz before it hits theaters this summer, some critics here buzzing with the burning questions, are liberals like al gore raising the global warming hysteria and cashing in on that hysteria. i'm eric biology, in a few minutes businessman mark cuban
will join us with his take on robots taking human jobs. and welcome, everybody. mercedes, al gore and some of his liberal buddies are making a ton of cash from climate change, but is that the truth or an inconvenience truth? >> great question, eric. i think that al gore has become the ultimate salesman in this climate change hysteria. you know, i think for al gore, obviously, he left the vice-presidency with $2 million in his pocket and now he's cashing in about $100 million worth of assets. he's been focused on becoming an investor in these clean energy companies, but he have' got to hand it to al gore, he's been able to find a niche. he's been able to capitalize on it and make millions of dollars in the process. while at the same time, eric, flying across the country, and flying around the world, casting millions of dollars in temperature of, you know, in burning up fossil fuels, which
of course, goes against his argument altogether. eric: we're free market capitalists on cashin' in. that's what we're about here and we don't begrudge anyone from making a buck, but hypocrisy, these people are flying around in private jets throwing a ton of carbon into the atmosphere. >> of course, it's hypocrisy. i love you show the trailer, he comes off like a televangelist, like a preacher, and like end of times. his secular audience is eating it up. for them it's a religion. i don't believe for a second that al gore or barack obama would believe this stuff. if they did they wouldn't fly around on jets. his and her jets for barack obama. and al gore wouldn't live in the carbon guzzling mansions. they don't care how it affects people's lives. for barack obama, it's control. al gore, it's money.
the american people, these regulations killed their jobs and livelihood and for people like me it's made my life for difficult. the epa with dishwashers, you can't run enough water to get the dishes clean. i have to run the dishwasher twice or wash them by hand when they don't come out clean. al gore doesn't have to do that because he's rich. he's got people to do it for him because he's making all the money off climate change. eric: and you, rachel, you have a lot of kids. >> i have two dishwashers, al gore would hate me. eric: scary stuff. >> i agree, if you look at what al gore is putting on. is there any fact behind what he's claiming? >> there's absolutely fact behind what he's claiming. take a city like jakarta, for example, in indonesia, where 30% of the residents the city leafs below sea level and have to pump the water out of the water table so the city doesn't sink. right, these are the real impacts of climate change. not to mention the fact that we
another barrier reef that-- >> i'm so glad you-- hold on, i'm glad you brought up sea levels. i wanted to ask you about this. in 2006 al gore gave an interview to katie curric. she asked him what do we have to look forward to in 10 or 15 years, or 15 and 20, whatever he said. al gore said in that period of time, new york will likely be underwater and i think he mentioned the freedom tower area and about that time it will be underwater. now, last i looked, now, granted there may be a couple of years left, i don't see any water creeping up lower manhattan as of yet, richard. >> these are based on scientific model. and when you create the model not everything is right, but we actually know that climate change is having an impact, right. globally. 2014 was the hottest year ever recorded in global history. all right. you have super-storm sandy. and we have january and-- >> i'm going to--
we haven't had a major hurricane in several years, a cat 4 or 5 in three or four years. mercedes, i'm not trying to be the global denier, but the temperature does in fact change. i'll get in and we'll get back to you. >> i think we've got to find that balance. we need to talk about the issues of climate change. i believe that there is this balance between ensuring that we can have a prosperous economy, that jobs aren't lost, but at the same time be an environmental steward. i think it's very important to find that line, but i think it's the hysteria. the fact when you have al gore saying that the polar bears were disappearing because of the melting arctic ice and that's unfound. the details are not factual and that's what you have to point out and he's making money off of it. eric: let's stick to the science, to the facts. not this hyperbole, you'll be
drowning in lower manhattan and the polar bears are gone. the water dirty and the air smog-filled. that's not happening and we should address it. get to rachel. >> how making my dishwasher inefficient help ka jakarta or hurricane sandy. it doesn't. the hysteria is to get us worked up about it so he can make money and barack obama and liberals can control us through big government programs, but it's not doing thinking. >> these are alternative facts and #alternativefacts. eric: here could be alternative reasoning behind the hysteria, put up the full screen, look at the amount of money we've spent the last few years on this global warming, clean energy program. richard $126 billion, it's very profitable to be in the global warming hysteria business. >> eric, this is not hysteria, this is real facts.
we're all-- you're a capitalist, you're a business reporter, you get this. every major corporation, nike, intel, ibm, in their quarterly report last year put that one risk that they are accounting for is the risk of climate change. why would they say that to the investors. eric: what's the risk to nike on climate change. >> read the financial report. it's in the report. >> rachel. >> they're more on intervention than climate change. >> listen, here is the thing, if they put it in the report, if their financial offices-- >> i've got to do this, richard, richard, ill i'm running out of time for the block. what they're concerned about here, being fined and penalized for some kind of carbon footprint they're creating. that's a risk to business. both the ladies pointed that out. not rising sea levels for dirty air. >> richard, to your point, if the companies feel that they want to take an initiative and
a lead on that, that's fine. the request he becomes when you have the economic regulation, the economic, you know, the burden coming from government, basically saying that you need to do this or this is how you have to push a certain clean air. >> what i don't want, mercedes is coal still in my back yard. >> and people are coming oye long-- richard, richard, guess what. >> we don't want that. >> i've got to go. >> we saw it in flint and we don't want it. >> guys, no conservatives want coal silt in their back yards. >> yes, you do, deregulating, ask people of flint by that, when the republican governor poisoned them. eric: listen, this is a hot topic, no pun intended. we'll coming back to that in coming weeks. mark cuban is here to talk about artificial intelligence.
>> we're talking ai for artificial intelligence. who better to talk about this, my friend, the business legend, mark cuban. mark, treasury secretary steve mnuchin says we don't have to worry about artificial intelligence affecting u.s. jobs for 50 to 100 years, it's so far away it's not on our radar screen. you shot me an e-mail saying this is blowing your mind. tell me why he's wrong. >> he's absolutely wrong. maybe the next 50 or 100 days we might not have to worry about it. we're going through a greater technological change in the next four to five years than we've seen the last 30. we're seeing an acceleration in the ability to create specialty
chip sets that improve the processing power to degrees that we've never seen before and that's allowing ai and its derivatives, deep learning, neural networks to take on processes and do things we've never been able to do before and that's going to change our work force, that's going to change the nature of work and that's going to lead to a significant disruption in our work force. eric: okay, i would agree with you, but you start the lowest level and work up. and you see the $15 wagers fight for the wage and what happens in response, automation kills them and destroys their job. is this the bottom and beginning of opening up the flood gates? >> regardless of the minimum wage, whether it's a penny or a million dollars an hour, technology march is on. entrepreneurs like myself we don't look at the new technology and new opportunities and say, should we use it or not use it. we find ways to apply it and find ways to create new industries, that's the fun of
being an entrepreneur. so, things are going to change whether we like it or not. the goal is to make sure that we do it here in the united states and disrupt ourselves. eric: and economically, you force the change faster because you artificially push the minimum wage up you're telling entrepreneurs to say, hey, i don't need to pay $15 an hour and health care to a robot. let's explore this. >> entrepreneurs are going to entrepreneur. technologies are going to technology, that's who we are and what we do. we are he looking to optimize processes and make improvements because we know the rest will change. the technology follows is s-curve, it may be more expensive than a $15 wage today, or less expensive, but it's going to accelerate and cross over at some point anyway. it's our job and what we do to find solutions that may not pay off for five years or ten years, but it will pay off. eric: i agree with that. here is something i don't agree with, bill gates recently said you know what we need to do,
when a robot or an artifical intelligence thing replaces a human being, we need to tax that robot on a personal income tax basis. you're taxing the company already on the profits, but then go ahead and the replacement robot gets taxed personally? >> you know what, it's counter intuitive from a conservative perspective. i understand why it's kind of strange, here is why i agree with him. in particular with social security taxes so we're already going go through a process whereas the country ages, we're not going to have enough people paying in to social security to pay for all the people that are going to be receiving social security is one example. and so, we're going to go through this disruption, where you can see fortune 500 companies reducing their employment by 30, 40, 50% and then that will tag down into smaller companies. if we go through a significant disruption, we're going to need more people, even if it's a robot, as a quote, unquote, person paying in to pay for the
money going out in social security. i don't expect that to be changed. >> on one hand, you sound so entrepreneurial, you tell me the progress is going to happen with or without, and let it happen. on the other hand, i would think you would agree as a business owner, the more you tax an activity, the less likely you are as the business owner to continue the activity. therefore, if you're taxing a robot on a personal level, you really disinnocecentivize me to replace a human with a robot. >> when you look at five years, 10 years, 20 years, you know robots and artificial intelligence and its derivative are going to be there. as an entrepreneur, running a fortune 500 company, general motors, ford, google, we've got to disrupt it, otherwise someone will disrupt us. it's a global economy and if
artificial comes from china, germany. robotics are so big in china, if they're doing it and we're not for whatever reasons, we're out of luck. it will be disincentive. if don't have enough money to pay out in social security, we know is potentially going to go bankrupt we have problems. eric: it feels like you're stealing from peter to pay paul. and there may be an ability for a smart tv or phone to listen and and tape conversations in the house. >> sure. eric: people are really, really freaked out about that, should we be? >> yeah, but it's simple to protect yourself again. you can put tape over it or just make sure to change the default password and change your password every six months on your internet, and devices, we web-cams, whatever it may be. the problem is most people don't change the passwords and stick to the default password which makes it easy for any hacker to break in.
eric: all right, mark cuban, thank you very much for joining us. >> always, eric, a pleasure. eric: a special segment inspired partly by you, my friend, artificial intelligence. >> hey, i saw it on ci and i watched it and got me talking. eric: and congress has me and steven colbert agreeing on something, privacy at risk? yeah, me and colbert. shocker. liberty mutual stood with us when a fire destroyed everything in our living room. we replaced it all without touching our savings. yeah, our insurance won't do that. no. you can leave worry behind
hour with leland vittert. send it back now to cashin' in. eric: now might be a time to clear your browser history. >> hit the button or pull the lever, i've never used it, i've got nothing to hide. i burned my computer this morning. so, this is what's wrong with washington d.c. here is the deal. i guarantee you, there's not one person not one voter of any political stripe anywhere in america who asked for this. eric: a fox news alert, i think that steven colbert is right.: i think that stephen colbert is right. and we have them scratching our heads and i'm nervous about this. >> when you have colbert and biology agreeing and you have a stink bomb here.
the white house says they'll support this. and the smart thing that donald trump could do, save the republicans from that bad vote, veto and help the americans retain their privacy. eric: what about congress doing this and finding time to impact our privacy. >> and this is the lobbyists doling out the bill. and the cable bill, not only that, but they get to sell our information? this is ridiculous, but donald trump will sign it and it will be become law. but the a least we can agree that barack obama did something good making sure our privacy was-- >> i did like that. >> go ahead. >> the companies are already telling your information, let's be real, this is what google does and internet providers do. i think it's understanding the technicality of the bill, which is the fact you have the fcc that basically stripped the authority from the federal
trade commission, but companies right now, they have binding and enforcing policies in place to prevent consumers' privacy. i think at this point this was a step in the right direction in terms of ensuring that you have this-- >> i can't believe you're standing up for this. >> i am, i am. and a misunderstanding on the bill. >> fourth amendment. eric: we have to go, but let's revisit this, let's revisit this soon. and this is a big story. this is a big story. and we're going to have to hit this at another time.
care. that drives them crazy, they need him more than he needs them. and one tweet reaches more than the media outlets combined and that fact is buzzing around in their brains and they can't take it. every word that trump speaks is parsed and picked apart and dissected and yet, trump doesn't care about the media's feeling, i applaud that. after all america elected trump to make life better for all of us not just mega media. the and the criminals illegals planning to stay put are being deported. the economy is roaring back to life and consumer confidence topped a 16 year high not seen since before 9/11. home prices spiked to a 31 month high as well and get this, yesterday ended the quarter. want a report card for trump's first quarter. open up your 401(k) statement
and that will put a smile on ignore the media busy buzzing the hive for controversy, there isn't one. give the man a chance, he's doing great. what matters >> lou: president trump in a battle to build that border wall. president p president wants money for the wall and spending bill and the democrats threaten a government shutdown. interior secretary ryan singke. said it must be done. >> a nation without borders can't exist. >> lou: he is our special guest tonight. president trump announces the formation of a new office of form aegz. it will be held theed