tv Cavuto on Business FOX News October 22, 2011 7:30am-8:00am PDT
>> oh. >> sweetie time. >> and this is like jonas, i do not like the hersheys. >> brenda: well, you know what, i love chocolate and i also love neil cavuto and he's on next. cavuto on business, take it away, neil. >> neil: in flint, michigan, they cut their force in half, murder has, rates have doubled in the last year. >> i wish shed some notion what it's like to be on the other side of a gun. it's not temporary to the guy whose store is held up and a gun pointed at his head. and the cop shows up and he's not killed, that's not temporary. it's not very temporary for that life saving home invasion, because the squad car is able to respond in five minutes instead of 30 minutes. >> forget halloween, the white house is now making its own scary movie. glad to have you, neil cavuto. is the white house taking
scare tactics way over the top. the vice-president's fright night was not enough to get them to sign on on a part of the president's bill. and other pieces of that plan, get ready for a whole bunch of remakes. ben stein, charles payne, dagen mcdowell along with adam lashinsky and charlie gasperino. all right, charles payne, i've seen this before, on steroids or in 3-d. >> the vice-president. united states suggesting that republicans are responsible or would be responsible for rape? which by the way is not an economic crime, but somehow they're encouraging more rape of women and then they're going to fourth grade school and talk to these kids? i remember when president obama or senator obama was running for office, he says that wives and kids are off limits. not if you use women in the idea at that they can be raped to push through a jobs bill?
this is despicable stuff. >> neil: dagen, and trying to understand the meanings of the remarks, i think he's saying we have increased joblessness and more likely we'll be with these maladies and even that's a stretch, isn't it? >> it's absolutely a stretch. can we say what it is? it's crazy, it's crazy talk, but now what, these stair tactics work. >> i think when you yell it-- >> that's crazy, i was laughing. >> listening to you. >> it's bananas. >> (laughter) >> and it's crazy. >> but you know what, those scar tactics work, tarp, stimulus, the sky is falling, the world is going to come to an end, health care, and now people are becoming numb to it. >> let's try for a second to take it seriously, okay? if you take a seriously, his argument is, if the economy does bad it generally leads to
high crime rates. >> no, no, that's not the argument he's making. the argument he's making, if we don't hire more cops, he's not-- >> the time now is not-- >> no, no, no. >> and that's one thing he said. he was talking, if we don't get economic growth. >> and the jobs, it's more than cops. now we have to look, if that is historically accurate and i will just say this. the 1960's, was a time of pretty good economy. and we had massive increases in crim. okay. >> i don't know where to go with that. ben stein, here is what i'm worried about, that the more we get talk like this, i think the more we can guarantee not to get on either side and so the next year, this is what will be status quo. what do you think? >> well, i think that two issues here, if i may respectfully say so. one if police are being laid off and police should not be
laid off. if vice-president biden said we should put up money to keep police from being laid off. he's totally corrects. i'm on the side of the police and not let them be laid off. if he's saying, if you don't pass the jobs bill people will riot in the street and-- >> that's what he's saying. >> that's virtually criminal in and of itself. that's virtually criminal trying to threaten the people of middle america, with mob violence, that's extremely bad behavior. >> that's exactly what he's saying. when you pars through this, it's more than cops. he's saying we have a bad economy, people are going to start doing bad things and here is the thing-- >> and is he saying that-- >> that's not what he's saying. >> wait, wait. everyone is right here. and charles from the outset. he was speaking to police in b benevolent association, and he was saying the police were compromised and spoke to the-- you know, that we have higher jobless rate, a higher
likelihood of seeing-- >> and is that so-- >> and so, adam, what do you make of those fear factors? >> well, the scare tactics are nothing new and by the way, they're not -- the democrats have no exclusivity on scare tactics. i mean in the last administration, we had administration using scare tactics. >> ten seconds to get back to the last administration. >> to its citizens, why not go back? because we have to say more as usual. >> why don't we leave miller out. >> i'm sure he was pretty nasty about that. >> you talk about your scapegoater, but go ahead. >> charlie was starting down the path of being reasonable. i mean, you can look at the '60s, charlie or you could look at the economic strength during the reagan administration and the clinton administration when crime rates did go down. i was bipartisan about that, neil, it's worthwhile to point out. this happened-- >> what ben said before, an
economist, who knows about correlation, there's no correlation here. the '60s was a time of increases in crime. it was a time of very good, it was a good economic period. and-- (laughter) >> we know what ben was doing during the '60s, and adam, if this helped deal with crime, we'll answer this, after the 80 billion dollar boon dogles, we should have no crime. >> neil: and show us about the '60s to assume that building more roads and bridges helps prevent the kind of calamities like that, the fear, isn't that a stretch? >> it would have to be high on something. >> and that's the why you use scare tactics when logic doesn't work. you want to talk about crime being high. 1.3 million more burglary than when obama came in office and
more murders and we had a smaller population, there's something about the aura, the office commander of chief that the president isn't taking advantage of and that's where he's missing out. if you make the country feel better about itself. i feel like we're changing the subject. >> no, if you're going to use crime, if you're going to use crime as something to fear you've also goes to talk about-- ronald reagan, crime when he came into office was at its peak in this country, we gave up. the policemen were underfire and he did not use this sort of tactics to get us back on track. >> we put them in prison, we put them in prison, charles. we put them in prison and we had more people in prison than we've ever had, that's why we have lower crime, are they're locked up in prison, we have a huge prison pop lags and that's what we've done, it's a good solution. >> the bigger issue, the scare tactics that this administration uses and. >> well. >> wait a minute, they're lecturing and hectoring. president obama said in july
and i quote, part of the problem with the political process is folks are rewarded for saying irresponsible things to win elections or obtain short-term political gains and then you've got numb numb-nuts on the campaign trail talking out of his back side. >> whoa, whoa. >> does it surprise anybody that biden is making these statements? this guy is an awesome rocker, and he's-- >> i object calling the vice-president numb-nuts. >> i wasn't talking about him. >> oh, okay. >> how about off his rocker? >> and how about plagiarist. >> a nice guy, he's a really nice guy. >> he's a nice guy. >> and civil violence and should be a line drawn in the sand, both sides use scare tactics. >> you and i use scare tactics, can i-- >> go ahead. >> what about when bush 41 ran for president, and he used those ads showing that rapist that dukakis let out of prison
who then went on to rape and murder others. >> willy hortons, that was a bit of scare tactics. >> we should point out bush did not use that that was a privately funded-- ments that was bush 41. >> by the way, it had no effect or correlation to a jobs bill then or now. >> it was a privately funded. >> absolutely true. >> and that had nothing to do with bush. >> well, i think we kind of wrapped this up. and meanwhile, the post office needs cash right now and a lot of it. guess who the union is trying to bring in to deliver? the guy who helped gm get a bailout and that has the forbes gang worrying your next piece of mail will be a big bill for all of that. that's at the top of the hour. and first gaddafi popped. on the day he went down why didn't stocks just move up? maybe it's something to do with something right here, that needs to pop.
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>> hi everyone, live from america's news headquarters, i'm jamie colby. body of sawedry crowned prince abdul aziz reportedly being flown back to saudi arabia this morning. the 85-year-old passed away at a hospital in new york city after a nearly eight year battle with colon can. he was first in line to succeed his half brother king abdullah paving the way for his controversial younger brother to take the throne. an american diver killed in an apparent great white shark attack in australia. police say it happened near a popular tourist spot off the rottnest island in the west part of the country and the investigators are withholding the identity. the 32-year-old man was diving by himself at the time of the attack. i'm jamie colby, keep is here on fox. back to cavuto on business, see you in 30 minutes for more headlines.
headlines. >> well, a dictator goes down, but stocks barely went up on the day he goes down. news of strong man muammar gaddafi hit the streets and he was dead on the streets and wall street not batting an eye. charles payne, you said they're focusing on a different war. >> yeah, the war on success and america is too much. the night before winn casino reported earnings and steve wynn went off and talking about war on achievement in this country and businesses and why the market has been grinding its gear. this is a time when getting gaddafi and would have been good for 500 dow points and we're focused on other things. >> i think that they look at fundamentals and libya-- >> fundamentals, yeah, when it comes to foreclosures and interest rates and then gets emotional. >> years ago, you know, years ago, charlie, if you were to have taken down all of these, you would have seen the
markets. their overriding concern-- >> why? because of increase in oil production is this what is the increase in oil production. >> relief. we were more concerned about terror-- >> maybe, it's not there now and the market has moving over economic issues. >> that's what charles was saying. >> how much oil, how much oil does libya produce? i don't know, a big major oil produce. >> 27 million barrels a day, used to be 3 million. >> it was a 12th largest expo are the in the world. >> catching him had no impact. >> zimbabwe just moved ahead. >> if you worry about africa and middle east you're going to worry a whole lot more about iran, particular will with the assassination plot that was revealed, the amount of oil that that country produces and then you look to libya, who is going to fill the vacuum? there is no system of government in place, a lot of unanswered questions and uncertainty. >> adam to all of these folks'
point. i think the basic common theme we've moved on to other worries. >> right after, let's say 9/11 or first couple years in iraq, any news like this would have been greeted very differently, but now, it's kind of ancient news. >> well, the real news here was when he fell from power. and then he was neutralized. now, the stocks did up a little bit in february, but it's just one factor, neil and his getting killed, essentially, is old news or irrelevant, right? he wasn't causing any problems anymore, but i agree with you, bar, this is the threat of terrorism is far lower than it was. i mean, we're -- the president announced last week they were getting out of iraq completely, it's not over, but it's better. >> neil: what do you think of that, ben stein? >> well, the market exists to discount future earnings and tell people the value of future earnings, and had no effect whatsoever. i agree with you, entirely, neil, that it should have been just a rousing cheer going up
from this trading floor, if machines can cheer, but it has absolutely no effect on corporate earnings and hence, no affect on the markets. and i don't think the fall of any dictator anywhere would move the market. >> spouse the saudi family had issues, suppose they would be-- >> that would be, that would be-- >> that would be-- >> that would be hugely different. >> the economy, the economy, the economy, going to dictate-- >> bush, sr. found that out the hard way, right? >> the intanningable war-- we've gone from the war on terror and usama bin laden, that should have been a big pop. >> why, nothing to do with earnings. >> the market has to move every day on corporate earnings, based on perception of what our future will be like and right now, stocks are undervalued. if you just did numbers alone, the dow should be at 16,000, there are other things that are compressing the market, and making people worry, and a lot of that has to do with--
>> all of that-- >> go ahead. >> charlie, charles, all about corporate earnings in the long run. >> and the terrorism, it's terrorism and corporate earnings. >> he wasn't doing any terrorism towards america. >> no, he was-- >> he was a no factor. >> gaddafi. >> yes. >> well, i don't know, i agree with-- >> in the long run, but in the short-term, and in the short-term the market is-- >> looked like wayne newton, doesn't he. >> all the money in the world doesn't help you. >> and banks money bad, apple making money, not so bad. an iphone, how about you? almost tastes like one of jack's als.
>> well, capitalism alive and well, and i'm not talking about the capitalism the wall street protesters are bashing. i'm talking about apple and the capital that it is simply making. sales of more than 28 billion dollar bucks in three months and that's considered a disappointment. apple generates more money than the fat cat companies, the protesters are looking at and ranting against combined. charlie gasperino, it is a bit selective, is it not? >> if you go down there and interview them like i have, and charles have, they have outrage and muddled message on economics. they know little at economics. you know what they can get. >> they hated both of you guys. [laughter] >> they didn't hate me?
>> they hate you. >> here is the thing, you know, some of the-- here is the thing, they don't-- >> i saw you with them, they hate you, they hate you. you can put a nice spin all you want. >> a nice guy, the broadpoint i'm trying to make, they know little about economics, they know a lot about marxism and collectism and that's the scary part. they're hipocrits, too. they celebrate, they celebrate capitalism, which is what they always say they hate at the same time they're bashing it. >> the funny thing is, there was no more ruthless book than steve jobs. in the book about him he comes out and says i'm going to kill android and willing to go thermo nuclear war on this and says that google basically stole the iphone technology and then they just, they worship steve jobs and people-- >> by the way the same steve jobs, the book that we come out and believe says that the president's regulations and
stuff were going to make him a o one-termer. do you think, charles, there's a mixed message. some people's money is i don't know, greener or nicer than others? >> i think so, and the hypocrisy that charlie talked about why it's going to fail. >> neil: what, the protesters? >> protesters. i've seen it in the black community, good white people and bad white people, depending on which is political. and from president obama made 28 million dollars and don't go to george soros house, you go to people you think are registered republicans. >> they protested outside of jamie dimon's house. >> definitely not a republican. >> neil: adam and ben, your quick thoughts on that, adam, you, first. >> i don't think it's complicated at all. these people are capital lists, they like apple don't like banks. >> nobody likes banks.
>> banks aren't capital m these days. >> ben? >> you know, something, adam is bringing up a brilliant point. banks do a terrible job explain what they do. banks should do what the oil and gas companies do, explain what they do. they serve useful purposes, they're not explaining at all. they're portrayed as vampires and they've got to do a better job explaining what they do. >> don't treat me like an airline. >> i would say that banks are not capitalists, one things we failed to point out. they're crony capitalism, government, and bailed out and hard to explain what you do when you're kind of not a capitalist business. >> you're again, conundrum on the side of the protests-- >> i'm going to run around with red hair in a while, like joe pesci. >> and mid americans are getting a social security raise, 3.6%, but how would a profit ten times that amount sound? well, if you were listening to charles payne last year, that is what you'd be getting with
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