tv Your World With Neil Cavuto FOX News November 22, 2011 1:00pm-2:00pm PST
now it is your world with neil cavuto and this is the fox news channel, america's choice fors in and information on cable. 10 years. and counting. >>neil: thank you, ain't this is a kick in the baggage, congress fixated on soaring baggage fees, not fixated on our soaring debt. welcome, everyone, i am neil cavuto. call it an open and shut suitcase. congress now taking on baggage fees it feels are too high and ignoring our debt that is, well, sky-high, so $15 trillion in debt we can ignore and $15 baggage fee we cannot. they are considering a bill to limit the fees airlines can charge for everything from the luggage you check to the size bags you carry on. to pat caddell who says "come on," this is not about our suitcases this is about politics of both parties acting like nut cases. you say bag these guys but here
we go. >>guest: yes, i certainly am not going to defend the airlines because they have been ripping the country off and their customers and the country when they took the tax money they didn't, that wasn't collected, and decided to keep it, but, you know what? rome is burning and these people are fiddling. they are fiddling with something to get them support, both the entire structure of both political parties and the establishment have collapsed, and the president is able and we have $15 trillion we passed every day it gets worse, and they are not doing anything to stop what is the country's perception of we real decline and real disaster and they just keep kicking the can down the road, reading the papers today was so depressing. because for them, it is just politics as urge. >>neil: what do you make of the argument that, look, this is stuff that we can agree on, we can try to address, and there is
a big debt stuff that pat is alluding to is more cumbersome but if we can grand things on the margin, better than just leaving this town having done nothing. >>guest: well, the instinct that is here is ridiculous, rather than going to the juggler. people care about re-election and politics. our president does. i have never seen a president who has been so unengaged and, yesterday, i had a piece urging him to step aside for hillary clinton for the reason someone needs to do something and the division between the parties. this is not a problem that can be kicked down the road. we have not done anything. >>neil: but a lot of folks haven't done anything, right? both parties befored it. >>guest: both. >>neil: so, what did you do throw all the bums out?
>>guest: i think right now the dominant instinct in this country if they have an alternative is to throw the ball -- throw them all out. the political elite has failed the country. people laugh i think donald trump could do well, i could name half a dozen people could do well in challenging this. right now the american people are saying, the political leadership of this country has failed and all they care about is beating up on each other. no one seems to have an idea about reversing the decline whether it is if our economy or jobs but we are going break. these people are saying, we can just keep putting it off. the american people sense disaster coming and i think as we saw in august, the result of what happened with the super committee we will be to drive up the disenchantment, both with the president, the congress, and both parties, and the willingness of people to say give us another alternative. and they are going to get did or three of them. >>neil: if people remember the
latest thing you have done or not done for them, and here it is reigning in the airline fees which you say, and i am surprised because i thought you took private jets but be that as it may this is something that has irked a last americans and they have a handle on it and members will remember that and say at left they got that address. what do you say? >>guest: look, i'm as much as anyone offended by what the airlines have done. and they should have, they could have dealt with this two years ago, last year, no, we can't give you a job, we can't give you a future for your children, but boy, we will now take care of your baggage fees and when they are not all up this using the insider trading for their accounts, this country has had it with the political class and this failure is a mockery to the american people. >>neil: i hope you have a happy thanksgiving regardless and i hope you are not take a commercial flight. >>guest: you too, great.
>>neil: from door busters to busting the economy, the occupy wall street gives are targeting the retail gives, with posters plastered calling for a black friday general strike to boycott major retailers, up to 100, and she bone on the new holiday threat retailers are bracing for. what are they trying to do? >>reporter: they are moving from zuccotti park, hello home depot, occupy wall street, moving into the occupy black friday moment to take on a new cause hitting the retailers on this important shopping day. now, according to a website www.stopblackfriday.com the intent is to hurt the 1 percent in the wallet so in addition to dodging long lines you have to maneuver through the protesting crowds at large chains but it will not step there. there could be crowds gathered outside the dollar tree and
dicks sporting good, the favorites of the elitist 1 percent and online shopping is discouraged at amazon.com although this is a website, and the protesters will not stop this holiday shopping season, with occupy oakland coordinating a massive intent to shut down ports across the entire west coast on december 12th, and that shows that the port of oakland employs 73,000 in the region but the movement says that it has disrupted the lives of long shoremen and truckers who create wealth toward the elite so happy holidays and happy protesting to you. >>neil: subway is frequented by the elite. by that definition ... i don't know. >>guest: and bringing the chance down of seeing neil cavuto on black friday from slim to nothing. >>neil: but the subway thing
looked good. my next guest is a strong supporter of occupy wall street, and the entire movement, but, not supporting this. and now, sally, you say they have crossed a line here. >>guest: look, the impulse is correct, we should make the committee work for the 99 percent of americans who have been working harder and harder for less and less money and figure out how the 1 percent can pay their fair share but there are two issues. the calls for black friday was made by a small minority in the larger movement, movements are messy, and this calls on the people who are poor and middle class and working class people who go shopping on friday because this is the only weekday they have off. >>neil: do you know how subway got into which? >>guest: listen, i don't maybe they will start the 1 percent foot long or 10 percent long. >>neil: you argue they are targeting the wrong dies? >>guest: look, we know, thin who is paying attention, has
figured we do not need to give more money to the resources to stimulate jobs but, next, companies are waiting for demand. we need consumer demand. that is what black friday does if this country trying to kick that in the knees and further hobble the economy is counterproductive. >>neil: this is a cry for attention. >>guest: look, as the movement moves away from zuccotti park it will try on different tactics to see what fits and in that sense, great. but, on another level, look, the problem with our economy, you can say it is wrong that someone works at walmart which is true, works full time qualifies for medicare and food stamps because they are so poor, and, at the same time, that is not the problem with our economy. the problem is that it is increasingly taken over by the financial sector and by wall street firms that make money. >>neil: i know that, and we can go interest a different tangent on that. why take on walmart and pick on
pie one. >>guest: it has something to do with the top grossing companies but if you look at the top businesses and the top retail businesses, their receipts have been down dramatically. >>neil: this is winning over main street america. this is where mainstream america shops and you make it more difficult to shop? you not bringing people to your cause. >>guest: i agree, i agree, they are trampling on an american a addition. i grew up in suburban pennsylvania and every friday we braved the crowds and went shopping on black friday. that is what you do if you are an american. >> the occupy wall street crowd is anti-american and destroying the fabric of everything we hold dear. >>guest: it is appropriate to eschem consumerism. >>neil: they don't know what they about. >>guest: we have had their conversation. they know what they are about. >>neil: you said they are stupid? >>guest: i don't think is. we know exactly what they are about.
which is, making the economy work for hard working people, the american whose have been working harder and harder. >>neil: but they are doing this outside of walmart or doing this outside of, you know, subway, i mean ... the message is so out of whack they are with all of these names hitting the very folks would they want to protect. >>guest: that is why, the "they," whoever that is, it matters, it is just a small part of the 99 percent movement so . >>neil: if they go through with this they have lost america. >>guest: but, again, it is a small minority, and the larger groups are say, move your money out of the big banks that foreclosure on people what don't have jobs. do something to stop foreclosures and do something to adjust home mortgages and reduce principles. >>neil: so now you delineate between the "some" and the "many." >>guest: that is where the energy will come from.
>>neil: the tea party movement was consistent. >>guest: they're messy. >>neil: i told you those who were sleeping in the park and having sex in the park and smoking dope not park they were the exception. >>guest: i am saying this boycott of black friday is the exception not the rule. >>neil: who is next, pizza hut? >>guest: you slice that pizza up and you wonder, why don't the 99 percent get a bigger slice. >>neil: that was good. >>guest: thank you, you got for give me that one. >>neil: get ready for the "sheet" to hit the we fan. these guys say gas prices are comfortable. stint that -- isn't that comforting?
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test for the largest banks something they do now and then particularly with situation abroad to see if something comes up can they handle it and it will be reserved for the biggest banks in america including bang of america, city group, j.p. morgan chase, morgan sugar suga. saying this is for bangs generally based on rice and the movement that occurred back the second half of 2008, in other words, if the movements during the great financial meltdown were to be mimicked could the institutions dealing with them. so it is a dicey test. time for fingernail biting. and get ready tore get whacked at the pump, americans hitting the road for the holiday and hit with record prices for this time of year, and it will cost you almost 50 cents more a gallon to fill up compared to last thanksgiving. that is okay with opec saying he
is comfortable where prices stand today but not is existable with the statement, so, fill, you tinge that should worry us? >>guest: well, it should. and opec tries to ruin every holiday. it seems like they are not holding an opec meeting on christmas they are trying to ruin thanksgiving and they do got have to drive to grandma's house, so they are out for themselves, and it is time here in america, we senator opec a strong message. >>neil: opec and the ministers are very surprised prices have held as high as they have because the economy is struggling and they expect the prices to tumble early but that did not happen. why didn't it happen? and what should we do about it. >>guest: because the global central banks around the globe are supporting opec, believe it
or not. when the federal reserve here in america is printing more money trying to stimulate the economy or keeping interest rates below zero that stimulates demands and makes the cost of the product higher and despite the fact that opec did not lift a finger to help the economy they have done what they can to step on the global economy, the rest of the world by trying to safe their economy opec has been a beneficiary, opec life they have been in the facts they are siphoning off the economic growth and basically trying to stay in power because they are under a last pressure. >> you have advocated similarring if more oil here and we had the pipeline problem, and we delayed that for environmentalist reasons and that could be addressed, or not and we know can dan is looking to shop that oil to any willing bayer. the chinese come do mine.
what do we do? >> move forward with the pipeline, delay of the pipeline is politics, the obama administration did not have the courage to make a decision. they did not want to anger one part of their base or the other part, whether it be the labor unions or the environmentalists, and the bottom line; the best decision to make for them is not to make a decision. and this argument that a republican governor in nebraska didn't want the pipeline because it went over a water acqufier, it would be easy 18 months ago to say it is a problem, but the pipeline has to get build and it will and the obama administration wanted to kick it off to the election and put the jobs off a few more months. >>neil: it is an easy pipeline to move but we will see what happens. have a great thanksgiving. double dip or let it rip? the economy is slowing and downgrade fears mounting and now the biggest banks could be
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>>neil: we will realert what we think is big news, the federal reserve is going to be conducting stress tests with the nation's biggest banks as a precautionary effort to see if we were to go through another fall 2008 when the entire financial system, of the world, really, imploded. how are the banks able to handle that? can they? are they set up and have enough money behind them to deal with that if it were to come to pass? six big institutions including bang of america, and wells fargo and citigroup and others, and money watcher watching that
closely, and todd you say this has to do with europe and what going on there and the global concern? >>guest: that is right. look at the debt concerns in euro region, $1.5 trillion in debt issue that we need to worry about if you include portugal, spain, italy, ireland and greece. and then taking into accounts this is speculation $500 billion the banks that you just mentioned, that have exposure to europe debt. and if that is the issue, yes, this stress test is necessary because of those banks will impact our u.s. banks. >>neil: the view is with the new financial law, dodd-frank, we will not rescue a bank if its hits the fan, and we have this no longer too-big-to-fail rule but i can't believe that. >>guest: you are right. you have company right now with
bank of america 240,000 lows that are emily ready and they announce adlai off announcement of 30,000 but that many people unemployed, just the unemployment picture they would hit the unemployment roles and the mortgages and the other loans that are held there, it would be catastrophic if bank of america went under. so you have to wonder will the u.s. government come in? of course, they have to. it doesn't matter how big they are in debt because this is always so much money and only so many resources committed to get them back on their feet. you pull the plug you lose everything. >>neil: what did you make of the timing of this? it scares people when they consider it. >>guest: yes, look, the europe issue is a time bomb and when you looked back, the greece should have been taken care of but now it spread. and it is spreading fast and
impacting the entire globe. the imf said, look, we will hope with liquidity but then you will turn to china and the united states, and we cannot help them receipt new only because we have our own fragile economic picture we have to deal with and you look at the swine picture everyone is affected but the center is europe. >> what if the bank fails to say they fail the stress test if then what? >>guest: you will know. how much of the stress test did they fail? the details of it you will not necessity. the u.s. government will come out and say they did not pass the stress test, they have a right to say that, they have to say that, however, do they miss the point? do they miss the mark by billions? the "wall street journal" article talked about the lack of strength that bank of america has, they need to help their own bottom line, and have a healthy
recovery, it can impact everyone. >>neil: have a great thanksgiving. lawmakers now are flipping over this committee, calls mounting to vetted on the simpson-bowles deficit cutting plan including senator graham and he is with us right now. senator you want an up or down vote on the debt commission plan. >>guest: yes, something that will change america's future and bowles-simpson has to have language drafted and the better choice is the gang of six which is more maturely developed and lowering tax rates but either of those proposals which were barn been that are big deals need to be on the table so we can vote on something meaningful. >>neil: your republican colleague would say no because of the tax increases if that commission work. what do you say?
>>guest: a lot of democrats will say no because of entitlement reform. i am in the camp of keeping america from becoming like greece, spain, and italy and what bowls simpson it is lower rates by limiting deductions and if you eliminate deduction you take three of the dollars to pay down tax rates of $1 to pay down debt that is okay with me. >>neil: this is the battle royal and i know you want to fine another way because the super committee band it but the temperament in congress to do this, you heard the famous incident last week where a chairman of a company was cursing paul ryan not blaming him per se but saying he was frustrated by the talk we have to wait until the next election to do anything. >>guest: we don't have time to wait. last guest described european
situation that could affect us. we have a chance here, you have two ban ban products, gang of six, bowles-simpson get them up so they can be voted on and all of us take hard votes to keep america from going bankrupt. this president has been a pa net evening fiscal leader. the obama budget got zero votes and threw the plan under the bus and added 35 percent to the national debt when he had the majority so president obama has been awol on the super committee negotiations so i hope people will consider firing him and hiring somebody would will actually lead because he has been very weak when it comes to providing leadership for save america from bankruptcy and i'm willing to vote on anything that makes sense. >>neil: thank graham, thank you, we will hear from colleagues on both sides but we are thankful for you joining.
what does senator simpson make of this? he worked very hard on this, and the co-commissioner of the tax group with all of the tough recommendation and is my special guest an hour and a half great now on fox business network. you do not get fox business network? demand it. the president blasting the "do nothing," congress. stay tuned.
>> the republicans in the senate refused to debate it, 100 percent of republicans oppose it. >>neil: another president on another day, remember this? >> i recommend an increase not -- in the minimum wage. once again, nothing. absolutely nothing. >>neil: harry truman blaming a do nothing congress. and winning. karl rove on whether this president is following. >> why think so, he was running against a do nothing congress in 1948, a republican house and a republican senate that said, wait until after the election and we will work with dewey but we will it is on our hands and here we have a republican house and a democratic senate with a republican house passing initiative after initiative and
beginning to die in the united states senate under the leadership of harry reid, so, the president is counting on the failure of the super committee to the republican's disadvantage. it does to a slight degree with a new poll saying who do you blame for the failure of the super committee? obama and democrats 389 percent but the republicans 44 percent, but it is not all, there ought to be a bigger gap. but here is the problem, do you have, do you approve or disapprove of president obama's ability to deal with congress? approve in may was 49 percent and today it is 38 percent. disapprove was 44 percent in may and today it is 58 percent. this eats away at the image of the president as a strong and effective leader, that is the most important thing a president has going for him, and, frankly, we will have a double white board here today, a new president that says do you think president obama is a stronger or
weaker leader than you expected. stronger, 32 percent, weaker leader, 60 percent and independents say 65 week as weaker leader so the president is weakening himself in advance of the 2012 election, not strengthening himself. >>neil: two incredible things. did you write that without looking at it? >>guest: a talent. a minor tall end. >>neil: and now i forget the other question. if the president can effectively get some of the blame game and say, boy, if not for tem i could have done more. in the first couple of years he had the rule of the roost of the house and senate, anything he wanted, and, now, is it going to fall on death ears among the many americans who remember that or will they thing, well, yes,
he wanted it do more stimulus, and republicans blocked him in the house. what? >>guest: look, he is in bad shape here, and particularly when there is a republican candidate who is running against him, my former colleague who now is at stanford, he had an interested post saying, contrast what carney said in the press briefing year, the president he said is "very engaged," along with geithner in trying to solve the european get problem but unengaged with our problem. he had a have majority in 2008 and 2009 and they made it work with simpson bowls and he dismissed it and called paul ryan, trashing him, and backtracked during the grand feel and they said i want $400 billion more in taxes, and then the super committee and he has been uninvolved and i add
entitlement reform and the debt takes this much in the state of the union and high-speed rail and internet, and greenless jobs take up this much. he is not engaged. we know it. think of this, since july the president has been tied or behind in generic republicans. before july he was ahead of generic republican. what happened in july the battle over the debt crisis. >>neil: i will put you down as a "no" vote for rebounds then. good to see you, whites board and all. and targets wantses to save you money and thousands of employees say they want their thanksgiving. both sides of the brawl next. sms most powerful trading app ? total access - to everything. from idea to research to trade. including financials, indicators and real-time streaming quotes. whether you check your investments every day or every minute, our app can take them from
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profit, they do not want to work and cuss tops don't want them to work. but, first, the problem for a guy who loves his family and loves capital im. dave, where do you stand? >>dave: well i love my family but i love capitalism, and i love target's right to do what they want did do. i personally am not going to open my business on thanksgiving, my employees will be at home. i'll be home. we will be with our families. and we can make some extra money if we did that. we have a retail operation. but i made a values based decision not do do that but i stand for target's right to do that and there are not 200,000 target employees so someone trumped this up. there is a game going on to the background. >>neil: they included customers, as well. just so you know. by the way, would you still --. >>guest: if you don't want to work on thanksgiving and your employer wants you to work, work someplace else, >>neil: would you feel differently if you were
with your in-laws exclusively? [laughter] >>guest: some might be look for an excuse to get out of anything. >>neil: i understand way are saying about, look, this is a business, and the business world, now, increasing more and more working on holidays but a lot people are saying, could we go slow on this, could we think this through because in the mad dash for cash, we will all be working 24/7 every holiday. >>guest: in the south we had blue laws and no business worked on sunday because the south in particular, is inundated by christianity. i'm a christian. i don't, i'm not offended by someone opening on sunday. but my friend has decided to close her store on fund and it makes more per store in six days a week than some of his competitors across the street.
so, it is a great decision to do that and our business is not open on sunday. so, there are lots of people that work during that time which traditionally in years gone by was a time we didn't work. >>neil: well put. have a great thanksgiving. be well. now the very guy who started this petition, target employee anthony. have you gotten any grief from the company? >>guest: no, actually, it has been really quiet from the company. i see silence from many. >>neil: are you scheduled to work thanksgiving? >>guest: no, my services are to longer required by target on black friday. >>neil: but you, when you say "services not required," you is not been fired? >>guest: no, no, i was originally scheduled to work
11:00 p.m. to 4:30 p.m. but my story took care of my hours but it is not about my holiday but the team members i work with, having a thanksgiving they condition psychiatry with their family. >>neil: but you are not working and a last them are, are they a little angry or jealous of you? >>guest: no, no, no, i have gotten a last support from my team members all the way up to the store management, the conversations i have had have been very positive and interactions with guests have been great. >>neil: now, we hear this all the team, yours is a business where it is all about sales and money, and at the love retailers are hurting for money and people are predisposed to shop on black friday and 44 percent of people will be inclined to shot between midnight and 5:00 a.m. and that sounds incredible to me
but i take it at face value and this is the nature of the retail beast and you just is to suck it up and realize that is what it is and if don't want to work for those days work for the government. what do you say? >>guest: well, i say a target has a unique opportunity to seize the moral high ground. i have a last faith in target to do the right thing here. there is a majority of people who do not want to shop based on your stat so by pushing it back to 5:00 am they could say, we heard our customs, we heard our team members. >>neil: but those customers will go to walmart, so you have a moral high ground, maybe, but we have an obligation to look at the survival of our employees and the asked and the happiness of our shoppers who obviously are of a mind to shop. >>guest: i think the amount of
shoppers that will open up by pushing back to black friday open will vastly outweigh any shoppers we last to other retailers and it will put the pressure on the retailers to do the right thing as well. >>neil: i think next year they will be open all day thanksgiving, everyone will be open. that is the direction of the world. >>guest: well, you kow, my hat goes off to people would work thanksgiving, police, firefighters, folks in the media, and it's, if we join them, i will be in good company. >>neil: it will be a lot company. thank you, anthony. and now a major hit as a toxic filled probes is weeks appear from taking a dive to earth, and that would be a kicker to happen on thanksgiving, it would give the whole thanksgiving thing a moot point. these are the guys we are pitching a ride with? the last man says we are jumping in the clown car! congratulations.
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>>guest: you know as well as i do we have abdicated our role in space controlling our destiny and there failures that will occur up there and we are living up this in a misit will environment and one of the big differences is we spend more tim, more money, and we build a lot more redundancy in our systems whether they are unmanned or manned, or whatever, and we have in control of that. >>neil: so, if it were in the russians, beggars cannot be choosers, to we were not hooking up with the russians who could or should we hookup with? >>guest: well, i don't the chinese want to give us a ride but you can look forward to the next decade and it isn't beginning to be us back on the moon, the chinese will be on their way by then, and there is not a lot of shopping to do, there is number, we cannot put an american in space on american
piece of hardware and we most electrically will not be able to do that until the end of the decade. we wrestled leadership from the soviet union 50 years ago and today we have turned around and given it back. >>neil: you mention 50 years ago and 48 years ago today john f. kennedy was assassinate asked he is famous for wanting to listen a man on the moon before the 60's were out, what do thing he would say today about our predicament? >>guest: well, we will never know whether he was a visionary a dreamer or a politically astute. >>neil: probably all of the above. this is not what his vision was. if you read what he said to congress, if you read the speech, and his sames as he delivered it at rice university, why does rice play texas? he would be rolling over in his
brave. this president himself, i really believe, was astute and he did want us to go to the noon and beyond and he would do the other things is what he said, we not only have not done the other things but given up everything we have done. >>neil: the argument then was a national security threat and a drive to be the best and now this doesn't seem to be that same sense of urgency, right? >> well, i disagree. when america wakes up and it may take a couple more years, we had a debt crisis and employment crisis, when they wake up and find out what we can't do with space and what other people are doing, because what we don't do today will be done by others, the american pride and for americans it is not good enough to be good or second best that is our culture, this will turn
around, we will have to fort all over because it will take too many years to re-create our capability. it is very disturbing. we have made our case, a couple of prominent colleagues have made our case to congress and the congress understands but the white house inertia is so tremendous it is difficult to turn around. >>neil: you are a genuine article and a genuine hero. thank you, my friend. >>guest: have a happy turkey day. >>neil: california and south korea, we spray, you decide. i'd like one of those desserts and some coffee. sure. cake or pie? pie. apple or cherry? cherry. oil or cream? oil or cream? cream.
an accident doesn't have to slow you down. with better car replacement, available only with berty mutual auto insurance, if your car is totaled, we give you the money for a ca one model year newer. to learn more, visit us today. responsibility. what's your policy? >> neil: say it, don't spray it. reminder to those who disagree to those who find disagreeable. hear them, don't gas them. every time you do, you see the advantage to them. whether it's california university police officers,
pepper spraying sitting protesters last week. or south korean opposition leader getting off a tear gas canister in parliament to stop a ruling party vote this morning. in either case, a lost case, more like a nut case. those who protest with weapons end up giving the folks they're targeting a powerful weapon. namely, the weapon of sympathy in the eyes of the viewers who are shocked. viewers who wonder whatever protesters are saying is it worth shutting them up with pepper spray while they are peacefully sitting or whatever problems there are with the south korean trade deal with the u.s. is it really worth tear gassing the guy who simply wants to vote on it? i think you lose an argument when you force an argument, or forcibly try to remove those arguing. it wins attention to a cause that would otherwise be ignored and make the ones spraying and gassing the culprit in a battle of ideas that would otherwise be to
their advantage. it is one thing when protests turn violent. that, the world concedes. it's quite another when things do not, you respond with violence because that the world can see, too. i tell you, they remember that a lot more. all right. now that the super committee is history, there is a push to vote on the president's first debt commission plan. the co-chairman of that commission is speaking out for the first time since hearing a number of senatorring saying we ought to vote on this. don't miss this colorful character. the man that said we have to stop feeding at the trough. alan simpson, our guest on the fox business network. if you don't get it -- >> get it started. >> we're stuck on this horrible planet with an evil man that is making demands over and over again. we don't