tv Cavuto on Business FOX News September 10, 2016 7:30am-8:01am PDT
samsung are bursting into flames. hillary clinton, wished she had one of these. everybody is smart, buying these fire extinguishers from united technology in one year. everybody else going apple. >> neil, save me, now. >> in the event donald wins i have no doubt in my mind the market tanks. >> that's billionaire mark cuban telling me if the other billionaire running for president wins you lose, investors lose. is he right or wrong? hi, everyone. glad to be back on the cavuto. ben, charlie, along with kennedy, like madonna, just kennedy, and adam was debating, sticking with adam, dagen, doing her great job hosting "bulls and bears." first off want to thank charles and elizabeth and stuart and david, for sitting in while i was away. they were remarkable.
particularly charles who i love dearly like a brother but the fact is you cannot call it payne on business. back to my show. charles -- that's what he's saying, stocks will tank. >> first of all, it's a dangerous thing, gaming the market based on who wins the white house because face it, a lot of people watching this show missed one of the greatest rallies in history because barack obama was elected. having said that, i think cuban is worried about the trade rhetoric. >> why are you blaming this show for that? >> i'm not blaming the show. a lot of people who -- >> saying they were watching this show and missed something. >> they watch our show because they want information about the financial markets but didn't take it because barack obama was president. >> i. >> and said as long as this guy is in, i'm not buying it. in fact, i'm selling at a huge loss. guess what they missed one of the best rallies in history. where cuban is coming from, is if -- >> he's a big hillary. >> we know but i think some people on wall street and
charlie talked about this are concerned about a potential trade war. we want lower taxes. we want fewer regulations. we want obama care ditched. those are the three main things if you argue -- >> not everybody. >> if you're in the market i don't see why you would not want that. long stocks why wouldn't you want higher corporate profits. >> i don't think that mark cuban is any sort of a taro card reader. i would not pay him $10 to read my palm. this is political expediency. >> what's ten bucks to you. >> so much more than it is to mark cuban. $10 billion to mark cuban. but i have to say, he's politically and personally motivated him like a mini hipster bloomberg. not a mini bloomberg because that would be like [ inaudible ] god rest his soul but what i'm saying he's a know it al, a blab error. >> but on the uncertainty part. >> he thinks he knows better than donald trump and he's mad he's not running. >> i think you talk about donald trump as tyrannicle billionaires. >> i don't think so. if you know anything about cuban
he's not. but here's -- let's get back to the central point which is whether the market -- >> you two still don't get along. >> we love each other so much it's crazy. >> let's tard to sit and call him a tyrannicle billionaire when talking about trump. the markets will trade off if donald trump gets elected. the question is do you buy them after they trade off. here's why. if you think donald trump is giving you rhetoric about trade never going near that trade war and all that stupid stuff about nafta, hard to do because of congress involved here, you buy the market because the most progrowth agenda out there right now is donald trump's. no doubt. not even close. hillary wants to complicate the tax system by like a gazillion percent. absurd what she wants to do with the economy. i look at it, i want the markets to implode when donald trump becomes president, i want congress to stop him from doing anything stupid with trade and buy stocks. >> i go back to where starls started this, people overestimate the impact of all sortings of things on the --
sorts of things on the market. we see this when there's an airplane crash or natural disaster and stocks trade down but they tend to come back to where they were. if the market expects hillary clinton to be elected and they wake up and find out that donald trump is going to be president, the markets may well crash in a day. i didn't hear the time frame that he was talking about. but i don't think that should be something that investors, you know, real investors, should be concerned about. >> ben stein, we always play this politics game and the impact on the markets. is there much of one? >> well, we just don't know what the impact is going to be. we don't know if mark cuban can predict the market. 99.99% of the time individuals cannot predict the market so it's just -- the idea that this gentleman, rich as he is, smart as he is, charming as he is, can predict the market is nonsense. we don't know weight going to happen in the -- what's going to happen in the long or short run. he cannot predict the market. >> but ben, i think we can speculate -- we can speculate i
think on things that will shock the market and as i said, if people are surprised on the day after election day that donald trump is going to be their president, that we can i think reasonably predict would be a short-term shock. >> look at what happened. >> wouldn't we be prepared for that. doesn't mean it's true. >> the likelihood of that happening -- >> doesn't mean it's true. >> likelihood of that having a long-term impact is the same as amy schumer moving to spain. and samuel l. jackson moving to south africa and miley moving to canada. none will have long-term impact. the thing that might have an impact on the market is whether or not donald trump is consistent with his talk about the fed propping up a false economy. and the link between the fed and keeping interest rates politically motivated interest rates low and having some effect on that because if, in fact, he is able to influence that and
that does have an effect on the market then that may be -- >> is that not -- >> that's not what mark cuban is talking about. >> that is sure ratings disaster when you veered into this. >> i don't think the fed -- >> i'm the fed, neil. >> when it looked like hillary clinton is going to get intitled by james comey the market went down. you follow the dow. going down when he was calling her these names. >> short term. >> now here's where the long-term problematic thing is. by the way, short term, sometimes lasts a year so you know. that's not short term when losing money. it's not the fed. it is trade. if he really does go ahead with the trade war these markets will crash. that will be the problem. >> the market i guess what i was trying to get at -- >> why would they crash? why would they crash? trade is not that gigantic thing -- >> economic -- >> but it wouldn't make it crash. >> you know that a trade war is not good. >> trade is a giant thing. trade in the u.s. economy is not a giant factor. it's not like the british or japanese economy.
>> with all due respect, dr. stein, you are conflating the u.s. economy with stocks and i know there's some confluence between the two, but it's apple can't trade freely companies cannot trade freely those shares will go down. >> charlie is right. >> the growth -- >> whoa whoa whoa. >> did i hear that right? >> that's not the first time, neil. every now and then -- >> can i ask, what if it looks as if the polls are now narrowing and let's say six weeks from now, it shows trump leading, in other words the markets are more prepared for that possibility, whether you like trump or not, wouldn't the element of surprise be out of it? >> that removes the shock factor that adam think about the brexit thing back and forth going into that actual vote looked like stay was going to win. when it didn't win the markets were shocked, took a tumble and anybody who bought that dip made money. i happen to agree with charlie also. the profits for the s&p 500 which is a year and a half ago hit an all-time high are driven
by the ability of whirl pool to sell washing machines in argentina, harley-davidson to sell motorcycles in chinand if that's interested the market could get hit hard. >> young people then would be reminded yet again, in the fall, a habit to this sort of thing, that the markets are not to be trusted and just as some of them, not all, are dipping their toe back in the water, they are going to take it out that's a long-term negative. >> talking about young people and perhaps some of them taking a more simplistic view they would see that donald trump has money, he likes money, therefore, the markets are all about making more money, so maybe there are more amateur investors that would get into the marketplace. >> what do you think? >> the amateur investor is a trivial factor in the market. the market is moved by big traders. >> i know. >> the little millennial dip is not a big factor in the market. >> you young people. >> ben, you're right about that. the millennials are stupid and don't mean that much in terms of this market but --
>> wow, wow, wow. >> i think stupid is a little unnecessary. >> they are. >> and secondsly -- >> a lot of them are. >> a think called a demo we value. >> their atrivial. >> trivial not stupid. trivial. >> you're making my point these global players worry about trade and if donald trump goes through with all -- >> the trade -- >> and -- >> sir, it might affect -- >> corporate profits. corporate profits -- >> interesting few days or few months. enough for about eight minutes. do that. when we come back, $1.7 million, that's got everyone's attention. what has mine it was all in hard cash going to iran. they say cash is king but someone here says it's a way of hiding something. >> today on forbes on fox a dis on the tarmac. donald trump says china's snub to our president shows more proof the u.s. is losing status as a world leader.
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live from america's election headquarters in washington, good saturday morning to you. i'm eland victim -- leland vitter. t united nations condemning north korea's nuclear test the u.n. security council will consider taken action against the north korea's including new sanctions. the regime conducted its fifth test yesterday which some analysts say was more powerful than the atomic bomb dropped on hiroshima at the end of world war ii. new video coming into fox news of a tornado near sydney, illinois. forecasters confirming a total of four twisters touched down in that state and warning of thunderstorms throughout today and this weekend. emergency crews are assessing the damage there, but local reports say at least a couple of homes were destroyed. i'm leland vitter.
back to "cavuto on business." >> i am very concerned with the appearance of our government paying ransom for captured prisoners. >> who specifically made the decision to make this payment in cash? >> the deal would be immediate payment. >> there are other ways to make an immediate payment other than a middle of the night what appears to be a drug drop. >> they wanted the cash because they're trying to fund terror. >> they were the ones playing the music underneath that. welcome back, everyone. all this debate whether that $1.7 billion to iran was ransom. i have another question, why was it all cash? charlie, you know a thing or two about secret all cash transactions in the middle of the night. >> you pick on the italian guy when you want to pay off some
cash. >> i'll drag us both down. >> that gives you cover, right? >> it does. >> listen, i mean, you know, if you -- let's go back to the money laundering not quite an italian-american thing. if banks and governments can trace checks a lot easier than they can cash and that's clearly why they demanded cash. but the mafia used to pay people in cash. >> automatically suspicious when it's an all-cash transaction. >> and the timing is -- >> there's a reason. >> this report, we sent $40 billion in cash to iraq between 2003 and 2008. the kind of dealings we do around the world with cash and our governments are outrageous. >> and the only way it cap reach them. >> in this case we know it was paid to get the prisoners released and so interesting because to really try to make it look on the up and up, the dollars converted into different currencies. >> yeah. >> no one will follow us now. >> yeah. swiss francs, why not swiss army
knives. the curious thing is the free beacon is reporting it was perhaps $700 million a month between january 2014 and july 2015 that the u.s. government was paying iran while these negotiations were taking place. >> but these, the last of this, can you say this -- >> trauns. >> you're good, neil. >> thank you. but soon afterwards the hostages were released. >> the first $400 billion coincided with the transaction. >> within a matter of hours. >> two weeks the rest of the cash came in. >> that's ransom. >> there is no other word for it. because the release of the american prisoners was contingent upon that cash transactionship and the president, trying to give himself cover -- >> what's the other word? >> payoff. >> don't say leverage. >> paola. >> this is money that we owed them, money we agreed to pay. >> from decades ago and can't wait another year until a formal
banking relationship with iran. that's a flimsy excuse. >> as for the cash i don't think they were able to accept paypal. i think a joke out of it but this is the reason. >> the economy -- >> accept paypal. i looked into it. >> with the greatest, greatest respect to all my friends here, congress had passed a law forbidding payments to iran in dollars. there was a specific law there and, therefore, it had to be in foreign currencies. there was a flaunting of the law by the administration circumventing the law which this administration is the greatest expert in the world at. they thumb their nose at congress. over and over again. and they did it this time too. this president has more contempt for congress than ever been any -- by any president. >> who doesn't demand -- who would make that demand for the cash? are we making it or iran making it? >> it seems to reason
iranians -- >> iran says we want the money -- >> give us the hostages. >> we want the money, you get the hostages. and mr. obama says, someone in mr. obama's shop says there's a law forbidding paying them in dollars, round up swiss francs and our ross and pay them in that. a way of circumventing the congress. >> back to 1979 and all of a sudden, we had to pay them -- by the way, $1.3 billion, interest, if you go to a basic inflation calculator you can see we overpaid by $200 million to $300 million. amazing what happened with this deal. it stinks all over. >> if you can circumvent congress on the sort of general theme of this we're not supposed to pay them, why can't you mail them a check? >> you actually can. the president has authorized an emergency -- there is a fund that the president can tap into in order to because if the -- if the point that the state department is making is that the
president had to make this payment for critical funds needed in iran, there is a fund that the president can tap into into. if he can't, if we are ham strung by legislation wait until the legislation is changed or until this agreement -- >> about what at cash is something you can't follow? >> that's the point. >> the bottom line. >> you can -- >> one of you must have mentioned that. >> circumventing congress on everything else why can't you do it on this. >> the hague said it had to be done right now. >> i don't believe that tribunal nonsense. >> don't get me started on the hague tribunals. >> meanwhile, ground troops in iraq, hillary clinton says never again. donald trump says never tell your enemies the plan. who's right and wrong after this? >> trump's idea would be disastrous. >> hillary clinton thinks she's above the law. >> the first presidential debate on fox news channel. we are america's election headquarters.
if i win, i don't want to broadcast to the enemy what my plan is. let me tell you, if i like a combination of my plan or the general's plan or the general's plan, if i like their plan, matt, i'm not going to call you up and say, matt, we have a great plan. >> donald trump says just keep it a secret. shut up! that is no secret to you if you were watching donald trump talking to me years ago on this very same sentiment. >> when i watched dan rather explaining how we're going to be attacking, where we're going to attack, what routes we're taking, what kind of planes we're using, how to stop them, how to stop us, it's a little bit disconcerting. i have never seen this where newscasters are telling you, telling the enemy how we're going about it. we just found out this and that. it's ridiculous. either you attack or you don't attack. >> the problem, donald, is
you're watching dan rather. you should be watching fox. all right, so he says don't talk about it. meanwhile, hillary clinton is saying very much talk about it. she's ruling out any plan to send ground troops into iraq ever again. so then who's right? >> mr. trump is totally right. we did not see churchill telling hitler where we were going to land on the north coast of france. we don't see abraham lincoln telling robert e. lee where they're going to march during richmond. i mean, it's common place to keep these things secret. now, what mrs. clinton is doing is making fun of nixon's so-called secret plan which actually did end the war in vietnam, but she hated nixon and made chance of him every chance she could be. trump is totally right, we don't broadcast our strategy to our enemi enemies. >> trump is saying the one thing that is also out there is you don't want to, at this stage, rule anything out. a number of generals were saying
you don't want to embolden them, right? >> hillary should know about drawing lines in the sand from the president, right? so listen, i think the american public these days, the man to know the outline of what is going to happen, we don't need to know the secret sauce. because war is so public and we see it on our tv these days and social media, they kind of want to know a general understanding. that's it. >> yeah, i think donald is wrong. the american public need to know how you feel on this issue. no one needs to know exactly where we're invading. i don't remember the press reporting stuff that got our troops in trouble in any recent battle. certainly didn't occur during d-day, but it happened -- >> it could. >> but they refrain from it, generally. >> it reminds me, nancy pelosi saying we have to pass the aca to read what is in the bill. >> everything is a petty put-down to you. >> i have a de-stress of people saying, just trust me. he doesn't h bold specifics but has to have some sort of attack against hillary
because her saying we are never going to put ground troops on the ground again is a lie because we already have 6,000 there. >> adam, what do you make of that? >> we are talking politics more than policy here. the fact of the matter is -- >> i don't know about you veering into politics but -- >> well, trump is a complete unknown. everybody knows that on foreign policy. that's not a controversial statement. so the burden is on him right now to communicate, not to pretend like he has the plan and communicate it to the voters. >> okay, i don't know what you said but i agree. many the meantime, thank you. stocks to keep you safe. our guys have you all covered right after this. i'm val, the orange money retirement squirrel from voya. val from voya? yeah, val from voya. quick question, what are voya retirement squirrels doing in my house? we're putting away acorns. you know, to show the importance of saving for the future. so you're sort of like a spokes person? no, i'm more like a metaphor. okay, a spokes-metaphor.
>> gosh, you have learned a lot from me, adam. you're going to be a rich man, spy. >> there's another book there. the cost of freedom is now a day that is the place for business. to the rub after the snub. china does not roll out the customary red carpet staircase for the president forcing him to use the emergency exit. and donald trump doesn't waste a minute noticing it. >> you know, it's interesting with the president, because i saw that yesterday with the stairs. he went to asaudi aarerabia and top people didn't greet him. if that happened, he's there to pay respect to the country, not to him, but to pay respect to the country. i would say, thank you very much, close it up, boom, let's go back to washington. i would. >> so is trump right or wrong?