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tv   Cavuto  FOX Business  January 16, 2014 8:00pm-9:01pm EST

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keeps the party going. but my airline miles take it worldwide. [ male announcer ] it shouldn't be this hard. with creditcards.com, it's easy to search hundreds of cards and apply online. creditcards.com. ♪ neil: okay. here is why i make such a big deal of politicians to push for more dope. b : the total reserves, more than three and a trillion dollars. that is the third. and china ounces. which means china kind of loans us because that is a lot of chips. and for us, the latest proof
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that we are in deep, deep chip. a practice that a few times. welcome, everybody. i'm neil cavuto, and that is what happens. everything used to stand guard as right out the window, like respect. remember when least to be a beacon for investors in our unfettered markets and economy? tried 12 the latest global survey done countries like estonia, estonia. countries that learn from us arnel mopping the financial flow with us. and none more so than sign a, which has learned that the fastest way to rule the world is the first control the financial spigots of the world, and although they desperately need cash to pay their bills, by the way, that would be us, and that would be sad because the only thing worse than channeling a record amount of our debt is our doing nothing to rein in net debt. we make ourselves weaker in china stronger. amazing.
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without firing a shot we are already shot gun and does in this military guy no. he with me now, former deputy undersecretary of defense. my big concern is the more we know the worse it looks and for china the better it looks. what do you think? >> you're absolutely right. we have gone so far, just barely a year ago we had republin presidents to get it saying that the test for whether we should go ahead with the federal program is whether it is worth borrowing money from china to fund it. i just don't understand how the thinking goes here in washington any more. money, as you know far better than i, as a weapon. it is just like to shift, rifle, a tank. the basic point here is, when china decides, if they decide to take a hit on their own economy in order to sink hours, what is going to happen, we're going to be in, as you said to my very deep shade 56i can say that. you are far too respected to even try.
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>> i took your risk. neil: here is my worry the mother we are not worried. we just sort of have this smug attitude and say, well, you know, it should be told china needs as if not for as much as we need them. there might be some truth to that committee would be self-destructive for them to take punitive measures against this, that is a lot of money that they control, that is a lot of money we owe to them. is that a good position to be in. >> it is a terrible position to be in. and you're looking at what china is doing, building of the military, for heaven's sake a gun several years now testing entire satellite weapons. they can threaten our satellites who will be flying blind literally and figuratively. if you look at what is going on, they tested a hypersonic missile the other day. montand missile inside the atmosphere which is really hard to do fifth. they're saying is is for scientific purposes. well, really? we are really in a cold war with china right now.
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neil: here's the thing, this is linda on the moon. they're spending like drunken sailors year. so we think it is not just for, you know, a technological sort of discovery. >> no, when you looked at what is going on with the design of their armed services, design of their armed forces these days, it is intended to prevent us from intervening in their ambitions. they're coming up with weapons to prevent us from running an aircraft carrier in close, from doing anything from a satellite weapons, this whole variety of things they're doing, and they're doing it with us in mind. it is not an accident. there is a cold war going on. i wish someone had against talk about it other than you and me. neil: well, i am going to try to take -- think of words that rhyme with other famous curse words. in the meantime, secretary, is a pleasure. >> my pleasure. neil: by the way, don't even get this former ceo started on what
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a financial mess with light. former mcdonnell ceo says of the spending gluttony is eating a steadily financial grave, and yet we continue to practice pouring good money after bad and actually see politicians and the ones on this very show when i dare ask them about accounting for the moneys already spent. what do you think? >> i think your analysis and the secretaries analysis i just absolutely spot on. this is a national defence issue in some many ways. when i look at it we are importing, importing, importing. china is coming here and buying of food supply. they just bought smithfield foods, the largest producer. they understand exactly what is going on. i made it two week trip to china recently, the shanghai district. one of the party chairman said to me than the politicians in the united states have substituted fairness for good judgment. our culture is douses of years old, and we will win. boy, that is a pretty tough, to
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throw down in front of us. neil: there is another side to this that maybe we're making too big of a do over. china is not half what they're cracked up to be. they're falling on their own reputation that is not warranted , and there in deep trouble, so we should all come down. the flip side is that they are in deep trouble and all this debt. we could be in deep trouble. whether your boss? >> absolutely. if you go over their like a what is goiig on, they're building new highways, rail lines, airports, infrastructure. that is a society on the move. they're using our dollars to do it. you heard the secretary talk about what they're doing with their military. that is an employment per room for them. they're target is clearly the western united states in particular. that drain on our capital is causing small businesses to montagnards, people to give up. you cannot borrow money coming expansion of innovation
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what is the positive year. aren't they still saying they believe that we will pay back? where they have no other place step but the money. is in the biggest threat that they can swap out of u.s. debt for another country? you know --
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neil: very young and very naive. i'm kidding. >> i feel it necessary to point out, another thing that china buying a car that does which keeps our interest-rate low. from a consumer standpoint there's a lot of fear that with the fed getting a of a stimulus and bond buying program who will see interest rates spiked. china is keeping our interest rates low. neil: i am arguing is a very, very dangerous prop. >> it is extremely dangerous, and the words -- the two words that stuck out to me, cold war, was thinking about that as i was coming to your show, we are in a cold war with china and it is having an effect on our market, creating a lot of uncertainty. neil: you didn't see it last year in the market. >> maybe the market would have been higher which is the point. if the market was up 30 percent with that china it may have been up 40%. no, i am not -- i don't really think so. i think there is tremendous
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uncertainty. ticket what is going on in nonmilitary. every time you turn on the cbc secretary kerrey talking about the middle east, the meantime, china has these islands with japan. we have a peace treaty with japan, and we cannot do a thing about it. that is a mess of uncertainty. neil: you don't think if things got ugly -- >> how can we without spending a tremendous amount of more money which is where the uncertainty. where will we get the money from? neil: we will print it. >> exactly right. that is why senate could if they want to put as out of business, but the other thing, let me just give you an example. if somebody found zero months of gold in your backyard and told you could money at $2,000 an ounce which you go near it? no. china is mining is much gold as they can add $2,000 an ounce.
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why? they want to completely control the market. they want to replace our dollart seeing right now essentially. violent -- we should be concerned. >> long-term china and japan, what is their priority and a daily basis, to continue to devalue there currencies because they are trade can export nations. how did they do that best combine our debt. >> they're revaluing their currency. the problem with china right now is they're probably one of the strongest currencies in the world. what they're trying to do, i'm sorry, is there trying to create consumer society. neil: bottom line, you are worried. buying a south. >> right. neil: you, senator, are saying that we are making much ado about nothing. >> and not saying that all. it is shocking and we can get ourselves out of this. neil: you will agree that we have to do something. >> everyone says there is the
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big threat that china could dump all of this debt and it would be -- they're not going to do it. it would hurt them more than us. >> that is not the problem of the issue. they have the threat to do it. that would hurt as much more than them. if we did something to try and protect japan china would say, go ahead, go for it. we're taking of as islands. that is uncertainty. neil:-year in crazy land. and i love you. neil: semi crazy? neil: and no one to argue. but it is out there, it is a worry, and we do of the chinese a lot of money. meanwhile, free weather quiz christie's presidential prospects have stalled. the traffic jam, the republicans apparently interested in going over the same race. next on the grand old party waits for 2016. not so much for who will be running, but you will be running. we keep going. ♪
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neil: fore get whether chris
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christie is damaged goods or n not. don't look now, no fewer than 32 republicans, 32, could be trying out the 2016 waters that like italy. i know a guy named giuliani, rudy giuliani, on whether he joins, why not? >> maybe the ones in italy. neil: what the heck, what is going on. >> it's a open seat. right? ooen pretty much open field, there is no on the republican side no hillary clinton. >clinton. neil: yeah. not a sure bet. >> but it appears to be. if jeb bush were to say i'm running he could clear the field somewhat. he is not quite hillary clinton to republicans but close,.
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neil: do you know something i don't. do you think he would? >> do i think he is running? i don't know that would change the dynamics. chris christie -- >> you have been very staunch in your defense. >> i detect a great deal of politics more than substance, considering amount of time spent on that and irs scandal, and benghazi. and report yesterday and today on benghazi is devastating to hillary clinton, on her watch, people died that should not have died if she was a better secretary of state, simple as that. she got the warnings, they went on for 6 months, i don't think that senate report comes close to giving you half the warnings she got, they took no action they had a political objective that was more important. now under scoring facts that politics is more important to
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hill reahillary. in christie's case, these people did something stupid. neil: you tax him at his word he did not' anything about it. >> you have to, nobody is prove. the denial he gave, has advantage of i think of making it credible and showing a leader he is, if not true then he is in trouble. neil: what do you make of fact that a lot of folks want in on this race? because they don't think it is a -- race, they think whether christie is in krupp else or no -- trouble or not that think it is fielder's choice, and taking their queues from '92 when pill clinton ran, someone will win, that they figure like folks who buy lottery tickets, it might as well be them. >> there are too many possibilities nobody at 25% range. neil: what about you you? are a
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household name. >> i have not said i'll be a candidate. neil: would you be interested. >> right now, i am not, i am thinking about a lot of other things, i like a couple of the candidates a lot, chris one of them. neil: i think mayor, that it is about who among those who attract donors, those who want to raise money, i know very early, but, any early signs that those who are financially inclined to walk to chris christie are at least pausing, they say, we want to see how this plays out? >> i think that chris probably has the biggest -- if jeb enters then a lot of bush organization for george. a big group to him, but put jeb aside. of the group in the file, the guy with most fundraising prow ses chris christie, and he has those people begging him to run
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for president last time. chris has -- >> ken lango. >> absolutely. >> ken is like a bromance thing going on there. >> forget that, he is one hell of a fundraiser. neil: he is, rudy giuliani good to see see you ape new year. >> thank you. neil: something they want something they are demanding, and something they are both making a lot of noise over if they don't start getting it so soon. than the rearch this man has at his disposal is how he puts it to work for his clients. morning. morning. thanks foreeting so early. co on in. [ male annncer ] it's how edward jones makes sense of investing. open to innovation.
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neil: marriott has a problem, beautiful resorts but not enough people to wwrk at those resorts, unless they do something, the resort, and customers might feel the pinch, at&t ceo is saying %-foreign tech troops, they are more than two of more than 200 ceos pushing for immigration reform. democrats are begging for extent the uni unemployment. we want to bring in illegal aliens to take jobs from americans, if they can get 99 weeks of free money ttey will take it. this does not help the situation, this is not help the
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economy it is wrong, stilling well. >> fascinating, i don't think that anybody has focused before on how immigrants and the ceos actually are on the same page on this. ceos looking at bringing more people in high-tech. that troubles me a bit, i wish they are more focused on trains americans to do their job. neil: that is not their job. maybe government a job to do that. other interesting -- marriott, they want more lower level workers, i actually kind of agree with dee-dee, you wonder why they can't find these people already here. >> and they are not looking to under pay the workers. to your point, if they don't get
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it, that is their immigration reform that looks like then what? >> well, you know this and i think that the unemployment gravy train needs to go away in the beginning unemployment was short-term, i cannot believe people cannot go out in a month or two and find a job. >> that is not an immigration issue. >> it is, people are sitting at home, they are not finding jobs it is too easy. neil: cheatos? >> yes. >> chea.>> people really need ao feed their family, get out there and do what they need to do, jobs would there be, they go to work. neil: not a crazy connection. >> a little bit of a crazy connection. >> well. >> people -- >> well, you say, you take the unemployment benefits away.
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>> that only works if you accept all these people want to be working. >> let's go 50% that would take care a lot of jobs. neil: we're not getting it this year. >> that the problem, all sides want it, ultra coff ultraconsere not going to allow this to happen, boehner has a secret plan 92 he wanted to legalize smokers. >> how about vapor? >> i agree. neil: some problem that keep foreign investors at bay, adding our problem from up north, a guy named black said our future could look dark. it's not the "i only earn decent rewards at the gas station" card. it's the no-games, no-signing up, everyday-rewarding, kung-fu-fighting, silver-lightning-in-a-bottle, bringing-home-the-bacon cash back card.
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is your tv powered by coal? natural gas? nuclear? or renewables like solar... and wind? let's find out. this is where america's electricity comes from. a diversity of energy sources helps ensure the electricity we need is reliable. take the energy quiz. energy lives here. neil: sure it is a list, and we look awful on that list, it is just a stupid list, ranky countries by their economic freedom and how easy it is to do
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business with their country does not make us look attractive, u.s. has fallen to 12, many say, calm down we're still the largest and most liquid market conrad black said not there, said dismissing u.s. officials, might risk looking cocky at their own risk. joining me now from canada. country that is 6 on that list. conrad, what do you make of this? >> well, i have seen the list, and happy new year. i enjoyed listening to your previous guest, my view, there are a lot of problems. but i always emphasis that u.s. is fundamentally trechusually rich country with a patriotic population of talented workforce. neil: we're spending ourselves into a hole. >> there has been a
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deterioration, without doubt, serious. but not irreversible. and it is not permanent. you just need leadership, you are not getting it. but you have been -- i don't want too sit up here and canada and lob condescending remarks to the greatest country in the world. neil: i could do that from my seat. >> i don't top do things that are redunn da redundant, what fe in horrible year of 1968, many viewers remember, you know with assassination of martin luther king and robber kennedy, 550,00 draftees in vietnam in a war that no one understood, riots everywhere, race riots and antiwar riots, at one time, rockefeller, and nixon and
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reagan were running for president, they weral qualified. i do not think you are getting your best candidates that is worrisome. neil: an excellent point, field of hitters does not allow folks, but, i could say you don't know until you see later, very few could from seen abraham lincoln a good president. is there someone we're missing? is the country and controversy that ensues, in anyone that runs for office, and media focuses on, be it a traffic tie up in jersey, it takes the good people out. >> in fairness, calling it a traffic tie up in new jersey is kind of peddling. people close to the governor, punish a mayor of a town in the state, in that way, it is -- it is an abuse of office.
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neil: is it any different than know ti-- intimidates people byr political leanings, i say part of the same pattern that might be chasing others away from nittal office because of scrutiny, rightly or wrongly gets. >> i agree. i think you are right, you arery to put it in same category as misuse of irs, which, many of presidents have engaged in both parties. but, i think that concern here circumstance i think it -- is, it goes back to watergate. great 900-pound gorilla in the room of for modern american tims there was no excuse for chasing out of office and destroying an administration that had been so successful. i refer a few minutes ago to terrible year of 1968, nixon was elected, 4 years later out of vietnam, a noncommunist
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government in see began open relation with china, signed greatest arms control agreement in history with russians ended the draft, elimited what was left of school segregation. and founded the epa, nixon was a great president, that is why he was reelected. he was destroyed, and not for delimlegitimate reasons, i thint the fact that the people who did this have done nothing but shower themselves with congratulations up to now, in particular woodward and bernstein, and the public, large part of the public. they know that the country was misled, and disserved. and i think that it is with really warped the traditional transcountry nonpartisan,
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bipartisan, multipartisan confidence in the system. neil: we can disagree a little bit on richard nixon thing. i accept the great things he did but i cannot ignore -- >> it was tawdry to be thrown out of office. neil: about this whole process has dissuaded a lot of people that otherwise might and should run, from running. in new york city, no one wanted to run for mayor. >> and you had distinguished mayors for many years, you had one on a few minutes ago find mayor, and bloomberg, and koch. no one of that statute was up for office this year. at least the voters had pleasure of rejectining spitzer and weinr anyway. neil: always looking at half full glass, i appreciate it conrad black, thank you so very much. >> thank you, citizen cavuto.
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neil: that is all i am. i tear and you tweet. rest assured, i lost it a long time ago, i have a former u.s. controller to confirm it. so ally bank really s no hidden fees on savings accounts? that's right, no hidd fees. it's just that i'm worried about, you know, "hidden things." ok, why's that? well uhhh... surprise!!! um... well, it's true. at ally there are no hiddefees. not one. that's nice. no hidden fees, no worries. ally bank. your money needs an ally. open to innovation. open to ambition. open to boldids. that's why n york has a new plan --
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neil: to hear some of you on my constant government spending rants, either i'mo to something or on something, one tweet, keep after them neil, this is the info i've been waiting to hear for years, we have your back. another good job, keep talking, you are on spot, one more. time to put spending growth beast in hibernation. to david walker, might clean it up but not water it down, filed to run for lieutenant governor
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of the fine state of connecticut, mr. walker, good to have you. >> good to be back. neil: you know, you are i am a little bit more dramatic and maybe italian in fearing it but we have dug ourselves a deep hole, i'm not sure we can dig out there total spending, direct spending and tax preferences we're about 5 trillion a year could in addition with regard to direction spending and tax extenexpendtures, a vast majoris on autopilot, the deficits have come down about half, in but we have not addressed 3 things to address to put our finances in order, social insurance program, not rationalized health care promises and done more to control costs and not comprehensive tax reform that includes -- >> every time anybody gets brave
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and says obvious, they are crucified. you might discover this in your run for lieutenant governor, in knuckle head will run out or david walker also politics are don't understand that american people are a lot smarter than they realize. they know we're in trouble. they can handle the truth. they are willing to accept tough choices if they are part of a comprehensive plan they deem to be fair. and that is what i'm going to do, believe it or not connecticut is ground zero of fiscal irresponsibility and uncompetitiveness in america, it is at or near the bottom in virtually every category. if we can turn this state, it will be heard around the crownry, and then - and -- coune washington, d.c. neil: if you can put out that tough love and not get rip
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apart for it that is a good sign. >> thank you. neil: this is under category. if it sounds too good to be true it probably is. somebody talking sugarless gummy beer-- bears has abeasy an easye weight, you are going to lose something else, after this. >> thank you.
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neil: what are we now about two weeks into the new year. how is that diet resolution going? for you folks have been downing ing sugarless gummy bears on the
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internet as a quick fix. they do quite a number on your tummy, saying not long after eating about 20 of these, all hell broke loose, like nothing i ever imagined. >> i had about a quarter of a bag, seens from movie 2012 could have been filmedned my gust, and crystal, said her story ended with, and i was never asked to send snacks to my daughter's class again.yikes. dr. mike siegel. and chef -- what is going on. >> last time i made a joke about you needing something for weight loss, you threw me off of the fox business network.
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this is not funny though, gummy bears use so sorbatol. it is a axative there are other forms of sugar free you could lose. neil: maybe that is what makes you lose the weight. >> but you can't regulate it. it is anes on motte iraqtive -- it pulls water into your colon, you could have a heart attack from this. you could become dehydrated. you could -- >> wait a minute! you are saying gummy bears could cause a heart attack. >> they could cause your heart to stop if a it a truckload like some were saying, there were worse ones. neil: we cleaned it up. >> with sugarless gum you have one stick at a time with these. neil: they were eating this whole jar. >> a medical risk that could
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cause potty as -- pott act norm. >> this is, public see you don't want right? >> i think that publicity is pretty good for a negative review, people read on-line reviews, and consumers, enjoy reading them, they enjoy them and trust them twice as much as regular advertising. neil: wait, does that mean they would be more inclined to have -- reaction it turns out a lot of them were losing weight for whatever reason. >> that is the point. these reviews, to this product, negative in as they may sound, this is 1 out of five-stars, i would have loved for you to read the rest of that review. not such much a negative review as a comedy monologue perhaps a writer in late night tv show wrote this.
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it is entertaining, i think that what happens people read this they say this is funny, then one that said, i took gummy bears to office party because, i wanted to get even with my boss. and i think what is going on there? neil: it does give me a number of ideas i dropped a whole jar off to bill o'reilly. >> there you go, the way to lose weight not end up on will toilet for hours, if you had a couple of them it is better than a handful of sugar ones but not a lot. neil: show caution. >> they are ac addictive though. >> they are. >> so is mcdonald's. neil: i guess you have to -- attention has gotten more than. you could make the argument that people will 7 out these products
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as much as those who might not want to search out. >> you have kids eating this, young people, and want to lose weight, they say i'll pop a bag of gummy bears, you can go to the store, get it, like a diet pill, you get sugar feeling because of the taste. but you get -- i think you were just, said in the end, well, that is what happens in the end, we can't talk about that. >> neil, healthier artificial sweetens we can use. like stifuse. >> do you think it reads like you could do reviews of healthcare law with this. you kn you could really just replace the -- i guess not. >> you see obamacare will cause weight loss. neil: and you will be tied up in gummy bears. >> there is a disclaimer on the bag.
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neil: there you go. >> it says cannot eat too many. >> and you will be running. >> >> like anything. nothing in excess. neil: i understand. you think for ha we pay for starbucks coffee we could be spared starbucks finds. but, have a got a java jolt for you. [ male annocer ] this is the story of the little room over the pizza place on chestnut street the modest first floor bedroom in tallinn, estonia and the southbound bus barreli down i-95. ♪ this magic moment it is the story of where every great idea begins. and of those who believed ey had thpower to do more. dell is honored to be part of some of the world's great stories. that began much the same way ours did in a little dorm room -- 2713. ♪ this magic moment ♪
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neil: target, neiman marcus now starbuck, news they could be brewing up security breaches of its own, its payment app might be compromised and could enable some customers info to be hacked, they say this is fixed but what is ever a caffeinated trend. security breaches again. >> i think this is tip of the iceberg. with data breach, starbucks, and target are different. you had the instore credit card
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breach, with starbucks they were -- not lazy, but maybe, about not incrypting the password you put in if you want to make this payment app, just plug your phone number they get all that information, a big problem is our credit card technology in this company outdated, it needs to upgraded that will cost billions. neil: i wondered about this, almost too easy to get your coffee or whatever, it lookso seizey it is evil -- anything that looks so easy is evil. >> i think that this is just going to be a minor hiccup. i don't think that anybody is really going to hear about it, this is different from target and neiman marcus, and in terms of starbucks, i am more afraid to buy the stock trading at these valuations than to go in buy my greenleaf latte today.
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neil: i'm afraid to spend $5 for anything. i don't know if ebay is getting hacked, but i know ebay -- to what is going on right now, nothing further than before, sitting up what would issue first on-line mall for all sorts of retail goods. >> i think this is a great idea, right now amazon cornering the market on e-commerce sites. so why not put, bay in there. and they can probably adrag bigger name retailers than they are, and increase present on m mobile platforms. neil: would this make you like ebay more or less. >> i would not like, bay any more than i do not like it right now, opportunity with internet stocks, neil and you know technology, and general is really in bold transfer national type of change, amazon talking about drones, and google buying
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nest, these guys talking about regranding ebay stores to -- rebrands ebay stores to ebay plaza, this stock has been a underperformer i think it will continue. neil: i wond irto wonder too, ds blur the brand, a lot of people get something they want on auction off. >> it is competitive, they have to do something or get headlines on this. trying to find right products, maybe this will streamline it making easier consumer ex -- experience, but i don't know if will move the needle in terms of the value of the company. >> you know, we were looking at security issues for a lot of these guys ebay had its brushes with this. but do you have a separate list of those who are -- vulnerable those who are not those who are words of stocks buying those because of this are not?
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>> >> this whole thing with security breach is not going into our value process, there is a big trons formation in u.s. that everyone is switches to plastic when is the last time you wrote a check. neil: all right, lori unite cap time, what are you thinking of tonight. >> housing starts for month of december will be released. today we had homebuilder sentiment. took a bit of a hit but we're at multiyear highs, rates have been rising there has been softness in mortgage demand, we'll see market is key for our pledge eling economy. -- pledg fledgling economy. >> for me watching earnings. we have ge reporting in morning i see as most important to get a
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good indication of what market feeling how that responding to earnings, you see a transition from p/e expandtion that happened last year to now show me the money, if you are a stock like new skin or best buy, you come out today and report the earnings they will rip your face-off in the market, i will watch earning season how market responds right now, if you are meeting expectations at least, they are treating it kindly, will be optimism about the market but i will watch earnings reports tomorrow. neil: and a couple weeks into this. and it is a flat market. >> a lot of tug-of-war, i think a lot of folks, are considering earnings and morgan stanley to add today, and with new skin, china questioning the business practice of that stock. neil: a lot going on with that. like the pot calls the cet old kettle on that one. >> right. >> after last year how could you repeat 30%. >> do you agree modest return
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year in. >> i i think for indexing it is not type to buy s&p 500 there is a lot of opportunity in market. neil: okay. >> welcome to the new and improved barrett-jackson collector car auction from west worldn scottsdale, arizona. thas for joining us here on fox business. we hope you were enjoying our coverage on fox sports 2. two more live hours coming yur way from the new permanent home of the world's greatest collector our car event, now in its 43rd year. hi, everybody. i'm bob barsha. time to get into some really interesting investment vehicles! collector cars at the high end have been outspacing the stock market for the

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