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tv   Lou Dobbs Tonight  FOX Business  March 24, 2014 7:00pm-8:01pm EDT

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in the business. i will see you tomorrow. ♪ ♪ enacted. >> good evening, everyone. the mystery of malaysia airlines flight 370 is closer to being solved tonight. the malaysian prime minister has made it clear to the families of the 239 passengers and crew aboard the boeing 777 that there is no longer any hope that their loved ones are alive. the prime minister claiming new data will be confirmed crashing somewhere in the indian ocean. >> this is a remote location. >> far from this, it is
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therefore in deep sadness that i must inform you and it ended indian ocean. >> the grief stricken relatives of the victim irate after they heard the news initially by text message. texting the families quote that malaysia airlines deeply regret that we have to assume beyond any reasonable job that this has been lost and that none of those on board survived. this along with visual
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confirmation of debris, some 1500 miles off the coast of australia near perth. the degree photographed independent of one another. along with this to the area to help search the ocean floor and to confirm that the debris found was part of malaysia .370. it could take months to recover in a wreck wreckage and determine what caused the disaster of the 777 diverting so far out of its initial course. russia has entered a new phase, seizing the last military base in crimea.
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leaving them to order the withdrawal of all remained armed forces on the peninsula. president obama himself arriving in europe this morning there to convene a g-7 meeting in the netherlands trying to make the case with the second round of u.s. sanctions that are taking a toll on russia's economy. >> we are united in imposing a cost onrush on the action so far. as it was right we pointed out yesterday, growing sanctions would bring mexican consequences to the economy and i would be meeting with it later today with the netherlands and our european partners as we go forward. lou: meeting with ukrainian counterpart and secretary of state john kerry. shrugging off any concerns about
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russia being removed from the g-8 referring to it as an informal club, the g-7 leaders announcing that they had a summit in june in russia. joining us now is george friedman, a geopolitical intelligence firm in austin, texas. and this has all the appearances from this distance, at least on the flailing of european states whether you subscribe them to a g-7 group or whether you look at them as nato. order your thoughts and your analysis? >> is going to stand back on the world and not get deeply
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involved. but in this case are going to talk about this with russia and the united states are looking for a cheap solution and things that are very risky rather than taking a firm hand in the situation. the sanctions that it imposed was absurd and can't have any consequence in the stock market and the fear that the united states is going to do something more substantial. but it probably is not. so it's not a bad word. lou: lou: assuming the leader of the free world, this is first and foremost a european problem. and a threat from vladimir putin. on the world are we not hearing more from angela merkel and the other european states, including the uk. >> one reason is energy.
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and it does from russia and they are afraid of the interruptions. but the real reason is that europe has invented this notion that they are unimportant and the only thing that really matters is the economy and they are simply not psychologically prepared for the levers of effort to cut into the defense budget and they are moving away from any notion of confrontation it was liberated in 1989 and it is terrifying from poland on the way to romania and beyond this around the periphery of russia. the concern about what is going to happen and they are not looking to the europeans for leadership but to the united states for leadership and we are not there. >> we are not there in your assessment. are we likely to be better? and in what direction with that
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finally be asserted, what direction would take us in the europeans? >> these countries are quite capable and want to be able to defend themselves. they are bordering iran and a major alternative to russian fuel on the list that we won't sell them critical weapons because of what are considered by the state department human rights violations. so there are countries that we really need and we are actually alienating our friends. we have no strategy for buying them together and it would seem to me that it is an informal
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club that he had exactly the right. as he? >> absolutely. there are things that the united states can do to hurt the united states, give nuclear technology to iran in both sides can hurt each other. we have not made direct amends to the region we have every measure and therefore the russians won't respond to and it also seems the risk of unintended consequences. for example, the president
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meeting with them today before the security -- the nuclear security summit, pushing russia into the arms of china, if you will and that would be a formidable alliance, would it not? >> that would be a massive strategic mistake and we also have to remember that russia has options independent of china. and they can bring pressure to bear in the baltics near romania's border and now they have a whole lot to bring on the united states and for all the threats we made it would make them very uncomfortable.
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lou: thank you so much. it is good to be here with you. we appreciate it. on wall street today, the dow jones down 26 points, and s&p lost nine, the nasdaq lost that day. crude oil up 15 cents settling below $100 a barrel. old felt $25. 1300 and $11 an ounce. apple reportedly in talks, early talks with comcast about a streaming tv service. shares of both companies move higher on the rumors of those talks stay with us, we are coming right back. >> to guest on obamacare's impact on the balance of power
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lou: 108 people unaccounted for in washington state after a weekend mudslide that left at least eight people dead. the president of a chicago transit union said that there are indications that the operator of a commuter train may have dozed off before the train derailed, jump platform and then actually scaled an escalator at o'hare international airport this morning. thirty-two people were injured. one of the nation's busiest waterways still close tonight two days after a ship collided, spilling gallons of oil into the galveston bay.
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joining us now is the "a-team" and james toronto. republican strategist and former spokesperson for president george w. bush. so let's start with how the g-8 is not a now the g-7, a nuclear security summit is underway and the president is met with chinese president and his secretary of state has met with the russian or. to what end? >> quite frankly we have 20,000 russian troops lined up by the ukrainian border and obviously vladimir putin has no desire to have to deal with the united states. we have seen the economic tensions have been in place and it has had some impact. we've seen 20% of the stock market in russia go down. honestly the currency of that in
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your low. so they have been impacted him an economic standpoint some somewhat, but there's a lot more that needs to be done. for example putting more sanctions on the financial energy sector and lining up the european leaders, which i think it will be difficult to persuade them to go forward on tougher economic sanctions. >> it seems somehow peculiar to say that we have to persuade the europeans to be concerned about their own interest. but we hear that time and time again, particularly from the republican party. >> i think that we are talking about the western europeans here who for longer than that have lived under the u.s. him well and have gotten used to having us defend them. >> i think that there's a fair amount of truth to that. we are cutting our defense budget they have cut there's a lot more.
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lou: what is the resolution here? >> i do think that we need tougher sanctions on vladimir putin comes back and says that we can visit moscow, that's a sign that he's taking him very seriously. it's a reasonable and symbolic step but obviously the russians don't take that very seriously and i'm afraid things will get worse before they get better because vladimir putin seems to have this number. >> i feel like the g-8 or the g-7 is a frat house. and it doesn't matter to him. >> it doesn't matter to him getting the distinct and we are talking about the reemergence of the cold war and some emergence of the media. and it is absent one elementary
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fundamental part and that is the european participation. they don't seem to be particularly upset. we hear stories about the concerns that we don't see any evidence of it. we do see their dependency on russia for this. that seems at best the stalemate. the russian your opinion countries are much more dependent on russia than we are. and the question becomes what
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happens. >> it would relieve some of that as well. lou: it's a splendid idea. the problem is we have a president who wants to keep it off limits. drilling on federal lands and at that point we are looking at two to three years and that would be a breakneck pace. and republicans have a 60% chance.
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>> he has a property cetacean ability. i thought that he was wrong and i ended up looking foolish. but it's not that difficult to set the republicans have a very good chance. they have offending seats in 2012 spirits all they have to do is in the states like new hampshire and virginia where they are putting up competitive things. >> republicans generally do better in the off year elections on the turnout tends to be lower. the big question for republicans has been are they prepared to
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pick decent candidates and so far they are doing a good job with this. lou: i have talked to a number of republican establishment types. and they swear to me that they have a ground operation highly sophisticated digital you. we have never seen that demonstration. is it indeed they are and will be afflicted and the results in november? there's been a lot of investment in made on the technology and data side. but when you have to look he on this as well, you have to think that the democrat or not enthusiastic. they are eager to win and they want a victory. and yes, they were come you are right about that, but i think that the democrats are less enthusiastic.
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to have the independence that feel that they are more in line with them than the democrats. my question is who will win the march madness. lou: you're going to have to do that off-line. because we cannot be involved in such a speculative thing. it sounds vaguely like gambling to me. [laughter] lou: mercedes, thank you so much. we appreciate it as well, james. first lady michelle obama taking an indirect swipe of media censorship over the weekend. >> is important for information to be spoken freely through the internet and the media and that is how we discover the true. that is how we learn what is happening in our communities and companies and world. lou: i wonder if her husband was listening.
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lou: stocks falling for a second straight day partly on concerns that crisis in ukraine could escalate. my guest said that ukraine will have an impact on russia, but trivial one on europe skp-pb and u.s. growth, joining us now, michael. >> good ao*e evening. lou: the degree to which we can devibe that ukraine, the russia, u.s., european confrontation is playing a role in the markets, what do you think is driving the volatility in this market right now? it is the geo political risk? or something more profound? >> it is multifaceted, emerging markets on international level
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provide an oak cues to stay short -- an excuse to stay short, including russia which had quite a heavy impact due to the ukraine crisis. lou: we saw some strength ending in the market today, later in session, some tailed off at the close. what do you see driving right now this market. we're going to get a lot of numbers tomorrow on the economy, including confidence, with housing numbers. your thoughts? are we going to see strength ending in this data? >> we will, we will ski green chutes, we had 3 months of severe weather impacts our economic data. whether it is manufacturing, housing, construction, whatnot. ure will see better data,
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housing may struggle still. it is a february number. lou: if it struggles the rest may not matter much? >> i think that market sees be february in the rearview mirror. lou: a lost cause. >> what we lose in february, we'll gain back in march. lou: a lost cause for another month. bull markets in equities, tiring, old, that is the conventional wisdom. but you are in disagreement. >> the bond market wants to hold to the last. i think where you can create a bold story for bonds for next several months may be in international crisis. plans things blow up further in the ukraine. but it is short window. lou: you mentioned green chutes, what about tomorrow? how green will the chutes be and where? >> consumer confidence.
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i think there is 60% chance we beat expectations, which are very modest. 78.5, we could have scope to you look for about 80 number. possible. look, in terms of a new home sales, we had a quite a large number the previous month. february will become upance -- comeuppance, we have personal income and spending due out later this week, expects good figures there. lou: those are all in their combination of positive outlook. >> equity markets and another 4 or 5 years of rallies though, we're just gets started. lou: great, thank you michael. listen to my financial reports 3 times a day, coast-to-coast on the salem radio network, for all of the day's biggest market and
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business news. >> weekend box office, by very gent -- divergent to the top, targets teenage girls brought in 56 million for lion's gate, muppet's most wanted in second place, last weekend's number one mr.p peabody and sherman droping to third place, we're coming right back stay with us. lou: president obama's constant pivots and occasion alley in al no tpwhreballey prescription celebrex can help relieve arthritis pain and improve daily physical function so moving is easier.
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impact wool exports from new zealand, textile poduction in spain, and the use of medical technology in the u.s.? at t. rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat thei10-year lipper avere. t. rowe price. inest with confidence. request a prospectus or summary prospectu with investment informion, risks, fees and expenses to read and considecarefully beforinvesting. lou: the vatican's chief justice, leveling scatheing criticism against president obama ahead of his upcoming visit, card na nal -- cardinal k
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saying that the president's policies are aggressively more hostile toward christian civilization. >> my next guest slamming the president for a turn and burn strategy he calls it, turning his attention to other things, hoping no one notices our fall of credibility, governor huckabee from arkansas, we start with this turn and burn strategy. it is not working to well, president is upside down in his polling numbers for a 7 r*l consecutive month. >> you know, lou, some people, everything they touch turns to gold, right now everything that this president touches, turns to dust. this is a president who has been wrong about virtually every major foreign policy move. wrong.
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about syria, wrong about libya, wrong about benghazi, wrong about russia, wrong about egypt, i can't name one country on the planet where we have a better relationship with that relationship than we did when he took office despite all of the promises, and every time we get in a crisis, his first reaction is to make a speech, he then turns from what he said, i think nobody is listening any more, this is a president whose speeches have become a little more than background noise. lou: do you remember when folks called this man a great or at or, maybe the best speech makeer in early days who took the white house. there was sort of of a amazing statement back then. but now, your evaluation of ora a to call and rhetorical ability. >> well, if you make great speeches, you have to do great things to back it up, great
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speeches without great actions skpwruft become noise. that is what i subject happened to this president, he campaigned in 2008, he made great speeches, they were about bringing america back together, about ending harsh partisanship that divide our country, about lifting people up mark -- making america, remember these words hope and change. the only thing that people are hoping for is we get change, and after paying obamacare, we hope we have change in our pockets left over. he is still making speeches, they are harsh, and partisan, acooseerasuesseaccuseer to, he d responsibility, he has become irrelevant. i admit i am a republican, i am not probably going to be for a
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lot of hid policies, but this is not good for america that saddens me. lou: this is a president who it seems to me is validateed the term, lame duck. and he has done so early, his numbers are you know, only person with the worst 6 yearg ss george w. bush. since world war ii. but he is not going to be on the ballot in november. the republicans are making a lot of noises about obamacare. but obamacare, it seems if this president is largely irrelevant. doesn't carry the skathing indictment of the democratic party it might otherwise if he were norrell vent, an -- relevad more engageed. >> his name is not on the ballot
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but he is, every policy he pushed whether it is obamacare or radicalization of american culture, i think what is thief khoupbs to vatican said, that is right, this is an administration that is not become indifferent to religion it has become hostile, they always side with the most secularist voices possible to tell military chaplains put your bibles away and hide them, don't say anything about god or jesus, somebody might not understand. you can't keep doing that kind of thing, have any credibility left as a president that is in touch with the what i call the real roots of america. lou: and strongly, and powerfully the roots but at the same time, i have to say to you that comment from an official of the vatican about our president is to me highly offensive, and i don't think should be put up with my about of us.
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-- by any of us. >> here is the thing -- >> if i may. >> he is an american. lou: if i may, i may have my quarrels but i don't want vatican or putin or any hor head of state running their mouth about our president. period. let's. >> i think that church has a moral authority, to speak out on issues, that touch the relynnous liberty of this country -- , religious. he is an american. >> good for him, i am glad that the church whether chief council or the pope, would speak out on moral issues, what else are they going to talk bnot the ncaa baguette, i want them to talk about moralty. lou: i have other issues before they go to ncaa bracket, i would like them to talk about, to talk
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about some of the -- >> listen -- >> go ahead. >> lou to barack obama, the ncaa bracket is a religious issue, the one thing he is committed to. it is one thing he is spok focui am convinceed this president and his administration as official said, progressively turned increasingly against people of faith, that is why we have the hobby lobby case, argueed tomorrow at supreme court. it is why this justice department would not defend domea, it was a law of the land, remember we talked about obamacare is law the of land but this administration ignores so many things that are the law of the land. if they just don't agree with it. lou: well, governor good to have you here. and. >> thanks. lou: i'm going to leave with you last word on that, i really do want to argue this we'll did it another time. >> we'll do it again. lou: you have a deal. tune in to huckabee fox news
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channel, saturday and sunday nights 8 p.m. eastern, a 16-year-old dare devil was reportedly able it sneak past some of the tightist security, in the new york oneworld trade center last weekend, we learned reason why. it is because of building does not have security cameras instaleed yet. -- installed yet. port authority officials bought $4,000 worth of cameras, but they are still in a back was on thofficebecause the management t authority did not want to pay cost for installing them. there is aic sense shin to economy seption to exceptionalism. >> up next, the new book may d day. author seth cropsey joining us next.
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in the new new york,
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lou: joining us now. sethcropsey, author of the new book "mayday". it is a very important book. to focus on what is happening to our naval power. it is to me, just unimagineble this world's only super power is starts to behave like a also-ran power this is disturbing. >> the signs are all over, governor huckabee mentioned question of relevance, when whether president obama is relevant any more, i'm not here to discuss that.
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what is relevant this administration has cut defense budget by 500 million. and plans to cut another 500 million. lou: republicans were participants in that. >> that sun fortunate. lou: but it is a reality, both partys have to be held responsible for it in my opinion, or there is no points of having a discuss on issue of naval power or military power if we're not honest who the heck these people are we put in washington. >> it is important: i'm concerned. about the decreases numbers of the navy, i'm concerned of the ship, the fleet that we have. lou: let's put that up, navy has. -- do we have that? 323,000 active duty sailors.
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on 2889 deloy able battleships less than 1917, to put that in context, they have 342 ships less than half of size at end of reagan administration, 1007 currently deployed amazing. >> well, the dang understands what the -- administration hands when the numbers mean, we're now going to include help hospital ships in the battle force. it came out of defense department. i did not make it up. lou: at some points, when do our elected officials those serveing this government, making move like, that when did they become known certifyeed charted charlos
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and frauds that is disgusting. you have to say, at some points don't participate. >> this is a two-party system, the government exists on the wishes of people who elected, if people are not watching this is the result. lou: what is the solution? >> it is. what you are doing here. which is tell people what is going on. make it clear that there is a crisis brewing, it may not look that way now. but in the future, when we don't have enough ships and there are crises in the world we'll see it. lou: all right, seth, one thing. that is, what of that trillion dollars over course of a decade, what would be required to refurbish ships, make them deploy an an an and add a firste
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ships for battle? >> a surprisingly small amount. lou, the budget for shipbuilding has been decreaseed by about 20% this year. so, as we added 5 or 6 billion a year, for the shipbuilding budget. to where navy wants to be. lou: over 25 year period. >> very nice. will work on our schedule, i would love that. >> increasing budget is better than decreases. lou: we thank you. come back will you soon, we'll tacontinue. >> seth cropsey. the book "mayday". up next, high commentary on why president obama and western leaders likely will not change
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mr. putin's view of the world. (dad) well, we've been thinking about it and we're just not sure. (agent) i understand. (dad) we've never sold a house before. (agent) i'll walk you guys through every step. (dad) so if we sell, do you think we can swing it? (agent) i have the numbers right here and based on the comps that i've found, the timing is perfect. ...there's a lot of buyers for a house like yours. (dad) that's good to know. (mom) i'm so excited.
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lou: time for a few of your comments, jimmy mailed us, obama's consistent deatherring and quixotic foreign policy has telegraphed the following scary message to all of the future dictateors of the world, if you want to invade another country, you can invade that country, and you can keep that country, period. bob in washington e-mails, breaking news, nevel chamber land has been reen carnated
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known as barack obama is there a win steup still churchill out to save us. >> and layery from colorado. there is little chance of reaching raopl room temperaturet us know what you think. you can go to our facebook page, links to everything on >> well president spent much of his first day in europe trying to multiply, subtract and divide, in the hague for two day long nuclear security summit. he spent much of his time trying to build support for fur
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further sanctions against russia. the group becomes now the g 7. subtracting russia from the group it joined 15 years ago, president obama did meet with china's positive, in advance of the summit, and kerry met with his russian counterpart, lavrov to talk about russia's take over ofmea. >> chancellor merkel we're told is talking tough to mr. putin, u.k. prime minister, david cameron seems to be standing with mr. obama and miss merkel, and putin a aggression has seemingly enter nizeed the
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west's interest what was slowly becoming a deflateed alliance. that has neither a strategy, capacity, assets or will to put an end to mr. put uni computer design. -- the clu cliche of crimean crs has been, putin is playing chess, while obama is playing checkers. now truth is, putin is not playing at all. he is a serious man who has so far outwited a group of leaders who are not unifyed, not real allied to stop his actgretion. they are as now, at least, simply over matched. that is it for us, thank you. coming up tomorrow congressman james langford, and retired
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general jac jack keane will joi, until then, good night from new york. i ys say be thman with the plan
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♪ neil: here is why putin smirks. he knows he has is over a barrel, quite literally. that is why the man with the oil can be so slippery. the world needs what he has which is why fox of the awful stuff he does. i ameil welcome but some energy alternatives, they might be looking at more punishing putting alternatives, but they are not, are they? and we are not, come to think of it, are we? the guy we hate is the guy whos energy we need, and even though we don't need it nearly as much as the europeans


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