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tv   After the Bell  FOX Business  June 1, 2015 4:00pm-5:01pm EDT

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a surveillance showdown one man is bringing the nsa's data collection program to a screeching halt. are americans better off? ron paul thinks so. he joins us exclusively on his son's efforts to foil the extension of the patriot act. a june swoon. investors say no way. stocks managing to close out one of the historically worst performing trading days of the month in the green. >> and then there were nine. another republican throws his hat into the ring for 2016. it looks like hillary clinton will be using her hat to take up a collection. the new york times on why she's desperate to reel in a money backer. >> because she's so poor. the closing bill sounding on wall street moments ago. usually this is a very bad day for the market. not today. trading up 20 points. there was a moment it was trading down. all the indices are in the green. as we see, the nasdaq up
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a full quarter of a percentage point. same with the russell 2000. the s&p 500, somewhere in the middle between the two. again, a good green day on wall street. maybe not so for june. but they weren't selling in may. meanwhile, the race for 20 i coul2016 is in full gear. two new names throwing their hat into the ring. our peter barnes following the action. what's the count now for the contenders, at least the official contenders for the republican race? >> on the republican side, there are now nine candidates officially who want to move into the white house in january 2016. the latest was senator lindsey graham of south carolina with more than 30 years in the air force. emphasizing his national security credentials and accused president obama of making more speeches than taking action. >> the pure power and
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resolve is the only way to be safe. i'm running for president of the united states because i am ready to be commander-in-chief on day one. [applauding] >> now, graham joins fellow senators paul, cruz, and rubio, along with ben carson. carly fiorina. former governor mike huckabee. former senator rick santorum. and former governor george pataki. dave. >> the iceberg. there are a lot more getting ready to jump in. >> that's right. at least seven others say that they are getting ready to jump in, starting with, of course, former florida governor jeb bush, along with former texas governor rick perry. and current governors scott walker. chris christie. bobby jindal. and john kasich. and real estate developer, donald trump announced that he will announce his presidential plans on june 16th. >> wow. so where do the candidates stand in the
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polls right now? >> we have an important poll out of iowa. the first in the nation caucus state, as you know. in february, this is a bloomberg des moines register poll. scott walker leading the pack with 17%. not even declared yet. suggested to maria bartiromo this week that he will announce within the month once he's finished with the wisconsin state budget. followed by rand paul and ben carson, 10% each. jeb bush and mike huckabee are coming in at 9% each. >> walker, 17. bush way down at nine. thanks peter barnes at the white house. melissa. melissa: apple is expected to announce -- streaming music service at its developer's -- to directly compete with spotify and pandora. in fact, when the news came out this afternoon around 2:20, look at shares of pandora. they fell off a cliff and struggled for the remainder of the day. david: all right. it is the deal of the day.
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intel buying a small arrival, altira. $16.7 billion. it will allow intel to expand beyond ships for personal computers into hotter markets like smart cars. it continues a wave of expansion. a 17 billion-dollar deal between abago and broad come. >> rand paul delaying a final vote on the patriot act causing key provisions to expire. (?) blake burman is in d.c. with the details. >> the senate -- monday afternoon. it resumed the debate over the usa freedom act. >> it falls on all of us to work diligently and responsibly to get the american people the best outcome that can be reasonably expected. in this reality. >> senators addressed that bill as hours later
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three key provisions of the patriot act expired. the usa freedom act would reform the national security agency bulk phone data capabilities by giving that responsibility to the telecommunications companies. it would extend -- track lone wolf terrorists and eavesdrop on suspects who continually ditch their cell phones. senator rand paul calls this a current lapse of victory for the constitution. >> i actually want more collection of records on terrorists. i want less collection on innocent americans. >> he does feel congress will pass the legislation and resume the programs in a modified form. the white house warned adding additional amendments that could further stall the process. >> the senate should not get into a game where they start adding amendments to this piece of legislation that then requires house consideration again. the president believes that the senate should act as quickly as possible. >> if and when the usa freedom act passes, it will mean a new law on
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the books. ramping up those surveillance programs overnight is unlikely. back to you in new york. >> thanks. we're minutes away from a fox business exclusive. ron paul sounds off on his son's attempt to kill off the nsa's controversial program. the irs is no newcomer to security issues. as it turns out, the agency is still using a computer operating system that microsoft stopped supporting over a year ago. could out of date technology be partially to blame for the increase in tax fraud? (?) gerri willis joins us from the newsroom. >> hey, melissa. you're right. right on the money. was that a t? i can't even tell. >> no, we have you. keep going. >> sorry. i saw the little icon come up. here's the deal, yes, it is a problem for the ir irs. windows xp was released way back october 25th
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2001 and in the intervening years, microsoft has come out with all kinds of software. november 2006, windows vista. windows seven. then windows eight. about 13 months ago, the company said, you know what, eol for windows xp. end of life. we won't support it anymore. did the irs do anything about it? no, they have not. putting us all at risk and our personal data. >> what are they saying about this? >> john, the irs commissioner telling congress recently, in regard to software, we still have applications that were running when john f. kennedy was president. it's important to point out that the irs is the world's biggest accounting business. and it's bad to run with outdated equipment. it's your fault, congress. you didn't give us enough money. we're angry about that. you and i melissa and every other taxpayer out
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there should be lived about the fact that they're not updating this software. (?) not doing what they can to protect us from the cooks out there that would love to steal our personal information and our refund. >> gerri, thank you so much. amazing. david: well, they still have time to get bonuses out. they still find the money to do that. >> they find ways to collect our money. >> straight ahead, fox business exclusive. one of the first cruisedders against nsa spying. ron paul joining us after the break. right here on fox business. >> new report sounding the alarm over two few hurricanes. some key cities going almost a century without a major storm. and experts say residents should be worried. david: too few storms. i don't get it. a fox business exclusive, cash for slackers. government workers getting paid to slack off on the job.
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talk about giggled the lily. the details coming next.
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>> well, love him or hate him, the man of the hour is clearly senator rand paul whose actions are holding up the patriot act renewal. the key issue is whether the nsa should be able to rifle through mountains of mega data. the apple doesn't fall far from the tree. ron paul fought the patriot act from the beginning. he's the host of ron paul liberty report. congressman, great to see you. or i should say dr. paul. you know, i'm just as distrustful as you are or your son is about the government having personal data. i don't like it. i don't want it. ron: right. david: but are you sure that the mega data that the government has been going through the past several years hasn't helped to prevent a terrorist attack?
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ron: i'm certain of that. they can't provide the evidence, so -- no, i don't think it has done anything. we do know one thing for certain. it has undermined our liberties and the fourth amendment. even if you could say something did happen, possibly, how much do you give up for this pretense that the government makes us safe. governments can't make us safe. that's not the job of government. david: sometimes that's the only job that really matters for the government. keeping us safe. when the united states has directly attacked us as on 9/11. ron: if you're attacked, truly attacked, it's the preservation of liberty that is the goal of the government. for instance, in world war ii is a better example. but if safety is the goal, believe me, giving up the liberty isn't worth it. and besides, the government doesn't make us safe. it has very little to do with it. it has not made us safer. i mean, we have more enemies now than ever
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before because we're pursuing a foreign policy -- david: is that really because of what we're doing? or is that because of the mentality of the jihadists? ron: well, i think we helped create the jihadist mentality. we've been doing it ever since the persian gulf war. ber zinski defends his position that the money we spent to radicalize the jihadists were worthwhile. that program still continues according to a defense intelligence report. they said that's absolute official policy is to radicalize. this is why we don't really see our bombs hitting isis. what we do -- david: let me just go back to what i originally said about you. the apple doesn't fall from the tree. you sound a lot like your son. he had a lot of stones at him for what he said on television.
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let's play that and get your reaction. >> isis exists and grew stronger because of the hawks in our party who gave arms indiscriminately and most of those arms were snatched by isis. they created these people. david: blaming the republican party for in part for the creation of isis. i would say that that just killed your son's chance for getting the republican nomination. wouldn't you? ron: well, i think you're wrong. and i think what you're saying is very discouraging because what you're saying is truth is unbearable. truth is only treason in an empire of lies. david: dr. paul, i love your commitment to the truth. and you do have a commitment to the truth. but at the same time, this is a political environment that we're in. a very political environment. and he has to be approved by this republican group of elders, if you will, and
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by blaming them for the creation of isis, i think he just killed his chances. ron: well, i think you're wrong. because if you just look at a poll, i think your station just reported in iowa, he's in second place. so he's doing very, very well. in spite of the fact, you know you're on the right track when everybody is after you because they -- the status quo cannot stand the truth to be put out in the open. this is why a lot of people hate ed snowden. he's telling the truth and exposing our government for what he's doing. most people in this country don't believe this government anymore. david: i have to mention a new ad you came out talking about a coming financial collapse. a lot of people that we know and trust have said the same thing. do you think there's any way we could avoid it? is there any correction of policies that would avoid -- help us avoid a financial collapse? >> no. it has to come because of the investment and the debt. there has to be -- sort
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of like the debt. you can temporarily delay it like they do in greece. you eventually have to admit the debt can't be paid. the crisis will come. decent policy can do is limit the crisis. now, what we did in '08 and 09 date, we exposed that and transferred it to the people. that's why this is ongoing. the people aren't fully employed. you can limit it. they have to study the depression of 1921. hands off. let the correction occur. let the defaults come. liquidate debt and the bad investments. you can have growth rather quickly. if we continue to do this, we'll be as stagnant as japan has been. >> we don't want that to happen. >> it's coming. it's coming. >> great to see you again. melissa. melissa: denied a job at abercrombie & fitch because she was a head scarf. a key supreme court ruling.
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judge andrew napolitano is here with what you need to know about the major issues still on the supreme court's docket. the kardashian family competing for the spotlight. again. kim and kanye announcing baby number two. but another jenner stealing the spotlight in a transitional photo spread in vanity fair. bruce jenner is now caitlin. first look coming up.
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david: a crucial month left to go as the supreme court wraps up its final decisions of the term. fox news shannon has what you need to know about the critical decisions still on the docket. shannon. >> from obamacare to same-sex marriage. the nine justices of the supreme court are hammering out their final decisions of the current term set to wrap
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up the last week of june. aside from the headline grabbers, they're wrestling with many other cases that can get lost in the shuffle. the highest court must decide whether or not us citizens born in jerusalem can have israel listed as their place of birth on their passports. there are also disputes over the use of regulatory power. the environmental protection agency and the department of agricultural. just how much power do those entities have when it comes to private property and business interests? and another federal agency, the irs is in the hot seat with regard to obamacare. the justices are weighing whether subsidies extended to millions across the country in order to help underwrite the cost of mandatory health insurance will be struck down. the subsidies are available in states that set up exchanges. dozens of them chose not to. supporters of the health care law warn that a decision by the court could gut the affordable
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care act. opponents argue that the administration is ignoring the plain language of the law in order to keep it afloat. >> it's a stark departure from the state's -- out of state marriages even though they couldn't be celebrated in the state. it's that circumstance where the laws diverge that the issue rises. >> same-sex marriage is the most heated controversial. is there a constitutional right for same-sex couples get married. must all states recognize same-sex marriages performed in states where it is legal? along with a couple of free speech disputes, the use of lethal injection in carrying out the death penalty is also in play. all the decisions are due in june. shannon, fox news. >> thank you shannon. melissa. melissa: several big rulings. you heard of it. coming out of the supreme court. the justices are expected to issue a
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series of potentially historic decisions from obamacare to gay marriage. a key support ruling against abercrombie & fitch. the company denied a muslim woman a job over her head scarf. judge andrew napolitano. thank you for joining us. this one is really about business and money. so she came in. and they said that her head scarf clashed with their dress code. which was new england preppie. they also said that thrch had to do -- it was a religious requirement. she didn't explain it at all. why did that not work out at all for abercrombie? >> that's the key to the case, melissa. congratulations on your great new show with david. i'm thrilled to be with you. the case puts the burned particularly important for your audience, puts the burden on the employer to ask if
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there's anything with your religious practices that would be inconsistent with your work here. by the way, you see the clothing i'm wearing, i have to wear it when i'm on the floor selling your product. the fact that she didn't say that does not mean she had to say it. the potential employer ought to have known to ask about it. that's the very practical difference that will affect hr and hiring departments all across the country after today. >> that is an amazing ruling. shannon was talking to us about that obamacare ruling. that is a very big one for businesses and for consumers. as we look at potentially seeing higher rates as a result of all this. what do you think will happen? >> the supreme court has a couple of guidelines when looking at cases like this. there are two here at oppose. one is decide the case on the smallest, narrowest basis possible. so you're just resolving the dispute between the parties. and the other is, when you have total control over the writing of a
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statute, you are responsible for any mistakes in it. so was it an actual mistake that the language says, established by the states, rather than saying established by the government? because that language would seem to say that the irs can only grant tax credits for poor people who use health care exchanges, established by the states. but the states didn't establish them. the federal government did. or should the supreme court say, this is obviously an error. the democrats wrote this. they wanted to give away the cash. the democrats wanted to exempt status and tax credits for their people. they obviously meant it, but they didn't mean what they meant. the court will have to take those two conflicting attitudes and pick one of them. melissa: judge, you're great at handicapping these things. what's your bet? >> i think they'll find a scrivener's error. an obvious mistake. (?) they'll let the irs --
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i'm against this. but they'll let the irs grant these tax credits to poor people in states that used exchanges that were not established by those states. >> judge, thank you so much for your time. david: a little anecdote. judge napolitano hired me in journalism 30 years ago. >> showing my age. david: both of our age. >> we were both babies then. david: exactly. we were single digits back then. well, june is infamously known as the worst month for the stock markets. will there be a repeat this year? some traders are saying no way today. melissa: plus, a fox business exclusive report, cash for slackers. federal workers doing union work on the taxpayer dime. don't go anywhere. ♪
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melissa: flooding in dallas despite clear skies today, officials warping of spillovers from overflowing lakes that have submerged nearby streets of the trinity river that is forcing a mass cattle drive. ranchers there having to herd several hundred cattle on horseback and rescue boats. look at that. for the month of may, there have been -- there are has been enough rain to cover the entire state of texas. eight inches deep. look at that.
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amazing. hurricane season begins today along the atlantic, and experts are predicting fewer than average of thunderstorms year. but what seems like good news may be contributing to a larger problem there. fox news meteorologist in the weather center. janice. how is having fewer hurricanes a bad thing? >> so i don't typically like to give these annual forecasts, internationally we give lower than average numbers, immorally for the last couple of years, we've been in a hurricane drought, and i think when we present numbers, it builds a little bit of complains. people think, well, maybe there's not going to be as many storms this year so maybe i shouldn't get prepared or maybe i shouldn't guy the amount of material, and when you think we've had a category 3 or higher, a major hurricane hit the u.s. coastline in close to ten years, florida,
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which is typically vulnerable to hurricanes, that was back in 2005, it was a category 3. you know, it did a lot of damage. it's been ten years since we have had a major hurricane. and since then, florida has a population growth of 2.5 million people. so you think that maybe some of those or a lot of those people don't know what it's like to be hit by a hurricane. so complacence is a problem, and that's why i don't want to say we're expecting lower than average numbers because it only takes one. that was hurricane andrew back in 1992. it was the first name storm in august. it was a category 5. and it one of only three category fives that hit the u.s. so complacency, we don't like it here in the weather garment just because numbers prove smaller than average numbers doesn't mean you're out of the woods. . melissa: wow. thank you so much. david. david: from weather hurricanes to economic hurricanes, if
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history has anything to say, june promises to be a weak month. in fact, june is is said to be the worst month for stock returns over the last few years. joining me now wall street journal deputy jack how, and senior editor chief chest. so jack, first off, why is it that june is such a lousy month. >> what you know when i hear about these calendar months, i'm always skeptical. but in this case there may be something to it. we've had a string of first quarter gdp numbers that have come in weaker than expected. and it seems to be a seasonal thing. it seems to be a problem with this seasonal adjustment on the numbers. david: so when you say seasonal, you're not just talking about the weather here. you're talking about the numbers. >> exactly. and you got this revisions in late may, so, you know, maybe people are looking at the markets this week june. david: right? >> it's not a trend that i would invest in.
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david: dan, the key is that gdp figuring very troubling, and i wonder how much longer there can be this disconnect between the economy and the markets. >> well, it's the third time that the gdp has gone into the negative territory. most interesting thing is as fox reported to recently. a lot of americans think we are still in a recession. and the washington post was reporting just today that many people are pouring money into their savings accounts, even though they're getting virtually no returns on those savings, it's a just flight to safety. federal reserves keeping interest rates down at, you know, around zero. so a lot of the money that cannot or just is not going to go into a savings account, i am convinced is flowing into the stock market. and as long as we have a disconnect like that, you're going to see a lot of money continue to poor into the stocks. david: well, the fact is we did bounce back, not a lot, but we bounced back last year
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from that did i say mall first quarter, so that going to happen again. >> yeah. we're probably can going to improve, maybe 3% in the second half. but even if we accomplish those figures, we're still going to find for the year real gdp slows from 2.4% growth, 2014 to perhaps 2.2% growth in 2015. let me tell you, david. as recently as early march, the consensus believed that gdp would grow by 20% in 2015, that simply is not going to happen. >> i kind of like it when the experts is so wrong. amber: by the way, guise rugs so good. malissa is going to raise those questions in just a moment. malissa. melissa: for your fox business exclusive. wouldn't you like to have a job where you get paid to slack off and no matter what you have a powerful authority figure fighting to keep your job if your boss even did
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stereo fire you -- you know where i'm going with this; right? the investigation into great athletics federal unions go to protect government slackers. liz. >> we investigate a fight between government agencies and their union workers and found victories that are putting taxpayers and the government at risk. some that are so alarming that one of the federal officials say quote one cannot make this stuff up. for instance, when the va tried to fire a federal worker for letting a mentally ill military veteran vanish from a va hospital in missouri, union lawyers got the workers job back reinstated and paid instead. now, a federal referee overseeing this fight said quote federal union officials treated this case as if losing a patient is no more serious than losing one where's office key. also when the ufda tried to fire an inspector who did not catch a major rat infestation,
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the union got his job back and benefits reinstated too. federal unions are also now fighting to unionize federal offices, the same watch dogs that. now, tomorrow we're going to show you how government workers are also winning fights to work from home on just union business. not even on the job that taxpayers hired them to do. union attorneys are battling those cases as well with victories. wednesday we're going to show you how unions are stopping homeland security from immediately blocking e-mail accounts, like, hotmail, or gmail and government computers. even though those e-mail accounts often come loaded with computer v
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david: secretary of state john scary returning to the united states after breaking his leg on a bike crash outside of geneva switzerland. 71-year-old kerry fractured his right femur, now there's
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no concern that his injury could complicate efforts to reach an iranian nuclear deal by the june are 30th deadline. here's josh ernest speaking about it earlier. >> i'm confident that secretary kerry will continue to be an important part of this effort, whether he's going to spend every day of the next four weeks in europe phosphates to face with his counterpart, it seems like he'll be able to do that. but i'm confident in whatever capacity he's able to part that secretary will be able to play a critically important role in that effort. david: melissa, over to you. sandra: trying to raise as much money as her gop rival. here is scott brown, former massachusetts and fox business contributor, along with fox
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news analyst senator. i want to start with you. because any time we hear the clintons crying, i'm deeply suspicious of this story. do you believe this. >> no. i don't believe it right now as we know she's the front runner. she's got two -- bernie sanders is running, he doesn't know if he's an independent, a democratic, or a republican, but he votes with the democrats 99% of the time. you have o'malley who is running as well. no competition. she's going to get all the money she takes. the numbers are about $2.5 billion, which shatters the amount of money that obama raised. . melissa: no, it seems like it. that's what this report says. no one has stepped forward as
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melissa: to go after every
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single super pack donor when we have a problem in texas, he's raising money in texas, and then he's dealing with the board of security issues. melissa: senator, he's done now, so it's okay. he doesn't want to go on any longer. >> yeah. he's not done. melissa: thanks to all three of you. >> all right. >> thank you. david: here's a look at what's coming up in her new show. >> i certainly am. thank you so much. you were just talking about politics. and we're going to continue the conversation because at 5:00. this is the only show where we have legendary investor jim grant and his take on the best presidential candidate for the american economy and from jim grant to marky mark, entourage movie is out this week, producer, actor, mark wallberg will be with me as well. and the future coming out. you robots roaming the floors of one hospital to get patients what they need. the brains behind the machine is going to be joining me.
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so next time you guys are under the weather. hopefully not serious. maybe a robot is going to help you out. david: and mark wallberg. thanks, deirdre. appreciate it. well, uber in the driver seat leaving one of the world's top robotic lab and scrambling. it poached 40 and researchers and scientists staff its new tech center in pitsberg. they were key to developing driverless car technology. uber reportedly offered some scientists huge bonuses worth hundreds of thousands of dollars and doubled the sal reeze of others. they made an offer that they couldn't refuse, melissa. . melissa: it's all about money. and taxpayers may not be so happy to hear about this one. and forget coffee. how about waking up to the smell of money? we're going to tell you one company that's making it happen
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melissa: the most empire was built with your taxpayer dollars, new data reveals that his company ahab with nearly $5 billion and government subsidies are here with us. one of the ones that i didn't know about that i thought was particularly interesting was that he takes half a billion dollars in environmental credits that companies get for not polluting and he trades them back. he's playing by the idiotic rules that our lawmakers set up. >> exactly. he's an entrepreneur, so you can't blame him for chafing the dollars. i'm not sure. i'm kind of surprised that with all of this help, dawn the companies has yet been able to turn a profit or generate free cash. that seems to be just beyond
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free cash for now. and that seems when the government runs out, what happens then. melissa: nothing to say for the stock, the tesla stock has been on fire. you look at space x. he cut a deal to get $20 million in government subsidies in texas in order to build the plant, but that's on top of the 5.5 billion that he gets from contracts from flas a. but, again, he's just playing by the rules. we're the idiots that have set these rules. >> that is right. certain extent we are. a lot of this has been happening during the obama presidency. and i think what he'll elon musk is taking advantage of, you get away with a little bit of smarts. and this is the away you create an economy and jobs. but it is not. it is the way you make money, but not necessarily the way the entire economy benefits from a premarket. that isan the premarket. melissa: and we're saying about all these subsidies,
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they're perfectly legal, but who in the end is really paying for all of them? we all are. >> without a question. that's what's so frustrating because those guy who is really not doing anything for the environmental, hitting all these tax subsidies, that's fine, it's within our rules, but we're getting the bill for. >> the idea in theory of this electronic car, i mean the automobile started with battery power, and it would be great for the environmental. but he has to demonstrate they're has drive down the cost of these batteries, and we're waiting for it to happen. >> maybe the most preventable of all of this is space x. >> yeah. because when you're trying to put it into hands, government contractors have always been split among very few companies. is that the most defensible position of these. >> i think so. the space x exploration obviously there's got to be a government role for something like that. they're contracting it out to
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people like elon musk. . melissa: david. david: whether it's on wall street or main street. here's who's making money today. warren buffett bidding for his annual auction of opening bid of $25,000, currently above 1 million with four more days to go. and don't you just love the smell of money in the morning? i know melissa does. sensor wake is creating an alarm clock that diffuses sents that stir you awake or even fresh cut grass, i do like that smell. but there is no snooze button on this machine. and have you seen this? the groundbreaking cover of haven't fair and the article inside that has everybody talking. details after the break
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melissa: of course it is not unusual to see beautiful woman grace the cover of vanity fair. meet caitlyn jenner. it follows her public coming out this has spohn a phenomenal industry. >> i want to know what this is going to do for vanity fair this month. >> i bet it's going to be very good. melissa: really stomping on the news of kim and kanye. they were trying to stomp on her by coming out the baby news this morning. >> these things used to be private. not that there was a lot of transgender stuff going on, but used to be private, even a lot of activists are starting to wonder whether it's turning into a freak show. the "l.a. times" said some of that. i am for leaving things either.
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what you want to do with your money, do of your own body. but you don't necessarily put it on the cover of "vanity fair." melissa: i disagree because i think of you want to celebrate your life, that's great speed to vanity fair is going to make a lot of money with that. that does it for us tonight. deirdre bolton is coming up next on "risk & reward" ♪ ♪ ♪ ♪ ♪ deirdre: welcome to "risk & reward." i am deirdre bolton and this is the only show where you will see mark wahlberg and interest rate specialist jim grant and the founder of

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