tv Cashin In FOX News October 13, 2012 8:30am-9:00am PDT
republican senate. or a democrat senate. and on and on. the former ceo of lockheed martin and the scen yarrow you cobble together a deal and extend the rates for everybody until it is with a republican president. it is possible under a democratic one. >> i don't think it is possible under barack obama. i really don't. he is a professor and he knows he's right no matter how much contradictory information there is. he believes he has a direct pipe line to god and he is a very nice man, but he's wrong. and if he is reelected, we'll have a real problem in the economy for years to come. >> there is such a thing of negotiating. and i alluded to ronald reagan who was open to getting some if not most of what he wanted because it meant getting none of what he wanted. jerry brown tax cut which was
a flat tax rate on everyone. no progressivity and replacing all federal taxes with two flat rate taxes it was not revenue neutral and it had a little bit of positive revenue. i supported that all of the way because of the tremendous boon bye getting rid of the income tax and i think it would have been wonderful. we need to compromise on all of the issues but not until we have a good position. i don't want to compromise before we start the discussion. i think -- >> wait until the election. >> and then sit down with your people. you don't give away your fail back position before you start. >> we'll see. thank you very much. and how the rest of the world, thank you. and how the rest of the world is viewing us and this and the back and forth and dismissing all of not that they are q. in great shape themselves.
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>> welcome back from our financial capitol where we are looking at your mon yewhat it is happening in the end of the year. a lot of it goes down to what is going on around here with us and the rest of the world views us. we are a baston of capitol and we are a safe place to invest. and ratings downgrading not with standing and we get more cash from abroad. that is not a given and eched in stone and more countries are competing like in china and india.
you heard all of this before. and the argument has been even if taxes go up here and even if the government gets bigger here, they are not going up nearly as much as they are abroad. in france, the top rate 75 percent. and so calm down x. people will always invest here by comparison. but the fact of the matter, that is not the fact of the matter. more capitol is increasingly leaving here and when it comes to pay trying to cash our incredible debt, not nearly the amount that is necessary to keep financing that debt. that is something that the eu parliment member is focusing on a great lover of our country. we are in deep you know what if we don't fix it. look at the european continent. daniel and joining us on the phone right now. one of the most eloquent readers of the world i know. dan, i know we've always kidded about this in person
and on the phone. you love our country but you don't love what you are seeing out of the your country, explain. >> i listened to your intersection. saying you have a better system than france like saying a better baseball team in france. that's not the competition it is a wide world. i don't know if you saw the hilarous news that the european union won the nobel peace prize. >> that was, dan, it was the same day i won the anti-obesity prize. i was so happy. but tell me more about this. >> well, i have thought what can they do to trump this year. euro brought violence to the streets of europe and it is greater than any time than the second world war. it trumps obama and al gore. what are they going to do next year. they can give the eu the prize
for economicings. that is the only way to go beyond. >> this is a group stolkhol'm. part of the reason that the european was providing an examine. >> they were saying an example am looking at images of riots in greece and elsewhere. that is not an example of peace. >> they mean over the last 60 years and even there they are confusing cause and affect. the eu was not a cause but a symptom of a peace in europe born out of the defeat of fascism and spread of democracy . thos what made the european possible and it is bit much for them claiming credit for it. >> they are silly prizes for themselves not with standing.
can and by the way. >> it is those blondee guys. and do you get a sense that that could happen here? i mean, these huge disruption and people who get used to government protection and we are up at the point. 47 percent pay no income taxs and i always add to that. they are not all sucking off the government . many have paid other taxs and still pay them and many are soldiers and retireys. i don't mean to sound cruel or dismissive. but that puts us in a league with france and the other countries . that could potentially put us in a league with unrest. it is any of those government benefits are curtailed here. could we experience what we are seeing in greece and spain and what you are seeing in portug al. what do you think? >> i think you are a long way further from that.
you don't have anything like the dependency on those countries, i would gladly swap power problems with yours. the direction and ouroutstanding debt is so huge. it is beyond imagination and that is a problem. >> and if things carry on with more indebtedness and more faith intervention then yes, that is ultimately going to be the future and it is an unpleasant one as we can see in the streets of europe. i will remember and you remember this. when barack obama. he said if i don't get on top much this debt problem, i will be a one-term president. he seems like a nice guy and i hope that americans are not going to make a liar out of him. >> daniel hannan. thank you for much. eu parliment member famous of getting in the face was a
british prime minister who became a former prime minister and that exchange had something to do with that. lizzie mcdonald back with me on what she sees wall street ceo's doing. >> with a fiscal cliff just around the corner. we are seeing wall streeters coming out and making comments on the record. not just larry fink at black rock who warned of a 10 percent correction. but ceo's are sitting on the sidelines and not invest hiring . there is too much uncertainty about the debt and telling congress to get a move on and solve the problem . david rubenstein in one of the biggest private equity firm and founder of the carlyle group and this is what is happening. wall streeters are handicapping what they come out of the washington d.c. and he doesn't expect a grand
bargain in the lame duck session . larry fink expects a deal in early 2013 and the most pointed comments are coming out of jamie diamond. he said congress missed an opportunity and virtually assure thad the treasury bond markets will lose patience with the u.s. congress and within two-five years and you will get a snap back and negative reaction from the treasury market who may not buy our u.s. bonds in force. there is a lot of feelings in the bond markets and laid back world coming to the u.s. as a safe haven. but jamie diamond saying that the u.s. can't borrow indefinitely . you don't the treasury market do your fiscal work for you. you don't want the fiscal discipline done for you. >> it is said only adult in
town and doing something childish in the process. lizzie, it is ridiculous. thank you very much. star of fox business network. you don't get you should demand because your fiscal future depends on it. she mentioned jamie diamond. he is considered one of the brains was wall street and putting couple million dollars aside in just a case sceniar just in case it hits the fan. not if that will come in handy if there is a melt down. he's telling you he's girding for the storm. you should remember that. he said oh, this is the six billion bad trade? i want to remind you, same people in congress. that quarter just out. up almost 40 percent. that is with that bad trade. congress should do so well after this.
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>> have you ever been so worried you can't eat? let's say you slow down on your big chur purchase and you are worried about likewising your job and you slow down on big vacation and slow down eating in the fancy restaurants and would you actually not even go to arbies or the fast food places? who better to ask than arby's chairman international franchise association. all things food and he is a thin guy . i don't know how he does that. john, that is a worry. john, usually what you see people do refrench even on the everyday stuff.
have you seen that yourself? >> being part of arbies and duncan brands we are a cross roads between franchisees and we have to weigh their view poigns and understand their behaviors and earlier this summer, we saw a slow down and cut back and overall in the industry whether it be franchises or a general restaurant industry. people forget about the big point. we talk about price per barrel. they look at price per gallon and that beginning to escalate and that got into the psyche of the consumers as well >> is it getting more, john. are you seeing more of that uncertainty and they will eventually . we remind them that there is more angst and fewer people eating out? >> i think people are refrenching and eating out less and eating at home .
generally cutting back on overall purchases and food is one of them . we have seen that softening in the summer and early fall here. but the consumer still has to eat and everybody is working hard to make sure we provide value and et cetera. and in the franchise world we have maul business people who 80 percent of the franchisees file llc or partnership returns and they are affected by the consumer slow down and the uncertainty. >> we should point out even though they represent. you know it like anybody's business. but they represent three percent of the small business but account half of the hiringings, we forget that. >> franchise trea has 18 million jobs in the country and over 825,000 establishments that are franchise and they can make a
huge contribution to the and until there are jobs and certainty in the consumer environment and business environment, we will be going through this for a while until the leadership of our country clears a path and certainty on a long-term basis. >> john, thank you very employ. we'll go to reed, wisconsin after this. it was soccer, and ballet, and cheerleading, and baseball. those years were crazy. so, as we go into this next phase, you know, a big part of it for us is that there isn't anything on the schedule.
and florida and wisconsin where they are close to dead even and tommy thompson joins us, the u.s. senate and cand date virtually even in the polls. tommy, good to have you. where do you think and why do you think for mitt romney, the swing state polls have swung so far back. is it just the debate or the normal reassessment that goes on in the campaign or what? >> several reasons, neal. you touched on a few of them and let me thank you for having me on your program. you always get closer when a presidential campaign gets close to the election and it is bound to tighten up and a lot of people are undecided . the debate was helpful and we hoped for a signal and we got a grand slam and number three paul ryan did an excellent job in his debate against the vice-president. and number four, people are very concerned about the fiscal cliff that you are talking about this morning.
you are spot on, neal and number five, people are concerned about the spending and they know if they don't change the direction of the country, we'll have a fiscal cliff and could have a fiscal melt down and they are looking to a new direction and that is with mitt romney and paul ryan and tommy thompson. >> and what if they get e mitt romney and paul ryan and it is not tommy thompson. by that you may get elected and the polls are looking better for you but the senate doesn't go republican. it is harder is it not for even a president like romney, president romney to do something, right? >> there is no question it is harder. but i have been in washington when the presidency changed from democrat to republican under george bush and then from bill clinton to george w. bush and also when george w. bush won the second election.
his relect and there is a tremendous and after the election which will be vitriolic and vicious, both political parties will come together with the idea they have to do better and there is a feeling of good will for who ever the president is and that will help us even if harry reid is in control of the u.s. senate which i hope never happens. >> hope springs eternal. of the wisconsin.from the we call would his opponent and never heard back. she is always welcome on here. and a lot more for what is at stake. we spent the better part of the two hours trying to save the country and in the very least making you aware of what is going down in this country. if we do that. our job is almost done here . bob...
oh, hey alex. just picking up some, brochures, posters copies of my acceptance speech. great! it's always good to have a backup plan, in case i get hit by a meteor. wow, your hair looks great. didn't realize they did photoshop here. hey, good call on those mugs. can't let 'em see what you're drinking. you know, i'm glad we're both running a nice, clean race. no need to get nasty. here's your "honk if you had an affair with taylor" yard sign. looks good. [ male announcer ] fedex office. now save 50% on banners.