tv Your World With Neil Cavuto FOX News March 28, 2013 1:00pm-2:00pm PDT
>> shepard: it was. each of the original winners poactd 83ground but they're not saying how much they plan to share with the new employee. go on 'em. that's it. the dow is up. everybody is happy. see you tonight. >> neil: read 'em and, well, weep. look at the dow, weeks, months, quarter, nothing but net. >> welcome. glad to have you. you're looking live at the big board. the numbers haven't quite settled but this much is settled. america's premiere companies had a heck of a ride, so, too, the sp 500 which look like it notched a record. cynics say what's the big deal? we're only back to where we were in 2007. opt timists say, loot what we have been through since 2007.
hard to say whether you credit this guy or this guy. both clearly weren't worrying about these guys, the tiny island nation of what might be carefully% out the bills -- carefully parsing out the bills. today we look back and we look forward. we talk to a bull and a bear. without looking like cheerleaders for either, for the good, the promising signses, the risky signs, fair and balanced. the big board, i guess in big broad view. the real news. all the news behind what is going on there for adults everywhere so we report, you decide. time to sell or time to buy? ted, and melissa on who keeps this going, and greg in cyprus, whether the government has the green light to keep going. so maybe this all stops going?
we begin with ted at the new york stock exchange. what happened today? >> well, clearly a good day. last day of the quarter, perhaps a little window dressing, neil, but at the reality is, we are at now recovery all-time highs in all the popular averages. still percentage-wise where it topped out in 2000. >> neil: do you think a lot of this is a default frame for us because of all the problem wes have seen out of cyprus and europe looking dicey. that the better part of valor is stay home, stick to the u.s. >> the u.s. at the end of the day is till the world's largest economy and, yes, it is in many respects a haven for capital, and capital is very fluid, and it will go from the weak sister to the strong sister, and at the moment the u.s. clearly is the
strong sister, and it all adds up to a market that is making new highs but then on the other hand we are basically right at the levels we were at in the fall of '07, and going back all the way to 2000. >> neil: i guess bert than the alternative. >> absolutely. >> neil: who gets the credit for this runup and barack and his stimulus or this guy, ben, and his stimulus. melissa, who gets the credit? >> oh, ben bernanke without question. this is all about the punch bowl out there that the world is drinking -- >> neil: what is he doing? >> he is making interest rates very low, so the only possible way you can make money is in the stock market. he is trying to drive investors into the stock market, and it's
working like crazy and traders say don't identified the fed -- don't fight the fed. the dow had the best first quarter in 15 years. when does he put on the brings in he said clearly when unemployment improves, and today we got unemployment numbers worse than expects and that's good news for the market. so, don't fight it. enjoy it, but better know when to head for the exit. >> neil: bernanke is keeping the rates low and then the president, the politicians, of course, trillions of stylus of -- stimulus of their own. which wins out and why? >> i guess both win out. i don't want to spike the rally punch here. i love a good rally like everybody else because i have been participating with my clients, but melissa is right,
when we lose is when rate dozen up. let's look at these interest rates. on the ten-year bond, which means the amount of money you would get to lend this oh so creditworthy u.s. government money another a ten are-year period. they'll pay you a whopping 1.8% on the money over ten years. that is going broke safely if i've ever heard it. so melissa is right, until rate goes up, money will keep going after stocks. >> neil: maybe if the fed weren't doing what it's doing. you look at the latest economic numbers, the gdp news was revised a little bit -- it's pretty anemic, and the numbers are okay but they're still fairly anemic for this stage in the recovery. so maybe these rates are justified just on the basis of the soft economy, the fed might be pushing them lower than normal but is not a bubble that bursts.
>> the bond is a -- >> neil: not overdone. >> i don't know how -- people say the fed is in control of the bond market. so when they exit, it is not going to be ugly. i don't know hough that is possible. you hear investors who have bills in the market talking about when the fed heads for the exit, they're going to beat them to the door because they can see it coming. i don't know how it's not going to all end badly. that's the biggest debate out there. >> neil: scott, that's been your concern, eventually the fed is going to take that punch bowl away and even when it starts drawing back, 80 billion a month, let's say pares its in half, how is that going to go? >> not well. i've been screaming myself to sleep at night thinking about that period of time when that goes on. let's think about the fed here. they don't have earnings to report. they don't have to do the mark to market stuff the banks had to do in the previous financial
crisis. maybe they do hang on and stick african -- stick around for the next few years, because if they exited, there would be chaos. >> neil: hopefully not but for now take the snapshot and run. thank you both very, very much. >> stolen all the money. we're working poor. 60 years, 70 years almost. >> neil: they're not so happy over there. let's say not everyone from cyprus feels as great as we do on this side of the globe, because while the banks are not open there, that does not mean folks like that gentleman are getting all their money. they can't not even close. here's the latest. reporter: there were actually fearing a run on the banks today, even a stampede. it went off pretty calmly, which is not say there weren't a lot of tensions in the crowd, and we were in the middle of it as they
entered the banks finally, with extra security guards. once inside they didn't have a lot to do. the restrictions on transactions are very tight. one is even tighter. you can only bring out a thousand our rows, a $1,300 equivalent, at any one time if you're leaving the country. the withdrawal limit is 300 euros a day, $380 equivalent. listen to one guy who did that today and is going to do it again. >> will you be here tomorrow get another 300? >> every day as long as the give us the right to withdraw money, we will be here. >> you don't think this is being handled well. >> i think if you have a crisis, cannot be pleasant. >> the president praised the calm nature of the citizenry, and also said he is going to cut his salary by 25% in solidarity, that probably won't be enough to satisfy the people here. there are new questions, new
calls for a probe no new questions for the runup to the meltdown and reports there was a outflow of cash from this country in the weeks running up to the financial meltdown. suspicious. and as for the controls we got word they should be in place for at least another month. experts are thinking, maybe even longer. >> neil: thank you very much, greg. as a footnote, they said the controls would last no more than seven days yesterday. now as he just told you, at least another month. they said when the banks were first closed, they would be closed for 24 hours. it was more like 240 hours. the bottom line is, don't believe a word they're saying. and in case you think that's just them and not us and it could never happen here,ed did. do any of you remember this? >> lost about $28,000. and we can't earn it back. my husband is retired. i don't earn a living. >> just about $135,000. just a peanut, but it took me
all my life to get it. >> neil: that's not cyprus. that's here. i'm talking about the s & l crisis. anybody remember that? a number of banks went belly up in the '8s and '90 asked some cost the taxpayers more than $124 million. and my buddy bill hammer knows first ham, his parents lived through this. bill, tell us what happened. >> dark days, neil. this was 1985. there was a run on the banks. rumored across the state of ohio. the governor ordered all the s & ls closed and only those that were fdic were able to re-open. my parents, raising five kids at the time, had all their life savings in a savings and loan and when the governor allowed some of those to re-open, the word spread like wildfire, and the paranoia set in as well
mitchell dad called my mom and said, get your rear to the bank and get our money out. my mom shows 'at the bank at 1:00 in the afternoon, neil, there's people wherever. she is the last person allowed in the doors of the bank before they're locked and closed behind her. all the people who are allowed inside at that point, stayed there until midnight that night, withdrew as up money, if not all the money they had, including hours, with the penalty in the end of 10% of all your savings. so here you have the anxiety and the paranoia build up on itself, and realike, it's cincinnati, ohio. and days like those, neil, they scar you and they stay with you for a very long time. neil teal did your parents -- they were able to get their money but -- everything but 10%? >> i cannot speak for those who were not allowed inside the bank
because so many people were lock outside. but i want to tell you is listening to the interviews greg is doing, and when you think about the people standing in line for days in front of the atms and the banks and the amount of anxiety they must have when they're told their life savings, the money they have rightfully earned and is rightfully theirs, may not be there. you can imagine what they are going through and experiencing. it can be life changing. >> neil: we look back at the -- i'm thinking of charles keeting and these infamous names. not so great for you because of you parents. we were told your money is safe there, s birdie l customers were brunched. rules were changed. a lot of the accounts were protected but apparently not enough. so when you hear, bill, a lot of people say, well, cyprus is cyprus and it's not us, and and you grew up as a young guy
witnessing for yourself what can happen, any lesson that you want to pass on? >> yeah. all great points, neil. whence is listen to this, i didn't fully understand it. i do now. i think about in 2008 when all the -- the banks went from -- to $2,550,000 for insurance. when you have trust for an institution to take care of something that is lightfully yours, and when they change the rules on you, there's inherent unfairness about that. and you mentioned charles keating. i think the banks he bought into operated in arizona, and ironically he was from cincinnati, ohio. this is michigan that started in the mid-80s but did not wrap up until about 1992 or 1993, as i recall. >> that's right.
another $124 billion 'by the taxpayers. thank you very much. >> i consider my parents lucky. they were able to get their money back. others, not. neil more right after this. he i. [ bop ] [ male announcer ] could've had a v8. 100% vegetable juice, with three of your daily vegetable servings in every little bottle. [ laughs ] whoo. ♪ oh. nice! great! [ laughs ] a shot like that calls for a postgame celebration. [ male announcer ] share what you love with who you love. kellogg's frosted flakes. they're gr-r-eat!
>> neil: air force one fueling up for florida but instead of going to the links, the president is talking about job. he's in the right state to do that because job creation has been happening in this state. governor, good to have you. >> neil, glad the president is coming but he's a little late to visit one of our ports. the federal government has not been supporting our port construction, and so the taxpayers have been doing it. we have gotten a lot done. he is going to the port of miami. they were supposed to put up $75 million, they didn't. he is late but i'm glad he is
going to come down and hopefully brag about our significant turn-around where up employment dropped faster than in other state but one. >> neil: seems to be working more for a guy who says he is running for your job. >> the four years before i became governor the state lost 832,000 jobs.mmed from 3.5 to 11.1%. the state borrowed a lot of money, and housing collapsed in two years it's a big change. staggering contrast. 330,000 private sector jobs created. unemployment to 7.8%. hopefully we'll have good numbers tomorrow. so it's a dramatic turn-around against the prior four years. >> neil: no doubt that things are improving.
you don't seem to be getting a lot of the advantage you would think that a sitting governor would for that, at least in polls. that would change. but now out of the blue you get criticize bid allen west, the former congressman, who says by expanding medicaid in your state you have effectively given up the ghost, quote when you think you're going to stand up for something and then you back up a, there are a number of up republicans did this. they wonder, where is your back subpoena. >> think about it. i was the first one to start running national ads to make sure we had the right healthcare program, a free market program, and i fought obamacare. >> neil: he's saying it's all the more ironic you end up ebb endorse what is federal expansion of medicaid. >> here's what happened. the law passed. the supreme court upheld it. governor romney lost the election last fall. so now we're in a situation where our taxpayers are playing
for it. so, i can't in good conscience say the federal government pays 100% of it, deny floridians access to health care. so i'm going to work my best to do the right thing with human being hillary rodham clinton -- health care. >> neil: you don't feel like you were a no-win situation? >> i make the best decision i can but florida families care about jobs, jobs, jobs, improving education for their kids. that's why i'm so focused on making sure every floridian has the opportunity for a job and their families have the opportunity for their children to get a great education. >> neil: on real estate, we were talking to a couple of real estate experts saying florida is turning around. are you buying this turn-around or nervous it doesn't last? >> you better hurry up buy your
house. construction is up, consumer confidence is up. we're heading in the right direction. we have more tourists in the state than ever. exports are up. we're doing the right thing here and we have had a big turn-around. i haven't added up. i want to make sure governor perry knows we're going to be the number one place, we're going -- >> neil: you guys are competing for the jobs. >> and we're winning. >> neil: thank you, governor. we'll see. thank you, sir. in the mentime, first leno, now lauer, what is it? shoot. now with the share everything plan from verizon, connect your camera, along with your smartphone and tablet. all your devices connected by one simple plan on the powerful network. record video. connect more. so you can do more.
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lauer? reports at the peacock network they called anderson cooper about replacing matt lauer. with all the behind the behind the back chatses is nbc hurting itself? kelly and jerry joining me. kelly, i can't see this helping nbc's image. just looks like bad people skills. >> exactly. from the way i perceive it. viewers want to feel like they know the people who are coming into their living rooms every day but don't want to know about the drama in the network so the more chatter, replacing him, people at home are going to change to abc, which everyone has been doing anyway so it's bad form on nbc's part in my opinion. >> neil: what makes it weirder is you could argue, both are -- they're still very high.
a little more than a year ago matt lauer was a god to the network and signed for a princely sum, and jay leno gets good raidings. it's like they don't care. >> it's not that they don't care. every celebrity, we know so much about them. now know more about the network executives. so they have to let us know, is this a good show, at it also, how are you treating the person we like, the host, what's going on? should we like them? we found out -- anne currie, that with it. >> neil: i know this is a tough business and wherever you go in this business, you get in to and it you know eyes light up. but i recognize snakes in the business, but they all seem to gather there. what the heck is going on? >> they make one move stake there was a time when they could keep michigan a -- keep
something a secret. and everything was a -- if everything was a secret, they would be doing the same thing. >> neil: nobody knew. >> it was said, three people can keep a secret if you kill two of them. >> neil: that's not what wear recommending here. kelly, i think the is in business we are grownups and maybe it is open and out there all the time but this seems in nbc's case to happen again and again. i should disclose, i used to work at nbc, and cnbc, and "today show." there's a lot of great people there but it does at least remind you maybe not so much. what -- >> you know, as younger people, we watch our backs, always somebody younger -- >> neil: what did you mean by that? >> me specifically. and we always have to watch our
backs and you need to have a sense of comfort confidence you. don't want your crew treating you poorly like you're not in charge. our want to go to work with a sense of being comfortable. the opposite is happening now. the hosts are saying, this is -- >> neil: everyone loved matt lauer, a great person, a great people person, good human being, all of a sudden, maybe ratings fall, and he is like lucifer in pinstripes. >> lost the loyalty. >> neil: these little snakes here would turn on me. but why is that? >> the world has changed. what if you're on top right now at nbc and you say, they're going to treat me like that, too. and for the viewer -- >> neil: you just hit on something. what would keep you loyal to that organization? >> no reason to stay loyal.
tell you agent, fine me something. look at leno -- leno has spent more time in any bedroom than i have. so, the fact is -- >> neil: this is a family show. >> but the fact is there's a relationship. people start to feel like they know that person. know they're being killed -- they don't stab them in the back anymore. they stab them in the front. this is frightening. >> neil: kelly, is this indicative of all broadcast houses houses and this one is just get mortgage play? >> i don't think so. not the one is work in but i also think they're on a much larger scale, and when the ratings are going down, you have to target the person who is the face of the network which unfortunately happens to be matt
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>> neil: this is a nice spright. eight days now falling, the national average on gas prices. but that could change if the international monetary fund gifts it way. they're proposing to pay here a tax to help save the environment. >> i laughed the first time i heard it. i laughed again. because something about -- some things you got to say, are you crazy? >> neil: they're serious. and majority of their members are for it. >> oh, yeah, the majority of the members are for it. but they're in nuts. they're the the reincarnation of -- the idea that somehow this is the way of taking money that
we subsidize -- somehow we're subsidizing this oil to the tune of 500 biz a year despite the fact that exxonmobil in the first quarter paid $24 billion in taxes. somehow his is going to level the playing field. we can take that money andite in -- >> neil: but it's on, on the americans. >> everyone in the world but. >> neil: we have a disproportionate share because they argue we pay the least when it comes to the price of gasoline per gallon. but bottom line is it's less, and we should pay more because we contribute more to the world's mess. >> help me figure this statement out. you don't want to overconsumption based on getting michigan for less than it costs and forcing someone else to pay? how stupid -- >> neil: the franchise tax. >> no one is forcing anybody to pay for anything but the fact is the poorer people in the world that are suffering, by the way, 1.40 extra fees, 1.78 per gallon
and that would make everything okay. >> neil: china and india are part of this, the world's largest produce contributors. >> china and india have to be snickering, let them tax themselves to death. every single day -- they're going to tax bankers in the uk. they're just sitting back. it was pre ticketed communism will beat capitalism without firing a shot: out of some kind of guilt or the notion we must get of the earth warming up one degree over 100 years. >> neil: the market must be ignoring your concerns. >> luckily the market is ignoring those guys at the imf? >> neil: why is the market
climbing? >> the world is going extraordinarily world. the world. we don't talk about ma lay sharks about -- malaysia, we don't talk about africa or south america. the world outside of the western powers that are locked into this destructive social welfare state and now we're trying to level the playing field, we're just -- sowing the seeds of our own demise. the good news is large american corporations are benefiting. >> neil: too your point we're losing our -- a rocket in russia is about to take off. it's going to have an american astronaut. this is inside the capsule of this soyuz. we are hitching a right with the russias to get to the international space station. incredible.
>> neil: all right. this is in kazakhstan, russia, soyuz rocket. this i what it has come to for the space program. we want to get back into the stars we have to hitch a ride, and that's what we're doing. one astronaut and two cosmonauts to get to the international space station. this is the only way we can get into space these days. at the blessing and behest of the russians or whoever else is going up there, and right now the russians are the only game in town. steve hair began in -- >> what we're look at now is the soyuz spacecraft and the sue iowa rocket and it's russian made and the russian rockets are the only way back and forth to get up to the international space station, which is a low orbit above the argentina.
we're looking at one u.s. astronaut, chris cassidy, and he is alongside two russian cosmonauts, about to take off for the international pace station, joining three team members. a five and a half month science mission and it's an expensive ticket for the u.s. every since they let go of the space shuttle program in 2011. this is the only way, paid tickets for the ricks, $63 million for a six-hour ride in a few minutes time. >> neil: the russians are the principle state players now, not so much anyone manned arena, on mars and what have you, but it is a humbling moment for us. >> you have to figure along with space coast in florida, there are hundreds of engineers watching with crest fallen hearts to rely on the russians.
some scientists putting in decades. the hope is, and nasa officials say in the coming years, perhaps as soon as two or three years, we'll have private u.s. companies able to make this move. right now it's the russians with the corner on the market, and the market extremely expensive. one year ago nasa signed a del with the russian space agency for $750 million. 12 round-trip flights in all. >> neil: keep in mind we would also have to return on a russian spacecraft and they land on land. >> we have ignition of the soyuz, and liftoff. liftoff, on the way to the international space station.
>> the rocket is nominal. the soyuz delivering 102 tons of thrust. >> your seeing the soyuz mission carrying an american astronaut, a better than five-month mission, but this country that conquered the soviets in space, got to the moon first, part of a great drama that we only recently celebrated the 40th 40th anniversary of the apollo 17, the final american flight on the moon. now hitching rides. courtesy of the russians. [ male announcer ] how do you measure happiness? by the armful? by the barrelful?
darkness. is our border remotely secure when they're scaling 18-foot fences in broad daylight and no less than senator john mccain watching? mccain tweeted the details but no one really seem to care much. democratic senator pat leahy is pushing for a quick reform bill and vote. more like a quick mess. >> if is it happening in broad daylight with a u.s. senator watching watching and an abc camera crew getting it on tape, what is the rush for doing this all wrong? >> exactly. we'll see a repeat of history. go right back to 1986 where good men like newt gingrich were for it and ronald reagan sign a law giving two million people
citizenship. >> neil: the idea was that we would have a strict border control with that. and of course, reagan was hood winked, and many others, because that part never happened. >> that's the second part of the deal. so the lesson learned is we can't repeat that because now the consequences are far greater. we're talking 11 to 20 million people they're now saying, golly, gee, we're not being good americans, reflecting on the proud history of a nation of immigrantsles -- immigrants unless we do this and we'll repeat this. if they have an 1 foot fence and they're scaling it in front of the senators. what do you think happens a night in arizona, and my county? we have to secure the border first before we even get into the meat of this discussion of a
path to citizenship or amnesty or deportation of certain groups of illegals. >> neil: i don't know how you get a guarantee of that. let's say you want to get a pathway to citizenship or whatever they're going to call it for the illegals here, with the proviso, beef up security on the border. you know this border better than anyone. what you like to see? not that you have a vote but what would you like to sigh to at least say, okay, we'll geoff this a go? >> well, we have the answers. we've achieved border security in the yuma sector. there's nine sectors from california to texas. and back under operation jump start, what we achieved, in direct support of the border patrol, i'm retired as an army officer, and comeand 700 active duty soldiers and airmen, and there what we did, and part of the ten-point border security
plan proposed, would deploy 6,000 armed soldiers for a two-year period of time. second, in sequence, build and complete a double barrier fence. not along all 2,000 miles border but 700 miles of the borer where there's high traffic, historic proven paths paths of smugglingd you support that with cameras. infrared cameras at night. lighting. and sensors. >> neil: wouldn't need a wall but those areas need high-tech cameras, security systems that at least watch the border. >> and then far more important than the first, the soldiers that are armed. second, with the fencing. third, in sequence, is to enforce the law. that is what we have not done. both democrats and republicans. and that's why we're at this position. we shouldn't be scratching our heads, wondering, how did we get to this place with 11-plus million illegals.
we haved a -- allowed it to happen with catch and release. the border is not more secure than ever before. and this is where, because of the economy, and there's a lack of jobs, lack of that magnet that is drawing these illegals to america, that what do you think is going to happen as the economy improves? so when she is saying that, well look the crime is down in on the border. well, look, the crime is down in new york and seattle. and she says there's less illegals, only 123,000 in tucson. what acceptable to secretary napolitano? this is her job. anybody else would be fired for doing such a poor job, and yet we accept this. >> neil: it is weird. sheriff, thank you. good seeing you. >> thank you, neil.
>> neil: meanwhile, stocks soared. the dow is on the tear and 48 million meshes are on the dole? food for thought i guarantee you will make you puke. what's droid-recognition ? understanding you clearly... what is the capital of zimbabwe ? ... the first time you ask with the google voice search. the droid razr maxx hd by motorola. droid recognition. droid powerful.
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snap benefits. when you open up enrollment for the snap program that opens up way more room for fraud and abuse in the system as well. >> neil: that is a lot of people 50 million people on food stamps and we were glorifying food stamp use in norman rock wellian terms. i take nothing away from people that deserve it but 50 million americans should have it? >> it was interesting. a local tv station down in florida that did a report. federal report that came out that over 800 floridians that received them were actually dead. we have to deal with fraud because there is so much enrollment we are come
completely backlogged. >> neil: i've also heard it's much more easier to qualify for food stamps. they used to put you through hoops and before they tried to ease that, but now, it's long gone. we've almost made it like too easy to get. what do you make of that? >> they really have lowered the requirements. one of big steps in that was the 2009 stimulus built and again, that is going open more potential for fraud and abuse. as you and i both know. rarely are government programs scaled back. they take giant steps forward. so i doubt it will be get better anytime soon. >> neil: you want to help people absolutely you do but it's sort of the idea how many need government help and how many do not? >> where 48 million need food stamps, either the recovery
isn't real because we're in real trouble? >> in the end, if you wanted a responsible program you have to deal responsible with the program otherwise it's not going to be around at all even with people that need it. the money that snap spent, $70 billion and that was roughly the equivalent of the budget of the 97 department of homeland security and the department of. >> neil: thank you very much, i think. all right. juxtaposed what is going on, a short time gone, an american astronaut on board hitching a ride to get back in space. that is the only way we can do it. a few months ago you are looking at a shot of the last space shuttle that ever flew. it's hitching a ride on the back of a commercial plane to be essentially a