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tv   Cavuto  FOX Business  December 24, 2012 11:00pm-12:00am EST

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bill. you would think that his or support would skyrocket. but we were wrong. the idea that we should abandon our principles, in order to go after those votes, simply historically does not work. >> the idea that we should do the opposite is just, it is rational. lou: we are going to have to leave it here or in we thank all three of you. lou: now for your comments, at the fiscal cut is only way to get spending cut out of this government, geronimo. and carol says sandra of time mt from new york
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neil: easier said than done, one of the loudest vocal critics in the government community says he is frustrated. >> how are you? lou: i'm great. how were you? >> people are desperate. at the grassroots level all the way out. now, it's starting to show up in the top 500 companies of the united states. we are in very difficult straits tonight's feature when you started talking about this, you weren't yet heard that that you want that you can't think that companies can ignore the fallout for the fallout is fast and furious. how god is dead? >> i think it's getting really dangerous. because most companies right now
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are in survival mode. they don't know what the future's going to be like. they can't get access to capital. customers are scared to death. we are doing stupid thing like converting corn to fuel, w are sitting on great oil reserves, natural gas, doing nothing with it. we are building solar plants in the west. it is the stupidest thing i've ever heard in my life. neil: i am going to hold you down to a maybe on green energy. [laughter] you have been a bipartisan on capitol hill. wasting time as we pile $4 billion of debt every day. they are waiting for november for some closure. when you think happens when? >> the most dangerous thing in the world is a lame-duck session. they cram every bill with junk. so if you don't have the money, don't spend it. we have to retreat and backup away from this and try to get
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our priorities in line. if this was a business, we would fire the president can fire the ceo because he doesn't know how to generate a profit or engage people to solve problems. neil: is that the president order is keep bashing capitalism? do they go to bar the other way? >> i think that is ridiculous. nobody sys i can't wait to go into work until today. neil: what should we do to get them hiring, give them expanding? >> serious leadership of the country that says that this is a free enterprise system, let's let the free enterprise work. >> i would take a good hard look at the whole country.
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my taxes went up 39% and came down 49%. how can anybody get excited about that when you're like god. so somehow we have to get strategic leadership that says that we need to get this engine and the economy pumping again. neil: do you think, and this is mentioned by mitt romney a lot. you know that you are going to do things differently? dubai that? >> everybody talks about reducing taxes because they want more capital to grow their business. but it's also reulations. businesses are confronted at the township and city level. >> here in chicago, you need 161 licenses to open up the business. >> if you open up a job shop, you have to have a license to
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give them a bath. it's ridiculous. whcan't we consolidate some of these things and reduce the bureaucracy? it isn't about the people collecting anything but a paycheck. neil: they must realize that the more they push this, the more it it endangers the economy and their very jobs are online. >> you would think so, when you? there is a lot of evidence that says those people inside the beltway are living in a bubble. washington dc is the only city in the united states that has had taken continuous growthh
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>> what about when gas comes down? >> you have a gas situation where you have $4000 and their wages have only gone up about 1%. was coming up, where is the thing going to? >> it leaves cut taxes. >> i'd like to see taxes go down and someone say america is great. let's do everything we can to eliminate obacles to success
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vmax my next guest says that regulations are really killing business. we have congressman eric cantor, the house majority leader is pushing to cut the red tape. and since he does have out there, he actually has a shot at doing it. it's just too hard right now for businesses to continue to operate, given all the onerous and burdensome regulations coming out of washington. and we want to make that stop so we can turn the country around and began to be a starter country again. we know that the obama administration over the course of the term has imposed 400 regulations that impose more than $100 million of costs annually on small businesses. the small business administration has said that there are so many regulatory burdens on small business that it cost them $10,000 per employee. those are the kinds of things that we want to stop right now so we can see more startup and
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jobs created. >> is one thing to hope for freezing regulations. but i guess we had hoped for "a-team" canaday. if you don't know these regulations, you could be in big trouble. let's say that you stop adding to the regulations. that alone has prompted the obama administration say, well, republicans don't want to protect us. how are you going to answer the predictable criticism that you're not looking out for folks, you are looking out for business interests? >> well, we are. we are saying in health emergey, of course. any sensible policymaker would say you have to be able to address those. but right now, the pendulum has swung so far that it's very difficult to even conceive starting up your business. and we want that to occur again. much less allowing for those who are operating businesses to keep the lights on and grow.
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you know, you look at the last three years. we have seen a 23% decline in the number of business startups. in america, we are a starter country and we want to see it happen again. neil: he was ronald reagan's top money guy. why he says capitalism is in trouble these days and it's the governments fault. by the way, republicans as well. we have david stockman acts. and suzanne somers on lala land going gaga over president obama. but next, ralph nader has had enough. he says that both parties in washington are flailing. and that is why the economy is and that is why the economy is failg. [ malennouncer ] it's tt time of year again. time for citi price rewind. because your daughter really wants that pink castle thing. and you realldon't want to pay more than you have to.
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neil: the economy is stumbling. nothing seems to be happening, but ralph nader has got a plan. one day he says he will get companies hiring and fast. getting people spending soon. >> nonfinancial companies are sitting on over a trillion dollars of shareholders cash. the investors cash. a lot of them are not giving adequate evidence. some of them like google and emc giving no dividends. if they can be pressured by pension funds to unload a cup and billion dollars into the economy, people would spend it. they don't like the tax penalty for it. would you give them a tax holiday? you have to put it to use and do
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something? >> they tried that in 2004 and they brought back hundreds of villains. they put the murders and bonuses and what we have to do is recognize the president obama is not an economic dictator. the federal reserve can bring interest industry rates much lower. so we have to go to these two other areas are overwhelming support of inflation adjusted minimum wage. >> i'm not alone in an environment like this, how are you going to compel businesses, fast food joints and the rest, but it's in there interest to raise the rates when they are barely getting by as it is just as henry ford did back before world war i to $5. he said he wanted people to buy the cards. that's what you got to do.
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neil: so what about substance of the country where they have jobs with $10 an hour. were people really aren't jumping on these jobs. where we have a country where help wanted advertising is at an all-time high. a lot of people, for whatever reason, it are having trouble with work. >> we are talking between seven and a quarter and 10. he would get a long-overdue pay raise just to in just to inflation. if you have rick santorum and mitt romney saying the minimum wage should be ingested, that would put pressure on them. >> let me ask you this. do you think the people are as tired of the notion of government could do something?
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we have seen a little bang for the buck. a lot of people are going the other way. they are careful to go that way because they remember republicans. but is there a limit to what the government can do? would you say that cars being made safely, and they say, you know, government can't make an economy as a whole. >> they don't have much power. we have to demand more from big business. neil: will the government demand that? >> business can hardly keep up with the corporate climb. barclays, jpmorgan chase, now, wasko, 3 billion-dollar fine. we have to save these corporations. they were built on the backs of american workers. build buildout by american taxpayers. recording record profits.
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sitting on trillions of dollars, keeping them away from their owners and the investors and the workers. neil: are you saying that there was crime involved? there was no crime involved. are you saying that all of these guys are typical? in other words with that there are more bad guys and good guys? >> the big guys have too much power and are too big to fail and all that. >> leches take the fortune 500. would you say, you mentioned three prominent companies. would you say that is 3%? 5%? 50%? i just disagree with that. >> if you look at the reports, my book that you've mentioned, those are reports from "the wall street journal." the ap, "washington post", 60 minutes. we live in a corporate world. there are not enough on the corpate crime beat.
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neil: economic gloom and doom is actually helping this gentleman alive. to are you kidding me? >> i am not kidding you. i just need $150 and not that. [ ro ] i'm rosa and i quit smoking with chantix. when the doctor told me that i could smoke for the first week... i'm like...yeah, ok... little did i know that one week later i wasn't smoking. [ male announcer ] along with support, chantix is proven to help people quit smoking. it reduces the urge to smoke. some people had changes in behavior, thinking or mood, hostility, agitation, depressed mood a suicidal thoughts or actions while taking or after stopping chantix. if you notice any of these stop taking chantix and call your doctor right away. tell your doctor about any history of depression or other mental health problems, which could get worse while taking chantix. don't take chantix if you've had a serus allergic or skin reaction to it.
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if you develop these stop taking chantix and see your doctor right away as some can be life-threatening. if you have a history of heart or blood vessel problems, tell your doctor if you have new or worse symptoms. get medical help right away if you have symptoms of a heart attack. use caution when driving or operating machinery. common side effects include nausea, trouble sleeping and unusual dreams. it helps to have people around you... they say, you're much bigger than this. and you are. [ male announcer ] ask your doctor if chantix is right for you.
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hi hi ♪(whistling tune) ♪("don't worry be happy")
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>> i'm not going anywhere. >> go right out the front door. how about that? >> how about that? >> listen here, listen -- i don't give a darn, you can have it. >> here is your ball.
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neil: here is something that israel is the economy. it's a very bad, that business that pawnshops -- well, he says everyone is coming in lately and even rich folks. that's what our next guest says. >> she left calmly, because she had no option. when we can't take your pond item, we can help you. it started with her in it resonated on to me. we don't want to be disrespectful. when you disrespect us, wect accordingly. neil: you act a little scare away. what is going on here? you know, we are hearing so much
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about wedding rings and engagement rings and everything. we have seen an uptick in people that make a lot of money what average folks are telling you, showing you, palming onto you, tell us about the economy. >> we have merchandise which is up online, with the other one is for redeeming merchandise. the economy is good. our sales floor is busier. our palm lines are longer and we are taking in a lot more
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merchandise. right now it's getting a little bit better. people are working desperately to get to wok. people just need to go out and
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every morning when you wake up coming have to ask yourself, how bad do you want to? go get a job, it doesn't matter if you clean the streets are mowed a lawn, or you are a doctor, there are opportunities out there. what i advise them is don't over extend yourself.
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neil: so my wife's 250,000-dollar ring, -- [talking over each other] [talking over each other] >> we've been doing this long enough, we understand. >> don't go anywhere else. thank you very much for coming. he is the guy. we will have the response to barack obama coming up next. the capital one cash rewards card gives you 1% cash back on all purchases, plus a 50% annual bonus. and everyone likes 50% more... [ midwestern/chicago accent ] cheddar! yeah! 50 percent more [yodeling] yodel-ay-ee-oo. 50% more flash. [ southern accent ] 50 percent more taters. that's where tots come from.
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♪ grew up in a small town and when the rain would fall down ♪ ♪ i would pray ♪ i'll spread my wings and i'll learn how to fly ♪ i'll do what it takes till i touch the sky ♪ ♪ i gotta take a risk, take a chance, make a change, and break away ♪ neil: it has been pretty much the legacy of this presidt's term and it was handed off by his predecessor if you think about it.
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auto companies, you name it. a lot of us actually started a long time ago before each of these men even came in to office. back to the carter years, to chrysler. a very big bailout. david stockman, who was then a congressman was urging against. >> i was running for reelection and chrysler was the biggest employer and i got the highest% of election because i suck my principles. the professionals knew that if they got in trouble, they were big enough to make a stink and to go down. neil: but now things have switched. now they have gone from o big to fail. >> up the speech that i gave and i was very unpopular in the
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mission michigan delegation. i voted against the appropriation. [talking over each other] ronald reagan might get. >> the point was it was a mistake then. not only for chrysler, because we had to bail them out again 25 years later, how can we have financial markets that have been disciplined where mistakes and errors go unpunished? u can. capitalism doesn't work that way. neil: i agree with you. you bertie concerned me. we had no choice because there was a financial abyss waiting. but if we can stabilize, the whole world would have
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collapsed. i've been spending the last 2.5 years writing a book on this very topic that will be coming out next winter. take aig. they had written proper rules, they wouldn't have had these problems. therefore, we could have put aig into bankruptcy. the only difference is one woman was writing all this stuff. >> so we would have survived? >> yes. neil: now we have an environment where this is routinely done. the european central bank will do the same over there. >> wt has become of capitalism?
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>> the capitalism has been destroyed by central banks. they are the price of death. when you have the entire financial system trading off the last of the statements and whispered words of the central banks, it is no longer doing its job. or allocating capital, discounting the future, making choices within the financial system. so if you don't have capital markets that are robust and working, how can you have a dynamic of capitalism? i don't think you do. this is the ultimate fault of this money printing binge that were on today. neil: up that the chicken is coming to roast? >> everybody is making their own choice. we have massive speculation going on. basically we are diverting
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capital to a spectrum of use. what we are telling washington, you are running a deficit for the fourth year in a row and yet you can borrow money almost for nothing. so why don't you just wait another year or two years. who wants to take the fall? who wants to take the political heat if you can borrow money for five years, which is what they are doing now. neil: we are building another debt bubble? >> yes, we are doing so. >> i don't know what you call it. we've never been there before, we've never had a central bank. we've never had anything like that. >> you don't think it can walk past the graveyard much longer? >> i don't think so. i don't think we can whistle the tune very much longer. >> okay. neil: if you had a lead suit you would buy it. [laughter] neil: david, thank you so much. the president isnow speaking
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oh! blue! i touched the ball before it went out, coach. come on, alex, the ref did not call that! it's the championship game! i touched, it's their ball. don't foul them when they inbound. team! alex! good call.
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neil: probably not a fox alert to tell you that huge celebrities like democrats, they actually help the president win if you think about it. but not every star was going gaga over the president. suzanne somers says that that is a risk for them as well. if you are conservative, you are not welcome in hollywood. >> is it really does liberal bastion? >> yes, it is a liberal bastion. >> they don't associate with moderate to conservative? >> it is all about that ideology. you know, when you make that much money, you don't care. because you have your money. neil: would they think about when jon lovitz came along.
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>> he's not invited either he's never going to be invited. neil: but he said enough of this. >> i thought that was interesting. t many people speak out like that. i have a little business, so i like to not offend anybody. so i don't tell anybody my views either way. neil: i would say i'm a centrist that leans to the right. neil: you have to be moderate on her persona non grata. >> i sell my little life with my organic skincare. neil: that's a lot of money for your little skincare line. >> i didn't leave tv. i was escorted and booted out the door in and fired. i get tired a lot.
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>> how dare me to expect them to pay me what they pay the men. but then it was good because i thought i will never work for anybody else again. so i work for myself, and i have all these years. >>ll the beauty products and things, everything around her age, do you feel a lot of pressure without? to feel beautiful? >> i just wake up like this and it's so easy. neil: me too. [laughter] i saw you talk to will tell welsh. >> my thing is that she knows her image is everything. everything has to be right. >> her writing is very good anyway. i feel pretty confident. neil: you know, the writing at 50 pounds, did you know that? [laughter]
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[talking over each other] [talking over each other] neil: will this be mitt romney's disadvantage to the media? >> it probably is, but it won't be to me. >> i think that he should have come out a long time ago and said this. but anyway i'm glad he did. most of my friends are. neil: he's not going to pick up any additional electoral votes, maybe he did it for all the right reasons. >> it could've been perfect timing. neil: what do you mean? >> well, you know, -- neil: with some liberal friends hold off on giving him more money? >> i think that a contingency
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did. this is what they really want. if they are not thinking about the ramifications on the economy and what's going to happen in this country goes socialist. neil: do you think that this country wil go socialist? >> i do worry. i have my little business and i do worry. at a certain point when you're a small business like i am -- neil: you're not a small business. you are a warren buffett with long-haired if you reach a point where you get to 75%, which is being tossed around there, how can you eep your employees? at some point when you're not making any profit. neil: a lot of what you say, it is 35% right now, that's what you're saying, you bring in up to 39.6% under clinton.
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i might be able to live without. i might not. is their level of cunching the numbers? you are pretty good at math? >> i am married to a canadian and i can always run to canada. [laughter] he has dual citizenship. neil: may be billionaires are not focusing on jobs because they are focusing on their love lives or their lack of one. how the grinch are striking out these days. it could be a real beach for it could be a real beach for jobs. male announcer ] you are a business pro. omnipotent of opportunity. you know how to mix business... with business. and from national. because only national lets you choose any car in the aisle.
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neil: if you are rich, the president is itching to go after you. my next guest says that is bad, but this could be worse. millionaires and billionaires are having a taxing good time finding love. but 1-800-flowers, jim mccann says that he has the fix for that. i am finding that the peak is in. they are all telling me about what things are all about, the number one or number two show in the country is the big bang theory, so we arall celebrating the geek. neil: this idea that ifyou have this business, very good common sense, i think they are looking for answers in all the wrong places. how do you invite them? >> i will tell you as a florist, it is good business being in an
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ability to help people and relationships. i have been a social worker, i have been a florist, and both have a common theme. i wrote a book about my discoveries about the thing that makes us unique on this planet which is a core of the story. the matter what, everything we do, whether it's the places we work with a service organizations that we might want to come in the sporting activities, we are all seeking out social intimacy. and if you are a hard-working and hardcharging geek of some success or not, you may not have the opportunity to meet someone, yet we are searching for that every day. neil: you have a lot of guys that send flowers from secret admirers and all that. >> we are very happy to hear that. neil: you were telling me during the break that the number of guys who send flowers out is not a reflection of a date or
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anniversary is because the they are sorry or they did something stupid. >> there's not a days that goes by that i don't have a young guy come up to me and say you saved my butt so many times because i've always screwed up. either we make less mistakes, but it's a high percentage for young men. not so much for the older guys. they be we have smartened up. neil: you should have an apology bouquet. we have a dog house uk. do people use flers to make a statement? >> during the last few years, the top recessionary times, we
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saw a number of transactions with the average ticket was down. and our food businesses held up even better. a box of chocolates might be a little bit less ephemeral than a bouquet of flowers. birthdays are still going to come around. all of those celebratory occasions are going to come around they need to participate in. we had a nice little service that will help others. neil: who better than the guy who plays cliff on how jobs are falling off a cliff. john mica murder on layouts that are way out of the norm. and while he says his fix is better than washington's. better than washington's. bar none. [ woman ] ring. ring. progresso.
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i just served my mother-in-law your chicken noodle soup but she loved it so much... i told her it was homemade. everyone tells a little white lie now and then. but now she wants my recipe [ clears his throat ] [ softly ] she's right behind me isn't she? [ male announcer ] progresso. you gotta taste this soup. [ clears his throat ] [ softly ] she's right behind me isn't she? why they have a raise your rate cd. tonight our guest, thomas sargent. nobel laureate in economics, and one of the most cited economists in the world. professor sargent, can you tell me what cd rates will be in two years? no. if he can't, no one can. that's why ally has a raise your rate cd. ally bank. your money needs an ally. i played a round of in the last five hours? then i read a book while teaching myself how to play guitar; ran ten miles while knitting myself a sweater;
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jumped out of a plane. finally, i became a ping pong master while recording my debut album. how you ask? with 5-hour energy. i get hours of energy now -- no crash later. wait to see the next five hours. we went to a park and we handed people 10- and 20-pound sandbags. here's what happened.
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i just truly feel winded. i can feel it in my back. i didn't realize what extra weight on the body feels like. oh, i definitely felt it in my knees. you can easily put 2, 3, 4, or 5 pounds on in a year. woman: 10 pounds makes a big difference. no one liked carrying the extra weight, but people do it all the time. wouldn't you like to drop that weight and stop picking up more? man: i think this is a lifechanger for me.
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neil: clip is going postal. a famous actor who played clip on the hit tv show cheers, with millions of workers struggling to find work, he is working to get actors back to work.
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neil: it was almost ingrained in us to move away from that. it really killed us, do not. >> yes, it did. i started talking about the subject about 10 years ago when the water was at her ankles and now it's up to her chin. because the average age of someone who is skilled and can make things, whether it's in a fax factory or a plumber or welder is about 57 years old. very soon, they will all be retired and we have no one coming up after them. everyone is talking about what kind of capricorn where. but we are heading for a crisis. while business, whatever the businesses, stems from two things. mining, manufacturing and farming. everything springs from now. you have to have people showing up to have the skills. and we have never taught her kids the skills the last 30 years.
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they would sooner turn those guys away and search for cheaper labor. the reality is decades. you are not going to call a plumber from china to unclog your toilet or a welder. neil: so now you are saying that we have to encourage this. so we put almost a scarlet letter to a? >> it is hollywood's fixation they came out of the charlie chaplin view of factory workers. it's not like that anymore. you have to have computer skills. people who give advice to high school kids should say, start educating kids like we used to.
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neil: even if they found their jobs that don't pay what they used to, in this environment, it will pay you anything you are going to get and you will be grateful for it. >> the government has to understand. [talking over each other] [talking over each other] neil: what about barack obama? >> the government needs to get out of the way.
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manufacturing is to america what spinach is to popeye. the strength of america is manufactured. neil: yodon't think we can have a great country based on service? >> again, you go back to our terminals and electricity has to come through there. where you get do you get that from? a hydroelectric dam words power that is coal-fired. and now now they have all of these restrictions on coal mining and also the hydroelectric and i have talked to the people and they said that they can't find workers that work on the turbines to repair the turbines. so the day to come. it could come when no one is
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around to manufacture it. every little part has to be shaped. someone has to take a chunk of metal and put it intothe machine and all that down to 120 southend-- 120,000th of an inch. neil: you been in every pixar movie. >> .true, but in the long haul, actors, sports, celebrities, the rest of us, we aren't. neil: how did you do it? how did you succeed and do the things you do? how do you you still be a big succesin hollywood? the left loves you. the right loves you. and it's pretty much from as far as i as i can tell from a u.n. plan is for it. i don't get


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