tv Lou Dobbs Tonight FOX Business July 2, 2013 7:00pm-8:01pm EDT
fourth of july. they can do better than that. that is my $0.2. thank you for joining us. have a great night. >> hello everybody thank you for being with us i in into night for lou dobbs. protesters around tahrir square in anticipation of the military issued ultimatum on president morsi tear keep promises he takes to twitter to demanded the army withdraw the ultimatum saying he will not be dictated to ort appearing on the egyptian state television to defend the process to proclaim himself the first democratically elected leader of egypt by reuters is reporting clashes between security forces and protesters with hearing
gunfire and tear gas. now the fallout with the resignation of three top-level advisers and a call from president obama urging morsi to listen to what the protesters are demanding for the president insists united states is not supporting any particular group or moving the same democracy is not just about elections. >> we are not taking sides in this case. and is not up to us, to the united states to make choices. our commitment is to allow the democratic process to take place. it has never been about one individual but allowing the voices of the egyptian people to be heard. lori: admitted leaker edward snowden rejecting russia is a vacation in to state but would rather leaked
information from a safe haven in moscow. instead applying in 21 other nations including venezuela and ecuador but eight have already rejected his request. we have the latest in moments. and more bombshell testimony into george zimmerman murder trial with another prosecution witness proving the defense team's case. his best friend corroborated his initial story to investigators that trade on margin was reaching for a gun providing cement a chance to tell his story free of cross-examination. we take up the case in dobbs lot. the we begin with a dwindling options for edward snowden has nations across the globe ignored his request to seek asylum to avoid the espionage charges. is he responsible for
exposing his leaks but another scoop is coming soon and the world will be shocked. >> as he waits in moscow airport eighth of the 21 countries where he applied said know about excepting his application for ecuador president said temporary travel documents provided by the london embassy were a mistake and that beijing cannot consider the request right now. the foreign ministry says although the application was received and denied. >> we have carefully examined the request following careful examination, we have concluded that we see no reason to grant the request. >> after the secretary of state met with his russian counterpart john kerry
playdown the lack of movement to say it is law enforcement not diplomatic. >> it was not discussed in a way that he would be able to take any action on it although i hope he will communicate the views that i expressed. >> that is willis president said he should be celebrated for revealing the us buying tactics of the american government. >> we believe this young man has and something important for humanity and did humanity a favor and he told a great truth that is controlled by the imperialist american eats. >> all their open to accepting him the state department dismissed media reports that the venezuela report the he may take him away on his private jet after the conference. >> it is a hypothetical the focus is on returning him to
the u.s. >> although unusual several nations including spain austria and finland said the rules are the same the nsa leaker must apply in person no exception the reporter who broke that controversy spoke to fox and friends. >> it is understood once he came forward against the government he would become the most wanted man on earth and would be hunted down by the world's most powerful state. >> today his father releases an open letter to his son calling him the modern-day paul revere and the u.s. intelligence officials insist to knight the damage from the leaker is it began and lasting. lori: think you so much. journey back to egypt and president morsi defiant stand we're joined by katie
mcfarland and also john bolton. i remember after mubarak was ousted you said to me this will happen again we will see another uprising because morsi and his administration is too focused on the muslim brotherhood and religion but not to revive the economy and here we are. >> if it is all about the economy. people a standing in lines for hours to get transportation fuel and food. the economy has outlined at least under mubarak was 8 percent but the poverty rate is 10% greater than one year ago. them up muslim brotherhood has mismanaged this economy that people are in the streets in greater numbers than just two years ago. lori: so morsi rejected the ultimatum refusing to step down of looking at the possibility of a military
coup tonight? >> i don't think that is what the military wants to do i think they want the politicians to resolve the differences to get the economy back on track. because the military generals themselves are heard as well but merck -- morsi feels he does have legitimacy and he did win the election one year ago and the muslim brotherhood won two-thirds of the egyptian parliament. so when you hear the military overturning the elections or constitution constitution, you can imagine what reaction that will produce in the muslim brotherhood and that is a prescription for much greater violence. lori: but the situation is devolving into much greater violence we're hearing of injuries with a growing disconnect. i knew of the army does not
want to step in but where do you see the situation unfolding? we in the ultimatum time frame. >> i think it is fundamentally directed not only at morsi but the opposition. by definition the military doesn't like people in the streets or disorder or instability because the more instability there is, as though lower the economy will sink. they saw what happened when they took control there were demonstrators in the streets. this is very complicated. of the opposition and the military and muslim brotherhood is not of one mind either. lori: so president obama calling president morsi to dave refusing to take sides. what role should the u.s. play? >> cures the problem. obama is doing the exact same thing of carter with the iranian revolution. pulling the rug out from the
dictator and then when the new guy comes in we say hands-off. as a result of what happened in egypt have been in iran the economy gets worse, the bad guys stepped in with the more violent opposition is the king maker but the military is the key. will they side with morsi or this people industry or take a poisoned chalice to run it themselves? because it only gets worse. lori: a sad state of affairs in the mediterranean but i do want to talk about the latest and is a scandal in snowden requesting asylum from 21 countries being refused by most of them because he refuses to cooperate with russia that we heard yesterday but bolivia and venezuela may be open to accepting him.
doesn't matter at this point? has the damage already been done of the reputation? >> it has been done not by snowden but the likelihood that china and russia have gotten access to the information on the computer in documents he has with him that it is extremely important point ever access they have had to get snowden and disinformation back to the united states as soon as possible. what he is leaking out that we may have spied of the european union that most americans applaud show there has been a political agenda with his work and the administration has failed to make it clear to russia and china that we want to back. >> i agree.
there is national security damage a former president, the curve president the intelligence chiefs have said this is irreparable damage but in addition the humiliation. wait you ever imagine the russians are the chinese would do this to ronald reagan or nixon? they have done the equivalent of a slap in the face to obama they humiliated him in nothing he can do. lori: we think the damage has been done? >> one is the actual goods. lori: we know the nsa is spying on the closest allies not just searching for terrorist by economic espionage. so we heard this morning there is more to come? >> the dirty little secret there is no secrets but the question i have heard is the
president has rewritten has the strategic posture has he managed to get his hands on the most important nuclear secrets? that is the most important question. >> always a pleasure. and directing your attention to breaking news regarding obamacare. the administration announcing it issdealing penalties for margin players that to not provide health insurance coverage to workers. those who did not provide health benefits would have to pay a fine of $2,000 per worker starting next year but enforcement has been delayed through 2015. a spokesman says they made the decision after hearing concerns of the complexity of the requirements and
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stricter capital requirements for banks it is part of the effort to prevent another financial crisis. and crude oil gains and selling just below $100 per barrel. the bond market falls at 2.7%. stocks remained the attractive option and the fund that has returned over 12 percent this year, give me your take on the session with a turnaround some were pointing to greece and brazil and all ahead of the june jobs report? >> most of the new ways are on vacation so there is little liquidity.
to have exaggerated moves in the market friday is the important day with the jobs report it has so much to do with how people perceived ben bernanke to move in the future. it does not have a lot to do but they will perceive them with very little liquidity. with the exaggerated move to the upside. lori: tomorrow is a half-day for the market. then we come back for a full session on friday and everybody is focused to zero in on the federal reserve as far as stimulus. how did you think the market will react? >> if the number is substantially lower or larger the them and hedges 60,000 jobs talking about the payroll on friday, the atp, if either number is
strong girl were weaker substantially the market will be the exaggerated the fact otherwise i don't expect much movement. >> economic news aside we have earnings next week as well. , much is on the fundamentals? >> i was watching the program earlier the market is to endow a lot of those in portugal gave up with the last couple of days. the market and the economy are linked right now in the earnings season will be in contrast to previous summers lori: what is your outlook for the market? but it is a diversified and you have a short-term treasurys and that worked out for you. what is the recommendation
for asset allocation? >> for now the stocks remain the investment of choice. the world economy is getting better also of japan of all places china is slowing down but not enough to offset what will be a good story in japan but u.s. companies that have the global orientation and are cheap right now. the has big deals thinking of jpmorgan or apple with the big dividend return. so those companies on the historical basis but the earnings are going up. >> they were hammered because we know what happened in the up bond market. i was reading today pimlico
is seeing significant reduction so what is your advice? >> it is a problem. close to overturning added $9.9 billion redemption. the reason they are prone to scare people because if you own the two-year bond you king get your money back if the prices go down you don't get it back. that is a problem so people are worried about interest rates it is not a good time to be in the bond. lori: the key for coming in tonight. up next the national transportation safety board response to allegations of a cover-up of the investigation what brought down twa flight without actually responding. next.
helicopters and radar systems. to buy radar systems for northrop grumman and $9 million per piece also the blackhawk helicopter that is as $70 million and enforcement helicopters at a cost of $3 million each. critics say such a detailed requirement -- requirements are reminiscent of earmarks and an end run around competitive bidding practices. the ntsb hold a briefing on the government's official account and what led them to explode in the waters of long island calling 230 people aboard. the ntb -- it was caused by an explosion like because by a short circuit in the wiring but last month the investigation was asked to
be reopened cleaning the missile brought down the plane and a documentary is to star in two weeks and the dogs talk to the producer or there is so much controversy surrounding the crash. >> we disapprove the official theory by using their radar data. it dovetails the witness evidence they sought an object come from the left of the plane and explode this way and the data recorded this explosion and it was never analyzed. it is incredible i could go on and on. >> fox news correspondent has the latest on the briefing. >> the ntsb held a background briefing with no cameras or direct questions allowed and to it will be on july 17th to 17th
anniversary alleging the ntsb conclusion is flawed it was not faulty wires creating papers but the external explosions likely caused by a missile. >> there are explosive traces there are holes penetrating from the outside in and fractures from the high velocity event and none of those have been explained >> the ntsb did allow the cruz to you should -- shoot footage but the agency addressed questions like those who thought they said they saw missiles they said they saw the plane breaking up over the atlantic with a crippled flight sequence over 40 seconds but with the explosives they said it was in very small quantities that thermal and fragmentation damages were not consistent the was no cratering of the metal in the most likely explanation is it was contaminated when
transported on military ships or handled by those of previous exposure in some family members attended the briefing they said they did a great job on the case and they're not happy with the documentary to open old wounds. >> it was upsetting to members of my family and me to go back 17 years ago. i don't understand the point to bring up old conspiracy theories. >> the ntsb still reviewing that petition for reconsideration but no decision has been made. lori: rick leventhal. thank you so much. a major embarrassment for the russian space program today. a russian rocket carrying three navigation satellites all 17 seconds after liftoff before exploding in a fireball and that led to hide the toxic rocket propellant and the reports
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lori: breaking news, federal government stepping in to help crews battling the arizona wildfires, that killed 19 firefighters sunday. yarnell hill fire continues to burn out of control, charred nearly 8400 acres. aircraft to fight wildfires will fly to arizona tonight, thunderstorms are to hit the area, but they could bring more lightning than rain, not good. that could prove dangerous.
higher humidity, calmer wins have helped -- winds have helped make conditions slightly less volatile. illinois democratic governor is inching for a fight with state legislator, pat quinn saying he is imposing tough restricts including limiting carry to just one gun at a time with just 10 rounds of ammunition, people will not be allowed to carry in bars or businesses that do not post a sign that allow it. the guns would have to be completely rather than partially concealed. the legislator has option of accepting the changes or override quinn. >> and prosecutor in george zimmerman murder trial today call a man to the stand who claims to be zimmermannar's best -riend, witness mark oster man
wrote a book, he recounted for jurorses moment trayvon martin allegedly reached for zimmerman's gun. >> he said that trayvon had reached down and grabbed for the gun, whether it was on hollister or metal part, at the time i didn't see a different, i thought that the intent of the clear, that is when he had to -- he freed one of his hands, and went and got the gun. he either broke contact or knocked someone else's hand away or trayvon's hand away from him. -r grabbing the gun, he drew it. lori: so that is ostermen, zimmerman's bev friend testifying on -- best friend testifying on behalf of the
prosecution, we're on day 7 of zimmerman trial. fox news legal analysts are joining us, what did you think of the testimony. did it do anything to help prosecution? >> it did not, to bring in best friend of our defendant, means serve him as a hostile witness. only thing he had to repeat that zimmerman thought martin a 's account was suspects should that goes to racial profiling. >> there is one other facts -- i can not believe i am wearing hat of prosecutor today. lori: someone has to, day 7, a lot of people say that zimmerman, i'm going to come in say he will be acquitted. >> we have to talk about that. >> a lot of time, prosecutor has to put a lot of little things
out there, at the en connection the dots -- at theins, end connection the dots, in all statements he contradicts about how the kid grabbed gun versus what is in the book, the book by his best friend. >> now the book is evidence now? >> that is what he was called for, what is written in your book. you said zimmerman grabbed gun. lori: i don't think anybody is going to make a big deal, splitting hairs. >> you do that on cross-examination when defense puts you up there. >> defense is not calling him. what theory? >> it made no sense for
prosecutor to do it i agree, circumstantial evidence, brick by brick, there is no smoking gun, but you have to come out strong. >> i thought their owning statement was strong. >> yeah with square words, of that -- swear words those were great. >> those were his words. >> he didn't couch is back, and say i'm so sorry. are. >> -- those are his words. >> no. >> federal prosecutors who is like oh, we have to be all perfect, these are street crimes. lori: watching zimmerman interview on hannity from last summer today they brought up this issue of florida "stand your ground" law, did george zimmerman understand that law, and think he could get away with this killing. >> that is what they will try to prove, but it was interesting they showed that interview which means that george zimmerman will not take the stand. >> i, agree.
lori: he is telling his story. >> you are saying he is coming off credibly. lori: i am an average person. >> a juror. lori: what part of florida do you live in everyone thought that casey anthony individual would be guilty, we all had tears in our eyes. >> arty arty. >> tie up the loose end brick by brick. >> you are missing, reasonable doubt. casey anthony, it is not for defense on show that -- >> he is a human being, human -- those sick women see a -- 6 women see a mother and father, whose son is dead for carrying a botting, and a hoodie. >> here is why lesser includeds are important.
prosecutor charge second degree murder, now they need to do if that i want to get something, add lesser includeds. >> thank you. >> sorry for yelling. a lot of tension here. >> you need to go hit the bar across the street. >> i'm ready. >> you stay right there we have a lot of show ahead, brand-new report shows how superior u.s. oil production is these days on the rest of the world, the numbers next.
tune in for a international game. the turmoil in egypt is helping push crude oil near $100 a barrel. joining me with his energy outlook, denton chief oil analyst, welcome, crude oil barrel is flirting withs $100 uour eyeballs pop out of our head hark is driving the price -- what is drive are the price? >> there is sabre rattling in middle east egypt but that not it. lori: none is playing? we saw such a quick jump, dollar was stronger. >> actually, a stronger dollar would put pressure on oil prices. lori: that is right. >> right. >> i had to become backwards. >> more of the rosier outlook, manufacturing on the rise, things like that, that have people looking at oil prices,
pushing prices hire. lori: would you see an impact in brent crude price, west texas, brent crude is what europeans use then a $ 104-barrel, if you are within $5, that is also interesting and tell me why? >> the spread between brent and wti, brent is on the water crude. easilease put on ships, and shid out to coastal refineries, and bren--wti is more land locked. the relationship is important there are times when if you are a refiner on the east coast you can bring in brent crude. and by pipelines, and things like that. so, it is -- widen out tremendously when in 2010, but it has come in too. it will be interesting to see
what happens. lori: the statistics, looking at product values, are amazing right now, because the u.s. is really taking the lead, the eia reports that u.s. is number one petroleum producer in the world now, for a fifth consecutive month, how closer we to independents ? >> we're getting there, keep in mind, with statistics you twist them up to say whatever you want. saudi arabia does produce a lot more oil than we do, that was a cummulative number, the amount of crude oil produced. amount of refined product made. >> you can't deny statistic that a day or your colleague was telling me yesterday, that for first time. ever u.s. is producing more domestic oil than importing. >> right. lori: i think that says a tremendous amount. >> absolutely that was happened a couple weeks ago in eia weekly data report, it appeared to be a
flash this the pan, over the courts of the summer, we'll see that on more consistent basis. lori: we'll see some break down in price of oil? is that bearish? >> it has potential to bridge the price down, however. what got us here is the technology with the shell oil play. in north dakota, they have been around since 50s, we've only had technology to take advantage of that. >> is that this have potential for a real ik ki economic boone? >> i think so. we get real advantage with the price of natural gas. refinery in nova scotia, and
they don't have access to cheap natural gas. lori: tell us about what this means for the keystone pipeline, does it continue, because it has reached a fever pitch in politics. >> fever pitch with that. you know, it could go either way. having it built would bring more oil to the gulf coast refineries, they are already pulling in quite a bit of oil. with a couple pipeline reversals that happened in last couple of years whether it is wti, and cushing hub. so, there is it could help. but there isal potential for oil to be exported which is probably even bigger political issue. lori: got to split. gas prices, the 4th of july weekend, up or down versus last
year? >> i am going to say down, we'e around $3.50. outside of alaska and hawaii no state is above $4. lori: okay very good thank you. >> a-team is coming up. the boys used double miles from their capital one ventu card to fly home for the big family reunion. you must be garth's father? hello. mother. mother! traling is easy with thventure card because you can fly anaiine ytime. two words. double miles! this guy can act. wanna play doe rock? oh, you guys! and with doubleiles you can actuay use, you never miss the fun. beard grong contest and go!
i would like to begin, ed with turmoil in egypt, president morsi just standing his ground, refusing the ultimatum by military, morsi getting a call from president obama. u.s. refuses to take sides, what do you think happens. >> i think he gets toppled, which is a bad precedent long-term. even though the country is in chaos, when you over throw democracy after a benevolent dictator what cam comes next, military dictatorship. lori: so much aid from u.s. headed to egypt for years, what do you could our best course of action is, do you think that president struck the right tone in his call? >> i think red is -- red is right, on one hand you want is up on for the a democratic government, on other hand hard.
alternative to return to military rule is also the best thhng is to to nothing, hopefully there will be a good outcome, but i am as pessimistic as ed. lori: brad, what do you think needs to happen in egypt? >> well, right now i think handwriting is on the wall. i agree with ed and doug, this administration will fall. and let's put in perspective, egypt is a country of 86 million people, 20 million have taken to streets throughout the country, that is over 60 million americans taking to streets, you can imagine? 60 million americans, spread throughout the united states? protests our government, that would be a constitution rally crisis, what is here is that military will do something, probably in next few days, question is what. and how long are they going to do it?
who what kind of restricts do they have once a seize pour, this is say precarious situation for the president, we need to make the voice clear we stand with the people of egypt. lori: how do you think ed, pivoting to nsa scandal, snowden applied to a number of nations for asylum. most rejecting it. how is the u.s. handling this snoweden situation? >> he is a bad actor, to a certain, tent, we have put pressure on the country, that were about to take him narc is positive. -- that is the positive thing to do, you cannot let someone steal our secrets and spread them around the world, do damage to our secrecy. you can argue a lot of different points on this but at end of the day he is a bad actor, he did something wrong, he this be
punished. lori: doug, how much vulne vulnr billty do we face in u.s. that the secrets have been exposed ? >> there is all sorts of vulnerability osimplest level, any time you tell your enemies, as well as your friends, but your enemies, what you are doing, and how you are doing it it gives them aid, you know, giving them information they should not have. on other hand we lost credibility with our allies. the europeans are i think, we have seen, rightly angry. on other level. it allows vladimir putin to say, what he said when snowden showed up in transit zone in moscow airport, you americans look like hypocrites, you talk about freedom and liberty, look what you do. on all levels we lose, snowden is worse than a bad actor.
lori: frank, given your experience with bush administration. nsa came out under his administration. high said this was laid out to search for terrorists, civil liberty remain in tact, but what happened to nsa program since its inception under bush? >> the -- with the advent of technology changing it had to have been kept up with technology. certainly there is nothing senator obama would not have liked better as possible to dismantle patriot act, and fiso act, he did everything but. once you sit in that chair, and take your ocea oath of office, u realize how important that fiso act is. he has improved on it, it was
neil: ain't that rich, the leaker is looking like a loser, when it comes to countries offering snowden asylum. iit is comes to something more important, american consumer, not personal, just business, that is why so many countries are saying no to ed, they realize offering asylum to this american, who no longer likes america, risks these countries not doing business or as much business with america. that is why so many countries are declining, austria, biz ill, finland, ireland, norway. poland, spe