tv On the Money With Maria Bartiromo NBC November 17, 2013 5:30am-6:01am PST
welcome to "on the money." history in the ming. wh a new fed share could mean for the economy, the market and your money. president obama defends his health care and, but does it fixfix things? why going social could hold the key to finding holida travel bargains this year. how you can get way more and pay less. "on the money" begi right now. >> this is arica's number one financial rogram. maria bartiromo with "on the money." jane yellen made it through
her senate hearing. she would be the first woman to head the fe there was little ranker and it appeared she will be easily confmed before benbernanke's term end on january 31st. the market sets records all week. the dow hit its third all time highll week as did the s&p 500. e nasdaqhitting a 14-year high. the markets continued tclimb on friday. sysco beat on profits but t revenue was short expectations and it has poor idance. the compan stock got hit. the 23-year-old founder of snap chat, a smart phone application that makes picres disappr after they are sent tued down an offer to be facebk for $3
billion. zero in revenuend they turd down a an offe they are hopef of a bigger offer down the road. the nonee to head the fed faces tougquestions on capitol hill. joining us now to talk aut all of that and a lotmore, heidi ore moand alison deans. good to see you. thanks f joining us. alison, the bigews of the week, janet yellen iner senate hearing. it looks like she will be nfirmed. looks like she willontinue the easy money policy of ben bernanke th quantitative easi. do youee any impacts to the markets or do you think that's excted? >> think it's expected. wasçó interesti the market had a bit of a rally. toe overall think this is highly expected.
>> would you put newmoney to work in the market ow? >> i think the market is attracvely valued. there'a lot of potential for significant upsideimprovement in global economies and therore while face value the maet looks valued, i think we can be undertimatinghere the economy goes. >> that's a positive. at se point she i goi to have toial it back. listen to what dr. yellen said about the possible risks of qe. >> i would agree tha ts program cannot continue forever. there are costs and risks associated wh the program. what does that tell you? >> any change? what do u think that means for slowing down the bond purchases? >> it's a little bit more negative than what ben beanke id and what the house sd.
she believes we have a lg way to go. there's a lotf iome an inequaty and as long as it's not robust she wants to continue that stimulus. >> is there anhing you think e needs to do better as bernanke. we get different messages from various goveors. a lot of time peopl from the fed are talking and they debate. >> that's one of the great thgs about the fe it's designed toave debate. it was one of yellen's innovations to have more transparency. it was her ia. i thinshe can continu that. the best thing she can do is be writer. right now the fed is not a great focaster of the economy. yeen needs to be stronger on predicting where things wl go. >> another debate is the retail investor has been in this market. 's not been in this mark. whatre you seeing? you think the retai investor is back in the marketr on the
sideline? >> i think they are tiptoeing back io the market. no going gg busters but you'll continue to see the trend. while they worry about interest rates going higher and what it means for the value of the bos becae they tend to o t ads interestarren securities, i think they're not making money onsavings. they're startinto feel better about the ecomy. they're starting to feel bter about the stock market that looks stle. if our governmt would behave better, that the governments starng to compromise i tnk people feel beer and more at an acceleratedace. >> he is a week as we look back at the week. we had recordrices paid at auction.
we have a sck mket that hit all time high we had a 23-year-old founder of snap chat. a company th no revenue turning dn an offer of $3 billion to acquire his company. he turnedt down. what does thisell u? >> there's a lot o insanity ght now. alsoe have the twitte ipo just lasweek where you had company that had no profit but doinreally well. i think it shows we have an economy that's ry much about haves and he notess to a certain extent. some people are doing really well. on the economic side you have the retail investor and a lot of inemployment in the country and we have a congress which is very to saydysfunctional. all of those are the head winds
that are facing a true recovery or what wou be on the rising tide thalifts those. >> earnings, they're mixed. yo can't say they were better than eected overall. they were xed. in the fac of that you have añi melt up. dwroup think it's sustainable? >> we start see iing economic activity pick up. my senseis the economy starts toick up you could see earnings and pfitability improve next year. >> any thought sns. >> things that iatch is wha other experts are saying out the markets. one of the thingshat struck me is larry sin from black rock
saying he hn't been as foolish in the past. that's not the final word. she' saying those aren't happening, but again, things to watch. if things look a little heated i would say invesrs need to be careful. >> thank you so much. great to see you both. up next, the president proposes anbama care fix. what is the deal about keeping your insurance mean toçó barack obama the potician. the authors of the 2012istory campaign, doubleown will join me. >>if you hen't booked yet, you mit be surprised to find fewer deals than last year. don't worry, we have a few tips toelp you save. take a look at how t stock market ended the week. back in a moment.
>>i think it's legitate for them to expect me to have win back some credibilityon this heth careñi law in particular and on a whole range of these issues in genera that's on me. >> the president this week saying thathe buck stops with him on the problems of the obama carroll t. my next two guesnow better than anyone. what happens when the presre is on at the white house. mark halperin and john heilemann are the co-authors of "double down mark and john, good to have you on the program. thanks for joining us. >> great to be back withyou. >> psident obama aounced a change to the health care policy saying tho with insurance plans below obama care standards will be allowed to renew them but inrance companies wille
allowed to tell them about other options. you two dug deep. were you surprised b this confession this week? >> theast is prologue. erything we writebout in the book related to w the president woelection. the night health care passed he said business isoing to kick my butt over th. while the presiden won re-election, he left himself with not a lot of allies, not a lot of support for health care. the team around eresident is pretty much the team he came to the white house with high pressure he does n have that broaout reach andhat open diogue with a lot of people that miet have hped him see this coming a a team a little
more prepared to put this plan in place >> do u think that hurt him then? >> i think so. one of the thing at's true is he's had a lotf oppotion. publican vs made it hard for him. he's had that complaint throughout his whole first time. inhis casee's really con fronting for the first time a failure that he can't blame on anne but himself. i think that's part the pain and frustration when he spoke at that press conference this week. he's having to look inward in way he dn't have to do before be. >> he decided he didn't wan to be anotherresident without bringing the united ates into the industal community. she was just going to go for it.
he's left hielf in a weak position inwashington and around the countr >> of the cast of characters om the 2012campaign, who do you think has longevity going to 2016? >> people like rick perry. all those people ll be looking at the ra. the n is chris christie. we write a lot abou him in "double down." he's a big figure in the book an american politics. for readers interested in getting a fully well rounded picture, some those are the things that the romney team identified. you' see a pretty rounded and novrl picture of chris christie and one that american voters
will come into view formerican voters in wap it hasn't befor as he gears up to make a run in 2016. >> can he beat llary? >> if you survey the rest of the field the reason chris christie is getti so much attention now is a lot of ople in t party look at him is someo who can go toe to toe th her. it happened last time whena bunch of verwealthy people arou the countryried to ue him to get in the race becaus ey see him as that ig, broad powerful figure who can go up against a bark obama and they hope against ifhe isthe nominee, hillary clinton. >> money played a b role 2012. you write abouit. tell me how these men like david
koch impacted the race. >> it's a he thing. it's onef the pies of fall oufrom the citizens united decision. in terms of the 2012 race candidates like newt gingrich and santorum would have had to close their candidacies down early if they didn't have foster freese and rick santorum ks they maged to elongate it. i think no question into 2016 there's billionaires and miionaires we talked about they feel burned. ey feel as thoug their mone wasn't spent who confusedhe republican establishment with the reas grass roots to take whoever the democratic nominee is in 2016. >> the book is great. thank you so much for your time. we appreciate .
oining us now is tral and leisure mazine edir mark orwoll good to see you. thanks for joining us. the price of travel is expected to rise acss t board for frights d hotels. it's going up 3%. air fare over 8% over last year. you can expect to pay a little more this year than last year. >> why? what are your tips for fding savings? >> the airles candoit.>> frds they don't need to doit. go to the big travel webses li iceline. most have travelholiday deal zeks. sign up for air fare alerts. i use a sight cald air fare
watcog.com. they send als to me. >> the plane ll be crowded. they will be 85% full on average over the tnksgiving weekend. prices are 8% higher than lt year. what's behind this increase other an the airlines can do it? >>ne of the things is the airlines are king tons money. i've heard one person say i the last couple o years the profits were zor thin. now they areaper thin. they are doing pretty well. a lot o that venue isñi comi from the ancillaryees that they are getting when you have to cheng a b and you have to pay a fee change your travel dates. i ink it's estimated $42 billion just on those fees alone. >> how can travellers aid the extra es? >> when it comes to a lot of the fe you just don't pay them. i always carry with travel ones. the last time i paid for a checd bag was almost never. you don need to pay extra for
the in-fght entertainment. >> thesa expanded the pre-check program to another 60 airports which allows prie-scren passengers to go throug i love the ia of using my u phoneñ as my boarding pass. how doeshis affect experiences? >> you can't make phone calls. you can play angry bir while waiting r the plane to take off. the benefi is the flight attendants aren't going to have to go up and down the aie telling everybody to turn off their devis. maybe we'll get in the air fast. >> what about the expedited lanesns. >> they will be expanding to a number o airports. you don't have to te off your
jacket. you can kp your laptop in your briease. they are comnicating flyers. >> i'm sure you saw the justice department dropping the lawsuit ainst the american airlines anu.s. airways mger once ey aeed to give up nerous slots acrossthe country. with more consolidation will there be suffient capacity in the sky so the industry can't raise pces to sky high levels. >> the airline fly as ny as they want to in fact, they have gotten so sophisticad at it, when is the last time you got on a plane and you saw an entire mile row ee to lie down. yocan't do thatanymore. i don't think it's going to have impact on number of flights. they'll be givingup the slots
for re on our show, check out e website. i hope you'll flow me on twitter and google plus. lookor @maribartiromo. several big box stores report quarterl earning ahead of the liday shopping season. that includes home depot, best buy and target. our isting home sales will get a snap sh of the hsing market. we get the minutes from t october meeting that will be released. on friday at 12:0miosoft will launch the xbox one. finally aoyally goodafety net. prince charles the future king of engla turned 65 this week. thanksto that milestone and his
good morning. severeeather wning. millio of aricans from mississippi to michigan in e path of potentially deadly storms today including possible rather november toadoes. bullying in college football in the wake of the miami dolphins scandal a rutgers university footbl player claims a team coach verlly abused him so much, he had to quit this morning his mom i speakin out. hairy's big advenre. prince iry, once known as the party prince, now off on a very serious mission with a group of woded warriors. th begin aong inspiring journey tohe south pole today, sunday, november 17, 2013.