Transcripts For FBC Cavuto Coast To Coast 20240622

In his heart. And enter barack obama who questions his seriousness. Take a look at this. 18 months im turning over the keys. I want to make sure im turning over the keys to somebody who is serious about the Serious Problems that the country faces and the world faces. All right. Well, obviously president obama doesnt feel that trond dump is serious on these and issues my feel here as weve said many times is not debate the messenger or what you think of him but the meng because that my friends is resonating with the Republican Base that finds the established candidate will appear off base or boring. Now, that doesnt mean that this holds forever. But what it does mean is donald trump is not a flavor of the month or flavor of the week that he could have some considerable staying power thats not being appreciated by the Mainstream Media and dismissed by his rivals in the republican party. And these polls are true that one donald trump has to be taken seriously but they do not take him seriously. They dismiss him as a freak, you know the drill. And he just keeps getting stronger in the polls. What do you think of that yeah. Its quite impressive. And i do think he has some staying power. I dont think hes going to be the flavor of the month. I think hes going to do pretty well in the debate. You know, people are upset at washington d. C. And politicians who like to tightrope positions, and they like to dodge questions. And certainly donald trump has his talking point. We interviewed him recently, and he talks about what he wants to talk about. But hes very plane spoken, got a great retail politician, hes comfortable in his own skin, and certainly that was something that other people on the president ial campaign trail, mitt romney being one of them didnt appear to be. So i do think hes going to be hes going to be in this race for a long timing. One thing, neil, he has to approve on hiseadtohd withilla clion,ute id,eah,llmprove ts mbs eah,e do tra hilry clinn rit no andve bere srs by a ai rgin here, certainly with bernie sanders. But one thing i noticed in the Mainstream Media, his negatives are pounced on by the Mainstream Media around 52 . But her negatives at around 49 are ignored. Yeah. I definitely think when you have these poll numbers, you have to respect them, and thats definitely true f honestly are doing too much predicting about whats going to happen. You dont know whats going to happen. We have no crystal ball. Who thought that broadcast when you interviewed donald trump about that you know anger and whether he would bolt from the party and im paraphrasing here, yeah, i could bolt. You would think that would boomerang on him just like the comments would or the mexican comments would and it would cost him indealer. Any prediction how this is going to be the end of donald trump that has born out, certainly not yet. So he has a bit of a he is a politician at this point and a lot of his draws that hes not a politician. Hes very different, i mean giving out Lindsey Grahams telephone number. Whos done that before or anything like it . But do you think thats the kind of stuff do you think thats the kind of stuff, bob, that does eat away. The people of this stage are open to a eocentric kind of candidate much they were to hermon cane in prior elections. And then they think bad of it or the candidate himself does something to undo it. What do you think i think thats partly true certainly that there are some Republican Voters in polls when were so earlier. Yeah, theyll say, yeah, im for cane or michelle. And some of them are saying, yeah, im for donald trump now. But when they go to the polls and vote, thats the moment of truth thank you, robert, always a pleasure. Thank you and my money money on the theory that donald trump is very comfortable with his wealth. Hes very comfortable who he is and he kind of relishes it and says im rich. And he can buy a pulled pork sandwich for 1,000 people in iowa. My next gentleman has had pulled pork. Am i a huge fan of it face value, but sometimes it can be delicious. But im telling you what is helping is his money and the fact hes embracing his money, hes not afraid of it, and it does give him a couple of advantages. He can buy and sell his enemies. Whether or not he made money he would be making enemies. The other idea thats helping donald trump is this great comfort he has the point about boasting, but it does bypass a lot of the nuances he has to deal with, you know, alike. What do you think listen hes comfortable with his money, comfortable in his own skin as he pointed out. But heres the problem with donald trump. Hes not thinking like a politician. Thats going to help him early on. But when you get to the crunch time okay . Not thinking like a politician is going to hurt him because hes going to have to talk about policies, hes going to upset a portion of the people that dont like those policies. And once that starts to happen, then the real rumble starts. What if he keeps it simple, im a rich guy, im simple, dont bother me about the details, boom. Boom. Boom. Thats what hes going to do because its a no lose situation for him. This has been in my view a brand building exercise for him pop to take his brand to the ultimate, ultimate level you dont think hes serious though . I think hes serious in the notion if i win, it would be great. Im in the white house. But i really do believe that this is a brand building exercise for him. And guess what his brand is . Im rich. I disagree with charl on this because about three months ago i met with donald in his office and had this conversation with him and i said, hey, the white house residents residence 5,400 square feet, youre for a living that upstairs. And hes adamant about it. Hey, anthony when i announce, im going to race to the top of the polls. So he has been right about this stuff. Hes a salesman. I think hes very serious, and i think hes giving numbers that he find confirm it do you think hes going to campaign in every state . Do you think hes going to set up operations in every state . The argument transitional route to go. Scott Walker Campaign is taking donald trump very seriously. So when people say that there are republicans out there that are not taking him seriously, they are taking him seriously. Donald mentioned that scott met with him, he did meet with him three months ago. I guess there was a donor that went after donald trump, Donald Trumps signature piece as he catapults back after finish that goes after him. But scott walker didnt go after him. And, by the way, scott walker, understand to get his reaction out of all of this, and ill be talking to scott walker about this whole fortunately and whether youre nervous back. Im not. I spoke to scott this morning, these guys are taking him seriously. And he helped scott walker. When youve got 15 to 20 candidates and i know donald is smart enough to go to somebody saying give me 10, 15 more percent of the vote and i get on that stage. You get those three wedge issues, which hes done, and youre automatically in the race when theres 15 serious candidates. And thats what this is about. But but who. Step back guise. Something just came in thats interesting and could affect things. Three Public Workers Pension Funds are suing new jersey for billions of dollars to breach contract when it contributed less than planned. Of course this is something that the Court Allowed governor christie to do at the time. But they are claiming breach of faith, a breach of contract, and theyre suing for billions of dollars. Now, christie could use this to advantage by saying i risked this stuff by taking on the union and realize that the greater good is to look after the people to pay the bills from a fiscal standpoint, its pretty messy there. Now, hes done a good job in this sense. In the sense that a democratic legislature, a real basket place that he was left by your buddy. But but the reality is that when you start focusing on new jersey, that something is going to say, well, whats the unemployment right at any rate . What do you think of the media the way they pulled back the crowd to provide pulled pork sandwiches, which is the only way he could get a crowd. Its the only way we could get a crowd, i tell you that thats a dumb assertion. Wouldnt you want to hear donald right now . Yeah. And pulled pork is just an added benefit i like pulled pork, i make it at home, by the way you do . A little crocker, and it takes hours. Five hours. I think the only way hes going to get blunted this is a middle class meal, by the way they dont serve it yet, but you keep bashing me, im going to go to frank with pulled pork but youre not wearing with your guy. Bottom line bottom line once the policies come into play, i think theres a way to blunt donald trump, but hes been very successful so far. And youre not one of these who doesnt take him seriously. I take him seriously but a great risk on the opponents and the Mainstream Media hes the best marketer that ive ever seen okay. And when this is marketing you like him, you know him well. Do you like him . I believe of. I like him too. Dismiss at your own power. He hates you. He does not hate me but then who doesnt. Hell be giving out your phone number. And ill be talking to scott walker about this because trump has just now turned the guns to scott walker. Up until now he he was left out of this and scott walker will be talking to me on your world on fox news later today. In the meantime you probably heard that the chinese stock market was hit at 8. 5 . Thats the way for the government to say were done. Were out of here. See how thats going. After this everywhere you look, it strategy is now business strategy. . And a partnership with hp can help you accelerate down a path created by people, technology and ideas. To move your company from what it is now. To what it needs to become. All right. This is one of those developments that could help Chris Christie or hurt him. Three Pension Funds in the state suing new jersey billions of damages. They essentially claim that the state breached a contract that they thought they had with the governor at the time for some concessions and give backs in exchange for the governor to continue to fund the pension. What happened of course is a little over a year ago the situation changed in new jersey, the money wasnt there, and the governor couldnt do it. They took their case to a judge, who effectively ruled in christies favor and said, well, he was he was not going out of bounds or keeping or not keeping with his Constitutional Responsibilities in doing that. They have argued that a deal is a deal is a deal. They find it offensive and that they are now on offensive. The governor could use this to his advantage. This is what i have to put up with. Fighting public unions and their demands and how theyre draining our system. So it could play well for them. For those in union household, and this is a largely expected move. Some of those state pensions are going right after the die who they say compromised their financial security. We will keep you posted. In the meantime keeping you posted on the fall out from that huge deficit of Chinese Market. Right now were down about 129 points of the dow. We had been down a little bit earlier and down l ls as ll. T ts flowi thehine maet,he shanghai more theoi colpsmorehn 8. Rri llisnd wts ing on there that we should Pay Attention to here. Gerri. Right. The market down 8. 5 , thats a shanghai composite index. Thats the chinese index. Thats the biggest drop since 2007. Huge move lower. The support that the government has been giving the market there doesnt seem to be making a difference. Now the government saying theyre going to do more. So far the government hasmarket. As you know, neil, small investors in china regular mom and pops invest in this market. They are getting killed here. And of course its important to us because china is our number two trading partner behind canada. So it matters to us what happens here. Its impacting your 401 k . Your investments today all because of china. All right, neil, thank you very, very much. And this is weighing on a lot of u. S. Stocks, the chinese trading in the United States. Bottom line here is it comes down to this. Have you ever noticed a trend when a government anywhere noticed its stepping back, there is hell to pay in the case of our federal reverse when it stopped all of this quantitative easing and buying all the bonds and threatened as it will this week to stop these ridiculous low Interest Rates and stop rising them. China of course is a very different case but the idea being that the Chinese Government has effectively said no more. Were done with this. Now you can over read that but obviously sellers did not today. Thats why they pounced on it to market watch gary and jack on what happens now. Now, jack, what do you make of the reaction was to what the Chinese Government was effectively saying . Are they pulling back or is this a way to warm the markets, cool it . Well, actually as it turns out, theyre not pulling back, theyre moving towards it. I think they Just Announced this morning theyre going to be buying more chinese equity. So, again, its a very manipulated market, its going to continue to be manipulated until we get more stability in the chinese equity market do you think that response, jack, was in response to what the markets did . In other words, every time they toy with this, whether its margin requirements or the like, they regret it so they come back saying dont worry well still be here yeah. And i agree. And, again, its you know, its not just chinese china. We have manipulated markets almost globally right now. But i think an important point, though, is to differentiate the Chinese Market from the economy. The chinese equity market is a little bit more of a casino, youve got a little bit over 8 of the chinese populous has exposure to that market. Its up from 4 from last year. So theres a lot of new money. The under lying economy is going to trade a little bit differently than the chinese equity market do you read into this, gary, that its another reminder any time a government, even hints that its backing off markets to sell off and now theyre concerned that all markets are at the mercy of government that either help out or dont when governments are used to intervention on a daily basis and then they back away, theres going to be reproductions. Its as simple as that. You can go back here when the printing money, they did a second round. Markets which up. When they stopped that, markets got hit, and then they did the big enchilada and now the markets got going done gwen. Now were in a situation where markets are deteriorating by the day. As far as china, too much intervention, forced team people in with too much margin. Now theyre telling people you cant sell which creates more panic, and i dont know what word im going to use, but it usually ends badly when all said and done gentlemen, thank you very much. Were monitoring it closely. In the meantime the president in ethiopia today said theres no factual argument that anyone has presented a fact of why it would be a good idea to reject this deal. Not one fact. Now, i came up with 13. 13 facts that have transpired that at least pull the question. After this i have not yet heard a factual argument on the other side that holds up to scrutiny all right. The president was talking about these who are opposed to this iran deal. Now, im not here to cancel or speak from the rapport democratic viewpoint. There are a couple of facts here that we already know that at least bear pause here, and thats the iranians themselves saying all the sites that we say are open for inspection are not open for inspection leaving aside that they still think that the United States is the and the agreements also include lifting all sanctions almost immediately and there are two very different impressions of this deal. So to assume that there are rival facts going on here would probably be an under statement. Republican senator from the committee what he makes of it right now. The. Saying to dismiss or reject this. You say what . Thats certainly news to me. A lot of us who looked at the basic framework of the deal have some real concerns with it, including the fact that there are side agreements, side agreements that make it far too easy for iran to cheat. Side agreements that make it very easy to avoid real inspections from the iaea with respect to many potential sites out there all right. And, by the way, we should also prei say that online the white house is saying there were no side deals. If that was a fact when there were side deals i just understood the term. Look, this happens on the republican democrat demonstrations. I will ask you whether you think the votes right there in the senate. The 67 you will presumably need to override a likely president ial veto what douse i cant to think 67 yet, but that doesnt mean between now and september we cant get there. The more that people look at this deal, they see its full of problems, full of flaws, it doesnt require iran to disclose their past breaches of agreements. How do we know that theyre going to comply with this deal when we have reason to know it hasnt in the past. So these and other reasons give us great pause and opt to convince the senate and the house overwhelmingly to reject this deal do you think the president is using a strategy with you guys. I mean you have called in to question some of your colleagues and their inability to muster up the votes to reject funding for planned parenthood, for example, and attach it to other legislation. And got nowhere on it. And much because your leader, Mitch Mcconnell stopped it. Is there division in your ranks so to the point that your colleague ted cruz told mcconnell a liar there is division, but theres Division Within any political party. Theres always divisions in medical parties often resulting from the gaze baste and the Senior Leadership of that party. But we are united on most principles. On most issues, i think we agree that weve got a government that is too big and too expensive and that it needs to take a more reserved roll, a more constitutional role in our society. Always good chatting. Thank you, sir. Thank you and former congressman now running for senator in pennsylvania. By the way, on this iranian deal is in favor of it. And good to have you. The president is great to be back with you, neil, same here. Do you think the president overstepped it to saying the opposition couldnt point to one fact that would block this deal . Thats a bit cavaliered, dont you think . Well, i think there are some facts that you have disagreement on on this issue. Look, let me tell you the military man i didnt support this cautiously, but i support it. Within 2003 days of today, you know, neil, that the iranians can have enough material for a nuclear bomb. This sets them back for one year. But weve got to follow what president reagan said. Verify before trust. What if we cant well, today we have the ability to see if they can cheat or not. Now were able to have scores of people go into each of these facilities that we suspect and know have it. Our intelligence improvise. But heres the key, neil, we are letting them that these facilities that theyre watching and inspecting, i mean there are some things that they say are doubtful that are going on and we take the iranians at their word that this sort of thing is going on there, but we have no way of knowing. They could be running out the lock oclock with us. We could be pushing us and doing what the North Koreans did to us. The facilities that we know having related and involved in nuclear material. We have in the agreement permission to go in and which you know under 300 feet of hard rock that we cant take out, at most when we do our strike, we dialogue it for three years. Now we can go right into it. Now, if we suspect that the president of iran suddenly in his home it does have a Nuclear Capability starting to go up, it will take a couple of weeks. About 23 days in a process thats dominating by western powers sog in. And if they deny it, you know, thats what the manipulate option is always it isnt on the table. Maybe the option is to refrees sanctions but at that point, theyve got that money, and theyve got potentially tens of billions of dollars worth of money essentially from european colleague who will lift sanctions immediately. I guess what autonomy i asking you is that is it fair enough to say and do the facts not bear out certainly with past behavior that the iranians are pretty good at lying, pretty good at moving stuff around boy, ive operated with irans navy when i came from the persian gulf. Do i trust them . Heck no. But remember this. President reagan made the similar treaties with the soviet union, and we caught them cheating several times right. The issue is this. Were going to dilute the uranium so far down that it will take them a year to get back up, and if we catch them at that time, the military option is not on the table. We cannot let them get a Nuclear Weapon for our security or israels security, and thats whats good. I wish we had more time, but i did want to be clear as someone who has served this country with great honor. Do you fear that they have a different interpretation of this than you do . That they the things that we extensively agreed to, the irans are now saying, no, thats not what we agreed to. Normally when i when i see two people coming out of an agreement fugue what they agreed on, i get nervous, do you well, soviet union and president reagan and nixon did the same thing. It was always this difference of opinion right. But, look, heres the issue. This is why this discussion is great. Look, i know that if we do a strike, and, neil, you know this. Theyve got 22 submarines that we cant find with our sonar. Hundreds of missiles can rain down today on israel as well as our troops there. We can strike them. But before we do that, feminist, and we will. Lets see if they are cheating. And if we can if we catch they believe im not going to trust them. Then we have the military options as well on the snap back on economic sanction. This is a prudent but cautious step forward. Thank you. Good seeing you again. Good to be on. When we come back here, apple is going to best buy. Those apple watches, you can buy them at best buy. Maybe that could be a good thing. And maybe it could be a bad thing. I have nothing against best buy, but the idea was to skew Something Like this when the lots come out. Whats next . Vendors on the street . After this so youre a Small Business expert from at t . Yeah, give me a problem and ive got the solution. Well, we have 30 years of customer records. Our cloud can keep them safe and accessible anywhere. My drivers dont have time to fill out forms. Tablets. Keep them all digital. Were looking to double our deliveries. Our fleet apps will find the fastest route. Oh, and your boysenberyy apple scones smell about done. Ahh, youre good. I like to bake. With at t get up to 400 dollars in total savings on tools to manage your business. Hi. Hi. Hello. Hi. Hi. Hi. Hi my names josh. Kelly. My name is raph. Steve. My name is anne. Tom. Brian. Krystal. And i am definitely not a robot. Im one of the real live attorneys you can talk to through legalzoom. Whether its for your business or your personal life, dont let unanswered legal questions hold you up. Because were here. Were here, were here, and weve got your back. Legalzoom. Legal help is here. With all the news on apple and the earnings, just how many many of those apple watches did it sell . Some say as little as 1. 4 million, some as many as 5 million, but then we get news today that apple is going to start to selling these watches through best buy. Nothing wrong with that, but certainly a different market than the one you would think for these watches because it was going to obviously push in an upper tier. Best buy doesnt strike me as tiffanys, but it could be down the road. So that immediately got a little bubble in my head thinking that maybe apple is desperately trying to unload these things. The apple watch will do okay. Not across the board, but im looking at this and thinking best buy . What do you think yeah. It feels a little bit weird but recently we were just talking about the fact that these sales had tailed off and the apple watch come out, the addicts buy it, the crazy tech people, and then it falls off the chart and then the regular people buy it at best buy. So the way to reach these numbers, sell it to best buy, broaden the market but they dont do that with their computers all the time. So is there a fine desperation there . I mean best buy is the land that time forgot. Have you been in there recently of . Its apocalypsic, and they paid a lot of money for bringing into your job is to sell the apple watch. And the choices that shes made are erratic. You could go to the store and buy it, and then you couldnt, and then you could, and now its in best buy . It doesnt make any sense. I want to know in other venues, is it in walmart or anything like that . I know you can get those, maybe not immediately fresh from amazon or what have you. But is it widening the Playing Field for these things or no . Well, they are in the luxury boutiques like paris and london. But this is a stupid move. Its a horrible move. Kills the luxury, perceives the image, it decimates it, and its a desperate signal, which suggestions that theyre market isnt luxury. Its mainstream. Which we say that the average person is interested isnt a techie, isnt a luxury person its the average person all right. But its the apple watches that are being featured at best buy; right . Its not the gold ones and all of that. Yeah. So im just saying are they just finetuning it, these are our people, this is the market, and we think this is the proper venue. Apple cant have a huge success if they just put it out there as a luxury tomb item. Look at the ipad, its broad. A broader market. What theyre theyre trying to just rally at this point. I dont think they saw the sales that theyre expecting with the apple watch at launch, so theyre trying different things. For brand, but from a quick money making standpoint, probably better off for apple long term its a workin progress, do you buy that theres no software for it, so sooner they can release, they have. And developers have had time with it and what the technology do, what is it designed to do for a human being . It will get more interesting. However, their retail strategy is flat out embarrassing. They have managed to eclipse overall sales of other players didnt i combined. So they could argue by that math theyre doing okay, thank you, what douse . I say its a small market still, this is not going to be a big hit, ive said had to tv with fox, et cetera. I believe theyre shifting strategies, moving away from luxury as you said and i think its a desperate move. Will they sell . Of course, but its not going to be what everyone thought it might be all right. I want to thank you all very, very purchase and as were chatting here, we knew get a confirmation 15 an hour wage will be the rule of the land. And a lot of other minimum wage workers in the state are saying hello . What about the us . So already coughing big beef, no upon intended. Whos buns get kicked as a result . Im done with these. Thats rather childish. Much more after this we live in a world of mobile technology, but it is not the device that is mobile, it is you. We are back with a business alert, im connell, and if you had hopes of boston hosting the olympics in the year 2024, looks like your hopes may be suddenly fading this morning because all of a sudden the boston mayor announced a news conference, and hes did not going to cyber a host city contract to host the olympics in 2024. And whats interesting about this is he did it the same time that the governor of massachusetts is meeting with the committee. So it looks like, you need the support of the governor and the mayor, so it looks like another city may be hosting these olympics, like torrent owe or roam or maybe nairobi, which is interested in the Undercover Police officers 2024. And it doesnt look like it will be boston, and the reasoner mayor walsh gave is interesting. He doesnt want to spend taxpayer money. In fact, hesa hes not signing an agreement thats going to hurt taxpayer money. In the meantime when you get up to speed on the new york board of what it has done in new york state. Finalizing that 15 minimum wage. Heres the thing, though. It would only be for fast food worker. This does not include other workers. But you can please forgive that fast Food Industry or the Food Industry or restaurants in general for wondering whether theyve got a gun at their head again. And paul on this. What do you think of this . Its 15 in a couple of years. In a lot of cases that effectively doubled the federal wage and the new york state wages, which is already running north what the National Average is. Thats more than just a little bit of a hike. Well, neil, first of all, great to be with you and the notion that we in our industry or in the franchise or restaurant side dont wish to acknowledge respect and appreciate our internal guess, our employees with the equitable wage and quality is erroneous to assume that. However, in this case with the new york just doing it, they formed the legislative board that didnt even include anybody from our industry. And what would be a fair approach to raising the wage. And going from as you mentioned from 7. 25 to 15 and not acknowledging that the franchisee, although he waves the flag of the brand is still a Small Business owner that will have a negative impact of the constant increases and the cost of doing business. You know, its just not a fair and equitable way now, i remember when you were last with me you were saying you were open to addressing this down the road, but i think where you drew the line was the 15 was a bit drawing but now theyve added this over time, that kicks at a much higher level now. Exactly. And youve got health care law. Now, whether you support or oppose any of those features add johns, theyre big add johns for you guys. Yeah. And im wondering what you do as a result. How you have to shift things around to adjust to these new realities. Well, again, its not just the wage issue thats being discussed here. Its really the antibusiness policies that are going into effect that will have a an impact on the franchisee or the owner of any business. But the person thats really going to suffer is the people that we fire the most, which is our line employee. The people in the back of the house and the front of the house. For new york just to focus on fast food . At the exclusion of all the other retailers, its just not fair. I wish we had an open dialogue, not a monologue, how to agreeing these aggregates to the business. Its not saying we dont want to pay a fair wage to our people. We do. Theyre responsible for our success. But let us lets do it at a fair and equitable way so that we can come to a solution that can be faced in over a period of lees years to get the Playing Field level again. What you know whats interesting that you would be forced to pay 50 to your workers, the deli next door that would be making a sandwich for them still have the prevailing rate. Its weird. Exactly. And so many people missed the dynamic between the franchisee and the franchiser. It is, in fact, a Small Business owner. Hes trying to keep the jobs. Unfortunately, its falling on deaths ears. Yeah. Exactly. Thank you very much. In the meantime, though, i know im going to get these emails and comments as if, by the way, like, do i look like i go to fast food . Anyway. Anyway. Think about that. Think about that. This is a industry with property margins compared to all others, so were focusing on this industry maybe because its easy. But no one has voted on this. Its just done by committee, by governor, and it becomes the fact of law. And i want you to step back from that and take what happens as a result to boston then has to reconfigure schedules, counts how many are working, automate more. When these guys are saying theyre open to a higher wage, its okay to double it, but its not coming out of your high. Is that fair . Is that balanced . You decide. In the meantime Fiat Chrysler is getting hit. It is now paying a huge fine for doing something that we are told should have been common sense. What took you as long as . After this can a business have a mind . A subconscious. A knack for predicting the future. Reflexes faster than the speed of thought. Can a business have a spirit . Can a business have a soul . Can a business be. Alive . Having a perfectly nice day, when out of nowhere a pickup truck slams into your brand new car. One second it wasnt there and the next second. Boom youve had your first accident. Now you have to make your first claim. So you talk to your Insurance Company and. Boom youre blindsided for a second time. They wont give you enough money to replace your brand new car. Dont those people know youre already shaken up . Liberty mutuals new car replacement will pay for the entire value of your car plus depreciation. Call and for drivers with accident forgiveness, Liberty Mutual wont raise your rates due to your first accident. Switch to Liberty Mutual insurance and you could save up to 423 dollars. Call Liberty Mutual for a free quote today at see Car Insurance in a whole new light. Liberty mutual insurance. Neil do you know if youre falling following this Fiat Chrysler thing, whats amazing to me, its going to have to recall at a minimum 500,000 different vehicles. Maybe more. Including ram pickup trucks and all of that. Only because it wasnt warning the public they could catch fire and what have you. And on when recalls take so long that ultimately the feds get involved and say whats going on . Connell, whats happening here . Well, jeep care key, that goes back to the 90s . Yeah. Neil so record fine; right . Its 105 million in fines and penalties, the highest ever handed down by the national highway traffic administration. More than the toyota one. Yes. Neil wow. Okay. It is. They are. They have to submit to three years of i want sight. They have to buy back half a million vehicles, mostly dodge ram pickup trucks and cincinnati to fix a million or more jeep had hurts the state economy that it hurts paying jobs because most oil joyces are higher paying than other sectors. Consumers do benefit overall if we can find a real sweet spot. The technology and youre attracting some very Big Companies and going to rick perry left, and trying to move that business from his republican and the democratic colleagues. But now a lot of them saying despite it being cheap to do or cheaper to do business with texas, a lot of them are saying uhoh. A lot of people pulled back. They learned from the 1980s a lot of old industry pulled back as you mentioned just a second ago with the Service Industry theres a potential for more job layoffs. But at least beneficially for texas, we have such a diverse economy people can go to work and to trade sec stores, manufacturing, professional services may not be quite the highing prices but at least in texas were benefiting from the much more great diversity than we had in 1980s but lower prices is a major concern for our state. I think it was adequately stated that it is a concern for the whole u. S. Economy. Not to put politics with this. But always been a win of republicans here, the fact that texas almost seemed recession proof an slowdown proof an now shown that yeah it can be vulnerable. But it can be a Seismic Shift politically in the state. Im not so worried about that with the Controllers Office what are numbers, what are facts in oil thats what my office is. That is what were about trying to make sure we project what the economy will be and lay out accurate numbers. You have still over 500 people move to texas because it is a business friendly state. Time of year when it is 100 degrees . And big mosquitoes. They can yeah, exactly miniature birds. Theyre big. But the fact is you have a lot of people move into the state and part of that is because of the business incentive pipe driven economy that we have. Women it is a beautiful state and its a great you know, summer time a little bit, hot, a little hot. Very good, thank you. Well were looking at the nasdaq down with averages what have i told you so much of the fortune depends on half a dozen names. Half a dozen names is that too detendent but six specific names. Jo ling kent on that. Joling. Calculated on nasdaq that make up half of the gains on nasdaq which is up about 7 this year were talking about apple, amazon and google and then we also have gilead, netflix also facebook there which is reporting earnings later this week. So you see a pretty serious jump 122 there on netflix. Nasdaq right now if you look at the gains so far this year, alone apple amazon and google are responsible for 37 of that gain. And then you see, of course, o you have a 332 billion from six companies. So theres a question among analysts right now with why isnt this growth across the board more broad based neil, why is it companies driving all of the value, is it something to be worried about . What does it mean for your portfolio so were digging into numbers but several of the Companies Reporting earnings and see the stock change quickly. And history suggests like you said that sometimes too dependent on a given industry can come back to bite you on the hiney who knows that better than our charles great markettist. Besides a show, great host. He does everything here. Charles im looking at that saying these names today. It wasnt too long ago it was biotech and oil, and we wrote at a time in and out of this stuff to our danger. Sure, if this is why we preach, you have to have a balanced port portfolio, but the are other things that dont go well. Theres no doubt theyve been the ones that have led the parade but back to the 70s they have the nifty 50, and spots but always been a few names that have worked and Momentum Works in our market. Hard fact that Hillary Clinton believe it or not her quarterly capitalism speech on friday, people are so shortterm orr yentsed in the market. You know a few decades ago. On that point she was right. Few decades ago we held stocks for six years now less than six months everyone is chasing performance including professionals thats where it gets dicey. You look at funds i look at funds all of the time they send me portfolio to have different names and then they have the same stock so greats frontier fun and global fund doesnt matter. They just put a different sticker on top of them because everyone is afraid of missing out. I asked row to look at it you know, discreetly. I gave you and you werent supposed to share. Im sorry. I thought when they say to talk about neils portfolio but youre right on that question tend to do that. But what do you think of investor i hear what charles was saying and then what hes saying just saying under the longterm, youre absolute things go up, down, cant beat the markets blah blah it is tough to beat market if youre filling stocks at a loss. Okay what i mean by that is gite all of the hoopla and amazing gains on netflix, amazon google, in the last year half the people watching the show took a loss on those stocks. Why . Simply because a stock was down. Same way they chase the upside they pan toik the downside this is why chasings does not work for average american. Own Great American companies what you walk out of that store if yowpts to call up five friends and family members tell them how great it was that is aol used to be Great American but it wasnt. First that knew that was the consumer. I. E. Stock holder better example. Over last four years coach five years ago every woman had to have coach it was aspirational on your way up as you made more money you bought coach. And then michael coarse came around. Two years before wall street average woman who goes to a mall. I knew i had one in my family say dont buy that and never coors again. Viewers know so much more than wall street does sooner but never been so disconnected or dont correlate that with their own stock. Trchg they dont. Listen how many download netflix but dont use it or ogee the stock. 98 who use it dont use the stock. Last week it was profit of amazon, netflix i love these names at a cheaper price. Interesting. Very interesting. Charles thank you. Never share this stuff i tell you. [laughter] but when you told me to look into the new behemoth fund you got it wrong. When we come back we talk about china whatdoing to prop up his markets and why market was down so many of there. But everyone gets hearty and arrogant saying good thing we dont do that. Yes we do. Yes we do, after this. And the wolf was huffing and puffing. Kind of like you sometimes, grandpa. Well, when you have copd, it can be hard to breathe. It can be hard to get air out, which can make it hard to get air in. So i talked to my doctor. She said. Doctor symbicort could help you breathe better, starting within 5 minutes. Symbicort doesnt replace a rescue inhaler for sudden symptoms. Symbicort helps provide significant improvement of your lung function. Symbicort is for copd, including chronic bronchitis and emphysema. It should not be taken more than twice a day. Symbicort contains formoterol. Medicines like formoterol increase the risk of death from asthma problems. Symbicort may increase your risk of lung infections, osteoporosis, and some eye problems. You should tell your doctor if you have a heart condition or high Blood Pressure before taking it. Grandfather symbicort could mean a day with better breathing. Watch out, piggies child giggles doctor symbicort. Breathe better starting within 5 minutes. Call or go online to learn more about a free prescription offer. If you cant afford your medication, astrazeneca may be able to help. Tand thats what were doings to chat xfinity. 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L you know, yrn you hear a lot on china, and what is going on in the extreme swings big one this morning 8 and a half percent that is equivalent of sliding 1800 points on a single day asking neil what is going on in china. The big issue here is whether it is an overly leveraged society where they borrowed too much to buy stock, and very few individuals participate in that market. But those who do leverage to the hill, and now back in america, it is trying to put numbers to that leverage. Saying that plench that leverage that is on chinese stocks is more than double what you might expect exceeding 3. 37 trillion one, that is their currency. If youre buying theyre borrows off proceeds to buy more stock. We have is liberal trading rules on this that if you exceed that or value of your investment goes down as a result you have to sell more shares or just pray. In china what the government is done is essentially ease up on margin requirements, an try to get investors past the real hoop here. But the reality is, according to bank of america again only bank of america saying this right now. That it is a lot worse than government is saying that is propping up is a lot worse than government is admitting that a lot of people are just borrowing to the hill to keep this puppy going. Dan mitchell has been talking about about this for a long, long time. Not necessarily saying that everything china has turned out is a lie. But it is a lot of assad going on here. What do you make eve these latest revelations . Chinese government is making a big mistake in prevents prices from going to their market clearing levels. China has had a problem that may made Economic Reforms few decades ago but a state driven economy. They only rank 115 out of 152 for economic freedom. And their Financial System is very nontransparent with a lot of government own od companies and socalled prince getting favorable treatment so nobody really knows what the price it is are. Nobody trust the Financial System and having the Chinese Government come in and try to prop up it. It is going to extend pain and cause more uncertainty. You know ive noted to viewers to talk about this. But my market has been maybe because of a contrary i have parish or wonder i turn both. Heres my qualm with china it is too pest. Growing at 10 , 13 a buyers market for anything and a everything. It was like i told it it was the john lovetts market thats a ticket. Were growing at 7 and then were going to make it. One lie after another. I didnt believe it and now i think that chickens are coming home to roost because the world is coming to find not only does emperor have no clothes but he never did, ever. It reminds me when i first came to washington. Everyone was talking about the japanese economy. It is a ticket. This is the way to go as you say with john lovett but john has been stagnant and emperors fallen off in china. Lets have a little humilitity and china will have stabilized but massive dislocation and political unease tharkd worry us for lack i welcome that to get through a lot of pain and they sort of unwean themselves from the government. Just as a i would welcome that here in the United States if we unweaned ourselves from the feds or the expectation to keep rates artificially low for a extended period of time. I think this global dependence on generous government has sets up a very, very anticapitalist is not on what i studied and i worry about that. Youre exactly right, if question suffered whether in china or here, from shortterm feign to get to an economy thats more balanced and more real, that would be good. But my concern and weve seen this with these european bailouts one bits of page in the short run leads to more page because governments are making the wrong choices that they want to prop up instead of let markets clear, and im not confident at all in china. I hope im wrong. But i just see government, politicians all over the world, they always want to go for the shortterm what appears to be easy fix but only at the cost of more long run economic pain and suffering. Thank you my friend great seeing you. I appreciate the input. Thank you neil. Only o i was daring to do the impression he has far too much class to try that. Speaking of class donald trump, were told now hes sold his ten out in trump park avenue for 21 million. This is the same one that is the same building he bought for 115 Million Dollars safe to say made money on that transportation but this was an apartment if it went on the market it would be rented 100,000 a month. Were tolding mcconnell closed that rental agreement but we can tell you that donald trump a man who probably doesnt need more money has 21 million more. On fire more after this. Were break on breaking news with cavuto coast to coast with nike and apple. Two companies have agreed to settle a Class Action Lawsuit that was brought by consumers of the nicki fuel band a fitness tracking device, it is like a watch or lookses like one that cost 150. Bottom line was it wasnt doing what it was supposed to do an may have been misrepresenting what a device that tracks how far youre walking on running. They get credit for one step that doesnt look right or bottom line reading from the statement here, they say that they were elected false misleading statements rarlding this fuel band ability to accurately track steps and calories among other items so it wasnt getting it right not good for somebody who had one eve these devices. Part of the settlement a refund a 25 nike gift card you can cash that in. Not keeping count for me if i had a hoagie and youre lifting that up and down it was not counting youre big winner in all of this. Good to know thank you connell very much. Were getting more details colin reporting on this transaction involving donald trump. Selling his New York Park avenue penthouse for 21 million. I didnt realized he never lived in the thing he never lived in. But the fact was 21 Million Dollars with a lease, you get 100,000 but someone is actually bought it for that 21 million. Now a lot of people are reading a lot into this and trump saying dont reach too much into this not using it for money for the campaign because he can use whether it represents a top in the market in real estate he has a lot of properties this was one of them ironically never used it, but he did buy that building in the penthouse he has no need for it. Imagine buying yourself a penalty house and saying you know what, honey we have never lived in the thing you 21 million. Richer for one donald trump. In the meantime, you have Jessica Vaughn following not his real estate transaction but the fact that the donald is the guy in the casting of characters right now leading all others, despite one controversy after another and your view is that its very tough stance on immigration thats doing it . It seems to be, neil. I mean, i think he has really touched on an issue that very many people in this country care about. People are very angry about the dismantling of Immigration Enforcement thats gone on under the obama administration. When he held that event with the families of people who have been killed by illegal aliens that touched a lot of people. So he really has found that this is a issue with striking to me is that almost none of the other republican or Democratic Candidates has realized what a powerful issue this is, and you know could tap into that to ride right into the white house. You would think when i talked to former governor rick perry of texas at least he has, you know, a a credible response to this, in fact a very controversial response when it is governor. He brought in 3,000 guards to go to the boarder texans expense to say and saned message, federal government wont do this. I will even someone like that that has been aggressive antiillegal immigrant stance is taking a backseat to donald trump on this issue. What do you make of that . Well, every american should thank governor perry for having been willing to devote resources to the border that the administration wasnt. But heres what theyre all missing is too many of them are willing to just focus on Border Security without talking about the lack of enforcement in the interior and most importantly overall level of immigration particularly legal immigration. And heres where it gets heres where i think he slips up a little bit. Because he when asked on this on cnn how far would he go 11 million or bad guys he said he would get rid of them. Didnt ascertain how many were bad guys when it came to building a wall he then revised to say it doesnt have to be the entire border although to be fair he never said that he would physically build a wall from end to end that it is a electronic sensor and other parts that arent doable. Nevertheless, to conventional politicians thats the inconsistency that could kill you. It is not done that to him. Why not . No, and again, i think because people are so frustrated at how abysmal Border Security is and enforcement but he didnt say about going after a the bad guys in this problem and that is employers who keep hiring illegal aliens which keeps them coming in. So the politicians who are unwilling to do something about that. So if he could find a way to be a little less provocative or other candidates could think this issue through, and do it in a way thats a little less provocative they would really tap into something among, you know, the whole spectrum of voters that people are krnled about that is not being addressed. Jessica i think you hit on his appeal whether you agree or disagree hes saying stuff that a lot of people have been waiting a long time to hear. Thank you very, very much confused messager with the message were not on one side or take. But remember what they were saying after donald trump made comments about racist and murders went up in polls. John mccain saying hes not really a hero that he would suffer for that, he is doing even better in the polls since then. Even among veterans. Better among that group. And what he goes after one entremplegged base after another and slims up something that would doom his colleagues he survived and his latest target, latest target is the Wisconsin Governor Scott Walker of whom he said wisconsin is a disaster. Whats going on there isnt real. And he has a lot of explaining to do. That other words this great story of taking on union and being tough guy who would be the role model for how republicans move forward, no less than donald trump saying hey, stop. Well youve hard what donald trump has said about him. Scott walker is itching to talk and he will first to us only to us on your world 4 p. M. Today. Stick around. More after this. Technology empowers us to achieve more. It pushes us to go further. Special olympics has almost five million athletes in 170 countries. The microsoft cloud allows us to immediately be able to access information, wherever we are. Information for an athletes medical care, or information to track their personal best. With microsoft cloud, we save millions of man hours, and thats time that we can invest in our athletes and changing the world. Usaa makes me feel like im a car buying expert in no time at all. There was no stress. It was in and out. If i buy a car through usaa, i know im getting a fair price. We realized, okay, this not only could be convenient, we could save a lot of money. I was like, wow, if i could save this much, then i could actually maybe upgrade a little bit. And it was just easy. Usaa, they just really make sure that youre well taken care of. Usaa car buying service. Powered by truecar. Online and on the usaa app. So were back on this business alert taking a look at very important story potentially involving washington and business, specifically the technology industry. Think about this question first, and answer you have to it as we run through the facts of the story. Is twitter responsible for finding every tweet that is out there from a potential terrorist . That is really the heart of the question in at new amendment being pushed that is called the intelligence authorization bill by senator Dianne Feinstein. Other Big Tech Companies the likes, twitter, yahoo , facebook, google the rest, would answer no, the answer to that question is no. Theyre not necessarily responsible because what if they miss one. Millions of tweets coming in and comes in from one terrorist, what if they miss it . Support feinstein would like to report on facebook posts or tweets from terrorists whatever they may be. She is pushing something out there with the laws already out there for child pornography, if an i am on line is pornographic, they have to report it. Neil, they say that is easier to find some of these terrorist postings which can be believe it or not, somewhat objective. Interesting battle between lawmakers and these companies. Neil to put it mildly. Senator feinstein went on to say, this provision, she told ap, this provision will help potentially get actionable information to the agencies responsible for preventing attacks without Companies Taking steps to monitor sites theyre not already taking. The same companies to connells point, hello, intrusion. Lisa booth says, she thinks governments strongarming companies is bad idea and steve says, safety first to the Silicon Valley concerns. Youre saying in the face of Dianne Feinstein saying she is going too far here . I dont think she is going too far. The Tech Companies, to put some perspective around this, have been helping with the effort against terrorism for over 10 years now and i think neil im sorry i wasnt clear. Last time you were with me you dont want to go too far here. These Companies Say she is, she sis. No, she is not. I disagree with that. In terms of, look what happened with 9 11. We had several attempts since then. We have all the copycats trying to impress isis and al qaeda with attacks. I think these Tech Companies have to pony up and do their part to help. I dont think, i dont think the Fourth Amendment was there to help people evade Government Resources with external National Security threats like this. Neil what is weird here, i have guys, liberal is literally saying go ahead and do this kind of stuff and the conservative, at least in your case saying, wait a minute this is going too far. Explain why you think is potentially going too far. As you already mentioned senator feinstein is not asking them to do anything theyre not already doing. Why do we need federal legislation to force them to do that if theyre already doing it . I believe these social Media Companies have a moral obligation to do their part to help but they shouldnt real legally be obligated to. This is the concern. Were talking about 1. 4 billion active monthly facebook users each month. Were talking about 260 million active twitter users. Were talking about millions of falsepositives they have to go through. There is sheer mass volume of neil i agree comes down to the companies leery about the legal obligation. One nutcase slips through. We later discover but you see what theyre saying . We cant be legally obligated for everyone of the billions of people who either tweet, email or say outrageous stuff. Exactly. Neil if we are, that will dry up business, dry up freedom of speech, you say what, steve . I dont think they will be held responsible if theyre get getting a best case effort to related to isis or al qaeda. Neil if after the fact if the government feels they have not volunteered the information over. Neil, here is the concern about this particular provision. That is the concern of the social Media Companies, they mentioned that the provision is way too broad and way too much ambiguity. It doesnt apply in the case a child is molested it doesnt apply to that i dont think it would apply to this i think theyre bringing up red herring here. Problem theyre doing everything they can to turn not over the information. They received a lot of criticism of users of twitter and facebook. So theyre trying to show that theyre fighting back against it. Neil bottom line youre confusing me and no one is understanding you. I think what youre saying then, lisa is, they can go too far, the government can go too far. Steve, youre saying that the government is not going to go so far as to force these Companies Legally out of business, right . If it is obvious theyre giving best effort, i think that is ridiculous. Senator feinstein said the social Media Companies are already doing this why do we need federal legislation to comment and legally put them on the hook . Were talking about 1. 4 billion active facebook users. Neil everyone raise as good point if this is already happening we dont need this. If this is happening we dont need this. Bottom line, neil, were not going to stop isis through social media. Neil i dont know. They start a lot of this stuff on social media. We need president obama to step up. Neil look at the time. Wow. Guys, thank you very, very much. Everyone is focused on markets what happens, god forbid, god forbid when the Federal Reserve starts hiking Interest Rates. I want you to meet the guy who said they create ad bubble already by not doing that. After this. Can a business have a mind . A subconscious. A knack for predicting the future. Reflexes faster than the speed of thought. Can a business have a spirit . Can a business have a soul . Can a business be. Alive . Hi mim raph. Tom. My name is anne. Im one of the real live attorneys you can talk to through legalzoom. Dont let unanswered legal questions hold you up, because were here, were here, and weve got your back. Legalzoom. Legal help is here. It is now fox business brief time. Im connell mcshane. Talking here on the show about wearables, the apple watch. We mentioned sales might not be so hot. Now as they expected it to be and now we have this new report out, we also have the story about nike a few minutes ago. New report estimated Wearable Technology payments will be growing big time by the year 2020. Payments for smartwatches expected to grow from 3 billion in 2015 to 500 billion in 2020. So, whatever you say about it now, this is a growing market. There is apple down 1. 71 or 1. 4 . The stock took a big hit after the Earnings Release came out after the close. It was down big. That is oneweek chart. Apple not only company in this game. We talk about it more like than we do the others. Android system continues to compete. More cavuto coast to coast coming up here in just a moment. Neil all right. This is the week of another fed meeting. Were going to learn maybe get more clues when later this year the Federal Reserve will hike Interest Rates. Betting seems to be september. May be a teeny bit, maybe a quarter point if that, would reverse essentially almost a decade where rates have been staying constantly the same but to hear this next fellow tell it, too late, guys. The fed is already creating a bubble by not having raised Interest Rates sooner and getting out of it will be a hell of a big deal. Tim kaine joins us, former economist to the house joint economic committee. Tim, very good to have you with us. Your view is too late, right . Well the data says its too late, neil. I think last week on thursday when the jobless claims were reported, reported every thursday, it was shocked. Historic lows, havent been this low in 40 years. I kind of felt like everyone was late to the party. If you look at relative to the size of the labor force it has never been this low. It wasnt this low in the 80s or the 90s, during all the boom times in the past. The economy is giving signs it is overheating right now. Neil or thes argue with your interpretation of the economy neil, i lost your audio. Neil okay. Then i will, i dont know what to do. I will just wait. Can we fix his audio. What i will raise were trying to fix that, guys. Contrary argument, tim, can you hear me . I will hit connell with this. He is up there now and can hear me. Connell, one of the things, tim, can you hear me now, maybe not. Im back. Neil all right. Connell stay there, dont move. Tim, the argument that we have other Economic Data that shows things are not so hot and heavy. New home sales came out. Wasnt so robust. Some surveys came out, youre right preponderance of the data is strong but it is not all strong and furthermore inflation is not all that much of a worry. What do you say to that . Youre right. These things come up later. Im looking for a broad america sure. Maybe one of those is gdp, not as hot as you think it should be. Gdp has never been this big. 17. 7 trillion. Unemployment insurance claims are one of the fundamental trackers of recessions. Right now were as far away from recession as they can. Neil they vary a lot week to week. I know the trend is certainly to your point, the economys friend i guess but what the fed worries about as much as it might rattle the market what is do you think of that as a priority . Yeah, you know the fed was so gradual, neil, remember how they raised rates under greenspan after 2004. It was always a quarter point, nice and steady. That was too slow, right . They kept the mortgage bubble inflating, year and years after they should have put a halt to it. Neil when should they have done this, tim . Obviously theyre going to do something later this year were told but argue should have been doing this when . Yeah. I think, at a minimum should have been in january of this year, right i would go back this year. Try a quarter of a point if world false apart or earpieces fall out. Try a quarter point. They could have done that to be steady. Now they set themselves to ramp up and not let off the brakes. Neil one thing i understand the conundrum theyre in, they have been trying to telegraph whatever rate hike will be gradual. Not one and done but well wait to see if were done. In other words this expectation rates would rise every six weeks at a fed meeting that might not be the case. What do you make of that . I think they have given, janet yellen has reduced the amount of wiggle room she has. Unnecessarily. So this is the first indicator, actually it is the second, right . Weve been debating Unemployment Rate for year now. Gee, is it really this low . Pot got Unemployment Rate. Job changes. At least steady eddie on growth rate. It is really overkill at this point. It is way too much stimulus. Neil thank you, my friend. Very good having you. I was going to go to connell mcshane. I go to connell to get his reaction to that. Connell that flies in the face of other folks that the fed isnt behind any curve. That things are just fine. To raise rates in environment would be counterproductive. I have always got the impression that the fed in telegraphing this move for so long pretty much managed the market expectation of it would be, that the reaction well see is so priced in, and anticlimatic by the time they come forward and raise Interest Rates that this dramatic Effect People are expecting at the time it actually happens i think maybe it wont be as much some of us seem to build up. Neil i hear ya. I hear ya. That is the expectation. The expectation tends to be wrong. Well see what materializes. Thank you very much, connell. We have a very big show here on the network called strange inheritance. This is very real one. The case of two daughter who is inherit 20 million from their dad that passes a way. But man, there are a lot of strings attached. Dont even get me talking about the wife after this. Approaching medicare eligibility . You may think you can put off checking out your Medicare Options until youre sixtyfive, but now is a good time to get the ball rolling. Keep in mind, medicare only covers about eighty percent of part b medical costs. The rest is up to you. Thats where aarp Medicare Supplement insurance plans insured by unitedhealthcare Insurance Company come in. Like all standardized Medicare Supplement insurance plans, they could help pay some of what medicare doesnt, saving you in outofpocket medical costs. 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Call now, request your free [decision guide] and start gathering the information you need to help you keep rolling with confidence. Go long™. Neil thinking of this one for my kids. A guy dies. Well to do guy. Has two daughters. Wants to leave 10 million, 20 between the two of them. Is not going to that be easy. Marry right. Have children while wedded. Not out of wedlock stuff. That is for starters. The wife he was going to divorce before he died, going through separation, gets zilch. This is getting great deal of attention because this is the stipulation the young ladies get their money. Dagen and 21 and 17. Yes. They keep get 10 million at age of 35. No strings attached, if you want it sooner, when it would be fun to spend it, by the time youre 35, i mean you might as well neil excuse me . Go ahead. They will get chunks of it before 35 if they follow some rules laid out by their now deceased father. Neil are the rules legal, connell. Life works. How life works. This guy is piece of work, this big real estate guy all over the new york post. 500 grand eachthey get married, right . Neil if they cant marry characters like say from isis. Right. Well, i dont know, what they would husband has to sign something he wont touch the money. 750 grand if you complete college from accredited university. The daughter has to write 100 word essay. Has to be approved by the trustees overseeing their dead daddys money. Neil the trustees are larry, moe and curly. Which is odd complication. You get incentive if you earn a decent salary. If the daughters have kids dont work outside of house, get 3 of the value of their trust every january 1. Three times your salary. Three times your salary is the bonus. Neil what if you exhaust your money by then. You can have a kid, get 3 of the trust fund but the, cant have it out of wedlock. Must be a certain limit, that your point on money . In other words if you earn five million bucks a year will neil if you do everything right do they get the 10 million in couple years . I think so. Based on this, it is hard to get to 10 million. Neil anyone is free to do with his or her money and have any type of provisos. You remember the millionaire left the money to the cat. The cat said, well, whatever. Everyone is free to do that. Why is the wife arguing now that they were in the process of getting divorced. She was left out of the will. Left her nothing. No. She wants in. Heres the point, youre trying to control your family after youre gone. Yes. After your dead, cold in the ground. If you raised them right, they would do right with your money. If you had been a good parent, right. Not a problem in my house. The kids spend the money now. Neil what i tell my kids, your mother around i spending all of your inheritance now. There is nothing left for you. It builds character. My parents, where did this wing on the house come from . Neil this guy is getting all sorts of grief doing this. He is trying to encourage proper, in his eyes, fiscal and emotional behavior. No, no. If you want to encourage proper fiscal behavior, dont give them anything. Give it to charity. Neil gave a lot of money to the michael j. Fox parkinsons he is charitable guy. He is not getting all that much grief. Neil there is that. You either, either you trust the kids, come on, either you trust the kids with the. Or you dont and give it to somebody else. Neil that raise as question we started reading about this, must be something in the girls past that gives him pause. Maybe they have had troublesome dates. My daughter dated some real doozies. Whose fault is that, neil, really . Neil that is hers. I will punish her until the end of time. Maybe the fatherss way of saying im dead, to your point. Exactly. I cant control this but i can incentivize you to make the right decisions, is there anything wrong with that. No. He is basically trying to make their lives miserable. He is lording it over them. He is control freak but really funny story. Neil do you do this with your kids . They spend it all now. Neil waste it at a taylor swift concert. I love taylor swift. You have to come around. You can hire taylor swift to play at any Birthday Party between now and age of 18. Neil i want to go to one of his little birthday parties. Well see how it works out. The mother is apparently opposing it. Have dagen follow it. So i can shake my finger. Neil exactly, with all of this drama, i dont think weve forgotten charts because i know it is very near and dear to a lot of you. We have our chart of the day. It is coming up. A correlation you never heard anywhere else anywhere when youre not confident you have complete visibility into your business, it can quickly become the only thing you think about. Thats where at t can help. At ts Innovative Solutions connect machines and people. To keep your internet of things insync, in realtime. Leaving you free to focus on what matters most. Neil why should cnbc have so much fun, what is castings selloff. S p 500, versus the Commodity Research bureau commodity index, uncan my, no . That as though Commodity Prices are falling the markets are falling. Scott walker on that crb index and what it means for humanity and whether he ever makes it to the white house, tonight, today, your world, be there. Heres trish. Trish thank you so much. Welcome to the the intelligence report, im trish regan. Concerns about a bubble in china ready to burst. China selling off 8 1 2 . Adding to the fears you see back here at home. Well get to that. First, president obama sounding off on the race for his replacement while meeting with leaders in africa today. He is taking aim at republican candidates including ted cruz, Mike Huckabee and donald trump. Listen to this. American people deserve better. Certainly president ial debates turn better