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Welcome the -- doesn't -- on my case -- Chris cutter Chris has his jacket on -- I'm going with about 1230.
It'll come off.
I think about what.
I'm Indiana might not have one they have I said one thing yet I I sense since that's -- sense that a -- you did in the AC up.
No problems -- think.
-- It's also -- -- Tracy.
I NIC Oregon I'm real -- if you're -- hot there's nothing I can do except add more.
And -- his permission I will -- I'm sure everybody is withholding that you would remove layers so I'm sure that's the whole.
Of course -- hands -- -- -- and I.
Crank up the heat -- How can still get cranking it up -- to go down here on the markets down 217 you always look at that what is yet when -- -- -- -- -- karma going and we always talk about the Carmine.
At -- dot com live -- we'd better get some right now because we're heading in the wrong direction we're actually as low -- about two and 65.
Points to the lower on the -- earlier in the early days so we're coming back.
A little bit but we need to come -- a whole lot more.
I've got to tell I think this is the last to do with Europe I mean I know -- and I'm Bonnie earlier this morning was saying it's a runup to the jobs number on Friday.
The market has been up.
You're community great point earlier that we haven't seen big swings were really long time need to see these little Beatty was April boarding or was it just my imagination yet was -- forty points up 32 points down you could not -- really you -- -- -- -- close over the market would have -- But so.
Now we got these -- we're seeing some big swings in you gotta wonder it.
This whole Messinger has asked him do that thankfully we have John Brown had a talk about the -- on on the.
-- we do and actually a causal Burton priced at about that a little bit right now -- little remote management group joining us out of Austin, Texas close welcome to the show.
Go what what do you make of what's going on it's not only today but really over the last you could probably say it's a -- with all these triple digit days up or down we got the vick's moving higher.
Well why so I think.
Well I think there's a lot of problems that people see an economy Europe's problem like you spoke about.
I think China is sort of scared people with with need to -- But all along we think that the Bristol bullish but we do you see some ball -- the short run and and and people might want to think about where they can take up volatility.
So for now they're visible to sleep yeah.
Right but so that what's explanation for today or is there -- -- is it more of this amorphous everything's coming to ahead.
Things are not nearly as good as we thought they where so were pulling back.
I don't think so I think that markets don't go straight up and when they do when they seldom do you know that's to -- of a bubble so I think this is normal in an uptrend.
-- -- -- Even with that said how are you play in this right now -- -- -- and maybe stay on the sideline a little bit though are you advising some of your clients.
-- stay where you -- maybe stand pat don't worry so much about the short term volatility.
Well we we try to tell our clients look at the short -- that -- -- long term in the short term is somethings that you can't control at all and so.
When people are worried about volatility we advise our clients' most of -- business owners to look at their wealth and three buckets and and the market bucket right in the middle.
Then the desperation a bucket on the one side and personal risk on the left to maybe move -- more to the personal side to be less risky if he's -- swing bottom.
But by and large were here for a long term and we think this is -- -- matter much.
So then what what's making you optimistic about the long term is it that the consumer I mean he's coming back a little bit is it.
Some notion that the government's pulling out and stepping away what makes you happy go on forward.
Well there's a lot of problems out there of course but they're all getting smaller they're not getting bigger and so we're making progress.
And it is a market system up -- down but by and large we we see things getting better not worse.
And we we see.
Corrections and in Europe we see corrections and and policy here you know that are gonna help so we we feel good about that.
There's always accorsi unknowns and things like what happened in New York over the weekend are scary but -- but.
We feel good about it going forward.
You know it's -- would have thought would jump around a little bit -- on -- show I had a sneaky suspicion.
That since he's usually a little bearish is gonna be -- -- -- -- in the goal right in the safety sounds sounds to me like you're.
You're you're more on the opposite side of that that maybe you might like some consumer discretionary exposure you might like some industrials bush is something that really.
It tends to grow when we are you -- sneaked in.
The return here -- India recovery.
The recovery still going on and we're going to move into expansion eventually so.
Even though unemployment might be.
Might be kind of scary that's the last indicator and I think he'll talk about that later as well.
The other thing to look at is that is that if you look at their earnings you know the S&P for instance.
Earnings are still in line with where we are the marketplace and in fact if you look at interest rates and earnings the -- still pretty low.
From a from a from a value person perspective.
You know when things in your notes that it says that you like -- select areas of real estate what areas -- of the real -- marketing and student.
Well I still like some lose some of the refunds and reach out there I think that that will say it's been beaten up so bad.
That there -- some big opportunities and and we also like MLPs for some of their tax benefits as well as some of the -- Real characteristics.
That are available are not available on bonds right now Carlos what are you -- better but those of -- go ahead.
We feel better about those assets than than say traditional.
Muni bond assets or or -- you know low yielding assets right now.
And low -- world -- you guys do with a lot of entrepreneurs what are you seeing from your client base in terms of whether it's the willingness to go out there and spend once again coming out of this recession.
The ability get financing -- what do they tell you what -- -- You know financing -- -- stuff is still very tough for the small business.
However we're seeing people take risk by equipment.
They're -- hiring yet but they're going out there doing things that tell you they believe an expansion -- would also like I hear a lot.
People are again start to say.
What about taxes in fact the number one discussion the last say six weeks for me has been on taxes people are concerned about tax rates going up and keeping their wealth.
Away from the tax man.
And now I got -- -- that's an optimistic sign.
It is because it it didn't.
Flip -- out what the administration is doing our small businesses because they are correct to be concerned everybody gets smashed dozens isn't enough.
Six ways till Tuesday between -- -- -- coming up and Health Care Reform I mean you name it it's coming -- them so how are you preparing your clients.
Well I mean we're looking at a lot of tax planning -- taxes are the issue today.
Health care is still is that -- something that people are looking very closely we don't know how yet to prepare our clients for that except that.
That to say it's coming and it's going to reduce its gonna reduce your profit but -- is -- something you can do about and business owners are are are getting ready for that.
But but -- you know you gotta make money to pay taxes and so people are talking about pay taxes so -- -- -- talk about making money.
Cause real quick before we go on -- down to 32 K are you waiting for.
Wait -- the pull back to continue before you start buying more -- even looking at buying selected names even on a day like today.
Just just yelled -- right now -- markets only halfway through with the trading today.
You know we don't make short term buy and and and and sell recommendations were -- long term.
I'll tell you that I think a lot of people are gonna come and start by and as this if this downturn continues in the market.
So beyond today you'll see some some buyers command.
That's that's because a lot of people -- that last run Carlos thanks so much for being with us today.
Okay thank you.
-- -- -- CEO -- of wealth management out in Austin, Texas that's one of the best cities in America by the way you've been Austin, Texas.
Now I encourage you to visit I really do its outstanding great place.
Top I encourage you stay with us and.
And -- your -- -- Jersey girls well.
You know and I may be they -- they -- -- everything is bigger in Texas State -- -- -- evidence before me I think I'll.
Well -- foxbusiness.com.
Live -- -- thanks Chris -- Chris yesterday you said look -- -- I was the fact that they would bomb in Times Square it was made by a you know.
Not a guy who was watching diver basically if you -- what I -- all those years you would -- that bomb he was -- He is what's in the trailer from a Gruber and we didn't we have -- golf and I hear it but -- -- -- the Pakistani Taliban took credit for the night lights and why on earth would you ever take credit for that bumbling disaster.
They held if you take credit for some -- for some that works but then again.
What has worked not very much recently with these terrorists here on -- so that it it abroad yes but not here again if you watched the -- ever.
Or better yet talked to Scott -- he will have much better explanation -- mine which is they forgot the duct tape.
Former special counsel to my kid off at the Department of Homeland Security moons ago during Katrina.
And Scott -- have -- and the million other titles that we're not gonna.
YouTube too much in the ball really don't match up.
With this -- wouldn't put my thought process do you follow me on that -- my my feeling was.
If we think that the Pakistani Taliban is one of the most feared organizations on -- in this is what they send over here.
All I would be happy with that -- more fearful that it's a one off thing because it to me that's a bigger danger all the one off.
Surround this kind whether the you know your movement diver analogy the reason why did -- -- there wasn't bubble gum and dental floss you just.
-- didn't -- -- in all seriousness -- either this is something that sends a message right we were able to.
Going to New York City.
An area that has an iconic value to -- Times Square.
We were able to park and SUV -- with explosives.
So we can get you.
-- we're fortunate and I said this before is an old expression better to be lucky than good.
We're fortunate that we got a little lucky on this one that -- vigilant citizen picked up something was amiss and went to law enforcement.
And then the good comes in where you have the GAT TF which is state local and federal law enforcement.
Working very well together sharing information.
Conducting the post incident investigation and tracking this guy down -- he's literally on a plane.
Getting ready to flee the country.
OK so then what you're saying is -- didn't even come to this -- sit at the end.
They got it didn't work you forgot the bubble gum he shouldn't have even gone through the tunnel while it in an ideal world yes but think about how big our country is.
We have over 70000.
Critical infrastructure and key resource sites spread throughout the country.
We can't be everywhere all the time.
-- back at the department and gone wobbly back to 2005.
The department was out there -- intelligence analysis saying the IED threat is coming to the United States and lo and behold we see that.
Look at does -- plot with the with the guys in Fort Dix were trying to it was IED.
Improvised explosive device so you whether you're strapped up with a suicide pact whether it's a car bomb.
Remembers Ozzie they're gonna -- want to -- witnesses again with the IED's so DI ED threat is real.
And in -- two different kinds of events that al-Qaeda and other wrongdoers -- like to.
To promote one would be the smaller incident.
I you know -- by -- time square.
Effect the impact of that is great in and there's a catastrophic incident which is the world trade senator.
Or you know not maybe not the best analogy but it Oklahoma City bombing.
Where you know you have in your building is shredded -- hundreds of people die you know that's that's a big catastrophic kind of of that.
Going back to 9/11 we got shoe bomber we got the failure in Detroit we've got this woman is well.
We've got to -- yeah we got the Brooklyn cell you know girl failures so that that's my point is that the fact that come.
It would just don't just takes one of them to be successful this set -- psychological thought process moving forward why they are failing -- is reduced to the job of policing wow an idea secretary Chertoff.
It used to say all the time that.
You know we have to be right every time they have to be right only ones.
And it's just a matter of of the laws of averages -- again you know we've had as we've been pretty lucky up to this point.
He's had some people who maybe weren't as capable as they could have been.
We don't we -- he had an alert.
Guy had had a video store that was developing the film that the Fort Dix.
Guys were were out in the woods practicing and he took that the law enforcement so thwarted it before it ever became yes they concern about this -- was.
This is actually they were operational.
You know they did the SUV with the explosives was parked -- should've been.
And but for what appears to be some sort of malfunction with -- IE DT we could I had could had a pretty pretty big problem.
So what's the take away you're going forward is this we see this is a wake up call weeks certainly I think she can gradually.
As you -- -- local police.
Law enforcement that got this in 48 hours so.
We got ourselves in the back do we say hey we gotta do a better job on where are we now I don't think we ever pat ourselves in the back because you don't want to rest on your laurels but this is a great example of how.
GT TF which is FB ID HS -- the Customs and Border Protection immigration and customs enforcement.
NYPD all working together sharing information.
Like his naturalization followed though that ice had been shared.
And then went to the woman in Connecticut who sold the SUV to say is this the guy and she said yes.
We're we're seeing that one -- -- and -- and counterterrorism.
Intelligence folks are working more more together to be effective but what you really want to be effective is on the front end you wanna prevent the attack.
This was on the back and so again we got kind of lucky.
With that said.
Look can you do -- the letter of along the front end because to me a guy like this Pakistani born US citizen who goes back at Pakistan for five months and then comes back here.
That is more than just a red flag wealthy he's a citizen and what part of the difficult problem here is -- all these tiny little dots of information that you need to collected.
And paint the picture we.
So you have an individual's recently citizen has family Pakistan -- -- has a legitimate reason to travel Pakistan.
-- what do you do with all that you need to take travel patterns you need to take background it's not people say profiling it's not profiling it's pattern recognition.
And those are the kinds of Intel would pieces of intelligence that you put together walk in the -- turned into actionable intelligence -- you then react from the actionable intelligence.
Sky no we got a rapid release we're seeing funding cut and the New York City in particular -- seeing coming -- -- police enforcement.
Do it does this isn't the case spurred keep sending -- money.
It's what people are not going to be happy with what I say here but -- -- there is literally billions of dollars a year Homeland Security grant funds that goes out to to the different states.
I think people would take a look at and see.
How much on obligated funds are still around going back two or three years because everybody cries -- -- money back more money back.
I get it.
But he's still sitting on tens of millions of dollars -- you have yet to -- which is why the department has changed the Homeland Security grant program.
Has more of an audit function to to make sure that we don't anymore you know leather jackets for police dog -- refrigerated garbage trucks -- work but that the money -- -- -- being spent wisely yet beautiful.
-- however -- love that you stayed for -- thank -- Good afternoon you're an honest analysts however great stuff turning a patent -- special former special counsel to -- -- -- up from Homeland Security to doesn't 5% 5% not to sex life.
Thank you thanks consensus -- -- -- so keep with the attorney theme right here.
Let's go -- William chip Merlin who's -- attorney with Merlin law group bond.
-- destined floor a great place to vacation down in Destin Florida or at least it was ship is it gonna continue to be a great place with this oil slick comes.
You're away will it come your way.
I tell everybody down here is so worried about it right now this is one of the premier destination place for all tourism in the United States we're just afraid he's beautiful -- CD powdery beaches -- we're gonna go away from the oil.
With that said that do you think that it's I mean is that right around a quarter what's the latest in terms of what it is gonna reach New Orleans when it's gonna move its way around the floor because I'm living -- now.
That the way the ocean currents move.
It's going to move right around Florida to start heading up the Atlantic coast.
It's it's like a huge bad.
That the Gulf of Mexico and -- added currents on top security oil are being driven by the win.
And then yesterday we had a very strong southerly -- when I woke up this morning or thunderstorms coming from the north.
Puts it in the opposite direction you know it's very difficult to tell.
There's even some reports concerning the deep oil into the deep areas getting into the -- currently -- Into the sort of -- and around the Miami and Fort Lauderdale.
But is it coming that close to shore -- I mean is this.
This is a lot of nervous or are we see in this you.
All or last night I'm going to be all born blacks in this evening they are talking about being able to smell so it's close enough that you can smell -- and some of the more serious Louisiana stare on the didn't -- outside barrier islands that -- -- a little bit.
You -- with respect Louisiana how -- sticks out into the Gulf of Mexico at the mouth of the Mississippi River.
The rest of the areas where there are a little bit further north than it hasn't quite hit these white beaches along the northern at all.
-- -- -- the oil slick hasn't even reached shore and yet there is certainly already talk of litigation.
Where are we right now in terms of moving full with that process is that we know it's going to be a long term process.
Yeah unfortunately it probably going to be a long term process while everybody is hoping that -- this kind of work with respect to the and track the oil out there this week.
There is potential that it could go -- for three or four months before we get this thing stopped.
And there's a big question with respect the amount of liability that beat people -- under the current law 75 million.
And then the exhaustion of the trust fund.
At one point warmly and it just goes off -- three or four months.
Going to be significantly -- and one point four billion dollars.
Right and that was my question I mean that it there's not enough money to go around people are gonna be suing and you know for just about everything and I I -- you already of Condo association's.
The resorts even though restaurants come -- down on this.
This this is not going to be enough money to go around.
Well there's not enough money in a trust -- around but you know BP over the last two years and -- nearly forty billion dollars they're ultimately going to be held responsible so long as under the law.
The federal -- we can prove there was some type of gross negligence or willful misconduct with respect to the safety precautions being taken -- BP indeed he has not admitted that.
Wally indicated they're taking responsibility there's been no indication about the extent.
How far does that go down sued Transocean which is the owner of the platform.
-- -- Halliburton is an oil services company that also worked -- -- -- how many -- different companies.
At supplied products and services for this particular platform.
Will would be held responsible.
Well and that's a really good question reading through the lines from the BP chairman from last night indicated that.
While they're responsible wasn't their accident seemed to indicate that it was other parties -- work.
Responsible to be held accountable with respect to this I think every single.
-- -- party involved with respect Oregon needs to be investigating exactly house.
Happens it'll never ever happen again is explored -- important that everybody so -- drilling offshore oil.
Here's a thing you know we -- -- I mean you you drove to work today right we use this -- all we've been -- good you might even stopped at a BP gas station.
And it just seems almost contradictory to come down on these guys they made a mistake it's pretty bad it's they're going to do everything they can't -- were prevented from happening again.
Does there -- have three course here.
Opportunity recourse under both federal and state law -- can be -- huge trickle down effect all the way through even individuals might be -- at all.
In the tourist economy it doesn't take much that meant that.
Somebody who might even have a beauty salon near Rotterdam on tourism down there's going to be without -- John Wooden -- -- the middle -- seasons others can be significant -- down impact.
Under current law people do have a right to redress but there's a limitation per capita liability.
The lawsuits are important in order to show who's accountable for that.
And whether or not all the safety precautions were taken there's going to be huge questions being asked.
Is that whether or not the oil industry lobbyists were successful.
In preventing regulations that would make this or ratings sink to the extent that what -- have had this accident happen.
Happened but where those regulations not being in place -- I know we've got to run to -- -- real quickly that we have congressmen and women challenging this cat.
And wanting to raise it almost post Expos facto after the fact.
What did can you tell me about the legality or opinions on the legality of that.
Well you know certainly the com.
Is people are very concerned about constituents are certainly raises -- -- or change the laws afterwards with respect him.
The federal law chances are that it out.
Probably be held unconstitutional.
Let me my initial opinion the law doesn't allow for breaking through the -- so long as we're able to prove.
That was gross negligence or willful misconduct with respect to -- safety precautions being taken.
And I think that's for the battlefields going to be played out as we go through the discovery of these cases.
That's the -- -- good it's awfully thanks for joining us.
Thank you guys just general attorney with -- Merlin law group and he's right beautiful white sand beaches down there are -- are going to be covered with -- -- -- not.
Which you've got to think with a slick the size of New Jersey and growing every day it's going to be almost.
Possible to prevent that from happening right.
-- you just gotta wonder with the -- -- all the money that's going to be spent.
And we can end up -- the the end of the day it's just through brutal.
That is obviously catching a ride down 268 points -- Is catching all of our eyes he got some better than that for me today I -- -- the next thing I could tell the story of why club -- time but doesn't listen.
Let's put pictures up of the woman involved means like snoopy that teacher parent mom mom -- I -- -- -- PME.
We do we do that right away violent but the pictures up with a possible Megan Fox there I said it and I don't happen to -- for the rest of the -- -- -- Yeah.
Yeah but she isn't mom and the rally if you saved a teacher on the first.
-- right you -- know about my story I'm not gonna tell you my story even -- -- new director couldn't really think -- Well it is -- right I -- hear about you yeah that'll affect you all though.
-- -- -- And -- -- -- I hate bush does that have.
Her boy friend actually is.
What's his name Brian help me Brian Austin Green from the former I don't -- know him again.
When he's got a parent you know local school and that she made this little video -- -- to just.
And that is that people local PGA at Los Angeles PTA they made this little short film making boxes in this is basically making fun of -- by mocking the governor for cutting teachers.
Governor Schwarzenegger that is.
And her boyfriend Brian Austin Green also got involved -- it because he as a child in the school so there.
Negative socks get all political all one needs to realize money of those transformer -- -- again knowing I don't angry all that no one.
-- off the violence you know we'll hook it shows for the greatest hits and us senator the government if you don't origins.
You guys -- this is ridiculous that he.
Get ready to come back we'll tell you what's crushing this market down 272 -- -- I thought -- the fact come live -- entry during because we're talking about what's going on in England when he gets that.
First you need to know why this markets -- and -- this disaster or what's going on here.
Believe it or not it's in this festivals across the board and the energy industrials are getting killed the most -- -- -- -- crazy stocks are down the LeapFrog Enterprises is down 23.
Per cent to -- and the stock is getting clobbered first quarter loss narrowed.
There weren't strong revenue can't really be able -- these crazy -- but the company's.
Lower than expectations and you -- happens when you miss expectations down but especially on a day like today you wanna miss expectations on a day like today they can't -- -- -- a kid man.
You got nothing.
Told -- about Domino's Pizza.
They've revamped the crusts yeah is a good -- I'm not try to live in New York City if I had Domino's Pizza in -- -- right at -- -- They actually did well although this new crust what analysts are expecting -- -- sails to lead.
Go to through the roof 20% and they only can imminently fourteen point 3% of the stocks getting clobbered end result -- that.
I don't know better or worse have you heard anything -- -- Hamels and not good.
Again we're talking a mass produced it's not always said there there's -- -- It's a huge opportunity in the second segment because.
I Papa John's I think is the best and what does that say I mean there's an opportunity to make good -- up.
That can be mass produced on a out of franchise faces and delivered quickly I think there's an opportunity no it's -- grabbing a hold on at least Domino's is changing there and.
Rex -- try -- right to try.
And -- up.
First up fiscal first quarter sought improvement in sales and margins all that stuff people I guess are out shop -- again women's apparel can you just assume we talk about this earlier.
First quarter profit fell 401245%.
But the results were better than feared -- -- those can be worse.
And they -- anticipating modest growth going forward I think that's funny down -- him.
5% in the -- it was going to be -- -- -- wipe the sweat off their -- -- that we've gotten this -- and Wal-Mart you can buy the first two weeks in Wal-Mart now isn't it little trial and there's the loads of people on great to me you know and yeah I know you had Emmitt -- -- they got.
Did you big -- today over stock dot com that it was halted earlier today that came out numbers they basically beat.
Estimates are good revenue was good everything was good and the stock because it's a -- market cap which.
Zoom in and -- they had to halted until everybody like basically took a deep breath it's trading again but it was about 24% when McCain and.
To a point yesterday we just had too much stuff in this country.
That it had that is -- for example and Overstock.Com.
And just buying everything because you're getting a good deal line.
CEOs very outspoken he's been on fox really they're doing very well -- -- that so those are some of the things that are -- this market the downside 270 points I also think there is concern over.
Europe in general acting and there's concern there's there's fear there's a little trepidation wondering what's gonna happen.
In the UK with the election coming up in a couple days that we in this country probably care about elections in the UK.
Japan and maybe to a lesser extent Germany and that's probably right wouldn't you say you mean it may be -- -- you know you're looking for Hugo Chavez to get back out that's Venezuela would be decent election.
It's -- of -- but the battle that's a lot of some -- an election now at Iowa I think I'm still going to be running the country you can stuff your ballot box is all I want and I'll see tomorrow.
Is sort of one of those things.
-- -- -- as soon as -- -- that is the Euro Pacific Capital we usually talk within.
Over phone -- under the Atlantic and whatnot from -- but -- here we're glad you're here with us.
A what do you make of this election going on a couple days.
When I was a member of parliament on -- Margaret -- provide us with just fifteen yes and so on scene I've worked in about twenty elections and this is the most exciting.
Because it's it's uncertain the most on -- -- -- has seen.
It could go in have been a number of ways I think that you knew you just don't know what probability to attach it could be a hung parliament -- with the conservatives with the largest majority having to work with the liberals if they would work.
What could be the labor party with a second -- is number of votes but because of that.
Distribution they could have the largest number of seats working with the liberals.
And so it's important and the other thing is that the equivalent of the Tea Party movement in Britain is the united kingdom independence spotted.
Which nobody -- had already in the United States.
We already have on the vice president of that positive -- -- -- And we already have fifteen members voting members of the European Parliament which is proportional representation but to get a member into being -- parliament.
Which is -- cross the -- as you have an America as much tough you've got to have more than.
14% of the value -- to get in necessities before you stand a chance and this time we have.
A modest candidate fighting that season Buckingham against the speaker and he may well win.
And that'll be a major blow.
To the conservatives and to that this party system and of course it Bob dream is that he could be the swing voters as a hung parliament.
Now I don't Chris has a thousand questions for the season following this but can you explain to everyone why this is the most exciting election you've seen in all your time is because of this additional third party.
Not ready I mean that's -- mine I think the biggest thing of course is that that it's never been -- on certain since I've worked -- parliament have a and of course it all three -- -- that basically the same they -- began to Europe they all want to spend.
And so we whoever wins is gained have the poisoned -- they get to have to introduce austerity.
And so that wonderful result we would think being an X on facts right reaganite conservative.
Which is united in human events but it.
The conservatives and our -- -- cops say she was.
So what -- what we've failed.
What we fail is that the best result will be a -- that -- That hung parliament relay -- with the largest party moving in with the liberals and they would be so hated bit cause of the austerity.
That the conspirators would have to change to becoming more like you get the more facts right and that cut government spending.
-- -- -- -- Already said he's going to do that I -- he pledged his television though most recent debate that he he he's about a contract with you people in part of that contract is.
Cutting government cutting the pay of government workers -- looking at immigration a lot of things that -- on the floor right you would certainly be concerned.
Chris -- president rider because he's had these contests before he'd promised.
Have suit cost on down costs I'm guaranteed that he would give a referendum on -- he wellstone that.
I might go when he sees trouble in the streets austerity people bend light particularly government weapons again but these huge pensions and twice the average salary of the private sector.
Was it clear in eagle and then I had -- and the people don't want to have.
Molotov cocktails and bricks throwing ceremonies -- in Trafalgar Square since that is is what exactly that the government officials are saying I'm not gonna make any tough.
You know than just decisions and have this on my hand.
It's tough -- but pussy footing action.
John you know someone on the -- -- why we care about this election.
Like Phillips and affect us here in the united well because Britain -- think -- is America's most fundamental ally.
And we're in the same position as America in many respects.
If you look at the debt problems if you -- Government deficit against GDP.
Off -- I see London and Spain and Greece comes Britain.
And then off da Spain.
Island comes the United States -- talks about us you know I became united -- too big to talk about.
Because everybody's worried about the so called -- countries it's but.
Actually and the minute look at look at Greece it started is that that is that 2% of the European Union started the thirty billion as of twelve billion bailout then that is -- -- -- -- five.
And wonder what will Spain be what -- attended the what what and being what would the United Kingdom -- and the United States who's -- salvage that one.
Is it did is this that I guess that's the whole reason is that it looks like this could be a referendum this could be a -- nation's standing up somebody saying we're -- we've had it.
We're gonna make the tough decisions and it could be a model for us in the coming years.
Personally just the opposite -- ally the United -- body which is similar to the Tea Party wants the same sort of names.
Although the main one is to get out of Europe which is sexist and to do with Sierra trading with -- Europe but by Switzerland as an independent country.
Basically got the same views the Tea Party in this the full from grassroots that's what's so fantastic and -- time this.
-- majority is ever spoken.
And sue and what happens in Britain could be a trend towards in the United States.
You know -- I just wrote.
Britain is still a great ally we need to -- a -- in the EU too bad our president doesn't see that how does the UK -- our relations right now.
What is -- of course that we've always stored it's the most fundamental relationship of British strategy.
Particularly defense strategy that's wired route and didn't Corey that's why -- it through.
Iraq and in -- this -- and into Afghanistan.
Because we feel -- sticking together is going to be crucial when we see the challenges from other major nations in the world in the future we have to stick together.
Now of course we lied to -- European allies particularly Germany which is so powerful.
To join with us but sometimes -- -- -- but we've been in his state may have troops in Afghanistan but are they allowed to -- -- it's a different thing.
The Richmond that I was in in the -- Gaza British grenadiers is just having its Thomas presented new -- next week by the queen.
And we -- the town -- just returned from Afghanistan I'm having a presentation by the money -- We sat and Allstate people in Afghanistan on this -- But it's interesting these so called talk about so -- in -- Jason bastions of -- come back from Afghanistan.
The real quickly just a few seconds left what do you think from an investment standpoint right now global economy.
Com are you -- -- down the hatches you look at a gold and its safety.
I then because I I mean history never repeats the same music.
But the same rhythms that.
Who now and I feel that in 1920.
Early twenty's we had a recession -- of us -- war -- to spend spend spend roaring twenty's and then the great crash.
And I -- I think we're in the middle of the spend spend spend twenty's as governments -- tons and trillions and trillions of money.
Around the world like eight trillion last year it was -- -- by governments.
Money that we have the mountains this paper money so -- -- a page one against inflation but second against financial collapse.
And you see the go prize toting up at 11100 plus seven to two what it is today.
Holding up despite the fact that the administration is -- what that signals is gold deposits frightened of financial collapse.
Some -- so -- to have you here on sat.
I think it's used not contact you go -- tonight is that show I am tomorrow.
I believe Brady on that stand.
Going to see this great battle in Buckingham where -- United Kingdom into that -- in May win that first parliamentary seat.
Should be fun thanks John great thank you.
All right status think about it that they quick break when we come back more what's driving this market down we're now 250 points.
On the -- -- mad about his upcoming live trees right Chris potter.
I just that I had goosebumps on my legs and he's ready to disclose enough so prepared so anything in the market center Andrew played more points right now.
John -- so great we had to have him back again or regardless of where he is -- I feel like I just learned I discovered some history lesson -- tell us what caught your eye because I know my story clear I gotta do what -- And that's why are your product -- that -- you listen you're still coming on his.
Who was made last night while we believe we know it's the first -- into the sand at Citizens Bank ball why that's for the Philadelphia Phillies play.
A fan that ran onto the field we've seen this many times before.
More on runs on the -- the eighth inning usually gets -- Actually the ground in this were -- this police officer here taser him as you can see and he fell like a sack of -- -- isn't currently on the first time.
In Major League Baseball history that a fan -- actually he injured while running onto the field now it's against the law.
And he was actually charges seventeen year old is charged with.
But -- -- a lot of run onto the field you know I'm pretty do it now let's say I've never been more in favor of anything in my life.
Taser all of these guys when they get on the field -- mean this is.
Look you know what you're what you're doing he's seventy years old drunk I don't care you -- -- the field you deserve the UK's third.
You deserve what's come NC so it -- also couples -- senate -- again I think pit bulls.
We don't use an appropriately enough this would be one time we can actually use them and they would be good -- a good -- this -- society.
-- on yeah.
-- -- you can you can -- -- this question -- got here and baseball game.
Why then does everyone.
-- over to try to -- -- all that.
The team brown we can catch to make like some winning into the game down the -- pit bulls -- -- that -- -- hot hot hot -- -- do you.
IP -- you might be going royalties.
They -- the excitement running on the field is not getting caught up in the site.
But it is it is wrong it's an advance.
It is interference and now -- -- well.
Yeah given additional.
I don't bark and member of the guy who reached out in in the playoff game of the cubs and punched this little girls -- back is that just I don't know this is the guy who -- grab them ways to salute the -- was about to.
Clinch the National League.
Headed for the cubs there -- backs the World Series and then -- -- -- that at this diet.
Think they got extra outs in the cubs ended up losing and he -- his name is -- in Chicago I think what.
Called open probably remembers his very well he joins us right now from Chicago she's in -- SRV network.
Call you remember this situation at Wrigley with the -- reached out and that's the baseball they're prevented a comes -- going -- the World Series.
I certainly do -- department is a name that will live in infamy forever but you -- you wouldn't advocate taser him or putting the the pit -- on right that's what he thought.
Depends on how much of the cub fan your -- yeah.
Yeah yeah yeah it's game appearance -- -- I'm just a quick.
But I would have with that said will move on to talk a little bit about Wi-Fi right here because that's an interesting thoughts about it.
And I don't use it -- much but I know it's gaining in popularity to the point where they're used it is little and -- Indirectly indirectly -- but I don't think my computer into a hot spot for example and use it at a Starbucks one I know this is becoming more and more popular there -- a lot of security issues aren't there.
Of it definitely is.
Obviously -- we've heard about the iPad coming out -- current version of the iPad that's what it uses -- uses Wi-Fi.
So that's what people are going to be using this great new product for is to go to their Starbucks to their.
Different open Wi-Fi areas and start browsing the Internet with it so -- fight is everywhere.
But it's a good thing is I mean this is a kind of bring it all work well together.
Yeah if you look at it from two sides let's first take a look at it from the business side the business standpoint.
Businesses want to have that they want to -- first it's becoming almost looked for in de facto.
If I if I'm a business where I want people sit enjoy themselves.
And the longer they stay perhaps the longer it will take more advantage of my business -- and I'm gonna have Wi-Fi and I'm -- -- -- -- because that's where people want to congregate.
So from a business standpoint it definitely is becoming more and more that -- Now from the user standpoint yes everything we have we look to be on the Internet we love to get their information.
So where do we want to go want to relax we can we still want to be attached to that -- Internet so therefore.
We're gonna go to the places that do have free open Wi-Fi.
-- S Tracy mentioned yes your Blackberry in many cell phones.
Sometimes take advantage of Wi-Fi not just the cellular service.
So even if I'm in a Wi-Fi area if I get a better connection through Wi-Fi I might be going through that Wi-Fi access point.
Carl what about the cost to businesses because obviously -- -- -- -- And attend a gathering place that I think I could benefit from Wi-Fi -- might cost of providing free Wi-Fi is that going down exponentially as this becomes much more popular and that the technology becomes a little older.
Well the costs is is basically twofold one is first of all my Internet connection I have to have an Internet connection.
That that patrons can use the second would be the actual white fire wireless.
Access point that I have to put in there to allow them access so I have to pay for that cost -- the maintenance and those types of things but those -- pretty much pretty standard fixed cost that I can.
Definitely budget for and and and use.
Judiciously in and get what I need to get out of there so the cost is definitely going down because -- seeing competition on the Internet side.
And of course is always competition on the hardware site for those wireless access points.
So -- -- to know if I'm like it you know constant Wi-Fi -- love set up in Starbucks.
Safety reasons safety purposes what should I now.
Course safety is always the issue and you know it.
It if you ever gonna do anything on the Internet you've got -- considered the fact that if -- on Internet it can be found.
And it can be taken in the and so if I'm going to a public Internet access point I definitely would.
Avoid doing any type of personal business there.
So that's the first thing to go through to the other thing to realize is this means nothing is a 100% safe.
The -- I guess the only safe way to be on the Internet is to not be on the -- hits and there's always someone out there that can.
Get your passwords gets the data actually remote look on your PC and that type of thing.
There's tons and tons of hacker type people out there that can get on there so if I am doing something that.
These places like Starbucks and what that.
I would do more casual browsing it's you know look at the news look at those types of things I might not stay on for hours I might get on and off and on and off so -- if someone is trying to -- into me.
That -- -- -- less of interface.
Yeah I think the people should do is definitely.
Keep there if they're using computer did definitely keep.
There's software updated Keaton.
The -- do everything that you can do in terms of trying to deter -- at least the lower end hackers from getting them.
If I keep myself operating system updated keep my good anti -- and -- firewall a firewall on there.
Things didn't at least are in my favor a little bit as I can stave off a few of those hackers.
Is there a way to be able to tell when you're looking right at your computer screen for example.
That particular site is encrypted -- a spot as encrypted that that this particular Wi-Fi spot is safe as opposed to one that might not be.
Very good question yeah I mean that most browsers.
Every -- that I know of that religion the -- show you when you're on a quote encrypted are protected site.
For instance Internet Explorer by Microsoft has a little locking mechanism some may change the color of the the the bar but there's something on the screen to tell you that you're there as well as if you look at the address many time to address will be HT TPS.
-- -- -- -- -- So yeah you you can go to secure sites I don't want cause panic but the real top end hackers.
Can get through that encryption.
Does it matter that they're paying is it more secure than -- that because there's a price on it or is it just the business passing costs on to me.
It's business passing the cost -- you definitely you would hope that.
It could be good point I mean when there's so many that are free for you why why would you go pay for it -- -- granted there are some that definitely do higher.
People to help them try to protect or -- lock down their wireless access points.
There's -- -- certification actually that's out there it's called certified ethical hacker.
Which is the train -- -- teaches people to be in think like a -- and then they figure out ways to counteract that.
Almost a million.
Wi-Fi ipads sold some of those million -- of his -- with three G but quite a few of them -- so obviously this is a much.
More important issued this month that it was even a month ago thanks for joining us.
Thank you -- me -- longer than but I chief technical officer SRV network and I guarantee when called visits Wrigley Field.
There in Chicago he has no interest of running on the field why would you it's like heaven it's like Augusta National its places like that an event.
You don't run on the field you sit there and you enjoy the baseball experience what's this story is quickly of the little brother to the ball back -- Told that yet but I remember -- that was it -- a fan caught a home run ball handed it to his daughter who is about four years old and she -- to have back on the field because what she saw probably was visiting team hitting a home run.
And the fans throwing it back on fills a CC -- that she -- -- thought that's -- occasions -- this.
That yes -- I didn't I didn't say yeah that's so horrible it's -- we would say that we're gonna find out who said that during this break we'll be right back.
-- Sit back.
I would let the foxbusiness.com.
Live we have taken the person who said that they we should -- a little girl and taken out back and well.
The blue moon and that's the sound evidently yes there is 5000 volts that -- said we're now gone -- -- to -- asked -- where are -- -- look it's a little better -- -- -- -- to fifty that I think it's common would really unsuited -- but we got a good thirty point that you got to look down the rich -- in DC now.
-- they're so -- going on.
Don't know how do you keep -- little head straight day what does appear as their numbers down there that used to be -- -- will say that -- You -- -- and all of this always happens with Phillies fans.
I got a terrific guy who tried picking on the little girl.
Yeah yeah -- -- and I -- I have my my sports interest often contradict those of Philly fans -- but -- had a few times -- going to be completely open and honest -- but -- -- season in Philly fans around here they know -- it is a brutal place to -- if you -- -- -- and that is for sure you -- -- in a lot of trouble -- -- -- -- -- the -- with the sixers flyers you know -- -- rough night.
That's right the Philly fan -- I mean all spectrum and it stopped.
-- -- -- tough place to visit is if you're the president you're usually walking into some sort of business event at least that's the line on that that of course.
President and businesses -- are at odds of one another but the president did.
-- make remarks earlier today at the business counseling spoke with that number of executive CEOs you dress them.
I'm one of the more subdued speech is the president really is ever delivered.
You really didn't strike out against Wall Street in the business community he asked them to help.
Join him in support financial regulatory reform and overall the financial regulatory system he also.
Talked about health care talked about wanting to bring down the deficits -- find ways to bring our fiscal house in order.
Very long line of what the president has accomplished in his administration what he hopes to accomplish.
But not the kind of demonized figure not the kind of bringing Wall Street -- businesses to -- that we've been hearing.
Over the past few months what they say about the still because of the -- tough talk out of the -- -- the White House in general.
Up to this point what'd he say today about that if anything.
The president hasn't addressed this bill today but the White House over the past few days is certainly taking BP to task saying the company has agreed.
To pay for all of the cleanup costs and then non cleanup costs of the administration using the language.
We're going to keep our boots on the deck of BP to make sure they're doing what they're supposed to do -- -- -- under the watchful lie.
Of the federal government down there you've got the Department of Justice down there you've got the EPA down there department of interior the Coast -- -- -- significant federal presence down there.
Trying to make sure that BP doesn't -- supposed to do.
There Illini are behind you -- had -- it added I just -- let's say that I think.
The Wal-Mart and then there's a weed wacker great yeah we'll get to work yeah -- -- didn't.
So let's say.
I know this is -- every day and I.
My grandfather -- I think it and it really wrap me around out of little -- thing that would they'll only fond memory I have and then it was -- spirit -- ten -- You have protected MDC covered on that she's -- leaf -- something get -- -- down that's chipped up and also only I think the only memory I have my you know about it get on the back of those things help -- those.
-- enlisted and not cool because I the most lie I was on the back and anything I was on driving the lawnmower now because someone of those things on the team are -- this right now this is really adjusting we're talking about Chicago baseball and we thought -- it was a Chicago -- Who's the founder of the -- -- also writes a column for business because -- not comes from Philadelphia.
-- -- -- -- -- -- I've seen every single event the very talked about we were there -- need to battery throwing -- -- teasing little girls is really nothing.
-- you write about a number of different things for these web sites and also obviously you're consulting group.
Arm but you go to -- -- the article tense it's the boost small business profitability.
And we thought we have you on today because so much talk lately it's been about taxing our small businesses -- with health care legislation they're going to be taxed moving forward to stimuli harder for them.
To make a profit what are you telling -- How -- you know we're seeing nowadays is that on it especially segment health care legislation there there's -- -- this hidden cost the people don't talk about I'm.
With health care now.
When you look at the legislation -- to -- good thing for small businesses I mean they're -- like a 35% tax credit and -- -- less than fifty employees you can not only you know you you're excluded -- -- -- health care legislation you know you -- get -- tax credit -- -- issued a cut you know sits in our mind is that.
Even though we might be paying less money in our businesses.
You know that's got to come back and pass somewhere else -- be paid for somewhere else.
So business owners like myself I -- we file 1040 returns most of us run S corporations and most of the profits are businesses flow through to our personal returns so.
Who might be saving money on our businesses to some kind of tax credit yes or reduced health care insurance.
We are still concerned as to how this is all going to be paid for an a lot of guys I talked to -- a lot of people write about thinking that it's going to be paid for through higher taxes of course usually.
And then to your point your business flows through your personal tax attorney your overall income tax rate is going to increase so you're gonna he had -- it that way.
I think the health care thing to it cracked me from -- could prevent people from hiring because.
If you are at that pivotal 49 by employee mark when she hit 5051 you guys are thinking about giving all these benefits people and that's that's an additional -- I really could but I -- seem to contradict Darren and argue with you on that and and I agree entirely what you said.
Two benefits from this health care -- no no -- -- issues aside for example.
I would like to hire people out there that I can't hire right now -- my business.
There are people working for other companies that pre existing conditions where they might have better health plan you know care plans and -- I offer.
Com I think the health care legislation again however it's going to be paid for.
It's got to free up some of those people so if you for example you know you've got a preexisting condition.
And you're stuck -- your job because you need to have that health care coverage.
We'll leave that job down go out on the market and set up your own business your own consulting firm or whatever -- as a business owner that's gonna give me if you were towards the people to -- so.
I do think some people are going to be taken advantage of that.
You know one of the things you -- here -- -- ten -- to boost profitability is to outsource -- as -- you know you know Smart business owners today are looking for ways to you know increase their profits right.
10% unemployment is bad but for guys like me it's not such a bad thing because there's a bunch of great resources that are out there.
And the thing that's changed now been like 510 years ago -- their -- schools and allow us to find people anywhere around the world.
So you you can go to -- sector Craig's list in months not common look to hire people like.
I don't necessarily need to highlight a bookkeeper for example or outsource work to a marketing person that's in my own city and I can find somebody in Phoenix or Los Angeles there are.
These tools like I go to my PC and -- other kind of like wed connecting tools where people can be set up in an off site office and -- work for me.
That makes a lot easier for me to outsource what your tips was to reduce your real estate and I was actually thinking that's a great time to expand and -- get great lease deals yet you really can you you have to look at your your real estate holdings right now and you -- think to yourself well.
Is the marketing a bottom or is it going out.
There are a lot of people are getting some really great at least feels right now and that's -- you should be looking for.
The other thing that business owners are doing you know and and I'm doing it myself it.
We're taking advantage of some historically low interest rates and so people have to look at the financing if they're thinking of buying a piece of equipment or -- -- -- -- kind of capital expenditure.
You know now's the time to go out there and try get some financing to do that I know the market's been kind of tough.
But -- 5% 6% out of the receivers we haven't seen by used yet there is right and not only.
But if you -- used equipment you can write that stuff off so even though some of these tax rates -- -- -- The one thing that stayed around for small business owners is this section 179 deduction -- that so.
I can deduct up to 250000.
Dollars of expenses capital stuff.
So yes I see a good deal and used equipment deals like people that have struggled might be going out of business -- didn't really make out of the economy very well.
It's a good time for guys like me have a small business servers to get a deal and write it off.
No small businesses large businesses alike one of the first things they go when he cut when they have to make cuts is marketing him and I did -- -- of your ten tips.
You include -- and don't stop marketing you also talk about joining social.
Media communities which I guess what I been inexpensive way to continue -- Well you know I've -- a lot of comments come out but let me talk about marketing very quickly the Smart guys and now we're sort of following the money.
Yeah like so do you know what he'll like it or not that that's trillion dollars in stimulus money is out there and start to get into the economy so.
A lot of people look at the industries that are getting that money to health care industry the energy industry the construction industry and -- zeroing in their marketing on that and there are a lot of cheap tools to allow them to do that now.
On the social marketing.
That's in my opinion is gonna start hitting a backlash I mean I present hundreds of people business owners and I say who -- got a FaceBook page two years using FaceBook more you know social marketing.
People raise their hands on going.
What have you gotten out of it molding and her down we've got nothing because it takes time to -- -- -- you know it's a lot of investment of time.
Eight and that's I think it's it's free it's very valuable as long as -- -- it the way you're supposed to you that's right I didn't tell you about just can't walk away you can't you not think we can expect to get returns that you can't have a page on FaceBook and sit there wait for the phone to ring and and the people that use it well.
They invest people internally to keep it updated to keep the kind of take a little money off those things when it's done properly and it's very that's right.
-- great to see it -- he got his party's founder of the marks group called Philadelphia we appreciate you coming up was able to -- When a good place and ways that's better than we were we started.
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