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-- speech from the president so I guess there's that and then -- economic game.
Talk about that most of those -- fired up about first time then September 10 at cant remember the exact -- that Neil Diamond.
Its big debut more importantly really anything I hadn't thought of that there's a new judge -- American Idol to.
About that now Ellen DeGeneres taken -- a joke well why would I possibly make -- this taking Bob Dole's place yet.
An American Idol that was I thought the biggest news we have this morning on Fox Business morning where the ice.
I don't know where -- I think that's big financial big commitment to its stance that you like her Ellen DeGeneres I love her petition the musical bone in her I mean she -- she could sing at -- -- do you think you -- think she's replacing Paula Abdul and it's like he's not coming in here -- on it forever your girl.
Academic -- to -- and had a -- bet that -- I can't watch it one step forward to take what -- that's when he steps back anyway so the markets up a little bit eighteen points Robert gracious in his head we will get care a little while I finish.
Yeah that'll solve these songs at -- -- -- yet on -- you guys have exhausted my limited knowledge of Paula bill I'm proud to say.
Yet you added to that that would make it big yet made a bad situation -- Neil -- we can revisit maybe you know songs and blue or something but the kids say they are again growing of a woman says the are people -- -- wrote that next.
-- great song thank you.
Well good reference thank you aren't with mama please.
Help -- trade deficit that what you came on talk about in this something like -- weekly jobless claims to mean a couple of you know.
The economic -- other weekly jobless claims we follow this ever so closely and it's another less bad numbers not as bad as people are expecting it to be but any time you still have 550000.
People filing for -- you know claims for jobless claims not necessarily -- good report right 560000.
Was the estimated.
Last week was revised slightly higher -- were some we thought which made this week looked even better I guess if you look at it that way because of that drop of 26000.
From last which revision four week moving average -- -- continuing claims moving lower both.
Now lower than expected that is the trend in the right direction -- -- still come -- more than six million people.
On the dole you're getting these claims and he also have a number of people in fact.
3.5 million people are getting these extended benefits they've dropped off the continuing clinch that number it looks better but some -- people just merely shifted.
To the extended claim so.
The employment situation as you saw the basement yesterday still like getting a lot better that's something that is cause for alarm to a lot of people and now they're united traders investors though I'm talking to him.
And economists as well and then they look at this trade -- numbers biting the most in a decade and now he has superlative sort of jumping out you 16% jump.
32 billion dollars five billion more than expected.
The silver lining here is that -- demand for goods were bringing goods were buying things to some degree a lot of -- cash for clunkers we know -- in the on a lot of cases the foreign auto makers did really well.
For the most part of the top ten anyway and as far as sales go and a lot of cars coming into the US some of -- made here so a lot of them not break coming and.
-- -- you know we saw on the credit numbers that people dipped into savings.
To all took on more credit than they could afford for this cash for clunkers shuts up and on the one hand but it's hurting the evidence so.
I mean I think net net the end of the day when -- better off.
And it just knew any of your brain cells -- so where does -- the demand come from down the road that's what we have to watch for and that's why the weekly jobless claims come into play because.
-- -- watching hours worked and you know what real wages and they are well.
Hours worked pretty much.
Treading water but the the wages you know when adjusted for inflation.
I'm going lower so that's definitely cause for concern for that consumption going forward but mine that was a silverlight for some economists and you know who are looking at this concerns about the trade deficit.
That's -- I am so I think that those numbers is it really depends and I feel on the guys dependent on you can to pick them.
Glass half full glass right and I was just talking about that on fox news -- the foreclosure data to -- like you have bad that there's so -- has so many foreclosures are up 18% from last August but they're down 1% July.
To August so the trend might be going in the right direction you -- -- go glasses sound half full so it's like two steps forward.
-- -- -- -- -- an ally in a lot of cases you know -- -- its.
-- the people are expecting says.
Go and take the medicine now and and that's sort of jumping but.
That's -- a lot of people looking at banks' earnings they're gonna have a lot of write downs coming up in this quarter next right just.
Because that we get the pain out of the way now get that break -- -- the books for next -- on the party looking to 2010.
-- in this about military never could hurt GDP could be a drag on GDP with a wider.
More imports and export point.
Every number you look at between ten is going to be prettier than.
Away on nine because if you have -- absolutely can't get a lot of failure to canceling her earnings Sanford well let's let's hope they do because keep in mind what happened in the blaster in -- pretty much -- discrete G hall so you know one can only hope -- if things don't start getting better on cots in the next.
Two or three months mission at the end of we're in trouble absolutely had a good point Robert thank you Robert -- there with some our top economic -- -- -- -- Daniels and from Daniels and financial group joins us talk about markets Matta -- -- -- see you thanks for coming on.
That what what do you make things I think we should talk a little bit at least about.
Health care and the state of the that debate because that's that everybody's around the monocle we're talking about the president's speech last night -- -- -- -- I thought it was actually a pretty darn good state she had some very good points again.
There was a little little laughter when they said we have a few things to work out I think there's a lot of things to work out but us.
It's good that we are looking at changes.
We're talking about investments real quick -- -- -- the topics there because sickness up today.
Humana some of these health care related stocks or opt out talk as an analyst earlier you seemed to think that.
The president if you read between the lines who took that public option and threw it under the bus last night that although he gave -- some -- service.
If you were if you look into what he said it's less likely we get a public option more likely to get a coop or something like that and that's better.
Than the alternative -- the health care companies -- think of those those stocks in particular.
Well some of the stocks are up but I think over the long term we're gonna have to watch and see which companies are going to be profitable and which ones not.
Government may force down profits that they'll be able to take and it'll be an interesting bit to see the competition coming out.
-- -- you mentioned that.
You're looking at a jobless recovery we're just talking Robert -- about the jobs numbers -- jobless claims out.
Many people are in your camp in this and that the real true economy can't really turn around so -- -- until we start hiring again.
When do you foresee that happening -- -- -- this point we're looking at 2010 being.
Well and we're seeing companies laying off fewer people we just aren't seeing people getting hired yeah.
And that's going to be a real telling time.
And -- people are employed they're not going to be -- going out and buying those cars or purchasing their new home and even though interest rates are really low.
People can't afford to refinance if their properties down in value even with these great right so it's hard to take advantage of those things.
But people because of this -- saving more.
More than we have in years and so that's a positive thing they're paying down debt they're being frugal -- -- do some of the things that they haven't done in years and years and years.
Yeah they they've had -- -- its it is a different -- that existed for people so there so they're getting used to that now what's next.
One of the things people what about sometimes next year or something like inflation for example I understand you're not a -- and what how do you look at that.
And and and try to figure out what's next economically because that's they have to make investment decisions least in part.
I don't think inflation is going to be a problem this year and probably not next.
I do think with all the spending that we're doing there is going to be inflationary pressure I think in 2011 we're gonna have to make some adjustments.
Things that we'll have to look at as something that you know you might wanna go oh my gosh you've got to be kidding but something that the store of value like real -- right now.
Prices are really low.
But and it will take several years to recover especially -- our market were kind of the epicenter of a bad bad real estate market.
But it is historic value of something that will appreciate the same thing with the metals commodities.
Building materials those are things that will go up and as we expand China is another big source that keeps growing and -- using a lot of our materials we can I -- the great.
It's a great emerging market that is gonna continue to ground.
But that's that's what interested me in your notes the most is that you still like the emerging markets and -- haven't both sectors pretty much -- -- decent run.
They have they have I do think there's more in there I think you have to be careful.
But I do think that there's a good run there I know -- -- pulled back really severely in October last year and a boy did quite and the emerging markets but.
What we're going back and we've had a nice run up and I was I've been very very pleased with that.
Also another good area right now is high yield municipal bonds the ratings changed so much last year.
That that credit spreads widened so much they're narrowing now.
But there's some good deals out there in in bonds and you do need to have a balanced portfolio one of the things that I think.
People need to really -- at the risk tolerance -- baby boomers kind of where the stock stock jockeys who thought they could ride that horse forever.
And now they've fallen off the horse or -- jumped off midstream last year.
And said what why do I think they need to reassess their -- this time around and say is this really where I need to go back and stop feeling like they're missing the boat.
Find out that they really need to be on the well let's -- insisting that that is the whole baby -- Our generation I mean they got -- unfortunately they're very close to retirement.
Reassessing your -- could potentially mean stay in the -- away from the -- equity markets at this point between now and retirement.
Well I -- staying away you do -- equities for growth.
But -- you do need to reassess RU really as aggressive as you thought you were maybe you haven't looked at that are ten or fifteen years.
And if it really bothers you that much and you're not sleeping at night.
That's probably not where you should be there are other areas that can grow and provide steady income and provide her retirement.
You do need to have growth and equities in the portfolio and -- matter how conservative you are because of inflation.
Even if you're earning then come and you're taking everything out you need something that's gonna -- -- the pot so you have to keep equities in there it's a matter of what percentage maybe not as much as you did before.
And for the younger people.
The -- if you're working you gotta get back to contributing to those 401 -- and -- People panic they hold back.
Those are the best time ever it was a huge mistake they should've kept dollar cost averaging even though prices were going down they bought more shares at a cheaper value.
Yet this is the time to keep funding that retired -- Really ultimately succumbed to start matching again too we saw that well that sort of was there in -- simulator and yes for people stop altogether so.
That really hurt back.
No I think that Welker comes ahead of companies need to feel comfortable TO SO that they have profit so that they can match.
Deborah what are our -- our viewers wrote in -- asked that and just said that -- increase seen injuries ultimately drag on economic growth so what's your outlook than for GDP overall.
Well I -- I have growth I think it's going to be slow I don't think this is something we're gonna bounced right out and be on our way.
There's trillions of dollars on the sidelines of money's going into the markets.
And it just like we see a pullback in the markets we see seeing it come right back in the same day or very shortly there after there's a lot of money on the sidelines.
But again companies and people need to feel comfortable before they come out become consumers.
-- -- -- people in rooting for this pullback in stocks and in the end you know.
Bulls and Bears liked him and his people that are short the mom and -- -- we touch -- -- you know he thinks Armageddon on the way and he's still real short the market he gets -- -- cable or more -- to say that was the thing to pull back 1015% -- -- and and it doesn't want to Denver for whatever reason we're still -- edging higher than.
And that's because we have trillions of dollars on the sideline now that being said I do think we will have a pull -- between now and the end of October 5 to 7%.
And I think the smartest strategy is no one knows when the bottom of the market was until later and history proves that is the fact.
Some I would dollar cost average and we've been dividing up clients monies of about eight weeks and -- -- averaging him over that eight weeks we may not hit the highest or the lowest point.
But it's a safe way to get an -- markets are corrected and I think that's prudent I think the markets will be higher at the end of the year I do think people do want to get in but they -- -- get in carefully.
And they want to get a in as much as they feel comfortable that they feel like they can stay the course and is prudent for the rest column.
One last question what do you think about taxes haven't -- hasn't play into this situation because clearly they are going up we don't know when we don't know how.
Ended twelve -- 2010 we lose the bush tax cuts so.
Lot of people plan for this.
Well that's -- be difficult that's one of my client's biggest concerns most of my clients are very high net worth clients and -- in those top tax brackets and paying more is not.
Something that pleases them by any means but I think we'll have to look -- -- municipal bonds will have to look at things that.
Our growth oriented that are not paying as much an income which isn't popular of course if you're trying to retire and generate net income.
We'll have to look at things that generate income that might have offsets like depreciation.
So that we're not being taxed on that full amount of work -- like interest -- things that are ordinary income that are fully tax those are going to be really tough.
OK Deborah thank you could talk to you thanks for coming on.
Great to talk to you thanks so much -- -- -- -- Daniels and financial group out in Vegas.
I think Vegas keeping his right art.
So it's a Christmas show we do have a lot coming up by David Asman is going to be here this -- and today we started out at the end of the hour all week long about.
Kind of our story of the year getting up to a year anniversary of Lehman Brothers both of us would rather at the start of summer series after Labor Day.
The that this.
Company that comes in and you can charge your phone you can charge your iPod by running from the general based on your movement.
Yes it's pretty cool right.
It's very -- can't charge a laptop now.
-- wanted to -- their flashlights and I you -- yes home.
So -- talk about that and more on health care congressman Kevin Brady -- Texas Peter Barnes.
And next up fantasy football the NFL season kicks off tonight Tracy Byrnes -- worked up about very very excited about the titans.
And the Steelers -- -- -- talk about football was to -- first foxbusiness.com life.
Opening day or opening night for the NFL football season so we all thought we -- by tracing the meeting yesterday we -- thought we would talk a little bit about football.
You're -- football for America to Europe.
Okay this is a big joke actually actually the company is called fantasy planet and Chris kind of appreciate this.
-- -- -- -- -- We can always turn three yeah.
Why make -- chain I that's why I was invited to the -- let's check with the comptroller of I -- -- the nod from my side immediately decided to SA and its you get than not is that it isn't time for fans I'm.
-- would wayward -- them football now.
That little -- people think his -- Who can all kind of playing Utah they have that I I would agree on an old story I gotta tell you you know 22%.
Of the US adult males yes underrated with the -- much -- and held prisoner rights and maybe now -- we wanted to demographic right.
The 20% of adult males that have Internet access yes late fantasy sports of one -- border and others see baseball apple blows that's the most populous so.
You can see I'm sure the percentage of those that like Monterey -- much higher than 20% but still.
-- marketing standpoint.
-- -- marketers look at this and say 20% that's a pretty high percentage of my -- and it's also very.
Group of individuals that you could really argue with certain advertising campaigns -- -- -- -- -- on this thing people are obsessed with the release.
-- defensive football level I actually fantasy college football and I actually put fantasy NASCAR of millions on the it's the not.
How to play it on the defending champion Obama -- But -- and why am dumbfounded that people are spending money even in this economy on the stuff are spending less.
And I expensive -- -- most leagues are free 90% of the -- out there free.
And only the handful that aren't three.
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- And think we're pretty Gray Davis real quick he's from fantasy planet dot com Oklahoma City -- -- know about the website Craig but we all do and he thought it was something different fantasy planet -- significant dirty mind Tracy Byrnes hit artists.
Tell us about these numbers by the way Craig Chris was talking about how you know so many adult males -- into it -- the numbers just keep going up and up right.
Yeah it's that it's an upward trend we've seen even with a down economy we've -- fantasy football take off every year we see it ten to 12% increase in the number of people playing fantasy football now.
The -- go down the number of leads people -- -- but the amount of money spent in terms of playing fantasy sports and in essence fantasy football has gone -- -- the last couple years why is it going this kind of the economy's a mess as we talk about the show every day but this number you know more people are finding time or money even in some cases to do this -- what do you make of that trend.
I think it's just the fact that they've got a shot to win money you mean it's -- -- just the thrill of playing any opportunity to win some big attachment that's why you see those big tournaments that the -- -- -- -- -- India FF open championship -- -- -- its first million dollar champion last year so.
The opportunity to win a lot of money is is probably the biggest thing that's driving people to play right now.
-- it might have a total novice here but is it a lot less take.
Going to the movies I mean I can still -- got even the ticket is fifteen dollars to go to the movies I don't have a tiny Castelli picnic it's a Broadway play but -- -- pull off a movie.
This is in a load of money it's entertainment for me.
Even if I'm struggling money's tight I can still afford to do is connected to have a really good time of my friends and children according to -- -- Yeah it's -- it used to be a hobby it's now business but it's still a hobby to those who are passionate about it in fact the recent studies and about 60% of people.
That admitted -- -- fantasy football are passionate about it and they save their money from December until August when they can plan their fantasy football -- rather -- in a locally get at work or whether it be.
You know one of those high stakes leagues there's an opportunity for -- in the in the first eight months of the year to save the money to play in some big big leagues and they they look forward to having these people are passionate about fantasy football and fantasy sports in general and they say that money.
And then spend it on 123 and sometimes for weeks.
Greg you mention the passion that sort of plays in still.
Advertisers out there looking for ways to really directly it's -- get passionate audience that I know.
Snickers and that's why India and Yahoo! has been involved heavily in this obviously with no CBS sportsline -- but.
Ford Motor Co.
Coors Light it seems like more advertisers are jumping on board here because.
This is such a dedicated group by you kind of see -- that year over year were really getting growth.
Yeah absolutely and in fact you know you look at the demographics and the average -- -- somewhere between 22 -- and I would think 45 and most of them are male but there is they've about an 18% female.
Demographic there and everybody spending money in these people are passionate.
Their college educated for the most part.
And they make an average household income of 85000 dollars and if people.
Grab some discretionary funds to -- and most of them have jobs which leads to the next question which we see we see this Charlotte time -- in the NCAA tournament is going on -- Al.
Much productivity Huey Lewis it's a serious question -- that it had everybody for the study out of -- how you measure it but job.
What do what do you think companies make of all the time that we spend too worried about our fantasy teams during football season.
They kept the companies that would have people were -- -- -- for yeah.
Silly thing you know I have heard there's been some figure that's put out there that companies losing -- billions of dollars every year because people spend so much time at work on line.
Second -- fantasy football team but in the same token you've got happy employees and I heard I heard a quote -- in fact this morning that you can't really take recess away from kids does that really.
Hinder their academic status that you take recess away from elementary kids -- -- with us we're just I was here and that's all we're.
-- Parker is not spoil this would know exactly Craig to fall on that I saw an article on CIO dot com TV information officer dot com about it.
Where they found ten and have -- estimated ten and a billion dollars in productivity is lost.
From the NFL as a whole people into watching the NFL are talking about the NFL are doing their fantasy.
And -- -- Chris has put out reports -- average of nearly one point two hours per week.
Spent dealing with their fantasy team so out of a forty hour work week.
One point two of those forty hours -- spent solely dealing on your fantasy draft.
McCormack another -- that aren't always not been funny if not -- we hear the thoughts does that replace.
One point two hours a week working on your personal finances to the -- well well you know it's all one big story -- Everybody's personal -- a lot of -- and up.
Your personal finances -- everybody else's personal finances and it isn't just.
Speaking of which is Chris and I try to get some this is some help in trying to win our respectively clear consolidating -- doing NFL.
Craig you I get a guy in my block actually -- in about five weeks I don't know how to -- identity.
Without -- -- -- you what you -- you've got to begin -- this thing you're working your website how many teams you have fantasy teams right now.
I mean twelve leagues right now twelve -- I don't know if not twelve -- -- at my college NFL.
-- -- all this and -- Melamine that there are college leaked out there but not nearly populate will definitely a case.
This is what -- -- it really.
You know I know I didn't but I have.
The guys late addition to really let the guy has quickly and indeed get the same response from basketball and NASCAR as Cris Carter apparently -- -- do you get that same kind of enthusiasm.
From all those other leagues as well.
Now and if football is clearly number one in fact -- -- a recent survey of all the people that hold us that they played fantasy sports 91% play football and there's a big drop off the baseball which is an export.
Basketball's actually kind of on a downtrend -- up a little bit -- you mentioned you like NASCAR got a little bit even fancy ball is up a little bit I think -- replaced now.
I do I play -- seven defending champion I've been on the podium every single year.
We haven't you -- is this -- NASCAR.
Seven NASCAR scene with we we've got -- In fact we saw the numbers that we -- that we got something called the big -- where you have an opportunity to pick drivers.
And they compete against each other and you can we cash prizes were just taken drivers are back to football for a minute that was the sleeper -- -- younger viewers -- like that mean they're looking to pick up created something like that.
And get a little -- for James that.
A James Davis rookie running back from Clinton he plays with the Cleveland Browns and an offensive line is a lot better than people think.
Jamal -- -- 3031 years -- this year he's on the downswing of his career James Davis can do everything you like to -- he had 47 career touchdown that the university of Clinton and that guy had was phenomenal in the pre season James Davis is the guy -- still not being drafted in 42%.
I think football dot com leagues -- like I -- -- out -- go you gotta look at the back of running -- -- -- -- a lot of carries the ones you don't pick up on the -- your -- that.
You know might not figures bigger leagues and all the time actually taking you know so many easily really got to drill deep to get -- second and third acts incidents we all day on -- And then I think cheerleader league championship mean they should be able to pick corresponding cheerleaders for -- it's very good points -- us.
While it's like for example buried.
But we've agreed with just about everything wrap this up you know the University of Mississippi I got found all these studies on this you -- all this is the oldest actually ran a study where they found that 60% of those that late fantasy football watch the pregame shows where most of us don't and what is -- watch the game -- that's great for advertisers.
50% more than 50% don't drink beer during the game because all -- business for them.
They don't wanna get done you know obviously that was exactly what happened and are drafted here at the -- -- the I cannot live rounds -- -- everybody -- -- -- this guy did not have after the draft the beer but during the draft focused he was fifty -- the Lebanese people in this survey -- out loud at the TV during the game that they found in and they also found.
That fantasy football can be used to teach math.
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- friends at home again.
Right but thank you sir appreciate that hey Craig good to talk you thanks for coming on.
Thanks for the guys -- -- guys appreciate -- -- on let this season running back out of Cleveland that's right with all twelve your -- -- -- -- McChrystal talk about we'll have you back and we do our fantasy larger segment and I know enough for -- -- modeling but I don't lobby -- judge shots.
But that's I didn't understand -- -- fantasy NASCAR more baptists.
I'm -- -- I'll be out think you could ask Peter Barnes he's coming up next knows a little bit about everything and he's also gonna get to health care.
And we've got David has been little bit later on much more still to come we're just get warmed up congressman Kevin Brady and vegetables with -- on foxbusiness.com.
I think you distinguish yourself very well Tracy of that fantasy segment.
I think you did you held your own so to speak -- and -- the economic fancy leaguer now but it is the contribution she did make Corky I thought to keeping the conversation gone.
In the wrong direction coming up like peg leg -- -- -- of our -- -- -- of I didn't see now to talk about the big speech last night Peter we will not I promise ask you to comment on that at all.
But the big question for the president is whether he was able to pull off what he wanted to I guess -- -- for some polling numbers really got an idea but.
What's the what's the take down there inside the beltway so to speak.
Well I wanted to follow on in the last segment -- saying that you know health care so bloody complicated I think Chris and Craig should covered -- I've got all the numbers.
That's you know -- and there are and there are some not people that error criticizing on this proposal that's fantasy health care so why not right we don't have to -- back.
But well today that reaction down here is is just got a breaking down along party lines are getting a lot of Democrats that there are saying hey president -- a good job Mendez proposal is solid.
And you get a lot of Republicans who are saying hey you know -- -- don't like this public option this idea of a government run health insurance company to compete against.
Private insurers because they fear is a back -- way.
Two -- government takeover of health care they're also still concerned about the big numbers out there the president saying last night.
That his plan though on that he's trying to cobble together as good value he paid but across from that of about 900 billion dollars.
Over ten years so right it doesn't look like he changed a whole lot of minds but he you know he definitely.
Move a little bit took towards the center by talking about you know trigger.
The in the planning case spending does not.
I come in has projected that triggered her -- would trigger spending cuts that if the program spent too much money right did talk about medical malpractice reform yes big issue for.
A lot of Republicans and so.
We'll see I did see one.
Very quick spot poll that was not as scientific as as regular polls that showed the president got a nice bounce and -- -- support.
Right after the speech.
And that's the same thing we saw when Bill Clinton did this in 1993 he got a nice bounce too but at the end of the day.
Clinton's efforts fail so that just because the president gets a bounce bounce in the polls would show we'll probably see another polling at the comes out and a couple of dozen Nestle doesn't end that I -- have yet -- -- -- it's a done deal.
Wanna give you my minor minor league analysis on this a little bit I'm looking at the health care stocks today Peter Cigna is up.
Five and a half percent Humana is up three and a half percent you can look crime most of Maria UnitedHealth is up.
1% so the take a way to -- as an -- about this earlier today who agreed is that -- see you mention the public option a move towards the center.
Is that that public option in this is a real big surprise now is off the table that the president implicitly did that last night and in leaving the door open and that puts the ball politically and Nancy Pelosi -- court because now she has to come up with the votes.
In the House of Representatives for all these people that have come on our air and others in -- -- not vote for the stimulus is a public option.
Now she's got to figure out how he's gonna make them vote for a plan has the public option.
Yeah -- absolutely relative the public option cannot pass in the senate so that that's that's the chamber that we're watching here because that's where you have that.
All the issues would have to get sixty votes to get past filibuster.
51 to majority that simple majority to get through this process called reconciliation if they want to jam this through.
And and they just that the Democrats just don't have the votes for the public option.
In the senate appoint him democratic senators have -- -- An opposition to that idea moderate and conservative Democrats but the way this kind of -- -- will play out is that there's there's that.
Nancy Pelosi will still try to get something.
-- -- public option or at least something with a trigger for public option.
Through the house and -- the senate will approved its package there'll probably.
Come down something a bit closer to the package that senator Max Baucus.
Announced day before yesterday from the Senate Finance Committee it does not have a public option that would build them with the -- the the way baucus wants to -- with co ops helping parents call -- to be nonprofit.
So and then the two chambers will do their thing and then they'll get together at a conference committee and that's where we'll probably see the public option die.
Or at least.
He pushed off if if people except the trigger so get it right the help that health insurance companies.
That's good for the health insurance companies but also good for the health insurance companies.
Is that the president's endorsement.
Of the individual mandate he is saying that everybody's gonna have to get health insurance and that could mean millions of new customers for health insurance companies -- But Peter I made a couple of really is that.
Public plan wrapped in a different box with a pretty bow at the end of the day so they're gonna prepackaged -- just to sell it just to get it out there.
Do things I didn't hear last night won a timeline on when he expects this to go through how quickly he wants this done.
And again how we're gonna pay -- you know I went -- baucus is.
Bill his suggestions at the end of how he's gonna pay for this come up with the money isn't given nickel and dime you six -- till Tuesday to come up with this.
People are going to -- -- in their pockets sure they're not gonna call -- across the board tax hike but you're gonna feel it every other way.
Just to come up with this money we didn't hear a whole lot about that though last night how we're gonna pay for the so called 900 billion dollars.
Yeah that's right and most of the presidents.
Aides yesterday when their briefing us said the president was not going to get into the weeds.
Last night on on some of these very questions.
But so we can we can see you know the outlines of how they're they're gonna pay port the president.
Did talk about.
You know waste fraud and abuse in Medicare -- cutting that and and so that's remains on the table of course that fields -- whipping boy here in Washington waste fraud and abuse.
It's -- -- you know everybody says they're gonna do that it and it never happens but then.
The president did specifically endorse this idea.
Of -- are assessments or taxes.
On health insurance companies.
That provide these Cadillac.
Coverage plans you know the plans that are there -- the premiums of 30000 dollars a year in their gold plated and all that.
That's so he did endorse that that was a new.
Thing from the president that an idea that came from senator baucus and he he embraced that -- so that's another payment mechanism what we're waiting to see.
He also what -- actually no he didn't he didn't endorse.
-- endorsed an individual mandates you know in in all the proposals people who do not.
Get who go -- by health insurance and then thus will be forced in the state Medicaid.
Or into emergency rooms to get their primary care.
They they house and senate plans do imposed.
Penalties on people who do not.
Who do not enjoying -- you know buy into the system senator baucus for example would charge up to let that it's 950 dollars a year for an.
An individual for 3800 dollars per ballot so that is a source of funding as well.
OK Peter great reporting as always thank you Peter -- to the White House for us today let's bring in congressman Brady congressman Kevin Brady out of Texas who.
The second time he's been on the program he's joining us from from DC -- congressman Brady did see you.
And here's were caught a place after the fumble on things senses tell us what you heard from the president that may give you.
An idea about whether or not we can you come to get a get a bill done by the end of the year what are the odds.
Well not good.
We heard nothing knew it was the rollout of New Coke.
You know -- -- from -- public's not buying it in.
I was surprised he spends much time attacking us and attacking others in -- that the -- and by the way.
Can we start dating again missing Mike and -- awfully -- approached him -- given a joint session of congress very.
Very biased area partisan speech.
So I I just ask our reporter Peter Barnes about this that there was no timeline no he didn't offer anything silly and even left a hole -- -- -- -- hoping very gained.
As you said it was same thing different day.
Pre packaged information.
No timeline so didn't say I want this done by the end of the year this probably will drag into next -- at this point.
Yeah I would.
Think he would in and especially in our town halls every poll.
The public wants us to go back to drawing board.
-- go back and onboard now I mean come up with some sit down together come up some real solutions may be good Smart small reforms and then build on them.
-- out that just don't think the president is really listening to the country.
All right let's try to figure out what you guys agree on you know Republican Party in that gets criticized gets criticized by the Democrats often is a quote unquote party of no.
In reality it's very difficult for Republicans to get any kind of deal on the floor because the leadership is democratic and it's hard to present those.
Bills and Nancy Pelosi in the -- -- my house is not gonna bring the bill before so.
You know you have the fourth -- on the show let's talk congressman about what.
There is agreement on as the president said that we agree about 80%.
-- and others -- -- that number is that is that true is that accurate you pretty much agree on new pre existing conditions only such things wouldn't want to see done.
Yeah I don't know about the -- -- I do you think we ought to start with besides fix Medicare first.
-- coverage covering people who work for small businesses -- part -- Those who -- in between jobs in those who have preexisting illnesses I think -- Agreement we need to cover him.
They wanna do with the government -- we want -- actually kicked down all the state and federal barriers to provide.
More private planes for people so just a huge philosophical difference and how we get there but there is agreement we need to get there.
I guess the couple -- though was that he did indicate that is planned did not offer coverage for illegal immigrants.
He also said that federal funding would not go towards abortion that have to appease some certain right wing groups.
-- he did talk about the death penalty of death panels he called them just in a life suggesting that -- you know there's been nothing out there about that.
I mean that's me with a little bit of a shocker what did you think when he said that.
Yeah -- Prize you know meet the people aren't buying the this home and to the deficit.
They're not buying divorce an issue because it's so well informed about it.
They are buying this won't squeeze out private planes everyone knows it will we already have cost shifting today in it will get worse so.
I guess I'm still puzzle whose audience was it couldn't have been.
American public there too knowledgeable maybe it was Democrats in the chamber.
While the Republicans in the chamber of my guys don't want that to me that's one -- certainly -- -- what's this guy Joseph Wilson Mike by the way.
He's a very southern gentlemen very slow to anger very even.
Mild -- I want him last night -- says it's hardest to -- and I wasn't.
Well yeah I mean when you let your emotions get get a better view it's never good -- is a partisan speech unfortunate vote of.
Hours and response.
Sir I know you are also vehemently against cap and trade.
So we roll this health care into next year you can have cap and trade resurface on the table again.
You have got a lot on your plate here and against all these big blow out policy that they're trying to push through.
How do you foresee all this playing out.
You know cap and trade has been looking in the corners gonna come back but.
I think of that vote were held today in the house it wouldn't pass I think the -- of the country's changed.
Dramatically and if congress isn't paying attention -- the White House isn't listening like they're not on health -- they're gonna have more serious problems they imagine and as you would imagine.
There's some really good solutions on energy like they're on health care if they just sit down.
This will work.
What's getting it done on health care do you think -- -- put on your political analyst hat for a moment as opposed to the politician -- because.
You know not to minimize the impact that you could happen as we mentioned earlier the Republicans are marginalize the -- in the House of Representatives if that if the Democrats wanna get this done and are united they -- -- -- -- But the problem is they're not united there's different factions of that party -- liberals that want.
-- government takeover more of the blue dogs who -- against the government option.
So do they come together are you you think they're good against something -- you guys sore or how does it end up.
I think they try to jam it through the house I think it stops in the senate in the have to go back to drawing board or.
We try to piece -- through reconciliation.
Both of those are really bad options especially since as you said we're we're ready to go with some some good ideas were -- sit down.
Questions will bailouts to do it.
Yeah I don't know I don't know one of the things I've heard is that it could hit it could pass in the senate with no public option -- -- Bob -- and then it could pass in the house with the public option because a lot of support and once they going to conference that will try to iron out so if it comes back the house with no public option.
-- -- be the Liberal Democrats would then not vote for -- Then we have nothing -- You're right now they're saying -- They're saying they're not gonna vote for -- but our goal is not to kill this bill.
Are our goals to have real real reform in.
Just not not a government run reforms and give us a place where we can compromise.
A logical read -- reasonable.
Place where we can come together and get something real done.
Covering small businesses by lowering their taxes and providing the more help.
Covering people in between jobs with the worker -- -- allows them to pick a point in the season -- with them.
From state to state and job to job in cover preexisting illnesses not with the government run plan but by some incentives in the private market.
That's -- is a great starting point.
If you had your druthers what do you have even.
Broached this subject at all at this point we came into this administration -- in the middle that financial crisis.
We should be focusing on that we are we're doing a lot of things I understand the health care system needs to be overhauled 2.5 trillion dollars lot of money being wasted.
But -- if you -- do this yourself from the beginning would you have attempted to overhaul -- health care system now.
Yes because there are reforms we need today.
But a different approach would have been to listen to the medical leaders in our country and say.
Break it down it's too complex and do it right I would have done it here's the first step of full war we're going to take over time.
To fix these incentive.
The radical surgery -- taking on today which again American public just isn't buying it they're listening they'll go back to drawing board.
You're in favor more incremental approach does a good question facing -- that's -- the criticism the president.
To a large extent congress and what do you think of the co -- -- vs the public option.
You know I take Barney Frank in his word when he says that give via public option -- co opt outs are neither one into the single Payer system.
I think they're both head of that direct -- you brought that up earlier -- -- trauma.
Trying to figure out how that's true I mean I understand what the public option and I heard Barney Frank say that it wasn't even an implicit common it was explicit he said.
If you if we get a public option this we want to turn this into a single Payer system.
Overtime but I don't get it with a co -- metals -- government run they're not government run and we have caught in -- we have.
Costs and other industries even in this industry to some extent.
We have credit union to the banking industry for example which a lot of people compared to this model and that seems to work out okay you know this is a privately held nonprofits right what's wrong -- that.
-- we start with six billion dollars of American taxpayers -- certainly not starting.
On level playing field it will be government controlled at the outset.
Really did it will go into a co op system and again I watched how Medicare part BRR doctors.
Started in became 97% of market I've watched how student loans from the government -- reducing the trade of small government option.
Now student loans from the federal government or two thirds of the market.
Any time the government starts it he grows into the dominant force and act act I've yet to be told -- the co ops won't evolve into that.
Now we're about -- happens on the line and again you got -- Money involved how could they not have open and there's not much difference when you put government money into the fund to start this thing and he's still got -- and I want they're thinking man.
Now I mean that's making -- -- and it did the government money as this is again is is going to be his first start up at the end of the day.
That's much less government involvement then maybe -- -- public dollar and which is a government run on the -- the Georgia campus.
-- -- -- -- memory in this bill co opt for public option after five years this new health czar is gonna have to prove every plan offered in the exchange.
And they will still be running.
The co ops at that point so you've got the pitcher.
-- the balls -- strikes not a level playing field.
OK congressman thank you good to talk to get out west do you appreciate it on.
Thanks -- -- congressman Brady out of Texas Republican congressman there joining us from Capitol Hill so.
It is it's it's like one of these complicated issues with it because the bills are all different so we try to get into it very interesting and -- I'm not woods.
He would tackle this.
Thumbs I -- yeah.
That was your question because that you're right that's been the criticism by present a lot of would say hey look -- economy we got a rating on Wendy's now the time.
And he says yeah it is it's just not the right approach so.
And to me again.
I'm not a political analyst the swollen worst traits but.
I I just get the feeling that there are a lot closer than it's made out to be.
It all the screaming and yelling but there is only a couple things and at the end of the day if you give up as the president did seem to do last night reading between lines the public option.
That the votes are there in the senate for the co ops and that it's up to policy to grab those votes in the house and then she might be able to do it because.
The -- if you're -- Democrat you could say well you know I've got to pass something that is change as opposed to being known as the congress that didn't get this done again.
Accept the political MacBook but I think you'll be right about that -- we got a big election coming up some of these guys wanna go out there back to the constituents and say for the record I -- -- back because they know full well if they don't get it done the Republicans say listen we -- this and we're -- and they can use that in 2010 whereas if you're Democrat you're gonna wanna have something to run on.
Even if it's not exactly what you have in mind anyway we'll -- that -- plays out next -- you're really gonna what.
By the way David as and so coming with his story of the year we don't know that might be coming up Lehman anniversary and -- -- start of summer series continues with it was a great.
A little idea how you can get energy to charge.
Some years devices that you like to use his running around.
Record very foxbusiness.com -- -- And satirist mark had to say you have kinetic energy hit -- -- -- and created by human locomotion.
Meaning if you run around you can make energy I don't quite physics for pellets that kind of call that Lehigh it was the physics to be non engineers.
That's fair and above the middle class -- well I've learned what Panetta was some very good at something out of it -- in the U joins us is.
We want to electronics and hopefully knows all heck -- a lot more about this than we do but the ideas.
You run around right Aaron and you create energy makes sense and then you do what.
Through your company with that energy.
Our company is -- and electric and we're bringing to market the and power which is our technology.
And other devices called a peg or personal energy generator.
So it's small device -- weighs about nine ounces and you put inside of a backpack or briefcase or purse as you walk along and -- human kinetic energy.
Recharges your mobile electronic devices.
While but not your laptop right.
We're not at the out laptop level yet but hopefully with the next two years we won't have to worry about that issue either -- -- things like a -- the shaker flashlights.
Right it is the shaker flashlights are using the -- -- so long.
We like to say that -- using the fair and a principal and a lot of principles of Albert Einstein.
All packaged in a nine ounce container that.
OK well without going too deep into its we have no clue what you're talking about how -- society -- you know I haven't had that under this plan that works is that time.
You know anything that has motion to -- -- goes up and down her back and forth left or right side to side has kinetic energy -- it.
And all we essentially do is tap into that -- -- energy.
We focus and amplify inside of the device and we convert fed directly into electrical power to recharge your devices put some of -- should've thought of this earlier -- -- -- -- at the -- -- -- -- you guys.
Well you know -- we've seen kinetic energy harvesting devices and smaller scale so like the F perpetual motion wrist watches I think that's a fine example of the Connecticut are acting like an analogy.
Let the battery like a -- to air all -- they rot they'd run because your own risk keeps moving so -- that being said you need you know there's those little.
Watch movers that movie I think -- year it's in stand still and keep it going.
So like if I'm in the car line in an elevator or something like that where I'm not moving anymore what happens then mr.
-- -- -- If -- yeah of course you can always keep on dancing or around you know when you're in a car and die as -- as you're going down the -- say let's take a commuter application and -- bumpy subway somewhere.
Will be able to harvest that up and down motion inside of the subway car also to be able to recharge your device.
With the pricing on this type of thing.
This is how everything is going to be a 149 dollars and we're going to be selling it through our website at green and power dot com okay wanted to come out.
We expected to be out in the marketplace before the holiday season.
Before the holiday season and will be you be able to use it on just about -- is that with certain phones or would you -- board.
We can go across the board we can charge and 90% of all common held -- hand held mobile electronic devices at this time.
Basically anything that you can charge what -- USB.
Type of cable we can charge also.
So the other part is it's a universal charger you don't have to have one specific for your phone and one specific for your iPod one device will take care both of us.
It doesn't store energy though right it it just it its use it for the moment and then what you have to redo it again.
That's correct and basically we put out the exact same amount of power as a wall outlet does relative -- device.
So furious -- plugging your phone into the wall for an hour and recharging it.
The same as plugging and our our device and walking around for an hour.
Aren't so you think this they'll be pretty bad guy bad and it's obviously why you're in the business but how what what what's next to me how does this grow it and -- Tracy mentioned laptops -- mean.
We're going to be able to do this with a lot of different devices not just the small ones eventually.
-- that yes that's true and other technology is very scalable so long as some of the other items that were working on doing research and development on.
Would be -- device -- -- wave energy can murder which is a much larger device about the size of a Prius automobile they would be out in the Great Lakes around in the ocean.
And it bobs up and down on the way it -- -- and harvest up to fifty kilowatts of electrical power.
Pretty poor people and excel from how we have to try this thing out when it comes on the market Aaron thank you very much.
And I really appreciate it and we'll do with this and and -- the company.
True about electric and that's a pretty cool device you trying to -- can run around him think -- -- my phone the with -- charged -- -- -- -- and you forget to turn this thing united and that's you know 1000 things from them too much going on too much.
Does -- -- summer figured out that wasn't really roll -- today.
From the Monterrey in the fantasy football.
Actually had a we didn't actually have a segment on Montrae but it feels like we did then today yeah that's why containing wet and actually David -- an audio effect you have to watch out he's coming up next.
-- -- -- -- -- -- -- -- that's on Monterey comment for David wasn't here earlier when we were tied at fantasy football.
And you thought we were gonna talk about Monterrey.
Simple to say the company called fantasy planet I don't think I was not far off -- I don't think so thank -- -- Chris kind of pointed out we always had shifted -- -- without -- you know.
Without a problem and -- the topics to -- topics David as it is here to -- -- Not talk about I had probably about -- I wanna see a demonstration of laundry it's it's as simple maybe.
Do you vanity lingerie poorly -- out as a money -- Always think -- and sit on the news.
Always think you're at the very least the third brilliant idea you've had to ask.
51 minutes are doing is about an anti gravity machine last night but I woke up from forgot -- -- so I'm not allowed.
Unbelievable that the -- like god so anyway all week long we've been having on we have liaison with Clinton on yesterday in -- -- -- or the identity.
The had a bit -- that are not count why.
Oh yeah that's right my highlighted that program the word -- -- we're -- Sylvia which a couple of talking about stories of the year to -- a little Lehman Brothers anniversary and no we're going to be talking about it.
Nauseam here as we headed next next week.
About your stated fact senator I think it's going to be health -- right now until guys are centered -- you have -- -- to senator what's happening right now but it's just it's such a big thing and it -- that.
In a negative way the Clinton presidency -- -- just the first half of the Clinton presidency I guess the impeachment departments are gonna.
Sixteen years ago when Bill Clinton held up that -- -- -- if I don't get a health care bill.
Across my desk that doesn't include insurance for health insurance for every single person living in the United States and veto I'm gonna use is going to be.
Well he never got the bill because it was never passed in the same.
My inevitable although if it doesn't if Obama does get the bill that he can sign and -- that's that is.
Introduction but he's got a different approached by the way he's willing to sign.
Something that doesn't include everything he wants them to think men have been a lot of -- good question I mean there was a there was an article last night between Karl Rove and and bill Riley about whether or not he had abandoned it.
The public option the idea of creating a new government health insurance to cover the uninsured.
Bildt said he did candidate I like god that's I was reading between the lines hard and I don't I don't agree I think he would say he's standing full square behind it and so apparently did close you sort of very angry.
So I don't know -- We'll see what happens but the bottom line users is still.
So much misinformation.
About what is or is not in health care bill.
Both by Democrats and Republicans that.
It's it's far too early due to sign anything until you job iron.
Our role as a lot extortion I don't -- read it the way you read it the whole thing was wishy washy he didn't.
Discount one add another he basically said nothing at the -- that was my point I'm wishy -- was that if he really -- this public option he would have pushed it aggressively and by leaving the door open to it he's almost.
You know implicitly saying as the president that.
It -- if you don't come up with this well.
If you have a better idea so to speak and that is a co op lawn -- to think about it if you're president you really want something yeah I don't I don't know they can lead that.
-- a lot of I gotta gotta gotta focus Sunday the headline which is this story of course even though it's kind of a minor story but that dragged screaming out you lie again -- talk about that you know again.
Even -- was inappropriate in that particular setting the guy had a point which is that the president still says 46 million.
US citizens are uninsured we got to cover everybody that's not true that's what they've done -- different now into that 46 million.
Are not US citizen all right so he's got to cover 46 million he's going to be covering people who are not you as you know the clubhouse and the last day or so has really started using the number thirty -- -- as opposed to 46 million to your point because they realize that that doesn't sell about a -- lives right -- the -- a couple of weeks ago to say but what.
Last couple days we were just talking about as we got a big election coming up so.
The odds of something getting done are pretty good right we're going to see some sort of reform I don't know I really don't we just remember what happened to Bill Clinton went and remember that I -- I mean they shouldn't grow call these town -- the memories of her town town hall meetings because.
That really does I think represent the fury of a lot of Americans out there who don't want another huge government bureaucracy the idea of you know we we understand that that health care cost too much is too bureaucratic yet to -- -- But we're gonna have less bureaucracy by creating a another bureaucracy it doesn't make -- -- make sense to me and to millions of Americans and until he can deal with that question.
I don't think he gets -- do you think we can go -- -- -- -- talent -- with.
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- Health care but we've had all these huge stories we've all covered for the past year -- Lehman Brothers and even if you throw an earlier Bear Stearns and Fannie and Freddie in the stock market crashing and and everything else that's Hartman.
The election and the -- health care.
-- -- just because it's the it's the line in the sand that the American people are trying there're there are a lot of other issues that are important park I've been against I was against our from the beginning from all these bailouts.
-- -- -- -- been talking about it for a long time -- scoreboard and other shows.
But but this is the first issue with which the the American people -- that -- essentially no further we've -- all of these bailouts all of this expansion -- of government control -- -- -- -- Bruno did -- -- line here if we didn't have all those other stories -- and the other and -- stimulus and everything -- that health -- would have.
Would have had this much backlash that's a good question that's a very good question Ivan -- heard that question -- before and -- I don't think -- I don't think it would have -- -- backlash had he started hitting it of course he had to deal with TARP because audio -- up by President Bush him was not it was nominal Bob went originally it was a it was a it was a bush failed plan.
And had he not had to deal with all that and he started with health care -- might have had a better chance of passing.
But you know because TARP and all that got the American people used to these billions numbers I mean when Clinton was proposing trillions and trillions you're right we're talking millions -- -- gonna cost millions of dollars and there was backlash and I -- -- spend that kind of money we -- them company now here we are talking billions and trillions.
And I think maybe that -- in the way it was a blessing the financial crisis because it didn't -- the American people up they're starting to realize what's happening down there and I find that.
You know having said all of this stuff that health -- is -- wondering it is we're getting close to Lehman anniversary of the -- all the Bear Stearns -- stuff that preceded it.
The idea that these these banks that the saving the TARP in the saving of of the banks that were saved after Lehman went down right.
Prevented another depression I still don't buy it I don't know about you guys but I don't buy -- I.
I think there is something to do it to be said for creative destruction.
Bet if you allow no matter how big the institution if you allow them to fail they won't totally failed completely they will break up and -- parts and create new enterprises in new banking institutions that we have not seen before.
I don't think would have been the end of the world if we had not had the hardest part about that is that we will there's absolutely no no way to know coming.
We could it's a completely academic discussion because as people who do support it would -- -- -- -- the alternative unemployment what do went higher and they don't know that.
But they're using models and saying -- we go to higher unemployment if we didn't do this and you're saying well we should've done we should have done -- should've let the market figured out.
And and we don't know really don't want to do what we get -- -- about though is that we haven't seen the end of the banking crisis that we've seen the -- first.
-- the banking crisis but whether -- 234 -- more actually come I don't know but they're going to be more actually come and go be a lot more bank failure to.
-- and you know -- -- campus bars I don't think we should have done any of this either but to your point -- that it going forward what we're gonna see is massive regulation.
And in typical DC form we regulate.
Behind people so -- And we've moved not mean really the brilliant -- he -- -- technologies will have a good time and the next and that's bubbles forming as we speak and we're gonna be regulating the old ones that probably are no longer -- as we had folks.
Not from scoreboard a couple of nights ago who started all these little boutique firms they're all of these unemployed.
Bankers and -- have been thrown out of work because of the crisis.
They're not just step picking up a new profession they're starting little -- so that -- shadow banking community -- pretty much disappeared in the first wave after Lehman is beginning to re form there's a new group.
Realizing that there's a lack of credit out there sure a new group of boutiques are saying she would get all this cash from the sidelines a couple of trillions of dollars in cash and size people who won't invest in the in the market.
Maybe we should start boutique firms and start -- that cash out with clean balance sheets which is a nice way to start them.
All right I've been great to see -- there so good chocolate and another hour.
Back what was quite an event.
Up at 4 o'clock Bulls and Bears haven't -- what I -- Phil -- Jimmie Johnson's productive jobs we also you know this this did what I tennis star Melanie Melanie -- yeah we have -- -- who's one of the best at tennis coaches in the world he's -- -- be coming -- talking about young stars of -- there are a lot of sports tonight yeah I think any of all the more reason -- -- Panel tonight I think I -- I.
America's nightly scoreboard I -- has been at 7 PM thank you thank you very all right guys we'll see tomorrow -- -- dot com live.
Good eastern time between now and then you can check us out on Hulu and iTunes -- -- all our lives today.
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