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All right so this is foxbusiness.com.
Live hello everybody thanks for joining us we're pretty good news if you're bullish and -- good -- as well -- -- three points on the day.
Like I always say but to our new viewers out there that watch a strategy room that maybe aren't accustomed to foxbusiness.com.
Life is better than a sharp stick in the -- Tracy doesn't like that very much but then again I -- -- -- my dad used to CNN.
Really that's -- accident I like it because you guys -- -- Really when I think about it getting shot.
Yet again lullabies cement -- these are all better than shots that in the -- so it really is not really very good thing.
You know I'm -- of what would I have sharp stick in the -- is horrible.
Everything is vet and a bit of a hundred down a hundred cities is once -- that it has got to Kenya I think it's the thought for everybody -- that's a thought for the day I haven't here's a thing were up as you said a 156 points.
Really tell you why can I mean can you explain why we got.
Small business optimism down consumer sentiment down we gotten zero to know volume.
As I said earlier a trader from UBS said that yesterday's trading action.
Was a waste of car fair and clean -- if you hit it -- you came in basically -- -- but really even a light volume you can make a lot of money on -- to and I mean -- -- but yes people out there and -- that's around -- -- it's on the day traders in the world of the Charles pains and that locals who have come out earlier today to talk about their picks those guys are making money.
The smells like us that are on the sidelines and -- and a.
And you talk about -- momentum he got down seven days in a row leading into July 4.
Then coming back from the July 4 holiday we've been up five sessions in a row and if this continues this afternoon they'll make six in a -- so a lot of momentum plays right now in -- marketing yet but the -- Charles Payne.
On Barney company -- today said it best we're range -- it seems like we're just off to the races he over the last five or six days but we're really not because it is making up for lost ground in the beginning part of them.
Okay it's display in this to me.
You got Alcoa kicks off earnings season every year every season I should say -- -- quarter -- Alcoa big aluminum maker Arab world wide multi national company.
Last couple seasons they've had dismal earnings and everyone writes it off as I Alcoa they're no longer the Bellwether real economy there here we -- last night out welcome that would decent numbers.
It -- good.
You may have for aluminum is up you -- yeah.
And the markets -- up to the race aluminium.
That's Olympic gold that your aluminium and -- what the hell is that safe to explain -- to me because that's that's is more fickle and in my email then a thirteen year old.
-- it is -- with CSX also kind of confirmed.
Yeah Alcoa gave a CSX that it I think is more important l.s proxy it's a rail.
They said was ship and a ton of cars this quarter vs last quarter that would make sense but it does bode well for the automotive industry they say we should put a lot of metal.
Now not necessarily though.
A great deal -- that was -- wanting you look at this report -- lumber only up 2%.
And -- year over year from second quarter last year that tells you hey it's sort of the leading indicator of housing.
If they're not shipping on lumber around well they're obviously the home -- are not looking for lumber -- -- not gonna make.
-- to because of -- -- immaterial basic materials stocks up today aluminum prices down though even though demand up against some may need actual rally not today would have now.
Be peace in the news -- yeah well a new cap if he hadn't seen live footage of the the spill itself underwater looks a whole -- -- lot cleaner.
Than it has in the last eighty days since the tragedy the end of April and Shapiro joins us right now.
They see it right there look at that he needed if it looks like we're at least making progress.
And -- -- joins us from the lowlands right now Adam are we indeed making progress and what's the timeframe before we can finally.
Get a visual this underwater leak where there is no -- oil leaking out.
Yeah well there's still oil leaking out they've and they -- not seeing it in this getting the closing off valves.
On the new cap.
And if it works and if the testing they're doing is what they close those valves there is pressure down below they want to make sure they don't cause the the pipes which by the way are not made of aluminium there.
How much stronger than we call but the pipes below ground won't -- and if it's successful than what we'll have a places a cap.
That will essentially seal off the well but not permanently and they'll be able to then they got to take the oil to the surface because -- the pressure issues.
We'll take you out of the surface they have this new tanker on top as well some of the -- the you've heard about the helix producer.
It's now collecting over 121000 barrels well today on top what was being collected almost 45000 barrels a day when everything is -- -- that if this works.
They'll be able to collect up to sixty to 80000 barrels of oil a day which is essentially the entire league.
The golf will no longer have oil going into -- that doesn't mean the problem is solved that relief well they're digging his within thirty feet.
Intercepting the problem while the macondo well and he will intercept.
If that works they will then inject cement.
If that works the thing is dead and over and that's not till mid August.
-- people have their fingers crossed that and that's the latest but within the next at 44 hours we could have a statement from BP.
That this new cap device and what they've done -- finally stop the flow of oil into the gulf but.
You still have millions of gallons of oil floating in the gulf and we're actually -- -- it's -- on the coast right now but we're in new ones because there's a hearing the -- -- having hearings.
And they've already had testimony from no which is very I don't was -- shocking it will disturb you.
The oil that's floating in the gulf.
May never reach the surface it will just float in the gulf and within the Earth's oceans for years as droplets of oil.
That -- to watch a punch forward to what this oil does it mean it has been seen in and other toxins.
And they gave us a list of Dead Sea animals they've collected already 643 turtles collected 400 before -- 62 dolphins collected sixty -- So they're not you know that this is good news that they might stop the flow win.
They still have millions of gallons of oil floating around and also the impact sushi lovers bluefin tuna.
Gulf of Mexico is one of the only spawning grounds in the Western Hemisphere.
For bluefin tuna they won't give you they'll they don't use the -- severe they did say there will be an impact.
Because this leak occurred at the end of the bluefin tuna spawning cycle and so.
Not optimistic not good news on the other hand based diet that looks that potentially it stops.
The oil flowing into the gulf and we'll get confirmation of that within the next 24 hours possibly -- that -- but that.
-- -- well Adam thank you so much be safe down there and thanks for keeping us updated.
You -- guys.
Thank -- -- -- -- down in the French Quarter in New Orleans and hope to cap works in the naturally can say they keep -- the next 48 hours a critical that you know we.
Unfortunately we've been here before so looks a little help -- a lot better -- certainly does we certainly does but to say that I have my.
Skeptics -- cap on is an understatement.
I -- we go from Louisiana out to Chicago now Paul -- is with us managing director at Dearborn partners.
We gotta talk about this market you know Paul we talked to Chris and I are talking earlier.
It's from the outside look at it looks like it's off to the race is on the flip side though it's -- -- Consumer comments -- -- is anemic confidence is down so how do you read this.
Well I think really what you made the comment before about the CS six and Alcoa earnings.
And Alcoa was a little bit better than expected and I think the markets are -- only because as you mentioned it's usually a bad report that he was actually pretty good.
But I think really the the mover more than others who is the C -- and the comments from the CEO this morning.
-- indicated that at least it's getting better.
It's not ramping up real fast but it is getting better and that's really what the markets are wanting to hear so they're focusing really more now on the corporate common theory.
Less on the economic data data -- Probably for the next couple weeks or so.
-- -- we continue to hear that what we heard from CSX this morning.
On a day to day basis throughout earnings season low point in time how far -- this market run -- points -- as the market say OK you know what now we've readjusted expectations even if it's midway through earnings season.
Well I think we're as you mentioned before I think we are range -- we're no better off than we were -- in October or three weeks ago yet so who were -- and it's a very broad range you're talking about 10% from top to bottom.
And we really have not made any headway and I think really what we're looking for is the economic data to seek out.
With some of the corporate data -- now we'll tell you though that the corporate data.
Although it's been good we're still looking for a meaningful quarter to quarter -- year over -- recorder quarter.
Sales growth as well as earnings growth and it's going to be more of an indication as to whether the the economic recovery is filtering through to a lot of the companies.
-- I feel like we've been saying this each corner now this corner we need to see top line growth and we we still haven't been getting it yet.
He knew I -- comments on the opening line of -- July 12 no first line you are never alone with a schizophrenic.
Clearly -- talking about -- market but would you explain that to everyone Flores.
Oh really -- its yes it goes back to an old album.
Way back when they were in the final but when you take a look at the markets a were down five -- down.
Seven days in a row -- -- up six days in a row.
-- it is very much a manic depressive markets and you know so it's going from good news the bad news -- and reacting and in many cases of overreacting to that news.
So as we said the markets really have gone nowhere since October.
But we've had huge daily gains we've seen very large daily losses but point to point really have not made any headway.
So although yes this quarter we'd like to see better numbers than we've been saying that for -- while.
The fact of the matter is we really haven't seen terrific numbers enough to really push this market through that -- resistance area and part of the reason why we've been in a very broad sideways pattern.
How are you -- does that make you look at technical of variables more.
Because we've been -- -- -- that once you break that range it really means we're headed further in that direction for example if you'll talk about the death cross that we've.
We've crossed that were close to crossing -- right at that inflection point.
Well I mean it's interesting when you look at a lot of the data it.
-- does not -- -- big move in either direction when you take a look at the historical data on for example that -- groceries to the fifty day moving average go below the 200 day moving average.
Six to twelve months out the markets are unchanged -- may be up one to 2% so it's not necessarily a harbinger of of a bad market.
Although I will tell you that the the range on that is so plus or minus twenty to 30%.
So it's the technical as I don't think play a big role here everybody's looking at him everybody was looking -- head and shoulders and breaking the 1040 we broke 1040 that we turned around and were up.
Six days in a row -- so I think really what you have to do you have to take a look at the long term fundamentals you have to take a look at the cash flows and valuations and valuations -- what's gonna matter over the long term.
Technicals might matter on a day to day basis but really over the long term.
We're really looking at the fundamentals of the company -- want to see that good earnings growth wanna see good sales growth in a lot of cases would like to see good dividend growth.
Do you wanna seem volume two you know we've had a Friday yes face him he was one of the week is -- days of the year so.
-- -- do we need volume for you to get any kind of conviction in all this.
We'd like to see additional volume.
There is an awful lot of volume that's that we'd like to see in this market were running slightly ahead of the same time a year ago.
So even though volumes are down on a daily basis here.
Is we compared to the summertime last year volumes are slightly ahead of that period of time.
But again really the fundamentals are -- bear out and really what this market it gives us the opportunity to do.
His pick of good companies pick our prices and be patient and wait for the prices to to be realized.
Any particular areas you like right now you see is sweet spot out there where you might see an entry point even though as you said we're up.
Who -- down we -- up the last six days.
Well I mean when you take a look at.
The groups that are doing well we've seen a rotation out dove over the last three months out of the basic materials and some of the industrial energy sectors and into.
A lot of the consumer stocks utilities and even some of the Telecom.
That may have changed over the last week when the markets are running usually go to the higher beta type names.
-- ones that are coming up the cheapest though in the valuation area.
Tend to be the -- the technology companies so companies like -- Microsoft or an Intel or Cisco.
Are very cheap in this market given that are valuations and in many cases.
They're paying a nice dividend now that they didn't do historically.
-- the yields on did Microsoft and Intel especially are very good at this point.
Well -- -- -- -- being with us.
Thank you Paul Nolte managing director Dearborn partners -- Chicago Sharon -- thought his thoughts with us as he does quite often.
I was gonna ask you if you wanted to hear your thoughts and I know we're gonna get to it later on George Steinbrenner.
We'll share with you my thoughts George Steinbrenner he had not heard the news passed away earlier this morning he suffered a massive heart attack last night that his home in Tampa Florida.
And he was -- winner there's no doubt about that he changed the game of baseball for sure is certainly changed.
The fortunes of the New York Yankees.
Back in 1973.
Any day and he he took that franchise.
From a -- -- really a morbid franchise brought -- championship even wrote this -- really difficult times in the late eighties and early ninety's and brought him back to prominence with Derek Jeter and Paul O'Neill and Bernie Williams and company that in the late ninety's.
Any -- would help to.
You'll -- in increase speed franchise's value exponentially and other owners have looked at that and said I can do that as well now.
I think there -- other ideas he made it will make those arguments later on a show about whether he was at the end of the day good or bad for baseball you can make an argument.
On both sides we gonna take a break -- we come back rich -- big Yankee fan is gonna join us talk about.
Financial regulatory reform he might not be such a fan of that it's probably one of -- fan of baseball and New Jersey.
And I isn't Jersey boy right back.
-- If you think that the welcome back.
As -- but foxbusiness.com.
Live Chris cutter Tracy Byrnes with the -- We're gonna talk football and I'm not talking about the oblong football that another -- football and what's going on in -- in a little bit first of all we have thought about what's going on.
In DC right now Rick Jensen joins us.
To talk a financial regulatory reform we've been mentioned yesterday it is the week it's going do this and it makes it looks like it's gonna move through the -- fairly rapidly.
Do the -- had the votes to get this thing passed.
They do you have the votes now there -- a question mark late last night as to whether senator Ben Nelson who voted for this bill the first time around you seem to be a lock the second time around vote on the overall.
It was unclear if you weigh in on this it actually saying committee was going to vote for that just happened the last that -- that 2030 minutes ago Ben Nelson came out he said.
He is going to vote for this bill that gives Democrats sixty commitment and didn't really just a matter of scheduling the votes in the senate there's a whole.
Slew of procedural hurdles -- have to go through so likely.
What -- senate majority leader Harry Reid will do later today is called up filing for cloture it's a procedural move thirty hours after he does that we'll have.
The big vote and then another big vote and then that that'll be it goes to the president's desk and we've over all the financial system in Washington.
Were you surprised as I was that.
That three of them caves so quickly.
Brown Olympia Snowe of Maine and whom I -- for getting.
I'm -- got to account senate yet says senator soon -- that they -- so a way I goes quickly.
I actually it was always surprise that it took them that long to wait before they were going to do it.
-- -- it seemed as though in this thing was written they all gotten what they wanted to small business lending facility for one of them.
I derivatives proposal for the other.
And then when you look at what Scott Brown admits it's just think about that nineteen billion dollar fund Democrats decided and TARP early effectively that means that taxpayers are gonna foot the bill there.
I as opposed to big banks for nineteen billion dollars but.
You know he got a major they opened up the conference.
So that senator brown could have his provision it's very difficult.
Did you business going further with senators if they change a provision for you.
And then you don't vote for it so it's something that he almost had to weigh in on and they really just wanted the idea of okay.
All -- a week to review this will take the week off to take a look and see how we're going to vote.
But I'd imagine that once these changes were made once this bill went through the conference process that these three senators.
Were most likely going to vote for and that was the feeling among Democrats that they had these three senators.
These three Republican senators that we're going to vote for this bill -- I know you're a lifelong yankees' fan I just got a couple seconds here with me your thoughts on the passing of George Steinbrenner the boss.
Earlier this morning.
What Yankee fans loved about the bosses he was just like a fan except he was in control of the team when the team -- he wanted to know why he wanted immediate changes.
And one of the best things he ever did first he came in in the seventies he started.
Buying free agents the first time that was allowed to do and in 7778.
And I know one of the best things he ever did was in the early -- he gave the checkbook in the keys to the franchise to gene Michael.
And had him builds and the remnants of that team still exist today with the core four with Jeter posada.
Rivera and Andy Pettitte so you know it's a phenomenal guy a phenomenal honor Yankee fans for the most part I think loved him as the Yankees -- and it's it's a real sad day for the Yankees and -- Thank you rich we appreciate you grants.
Pretending he's a resident Bernanke is consumed by the way there's there's -- -- little -- reason I am sorry I have you gotten any decision I -- clearly.
Yeah they clearly I what I do know is making dump Chris -- that -- -- -- -- but the debt.
So I actually was not a oh yeah Jensen well I was -- I want you see the Yankees during the 70s and then I am I have been basically since the seventies -- -- -- But yeah you know his middle name right.
We can't tell you leave.
It could -- We hope to get rid sheds some -- and I'm happy right I felt that I -- -- -- that all right the last with the.
The London now actually although this year and a half -- not.
Without the UK and I know that you Jones and -- talk about the World Cup with a first Don Brownstein markets Agassi Euro Pacific Capital is with us yet again.
May god -- Well I think our wounds about the World Cup so we'll just leave it at that right John it's a miserable couple weeks for both of us there -- has been at the definitive reason tree and a great -- -- -- team and his team values the tea bags -- in the -- combat.
-- -- brutal it was worse for you guys analyst Russ Ortiz were not a soccer nation you you guys must have really taken on a kid but I tell you what and believe that it is well enough alone.
We can't wasn't wasn't a big deal out there.
What is -- the beginning when it went out again so that's how we I couldn't believe.
How much attention and garner I don't photos in all that was that's this much it to -- that it wouldn't I had entered this says -- England and it's it's the national sport from senator related totally into -- government very big disappointment it was a big disaster Islam yes.
So I soccer or football.
Cycling in auto racing to some extent and borrowing that's of those select the the national sports router router from wounds that are probably won't be as well talk -- and the world's -- -- with -- -- -- cricket clubs and -- might not -- -- sport but certainly is something that's very popular these -- all over the world but -- -- might be having some issues in Europe.
Especially where banks are concerned right yeah what is suddenly -- in a sport.
I mean that the banks.
Under the knocking in Greenspan the world was filled a wash with no cost because and you are.
And basically gave people that it would greedy and started to speculate.
The banks Norman did the fatal thing of borrowing short.
And financing long and they -- greedy and went into the financing of high yield.
Real estate type deals and they also I finance the carry trade out of the -- interest currency into higher interest conscious of people of the more.
Country in -- a former Soviet block.
And so now the whole thing is becoming a -- a part of this seems.
-- -- -- -- great -- -- -- -- liquidity shortage of about five trillion dollars two point six in Europe and one point three and in in America what people are scrambling for money.
And the -- the same time the governments of scamming for money.
So we have grave a full crises ready garb of the fact of the liquidity crisis then you got the sovereign debt crisis.
And then -- currency crisis which is that.
-- -- -- -- Because the government to -- namely governments -- by -- policies of pushing this recession into a depression.
And one example you just discussed was -- finance bill -- -- him.
Talk about the financial system and it's gonna increase the cost of finance enormously for the people but the hardest hit the consumer.
And doesn't have a big way secondary right away at UCL odds of that and take a little luck -- take some time there's an assistant I have to make the lender they've got a charging fees and -- that's a thing.
But the -- done nothing to sort of system on the big banks distilled too big to fail they've still got massive toxic assets done nothing to stop them gambling is still allowed to deal in derivatives and -- And yet the medium regional banks are being hit hot and they didn't address Fannie and Freddie.
Can only talk about though I mean a large chunk of your workforce yet it didn't financial services -- -- these banks are struggling these people are -- struggling yet -- are doing to the overall economy and the we worried about inflation.
Well I I don't know -- inflation on a road will be in my view hyper inflation.
But at the moment the forces of depression a -- recession which the governments of pushing into depression.
By the wrong policies.
And scaring consumers that fear out there only uncertainty and downside you have attacks have a business and things -- that.
And regulation is forcing this recession into depression.
But the biggest crisis of borders -- currency crisis and what's variant seeing and I think a lot of the main -- media have missed is that five -- in Germany and -- for an immediate indenture and against.
The German government fund lending money to Greece against an article 125 of the -- -- Lisbon.
And that business -- -- the constitutional court just.
Put away didn't say -- -- the media said that it did away with it they just put it pending.
And so that's still got to come before -- quarter that would have been if they were to rule in favor of the law and therefore in favor of the the professors the ER I would come on one in a matter of hours.
In in a very rapid and vicious unwinding but it isn't that -- -- -- don't you wanna get rid of the you know anyway at some point maybe just keep.
Quick and painful world pass and -- I -- I have.
I vice president eradicated in the veterans thought it -- modern mom -- goes is to get Riviera is there of course I agree but it's not a second currency of the world.
And the widest.
Held in currency in physical form -- in top worldwide ridden in the dollar says it really started unravelling that would be Terry Cook outs and that's the currency crisis really -- This almost one and a half trillion dollars held by US banks such a big deal because they we -- -- short term money -- -- -- just print money and one this every other nation in the world.
Yes with a reserve currency status America can keep printing money.
But of course -- -- limits even then even though you can't even printed -- I was not -- be done by computer didn't play.
They wouldn't nor have risen to well wouldn't printed trillions -- -- But there comes a time when people when trust the dog and this is approaching.
Already the Chinese had London and in it's that the G-20 were putting forward a new idea.
For a new international -- already it's being challenged and someday in the future I see that -- -- not to trust Abdullah they -- be buying treasuries.
And it didn't do you know that was they're not limits we've not reached out to spaces seems to be literally in this study is based out.
Assignment comes up often sir and I know I only have a few seconds but you know everyone's.
-- don't want the dollar to be the reserve currency level was today another option out there as well as yeah.
The pound narrowed.
Setting -- that that was that was the first paper currency -- reserve currency the dollar to pay these the we may give back to something need to go which I think we will.
And that's I think -- and so the only two.
Safe havens from this so currency crisis is being looming.
And that is why despite the recession on the threatened depression when dole should be commenting coming -- should be read it on about six to 400 dollars an ounce but it's at 12100.
-- -- people are worried about currency.
But they would -- say about the three lines you know quarterfinal.
And after all -- for us down and decided that if you can thank you very much indeed help our next time -- as years -- and a lot of it is great welcome I will -- sentencing it was great well it was an interesting like a man can -- you would have just presumed the winners one of them look at is that we will cup quarterfinal C market strategy of Pacific capital John -- always good to see an especially here in studio -- at -- we'll be right back don't go anywhere -- -- -- -- us on the side.
-- -- Whether the thing.
Points on the day Chris cutter Tracy Byrnes -- is dot com live faces gonna tell us like -- what's moving my wife surely nationalism that.
Because I'm just getting used to everything were back I didn't know we're back government -- -- that I had a fan and I had yesterday a you know.
It's it's -- wanna do things as this you got to defend what powder.
Leo how relating coming here because on the you -- deal -- do your hair in my forehead and.
-- with tiny hints that I am I don't know -- the -- and I and I that would Tennessee is the ladies Wear pink -- lord I apple I had to call your attention to it just because there's been a lot of news about it.
It's down almost 3% that's a pretty decent job outlook now there's a wind storm you know let's.
Hank and I won't.
Pretty much said they can't recommend it even let me -- -- -- -- Smartphone out there and they said they can't recommend its use the iPhone four to shoppers because of -- -- Bar issues so and claim -- is on the show this morning on morning -- showing us that there's one little spot.
On the iPhone and your finger -- that you tropical your data service I mean to me it's no different than my AT&T service on my Blackberry -- and turned the corner and I got service on -- -- so what's but it.
-- and consumer reports said the best fix sort of fix it they said works very well as duct tape so -- -- at the idea that hey this is a great idea for apple.
You just have I tape.
And instead of just the 490 -- duct tape -- -- the local hardware store you gotta go to the Apple Store and get the -- tape which is of course 4999.
Rural -- look at the -- -- of course will come pretty neon colors -- -- it's very -- it's very functional and you can wait in line around the block.
At all four locations here -- -- the I I tape I'm telling teams what they do.
Flip out if everyone like I explained earlier watch from a diver as a kid growing up you will have to -- your trunk.
Because -- driver says you cannot leave home without that could.
You but you can't do anything without a paper clip hey you need both a paper clip and duct tape to -- if you dissent duct tape it's useless you're right and a pen and you could probably blow up the world -- still far behind on my round.
It's really amazing and I'm going back -- and automation and -- outlook.
Believe it or not Bruce Berkowitz he's a big investor private -- -- -- also taking a piece of it as well Brooks is up 12%.
Ivanhoe mines I just kind of like to say it but it's turning its covenant with Rio Tinto basically it gut.
They have a covenant that governs in Rio Tinto well they're terminating that so now Ivan -- able to a lot issue more shares of stock to Canadian.
Minor but trades on our exchanges as well up 13%.
-- this we talked about earlier has this new.
Weight reduction in drug.
When this cracks me up.
Cracks me up actually I'm not really sure I'd say I think it's -- accept.
But it's going to be reviewed by the FDA endocrinology -- metabolic studies all this kind of stuff and if it works man it's a home run for them the stock is already up.
About fifteen and a half percent.
And the case is being watched by other nuggets this sentence of the races get the results -- and really yeah.
-- those skeptical about a pill you can take that makes you lose -- ex pitcher has yet that he remembered Jackson chairman growing up only a few side effects my.
I can't expansion and I think I can be great for a no fly and grand -- man yeah they don't -- these mistakes and just -- and -- really well very unpleasant side effects.
ADC telecommunications is about 41%.
To -- electronics which is an -- of all these electronic connectors.
Agreed to buy the broadband equipment maker for one point 25 billion with a B.
That's 1210075 cents per share in the morning yesterday's close ADC telecommunications and particularly -- -- because it.
It's good step for them little mergers and acquisitions and -- low market cap stock pick of the day.
One last thing earlier in the day I also use my I tape joke and I -- -- the last -- -- -- -- -- 7 -- that all morning long but it's good -- thanks I did I mention my father and I send my father worked for consumer reports you know recommending -- tape and he sent me emails Maggette -- -- -- thanks for the -- this morning.
But it was your grandfather who loved duct tape.
I use the pox.
Hindsight is wanted to make sure we got that straight yes -- I know use of proxy quite often -- -- as -- as president of -- financial group to see -- Money a baseball fan.
Wouldn't think -- George Steinbrenner passing earlier today.
It use a businessman really yeah I am and I look at -- a businessman I mean.
Obviously didn't like him a lot as being a Phillies fan -- -- like the fact that you be built evil empire.
But you have skim -- I mean he would want the best businessman ever in sports and at one point they -- actually -- the most powerful -- sports and he was shipping tycoon buys the Yankees 1970 from CBS first song essentially turns -- -- a winner again out of -- over a billion dollars according to Ford so.
Yet -- like him -- not -- like -- do you like what he did for baseball not because he -- make the argument that it was not necessarily all positive he was a great.
Business and is it true -- true sports fan too which is nice you like to see somebody who owns a sports team is actually true sports fans the horse racing guy I mean you can.
You can tell that the Smart but he micro -- -- like.
Ala Mark Cuban I mean -- -- -- more so -- an -- that left so.
More than any other owner probably in history I think about -- -- these athletes need to be micromanage a lot and so I think you know he he kind of -- he -- on a cutting -- of doing that and he did -- well now -- baby it's going to producers of -- -- in the -- yeah.
-- -- -- like all over the place and I think she's like at a major every made that -- self conscious and it right now in the Cannes film a messy and tell us I think some money.
And do it up on -- And 64 points and Fannie and -- -- I'm gonna get blown.
Instead they come out like a photo shoots -- it should be taking my -- all the -- -- -- my -- my -- and I -- There is now on the subway making money -- -- -- again I'll get you back on its contract and bacteria.
I think three -- yes because I know a lot of people a little nervous but individual stocks right now so Big Three TFs.
All in emerging market countries either because he's very risky if ETFs out there I think you -- -- now they're not that sort of you Peru EPU I -- -- -- ETF.
This ETF right now is up 3% year to date not huge but much but -- all the other major economies.
The GDP -- last four quarters of four point 2% the avoided recession.
They'll make a point 2% of the world economy through getting in a small growth country.
But visible in recession -- I can't really see this risky.
Yeah at this point had they grow knew where the growth prospects would have been in the -- the stocks that make up -- -- yeah.
They have a lot of export some of the two of the biggest holdings won the gold company and one is a copper company so obviously it's a lot of mining.
Than ever to holding is a -- that actually just an all time high.
Because it is spring on the growth -- the country and you're seeing consumer growth now and country as well.
What about political risk.
And he all development and it.
That things political risk which everybody brings it up when he come to emerging markets and I didn't even more political risk here United States right now.
Nobody knows where this country's going to so much uncertainty Tbilisi are moving towards socialism so if there's any political risk -- is just as much here into the.
-- -- instincts -- in and human size and again it right you have.
Boomer governments here where we want to send -- away and then you have to room where there's like three people out of lunch and they call that.
And -- you pick your poison I don't -- that really.
Both prefer three guys have a lunch then 3000 people -- -- -- you know eat you up a -- Thailand in Thailand at least I think we've come a little bit more to the center on.
Yes this candidate in -- building -- it's a bigger economy.
And I think that point 44% of world title in places biggest Peru missed this ETF is actually up 13% year to date what I -- about this.
Jobless rate one point 8% people are actually working in Thailand I'm not sure exactly what they're doing but I know they have jobs.
-- typhoon three times a week that I have to probably help the economy a bit she's there.
-- ETF is -- financials and energy so again NEC financials and these emerging markets because that's what fuels the growth with in these countries.
All right and then you also like Turkey would send me again political risk if they -- it would seem like Turkey would have the most political risk that's involved in it because.
That seems every other week there you are good friends at the US and it got really good friends with the US than what siding with the Muslim world -- -- where -- they stand in Africa or there that geographically they're a tough situation because they are between a Muslim world.
And basically eastern and Central Europe which is going to be who consider almost the -- there were also there in the middle.
I think they are the largest economy don't central and Eastern Europe so it is it is a bigger kinda makes up one point 2% -- world economy.
This -- over 50% again in financials they didn't really have big growth only up point 1% last quarter but they did have a little bit of growth.
This is a growth country that they want to get EU I'm hoping they don't because why would you -- meaning you right now anyway drag but yes what they they did what what they have -- They will -- any growth that they -- -- Eastern Europe and Central Europe they're gonna really fuel that fire so again that's why the financial live a more solid banking system there and do a lot of the other countries around them.
Can I ask why Australians on the list.
Slowly emerging market no I'm not but if you gonna invest in -- country employer exiting countries affected continent well right but he's you're picking these countries.
If you're investing in them Australia -- lowest unemployment rate -- much out there.
And -- working they had imports and exports and mean it's a solid.
Magnuson a -- and live right there's that that's something.
No I I I really do like must truly a lot it's a big commodity play as a big play and China as their proximity to China.
You have that unity -- -- -- their iron ore and coal right up there the problem is.
The ETF is made up of majority of commodity stocks.
And -- still talking about the possible tax on the miners in Australia that was on the table they brought it back.
But still some political tensions on staying away from that country until they decide that the -- TWA for the Australia have also been on a heck of a run and so maybe wanna stay away from buying.
Towards the top is that any part of the theory with Australia is that -- they've really been running while everybody else has been treading water for a little while -- -- -- because the commodity play it and really that is appear commodity play in my mind secondary plane -- so if you believe in commodity stocks.
It's a great way to play it without buying one individual stock.
And it's a little bit safer if yes need an investing -- I know you left China and you know that I.
Don't yet so it's -- right that's a safe way to get exposure to Chinese growth absolutely it's it's a great way it's it's you know I think because secondary tertiary plays -- -- fantastic secondary play because if China does well.
Obviously the demand for goods is gonna increase and that's gonna help.
Push up Australia's economy on downloading apps right now on my Smartphone we come back we're gonna find out how I can yeah.
And you know you can't get academia so ten alone is lower at that banks -- -- -- -- golf president and -- is it ten could hear Phillies.
Yeah I'd -- my company for them believe.
We'll do it that.
Yeah I -- for that.
And when you're you're out there.
What you read the second -- -- here.
In my -- on the death rate -- Jeff are not -- alone.
-- -- -- bust of the dot com live Chris cutter Tracy -- in our new digs you can watch is on foxbusiness.com.
Website as well as the foxnews.com.
Website -- the strategy room.
Senator wherever that may be and I have actually been through it but nevertheless you can watch we're getting double duty now we will work out the -- that -- attacked everybody.
Just be patient that's.
One of the things that as a parent you're really concerned about these -- keeping track of your kids and thankfully Jeff are on founder of safety web is here with us in studio to talk about downloading these apps.
Had to stay safe when doing it.
Lesson -- here we talked about the tracking devices who gives you you that's got involved in this.
Is it safe to do this is it safe for me to put the summit -- phone.
So there -- I guess when when we talk about traffic devices we we should really identify what what does not -- that there's.
Applications like give away your location right and so they're they're not necessarily physical devices but.
Apps you can get and iPhone or Blackberry right and what they do is.
Certain applications like to disclose your.
Your geography right so location based on AP is built into an application.
Allow that application to say hey this is where I am when I sent this message or this is where I am when I took this photograph.
Is it safe.
It it really depends I I would not want to say you know what unilaterally but it's not safe.
But it's really important to understand.
What you're sharing and but you know you're actually sharing -- that's the tricky part.
What happened when I download -- net.
I give him a message first of all before I say yes download that tells me -- -- -- this this this is almost overwhelming when you look at it how much information you got look at and say.
Why don't watch any concern about that are not what the hell just downloaded all the economy that's a bad attitude that has.
I think it's but it's I wouldn't say it's it's a common attitude and an unfortunate it's like when you install software on a computer you actually read them and user license agreement -- -- conference along.
What I would propose actually as -- like to see some standards in place almost like nutritional standards so.
It's actually human consumable information that says we're -- sure these five things very distinctly.
I think that would at least allow people to make more informed decisions.
But if you want the information you can get and I think that's always my theory was that like that's what I do what he does I just say yes to everything because.
If you want to.
Come after me or my kids you gonna do things one way right and we talked about cyber bullies last time you heard -- happening get to you via text thing get to in school they act into -- means some of them it wants to be bullies going to be bullied so are these.
Crazy tech people gunning whether -- downloaded.
You know look -- from my kid or not.
That there right.
People are sharing more information.
I think they understand sometimes and so it's.
The question -- ask yourself always there's what are my sharing and why does this application -- -- for example if you're playing a social game.
Maybe that came only needs to know who your friends are.
And you can play with them on -- that to me makes sense however doesn't necessarily need to know.
My date of birth or my address or where I am when I'm playing not necessarily doesn't necessarily.
-- to the application.
I think it's important to note that a lot of what.
What you do online you can actually control and so.
It's not it's not like you can't block the privacy settings of a lot of these applications.
-- FaceBook sometimes get some bad press they do.
Allow you to make changes that will restrict the privacy and the access your information people just need to be better aware that.
Jeffrey everybody -- -- -- PC should have Symantec.
Or some type of anti virus some type of love inside now where program.
She -- Smartphones have the same thing -- -- those programs have been.
They're starting to become available.
It's but it's less.
It's less likely that you'll get a virus on your phone -- say than others thought he might inadvertently shared sense of sucking my co-founder Michael -- this morning.
Who we were trying to like.
Understand what some of the biggest risks are and to actually put it in a very good way he said it's not it's not that people are.
You know maybe.
Mission to the people are less informed but with one simple action today you can do.
Five things you.
Whereas -- few years ago you had to take five discrete steps to share so we have about ten seconds I want to download a little Peter.
On my kids' cell -- so that I can follow him or her room.
As Big Brother -- is that sounds what do I need to know to secure both of our safeties.
Are you if you're a family plan and a lot of the services like Verizon.
A lot of you as a parent to manage that so you go online and you can -- sign up for location services.
And you can make it so that just -- you can actually track.
That location which is a good example.
You know assuming that your -- not 25.
But -- you know it's a good case where a parent might be able to see.
Where the kids are and can stay on top of that.
And it's not broadcast -- to general public.
Other than that real quick do you use it.
I don't wanna give a plug in Google but if you look at the -- mattress on the -- that when you're using a good established name is the one you wanna go -- was the one that's most trusted.
Yeah and I think philosophically.
You know though everyone faces of both companies face some kind of -- I think Google generally respects their users and they don't.
Tried to do things that disrespect to use for users' privacy.
They're in the search business in the discovery -- and so sometimes that happens but.
I would trust -- -- -- tenancy thanks thank you very much.
A hero once again here in studio this candidacy -- of course.
One of the founders of the safety of the city live dot com by the way if you wanna get more information on all these topics we got take a break.
We will be right -- talked.
Primetime Emmys when we come back.
I I download -- -- Welcome back foxbusiness.com hi Chris got a Tracy -- the Dow is at about a 154.
Right now Arnold and I would think vineyard for most of the trading day -- who have little.
Came -- yet.
And then -- I mean I think it's three day -- in -- -- Salina.
We gotta talk about and -- -- imaginative it's this year executive editor.
TV news for -- and -- dot com to talk about some surprises there was some certainly.
Big surprises I think the biggest though in the one thing that most people are talking about right is that Conan.
O'Brien's tonight show got the nod and jays didn't you.
Yet -- kind of been staying out the truth be told.
Version of the Tonight Show did get a handful of nominations while Leno didn't get a single one little like Phyllis Diller.
Vacationed -- and yeah Conan had integration that aren't yet that -- had a great comment on Twitter than the -- nominations he's I think this bodes well for the Tonight Show with Conan O'Brien.
So little wink -- there.
Any network stand head and shoulders above any -- the -- -- -- -- with the work they've been able to do it -- -- I think it was pretty spread out as far as networks.
Show -- the Pacific and HBO where most nominated anything that was the TV movie miniseries.
Glee on fox got nineteen total nominations and the -- got terrific buzz -- -- C -- can do really well so it's up there for comedy.
We Michelle is out there for lead actors Matthew Morrison for lead actor Jane Lynch for supporting actress.
-- think -- prospects are pretty good.
The the best comedy race is a little tricky though because you have modern -- and -- -- and as much as we had -- -- this season modern killing perhaps had a little bit more.
Modern family as you know a bunch of acting nominations for itself as well and it probably is has been a little bit steady or the two.
So had to give an answer to either of those shows in the best comedy -- -- it probably mean little bit towards modern family.
Israel clearly led the pack yes right so we're talking about cable TE doing better than the regular networks -- you know and that's the way it's been going past couple years I mean look at the lead that look at -- outstanding drama category.
Except for the good wife.
If all cable you know it's I -- dads aunts or something got lost and lost a good way for -- there -- network but you're breaking bad Dexter true blood -- And that's just -- and all those things you know not so much on the comedy side you have curb -- -- on the comedy side.
To the networks are still you know holding their ground on the comedy categories but the drama it's just it's -- -- -- are -- as far as.
Eighteen he -- HBO is still head and shoulders above the others -- right at him and you look at the showtime and showtime making inroads towards HBO it's still they feel.
-- was telling -- he's -- -- you know you've -- nurse -- getting nominations these days after of course.
So showtime is -- -- -- to be reckoned with.
-- -- -- -- -- -- -- -- -- -- -- It's really remember that the UILL -- I was just gonna say I didn't even know still been.
And -- -- like four years later and we weren't -- on the wide world the sports Denis -- by the way for rescue need to end.
Hey guys I have around me is my favorite show of all time right and it does he -- -- not -- assignment on the list -- ever put.
-- -- -- the lead actor -- -- has probably when the tightest races out of the whole thing I mean look at this crew.
Jon Hamm Kyle Chandler -- handsome Hugh Laurie Michael C hall and Matthew Fox.
Who need to take out of that next kind of spot prevents Weirton it's just that's a really -- -- can call out.
We have a show you -- you have glee modern family to relatively new shows and but they have mad -- And bad men new season starts I think in about a week or two -- -- her yet -- But that shows is going away essentially mean it is this the final season lower management.
Notes silence now now -- -- they -- and puts it the best those kind of running -- course I guess my point out that the final season been announced but don't you think that that shows sort of one of those things where.
Any day now they're gonna say this is the final season of the next season as the final scene.
A series creator of mad men has been out there talking about a closed end game plan to -- he's got one or two seasons left but then -- he kind of has since backtracked saying you know it's not really his call because basically if the network has won it last longer it will last longer he just might not be part of it -- imagine what Madeleine you know it is incumbent as -- outstanding drama series and it is in fact coming off a very strong season I mean it really didn't have a weak link.
Last season so it very well could -- All we talk about reality TVCs are these guys not eligible or they just that bad there's no let me -- -- Because ever popular -- is.
Wait a reality is content category for best reality show and the best -- -- it one surprise in the reality -- -- this year was.
Project Runway got a nomination and a lot of people thought it was kind of you know media and so so season meanwhile survivor which -- what a lot of people calling one of its best seasons with heroes heroes vs -- didn't get a nomination.
Is that an indication that that sort of maybe -- courses being swamped by all the other reality television that's out there.
I don't know what -- explanation now known as it's just that one really came out of nowhere because people figured that survivor was a -- And the reality is reality reality reality is that the Amazing Race tends to just win that category year after year to year assists that's -- just and the beast when it comes to winning.
Betty White will wrap up what this also gets nominated for us yeah I but that's that's run its course that's -- so don't see.
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- All coming up.
Would you like to know.
George -- -- this we caught my -- on this but I know what EI I know I don't have a whole lot to offer to this say yes.
I just want to -- with this on -- -- -- like I said before I think he is a winner I think he's a great businessman is -- -- -- most -- we said.
But you could make the argument that what he did for baseball was not -- the imbalance that was created by the Yankees.
Has not served baseball very well -- the pirates who cannot win.
You have Kansas City you absolutely cannot win you've got several teams in small markets and the -- -- haves and the have nots is great.
And -- there really is no mechanism in place to close that down because even if you put some sort of a soft salary cap in place like they have.
George -- -- -- the Steinbrenner family -- the Yankees would just pay the tax he would just pay what every EOs on top of that salary cap to continue spending.
Right so did he create his own monster basically he was great for the Yankees no doubt about it and you could say as a businessman that's his responsibility to his own organization which he was.
Fantastic for winning the championship said he did but he did created imbalance in baseball that in my opinion it's almost impossible to close yankees Red Sox Mets.
It is a lesser extent the angels and Dodgers spin out in LA and then is almost everybody else fighting.
The -- now did that star and what came first it this is a chicken and egg question.
Because then it -- to basketball.
Or was basketball.
-- basket -- well it'll blast that they instituted a hard salary cap so that you that you cannot LeBron James is under -- -- yes he -- only signed for certain amount of money this year.
Lourdes that's one hell of a cell and I had to -- a good.
Lionel but he couldn't go local Bob the NFL has a hard -- that is at -- -- -- in the NBA that's what Emily said that the NFL Lisa's got a good -- and that it makes more sense to me like no question about.
The baseball it has the this off this salary cap of all you go above it if you I have to go a long way above it before you had to pay a penalty.
And the penalty is such that George Steinbrenner the Steinbrenner family the owners of the Yankees and but it seems that the Red Sox and that's -- they chose to could pay.
That amount of money and I would argue being -- complete his sports idiot that the and a that I deserve more money -- they -- in Florida.
Yeah -- -- -- -- obtain those guys deserve the money where do these old -- turn around you can could billion dollars in another event that.
Well they also it's not for nothing I mean they make their owners a lot of money to otherwise the owners wouldn't be able to be if would be able to afford them but either way baseball.
Lost -- pioneer.
Great businessman somebody that has been very important of the game.
For the last almost forty years so led to a senator of course he leaves a very he was always known as the defending net and he leaves a large family.
Can I ask you one more.
Does he have the most World Series under his -- as an -- ball that's a great question I don't know the answer to that and early as I mean a lot I love him because I don't know you'll team's owners in the twenties and thirties and forties I don't know and they understand paneling down -- -- like.
Obviously staggered as kids are gonna keep this the -- Hank and -- running it seemed and there are many people in the family yes I would assume so -- -- it was his father's legacy that I did not -- -- wouldn't feel -- -- almost illegal for -- -- -- -- I did run into George Steinbrenner once literally down at the yankees' spring training facility in Tampa Florida we -- -- -- Manager Joseph Torre's office -- any other questions.
Okay and then when -- the manager says that everybody -- for the door to go talk to players and I was a close wanna do I turn around real quick.
-- -- right into the boss.
And he was -- -- already before I ran into him feel biggest Chile was running hot at this and punt on the S and why -- network at a Mets.
Diet and I random that was it.
-- -- passing away agency earlier today so.
But certainly our thoughts and prayers are with his -- great baseball man for sure that's gonna wrap it up for us.
Simply to -- thanks for joining us.
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