Are You Ready for Some Football?

" Okay speech from the president so I guess there's that and then -- an economic."

" Talk about that most of them -- fired up about first time then September 10 -- can't remember the exact year that Neil Diamond."

" It is 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 as a joke well why would I possibly make this taking Bob Dole's place yet. American Idol that was my thought the biggest news we have this morning on Fox Business morning where the -- I don't know where you -- 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 think she could -- at the -- do you think you'd think she's replacing Paula Abdul and it's like he's not coming in here -- on it forever your girl. Pick pick pick up -- attract and had a that's -- I can't watch it one step forward to take what -- when he steps back anyway so the markets up a little bit eighteen -- appoints Robert gracious in his head we will get Carol while I finish."

" Yeah that'll solve these songs -- has yet on -- you guys have exhausted my limited knowledge of Paula bill I'm proud to say. -- you added to that that would make it big yet made a bad situation ideal diamond we can revisit maybe you know songs and blue or something but -- say they have growing of a woman says the are people that you wrote that in next. That great song thank you. Well good reference thank you aren't with mama please. Help -- trade deficit than what you came on talk about in this southern like -- weekly jobless claims to mean a couple of yeah. The economic point 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 you know claims for jobless claims not necessarily good report right 560000. Was the estimate. Last week was revised slightly higher -- those were some we thought which made this week looked even better I guess if you look at it that way because of the drop of 26000. From last which revision four week moving average moving lower continuing claims moving lower both. Now lower than expected that is that trend in the right direction we used to come up more than six million people. On the dole you know getting these claims and you also have a number of people in fact. Three point five million people are getting these extended benefits they've dropped off the continuing claims that number that looks better but some -- people just merely shifted. To the extended claimed so. The employment situation as you saw the basement yesterday still like getting a lot better and that's something that is cause for alarm to a lot of people and now they're united traders and investors though I'm talking to him. And economists as well and then they look at this trade gap numbers biting the most in a decade and now he -- superlative sort of jumping out you 16% jump. 32 billion dollars five billion more than expected. The silver lining here is that there's demand for goods were bringing goods were buying things to some degree a lot of it cash for clunkers we know those in the -- a lot of cases the foreign auto makers did really well. For the most part the top ten anyway and as far as sales go in a lot of cars coming into the US some of them 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 -- of congress 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 no better off."

" And it just -- any of your brain cells -- so where it is check 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. When you're watching hours worked and you know what real wages and they are well. Our work pretty much. Treading water but the the wages you know when adjusted for inflation. We're going lower so that's definitely cause for concern for the consumption going forward but mine that was just arrived at some economists and you know who are looking at this concerns about the trade deficit."

" That seems so I -- so I think that those numbers is that really depends and I feel on the guys depending on you can to pick them."

" Glass half full glass right and Dallas is talking about that on Fox News that the foreclosure data to it's like out bad that this Imus 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 want to go glasses. Half full so it's like two steps forward. Once the."

" My and a line a lot of cases you know in its. Pain that people are expecting says. Going to take the medicine now and and gets sort of jumping but. That's why a lot of people looking at banks' earnings they're going to 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 the break in the books for next here on the party looking to 30. -- 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 income absolutely can't get a lot of them here to canceling her earnings Sanford well let's let's hope they did this keep in mind what happened in the -- business pretty much -- hall so you know one can only hope it if things don't start getting better on cots in the next. Two -- three months mission at the end of we're in trouble absolutely had a good point Robert thank you Robert Gray there with some our top economic stories of -- Daniels and from Daniels and financial group joins us talk about markets from out in Vegas stable good see you thanks for coming on. That will what do you make things I think we should talk a little bit at least about. Health care and the state of that debate because that's that everybody's around the -- talking about the president's speech last night would think --"

" I thought it was a actually a pretty darn good speech you have some very good points again. There was 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 that's. It's good that we are looking at changes."

" We're talking about investments real quick perform under the topics there because sickness up today. Humana some of these health care related stocks drop -- as an -- earlier you seem to think that. The president if you read between the lines who took that public option -- under the bus last night that although he gave -- some lip 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 co op or something like that and that's better. Than the alternative to the health care companies we think of those those stocks in particular."

" Well some of the stocks are up but I think over the long term we're going to 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. Did you mention that."

" You're looking at a jobless recovery we're just talking Robert -- about the jobs numbers on jobless claims out. Many people are in your camp in this and that the real true economy can't really turnarounds at least until we start hiring again. When do you foresee that happening and so at this point we're looking at 30 dean."

" 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 -- 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 and do some of the things that they haven't done in years and years and years."

" Yeah others they've had to adjust and its it is a different out -- existence for people so there so they're getting used to that now what's next. One of the things people what about sometime next year or something like inflation for example understand you're not as sort of what how do you look at that. And and and try to figure out what's next economically because that they have to make investment decisions at 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 going to have to make some adjustments. Things it will have to look at as something that you know you might want to go oh my gosh you've got to be kidding but something that the store of value like real thing right now. Prices are really low. But and it will take several years recover especially in 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 closer 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 guy is gonna continue to ground. That's that's what interested me in your notes the most is that you still like the emerging markets and hack -- both sectors pretty much seem 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 we've -- pulled back really severely in October last year and a boy did quite an emerging markets but. We're we're going back and we 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 widen 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 reassessed at the risk tolerance those baby boomers kind of where the stock stock jockeys who topic -- 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 risk 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 what's that's insisting that that is the whole baby boom."

" My generation I mean they got burns unfortunately they're very close to retirement. Reassessing your risk could potentially mean stay in the heck away from the -- equity markets at this point between now and retirement."

" Well I think staying away you do you equities for growth. The -- do need to reassess are you really as aggressive as you thought you were making haven't looked better ten or fifteen years. And if it really bothers you that much and you're not sleeping at night. That's probably not where he should be there are other areas that can grow and provide steady income and provide her retirement. You do need to have growth inequities in the portfolio no matter how conservative you are because of inflation. Even if you're earning an income and you're taking everything out you need something that's going to -- plunged 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. Our older. The -- if you're working you gotta get back to contributing to those 401 -- and firings. People panic they'd hold back. Those were the best time ever it was a huge mistake they should've kept dollar cost averaging even though prices are going down they bought more shares at a cheaper value. Yet this is the time to keep funding -- retired -- Really ultimately -- to start matching again too we saw that's -- well that sort of was bitten the simulator and yes for people stopped altogether so. That really -- act. No I think that water -- ahead of companies need to feel comfortable COS so that they have profit so that they can match. Give away our readers that our viewers wrote in and asked that and just said that this increase seen injuries ultimately drag on economic growth so what's your outlook then for GDP overall. Well I did I have growth I think it's going to be slow I don't think this is something we're gonna bounce 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 the a lot of money on the sidelines. But again companies and people need to feel comfortable before they come out become consumers. Again."

" I think -- people in rooting for this pullback in stocks and -- you know. Bulls and Bears alike -- and his people that are short the mom and -- Schaefer would touch him you know he thinks Armageddon on the way and he's still real short the market he gets about a cable or more bullish assay that was the thing to pull back 1015% non -- and and it doesn't want to Denver for whatever reason we're still well edging higher."

" And that's because we have trillions of dollars on the sidelines now that being said I -- think we will have a pullback 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 a fact. Some I would dollar cost average and we've been dividing up client's monies of about eight weeks and we're -- 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 market will be higher at the end of the year I do think people do want to get -- but they want to get -- carefully. And they want to get 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 -- a ended twelve -- 30 we lose the bush tax cuts so. How people plan for this. Well that's pretty typical that's one of my client's biggest concerns most of my clients are very high net worth clients and their NS top tax brackets and paying more is not. Something that pleases them by any means but I think we'll have to look more 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 offset -- depreciation. So that we're not being taxed on that full amount of work -- like interests -- 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 effort and you'll -- an -- Daniels and financial group out in Vegas. 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 through today we -- at the end of the hour all week long about. -- our story of the year getting up to a year anniversary of Lehman Brothers both of -- would rather have the start of summer series after Labor Day. The at this. Company that comes in and you can charge your phone you can charge your iPod by running for the general based on your movement again. Yeah this critical right. It's very quote can't charge a lot top. Someone shaker flashlights and I you should -- yes home. -- talk about it anyway more on health care congressman Kevin Brady a Texas Peter Barnes. And next up fantasy football NFL season kicks off tonight Tracy Byrnes has worked up about -- very very excited about the titans. And the Steelers when it occurs to talk about football with the first foxbusiness.com life. Opening day you're opening night for the NFL football season so we all thought -- mean by tracing the meeting yesterday real thought we would talk a little bit about football. You're big football fan right that you're okay with us."

" big joke actually actually the company is called fantasy planet and Chris I don't appreciate this. I've only until one --"

" We can always turn midstream yeah why make a chain I that's why I was invited to this -- let's check with the comptroller of I could create a nod from my side immediately decided to SA and its you get the not is a -- for fans I'm."

" That would -- teaching them football now."

" It will larger people think -- taken. Who can all kind of -- they have that that I I would agree on an old story I gotta tell you you know 22%. Of the US adult males yes underrated -- much -- and held prisoner rights and maybe now -- we wanted to demographic -- That 20% of adult males that have Internet access yes late fantasy sports of one quarter and others see baseball Apple blows that's the most -- so. You can see I'm sure the percentage of those that like -- much higher than 20% but still. Marketing standpoint. -- marketers look at this and say 20% that's a pretty high percentage of -- and it's also very. Dedicated. Group of individuals that you can really argue with certain advertising campaigns -- lot he would jump and -- people -- obsessed with the release. Arguing -- football level I actually Tennessee college football and I actually put -- NASCAR a million don't yet it's not. How do it played on the defending champion Obama opened a."

" but I -- and why am dumbfounded that people are spending money even in this economy on the stuff always -- And I expensive -- mean most leagues are free 90% of the news out there free. And only the handful that aren't three."

" And -- pretty Craig Davis real quick he's from fantasy planet dot com Oklahoma City Tracy didn't know about the website -- but we all do and we thought it was something different fantasy planet that that a dirty mind Tracy -- artists. Tell us about these numbers by the way I've Craig Christmas talking about how you know so many adult males -- into it -- the numbers just keep going up and up right."

" Yes and it's an upward trend we've seen even with the down economy we -- 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 and it -- fantasy football has gone up -- 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 them you know more people are finding time or money even in some cases to do this new 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 it that you just the thrill of playing any opportunity to win some big cats and that's why you see those big tournaments that the WTO -- Bethany and FFC India FF open championship grab a crowned it's 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."

" Cranky and I -- a total novice here but is it a lot less cake. Going to the movies I mean I can still work 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 I can pull off a movie. This isn't a load of money it's entertainment for me. Even if I'm struggling money's tight and could still afford to do is connected to have really become a reference and children according to common thing."

" Yeah it's it means 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 -- locally get at work or whether it be. You don't want to look high stakes leagues there's an opportunity for the -- in the first eight months of the year to save the money to play and 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 leagues."

" Greg you mention that passion that's sort of plays in still. Advertisers out there looking for ways to really directly target passionate audience that I know. Snickers and that's why -- Netanyahu has been involved heavily in this obviously with no CBS sportsline too but. Ford Motor Co. Coors Light it seems like more advertisers are jumping on board here because. This is such a dedicated group are 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 ages somewhere between 22 and and I would think 45 and most of them are male but there is they've about an 18% female. Demographic there and and everybody spending money in these people are passionate. They're college educated for the most part. And they make average household income of 85000 dollars for the people."

" Grab some discretionary funds to spend spend most of -- jobs which leads to the next question which we see we see this -- old time model and NCAA tournament is going on his -- Much productivity do we lose it's a serious question now that it had everybody for the study out of how you measure but job. What what do you think companies make of all the time that we spend too worried about a fantasy teams during football season. They kept the companies that would that people -- Apple corps for yeah. Yeah I."

" 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 online. Second of 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 -- you take recess away from elementary kids same thing with us we're just I --"

" correlation. I I said. Entrees and out spoiled us with -- actually Craig to fall on that I saw an article on CIO dot com TV information officer dot com about it. What they found attended had an estimated ten half billion dollars in productivity is lost. From the NFL as a whole people either watching the NFL are talking about the NFL are doing their fantasy. And challenger gray and Chris has put out reports an average of nearly one point two hours per week. Individuals. Spend dealing with their fantasy -- so out of a forty hour work week. One point two of those forty hours -- spent solely doing on your fantasy draft."

" McCormack about the -- that aren't always not been -- if not we here at the thought is that we're quite. One point two hours a week working on your personal finances to -- well well you know it's all one big story -- Everybody's personal but I wanted to -- and and up up and -- your personal finances are 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 -- respectively clear to consolidate it into the Julia FL. Craig you I get a guy in my block actually is in about five weeks I don't know how to -- identity. Without -- side with you what you you've got to begin at this thing you're working your website how many teams you have institute right now. I -- twelve leagues right now twelve -- I don't know if not twelve weeks totally -- college NFL. Now almost all of this into Melamine that there are college leaked out there but not nearly populate will definitely needs. -- it right now I don't know if I had. --"

" But the guy has quickly and indeed get the same response from basketball and NASCAR as Chris -- apparently is barred do you get that same kind of enthusiasm."

" From all those other -- as well. Now and if football is clearly number one in fact and 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 hockey's up a little bit -- you mentioned you like NASCAR difficulty even -- example I think -- replacement. I do I play like seven to defending champion had been on the podium every single year. We haven't you this -- NASCAR. So NASCAR scene with we've we've got. -- we saw the numbers that we don't that we got something called the big -- where you have an opportunity to pick drivers. And they compete against each other and you can win cash prizes -- just taken drivers are back to football for a minute that -- the sleeper in the fantasy were younger viewers -- like that mean they're looking to pick up created something like that. We -- 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. -- You know might not figures -- and all the time -- actually taking you know so many easily really got to -- deep to get the second and third acts incidents we all day on I."

" And then I think cheerleader -- against -- and they should be able to pick correspondent cheerleaders for the Pittsburgh appointments. Why they'd like for example buried. But we've agreed with just about everything so wrap this up you know the University of Mississippi I I got found all these studies on this -- this is the oldest actually ran a study where they found that 60% of those that -- fantasy football watch the pregame shows where most of us don't know what is want to watch the game well that's great for advertisers. 50% more than 50% don't drink beer during the game because all the business for them. They don't want to get done you know popular that was exactly what happened and are drafted here at the -- the I cannot live -- death yet everybody -- drinking this guy did not have after the draft the beer but during the draft focused he was fifty Roberts and 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. There is an old loud aggressive Mississippi report U verse in the cities that connect impeachment."

" Cotter for the home again. Right but thank you sir appreciate that hey Craig good to talk to thanks for coming on. Thanks for the guys haven't yet appreciated -- on let this evening running back -- your -- My crystal talk about what have you back and we do our fancy lingerie segment and I know and look for good men into modeling but I don't lobby -- judge -- But that's I could better understand the -- fantasy NASCAR more baptists. I'm stumped. Yeah thank you could ask Peter Barnes he's coming up next knows a little bit about everything and he's also going to get to health care. And we've got David has been little bit later on lot more still to come we're just get warmed up congressman Kevin Brady -- festivals with them on foxbusiness.com. -- he distinguish yourself very well Tracy of that fantasy. Segment. I think he did you held your own so to speak it at at the economic fantasy leaguer that that is the contribution she did make Turkey I thought to keeping the conversation gone. In the wrong direction coming up like -- of -- of our -- is out of I didn't see now the 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 what -- for some polling numbers really get 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 what I call numbers. That's you know on -- and there are and there are some not people that -- criticizing on this proposal that's fantasy health care so why not right we don't have to connect. Yeah. But well today -- reaction down here is is this kind of breaking down along party lines are getting a lot of Democrats that there are saying hey president -- good job Mendez proposal is solid. And you get a lot of Republicans who are saying hey you know -- we still like this public option this idea of a government run health insurance company to compete against. Private insurers because they fear is a back doorway. Two for a 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 his the value he -- 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 toward the senator by talking about you know trigger. On. The in the planning case spending does not that. I come -- has projected that triggered her would trigger spending cuts that if the programs spent too much money -- 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 -- and in a 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 get the bounce bounce in the polls would show will probably see another polling at the comes out and a couple of dozen Nestle doesn't end that I -- not yet -- and it means a done deal."

" Wanna give you my minor minor league analysis on this a little bit I'm looking at their 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 you 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 -- 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 and said you were not vote this thing unless the public option. Now she's got to figure out how he's gonna make them vote for a plan has -- public option."

" That right. 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 the all the issues with having to get sixty votes to get past filibuster. 51 that a majority a 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 appointee of democratic senators -- about. 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. Where -- public option currently something with a trigger for public option. Through the house and in the Senate will approved its packages -- they'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 rock the the way baucus wants to go 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 to trigger so given 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 going to have to get health insurance and that could mean millions of new customers for health insurance companies to."

" But Peter I -- I can't really is that. Public plan wrapped in a different box with a pretty bow at the end of the day so they're going to prepackaged hit 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 going to pay -- I went through boxes. Bill his suggestions at the end of how he's going to 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 idealists in their pockets sure they're not going to call in across the board tax hike but you're going to 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 them."

" 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 going to pay -- 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 build whipping boy here in Washington waste fraud and abuse. -- you know everybody says they're going to do that it and it never happens but then. The president did specifically endorse this idea. Of fees or assessments or taxes. On health insurance companies. That provide these Cadillac. Coverage plans you know the plans that are there that 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. -- also what well actually no he didn't he didn't endorse. Well he endorsed individual mandates you know in in all the proposals people who do not. Get who go out buy health insurance and then -- will be forced -- state Medicaid. Or into emergency rooms to get their primary care. They the house and senate plans do impose. Penalties on people who do not. Who do not join in 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 for -- a source of funding as well."

" Okay Peter -- great reporting as always thank you -- the White House for us today must bring in congressman Brady congressman Kevin Brady. 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 break -- senses tell us what you heard from the president that may give you. An idea about whether or not we can -- 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 same product from -- public's not buying it in. I was surprised he spends much time attacking us and attacking others and Europeans and by the way. Can we start dating again missing Mike and I'm awfully lot of growth in the -- given a joint session of congress very. Very biased area partisan speech."

" Sarah I I just ask our reporter Peter Barnes about this that there was no timeline though he didn't offer anything silly and even left a hole in the I am hoping very gained. As you said it was same thing different day. Prepackaged information. No timeline so it 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 in especially in our town halls every cold. The public wants us to go back to drawing board. The go back and on board 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. I don't I just don't think the president is really listening to the country. All right let's try to figure out what dub you guys agree on you know Republican Party in that gets criticized gets criticized by the Democrats often is a quote -- quote 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 of Nancy Pelosi in the pan for example my house is not going to bring the bill before so. Yeah you have the -- here on the show let's talk congressman about what. There is agreement on that the president said that we agree about 80%. And others have used 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 number of that I do you think we ought to start -- besides fix Medicare first. Its coverage covering people who work for small businesses especially part timers. Those who in between jobs in those who have preexisting illnesses I think -- Agreement we need to cover. They want to do with the government plan we want to actually kicked down all the state and federal barriers provide. More private planes for people so just a huge philosophical differences and how we get there but there is agreement we need to get there."

" I guess a couple of upside 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. -- did talk about the death penalty of death panels he called them just in a life suggesting that the you know there's been nothing out there about that. I mean that's me 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 and it will get worse so. I guess I'm still puzzled whose audience was happened -- The American public they're too knowledgeable maybe it was Democrats in the chamber. Well Republicans in the chamber of the AIS I don't want that to me that's one persistently relive that what's this guy Joe Wilson like by the way. He's a very southern gentlemen very slow to anger very even. Mild man I want him last night says it's hard to deal and I wasn't. Well yeah when you let your emotions get get a better view it's never good but is a partisan speech unfortunate vote of."

" Hours in 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 in trade resurface on the table again. You've got a lot on your plate -- 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 going to come back but. I think of that vote were held today in the house he wouldn't pass I think the -- the country's changed. Dramatically and if congress isn't paying attention for the White House isn't listening like they're not on healthcare they're going to 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 had because. You know not to minimize the impact that you could happen as we mentioned earlier the Republicans are marginalized the -- and House of Representatives if that if the Democrats want to 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. You know government takeover war the blue dogs who are against the government option. So do they come together you you think they're going to -- something wrong you guys -- 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 piecemeal through reconciliation. Both of those are really bad options especially since as you said we're we're rating -- with some some good ideas were rated sit down. Questions will bailouts do it. Yeah I don't know I don't know -- things I've heard -- could hit it could pass in the Senate with no public option caucuses. Bob -- and that it could pass in the house with the public option because a lot of support and once they -- in the conference in the try to iron out so that comes back the house with no public option. You repeat the Liberal Democrats would then not vote for. Now we have nothing -- but you're right now they're saying -- They're saying they're not going to vote for -- but our goal is not to kill this bill. Our our -- to have real real reform in. Just not not a government -- reforms and give us a place where we can compromise. Logical read a reasonable. Place where we can come together and get something real done. Covering small businesses by lowering your taxes and providing them more help. Covering people in between jobs with the worker backpack and allows them to pick a point in the season ticket 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 that is a great starting point."

" If you had your druthers what you have even. Broached this subject at all at this point we came into this administration and in the middle but financial crisis. We should be focusing on that we are we're doing a lot of things I understand -- health care system needs to be overhauled 215 trillion dollars lot of money being wasted. But in 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 in 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 you're taking on today which again American public just isn't buying it they're listening they'll go back to drawing board. -- in favor more incremental approach that's a good question facing disaster in the criticism of the president. To a large extent congressman what do you think of the cops caught versus 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 a single Payer system. I think they're both head of that -- you brought that up earlier to a 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 explicitly 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 -- battles aren't government run they're not government run and we have caught in -- we have. Cost of other industries even in this industry to some extent. We have credit -- to the banking industry for example which a lot of people compared to this model and that seems to work out okay that this is a privately held nonprofits right what's wrong about. -- we start with six billion dollars of American taxpayers you're certainly not starting. On a level playing field it will be government controlled at the outset. No assurance. Really that it will go into a co -- system and again I watched how Medicare part BRR doctors. Started in became 97% market I've watched how student loans from the government said reducing the trade of small government option. Now student loans from the federal government or two thirds market. Anytime the government starts it it grows into the dominant force and I act I've yet to be told -- the co ops won't evolve into that. Now we're about what happens on but it has got every."

" Money involved happening not possible and then there's not much difference when you put government money into the fund to start this thing and you still got that I want -- thinking man."

" Now I mean that's my conception and it did the government money as this is again is is going to be used for start up at the end of the day. That's much less government involvement than a -- and public dollars and which they're going to run on the at the Georgia campus. -- memory in this bill co opt for public option after five years this new health czar is going to have to prove every plan offered in exchange. And they will still be running. The co ops at that point so you've got to -- here. -- balls or strikes not a level playing field. Okay congressman thank you could talk to get out west you appreciate it -- Faster -- 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 that because the bills are all different so we try to get into it very interesting I'm not I'm not woods. He would tackle this. Thumbs up yeah. -- your question because that you're right that's been the criticism by present a lot of would say hey look with the economy we got a rating on Wendy's now the time. And he says yeah it is it is 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 that 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 the lines -- public option. That the votes are there in the Senate for the co -- and then it's up the policy to grab those votes in the house and then she might be able to do it because. The debt 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 that look I think -- right about that -- we got a big election coming up some of these guys want to go out there back to the constituents and say for the record I voted -- back because they know full well if they don't get it done the Republicans say listen we kill this and we're -- and they can use that in 2010 whereas if -- Democrat you're going to want to have something to run on. Even if it's not exactly what you have in mind anyway we'll see that on plays out next -- you're really -- what. By the way David as and so coming with his story of the year we don't know that might be coming up when an anniversary and -- next door start of summer series continues with it was a great. Little idea how you can get energy to charge. Some years devices that you like to use his running around. Record very -- this is not a problem."

" satirist mark had to say you have kinetic energy hit every -- 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 for the non engineers. That's fair and above -- 12 o'clock -- well I've learned what Panetta was -- very good at something out of it -- in the U joins us."

" Coming on electronics and hopefully they'll all pick a lot more about this than we do but the ideas. You want around right Aaron and you create energy makes sense and then you do what. Through your company with energy."

" Our company is not -- and electric and now 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 a small device that weighs about nine ounces and you put inside of a backpack or briefcase or purse and as you walk along and harvest your human kinetic energy. Recharges your mobile electronic devices. While but not -- laptop right. We're not at the -- laptop level yet but hopefully with the next two years we won't have to worry about that issue either -- like a flattening the shaker flashlights. Right. The shaker flashlights are using the fair and -- so long. We like to say that we using the fair and a principal and a lot of principles of Albert Einstein. I'll packaged in a guy nine ounce container that. OK well without going too deep into its we have no clue what you're talking about how a society where you know I haven't gotten it under this plan works is that time. -- anything that has motion to -- so goes up and down her back and forth left or right side to side has kinetic energy and it. And all we essentially do -- tap into that Connecticut energy. We the 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 the certainly right -- at the end of Disney's -- you guys. Well you know Obama -- we've seen kinetic energy harvesting devices and smaller scales so like the F perpetual motion wrist watches I think that's a fine example -- Connecticut are acting like an analogy."

" Let the battery like a -- to air although they rot they'd run because your own risk keeps moving so -- and that being said you need you know there's those little. Watch movers that movie I think one year it's in standstill on keeping 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 mister --"

" If -- yeah of course you can always keep on dancing or around you know when you're in a car and die as you're as you're going down the -- say let's take a commuter application and AM 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 -- 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 any is in -- with certain phones or would you across the board. We can go across the board we can charge in 90% of all common held -- hand held mobile electronic devices at this time. Basically anything that tell you can charge with a 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 -- both of us. It doesn't store energy though right it it just it it's used -- for the moment and then might have to redo it again. That's correct and basically we put out the exact same amount of power as the wall outlet does relative care device. So periods of plugging your phone into the wall for an -- recharging it. To say was 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 -- and nutrition into laptops -- mean. We're going to be able to do this with a lot of different devices not just the small ones eventually. What -- yes that's true and other technology is very scalable so long as some of the other items that so we're 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 not a Great Lakes around in the ocean. And it bobs up and down on the waves -- and harvest up to fifty kilowatts of electrical power."

" Pretty -- people -- how we have to try this thing out when it comes on the market Aaron thank you very much. Yeah appreciate it and we'll do with this and that in the company. True about electric and that's a pretty cool device you trying to -- can run around him think -- through my -- triumph charged -- mailing -- and you forget to return to thing united and that's you know 1000 things from them too much going on too much. All right. The sort of summer figured out it was a really -- today. From the Monterrey in the fantasy football. Actually I have. We didn't actually have a segment I'll Montrae but it feels like we did them today yeah. Why containing wet and actually David has no ideal -- if you look like he's coming up next. Foxbusiness.com. Life. We flight that's on Monterey comment to -- David wasn't here earlier when we -- talk about fantasy football. And you thought we were going to talk about Monterey. Simple to say the company called fantasy planet I don't think I was not far off no I don't think so and -- Chris -- pointed out we always had shifted mid gear without over you know. Without a problem and should the topics to give topics David as it is here to get yours."

" Not talk about I -- about Israel want to see a demonstration of laundry it's it's as simple navy. -- of vanity lingerie and leave. The moneymaker. I'm always thinking and sit on his. Are always think you're at the very least the third brilliant idea you've had to -- area 51 minutes are doing is about an anti gravity machine last night but I woke up from forgot that formula so I'm not -- Believable that the -- like god so anyway but all week long we've been having -- we had liaison with -- on yesterday in front solve the lizard or the identity. The habit -- that are not count why. Oh yeah that's right my -- different -- online order bed facility which a couple of talking about stories of the year to recover a little Lehman Brothers anniversary you know we're going to be talking about it."

" Nauseam here as we headed next next week. About your stated by senator I think is going to be healthcare. Right now -- guys -- centered -- you have a -- to senator what's happening right now but it's just it's such a big thing and it to find that. In a negative way the Clinton presidency earliest the first half of the Clinton presidency I guess the impeachment departments are going to. But remember. Sixteen years ago when Bill Clinton held up that -- instead -- 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 going to veto I'm going to use is going to be. Well he never got the bill because it was never -- in the same. My inevitable although it does if Obama does get the bill that he can sign and is that's that is the huge. Introduction please -- 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 O'Reilly about whether or not he would abandon it. The public option the idea of creating a new government health insurance to cover the uninsured. Bildt said he did candidate I don't like god that's I was reading between the lines I I don't I don't agree I think he's he's standing full square behind it and so apparently to close these are very angry. So I don't know what. We'll see what happens but the bottom line 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 your job iron."

" Our role as a lot distortion I I read it the way you read it the whole thing was wishy -- and."

" Discount one add another he basically said nothing at the that was my point -- wishy washy was that if he really want this public option he would've 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 mowing the think about it if you're president you really want something yeah I don't I don't know they can lead that."

" Doors a lot of I gotta I gotta focus on the bad headlines which is this story of course even though it's kind of a minor story but that dragged screaming -- you lie again I'll talk about that you know again. Even know 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 to different now into that 46 million. Are not US citizen right right so he's going to cover 46 million he's going to be covering people or not you as you know the clubhouse and the last day or so is really started using the number thirty million as opposed to 46 million to your point because they realize that that doesn't sell about a -- lives right to say a couple of weeks ago say but what."

" Last couple days we weren't 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 -- just remember what happened to Bill Clinton went and remember that 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 -- papers. But we're going to have less bureaucracy by creating a another bureaucracy it doesn't makes. -- make sense to me and to millions of Americans -- until he can deal with that question. I don't think he gets built do you think we can go -- to -- talent since with. -- Health care but we've had all these huge stories we've all covered for the past year and Lehman Brothers and even if you throw an earlier Bear Stearns and Fannie and Freddie in the stock market crashing in. And everything else that's -- been. 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 reportedly -- I've been against I was against our from the beginning from all these bailouts. Tracy have been talking about it for a long time -- forward and other shows. But but this is the first issue with which the the American people -- that -- essentially no further -- all of these bailouts all of this expansion -- of government control of the -- Bruno did -- line here if we didn't have all those other stories -- the -- 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 I have and I've heard that question -- before and -- I don't think -- I don't think it would have as -- backlash had he started hitting it of course he had to deal with TARP because Y yeah up by President Bush him was not it was nominal Bob went original resumes -- Mr. Bush failed plan. And had 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 mean when Clinton was proposing trillions and trillions you're right we're talking millions it was going to cost millions of dollars and there was backlash an -- that kind of money we can't them company now here we are talking billions and trillions. And I think maybe that you know -- in -- way it was a blessing the financial crisis because it didn't wake 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 -- 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 savings that 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 departs 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 -- could mean. We could -- completely academic discussion because as people who do support it would sail along with the alternative unemployment what do went higher and they don't know that. But they're using models and saying all we've at a higher unemployment if we didn't do this and you're saying well we should've done we should have done it 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 end -- first. Act of the banking crisis but whether that 234 is 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."

" Dinner and you know common your 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 going to see is massive regulation. And in typical DC form we regulate. Behind people so. And we moved not mean really the brilliant -- and technologies will have a good time and the next and that's bubbles forming as we speak and we're going to be regulating the old ones that probably are no longer in this -- he 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 that pretty much disappeared in the first wave after Lehman is beginning to re formed there's a new group. Realizing that there's a lack of credit out there sure a new group of of boutiques are saying she would get all this cash from the sidelines a couple of trillions of dollars in cash and -- people won't invest in the in the market. Maybe we should start boutique firms -- start -- that cash out with clean balance sheets which is a nice way to start them."

" All right I've been great to see that there still could -- go to another hour. Back -- it was quite an event. Up at 4 o'clock Bulls and Bears swim on scoreboard myself collapse Jimmy Johnson's productive -- we also you know this this did what -- tennis star Melanie melody who -- yeah we have -- rutelli who's one of the best that the NFL coaches in the world he's going to be coming on 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 and I. America's nightly scoreboard I think it has been at 7 PM thank you thank you very all right guys we'll see tomorrow night this dot com live. Noon eastern time between now they need to check this -- Hulu -- all our lives today."