tv Cashin In FOX Business April 26, 2015 3:30am-4:01am EDT
cloud, internet connectivity. it's huge. >> i like this stock, buy it on the dip. >> okay that's it for forbes on x tofox, everybody. thank you for watching. continues now with eric bolling and "cashing in." while the president uses gas guzzling air force one to sell his green agenda this week we're learning this. a record number of consumers are now trading in their electric cars for gas guzzling suvs and ford laying off workers at green car plants. does this mean americans aren't buying what the administration is selling? hi everyone i'm eric bolling. welcome to "cashing in." lisa let's start with you. the auto research website ed mons.com now saying 20% of people would traded in their hybrids and electric vehicles in 2015 bought a new suv.
>> literally not buying what president obama's selling here. he's trying to give them away with a $7500 tax credit. the problem is president obama's entire green agenda is rooted in fanaticism rather than reality. the reality is his green agenda has cost taxpayers hundreds of billions of dollars and has failed to create the jobs and has failed to create the projects he's promised us. >> michelle i remember president obama a couple years back saying by 2015 we will have 1 million vehicles electric vehicles on the road. it's 2015 last i checked. he's short of his goal. >> look the president wants everyone to be environmentalists. what was he doing on earth day? oh that's right. he was flying air force one all the way to florida. burning 9,000 gallons of fuel. look the problem is you cannot create demand for something that americans don't want. what they don't want is they don't want electric cars. the problem with picking winners and losers which is what this
administration doing when it comes to industry and businesses is that the taxpayer is the one who ends up losing. it's all our money who is pushed for electric cars and our money that is wasted. >> did we waste, as lisa points out, hundreds of billions of dollars on this green agenda? >> not at all. i mean that's the future. you know what you see is right now. gas prices are low, people are feeling good the economy's coming back so people are saying hey, i'm going to get me that car and i don't have to worry about, you know, gas economy. well you know, this can be short sighted. but have a good time. >> what about it john? the ford auto plants laying people off because they're not selling enough hybrids and electric cars. >> it's hard to have a good time. we've spent hundreds of billions of dollars. that's actually people's taxes. that's money people could have used for their own lives. this whole green energy program, certainly the green car program, has been a total disaster. hard to underestimate how big of a disaster. some estimates, we've spent $200,000 per electric car that's
now on the road. incentives and tax giveaways and everything else. not surprising why this has been such a desatter. to michelle's point, this has been all about government using force against innocent people who frankly get a lot more value out of a pickup truck than they do an electric car. >> did we waste a ton of taxpayer money? >> oh yes. you have to go back and look at all of the amount that has been spent on slor panels that didn't work and on wind farms that didn't work and all of these various alternative sources of energy that didn't work. the biggest problem of course the interference in the free market. people who want to buy -- if somebody wants to buy a pickup truck and it's burning a lot more than some electric car, he's going to do it. gas prices are down not because of the government gas prices are down because we came along and we started doing things like -- >> yeah the free market. the free market solved the gasoline price problem. we should let the free market --
>> state and local level -- >> pull up the -- this is hypocrisy alert. this was the week of earth day. total total hypocrisy. albert brooks states i can't take global warming advice from celebrities who fly private. bill nye. i thought he was being sarcastic. heading down to d.c. to catch earth day flight on air force one tomorrow with the president. we're going to #actonclimate. michelle wow. he wasn't kidding. he actually did that. >> they're all hypocrites. this is why the american people aren't on board with all this climate change talk. because they don't really trust the people. you know they say we're all going to die because we're making the world too hot. now we're making it too cold. if you look at polls, only 28% of americans actually think climate change is a big issue. they're not going to buy an electric car when they don't trust the people saying we have
climate change. >> once again, here's president obama animal farm. all the animals are equal except some like i guess bill nye the science guy and obama himself. just a little bit more equal. this is all about the green movement. making people's lives more difficult. making it more expenseive to buy gas, work bring their kids to school. that's what the green movement's been about. >> i love this show because i get to hear the rich talk about the hypocrisy of people. >> oh come on. >> tessa -- why is tesla doing so well. why is it that -- >> because there's a problem -- >> the biggest problem, eric -- >> i just think you guys accuse -- >> the biggest problem here -- >> -- hypocrisy because the president flies to a site to do an earth day event -- >> on earth day. >> i mean every president flies on air force one -- >> juan juan -- >> the biggest problem is president obama is standing in
the way of economic growth. he's standing in the way of american jobs. he's roped off federal lands -- >> let me say something -- >> no the reason why gas prices are low is because -- >> stop stop stop -- >> -- state and local level -- >> for just a second -- >> not president obama, juan -- >> yes, president obama. when republicans and the rich were saying let detroit disappear, it was obama. >> no guys let me bring wayne in here. >> i don't think president obama saved the auto industry. president obama saved the auto industry in detroit but took it away from the auto industry in the right to work states like tennessee and georgia and other states down south, texas for example. the auto industry would move there. >> yes, that's true. eric. the market is going to follow where there's demand. people are building suvs and things like that because there's demand for it. if the demand isn't there for electric cars they're not going to build them. you can't create demand just out
of whole cloth, it has to be there, the people have to want that. >> juan talks about the government saving the automakers it juan taxpayers lost money on those gm deals. >> they did not. >> yes. >> we lost money on the auto bailout -- >> john john john -- >> and where are all the chevy volts -- >> what's a few million bucks among taxpayers. let's call that a wash. last thought. >> the problem that all of you seem to engage in is you don't understand government should invest and compete with other countries that are coming up with alternative energy and we should not be dependent on middle eastern oil. >> that is called socialism. >> that's completely against everything we believe here and talk about here. governments shouldn't compete. that's a whole other topic. >> we should be dependent on middle eastern oil, eric? >> of course not. all right, we'll have to leave it there.
law has another major side effect for taxpayers. a new report showing food stamp signups are rising in 11 states because of obamacare. michelle we knew the law had problems. this is one we didn't see coming though. >> obamacare is the gift that keeps on giving. not only can you go online and sign up for obamacare but now with a click of the button you can sign up for basically the life of julia, where you can sign up for food stamps much more than ever before because of obamacare. since obamacare has been implemented more than 600,000 people signed up for food stamps. this costs $79 million a month. we have $18 trillion of debt. how are we paying for this? it's crazy. >> one of the reasons is the new streamline system for signups. by the way, do you need food stamps? check that box over there. >> just check a box. you get food stamps. they put a calculator on these websites so you can determine how much you get in food stamps. obamacare was never about health
care. was always about control and government got it. government is now at the middle right in the crux of all-american health care. the side effects are just starting. we've seen premiums go up. we've seen doctors leaving the practice. of course once an entitlement is established in this country, it will never go away. the problems for obamacare will continue to pile up just like medicare medicaid social security and every other government freebie. >> 632,000 people added to the food stamp rolls. in nevada alone, up 14%. people who didn't need food stamps before all a sudden realize it? >> generally, it's 1% to 6%. the real issue here is these people qualify. these are people who are in need of the food. and the idea that some say, oh this is terrible -- >> but they didn't know before? >> that's right. we as americans established this program to make sure that children that those in need don't starve. that's bad? >> yeah at least no waste,
fraud or aibuseabuse. >> this is exactly what obama and liberals want. they want a society that is completely dependent on the federal government from the cradle to the grave. >> you want them starving in the streets. >> two-thirds of spending last year two-thirds of all federal spending last year went to entitlement programs. we can't afford these programs juan. >> you know what it was, social security medicare. why don't you talk -- >> -- insolvency let's throw another big entitlement in the mix -- >> go after the poor. don't mention the seniors -- >> let's throw obamacare in there for good measure, why not. >> here's where we are. when president obama handed the reins to president obama, food stamp usage was around $40 billion. now it peaked at around $80 billion. it's backed off to about $75 billion. but i thought things were so much better. when do we get back to the $40
billion number? >> i think as the economy improves you'll get back to it. the point here is that the confusion here is the federal government uses every opportunity to sell itself. you say, well you come up on obamacare and over here if you check this box, you get free food. over here if you check this box, your taxes go down. if you check this box, somebody else pays for it. it's the problem of selling it. that's what's wrong. >> well they're selling it very very well. we have to leave it there, guys i'm sorry. from regulation nation to raising those regulations. it's a supreme court battle between a raisin farmer and uncle sam. should a government be able to seize a chunk of product to regulate prices? >> all i wan
to the farmer raising hell. did you know there's actually a law that allows a government to seize property private property to regulate prices thanks to this farmer's supreme court fight? >> the government can come into your house and say, well, you don't need this and you don't need that and we need this for society and you're going to have to give it up. and they don't pay you for it. that's what every citizen should be worried about. >> wayne, you're fired up about this. >> well eric this goes back a long way, to when roosevelt was president. to a case called wicker versus.
where a wheat farmer was growing wheat for himself, his own consumption, and they said he was interfering in the marketing order that was then -- president of the united states because otherwise if he didn't grow the wheat he would have gone to the marketplace himself and bought the wheat. this is the most outrageous assumption of power by the supreme court and by the government where they can tell you what you can grow what you can't grow what you can sell what you can't sell. by the way, if you violate it we're going to fine you and take your property away. >> there are payment in kind programs where the government pays farmers not to produce their farmland because they want prices. this is different, though they want to take this guy's product. they say they can do it constitutional. can they? >> well it's all manipulation. it's all price controls. this goes back to the late 1930s. there's 20-plus different crops where government dictates how much can be grown, where it goes et cetera.
and government should have no role in architecture at all. it didn't have any role up until the early 1900s. now you've got the usda telling people what it can grow what kids should have on their plates every morning. every element of agriculture in this country. there's no free market anymore. >> juan you're our libertarian, right, you should be really against this program. >> i thought wayne did it really well. the principle sounds like government interference. let me just note that you've got 16,000 farmers who are siding with the government here because it keeps up the prices at times when market goes down. the farmers don't want to disappear, they want to do business. don't forget farm subsidies. in kind. when farmers don't even cultivate land. because the government wants to make sure we can all eat. >> these are all free market policies. >> all this equates to is an
acareaold law to dictate these policies. >> where are you at i'm guessing you're with -- >> yes, like they said the stupid law goes back to the new deal era. there's nothing more depressing than a depression-era-fdr economic policy. the government can't take anything from people unless they compensate them. and they aren't compensating these families. i hope they win. >> can i just point out, the fifth amendment, you know the one, preserve my right to remain soilant, also toward the end of the fifth amendment says the government shall not take private property for public use without just compensation. >> there's no public use in manipulating prices. there's only collectivist use. look at -- reference what juan
just said. if it wasn't for government intervention we'd all starve. i mean that is patently false, completely -- that is the methodology. that's the ideas that people all this intervention into what should be a free market. >> i was going to say, there's something more fundamental to this. you think back how the security made supreme court made this decision. we have the same thing about obamacare. chief justice roberts who did not listen to the arguments that came before the court on obamacare. he had to reach outside of that and call this a tax in order to make it valid. and that's what's scary, is the supreme court is substituteing its own judgment for the constitution of the united states. that has to stop. >> where have i hrd that reaching over and calling it a tax. oh that was like obamacare. we have to leave it there. wake up america. california's massive water drought having a ripple effect ar
i want to say thanks to our cashing in crew for joining us. you can head over to foxnews.com/cashing in to see stock picks. did you happen to see how we introduced michelle last week? >> juan with lipstick -- >> that was the most wonderful compliment. anybody who can look like michelle fields. >> where did jonathan go? that's the best jonathan's
looked in the last few weeks. >> come back jonathan. >> time to wake up america. california has a massive water problem. don't think it's california's problem alone. the golden state now turning brown produces one-half of all fruits nuts and vegetables consumed in america and prices are rising across the board. they should have planned for dry skies but the liberal state directed water away from farming areas in order to protect wildlife. billions of gallons of water are diverted away from the delta region into the ocean every day to protect a delta smelt, a two-inch fish. more than 30% of water runoff is allowed to drain into the pacific ocean. wake up california. you don't have a water supply problem. you have a water management problem. the state has a massive annual water runoff surplus. but for 40 years, almost uninterrupted heavy-handed democratic control of the state's legislature has
california drying up. hundreds of billions of tax dollars mismanaged could have been used for preparing for dry periods. the state has a gdp of $2.3 trillion. why weren't billions spent planning for a nonrainy day? instead of protecting a two-inch nonedible fish? insane liberal policyies and politicians in activist's pockets. that's why. now the chickens have come home to roost and california is dying of thirst literally. it doesn't have to be this way. reverting to the national flow of rain water could solve california's water crisis almost overnight. a pipeline from the northern region where rain is plentiful is a great solution. it cost big money. or going to a market-based system for pricing water could work as well. you use more you pay more. simple right? any of those solutions could work. but they'll never see the light of day. why? california's loaded with liberals. liberals don't possess logic,
common sense or business sense. let's be clear. the california drought isn't man made it's liberal man made. so let's not blame mother nature. blame liberal lonnelic. thank you for the work that amsterdam has done. i thank the abu dhabi global initiative for bringing us all here. thank you. thank you. thank you. thank you very much. >> the clintons have been cashing in. >> they took in something like $136 million. >> but have they also been selling out? >> everybody walked away from the table that night with something. >> reporter: the clinton's influence is spelled all over the globe. >> bill clinton did a good job. >> it sounds like there's a but here. >> will it all come back to haunt hillary? >> we are talking about iranians we are talking about russ