Neil Cavuto was on vacation this week. Dagen McDowell hosted and was joined by Gregg Hymowitz, founder of Entrust Capital; Jim Rogers, president of JimRogers.com; Col. Bill Cowan, FOX News military analyst; Mike Norman, founder of the Economic Contrarian Update; Carlos Watson, Democratic strategist.
Help or Hurt our Market?
Dagen McDowell: President Bush wrapping up a week long trip to Africa (search), where the big question following him is will he use our military to help keep peace in Liberia? Gregg Hymowitz says sending troops to Liberia would be good for America and our market.
Gregg Hymowitz: Sending troops to Liberia would help stabilize the region. And would help us help the region to develop its natural resources, including oil. Oil is vitally important to the U.S. The U.S. already imports roughly 16 percent of their oil from sub-Saharan Africa. And sub-Saharan Africa has 7 percent of all reserves. Al Qaeda operatives are also in Africa and we need to establish friends in the area to help combat terrorists.
Jim Rogers: Liberia doesn't have any oil. There's no oil there for a thousand miles.
Gregg Hymowitz: I know, I’m talking about the region. By helping Liberia, we help the region.
Col. Cowan: Gregg's absolutely right. We have things in that continent that we need to do. And we're going to do them. We have a Pentagon team there right now analyzing that area.
Mike Norman: Going to Liberia will help us because the government will be spending more money and we need stimulus spending now.
Jim Rogers: Are you saying we should invade Liberia to help the U.S. economy?
Mike Norman: No, but the question is “if we do go, will it help the economy? And that’s what I say yes to. Government spending will be a stimulus to the economy.
Jim Rogers: Let's spend money here then.
Dagen McDowell: Colonel, what happens if we have another black hawk down incident like we did in Somalia?
Col. Cowan: We won't have an incident like that. Here we have a small peace keeping group augmented by other forces. All eyes in Africa are on us right now to see if we're going to go in and help them resolve their problems. We're just there to stabilize the situation. African countries can come in and take over the real major responsibilities.
Jim Rogers: Those African countries have been trying to stabilize that country for the last 14 years.
Col. Cowan: But without our help. Now they have our help.
Gregg Hymowitz: Jim what is your solution? Should we ignore these places and never get involved? Getting involved means a positive for the economy and a positive for the markets. We need to engage the people of Africa and open up trade to that country.
Jim Rogers: There are 900 million people in that country and it's the second largest continent in the world. How are you going to engage all those people by going to war in every bad country. Should we go into Zimbabwe or Angola too?
More for Your Money
Dagen McDowell: The NASDAQ rocketing 35 percent in the last four months. But, is this a new tech bull or a new tech bubble?
Price Headley: It's a bubble. It's nothing like the late 90's bubble but it is a mini-bubble. I think the important question is how long will this last. I think this bubble will last only another month or two.