• With: Jonathan Hoenig, John Layfield, Christian Dorsey, Tracy Byrnes, Wayne Rogers

    DISCLAIMER: THE FOLLOWING "Cost of Freedom Recap" CONTAINS STRONG OPINIONS WHICH ARE NOT A REFLECTION OF THE OPINIONS OF FOX NEWS AND SHOULD NOT BE RELIED UPON AS INVESTMENT ADVICE WHEN MAKING PERSONAL INVESTMENT DECISIONS. IT IS FOX NEWS' POLICY THAT CONTRIBUTORS DISCLOSE POSITIONS THEY HOLD IN STOCKS THEY DISCUSS, THOUGH POSITIONS MAY CHANGE. READERS OF "Cost of Freedom Recap" MUST TAKE RESPONSIBILITY FOR THEIR OWN INVESTMENT DECISIONS.

    IS RICKY PERRY'S SUGGESTION OF FREEZING GOVERNMENT REGULATIONS A GOOD START TO HEAT UP THE JOB MARKET?

    JONATHAN HOENIG: Governor Perry unfortunately doesn't go far enough. We don't need a six month moratorium on federal regulation -- we need an end to the policy of regulations, specifically over the economy. People think that "free market" means, "free, do whatever you want," it's obviously not. It means free from government. This whole entire regulatory state we have is immoral, it's impractical, and it makes honest business people guilty before they've committed any crime. It's harder to hire, harder to profit, and it should be done away with for the benefit of the economy and for the benefit of jobs.

    JOHN LAYFIELD: We're the only developed country in the world without an economic plan, without a budget plan, tax plan, energy plan, immigration plan, it's unbelievable the lack of leadership that's going on in D.C. right now. We have all of them on vacation -- I'd fire all 535 guys in Congress and the Senate right now, tell the president not to come back. I'd replace him, I think that would help significantly. But, I think down here in the great state we don't have a lack of regulation, it's not "no" regulation, its business friendly regulation. Texas has traded a third of the jobs since the recession and in times up to half the jobs because of business friendly regulation. Congress has a knee-jerk reaction to regulations, look at what they've done to the banking sector -- they didn't address the problem, they just added on layers of bureaucracy. That is bad.

    CHRISTIAN DORSEY: This is a pretty one-sided conversation. Let's remember Dodd Frank was the result of a deregulated financial sector which led to the great financial crash. To talk about the cost of regulations without talking about their benefits is a one-sided conversation. And quite frankly, I'm offended that Rick Perry believes the leading issue relating to our sluggish economy is the regulation coming from Washington. The issue is, there's not the demand for the goods and services that businesses produce. If you really want to help businesses, you've got to talk about that.

    TRACY BYRNES: I think that Rick Perry is on to something, in that, we can't plan. We don't know what is coming down the pike. Small businesses in particular get slammed by these regulations. We saw it with Sarbanes Oxley; you know studies have shown that it costs small businesses about $11,000 per person just to follow these regulations. They've had to hire people just to comply with Sarbanes Oxley. This does not promote business! This stalls it, quite frankly. So while Rick Perry, I get what he's saying, six months though, is not enough, I can't plan around six months. You're not going to hire someone when you know in six months the whole world is changing again.

    WAYNE ROGERS: Putting the governor of Texas aside for a moment, and talk generalizations like everybody else does. If you go back, Dodd Frank is 2,200 pages long. There is no conceivable way that anyone can comply. When the Congress of the United States did not read it, does not understand it, and has no idea, and has forfeited our trust in them to the regulators, and that's outrageous! And that's the problem, there's an underlying fundamental thing here, by giving the regulators our vote as opposed to having the legislator be responsible for it.

    CHARGES OF SABOTAGE MOUNTING AGAINST STRIKING UNION WORKERS

    TRACY BYRNES: It is like mafia style push back. The population is at 9.1 percent unemployment and they are out in the streets being selfish. Give me a break. This is a sign of desperation among the unions and they are losing power and broke. They had to flex muscle and it is doing nothing but hurting the overall economy.

    JONATHAN HOENIG: There is a Wikipedia on union violence. I look looked and couldn't find one for capitalist violence. Not surprising. Capitalist compete on value and not enforcement and special privileges. The next step is Europe riots organized by the unions.

    WAYNE ROGERS: No, it has nothing to do with it. Unions have lost influence over the last 30 years. Union membership is down all over the United States. Unions have kept to an old-fashioned way of trying to work out labor disputes as opposed to modernizing themselves. They are losing members because of that. We are going from a manufacturing economy to a service being economy and that's one. Reasons and they are desperate sometimes and this is an example of that desperation.

    CHRISTIAN DORSEY: You haven't mentioned an allegation against Verizon. We have a legal process who sport sorts out who is guilty. But the real issue that Verizon over the last three years outperformed the entire industry and raked in 30 billion in profits, during that time they have not paid a dime in taxes and just gave their CEO a raise.

    JOHN LAYFIELD: It is rough for people to assimilate with this and somehow sympathize with these guys. Same with the NBA lockout and NFL lockout. People don't understand. A lot of people don't have jobs and don't understand why people are walking off good paying jobs. What Wayne and Tracy said about desperation is right. They have gone from 34 percent to seven percent. This is simply a sense of relevancy by the union guys. They don't try to strong arm and make a force against somebody's home which is ridiculous to me. They will lose all relevancy in the market place. Realize it is more efficient not to have a unionized work force.

    HOUSING BAILOUTS TO BLAME FOR PEOPLE CHOOSING TO PAY CREDIT CARDS INSTEAD OF MORTGAGES?

    JONATHAN HOENIG: Government is in the middle of the housing finance, that's why the market is comatose. We built it with Freddie and Fannie and prolonged it with hope and help for homeowners and told the banks to lend but not to lend and government is at the center of this and they bailed out so many individuals prolonging the misguided notion that you have a right to have a home.

    WAYNE ROGERS: No, it is not the government's fault at all. Credit cards have a higher interest rate and a why would I pay off the housing mortgage if I can pay off the credit card.

    TRACY BYRNES : Government changed the way we think. My is not paying the mortgage and foreclosure takes over and you can live in your house and not pay it I have to keep my credit card current so I can take care of my family. No one else is doing it. The government changed the way I think about things.

    CHRISTIAN DORSEY: There are so many fear factors. Also blaming the U.S. government is getting tired. People are in a situation where they are making prudent financial decisions based on circumstances not only here but all over the world and until we come to that reality we'll not solve our problems if we blame government.

    JOHN LAYFIELD: The government has plenty of blame right here. And did I mention all 535 Congress members are on vacation while the world is imploding. If you have the option to pay credit card or mortgage... that is a terrible option to have to have. Most small business consumers understand that banks have a foreclosure clog. Governments are bailing out homeowners and they take the option of paying off the credit card and not the home loan. It is a tough economy out there.

    WHAT DO I NEED TO KNOW?

    JOHN LAYFIELD: Oil drillers like (SDRL) ready to regain momentum

    WAYNE ROGERS: Put money in solid funds & (IWM)

    TRACY BYRNES: Invest in quality companies that pay dividends

    JONATHAN HOENIG: Profit from Russia privatizing its economy with (XRU)