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.
OPEC COMFORTABLE WITH PRICES AS HOLIDAY DRIVERS GET SLAMMED
Charlie Gasparino: The argument is even if we start drilling, it's not going to have an immediate impact on prices. However, the price of oil is set on the futures' market. They look at what the future will be. So the price of oil will go down and if you talk to any futures trader, they will tell you that.
Adam Lashinsky: Even when our gas was at $4 in the United States, our gas is cheap compared to the rest of the world. The Europeans pay far more for their gas than we do because we subsidize our gasoline. The other thing is, we are drilling for oil in the United States. We are drilling for natural gas in the United States, quite aggressively.
Matt McCall: OPEC is fine with this because they're making a lot of money. The higher the oil prices we have, the more money they make. If you are a supplier of oil you want the prices to be high. You want demand to be up. The United States has to take a step back and realize that we're importing about 65 percent of the oil that we use. Back in 1970, that number was 20 percent. We continue to import more oil because we're using more. Instead of looking at what is in our country - we could be drilling for natural gas; we could be drilling for oil-there are so many opportunities and resources here that we're not taking advantage of. Looking forward, over the next 10 years we are expected to spend $10 trillion on importing oil. If that money was spent exploring here, imagine the millions of jobs that we could create here in the United States.
Kristin Bentz: The United States doesn't put any pressure on OPEC. We just sit here and take it. We should really use natural gas as a viable alternative.
CALLS GROWING TO LET AMERICANS OWN THEIR SOCIAL SECURITY FUNDS
Charles Payne: Want to make sure you have more money when you retire? Don't look to Washington. Look to Chile. That's right. GOP president candidate, Newt Gingrich saying America should do what Chile is doing. It allows workers to opt out of the government run program and opt into a private account. Now Matt, look at the facts. Chilean's get nearly 10 percent annual return versus one to two percent for Americans. Pretty clear that their program is working a heck of a lot better than ours.
Matt McCall: It's true, it does seem like its working and what I really like about this is your contributions are based on your pull...the amount of money you can pull out or based on the contributions you're putting in there. So, it still runs kind of like Social Security, but now once that money goes in there suddenly government is deciding how we're going to invest your money you work for, you now can decide which investment fund which investments advisor you want to choose to invest your money. So now you obviously have this interest in your future, your retirement which I think kind of has a snowball effect on when you feel about government overall.
Charlie Gasparino: You know, ah, I'm going to be out of character here. Knowing just how much people lost in the market, various market crashes that I've covered over the last twenty years, um I don't think most people are financially sophisticated enough to handle their own retirement money.
Adam Lashinsky: Okay, so I completely agree with you, but that's besides the point here. If we want Social Security then we need to give people Social Security. If you want to get rid of it that's fine with me and encourage people to put their money, to invest their money on their own. But we've decided we want Social Security...if you go with Newt's plan Charles they're going to put their money with those same exact money funds or mutual fund managers. Same exact people.
Kristin Bentz: Absolutely and I think that this plan is brilliant because it takes back a bit of the power for America. I mean, we need to be responsible and I think if everyone...anytime the government is in the money management business I think it's a bad idea. I think that people need to take their power back and be responsible for their own finances.
NEW PUSH FOR COLLEGES TO DROP MAJORS THAT DON'T PRODUCE JOBS
Charlie Gasparino: This is the most un-American idea I've ever heard in my entire life. It's actually disgusting. They're putting a gun to your head and saying ‘study math.' Is that what you want? The government of China is doing something that every American should think is the most disgusting thing on the planet.
Adam Lashinsky: This could not be more un-American. This is what the Chinese communist government does. This is the government telling people what to do. The serendipity of having poets go out into the world in the United States is what makes this country great. We don't tell people what they can study.
Matt McCall: Let's use some common sense. Let's educate the kids before they get to college so they'll realize where the jobs are.
Kristin Bentz: I think this is a brilliant idea, especially here in the United States. If we can actually reeducate our workforce everybody wins. I think it's a win-win.
THANKSGIVING STOCK WINNERS
Adam Lashinsky: Hewlett-Packard (HPQ)
Matt McCall: Core Laboratories (CLB)
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