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Bulls & Bears

Should free market keep Iran sanctions in place?

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The Fight May Not Be Over for Those Iranian Sanctions?

Gary B. Smith: Absolutely, Brenda. Because for one reason. I think it's just good business. We're all going to agree, capitalists will go to where the money is unless it's bad business. You know, if you struck a deal with a terrorist or in this case I call him a scorpion, they're always going to revert to what they do best, and that's sting. We saw that in Venezuela, as a matter of fact, when Exxon tried to do business there all for the sake of cash. And what happens was Hugo Chavez nationalized Exxon's assets there. If a private company is smart, they won't deal business with Iran for that reason. You're dealing with the devil. The best way to deal with a devil, not deal with them at all. Cut off their source of funds, which they need the free market for. I think Ted Cruz is right in this case.

Jonas Max Ferris: This has flip-flopped into the Republican -- free-market people are not supposed to before sanctions. Seeing a sovereign country's wealth is not a free-market move. Decreeing what banks cannot, cannot do business there. In a real free market, the government has no say who a bank does business with. That's a free market. Real libertarians like Ron Paul are not for any of this garbage. In fact, democrats have always been behind some of the bigger sanctions that didn't work in the past. Japan before they attacked us because they had no oil. Carter put it on the soviets with the grain embargo. Recently Obama with Syria, how are those sanctions working? That place is a bigger mess than before. They don't work, they ear not a free market. That is why it doesn't work because black markets form and all the stuff you read about in economics classes is what builds when you have this artificial impact on a real free market. Have a free market with Iran. I know we hate them, but we'll actually have a better outcome than sanctions.

Ashley Pratte: Well, look, the problem right now is this Iran deal gives Iran exactly what they want. It gives them more than $100 billion in sanctions and that's going to extremely improve their economy and breathe new life into it. That's exactly what we don't want. It makes it a problem. That's why sanctions were therein the first place, and that's why we need to do it as a check on their power. That is a huge, huge problem when we look at them possibly achieving nuclear status here and that is, again, a huge problem for our national security, a huge economic problem, but with sanctions in place they were crippled. That's the need for sanctions in the first place. If we put them there and keep them there and keep them in check, we can actually have checks on Iran, which is what we need in order to be more secure.

Chuck Rocha: I don't think they should. I think we have one commander in chief. I think there are state legislators trying to pass laws where these banks don't have to do it. They need to read the Constitution. It would be unconstitutional for them not to do this. I think there was a grandparent of people that got together to pass a deal to try to keep Iran from getting a nuclear weapon. It didn't end the way they wanted to but you can't take your football and go home. You have to be a part of the process.

John Layfield: Yes and no. They can to a degree. When CVS decided we don't want to sell cigarettes anymore, that's a private company making a decision. You'll have certain private companies that come along saying we don't want to do business with Iran because it is a bad deal. The Corker agreement is something Ted Cruz talked about, was violated by the president. That's true. It says you have to disclose everything. Two side deals were not disclosed. Even going back to Congress, 60 day, the president will veto that. You still have the same deal. The toothpaste is out of the tube at this point. This is a horrible deal. But to tell companies to do the role of government I think is a gross over step. It if the free market wants to not do business with Iran, that is their business, good business, but should not be decided by government or by anybody else about what free markets should do as far as Iran.

18 Trillion Dollars in Debt. And What Are Lawmakers Fighting Over Now? Raising the Debt Ceiling Yet Again

John Layfield: Absolutely. President Obama in 2006 talked about raising the debt ceiling under president bush said that we have a debt problem and a failure of leadership. And he went on to say that America deserves better. I agree. America deserves better. From 2000 to now spending has gone on unabated. Under president bush it almost doubled. Under president Obama it's almost going to double again. President Obama's budget going forward is $8 trillion increase in the next decade. We're looking at $26 trillion in the next decade. At some point our future is robbed. We need to put something with this like a balanced budget amendment in a reasonable timeframe, say six to ten year, to tie this because that's the only way you can keep these guys from spending money because their only goal is to get re-elected and not help America.

Jonas Max Ferris: And voters like getting stuff. You're certainly not going to get that part of the budget cut before the major election next year. You can't not hit this ceiling. 80 percent of the budget they'll never touch in the best-case scenario of everybody who's Republican in government. It won't happen. They won't get re-elected. It is time, although I will say this is a strong economy with a low unemployment rate, this is when you want to start running a balanced budget. In a recession, you run a deficit. I'm not against that. We should also be cutting this debt ceiling which obviously doesn't work, to john's point, look at what happened to the debt over the last 20 years. It increases the debt because we're borrowing money right now at a higher rate than Germany and Japan partially because we have this infinitesimally small stupid ceiling other countries don't have. Get rid of the ceiling. It will help pay down the debt. Get rid of it and do a little cutting while the economy is strong.

Gary B. Smith: I think we're in big trouble, Brenda. Look, if we don't stop this increasing debt via the debt ceiling, we're going to be worse off than Greece. Here's why. Most people normally look at debt as a percentage of GDP. And not too bad. I think we ranked like 34th or something. We're like 61 percent in that regard. Say, okay, we're okay. But really we pay off our debt through tax revenues. There our debt to tax is now 408 percent. You know where we rank, Brenda? Third. Japan is first; Greece at 475 percent is second. We're 408 percent, Brenda. That should send a warning signal. We have a higher ratio than Portugal, Spain, and some of these other countries in misery. If that doesn't put things into perspective that we need to somehow either through a balanced budget, clamping the debt ceiling, somehow, some way, we're going the wind up like Greece. And I don't think that's a good place to go.

Chuck Rocha: This just in -- people in Washington, D.C., are talking about giving stuff away and giving people money because they can be re-elected. Absolutely. With this particular debt ceiling and this case, this is our own debt we've already incurred. We don't want to default on our loans. I sound like Gary B., but you have to do something to cut between now and then because you can't go back and not pay a bill you've already made.

Ashley Pratte: Look, we need to cut spending. We need to cut the size of the federal government. And we need to shrink government to the point that, you know, they're bare bones, because right now everyone is living off the fat of the government and that's ridiculous. What we need to do is get our fiscal house in order, make cut where is we can, and we have to start paying our debt back. $18 trillion? That's unfathomable to the point that people in my generation don't even understand how much money that is. Why? Because we've grown up with debt and that is a serious, serious problem. The way it has increased and our share of the debt individually, Brenda I think you mentioned it's around 50, I think it's around $58,000 per person, sickening to think about that. That's almost like -- it's way more than a mortgage, but it's at the point where it's almost unfathomable to anyone in my generation who will eventually have to pay off this debt.

Vice President Biden in New York Praising Governor Cuomo for Giving It to Fast Food Workers. Now He's Pushing It for All New York Workers. Others Want It to Go Nationwide

Ashley Pratte: Careful what you wish for because this is going to end up costing a serious amount of jobs. What we have seen in California and Seattle are that businesses are closing their doors, hiring less people because they can't afford to do it, or better yet, let put kiosks in place of people because they don't need health care or mandated sick leave. At point, the fciu and all the unions that are special interests that Cuomo is catering to for a political charade, you realize it's going to end up costing jobs in the long run. New York used to be a place where people would go for opportunity and now they'll see a lot of doors closing for business.

Chuck Rocha: I think it's good for jobs because if you grow up in east Texas like me and you're making there are $12 and you go to $13 and you have $3 more, say you got 50 bucks at the end of the week and you give somebody who needs 50 bucks, 50 bucks. The first thing you'll do is buy a few more cases of beer and a few more what a burgers and that's going to help the people selling beer and what a burgers
Gary B: I guess if you're where chuck is from, you have a one-stop light town and the one employer and all the workers have to work there, it's a fantastic deal. But, you know, as pointed out earlier, we've had 1,100 food jobs lost in Seattle, 2,500 jobs lost in San Francisco. Both cities have raised their minimum wage. Chuck would argue, well, it helps with income inequality. No, it doesn't. San Francisco ranks second in the country in income inequality. Does it help the teenagers of the world? No. Their labor force participation rate is the fifth lowest it's been in the last 70 years. I'm looking for the upside of this. Maybe in chuck's little town there it's great. In every other town it's horrible.

John Layfield: Look, this is all political. Why not tie it to a basket of wages and index it to inflation. But democrats and unions don't want to do that because they want to say $12 or $15 three years they want to go to $20.Republicans don't want to do that because they want to say they're defending the free market. It becomes a political football back and forth. I think you need some type of federal minimum wage to let cities and states dictate what they can do in their own communities.

Jonas Max Ferris: These burger prices, you can't just pay all the workers$15 an hour and sell a burger for $2.99 in every market. Upstate New York is a cheap market. There's definitely going to be unemployment but there will be higher prices. There will be some positives. Some people might do crime or goon food stamps because you can make this an artificially high government to create wage. We'll find out how this plays out.

Predictions

Gary B. Smith: Apple up 30 percent in a year

John Layfield: GOPRO up 30 percent in a year

Jonas Max Ferris: We can get ready by warming it up with a nuclear bomb attack. We'll need the secret division of Boeing to make that craft. Up 20 percent in a year on Boeing.