Even when they say its not, it is always about money. Cheryl the latest reading on u. S. Economic growth coming in better than expected in the second quarter. Seems most americans are just not feeling it. According to new survey from rutgers university, 71 believe the recession exerted permanent drag on the economy. Lets bring in at at that todays panel. Charlie gasparino and damage schaefer from schaefer asset management. Dan, i want to go to you first. The survey shows we feel worse about the economy in 2009 and that is after the recession. I believe this survey more than i believe any government number that comes out. Forget the government number, the economy is sinking. Clear the velocity of money has declined, largest in 50 years. We have countries all over the world with negative cpis, negative growth. Negative sales. Even italys sales came out flat. Bond yields are dropping. How could people feel good about this . Theyre not making money. Cheryl unemployment was lower. Now it was 9 in 2009. Now 6. 2 . We feel worse now . Deflation when it comes to salaries, cheryl, it is not working. We have the dichotomy. The rich keep getting richer and middle class keeps getting poorer and upper middle class disappeared in the 08 h 09 crisis. Every everyone got to buy their housing or their own home whether at the could afford it. Now the new gig is private equity follows money. Cheryl charlie . I dont buy this survey. I dont like the timing of it and heres why. In 2009, you didnt feel bad because you didnt get lay off just yet. The layoffs were coming in 2009 and 2010. I think in 2010 unemployment might have peaked around 10 even though the recession was technically over. We were still, we had positive gdp. So, you know, some of this is psychological. In 2009 when you still had a job, you felt better than you do now. Cheryl you thought it was going to get better and it didnt. It did get better. Cheryl wages are stagnant. It did get better, but not better enough. Maybe youre on your second job with a lower paying job but the bottom line is this cheryl if you ion have a job. Charlie, i want to bring this other story because this youve been talking about all morning and covering. We have the big hat attack hitting big banks on wall street. Fbi is investigating reports that several u. S. Firms were victims of a big cyberattack. One was jpmorgan, charlie. What do we know right now. Theyre still not really confirming, are they, that this actually happened . Theyre confirming it happened. Jpmorgan is confirming it. This happens, almost, attempts, from what i understand, attempts occur every day. Now the question is when did they get through and how did they get through . We were reporting exclusive on fox Business Bank of america in 2011 was the victim of a cyberattack, from what i understand a fairly serious one. I cant tell you what damage it caused. We dont know. We do know there was cyberattack on bank of america that was significant. They believed at the time, people at bank of america, Senior Management believe it was russian moblinked. We asked bank of america for comment on it this, which they gave as you very bizarre comment. Just now we got it from one of their spokesman, they quote, not comfortable discussing what happened in 2011 of the not comfortable. Cheryl that doesnt make anybody as consumer with jpmorgan very comfortable. The macro problem as shareholder of any of these large banks or employee of these large banks well all pay the price because i talked to a Jpmorgan ChaseCustomer Service banker, said 50 of his day is fighting fraud issues. He is not out there being productive and helping customers. The cost of having these fraud departments cheryl theyre not giving you, not doing enough. You cant, if you cant protect my checking my savings, what kind of faith, not that we have a lot of faith in wall street anymore as it is but now we cant trust the bank . And they cant. Every time the Cyber Attacks keep getting worse. I will tell you this, this is why consumers out there should be alarmed by this and really alarmed. It is not that they are, that these cyberattackers are much more sophisticated enough. Is just the banks have some hours in a day. A ceo told me recently, that he and his board, in terms of management and management spend about 80 to 90 of their day dealing with regulatory stuff like doddfrank and volcker rule and how to comply with this rule and that ruleof they just dont have time to do a lot of different things. Does that mean Jpmorgan Jpmorgan is computer programmer, on part of cybersecurity . No. When youre management, top Level Management up there dealing with all this other stuff, maybe theyre letting this stuff fall through the cracks. Cheryl government has to know what they were doing. I want to say, actually this kind of ties to the cyberattack story, this is coming out of russia. We think Russian Hackers coming in against the banks. Ukraines president , this is what started alarm, accusing them invading the country on eastern side. These are satellite images of nato, show build up of troops inside of ukraine. This is last couple month. 2000 troops fighting now. All according to u. S. Officials. Markets go up and up and record after record. Yet you have russia invading ukraine. Markets are on their own path. You have to separate what the market is doing with the global activity because the market is ignoring it because of other forces. Cheryl should they be . Should they ignore it . Years ago in the 70s, 80s, late 90s, the markets were shaken by this now they dont seem to care about it because market is in bull mode. Making money hand over fist and theyre buying the dip, buy the dip. The. Has to do with oil and situation is, and this is the good news. We are more independent with our oil production. So that is what the market is telling us, that cheryl civilization and russia, middle east. Im going to quote somebody, who i called a gd idiot on this show. We should give putin a second chance. Should really believe him, at his word. Because he is such a trustworthy guy. There is no truer, no truer statement than me calling the guy who said that an idiot. And i will say this the markets are somewhat reactive to this. One thing about our economy, were in a Global Economy. We are powerless almost to stop this guy right now. It does hurt the markets. Cheryl our credibility is shot in the world. It is. Perfect timing to go in now when the Global Economy is weak and he knows it. Countries dont have money to come in there and go after him and prevent this that is the history. Should give him benefit of the doubt . I give him second chance. Give him benefit of the doubt. I wish that guy was here right now. Cheryl he is on the show next week. Completely change gears, talk about consumer and economy. Both of the stocks are ahead. Earnings reports, did not look good. Hillary, youre take shaking your head. Do you have teenagers by the way. Fouryearold and eightyearold. Cheryl what are kids buying because theyre not going to abercrombie and guess. Abercrombie and guess, the economy is becoming ecommerce economy. Places like sioux lilly and service at abercrombie is such a turnoff for parents. Between the two, abercrombie, internationally globally has a brand with credibility and can be rebuilt. Guess is a different story. The mall culture is over. It is done. Cheryl i was shopping at guess when i was teenager. What does that say about how bad guess is doing . For full disclosure i dont own these stocks but do you shop there . No. I walk by these are fad companies, youre absolutely right. 10, 20 years ago, these were hottest things and now there are some options they have gone to the wayside. A natural progression. Cheryl called amazon. To the other money team, you have to see this picture. Floyd meriweather rubbing elbows with none other than than Warren Buffett. Have you seen the picture . Tmz, the boxing champ put this on instagram, the oracle of omaha one of my billionaire buddies. Nice. This is interesting dream team we have going on here. I love floyd mayweather, he a great fighter and boxer and Warren Buffett is a great investor. Would i say this, this is one of those things that takes people reality of Warren Buffetts hypocrisy this week. Warren buffett rails about tax fairness. This is important story. He is used as a prop for president obama in terms of telling we all need to pay taxes not just really rich, Everybody Needs to pay higher taxes. Does one of the tax scheme deals, inversions finance it to make a lot of money. It is all about the money. Think about it, but media allows him to get away with it. Where are the reporters . People would care but they dont care, he is this oracle. You dont care . I think people care . I think people care. I think reporters dont care because these he sings their tune. Cheryl think enough about the fact we have to get commercials on the air. Then we have to take a break. Big money fueling conflict in the middle east. Isis already enemy number one but the selffinancing terrorist organization is actually building up the power and revenue more importantly to become an even bigger threat than we thought. Samsung trying out questionable new Technology Fashion but might want to stick to smartphones. More money coming up. She inspires you. No question about that. But your erectile dysfunction that could be a question of blood flow. Cialis tadalafil for daily use helps you be Ready Anytime the moments right. You can be more confident in your ability to be ready. 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Cheryl want to give you breaking news, a new york City Hospital confirming to fox that comedienne joan rivers is being treated at her facility. No details on the current condition. Earlier reports indicated the 81yearold queen of red carpet was rushed to hospital after stopping breathing during throat surgery. If we get more updates well bring to you. Cheryl apple sending out criptic invite to the september 9th event and theyre planningning to use it o promote the iphone 6 and iwatch and but theyre getting, steve wozniak. I think wearables are wiped up in bluetooth headsets, fun to wear but and show off for a day. We have jared levy and hillary camer is back with me. Rob, i thought analysts community was excited about Wearable Technology so what is wozniaks point here . His point this is a hard sell. This is wearable device. Watches are in decline in fiscal year. Smart watches dont sell as well except exercise accessories. That is very small market compared to what apple sells into. I think he is concerned it will be difficult and steve jobs isnt there to open up the category. That last part i think is legitimate concern. Cheryl what do you mean steve jobs is not there to open up the category . Didnt he want an iwatch . So that,. Steve jobs took a phone that wasnt selling well. The form factor of the iphone wasnt selling well anywhere. He got us to see it differently. Tablets were not selling well any place. He got us to see that differently and broke open the category. Nobody else has done that successfully in the last decade. Steve is concerned that they have got the skills to make it happen. Cheryl do you agree with wozniak or is he wrong here . His point he is perfectionist like steve jobs. Dont forget the guys were in business together. Think about this, a wearable has to be something that feels natural. It cant be like accessory dangling like you have little antennas all over the place. It has feel natural and incorporated into normal wear. While a watch does that watches still arent really cool. The battery life is questionable still moving parts are not effective. I think that is the key. Cheryl samsung is launching a new watch next week. This is the wrist phone. That is what theyre calling it. This is getting upstaged a bizarre device, headphones that turn into statement necklace. Go to the issue of samsung or apple who will make Wearable Technology. It has to be attractive and fashionable, correct . That is the big problem. How do you match up and marry sexy design with technology . You get tom ford. Very hard to do. How, how does the Technology Work . This case the necklace and ear phones that ring. Whether it be a watch, it is also about how can you actually see the screen . In many ways Steve Wozniaks point is the screen and he talks about the screen. Also the bluetooth extension of a computer, but there is something to be said for that. At what point do we just stop seeingecause it gets too small . I have guests come on and show me watches, it is great for scanning pictures, emails, facebook, whatever youre doing. I can see where it would have a big draw, rob, to a consumer who is tired of holding up a separate device. Youre wearing the same thing that youre holding in your hand that. Seems to me kind of a winwin. Once again, depends how it is executed. You have to see it as something different. Not a watch with a bunch of gadgets on it. It has to be compelling and adds to your life. Done right i think you come up with something really great. The problem we dont have a lot of companies in this market that can break a segment open like steve jobs did at apple. Samsung certainly cant. They keep throwing stuff at the market that is mostly crap. When they do something that is kind of cool. Cheryl im sorry, droid is crap. Geared circle which is cool, well, they do some cool stuff but, they cant really get the magic around it. Cheryl go ahead. Google glass is the answer. You know, we just said it. And vision, right. If you wear something and give something and give a voice command, google glass is natural progression. I dont think well be Walking Around with smartphones. They will be in your purse or home. Connect via wifi or bluetooth. That is my call. Cheryl everything will be implanted into your brains at some point. That is the next phase. We dont have anymore devices. I want to show you all this Everybody Knows im a cat person. I pretty much admitted this. This cat has got my tongue. Hello kittys create are dropped a bomb shell. Get this, the character is not hillary the cat. Im kind of bummed out. The cat is not a cat. Her point being, that, you can decide that hello kitty is whatever you think that she is and that is why she is so universal for 40 years. Kids love it. Innocent enough. She doesnt make the kids anorexic. It sells. It works. Cheryl rob, jared, youre off the hook. I will not ask you a about a cat. Unless you have something to say. Teddy bear. Years ago i had a talk with my friend. Said the same thing actually. Believe it or not there is fortune cat. Might see them, like that little pauline cat. There has been this overlap between the two. I knew, eight years ago that hello kitty wasnt a cat. Cheryl should have told the rest of us. I should have been more vocal. Cheryl thanks for sharing, jared. Thank you very much. Coming up, things are actually heating up. An iceland i can super volcano could be one step closer to erupting. Well update you on the story. Football fans are boared to cheers. But steams are taking action. Yes, i meant to say that way. We have information on nfls upcoming pyramid scheme. Do you ever have too much money . My mother made the best toffee in the world. Its delicious. So now weve turned her toffee into a business. My goal was to take an idea and make it happen. Im janet long and i formed my Toffee Company through legalzoom. I never really thought i would make money doing what i love. We created legalzoom to help people start their business and launch their dreams. Go to legalzoom. Com today and make your business dream a reality. At legalzoom. Com we put the law on your side. Cheryl new concerns over iceland humongous volcano. Weve been hearing for weeks about a possible eruption due to increase in seismic activity in the area. The earthquakes intensified with some measuring magnitude five. Also worried are the sinkholes and cauldrons of melted water covering thick ice covering the surface. Some take that as indication lava is pouring out. No one is certain next what happens with the volcano. Global airlines have been told to stay, very, very vigilant. Turning to the markets now, Dollar General giving us evidence of the struggling state of the American Consumer in the latest earnings results. Lets grow to lauren zimmmerman on floor of new york stock exchange. Lauren. Cheryl, the consumer is struggling even at the dollar store. So what Dollar General is doing trying to boost their core items, items that actually sell at a dollar. They sell many items above a dollar. They want to appeal to the low income and struggling consumer. Is it working . A little bit. The stocks up today. Look the latest earnings report, not so great. Their samestore sales came in weakerthanexpected and their margins fell. Of course their margins are falling because when you sell food, it is just a lower margin item. Family dollar for instance, Dollar General, still pursuing this company. Dollar general, family dollar, rather, started to sell beer and wine in some of its stores to up the ticket price. Of course that will cost them in the end because like i said, beer, wine, all that, lower margin items, cheryl. Cheryl do you want to spend a dollar on beer and wine . I thought about that. Me and liz here think we would drink dollar wine. Cheryl you are brave. Thank you, lauren. Whether it is on wall street or main street here is who it making and actually l