For help. Mostly from the u. S. Theyre asking us for help to try and stop the latest flareup of this violence. Cities in the northern part of iraq have been completely overtaken by the Islamic State in iraq and syria or isis for short. This is al qaeda in iraq under a new name, they are incredibly strong from what were hearing on the ground. The white house seems to be formulating a response, president obama said he wont rule anything out, but were told, boots on the ground, off the table for right now. And this deteriorating situation sending shockwaves through the market. Oil prices hitting a nine month high, stocks plunging on heavy volume. We lost 109 points on the dow. Lets bring in the experts in all of this. Jesse, we said 1. 7 trillion dollars on this war, and were about to lose, jesse, iraq . Absolutely. This is a war supported overwhelmingly by congress at the time. People have to understand, not only did we lose 1. 7 trillion dollars. Were looking at close to 3500 dead men and women in the military. In fallujah we had troops killed. Theyre taking over that city. Were looking at another 460 billion dollars that were spending to those disabled from the war that will rise to 6 trillion dollars over the next 10, 20 years. This is huge. This is a huge loss for us to be sitting back watching this happen, while oil prices skyrocket. Could we dig our Foreign Policy shovel any deeper . Were in a hole now, deep hole. Cheryl phil flynn, shes talking about the recent veterans, we have to support them and the effect on the consumer, phil. Oil, more than a 2 jump in that contract. This is right as were moving, into the summer driving season, phil. Did they miss the mark on this . Seems like you all got caught by surprise today. By the way, iraq is in trouble. Iang lot of people were trying to ignore it. Ongoing violence in iraq and, of course, this administration is basically told us, dont worry about it, we have the terrorists on the run. Little did we know they are on the run take over cities in iraq, and i think at the end of the day, when it came to oil. Weve had a risk premium, it has been stubborn and bullet up not only because of iraq but ukraine and russia and we have blown the top off it right now. This is a very serious situation. When you look at iraq right now, youre right in the heart of this, and while the u. S. Sits back and does nothing, weve got countries like turkey and iran that are going to get involved with this. This is a failure of policy, its very dangerous for the global economy, and as you know, when we see the price of oil get up towards 110 and 120 a barrel, you know, these economies are on the globe are pot going to handle that. Cheryl here we for a u. S. Economy, fragile is a nice word im using right now, and now the american consumer, not only do you have the bitterness what the country has been through since this war started, but now hit with a president who is already saying no boots on the ground, and the iraqis are desperate to get obama onto the table on this. And he doesnt seem to be cooperating. The key point with respect to the economy is if we have oil prices at 100 to 120 a barrel, for the consumer, that is the equivalent of 4 and 4. 50 a gallon gasoline. Thats like a big tax increase on the american consumer. Weve already got a fragile economy, the Consumer Spending came out before these hostilities erupted and they werent very good. Economists are saying second half of the year, we get back the 34 growth tab. This disrupts things in a major way. Cheryl you are tracking the moods of nations veterans but the moods of americans are saying wait a minute, we have high unemployment. Veterans have higher unemployment. A lot of them are coming back with ptsd, disabled, cant find jobs, then this. What does this do to the president s legacy . Yes, the veterans Unemployment Rate is over 9 . Va scandals, everything going down the drain. And meanwhile could have prevented this. We didnt have to prove out of iraq so excitedly when we didnt leave a stabile country. This is like vietnam all over again. Why are we doing this . We have the problems in the ukraine dealing with oil also. Our Foreign Policy is a failure. A complete failure, we could have resolved this and did not. And veterans are in disgust. Cheryl phil, going back to the oil market and the effect in the global economy, were not talking about a small amount of oil coming out of iraq. This is the fifth largest reserves in the world. 3. 3 Million Barrels a day. It is, 3. 3 to 3. 5 per day. On top of that its a highquality oil. Its not easy to replace. Its not like saudi arabia can ramp up production and the problems are solved. It goes beyond just that barrel of oil today. We were expected the market was expecting to get 4 or 5 Million Barrels out of iraq over the next couple years. Thats not going to happen. And this not only disrupts actual production. It puts an Insurance Premium on any barrel of oil coming out of the middle east because when youve got terrorists in control of the oil fields, in control of the refineries, you know, just moving oil becomes a very dangerous business, if youre going to ensure an oil tanker, moving across the middle east with the type of instability we have. Youre going to want a lot of money. One point to make about this, cheryl, isnt it interesting this happens about ten days after the new crazy new carbon emission standards which make it harder for us to develop our own oil and gas resources. People are scratching their heads saying wait a minute, were not building pipelines. Keystone, thank you, steve, i wanted to bring up keystone. Whole infrastructure of pipelines in this country. They dont exist, it makes us more susceptible, as phil said, to the disruptions happening for 30 years in the middle east. Hes exactly right. There is the risk premium. I think its 10, 20 a barrel, that could go up if we see this kind of situation continue. Absolutely, if you look at supply in the u. S. And compare to what it should be, it should be 20 lower, but never going to happen in this type of a situation. Cheryl you know, jesse, talking about the keystone issue, again, jobs for veterans could be keystone. Why is this president not jumping on this now . We were supposed to be off of foreign oil in the 70s. That was the reason the department of energy was created. And here we are. Still dependent upon foreign oil and we have 3500 dead military men and women in iraq and 350,000 wounded or injured. What are we doing . Cheryl well, thats the question for tonight i think and for all of our viewers at home. I have to say, steve, i have to wonder, the president the timing of all of this for him. This looks like he made a huge mistake and withdrew too early. Were out of there, the war is over, everything is fine. Its not fine to repeat that lesson. Why has the middle east been so important for the last 30 years . Lets face it, energy. We have the capacity within five or six years in this country to be oil and gas independent, the north american continent. This president has done Everything Possible whether its new epa regulations, oil drilling to prevent that from happening. Cheryl and throw regulation on top of regulation on companies so they cant keep jobs in this country. Jesse . Foreign policy is nonexistent, veterans and active military are lost in the guidance, everything we do is in vain. Cheryl thank you so much for helping me dissect this issue. This is a big story, were going to stay on it definitely tonight. Thank you very much. Thank you for inviting me. Cheryl its your turn at home. I hope youve been listening. Are you fired up about the unrest in iraq or any other topic. Facebook or tweet ya gerri will fbn. Also coming up, there are big changes for facebook i want to tell but tonight. The social media giant said to make money off your profile. Has privacy gone the way of the dodo bird . Think about it. Coming up. Hi, are we still on for tomorrow . Tomorrow. Quick look at the weather. Nice day, beautiful tomorrow. Tomorrow is full of promise. We can come back tomorrrow. And we promise to keep it that way. Driven to preserve the environment, csx moves a ton of freight nearly 450 miles on one gallon of fuel. What a day. Cant wait til tomorrow. Cheryl big changes are coming to facebook, the social media giant giving you control over the ads you see. Theres a catch. Sending advertisers more of your personal data. Should facebook get a thumbsup or thumbsdown from consumers. Lets ask frankie from the napoleon media group. Up or down . I say up. They have over 1. 2 billion dollars. Cheryl you like the idea facebook is doing this. I like it. They got to make money somehow. Cheryl what about my privacy . What if i want to have some privacy . Theyre monitoring everything on profiles to sell ads to advertiser, right . Doesnt that creep out a few people in america, i dont know. Definitely creeps you out. They lay it out for you when you agree to join facebook or any social media site in general. We say yes but no one has read it. Cheryl theyre look at my profile. Theyre looking at my friends, what i read, stories i post. Right, and trying to figure out how to target what do you like best . Cheryl shopping. Throwing it out there. So theyre in cahoots with the marketers and trying to narrow down what you like. Cheryl at the same time, they can resell this, right . If theyre going to mind the data and give to advertisers, whats to stop the advertisers from reselling and reselling to where frankie or cheryls information is everywhere and sold multiple times. At some point doesnt it become an intrusion, maybe i said yes to facebook but i didnt say yes to nike monitoring me . Facebook is trying to be as responsible as possible. I know it creeps people out. Its clearly stated what theyre getting into. Its a lot of conspiracy talk but theyre clear what they are trying to do. Cheryl they put out statement and said you want this, we k. This more targeted ads. I didnt ask you for that, but okay. Lines of code on your computer, theyre putting lines of code on the computer to monitor this, right . Yes. Cheryl thats not an intrusion. It freaks people out. But theres a way you got to track people and you know facebook is trying to make money, their business, were on fox business, it is what it is. Cheryl youre a marketing guy, totally get it. Do you worry there is going to be a time the users of facebook say enough is enough. I need to get off of facebook or find another site maybe snapchat. Snapchat had problems with user breach. Twitter is starting to do, it instagram is starting to run ads, they all do it. If theres a new social network, sooner or later theyre going to get millions and billions of followers and not making money off it. Cheryl the other use for facebook, obviously their International Headquarters are in ireland, makes lots of sense, but how is that going to affect the rest of the world . Is the rest of the world going to go along with this . Or because theyre based in ireland, its not a problem. I think sooner or later people will go along with it. Cheryl all right, frankie, itsing about to be interesting to see how facebook handles all. This nothing is free on the internet. Nothing is freeway. Cheryl and consumer groups have said nothing about this as well . Yeah, look, everyone is trying to make money. Thats what it is at the end of the day. Cheryl you are the ultimate sales guy. Thank you, franky. We want to know what all of you think at home. Heres our question tonight, have consumers given up any notion of privacy . Im going to share the results at the end of tonights show for all of you. Now to another headline affecting all of you. Amazon announcing its adding music to the mix. We have the latest on what amazon is doing, big changes. Amazon is rolling out prime music, a million songs included in membership, 99 bucks a year, if you dont have it, sign up for it. Its ad free and its only about a million songs, so we can actually show you some of the people missing from that list of musicians, kanye is not on it, taylor swift is not on it. Jon bon jovi is missing, lots of people arent on it. It pales in comparison to spotify library, they are in negotiations with universal music. But amazon entering competitive space. You can look her at edison research, pandora leads, spotify, iheart radio and google play, round out the top five. Investors, cheryl, very unimpressed with prime music today. The stock was down almost 3 at closing bell. Cheryl you have to wonder if they are late to the game. That is the question. That is the question. Space is evolving, there are up and comers, itunes radio taking into the top five and doing well because they have a solid base of customers. This really is all about jeff bezoss grand master plan. He rolled out payments, local marketplaces, now music. Were expecting next week the big new amazon phone which would tie it up. Cheryl hes creating the walled garden, have you heard that expression . Yes. Cheryl once youre in the walled garden, you never leave. You are not supposed to leave. Hopefully the customers know there are a lot of options. Cheryl thank you so much. Coming up later in the show, the latest crowd funding craze, investing in real estate. But is the payoff worth it . You see him on the screen, a critically ill casey kasem, famous radio legend. He is in the middle of a legal battle over his estate. Hes still alive by the way as of tonight. Estate planning is not for the rich and famous, what you can learn whats happening to him. Coming up. Well show you how can you do that. Were moving our company to new york state. The numbers are impressive. Over 400,000 new priva sector jobs. Making new york state number two in the nation in new private sector job creation. With 10 Regional Development strategies to fit your business needs. And now its even better because theyve introduced startup new york. With the state creating dozens of taxfree zones where businesses pay no taxes for ten years. Become the next business to discover the new new york. [ male announcer ] see if your business qualifies. [ girl ] my dad, he makes underwater fans that are powered by the moon. He can print amazing things, right from his computer. 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Cheryl a severely ill casey kasem is in the middle of a legal battle over his care. The radio and tv icon has been suffering from a form of dementia and now his daughter has been given ultimate control over his medical care against the wishes of caseys wife. But this family feud couldnt have been avoided, and joining me now is annmargaret caroza. Thank you for being here. Thank you for having me. Cheryl i think why the nation is captivated by it. He wrote i have parkinsons and said i dont want to be kept alive artificially. His wife figured out how to change that. How often does that happen . We should all have a Health Care Proxy advanced planning directive. The problem here is he purportedly had two health care proxies, one executed in 2007, and then his wife is producing a document supposedly executed in 2011. So when we have two documents, its landing in court. Cheryl i dont know if you remember james brown, the godfather of soul, same thing happen with his estate. He wanted half of the money to go to underprivileged children, the other half to grandkids for education and his wife and kids fought it, and they won. Thats what i cant believe is that the Court Systems are allowing this to happen like with casey kasem . Whenever you have a second marriage situation, which is prevalent in the United States, you need to take special actions to ensure that the new spouse is not doing battle with the Adult Children because it happens all the time. Cheryl is that prevalent in this age of, what, half of marriages end in divorce and all these blended families . Half of first marriages end in divorce. More than half of second marriages that end in divorce. So with a second marriage situation, thats going to end whether its at death or divorce, and we need to get the Estate Planning straight to ensure that your wishes are carried out. Cheryl lets talk about what people can do, give us ideas what people can do, especially those in these blended families which so many families are in. You have a stepparent and children from the first marriage. Health care proxy, naming someone to make medical decisions in the event im not able to make my own, and a living will, where i specifically set forth my health care preferences, and we also want to have a financial durable power of attorney for someone to execute financial transactions. Cheryl then when you say, theres a living will but you need somebody specifically in charge, power of attorney over health care decisions. You absolutely do. Cheryl okay. Not every state honors the living will. So your spokesperson is the Health Care Proxy, you can go onto your state department of health website, download the Health Care Proxy form. You dont need a lawyer for that, and the living will, your specifics, that you give to your Health Care Proxy agent, so theyll hopefully carry out your wishes. Cheryl and also weve seen, i guess its because of the web, you have the prevalence of online kits, online wills, online proxy, youre saying no. Its like do it yourself electrical wiring. Its very, very dangerous. The single most common online document is a trust. But how do you know which one to get . A Revocable Trust . Sounds great but everything is subject to estate taxes. A purely irRevocable Trust