Feds. Still want to stand in line, your odds 1 in 175 million. The president or should we say campaigner in chief, hell be on the road and the union campaigns, and the message no entitlement reform in any fiscal cliff deal. And more, ollie north on record gun sales, mike reagan on california and isaacs on Warren Buffett. Here we go. Varney company is about to begin. Looking for a better place to put your cash . Heres one you may not he thght of fidelity. Now you dont have to go a bank get the things you want from a bank, like nofee atms all over the world. Free checkwriting and mobile deposits. Now depositing a check is easy as taking a picture. Free online bill payments. A highly acclaimed credit card with 2 cash back into your fidelity account. Open a fidelity Cash Management account day and discover another reason wednesday, november 28th a bombshell report from forbes this morning, 11 states are in a death spiral. Dont buy a house and dont invest in their municipal bonds. California, new york, illinois, of course theyre on the list and smaller states like mississippi and new mexico also on that death spiral list. And the problem with the states accord to go william baldwin, he wrote the story, more takers than makers and all have more people depending on the government than working in the private sector and like california, for instance, huge public work force, it spends on work for illegal aliens and illinois reportedly facing 233 billion dollars worth of pension obligations for state workers and more takers, baldwin says these states will raise taxes, they will increase the cost of doing business and they will drive people in businesses away and they are in his words, in a death spiral. Hes a democratic i should say theyre dramatic words showing some of the popular states in our country and the next headline, the campaigner in chief and a shift in focus on the fiscal cliff. And president obama meets with ceos from goldman sachs, yahoo pfizer, california among others and the white house today. And some of the same executives will also meet with house republicans, and then the president goes Campaign Style on the road and thats on friday, and selling his tax the rich and dont cut entitlements plans to the public when he makes a stop in montgomery county, pennsylvania. Hes going to visit a toy manufacturing plant there. And now, there has been a shift in focus towards entilements and spending cuts and away from taxes and no movement in harry reids association, he says that democrats have cut enough. Well, remember weve already done more than a billion dollars worth of cuts, weve already done that. So we need credit for that and those negotiations that take place, and however, here is a cave caveat, senator dick durbin is taking a hard line approach. Quote, we cant be so naive to believe that just taxing the rich will solve our problems and put everything on the table, repeat. Everything on the table. And thats the left of center dick durbin. Yesterday, t was taxes, today, theres entitlements, tte impasse continues as we countdown to that deadline. Next case, china, clearly the number one worlds polluter and criticizes us for not doing enough about Climate Change, a Global Carbon tax could be coming, are we going to have to pay . Well talk to a leading environmentalist after the break and of course, we will have the opening belfour you next. Bell for you next. All right, just a few seconds away from the opening bell. The futures suggest were going be to be down nearly 40 points. Of we have this fiscal cliff and its a deadline, the tax increases and more huge spending cuts it seems like the two sides are on impasse it looks likes its shifted to entitlement reform or cuts and no serious movements in the negotiations and check the big board, the opening trenddis down and were looking for a 40 point loss when things get moving. Ive always said that Green Mountain coffee, a great day traders stock, huge volume in the past, and even more so today, after the Company Raised its forecast of how much money its going to make in the future. Look at that, nicole, was that 20 . Oh, my goodness, what a day for Green MountainCoffee Roasters and come out with numbers that beat on the top and bottom line, an outlook beyond the analyst expectations and their keurig and single kcups of coffee are doing so well and you and i know a the lot of folks have been shorting the stock, but i just look back to 2003, and their performance, its up every single year, with the exception of 2008 where he lost 5 . Stuart amazing. And thats great. If you could say i have a stock since 2003 and stellar years, its pretty great. Stuart sure beats microsoft, doesnt it . All right. Lets do a comp chart in the next hit. Stuart no, no, lets not. Thanks a lot. Look at the dow fast because the futures pointed in the right direction, down 45 points now after a minute and a halfs worth of business and the only trend is down. I have some alarming numbers to report on student loans, the total amount of student debt is now, listen to this, 956 billion dollars and that, by the way, is a 42 billion dollar indies in just the last months. And here is the telling number. Student loan delinquencies, hit a new high. 11 of borrowers, at least 90 days past due and more in the next hour, big deal. General motors, theyre going to unveil their new all electric mini car coming out today at the l. A. Auto show and its called the chevy spark, they will be sold in select cities this summer and the cost is around 25,000, but thats if you factor in after you factor in 7,500 worth of federal tax credits. Remember, gm did not do really well at all with the chevy volt and thats the hybrid price much higher and unveiling the spark at california where they are required, all automakers are required to sell at the least some all electric cars. Look at gm stock, no impact on that, below 25 now, youve got to hit 53 a share before our taxpayers get money back from the bailout. And United Nations climate conference, the u. S. Is told its not doing enough to stop temperatures from chiming. China and india, and other major polluters want us to pay more. Were calling this a global money grab. They want us, they want more money from us. And here with the nrdc action fund. Why are we the targets of why are we the villains here . Well, stuart, i think that were looking out for american interests here and this Climate Change is a threat to americans and we see that threat across the summer. The worst drought that i know. Ive got the talking points, but this is the United Nations, this is the United Nations china is saying, you americans, youre the villains here and india saying the same thing. And chinas the Worlds Largest polluter. Why are we the villains here . Why is it the United Nations is the vehicle to screw money out of us . Well, i think that we need to take a global approach. Its a global problem and you make a good point. China is part of the problem, and india, japan, europe were all part of the problem and take a global approach. Stuart they want money for us. They want us to pay more, and they want our money. And wait a second, do you think that president obama should go along with this, if the u. N. Comes up with some type of Global Carbon tax, call it what you might, tax or free or higher dues for the u. N. Theyre going to want our money, would you go along with that . Weve never gone with that in the past and the president was elect today stand up for the United States, thats what this is, a problem for our country and for our and do you believe that president obama, if this tax comes down the pipe from the United Nations, he will say were not paying . Get off our backs . Theres been no talk about it. Its hard to imagine. Theres no precedent for it and its rank speculation, i cant see it happen. Thats not what were talking about. Would he defend our interest by saying we will not sign on to a u. N. Carbon tax, did he do that . I think hell defend our interest by saying its time we good up for a grave and gathering threat. Stuart the question is simple, bob. Im not trying it elude your question. Stuart youre not directly answering the question. If the United Nations comes up with some form of carbon tax Climate Change, call it a tax, call it a fee. And the u. N. Diverted towards Climate Change movement, if they come up with that kind of demand for our money, do you think that president obama will say, youre not getting it, get lost . I think he would, stuart, and the its a sovereignty issue, always been that way. Precisely, but when we get to sovereignty, lets not remember the raging storms at that ravaged our cities from new york to new orleans this year and were paying a heavy price for it. Stuart if the United Nations comes up with a tax and pay it, do you think the United Nations has the answer for Climate Change . The United Nations has been working on this issue for a long time. They made a contribution globally, but here in the United States were getting answers from the National Economy of society and nasa, the guys who put the man on the moon, thats where were getting our information and where were getting our policy guidance and the solutions to move forward. Lets discuss it, the United States, if we have a carbon tax in the United States of some sort, we tax emissions so we have fewer emissions and you think that makes a really, rail big difference to the temperature of the planet . A huge difference because weve got to go after the industrial Carbon Pollution thats warming the planet and paying a heavy price. This pushed the price tag on the problem and we know where the pollution is, lets go get it. One last question, im sure youre familiar with the study by the britains meteorologist office. No increase in the global temperature in a 16 year period. I think it was from mid 1990s until 2010, 2011. And thats what the British Office said flatout. What do you make of that . Well, with great respect, im not familiar with the report. What i can say is here in this country, stuart, we just finished the hottest summer on record, 3 1 2 Degrees Higher than the 20th century average. Who paid for it . Our corn growers, our ranchers, and from the Rocky Mountains to the ohio river valley. Our cities, wild fires destroyed 9 the million acres of the forest and field and its seared across the american hartland weve got it take action now. We hear you, bob. We appreciate you coming on. Thank you, bob. Thank you, stuart. Stuart warnren buffett is at i again and wait until you hear why he says the wealthy should pay more, the reason has nothing to do with economics. His reasoning in full at the top of the hour. Back to nicole, now whats going on with research in motion . Why is this a loser today . Its under some pressure here and this news could be dramatic over time. Today were learning that research in motion lost a key contract dispute over use of nokia patents, not only that, but it also could halt the sales of blackberry phones unless research in motion agrees to pay some royalty fees over to nokia. So, this is not done and this is something they have to settle, so research in motion is down, nokia is up and you know, the end. Stuart let me get this straight. We put research in motion on death watch and the thing goes straight up. We take it off death watch and it goes down. Youre right, good point, good point. [laughter] what are you going to do next, stuart. Stuart pay mno attention to th death watch stories. The dow is dropped more, looking for 40 point loss and now 52. 128 on the dow. Time is money, 30 seconds, here is what else we have for you today. Fueled by fears of a crackdown in guns in an obama second term. Colonel oliver north will join us on that. Weve been telling you about problems in california, but the New York Times says a much rose ye outlook and mike reagan will weigh in as well. What day, wednesday, seven early hovers, here we go. Getco holdings made an offer to buy the Brokerage FirmKnight Capital, what does getco do . I dont know, but Knight Capital is up. Chip maker analog divisions. And guide wire software, down goes that stock. Stranger than expected sales at costco and that discounter will pay a 7 special dividend. Tell me in my ear, thats paid this year and another paying dividend this year, is that right . Yes, another big dividend paid this year to avoid what may be higher taxes this year and weve got bill gates and Steve Ballmer face share moerld questions at microsofts annual meeting today. Below 27 a share, id love to ask a question. Better than expected outlook for the apparel retailer and better than expected Green Mountain coffee, that thing is up. 22 the gain. 57 down for the dow. Its another sign that housing could be bouncing back. Sales of luxury homes rising, but price down. And two luxly houses were sold after they were significantly marked down. Lets go fast through this. The Dow Jones Industrial average is down 57 points. More importantly, the price of oil is sharply lower. Down a buck 38, 85 a barrel and more importantly, the your morning gold report way down, and buy the gold coins for christmas, on. Sales of homes, people look for Good Investments and also, many of the expensive homes are much cheaper than they used to be. And joining us, shes going to show us two homes, and welcome back. Ive got to start with the first house in phoenix, sold, i believe, in july of this year, 960,000 bucks way down from the michigan price, tell me. Yes, it sat on the market for 518 days, with six price drops originally listed at 1. 5 Million Dollars. So, its a gorgeous home, almost 6500 square feet on a half acre has the bells and whistles, priced wrong to begin with and someone had a hope after big dollar and a wakeening and sold it for 960,000 after almost two years on the market. Stuart thats terrific because, i mean, im thinking in terms of 2006 and 2007 prices. And 960 grand for that house is a bargain, case can closed. It is a bargain. Stuart fantastic. The second house you brought this one from miami. Yes. Stuart it sold in august i think for 930,000 down from what . 1. 379 and this home sat on the market for 311 days, so they took a 450,000 less to get this property off their hands. Stuart wow. And im trying to walk away with a bottom line for the two homes that you showed us. That bottom line seems to be that bargain hunters, investors are moving in because prices have fallen so much and these homes, theyre getting desperate to sell them. Is that right . Absolutely. Dont be afraid. When theres a lot of days on market. Go in and try to get the baagain and the home you want is a steal. And well, are the homes sold for people who are going to live in them and are they sold as investments . Theyre probably more so sold for people who want to live in them. Not so much as investments, but i do have an investor in miami whos looking right now at a 5 Million Dollar home, it was listed at 59 and going in at 7 4. 75. And you dropped it, and the investor takes a risk that prices could come down in the future. They do. Stuart thats always the risk. Yes, they take that risk and this particular time home in miami, a renter that wants to go in for 30,000 a month for three years. So, this is a good investment for him, but weve got to get the price where it makes sense. Stuart wait a minute, wait a exactly, theres a lot of ifs there, especially with the mortgage deduction and everything going on with the fiscal cliff. Keep us up 0 date on that, im interested in a property that gets 30,000 a month for three years and you offer a million2 less than the managing price, interesting. You bet. Always good stuff. Thank you very much indeed. Thank you so much. A 500 Million Dollar jackpot, a record amount, thousands of people lining up across the country for a shot to win the Powerball Lottery. But is it really just a regress seive tax on the poor . Yes, it is. And the money grab by the staae . Yes, it is. And sandra smith and Charles Payne are here. The powerball discussion next. All right. Everybody, a half billion dollars, yeah, thats a lot of money and thats what you could win in tonights Powerball Lottery jackpot payout win. I say do not buy that ticket. Youll pay a tax upfront and if you win, youll pay a tax and if you have the unfortunate to die, your estate is up a creek. Sandra i dont think that youll talk anybody out of the lotto tickets and bet theyre going to die. Stuart its a 2 ticket. And you buy that ticket. Immediately tax the 50 . 1 goes to the state. And if you win 300 billion dollars, you lose at least a third that goes straight to the feds and then for the estate, local taxes. Sandra youve still got 2 million bucks. Stuart well, do you think thats a good deal. Sandra im saying youre not goinn to talk anybody out of it. What i think is a scam, stuart, im going to tell you why. If you look where the highest population of Lottery Ticket buyers are, its in the most poverty stricken areas in this country and so when you talk about the money that these folks are sinking into tickets when it could be spent you have better chance of stepping outside your front door and struck by lightning than the lottery