Check the big board right now. The dow is off from its lows from earlier. Voting down the Gold Standard over the weekend. Oil is still near a fouryear low. Touching 63 earlier. There is a bounce in oil today. Gas still dropping about a penny per day. 2. 76. Lets bring in eric boling. He knows a thing or two about the oil market. It looks like the saudis are taking direct aim. Is that true . Yes. Yes. They want to come off and think we will not cut production. Reducing about 90 billion barrels a day. They will not cut production because they want to give the u. S. Economy a boost. They are our friends. That has nothing to do with what this is about. How quickly can we scale back production to meet the decline . Maybe not the demand we were expecting going forward. If they can keep the prices low we had a five year low. They were down maybe 40 . As long as the saudis opec said they will not cut production. I was on about a month and a half ago. Maybe 70 will not be the floor. Over the course of time, the futures market is expected at 75 or 80 a barrel. If the economy recovers, you will see higher prices. This is very good for china. China does not produce oil. They buy oil. And they buy coal. Yes. Lower oil prices are very, very good for china. Watch for the chinese economy to heat up. This is also very good for the consumer. 150 tax cut across the board for everyone watching. You will get more money in your pocket. That should drop another 0. 50 a barrel. In other words, though oil prices drop. You will see more slide in the pump price. It does not get people to go out to the malls, though. The Retail Shopping has not improved. You see 3, 3. 05 on the corner. They have all of this highpriced inventory. Once they work through that, reselling it with cheaper inventory. You will see the price go down. What happens to domestic Shell Oil Companies . They took a huge hit on friday. I would not be rushing to buy any of this. It will put pressure on all the drillers. Although fractures. Do some of them go out of business . Yes. I think some of them will. Big exposures to oil. You have a big move in one direction or the other. A lot of them get her. Manufacturing across the board will benefit from lower oil prices. It does not matter if it is plastics or clothing. That is fantastic. This is all fantastic news for the consumer, for the homeowner. Oil production. Is u. S. Energy a lost dream right now . Drillers and crackers will figure out a way to bring oil and gas onto the ground. Right now, it could be a 65 or 70 a barrel. The prices have been over 100 a barrel for so long. They will have to cut their production costs. The saudis can produce a barrel of oil for about 75 a barrel. Can america do that. Can they drop their production costs to the point where we can scale up and scale down . I like cashing in. Thank you very much. Not everybody thinks that the saudis are trying to kill u. S. Fracking. Do you think the saudis are trying to kill our industry . They are probably trying to. They will not kill this industry for exactly what eric was talking about. I want to pull in Something Else here. We talk about the 40 decline in oil prices. Think about this. Think about what happens at the National Gas Price a few years ago. 12. It fell all the way down to three. That is a pretty big decline. We are still wrapping for national gas. This is something that i think is an undeniable positive for the economy. Every penny decline in the gasoline price is a billion dollars in the pockets of american consumers. How low can the price of oil go and these show producers still survive . Now they are saying 60. What we are experiencing right now is a stress test. We will find out what they can produce at. 67 or 68 today. What if it goes to 30, steve . I would like to see it fall to 10. It will not fall to 30. It will maybe fall a little bit more. The stabilization price is somewhere between 65 and 80 a barrel of oil. We are way ahead of the rest of the world. Are we now increasing in Silicon Valley . We could cut the prices in half. Is it the same with fracking . These prices will fall over time. Already, just in the last few years you are seeing incredible improvement. I wanted to have another point. What kind of winners and losers. Lets not forget who the big losers are here. Venezuela and russia. Iran, by the way. Isis is a big loser here. This is gigantic. No question. There will be some fallout. Yes. That is creative destruction. I read your lips. [laughter] great to see you, my friend. Fewer people went to the mall this thanksgiving weekend. Spending was down 11 . More people are shopping online. Stephen herzog joins us right now. Overall, if you add in online sales, is it down . It is down for black friday. It is not just about black friday anymore. It is about black month. The entire Holiday Spending month. We cannot just look at that one day as a gauge. A lot of the stores have been promoting since the beginning of november. They will continue to promote all the way through december. The fact that traffic, for example, if you look at this tape, Global MobilePayment Systems have been up. Low gas prices would mean everybody would use the extra gas mileage to go to the malls. That did not happen. It has not really hit the consumer yet. We have a month. People have been spending. It is not just about venues and the lower gas prices. If you look at targets numbers, for example, we will see that for a lot of these other retailers. You said for a while that that could tumors feel richer. I feel that is overblown a bit. They still are not getting that much more in their paycheck. There is the inflation of where it hurt them at the Grocery Store and elsewhere. Do you really think that people feel richer . I think the people that have been doing well definitely feel the lab richer. The vast majority. They do feel like the economy is getting a little bit better. They may be dipping into their savings. We cannot discount the fact that these gasoline prices are making them feel a little bit richer. Every merchandise branded frozen is flying off the shelf. I feel like it will be a halo effect. Elf on the shelf. We have the creator coming up on the end of the show. Al qaeda planning a Christmas Spectacular in europe. Five commercial airliners. Can we stop it . K. T. Mcfarland is next on that. Checking the big board. It is down. It has recovered a bit from where it was. Mass that down about one third and 1 . Gold, by the way, is up. A lot of people thought that it would be down. Apple is leading the way down, for a change. Nicole pretty interesting. We saw a dramatic move in apple. 9 51 a. M. A big selloff here. The move is the largest we have seen in three months. The traders are attributing this to Morgan Stanley and guard. The stock is clearly up off the lows today. The low was 11127. Right now it is at 115. 72. We are seeing this stock trading on. You are seeing a big move. Thank you very much. The british newspaper reporting a terror plot to blow up five passenger jets. Some officials have called this almost inevitable. Do you think so . This is a new weapon. It is cheap. It is easy. The isis said text messages. We know where your family is. We will kill them. What are we talking about . Finally, the United States military. Isis is saying to civilians go after them. Spectacular, as it is being called out. Is there a way that our intelligence can get ahead of theirs . Yes and no. You always had to turn on your cell phone to show that it was not a detonation device. That is the off side of that deal. Are any of the chap points i go by them so often and wonder if they are doing any good . Keep looking for the weapons. You take your shoes off and now it is potentially cell phones. We ought to look at the people. I think we should look at the new type knowledge he that did not exist two years ago. Use those to zero in on people that have abnormal behavior patterns. This is not stereotyping, this is not profiling. Looking at people that are visiting those jyoti sites. Take an extra look at them. Now you can communicate with your soldiers who are in the field or jordan Navy Personnel or whatever it is. Instant communication. There is a downside to that, as you just mentioned. Think about it. As you point out, military personnel, that is how they communicate. They communicate on facebook. They communicate on the internet. We know where his family is. Then the sergeant gets a text message saying we know where your family is. Maybe the family does get targeted. I communicated with family members that are in the military. I do not want to make it any harder. I love the communication. I wonder how secure some of these communication sites are. You do not even have to break into anything. I am talking beyond twitter and facebook. I do not think that the military is capable of keeping up with it. That is why we need to enlist Silicon Valley and our tech community. Best Holiday Christmas gift that you could give it show us what we need to do to keep those people safe. K. T. Mcfarland, thank you very much. Amazon breaking sales on black friday. Robots. We will take you there live next. Hey, jennar fuzz mike troober munny sling. Awwwwww scram im crust mike jubby roll bond chow gonna lean up an kiss bet. Peas charty get town down. [laughter] borf a liver tute face stummy wag pow pam shabeeps stella nerf berms. Saxanay nay . Badumps a head. Temexiss gurrin. Juppa left. Fluppa jown brone a brood. What . Catch up on what everyones talking about with the x1 entertainment operating system. Preloaded with the latest episodes of the top 100 shows. Only from xfinity. Taking a look at social media stocks. This is a sector getting hit hard today. This is russias answer to google. Here is a link to oil. The global drop in oil is hurting russias stock market. Some of the more familiar companies are down and sympathy. Record sales over the long Holiday Weekend. It will be a busy weekend. Making sure you get your Christmas Present on time. Jo ling kent is in california. What kind of jobs do they have these things doing . We have audio problems. Now she is good. Go ahead. It is really fascinating. 320 pounds. Programmed to deliver to the packers here at amazon in california. This reduces the amount of time a human worker touches things at amazon. Amazon required these robots a couple years ago. This is actually part of many reasons why moodys has downgraded amazon. They issued some debt this morning. A lot of that money will not be used for cap ex. That is why you see this this morning. Down about 2. 6 when i last checked. Increasing efficiency in the longrun. Able to have much more stuff packed into this warehouse. Anything related to frozen, the disney movie, doing very well. A lot of big news on amazon. I do see a human being in addition to the robots there. The question at the center of the case, how serious should threats be taken on the internet . Judge Andrew Napolitano is next. 3rd and 3. 58 seconds on the clock, what am i thinking about . Foreign markets. Asian debt that recognizes the shift in the global economy. You know, the kind that capitalizes on diversity across the credit spectrum and gets exposure to frontier and emerging markets. If you convert 4quarter p e of the s p 500, its yield is doing a lot better. If youve had to become your own investment expert, maybe its time for bny mellon, a different kind of wealth manager. And black swans are unpredictable. David well, the market is recovering. Look at this. Down 36. Again, there are other indices down a lot more. The nasdaq down over a full percentage point, but its improving. The dow coming off 31st record close for the year, so it is an improving market, it may not get into the plus sign within this hour. But we can hope. Oil near a four year low touching 63 earlier. Right now, that price has interested. Up to 68 a barrel. The National Average at 2. 76. 42 states with average gas price under 3 a gallon, only seven holdouts, new york, vermont, connecticut, california, washington, oregon and the district of columbia. The cheapest gas in the United States, 2. 10 that is at a citgo at north houston. Oil and gas prices, roll the tape. About 150 billion tax cut across the board for everyone watching. Doesnt matter if you are at the bottom end or the top end. You are getting a tax cut. More money in the pocket, and we showed a 2. 75 pump price should drop another 50 cents a barrel based on the oil price. David to a tax fight brewing on capitol hill. Rich edson joins us from washington. Whats the latest . Talking about whats known as the tax extenders, expired or expiring tax provisions, they are specialized tax breaks, taxpayers and businesses, in limbo whether they can take the popular deconductions when Filing Season begins next month. The white house scuttled a deal between democrats and republicans in the senate. It would have made permanent for research and development, the white house says because it failed to also extend past 2017 expanded credits for parents with children or lower income workers it too favored businesses. These dozens of tax extenders expired last year. If Congress Strikes a deal it would retroactively reinstate deduction. Negotiators are still trying to reach an agreement before Congress Goes home for the year, david. David well have more on that with art laffer at the top of the hour. Thank you very much, rich. President obama sold his Health Care Law to corporations by promising saveings if they started Wellness Programs, giving incentives for boys to lose weight, exercise, quit smoking, Healthy Living means Lower Health Care costs. The president S Equal Employment Opportunity Commission is filing lawsuits against the companies implementing the new rules. Why . Its illegal to ask employs about certain aspects of personal health. Judge Andrew Napolitano is re. Judge, i would say this shows the suicide pact between the corporations and big governments. Crony capitalism gone wrong, right . Certainly the Insurance Companies did. I appreciate you mentioning the book, david. It is atine of tyranny for the government to write laws that are so complex that by following one law, you are violating another, and for the same. David republics have been doing. It forces you to be a law violator inconsistent with the constitution with basic principles of morality. For obamacare to say you employ 50 or more people. You have to set up Wellness Programs for obesity or diabetes or depression. If you ask them, you are going to violate the law, thats absurd. David dont you think they recognize some of the inconsistencies here and that they were just trying to lure corporations into something they knew would screw corporations. They had no intention of letting corporations off the tax hook, were they . I dont know what the intention was. The law is so complex, no one read the statute. In my view, the statute is a shortsighted unconstitutional transfer of wealth mechanism, under the guise of being a caring for health care for the poor. David to your point, this law is so complex, if you follow one piece, you have to contradict another. Im thinking more conspiratorial that the administration thinks they can squeeze corporations dry, that every lure that they use to bring corporations into obamacare at the end of that lure, there was a hook by which they were hoping to hoist the corporation. The administration thinks the president can enforce laws that he agrees with, that the president can rewrite laws and the president can change the laws, it is not beyond them to think as you suspect they have with respect to obamacare. Did they lure people in . Look at professor gruber from m. I. T. We know for a fact the principal architect paid more to write the statute than the president earns in a year was attempting to dupe members of congress by the way he wrote the law. David were going to hear from mr. Gruber, speaking in front of a committee. He will be asked did you share your views with the president . Did the president sign off on your belief that, in fact, we were duping taxpayers into coming along with no intention of giving them a better break. Isnt that exactly what the administration is fining a lot of banks for . Luring consumers in, in their real estate deals . Oh, but david, the government is allowed to lie us to and the Supreme Court said that. We can go to jail. Ask martha stewart, for lying to the government. We can be sued for lying to our clients and customers and business colleagues, but the government can lie to us all at once. Constitutionally they are allowed dispensation for this . Yes, yes, in my view the Supreme Court opinions are wrong. They are clear, consistent and the law of the land. The government can lie, cheat, misrepresent, even steal in order to enforce its own laws. David talk about free speech, the Supreme Court hearing a case over a man who posted violent rap lyrics about estranged wife on facebook page. Heres one quote judge, the man was convicted of making threats against his wife. He claims matter of free speech, writing lyrics to a song. I have the right to put that on the internet. His conviction was upheld and accepted by the Supreme Court. In my view, the reason the Supreme Court accepted this case is to invalidate his kwiksz. David so he will win . Thats my educated guess. You know my job is to watch what the Supreme Court does. These present nine members of the court have the most pro free speech, pro First Amendment history of any Supreme Court in the modern era. Secondly, one ordinarily is not punished