Barrel today. And thats confusing everybody in the market. Now the isnt abouter stocks. Look at that fall 3 90 points. The talk veally about recession. The talk is about deflation. People are worried about the economy now. Why . What provoked all of this down. 3 trillion from the high point in 2015. This isnt like a blip. This is well, the numbers speak for themselves. People feel like they have seen this movie before and i think individual investors are more incline to do sell earlier rather than later and be patient which is probably what they should do. Yes, the oil price is important but we have got a slowdown in china that is affecting the entire planets economy, effecting all countries. There is worries here domestically. Earnings for companies are down, falling, not good. And now we see that we are entering our tenth year of g. D. P. , thats the growth of the economy that is 3 or less. This isnt the america most people know. We are growing very slowly. If you slow down just a little bit more, you are in recession. Well, china has actually had more of a growth. They have actually had a higher number than 3 . How do we sort of turn our 3 around to be 4 or 5 . Well, first of all, you cant really believe what china says. Okay, their numbers are suspect always. How can we grow our economy more . Well, there is some simple solutions. You cut taxes and that gives more people more money to spend. It gives companies more money to invest. And you create an environment thats friendly to business. Gerri, thank you very much. Thank you. So what is behind the worst two week start to a year ever . Is it like there to get worse . What does this mean four at home chairman and editor of chief forbes media goes on the record. Good evening, sir. Good evening, greta. How are you . Im very well. You see these horrible numbers. Im thinking what if you are sitting out some place in my hometown and you own one share of stock. What does that mean for that person . I know what it means for people who own stock and have seen it crater. What it means the outlook for the economy the outlooks dont look very good. No policies put in place that will regenerate growth. The Federal Reserve is still gumming up the q credit markets which small and new businesses. Profits are under pressure. Regulations are coming out that are burdening especially Small Businesses. And the back lending to small and new businesses has stalled because regulation is ownerous. You put all that together and the business is still not good. Still not clear whats going to happen in the political process. If progrowth policies look like they were going to come in. Markets anticipating the future are starting to rise up. They dont see that picture clearing up yet. Why did it seem to move so rapidly even in the first few days of this month 1. 5 trillion decline. Is it just the price of oil . Is that enough to shake everyones confidence . We have drastic cuts in the price of oil back in the 19 80s. But we had progrowth policies in place. The reagan tax cuts. Conquering en inflation. Deregulation of some major industries. So the rest of the economy grew rapidly. This time you are getting a crash in oil prices. And you dont have those progrowth policies in place. So that means you are going to have bankruptcies there that are not going to be offset by vigorous new Companies Rising up as we had in the 80s and 90s. To what extent canm . You assign part of the responsibility for this, at least the last few days to the Obama Administration policy . I mean, is it just so many different factors or is this something directly that emanates from an administration . Well, the Obama Administration hasnt had real growth progrowth policies for a long time. And they are no indication that that is going to change. Regulations are continuing to come out of the e. P. A. Is continuing to go on a rampage. Other agencies like the fcc are now putting its claws more and more into the internet, slowing down investment there for the future. So, its the policies have been in place and they are just like its water torture just hurting the economy more and more. We cant get out of second gear. We should be growing at two to three times the rate we have been in recent years. Afternoon the rest of the world is noticing it. So, if we are faltering, the rest of the world is going to falter as well. All right. So the way that it gets down to like someone who doesnt have stock is if you maybe want to expand your gas station or your diner or something, you are north going to be able to get loans and you will be afraid to and sort of putting the a foot on the throats of people all the way down the economic chain. Thats right. If you can get the financing, oftentimes now you can get from new sources but the Interest Rates are higher which puts pressures on Small Businesses. But, in terms of people who have stocks, my advice is dont panic. These things dont last forever and you get whip sawed by emotions so even though the waters are choppy right now, this sounds polyanish but it has to be said, this country always finds a way to move ahead. Im old enough to remember the 70s, the decade when things looked hopeless and we had two fantastic decades in the 80s and 90s. I hope you are right. Im a little bit of a nay sara and i feel like sooner or later we are not going to have that. We have been lucky its bounced back. You know better than i do. Anyway, steve, thank you. Thank you, greta. Turning now to 2016 and the fizzling issue. The big apple. Yes, new york city was a hot issue in last nights Fox Business Network debate. Donald trump and senator ted cruz battling over a comment senator cruz made earlier this week and repeated last night. I think he may shift in his new ralliesboi to play new york, new york. Because donald comes from new york and he elm bodies new york values. And, listen, the donald seems to be a little bit rattled. Donald trump not happy with the new york values crack quickly defended his hometown. I think most people know exactly what new york values are. The values in new york city are socially liberal or proabortion or progay marriage. Focused around money and the media. Concept of new york values is not that complicate to do figure out. Not too many years ago donald did a long interview with tim russert. And in that interview, he explained his views on a whole host of issues that were very different from the views he is describing now. And his explanation, he said, look, im from new york. Not a lot of conservatives come out of manhattan. Conservatives actually do come out of manhattan, including william f. Buckley and others, just so you understand. When the World Trade Center came down, i saw something that no place on earth could have handled more beautifully, more humanely than new york. You had two 100 and the people in new york fought and fought and fought and we saw more death and even the smell of death, nobody understood it. And it was with us for months. The smell, the air. And we rebuilt Downtown Manhattan and everybody in the world watched and everybody in the world loved new york and loved new yorkers. I have to tell you that was a very insulting statement that ted made. [ applause ] just moments ago senator ted cruz addressing the issue. Hillary clinton and andrew cuomo and bill de blasio have all demanded an apology. Im happy to apologize. I apologize to the millions of new yorkers who have been let down by liberal politicians in that state. I apologize to the hard working men and women of the statee of new york who have been denied jobs because Governor Cuomo wont allow fracking even though there had been many high paying jobs just south in pennsylvania, new yorkers are denied the ability to provide for their family. I apologize to all the prolife and promarriage and prosecond amendment new yorker whos were told by Governor Cuomo that they have no place in new york because thats not who new yorkers are. I apologize to all the Small Businesses who have been driven out of new york city by crushing taxes and regulations. The on the record Political Panel is here from the Weekly Standard danielle hell per and from the Washington Times steven dine than. Ic. Ven, that was no apology. Yeah, look, two things. Yesterday, in the clip you just played have you ted cruz literally applauding Donald Trumps response attack on him. Thats devastating. That split screen was ugly. You see today the apology as it is actually ignores donald trump and essentially goes after new york again without even making the connection to donald trump there. He is losing this and it is not a smart move. Just basically trash the town without even still having that his goal was to say donald trump has flip flopped on issues. Thats a fine attack to make. To go back and lay out those issues. Attacks the city÷ isnt getting that done. [r danielle, he just dug himself deeper for all of those new yorker whos werent impressed by his Statement Last night and a couple days ago. He just dug himself in deeper. Look, substantively, i dont think its stupid of ted cruz. He need to do make a difference between he as a movement conservative, as an ideological conservative and donald trump as somebody else. But he tried to do it too subtly. He tried to be cute. He tried to be too cute and he got whacked. With donald trump i think ted cruz proved in other parts of the debate you come in strong, you have it be forceful. You do this weak stuff and you are going to get whacked around and slapped around an20l v are going. Its interesting how donald trump how say is quite a colorful language and quite a colorful come back was sort of, was so sober in his delivery. Such a jokester and so serious and sober. Stephen says and then in the split screen you have poor ted cruz having to clap as he is getting buried by donald trump. Ugly, ugly. I mean, this is not what he wanted. And thats why you have to come in forceful. Proved in other parts of the debate. In that moment, his line of attack has not served him well, even though he has need to do make the argument that he is a conservative and donald trump isnt in order for him. I suppose there were other good times in the debate for senator ted cruz but we in the media with that great wisdom we pick the one that grabbed everybodys attention. And thats the one everyone is going to keep seeing tonight that missed the debate last night. Thats the problem with this attack. Right, it overshadowed some really good exchanges, a pretty good defense though. Donald trump certainly still got his point across on ted cruz and the birth issue for the constitution. But, all of that was overshadowed. This is the flip thats been playing. He is now getting asked about defending it on the campaign trail. You know, he is a very good debater. Its sort of a shocking. I think today being we have more on the scuffle between these two candidates. This is a fox news alert. A hostage situation in a hotel in west africa. Heavily armed fighters. Storming a luxury hotel and fox newsnyaz chief intelligence correspondent Catherine Herridge is here. Catherine . Greta, what really matters about this attack is that it is the new signature or flavor for terrorism. Its what they call a low tech high impact attack. That means that theyre using traditional firearms, grenades, they are lighting hostages. But it has a big impact. Its a big commercial impact. And if you look at the terrorist attacks over the last 10 days, whether its istanbul, jakarta, or now this very small land locked country in west africa, you see they are focusing on soft targets and targets that are likely to have european and american citizens. The a. P. Is now reporting that 20 people are dead from this attack on this hotel. Well, just in the last few minutes, al qaeda in the islamic known as aqim has one of their social media accounts. This is significant because this group is extremely active in north africa, but they is somewhat of a power struggle in west africa between al qaeda and isis. If you looked at the map, most people have not heard of burkina faso. Its niger and mali. Mali, in the last few months had that horrible attack on that Radison Hotel where actually many westerners, a woman actually from the state department who lived here in washington she was killed in that attack. Heres the bottom line. Were talking and very focused about syria and iraq with isis. But in many respects, these terrorist groups have moved on to chapter 2 and chapter 2 is in north and west africa. Unfortunately what we are seeing tonight, this small country that most americans have not heard of is really the new flavor and the next wave of terrorism. And, of course, i always point out othe horrors of sudan which is cant point that out. I cant point out enough about sudan and their president under indictment for genocide for killing tens of hundreds of thousands. Anyway, thank you very much, catherine. Youre welcome. Developing right now, there is new information from the pentagon about iran seizing so of our navy sailors from the persian gulf. Defense officials are now saying the 10 u. S. Sailors were told by the iranian cap captors to act happy while being videotaped. It was broadcast on iran state tv. The video showed u. S. Navy lieutenant giving a socalled apology for drifting into iranian waters. He may have been under duress. They think the Navy Lieutenant should be Court Martialled for his apology. As an aside, i dont agree. Tonight, fox news also confirms the u. S. Navy crew apparently decide to do cut a corner to make up time to get to a planned refueling point that might explain how they ended up in iranian territory. Tonight, we simply do not have all the facts. And donald trump and senator ted cruz squaring off over the birther issue. But how big is this issue . And is it real . Thats next. Also, the highly anticipated benghazi movie 13 hours in theaters now. And one candidate is using the movie to help his campaign. Wait until you hear what he is doing and who it is. Thats coming up. 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At ally bank no branches equals great rates. Its a fact. Kind of like reunions equal blatant lying. The company is actually doing really well on, on social media. Oh thats interesting. I i started social media. Oh it was my. Baby. Back in september my friend donald said he had had his lawyers look at this from every which way and there was no issue there. There was nothing to this birther issue. [ laughter ] since september the constitution hasnt changed. [ laughter ] but the poll numbers have. [cheers and applause] i would note that the birther theories that donald has been relying on, some of the more extreme ones insist that you must not only be born on u. S. Soil but have two parents born on u. S. Soil under that theory, not only why be disqualified, mush would be disqualified. Bobby jindal would be disqualified and interestingly enough donald j. Trump would be disqualified. Donalds mother was born in scotland. She was naturalized. Now, donald but i was born here. On the issue of citizenship, donald. Big difference. Im not going to use your mothers birth against you. [ laughter ] because it wouldnt work. I already know that democrats are going to be bringing the suit. Who the hell knows if you can even serve in office. There is a big question mark onrhy your head and you cant do that to the party. You really cant. You cant do that to the party. I will tell you im not going to be taking legal advice from donald trump. You dont have to. Donald trump once again the leader of a birther movement. And once again target is not president obama but instead 2016 rival senator ted cruz. Is senator ted cruzs eligibility a big problem for him or trump trying to muddy the waters of his closest competition. The on the record Political Panel is back. Is what do you think of this i might add im eligible. When ted cruz is good, is he really good. That was a very good defense. Bringing up the mother i have a feeling if this begins to hurt ted cruz there are signs it might be hurting him a little bit around the edges in iowa ghvment a close election that matters around the edges. I think he will be using Donald Trumps mother and her not being born in america against him. But he was born here, right . Donald trump was born here. He claims under the same logic that therefore donald trump is not a naturalized citizen if you are going to count ted cruz as one. That was his argument last night which3 i thought was pretty persuasive. I think we will be hearing more of it if it hurts him and it is hurting him a little bit. Its only going to become a bigger issue. Even as silly as it might seem. Whether ted cruz wins or loses on this. I have article for from two harvard professors one republican, one democrat and article from a professor in the the Washington Post but regardless, assuming that senator ted cruz does win this, this is a big distraction. It is. Although the polling suggests as daniel says its not particularly hurting him right now. We saw one poll where they didnt ask about it and the iowa voters, caucus goers, a number of them offered it and said well, we have questions. The question is whether any of those cruz voters in the first place and we dont actually know that its not clear how much its hurting him, number one you are exactly right. He is talking about things he doesnt want to be talking about about new york and his birth. Instead of all the issues and the establishment and those sorts of tho