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They say hey there's snooping to protect that.
But as the lawsuits pile up will this -- asked a -- and that.
Hurting one of the strongest part of our struggling economy hi everyone I'm Brenda but -- save is Bulls and Bears here they the -- this week.
-- Smith Tobin Smith Jonas Max Ferris John Layfield.
Along with season hot welcome to everybody okay Gary be using all -- snooping could shock the one.
Part of the economy -- actually growing house -- -- absolutely Brenda look I'm I'm gonna call this the NSA tax if you well.
You know we have been the e-commerce.
Segment -- -- -- GDP is about 269.
Billion dollars it's growing the fastest of any retail segment that we have out there it.
Back that's probably if you look back over the last for years really supplied the bulk of the jobs and growth and innovation in the retail sector.
If people now are afraid to go on line and they all are.
I mean -- bit afraid in the past you know credit -- feelings of like that this is only gonna exacerbated.
If that industry starts to shrink -- boy the economy is really gonna suffer.
All judge you say -- consumers' are gonna get used to it after allow.
-- expect look I don't think it's gonna change shopping behavior like a good day agents you can save 3% on somebody go to an unsecure an -- connection vs game -- -- -- going -- a story gonna take that deal that's said there are other parts of the Internet which -- be burdened by.
Overreach of the government to be -- good looking out for our now our security.
You know the whole email -- if you stop -- emails or give less because you think they're being watched mr.
Making phone calls or you know using faxes a lot of companies I have to enforce a -- faxes in many cases.
Because of security issues -- the email and city applications it's a slow it slows down productivity.
There's errors on its glories -- -- all media and it creates needless use of labor so you can -- on the efficiency that we get from the from the Internet -- -- listed a paranoia rethink everything is insecure because.
It's an NSA agent is re directing traffic into their super -- had similar both tell me it's not really American consumers you're worried about Q do you think that it may be globally there's going to be this parent.
Well as Gary says absolutely Brenda I mean the big issue here is that 90% of all the clients all the customers of FaceBook or AOL or any it is -- Google are.
Outside the United States.
And you know particularly in Europe they have a whole different idea about what personal privacy is an -- -- a lot of more privacy even in our united -- Beat it if you look at the business growth of those companies -- remember every.
Every dollar that they create over and -- let's say Germany creates two or three dollars of income over here because of management because of you know the data centers -- -- So I think the biggest issue here is that we probably disregard the fact.
That that the Internet businesses which Gary's point are one of the fastest growing and and high paying jobs and a country.
Are really a threat outside the United States -- more than inside you know.
Well Susan you actually think this could be a better -- to the economy.
I do you know I think we blocked a lot of the privacy around purchasing data already and people are comfortable at that you know.
You buy something on the Internet you know Jonas by the dot tie on the Internet and -- he's seeing ads for -- pop up and that's because they're they're.
Coming through your purchasing data and they're suggesting -- -- you.
So we already kind of gotten comfortable -- some level of losing that that privacy there.
But when you think about encryption I think that there can be a really good strong boom and the encryption service it got -- now.
On our web search is there a lot of companies -- thirty return did S and you know this is what American ingenuity looks like least you probably find -- -- OK John do you think this is gonna impact the economy and and for the good -- bad.
I don't think it's coming neck was no well either way look -- had a lot of problems in 2007 would begin.
That was share users' data with advertisers like -- better target certain users.
That really hurt him -- for a time being.
They got over that look at cloud based computing in the United States you're gonna have a fall back -- having some of that.
For corporations overseas and governments overseas.
But FaceBook wasn't going to get -- China anyway and the consumer here -- this is like saying the phone companies are going to die because there was wiretapping.
In Watergate it didn't happen then.
And people now realize what our government's been snooping experts say it's their first -- Had a horse there's an idea that with a strained ties with waited this is nothing -- -- that our government snooping on people.
I think you don't realize that.
You about your college education John provide a -- back here.
I would prison out of this I.
I don't know how they did that's -- -- when there -- two -- on either -- with our third camp we didn't get into the in the middle -- -- the -- but in any event.
Yeah at a good point about the productivity but you know what he did mention is that shopping over the Internet we're come back as e-commerce point.
Is a way of improving our productivity if you know even 10% of the people out there is that you know what.
I'm second this whole you know this buying stuff I don't trust CNN -- -- I'm not gonna buy something on eBay or an Amazon.
I'm gonna have to pick -- get in my car and drive to the mall.
I got some people are avoiding that.
I boarding the hours you spend doing -- avoid spreading the gasoline.
I think this could have a significant impact.
But Gary what are what are you what does somebody do it on line when they're buying something that has anything to do with spying originated in little terrorism -- right.
-- -- -- it if you're afraid of that I'd be much.
I think -- -- I agree I agree with you terribly but do you think the common man out there or woman is able to make that this -- -- all of yes I -- -- -- say about your bottom line Americans aren't I I.
I'll be nervous when the I don't I think that they're looking at all the date all transactions out there OK -- I think you're can be confusing the other risk of like -- of credit card security when you're shopping with.
Wholesale and storage of our data by the government now for example right now nothing going on as -- -- and for which we -- try to put all these documents and files.
And transactions that are all local servers onto the Internet.
That's a huge wave going on in business and he could get slow down if you think well.
If I put everybody's falls in line and then the government has has access to whenever they want they really can't do that in your own on your own hard drive without warrants is easily so.
What -- that's sure not it could lead to that kind of behavior really slow -- the movement of paperwork to -- but the health condition moving documents online -- health records on line out of paper files.
You can get in the way awkward consumers wouldn't want that necessarily because they perceive that the governor could no -- part of data out there is open to hackers -- -- buyout vice Ted you know essentially I think -- is -- -- Aren't there how exactly corporation's thirty how the hunted out of data there aren't writing all this information -- -- anyways I don't think consumers' are gonna really CNN what do you point that's like saying it's -- stopped.
Lou doing local police work that this could be a booming burglar -- -- your business like that's yet it's good that kind of -- not a good way to around the country and our.
OK let me at eleven there.
Ever remember that also beginning to dinner right out of the -- and -- it doesn't matter what you sort of your hard rock everybody else's -- right don't get -- right out of the yeah that's a -- I'm sorry I think it's been happening in and that has not slowed down -- over Europe governance.
No I don't know I would declare it my store files on my hard drive on a computer my office for example.
That's different than on the cloud because entitlements and needed somewhere where it can be interjected by the computers -- whatever the dead as they did and here's a little you have -- caught -- -- email instantly think the government cares about I don't care but Edwards stuck -- And I audible signal that -- -- this.
-- all right John.
-- look at that there's a reason that Kobe loses credit card restaurants he brings a lot of wind and he lacked the legal on the table so they'll have got to.
Ways -- Al -- and brothel does affect not always good about like near point -- called I got up.
I'm right we have to get a -- I don't.
Don't care about how good does by the that's what -- -- them -- -- people are apparently ways bio and ours too that's not -- thankful we borrowed ebooks are not not my opinion okay that's got to be the last -- thanks guys.
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