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tv   Mad Money  CNBC  July 8, 2021 6:00pm-7:00pm EDT

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ndi shares. >> it looks like the bond market may have run its course, i think you buy tbt. >> nathan. >> i'm with you on your pfizer breaking out above this range it's been in for two months. >> thank you for watching "fast money" i'll see you in 12 hours on "squawk box". mad money" with jim cramer starts right now my mission is simple -- to make you money i'm here to level the playing field for all investors. there's always a bull market somewhere. and i promise to help you find it "mad money" starts now hey, i'm cramer. welcome to "mad money. welcome to cramerica other people want to make friends. i'm just trying to make you a little money my job isn't just to entertain but to educate and teach you so call me at 1-800-743-cnbc. or tweet me @jimcramer. may i kindly and politely ask the politicians around the world to cool it and stop doing more
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harm than good maybe do your jobs and protect us from real problems. maybe support businesses that work and stop attacking them maybe stop shaking down winners and going after the bad actors instead? on a day where the dow dropped 260 points, s&p shed 0.06, nasdaq lost 2.7% and it was much worse over the day i put the sell-off squarely in the laps of politicians around the world because we right now have a failure of global leadership >> they know nothing. >> let's start with the obvious one, the delta covid variant we'll speak to dr. eric topol. first here in america we are doing a much better job of getting people vaccinated but we screwed up big time when we made it voluntary millions around the world, they've died of covid, millions have been saved by the vaccines. yet now we have a new strain of
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the virus spreading like wildfire in parts of the country where people seem to be afraid of needles or politically against the process. i want you to compare that with one of the great presidents, president eisenhower who mandated everyone get vaccinated against polio as soon as we had a working vaccine. i was. it wasn't a voluntary thing where your government recognized your right to choose to get sick wiping out polio was something he refused to bulges on. we did the exact same thing with smallpox 120 years ago but today, today we got no rules we don't know if companies can force their workers to get vaccinated we don't even have the fda on board. neither pfizer's vaccine or moderna's have been approved they're just being administered under emergency use authorizations the fda will prove an alzheimer's drug of incredibly dubious efficacy but a vaccine given to hundreds of millions is treatmented as an experimental
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exception. maybe you think this is a technicality but so many americans don't trust the vaccines and the lack of fda approval sure doesn't help i change the fda to explain themselves and their foolhardy behavior they are just plain off the reservation. i point all this out because today's sell-off was about the delta variant especially the way governments have dropped the ball i was futures at 4:00 a.m. they were soggy but took the real header when we learned there would be no spectators allowed at the tokyo olympics. what the heck was the japanese government thinking? i couldn't understand this until i looked up the numbers and saw only 15% of japan's people are fully vaccinated 15, 1-5. i can't believe they would let the olympics go forward without seriously preparing for a major outbreak but even now banning spectators seems crazy why not just ban everyone not vaccinated governments. hey, how about the prc, the people's republic of china
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insisted on using its own vaccines even though they only work typically at best as well as the flu vaccine, maybe 80% but some say it's closer to 50%. 50%. that's not enough. now, if they swallowedtheir pride and went with pfizer or moderna their people would be much better protected but they won't do that. and now china's economy is slowing thanks to a resurge in covid outbreak totally unnecessary. yes, they could. they could bite the bullet tie up pfizer or moderna but hope they go with biontech we know governments have handled this poorly. including the decline of treasury yields everyone is upset about has to do with the spread of the delta variant. you should fear it fear of what it will be do to travel or mutate and break through the vaccine. that's making investors worried about slowing growth so end up with a negative loop where people swap from stocks to bonds. that's what's happening. believe me, i've done enough work behind the scenes, it's not
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just that the world leaders keep finding new ways to screw up the response to the pandemic some stocks are getting hit thanks to hostile government intervention we know the democrats and republicans hate each other, right, ridiculous? the only thing they agree on is facebook, amazon, apple and alphabet are too powerful and must be broken up and want to penalize them and pass laws to hobble them like kathy bates did to james caan in "misery." we learned alphabet is being challenged for something we didn't notice to users, sometimes i wonder if the politicians for both parties are aliens, maybe from like mars or something who don't use these services hey, maybe it's just that they tend to be really ole. i'm looking at those ages. they've chosen to go after all these big tech companies that make our lives better and offer us amazing bargains. to the extent there is a real
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antitrust case is the bargains are too good and unfairly hobble the competition but the answer is forcing, say, amazon to raise prices thanks for nothing or how about president biden coming out and downgrading railroads? that's how i see his new executive order allegedly anti-competitive behavior of the rail industry. that's the first time i've ever heard them being accused of price gouging. want to be pro-environmental maybe it's not the best thing to attack the rails, 400 miles to the gallon is what they get. maybe biden wants to block canadian national but his order crushed the group. what are they supposed to do lower prices when the competition is more expensive. railroads are not a monopoly so you have to expect a certain amount this is anti-business. an american president hostile to president is different from a chinese president hostile to
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president. president xi remembered it was supposed to be a communist country. they don't want cryptocurrency so trying to stamp both out and he turred out to be an equal opportunity destroyer. he let chinese uber become public then forcibly removed it from the app stores. don't blame me i didn't know. pretty egregious although it doesn't come close to the worst crimes of the region the regime and i'm talking here about like putting religious minorities in concentration camp, yes, nike, they do do that finally can our government get it together and make it a crime to pay off the hackers who use randi zuckerberg that would force the prospective targets to actually spend more money on cybersecurity as long as we have no real system in place, businesses will underinvest and protect themselves and the attacks will keep coming. cheaper to pay off the bad guys then bring in crowdstrike or palo alto. if we get covid undercontrol
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bond yields and the stock market will start rising again. i don't see much hope for speeding up vaccinations without paying them or coerce them america is one of the best vaccination programs on earth and we're still getting hammered by the delta variant so just imagine how the rest of the world is doing and you know why the stock market got clobbered in the market and improved as the overseas markets closed during the day joey in arizona, joey. >> caller: boo-yah, chill man, corning glass, six manufacturing plants in mainland china should i be worried about the regulatory crackdown >> no, if you make it in china they seem to be fine with you. here's the problem, i don't think there's enough earnings momentum to want to be in the stock of corning so i am going to say no. all right. look, we're certainly not out of the woods just yet with covid but if we get the variants under control by forcing vaccinations fda approves it bond yields could rise "mad money," i'm sitting down with good rx's ceo and find out
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how they're working to make affordable health care more accessible could a more sustainable approach to shopping also make for a winning investment i have a company you have to listen, ceo of poshmark and one of the top doctors flashing a warning signal when it comes to the fda and the delta variant. what the fda can do to help. stay with cramer >> announcer: don't miss a second of "mad money." follow @jimcramer on twitter have a question, tweet cramer, #madtweets send jim an email to or give us a call at 1-800-743-cnbc miss something head to
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what do you do with a company with a great concept runs into serious competition? that's the question we need to ask about good rx. the platform lets you comparison shop for prescription drugs which has a telemedicine business i was a fan of it when it became public last september. i love their app use it all the time. in november amazon launched its own pharmacy business and walmart announced a big expansion of its cheap drug pricing program. two of the largest retailers in america, incredibly deep pockets and are fierce rivals. these fears have held back good rx's stock even as other digital growth names have come back with a vengeance. everybody is too scared of amazon i don't even think amazon is winning. the company keeps rolling out new initiatives. they partnered with doordash to
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offer discount subscriptions to their discount drug program to doordash's drivers so let's check in with doug hirsch to ask what is going forward? welcome to "mad money." >> good to see you again. >> doug, we'll cut to the chase on one thing and one thing very important. you have some unbelievable work that you've done about amazon. can we just take them off the table? it turns out people don't like to get prescriptions by mail you said they've never gained any ground and they haven't. >> exactly even in a pandemic, right? you'd think when all the retail stores were shut down they would have gone through the roof and didn't budge much and now it's retreating 5% of prescriptions are delivered by mail and it's just not growing because people like going to the pharmacy so i feel like we've been stuck in the loop where people think that good rx and amazon are in a battle when we're a marketplace and one of the great things is we have better prices and more choice, our prices are lower
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than amazon's pharmacy in mail 90% of the time that retail 100% of the time and use -- go to your favorite place, walgreens, riot rite aid and somehow they think amazon will win. >> i'm tired of people here saying that. another one, walmart okay, other than the insulin which was very good and have to ask if yours is the same price as theirs, they've chosen not to compete except in generic. >> walmart has been discounting individual prescriptions for a long time, before good rx existed and i think of them like doorbusters where you put something cheap in the front of the store but on an ongoing prices good rx will find you lower prices 80% of the time, 90% if you get a subscription fee so nothing will beat the marketplace because we work to give you the best prices at the
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place you want to go to. i'm not concerned about it and closer than ever with them because they all warrant to drive business and have 20 million people a month using our service and a million subscribers and never been faster, only adding new initiatives and online doctor visits and our own mail order service so i feel crazy confident and wish the market would understand better. >> next, one of the things that bothered me about two -- i'm not going to mention -- single names out, may have been the pharmacists itselves but two of the major chains was that they had it within their ability to know how much good rx was charging and yet they paid me the full freight which angered me to no end a third pharmacist i went to and there's three of these, right, told me, listen, go get the good rx coupon. it will save you thousands of dollars. i mean, the system should be sending people to good rx. >> well, funny enough it does. one of the greatest strengths we
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have is that doctors and pharmacies actually believe in goodrx because they want patients to take the drugs they prescribe and not leave the counter frustrated theirs first interaction is a pharmacist or doctor saying, you should use this because it could help and may be lower than your insurance because commercial insurance isn't what it used to be with goodrx we have a thousand less than $10. now you have over 30 thousand 240u pharmacies can you go to so i think it's important that people understand we're working with the business, we're working with the industry, doctors want this pharmacists want this and want people to take their meds and we want to support them. >> if people don't believe, go in, the web -- number one rated website for medical for the last three years, go download it. they have the prices you pay versus the prices you will pay someone dies every four minutes
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for not taking prescribed medicine, 20% to 30% of all prescriptions in the u.s. are not filled this has to do with price and not laziness. >> ask any pharmacist and they'll tell you when the person is standing at the counter and say it'll be 25 bucks which may sound low, they'll just leave it, forget it. i won't take it so people need tools and need information and then they need the ability just like they do in any other industry to say, i'm going to go here because i can get a better price here and use goodrx instead of my insurance. you have to be an active consumer and we give you tools to take control of your health care like you would with any other category you just haven't been able to do it because it's mysterious. >> smart and educated means vaccines how many millions have you been able to help convince that may not vaccinated that it's worth it >> yeah, i mean over 2 million people came to goodrx, signed up what we did is tracked inventory across the entire country, every
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single place doing vaccine appointments back when it was hard, more demand than supply and literally i woke up and someone will solve this. people want to get access to vacs and i'm proud of the work we did i think we had the bigger tracker of appointments and found people appointments, did a solid thing for people and this was saving lives stuff and what i wake up wanting to do every morning and my dream product ultimately healthy. >> goodrx and doordash partnered. we are all worried about the gig economy, people. we all feel to some degree they're being shafted and anybody freelancing in this country, 53 million people you say freelance, this is what they need, correct? >> yeah, i mean we're -- very often at our company we're responsive and people say, i have a pain point so help, we got all these dashers who can't afford their prescriptions and can't stay healthy
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we can help. we can find you savings and by the way just closed a deal with usaa with their members and focused on trying to not only serve american consumers but anybody who wants a healthy population. >> you can do it with a doctor because you have that service now. >> correct we got video doctor videos super cheap that start at 19 bucks then we can send a prescription right to your house like many other folks do but it's all in one box and comes at a reasonable price. >> when the company was private i will lead you with this about goodrx i said, you've got -- i hope this company goes public because it has saved me and my family thousands. i don't mind saying now that it's public. i don't understand the pricing of the stock i just don't but you know what, you heard about what we said about amazon, and that is ridiculous but it's probably the principal reason it's not rallied. doug, co-founder and co-ceo of goodrx, always good to see you.
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>> thank you, jim. look, i'm not telling you -- you got to do the work, start with the app if you like the app then you'll probably understand what the heck i'm talking about "mad money" is back after the break. >> announcer: coming up, buy, sell and look your best. >> that's why we have those shoppers. >> cramer checks in with the online store that does more, next this is cynthia suarez, cfo of go-go foodco.,
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price of 42, but it soared more than 140% jumping to 101 bad. since then the stock's come way, way down pulling back to 39 and change now it's below its offering price. could it be enticing at these levels these resale markets have been growing like weeds and poshmark has excellent numbers, 40% plus revenue growth in the latest quarter not to mention positive earnings before taxes, depreciation and amortization. 7 million active buyers, 5 million sellers many of whom are also content creator curating their own looks for their customers, yes, you can actually do so much cool stuff on this site this afternoon we got a chance to peek with poshmark's founder, chairman and ceo, manish chandra at the nasdaq stock he can change i thought it was fascinating take a look. mannish, i think the world is
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buzzing about the wardrobe and i keep hearing about poshmark. >> we are right in the middle of it we have millions of people who are using us to purge their closets, recycles and buy new things. >> recycle it doesn't end up in a landfill which millenial and all the gens are trying to stop. >> absolutely. we save millions and millions of clothes from going to the landfill and really finding not just homes but homes where people are excited to wear these things everything i'm wear something from poshmark and everything found a new life on my body. >> did you find it at a poshmark party? >> i did i did. we have amazing parties every evening where buyers and sellers come together in the virtual world, jim, but also in the physical world and just last month had our first physical event after almost two years, a small 30% gatherings of all vaccinated people which was just amazing to see our community back in action. >> what was it like?
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>> it was amazing. so our community is very special. people support each other, our sellers are not only sharing items from their own closets but they spend more than half their time sharing items from other people's closet so that promotion of each other was alive in the party people were missing each other, they were hugging each other there were tears of joy. they were connecting, sharing tips i learned so much about our community. >> people say, how can they go up against e-pop which is now owned by etsy. or realreal. this is a different model. >> we're a community-based model. loyal buyers and sellers that allow us to have long legs we created a simple partnership with our sellers, 20% we take, 80% they keep and that has allowed us to not change our commissions for almost ten years now, very different than most marketplaces which keep tacking fees ours is simple clean partnership and that's why sellers are loyal and so are shoppers. >> let's talk about sellers. my daughter, sometimes, dad, i
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don't 0 bother me, i'm selling things on poshmark as if it's a business but i think it is a business >> it is it is, people start by selling a few items out of their closet and then slowly discover their superpower which is selling merchandising the items they held my daughter helped some of my wife's friends sell their items then they start to discover that superpower and go sourcing, thrifting and then they start to create these closets people have seven-figure businesses. >> what? so they have people who literally started with their garage -- their closet and now are making a million dollars. >> a million dollar, yes we've got, someone who started, she was 18, first modeled a scarve from her mom and has a pretty large business on poshmark, actually employs people. >> growing economy and opportunistic and empowerment. i know you are empowering but i
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also discovered, this could be recently, you've taken a huge step for diversity and inclusion. there is literally every single sacred clothes from every single religious group nowavailable very -- not in direct listings that was conscious for diversity and inclusion. >> we started by sort of saying, okay, we got to be filtered when starting and my co-founder tracy looked at it but literally there were buyers and sellers from all different backgrounds so started to encourage that whole thing and recently launched something called style taxes that allow you to broaden that diversity into different directions and merchandise in different directions, even things we haven't conceptualized yet. >> let's talk numbers. as we get vaccinated are you getting more and more people is the trend line like this? >> well, we certainly are seeing real change in what people are buying so, for example, things like jean shorts, things -- which are basically used for
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going up up 80% to 100%. work dresses are starting to see an uptick, 30% plus and workout clothes are seeing a downtick as we move away from sweat set, we're in a way starting to get people ready think about a platform like ours, go out, meet, go to a wedding, that dress you're wearing is now recyc, we were sitting at home. so as people are going out it starts to get that -- what you call this big pandemic purge it's starting to happen. >> i understand there are people basically saying, i am sick of it i'm vaccinated i'm going out. i want to get rid of everything and start all new but all new meaning all new from poshmark. >> all new from poshmark it's really in a way a gigantic purge but your purge is value for someone else what you don't like i like what i like -- what i don't like, you like so there's this whole gigantic movement so much better than taking them and throwing them in landfills and at poshmark, what we do special
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we allow to you cure rate the items. so, for example, when you put an item for sale you're not like here's an item for sale. you clear a cover shot, you create a video your daughter created a video. >> for a purse because she couldn't show the inside. >> exactly so people get carried away and sort of create these beautiful things our platform people don't read reviews, they leave love notes you get a love note at the end of the process so it's much social and community oriented than you've ever seen. >> etsy, the ceo watches the show why can't you say, people, i want community, i want social, i want this duplicated isn't that a concern >> well, i mean i think if you build something great, people are going to replicate i love josh and have a lot of respect for him so absolutely. but at the end of the day fundamentally what we built is social and simple. for example, one of the things we created day one was posh post when you sell an item you get a
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shipping label, you don't worry about the size, the physicality, just ship it that simplicity requires a pretty big bet to make when you have everyone curating items not just from your closet but others, that's a big bet you make, all of these things are hard to shift a platform in this direction. you have to believe in it, live it and work it. >> i signed up i've got one -- i got like an hour free shipping you're offering great stuff so you might want to tell people if they sign up, it starts instantly. >> it starts instantly you start to build your community and shipping you are start to get sellers and really the great thing is sellers are building their community of shoppers and shoppers are that creates that stickiness that allows for those long cohorts to develop. >> if someone wants to get started toward building a million dollar business, what do you suggest? >> i would suggest starting to get great listings, great photos, share, follow people connect and build your own
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community and build your own dream on poshmark. >> manish, it is exciting. what you've done is remarkable that's manish chandra, founder and ceo of poshmark. thank you, sir. >> thanks for having me. >> announcer: coming up, economies re-opening the delta variant threatening. the covid recovery continues, and the doctor is in next
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just when we thought we finally beaten the pandemic, this new covid variant starts spreading like wildfire all over the world. we're in relatively good shape with high vaccination rates
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compared to the rest of the world. other countries are having a hard time. japan declared a state of emergency and banned spectators from the olympics just early morning. we can't take the recovery for granted. if you want to follow a pandemic you have to read everything from dr. eric topol at the very least follow him on twitter. he just published a piece in "the new york times" arguing that the fda needs to fully approve the pfizer and moderna vacs which are still being administered under emergency use authorization. frankly, that's craze ski. let's consult with him a fantastic card ol is founder and director of the scripps transnational science foundation and wrote a lot of good books. welcome back to "mad money." >> great to be with you again, jim. >> doc, there's some serious stuff we got to talk about and i want to start with the idea that this market went down very big because japan said no spectators you published a tweet just not that long ago about how in the
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uk this variant is bad give us the skinny on the delta variant. it sounds very bad to me >> well, it depends on your perspective. the cases in the uk are certainly going up and, yes, there's hospitalizations and deaths going up with them but nothing like what has occurred in previous ways there and on the other hand in israel where there's even higher levels of vaccination, perhaps even more potent vaccines because of only using pfizer and moderna but there the case rise and they're delta dominant like in the uk maybe not quite as long but doing very well, the case rise is small and essentially, you know, little beyond that so, you know, depending on your perspective but the places with the most vaccination are holding up well and places like indonesia, russia, south africa, bangladesh, many other places that have poor vaccination rates are experiencing the worst waves of the entire pandemic and
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that's a real problem. >> all right so let's talk about united states just now there was some news about how biogen might not get away with their $56 million so-called stopping of algdz which you and i know is not true got right through the fda. we have millions taking a vaccine that you just said worked very well under emergency use. doc, if this were just made into a regular approved vaccine, couldn't we go to employers and say, you can mandate it? >> exactly so here's amazing thing that you're getting at. hundreds of millions of people now have taken the mrna vaccines there's never been an emergency use authorization for a new vaccine in history and so the idea that you could approve an alzheimer's drug for anyone with alzheimer's with no
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data or evidence clinical to support it but not approve these vaccines for full use, not emergency use and then what we're getting at is once that occurs, the day that occurs, so many health systems, companies, municipalities, high schools, universities are just going to make this a requirement. so that's where we can get tens of millions of more people in this country vaccinated. which will give us so much more protection against the delta variant. >> so who in what is supposed to be a progressive fda is standing in our way so we might be able to maybe single them out and put a little pressure on them? >> well, we do need to put pressure, which is why i wrote that "the new york times" op-ed but there's no word, you know, there's not even any transparency about what's going on and we do know, i think this is important to underscore, these applications for a full approval didn't just appear
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suddenly in may. they actually were being serially given to fda for review because of this pandemic situation. so the fda has had seven months to do plant inspections, review of all the data, manufacturing and they haven't said a word about what's going on and that's not acceptable >> i can't believe they're not listening to you you have been such a great authority. okay, well, let's deal with another thing. we all have what i regard as anecdotal evidence of breakthrough case, nothing empirical and also hear that the breakthrough cases do not necessarily lead to deaths or hospitalization, a lot asymptomatic will it be empirical we find breakthrough cases are much bigger than we think and people who get sick, could they suffer longer term from a long-haul covid that we don't know about >> yeah, you had a couple of big questions, important ones there, we don't really know the story about long covid, you know,
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breakthrough infection, there's nothing known. we're hoping, of course, that it would be a non-issue but we just couldn't say at this point the breakthrough infections, you know, it's still early the people that are going to be prone are going to be more advanced age or have any kind of immunocompromise and certainly the delta variant is more of a challenge because it just published today in "nature" it really got into this immune evasiveness of this version of the virus. so, you know, breakthroughs, time to show up. so far this country has had an incredible track record for lack of any symptomatic breakthrough infections, you know, 99.5% of the deaths that have occurred have been in unvaccinated people so few of any serious infections severe illness has occurred in people vaccinated. but we're just now, jim, getting
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into the time when delta is dominant in this country and it is showing up big time, you know, in certain states like arkansas and missouri with poor vaccination rates. what that poses is people who have been vaccinated, they're not 100% so, you know, some percent are going to be exposed to those people getting -- spreading covid and we'll see more breakthrough infections and we'll see what happens >> doc, i understand that pfizer might be developing a vaccine booster. what are you hearing >> they just filed for an emergency authorization for the third booster dose, that's an application, that isn't approved by the fda the problem with it, jim, there's not sufficient data to warrant that we don't know whether people are going to need a booster because just because the antibody levels come down in the blood, people make b cells to make antibodies
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later and t cells so this might be necessary in people of advanced age or if they have immunoxhomsed conditions but still there are no data to support why need for a booster shot obviously it's in the interest of pfizer but it may not be in the interest of pose people. >> i sure hope people listen to you. i feel like it is downright selfish at this point to not take the vaccine what do you say, one last thing, what do you say to the people who are saying, i'm anti-vax and i don't want to take it, what do you say to them? >> well, this is the most impressive triumph of biomedicine in history and to not take advantage of it, not just for yourselves but for everyone that you connect with in your life is really extraordinary. i mean, to have this great progress and not take advantage of it, it's sad because disinformation out there is profound these are lies, these are made
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up fabricated stuff. the safety and efficacy of the vaccines are extraordinary, unprecedented and we should really take the benefits that they can reap for protecting us. >> well, doctor, thank you so much for coming on and your common sense as always, dr. eric topol of scripps research. great to see you, sir. thank you. >> thanks, jim >> yep, listen to this man i have followed -- i read all his books, i have followed him from the moment we were able to take -- get knowledge of him he's right "mad money" is back after the break. >> announcer: just chill out. >> chill master j. >> the chill man is in the house, he's happy. >> announcer: "the lightning round" is coming up when "mad money" returns that building you're trying to sell, - you should ten-x it. - ten-x it? ten-x is the world's largest online commercial real estate exchange.
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if i could, i'd ten-x everything. like a coffee run... don't just sell it. ten-x it.
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(sniffs feet) ohhhh yeah keep your feet fresh with gold bond foot powder.
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>> announcer: "lightning round" is sponsored by td ameritrade. it is time, it's time for "the lightning round." >> buy, buy, buy. >> sell, sell, sell. [ buzzer >> then "the lightning round" is over are you ready. miguel in new york miguel >> caller: hey, jim, first-time caller what happened with biogen. the data looks far better. >> people keep telling me that i got to tell you i'm intrigued because the data doesn't look that good. stick with it. it's real spec but stick with it mark in florida. >> caller: this is mark. thanks for all your encouragement, jim. >> i'm trying. what's going on? >> caller: my question about marion technologies san ramon, that ticker symbol gsah. >> well, that is, you know,
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frankly, that's a very important spac i don't know enough about so i can't comment i've got to do work on that particular spac because i do hear things that goldman is involved i believe with them let's go to peter in illinois. peter. >> caller: hi, this is peter's mom. peter has a question for you. >> okay, sure. no problem >> caller: the chinese auto ev company. i bought it at $34 it went up to 55 but now it crashed to 45 >> young man, listen to me we're done with chinese ipos i want to you sell it. sell half tomorrow and hope it goes up. i love your interest but i am very worried about china and so if i saw you in person i would say, hey, buddy, come on let's take a little off the table. sebastian in florida, sebastian. >> caller: how are you, jim cramer how are you doing?
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>> i'm good. how about you. >> caller: good, great ask you about the stock ecb. >> okay, this is churchill's -- this is like michael klein's thing. man, i know it sounds wrong i'm pumentsing on all this but he has five -- he has five spacs and i would be wrong to say here's what i would do with that spac i have to do more work i apologize. let's go to tad in north carolina tad. >> caller: boo-yah, dr. cramer >> oh, boo-yah how are you? >> caller: the ticker -- my stock is upstart ticker symbol -- >> i do not understand the short position in upstart. why don't the mean people, the ape sters go after that company? it is good artificial intelligence. would you please go after something good and that, ladies and gentlemen, is the conclusion of "the lightning round. [ buzzer ] >> announcer: "the lightning round" is sponsored by td ameritrade coming up, have zoom, will
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travel find out how a mobile workforce is changing the economy in ways you won't believe. next >> announcer: tomorrow, kick off the trading day with "squawk on the street." live from post 9 at the nyse >> jim, it's been a pleasure. >> it's been fantastic. >> yeah. >> yes, jimmy. >> teacher, i really liked this class today. >> i'm glad. >> apple tomorrow and a bagel. >> thank you. >> announcer: it all starts at 9:00 a.m. eastern. >> announcer: it's a brutal full contact sport. >> from the time there were some blows traders bracing for what could turn out to be a wild session. >> the last play of the game >> markets absolutely getting hammered today >> i know it's not easy but i promise to keep fighting for you. >> announcer: jim cramer leveling the playing field for
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all. >> the road is atough one but the payoff can be your greatest win of all >> announcer: join "mad money's" training camp weeknights oh. their award-winning content is tailored to fit your investing goals and interests. and it learns with you, so as you become smarter, so do its recommendations. so it's like my streaming service. well except now you're binge learning. see how you can become a smarter investor with a personalized education from td ameritrade. visit ♪
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♪ yesterday there was this fascinating story in "the wall street journal". in idaho they have plenty of available jobs but workers can't afford housing how could there be such a terrific place to work with nowhere for those workers to
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live simple when rich people untether from the office they don't go to places that have lots of spare housing capacity they go to far more exclusive locales that can't handle the onslaught. whenever i see a story like this i almost can't believe the built-in naivete considering many journalists to be cynical we know the pandemic has created a hybrid work environment. have zoom, will travel which means lots of wealthy people cannot live far away from where they work and pay any amount of money for a house in the country. certainly more than anyone can in the existing population this is playing out across virtually every town in america. the cities are emptying out and a hoard of rich people descended upon the country, something nobody could have seen coming. almost as if there is a rich rush, like the gold rush where people have lots of money flock to a particularly gorgeous area and very strange things start to happen because the local resort
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based economy and it is resort based can't handle the strain. you know what it reminds me of a trip we took, "mad money" to north dakota we wanted to see it firsthand. i made sure that we took a look at the mcdonald's in that area there was one in the town of willisston in the heart of the giant oil field where workers made $26 an hour because that was the only way they could afford to live in an area where the cost of living had skyrocketed. that mcdonald's could have chosen to shut down rather than pay higher wages but there was too much business to justify going out of business. however, it wasn't like that originally when this shale boom began they couldn't find any workers. whenever you hear a company say that, you know what it's code for, we won't pay people enough to work here that mcdonald's there showed me how to deal with a labor shortage created by a booming economy, offer enough money and you'll find plenty of workers.
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that's the solution and it's going to have to happen in places like ketchum, idaho. it is bringing demand for services the wealthy can't live without. if you want a piece of that you have to pay workers more because the cost of living is soaring. that's an unintentional consequence of remote work they can live in places where they used to vacation and now we're in the toughest moment, the moment i serve when i talk to business owners in the bakken there was an oil boom that went bust, not that long before this one. so all the businesses that expanded ended up getting crushed. i think we're seeing this wrenching story because business owners are afraid to invest in expansion only to find their new patrons have been called back to the office if the hybrid workplace goes away, that could end up like the bakken shale region where former boom towns are now fighting ghost town status but i know how
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this plays out slowly but surely businesses in towns will realize untethered white collar workers and ever improving zoom economy have created a permanent mismatch that's worth catering to if they don't provide them someone will solve the labor problem by doing what, paying people a lot more like that mcdonald's in north dakota where people made $26 an hour. the most beautiful parts of the country have to come to grips with the notion that the hybrid workplace is really here to stay and if they want to make money off their new rich neighbors, they're going to have to raise wages. when it comes to business, this problem will ultimately take care of itself i am more worried about the public policy side people work for local government, police, fire, teachers, they could be driven out if they don't get the raises they need but as for ketchum and all the other vacation spots with lots of vacationers, there is a simple solution as president biden has whispered, pay them more.
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just like in willis ton, north dakota, pay more or someone else will do it and make outstanding profits in the process pay them more. i like to say there's always a bull market somewhere and i promise to find it just for you on "mad money. i'm jim cramer see you tomorrow "the news with shepard smith" starts now the boosters are coming. pfizer, set to ask the fda for the green light, citing the threat of covid variants i'm shepard smith. this is "the news on cnbc. delta fueling a rise in covid cases. >> we are starting to see some new and concerning trends. >> where cluster are emerging and what we just learned about the new variant and the vaccines president biden defending the draw down of troops even as the taliban makes gains. >> do i trust the taliban, no, bu


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