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tv   Cavuto Coast to Coast  FOX Business  March 19, 2021 12:00pm-2:00pm EDT

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stairs to air force one, dusted himself off, continued on up. he's on his way to atlanta. i do want to point out that president trump always worried about those steps because they are, indeed, very steep. trump was worried and that just happened right there. time's up for me but look who's in now today for neil, the one and only ashley webster. [laughter] ash, it's yours. ashley: only one for a reason. thank you very much, stu varney. by the way, let's take the show on the road to uc-berkeley. amall my coast is nice, but we get an interesting audience. welcome to "cavuto coast to coast," i'm ashley webster in today for neil cavuto. markets look to close out the week in the red. the cdc, meantime, about to address its new recommendations to downsize the distance between students in the classroom. does it go far enough to get all the children back to class. then, to the growing battle over
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the keystone pipeline. we will talk to arkansas attorney general leslie rutledge about why she is joining forces with other state a.g.s to get the pipeline memory permit reinstated. and as the federal government eyes potential locations for shelters at the border, we will talk with one border sheriff who is seeing firsthand the pressure the migrant surge is putting on our country. so much to discuss. but first, the back to school push goes on. blake burman live from the white house with the very latest on this updated cdc guidance. blake. >> reporter: new guidance is a pretty big deal especially for those cools and school districts that said they couldn't reopen because of the 6 foot guidance of making sure students stayed at least 6 feet apart from each other. now, by and large, that guidance has been changed to 3 feet. and let me just sort of walk you through age group by age group the new guidelines from the cdc. for elementary school students, they can be 3 feet apart,
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wearing masks regardless of what the community transmission rates are in and around that elementary school area. for middle and high school students, again, 3 feet aapart with masks so long as the cdc says community transmission in that area is either low, moderate or substantial. however, for middle and high school students they say who live in areas in which the transmission rate still is high and in which pods are not an option meaning that the same classes can't stay with each other throughout the day, week after week, month after month, that's when they say there should still be 6 feet apart among studentsing of course, wearing masks. here's what dr. walensky said, quote: these updated recommendations provide the evidence-based road map to help schools open safely and remain open for in-person instruction. of course, ashley, when you talk about schools, it's not just about the students in the schools. there are teachers and school staff as well, as we all know.
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the cdc guidance says for those adults, they should remain 6 feet apart from each other wearing masks, of course, but also 6 feet apart from the students in school as well. bottom line, elementary schools, 3 feet apart. by is and large -- by is and large, in most cases for middle and high school students they say 3 feet apart wearing masks as well. ashley? ashley: well, it is a development. blake, thank you very much. and the new cdc survey is suggesting remote schooling strains parents and their children. i don't think there's any surprise. we all know that. joining me now is former hhs secretary dr. tom price. doctor, great to have you aboard. >> thanks, ashley. good to be with you. ashley: we are -- thank you. we are at a crucial point in returning children to school full time. >> yes. ashley: do the benefits -- i would say, yes, but do the benefits outweigh the are risks? >> there's no doubt about it. finally, we're getting the cdc and others to catch up to where
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we've been in many areas across the country, especially in private or parochial schools where they've been in class, often times with no physical distancing, but wearings masks, making certain that they're careful along that line. but the transmission rate between, among students especially in elementary school is significantly low. and so there really isn't a significant increase for those vims. the risk, as you mentioned, is between staff, among staff. so the staff needs to continue wearing masks and, obviously, physical distancing. but this is a good recommendation, this is a step in the right direction and, hopefully, we'll be able to get all students across the country back to school regardless of where they attend. ashley: but, doctor, it's hard to do when teachers unions are still holding out saying they don't feel comfortable. what would you say to the teachers who still say i believe i'm at risk or at least i'm at risk and the children are too? >> well, i think it's important as they always say to follow the
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science. and the science, again, with all of this data, with all of this information now clearly recommends that there is no reason why you can't have full classrooms, especially in elementary school, and in middle and high school when there's not a significant incidence of transmission of the disease within the community. full classrooms and full ability to be able to teach students. this is incredibly important because the consequences of not being in school, in the classroom are severe for kids. we're seeing ap increase in depression, an increase in mental health challenges, an increase in suicides in high school students, an increase in just mental health or behavioral health challenges throughout age groups in kids. so getting back in class, getting back into school is incredibly important for all students of any age. ashley: yeah. the sooner the better. and i wanted to just get your comments on this, nearly a dozen countries are resuming
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astrazeneca vaccine shots today. e.u. regulators say, look, it's safe. first in line, u.k. prime minister boris johnson who, as we know, survived a serious bout of covid last year, and he is expected to receive his first dose of astrazeneca. dr. price, could this hold up approval here, and are we on track anyway without it? >> well, we are on track without it, as you noted, by increasing the number of vaccines being able to be administered in this country. but this is good news about astrazeneca. i would tell folks that the challenge that they've had is not necessarily unexpected. there was an incidence of blood clots and bloodies orders in some -- blood disorders in some individuals that received the injection. some nations stopped or delayed the continue administration of astrazeneca vaccine, some kid not. the e.u. yesterday or the day before came out and said that it
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was all right to proceed noting that the incidence of the blood clot, the blood disorder that occurred with the astrazeneca with the temporal relationship to the vaccine administration was actually lower than in the general population that had not received the vaccine. so i think it's important for folks to understand these are safe, these refective, and it's important to proceed, and i'm pleased to see prime minister johnson going ahead and getting his astrazeneca vaccine so that he could demonstrate to the entire nation and to the world that it's safe to proceed. ashley: safe. very good. we'll have to leave it there. dr. tom price, thank you so much, doctor, for spending some time with us today. we do appreciate it. thank you. okay. so what could slow down the growth of the u.s. economy? because along with vaccine issues, europe is still struggling with its lockdowns and a very slow economic comeback. but economists are rah raising growth projections for the u.s. including the fed as americans increase spending on flights,
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more people are flying, more using hotels, they're going out, dining out especially in those states that are a lot more open. let's get to former investment banker carol roth and kaltbaum management's gary kaltbaum. two superstars. carol can, let me begin with you. why is the u.s., do you think, pulling out ahead of europe right now? what are we doing right? >> so, ashley, it is one word, and it rhymes with capitalism. the problem concern. [laughter] -- the problem the european union has is they have embraced central planning and a welfare state, so they don't have people who are fighting to get back to work, to get things back to normal, for freedom and individual rights. if you look what's going on here in the u.s. particularly in states like texas and florida that have said enough's enough, florida's unemployment rate has a door handle on it now. so when you have a recession like we had that was due to not
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a systemic issue, but with literally shutting down business, the way that you stimulate isn't through stimulus and monetary policy, it's through opening businesses up, and it's through capitalism. ashley: good point. gary, let me bring you in. so with, you know, the doors open, we're ready to get going in this country, how much of a threat does the biden administration's tax hikes threaten that growth that we could experience? >> oh, do you have a couple of hours, my friend? [laughter] you know, i keep, just so you know, when we had the democratic debate, i still keep a list of all the tax hike proposals from all the candidates. it takes up two pages. leave no doubt a corporate tax hike has corporations in the boardrooms thinking about what they need to do as far as less investment and maybe less hiring. the marginal tax rate going up
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for people making 200,000 a year markedly, not good. by the way, to be split by employer/employee. and god forbid you are a successful self-employed making $200,000 plus, you're going to be getting an extra 12.4% tax on top. so not good. worst possible time, just coming out of pandemic. if they wanted to do this, how about waiting a year and let are us get our footing back right now which is really starting to happen in a big way. and, you know, carol says it best, open up, capitalism. leave us the heck alone and let us do our thing and watch what happens. and, by the way, they do all this because they want more revenues? they're going to get less revenues with a slower economy. ashley: that's exactly right. basic economics 101. carol, have to let you jump in on this, this is something you have been talking about. and, let's face it, more u.s. households are going to be tax
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thed mr. biden would like us to believe, correct? >> yes, it's true. and the weird thing, you know, i always say it's going to be about the rich, but it isn't. it's actually going to be about the middle class, and i'm most worried about the small business owners and the unskilled workers. when you think of things like what has happened over the last year, there is no risk premium for you to want to open and continue on with a small business. the government could potentially shut you down on top of every other thing you have to contend with. and then they're talking about minimum wage, they're talking about the pro act. these are things that are going to keep unskilled workers from getting into the work force and getting that first job. and so i'm really worried about the bifurcation in the economy that this is going to cause. yes, maybe the rich pay a little bit more, the middle class is going to bear a really big burden, but the biggest burden is going to be on the most vulnerable, and that is never a good thing overall. ashley: yeah. and, gary, quickly, i mean, look, everything's in place to
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take off, as they say, like a rocket ship. it is there. just think where we were before covid hit, you know, 50-year low unemployment, the economy humming on all cylinders. can we get back there and how quickly? >> we're on our way. look, i'm in florida. we are rolling here, my friend. we are wide open up. but people are respectful of the virus still with socially distancing and masks, so that's still going on for the most part. i hear spring break is a little bit different for some young uns, but, look, we open up and it's going to get going. i just have to add one thing, this tax hike proposal will affect the wealthy, but do you know who it affects the most? people wanting to become wealthy. imagine as you move up in life, you work your tail off to be successful, and you start making some serious coin, and as you go up in life you don't get rewarded, you get penalized with more taxes. makes absolutely no sensement --
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no sense. ashley: yep. how dare you be successful, we're going to tax you. all right, guys, don't go anywhere because we're going to bring you back for a discussion on today's market decline. you are superstars, you will be back. extra bit in the paycheck for you this week. all right, tease, 21 states now suing the biden administration over its rejection of the keystone pipeline. arkansas attorney general will be joining that lawsuit and, guess what? she's here next to explain. don't go away. ♪ you say stop and i say go, go, go. ♪ oh, no. ♪ you say good-bye and i say hello ♪♪
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lawsuit? are you saying, essentially, that the president has far overreached in making this decision, that perhaps congress should make this kind of move? >> that's exactly what we're saying. president biden overreached by canceling the keystone pipeline permit and essentially canceling arkansas and american jobs along with it. this is a dangerous act that president biden has done. it will not only cancel those jobs, but it will increase the cost of fuel for all of americans. that's why these states led by and texas have joined this lawsuit, that's why i'm part of this lawsuit, to protect the people of arkansas and across america so we don't have an increased cost in fuel and other necessities. stuart: i know you've spoken out to some of these people directly affected in arkansas. how has this awe affected their lives? >> well, it's taken away their income. it's as if joe biden reached
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into their pocket and took the out their good, hard working, six-figure salaries. some of these folks are making good money, and they spend it in their community. the communities where they spend that money are without those incomes whether it's a restaurant, the school district, all of these communities are impacted. i've spoken to a number of pipeliners, i met with them in person in south arkansas, and these are real lives that are impacted by joe biden's decision. and i don't know whether he and john kerry came up with this plan to fly around on john kerry's carbon-emitting jet, but it's dangerous to americans, and it's environmentally unsound. that's the crazy part about it. this liberal policy actually is more dangerous for the environment are. ashley: yeah. another case of hypocrisy. but i won't go down that road. i wanted to change gears, if i can, attorney general, and talk to you about this. you also signed a letter to treasury secretary janet yellen this week objecting to limits on
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using stimulus money to pay for tax cuts to essentially offset the loss of revenue from the cuts. we did speak with ohio a.g. dave yost yesterday about a lawsuit that he's filing on this issue. take a listen and then i'm going to follow up with you. >> ought to be able to decide what they want to do. the federal government is trying to dominate this and dictate the outcome of that discussion in every state of the union. and that's unconstitutional. ashley: well, it seems to me it's like another case of overreach, just a different subject. would you agree? >> it absolutely is overreach, and that's -- states are the ones to set tax policy. we certainly don't want the federal government under this administration setting tax policy for americans. and that's why ohio went ahead and jumped out there and filed suit. i'm sure arkansas, we're getting ready to be right behind because this doesn't just impact people in that state the, it impacts
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all of americans and particular my home state of arkansas. we should be able to use those funds to give tax relief to low and middle income families, perhaps to use it for lowering the tax rate on used cars because we want our people to be able to get to and from work and take their kids safely to school. if we can't use those stimulus funds to be able to take care of our people at home, what good are they? that's why we're looking at this from the question of whether or not the federal government can stranglehold us and put a thumb on us being able to take that money. and here in arkansas we want to use that money for the good of arkansas kansans. ashley: states like illinois and the city of chicago, they may use this to start a universal basic income program and, apparently, that is okay. >> that is frightening. i think what we want to do is to boost the economy. that's what those funds are designed for, to boost the economy, to get people to work, to give americans hope to know
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that the government is there for safety and security and that these funds are used to give them -- to get them energized and keep their children safe. it's not designed to take people off the payrolls and out of the economy. so we want to, again, states need and must be able to set tax policy for their states. but unfortunately and that's not what is happening here, that's why i joined that letter to treasury secretary yellen to say this is what we want to do here in arkansas, this is what we must be able to do in arkansas. ashley: very good. we'll have to leave it there. arkansas attorney general leslie rutledge, thank you so much for chatting with us today. we appreciate it. >> thank you. ashley: all right. coming up, an exclusive look at the southern border. griff jenkins will have a behind the scenes look at the migrant crisis when we come back. ♪ ♪ ♪ ♪ (upbeat music)
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♪ ashley: and now to the worsening migrant crisis. the secretary of homeland security will be visiting the border today as the feds continue to restrict media access. but ohio senator rob portman letting fox news tour the border with him. griff jenkins joined him for a ride-along last night and joins us now with what he saw. griff. >> reporter: good afternoon. look, what he saw was what happened here in sunland park, mexico, right outside el paso. this is a heavy traffic area, and haas night was no exception. if i can bring you down the fenceline, you can see in the distance a couple of border patrol agents sitting watch here. there were some 25 single adult males mostly, they were runners, they wanted to evade border patrol, but they did get them while we were with portman who
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was out with the national border patrol council. we talked with portman afterwards, here's some of what he said. listen to this. >> we also talked to some of the people who they apprehended, and they all told me the same thing which is they can make a lot more money here in this country than they can back home. that's understandable. but we have a legal system to be able to do that. that increase is something we've got to deal with. we've got to change some of the rules, but also we've got to help the border patrol to do their job. >> reporter: and riding along with portman gave us an opportunity to talk to migrants, something that dhs has been blocking access for for the ride-alongs officially with the border patrol. here's what one of the migrants said about whether or not he's heeding the white house message not to cop. watch this. do you think more will come under the new administration? >> not going to stop. ever. not going to stop. [laughter] it's not going to stop. >> reporter: now everyone's
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wondering because we know that dhs secretary alejandro mayorkas was making a surprise visit here. will he appear publicly, will he make remarks, only time will tell. we're not getting a firm answer or statement from dhs on that. meanwhile, the number of apprehensions in this sector alone, 635 in the last 24 hours. back to you. ashley: yeah. and continuing to grow. all right, griff, thank you very much. fascinating stuff. let's get reaction now from a sheriff who is seeing firsthand what this border crisis means for our country. and, of course, for the people who are trying to cross over. it's a humanitarian crisis as well. clint mcdonald is also executive director of the texas southwestern border sheriffs' coalition. sheriff, look, you're on the ground, you're seeing this crisis evolve. what are you seeing from your point of view? >> well, we're seeing border-wide from san diego, california, to brownsville, texas, the increase in the
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population coming across our border. and our border sheriffs are not immigration officers. they are, their charge is to take care of the people who elected them to office in each one of their counties and each one of their states. so we're seeing that the increase in the high-speed chases, vehicle chases, we've had a fatality -- we had eight fatalities in one crash in del rio e, texas, last week. we're just seeing the overrun. and that is what our primary goal is right now. we had one county that one individual was left, he set a house on fire so he could be picked up. so all of this is a economic and a problem to our counties -- [inaudible] ashley: yeah. what kind of threat does this pose to the population in the united states that happen to live near the border?
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you mentioned high-speed chases and other incidents. there are also migrants that are testing positive for covid. i mean, this is a significant safety issue, is it not in -- is it not? >> well, of course it is. anytime that you have this policy of catch and release, and this administration's not the first administration that's ever used catch and release. it's just the numbers are so, so staggering right now that the testing for covid -- i was on a call with the sector here, and they're talking about aliens being sent from the valley to el paso by commercial flights, and they don't know if these people have been tested or not. so they're coming through the airports. ashley: wow. could you contrast it to how it was under president trump? because he took a totally different approach, was very tough keeping those seeking asylum to stay in mexico or
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apply in other countries. all of that's gone by the way. it feels like the word is out now, hey, if you go for the border now, you can get across a lot easier. how does it compare mow as to what it was under -- now as to what it was under president trump. >> well, you have two very contrasting administrations, and we hope that this administration will grasp what's going on and get control of the situation. and we're not saying that one administration is better than the other administration. i have a very diverse group of sheriffs, is so we're hopeful that this will get taken care of soon. ashley: well, very quickly, i mentioned a humanitarian crisis especially among una accompanied miners, children. they're coming alone and now being left in limbo. this really is a humanitarian crisis, and i feel like it's
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only going to get worse. what say you? >> oh, absolutely. these children are our main concern. our sheriffs are not immigration, but anytime you have a child out in the middle of nowhere by themselves or just one or two of them together, that is a grave concern for our sheriffs. ashley: it really is. all right, we'll have to leave it there. sheriff clint mcdonald, thank you so much for taking time out to chat with us about the surge in migrants. we do appreciate it, thank you. >> thank you, ashley. take care. ashley: you too. coming up, as march madness gets underway, how small businesses are -- well, sorry for the pun -- seeing a nice rebound in customers from the games. the story up next. ♪ ♪ a i've got the magic in me. ♪ every time i touch that track it turns into gold. ♪ everybody knows i've got the r magic in me. ♪
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♪ ashley: well, welcome back. we see the financial stocks dragging on the markets today the, lots of red after the federal reserve says banks will no longer get a break on the amount of capital they have to mountain. let's bring -- maintain. let's bring back carol and gary kaltbaum for more on this. and i don't want to disappear in the weeds on this issue debating supplementary leverage ratios, slrs. so, carol, i only said that because it was on the prompter. i have no idea what that is. [laughter] so, carol, this is a bug deal and why? -- big deal and why? >> so, again, without trying to get in the weeds, it's really a communication issue, that's the biggest issue. the concern is that there were these lax requirements during the pandemic that were set to expire at the end of march. and everybody thought, okay, well, they're going to extend it, but the fed now, on the 19th of march, lets everybody know that the concern is the banks
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who may not be well capitalized would have to sell treasuries, that increases the yield. so, again, i think it comes down to this communication issue. every time the fed says something, the market goes haywire because they don't do a good job of effectively communicating it. if they knew they were going to let it expire, give everybody some time todigest it, don't jump into the market 11 or 12 days before the end of the month. ashley: yeah. it's interesting, isn't it, gary, 11 days' notice. on the other hand, could you argue that this is a sign that things are starting to stabilize, although these things were put in place to take the volatility out of the market. but having said that, if the fed if thinks no longer needed, could you argue that that's a good sign, that things are on the up? >> the fed's letting it expire means maybe they feel better about things. but we saw powell this week say we're keeping rates at zero, and we're going to print $125 billion a month along with his
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ecb counterpart, the same. so i still think they're going to be easing money. the big thing with banks, they've had this big run because keeping rates at zero, watching yields rise to 1.75 on the 10-year, that increases their margin which increases their profits which perception on the stock the market is prices are going up. and that's why you seen the banks, and especially the regionals, soar bigtime over the last few months. ashley: gary, to follow up, are savers those people who take the money and put it in the bank and have gotten absolutely nothing for it, are they finally going to see some reward for their savings? >> no. we're still at zero. and the good news is at least we're not europe where if you deposit money in the bank, you have to give them a toaster -- [laughter] so, look, i think it's a sin. i think it's a shame. i cannot believe more people
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aren't yelling and screaming about this because all they're doing is handing money over to the banks and lenders that should be going to the citizenry. but seems nobody cares right now. ashley: i know gary is not a huge fed fan, at least not the policy right now. carol, do you agree with gary? has this gone on far too much -- far too long and for far too much? >> you know, ashley, i always like to argue with people, but gary makes too much sense here. i mean, absolutely. [laughter] this has been a wholesale selling out of main street to wall street. and, in fact, in order to find any yield you have people retiring, people who are trying to retire chasing risky assets. and those as9 sets like junk bonds -- assets like junk bonds have yields that are so low that don't properly compensate you for the risk you're taking. it's way past time to normalize, but if they feel that things are getting back on a solid footing
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and with all of this extra stimulus that they're throwing in here, i hope that rates will start to move up because that is normalization. that's where it should be. and to get things back to normalization and free markets and stop interference in the market is incredibly important for our country. ashley: yeah. so many are addicted to that punch bowl of cheap money washing around. it's hard to get off of that. anyway, it's going to come at some point. gary, carol, thank you so much for joining us and coming back again for your thoughts. we do appreciate it. all right, to college basketball. the basketball world is descending on indianapolis, indy, bringing a big boost to small buzzes in the area. they are -- businesses in the area. and restaurant owners in particular are hoping this will be the start of a comeback. grady trimble live in indianapolis with more. grady. >> reporter: ash, i think we're seeing it here and now at this restaurant, the district tap, just feet away from the
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pacers' arena. it's been a long time since i've been in a bar this crowded as the first game in march madness tipped off just about 30 minutes ago. michael is the owner here, and you're really hoping this is the start of a comeback for you and all the restaurants here in indy. >> absolutely. this is what we did it for. we opened up this, our second district tap location, in september of 2019. you open up for sports, for conventions, for office populations, and six months after we opened up, everything was shut down. it was exactly this time last year when we were preparing for this moment. and it all got taken away from us. well, one year later here we are. this is why we built, this is why we've done what we've done. >> reporter: and indianapolis is unique this year, because they are the only host city. you have fans coming from around the country to watch these games what's that going to do for you guys here? >> i don't think anything has been organized, an event like this, anywhere in the country.
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this is our super bowl for four weeks. so, you know, it just means so much. it's great for our city. and going forward hosting events like this is only going to put indianapolis further in the spotlight. >> reporter: and, ashley, one other thing we're looking at is that reduced whatsty at the venues -- capacity at the venues, and because of that ticket prices are going up because not as many fans. i just checked the iowa game tomorrow night, one of the cheapest tickets you can get in the 300 section, $500. so i think a lot of people who can't afford those tickets are going to be packing the restaurants and bars this weekend. by the way, it's 12:45 on a friday, not even the weekend yet, so these people are already off to a rip-roaring start here to support the restaurants and bars in the area. ash? ashley: they seem very happy, let's put it that way. all right, grady trimble, thank you very much, from indianapolis where the local businesses are getting a boost. that's good news. by the way, we have an
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update on that stumble that president biden took we showed you earlier, he actually stumbled three times as he was heading up the steep stairs to get on air force one. the white house says he is doing just fine. good news as he heads to georgia to visit the cdc, but it's not easy to watch, it's painful and, gosh, he could have come all the way down the stauers, but he's doing just -- the stairs, but he's doing just fine. still ahead, day two of u.s./china talks, and there was a lot of tough talk, but will the biden administration follow through? was it all just words? the very latest after the break. ♪ ♪ -- or you'll sink like a storm. ♪ for the times, they are a-changing ♪♪
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♪ >> china is firmly opposed to u.s. interference in china's internal affairs. we have expressed our staunch opposition to such interference, and we will take firm actions in response. >> we do not see conflict, but we welcome stiff competition, and we will always stand up for our principles, for our people and for our friends.
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ashley: well, off to a rocky start, you could say, laying down their markers on each side. the second day of meetings begins today in alaska as the united states and top chinese officials squared off during that initial meeting yesterday. rich edson is live from the state department with the very latest on all of the sparring. rich? >> reporter: good afternoon, ashley. and those final rounds of meetings between u.s. and chinese officials are scheduled to start in just about ten minutes now. as you saw there, the opening remarks didn't go so well last evening. there was supposed to be a brief exchange between the top diplomats, and instead it turned into a tense hour-long session with accusations going around both sides. the chinese delegation accusing the u.s. officials of con condescending tone, and secretary of state antony blinken chiding the chinese government for repression against the uighur minority, assault on democrat in taiwan and hong kong, cyber attacks on the united states and economic
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coercion towards american allies. >> each of these actions threaten the rules-based order that maintains global stability. that's why they're not merely internal matters and why we feel an obligation to raise these issues here today. >> reporter: china's foreign if affairs chief then launched into a 16-minute speech condemning the u.s., knocking this country's record on human rights, specifically citing the black lives matter movement and police brutality. blinken responded the u.s. acknowledges its mistakes and imperfections and throughout history has confronted its challenges openly. ahead of these meetings the u.s. also sanctioned two dozen chinese government officials for the erosion of democracy in hong kong. the chinese delegation said there that was no way for the to welcome its guests. so of after these unsuccessful pleasantries last evening, the two delegations met for several hours into the evening. next session is beginning now.
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president biden said he was proud of his secretary of state for the remarks he made last evening. the white house says the president is still waiting to see how the rest of these talks go before deciding on next stepses. ashley, back to you. ashley: all right. very interesting. rich edson at the white house, thank you very much. so the question is, will the tough words turn into tough actions, or is it all just bluster? gordon chang, author of "the coming plans of china" joins us now. great to see you, gordon. let's begin there, where does it go from here? is it all just tough talk or is it more of the same? >> i'm really concerned, ash, and the reason is just a few hours ago the chinese foreign minister talked about a, quote, strong smell of gun powder. now, that could very well be bluffing, but we do know that the chinese regime is whipping up the chinese people. and this creates a dynamic which means that any incident can spiral out of control.
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we've got to be very concerned. and i hope that secretary blinken actually warns the chinese, because deterrence right now is failing. ashley: so why is china taking this very aggressive stance? is it in the wake of donald trump? do they think that joe biden and his administration are weaker, and they're going to try and take advantage? >> we can only guess, but we do know that the chinese elite does not respect joe biden. they've been talking openly in public about how they own him because of hunter biden, because of the wall street connection. and so, you know, they don't look at biden the same way they looked at trump. one thing about president trump, i it unnerved the chinese. not because he was taking actions against them, but because he was unpredictable. and they don't think that about biden. also chinese foreign policy is always tightly connected to problems at the top of the chinese regime. so this could mean that something's really going wrong in beijing right now.
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ashley: so what's your biggest concern? what's the most provocative move that china could make right now >> they could probably -- and they do this all the time anyway, but they could intercept our planes or ships. the chinese have been getting very close in physical proximity. somebody could miscalculate, and we could see another incident like the plane incident in april 2001. and if they kill american service people, that creates a whole set of situations that you just can't walk back. so that's my biggest concern at the moment. ashley: but nothing else is going to change. we can lecture them all about, you know, until we're blue in the face about human rights violations, we can talk about taiwan, we can talk about the south china sea, it goes on and on. the chinese are not going to change. so what can the u.s. do to prevent this from escalating? >> i think the most important
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thing is that the president of the united states in public and in private tells the chinese that we will defend our friends and allies in the region including taiwan. chinese voices at the top of the regime have talked openly and in public about annexing taiwan within five years. that sets a marker for them with the chinese people. as i mentioned, they're whipping up public sentiment. i think that we need to say in no uncertain terms that the u.s. will defend our allies. if we do that, we can maintain peace. if we don't do that, i think the balance of probability is there will be some sort of conflict, perhaps a large war. ashley: very quickly, then china accusing, you know, bringing up police brutality on the behalf of the u.s. that's really hypocritical if there ever was. >> yes. because china incited violence on american streets last year and this year. that's more than subversion,
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that's an act of war. ashley: all right. words of warning from gordon chang. gordon, thank you so much for joining us today, we do appreciate it. thank you. coming up, tax tensions growing in washington. coming up next, how the white house is responding to questions over who should expect to see their taxes go up. ♪ ♪ -- the rivers and the lakes that you're used to. ♪ i know that you're gonna have it your way or nothing at all -- ♪ but i think you're moving too fast ♪♪ lately, it's been hard to think about the future. but thinking about the future, is human nature. ♪♪ at edward jones, our 19,000 financial advisors listen and work with you to create personalized investment strategies to help you get back to drafting dreams and building your future.
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only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪ welcome to cavuto coast-to-coast. financial stocks dragging on the dow, the s&p slightly higher, the nasdaq doing better up one%, 131 points but those banks need to hold the next row layer of loss absorbing capital beginning april 1st, and that is no joke. spring breakers in florida partying through the pandemic. we've seen the video, the pent up rowdiness forcing south
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florida city to increase police presence. i will speak to the mayor of miami. the new homeland security chief heading to the southwest border with the migrant surge showing no sign of slowing down. a live report coming up. lots to discuss. another top story. the white house facing a new barrage of questions about who should expect to see a tax hike and when. blake berman following this story and has the latest. >> reporter: the president following to georgia, a briefing aboard air force one and the question was as follows, the president, as we know, nobody in the country would pay more to uncle sam under the new biden tax plan but the white house has pivoted to say that would relate to families.
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the white house aboard air force one was asked what might you do for the individual tax thresholds. will it remain at 400,000 or could there be something else? the white house saying they have to see what develops but it is still early in the process. >> anyone below 400,000 thresholds will not see a tax increase but it is a little early, we are working through the process. >> reporter: boarding to the audio that was the press secretary aboard air force one. before the president got aboard air force one there was a little bit of a scene at andrews air force base, if we have that video that would be fantastic to show you, not to poke fun at all of the president, president biden walking up aboard air force one, a few different stumbles there. the white house, most important lee saying the president is
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fine, it was windy, very windy day in washington and that was part of the reason for the fall but the president is fine and now he is on his way to georgia along with the vice president for several events. back to you. ashley: thank goodness for that, difficult to watch. he could have ended up coming down those steps. >> reporter: very steep, hard to get up, the president is doing fine. ashley: let's get back to this tax issue. how would a tax hike for individuals or corporations impact economic growth? that is the question. our panel of economic all-stars are here to discuss, wealth management ceo rebecca, global economic senator john hilsenrath and brandywine global portfolio manager jack mcintyre. let me begin with rebecca.
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this issue of the individual tax hike. we don't know what it is. it is kind of not clear at all. may be the family threshold of 400,000 and above will get taxed. we are not told what it will be for the individual but what impact does that have overall? it still doesn't go that far as opposed to someone living in nebraska. >> absolutely absolutely. we know tax policy at the federal level impacts people differently. 400,000 might seem like a lot to a southerner but if you live in an urban area like chicago or california where you have 13.3% tax rate, at that level of income, anytime you have tax policy increase it would always be economic retraction and it is a little surprising, they have both sides of the house
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and senate, and in this global pandemic. they would be talking tax hikes right now. ashley: just emerging trying to get the economy open to a sustainable level and we could be hit with individual or corporations, the timing is terrible. >> it certainly a little unusual. in terms of 2021, i think the economic outlook is baked in the cake and so much money is on the sidelines because of rebates that just went out, households are flush with cash, pay down debt last year, saving was at record levels, we are primed for a boom this summer. the question, going to affect the long run growth rate is a
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lot will depend on what happens on the corporate level. in terms of the high end rate, the high end rate going from 35 to 40% sincerely 1990s. big moves on high end taxes happen in the 60s with kennedy and in the 80s with reagan. there haven't been really big changes since then and i doubt there will be big changes now. ashley: that is probably true. jack, i want to carry on with the corporate side of this, going from 21 to 28%. that would force companies to perhaps cut corners more, be less reliant, less likely to hire people. they could turn around and reduce dividends. this is far more ranging than putting it to the fatcat corporations that can't have a significant ripple effect.
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>> i agree. what seems on the surface point simple solution had bigger negative impacts. remember, you see companies, large corporations, small businesses, the cost of doing businesses increasing, the input costs are rising, what we are seeing now is to pass on but if they can't pass on those higher prices the margins will get squeezed and later on, higher taxes and negative consequences. you will see the pe multiples for public companies get adjusted lower so it is not going to be good for the equity market. ashley: back to rebecca. these are just proposals. they haven't gone through. might be a struggle to get through to become law. that is for sure. if it doesn't happen and we carry on as we are for now how quickly could we get close to
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where we were under donald trump prior to the covid outbreak? >> that is not going to happen in my opinion because this administration is just not donald trump's administration and they are economically on energy and other policies and other sectors a lot more aggressive and restrictive and we are talking regulation coming back, energy policy, already looking at not being energy independent anymore so i don't see us with energy independence, having regulation added back to different sectors, the executive orders i don't see us having a trump economy under a biden administration. ashley: the fed is still really -- 11 days from expiring, you are not going to have that exemption anymore, i thought there was interesting but does it signal perhaps, i asked someone else earlier, the fed are more confident in the
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economy and taking away some of these exemptions. >> on this bankroll you mentioned, the fed was giving the bank some leeway to hold more treasury in their portfolios and they are dialing that back a little bit and pushing long-term interest rates up. there is always an impulse in the fed to get back to normal in terms of what the regulatory environment was and what interest rates were. in terms of interest rates they are promising they are going to keep them very low for the next couple years and i think the thing we need to be talking about like the real risk on the horizon that we need to be concerned about is what is going to happen with inflation. we are talking growth, unemployment, what is the risk when i go out to buy my plane
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ticket in a couple of months when things get back to normal after we bailed out these airlines that they are going to jack up the price on me and it is not going to be affordable to travel and get back to life as we knew it. the price story is a big story in 2021. ashley: jack, your comments on that? gas is a lot more expensive but i hear more people complaining about going to the supermarket and how much more they are paying and that could the economy, people can't afford it. >> absolutely right, $400 fiscal stimulus check is going to be eaten up by higher gasoline prices, higher food prices as you mentioned so it is not going to have a positive impact on the underlying economy the market might think it will. ashley: we will have to leave it there. thank you all for joining us today. we appreciate it. wants to take a look at the other headlines of the day. foxbusiness at lydia who has more. good afternoon.
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>> let's start with twitter if you haven't heard, the social media giant suspending republican georgia representative marjorie to green according to her office and it is not immediately clear why but the suspension comes as house democrats moved to expel the lawmaker from congress. the lawmaker has been criticized for promoting conspiracy theories and not the first suspension for her. the social media platform suspended her account in january after one of her tweets about the georgia runoff elections was flagged for violating twitter's rules about spreading misinformation. china is restricting tesla. it restricted the use of tesla electric vehicles according to the wall street journal report, some state and military personnel can no longer drive a car citing national security concerns after a recent security review reveals tesla cars can record images of their
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surrounding locations and track personal information. the restriction comes as tesla is facing mounting competition from china's largest automaker over automated driving systems. last but not least the nfl is finalizing a new 11 year media deal. starting in 2023, the league is reviewing tv rights with all existing broadcast partners with viacom, fox and comcast and there is a new addition, amazon will have exclusive rights for thursday night games which means if you want to watch a thursday night game you will have to stream it over amazon. there's an important caveat. those who want to watch their hometown team can catch the thursday night game over to and broadcast. amazon is reportedly paying $1 billion for the rights, other companies paying the most at $2.7 billion that include exclusive rights for an international game each year. believes is this entire media
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deal will increase access to their fans. ashley: which is a good thing but that's a lot of money. thank you, appreciate it. the biden administration dealing with a surge of migrants that border agents is getting worse by the day. casey steagall live at the border, casey. >> reporter: a top member of president biden's administration at the border, we will give you an update from the front lines at the border next.
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in el paso traveling with senator rob portman of ohio and we are not sure who exactly he will be meeting with on the ground or where they will be visiting and this comes as calls from some republicans grow louder for alejandro mayorkas to resign from his position for the department of homeland security. for what he calls failures to manage the current crisis at the us-mexico with the border. it comes when border patrol officials say apprehensions keep climbing. the bed space to house the miners gets tighter and some people who live in these border communities like this texas resident feel more unsafe. >> they don't feel safe, ranchers that work in tech waters, they come across 10, 20, 50 people.
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>> reporter: on the topic of immigration, george w. bush telling a virtual crowd in austin late yesterday attending the sxsw festival virtually the nation needs a path to citizenship for the estimated 11 million illegal immigrants already living in this country and went on to say politicians can no longer continue to ignore the situation. actually. ashley: it is a situation that continues to get worse. thank you, appreciate it. tensions with china playing out on the world stage and the biden administration's first face-to-face meeting with beijing diplomats secretary of state blinken making it clear the us would take a tough stand on human rights while china is accusing america of meddling in a statistic of fares.
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someone who knows china very well, max bacchus, thanks for joining us. we had a contentious first face to face meeting, both sides putting down a marker but where do we go from here? >> i was a bit surprised how tough blinken was when he spoke. and and secretary blinken. and show to our allies he's tough on china, i did expect him to be tough but he went off with values, human rights which gets under china's skin but
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tougher his own domestic markets. the chinese council many times, i know him well, did not surprise me at all. he lectured me about the superiority of china. >> a lot of issues out there. and what are the thorniest to try to address? >> this may be too candid. difficult to change china's behavior in hong kong, and blinken knows that. he has to push it for several reasons.
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we need to espouse western values of decency, common sense, rule of law, transparency. that is who we are but second he is doing it for domestic markets. and also leverage. i am hoping after this meeting is over, secretary blinken might say here is something we can do to get the ball rolling. we will reopen consulate in houston, and another in chengdu, and exchange journalist. and release the tension. >> i first interview you in 1987 when i worked for the nbc station in helena, montana. you were very kind to me and even sent me a letter on the birth of my daughter at st.
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peter's hospital in helena which she keeps with her to this very day. after all these years, full circle and talk to you again. thank you so much. >> that is where i was born, full circle. ashley: a beautiful place, thanks very much. after this, elon musk's boring tunnels coming to miami? we will speak to the mayor why he is talking to the company today after this. ♪♪ ♪♪ ♪♪
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>> was that neil cavuto in the background? spring break is getting so wild
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the miami beach mayor is suggesting the entertainment district be done away with for good. that is drastic. phil keating has the latest details. >> reporter: the month of march is a big moneymaker for tourists trying to get to the warm sunny beaches, escape the north and the cold temperatures. in south beach in miami beach things have become quite chaotic, you see the crowd starting to pack the street, also having lunch and having drinks but last night on the same stretch of ocean drive is a big crowd, very few masks, fights broke out, police on the scene had to shoot pepper balls to get the crowd to scram and one local restaurant was
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totally trashed. it's been a heavy month of crowds, as if there is no pandemic, no social distancing, no or little mask wearing which is not what city and health leaders want to see. there have been fight in parking garages, fight on the sidewalk and in one case somebody set off fireworks which many people thought were gunshots which they were not but guys and gals scrambled, even hiding under tables as police shot pepper balls and the crowd. according to analysis, more than 6 and universities and colleges have canceled or shortened their traditional spring breaks this year, all with the idea, not making a super spreader situation like spring break became last march. and not just south florida but up and down the states, and
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packed crowd, party on. despite pleading with anyone who wants to get wild and crazy, not to come after what happened this march, miami beach's mayor is wanting to shut down iconic ocean drive as it has been known, miami beach's entertainment district. part of the big draw this year, a whole year of a pandemic and lots of pent up eagerness to get out and do something, why not come to the beach, plus airfares have been supercheap, one of my produces flew down from new york city to florida last week for $50. this weekend, the second high intensity weekend, and there will be more cops out starting tonight, even the department of corrections officers with the county, miami-dade will be on hand with the vans and ready to
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make arrests, citations and even hall people to jail if need be. all the businesses and restaurants that make a lot of money this time of year, not everybody is on spring break, a lot of people just on vacation but certainly nobody wants to see any chaos in the police say have fun, follow the rules for safety. ashley: and they are not doing it. thank you very much, messy video from miami beach. joining me is the mayor of the city of miami, and paramount miami world center ceo daniel kotzy. i want to ask you about these spring break crowds. are you seeing any issues like your neighbors in south beach? >> know, we are not thankfully. obviously we are prepared for it and the most important thing so far based on the data we are looking at we are not seeing
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and hopefully won't see a reversal of the downward trend in new cases, percentage positivity and hospitalizations we had been seeing for so many weeks in advance of the last couple weeks. we continue to vaccinate people at a higher level. we reduce the age to 40 years old so that's more of the population, and the vulnerable population, at the highest risk. >> he will meet with elon musk to tour his boring companies not as in not fun but boring company, the las vegas tunnels. and you will be leading that effort so what can you tell about plans for this tunnel. why does that need a tunnel. a major developer in miami, we
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are not developing the tunnel, and what is important for the tunnel, to downtown miami, currently the miami river separated, the drawbridge creates a hindrance so the connectivity in miami is probably one of the highest growth urban cities in the united states right now, we are building a 27 acre master plan project in the center of downtown miami called miami world center. this is 10 blocks of development, the financial district, the river and central business district, the connectivity will be very important and we want to connect all of downtown miami to make it a cohesive, walkable, drivable area. the city has seen remarkable
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growth on many fronts and especially from people just moving to south florida that up with a high tax northern states, brought there by covid, the ability to work from home. that had a big impact, as a developer in that city have you seen anything like this. >> this is unprecedented. we've never seen anything like this. we seen 20% increase in values, as high as 40% to 50%, luxury home market shot up the roof, hospitality market, some really nice hospitality projects in miami beach as well, 100% occupied, $400 a night. he is a robust housing market, robust hospitality market. miami is a hot city right now. ashley: it is in every sense. you must be deleted. growing pains when more people
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come to your city but it is a good problem to have. is it not? >> it is. we try to keep things very simple in miami. we don't have state or local income tax. the lowest rate since the 19 sixties. and the most funded police officers in history, from 1954. and looking at the boring tunnels is something, and major cities with traffic congestion. we will be a will to do it on the ground. and what tunneling costs. >> miami is boomtown. thank you very much for taking time to chat with us today.
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thank you. how small midwest manufacturing company battled through the pandemic and even launched a new business to prepare for the next emergency. that story is next. s- designed to work better together. get a home loan or home refi or fund home improvements with a personal loan. all in one place. that's better together. and get lower rates on personal loans when you have sofi money or invest. that's better together. and that's why members choose sofi to help make their dream home a reality. ♪♪
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ideas start the future, just like that. lately, it's been hard to think about the future. but thinking about the future, is human nature. at edward jones, our 19,000 financial advisors create personalized investment strategies to help you get back to your future. edward jones. ashley: about 100,000 small businesses have shut down because of the pandemic but one small business in wisconsin owned by a former navy seal found a way to keep people working at operations running. connell mcshane is crisscrossing the country on his electric scooter and joins us from wisconsin.
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charles: has to be electric. as tough as things have been, we actually have found a number of companies driving the year after the pandemic. i would say resilience almost always is key and in wisconsin a little military training has been a big help them. the ceo walking the shop floor is bilberry in, a navy seal officer, 9 years on the seal teams shaped his philosophy on business, forming highly cohesive and trained teens and work toward a common goal and that was tested year ago. >> we were all expecting the march april timeframe expecting the bottom to break out. >> a new opportunity came up for his company, federal global precision. >> we heard from elon musk who said they will start building ventilators. >> one of the ventilator
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component manufacturers, having done that. >> he has been around for 70 years, first time it made ventilator parts but bill knew immediately this wasn't a long-term plan. >> it was going to keep things humming no matter how many ventilator parts needed. it was a scary time. >> thanks to that relationship with space x, they have branched into the aerospace sector opening another new set of doors. its own workers constantly eve offering, nate cut damien used to operate these machines but during the pandemic. >> we are training to do programming. >> vendor was making an investment in his future. >> someone has to write a program to tell the machine what to do to make that part. >> reporter: that someone might as well be me. nate now makes more money, has
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more opportunities. bill started a new company called pod x, special operations command for manufacturing so they find a company to get it done. ashley: great stuff, really interesting. no one does it better than the military and that is proof. thank you very much. charlie gasparino is reporting on the possibility of amazon workers unionizing and where investors stand. you've got the story. charles: doesn't seem like a day goes by that amazon is banning conservative book or conservative movie from its streaming services. people are wondering why. there is a theory that amazon is doing this because it wants to appease the left while it prevents unionization of its workforce.
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investors keeping a close eye on that unionization efforts because they believe if it does happen, amazon could take a huge hit to earnings and stock price. there is one case but it could spread and that is what investors are telling me. that case is in atlanta, and effort to unionize amazon workers and if that does happen, this is the theory that investors are telling me, they believe it will spread and it is fascinating because amazon i would say 1997 when it was just an online book retailer and 500 employees in the us, now has thousands. you are talking about if all those employees become unionized you are talking a major hit to earnings. why does amazon have this penchant for banning books,
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banning conservative speech, and conservative movies? the theory among investors, i'm not coming up with this, they are looking for cover from the left because they want to prevent the unionization effort which will take a huge chunk out of its bottom line given how big its ramp -- its workforce has ramped up since not just an online bookseller but a seller of everything, streaming and the nfl. it is fascinating stuff. keep an eye on it. if it doesn't unionize, you could see the stock price, investors are worried it is going to spread. if you wonder why amazon is banning conservative books this is one of the reasons. ashley: as you point house if that happens in atlanta they will start to drop one by one. great stuff as always. we have a story about your
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favorite magazine, the new editor in chief forced out of her job over tweets she said as a teenager and apologized for. is that fair? we will discuss. ♪♪ ♪♪ we never go out of style ♪♪ we never go out of style ♪♪
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act now. ashley: the cdc showing guidance calling for 3 feet of distance in schools instead of six. president biden and vice president harris have just arrived at the cdc. >> reporter: you saw the motorcade with the motorcycle expert speed behind us and the cdc enacted a short time ago under certain conditions in elementary school that it would be changing its guidance on social distancing from 6 feet to 3 feet. here's the head of the cdc. >> today's announcement builds
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on our ongoing efforts to support teachers, staff and students as well as our work and educational and public health stakeholders to provide the guidance and resources to get, as safely as possible. >> the change in restrictions comes after a report by the cdc which found the widespread damage done by remote learning, emotional and mental health. students and parents as well. the president and vice president inside the cdc getting a debriefing on the pandemic that also marks 100 million vaccinations in 58 days, the us vaccinating 2.5 million people a day on average and good news out of adults, 65 and two out of three receive at least one shot. ashley: that is good news but appreciate that. meanwhile cancel culture
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claiming yet another victim, the editor of teen vogue, out of a job after an uproar over tweets from more than a decade ago. her former colleague coming to her defense on fox news is short time ago. watch. >> really sad to see this happen. i worked with her for four years. she doesn't have a racist bone in her body. if we can't as an industry accept somebody's sincere and repeated apologies for something they tweeted when they were 17 years old, what are we doing? ashley: good question. what are we doing? gianna caldwell, good to see you. what is your take on this? >> great to be with you and sincerely agree. as a teenager, things that we have said or tweeted, i'm a
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little and she is but certainly there are things i regret saying or doing just like any other person in the world. there absolutely should be grace especially if you are not an active racist person. if that is the case that is another conversation but certainly in this case there should be grace and the fact that cancel culture has taken over to the degree that it doesn't matter what you did or say to bring about reconciliation from the particular issue at hand there is no grace, cancel culture should be eliminated completely and totally and for those who think otherwise they should reconsider. ashley: i thank god every day the social media, the internet was not around when i was at an age when i more than likely put something out there that would come back to hunt me 1 million times over. we are different people when we are younger, we say things later in life we would cringe at.
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should there be some statute of limitations, and the severity of it. in most cases to me it was being a dumb teenager or dumb youngster, which you are cringing about and you apologized for it. shouldn't that be enough? >> certainly it should be sufficient depending on the set of circumstances but could be your adult year, you could be in your 20s in college and be looking to fit in, that is the point of college, you are trying to find what you are good at and find your self. there should absolutely be grace was reminded of the bible where that is what grace is more about. that being the case we should be looking at these issues much differently especially if this is not a consistent view a person holds. another example, i have a
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conversation coming out on my podcast this coming monday. i encourage people to subscribe on apple podcast or wherever you get your podcast. we are talking about the in word and cancel culture, and there should be grace in some of these situations. i encourage people to listen to that conversation because it absolutely will break news this coming monday. ashley: it will and the stories will continue to come because we live in fear that if we fight back against the cancel culture than we are racist or whatever you want to call me. that is the world we live in. thank you so much. >> the world we live in today. by informing people and educating people on a daily basis. ashley: thank you very much. a quick alert for you, top us
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infectious disease official anthony fauci saying the uk coronavirus variant is getting more and more dominant in the us, the uk strain likely now accounts for 30% of us covert infections. that thing has spread quickly. we will be back after this. ♪♪
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ashley: the markets are mixed as you can see the really good news is that it is friday, take away my good friend charles payne. charles: good afternoon everybody i am charles payne and this is making money. they said that jerome powell delivered a blow that really after they had several now, the news is a major victory but not for banks and offer borrowers and certainly not for the bond markets but still i think this is the calm after the storm. i'll give you my take on that plus have you noticed something weird about today's session. growth is being valued according to the merry-go-round continues and we have ideas on how you can capitalize and meanwhile president biden already going back in o


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