Skip to main content

tv   Mornings With Maria Bartiromo  FOX Business  April 7, 2021 6:00am-9:00am EDT

6:00 am
must death, disease, misery are going to have between now july 4? mr. president why not a little vaccinated economic boom optimism? that is where america is. hang with maria: good wednesday morning, everyone. thanks for joining us. i'm maria bartiromo. this is april 7th, your stories right now 6:00 a.m. on the east coast. president biden's message for georgia, local businesses bracing for the worst after major league baseball moves the all-star game. georgia governor brian kemp is here later this hour on what the move means for workers. the biden administration reversing course on the border wall. the white house reportedly looking resuming construction of the wall. all the details coming up. markets this morning are searching for direction. we are looking at the dow
6:01 am
industrials flat on the session right now. investors are waiting minutes on the central bank. policy meeting. we will get that in afternoon. in the meantime markets fractionally higher after pullback after record highs on monday. we had weakness in technology and cyclical names. nasdaq down 7 and the s&p 500 down about 4 points. still right around record highs. global markets this morning look like this, european stocks right now are mixed. ftse 100 is up 43, the cac quarante is up 2 and a half, the dax index in germany lower by 10. vaccine optimism and weaker british pound contributing to moves this morning. in asia overnight, mixed story. take a look. best performer overnight was kospi in korea up a third of a percent. in hong kong markets were lower about 1%. the geopolitical tensions in the region rattling markets. we will tell you about that coming up. mornings with maria is live
6:02 am
right now. ♪ ♪ maria: now some of the top stories that we are watching this morning. heartbreaking new video of unaccompany migrant child begging border patrol agent for help after spending the night alone in the desert. watch this. [speaking in spanish] [speaking in spanish] maria: the boy believed to be ten and 12 year's old was taken to nearby shelter. meanwhile homeland secretary alejandro mayorkas is reportedly
6:03 am
considering restart border construction to fill in gaps in the current barriers where migrants are streaming through as we have been telling you this was all paid for but they stopped it anyway. president biden says that georgia needs to, quote, smarten up to avoid businesses leaving the state over new voting law. this comes after the president said he strongly supported moving this year's mlb all-star game out of the state. when asked yesterday if the master's tournament should follow suit, biden said it was up to tournament organizers, a lot of falsities this week from president biden on this issue. amazon ceo jeff bezos says he support a rise in corporate tax rate. bezos also expressed his support for president biden's $2.3 trillion infrastructure spending plan in public memo yesterday according to institute on taxation and economic policy. amazon paid a federal income tax rate of 9.4% in 2020 even though the corporate rate was much
6:04 am
higher than that. bezos' support as amazon faces scrutiny over workplace policy. take a look at amazon and it is down a fraction. president biden revealing he has not spoken to chinese president xi jinping about the origins of the coronavirus. something i'd been raising now for weeks. the white house recently said it believes china has not been transparent in releasing its findings as part of a report with the world health organization. u.s. and international experts have called for further investigations but biden said the subject never came up with president xi jinping. futures this morning are flat. take a look. we are awaiting minutes from the federal reserve's last policy meeting and dow industrials up 6 points and nasdaq up 8 and 3 quarters and s&p up 3 quarter of 1 point as monetary fund upgrades global economic growth forecast for the second time in three months. imf reporting that the global economy will expand 6% this year. this up from 5.5% estimates back
6:05 am
in january. of course, there are private economists numbers that are even higher than this. nancy lazar looking for 9% growth in 2021. joining me people's united adviser john trainer and joining the conversation all morning long iwf senior analyst patrick luca and pollster and president of maslansky + partners and also author of persuasion, lee carter. thank you for joining us. john, let me kick it off with you and get your reaction to imf's forecast for economic growth. does that change anything for you in terms of investing in the stock market? >> what it does it really reforces our beliefs in that not only the u.s. economic recovery but a global economic recovery. if you take a look at the imf number. that's the highest growth rate in over 40 years. that's a phenomenal if you remember and they have india growing audiotape t 12 and a half percent and china growing
6:06 am
over 8%. so those are fantastic numbers. maria: they really are and i wonder what that means of the corporate sector. we will begin to see the first-quarter earning numbers flow. big banks like -- jp morgan, goldman sachs and your expectations in 2021? >> these are very, very important because the banks are an important part of the value component of the marketplace and the banks will set a tone not only for themselves but we think we will see good numbers and good indications of growth this year going forward but that will also give us a good sense of how valued stocks will continue. these are going to be critical
6:07 am
earnings reports. maria: tell neglect in terms of -- me in terms of sectors, do you want to be tied to the recovery as we see 6% and other 9%s and eddy at 7%. you want to look for cyclicals or growth which has been the sectors like tech? >> we started the shifting away from growth more toward neutral portfolio and beginning in the last quarter of last year. you want to own cyclicals in your portfolio. you want to have the value exposure. when you have growth, value stocks do very well. growth stocks do really well when growth is scarce which is what we saw last year. this year going forward, you want to tilt your portfolio. you don't want to go all the way but you want to have your portfolio to cyclical exposure and especially the financials.
6:08 am
maria: patrice jump in here because as expectations go higher on economic growth, so do expectations on inflation. i want to get your take on that as well as we continue to see stocks near record highs. >> well, maria, that was exactly the question in my mind. what is inflation going to do when it comes to growth rates. i think there's been so much money pouring in. lots of stimis as we know 678 potential 2 plus trillion dollar infrastructure package. i mean, i think it's going to be interested to see what happens when it comes to the price of goods people are spending, their milk, their bread, some of the basics. i'm curious to see if inflation will have any impact on growth going forward. maria: john, your thoughts on that? >> well, inflation is the key. if there's a risk out there, that's the risk. you know, we are seeing a very new fed policy. the fed has basically said they're no longer going to be proactive.
6:09 am
they are going to be reactive. and central bankers in the past have not been very successful when they waited to see inflation, so if there's a concern, if there's a risk in our forecast as we think about the year ahead. it's a surprise on inflation and the fed doesn't react fast enough. that could cast some concern in the market. maria: just to be clear. you are bullish on cyclical names. you want to be adding to the portfolio now or you want to raise cash given the valuations, john, what's your take right now in terms of investing? >> no, we are actually slightly -- we are about 5% overweight in equities. we think right now there's momentum. certainly we will see ups and downs but you want to have cyclical exposure and you want to be slightly overweight equities at this point. maria: all right, rock and roll, john. good to see you this morning, thanks very much. we appreciate your time. come back soon. all right, have a good day. morning mover this morning is cruise lines, take a loot at
6:10 am
norwegian, carnival and royal this morning, sailing optimism to rebound. the stocks are up 2 or 3%. norwegian says it would require passengers and crews to be vaccinated two weeks before getting on board in hopes of convincing the cdc to allow cruises to resume from u.s. ports. we did hear some positive commentary yesterday on the cruise sector so this is certainly one group to watch today. we are just getting started this morning, we have a big program coming up. coming up georgia governor brian kemp is here to discuss the criticisms surrounding the new state election laws. why are ceo's getting involved and getting it wrong as the president tells him to smarten up. coming up later this hour. we are fighting the all-star game political strikeout. will regret reaction from atlanta owners.
6:11 am
plus the ceo of the vector group joining me to give us his take for the outlook of new york real estate. don't miss a moment of it. mornings with maria is live on fox business. ♪ ♪ ♪
6:12 am
6:13 am
♪ because we all need an answer to move forward. ♪ dignity demands your heart stays connected to your doctor, so you know it's beating as it should. ♪ it demands a better understanding of your glucose levels, so you can enjoy movie night. ♪ and knowing your baby is getting the nutrition he needs, no matter how you choose to feed him. dignity is not effortless nor easy. at abbott, we fight for it every day, developing life-changing technologies. because dignity demands it. ♪ ♪ limu emu & doug ♪ liberty mutual customizes your car insurance because dignity demands it. so you only pay for what you need. thank you! hey, hey, no, no limu, no limu! only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪
6:14 am
incomparable design makes it beautiful. state of the art technology, makes it brilliant. the visionary lexus nx. lease the 2021 nx 300 for $349 a month for 36 months. experience amazing at your lexus dealer. maria: welcome back, president biden telling georgia to smarten up to avoid losing business. the president staying quiet, however, when asked if the master's golf tournament should pull out of peach state after major league baseball relocated this year's all-star game. white house press secretary
6:15 am
jenpsaki weighed in, watch. >> voting regulations are very similar to georgia? >> colorado allows you to register on day. colorado has voting by mail where they send to 100% of people who are eligible. applications to vote by mail, 94% of people in colorado voted by mail. it's important to remember the context. georgia legislation is built on a lie. it's up to major league baseball to determine where they are holding their all-star game. maria: more lies but this after president biden made false claims about the georgia law last week. joining me right now the hail media reporting and fox news reporter joe concha. how many falsities has president biden made in the last two weeks about the border, about the georgia law, i don't know,,
6:16 am
assess what you're hearing president biden. >> let's see, he said he was sending vast majority of families at the border. that was determined to be a lie or when he talks how president trump was starving young children at the border by sending them back and leaving them to die that was determined to be a lie. the washington post fact-checked claims on georgia law found he committed a fourth pinocho, there's no fifth pinocho and the white house continues to repeat it. we have seen this time and time again when it comes to this administration. lie and double down on the lie and hope they get through this sort of legislation without a republican support but as far as the georgia law is concerned, it's not just joe biden, it's not just jen psaki, it's the media as well. you have sports columnists calling for not only for the all-star game to stay in california but for the nfl to
6:17 am
declare that no super bowl will ever be played again in the state of georgia or sec championship or any sporting event like the final four. not just georgia, if florida or texas or arizona red states that also deem to have voting laws that are suppressive when you ask for an id, if you want to vote sort of thing, well, then, you will see major sporting events taken out of those states too because corporations aren't thinking before they are reacting in the situations in an effort to be woke and it's going to hurt those corporations ultimately because when you look at the polls as far as, for instance, do you support voter id requirements, 56% of democrats support those laws. this will backfire ultimately on the corporations and administration. maria: ceo's versus
6:18 am
shareholders. they are going against their own shareholders and in it the -- the editorial board writes this. by endorsing the false interest of the democrat party, if hr1 passes, it will impose rules on all 50 states that will make it easier to elect more democrats, that's why nancy pelosi, chuck schumer and president biden are so intent on passing it. does the media recognize what it's doing here with the falsities. this is massive implications on the american people on all 50 states. >> you have to ask the media that question and also have to ask major league baseball that question because you talk about hurting shareholders. the bottom line, let me give you two stats, maria, because i found it fascinating. went back and look right before president trump took office, what was the last sporting event which has gone extremely woke, that was the nba finals, 50 million people tuned in on average to watch those finals, those games. in 2020, 7.5 million tuned in to
6:19 am
watch the nba finals. that's during a pandemic where there wasn't social options. two-thirds of your viewers are gone. how about major league baseball, the world series was watched by 23 million people in 2016. then you look at last year, less than 10 million, 60% of viewers gone, after a while that begins to hurt your bottom line if you're major league baseball or nba or all in this effort to look woke or be politically correct and not realizing that people are watching sports for escapism or not to have politics shove down your throat but they don't seem to be getting the message and maybe now after ratings continue to fall because people completely turned off by all politics that are in the game, maria. maria: well, this is the era that the legacy of the media really plummeted. how shameful can you get with this. and then there's cbs, standing by controversial report that ron
6:20 am
desantis gave performancial treatment to to offer vaccine after they donated to reelection pack. no mention that this is the largest grocery store chain in florida. the network released a statement supporting the story but declined to mention the pieces key pay for play accusation. meanwhile florida state emergency managing director, democrat jerry says he told the network to report that the report was not accurate. they still ran it, joe. >> yeah, and other democrats as well in the state, right? you have the mayor of palm beach county that said that this wasn't just a mistake but intentionally false. that's a big accusation. these are democrats coming to the aid of republican governor who could very well be the 2024 nominee and this whole thing by the way, about paid pay to play, a, publics donates to both parties including bernie sanders, including joe biden.
6:21 am
how do you make that argument? and then do we really believe that a hundred thousand dollars donated to ron desantis pac, that that buys the florida governor, somebody with presidential aspirations because if he's the nominee, he will end up raising $2 billion during that campaign. $100,000 buys you access. that dog don't hint but the bottom line is that publics to your point is everywhere in florida. there's more than 800 locations. you can't go more than 1.5 miles if you're a senior in florida without running into a publics. virginia, south carolina, texas, georgia, they're also in the vaccination effort when it comes to publics in that state and the bottom line is. i will stop saying the bottom line is, 80% and that should have been your headline, maria.
6:22 am
maria: believing america is in decline. china and the communist party has been try to buy the biden family for year and that's the story and the media ignores it. joe, good to see you, we will talk soon. joe concha. stay with us. we will be right back. ♪ ♪ ♪ and there's nothing down there with you but the choice that will define you. do you stay down? or. do you find, somewhere deep inside of you, the resilience to get up. ♪♪ [announcer] and this fight is a long way from over,
6:23 am
leonard is coming back. ♪♪ ♪♪ ♪♪
6:24 am
6:25 am
maria: welcome back, many of us have felt it. the quality of life in new york declining as tax rates increase and crime follows suit. many businesses are leaving new york for states with lower tax and lower crime rates. new york post op-ed highlighting current state of affairs of new york. michael goodwin writes this. there's something different and especially troubling around this time. the possibility of permanent
6:26 am
decline and ultimate destruction of the new york we know is unmatched in modern memory as governor andrew cuomo and the legislatures plan the launch $4 billion in tax increases in already high-taxed state. lee, new york has agreed on budget and includes increase of 4 billion in taxes. your reaction. lee: i think it's a slippery slope. new york has been on the decline. companies have been leaving for a while and now seeming more eminent when you don't need to have the office space and you don't need to be in a centralized location anymore and when tax rate is so oppressive and quality of life for people can't afford housing in the same way, it's hard to draw talent. and companies are just going to go where they can -- where they can make more money, where they can pay less taxes. why would they stay in new york? maria: yeah, i mean, patrice, it's more than just the taxes. yeah, we are seeing new york
6:27 am
become more expensive but the policies away from economics are also very troubling. the end of cashless, you know, cash bail sparked a new crime wave. you are seeing shootings up, murders up in double digits. >> absolutely, maria. shootings are up 91% last year, murders up 44% last year and you are talking hundreds of thousands of new yorkers that lost their lives or shot. carjackings are also up and it's not surprising that the quality of life is suddenly, you know, eroding when you're not enforcing smaller penalties against smaller crimes and creating this kind of environment where people don't want to live. it's not surprising that they are moving out and they are taking their money with them. i think like 3 and a half million people left new york last year, 70,000 but they took $34 billion in income. that's money that's no longer in the kitty for the governor to
6:28 am
spend or the city. maria: what gets me there was a major hole in the budget but the feds fixed that by giving new york tens of billions of dollars and yet they are still raising taxes even though they just got a bailout from the spending plans. we will take a break. when we come back we are zoaing in at the tragedy at the border. surge of migrants causing the biden administration to rethink its strategy. is it a mia culpa, we will get into it. mayor brian kemp later this hour and controversy of reopening the state. much more ahead. stay with us. ♪ ♪ ♪ but i've seen centuries of rises and falls. i had a love affair with tulips once.
6:29 am
lived through the crash of '29 and early dot-com hype. watched mortgages play the villain beside a true greek tragedy. and now here i am, with one companion that's been with me for millennia; hedging the risks you choose and those that choose you. the physical seam of a digital world, traded with a touch. my strongest ally and my closest asset. the gold standard, so to speak ;) people call my future uncertain. but there's one thing i am sure of...
6:30 am
♪♪ ♪♪ ♪♪ ♪♪ ♪♪
6:31 am
comfort in the extreme. ♪♪ the lincoln family of luxury suvs. ♪ ♪ (upbeat music) ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ maria: welcome back. good wednesday morning. thank you very much for joining us. i'm maria bartiromo, it's wednesday april 7th, take a look at the dow, up 16 points.
6:32 am
nasdaq up 15 and s&p 500 high -- by two and three quarters. we are awaiting the minutes from the federal reserve's last policy meeting. we will get a better idea on where the fed stands in terms of stimulus as well as interest rates in the face of worries about inflation later today when we get those minutes about 2:00 p.m. eastern. stocks pulled back yesterday after hitting record highs on monday. weakness in technology and cyclical names weighing on broader averages. dow industrials down 96 and nasdaq lower by 7 and s&p lower by 4 points. global markets this morning are higher. take a lack at european indices as you see right now ftse 100 is up 60 points, the cac quarante up 7, dax index in germany turned weaker. vaccine optimism and weaker pound contributed to the sentiment. in asia overnight, mixed story, korea and japan higher fractionally speaking. we want to look more now at what is taking place in georgia.
6:33 am
president biden speaking out once again in support of major league baseball along with other organizations and companies boycotting georgia's new voting law. >> it is reassuring to see that for profit operations and businesses are speaking up about how these new jim crow laws are just anithetical of who we are. maria: the new jim crow laws. former president trump is out with a statement that it was, quote, too bad that the law didn't even go further. florida senator marco rubio asking the major league baseball commission rob manfred if he tends to resign of the augusta national golf club where the masters tournament begins
6:34 am
tomorrow. governor, great to have you this morning. thank you very much for being here. governor: good morning. maria: well, i'm astounded at corporate market getting involved in this fight even though there are so many falsities here and hearing the president of the free world extending those falsities, calling it jim crow. what do you think is going on, governor? what's your assessment? >> well, number 1 president biden is lying to the american people and our own citizens here in georgia. i just laughed to myself, maria, when he's talking about we need to smarten up. i mean, look at his own state of delaware. they actually call your name out before you go vote in precincts so people can challenge you. can you imagine if we had that in our law? i mean, the world would be falling apart right now. he needs to focus on his own state and not worry about georgia. this bill makes it easy to vote and hard to cheat. we are doing away with the
6:35 am
signature match process and implementing voter id on absentee ballots and securing ballot drop boxes that were never in the law before this year or make election officials count continuously until every vote is counted so you don't have disruptions that brings doubt and, you know, it's just good common sense, election security making it easy to vote but hard to cheat. maria: yeah, they are talking about making it tough for african-americans to vote. the corporate ceo's are and there's a lot of conversation about that. leave it to corporate america to move an event from a state which is 60% white to a state that's 80% white. atlanta is 52% black. denver is 10%. colorado requires voter id. how is it possible that these titans of industry didn't read
6:36 am
your new law and caved and rolled over for progressive mobs? >> they folded like a wet rag to cancel culture. it's woke in real life and americans in georgians should be scared. what event are they going to come after next? what value do you have the way that you live your life are they coming after next? are they going to come after your small business next because that is who is getting screwed here, maria, the small business people who would have profited from the all-star game being at park with atlanta bravers and now they are moving to colorado. they have two days less of early voting than we do. think have a voter id. you know, president biden has been talking how bad voter id is. he did the pregame for the ncaa championship the other night that was all held in indiana. that's the birthday -- birthplace of photo id and it's okay to have a voter id.
6:37 am
most americans and most georgians support this and it's hypocritical. it's amazing that ceo's that have government affairs team that knew what was in this bill that were fine with it, they didn't even bother to check with them because they got pressured from the woke. maria: i mean, what's wrong with having a voter id. it's just ridiculous to push back against that and you just mentioned, i think there's a latest study out that says 70 plus% of the african-american community believes that voter id's should be used. governor, i want to go back to the beginning of this. tell us why you felt the need to change any law in georgia, why did you feel the need to come up with this new law in the first place, talk to us about that. governor: that's a great question. look, it wasn't just me. we held strong majorities in the georgia assembly, speaker put a
6:38 am
committee together based on a lot of things that we had seen that legislators, myself and others had heard post election, also in the runoff, things like senator perdue and senator loeffler had told us and the they responded to that and talk today local election officials and the local officials told them the problem. we had increase of absentee ballots by mail and the signature match process just did not work very well. you can't take the time to really scrutinize that as antiquated. it takes a long time to process, a long time to count and that's the reason we put the voter id on there to make it more secure and also to speed the process up. now the other side, they are not talking about speeding the process up and making it easier for the county elections officials. the same thing, we did not have ballot boxes before this law in georgia. so we had to deal with that because that was done by
6:39 am
emergency rule by the secretary of state and the state election board and that's really where the just of all the things came from. maria: yeah. and everybody knows when you go all out on mail-in balloting, you may very well be opening the doors of fraud. the ag, bill barr told me that a year and a half ago. but president trump is going one step further saying you know what, it's not strong enough. this is a statement from donald trump. georgia's election reform law is far too weak and soft to ensure real ballot integrity. election day is supposed to be election day not election week or not election month. what's your reaction to what the president -- president trump is saying in response to the new law? governor: well, maria, as i said earlier, the fact that this bill makes it easy to vote and hard to cheat in georgia, it's republicans that have, you know, put in places a lot of things over the years and the assembly
6:40 am
continues to support that but they want them to be secure, but also to deal with mechanical problems that we saw in the election and that's really what we are doing, whether it's voters being intimidated or harassed while they are standing in line and making sure that we have, you know, a clear line in the sand on, you know, when you can do that, when you can't to make sure that people don't get bothered when they are trying to vote or slow the process up. i mentioned dealing with ballot drop boxes. we expanded accessibility for people to vote in georgia. the democrats are attack us about how bad the bill is and we are suppressing the vote and this is racist and this is jim crow 2.0 weeks before they knew what was in the bill. that's not what's happening here. this bill makes for secure, accessible fair elections in georgia and every single republican voted for it. maria: yeah, but the more president biden talks about it,
6:41 am
the more falsities the public is getting and that's triggering behavior. do you think president biden should apologize to the people of georgia and the american for you said lying? governor: president biden, stacey abrams, all of the ceo's of the companies that are in new york and new jersey and former ceo's that are pressuring people like delta and like major league baseball, coca-cola and others, they should be truthful with people. they should look at their own damn laws in their own states and this is condescending. this is what they are playing. it's about hr1 and sr1, they want a federal takeover of elections in our country. that is an unconstitutional power grab and our founders set it up for the states to run
6:42 am
elections, to prevent foreign interference and that's the way the constitution says and that's the way it should be. make no mistake, all this is pressuring the corporations and say we will give you a pass on this if you support the federal legislation and we have to continue to spread the word to the american people and we neat to unite and fight -- we need to unite and fight against this. maria: hr1 is so they stay in power and not for the people. that is really more dirty tricks. governor, i want to move to breaking news on covid restrictions. governor abbott from texas said if hr1 passes, he will move election day so that texas is not involved in this federalizing of elections. would you consider doing the same in georgia?
6:43 am
governor: i hadn't seen that. i have to look at that. that's an interesting idea. maria: okay. real quick on the breaking news of the day, covid restrictions opening up in your state, tell us about that? governor: yeah, we are excited. our numbers are down. we have been trending and our vaccines go very well and targeted our seniors and the medically fragile and those in the hospital or have bad outcome from covid. so that's absolutely worked. hospitalizations are down. our economy, maria, as you know has been mostly hope for, gosh, about a year now and we are doing very well economically but it's time to open up the rest of our sectors that have been struggling, our restaurants are going back to full capacity, opening up a lot of things,
6:44 am
sporting events and a lot have flexibility to do pretty much what they want and they minimize capacity but they don't have to so we are in a good spot and we are moving toward rebuilding this american economy and georgia economy that's one of the best in the country and we have to keep it rolling. maria: amen to that, governor. best wish to go that. we will talk soon. we appreciate you joining me this morning. thank you, sir. governor: enjoy, thank you. maria: georgia governor brian kemp. crisis at the border. forcing the trump administration mia culpa rethink construction of the border wall. former acting secretary with us. you're watching mornings with maria live on fox business.
6:45 am
6:46 am
6:47 am
6:48 am
maria: welcome back. homeland security secretary alejandro mayorkas reportedly now considering restarting construction of the southern border wall in order to fill in the gaps they say amid the growing migrant influx. white house press secretary jen psaki spoke yesterday on the current state of the border wall construction. here is what she said. >> the wall construction remains paused to the extent permitted by laws. when the measures took into office, funds had been diverted from congressional appropriated military construction projects and other appropriated purposes
6:49 am
toward building the wall. and while construction was being challenged in multiple lawsuits, under those circumstances, federal agencies are continuing to review plan to submit to the president if there's some limited construction that has been funded and allocated for but it is otherwise paused. maria: joining me right now former acting dhs secretary and fellow at the heritage foundation, chad wolf. thank you very much for joining us. do you think we are hearing a mia culpa from the biden administration on the border wall? chad: i believe we are. president biden indicated on several occasions there would be no new wall construction. i think what you heard from the white house secretary is a nuance for perhaps certain sections of the wall that have been funded. so i think there's a number of things going on, maria. the men and women of cbp and border patrol are pleading with
6:50 am
dhs leadership and the white house to finish sections of that border wall system. they know how effective it is. they know they needed to do their job and so i think the administration is getting an immense amount of pressure from law enforcement officers, the men and women on the ground doing job every day to finish sections of the border wall. maria: yeah, we have been talking about it every day since and you know and our viewers know that joe biden came in on day one and day two and said we are stopping the construction of the border wall. that was one of his first priorities. assess where we are? where are the gaps, how significant are the gaps? who was paid for? was it all just paid for sitting on the ground and they stopped construction, tell us where we are on the wall. chad: on inauguration we had 453, 554 walls of construction and we had another 100, to 150
6:51 am
paid for and we had a number of those miles under contract and that work was beginning in certain sections of the country, that's not only in arizona but also in rgv which is obviously ground zero for the crisis and the surge that we are seeing today. it's critically important that we build border wall systems there in texas and that is the -- those are the areas that president biden stopped construction on and so there were certain areas and certain sections that you would have a mile to two miles in place and then you would have a mile or two of gaps and so the construction crews were working real-time, 24/7 to get the border wall constructed and they need to continue to do so. maria: stay with us, chad, there's all of this wall that has gaps. we will continue our conversation with chad wolf when we come right back. stay with us.
6:52 am
responsible, and even more incredible. ideas start the future, just like that. no one likes to choose between safe or sporty. modern or reliable. we want both - we want a hybrid. so do banks. that's why they're going hybrid with ibm. a hybrid cloud approach helps them personalize experiences with watson ai while helping keep data secure. ♪ ♪ ♪ from banking to manufacturing, businesses are going with a smarter hybrid cloud, using the tools, platform and expertise of ibm. ♪ ♪ ♪
6:53 am
6:54 am
6:55 am
maria: welcome back, i am back with former acting department of homeland security secretary and heritage foundation visiting fellow chad wolf. and chad, i just want to point out that this exclusive report is from the washington times reporter who said that in a conversation with alejandro mayorkas, he said in a conversation with cries employees last week, mr. mayorkas was asked about his plans for the wall and said that, well, mr. biden has canceled the border emergency and halted pentagon money flowing into the wall, that leaves room to make decisions on finishing some gaps in the wall and you just told us a moment ago, the gaps are in the rio grande valley as well as in arizona. i want you to talk to us about what's taking place in these areas because the website for the department of homeland
6:56 am
security removed a press release that was put out earlier this week, that release announced the arrests of suspected terrorists at the southern border, chad. the link to the release now goes to a page telling users access denied. so first they reported that terrorists were apprehended and then they removed it. your thoughts on what is taking place at this wall and why you think maybe this administration is having a mia culpa. we should point out, they haven't confirmed they will resume production of that wall. chad: i think it's important to remember that that southwest border, it's not just minors and family members trying to come across the border illegally. there's cartels, there's criminals and now we no that there's known and suspect terrorists and the incident that you were referencing is cbp or border patrol caught two yemani nationals that were on fbi
6:57 am
terror watch list these are known and suspected terrorists that are trying to come into the country and they did that in the last two months. why cbp decided to pull the press release down, i think that's very interesting. they should be celebrating this type of work. that's great work that law enforcement are doing but underscores the fact that this is a very dangerous border and we need border patrol officers on the line doing their job. maria: yeah, it's not just illegals, it's not just covid-19 but now it's terrorists as well. chad wolf, thanks very much for getting it out there and for your hard work during the administration of president trump. chad wolf. we will be right back. ♪ ♪ ♪ metastatic breast cancer is relentless, but i'm relentless every day.
6:58 am
and having more days is possible with verzenio, proven to help you live significantly longer when taken with fulvestrant. verzenio + fulvestrant is for women with hr+, her2- metastatic breast cancer . . . diarrhea is common, may be severe, or cause dehydration or infection. at the first sign, call your doctor, start an anti-diarrheal, and drink fluids. before taking verzenio, tell your doctor about any fever, chills, or other signs of infection. verzenio may cause low white blood cell counts, which may cause serious infection that can lead to death. life-threatening lung inflammation can occur. tell your doctor about any new or worsening trouble breathing, cough, or chest pain. serious liver problems can happen. symptoms include fatigue, appetite loss, stomach pain, and bleeding or bruising. blood clots that can lead to death have occurred. tell your doctor if you have pain or swelling in your arms or legs, shortness of breath, chest pain and rapid breathing or heart rate, or if you are pregnant or nursing. every day matters. and i want more of them. ask your doctor about everyday verzenio. i'd call my grandfather as a result of the research
6:59 am
that i've started to do on ancestry. having ancestry to fill in the gaps with documents, with photographs, connecting in real time means that we're having conversations that are richer. i have now a closer relationship with my grandfather. i can't think of a better gift to give to my daughter and the generations that come after her. bring your family history to life like never before. get started for free at
7:00 am
maria: welcome back. good wednesday morning, everybody. thanks so much for joining us, i'm maria bartiromo. it is wednesday, april 7th. your top stories, 7:00 a.m. on the east coast president biden tells georgia to smart up over
7:01 am
the new voting law. the state's governor responding to that on this program momentsing ago. >> president biden's line to the american people and our own citizens here in georgia. maria: we are taking you to atlanta this hour. we'll get a look at the economic cost of all of this coming up. the biden administration reversing course, meanwhile, on the border wall. the white house now reportedly looking at resuming construction of that wall in certain gaps. texas attorney general ken paxton is here, weighing in, in the next hour live. markets this morning searching for direction, take a look. dow industrials turning positive by a fraction. we are awaiting minutes from the federal reserve last policy meeting, dow industrials up 15, nasdaq up 7 and s&p 500 up 1 and three quarters. stocks pulled back yesterday after hitting record highs on monday. we had weakness in technology and cyclical names. the dow industrials were down 96, nasdaq down 7 and s&p lower
7:02 am
by 4. global markets this morning look like this. european stocks currently higher, take a look. ft 100 up 53, cac up 3, the dax index is negative, down about 15 points in germany. in asia, more of a mixed story. korea and japan doing well. but just fractionally so. "mornings with maria" is live right now. now some of the top stories we're watching this morning. an unaccompanied migrant child seen begging a border control agent for help after spending the night alone in the desert. >> [ indiscernible ] maria: well, the boy believed to be between 10 and 12 years old was taken to a nearby shelter.
7:03 am
meanwhile, homeland security secretary alejandro mayorkas is reportedly considering restarting some border wall construction to fill in, quote, gaps in the current barrier where migrants are streaming through at record numbers. last month, 171,000 migrants at the border. president biden says that georgia meanwhile needs to, quote, smarten up, if it hopes to avoid businesses leaving the state over its new voting law. this comes after the president said he strongly supported moving this year's mlb all-star game out of the state. when asked yesterday if the master's tournament should follow suit, biden said it was up to tournament organizers, all of this based on misinformation about georgia's law. meanwhile, amazon ceo jeff bezos says he supports an increase in the corporate tax rate. he expressed his support for president biden's $2.3 trillion spending plan which he's calling an infrastructure plan, in a public memo yesterday. according to the institute on taxation and economic policy,
7:04 am
amazon paid a federal income tax rate of 9.4% in 2020. the support comes as amazon faces serious scrutiny over workplace policies. amazon shares are up by a fraction. time for the word on wall street, top investors watching your money. joining me now is chief equity market strategist, phil orlando, the fitzgerald group principal, keith fitzgerald. and former nyc governor, peter costas. thank you for joining me. keith, we are looking at a market that is fractionally higher on the session but i want to zero in on what jp morgan ceo jamie dimon shared in his optimistic outlook, in his annual letter. the letter is out this mornings. he writes this, i have little doubt that with excess savings, new stimulus savings, huge deficit spending, more qe, a new potential infrastructure bill, a successful vaccine and a euphoria around the end of the
7:05 am
pandemic, the u.s. economy will likely boom. keith, jamie dimon is writing in this letter that sees this economic boom lasting into 2023. do you agree? >> i do. i think he's one of the smartest people on wall street, certainly the head of the class in banking, jp morgan has been a favorite investment of mine for a long time. i think they will come in super strong. i think he understands the game being played. i agree wholeheartedly. maria: also he's talking about the major banks having a smaller role in the global economy and he talks about china as well. when you look at a list of the largest banks in the world, the chinese banks are among the leaders on that list. any other standouts of this annual letter where the key themes were the purpose of a corporation, public policy and america's role in the world and banks' competitive threats and the economy. >> well, i think what he's
7:06 am
driving at is something we talk about a lot, how money actually gets moving. that's what i think he's really centered on because jp morgan clearly plays a role in that, between lending and trading, financing it does around the globe, he knows china is key to our growth. whether we like it or not is a different question. he is doing what any savvy ceo would do, looking forward, looking higher. maria: he's talking about public policy which he discussed in the past. the good news is, it's fixable. speaking of jp morgan, peter, the big banks kick off earnings season next week, jp morgan, wells fargo, goldman sachs, citigroup reporting the first quarter. how was the first quarter from your standpoint, what are your expectations from the banks when they report next week? >> good morning, maria. one of the things about the banks is that whenever you -- whenever the earnings season comes by, they normally don't hit it out of the ballpark but they hit right on the numbers
7:07 am
usually. whatever the expectations are, i know that jp morgan's around 285, you know, they're going to probably meet these numbers. what i'm looking for and based on what jamie dimon said this morning, what are their expectations for quarter 2, quarter 3 and quarter 4? that's normally what i look at whenever i see the bank earnings because there's -- generally, rarely a surprise. so it's more about the forward guidance for me and i've been an investor in jp morgan for a very long time and it's done very well and i can't complain about jamie dimon at all. and the other of banks are -- i think everyone's doing very well. one of the things i am keeping a very close eye on are the regional banks. i think the regional banks are the ones -- there's going to be surprises there. just gauged by the way -- i'm sorry. maria: there's certainly some positives in the macro story
7:08 am
which would help the banks, not just the lending environment where things are picking up but also interest rates having ticked up recently. so perhaps we'll hear commentary about that when they report next week as well. >> yeah. they've taken advantage of this lower interest rate environment. but banks traditionally can re-figure their business depending on rates. banks did well with higher interest rates too. the banks are in -- they're in one -- the main business is printing money and the big money center banks have been doing it for a long time. right after they got out of the financial crisis in 2008, with all these different restrictions that the banks had, had they learned how to make money even under those restrictions. so there really isn't a smarter group of people as far as business building and expanding businesses than the banking industry. so i've always been very, very positive on it and i continue to
7:09 am
be. i don't think there's going to be any surprises. i think they're going to continue to do very well. maria: the question is, i guess, phil, what do these new policies mean for the entire economy? banks included. phil, job opening rates rose to 4.9% in february. that was the highest since the year 2000, according to the labor department. the number of open jobs up to 7.4 million, total hires hit 5.7 million. phil orlando, your reaction to all of this and what this means as you model your own portfolio and allocate capital. >> the labor market's on fire. you look at the jolts number yesterday, it was a two-year high, on top of friday's nonfarm payroll report, which is stronger than expected. the thing we have to remember is that yesterday's number was february's data. there's usually a one month lag between the jolts and nonfarm payroll report. that number will be higher.
7:10 am
if the jolts get above the 7.6 million number, that's going to be an all-time record high. the labor market is doing very well. in my view, because of the success of operation warp speed, and the accelerated pace of the vaccine distribution, you've got schools reopening, leisure and hospitality, those workers are coming back, all of that is a positive to the economy and we think that trend is going to continue over the balance of this year and likely into the early part of next year. maria: so phil, is there anything specific about the first quarter that strikes you? i mean, we're going to get these earnings beginning next week. i know the first quarter is not going to have the easy comparisons that the rest of the year will have. let's not forget the economy closed down in march of 2020, so for the bulk of the first quarter you've got normalized comparisons. >> you've got an accelerated cyclicality to the economy such
7:11 am
that corporate earnings in the first quarter we think are going to be up 23% on a year over year basis. the earnings recession is over. and estimates are of moving mov- moving higher. gdp this year, we're forecasting 6.8% for the u.s. economy. that would be the strongest year since 1984, 7.2%. so we're baked in the cake here, based upon what the federal reserve and the trump administration and congress did a year ago, that's going to result in very strong economic growth and corporate earnings this year, we're seeing it in the labor market and i think the earnings season starting next week is going to be a very good one. maria: well, that's a good backdrop for allocating capital, that's for sure. i like that, the earnings recession is over said phil orlando. great to see you, gentlemen. thank you so much. have a great wednesday, phil, keith, peter, we'll see you soon, guys. much more ahead this morning. coming up, the china showdown, china ceo is with us on whether
7:12 am
china will live up to its promises on climate. next hour, ken paxton talks about the new plan to restart the border wall construction. is it an actual plan and when will it be. plus texas' new lawsuit filed yesterday against the biden administration. plus we'll get if outlook on real estate. the younger generation's money habits, how gen z stacks up against millennials when it comes to investing. joining me all morning long, patrice onwuka is here along with lee carter. you're watching "mornings with maria" live on fox business. (judith) at fisher investments, we do things differently and other money managers don't understand why. (money manager) because our way works great for us! (judith) but not for your clients. that's why we're a fiduciary, obligated to put clients first. (money manager) so, what do you provide? cookie cutter portfolios?
7:13 am
(judith) nope, we tailor portfolios to our client's needs. (money manager) but you do sell investments that earn you high commissions, right? (judith) we don't have those. (money manager) so what's in it for you? (judith) our fees are structured so we do better when our clients do better. at fisher investments we're clearly different. ♪♪ ♪♪ ♪♪ ♪♪ ♪♪ comfort in the extreme. ♪♪ the lincoln family of luxury suvs.
7:14 am
[announcer] durán catches leonard with a big left. ♪♪ you can spend your life in boxing or any other business, but one day, you're gonna take a hit you didn't see coming.
7:15 am
and it won't matter what hit you. what matters is you're down. and there's nothing down there with you but the choice that will define you. do you stay down? or. do you find, somewhere deep inside of you, the resilience to get up. ♪♪ [announcer] and this fight is a long way from over, leonard is coming back. ♪♪ ♪♪ ♪♪ maria: welcome back. amazon ceo jeff bezos is speaking out in support of president biden's corporate tax rate increase and the massive spending. the tech giant's founder says
7:16 am
his company looks forward to seeing the u.s. government's progress on the plan. joining me now is advancing american freedom co-chairman, former vice president mike pence's chief of staff, mark short. thank you for joining us. >> good morning, maria. thanks for having me. maria: well, first let's talk about your new group and what you're intending to do. there is a lot of pushback on president biden's radical agenda from the economy to the border to the xl pipeline, what are you intending to do with the new group? >> well, thanks, maria. there's no doubt, the biden administration has lurched the country dramatically to the left. i'm not sure that's really where voters were looking in 2020. i think the reality is that when donald trump was elected president with mike pence as vice president, it brought a new movement and group of voters into the conservative movement. i think the vice president's heritage is within the
7:17 am
conservative movement and traditional values that millions of american voters hold dear and donald trump brought in millions of new voters focused on our trade inconsistencies, focused on taking on china, focused on securing the border. it created a winning coalition and terrific partnership. mike pence is looking to chair this new organization in a direction that continues to fuse the different parts of our movement together because that's a winning formula that accomplished so much for the american people over the last four years. and that's where we need to take this country again, is back into the traditional foundations of freedom. maria: yeah. and of course the former vice president launched this, advance american freedom, a policy and advocacy organization to promote those pro-freedom policies because on day one president biden walks in and starts overturning things. mark, tell us what you believe to be the most vulnerable parts of this agenda and what needs to
7:18 am
go back to the trump era. we've been talking this morning about the potential mea culpa that the administration is going to be making when it announces that it will resume some construction of the border wall. we don't have confirmation from the administration yet but it appears that mayorkas, the secretary, is saying that there is an opportunity to fill in the gaps. is that something you'll be focused on or is it more economic related policy, mark? >> it will be across the board, maria. to your point on the border, the trump, pence administration secured the border and it's not surprising that when you return to the obama/biden administration policies of catch and release, you create this crisis. in your last segment you were talking about the tax policy. and the terrific tax relief that the trump/pens administration brought created more than 5 million new jobs in just two years. they lowered unemployment to 50 year low.
7:19 am
the biden administration wants to go back to tax and spend policies of the liberal left. when you talk about the corporate rate going back up to 28%, that puts us back in the top couple countries of developed nations across the globe that have the highest tax rates. it gets us higher than communist china. it's going to force jobs overseas and kill jobs and kill our economy. but we're all focused on the corporate tax rate. that revenue, raising it back up to 28%, is only going to generate a quarter of the tax increases that this biden administration wants to impose upon all americans. it's going to crush middle class america and it's going to send our jobs overseas. so absolutely i want to advocate against the -- champion all that was accomplished in the judicial branch. maria: i've got to say, this agenda looks more radical every day. i love the cowen washington research group info, because
7:20 am
they really hit all the most important issues for the investment community as well as regular americans. they're talking about the macro legislative framework for the next 12 months coming into focus. they say these are the five top -- on top of the $1.9 trillion bill. the question they're asking is, is the fiscal year 2021 reconciliation bill unlimited revisions? in other words, are the democrats going to try push everything through reconciliation? we're waiting on a china industrial policy right after easter. we are waiting on a $4 trillion recovery bill which is -- then you've got the debt ceiling, budget benefits deal, a highway bill and year-end tax ex tenders. in terms of the economic policy, where do you think this is going? i mean, you're talking about serious tax increases. your reaction to the impact that will have on an economy that is resuming growth right now?
7:21 am
>> well, maria, as you said, we're just coming out of the pandemic and the foundations of the economy that was set by the trump pence administration with the low corporate tax rate is a terrific foundation for us to continue to thrive. the crushing taxes they're talking about would send certainly the economy back down into a tailspin. when we talk about the other tax increases that they're proposing, pete buttigieg was on tv saying he wants to propose a user tax, for every mile you drive you get a certain tax increase. that's going to crush the trucking industry and it's going to raise prices on goods shipped across the country, going to crush middle class voters who need to actually go to work and drive to work. chairmandifasio was talking about putting in a tax increase. it's a tax increase that will crush middle class america. maria: it's funny to see pete
7:22 am
buttigieg talk about this and drive his suv up until a block away to where he has to go and take his bike out of the suv and drive for the rest of the block on the bike. thank you for joining us this morning. it's good to see you, mark short. >> thanks, maria. maria: coming up, talking about small business in atlanta bracing for losses after the major league baseball decision to move the all-star game, a live report coming up. ♪ ♪ ♪ ♪ ♪ ♪
7:23 am
7:24 am
7:25 am
maria: welcome back. major league baseball's decision to move this year's all-star game out of atlanta will cost small businesses there to suffer. edward lawrence is in atlanta with more on this angle. edward, good morning to you. >> reporter: good morning, maria. you know, these businesses are coming out of the coronavirus shutdown, they're trying to survive and keep going and now
7:26 am
to lose the all-star game is a huge blow. the governor says that it's going to hurt the very people that the commissioner of mlb baseball says the law discriminates against. the cob county tourism bureau says this area will lose $100 million for that week alone and that's including minority businesses, not just all businesses. but the governor says that baseball moves -- it's ironic, moves from a city that's 51% african-american to an area that's 9% after a can american. the governor says now that georgia voting allows 17 days of early voting and cholera he dough -- colorado allows 15 days of early voting. listen. >> all the ceos of these companies that are in new york and new jersey and former ceos that are pressuring people like delta and like major league baseball, coca-cola and others, they should be truthful with people. they should look at their own damn laws in their own states.
7:27 am
they're more restricted than ours are. >> reporter: and the governor is very concerned about this. he says this all boils down to house speaker nancy pelosi and chuck schumer trying to federalize elections across the country. people i've talked to from airports, gas stations, hotels, they're all very upset, doesn't matter what color or religion they are, doesn't matter what affiliation, democrat or republican. they are very upset that major league baseball moved this game because it's economically going to hurt this city. back to you. maria: yeah. and it's also based on misinformation. there's that. it's not even true. edward, it's great to see you. thank you so much. edward lawrence is live on the ground in atlanta. coming up, we look at the new global outlook for economies across the world. the u.s. versus beijing in technology dominance. we're going to take a look.
7:28 am
then, the celebrity trust game, americans are ready to see big stars in the political field, it's making a buzz this morning. stay with us. ♪ (vo) ideas exist inside you, electrify you. they grow from our imagination, but they can't be held back. they want to be set free. to make the world more responsible, and even more incredible.
7:29 am
ideas start the future, just like that.
7:30 am
7:31 am
maria: welcome back. good wednesday morning, everybody. thanks so much for joining us, i'm maria bartiromo. it is wednesday, april 7. take a look at markets this half hour. futures are searching for direction this morning, the dow industrials are higher by 9, the nasdaq is lower by 6. we are awaiting the minutes from the federal reserve's last policy meeting. we'll get that this afternoon. so ahead of that, quiet morning. stocks are pulling back yesterday after hitting records on monday. so it's been a mixed week, weakness in technology yesterday along with cyclical names weighed on the broader. averages.
7:32 am
the s&p 500 was weaker by 4. global markets are mixed. european stocks this morning are higher across -- well, the dax index is lower. the ft 100 in london is up, 50 points. the cac is up 5. but the dax index in germany lower by about 8 points right now and overnight in asia, more of a mixed story, take a look at the indices where you see fractional moves across the board. meanwhile, this. chilling surveillance video shows the moments after a navy medic shot two sailors at a business park in maryland. cheryl casone with details now. cheryl: good morning. that video shows one of those victims stumbling into a nearby business, soaked in blood and pleading for help. the alleged shooter was killed by military personnel after speeding through a gate, about 10 minutes away from the business park. investigators are looking for a motive this morning. one of the victims remains in critical condition as of now.
7:33 am
well, toshiba received a proposal for the company that could be valued at more than 20 $20 billion. the offer has the potential to be one of the largest leveraged buyouts in history and largest ever to happen in asia. toshiba is awaiting further details and will consider the offer. any deal would require the approval of the japanese government. katlyn jenner is reportedly eyeing a run for governor of california. axios is reporting jenner is currently talking to several political consultants. this comes as current democratic governor gavin newsom faces a recall election later this year. the report said that jenner would challenge newsom as a republican. and finally, this, maria. general motors announcing it's going to make an electric version of the chevy silverado pickup. gm plans to phase out its gasoline and diesel powered cars
7:34 am
by 2035 and they also want to deliver 1 million electric and driverless vehicles by 2025. let's take a look at the stock in the premarket, it is fractionally higher. those are some of your headlines from here. back over to you. maria: cheryl, thank you so much. the economic rebound of 2021 is on, the international monetary fund reporting it's expecting 6% global growth this year. imf is expecting 6.4% u.s. growth and growth in china of 8.4%. jp morgan chase ceo jamie dimon writing about china, saying chinese leaders believe america is in decline. he writes this. the chinese see an america that is losing ground in technology, infrastructure, and education. a nation torn by cripple -- torn and crippled by politics as well as racial and income inequality. unfortunately recently there is a lot of truth to this. the tragedies of this past year are only the tip of the iceberg.
7:35 am
they merely expose enormous failures that existed for decades and have been deeply damaging to america, writes jamie dimon. joining me now is the ceo of the china beige book, leland miller. leland, great to have you back. welcome back. thanks so much for being here. i want to get your take on this competition between the u.s. and china. should we believe that the economy there is growing 8%, which is what the ccp told us to expect. do you believe these numbers? >> i think 2021 the he question is not going to be how much these economies are growing but how much they're allowed to grow. look, you're coming off a base year where covid wrecked the global economy. it hurt china less than others. you'll see explosive growth in china, united states and other of places. the big question being how much are the chinese anders going to pull back on credit. you look at the credit data, you see they're worried the pandemic is over, the stimulus measures they used to assist with the
7:36 am
coronavirus recovery are maybe needing to be pushed out, not relied on anymore. so if the chinese want to grow 8%, they'll grow 8%. the question is whether they're more worried about out-of-control debt and i think that's what we're looking at right now in our data. maria: well, you've got $28 trillion in debt in the united states and the world is facing a global microchip shortage. you're concerned that the democrats and the biden administration are addressing the problem incorrectly. walk us through what the issues are, leland. >> well, look, people are looking at semiconductor as maybe the issue in 2021. and they're right to do that. but we've got two completely different issues going on right now. the first is global semiconductor shortage which is cyclical. it's a result of supply chain breakdowns and some demand issues, car companies canceling orders during coronavirus, sanctions on chinese companies. so you have right now a global semiconductor shortage.
7:37 am
but that is completely different from the issue that really government should be focused on most which is at the very top of the semiconductor food chain, is the united states producing enough advanced chips, the most advanced chips that go into weapons and go into next generation technologies like 5g and a.i., that's a totally different -- it's a structural issue. it's a totally different type of problem than the first and right now policy makers are so eager to spend money that the two problems are been conflateed under the idea, let's throw money at the problem and that can be a dangerous way to approach this. maria: leland, we know the ccp wants to overtake the united states as the number one super power and the challenges go beyond just semiconductors. i want to ask you about the olympics in beijing. last night the state department denied it is planning to boycott the 2022 beijing olympics alongside global allies after a
7:38 am
spokesman initially suggested the possibility during a press briefing earlier on tuesday. you've got a tweet out today from secretary mike pompeo discussing the fact that the olympic committee gave uniform contract to the chinese company with xinjiang ties so they're being made in xinjiang, the affiliated factory. they openly advertised its use of the xinjiang cotton where you have a million uyghurs locked up. another issue came up, a different guest recently, will they be taking our athletes' dna? there are so many issues related to this story. mike pompeo writes this, imagine forcing an american to wear an olympic uniform made by slaves in china. what will the values of coca-cola demand? your thoughts on the beijing
7:39 am
olympics, leland? >> i think it's going to be extremely big issue as we come to the olympics next winter. people are just peeling back the onion in terms of supply chains that are linked to xinjiang we talked about cotton and tomatoes that are getting a lot of attention, polysilicon that goes into the next generation green technologies. most of the world's supply comes from xinjiang. right now western businesses are being told use xinjiang labor, sometimes forced labor, or you're anti-china and western businesses are not allowed to do that. so as this problem builds up and western businesses are being told to choose, this is just going to put more pressure on the united states and other western governments to counter pressure china by saying they're going to boycott the olympics. i think this is going to escalate into the fall. it's a really big issue and there's no easy way out for the chinese. maria: yeah, but leland, i
7:40 am
mean, the tests are happening all over the place. good story in the journal this morning, biden's great power test begins, about the u.s. navy announcing that the theodore roosevelt carrier entered the south china sea for routine operation as the chinese maritime militia standoff is happening with the philippines. we know the ccp is bullying its neighbors in the china sea. then you've got president biden talking about what he wants glia matt promises from -- climate promises from china. here's a news flash, china's bitcoin emissions could spoil the climate change goals. the country is on track toy mitt 130 million metric tons of power for bitcoin mining by 2024. my view, i don't think that beijing -- china currently accounts for nearly 80% of global bitcoin block chain operations, it's probably unlikely that china is going to change its ways just to meet joe
7:41 am
biden's climate targets and then of course you've got the u.s./china policy, where are we? yesterday our reporter, peter doocy, asked president biden if he's had the discussion with xi jinping about where the coronavirus originated. he said it didn't come up. here's the exchange between president biden and peter doocy. watch. >> have you had a chance to speak to any of your international partners, any -- has president xi, the one you go way back with, have you had a chance to ask him if these reports are true that china maybe misled the world from the beginning. >> i have not had that conversation with president xi. thank you. maria: well, i mean, my question was, why not? why hasn't that conversation -- isn't that one of the most important conversations as far as china is concerned? >> well, i mean, i guess the question is, do you expect him to tell the truth if he actually knows the answer? look, there are enormous
7:42 am
tensions in the relationship right now. i think people are -- people want to have more information about coronavirus' origins and because they don't have good information and they don't trust the information coming out of china, there's a lot of pushback on anything the chinese claim on this, so that's one source of tension. south china sea as you mentioned. this is a relationship that's really deteriorating right now and i think that the deterioration will continue until the united states makes its decision on the olympics in the winter. maria: do you have any sense of what the u.s./china policy should be or will be? >> i think a lot of it right now is a continuation of the tougher trump policies. but i think the biden team's delays on it, they want to bring more and more countries into the coalition, whether it's securing supply chains more broadly with allied nations, whether it's creating a broader pushback on china and the south china sea
7:43 am
using allied nations, so it's basically the same, a continuation but try to bring in morale lies at this point. maria: all right. we'll be watching that. and certainly spotlighting it. leland, always a pleasure to see you. thank you, sir. >> thanks, maria. maria: leland miller joining us. coming up, raising the corporate tax rate, former council of economic advisors chairman kevin hassett is here to discuss the tax plan and amazon's decision to back the $2.3 trillion spending package coming up. the younger generation's money habits, how gen z stacks up against millennials when it comes to investing. you're watching "mornings with maria" live on fox business. stay with us. 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
7:44 am
and building your future. edward jones. it is time for investing to feel individual. it is time for investing toi have the power. to lower my a1c. because i can still make my own insulin. and trulicity activates my body to release it. once-weekly trulicity is for type 2 diabetes. most people taking it reached an a1c under 7%. trulicity may also help you lose up to 10 pounds and lower your risk of cardiovascular events, whether you know you're at risk or not. trulicity isn't for people with type 1 diabetes. it's not approved for use in children. don't take trulicity if you're allergic to it, you or your family have medullary thyroid cancer, or have multiple endocrine neoplasia syndrome type 2. stop trulicity and call your doctor right away
7:45 am
if you have an allergic reaction, a lump or swelling in your neck, severe stomach pain, changes in vision, or diabetic retinopathy. serious side effects may include pancreatitis. taking trulicity with sulfonylurea or insulin raises low blood sugar risk. side effects include nausea, vomiting, and diarrhea, which can lead to dehydration and may worsen kidney problems. i have it within me to lower my a1c. ask your doctor about once-weekly trulicity. labradoodles, cronuts, skorts. (it's a skirt... and shorts) the world is going hybrid. so, why not your cloud? a hybrid cloud with ibm helps bring all your clouds together. that means you can access all your data, modernize without rebuilding, and help keep things both open and secure. that's why businesses from retail to banking are going hybrid with the technology and expertise of ibm. opportunities are all about timing. so if you're turning 65 or retiring soon,
7:46 am
it's time to take advantage of a plan that gives you more for your medicare dollar: an aarp medicare advantage plan from unitedhealthcare. call unitedhealthcare today to get $0 copays for all primary care doctor visits, $0 copays on preventive dental, and $0 copays on hundreds of prescriptions. in 2019, members saved an average of $7,200 on prescriptions. you'll even get free annual eye exams, and free designer frames. don't miss your shot. if you're turning 65 or retiring soon, learn about our wide choice of plans, including ppo options, call unitedhealthcare today. we'll walk you through your choices and find the right plan for you. catching a good opportunity is all about timing. so, enroll today, before the moment slips away. it's time to take advantage.
7:47 am
maria: welcome back. generation z will see significantly lower returns on investments than those of previous generations according to a recent report by credit suisse, the report forecasts annual returns on a 70/30 portfolio of stocks and bonds could equal 2%, less than a third of the returns of baby boomers with the same 70/30 portfolio. joining us now is the author of zconomy. jason dorsey. thank you for being here. what's behind the findings. >> the findings are scary if you're in gen z or a parent or grand parent of gen z, that means the generation is not set up to benefit from public markets. the traditional save your money,
7:48 am
invest, over time you'll be able to do these things, looks like it may not happen for this generation. you may remember, this is the generation that was the number one generation to be laid off during the pandemic. number one generation to have a reduction in hours, number one generation to have a reduction in pay. we have an entire generation that's being set up for financial stress because of what we're seeing today and not to mention you're going to have higher taxes, all this stuff going forward. so if you're a gen zers and you're watching, you need to start saving and investing now, yesterday is when you should have started. we've got to get the message to the generation that they need to take action now. you won't beable to catch up if2 or 3% and you start saving when you're 35 or 40. it's not going to happen. what's interesting is this generation does not believe that social security will be there for them. so it's sort of an interesting challenge. in if they invest now, they're not going to make money like the other generations. they don't believe that social
7:49 am
security will be able to provide for their needs in the future so they really are in a tough spot. maria: yeah. by the way, i think i agree with them on social security. lee carter, jump in here, because we're seeing and hearing lots of different characterizations and narratives about this younger generation who by the way will end up paying for president biden's multi trillion dollar spending bill. he's calling it, quote, a once in a generation investment, lee carter. what is your assessment of what you're hearing? lee: well, there's also some inconsistencies here, right, because they want financial independence but at the same time they're going to want the government to support them and there's very much of a cultural belief among younger people that it's government's role to take care of us, collectively. so i think that they -- despite the fact that they think that social security isn't going to be there, i think they believe that the program should be there to support them should they need it. and so in many ways it's
7:50 am
an issue of how you get people to take responsibility for themselves. and it's a cultural phenomenon that the younger generation is going to have to come to terms with because ultimately they're going to be in control of their own destiny. maria: jason? >> yeah, you know, it's interesting. we did a study on this. what we found was that gen z is the only generation that believes, a majority of them, in universal basic income. none of the other of generations in the united states, majority of them, believe in ubi happening. so to lee's point, you're right. they do believe that the government will step in. it's interesting, if we look at their age, right, if you say the old ofest are 23, 24, they don't remember 9/11 -- the government stepped in and mailed checks to people or put money in people's bank accounts. that's all they will know. there is this reality they may not be able to benefit from the stock market and they think the
7:51 am
government is going to save them. the question i ask is when, is this something that continues now or do you think when you're older they'll step in. when is that going to hatch and that's what we don't know about yet. are they banking their future on that. i think that's risky when we need to teach them about financial habits and help them be successful, pay down college debt, do these things that can do. this is the number one generation that wants to save money. it's not like they're blowing their money. they don't have the jobs, they're getting paid less, they have fewer hours and now we know they won't make the same return on the stock market. maria: unfortunately, parts of that generation and generations behind it are also out a year of school so that will also make things difficult once they start looking for a job. jason, thanks very much for the sobering news, we will watch this story. coming up, the celebrity trust game, americans ready to see big stars in the political field,
7:52 am
it's making a buzz this morning. wait until you hear this one. stay with us. ♪ just over a year ago, i was drowning in credit card debt. sofi helped me pay off twenty-three thousand dollars of credit card debt. they helped me consolidate all of that into one low monthly payment. they make you feel like it's an honor for them to help you out. i went from sleepless nights to getting my money right. so thank you. ♪ ♪
7:53 am
7:54 am
[text messages spoken]
7:55 am
cdrone714: open the door! cam! so thank you. come, on cam, cameron. maria: welcome back. time for the morning buzz. first up, americans want to see hollywood celebrities run for office, 58% of people polled say they want to see dwayne the rock johnson run for president and matthew mcconaughey run for governor of texas, the rock and mcconaughey have expressed interest for running for office. what do you make of this? patrice: i think you have two celebrities with wide appeal. they definitely tend to play characters that take on tough
7:56 am
challenges and they're able to solve them, whether through braun or brains. what i thought was interesting about this, the poll, is that 81% of people said they actually think a hollywood endorsement carries some weight. it tells us that hollywood continues to have more sway in the political area than we thought before. maria: lee, what do you think? lee: i think it's a statement on how disappointing the field is right now. that this is where we're looking to for leadership. i think these are two actors who are very relateable to the american people. i think a lot of people view them as on their side, like them, and i think that there's a big antagonism toward typical politicians and certain kinds of leaders. i think people are looking for something different, people that have empathy. that's part of the reason why these two men are so popular. maria: all right. we'll take a break and then
7:57 am
we're looking at tax policy, former council of economic advisor chairman kevin hassett is here to discuss amazon's decision to back the massive spending package, 2.3 trillion. it all starts next hour. "mornings with maria" is live on fox business. stay with us. ♪ i keep and falling in and out of love with you. ♪ i never loved someone the way what i love you. ♪♪ you can spend your life in boxing or any other business, but one day, you're gonna take a hit you didn't see coming. and it won't matter what hit you. what matters is you're down. and there's nothing down there with you but the choice that will define you. do you stay down?
7:58 am
or. do you find, somewhere deep inside of you, the resilience to get up. ♪♪ [announcer] and this fight is a long way from over, leonard is coming back. ♪♪ ♪♪ ♪♪
7:59 am
hey frank, our worker's comp insurance is expiring, should we just renew it? yeah, sure. hey there, small business owner. pie insurance here with some sweet advice to stop you from overpaying on worker's comp. try pie instead and save up to 30%. thirty percent? really? get a quote in 3 minutes at wow, that is easy. so, need another reminder? no, no no, i'm good. uh, yes please. oh. ho ho ho, yeah! need worker's comp insurance? get a quote in 3 minutes at .
8:00 am
>> welcome back. good wednesday morning, everybody. thanks for joining us. i am maria bartiromo, it is wednesday, april 7 your top stories right now 8:00 a.m. on the button on the east coast, corporate america feels progressive pressure, over georgia voting law the state governor kemp earlier on this program talking to me about the business community
8:01 am
decision. >> they told us like a wet dishrag to the cancel culture it is woke in real life americans georgians should be scared. >> more on fallout of companies responding to falsities the biden administration reversing course on border wall white house reportedly looking at resuming construction of the brl where gaps ken paxton here coming up next 10 minutes futures searching for direction this morning, take a look, we are awaiting minutes from the federal reserve last policy meeting we will get that information about 2 pm eastern into open dow industrials up 5 points nasdaq down even s&p 500 also turning negative down a quarter point right now, this after stocks pulled back yesterday, after record highs on monday, yesterday weakness in technology cyclicals on broader averages dow industrials down 96 nasdaq down 7 s&p lower by four
8:02 am
points global markets mixed european indices, you see ft 100 up 40 points the cac quarante in paris turned negative down 3, dax lower by 26 asian markets mixed as you will see best performer overnight korea off a third of one percent on kospi "mornings with maria" is live right now. >> meanwhile, the ceo amazon jeff bezos speaking in support of president biden corp tax rate increase says his company looks forward to seeing u.s. government progress on the plan, supporting 2. trillion-dollar in massive spending, and increase in tax rates joining me right now former white house coins economic viruses chairman hoover institution lindsey group distinguished visiting fellow kevin hassett all morning long lee carter patrice lee, great to see everybody thank you so much
8:03 am
for being here kevin it is great to have you thank you for joining is your take on what we are seeing out of administration on economic policy. >> right. well you know infrastructure bill we have to start calling it something else i think that the first fining it is is the "green new deal" if you look at all the subsidies, alternative energies the second thing it is biggest tax hike corporate tax hike in history, i think that one of the things that people confused about we are going to set straight right now, i know you understand this already maria, is that you know when president trump came to office we had highest he corporate tax in the world wages had not grown for about a decade, because everybody was locating plants overseas we cut rate to 21% corporate side only cost about 300 billion dollars because at the same time we did all this base broadening to make it so i can cut rate without losing a lot of revenue what biden is doing taking rate back to 28% so seems like going halfway to where we were but worse than
8:04 am
that because keeping the base broadening, so raising maybe two trillion dollars over 10 years, if you think about it means that the biden tax plan, is to take corporate tax code and make it much, much bigger and more onerous than when president oeb left of these tax hike to he obama tabs code unthinkable that is going to happen. but if they do it if they can really ram that through what is going to happen that is companies are going to flee the united states, basically like a stampede. >> this is exactly what i have been saying kevin i've got to tome you yesterday, i spoke with mark zandi, who said there was no benefit from the tax cut 2017, i was just -- i was awestruck, there is op-ed in have journal i completely -- >> indefensible -- on show let me show him charts see how he
8:05 am
responds that is a reprehensible statement absolutely falls so many things can point to he put out estimate of what trump districts would do one hundred percent dead wrong anyone, i have no idea. >> well, look, it is all in today's journal op-ed, and the title is biden aims at profit hits worker highlights how 2017 tax cuts helped economy and the editorial borrowed rates enhans profits arise a rise in economic growth caused wages to spike longest recovery of postwar era all helping working people of america the journal rights the big difference here is a little bit of extra growth created what is full revealed in census figures when being in growth in 2019 was most broad based best every recorded in a single year, the poverty rate fell the most, in
8:06 am
a half a century. that is really an important point, nonetheless i tried to explain all this yesterday to moody's analytic chief commitment mark zandi he argued a different position here is what he said watch. >> -- tax tax cuts -- back in 2018, there is no evidence, at least no discertainable impact on business investment productivity or gdp, it is just not in the data. . >> -- i put it back -- >> -- >> kevin. >> first called it 2018, called it 2018 tax cut even got the year wrong that should be a clue down the know what he is talking about look at 2017 cbo forecast from before, summer before tax cuts what happened to economy after that everything skyrocketed capital spending up a heck of a lot stayed much hi lef capital
8:07 am
growth up wage growth you and i walked when i was in white house 4,000 dollars over 3 to 5 years xk income for family family two years after tax cuts passed after a decade stagnant growth because they listened to people like zandi, income growth to average family worked exactly the way we said if it hadn't been for pandemic would have careded into 2020 as well, but the point is they are not taking this back, halfway to where they were, under president obama taking us to highest corporate tax on earth much, much higher than it was when president trump took office, there -- imagine, are if hillary clinton won first thing did have a big corporate tax hike on top of the highest corporate tax i think even, you know, left wing democrats would oppose that that is what they are pushing right now the fact is zandi is out there saying you can go to highest corporate tax -- you can have a 1.7 trillion-dollar hike over what obama gave that is not going to affect the economy i mean just goofball
8:08 am
city i want believe he would go on tv and say that really, really -- over that. >> urge viewers to read op-ed goes through it all, the -- the real median household income hit highest level ever for african american his panick asian margin workees poverty rate lowest for children 14.4% lowest individual 10 1/2% families 81/2% households headed by in married women 22.4% the impact of higher taxes, overturning the trump tax cuts, because we are going to hear more about tax increases there is no way o you are getting the revenue, that they need to pay for this new green deal they are calling infrastructure, by just raising corporate rate we're going to hear more about tax increases, on families, making 400,000 dollars collectively, 200,000 dollars
8:09 am
per individual, in that family. what is the impact in 2021, 2022 in your view? >> a right, what is going to happen is that u.s. businesses are going to flee like nothing you have ever seen abroad, the way they do it is they basically just merge with a foreign company, then declare that their headquarters is where that company is domiciled if they do that they are basically, going to be taxed like people from that country, and under biden plan there is no country you can spin globe and whack with a pin that country is having a much lower corporate tax than we do so if you merge with a foreign company you are going to cut the value or the tax payment a lot increase value of your a lot going to do that like crazy as soon as tax bill is passed not jobs left in u.s. another decade of no wage growth just like we had with obama but going to be worse because a big tax hike rolls into it.
8:10 am
>> unbelievable what happened under obama a string of conviction from american companies acquiring irish companies corporate rate in ireland 9%, we are up there at 35%, discussed this written about this many times kevin great to have you please come back soon we need more time to get further into issues this will be a topic, we will be talking about, often, kevin thank you so much we will see you soon kevin hassett, texas attorney general ken paxton is with me next. (vo) ideas exist inside you, electrify you. they grow from our imagination, but they can't be held back. they want to be set free.
8:11 am
to make the world more responsible, and even more incredible. ideas start the future, just like that.
8:12 am
8:13 am
>> welcome back texas attorney general ken paxton filing a lawsuit against biden administration, accusing the federal government refusing to take custody of illegal immigrants after released from texas pris homeland secretary mayorkas reports considers
8:14 am
restarting construction of the southern border wall number one priority of president biden when he first came into office, now we understand, in order to close the gap, amid growing surge of migrants rethinking this texas attorney general ken paxton joins me right now to talk more on all of this ag taxh paxton great to see you. thanks very much for being here first walk through your lawsuit, tell us what you are accusing the government of doing, and how it is impacting texans. >> pretty simple, texas and louisiana, the attorney general against federal arguing not enforcing federal law it is required that if texas is holding a prisoner that committed a felony once released isis is to issue a detainer supposed to support of these people they stopped issuing a lot of detain rs people are released into the public, after having committed felonies and other crimes in our states.
8:15 am
. >> unbelievable, so, have you gotten a response yet from the government? i understand that there are a lot of issues, that you have that you have raised your hand about, from the xl pipeline to border obviously, to now this. >> yeah, that is we sent letters various issues get no response so we are forced to file a lawsuit, to bring attention to it, and to try to stop, what we think is illegal, we know is illegal, they are not allowed to just let people back into the country, after of this committed crimes -- actual serve time in state prisons. >> so have you heard back from the administration what are they saying about this general paxton? >> we've got no response, so they will be forced to respond in court, in coming days i am looking forward to hearing their justification for are why felons other criminals should be reeled already here illegally why released back
8:16 am
into american space. >> that is just extraordinary! so many, many news items this morning, i mean you've got web sites department he homeland securitying removing press release announced arrest of suspected terrorists at southern border you talked about this with me before this link to the release now goes to a page telling users access denied not only illegal immigration at the border not only are we seeing, covid at the border come into america now we're seeing terrorists, i spoke earlier in the program with former department of homeland security acting secretary wolf to block this here is what he said. >> either known or suspected terrorists trying to come into the country they did that last two months, why -- they decided to pull that press
8:17 am
release down very interesting should be celebrating this type of work great work that law enforcement is doing, but just under scores the fact this is a very dangerous border that we need border patrol officers on the line, doing their job. . >> general. >> yeah, so i have a lot of respect for chad wolf did a great job homeland security he is right you mentioned increased crime drugs cartels, human trafficking, and now terrorism not surprising you announced the border is open that we will not deport you you find terrorists might find an opportunity to come across the border even more shocking now potentially arrested some people they don't want anybody to know, that that we have this problem. . >> and, you know, illegals already committed crimes roaming through our country the basis of your lawsuit i want to ask what else the fight is about, in texas,
8:18 am
because florida as well as texas have raised your hands censorship i thought interesting to see clarence thomas cakeing tame at big tech yesterday saying facebook and twitter have gotten too powerful the platform suspended president trump's account supreme court dismissed a case allegeing president trump violated first amendment after blocking yoours on social media ken, your reaction to what justice thomas is saying what you are doing to fight the big tech dominance. >> i think he is absolutely right, in dissent talked about two people at goal one at took making decisions about what gets published if three people can control what a president said imagine what they can do to rest of us. it is a serious issue exactly why texas sued google exactly why we are being sued by twitter, huge companies they have more money than most countries they have tremendous
8:19 am
pour ability to hire lawyers lobbyists, to contribute to campaigns, that is all allowed but gives them tremendous leverage, on our culture and the ability to control narrative if we don't find a way to control it soon, are they are going to control the entire narrative, and control speech in this country. . >> also affecting the vote, our elections, i mean let me get your take on voting h.r.1, texas governor greg abbott spoke you the in interview on fox news yesterday saying that if democrats pass hrs, the state of texas will move its election day in order to not coincided with federal elections, you are reaction to all of this, around the georgia law ceos getting involved major league baseball getting involved, all that democrats can have an easier time or convince the public that h.r.1 is -- is a fair piece of legislation, we know otherwise.
8:20 am
we looked at h.r.1, there is absolutely nothing wrong with voter id in fact i would say everybody should have an id to vote, mail-in balloting should not be the standard we know it opens the door to fraud. so your reaction, to what is taking place, around h.r.1, and this new upset over georgia's law obviously, ceos could not have read the law. >> well, i am more concerned about h.r.1 i think most corrupt i have ever seen will create one party rule in this cup move us more like venezuela because it will encourage more mail-in ballots will eliminate verification tries to eliminate voter id only way we know how to verify you are who you say you are companies american airlines delta coca-cola often require security in their places require people to come up with photo ids, argue somehow in elections, that is suppressing
8:21 am
the vote, literally makes no sense it is very concerning to me that these companies are doing this, in light of the fact that all we're trying to do is protect our elections and make sure that voters know that we have credible elections they can count on results as being accurate. . >> so what do you think happened then? do you think they didn't read bill or got rolled over -- activists and mobs on left. >> i know for a fact they i know l.t. governors some companies called asked ceo and of their government he relations people if they had read the texas bill we were passing, election integrity bills here, yeah they hadn't read bills so being encouraged by outside forces to couldn't on things they don't understand, and, two, they might disagree with it if they read what the purpose of the bill is. >> what a shame really, a terrible shame. ken paxton always a pleasure to see you. thanks very much for fighting the good fight we appreciate your time this morning. >> have a great day.
8:22 am
>> we will see you soon ken paxton joining tell us stay with us. we'll be right back.
8:23 am
8:24 am
it's moving day. and while her friends are doing the heavy lifting, jess is busy moving her xfinity internet and tv services. it only takes about a minute. wait, a minute? but what have you been doing for the last two hours? ...delegating? oh, good one. move your xfinity services without breaking a sweat. xfinity makes moving easy. go online to transfer your services in about a minute. get started today.
8:25 am
maria: welcome back mlb president-elect moving all-star game from atlanta to colorado in response to georgia's voting law, georgia governor brian kemp on what happened. >> loaf to it couldn't america to move an event from a state which is 60% white, to a state which is 80% white. atlanta 52% black denver 10% black colorado requires border id how is it possible that these titans of industry didn't even read your new law, and just came out, and rolled over for their progressive
8:26 am
mobs. >> amazing to ceos have government affairs teams that knew what was in this bill that were fine with it they didn't even bother to check with them because they got pressure from the woke. >> so i mean lee, this requires conversation here, i am just trying to understand how it is possible that these chairmen ceos, hugs companies, got this so wrong your reaction. >> like i think really, really complicated, i think these companies are really navigating -- companies take a stand many ways causing huge problems unintended consequences when you look at what people think about the voting laws, most people actually support what georgia did especially as it comes to voter id nine in 10 americans think we should require idin order to vote some other
8:27 am
things, you have more people supporting georgia law 42% support them 36% oppose. then you look how people are supporting what mlb did more say mlb should have right to do what they did agree with decision, so this in these cases contradiction not rationale an emotional visceral moment companies read too to tread very, very contemplative many people agree with them you make stances you have to tread very, very carefully long-term impact to the future. >> part of the reason i think that ceos and major league baseball jumped on this because you've got leader of the free world, joe biden, out calling it jim crow. i mean, he really should come out and explain what he is talking about to american people, he said it again yesterday.
8:28 am
i mean just falsities they are lies. >> absolutely maria, i mean i think using this rhetoric it is effective any time able to draw on history, people's moshgz particularly black referencing jim crow slavery sifts it evokes a motion people assume must be raist law it is interesting when you look at dv stayings to black community 30% businesses run by blacks the ones going to lose out because of the mlb decision, so you know, we've joined a coalition called back to neutral coalition asking these companies ceos just to be neutral not to take sides in some of these issues.
8:29 am
>> you would think so, because their hurting shareholders there is another good op-ed in the journal this morning about that, ceos versus shareholders check that out in we are going to subdue in on real estate the outlook on real estate and zero in on new york, back in a moment. 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.
8:30 am
living with metastatic breast cancer means being relentless. because every day matters. and having more of them is possible with verzenio, the only one of its kind proven to help you live significantly longer when taken with fulvestrant, regardless of menopause. verzenio + fulvestrant is for hr+, her2- metastatic breast cancer that has progressed after hormone therapy. diarrhea is common, may be severe, or cause dehydration or infection. at the first sign, call your doctor, start an anti-diarrheal, and drink fluids. before taking verzenio, tell your doctor about any fever, chills, or other signs of infection. verzenio may cause low white blood cell counts, which may cause serious infection that can lead to death. life-threatening lung inflammation can occur. tell your doctor about any new or worsening trouble
8:31 am
breathing, cough, or chest pain. serious liver problems can happen. symptoms include fatigue, appetite loss, stomach pain, and bleeding or bruising. blood clots that can lead to death have occurred. tell your doctor if you have pain or swelling in your arms or legs, shortness of breath, chest pain and rapid breathing or heart rate, or if you are pregnant or nursing. every day matters. and i want more of them. ask your doctor about everyday verzenio. was that your great-grandmother, keeping the family together? was that your grandfather, paving the way for change. did they brave mother nature... and walk away stronger? did they face the unknown, with resolve...and triumph. ♪♪ there's strength in every family story. learn more about yours. at ancestry. hey, our worker's comp insurance is expiring. should i just renew it? yeah, sure. hey there, small business owner. pie insurance here with some sweet
8:32 am
advice to stop you from overpaying on worker's comp. try pie instead and save up to 30%. thirty percent? really? sure! get a quote in 3 minutes at that is easy. so, need another reminder? no, i'm good. reminder for what? oh. ho ho, yeah! need worker's comp insurance? get a quote in 3 minutes at . maria: welcome back california plans to lift most covid restrictions in time for summertime, cheryl casone with details. cheryl: well that is right governor gavin newsom says california is going to reopen economy by june 15th however this is only going to happen if enough vaccines hospitalization rates remain low there, of course, in georgia, they are going to be lifting covid restrictions that is tomorrow governor kemp was breaking that news with you earlier in the show saying time to open sectors
8:33 am
restaurants have to go back to full capacity sporting events get back to normal in that state great interview between you and governor kemp, going to california newsom is saying that he is still doing to leave mask mandate in place in california even after other restrictions are lifted so if anybody is want to get rid of those in california it is not going to happen another story this morning maria, national coalition of small businesses pushing for stricter antitrust laws including measures hope to force amazon to spin off some business lines they own group wants federal legislation, that would prevent owner of a dominant online marketplace from selling their own products in competition with other sellers also want legal changes to make it easier for the government to win antitrust laws suits against big companies like amazon amazon says changes are going to kill us independent retailers
8:34 am
platform force small businesses out of online stores we are going to watch this story for you, musicians connected with other musicians receiving valuation four billion dollars latest rounds of investment more than tripled since isn't club house in discussion to raise funds four planned valuation popular audio app, during pandemic gotten the million weekly active users for artists to sell content to fans and connect with them finally this -- a clerk may be a thing confident past mar yacht chefbing automatic check in kiosks including in new york city going to check in guests hand out room keyes could apparently serve as giant vending machine cereal coffee,
8:35 am
marriott goal to easy coronavirus fears so they don't interact with staff i am putting that wish for orioles in there otherwise the plan for marriott. maria: i like it think going to resonate thank you so much cheryl casone, new york governor andrew cuomo state legislative leaders planning to introduce four billion dollars in new tax increases in already high tax empire state many businesses have left new york for states with lower or no tax, as well as lower crime rates op-ed in "new york post" michael goodwin's post op-ed cover story of post takes current state of big apple to task writing yet there is something different especially troubling about this time the possibility of permanent decline ument zrubs of new york we know unmatched in modern memory chairman vector
8:36 am
group, howard great to have you this morning we specifically wanted to talk with you because you have such a great pulse what is going on in new york and country as relates to real estate how do you assess new york right now. >> thank you for having me, maria, i guess best way people are -- death of new york city, we have -- better way to look at it, i think -- demand for people living in new york city -- high end jobs some jobs leaving not everyone is leaving, schools. the fear the sporting fends, sort of has everything i think new york will recover the question is how quick will recover the government is not
8:37 am
making it easier by deciding to raise taxes, and sales -- great job, getting 33 billion dollars for new york. new york state, also -- schools, 33 billion there, new bucket wants another four billion increased tax that is not good, that is not good. maria: i think you make a really important point because washington as michael goodwin's op-ed writes washington is spending train loads of money to blue states in new york alone congress has been allocating more than 12 billion dollars to new york state, another six billion to the city, six billion metropolitan transportation authority nine planned to state schools yet raising taxes anyway you speak with lots of owners in real estate
8:38 am
people in the mil of tractions, what are all these higher taxes going to do, to the city? what are you hearing what are the big concerns, when people want to go move in or move out of new york as a result of these taxes? >> well -- people's feelings about staying -- in the state -- it is not that easy for people many that are working, and have kids in school in the city. so i am not you know, it is not going to be -- everyone is not -- but what is happening losing a lot of big tax payers you don't fix deficits raising taxes never seems to work it is by operating more efficiently, no new taxes, spend in economy getting more revenue i don't know why so hard for city, and state governments to understand that, try to go with that.
8:39 am
the because just raising the taxes i think -- and it is at the very lease able to convince colleagues that should restore salt deductions only takes -- 10,000 dollars, that doesn't do very much for anyone making any type of high income earning, real estate with real estate taxes, that is really important, that would not cure the problem but would surely help the problem and people would think better about staying in new york. >> a great point i know that the salt deduction is a really important point for many businesses as well as high earners, new research on real estate says that relocation from fran to texas and florida increased substantially in
8:40 am
2020 overall relocation from those san fran to texas up 33% relocation to say florida up 46% what are you seeing i know you've got people across the country you are seeing the boom that is going on in places like florida. what can you tell us in that regard? >> with trend we are seeing west coast people generally migrating to texas, eastern people generally my, my grait to florida miami palm beach two strongest remarkets in the world right now reversible real estate markets in the world. the very inventory, is at low record lows, prices are record highs getting very hard to find something to buy. and that is also what is going to keep people people leaving, and never coming back to new york. at some point florida is going
8:41 am
to be too competitive -- and -- cheaper people willing willing to say maybe a good time, it surely is good time for new york -- because prices are bound depending on product and location anywhere from 10 to 20, 25% so if selling -- apartment are doing well in new york city. >> i know you see growth trends early on, we had don peebles on he said downturns like in new york could last a decade, 10 years do you agree with that do you agree with downturn in new york perhaps as long as 10 years, and are there investment opportunities now the vector group announcing recently the launch of your view value ventures to vest inform start-ups you
8:42 am
announced new ventures acquired ownership stake, for reare you looking at opportunities how long do you expect new york to look like a barring if you will does it looked like a bargain. >> -- doing it for our -- the whole companies so california, florida, texas -- technology platforms we think make sense, everyone is -- throughout the country again i would say that if you look and you look at where prices were where palm beach prices were six to 12 months ago they are substantially higher when i mean substantially double-digit higher many
8:43 am
properties up 50% some are even up close to one hundred percent over last 18 months, that is -- then what happens the inventory is gone prices get too ridiculous, has to slow down look at new york city complete opposite prices are to some degree ridiculously lower bringing pliers in we had two very strong ones, sales in new york city, in years -- so, people are buying in new york city, these are people that are not mobile not mobile enough to move and say well, i won't pay taxes i want to -- i am going to vote -- go to florida, go to texas, so you know, they have to be in new york the people going to -- as far as 10 years i surely hope not,
8:44 am
okay. i would hope that everyone -- if you see something bad direction you know it changes, change the leaders that may take you know a few years, but i hope not 10 years case 10 years would really be a disaster, not just for taxes we have to worry about crime, we have terrible crime rates begin in new york city when we haven't had for a decade, i hope we get this straightened out. >> a great point i am glad you brought it up because shootings up in double digits people are scared great to get your ask expertise on this thank you so much, sir. >> thank you for having me have a good day. >> howard lorber joining
8:45 am
8:46 am
this isn't just freight. these aren't just shipments. they're promises. big promises. small promises. cuddly shaped promises. each with a time and a place they've been promised to be. and the people of old dominion never turn away a promise. or over promise. or make an empty promise. we keep them. a promise is everything to old dominion, because it means everything to you.
8:47 am
new projects means new project managers. you need to hire. i need indeed. indeed you do. the moment you sponsor a job on indeed you get a short list of quality candidates from our resume database. claim your seventy five dollar credit, when you post your first job at
8:48 am
maria: welcome back, famed theoretical physicist releasing a new book the god equation splaenz how is iffists are searching for one formula with an unlock some deepest mysterious of science talking about it, congratulations on this book tell us some of the most important things you want readers to understand. >> the holy grail of physics to find an equation god equation, equation perhaps to more than one inch long will allow to us quote read the mind of god i first heard
8:49 am
about this when 8 years old, a great scientist hat died a picture of his death on evening news caption said greatest scientist of our time could not finish this book, i was fascinated, i had to know who is this man, i went to the library found out albert eye stein that book was god equation he couldn't finish it unity all laws into equation perhaps no more man one inch long that equation is half an inch long unifies matter with energy we want another equation, unifies the entire universe into equation one inch long. >> questions about space come up i was talk with former director of national intelligence john ratcliffe
8:50 am
about uo sightings listen to what he says fascinating we talk about sightings talking about objectives that have been seen by navy or air force pilots or picked up by satellite imagery actions difficult to explain movements that are hard to replicate that we don't have have technology for, traveling at speeds that exceed sound barrier without a sonic woman things that we are observing difficult to explain. >> a we are getting a pentagon report about unidentified flying objects you say we will likely find intelligent live on another planet within this century tell us about that. >> yes, i am a physicist not only do we work on theory of everything, emphasis on best sellr list i am proud to say intelligent life in united
8:51 am
states we heard ufo sighting by united states navy objects moving between mondaying 5 zigzagging in atmosphere no sonic boom, some sightings can be explained by hypersonic drones. china, russia, americans, all working on hypersonic drills can maneuver in space and can attain mach 20, those can be done in the laboratory but without sonic booms that is really hard to figure out. there could be an advanced technology at work there. maria: that is what i am worried about maybe china advancing ahead of us spying on the planet, machio kaku joining us we will be right back.
8:52 am
8:53 am
wanna help kids get their homework done? well, an internet connection's a good start. but kids also need computers. and sometimes the hardest thing about homework is finding a place to do it. so why not hook community centers up with wifi? for kids like us, and all the amazing things we're gonna learn. over the next 10 years, comcast is committing $1 billion to reach 50 million low-income americans with the tools and resources they need to be ready for anything. i hope you're ready. 'cause we are.
8:54 am
8:55 am
maria: welcome back. time for morning buzz black. cheryl: ed etch yed team up with mitch 95 manufacturer honeywell to make ab mask features noise canceling had phones don't have to move mask to talk on phone available tomorrow for 299 as there are. >> what do you think i divides very functional he saw somebody drop earbuds mask fell off detonates purpose i get what he is trying to do here is the thing though, it is 299 dollars high price point obviously, targeting not
8:56 am
your basic every day person, and as states, start using masks less and less i worn what happens to this business by the end of the year. maria: good point lee not only are you covering your mouth and nose, but now ears covered as well might as well get everything covered, my guess is there is a market for this mask not me i am fascinated by fact ab man trying to get people in public an isolateing mask you can't engage with real world don't we want to get back communicate again? i understand people want this thing looks cool there is a lot of technology around it, but -- i don't know. it is keeping us all in the
8:57 am
bubble. maria: >> more on fox business right after this. ♪♪ but one day, you're gonna take a hit you didn't see coming. and it won't matter what hit you. what matters is you're down. and there's nothing down there with you but the choice that will define you. do you stay down? or. do you find, somewhere deep inside of you, the resilience to get up. ♪♪ [announcer] and this fight is a long way from over, leonard is coming back. ♪♪ ♪♪
8:58 am
8:59 am
opportunities are all about timing. so if you're turning 65 or retiring soon, it's time to take advantage of a plan that gives you more for your medicare dollar: an aarp medicare advantage plan from unitedhealthcare. call unitedhealthcare today to get $0 copays for all primary care doctor visits, $0 copays on preventive dental, and $0 copays on hundreds of prescriptions. in 2019, members saved an average of $7,200 on prescriptions. you'll even get free annual eye exams, and free designer frames. don't miss your shot. if you're turning 65 or retiring soon, learn about our wide choice of plans, including ppo options, call unitedhealthcare today. we'll walk you through your choices and find the right plan for you. catching a good opportunity is all about timing.
9:00 am
so, enroll today, before the moment slips away. it's time to take advantage. maria: big thank you to me and patrice. thank you. read to see you. have a great day. we will see you tomorrow. "varney & co." against right now. take it away, stu. stuart: good morning. remembered the expression, the goldilocks economy? not too hot, not too cold, just right will goldilocks is back. jamie diamond says we are now in a goldilocks moment and he says vaccines, higher savings rates and enormous government spending will keep the economy expanding into 2023. he sees a lasting boom. jamie diamond is a powerful god b


info Stream Only

Uploaded by TV Archive on