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tv   Mornings With Maria Bartiromo  FOX Business  July 20, 2021 6:00am-9:00am EDT

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larry: respectfully yes, mr. biden, you are the survivors will yes mr. biden you're the anticapitalist brit cheryl: good morning, i'm cheryl casone, in for maria bartiromo. it is tuesday, it is july 20th. your top stories, 6:00 a.m. eastern time. tragedy at the border, fox news cameras capturing a flood of hundreds of migrants trying to get past border agents as crossings surpass the 1 million mark this year. and there are new concerns for florida governor ron de santis who said migrants are headed from texas directly to florida. we'll get into all of that all morning long. here we go again, a look at your markets, futures are looking much better than they did
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yesterday morning. we have got a rebound after that dismal day on wall street. as you can see, right now dow futures up 133, s&p up 14, nasdaq up 51 and-a-half. but remember, all three major indices finished solidly in the red yesterday. by the way, that was the dow's worst day since the end of october. as you can see, nasdaq down 152, nasdaq down 68. investors rattled over the spike in covid cases with the delta variant, also worried about another round of shutdowns and what could of mean for the he global economy. the selloff was broad based yesterday. look at what europe is doing this morning, you have a similar story, a he rebound happening in the european markets. the ftse, cac dax are slightly higher for right now. asia overnight, another night of red for asia as you can see, the kospi, hang seng, nikkei and
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shanghai losing ground after the u.s. market drought yesterday. plus, launch day, it is here. jeff bezos and his blue origin crew are ready to travel to the edge of space later this morning. we have got full coverage for you this morning. we're taking you down to texas. "mornings with maria" is live right now. ♪ cheryl: some of the top stories we're watching for you this morning. republicans slamming senate majority leader chuck schumer for setting up a key vote this week on a bipartisan infrastructure package. a procedural vote is expected tomorrow even though lawmakers have yet to even write a bill or strike a deal on how to pay for the $1 trillion package. at least 10 republican votes are needed to advance the shell legislation.
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well, a major settlement between opioid companies and several states is reportedly nearly completion. state attorneys general are expected to unveil a $26 billion settlement this week. new york already striking a $1 billion settlement with three of the companies. we reported it on this show. well, officials are calling for outside help as heat and dry conditions fuel wildfires that are still burning out west. crews in oregon are devoting most of their resources to the massive bootleg fire which burned through 350,000 acres. in california, pg&e revealing its equipment may have sparked the dixie fire, thanks to a blown fuse in a conductor. cases of the covid delta variant on the rise across the united states. health officials say there's been over 32,000 new caseses each day over the last week. that is double of what the
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seven-day average was just 10 days ago. hospitals say patients are being treated and they are younger and they are unvaccinated. well, markets looking to recover some of yesterday's sharp declines. what a difference a day makes, folks. the spread of the delta coronavirus variant, that threat of the new lockdowns, the worries about inflation, the global economy, a lot of things on investors' minds yesterday. as you can see, u.s. futures are slightly up but it was more than just stocks that sold off. remember, we saw this yesterday morning. the 10 year treasury yield right now we're hovering around 1.16%. as you can see here, that's another loss of 2.9 basis points. people are going into the safety of the bond market again. even government bonds. we've got a lot of questions for mark avalone this morning. also joining the conversation, we have the hill media reporter and fox news contributor, joe joeconcha and mitch roschelle.
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it's going to be a big day. i want to start, let's talk about first the market we saw yesterday. it's like investors woke up friday morning, monday mornings and said inflation is too hot, they're worried about growth and we find out the recession was only two months. which again, it should have been. now the second half of the year seems to be in question. what do you say? >> well, the last day we had a drop as big as we did yesterday was back in october and thins then we're up over 30%. so little drops or corrections or scary pullbacks like yesterday really should be expected by investors. as you mentioned, there was a confluence of events and finally the concerns about a covid reemergence really weighed on the markets can. but i think we have to realize what happened last spring when we first saw covid, it was a disease we didn't know about, hospital waiting rooms were
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overflowing and there was a lot of deaths. now we have a vaccine in place. we have remedies. we have an awareness. we have -- as difficult as it may be, it's hard to imagine it being a repeat of last spring. so i think yesterday's selloff was a warning sign to casual investors that stocks do go up and down. but i think as we look out forward, we'll see strong earnings. i think we'll see modest inflation, continued easing. i think it's a good backdrop for investors. cheryl: also gdp, i mean, we still expect to have growth in q3 and q4. we looked at the survey yesterday and we're looking at other numbers today that's showing us as least for 2021 we're at least going to have probably on average maybe 8, 9% growth and even in 2022, 2023, and i ask you this because the markets are always one step ahead. when you wake up and see the numbers, no matter what they are, that tells you that everyone is looking at least a month out, two months out. >> yes. i think most investors realize
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at this point that this current burst that we're having, whether it's in inflation or gdp numbers or even some of these year over year corporate earnings gains, that's going to be short-lived. if we look at 2022 and we have a 4% gdp number, that is something that investors should realize is still very firm growth. even if it drops in the 2 to 3% range which some forecasts have for 2023, that's the rate of growth we were experiencing throughout this bull market or going back to 2009 when the recovery started. slow measured growth means a fed that's not aggressive, it means a more predictable economy with reasonable earnings and it used to be called the goldilocks scenario for stocks. i don't know why all the trepidation is surfacing because we're going to go back eventually to 2, 3 or maybe evena 4% gdp. cheryl: a lot of investors were starting to take profits. we saw that with bank earnings.
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we could see that this week with technology earnings. if you have performers in your portfolio and it's time to take off a little bit of that, that's exactly what you do. and market optimism has been a story here. some of the strategists of out there are saying that there was a little too much market optimism, that we've hit our peak, we hit our peak in the spring. but at the same time, it's the inflation story i think that really is the bigger concern here because inflation's running a lot higher than we expected and if you look at consumer prices, mark, which i know you do, i do the numbers here on maria's show, consumers are really putting up warning signs in particular the surveys that we follow that are saying i'm paying too much for energy, for cars, for travel and i'm paying too much for a home. does that worry you at all? >> not really. in the long run. it is now. we're still at the end of this post pandemic bubble, this burst of activity that we saw. we even have the suez canal
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shutdown and supply chains disrupted. i know of people waiting for golf clubs for two months. everything is jammed up and deliveries for home improvement materials, all of that. we're going to work you through this and i do agree with jerome powell that it is going to be transitory. there are macro forces of technological innovation and aging demographics and even globalization which will return and is returning now, those three massive forces bring down prices. and when we normalize the supply chain and government stops spending on the ultra massive scale that it has been, i think you're going to see a more levelized approach to inflation. that's why i think investors need to look beyond headlines and realize that as this calms down, the fed is not going to raise rates. and i think that's always bullish when you're on the side of the federal reserve. cheryl: yeah. well, they don't raise rates until they see the tea leaves or
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the data in particular. before i let you go, i have to ask about technology companies. we do have earnings kicking off. i've seen some pretty high expectations for the numbers, for netflix, for amazon, for microsoft. we had ibm last night. what are you expecting? >> i'm expecting tech to remain resilient. it's been that way throughout this. even if rates do tick up a little bit, i don't think that whole argument of the present value of future cash flows of tech is worth less. not when you're amazon, alphabet and facebook. you're massive cash flow machines. the technology that concerns us is unproven tech and technology in a rocky market that doesn't have proven cash he flow. specifically, we're going to look at a company like netflix that comes out. frankly, i'm not as interested in what they've done, i'm looking at where they're going and i think winter is coming. people don't want to be in a movie theater with people coughing. people are going to be returning to the comfort of their couch, especially if there's another variant out.
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and netflix has great new production coming out. i think we're going to see positive guidance from netflix. i think that's going to help tech stocks. cheryl: you've got ozark, you've got the crown, a lot of shows coming. that's a really good point. we're going to leave it there, especially on the positive note. thank you very much. another big story that's moving into this morning is bitcoin. this is the morning mover. look at this, we're below 30,000 on bitcoin right now. we are trading below that mark for the first time in nearly a month. it got taken down with the broader market selloff yesterday, nearly $100 billion was wiped off the entire crypto market. it's one of the riskier investments out there. we're just getting started this morning. coming up, questions over china's cyber attacks. former state department senior advisor christian whiten will react to the biden administration's lack of sanctions with china. they're threatening to nuke japan. coming up in the next hour, rnc
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ronna mcdaniel is here on president biden walking back comments that he said facebook is, quote, killing people over vaccine misinformation. plus, today is jeff bezos' big day. he and his blue origin crew are ready for launch in just under three hours from now. we've got live team coverage. we've also got a former astronaut's take as we preview it all morning long. don't miss a moment of it. big mornings on "mornings with maria" and we are live on fox business. ♪ let's move our minds and go crazy, crazy. ♪ keep on hoping we'll eat cake by the ocean
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maria: this week on "mornings with maria," tomorrow, from wall street to crypto, former nyc president tom farly on his new
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venture. thursday, republicans blasting president biden's lack of action on cuba. mercedes schlapp reacts. friday, finish up the week on the word on wall street, expert analysis on smart money plays to make you profit. it's all right here on "mornings with maria." cheryl: the billionaire space race is underway. jeff bezos and his blue origin crew are ready to make history later this morning with takeoff set for 9:00 a.m. eastern time. i should say launch, jeff flock, because here we go. you're live in texas. good morning. >> reporter: launch site one here in the desert out in vanhorn, texas. i think we're a little outside vanhorn, texas. we got up very early this morning, no earlier than the astronauts themselves. yeah, astronauts, commercial astronauts. i want to give you a tiktok to we know what we're dealing with this morning as we show it to you live on fox business later in the morning. commercial space flight, used to be the sky was the limit.
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well, now it's not the limit anymore if you've got enough money to get on board one of these spacecraft. let me tick down how the day is going to go. at 8:15, the as he trough naughts will leave -- astronauts will leave for the launch bad. 8:30 they get into the you tower, climb the tower. 8:36 the hatch closes on the shepherd one, the new shepherd i guess i should call it, the new shepherd, it's an odd toe alan shepherd, the first american in space. 9:00 launch. here's something a lot of people are not clear on. it's going to be a very short flight. about 10, maybe 11 minutes. the booster will land, famously. this rocket that will launch the capsule into space comes back down so it's used again. obviously that makes it commercially viable. the crew capsule lands at about 9:11. the hatch opens at 9:22 and pretty soon we hear from the latest band of astronauts, led by jeff bezos, the richest man
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in the world and will soon be the latest astronaut to get his wings along with his brother and the youngest and the oldest people to ever be in space as well. it should be a special day on this 52nd anniversary, cheryl, of the day that the first man walked on the moon. interesting time. cheryl: july 20th. he picked today, july 20th. when you're worth $1,206,000,000,000, you -- $206 billion, you you go to space. he spent the last 20 plus years working on this. he founded blue origin back in 2000. and he bought all that land that you're standing on back in 2005. so this is quite the dream day, if you will, for jeff bezos. >> reporter: it reminds me almost of disney. walt disney buying swampland in florida. now it's disney world. and he has bought 80,000 acres here in texas.
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this may soon be the disneyland of space travel for a whole host of people as long as they can afford it. cheryl: exactly. oh, yeah, millions of dollars. 28 million to fly i think is the price tag right now. 28 million for 11 minutes. >> reporter: one guy was willing to pay that. i don't know. we would have to pool our money i think, cheryl, to get ourselves a flight. cheryl: the guy who has a scheduling conflict and is now on the second flight. you spend $28 million but you can't make it on your schedule. okay. jeff flock, you're going to be with us all morning long, you're going to be with us through until the launch with jeff bezos. he's going into space today. the launch exactly at 9:00 a.m. eastern time. we're going to preview it of course all morning long. i want to bring in joe joe conca and mitch roschelle. joe, what do you make of today? >> i make of today -- i had to look up walt disney. he brought that up. it's a great analogy as far as buying the swampland in florida. walt disney paid just $5 million
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for 27,400 acres in florida. i'm pretty sure you wouldn't get that deal today. if i had all the money in the world, i was the richest guy in the world i'd go to space. you're probably bored with the yachts and fun stuff you get with money on earth so why not go to space and i would do it. i don't know about you. what do you you think, cheryl? cheryl: i'm good. but you know, he did spend $500 million on a yacht that he's building right now. he's got the cash. again, it's still, -- it's a risk. this is a risk to go into space for anybody. >> it certainly is risky. the thing i noticed here is just as the administration wants to take away people's wealth, let's remember it's the private sector that's pulling this off. it used to take government to get up in space. now it's the private sector that's pooling their own resources and doing this so i think hat's off to innovation that comes from the private sector. cheryl: it's going to be quite an experience and again the
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billionaire's race to space continues this morning, guys. thank you. you're going to be with me all morning long as we cover all of that breaking news. we're also covering this. the vice president's health. the white house confirming kamala harris did take a covid test after meeting with texas democrats. we've got the fallout coming up. b financial consultant. here's andy listening to my goals and making plans. this is us talking tax-smart investing, managing risk, and all the ways schwab can help me invest. this is andy reminding me how i can keep my investing costs low and that there's no fee to work with him. here's me learning about schwab's satisfaction guarantee. accountability, i like it. so, yeah. andy and i made a good plan. find your own andy at schwab. a modern approach to wealth management.
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cheryl: cracking down on china, the u.s. and our allies accusing china of a global cyber hacking campaign. china's ministry of state security is being blamed for a large attack on microsoft earlier this year. president biden says the investigation is not finished yet but is expecting a detailed report today. i want to bring in former trump and george w. bush state department senior advisor, christian whiten of. christian, good morning.
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>> good morning. cheryl: is the biden administration doing enough to deal with the aggression of china right now? >> no, they're not. you know, this is a pretty good start in that it's not just the united states but also nato, the eu and our so-called five eyes intelligence sharing partners, that's countries like canada, australia, new zealand, the u.k. and the u.s., calling out china for what it did. everyone in the cyber industry has sort of known that the microsoft exchange server attack from last year was perpetrated by china. very sophisticated attack incidentally, more so than the ransomware attacks that made news on colonial pipelines, for example. president biden at least threatened the russians. he twice threatened vladimir putin that we would retaliate for russian cyber attacks. he hasn't followed through on either of those things. with china, there is no related threat of any sort of retaliation. also, you can't view cyber in a vacuum. the chinese look and see an
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administration that frankly is distracted in places like the middle east and they look at u.s. forces in the pacific which frankly continue to atrophy over time, a smaller and smaller navy. cheryl: the chinese communist party aired this video and it warns japan of a nuclear response and full-scale war if it interferes in china's handling of taiwan. is this the chinese doing what they do which is threaten anyone and everyone over taiwan or do you think that china really is serious this time when it comes to japan? >> it's a new level of rhetoric. it comes from a ccp mouthpiece as you suggest. it's for the longest time china has threatened reunification with taiwan. taiwan doesn't want to unify with china. it's interesting how we sort of tolerate this threat of violence from china that we probably wouldn't tolerate from other dictatorships. there is an increasing threat in the view that xi jinping who is
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almost always taking the most aggressive path had either, that's the chinese dictator, eventually wants to invade and conquer taiwan. thankfully, we raised the price of doing that throughout the trump administration, there was an effort and i think it continues to sell taiwan weapons systems that will make it costly and uncertain if china attempts to take it. we could wake up one morning and they showered taiwan with missiles. some people doubt if taiwan will fight. i think they will fight and will hold that long enough for assistance to arrive from the west but a lot of questions there of course. cheryl: i want to bring in joe concha into this. joe, remember the chinese threatened us, they threatened the u.s. because of our dealings with taiwan, in particular financial dealings. joe: exactly. and the question is, i guess, what do we do in these situations? and i'm curious to ask christian as far as you talked about retaliation before against the chinese or against the russians for that matter for the cyber a attacks. what does that look like if i'm
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the average guy sitting at home and i hear retaliation, that's obviously not militarily because that wouldn't be a very good thing right now, particularly considering where we are in the world. >> right. it becomes difficult because the russians and chinese can attack us almost any way they want including attacking hospitals and holding servers ransom. we can't do that really. we have to conduct ourselves within the law of war which means you don't intentionally target civilian targets, certainly not hospitals. there are some examples, though, the u.s. has successfully attacked iran. this is just a rumor. but you remember when president trump almost really welled up the iranians for taking down a u.s. drone, then he pulled back, he wanted a he retaliation that was commensurate the amount of damage they had done. part of that was actually taking down iran's air defenses. we do have this capability to impact the military systems of our adversaries. and will that work? will that achieve deterrence? we don't know because it hasn't
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really been done against the russians and chinese, at least not in a measurable for matt -- format. so something like that that targets the military systems. cheryl: i'm sure that because of your background, that is something within the military, within the pentagon somewhere that they're looking to do, they have to be thinking about -- it's cyber warfare basically. >> it is. the question isn't whether the pentagon is developing that plan, it's whether joe biden has the guts, the willingness to do this. after all, it was joe biden who was probably the lone voice within the obama administration who didn't want to proceed with the bin laden raid. twice as i mentioned, joe biden threatened russia, the national security advisor did so as well with retaliation, but nothing seemed to happen. we need a president that is willing to back up words with act.
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cheryl: that is the question we keep asking here. christian, thank you very much. good to see you. >> good to see you. cheryl: we're going to come right back, folks. stay with us. nothing rhymes with liberty mutual. only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪ this isn't just freight. these aren't just shipments. they're promises. promises of all shapes and sizes. each with a time and a place they've been promised to be. a promise is everything to old dominion, because it means everything to you. (judith) in this market, you'll find fisher investments is different than other money managers. (other money manager) different how? don't you just ride the wave? (judith) no - we actively manage client portfolios based on our forward-looking views of the market. (other money manager) but you still sell investments that generate high commissions, right? (judith) no, we don't sell commission products. we're a fiduciary, obligated to act in our client's best interest. (other money manager) so when do you make more money?
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cheryl: welcome back. i'm cheryl casone, i'm in for maria bartiromo. it is tuesday, it is july 20th. a look at markets this half hour. what a difference a day makes. futures are rebounding, dow is up 194 right now. this was after a dismal day on wall street, all three major indices finishing in the red, the dow's worst day that we've seen since the end of october. investors rattled over the spike in covid cases, the variant, possible more shutdowns around the world, inflation, you name it. also, european markets, they're coming back today. remember, europe also sold off like the world did yesterday. right now as you can see the ftse, the cac and dax are higher. in asia, you had red across the board. you could have expected this really because sometimes asian
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markets will follow how the u.s. markets close and that's exactly what happened overnight. and some of the other headlines that we're watching for you this morning. another texas democrat is reportedly tested positive for covid. that brings the total number of cases to six. this comes after the lawmakers fled the lone star state on a private jet to protest a republican backed voting bill. now the white house is admitting that vice president kamala harris did test negative for the virus. so she did get a covid test we've now learned after she met with that group of democrats. well, the pandemic induced recession that began in march of 2020 ended the next month. that makes the two-month slump the shortest in u.s. history. that is according to the national bureau of economic research. the official documenter of economic cycles. last year's recession ended the country's longest recorded economic expansion which started in june of 2008. two months apartment it was
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over. check your fridge. a recall was issued for bright farm's packaged lettuce over salmonella concerns. at least eight people have reported getting sick. the brands were sold at walmart and other retailers in illinois, wisconsin, iowa and indiana. well, did you hear about this, the passport backlog surged to almost 2.2 million as operational issues are adding weeks to wait times, this on top of a major passport staffing shortage due to the pandemic. james langford is calling on all regional passport agencies and state department to return to full staffing levels within the next few weeks because people want to travel. well, republican lawmakers slamming senate majority leader chuck schumer for setting a key procedural vote tomorrow on the trillion dollar infrastructure package. lawmakers have yet to even write it or strike a deal on you how to pay for it. i want to bring in arkansas congressman and member of the house financial services committee, french hill.
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french, good morning. and why is schumer doing this? what is the rush, in your opinion here? >> well, cheryl, good to be with you. chuck schumer is derailing joe biden's infrastructure come he pro mice. and it's all -- compromise. it's all because the senate and the house of democratic caucuses are controlled by the left and chuck schumer and nancy pelosi are doing their bidding. that's the only way they can get the votes. so this good compromise between republicans, democrats and joe biden crafted at the t white house has been thrown under the rails by chuck schumer. cheryl: i had karl rove on yesterday. he said they're trying to kill it, they basically set it up to fail and that means they they can go ahead and pass what they want without republicans on-board. is that -- i mean, that's a negative thought here but do you think that's possibly what's going on? >> it's logical. it means that kyrsten sinema and
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joe manchin are going to throw caution to the wind and this idea of targeting infrastructure just to surface transportation and broad band is going to sell out to the green new deal as proposed by bernie sanders. so they're going to go back on a core principle they used during all these negotiations so i guess that's it. chuck schumer thinks he can hold all the democrats together on this $3.5 trillion of spending that's untargetted and not needed in my view for the economic recovery. cheryl: the 1 trillion package, the bipartisan deal, there was a lot money in there for actual infrastructure. if my memory serves correct, in the 3 trillion plus package, a lot of that had nothing to do with infrastructure. there was some money for climate change in both deals but the 3.5 trillion that is spending on things -- it's basically pet projects. >> it is. it carries out the definition of everything is infrastructure, community college, child care,
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all the like, all that's infrastructure. what joe manchin and kyrsten sinema were trying to do was focus on surface transportation and broadbeen, that's something the president said he supported. that's been tossed aside by chuck schumer who wants the bigger ocasio-cortez in the house and bernie sanders in the senate approach which is not what the economy needs and not the direction the country should go in. cheryl: 20 trillion in debt we're sitting on. president biden he addressed inflation yesterday. we had a bad day on the markets yesterday. he believes recent consumer pricing surges are temporary, he says this was expected. he wants congress to pass his spending plan, despite the worries about, again, consumer prices. which is what we're worried about here. listen to this. >> our experts believe and the data shows that most of the price increases we've seen were expected and expected to be temporary and my build back better plan will be a force for
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achieving lower prices for americans looking ahead. if your primary concern right now is inflation, you should be more enthusiastic about this plan. cheryl: congressman, i want to bring in mitch roschelle. mitch, the markets were so -- there's a lot of worry out there about rising inflation. the data is showing us this. the president doesn't seem to be gripping onto that. mitch: no, not surprising. and if you look for the root cause of inflation, it's all of the stimulus we put out there. we overstimulated the economy and now we're talking about be $.5 trillion worth of basically more stimulus. i'd like to get the congressman's perspective. is there talk in the halls of congress about inflation and the stimulus packages and is that message resonating at all with your colleagues on the other side of the aisle? >> not resonating on the other side of the aisle. i hear about it every week when i'm in my district, we did a
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telephone town hall two weeks ago. it was the number one issue. inflation is hopefully transitory. i don't think it is. i think joe biden's reckless policies are contributing to what will be high inflation expectations. once that gets embedded in our economy that does nothing but hurt working families who are already seeing the effects of biden's inflation now in milk, gasoline, everything at the grocery store, building materials. so jay powell has told president biden it's transitory. i think that remains to be seen. and even democratic economic leader larry sommers has strong concerns that they're not transitory and that this reckless spending is only going to exacerbate inflation. cheryl: there's a lot going on and obviously tomorrow is going to be pretty darn interesting to see if this bipartisan deal has any legs whatsoever. today is probably going to reveal a lot in washington. you have a busy day ahead, congressman. we're going to let you go.
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thank you, sir. >> all right, cheryl. cheryl: coming up, earnings, it's week two everybody. major big tech companies are reporting this week. these are always fun to go through. ibm reported its numbers. netflix is coming up. we'll have a preview for you. "mornings with maria" live on fox business. ♪ i love you baby. ♪ and if it's quite all right i need you, baby. ♪ to warm the lonely nights. ♪ i love you, baby. ♪ trust in me when i say. ♪ it's a wishlist on wheels. a choice that requires no explanation. it's where safe and daring seamlessly intersect. it's understated, yet over-delivers. it is truly the mercedes-benz of sports sedans. visit your local mercedes-benz dealer today for exceptional lease and financing offers.
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an asset more relevant than ever before. gold. your strategic advantage. cheryl: to the edge of space and back, jeff bezos and his blue origin crew are set to launch in just over two hours from now. we've got live team coverage all morning long. we are going to be back in just two minutes. front desk. yes, hello... i'm so... please hold. ♪ those days are done. ♪ i got you. ♪ all by yourself. ♪ go with us and find millions of flexible options.
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and i want more of them. ask your doctor about verzenio. cheryl: tech earnings in focus this week. ibm kicking things off last night. they reported their strongest revenue growth in three years, stock is up 4% in the premarket. we are going to hear from netflix after the close. dan morgan is here, dan, good morning. here we go with a lot of the biggest names. we've got microsoft, we've got netflix, we already heard from ibm. what do you expect overall for the tech sector which hasn't been the star of the show the first six months of the year. >> yeah, we expect the tech sector to report good numbers in the upcoming second quarter.
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for fiscal year 2021, looking for growth of about 28%. that compares to about 31% for the s&p 500. we have to remember, cheryl, is that last year the tech sector actually had positive earnings growth, about 4 to 5%, where the s&p was down 12. so it's been a very resilient sector, it seems to perform in either scenario. in a covid scenario or a good economic scenario. so would expect good numbers, ibm kicked it off last night with a 13% jump in their cloud space which was met with applause and the stock is up and tonight we have netflix. cheryl: let's talk about netflix here. because obviously the big question is going to be, as it always is, subscriber growth for netflix. we likely will see subscriber growth. we had a guest on earlier in the hour that said it will be about projections for the next few months. they've been spending a lot of money on content and also the fact they've had a big delay in their production schedule. what do you say? >> you're right, cheryl.
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if we were sitting in this seat three months ago, going into the first quarter, consensus estimate was 6 million. it came in at 3.98. so now the bar has been really lowered in the upcoming second quarter. i think they've guided a million new subscribers. the street's about 1 and-a-half million and it's very back-loaded into the third and fourth quarter, looking to 5 to 6 million in the third quarter, up to 9 million in the fourth quarter. almost 14 million new subscribers expected in the second half as content starts to really ramp up. but this quarter is going to be an inflection point because we have to ask our question, is netflix still kind of a growth at all cost like an amazon or is this a company that you just kind of circle in with their 208, 9 million paid subscribers and, you know, focus on cash flow and focus on content and not worry so much about growing. so it's going to be interesting to see what happens. cheryl: let me bring in joe
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concha into this discussion. you cover mead y it's about the -- media. it's about the competition. you've got amazon, disney, hulu. what do you say. >> i say it's never been better to be a dad of a five and 7-year-old, because you have all of these options now without having to go to the movie theater and all the restlessness that can go on and the cost for that matter. look at netflix for example. their stock was trading at $90 five years ago. it closed yesterday at something like 530 yesterday. that's more than six times. here's the thing. at home, you have you a movie theater experience right now because you can get 55-inch tv, that's pretty big, for under $400. so before i think streaming wouldn't work because you couldn't get these huge tvs, hd tvs that looked great. now you have the movie theater experience at home and it's why all a those companies you just mentioned are doing so well because more and more people are opting to watch movies at home.
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by the way, a lot of production companies, studios are dual releasing now, it's not just theaters and eventually to streaming. they're coming out both at the same time. theaters are not happy about this but people are just opting to watch at home as opposed to going out. cheryl: i want to pick up on that with dan before we let you go, dan. here's the thing in particular with disney. they've got the pressure on if parks numbers, they've got all the pressure when it comes to the cruise lines which are not even out yet, not even going. the pressure's going to be on streaming where they spent a lot of their capital already. streaming is going to be a big piece of the disney number that we get. >> no doubt, cheryl. disney is probably the most formidable competitor to netflix right now. they have over 100 million subscribers. by 2024 had they're expecting over 200 million. for netflix, they didn't acknowledge that competition was an issue but they came out and said they're going to maybe get into gaming and you look at
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disney with these projections in terms of number of new subscribers. so there's no doubt that that's become a bigger part of disney's business. it will be interesting to see how netflix responds going forward in regards to content and so forth. cheryl: i'm sure it's going to come up on the call. i'm thinking ahead to what the analysts are going to be asking the team when the conference call goes out. that's all after the bell today. dan morgan. dan, thank you very much. appreciate it. >> thank you, cheryl. cheryl: all right. coming up, in in his own words, prince harry scoring a major book deal for his memoir. the price tag is making a big buzz this morning. we're going to tell you about it, next. ♪ no matter where you go. ♪ there will always be a place. ♪ can't you see it in my face, girl. ♪ ooh girl, i want you.
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cheryl: it is time for the morning buzz. first up, prince harry telling his story in his own words. he will publish his memoir next year. reports say he did not tell his father, prince charles, about his plans for the book. it comes with a big check, $20 million which we should say here will go to charity, joe concha. i think my first thought was he's 36 years old, what's the memoir about. but i was just reminded that he's had quite a life. joe: yeah. i guess we get to read more about the royal couple, obviously meghan markle as well, very outspoken, who is worth millions of dollars telling us how much of a victim they are because of their privilege. i watched the oprah interview. i'm pretty sure i know the direction that this book is going in. and look, i guess they're just going to trash the royal family as they have in the past, probably accuse them of racism
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in some capacity and make the queen feel even more uncomfortable. i think going to pass on this one, cheryl. cheryl: mitch, obviously likely to joe's point he's probably going to continue to go after his family. mitch: yeah, the book's a hard pass from me. i'm knee deep in watching the crown. i don't know how much it fact, how much is fiction but i have a tremendous amount of respect that i never had before for the royal family. so trashing them doesn't seem like the thing to do right now. cheryl: again, back to netflix's quarter. there's another story we're following this morning. it's very buzzy. keeping cookies to yourself. oreo thins came up with a creative way to keep thieves away from your house, like your husband, your wife, your kids. the company created disguises for the cookie wrappers so you can make it a car manual, a cook book. mitch, you can hide the cookies from debbie or is it vice versa here? mitch: as the father of 21-year-olds, i know if you
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wanted to hide cookies from them, you can do it in plain sight. you can put it in their bedroom, they will never see it. they would walk by. they they can never find anything in their room. it's a good idea. you could dupe me with it, hide it behind frozen broccoli and i would never find the oreo thins in the freezer. cheryl: those poor kids. you beat up on them on television for years. still ahead, markets looking to rebound right now. what a difference a day makes. bitcoin, though, is plummeting and that is something we're going to be talking about. top investors watching your money, we've got the word on wall street coming up next. it all starts in the next hour on "mornings with maria," live on fox business. ♪ [relaxed summer themed music playing]
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cheryl: good morning, i'm cheryl casone, it is tuesday, july 20th, your top stories at 7:00 a.m. eastern time. tragedy at the border. fox news cameras capturing a flood of hundreds of migrants trying to get past border agents as crossings surpass 1 million this year and new concerns for florida governor ron desantis who said migrants are heading from texas directly to florida. we will get into that all morning long. a look at markets right now. what a difference a day makes. dow is up 160 after yesterday, s&p up 19, and nasdaq 76 and a half. it was a terrible day on wall street. all three major indices finishing in the red. dow's worst day since the end of october, investors rattled over spike of covid case. worried about another round of shutdowns and inflation. european markets are recovering,
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cac, the dax all higher, slightly higher. in asia overnight, red across the board. this happens following the u.s. markets and the kospi, hang seng, nikkei and shanghai all in the red. plus launch day, it is here, jeff bezos and blue origin crew are ready to travel to the edge of space. we have got full coverage and we will take you down to texas. mornings with maria live right now. ♪ ♪ cheryl: top stories, president biden is walking that facebook is killing people by allowing covid-19 vaccine misinformation in platform. >> my hope is that facebook instead of taking it personally how i'm saying facebook is killing people, that they would do something about the misinformation, outrageous misinformation about the vaccines. cheryl: facebook slammed the president's initial accusation
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last week, they are not supported by facts and argued that the platform is, quote, helping to save lives. republicans slamming senate majority leader chuck schumer for setting up a key vote on bipartisan infrastructure package, procedural vote is expected tomorrow even lawmakers have yet to write the bill or strike a deal and how to pay for the 1 trillion-dollar package. at least ten republican votes are needed to advance the shelf of a legislation. a major settlement between opioid companies and several states reportedly nearing completion. state attorneys general are expected to unveil 26 billion-dollar settlement this week. j&j all part of negotiations. new york striking a 1 billion settlement with 3 of the companies. well, cases, covid delta variant on the rise in the u.s., 31,000
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new case -- 32,000 cases each day, doubled than ten days ago. they are young and unvaccinated. top investors watching the money. joining me lpl financial chief strategist ryan and chairman oft fund denise and payne capital management president and podcast host ryan payne, guys, good morning to all of you. ryan, i want to start with you and kick things off. we have green numbers. it's okay to wake up this morning and check this out. markets look better. we are recovering some of the selloff from yesterday but the spread of the delta variant, a worry about lockdowns concerns about too hot inflation, those aren't actually just going to go over way overnight and obviously as you can see the dow had worst day since october. what do you expect going in the third quarter and is it fair to say that sometimes a selloff can be a good thing?
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>> well, first off, good morning, absolutely right. let's not forget. we got over 90% rally from the lows. you look at what happened in the last couple of weeks, maria a month ago saying markets making new highs butless stocks were making two-week highs. not the end of the world but little less participation. you mention the third quarter, worst year average, rough months, so all kind of makes sense with the big rally. some pullback. we haven't had a 5% correction since september, right, the average year sees 3 of those a year. we have been really spoiled. we all know that but the key that we are telling advisers, big rally, consolidation, 7, 8% correction could be perfectly normal in the cards and it'll be a buying opportunity. cheryl: to be fair here, the s&p 500 had 39 records so far this
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year. looking at the context of what we are seeing in the numbers and i want to bring in ryan payne because one of the big stories that we frankly had been reporting on, ryan, inflation with consumer prices, those have been rising, consumers are finally telling us, we saw the data last friday that they are worried about what they're paying. you have president biden basically bringing it up yesterday that the resent surge in prices is temporary and expected it and he wants more spending to be thrown out there. what do you say? >> i say that he is not in agreement with most corporate cfo's right now. if you look at 87% of conference calls, the word inflation has been mentioned. that's up from 33% last year during the same quarter and if you look at companies right now pepsicola, for example, they reported earnings last week, labor costs are going up, wages are going up and guess what, you and me the consume we are going to pay for it because they are
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increasing prices and hence stocks at all-time high and cfo went as far as to see, we adopt see transitory, we see inflation well into next year and i wonder with the labor market heating up and we have 8 million jobs that have been to be brought back since we had the pandemic, yet, there's over 89 million openings, how does that work and how doesn't that cause more labor inflation by the end of the year and if you want to add $4 trillion plus in spending on top of that, that's only going to heat up the economy even more so i think at this point, cheryl, we have to be real, inflation is probably going to be around a lot longer, not going to be as transitory as the fed and as the president likes you -- to think right now. i talk -- i talk about that in my podcast. cheryl: you wrote this morning that the gods have given us a selloff and that can't be a bad thing. real quick, ryan, is this as
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good as it gets in 2011? >> no, i think that's the misconception right now because we are at peak right now. earnings will come phenomenal this morning. i agree with the other ryan in the sense that we haven't had any sort of market correction at all which is statistically is anomaly so i would take this what we have seen in the last couple of days as gift for the gods, great time to get money invested because the market hasn't let you in. markets will continue to go higher because economy will keep rocking and all the market cares about are things getting better or worse and every piece of economics data says, everything will get much, much better as we move through the year. it's hard not to be bullish here. cheryl: you're still looking at 7% growth for gdp for the year 2021. denise, i want to bring you in and i want to apologize in advance, i want to ask you about bitcoin. we are sorry, we are below 30,000 for the first time since
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late june. 98 billion is basically being wiped off of this crypto market right now and that's overall but then look at bitcoin below the 30,000 mark. what do you say? this is a risky trade in a lot of people's opinion this year? >> one of the riskiest trades of all time. i haven't been a skeptic of bitcoin since inception. i missed the whole thing. i can't understand the public enamorment and it makes absolutely no sense and the fact that you've taken the bitcoin itself below 30,000 is -- that's a terrible psychological support level that's been broken. watch the relationship between gold and bitcoin. you've taken bitcoin gold ratio down close to 16. that's down from 38 to 1 and now 16 to 1. i think it's on a way to 10 to 1. gold is much better inflation hedge. gold is much better hedge against political circumstances and much better hedge against the problems in the stock market
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and then bitcoin and the cryptos. i've been a skeptic of the cryptos, god bless the people that made a lot of money but i think they're in a very difficult position and i think bitcoin is headed lower. cheryl: nobody bought it at a thousand, they would have told me to, the bigger question is the bond market and, denise, i want to get the take on the bopped market real quick before you go, i can't believe the moves in government bonds right now. what does that tell you about the wall of worry that we are seeing? >> i think it tells you that there's a wall of worry. it is inexplicable to see the ten-year bond at 125 yield. it makes no sense below 2%. it hasn't made sense to me for a period of time. the monetary authorities are driving this. the treasury wants to keep rates low to fund the treasury's deficit, u.s. government's deficit for years to come. that's the pressure that the fed feels and the fed is the one keeping rates where they're at.
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the strength in the u.s. dollar is because at least interest rates here at the ten-year in the united states are one and a quarter, still ridiculously low level. should be 1% but higher than in europe. the dollar is the beneficiary, but what we have the monetary authorities around the world sponsoring the bond market, bull market. it will eventually shell end and end in tears but every time i've bet against it it's been a bad bet. cheryl: i hear you. guys, thank you very much. great word on wall street. appreciate it. busy day on wall street. >> thank you. cheryl: we have a lot more coming up this morningment busy morning in gem. the white house finally admitting that vice president kamala harris got a covid test just days after meeting with the texas democrats who flood the state. there's now 1 cases with them. rnc chair ryan mcdaniel on the mixed messages coming from the white house. plus this republicans slamming
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majority leader chuck schumer for setting a key vote on bill that's not even written. big morning for jeff bezos, he's launching into space. stay with us. the billionaire mogul, he's going to the final frontier, that's under 2 hours from now. we will be previewing it all morning long and joining the conversation i have a rock star panel, joe concha and mitch roschelle, i'm a happy girl. you're watching mornings with maria, we are live on fox business. ♪ ♪ ♪ tailor made or one size fits all? made to order or ready to go? with a hybrid, you don't have to choose.
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cheryl: the crisis at the border, fox news cameras
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capturing a flood of hundreds of migrants trying to get past border agents. this is customs and border protection apprehended more than 1.2 million people at the border this fiscal year, the highest level receive seen since 2006. joining me tennessee congressman joint economic committee member, foreign affairs committee member mark green, you wear a lot of hats. good morning, congressman. congressman: good morning, cheryl, thanks for having me on. cheryl: i want to get your reaction of new video that fox news confirmed and found. congressman: yeah, i mean, it's -- it's crazy what's going on at the southern border. you know it's really about power for the democrat party. i mean, they are opening our southern border and folks are pouring through because they know what happens when they get here they'll have children and those children will become united states citizens and those citizens will vote democrat. that's the only reason that the democrats are putting up with
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this basic open border. they know the fentanyl is killing americans, the men and young girls making track through latin america, central america are being rape. nonpartisan organizations have said so and they don't care because they know it empowers them and that's what they're all about, it's empowering themselves. >> what do you make of ron desantis, governor of florida, he says there's direct correlation what's happening on my state and the border, they are coming directly to florida and he said that that's got to stop. is it the governor's voices that are actually going to rise up in this fight against the border and the crisis there? congressman: well, we certainly hope so. the governors are pushing back, my governor in tennessee told the biden administration don't bring refugees here. there's reports that they're using air force aircraft to fly illegal aliens all over the country. i actually have a bill that we
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filed that would allow the governors a say in this. they would actually get to approve whether or not the federal government turns every state in the nation into a border state, but, yeah, he absolutely should have a say. his state should have a say. cheryl: i want to move onto what's happening in washington. this is senator lindsey graham slamming senator chuck schumer for setting up the vote this week, tomorrow on the bipartisan package because the text isn't even written, there's a division on the democrats and a couple of times it's been brought up on the program that the reason that schumer is doing this and the democrats, they are setting this up to fail tomorrow, the vote, so they can go ahead and pass the bigger package which is the one they really want? >> congressman: sure, a lot of times they'll be do that just to be able to say republicans voted against x. it's like the healthcare bill, obamacare, we had to pass it in order to know what's in it. the whole mentality it's so
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frustrating to the people in my district. they are sick and tired of washington working that way and that's why they call the place a swamp and want it drained. what chuck schumer has done scheduling scheduling a bill that hasn't been written yet is insane. it's all about power, messaging for them and gives them something in the election. that's all they are looking for. cheryl: i want to bring in joe concha in the conversation. you covered the hill and we have seen this play out before. we have seen this play out before, joe, this is what they do and the congressman is here and he's in the thick of this fight and this is dirty politics, frankly. joe: it is dirty and reckless quite frankly when we talk about the money and talk about inflation in the show all morning and i'm not an economist but i did take eco101 and i'm pretty sure when you print trillions of more dollars and
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you put it into the economy, it will spike inflation. i'm not understanding the political calculation around this but, again, the american public watches this at home and think back to 2010 when nancy pelosi said we have to pass the bill in order to know what's in it and when you hear comments like that, it drives you crazy because you wonder what is the rush around this. the old tiling i used to work for my brother-in-law as a tiler. you have to measure once and cross twice. he wants it to fail so then they could ram through the $3.5 trillion package and say that republicans are the reason why they couldn't get a bipartisan deal instead and it's just what makes congress, what is their approval, 12%, only below the media. cheryl: you see the numbers, this is what happens.
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people get frustrated with all the spending? >> yeah, america is sick and tired of what congress is doing. i went from being -- i was a physician and member of the military, two highly respected professions and now i'm in the united states congress so i feel it every day but it's the anger from about this -- what he's doing, what nancy pelosi is doing, it's just gamesmanship and, again, they do it to put themselves in power, they want to concentrate power in the hands of fewer people in washington. look at hr1, look at stacking the supreme court and look at dc statehood and everything that they do is about their own power. cheryl: meanwhile the constituents in tennessee, we have to get roads and bridges fixed. would you mind getting into that? hopefully they will, congressman mark green, thank you very much, congressman for being here. congressman: thanks, thanks. cheryl: we have a lot more coming up. hunter biden's conflict of interest.
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the washington post critique of the president's son, the washington post. we are on that coming up. get out of the water. the heart-stopping video that will have -- stop you from going to the beach today. it's crazy. back in a moment. ♪ ♪ limu emu & doug ♪ oh! are you using liberty mutual's coverage customizer tool? sorry? well, since you asked. it finds discounts and policy recommendations, so you only pay for what you need. limu, you're an animal! who's got the bird legs now? only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪
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cheryl: washington post op-ed highlighting hunter biden's numerous ethical scandals with page of art work, some of the images include a framed photo, quote, i heart barisma, painters
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who would appear in this gallery if not named biden. joe, this is the washington post. [laughter] joe: that's the thing here. i never saw this coming. any criticism of hunter biden was a third-rail of journalism. it's not going to be done in any shape or form. we saw that last year, october 2020, the new york post had the exclusive, the contents of hunter biden's laptop and twitter censored the stories and mainstream media said it was product of disinformation. right now we are seeing that even here the washington post is criticizing and obviously mocking hunter biden. it bears repeating not just the washington post, former white house ethics chief, he's been highly critical of hunter biden's art sales. shaab worked in obama administration. when was the last time a first-time artist got $500,000, that's what they're saying,
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hunter biden can fetch for the paintings. i mean, davinci is watching from heaven saying what the hell is going on here. influence settling and pathetic media mainly yawning at this point. imagine being eric trump after never painting anything out of -- in their life. cheryl: eric trump kept working and i digress. mitch, your reaction? mitch: candidate joe biden was talking about ethics and restoring those things to the office and turning blind eye. i wonder if some of the insiders in the administration, in the west wing are furious about this and that's why the washington post is running this op-ed just to kind of put more pressure on
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the administration itself to, you know, not knock this stuff off. cheryl: we will see if there's any response to this. they act like there's nothing to see here. the gaslighting, thank you. coming up the white house finally admitting the vice president harris did take a covid test. rnc dona mcdaniel on the pr that they have been dealing with. party everywhere, new proposal for one florida city that can turn it into las vegas, that is making a buzz this morning. we have that story coming up. ♪ ♪ ♪
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cheryl: welcome back, i'm cheryl casone, i'm in for maria bartiromo this morning and it is tuesday, july 20th, a look at
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market this is half hour, futures are looking a lot better today than yesterday. dow is up 218 right now, s&p 23 and a quarter and nasdaq 73 and a quarter and we have seen the numbers start to rise near session highs for the future's market, we shall see what happens. all 3 major indices finishing in the red yesterday with dow's worst day since october, dow losing 725 points, investors were rattled over spike in covid cases and new delta variant and worries about more shutdowns and also inflation. european markets are in the green so they are rebounding this morning as well after their rough session yesterday. the ftse 100 the cac 40 and dax slightly higher and in asia overnight, you had red across the board but remember that a lot of times the asia markets do follow u.s. markets close and that's what we saw last night. kospi, hang seng, shanghai all slightly lower. some of the top stories that we are watching for you this morning, the cdc and the state department telling americans not
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to travel to the united kingdom. this coming amid spike in covid-19 cases there. 50,000 new cases reported in the single day, that is the highest in six months. virgin islands, fiji and indonesia seeing increase. ben and jerries will stop sell in west bank and east jerusalem. vermont ice cream company occupies palestinian territories are inconsistent with its values and it will not be renewing license agreement when it expires next year. israel's prime minister natalie bennett calling the decision morally wrong. company striking a deal worth at least $5 billion under the terms at&t will carry dish wireless systems for ten years, voice data and messaging services, brands that fall under dish are boost mobile and republic
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wireless. both stocks are higher on the news as you can see and in particularly dish that will benefit from this, 1 and a half percent, at&t up almost half percent. did you see this? close call. a man was waiting in the waters of panamá city beach, florida, then he gets this. a hammer head shark, the shark nearby starts to charge him as people are nearby screaming in terror, the man begins to back away and luckily so does the shark. okay, sharks in the water in washington. there always is. vice president kamala harris testing negative for covid-19 after meeting with texas house democrats who ended up six of them testing positive. harris met with them a week ago. they fled texas to avoid the republican backed voting legislation. well, the white house says the vice president's appointment in covid test were routinely scheduled and unrelated to her meeting with lawmakers. republican national committee chairwoman, ronna mcdonnell,
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ronna, good morning. >> good morning. cheryl: what do you make this about face from the white house? >> well, i think -- it's a little crazy to say it was a regularly scheduled visit when it's on a sunday. i don't know how many of us can get into the doctors on a sunday but that's ridiculous. there's so much hypocrisy here. if republicans had taken a taxpayer funded vacation and fled their state on private plane without masks, met with the vice president, got covid, this would be all over the media. they'd be calling republicans reckless and dangerous and i can't think of the other words they'd be saying but now because it's the democrats doing this it's barely getting a mention from the mainstream media and it shows the hypocrisy in the situation. cheryl: that's a very good point. you also have the president and i want to get your take on this, he really walked back yesterday the criticism, his initial criticism over the weekend of
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facebook. now he says that facebook is not, quote, killing people but he wishes the company would do more to stop the spread of vaccine information. i want you to listen to this. >> facebook isn't killing people. the 12 people are out there giving misinformation, anyone listening to it is getting hurt by it. is killing people, it's bad information. my hope is that facebook instead of taking it personally and somehow i'm saying facebook is killing people, that they would do something about the misinformation. outrageous misinformation over the vaccine. cheryl: chairwoman, your reaction to that? >> well, you just saw firsthand the power that facebook has over this administration and how in bed the biden administration is with big tech. you heard the administration that they are censoring people and telling facebook what to put on and what to censor, biden had to walk really quick i will saying that facebook is killing
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people. mark zuckerberg must have called him, hey, look at all of the donations we have given you and change the language and sure enough he switched it around really quickly and i think this is something that all americans should be paying attention to. the white house and big tech are actively involved in censorship and big tech has a big voice in this administration. cheryl: big voice for the hill is joe concha. we talked about it earlier in the show. this goes back to sensitivity. it's facebook and media, they are walking a thin line here. joe: they are, when you consider that 86% of americans get their news online, right, at this point. much of that news is through social media like facebook, for example, yes, they are extremely powerful and to your point before, boy, that walkback by the president was very telling because i've been making the argument that i don't think that the democratic house, the democratic senate and obviously a democrat in the white house would ever do anything to break
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up big tech because that is their biggest super pac. we saw it last year going into the election, how they censored and suppressed stories around hunter biden's laptop, for example, where even if you shared the story, a twitter user, for example, you got your account suspended and probably can attest within rnc and i want to ask ronna this question for you, does the white house understand that misinformation as they deem the definition to be would have included covid-19 possibly coming from a lab in wuhan just a month ago, that would be considered misinformation by facebook, they censored and obviously suppressed posts around that and we are seeing it's a real possibility. who gets to decide what is misinformation considering that this is a pandemic that is evolving and we are learning
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more about it? >> you're exactly right, joe. so what was misinformation a month ago is now the truth today because suddenly the biden administration deems it so and big tech can put these -- these things on thinker plat -- on their platforms, biden and kamala harris were actually sowing the doubt when trump was in office. when president trump was leading the way with operation warp speed saying we will be having vaccinations by the beginning of 2021, they'd say i don't know if i take it. i don't know if i'd take it if it came from this administration, i didn't see facebook censoring that or taking off platform. misinformation could quickly be a check on freedom of speech in this country. we need to look at the balance because they've had a lot of control over what is said and done on the platforms. cheryl: you reminding me and i want to remind viewers, ronna,
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president trump has a class action lawsuit, the former president that's suing censorship and you have the current president, ronna, talking about his version of censorship, he's not suing or changing them to change platforms but, quote, unquote, letting them know what is an appropriate content. >> they are friends, they are their biggest super pac, they get to call facebook and say, hey, we don't think you should put hunter biden story out and leaked from a wuhan lab because this is something that we don't deem as credible but the biden administration is not arbiters of truth and facebook should not be taking their cues from this administration and should be a platform of freedom of speech and thought on it unless it has regulatory oversight from congress. so much is at stake here but i
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think we saw this week with biden walking that back so quickly just how in bed this administration is with big tech. cheryl: i want to get your take on what's coming up with the midterms. the gop is hope to go take back the house and the senate, what are you expecting as we get closer? >> you know, we are already seeing great enthusiasm. we had great bellwether races in the mcallen mayor's race, but i think americans are waking up to the fact that they're paying more in the gas pump and they are paying for more groceries, we are having huge inflation across the country and they know why. we were in an economic recovery under president trump and now biden has squandered it with bad policies he's trying to pump money into this economy and it's costing every american more because of inflation is a tax on every single american. cheryl: we are at $23 trillion and alarm bells are going off on the republican side, on your crowd but not on the other side
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unfortunately. chairwomanronna mcdaniel. great to see you, thank you. have a great morning. we have a big morning here because here we go everybody, jeff bezos and blue origin crew are set to blast off in an hour. we are getting live pictures from vanthorn, texas, things are heating up and i will speak with an astronaut on what the amazon billionaire can expect when he goes up into space this morning. plus desperate for help. the creative way one brewery is trying to lure in workers. that is making a buzz this morning and we have that story ahead. you're watching mornings with maria live on fox business. ♪ ♪ maria: this week on mornings with maria, tomorrow from wall street to crypto, former nyc president on new venture. thursday republicans blasting president biden's lack of action on cuba, mercedes sclapp
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reaction. expert analysis on the smart money plays to make you positive. all right here on mornings with maria.
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new projects means new project managers. you need to hire. i need indeed. indeed you do. when you sponsor a job, you immediately get your shortlist of quality candidates, whose resumes on indeed match your job criteria. visit indeed.com/hire and get started today. cheryl: amazon founder jeff bezos is making history with launch into space. we are just over an hour from now. tee in one hour and 15 minutes. he wants to make routine for millions to follow in footsteps, the next generation.
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my next guest is a retired astronaut colonel chris who knows a thing or two about going into space. the author of the new book the apollo murders, colonel, good morning. >> good morning, cheryl, pretty interesting morning. cheryl: fascinating for you to watch. you have compared this launch to day to early days of aviation. do you think this is the beginning of regular americans like myself going into space in the next 10, 20 years? >> it is, cheryl. that's the really important thing. this is an amazing summer. i mean, just a week ago richard brunson flew of his version of spaceship and jeff bezos will fly on their version of a spaceship and four flying out of spacex into orbiter in september. all that happening in the two months this summer. the door of private tourism kind of space flight happening for the first time in history,
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amazing to be able to watch it. so he will be going above the carmen line, he will be going from the earth atmosphere into outer space. jeff bezos today is going to go higher than richard branson did, but richard branson flew longer. and to be clear, jeff bezos will not go into orbit. the flight is only 11 minutes or so. so what can they expect when they hit zero gravity and when the capsule becomes weightless at least for 3 minutes they will be weightless, what is that going to be like for them? >> you mentioned carmen line there's no real spot where space suddenly begins, the atmosphere slowly tails off. you choose 50 miles, if you round off in metric system you choose 50 kilometers. that's what you're going to experience, the blackens out of being in the universe and beyond the blue of the atmosphere. that's pretty profound and they'll be able to see for
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thousands of miles in each direction from south texas there with the curvature of the earth and the blackens of eternity beyond that and weightless at the same time. it's going to be only 11 minutes as you say but pretty amazing 11 minutes. cheryl: apparently the windows on the capsule are going to be -- they're about 10 times larger than boeing 787's windows which is pretty large in my opinion. >> yeah, i was on -- i lived on the russian space station briefly and commanded the international space station. they have some pretty good windows up in the space station, but this little ship, the new shepherd named after the first american in space, it has the biggest windows that i've ever flown in space. so each passenger in their heat has huge windows and so much of the experience is visual.
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the wanders of weighlessness but also the magnificence of seeing -- the world from a whole different perspective and those windows, i think, today is a first time that a passenger will look out those and see the world and they really worked hard to make the windows as big as think safely can. cheryl: we are looking at the pictures and it really is beautiful. i have to say on jeff bezos' part, it's incredible this is july 20th and 52nd anniversary of the apollo 11 moon landing, obviously blue origin. he believes that the outer blues of space, this is the origin of space travel for the next generation and they don't have a pilot. this is just four kind of regular passengers. well, she has flight experience but this is kind of -- there's no pilot. so we should be worried about their safety and concern if there's any problems or emergency? >> well, you know, it's
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interesting that you mention apollo. jeff bezos and richard branson and elon musk were hugely inspire bid what happened 52 years ago today. that's why the companies exist because of the inspiration. as far as safety. this is the 16th flight of the little spaceship and they tested everything and they thought it would be smarter and safer to automate as much as possible and not just rely on their -- on the wallie, the woman on board, she's 82 but she's been top-end pilot all of her life. if you can use the technology, sort of like driverless cars, if you can make the technology as safe as possible you don't rely on real-time skills. and if it were me, i would get into seats on board and say, i think it's a great experience.
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cheryl: you never know, we have to see. chris hadfield, you speak from experience. thank you so much from your perspective. it's a tee minus one hour and ten minutes to go. i love saying that. thank you, sir. all right. coming up, well, the party never stops, folks, one city is considering making public outdoor drinking permanent. it could be where you live and making a buzz this morning and we will tell you all about it coming upth next. ♪ ♪ ♪
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♪ ♪ ♪ cheryl: time for the morning buzz, first up, cheers, gainesville, florida may soon legalize public drinking. the city is temporarily allowed for the open-container law in response to the pandemic, the city will vote to make it
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permanent. all right, joe, public drinking, is this a good idea? joe: i see what you did there, morning buzz. well done. good work play. [laughter] joe: to quote homer and i'm talking homer simpson, it's the cause of and solution of all of live's problems and florida is becoming like a really cool state thinking of moving to, perhaps compared to new york and all i know my daughter cameron 7 year's old, i have her going to the university of florida where gainesville is the host of the school. she's not going to syracuse or north western, any cold weather school, no way, go south. i love it. cheryl: you may have to apologize to that daughter at some point in the near future for your behavior, joe. joe: good point. [laughter] joe: during the break. cheryl: mitch has two kids in college, he knows especially the football side of it.
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mitch, what do you think is this a good idea? mitch: it probably is. it's a college town. just remember one thing about florida. at least they have a rule of law down there. if something gets out of hand they can rein it back in as opposed to new york that you couldn't rein anything that was going on outside. cheryl: because of extended unemployment benefits, brewery that has a help wanted beer, ipa and has posting on the can, what do you think? mitch: if it was served in a restaurant there may be no one to serve it. that's the problem. there's no one working in restaurants. you know, listen, we can kid about it all we want but this labor shortage thing is real and it's not going away any time soon and i worry it won't go in september so maybe we just need to start drinking. >> one of our staff in control room, i know. the whole alcohol block, she went to the brewery and couldn't
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get anybody to help her and it's a problem with this brewery and cheers to both of you. don't drink yet. we have an hour show to go. stay with me, stay sober. still ahead, very funny, joe, let the countdown begin, the blue origin is ready to launch, we have coverage next hour on mornings with maria. ♪ ♪ ♪ ♪ ♪ experience, hyper performance that takes you further. at the lexus golden opportunity sales event. get 0.9% apr financing on the all 2021 lexus hybrid models. experience amazing.
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cheryl: giej cheryl casone for maria bartiromo tuesday, july 20 top stories 8:00 a.m. eastern time. health insurance migrants flooding the southern border marking one million arrests since biden took office florida governor ron desantis criticizing the president he immigration policy saying many migrants are bound forking his home state. >> well, this hour, historic launch into space we are going to take live to texas, jeff
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bezos prepares to launch into space we've got all angles covered of breaking news next hour for you taking a look at markets speak of breaking news a turnaround to show you this morning actually ticking higher in futures right now dow up 230 in futures market s&p up 23 1/4 nasdaq up 62 we are rebounding after that sharp sell-off from yesterday all major averages reported losses worst ta since october 725-point loss in europe european markets moving into the green right now that, of course, is a different story from what they went through yesterday, as you can see the ftse contact 40 dax higher red across the board nikkei worst performer worries in japan about the tokyo olympics, having rough starts to covid tests all over the markets about two seconds from now, he "mornings with maria" is live right now.
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top stories watching for you president biden walking back claims that facebook is quote killing people, by allowing vaccine misinformation on its platform. >> my hope is that facebook instead of take it personally saying facebook is killing people that they would do something about the misinformation outrageous misinformation about the vaccine. >> facebook slammed the president, initial accusations saying they are not supported by facts, arguing the platform is actually quote help save lives chuck schumer setting up a key vote on infrastructure package procedural vote expected tomorrow lawmakers have yet to even write the bill or strike a detail how to pay for it at least 10 republican votes needed to vans that shell -- of a
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legislation. >> a state attorneys general to unveil 26-billion-dollar settlement are very vin health jnj mckesson parts of negotiations new york striking a settlement with three companies including jnj. >> covid delta variant on rise across the united states, officials say there has been over 32,000 new cases each day, over the last week, double what the seven-day average was 10 days ago, hospitals say patients treated are younger, and unvaccinated. all right markets looking to river near session highs for futures with dow 2.2 right now, remember it was that delta variant spread, that spread of lockdown worries about inflation interest rates all kind of hurt the market the 10-year in particular the
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yield, 1.18% recovering a little better bond prices when they go up you see yields go down means people are looking fore maybe safety, but okay, looking for less safety in last 20 minutes yardeni roche president ed yardeni joining the conversation joe concha mitch rochelle all-star panel great to have all of you here want your take an what you are seeing this morning versus yesterday morning, frankly what we're seeing, all of these concerns in the market which is a bigger story a bigger worry second half of 2021 what do you say. >> there is no doubt that economy is going to be growing second half of the year but certainly no doubt growing at slower pace first half of the year, but i am looking for 3 to 4%, issue real gdp second half awfully good as you probably know, the federal
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reserve bank atlanta has a model predicting 7 1/2% for the second-quarter earnings side looks really good you are absolutely right about yesterday, the markets, stock market was creeped up about beyond beyond yields coping down why troublesome he perception is delta variant is spreading might cause another down you turn in the economy recession, this morning everybody got up said wait a second bond yields are this low maybe we shouldn't look outlet stocks -- got cheaper yesterday. >> gdp, because this is this is the growth story for if second half of the year a the market bond market watching, so i was looking at overall for are two month recession 2020 we know that now, but gdp 6.4% first quarter, okay? was almost to the record we saw back in 2019, then looking at about 9% for q 2, but then
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those expectations come down for q3 and qthe 4 what does that give you for 2021, about 6.9% growth that is enough is that are we -- expectations too -- >> that is -- that is -- that is extraordinarily strong, though so not sustainable, i mean, we -- we seem to have forgotten that normal was 2% real gdp growth prior to the pandemic. and many pessimists said too low it with a was quite sustainable for a very long period of time we are not going to keep growing 6%, we are probably going to drop back to 2%, by that i am actually more optimistic i don't think actually is going to be normal ahead i think productivity is going to make a big comeback you mentioned all restaurants other employers can't find enough workers they have to figure out ways to increase
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productivity, productivity going to lead to what i think is roaring 2020s up ahead. >> you think productivity because in labor market there is concern obviously about labor shortage we are seeing also concern about consumer prices i covered you know cpi, ppi for the show for maria not doing that because i think it is fun it is crucial to marketbredth what has been showing me showing market consumer prices are going up people are paying more refrigerators electronics, cars, homes i think that was one of the biggest underlying currents of yesterday's sell-off. >> i think you are right, the is concerned be twixt and between, market strong, now consumer surveys people getting distressed about higher prices saying too
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expensive to buy a house a apply annes could lead to a slowdown in the economy so there is sort of confusion what is going to be normal out of pandemic. >> i want to bring admit of rochelle in to this inflation story the fed story, all of this plays into market breadth. >> -- go ahead. >> there we go, there you go, microphone on, go ahead. >> microphone on. the russell 2000 has soldoff considerably, and i am curious as investors start looking for bargains when you have one or two day he o sell-off look at bargains are they rotating back to the russell 2000 looks like it is pretty cheap right now. >> i think we all needing to to the drugstore get a neck brace you can you can really
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get whip -- sorry -- quite a bit, and i think you are making a good point here, it is -- it is a market where the -- the so-called investment styles whip around, very, very rapidly, and it was from early he september, until march that we saw value stocks, reopening trade stocks doing well, the economy led to a rebound in small-cap stocks as well. and now just in the past few weeks we've seen a growth stocks particularly the big cap five big cap names i call them magnificent five, i find it difficult to -- print out -- however, you pronounce that the reality is, they've kind of sucked air out the past few weeks rally all-time record high for market cap i think the market is going to start
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broadening out. cheryl: maybe a stockpickers market next six months. >> absolutely. cheryl: not a bad thing, at the end of the day, ed yardeni thank you very much for being here. >> a pleasure. >> see you soon quite a day for markets quite a day, for the next hour, because we've got a lot more coming up the showdown over infrastructure happening tomorrow kwloouf got congresswoman nicole malliotakis going to weigh in, for jeff bezos into space counting down to launch at t-minus 50 minutes, live on fox business team coverage coming up. ♪♪ ♪
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. >> battle over infrastructure senator lindsey graham slamming senate majority leader chick-fil-a for setting up a key vote on bipartisan infrastructure package before text is fine livelihood set for tomorrow, the causing president biden to get on the phone to schumer and tell him stand down i want to bring in new york congresswoman member of infrastructure foreign affairs committee nicole malliotakis good morning again >> i had karl rove on yesterday he told me this is their attempt to kill the bill. the democrats. because, you realize not getting a bipartisan package through, and then they can pass what they want which is a 3 1/2 trillion-dollar package, instead, do it without republican support. what say you? >> yeah, it could be very well attempt to derail the bill, you -- also could be to try to
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jam things through look, any way you look at it when you look at 1.9 trillion-dollar package nut forth for covid relief, we said that we didn't need that money we needed a fraction of money to do what needed to be done in emergency sayings now spendings all sorts of money all sort of of easier giving to big city mayors combat crimet after defunding police a billion toward housing we have homeless people in streets in our city, we have to be able to take the time to review legislation see what is exactly in it. that page that bill 600 pages, 1.9 trillion dollars they gave us an hour to actually debate it just a few hours to read it, so we cannot be voting on legislation without knowing what is in it, ounls. i think it is you irresponsible moving forward this direction cheryl: where you and your
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unfortunately more and more debt economic story on business network i want to get to cube with you you recently called out your house colleague alexandria ocasio-cortez on her comment that the embargo is to blame for unrest in the island what do you. >> i can she shows the ignorance what exactly is going on on the island i know firsthand i have family there i can tell you there is immense suffering people don't have access to food medicine basics that we have here in the united states most perform they don't have access to freedom, democracy -- don't have ability to elect their leaders predict their futures, the reality is that the embargo would do nothing why? because they do business with nearly every other country in the world for 60 years remained communist dictatorship whatever comes to
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island food medicine supplies regime takes it live like kings everyone else lives in squalor, worse they use this to weaponize against their people if you don't join communist revolution you get nothing they keep people in line keep people in check going it begins their wills they want to be free people they want to have what we have in the united states of america, that is why they were walking in streets with americaning in a. that is why i believe biden administration needs to work with democracies around the global those who love freedom around the globe to put pressure an regime bring abouting democracy freedom to island united nations needs to step up. cheryl: not seeing that why do you think that is? i think with disturbing particularly united nations being so quiet, look. cuba along with china russia, venezuela most egregious human rights violators sit on u.n. human rights council i met with u.s. ambassador yesterday i asked for her support on
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this because it is absolutely outrageous that they are just standing idle while cuban regime is beating their beam, they are arresting their people shooting at their people. and we have to have every democracy across the globe stand in support of free expression free speech free press on that island nation ninety miles away from our shores america should be leading the way you i urge biden administration to really garner support from our allies, to do just this, i am disappointed he has been so quiet i think if president trump was there would it be day of story right now. >> i ams disappointed too congresswoman i was if cuba five years ago to your point every vehicle, new vehicle is either from china or from russia every american car you see from 1955 beautiful but, at the same time, breaking down around me i live in new york as do you i got to ask about erik adams said yesterday that new york has
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quote become a place where lawlessness is the norm, and he also said that he already begun informal transition talks with mayor de blasio to deal with crime what do you mike of what you are seeing on erik adams so far? >> look, i you know i am hopeful that whoever wins mayor's rave no enforce will actually move forward with rewarding law and order the reality looting in eric borough have not seen action from him as leader that have borough to clean things up i keep open mind i think any one is better than bill de blasio you can say for sure the reality unless going to restore plainclothes you haven't of nypd full fund nypd untie hands push governor cuomo to repeal bail we are not going to see real changes those are first steps to be taken to restore law and order in new york city, across our
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state. cheryl: you may not call it refund the police but refund the police, congresswoman nick malliotakis thank you for being here. >> here we can we've got 40 minutesing to jeff bezos making history you are looking at a live picture, this is the crew they are in that vehicle, they are heading to the launchpad we are going to take you live to texas ahead of blue origin's launch, into space, t-minus 40 minutes away we will be right back. . e! four! five! 72,807! 72,808... dollars. yep... everything hurts. only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪
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relax people, my wireless is crushing it. okay, that's because you all have xfinity mobile. it's wireless so good, it keeps one upping itself. cheryl: a federal judge ruling that indiana university can require students to show approve of vaccination before returning to campus in the fall dr. antónio fauci gives thoughts on vaccine
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requirements for children in new interview, watch. >> is it should the covid vaccine be on a list like that that is required for children to be in school have that vaccination? >> that might actually occur. that is not the situation right now. but i could imagine as we get further into this, and we see where we are going, with this outbreak, whether or not going to be essentially with us for a considerable period of time, i would not be surprised that is not a policy right now so don't anyone get confused by what i am saying but i am saying that i would not be surprised that in the future, this is something that would be seriously considered depending upon how we handle the outbreak, if we completely crush this and it stays away and very little activity at all which i hope happens if right now that is not happening. but if it does happen then i don't think you require he that. but if we go into this year next year we see we still have
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a problem with this, there very well might be required. >> mitch what do you think of this? >> well, this real -- this probably the third time i mentioned my kids they are going into senior year in college, and one is private university the other public both requiring it, and both had covid, both of them have natural immunity, and my son actually got first of vaccine regimen yesterday because time is ticking he has to get that vaccine card loaded i thank you a slippery slope issue they both are willing to do it because they want not to be restricted when they get back on campus want to go to ball games the price of admission it is definitely a thorny issue, which i think going to be heavily debated in recent months to come. >> not just you universities,
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to much's point you have to be vaccinated to get in think precedent on educational level, as far as this is a federal judge, by the way, that was appointed by president trump, so that is noteworthy we even saw yesterday the american economy of pediatrics says that everyone older than age two should wear masks regardless of vaccination status when schools reopen, in the fall, so imagine that if three-year-old to having wear ab mask or in my kids' case, five and seven have to wear masks again in school i know a lot of parents are uncomfortable with that some support it you are right vaccine passports, are you vaccinated are you not? and does that allow you to get into a certain place in terms of access or even obviously, a large university like indiana? this is now the new normal i have a feeling based on this decision you are going to see
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a lot of other educational systems, educational institutions, and obviously, businesses saying okay. we are going to make that our rule as well, in effort to protect people. cheryl: all right i want to put our viewers to the live pictures looking at right now we are seeing the crew of the blue origin launch they are now ascending tower once they get go ahead will ingress into the crew capsule that hatch will close at this point t-minus 37 minutes to go means probably getting the launch they kind of pushed back three minutes or so, so about 9:03 t-minus 37 minutes and change regular people jeff bezos not rag, he and brother youngster oldest astronauts to ever go into space the four this there will not be a pilot four average americans again going into space i where i in joe stay with me mitch as well what i think so fascinating we
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look at you launch this is beginning for jeff bezos, what is his dream, he told us he neil cavuto yesterday he wants to be the launching point, because they are the first again, regular folks not professional pilot not astronauts getting into capsule going into space for 11 minute night first ones joe that and hoping this is going to be next generation the generation after that where we all get the chanceing to into space, now for 28 million dollars a seat, joe but we all get the chance to do this again i want you viewers to know who you are looking at jeff bezos, he is founder ceo amazon younger brother mark bezos love the hat by the way, wearing nice touch jeff bezos oliver dammon the young man far right 18 years old son of joe damon ceo of somerset capital private equity firm in
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europe, that is wally 18 was in mercury 13 program in 1961 joe so she of all four that are sitting there, she has the most flight training, what do you make of all this? >> she is most experienced person on there, 82 years old imagine that that she couldn't imagine when 81 years old would have this opportunity but you brought it up, earlier in the show cheryl, i am still surprised that there isn't a trained astronaut or somebody who has done this sort of thing before on there just in case maybe something goes awry i towns show four regular people going up see it can be done i think as a precaution i we have thrown maybe an senate you there just to make sure you know what i mean. >> i point to wally again she was readying to in space 1960s, but was a woman that program i have to point out was scrapped back in 60s, well
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documented likely because it was group of women, and anyway but, again, this is july 20th i want to say hats off to jeff bezos there he is again putting his hat on as you can see here, this is 52 nd anniversary of apollo 11 moon landing july 20, new shepard the reporting alan shepard was first astronaut the new shepard rocket full coverage stay with us. we'll be right back. .
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that building you're trying to buy,
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- you should ten-x it. - ten-x it? ten-x is the world's largest online commercial real estate exchange. you see it. you want it. you ten-x it. it's that fast. if i could, i'd ten-x everything. like... uh... these salads. or these sandwiches... ten-x does the same thing, but with buildings. sweet. oh no, he wasn't... oh, actually... that looks pretty good. see it. want it. ten-x it. yum! . cheryl casone in for maria bartiromo, it is tuesday it is july 20th we are counting down to the blue origin launch, jeff bezos and crew set to blast off in less than 30 minutes, from now about 30 minutes from now looking for 9:03 a.m. eastern time launch, you are looking at live pictures from van
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horn, texas full team coverage live with continuing coverage in a couple moments point taking places to markets a different story this morning with this markets dow is higher by 152 a little bit of rebound s&p up 16 3/4 nasdaq up 55 3/4 rebounding after that big sell-off yesterday. with the dow having worst the day since october european market coming back in green, not a lot but at least a little bit, so that is a recovery, for the european markets and asia you had red arrows across the board japan nikkei worst performer a lot of times asian markets take tone from u.s. markets exactly what happened so we will see how perform tonight. >> americans paying more inflation hit 1:15-year high any next guest, fellow at hoover institution good morning you wrote op-ed in the hill, your arguing that it is
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unlikely u.s. is going to return to 1970s style prices that were rising, gas lines you say still a few shoes that are going to drop what can we expect next? >> that's right i think a few more shoes to drop include the likes of rent, so we haven't seen big spikes in rent over the past year and in fact rent is below its pre-pandemic trend, but at the end of the day represents institute 40% core cpi once rent start to rebound going to keep elevated pressure on overall price that will even as some other transitory factor start to dissipate things like used cars, so i think rent is going to be a big one to watch, as we head through the summer into the fall. cheryl: severe watching the markets watching inflation also watching live pictures out of van horn, texas going to keep this up as we continue this conversation i want to bring in my colleague joe
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concha again i wrote op-ed talked you can about concerns of inflation, joe it is about the consumer that is two-thirds of the u.s. economy and all of the spending that is happening in congress trillion-dollar infrastructure package or three trillion plus seems to be in my opinion, at least, a little too much at this point in the recovery. joe: 3.5 trillion to be compact that is on top, let's not forget 1.9 trillion was passed earlier this year in covid relief, so that is what, if i am doing math correctly 4.5 almost near six trillion dollars additional spending on top of what we were spending already, and thanks for the op-ed, the hill appreciates fine publication you picked right place certainly let me read paragraph you say unfortunate irony if inflation ways surprise to upside president biden indeed will be partial paying for 4.7 trillion spending blowout
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doing so via stealthy tax that most assuredly hits americans earning less than 400,000 dollars i would imagine would bean a democratic house in congress being flipped to the gop, in 2022 if that does happen even senate, 50-50 could very ooeldz be flipped back to gop as well seems the president is betting, his presidency as well, on this package, doing well for all americans, when it does present a big risk in terms of rising inflation. >> it does present a risk, look a lot of supply-side challenges are going to persist for a few more months few more quarters meantime we are just pouring this demand said to stimulus on to the market i think really hoard to see that not increasing the price pressure that we've already seen at the end of the day, over the lower end of the income distribution bear a lot of burden we keep hearing white house tout big nominal
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wage we heard latest june jobs numbers starting nominal wage gains the problem is you can't eat wages, wages have to be able to buy real goods and services once we factor in to account, what has been happening with inflation we see real wages, actually been declining the last month wael weekly earnings were down 1010% inannualized rate 20201, compositional issues at play who is coming into labor force at this point in recovery, even if we demography those issues looking at employment cost index what is happening to aggregate real earnings we see real wages not keeping pace with month-over-month increases in inflation we have been seeing. cheryl: power to your point americans flush with stimulus cash -- markets looking at first half of the year looking
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at strong real sales, strong consumer spending you have the employment picture strong now as we go into second half of the year what i think really was under done for the markets yesterday was this issue about higher inflation, president biden has i don't think go has done a good job addressing people need to even be more concerned about fact people are already paying for, more for washing machine for a car, used car new car you name it, and or a home, a new home, that is something that is the consumer piece of activity, two-thirds u.s. economy what do you think the administration needs to do to respond to this? >> well, i think they should adhere to the hippocratic oath firsts do no harm we saw something similar in 1960s, when johnson administration embarked on great society program. and they had a ton of spending in health care, a ton of
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increases in transfers medicare medicaid a lot of of great society programs all that demand side stimulus near-term bumping up against the supply-side simply couldn't respond, over one, two, three year time horizon, so we saw double-digit inflation in a lot of key sectors people said oh, it is transitory, because of this, because of that in the meantime, inflation expectations became unchord i don't anticipate that we are going to see rerun of 1960s 1970s, but i think fiscal policy is are you going to monetary policy in a potentially tough situation, because look monetary policy is pretty straight forward when unemployment is high inflation really low, he monetary policy is relatively straight so far so good when unemployment really low inflation really high but difficult very, very difficult when you have a situation, in which unemployment is still is pretty elevated you have rising inflation i think that
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is the risk that is posing at the moment. >> i agree with you tyler thank you so much for being here we really pressure it having watching live pictures everybody countdown to launch live in texas jeff bezos is preparing to launch to the edge of space stay with us we are having live coverage coming up "mornings with maria" live on fox business. ♪♪ ♪♪ . experience our advance standards safety technology on a full line of vehicles. at the lexus golden opportunity sales event. get 1.9% apr financing on the 2021 rx 350.
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cheryl: here we go, life pictures right now of the blue origin, and the launch into space, it is now at this point tminus 19 minutes, 34 seconds jeff bezos and crew his brother young senate you oldest senate you blasting into edge of space coming right back jeff flock live in van horn tvs historic day for blue origin weather is also a a factor in you launches how are things down there right now? . reporter: luck they don't launch yesterday cheryl because it was raining, we had wind, it was not ideal conditions would have had to push back. today totally different conditions beautiful sun the sun in my eyes, we are on launch site one where it all
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happens in -- well have to put glasses on to see time but 18 minutes away we are about 3 minutes, probably late from what they thought thought right at the top of the 9:00 how come a little late from that you see the wide picture that is the rocket, beneath the capsule new shepard couple of the windows a tight shot for i just a moment the capsule as well, those windows are massive, 28 in which by 42 inches when alan shepard went up 1961 there you see tighter shot he had a tiny window to look back at earth, these are like big screen tvs live picture truly live picture on them for four folks that are in there. and you know going to be a special one particularly for this -- this wally funk, mary wally funk actual name readying to in space in the
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mercury days, and, of course, the word came down from above reportedly president johnson himself lyndon johnson saying we don't want to put women in space but she is having a final say on this getting this ride today. one other thing i wanted to mention that is that the systems that if something wereing to wrong we don't like to talk about this but maybe it needs to be said because it hasn't been, one percent of all manned flights that have gone up since we started getting into space have resulted in fatality that is 10,000 times more dangerous than you getting on a commercial airliner and there are multiple systems here to try and make sure that doesn't happen here. and then you see maybe mission control this is this is mission control, also here, in the west texas desert jeff bezos famously bought up 80,000 acres out here to making this the center of his
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space operation of you know blue origin. and so, not only the launchpad but mission control 3500 employees not only here but elsewhere around the country work for blue origin backup systems if a problem with rocket we've had nasa had problems, on launchpad people lost lives a system in place, where the capsule could be jettisoned away from rocket even on launchpad if there is a problem with the rocket. once starts going up, the system remains in place, it can separate from that rocket, if there is a problem or explosion the rocket, of course, we in a challenger liftoff, so they tried to think of everything to make this as safe as possible one final note about this flight going to be short. somebody came up to me said what is this going to last an hour or so? is if no last about 10 minutes actually only going to be three minutes or so, that will be that we theless violator
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you see split screen perhaps there of both mission control, as well as blue origin new shepard capsule the other interesting note different from the richard branson flight this is manned but not manned by any pilots, nobody inside the capsule you know, i heard earlier somebody talk about notion of should there be an naut aboard in case something goes wrong? well there is no way to do anything if something goes wrong i know, the famous line, in that movie the right stuff was we are like spam in a can, they didn't want to be unmanned they wanted to pilot it back in nasa days this is autonomously piloted, so if something goes wrong nothing much they can do got to hope for the best but it has been controlled from folks here on earth, here in west texas desert cheryl gentleman we've got live picture up staying with live pictures to launch but they are wearing
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spacesuits but not in full kind of astronaut regalia you would normally see because going to be weightless for what three minutes then kind of back down? reporter: zam short you are right not space they are typically spacesuits we see there are no to helmets not pressured suits the reason a pressizedsuit if something goes wrong for some reason there days a depressurization if a window failed, well -- that would be tough luck in this particular case, because there is no way to repressurize if you don't have a spacesuit on yeah pretty much you know, wearing what they are wearing kind of a suit that maybe would be more akin to something as nascar driver might wear, and -- kind of a little bit more for show
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than it is for anything that would protect them. so they are sitting there -- only wonder ways going through their minds, neil talked yesterday neil cavuto talked yesterday to jeff bezos who said, i know i am not nervous at all not worried because i don't know what i am going to think once i strap myself in so i would i give about a week's pay to find out what he is thinking if strapped in and no way to turn itaround at this point. >> a great view from here just lost it a widerer shot we can see oliver dammon 1 years old, you graduated high school in 2020 father got him seat he was supposed to be on second launch of new shepard what happened the person were that bought the auction seat on this flight said well, decided, there was -- scheduling conflicting we were told i don't know what with scheduling convict, going into
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space wally funk 82 oldest senate you this is all history making the oldest astronaut in space if you go above the line official you've got dammon jeff bezos younger market mark 62, 63 miles above efrth. >> miles up. cheryl: higher than branson. reporter: he went 53 this will be 60 planned this as their actually getting into real space, because the u.s. government recognizes the edge of space 50 miles up. so branson went 53, the international thought about where space begins, of course, this is not you know there is no line up there, there is no -- it could be like equator you know run somewhere we're
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not we don't have that marked on the ground on sky talking about branson, bezos worth noteing elon musk later this year plans to take four commercial passengers up in an orbital flight, they will go into orbit just like john glenn did for the first time, in history. so, you know that is to come that is whole other piece of this story, you know, great thing about this that we are going to see, not only will the crew capsule come down to earth will watch that land here, on the tether of parachutes west texas desert the other great thing we are seeing the rocket come back down land in a vertical, fashion, firing thrusters coming down safely landing itself so this can be reused again and again has been used multiple time already, 15 times, in terms of tests, this is what makes this redo believe makes it almost commercially viable because you can reuse the stuff unlike
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you know, when i was a kid watched as inno send something up there that was one and done, the capsule wound up in the smithsonian perhaps, but this way you get to reuse it, and so it becomes a little more financially doable the countdown clock on our screen is t-minus 15 minutes but it stopped actually, sitting at t-minus 1503 -- 15 testing it no pilot a full automated capsule i think skwlef what is interesting to see watching, with rocket and capsule when they do that separation, i know from the full van tame point like look at when space shuttle used to launch or you know, anybody that is going up
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to the -- space station international space station usually, you could see that that i think amazing pictures we don't know why we're seeing countdown clock stop but at tminutes kind of brothersen what do you make of thes of this they've said clearly going to do everything safety of upmost going to do everything to make sure, if they have to delay they will delay, if there is any kind of a question, with sw whatsoever they will delay. and we have you know we said, we thought you know possible that there would be a delay on some earlier test flights there were in fact delays they felt something wasn't quite right or there was a question about something, and they were going to i mean you know, whoever you got going up there is important you got the richest man in the world, there, and you've got i think fair to say eyes of space
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loving world watching what we're watching right now you are going to do everything you possible can to make sure this goes off without a have itch if that means wait 15 extra minutes an hour or a day or a weak they will do that. cheryl: that is what you do obviously, again you mentioned jeff bezos i think why so much kind of anticipation about this launch right now you've got richest man in the world worth 206 billion dollars, to he launched company 20 years ago bought that land as you mentioned 2005, so this is a 20 year dream nor jeff bezos, and, finally, inside that capsule sitting inside i don't know if the has hat on but had it on when preparing him a minute ago with his brother mark also has -- been obsessed with space this is why they named this new shepard because they named the capsule after alan a shepard who was first
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astronaut in space a child loaded -- who can imagine being that kid wanting going to space being astronaut jeff bezos gets to live that today. . . reporter: worth noting, named after alan shepard would it be accurate to state noteing alan shepard was not first man into space that was at the time soviet astronaut sparked president kennedy to say we need to put a man on moon beat them there interesting pictures additional pictures we hadn't seen before of rocket just before that you saw perhaps where you will see the thrust the reporting fire was described to me in my ear as you were factualing a brief hold no explanation for why there was a hold at 15 but we are counting once again, and we are now 14, you know 20 some seconds, 14 minutes 20 some seconds so we're i don't
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know what -- what is that put it at? about -- i am trying to do math in my head 10 minutes late or so -- and i am -- listening back to my ear -- seeing if they are shedding any light it what that hold was there mission control is not speaking right now so, i don't have anything further on it but we're counting again we're less than 15 minutes away from the first man flied for blue origin. cheryl: yeah jeff again to your point we do have a countdown clock back going, and we don't know why but we're t-minus 13 minutes, joe i think the gravity of jeff bezos building like this after 20 years, and he scheduled it today, on july 20th, because that was the 52nd anniversary
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of apollo moon landing can't be lost on anybody watching this piece of history about to launch again 13 minutes from now, jeff. >> your world play throughout this whole show incredible gravity i see what you did again well done a couple things to note bezos actually donated 200 million dollars to smithsonian institution to renovate national air and space museum to launch educational center because this is his dream, he has dreamt about this has money to be able to do this apparently sold one billion in amazon stock per year in order to put this thing together but, believe it or not, there is another rocket in development, this one is named after john glenn obviously, first american in orbit, that is going to be bigger than one we're seeing here so this may not be last triem -- time we see jeff bezos into space are
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we wonder 10 >> i think what we are on the edge of, on the edge of space, we are on the edge of the next generation going into space, that is the dream of jeff bezos, he said to neil cavuto he wanted the next generation to go into space. we are at t minus 12 minutes 20 second. stuart: we are counting down. a little delay, great coverage so far. we are 13 minutes away from the launch of the "new shepard". it will carry the richest person in the world into space, jeff bezos, at latest count he is worth $206 billion. we are 11 minutes and 23,

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