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tv   Cavuto Coast to Coast  FOX Business  July 27, 2021 12:00pm-2:00pm EDT

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japanese home and did respond toe japanese language. lauren: like elephants in the reese reese witherspoon movie. stuart: where is that dog barking? unfortunately my time is up. david asman in with us for neil. do you have a dog story. david: my 16-year-old dog retains word. we'll see you. welcome to cavuto "coast to coast." i'm david asman in for neil. we're awaiting official word from the cdc. mask wearing, that news is coming up. we'll bring it too you here. markets appear to be rattled in anticipation of the news. we'll give you the latest when
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it comes in. this may be rattling the markets, imf issuing a inflation bombshell, casting doubt on all those who say the inflation talk is a flash in the pan. our experts are here to break it down, what it means for your bottom line. politicians are not immune from the crime wave. a former senator learning that first-hand. we'll bring all the details. first the cdc expected to reverse the indoor mask policy, recommend some vaccinated people wear masks all over again. edward lawrence has details at the white house. reporter: can't get rid of one of these just yet. fox news confirmed the cdc is going to tell folks even if they're vaccinated in some cases those folks need to wear masks in some situations. this is different from the mantra that the white house been pushing for the past several months trying to get people vaccinated. listen to the president from may. listen to this. >> therefore, if you've been
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fully vaccinated you no longer need to wear a mask. let me repeat, if you are fully vaccinated you no longer need to wear a mask. reporter: apparently that is good until about 3:00 today. no longer need to wear a mask. now it seems they're backtracking on the pledge. the business owner wary of back and forth about mandates dealing a set of local mandates from local governments in savannah, georgia, provincetown, los angeles, all reinstated mask mandates. clark county nevada, with las vegas requires all employees have to wear a mask dealing with the public. we talked to a d.c. owner business owners should decide for themselves what is best for their livelihoods. >> we're good people. you don't go into the hospitality industry without loving people, wanting the best
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for people. so we can make our decisions. we can see if something is hurting our customers or it is not. and so give us the liberty. reporter: yo-yo is hard on small business owners. on the liberty front here, the department of justice released an opinion today saying that businesses and schools can force people to wear, to be vaccinated if they want to come back to work in person or if the school itself has students come back in. so again, looks like the masks are coming back. david: that is a very important opinion on vaccines as well from the doj. we have a doj official opining on that opinion coming up later in the hour. thank you very much, good to see you, edward. markets are focusing on the possibility of remasking. of course inflation as the fed meets today. to quill intelligence ceo, former dallas fed advisor danielle dimartino booth. great to see you again, danielle. let me ask first about an imf
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report that just came out suggesting that inflation may not be transitory. that it may be here for the long term. kind of, going directly against what the fed has been saying about it being transitory. what do you think? usually by the way i'm pretty skeptical of the imf. they don't have a great track record as far as i'm concerned predicting what's to come, particularly when i was covering latin america. they got it wrong a lot. who is right on this issue the fed or the imf? >> well i think, david, the people who are right here are companies and we've been hearing from them left and right throughout the earnings season there is no such thing in their cost structure that is transitory. that they're seeing prolonged increases in input costs whether it is freight or raw materials or even services providers are saying their inflation has increased. i think we should listen to the individuals on the ground, not necessarily economists in ivory
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towers creating models, every day in the heat of earnings season there is nothing transitory about the inflation we're experiencing right now. david: of course central banks in other countries have been more lenient than the fed has going to negative interest rates and et cetera. if they begin to tighten would that force the hand of our own federal bank, the federal reserve to tighten here? >> we certainly haven't seen any tightening out of large banks, bank of japan, bank of england, european central bank but that would be a very awkward situation for the federal reserve because we're considered the world's leading preeminent central bank. we take the first step and the rest of the world follow in our path. we've seen north of our border in canada, their central bank begin to taper the pace of purchases because they say it is creating unwanted inflation exactly what we're seeing here in the united states. david: does the fed care about inflation you?
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mentioned businesses. i know a lot of businesses are frustrated with government policies on unemployment checks they say are actually increasing the labor shortage we have in this country. costing a lot of businesses their livelihoods and inflation i would put there as if not number one, at least number two in the minds of businesses. what will it take to shake up the fed to get them to act a little more seriously about inflation? >> well, hopefully, david, they were paying attention to the newswires when you, me, we both saw this morning the case-shiller home price index increased 17% year-over-year. that took out former highs from the housing bubble years. david: good point. >> average u.s. household spends 30, 40% of their budget every month on housing. so right now inflation is harming individuals. we know that companies are suffering but it is also hurting u.s. households, consumers, putting that roof over their head has never been as expensive as it is right now.
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hopefully they're discussing that in washington, d.c., day one of the fomc meeting. david: how would you fed start the tightens process, if they are concerned, they said 2 1/2%, 3 1/2% they're projecting but we're already way above that. it would take a major pull back of inflation to get down to what they're projecting now. if it goes towards double-digit inflation how would they begin to tighten? >> well i think the elegant opportunity for the fed is to say, we're an organization that is supposed to make policy, quote, unquote, in the public interest. clearly housing prices running away, rental inflation running away is problematic to that mission. they can start by tapering, cutting back purposes of mortgage-backed securities juicing the housing market, pushing speculative behavior in housing. they say, you know what?
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housing doing harm. we'll pull back on that, any type of tightening the fed does will be interpreted by the markets negatively and that is the risk that they run. these are policies the federal reserve made for itself in many ways. they made their bed. they're lying in it, david. it is not comfortable. david: you know how markets project. they look into the crystal balls, project into the future. if they get any sense that the fed is serious about tightening, do you expect a major correction in the markets? >> major is a big word. we haven't seen even a 5% correction in the broad indices in nearly 200 days now. investors get upset if you see even a one or 2% decline off of these all-time highs. that is because so much of the economy runs off of the so-called wealth effect, where we spend more, feel wealthier because the stock market is up. won't take much to upset the applecart. we won't have to look too far to
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see jay powell's attempt to monetary policy and his attempt to get interest rates up to 3%. both of which failed. david: we'll see. danielle, we'll have you back later in the hour. thank you very much. extra unemployment benefits could be dragged out if restrictions come back but is abouts in florida say they are finally seeing an increase in applications because those benefits, the federal unemployment benefits were ended there. ashley webster is in florida with the very latest on that. ashley? ashley: david, i'm at the fenway hotel, it is a classic hotel built in the 1920s, seen a lot but not anything like covid. at the height of the pandemic lockdown just seven employees were keeping this plasticking over but getting workers to come back just as it has been across the country has been difficult, but on june 26th, the governor, ron desantis here in
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florida cut off 300 extra a week unemployment benefit and guess what, more people started to looking for work. let me bring in the manager of the fenway hotel. mickey melendez. you were struggling to find workers as were many other businesses but since that little benefit went away were you able to bring more people in. >> absolutely. we've been strategically do an up swing through social media immediately when that happened. we've seen a 40% increase of applications coming through. that is absolutely outstanding for us. ashley: 40% plus jump. when you fully start how many workers do you have? >> 83 to 90. ashley: how many do you have right now. >> 52. without the banquets. ashley: before the benefits cut off what were you trying to do to get workers? were you offering incentives? >> absolutely. posting it on indeed and boost it well do programs for internal
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associates, or bobby, susan, we have a full program. get a full program. ashley: are you still hiring? >> always in this industry you're always hiring pandemic or not. ashley: david i should mention, there was a lawsuit filed, filed in broward county by 10 unemployed people that governor desantis had no right, he violated the law when he ended the benefits on june 26th. that is the latest suit. we had them in ohio, indiana, maryland. by the way judges in indiana and maryland granted an injunction. now that benefit is being paid again. it will be interesting to see what happens here in florida. now the economists tell you the data is little squirrely when it comes has hiring picked up since the benefit went away but you know the business owners here in florida, one of them said it like they turned the spigot back on. i think there is a correlation
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between no money, guess what, you have to work. david: i put my money behind what business people say. they're on the ground. they know what is happening. ashley, thank you very much. consumer confidence despite all this smashing expectations in july but the restaurant industry is still being forced to absorb the double-whammy, both a a lake for shortage and inflation. let's bring in former mcdonald's ceo ed rensi. you talk to a lot of restaurants because of your backgroundis it like ashley said is it like a spigot with the benefits ended? >> i spend 50 visits between restaurants, beauty salons, places like that. i can tell you some they did turn a spigot on. you're seeing more applications. but the hiring rates are low what they need to operate
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restaurants. we have all kinds of problems. inflation is driving us nuts right now. labor costs are going up like crazy. prices for products are going up. portion sizes are being reduced. we have a catastrophe in this country with economic policy. added to that is this covid flip-flop every day. what are we going to do, how are we going to do it. this mask thing scares the daylights out of me because it destroyed the strawn industry for 15 months in this country. david: yeah. it is impossible to eat when you have a mask on. by the way the labor shortage and inflation, we shouldn't lose sight of the fact, those two issues are connected. fewer people you have working, we have 9.3 million unfilled jobs. that is a lot of people not working. that means fewer goods you have being created and fewer services you have, and of course if you have fewer goods and fewer services the prices go up so they are related, no? >> absolutely because all your operating, all your costs of
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occupancy are fixed. so you got to pay those bills. you have to pay the rent, utilities what have you. if you don't have employees you can't serve customers. so you raise prices. additionally, the energy policy in this country right now has caused us to have a real increase of fuel shortage. if you look at commodities in restaurants, we had a huge jump because of price of diesel coupled with the fact we have a huge shortage of truck drivers. we got a shortage of trucks because we're hauling oil around with gasoline and things like that, instead of delivering produce to the restaurants. it's a cycle just vicious right now. david: there is another thing we're talking about. it affects the labor shortage and quality of service. a lot of people are complaining, i noticed it myself here in new york, that restaurants and other service oriented businesses the service is not very good because employees know that they're not going to get fired.
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it was so tough for the owners of businesses they worked for to get them, there is no threat of being fired hang, dangling over their head, so the service quality has gone down as well. >> absolutely. what we've seen happen is some of your more senior, well-trained, seasoned staff that really understand hospitality went home because of the pandemic and stayed there because of all the subsidies from the state and federal government. we had to replace them with a lot of junior people that weren't trained, were inexperienced, really didn't understand the service and hospitality industry at all. there is a certain growth pattern in hospitality through training, education and mentoring that allows people to understand you're welcome, happy to have you, and we're going to take care of you. when you bring in a 16-year-old kid hard to teach that right off the bat. david: we have to go and i'm getting a wrap from my producers
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by i just have to ask, the crime of all this, it would be so simple to allow the market to take its course and to restart the economy, to open things up without all of this government intervention that has messed things up. is that too simplistic a view? >> no, absolutely is correct. the closer you are to the problem, the better the solution. the federal government is the worst expert. state government is the next worse. the guy running the restaurant understands what needs to be done. david: ed rensi, we will have you back later this hour. which appreciate it. coming up los angeles county looking at a basic income program so-called, but critics say they should be focusing on a crime prevention program instead. details coming up. ♪
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it's wireless so good, it keeps one upping itself. ♪. david: so the infrastructure bill, well, apparently it is not on the rocks as republicans reject the democrats counteroffer all while house speaker pelosi waits for senate democrats to pass their separate spending plan. we are talking about trillions of dollars here.
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following it all, hillary vaughn on capitol hill with more. reporter: david, republicans part of the bipartisan negotiating group are trying to work out a deal are trying to put out a brave face after democrats came to them with a counterproductive counteroffer, called the global offer that republicans say walked back several items that the group agreed to. >> we come together as we did last night, republicans, democrat, small group of 10. we went through each of issues. we saw eye-to-eye on those things, but nothing is 100% but things are pretty good. reporter: lead negotiator for the gop senator rob portman was trying to do damage control and calming concerns that this offer could be a breaking point for a bipartisan group. a gop source familiar with the quote, unquote global offer it included two broken promises. the deal added a prevailing wage for all infrastructure projects,
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everything from school buses and ferries to ev charging station which critics argue that brings up a higher tab for taxpayers making every project more expense system. the global offer wouldn't debate pay-fors until existing cash to pay for it ran out. leader chuck schumer today is still promising to get a vote on the bipartisan bill keeping the senate through the weekend. even if it passes the senate this week, democrats in the house including dem caucus chair hakeem jeffries are not they are not eager toe sign what comes out of the senate. >> wee await what comes out of the senate. we anxiously await the results of the bipartisan negotiations but i think our posture is always on any piece of legislation that nothing is agreed upon until everything is agreed upon. reporter: david, some top democrats in the senate are being kept in the dark where
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things stand. number two democrat, senator dick durbin was asked moments ago where he knows where the bipartisan hawks stand. he replieded nope. david? david: at least he is eloquent with a simple one word answer. thank you very much. get reaction from republican indiana senator mike braun. good to see you, senator. i got to ask a very simple question, why did the democrats call their a global offer? lot of people think they're spending too much for offers. >> i call democrats political entrepreneurs. david: that is an insult to entrepreneurs, sir, forgive me. >> i know but i am one so i know the difference. they are up to, we did 4 trillion last year. did two trillion already this year. it is creating an inflation bomb that will be exploding from here
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until the midterms but the big issue they're up against the calendar. we're here 36 weeks a year, maybe 3 1/2 days out of each week and they have frittered away a lot of time. biden is mostly responsible for this. maybe thinking there could be some type of way to fool you into going along with this discussion. it is stumbled along the way. we had a deal and now you just heard it. i think republicans are in a spot where we hold the cards here. we can point out with everything that is wrong and they're up against the gun because they're running out of time, not only for this, their reconciliation bill and plethora of other crazy policy ideas out there. david: but there is a cost to republicans. a lot of people say how can republicans hold democrats accountable for inflation if they go along with a spending plan on infrastructure that first of all has a lot of stuff
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that is not infrastructure? if they're talking about immigration and all kinds of stuff, that doesn't detail taxes, new tax income that is supposedly will come from raising taxes and that could lead to these other trillion dollar plans? >> great point. not to mention that the debt ceiling is going to have to be raised as well and i hope every republican let's democrats own that tricky manuever in a month or so you're 100% right. it is fait accompli, pelosi said we'll do 3.5 trillion through reconciliation. to me that hurts the conversation on hard infrastructure especially with squishy pay-fors. we have to articulate it that way. we'll be complicit in trying to push hard just for the sake of having a bipartisan infrastructure deal. we know that infrastructure probably along with defense,
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maybe shoring up entitlements, important to republicans and democrats but in this case they have gotten very risky politically by putting this all out there and i think we're not only going to have inflation to deal with, we'll have a broken economy even though we're feeling a sugar high into the 2022 election. david: sugar high is very dangerous on many occasions but the final question is, have to be really short, do the 10 republicans have the backbone to walk away from this deal for the reasons you suggested? >> i think so because they're going to be reminded by the other 40 why just for the sake of getting a deal done don't roll over like we've done on almost anything since i've been here 2 1/2 years. david: senator mike braun, thank you very much, sir. good to see you. good luck. >> thank you. david: crime on the rise. coming up how a former democrat senator experienced it first-hand. we'll be right back.
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david: from coast to coast crime is on the rise. former senator barbara boxer revealed she was attacked and robbed in oakland. claudia cowan has the latest. claudia. reporter: hi, david, the former senator is talking about this incident yesterday. she says it was a scary attack that really shook her up. she is thankful she was not seriously hurt. now this all happened in an area called jack square. this is a busy dining and retail area along oakland's waterfront and near a building where boxer has an apartment. she was alone, taking a daily walk around the neighborhood and talking on her cell phone. she told fox that she was approached by a young man who
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got out of a black sedan and attacked her from line and made off with her cell phone. >> my heart was pounding. my head was shaking. i was glad i was on my feet. it is nerve-wracking but all is well. i just, i feel bad because i love this town. reporter: this comes a month after the oakland city council voted to cut more than $17 million from the police department's budget. as incidents of violent crime in oakland are on the rise, robberies, carjackings and homicides. former president donald trump used the attack to slam boxer's party. he called for more police support in new york, detroit, los angeles and san francisco. issuing in a statement, these cities are paradise for criminals because of democrats. we must give power back to the police or america will never be safe. we can't let communist democrats
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destroy our great cities. columnist for "new york times" called that narrative a red flag and they want more resources to deal with incidents as they happen. oakland police are investigating this case. they are looking for the black sedan, the getaway car, it may be the same vehicle used in other vehicle break-ins in that neighborhood yesterday. they are also offering a 2,000-dollar reward for information that leads to an arrest in this case. david? david: claudia, thank you very much. instead of addressing the rising crime we've been talking about, l.a. county wants to test out a universal basic so-called income program. back with former mcdonald's usa ceo ed rensi. ed, you can't make this stuff up. this is clear lie not only affecting people's safety and their lives but affecting businesses all over the country. i don't think new york will come back unless it addresses crimes but they're still trying out the pilot universal income programs,
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what do you think? >> well, clearly small business are being terrorized by this crime. i even know in my own neighborhood people are afraid to go downtown to shop and to eat and to just walk around to see the scenery because they are uncertain. fortunately in florida we haven't had that problem but i love new york city. i wouldn't go there on a bet right now. i love l.a. i go there when i have to for board meetings. but i got to tell you, it is really scary to drive through some of the neighborhoods, when a small business person operating their business, someone comes in and walks away with goods, nobody stops them it is a tragedy. defund the police will never work. it is insane. it's a bad policy. it's a bad idea. it is a bad ideology. you can't have it. david: the crime of it all, the big crime here, we know how to solve the crime problem. we have done it before. i moved in new york in 1980.
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we had giuliani come in '93. he turned the city around with broken window theories. you stop the small crimes, you stop the bilge -- big crimes. we know how do it. >> absolutely. my father was a deputy sheriff in ohio. he said talk to the young people before they make the first mistake. talk them rest of their life when they do something small. stop them then, they will never graduate to a bigger problem. i think giuliani was absolutely right. i think of l.a. and the minimum wage thing. we have so many social programs in this country to take care of people that need help. the most important thing we could do to help people that need help is jobs. trump proved it. we reduce ad teenage
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african-american and hispanic employment to the lowest level ever. that is fantastic. that we need jobs, we need people, to have a sense of self-worth. we're earning a living. it is theirs. not ours given to them. david: ed, despite the fact that president biden said we have a strong jobs program under his administration. it is basically an anti-jobs program. paying people to stay at home. we talk about universal income in l.a. we essentially have that. we've been trying it. it doesn't work, not only doesn't lead to labor shortages for small business. it leads to inflation as we discussed before. >> there is no question about that. people feel better about themselves if they're contributing. just to get a check to sit around and do nothing you get bored. people get bored. we're social animals. we need to be out and about. if you pay somebody for doing nothing they will do something and often it is the wrong thing. david: i agree with you.
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ed recognize sy, great to see you, great to have common sense on display at fox business. we appreciate it. >> happy to be here. david: thanks very much. stocks extending their fall as we await new mask guidance from the cdc. what wall street is saying about return to work plans. that's coming up. ♪. liberty mutual customizes car insurance so you only pay for what you need. how much money can liberty mutual save you? one! two! three! four! five! 72,807! 72,808... dollars. yep... everything hurts. only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪
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the d.c. police force described how they were punched and kicked. one officer said he didn't recognize his fellow citizens and broke up during his testimony. >> there continue to be constant trauma for us every day. >> some people are trying to deny what happened to whitewash it, to turn the insurrectionist into martyrs. reporter: d.c. officer michael had contempt for lawmakers he was trying to protect. >> i feel i went to hell and back to protect them of people in this room. too many people are telling me hell doesn't exist. or hell actually wasn't that bad. the indifference shown to my colleagues is disgraceful. reporter: there are two republicans on the committee, both appointed by house speaker nancy pelosi. liz cheney of wyoming says her gop colleagues are trying to shield the former president. >> we must also know what
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happened every minute of that day in the white house. every phone call, every conversation, every meeting, leading up to, during and after the attack. reporter: the gop contends the investigation is tilted to protect pelosi and those ultimately in charge of security. at the capitol that day gop members not on the committee want information from former sergeant-at-arms paul erving. he has not been cooperative. david. david: chad pergram in d.c. chad, thank you very much. still ahead the nasdaq is way down ahead of big tech earnings this afternoon. our experts sort out what is happening there. that is coming next. ♪
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check it out at that's a-e-r-o david: nasdaq is down 2% with big tech earnings after the bell. we have danielle dimartino booth and with us george seay as well. george, very often when interest rates go up that hurts nasdaq.
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interest rates are down. that is not affecting nasdaq. there is concern about supply chain for chips or what is it? >> hi, david, people always want to find an excuse for selling behavior and i think reality is we're in earnings season. a lot of traders will sell the news when we get results that they're so extraordinary looking at purchasing. we're looking at tesla, tesla blowing the doors off the numbers. it has been soggy stuff for the last couple months. even if you're doing well operationally doesn't mean you're a solid stock. people are looking profits, maybe i raise cash, waister and play another day as valuations drop off. i think it is classic sell the news. david: danielle, there are snarls in big tech supply chains including china giving leg up on
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chip manufacturers in the u.s. a lot of heavy industry needs these chips in order to stay in business, most notably the auto industry. is that part of what is happening with tech? >> you know, to a certain degree it is and you know there is also not a stimulus 4.0 check sitting out there. but to your point, david, since 1990 we've seen as a percentage of our economic output investment by companies declined from nearly 5% to about 1 1/2% in 2020. this is the price we're paying really for not having more manufacturing. not home growing more of the supplies we need. we obviously saw big backfire in the pharmaceutical industry shortly after the pandemic hit. now we're seeing one in our manufacturing sector to that same degree. david: george, let me go back to tesla for a second here because of course it is an electric company. this administration is really focusing getting away from
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fossil fuels. getting into electric. of course there is a big question whether our electric grids could handle all of that. is it worthwhile looking at stocks that might accompany the administration policy plans? >> i think it is really a tricky dance, david, to be honest. i think it is an interesting bifurcation between tesla the company and tesla the stock. for the last, three, four years, tesla has kind of been a meme stock before meme stock existed. where everybody wanted to trade, everybody betting on future. the future is now for tesla as a company. they're very profitable, it's a growing concern made short sellers we're betting against. they thought it would fail. it is tricky to play deals where we're betting on future, companies with great growth rates but no profits that kind of pivot point between when it's a freight stock, when it a great company without a great stock is
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really hard to gauge. those are highly risky plays to play well. david: what do you think, danielle? is the biden bet any good or should you ignore what they're doing in washington and focus what is happening with the companies? >> you know what? i will echo george's sentiment. those of us channeling our inner warren buffett who said you should never confuse a great stock with a great company and you know, we've had anticipation of tesla becoming a great company for years now and my hats off. they were extremely innovative finding a way to around the semiconductor shortage in this latest, in the latest six months or so. that is what we want for american companies to be. we want for american companies to outinnovate the rest of the world but again if it is already priced into the stock from an investor perspective, then you might take profits and run. that is what we're seeing in many cases. david: george, we have 20 seconds. are we still in the melt-up mode in the markets despite today's
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sell i don't have? >> i any -- i think we're in the chop mode david and get a brief selloff. i expect us to close the year strong. unless the economy slows down significantly or much higher interest rates it is clear sailing. the gains will not be as large as they have been the last year. david: george, danielle, great to see you both. happy investing. thank you very much. wall street weighing expected changes in mask guidance for bringing people back to work. our own charlie gasparino i'm sure you have heard has been ahead of this story from the very beginning of this and he joins us now. i'm thinking that some of those big bankers that were calling for people to come back should have listened more closely to what you were saying, charlie. >> to be honest with you i was getting guidance from them based on what the cdc would recommend and what local officials would recommend. the banks are located here in new york city.
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we have extremely high vaccination rates here, extremely, we have very decent hospitalization levels so we don't have, we're not in a situation we were back in march of last year but still if there is a guidance we get out of the cdc today, and it says mask mandates in new york city, well then, i think all bets are off. let me read you some of my reporting. they are planning reopening the big wall street banks. this is mainly the big ones. jpmorgan, goldman sachs, morgan stanley, with the strictest back to office. goldman and jpmorgan are like comeback today. morgan stanley saying we expect everybody back by, or most people back by labor day. they, they are waiting for more local guidance and cdc disclosure what areas of the company will be focused on the indoor mask mandate. it is unclear and i will say, they doubt new york will be on that list because of what i just laid out earlier.
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high vaccination rates. low hospitalizations. caseloads are going up but we're not where we were in march of 2020. so they doubt that new york is going to be in that but if new york is in that, david, you literally cannot bring thousands of people back in an office environment to work together that are masked up. you just can't, you just can't communicate. traders can't communicate with investment bankers, vice versa. it is hard to have meetings when everybody is masked up. if new york falls under a mask mandate wall street probably, it is, it is possible, but what i hear from the ceo's and the people in the c-suites of major companies planning to be reopened, it will be extremely difficult to integrate thousands of people with masks in a office work environment and that could all likelihood end the return to office. let me tell you something, wall street doesn't come back, this city will have an amazing, it will be a terrible blow to
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our economy. david: yeah. >> things are just starting to pick up with restaurants and local businesses still need this. this could really, this will be a dagger through the heart of the new york economy but we'll see how it plays out. david: there are two or three things make new york worth living in despite all of the problems. the fact that it is a financial center. that makes it necessary for a lot of people to be here. the other is the theater district. don't discount theater. if the mask mandates kill reopening of broadway, that can do it too. you can't eat with a mask on that. would be another blow with the restaurants. >> usually the indoor mask mandate you take it off when you go into the restaurant. david: it hurt. >> some of this makes no sense. think about it, you walk into a restaurant, you can eat in a restaurant as long as you take the mask off but you have to walk in with it on. think how absurd that is. david: i know. >> the other thing, i'm not sort of anti-science, anti-mask guy,
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if you tell me to wear a mask i wear it, what is the science oning mask wearing? it is all over the place. david: the bottom line, as you say, if the mask mandates come back, could we hear from some of these big companies by the end of the week in terms of changing their views about bringing people back? >> i think, i think -- david: quickly. >> speaking with them, by the way it is a moving target. what is good five minutes ago may be different couple days. maybe jamie dimon says come back to the office with their mask on. i think if new york falls under a indoor mask mandate there is going to be a changing guidance. they will have to do something -- david: quick -- >> about the reopening. david: charlie gasparino. >> i don't understand how you cannot. david: bearer of bad news. good to see you, charlie. fears this new mask guidance is overowe rook -- overreaction from
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neil: welcome back to cavuto i'm in for neil cavuto and david departing a busy second overhead as markets are retreating from record territory in our top story know this hour is that more mask guidelines and more vaccine mandates and the government is ramping up its
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rulemaking once again. were going to get reaction from former justice department official ian coming up and then china foxing the biggest since 2008 amid a growing crackdown and tennessean senator marsha blackburn is here and what we need to reconsider reliance in china and getting creative to combat the worker shortage going to be talking to white castle about whether the good old-fashioned cold calling is working to get workers back into the door pretty but first were top sorghum the cdc expected to get new guidance on mask wearing 3:00 p.m. eastern time today pretty edward lawrence as a sneak preview from the white house. reporter: he vertigo dig deep out of the drawer, it appears they're headed back to the mask mandate pretty "fox news" has confirmed that the cdc recommended in some cases, some vaccinated people should be wearing a mask in some circumstances. this is all because of the delta.
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the cdc said the delta varient 83 percent of new cases will the delta varient is more infectious but most cases not causing hospitalizations are debts for people who are vaccinated and still in about two hours the cdc is expected to take masks should be used for some vaccinated people predict already local governments are going back to the mask mandates in los angeles, st. louis, savannah, georgia and asked that you sent. those cities are requiring a mask and doors regardless of vaccination are needed in nevada, and las vegas, requiring all employees to wear a mask. when they deal with the public. in 1800 small businesses and restaurants said that this yo-yo effect is really affecting the small restaurants. >> i think as business owners try to figure out what is the best thing to do for the business, there are also kinda between a rock and hard place. i think they should have the liberty to be able to have as
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many people i guess or do they need to do. reporter: the department of issuing this opinion, in it they said that business is that the schools can you mandate the people going back in person be vaccinated that means if somebody is going in person for business, j.p. morgan, as charlie was just talking about a bank of america come than they have to be vaccinated if the companies decide to do that. the universities and students and students go back in and the universities mandate legally, they can mandate that printed suet we will talk about that, thank you edward. reaction for former justice department official ian about this new decision by the department of justice, ian, i'm looking it over and it's a pretty sweeping opinion. what is your opinion about his grade. guest: on the background from the office of the council and the department of justice is really sort of the internal
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lawyer for the administration. no come up with opinions that guided the administration and how to do things within the government. but as far as this decision, what is said is that the emergency authorization a piece of the fda statute, does not prevent agencies or businesses from mandating vaccination based on a variety of factors and what it does not do however it is actually mandate that those businesses require vaccination. so if you were to bring a lawsuit against a business, or agency saying that i do not want to be vaccinated, you could not, we still could use this rationale but the doj is saying that you cannot, that is nonbinding but they will likely use that as their authorization to impose these rules on federal agencies. david: sorted to go from here. suppose, will is there any possibility of challenging it and does anybody have standing to challenge this decision. guest: certainly, if for
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example, the department of education were to implement this and say that everybody be vaccinated, you can challenge it one of the century itself just because the doj and the loc said their interpretation is that it does not bar mandatory vaccinations. into there a host of other things that you can challenge on religious liberty or challenging on medical exemptions so there are still ways that people can challenge whether it is a business or an agency is implementing mask mandates. david: and are still people who have different opinions, i mean, we have had doctors, saying that if you've had a covid-19 in the past, chances are that you have a better chance of avoiding reinfection and people with vaccines pretty so if i've had covid-19 in the past, would be an exception predict you have challenges like that right. guest: absolutely, multiple challenges you will see challenges from bridges
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religious and mask mandate issues you going to challenge it there so i would caution just because the office of legal counsel said that the statute said xbox or z, does not mean that the court is going to say that's what it said, that's just an opinion and given to the administration and how they're going to do with their own internal agencies in the department. suet what happens if it court does side of this opinion, is this a precedence to get the federal government power over our bodies is never have before. guest: while it certainly concerning i think that if the courts were to rule similar to how loc, the council house issued their opinions, then you would be looking at a congressional act. legislation that amends the fda act that requires that are does not require for the emergency authorization and businesses and agencies to require vaccinations. so is very complicated but i think this is it very narrow
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ruling from loc. not sure this would be backed up by the courts and again a host of other ways that people are going to be able to challenge this if it works its way into businesses and schools and agencies etc. david: so is not written in stone yet, that is the bottom line printed. guest: no, it is not written in stone yet, just an opinion from doj prey to. david: for informative. it is overreaction of what is going on there. this ask senator marsha blackburn and she joins me now rated center, was wonderful to see as always, pretty think of this rule, will not a ruling by this opinion by the doj. guest: we know that businesses are able to conduct business if they see fit when it comes to masks, i think the thing that is of concern to me is the generalized mask mandate that say that everyone has to wear a mask everywhere.
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we have been encouraging people to get vaccinated to talk to their physicians, to see if they should be vaccinated. and when you have these generalizations and adjust as, but why should i go do this or that or the other if there's another benefit or no benefit for it so we will be watching closely to what the cdc has to say this afternoon pretty we are concerned they may come forward and try to put children back in mask and children are look risk. we've had hundreds of personal much about the psychological effects on children from having to wear the mask, and children that have skin issues because of mask. and so we will be watching this closely. david: indicates back to the issue bothers a lot of people, one-size-fits-all. for a big like ours that has very different rates of vaccinations for example, very different rates of infection etc. should this be handled more by the state then by the federal
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government. guest: in by the individual and by the business but of course there is great debate about whether the mask mandates are really working, you are mask to protect yourself. and so i have a lot of problems with these one-size-fits-all as you say, these orders. they come out with everybody having to wear this and people should talk to their physicians about healthcare issues. is not something that we should be seeing federal government make a one-size-fits-all decision for everybody in the country or for all schoolchildren predict. david: is a mask guidance by the cdc. it vaccines manic they were talking about those two words are pretty difference, guidance is very different from a mandate. guest: sometimes you have gardens and directives that come from different agencies antibodies within that.
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the language that would end up imposing a mandate. so we will be watching this very closely. david: center you have been boarding the biden administration about america's reliance on china for an a lot of other supply chains and we face major shortages within we now have the shortage of chips, a lot of companies are desperate. returning to whatever country can provide them, china can provide them at the moment more readily more quickly, maybe not more efficiently though in the u.s. companies. what you think about all of this, what are companies to that are desperate for chips. guest: we talk about our nation critical supply lines, and among that telecommunications and pharmaceuticals but also our ship processors and this points out is that you needed to break this production back to the usa or to our allies so that you
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have a consistency in the supply chain. you know you not going to face disruption from someone who in essence is your adversary. china has taken our jobs and sit is this virus we have shortages in these critical supply line areas prayed at this point and we also have an administration who is not moving forward imposing sanctions in dealing with china. a robust manner which the previous administration president trump, dealt very effectively with china. so therefore right now, we are saying all of the shortages rated bring that production back. sue and there is one policy from the trump administration at leat at the biden administration is continuing with, the dutch company that manufactures a big machine that essentially allows companies to bring chips more easily and so far we have been pressuring the dutch to hold off
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on getting that to the chinese are selling that to the chinese. i'm assuming they support the biden administration on this policy which started by donald trump. guest: yes and supporting also bringing back incentivizing this manufacturing to come back. this needs along lead time and am fully aware that when it comes to microprocessors and batteries, you have suppliers in michigan, and tennessee that are already working on this and how you close this gap. make certain there is a consistency supply chain. david: a lot of manufacturers say we can do it just give us the freedom to do it. guest: and the tax credit predict. david: senator marsha blackburn, thank you. some cities want to defund the police and why officials may want to pay attention to austin
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as austin texas a officials debate their police budget for next year the city is doing a major dilemma from last year's decision to cut million eight of dollars and putting them into major crimes bike. in austin texas with the latest. casey. guest: hey david, currently searching nationwide by the way for a new lease chief at the moment in fact one is expected to be named at the end of august and whoever gets the job, one adapt have major challenges ahead and a lot of work to do. because not only are they dealing with staffing shortages, the department itself is down by more than 150 officers currently predict the skyrocketing crime rates in the city's wealth and murders in the metro up 96 percent according to the data from june 2020 until now. and many argue this is fallout
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as you mentioned, the city council last august slashed the police budget by 21 and a half million dollars predict and another 128 million was funneled to other city departments predict. >> we have got to catch up and we have to make evidence-based public policy decisions, keep the community safe and not be reactionary and reckless. guest: prologue enforcement groups are taking the city council to reinvest the money for next year's budget just what they're considering now and supporters of defining the police however, say that the staff are being manipulated. >> this another danger, there's no latest as part that in the police prevent violent crime and there's no data to support that. guest: lawmakers are also trying to create consequences for texas
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city who try to follow austin's plan like freezing property tax reimbursements to larger communities if they have reduced their police funding annual budget from the previous year. david: no data the more police leads to less crime, that is very interesting, there are that assemblyman prayed thank you very much for that and appreciate it and democratic congresswoman alexandra making new plea for prison reform made a growing crime spike. [inaudible]. black and brown men. [applause] i want justice. that is what i want. david: three action now from former nypd lieutenant darren.
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lt., is what aoc things, what you think. guest: i think it is going from republicans we have someone like aoc that's in relation to the public safety and she clearly does not have an understanding of the empirical data that goes under the placing it so she just basically spewing off the cuff and we look at what is happening more specific to austin texas, the defending of the police budget, as for the citizens in austin texas in harm's way and you no longer have the resources that avail officers the speedy response and you see a more prolonged response is resulting in carnage in the city of boston as a result. right austin. suet they reject a lot of the data that is clear to everybody but she is a limited member of the democratic party and you think the democrats are wishing that she would just be quiet about this. guest: wealth aoc rejects comments and so this is par for the course so when we look at what her position is in
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connection with public safety, it is all the same. and i believe that hierarchy within the democratic party rejects a lot of the notions that aoc is looking to push forward and we thought in the presidential campaign. a classic example when joe biden had aoc speak, she spoke to this bernie sanders so sheet in no way shape or form represents the majority of the democratic party but it goes back to the public safety sentiment in a place like austin and is very easy strong parallels in urban democratic-controlled cities in the united states which is a resulting in extreme rise in crime. david: i think most americans care more about the safety of themselves and their families in the business as they do about political rivalries. and we know it is marked in the past. the broken window theory that if he stops months crimes coming may stop be crimes because a lot of people do the small crimes also do the crimes, that worked in stopping crime in new york in
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a tremendously the 1990s when her mayor giuliani. clanton example broken windows. when i use you are looking at is a setback on the greatest wetsuit, just jump the turnstile and he is then suspected it is a person committed that horrible beating of the 68 -year-old man on the street in brooklyn over the weekend. lead to severe injuries and that was not again there, were looking at it now. that is an example of broken windows of the sort of proving the point that if you stop the small crimes, that bigger crime, that violent crime that we are witnessing would not have happened. guest: i whole heartedly a great i was a cop during the '90s when giuliani was mayor and we had a proactive enforcement mechanism. i think were in the state of emergency connection with public safety at the present time. and therefore we needed to introduce proactive enforcement. now enforcement is not something
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sustainable over the long term prayed but initially we need to gain a precipitous drop in the crime pretty so i need to be proactive we need to have more enforcement and then a period of time, that is when we need to bridge and a police and community relationships in place and community relationships should always be a part of the context of policing but right now, we are in a state of emergency and we need the enforcement capabilities to move forward as a result. sue went new york los angeles and chicago, they will come back after the pandemic walked as if we don't deal with crime. indeed criminals eight and things like that in so-called small crimes, is not going to do it. lt., darrin porcher, thank you for being here. guest: it always a pleasure. suet left of the break the world wide ship crunch putting big tech invite. we explained right, that could mean for big tech earnings which are coming out this evening when we come back.
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david: as we have been telling you the world wide ship crunch putting a big tech in big pine raising concerns over when the prices could catch up for the rest of us. susan lee has the details on this. guest: will a lot of big businesses have been impacted by the global chp shortage and yes that includes apple the world's biggest comedy reporting results later on today and the biggest carmakers including ford and gm also an item plans because they cannot find chips and includes it gm final all this week and they've been impacted as well predict remember us around, glass earnings for apple, the ceo was saying that the global chip shortage one impact apple sales up to $4 billion in this quarter and were still affecting a huge number and huge quarter
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for apple earning some more than $73 billion in sales that are expected just three months in the springtime and extrapolate $17 billion worth of profit and that would be a record and look at those profit margins, that's incredible. they have over 50 percent and never looking at another $34 billion in iphone sales and is three months and services will be inch, 16 billion and counting and yes tim cook school of 20 percent their overall in the research mass sales and to stay home, work and schooling and that is something that we've not seen for a long time. we've already heard from tesla you on bosque about the risk of chip shortage and lack of parts which will be a huge risk this year with the deliveries. and a global chip shortage situation remains quite serious in the video for the rest of this year and the rate will be
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the slowest part in our supply chain which is a wide range of chips used in tesla vehicles. not just apple earnings were exciting microsoft earnings as well and you can imagine that also began councils in the xbox off of those devices, might be impacted by the lack of chips partied and they will have a huge quarter and recovery already saw and illustrated big numbers from snap and twitter. so overall, i would say it is a big it just keep on getting bigger. david: exactly, and with a profit marchers under margins as big as have is no wonder they are getting bigger as the folks with the small businesses that have 4 percent profit margins, they can't afford to pay for labor. is that simple. they're the ones hurting the most. will investors, laser focused right now into things, inflation fears and worries about new covid-19 mandate that are altering averages retreating from records today the federal
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reserve kicks off its latest policy discussion in the spring and guest predict thank you for being here bottom line, what you think these markets, the inflation which is a real thing and looks like it's getting wor, our concerns about the pandemic. guest: i think both of those are valid fears and today i think it is china, all the names that are down the most, our names exposed to chinese revenue or tiny labor or chinese growth. take a look at that semi conductor stocks and just mention a party all china and all of them are leading the way. david: what is the primary concern, the government there has had it with these brief willing companies in the putting the screws on and that means they are not going to be acting like a big companies anymore. guest: will break down, taking aim at chinese companies which is going to hurt chinese growth. he's asserting his power is what they do over there.
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it's more about labels than them for then for money. just a shot to that u.s. companies to do business in china read things in china, let's take nike or apple or starbucks or tesla. it is one of those jobs this coverings employ people liberty might want to rifle a little bit. i don't know a lot of the stocks but i really see reason to credit lightly here now and know your target place in your panic point. know what you want to add it in all of your positions because going to need to follow your technical emotions like they make it carried away this week. david: is bringing it back home for a second because i'm not going to make bets about politics but i know that the policies laid discern to the economic realities in one of those things you spent a lot more money as a government is doing, you create this labor shortage by these policies that give people more money for staying at home than to go to work candidate you end up with
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higher prices. isn't that inevitable an event fact we have these mandates that keep people at home longer and extend the unemployment benefits, this situation my continue on in the fall. guest: the official policy is a bigger point than monetary policy and i really am kind of in favor of the infrastructure bill but definitely not the other $3.5 trillion ideas. that can really get us in trouble according to what you mentioned it right there and as far as the fed, amusing home prices this morning printed they can stop by the $40 million worth of mortgages six months ago and not hurt the economy. david: why aren't they doing that. guest: is beyond me because that hurts household formation and the young people predict new people are so upset these days rated some of the ghost of the fact that they cannot form families find property. david: and are competing with
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the fed. it is so often the case now in particular environment, we the people are competing with our governments whether it is competing with the fed and mortgage-backed securities are competing on flavor for the government freighted giving you more to stay at home to go to work. we cannot compete with the government predict we should not be put in a position should week. guest: we certainly should not be. this is unique and i understand people were out of a job raymond afraid to go to work and they still might be. this delta varient is scary and i had a very lousy case about myself so i don't knock on anybody who wants to wear a mask. but you really need to get vaccinated so you can get back to work. i know we need to support people for a while but not forever. this cannot become permanent policy. maybe like european countries,
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we have to put into it. david: thank you. [, white castle getting creative to combat the growing labor shortage, the vice president of marketing is here to explain up next.
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david: rising costs from companies means consumers are stuck paying more than one of the sneakier ways is by selling products with smaller portions for the same price predict happy grocery store in chicago. a lot of people are unhappy about this. guest: i guess so david, it's called translation they might not even notice that you're getting less food every time that you go to the grocery store
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you're paying the the same amount so i have this cart full of goodies here is all different types of products from bleach to cookies to cereal and 11 has gon smaller but you're paying the same price for it. these doritos used to come has nine and one quarter ounces and attend granulated sugar is becoming a 5-pound bag and now it comes in a 4-pound bag in the me show you how settle this is in these pictures. these wheat thin boxes have gotten slightly smaller but you only notice if you stop that side-by-side picture. an unstoppable from daily, they shrunk it cop quite a bit as well. so it is across product category. the owner. :-) so i've got no, the customers noticing this rate is working to pretty. >> the only place to notice it is in the meat, the perishables the common that they see day to day like this but this they don't know.
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guest: so you can't hide inmates like this pretty. >> there almost like this kind of you know. [laughter] >> and customers are none the wiser ago pretty did you mention all sorts of products that is happened to him and what is the reason for it from the companies, what do they tell you. >> 's distribution cost, they don't have the drivers and the customers as far as the ghastly energy. guest: so this article alone, we have cereal boxes over here and we have paper goods and trash bags, cat food is happening to all of it. so keep your eye out when shopping and instead of just comparing prices, also compare the size of the boxes and bags and everything else that you are buying because it is a way to raise cost and tap them onto the customers without them potentially noticing it for now. david: eventually the consumers catch on to what is going on. because of reports like yours as well pretty thank you very much and fast food chains are getting creative to combat the ongoing
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labor shortage. white castle now cold calling, 550,000 passed applicants to offer them a position in the restaurants and attract new parkers. joining us now is white castle vice president of marketing. jamie richardson, 550,000, never heard of any company keeping record is that longer. i will do they go back four. guest: what you know david here in castle and were celebrating our 100th birthday a family owned business i literally over the years with god and millions of people their first jobs saw records go back as far as four years ago to somebody of started the application maybe because for whatever reason. we thought we would reach back out and say hello. see when you are not a franchise company, your privately owned did you do not have franchises. so maybe a bigger pile of cash to deal with but you have to be offering some of that cash, what are you offering these applicants that they could not get elsewhere. guest: one of the things were offering is letting them know if
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that we have been certified as a great place to work which is a big deal, the only fast food consumer packaged goods food business picked on the west and beyond are paying competitive pay and things that on the service might not seem to matter to a lot of people but their big deals your key members like you get paid weekly, you don't have to wait for the 15th or the 30th and you getting for free when you're on the job. as a great place to be so inviting people to come behind to join us. david: is a competitive pay, to be competitive, with what the government is offering an unemployment benefits you have to be paying a lot, at least i would guess at least 15 bucks an hour, no. guest: some are starting pay at $15 per hour and 70 martin members just to the fact that they can affect small schedules and so many folks who really are working how did they provide childcare printed good during this tough difficult time, we gone through 16 and 17 months is not easy but we can be a family owned business and we treat
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everybody for like family. so when you offer support and childcare. guest: will be offered is really flexible scheduling and full range of benefits including the ability to pick your own schedule and you have an app that you can train with people and get it right. it will be noticed when we restart the 550,000 people, 37000 people said they might be interested there hope is that is not coming to us to work, that they can say a six pack at the grocery store and pop it in the microwave made us through the drive-through so all potential customers are you. david: what are the results pretty are you back to where you work before the pandemic or is that going too far. guest: i don't know if any of us worked back to where we were before the pandemic that when they can share is that were making great progress in the month of june it our hires jumped up 4 percent versus a two month priors silverstein people come back to the castle and were opening up too late night hours again. morning noon and night, we have
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you covered. david: how much of the comeback has to do with the ending of unemployment benefits from one of the 25 states. guest: it's hard to qualify we think everything kind of works in conjunction with one another so that's a fact we take and other factors more folks this summer are able to have more childcare options and the other thing that we see happening is as rates continue to pray smart people feel cargo coming back to the workforce. david: the great white castle, jimmy great to see you and thank you predict best of luck to you predict. david: new york governor andrew cuomo claiming that he told the truth about covid-19 from day one and those are his claims and we have the facts after this.
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cohave been prevented, it was a mistake by government bureaucrats. that's why your loafed one die, how cruel. david: new york governor andrew cuomo now taking kind of a victory lap after the doj announced the probe into new york nursing home covid orders has been dropped. "new york post" columnist karol markowicz joining us now. i told you the truth from day one is what he said. i want put up a "wall street journal" headline from march of this year. cuomo advisors altered report on covid-19 nursing home deaths. which do you believe, that "wall street journal" headline or what you just heard from the governor? >> cuomo's aide apologized to new york democrats saying that they fudged the numbers on nursing home deaths and they're sorry that they put those politicians in such a tough place.
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they did not apologize to families. they did not apologize toe new yorkers. they only apologized to members of their own party for lying. we all know cuomo lied. it is not in question. his own aide apologized for lying and covered up the numbers. for every story that comes out about florida having suspicious numbers, including pushed again by cuomo's own aide, new york is actually the one who has numbers that don't match the cdc statistics. we have a really obvious story here. cuomo lied again and again and he is getting away with it. david: he is getting away with it. so far, that impeachment move seemed to go nowhere. how is he getting away with it? you put out a cover. "new york post" covers have a lot of influence in new york or used to when people still read newspapers. liar is the cover of "the new york post." is that, having any influence in what happens to him in albany?
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>> i'm not sure. the one thing, it is very few media outlets that are really holding him to account. it has been a long time that the media has covered for him. again and again. i think cnn is one of the worst at this because his brother works there, because so obviously running into interference for the governor. it's a real problem that the media is not interested in getting to the bottom of the cuomo story story. only a few media outlets leading the way on that. it really should be everyone but obviously that, they don't challenge people on their own team so, i don't know. i think he does get reelected because the coverage has been so muted and it really does make a difference how people see the scandals. david: you say scandals, plural. it is not just for the nursing homes. that is the worst. the inappropriate behavior with women. >> right.
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david: using his staff for his multimillion-dollar book deal, it is supposed to be illegal but you think the guy could win another term? >> getting his brother and other friends and family covid tests during the -- david: forget about that. >> there are so many easy to forget. he has been a carnival of corruption this entire time. the fact he was seen at some covid hero when the new york has highest death rate in the country. that is the way the coverage went. if he had been a republican it would be a completely different story. david: and his policies that he was complicit with, the new bail law that lets violent criminals out and you see the recidivist criminals again and again on the street causing mayhem, crime and violence because there is just this turnstile justice. now is there any chance that a new american turn this around the way giuliani did in the 90s? >> it is at cuomo's feet the
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fact we have this turnstile in prisons yet i don't see that much blame being placed on him for it. it was absolutely cuomo's fault that schools didn't open. he is the governor. he could have put the schools open. he deferred to local districts so he wouldn't be blamed for anything. the crime is out of control. i would like a new mayor to do something about it although it is hard to override the governor's bad ideas to do something about it. david: a good mayor could two good if the mayor has a strong background. broken windows, we talked about it before. we saw another example. a criminal accused terribly beating his victim. there he is hopping the turnstiles and letting a buddy in for free. that is the whole idea about broken windows. if you stop the small crimes, you will stop a lot of big crimes. right after he jumped turnstiles, he apparently went
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out beat this guy close to death. >> i don't understand how we decided something that works is bad now. we see that kind of thing happen in a lot of places in america right now. but we absolutely should be bringing back the broken windows ideas and policing according to it. because it works. it absolutely works. somebody who commits a small crime goes on to commit bigger crimes. that is the way it has been the whole time. if you want to take back new york you have to get serious. david: we have only 20 seconds literally. new mask mandate, not a mandate but advisory from the cdc, your thoughts? >> it discourages people from getting vaccinated if you have no difference between unvaccinated and vaccinated. it is ridiculous. it is absolutely ridiculous for kids that should have never been masked at all. david: karol markowicz, always a pleasure. good to see you. quick market check. tech stocks sinking ahead of earnings. nasdaq on pace for worst trading
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day since may 12th to be exact. more "cavuto: coast to coast" is next. ♪ i'm so glad you're ok, sgt. houston. this is sam with usaa. do you see the tow truck? yes, thank you, that was fast. sgt. houston never expected this to happen. or that her grandpa's dog tags would be left behind. but that one call got her a tow and rental... ...paid her claim... ...and we even pulled a few strings. making it easy to make things right: that's what we're made for. usaa. what you're made of, we're made for. get a quote today. usaa. what you're made of, we're made for. we did it again. verizon has been named america's most reliable network by rootmetrics. and our customers rated us #1 for network quality in america according to j.d. power. number one in reliability, 16 times in a row. most awarded for network quality, 27 times in a row. proving once again that nobody builds networks like verizon.
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david: a group of 500 bars in san francisco will require customers to show proof of vaccination or negative covid-19 test to enter. the san francisco bar owner alliance saying the new rules
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would go into effect thursday. the requirement is not legally binding but the city's mayor is in support. covid cases continue to rise. all three major averages on track to snap a five-day winning streak as tech and industrial stocks are weighing on the dow. microsoft, sales force, boeing alone to blame for half of the dow's losses today. we need a cp effect. charles payne, it is up to you, my friend. charles: [laughter] tall order. herculean but i'm up for the challenge, david. david: good. charles: good afternoon, i'm charles payne. this is "making money." breaking right now we're seeing one of the greatest earnings seasons in history. food enough to crush earnings estimates, expand profit margins and offer stronger guidance. what will it take for the rally to truly live up to the legendary status? my experts and i got you covered.


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