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tv   Cavuto Coast to Coast  FOX Business  August 4, 2021 12:00pm-2:00pm EDT

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>> i know the academy is there. stuart: todd, great to have you there. market check. dow down nearly 289 points. please show me robinhood. that really is the stock of the day. it was halted a couple times earlier for volatility. it is behaving like a meme stock. it is up 32%. 62 bucks a share. it has doubled in a couple days. it's a meme stock in my opinion. neil, it is yours. take it, sir. neil: thank you very much, stuart. we're following all the meme stocks, you're right i think robinhood would have to be in that category right now but most of the selling going on the street right now seems to be focused well, virtually all the dow stocks. we have you covered with hillary vaughn covering treasury secretary janet yellen. she is sort of pushing for the biden economic agenda passed. if we don't we could risk our preeminent status as a world power. edward lawrence on the administration plan to push back
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evictions of renters might be past their prime. might be past being able to afford where they live. jonathan serrie new reads of on possible fda approval for one vital vaccine. hillary vaughn on capitol hill with the latest on the biden-harris economic agenda and how it might mix with our global push to be the global leader. hillary. reporter: hey, neil, we are seeing the ripple effect of the biden-harris economic agenda that treasury secretary janet yellen was touting moments ago in atlanta, georgia. seeing that u.s. private sector employment fell way short of expectations. adp national employment report found out right sectors jobs increased 330,000 in july. that was half of what economists expected. gains in the service industry, overwhelmingly leisure and hospitality with 139,000 new jobs and the industry lagging
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way behind the goods-producing sector seeing a major slow down in growth with only 12,000 new jobs compared to more than 70,000 in the month before. the labor shortage and supply chain problems has caused prices to spike for consumers and treasury secretary janet yellen saying today she thinks that is temporary but says that the delta variant in covid is the first and foremost challenge. she said this about supply and demand. quote, mismatches between supply and demand have led price increases yet the data indicates these mismatches will resolve in time as more businesses are able to keep up with demand. yellen was advocating for a lot of big spending on things like child care. she made the case saying this, there is a good faith discussion how much spending is too much. if we're going to make the investments now is fiscally the most strategic time to make them. the cost of federal debt payments is expected to remain
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below historical levels through the coming decade. my largest concern is not what are the risks if we make these big invests. it is what is the cost if we don't. yellen said one of those costs could be the u.s. losing its standing as the preeminent economic power that it is today. she says that they need to make these big invests today to keep america in the top economic standing it is. she also said that a lot of people like to split business and labor versus big spending. she said it is time for those, those clashes to stop and essentially get on the same side and get behind this big government spending on a lot of new big government programs. neil. neil: what is weird about that one, hillary, we've been the preeminent economic power without all the spending. you begin to wonder, will more spending imitate europe does be the elixir over europe? you got to wonder.
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thank you very much for that. hillary vaughn following those developments, before i go to my buddy edward lawrence, i want to pass along with news from the world health organization, calling on a halt through covid-19 booster shots through september. they want to make sure it doesn't risk a shortfall in vaccine supplies, particularly those we are shipping abroad or plan to developing countries, poor countries and the like. now to edward lawrence on all that. he also following what the cdc is doing to limit evictions, push them back, in light of these spikes in cases that we've been seeing in our country, some of these other developments. edward, is at the white house. hey, edward. reporter: the cdc issued a new temporary ban that will extend through october 3rd. this only affects areas with substantial or high rates of infection which is most of the country. now republicans are balking at this move. because the cdc has already been shot down by the supreme court saying that the agency overstepped its authority with
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the original ban extension. senator john kennedy says it does not want anyone to lose their homes but the economy is recovering. >> time to rejoin our lives and we can't give free rent to everybody. if you want free rent there is nothing free. everything free somebody had to work for. reporter: now progressives in the party putting more pressure on the white house. just two days ago the press secretary here saying the cdc could not find legal authority to the ban and shifted responsibility to local government. now an about-face in wake of pressure from lawmakers like representative cori bush with a vigil on the steps of the capitol. the president acknowledged that the ban might not hold up now. it sets up a showdown with the supreme court. >> the bulk of the constitutional scholarship says that it is not likely to pass constitutional muster, number
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one. but there are several key scholars who think that it may and it is worth the effort. reporter: worth the effort because the white house believing that by the time the courts get around to hearing the case we'll be well into the fall and it could be weeks, if a lawsuit was filed today. so the ex-extra unemployment benefits in the fall have fallen away, people more likely to possibly go back to work since they're not being paid to stay home. therefore they could then pay rent. back to you, neil. neil: got it, edward lawrence at white house. in the meantime you've been hearing part of skittishness of some to get vaccinated to get vaccinated because the vaccines out there are emergency approval. good many americans, half of all americans plus have gotten the vaccines but the fact of the matter is the fda has yet to write off on any one of them. growing talk such approval could be coming for pfizer's vaccine soon as next month.
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jonathan serrie with the fast-moving developments out of atlanta. hi, jonathan. reporter: the fda is hope towing give full approval of pfizer's vaccine early next month according to "the new york times" who cites sources familiar with the effort. a fda spokesperson would not confirm a timeline but told fox news that agency is asquare approval made give additional confidences in covid-19 vaccines and more people would get them. the fda has a all hands on deck approach. for now the vaccine is administered under a emergency use authorization. >> the fda having to go through their independent process of dotting all the is, and crossing all the ts but this is a very, very effective and very safe vaccine. reporter: new york city is phasing in requirements for people to show proof of vaccination before entering restaurant dining rooms and other indoor venues.
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other local governments may follow suit the white house has no plans for a uniform national requirement. >> we are not issuing federal passports, vaccine passports from the federal government but we do mow that private sector entities and other localities will make their own decisions. reporter: neil, you mentioned that breaking news out of the world health organization. this recommendation comes as the u.s. and other wealthy nations are considering whether to provide a third dose of vaccine to protect people against the delta variant. the w.h.o. had a goal of having at least 10% of the world population in every country vaccinated by the end of september. they are far short of that goal right now. so the w.h.o. today calling on wealthy nations to hold off on vaccine boosters so they can presumably provide more shots to poor countries.
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neil, back to you. neil: i am curious, jonathan, about the fda move. are they confident or those in power tell you they're confident that a fda nod of approval let's say for the pfizer vaccine will be enough to get a number of unvaccinated americans vaccinated? is it a serious number? talking millions potentially or is, could it be much ado about nothing? >> that's the hope. just anecdotally some of the people i have spoken with, some of my friends who are skeptical about the vaccine, they say that it hasn't gotten full approval yet. that the emergency use authorization even though all of the medical experts, all of the federal health i believe ifs and most public health experts say they have confidence in this vaccine being both safe and effective, there are some people that are holding out for that full approval because at least psychologically it will give them the confidence to get it. there are a lot of people who are still concerned, is this
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vaccine safe? even though it is just a matter of what you call it something about that emergency use approval, emergency, has this psychological impact that full approval builds more confidence, neil. neil: all right. we'll have to see numbers, what happens if indeed that happens. jonathan great reporting as always. i want to get read on all of this wall street watchers shana sissell. we have mark hamrick with us. you heard what jonathan reported, we could be close to fda approval, pfizer vaccine next month. i wonder how much that moves the needle. shana, obviously markets are on tenterhooks waiting to see more vaccinated, rehunkerring down after opening up is limited and something like that would foster that. what do you think? >> i do think that there is a percentage of those who have not
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been vaccinated that are simply waiting for full fda approval of the vaccine but also i think there was a lot of folks that were hesitant to get vaccinated that have now been sort of driven to do so because of the rise of the delta variant. i think many just thought it would work itself out if majority of people are vaccinated. i think it's a combination of both things but i don't think there is a huge amount of people that are saying, they don't want to get vaccinated because it is only emergency use. i do think there is a small percentage. i don't know if it moves the needle though. neil: if we get into the millions on that, but, mark, it is an open question, right. a lot of people are concerned about the spikes in cases not nearly as severe as the last time we had spikes in cases. hospitalizations are up not nothing like the conditional of those hospitalized at the height of all this. so i get that. i wonder anything that gets more vaccinated i would assume calm fears of a spread of this delta
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variant. what are your thoughts on that? >> yeah, neil. i would be surprised if so many americans who haven't been vaccinated are placing their full faith in the food and drug administration because we know that there is a problem with disinformation, misinformation out there but heavens yes, if we get more people vaccinated, not only in the united states but as the w.h.o. is pointing out, we need to get people around the world vaccinated because we live in a globalized economy and essentially one big petri dish when it comes to spreading these viruses around but, you know, i think we need to get through this delta variant surge and hope that we'll get to a better place this fall when obviously some people are going to get booster as well. neil: you know, it will make a big difference too, how many ultimately go back to work, in person or otherwise. jamie dimon was talking to our maria bartiromo earlier, shana,
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and brought up the idea of working from home and being in the office. it is very clear where he is coming from. i want you to react to this, jamie dimon. >> every day for the last year 100 million have gone to work. 40 million were working at home. the 100 million going to work are police, firemen, sanitation, military, doctors, nurses, manufacturing, farmers. there is 90% of farming community in north dakota. our bank branches, cvs, walgreen, walmart, people are be obsessed with people not going to work. they are not doing exactly what they want. it has to work for us, not just the clients but the employees. neil: what did you think of that shana? >> i don't think he is wrong but i do think that the flexibility of work is going to be the main focus. i think there is definitely going to be a push to have employees come back to the office if for nothing else than the team building, team exercises that can't be done
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effectively through zoom or name your webx or teams but i also think there is a good amount of the population that wants to go back, if not every day but at least a up do of days a week because their zoom fatigue is a thing. people are kind of over it. whether it would be going into the office or just in-person activities, conferences, are seeing record numbers of attendees and record numbers of registrations because people want to get back to social interaction. i just think that people also like the flexibility of being able to work from home from time to time. in the past there was a real stigma associated with that. i think that stigma is gone now. neil: i'm wondering too, limited for time here, mark, but jamie dimon, i think who can ride to work in a limousine is very, very different talking about workers who have to risk high crime and all these other things associated with being in the office in person under the assumption or at least the the
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sense he thinks they're sloughing off. i don't know how well that will be received? >> i would say that is pretty much old school culture at this point. it is consistent i don't want to say about jpmorgan chase but just wall street in general, but the reality is a third of the population can't work from home because of the nature of their jobs a third of the workforce. then everybody else will have some expectation they work from home at least some of the time. we're seeing that obviously right now. that is not going to go away. we can't turn the clock back on that. there are expectations on the part of current employees as well as perspective workers, managers who know for a big part of the population this work-life balance thing got the proverbial shot in the arm from the pandemic, one of the unintended consequences. neil: very well-put. we're talking about new york, talking about new york's governor andrew cuomo with a
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clarion call for him to go built not just among republicans but overwhelmingly among democrats. he says he is not going anywhere. >> if indeed there are not hundreds if not thousands of photos me using the exact same gesture. i do it with everyone, black and white, young and old. straight and lgbtq. howerful people. ♪ ♪ can't take it back once it's been set in motion. ♪ ♪ ♪ power can't be tempered,
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going criminal investigations against governor andrew cuomo. this is a pretty big development. some of that evidence inside of the ag's 165-page report includes this selfie taken by unnamed executive assistant with the governor in the executive mansion. the assistant said governor cuomo asked for the photo, was groping her seconds after it was taken. months later he put his hands under her blouse. unwanted touching from a 30-year-old state trooper who cuomo allegedly asked to personally be on his private security detail. >> in an elevator while standing behind the trooper he ran his finger from her neck down her spine and said, hey, you. another time she was standing holding the door open for the governor. as he passed, he took his open hand and ran it across her stomach from her belly button to the hip where she keeps her gun. reporter: the governor denied
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all of the allegations in a prerecorded video that included this bizarre montage of photos of cuomo kissing people and politicians. he says everyday actions are being weaponnized against him. charlotte benefit said he made inappropriate sexual remarks to her and needs to resign immediately. >> i don't believe him. i don't want a apology. it is not necessary. it is fake. his propaganda video was uncomfortable, inappropriate and down right weird and unnecessary. reporter: 74% of all new york state lawmakers, mostly democrats are calling on governor cuomo to resign or be impeached. the judiciary committee which is conducting an ongoing investigation. they are meeting on monday. we'll see if they act on it immediately or if it is drawn out further. neil? neil: bryan, do we know whether the governor has spoken to the president, certainly since the president said he should resign?
quote
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>> no, we don't. yesterday, i believe he said he had not spoken to him. there is no indication the conversation happened yet. he is losing more and more support. the neighboring governors of four states, all democrats released a joint statement against him. on top of all of that, all the unions who supported his campaign, especially this year as well, fund-raising for a fourth term are also backing out one by one. neil? neil: bryan llenas, thank you my friend. go to todd kaminsky, new york state senate democrat, former federal prosecutor. senator, good to have you. i appreciate it. >> thank you. neil: you have spoken out against the governor, said he should resign. doesn't look at this time, sir, that he will. do you think that impeachment is an option? are there the numbers there to pursue it? >> absolutely. it's, it seems like it is headed
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that way and headed that way swiftly. i would urge the assembly to move expeditiously as possible. the speaker said yesterday after an emergency meeting with his members, his conference lost confidence in the governor. certainly looks like it is headed that way. i want to remind folks, unlike washington, in new york, when the governor is impeached he is automatically removed from power until the end of the trial. it begs the question whether the governor would want to you know, stick around to be the non-governor while fighting this trial? but it certainly seems headed this way. i was in an accounting office, my dad is a cpa in a purple area on long island. i happened to be in his office when the ag did her report yesterday, there were regular folks, accountants, clear call staff there, their jaws dropped. people were willing to give him benefit of the doubt yesterday by the end of that damning
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report certainly weren't at end of it and somebody will move fast because of that. neil: what did you see of his reaction, his speech, incorporating all images of him and other politicians kissing and hugging others as in this case a touchy-feely guy? >> i don't think people are buying it. i'm a former federal prosecutor. we're trained to look at patterns. this was not a one-off picture. this was 11 victims corroborated by witnesses text messages. allegations of the trooper i absolutely believe i think are nauseating and way beyond the pale. you would bring someone on to your staff especially to help protect you, then end up groping and harassing that person, even while that person is holding a weapon, really shows the governor lost all touch with reality. clearly thought he was above the law. i think paints just a damning picture no photo montage will get him out of. neil: did you, senator, or any of your colleagues have any idea
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before these accusations spelled out in the attorney general's report that this kind of thing happened with him? that there were incidents? there were reports of whisperings, behavior that seemed at least inappropriate but to this degree? did you ever hear anything? >> i called on, when the victims had first bravely come out i asked the governor to step aside while this investigation was taking place. we all waited for the day. even governor said wait for the facts to come out. that day was yesterday. whether we knew it or not the portrait painted by evidence yesterday, which by the way was very well-done. the attorney general's team was professional and thorough. i know good work when i see it. this was unmistakable. the attorney general wasn't coming with anything that couldn't be backed up and supported and really impossible for the governor to try to convince people that there are 11 people, all with some conspiracy against him who
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happened text messages years ago in case this moment had come. -- closing argument, i would say that is not to be believed. whatever photo montage you want to do, whatever defense you want to do will not fly with the people of new york. they have seen it. they want the governor to do what is best for the state and resign f he won't do that, the assembly to move. neil: do you think a month from now he will be serving as governor of new york? >> i don't know what the timeframe is. i don't control the assembly calendar, how fast they move. i have tell you this, they should move right away. they don't need anything else. just taking the attorney general's report, putting it into evidence, this is what we got, should be enough to move members. i heard as assembly member, couple weeks to get the impeachment moving. i don't know literally meant two weeks, used as phrase couple, it should move really fast. once impeachment happens the governor is temporarily removed while the trial takes place. if there is a trial, the
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senators i work with we'll be ready to listen to it. it would be a gut-wrenching experience for the have, timms and would put the state through a lot. i don't think it should come to this. neil: senator todd kaminsky, thanks for explaining the process. i didn't know the governor would have to step down through the process so that was increasing through me. keep us posted. thank you for joining us. at the corner of wall and broad we have the dow down 300 points. a lot of crip tee dish cryptocurrencies announcement of a crackdown on bitcoin. our charlie gasparino why so far cryptocurrency investors are kind of challenging him on that after this. ♪. usaa is made for the safe pilots.
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♪. >> investor protection and frankly at this time it is more like the wild west than some sort of protection against fraud and manipulation in the space. neil: all right, now we know. it is now out in the open. for months our charlie gasparino has been reporting as the new sec chair and his views on cryptocurrencies, bitcoin in particular. he revealed to all the world he is not a fan. there is a lot of abuse going on. wants to rein it in. wants congress to give him powers to control things a little bit more. charlie gasparino with us now on all of this. charlie, a lot of cryptocurrencies were getting hit yesterday on this news even though you've been telegraphing it for quite some time. they seem to be rebounding today. do they think he will succeed or they doubt he will? what do you think? >> they have lawyers. people talk to security lawyers
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all the time and they know this, the sec powers on cryptocurrency is, as of now, it could change, courts could rule, congress could come up with a law it is very limited. it is unclear whether bitcoin or other crypto currencies are known as securities, under the 33 act that created the securities & exchange commission and set the foundations for you know, laws on wall street. they didn't foresee cryptocurrency as a stock or something like that as a security. so this is, this is a gray area and from what i understand, my sources who deal with the sec a lot, there is a debate inside the sec how far out they can go cracking down on this stuff because the courts have yet to rule why, if a digital coin is a security. now there is a case that is out there. jay clayton, former sec chair brought a case against a company
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called ripple claiming it sold unregistered digital currencies which are akin to a security. that's before the courts right now. we don't know what the courts are saying on that and if they're going to say it, they're going to rule in a way that is sort of indicative of precedent in this area. so gary gensler has some issues. i understand why he is going to congress. i mean he is going to congress because i think they, because there is a debate inside whether under the 33 act, applicable security laws he has the powers to do this big crackdown that he wants to do but you know, you think, you think congress is going to be able to get this thing through, give him extra powers, if the republicans win the house, game over, i don't think they will give him anything next year. if they win the senate and house it is really game over. he has an uphill battle. i think that is why the cryptocurrencies are rising
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today. there is whole other level about cryptocurrencies. it is more than just enforcement, whether these things have any value to them. so that is a whole other debate, whether these are legitimate investments and we can debate that all day today. neil: right. >> regulation is coming but it is not going to be the sweeping hand that gary gensler wants i'm afraid under current laws. back to you, neil. neil: maybe that is what the investors are pouncing on. charlie great reporting as always. want to go to grady trimble in aurora, illinois. looking at the problems in gm, posted a report that disappointed expectations even though its guidance was a little bit more favorable by i guess the issue, grady is the chip shortage that will bedevil the company and supply for a while, right? reporter: it is still hitting general motors, neil, hitting all of the automakers, really those earnings estimates. a miss of about 26 cents per
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share for general motors. you mentioned they did raise full-year guidance between 11 1/2 billion and 13 billion. that was lower than some analysts expected so shares are falling today. they are also suspending production because of the chip shortage at three pickup plants for a week starting on monday and i mentioned that is hitting all of the automakers and all of the dealers. we're at a jeep chrysler dealership in north aurora. because of that used car sales are through the roof. cory spooner is general manager of used car sales. there is not an inventory of new cars. >> i never seen the market more crazy. that has brought the prices up on used cars. reporter: use cars up 33%. that accounts for $7500 on a used car purchase. you have people buying cars, used cars for more than they would have cost new. >> some are would have priced higher than originally cost go
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to begin with. reporter: neil, another surprise, the popularity of minivans, going 8% above sticker price, at least in the month of june according to cox automotive. a lot of interesting trends going on in the ate motive industry. neil: grady, thanks for that update. we'll see where it goes. my next guest wants to do something about the chip shortage wants do something producing production here. congressman, great to have you. update me on the emergency funding to help domestic chip manufacturers. >> yeah, it's a big issue right here home. one of the truck plants the reporter referred to is in my hometown of flint, michigan, not very far from where i am right now. what we're looking to do is provide incentives to reshore chip manufacturing so we're not
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so dependent on global supply chains that are not stable and that is essentially what happened here. during the pandemic there was a reduction in demand, temporary reduction in demand for vehicles but an increase in demand for consumer electronics. chip producers shifted production to the more complicated chips that serve consumer electronics. now we're seeing the impact of that. if we had domestic supply chains that were more predictable, that were really more invested in the american economy, we feel like we might not be in this position that we're in right now. so our legislation would invest two billion dollars to incentivise private industry to reshore chip production we have access to the essential supply chain and don't see empty dealership lots but lots as the manufacturers, all but finished except for a little tiny piece of electronic material. that is holding those vehicles
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from the marketplace. neil: the issue is, you know, if you got the two billion, really depends on some bipartisan support i would imagine, how quickly could that chip production be up and running? >> well, that is a problem, neil. it won't be automatic and it won't be fast but we know one thing for sure, if we don't start now we're going to be kicking ourselves in the future for not having addressed this. i think what the, what the investment would do though would signal to the marketplace that you will have a partner. that we're going to stand with you. that may move the private sector to shift production to the so-called legacy chips so important. on the issue of bipartisanship we definitely have bipartisan support for this effort. it is one of those things that seems to unite the michigan delegation especially but also others in ohio that we've been working
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working with. when it comes to our own interests, our backs against the wall, thankfully we're still able to act in a bipartisan fashion. neil: we'll watch closely. dan kill de, good to see you again. chief deputy whip of the house democratic caucus. big news in new york city, broadway play, the first one, new broadway play since the hitting of the pandemic, it is called "passover." but you hand over proof that you've been vaccinated if you want to be in that theater after this. ♪.
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♪. neil: broadway is back but if you want to see the new show, passover, you better hand over
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proof you've been vaccinated or they will not let you in. lied yaw lydia hu is on broadway. reporter: not just the vaccination mandate but patrons have to wear masks in the august theater when the show opens. first time broadway opened in 17 months. this theater making requirements applies to all 1 theaters across the city. broadway league says typical production needs to sell 75% of their tickets. a sustained lower attendance over tha a production. this year there is the added pressure of the the cost of reopening with these restriction, the cost of reopening alone is one to $4 million per production. the broadway league says those costs are in addition to the new
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mandates of mask wearing and vaccination mandates. listen to this. >> it will add to the cost and they will be borne by the shows themselves and by the theater owners, depending on your position, but again, we have been unified from day one to be safe and secure. we're not in a position as an industry to open and close, open and close because it costs so much money to reopen. reporter: neil and, neil, that is largely why broadway has been really closed for 17 months. the only other production to have opened so far is bruce spring performance on broadway. they require vaccinations but not mask wearing. i checked based upon online sales the show sold 75%, possibly more of their ticket sales. we'll see whether or not that can be sustained in the weeks and months to come particularly
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as the city is imposing additional requirements on various establishments including restaurants starting on august 15th. mayor de blasio made that announcement yesterday that restaurants have to require vaccinations of their diners. so that means now in the coming weeks in order to eat out and go to a show it will be largely reserved for those who are vaccinated. neil. neil: got it. thank you, lydia following all of that on broadway here. by the way if you've been flying around the country you know what it is like to get trapped in a large crowd not going anywhere. big delays, weather-related, personnel not showing up. spirit airlines scrubbing half of the wednesday flights. says the cancellations will drop in the days to come. didn't offer anything more specific after this. ♪.
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650,000. instead turned out to be more like 330,000. could a lot be tied to spikes in cases we've seen of the virus? giving trepidation to some looking for work and those hiring workers. let's get the read from art laffer, formerea ecomi,st oror t, w t o de d d of givt ppl cce cndtmo takak coreon oeeae tkearketske a d ufd fsui bing,hod w aryt? well youhod worryryut it the ow i i job iobobss nrlyrl ou to toatchsacacp where e ondre l lei n n tnk t the las calcu cla i i i did if wer back onnhen tndnd ef e covid-1ididit we w uldd nee neeon jobsoset p totohere w w were.e. we. we. ats ale dead dght loss in the economy. every month it comes out with lower number than expected or a bad number, makes it more
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further away we are from the goals to come back. you know, when you look at the policies of this administration to give money to people not for working but to give money to people for not working, obviously those funds come from people who do work. that is a huge disincentive for people to go back to work. it's a huge hindrance for the economy to continue growing. remember, not just demand that matters. you have to also have supply. gross domestic product is in fact a supply measure. if you restrict those supplies you're just never going to grow. i'm terribly concerned about the long-run growth of this country. neil: janet yellen, i'm sure you're not surprised art, she is not. she doubled down on the administration's planned spending, if we want to be a preeminent power and keep up the growth of gdp we've been seeing in excess of first two quarters of this year we need to keep following that agenda. what do you make of that? >> i don't think that is true. i think what causes gdp growth
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is private spending, private production, private growth and output in employment. it is not really government focused. i think the economy really needs to catch back up on the private sector. i think government spending as she is talking about will only hurt the economy. it won't help the economy. if you remember the last president we had who had a lot of stimulus from george w. bush first, then from obama himself, they had this huge stimulus packages. every year they forecasted growth at 5 1/2% or 5% or whatever. every year it came down to between two and 3% for eight years, one of the most sluggish recoveries ever because i believe of the stimulus spending. i mean that's a real bummer for the economy. these resources come from workers. they're given to people who don't work. you're just not getting people back in the labor force. they're not coming back. you will not get the production. neil: it looks like we will get a core infrastructure deal though. i say looks, because that could change. but the core, roughly one trillion dollars half that,
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reappropriated funds, covid relief around much more. what do you think of that? >> if you're going to have government spending, the infrastructure spending, the real infrastructure spending is by far the best stuff you can do. i'm relatively neutral on it right now because we have so much government spending even infrastructure spending as good as that may be relative to the other stuff is still huge burden on the overall system and the debt load of future generations honestly but if that were to make it through, if we got 3 1/2 trillion on tom of that, it would wash all the benefits away, everything away and would lead to a very sluggish long-term growth path that never catches up where we used to be. neil: all right. still early on in that back and forth in washington debate. art, great seeing you again. we're getting more details on the infrastructure package. they're finally spelling out some. numbers in all about it after this.
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neil: all right, it's happening again, concerns about the virus and the spikes, well they're going viral right now weighing on economically-sensitive issues that dominate the dow jones industrial average, never mind the fact that most companies that have reported within that average and elsewhere are handl ing beating expectations when they sort of telegraph that there are problems, they are
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concerned about delays and reopenings and all of the rest. it just sort of compounds on it so our susan li has been sort of looking at all of these new guidelines and spikes and the restrictions that give maybe some buyers pause i guess? reporter: yeah, and also economic indicators this morning , a big miss when it comes to the private payrolls and the adp report and that indicates that there's more weakness in the economy, with a delta variant spread, so you have adp coming in at 330,000 in the month of july that's half the amount expected. that's the lowest level of hiring that we've seen since february, and the adp says it's a bottleneck in hiring holding back the labor market so that means there aren't enough workers to fill the jobs, meantime as you mentioned at cvs and walgreens masks are back, all staff have to wear them regardless of their vaccination status and walgreens now requiring workers to be fully vaccinated by the end of september or you have to do some regular testing. cvs helped administer around
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17 million vaccinations in-store s so far, walgreens says they have jabbed over 29 million people and cvs making news by raising minimum wage to $15 an hour next july. over at target they are paying 100% of college tuition and textbooks in order to attract the workers. it's a new education program over at target and this will cover the cost of associate and undergraduate degrees at 40 institutions including cornell, not bad, arizona, denver and morehouse college 100% of tuition being covered for programs like computer science, i.t. and business management and you get up to $5,200 for a graduate degree up to $10,000 formatter's not bad, i say, especially with the spiraling cost in education. meantime we have staffing shortages partly being blamed, neil, for more cancellations at spirit airlines 60% of scheduled flights have been canceled for a third straight day, also throw in some operational issues like i.t. problems and severe storms and oregon, idaho, nevada
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and the southwest, tornado warnings in the great plains i could go on but that's why spirit airlines canceled hundreds of flights over the past three days. american airlines also canceling and delaying hundreds of flights on sunday and monday and it's just tough right now to be a traveler. neil: yeah, to put it mildly. susan thank you very very much. and meanwhile, susan touched on this as well. you do need proof that you have been vaccinated if you want to go into any facility certainly in new york, and other counties around the country, some states looking to implement such policy , but sure enough and this is human nature, right? if you haven't been vaccinated, there are fake vaccination id's that could do the trick but you better be careful, because they know what they look like, let's get the latest from new york city, with more on this. reporter: hey, neil. yeah, you know, apparently all you need to do is fill out a form, pay with cryptocurrency, and before you know it, you can have a fake covid vaccination
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card in your hand for as little as $100, and sometimes even a matter of hours. we found there's this whole dark web marketplace right now for fake covid vaccination cards that's driven by the demand from people who are still hesitant to get vaccinated, in chicago, for example, the fbi reportedly investigating a big fake vaccine card scheme there and in new york, police arrested a 21- year-old cvs employee for fraud when they found him with a stack of dozens of vaccine cards in his car, he was reportedly selling them to students, so they could go back-to-school. some new yorkers are wondering if this new requirement to show proof of vaccination here in the city to get into restaurants and gyms and venues they are wondering how this is going to be enforced if it's so easy to get a fake card. we spoke with security experts at checkpoint. the reason they say it's so easy to scam the system is because unlike some other countries,
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neil, our vaccination cards are so simple, they are printed on paper, they can easily be copied and as cities and states across the country launch their vaccine passport app where you can upload your vaccination card, these experts are really challenging these places to go a step further, and cross-check to ensure people are truly vaccinated. >> if the applications or the digital passports don't have that connectivity, creating a qr code of a paper card is actually very easy to duplicate or easy to actually just sort of evade the system. reporter: now, neil, here in new york state, the covid-19 passport does verify and cross check with state records but it doesn't work for someone who wasn't vaccinated in the state of new york so you've got all these tourists coming into new york city, you know, they are going to have to show their paper card and that leaves plenty of room to bring in those fake vaccination cards.
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neil? neil: thank you for that. well, the president of the united states says there is a way around getting arrested or possibly fined, or both, for having a fake vaccination card. why don't you just actually get vaccinated? the president. >> listen to the voices, the un vaccinated patients in the hospital. they're spending the most powerful message to their families and everyone around the world. powerful message to everybody, as they're lying in bed, many dying from covid-19, they are asking doc, can i get the vaccine? the doctor has to look them in the eye and say no, sorry, it's too late. neil: little scary but it did have the effect. dr. debbie joins us a physician from new york city republican advocate nominee. you know, doctor, you've said this before many many times that the concerns and risks around
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the virus or the vaccine for the virus just don't hold a candle to making sure you have the vaccine to stop the virus but many many refuse to do so. what do you tell them? >> so i talked to them about the risks and the benefits of the vaccine as we know it. i mean, you know, the virus itself can kill people, right? so the vaccine, i kind of separated out into short-term and long term. short-term, people do have some side effects, they can have some arm pain, they can have some fevers, just temporarily at least as far as we know. long term, we don't know the long term risks and benefits but we don't know the long term sort of risk of the virus either we're starting to see chest pain syndromes and seeing some neurological problems, psychiatric problems too, so there are a lot of uncertainties there, but in the end, people aren't dying generally from the
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vaccine. they're dying from the virus. the biggest barrier that i'm sey the fda's lack of approving, fully approving the vaccine and i wish that they would kind of speed that up, so i separate out the vaccine from the mismanagement that's going on, and, you know, in terms of that, i sort of wonder whose benefiting from this , because when they're not approving it, it seems like it's creating chaos everywhere for the un vaccinated, for the vaccinated, it's creating worse polarization, it's affecting our economy, there's a lack of predictability for businesses for tourism but in terms of benefit, i think that maybe the health companies are the ones that are benefiting , because what you see when you get fda approval is it's not a rubber stamp. it actually separates out the full risks and benefits in terms of the safety data that we have, so let's say for example, for kids, there are some concerns coming up, like inflammation around the heart. the small group that's having
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this , so it's small minority of patients but they are there, so sometimes you'll see additional warnings. we'll have more caution and monitor for these symptoms. doctors can talk to patients about these things so what happens when you have fda approval is two things. patients may say well i want to talk to the doctor about the risks and benefits and if there's an office visit then maybe health companies have to pay for those office visits, people don't necessarily get vaccinated in the subways and on the street corners, so i'm wondering if there's maybe something going on with lobbyists, et cetera, to kind of delay the approval. that's my speculation and i'm not saying that's actually the case, but that's one issue, and the second thing is if you have fda approval, then you actually are very much limited in terms of your advertising, so people talk about misinformation on the internet, misinformation in terms of social media, et cetera, but in terms of pharmaceutical advertising, there's very clear definitions in terms of false claims and
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misinformation, and with fda approval, these companies have to be very clear. so i think fda approval -- neil: do you think it would really make a difference, doctor , that in the end, i know many people for one reason or another have not gotten vaccinated and not a one has said the fda has yet to approve it. it's a variety of other reasons so when i hear, you know, cdc officials talk about potentially millions more who be incentivized to get their shots because the fda has put the stamp of approval on it, i don't know if that'll materialize. >> i don't think that the fda is saying okay we'll do it. i think that if the fda gives the guidelines, then people might talk to their doctors more and have a more extensive conversation, so i don't think, i think the people who are concerned have lost some trust in the cdc, the fda, and all these government agencies. neil: but 190 million of us have
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done so, and at least gotten one shot because of this. >> yeah. neil: now i just wonder because this is just more your personal read. if the fda says it's okay, with these warnings, with these guidelines, will it make million s more get the vaccine? if that's the push, i can imagine many people might be disappointed to see that a material difference in vaccination rates never happened >> well i think the people so at least talking to patients what i see is some of them do move, so initially, i think there were issues like they couldn't access the vaccine. then i think there were issues like physical issues, so some of them couldn't stand in advance in line, so the actual physical issues, transportation issues, digital issues like the digital divide, then i think it got to the point where the pandemic was getting better, so people felt like well, you know, now i don't really see the urgency of getting it so let me wait and see. then as trust eroded people were
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like well, i'm a little skeptical of all of this stuff. why incentives like i'm going to get free french fries, why is this being done in the subway, why can't i talk to the doctor, so a lot more skepticism came up and then i think there was a change in terms of the stats because initially, the stats were only presented in terms of adults, but now when we talk about millions, that's including children, so it makes it look like more people are un vaccinated but a lot of these people that are being grouped in are children, so we actually have if we look at 65 and older the highest risk group we actually have 90% of adults almost 90% that are vaccinated so it depends kind of which group you're looking at. we're actually doing better which is why in some parts of the country the pandemic looks better-controlled. i think we could do better if we had the fda approval. neil: all right, that could happen, again, with at least pfizer's vaccine as soon as next month, we'll watch it closely but doctor, thank you very much
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for that. speaking of vaccines and booster s and whether they're necessary you might have heard that the world health organization has already said cool it on this booster talk, so we have enough supply for everybody particularly poor and developing countries. the white house has responded that by saying it's essentially a false choice, that boosters are not a u.s. policy, but the u.s. would still have enough doses of the covid vaccine if needed. whether you were pushing for a booster shot this fall or not, so a little bit of a slap down there between the world health organization, and the president of the united states. we'll keep you posted on that. in the meantime we've got former u.s. attorney guy lewis here. i want to make sense of a couple of things. one, these new guidelines on pushing mask wearing, proof that you've been vaccinated. it's a legal tuesday ellyn a lot of the communities where it's being implemented, particularly in the new york metropolitan area. legally can a business force that issue?
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>> the general rule, neil, is yes. a business can require you to wear a mask, they can wire you to wear shoes and a shirt. no shirt, no shoes, no service, so yes the short answer to your question is they can require a mask. the real question though is can the government force the business to require you to wear a mask? that's the legal issue that i think is going to be tested. neil: well that's what's happening in new york city where mayor bill deblasio has strongly urged, it sounds like a tony soprano comment, strongly urges to do just that and they are free, i guess, not to listen to that guidance but many sort of seed to whatever the local officials are saying or the cdc is recommending, but some will fight it. those who do, what happens to
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them? >> well, i think the city is going to then fine them, or try to shut them down, if they're violating local ordinances and of course, you hit on the problem. florida is 100% different from new york, and other states, so it's just going to be, look, to use a legal phrase, it's going to be a mess! it's going to be sorted out in some way in the courthouse, and i don't think given the urgency of the problem, which the doctor and you just talked about, the courthouse is not where these issues should be resolved and should be settled. it should be, frankly, in congress, and from the white house. neil: you know, guy, while i have you too the cdc is also pushing back this eviction ban through early october. there are a lot of landlords and others who aren't too pleased with that, and other taxpayers who don't like footing the bill
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for someone who isn't paying there's. that could be a slippery legal slope. what do you think? >> exactly, and boy oh, boy, neil. this is a perfect example of why so many of us, at times, distrust the government. there's $45 billion that's been appropriated that's sort of just hanging out there, waiting to be used for both rent subsidies that's going to help the person who needs the rent and those people that you mention that rely on it. listen, i know people that, they're not fat cats. they own a property, or an apartment, and they rent it out, and their mom and pops who rely on the rent to pay their bills, and the governments telling them, so sorry. we're going to extend it. we're going to, you can't get rid of them, a non-payer and all the while, we'll try to get
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this money that's been out there, hanging out there for months and months. we're going to try to get it and the problem is ultimately and boy this is what makes me mad about government, is the supreme court said several months ago, that hey, congress has to extend this rent moratorium. can't throw people out, congress has to extend that and you saw the president yesterday. he didn't like it and you could basically tell from what he was saying, neil, that hey what i'm doing is basically unlawful, and that's not what we are. we're not a country of hey let's just get close. we're a country of laws, and i just didn't like that either yesterday. neil: yeah, and justice kavanaugh himself saying this was a congressional issue, it's not a supreme court issue, so we'll have to watch it closely. guy, thanks i think i understand everything you said, because you explained it simply and clearly as you always do. much appreciated.
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guy lewis the former u.s. attorney. you might notice the sell-off going on the corner of wall and broad down about 269 points well off roughly 330 point drop earlier on but still down a lot. that is not happening with robinhood though, it might have had a bumpy start debuting on monday, but it's all green ever since, including today. usaa is made for the safe pilots. like mac. who can come to a stop with barely a bobble. with usaa safepilot, when you drive safe... ...you can save up to 30% on your auto insurance. usaa. what you're made of, we're made for. get a quote today. ♪all by yourself.♪ you look a little lost. i can't find my hotel. oh.
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neil: today marks a one year anniversary of that explosion in a port near bay route that killed more than 200 people, ten s of thousands were left homeless, let's just say that this anniversary is not going without some disruptions itself. trey yingst now in bay root with the latest. reporter: neil good afternoon, right now security forces are working their way up the street outside of the parliament and they are clashing with demonstrators who started their day near the port where that explosion took place exactly one year ago today, but i want to show you the scene here, as they run at these security officers. this started out as a memorial for the victims of that explosion and it will turn into
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a demonstration against the lebanese parliament and all of the officials here. lebanese president, along with other ministers, promise answers , and basically, they have not gotten those answers and they are extremely upset about it. what started out as a memorial at the port for the 200 people who lost their lives in this explosion has turned into a massive demonstration here outside of the lebanese parliament. the protesters here are calling for the lebanese parliament and they continue to set fires outside of the main building in downtown beirut, as security forces are firing tear gas trying to push these protesters back and there is immense anger here about that explosion a year ago. officials have been avoiding
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responsibility, and they say they will stay in the streets until they get it. the explosion underscored a much larger problem in lebanon, neil, and that problem has to do with mismanagement and government corruption. you see it in the streets when you arrive in beirut. the street lights don't work. the traffic lights don't work. there is no electric it provided by the government and everyone is running on generators. you can see behind me there's just a few buildings that have windows with lights in them because there's no electricity in this city. there are hungry people and there is a sense here that all hope is lost. lebanon is considered a failed state. after three attempts, there's an attempt right now by a man that's a lebanese billionaire and he says he can fix this but the protesters in the streets today, they don't believe him.
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they say he's just another one of what they consider puppet. not only of the iran it regime, but here in lebanon that has brought many of the people behind me back from prosperity from a future that has any sort of outlook and economic, the lebanese parents have 90% making savings disappear overnight and the people behind me making them feel as if they have nothing to lose, neil. neil: trey yingst, thank you very much. be safe, you're in the middle of all of that a year since this horrific disaster, things still disastrous. stay with us.
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as i observe investors balance risk and reward, i see one element securing portfolios, time after time. gold. your strategic advantage. neil: all right, take a look at robinhood right now might have had a bumpy start on monday but it's nothing but the wind at its back ever since climbing again today. a lot of people say it's behav
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ing just like the meme stocks that it really touts on its popular site, stephen guilfoyle, we've got the fifth third bank chief investment strategist. sarg to you first what do you make of the whole robinhood thing, what's going on? >> i mean, i like to call it a short squeeze but you know nobody short the stock yet because you can't be for the first 30 days after an ipo, so i think it's basically the meme crowd. they got behind this but there's no one to squeeze, so if i could short the stock right now, i be short the stock right now. neil: so how do you play it, jeff. a lot of people said this is an example of market froth but you could have said that about the run-up in technology stocks, you could have said that i'm not conflating them but that this is what happens in a bull market. what do you say? >> this is what happens in a bull market and it's still a bull market, so i think the takeaway from here is nothing specific to robinhood, but rather a broader statement about investors need to stay on
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course, stay with stocks in this kind of environment where you have such a friendly monetary policy back drop. >> can i argue here a little bit? i actually think this is an inflection point and a time in the marketplace. i think the next six weeks or so we're probably at the greatest possible chance for a significant contraction in our major equities, equity indexes that we have seen for quite some time. infection in kids in the u.s. is the new infection up about 84% week over week, studies in the uk show that five to 24- year-olds makeup about 50% of new covid cases even though only 25% of the uk population. i don't think they are able to open schools properly this autumn and i think when they do that it's going to hit home that the economy already growing below what we thought it was going to be is going to slow down further and i believe the market will due to this delta variant probably hit
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a bump a serious bump. neil: so steve, first i want to be very clear where steve is coming on this , we're dismissing the concerns behind these spikes, and how they could disrupt, in your case you're talking about the school season. that be , you know, a problem for the market to digest to say something about parents across the country and the world if it were to affect school openings and the rest, right? >> oh, sure, i mean, we should get a nice number, i think, this friday. even though adp was lousy this morning the ism number show that the service sector was stronger in the employment than the adp number showed so i think we'll get a nice number because the seasonal adjustment works in our favor this friday but that's the past. moving forward, we're going, i'll tell you what i'm doing okay? i'm getting back into the amazon , the walmart and the target and i'm getting back into the salesforce and the microsoft, strengthening my position in some of the semis and i'm already in pfizer beef
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ing up the opposition and i'm going to have to get back into moderna even though i wanted to wait for a pullback i don't think there's going to be one because you and i are going to need booster shots and everyone else who didn't get vaccinated is going to need to get vaccinated. it's probably time to lighten up a little bit on energy times names, on materials names and industry all names. neil: interesting, jeff, what do you think? >> i'm going to pushback. i do agree with stephen that it's a rocky couple weeks ahead. i be concerned with the delta variant not so much for what it means in the u.s. where we have a combination of fairly high vaccination rates as well as growing herd immunity this is a transmissible disease, and we are simply getting closer and closer to that point where we can expect these or hope that some of these infection rates roll over. it's what we seen in india, what we seem to be seeing in the uk. where i'm concerned about the delta variant is in countries that don't have effective vaccinations, like china, and i do worry that we
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may be in for another global supply chain disruption based on the spread of the disease in china, where their existing vaccines aren't terribly effective, but i'm also going to say, the problem is not consumer s in the united states. the problem is getting workers in. i'm here in kansas city and the absolute heartland of the country, i'll give you an example. a restaurant last night had many sections of tables closed off because they can't get enough workers. they were turning people away, so we have plenty of consumers in the u.s. but we don't have enough workers and that's the real challenge ahead. neil: sarg, you always reminded me in the past that fear breeds fear, sometimes if it's justified amid the concern that this hunkering down is going to disrupt our sort of opening up. that could be enough to wallop stocks. >> i certainly do think we get back on track. i do think that the delta spike does tail off, but i see this , i am let's say i've almost
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doubled my cash levels since last week. neil: really? >> i'm preparing for a gut punch because i think there's going to be one. i think it may not be a worse case scenario but we'll get to that moment in the marketplace where some people think it is and when we get to that point there is going to be a little bit of fear and you're going to feel sick to your stomach and say oh, my is this it and even if it's not it that's going to be your moment of high volatility where there's either going to be opportunity or 10,000 people trying to get through a little hole, so there is going to be either by late august or early september, some kind of shake-out. neil: that's the time a lot of that stuff does tend to happen. we'll follow it closely, stephen thank you, jeff, thank you. to both of these gentlemen's point here when we talk about the delta variant it is now comprising about 93% of all new cases reported in this country, and as if to incentivize people as sarge was
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neil: all right, there are those that watch it and who want to give china the business and other businesses who want to keep doing business with china, but it is a very very problematic, let's get the latest from jackie deangelis following all of that right now, and where it's going. jackie? reporter: good afternoon to you, neil. that's right. look china is trying to overtake the united states and become the world's largest economy so you've got these major corporations that are sort of defending their business ties to a communist country here. it's almost as if there's a china conundrum i call it. we like to not have to rely on them but our economies are so intertwined that it's difficult not to. now, this morning, maria bartiromo sat down with jamie dimon, ceo of jpmorgan chase and
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they talked about the bank's expansion in china. maria pointed out many of the in fractions committed by the ccp on its own people and also the international community , and jamie dimon defend his company's expansion here. listen. >> when we do something in a foreign country we follow american foreign policy. you may not believe this but american foreign policy wants a jpmorgan to properly expand to serve american companies, other companies, and to be part of that. it's at the point in time they decide they don't want to do it, we simply will not do it. reporter: now, dimon did acknowledge that the united states has a problem with china but he also explained that part of the problem is that overtime, not that much has been done about it. listen to this. >> i say about 15 years ago, the business community and the government should have started focusing on china and we didn't. not because we're bad people were happy and they thought china would change overtime and they didn't and we should have focused on it and now we are. reporter: but the question is,
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are we really focused on it? look president trump was tough on china, but amidst the probes right now into the origins of covid-19, the wuhan lab, we haven't really seen that much from the current administration and some are wondering, neil, if we will. neil: got it. jackie, thank you very much, jackie deangelis, is this a worry for joe lieberman, democratic vice presidential candidate with us right now. senator, you know, china is doing a lot more than just wow ing folks at the olympics. it's wowing those who look at its economic comeback, certainly from the worst of the pandemic. what do you make of it all? >> yeah, well countries, the former soviet union and russia now see the olympics not just as a international sporting event but as an opportunity by the number of medals they win to show that they're great power so good luck to them.
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i'm really proud of how the american athletes are doing, and our competition with the chinese is not going to be one on the olympic playing field , but it's going to be one in economics. incidentally, i disagree respectfully with jamie dimon. i think there was a lot of focus on the chinese relationship with the u.s. and we made a policy decision which was to integrate china into the world economy, that be good for us and for them and it would ultimately democratize them so it worked in one sense. it was good for us in a lot of ways economically but it didn't democratize china, and now, we have to reshape our policy toward them, also during this time they took advantage of us in a lot of ways, economic ally, so i think we're at a different stage now where
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we don't want to break the relationship economically, in fact it's too intertwined to break it, but if i could use an old expression, we want fair trade, we want our business relations with the chinese to be more fair than they are, and we want them to know that we're going to begin to compete with them in a way that they've competed with us which means that the american government is going to be supporting our businesses as they develop cutting-edge products to meet the chinese challenge. neil: yeah, but a lot of those businesses want the chinese customer, right? so they are between, where do they go? >> well that's the problem, and we've got to, and it's not easy, as you know, neil. we have to call on american businesses to work with our government in presenting a
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united policy that the chinese, in other words you can't just do what's good for your business. you got to do what's good for your country too, and there is a sweet spot where you can achieve both of those , and i think it begins, there was recently a piece of legislation that was brought out with bipartisan support for the american government to subsidize some major businesses like computer chip semiconductor chips and the like, in which the chinese have been gaining advantage over us and part of it is because their government subsidizes their businesses. we expect our businesses to fight this fight alone. it's not going to work anymore, and i think it's in our interest to do that. i think members of this , this is one where members of both parties in congress can really come together on what should be done toward china and
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the comment made just before the biden administration has been saying a lot of the right things about china, both in terms of fair trade, fair business, but also in terms of the unaccept ability of their human rights political freedom policies toward hong kong toward the wegers, et cetera. so we got to hang together or else a few people are going to score, businesses are going to score short-term victories but in the end, america is going to lose. we win against the chinese if our private and public sectors are united, then there's no excuse for us not doing that now neil: they never are though. let me ask you real quickly about what you make of the new york governor situation, and the president yesterday saying he should resign. do you, senator, think andrew cuomo should quit? >> i must really be honest about this and just say that i
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feel terrible about it. i'm not particularly close to governor cuomo, but i've known him over the years, i knew his father, governor mario cuomo, i had great respect for him, and this is a first rate public servant so there is a real tragic element to this story, but i've got to say, and i hate to watch people jumping on him right after this report comes out but i must say, standards have changed, and the kind of behavior that the attorney general's report found the governor cuomo was involved in and the evidence was credible and in some cases corroborated, it's just unacceptable today, so the governor has a tough choice ahead of him and it looks very bleak now. at one point, i'm sure he hopes he can finish out his term at least, but it looks like it's going to be pretty hard for him
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so i think he's got a tough call to make, does he resign, or face the prospect of an impeachment and my guess is ultimately, as defiant as he is right now, he decides it's better to state his case, say he's innocent but essentially he's not going to get a fair trial and so with a heavy heart he will leave the governor' office. neil: i'm going to get my producer here but i want to follow-up i know you knew mario cuomo very well, the governor was using his father yesterday and his mother by saying particularly his father was a hugger, a very in your face-a type of a guy. there are huge stark differences between that behavior then and the alleged behavior now, with the son. did you think that was appropriate? >> you mean the behavior that
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governor andrew cuomo is being accused of? it's not appropriate. neil: comparing it to his father comparing it to his father. >> oh, okay, well to me -- neil: to be throwing his own dad under the bus. >> yeah, well, you know, i don't think he was throwing his dad under the bus. he was probably reaching to his dad's memory for kind of life line, and that's just human and i can't condemn him for that , because his life, when you think about it, aril more than a year ago, governor cuomo was giving us daily press conferences. he was the alternative to president trump. he just was totally in charge, things were going well here in new york, smart, tough, practical, and then it all collapses beings and it looks like it's going to be hard for him to hold on to the governor's office. this is a proud family, they really served our country.
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its got to really hurt him not only personally, but in terms of the impact of his behavior on his family's name, so, this is where my heart goes out to him, but you know, he's done a lot of good work in public service. he's got a lot to be proud of, and i think he's at a point now based on that report of the attorney general yesterday where he's just got to cut his losses and move on. neil: joe lieberman, thank you very very much quite right. >> thank you, neil. neil: too bad, dominating the governor's office foreclose to 24 years when you combine their terms. we'll have more, after this.
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neil: all right, so add joe lieberman to the long list of top officials, former top officials saying that andrew cuomo should go, brandon lens joins us again, the albany times union managing editor he was all over this story, anyone was, where is this going, brendan? >> well, members of the legislature are making it clear that they have the votes to initiate impeachment proceedings and to conduct an impeachment trial and that they have the votes to impeach the governor and they intend to
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do this quickly so some of them are demanding that he resign immediately within a day or two and not drag this out. neil: covering to the degree you have, do you think andrew cuomo would resign? in other words if he faced a vote like that, that looks overwhelmingly for at least getting an impeachment going that he would quit? >> it's possible. you know, one question we debated internally here is where does he go? a 63-year-old governor hoping to finish his third term at least, i would think, he's probably realizing now that a fourth term is out of reach, so would a law firm hire him at this point with this sort of report coming out on him, it maybe tough so he is digging in, and if his closest aids are telling him to stand strong, this could turn into a really colorful fall in new york , for sure. neil: the lt. governor will move up to governor but a lot of people have been eying the state
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attorney general who, you know, authored and headlined this investigation herself and i'm wondering whether she could come in the mix and run for that same office, come next year. >> potentially, sure, a lot of people have put her as a front runner, should she enter that race, some people believe she's done a good job as the attorney general, coming in with very little, if any, prosecution experience, but i think certainly for the attorney general she would rather not enter that arena until cuomo has left office. it would probably be that. neil: got it. all right, i apologize for the truncated brendan lions at the albany times union, we'll have much more after this. 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.
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neil: i got four seconds to say, here's charles. hey, charles. charles: neil, thank you very much my friend. good afternoon, everyone, i'm charms payne. this is "making money." the breaking right now the market digesting a massive miss on the adp jobs report a long line of miscalculations by the experts on wall street who keep throwing every excuse at the book except maybe something is wrong. speaking of confusion by experts, what is the deal with the federal reserve? are any of them on the same page? to that degree neither is congress. the latest example, not just bridges and roads are in the bipartisan infrastructure paag

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