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tv   Cavuto Coast to Coast  FOX Business  October 5, 2021 12:00pm-2:00pm EDT

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you know what the original name of that song was? it is not crazy. do you know what the original name was? >> nuts? stuart: stupid. good decision. who would have said that patsy cline, "crazy." i don't know where they get the questions but our time is up. neil, it is yours. neil: thank you, stuart. technology stocks a real turn around there. a lot of technology stocks are seriously under water going into today? almost all the prominent names are at highs. attention for the time-being appears to be on facebook. not only head, founder of that company, mark zuckerberg looking at a loss on paper, on paper, of aboutbillion dollars -- seven
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billion dollars last couple days, the losses could compound. when you look at mark zuckerberg, it is enormous sort of indictment how he has been running the company if we're to believe everything this whistle-blower has been telling congress today. jackie deangelis has been following very closely. what do you have for us? reporter: this is remarkable. obviously watching the market rebound here. tech helping the rebound. energy of course incrementally doing a little better today but facebook seeing a little bit of a pop and see the other tech names as you well. what is interesting you mentioned the six billion dollar loss that mark zuckerberg faced yesterday, now possibly even more than that. what is a billion between friends at this point? i will say that the whistle-blower was on capitol hill, is on capitol hill this morning, frances hague with blistering testimony. listen to this. >> the company's leadership now
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how to make facebook and instagram safer but won't make the necessary changes because they put their astronomical profits in jeopardy. reporter: haugen says the company put profit over people as it faces real oversight issues. she is i saying the company is toxic, it values profits before people. in response to haugen's claims, the facebook director of policy communications said in part, quote, every day our teams have to balance the ability of billions of people to express themselves openly and with the need to keep our platform a safe and positive place. end quote s that the kind of response we should be hearing from facebook? listen to former sec chair harvey pitt. >> what facebook should be doing right now is taking the while sell blower's complaints, without conceding that it has violated anything it should be
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fixing the problems itself by sitting back and waiting for the government to tell it what to do. the only thing it can be sure of is that it won't like what it learns from the government when the government finally speaks. reporter: what is interesting here facebook is saying that it is working on the programs but we don't see any real change and the bottom line here is all about regulation. during the pandemic we saw those zoom hearings when zuckerberg was on the hill. the hearings we're watching today. what congress will do is an open question and it will, neil, impact facebook's stock price. neil: what have we heard from him so far? >> he has been quiet so far. putting his people out there with these statements and messages. last week we had tiffany davis on the hill, despite the fact we have data it hurts teenage
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girls. no, no, instagram helps them rather than hurts them. we're talking about alternative facts here. how are we looking at this? neil: wow, in other words it has some traction. very, very interesting, jackie deangelis on all of that. our other big story is trying to make sure the nation doesn't default on its debt unthinkable as it seems. we have crossed this 69 times since the '60s, now they're at loggerheads. democrats are told they have to do this on their own. chad pergram with the fast moving developments on capitol hill. chad? reporter: the theory the gop may start to engage on the debt ceiling once they see the market is spooked or hear from bankers in new york. mitch mcconnell said they can do the debt ceiling on their own by using a filibuster exempt bill. >> a few more votes they would rather duck.
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the democrat leaders running america are saying with the straight face are saying that the entire u.s. economy should be based on the procedural convenience, convenience of washington democrats. reporter: the gop is threatening to filibuster a hike in the debt limit. democrats are reluctant to alter senate precedent on the filibuster. >> filibuster has nothing to do with the debt ceiling. they have other tools we can use. if we have them we should use them. >> would you lower the threshold to 51 votes? >> forget the pill buster, okay? we can prevent default, we can really prevent. there is a way to do that. reporter: decade ago the standard & poor's downgraded the credit rating of the federal government because there was so much drama with the debt ceiling in congress. there is concern history could repeat itself as washington theatrics intensify. >> that seems very reasonable for me that the ratings agency
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would worry about the stewardship of our currency and our debt right now i don't think another downgrade is off the table. reporter: democrats have teed up a procedural vote tomorrow to break the gop filibuster t needs 60 votes but the gop is not budging yet. neil? neil: chad pergram, thank you very, very much, my friend. normally when it looks like congress is cascading into something bad markets tend to panic. you might recall what happened with tarp, troubled asset relief program back in 2008 when it looked like they had an agreement to keep the government lights on and to rest cue troubled financial assets. that vote went down to defeat and the dow careened close to 800 points. they quickly remarshalled everything. got back to together, passed on something that ultimately got passed and markets continued to tumble in the weeks and months to come. could history repeat itself?
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he has been around a long time and correctly called some of our most historic and iconic market moments. peter are we in for a drubbing on this, what do you think? >> it might be more than a drubbing neil. good to talk to you after a while. i did an update on youtube, neil, on september 4th. the all-time high close in the s&p was september 2nd and my update talked about labor day and how important, i don't know what reason, i can't give you a reason for it but how important labor day has been in historically overvalued markets. we can go all the way back to 1929. the market topped on september 3rd. that was a day or two after labor day. you go to the year 2000, the second probably most
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historically overvalued market in history, after the current one because we are easily number one now and the top in the market although you, we all know that dow topped in january of that year and the s&p and nasdaq topped in march the new york composite which is all the stocks on the new york stock exchange topped within a week of labor day in the year 2000 and sure enough this year, neil, a labor day 2021, the top on the s&p came the day before labor day, on the nasdaq a few days after. i think that has a chance, i said when i did this youtube update, neil, if people want to see it on youtube, it is obviously free, just do a search of eliades an labor day and it will pop up. when i did the update i thought it would be one of the most
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important updates i ever done. neil: let's cut to the chase here, what do you see happening? when these phenomena occurs what follows? >> well a major bear market and because of how overvalued we are, the other thing we should mention, you know these valuation indicators we're all acquainted with them, buffett indicator, there are some of them and they have been hugely overvalued for so long so they're not good market timing tools. you can't time the market and say it is time to sell because we're overvalued but when they occur in association with all of the other technical things then you're facing the prospect of a very bearish market. so what is the prospect? well i think we faced the prospect of one of the great bear markets in history. i know i have a reputation for saying that but the last time we spoke in any detail, it was around my sign of the bear in
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early 2018, late 2017, the new york composite topped that january and through the end into the christmas bottom in 2018 there was a 21% decline. so the sign of the bear was successful in predicting a bear market t wasn't as serious of a bear market i thought it would be at the time. this one, i believe, neil is going to be a lot more serious. neil: when you say a lot more serious, say a lot more serious, that one you're quite right was 21, 22% from the highs, it was short-lived, we got out of that one fairly quickly if memory serves me right. what are you looking for this time? >> we've spoken about this before, there is almost unerring 20 year cycle in the market. go back to 1922, 19 h 1942, 1962, 1982, 2002, very important market bottoms. the next one is scheduled for
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2022. i think it might be later in the year because i have other cycles pointing for late 2022 but i think in late 2022 we might see some kind of at least short to intermediate term market bottom. i hesitate to tell you how far down i think the market could go before we get there. i will be looking for at least as great of a decline as we saw in 2007 to 9, neil. neil: right, right. that is what startles me there and that was something that hung on a while t was a drip, drip, took thousands of points as i was going talk about the failed tarp vote later in the day that got going. in the interim and afterwards we fell thousands of dow points there. again, close to 50% off our highs. i'm just wondering, you look at, you're a technician. you follow charts very closely. you're one of the world's best
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at that so fundamentals and ault this other stuff matter little or how does that get into the mix here for what you do? >> you said it, neil, you said it, fundamentals matter not at all. people, some people think that if they get up early and watch the financial station, yours included or "the wall street journal" or whatever they're going to get a leg up on the market. it doesn't work that way, neil. the market as far as i'm concerned the market works in cycles but it gives us evidence. when we reached that top in september, neil, there were two very, very important trendlines, channels on both log rythmic chart and arithmetic chart that works with numbers. we reached up to two very important trendlines. i wish i could show you the charts. maybe some day soon we'll be able to show them because they were so important and after this
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huge, huge, rally, getting up to that point at the same time as this labor day phenomenon was occurring, i believe it dealt a death knell to the markets that is going to be, serve repercussions over the next several years. certainly into late 2022 where i think we have a chance to see some kind of a decent bottom. but you don't want to see the numbers that i think we might see by then, neil. neil: by then you're talking about the market cut in half? >> at a minimum. neil: at a minimum? outside of that, mrs. lincoln, how was the show? peter, get you back on this talk to you a little bit more on this, fascinating my friend. we always try to get the bull argument, bear argument. we want to hear all sides on this market. we never book a bear without a bull, a bull without a bear just
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for balance. so you can be prepared and make an educated hunch where we go to from here. we've been doing that certainly at fox news for the better part of what, 25 years now. i was here at the very beginning moving over from cnbc. for a while i thought i entered the witness protection program but today look at us. dan scott, ceo, president of news, and some of the originals, originals from 25 years ago ringing the opening bell. you know i started here being one of the younger people. now i'm like papa. they always try to remind me, pops, you're on right now. what an incredible moment. i would have never foreseen a moment like this 25 years ago. thank you, america. we'll have more after this. ♪.
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just take the bill, it will deal with the virus, it has been you know soaring of course giving back a little bit today. ibm has been in and out of positive territory here of course between the chip shortage that we've been hearing, the supply chain issues, ibm has been dealing with the brunt of that but not as badly some would have thought given all that. a little more on that in the show. we told you what is going on among health care workers. you might be noticing fewer of them. there are serious shortages for a variety of factors, some because of mandates in their towns, localities, states, every single one of them get a vaccine for the virus and others simply because they're in short supply period. let's get the read from craig apple, the albany county sheriff. sheriff, thank you very much for joining us. i'm looking at this and this worker shortage because it extends to hospitals and health centers and the rest and it is
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getting worse. can you update how it is looking in your neck of the woods? >> so it is kind of a perfect storm here in albany. we've got a health care staffing shortage that started just all the way back to folks not getting involved into health care, into nursing and academics as a result of the pandemic which obviously is going to push a shortage into our health care industry. now we're closing down wings, we're closing down, we're closing down urgent cares. needless to say i run the ems division, one of the divisions within the sheriff's office here in albany. we have ambulance now every day sitting in for two hours. that is extremely problematic. it trickles down to mute all aid, we're having a entire mute all aid throughout our entire
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county. neil: what does mutual aid mean? >> they have a private ambulance service in the city of albany. when they are tied up i have to send ambulances into albany. which means i'm stripping another part of the county we normally provide ems for. if i'm pulling something from the town of bethlehem into the city of albany, obviously la hem is short and we're shifting resources. greene county, the county to our southern border, if they call, we're pushing ambulance down there. i have a huge void in the county. i have a staff members, deputy sheriffs are trained, i have a deputy out on ambulances all day. i have deputies that are paramedics perform other job functions, in case we run short we send them out. ultimately we'll run out of ems and am ambulances. neil: so, sheriff, explain to me when an am bans is called, it is at the hospital for a couple of hours, is that because there is no one to treat the person in
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the ambulance? or there are not other ambulances available? because that is an interesting little subset to this. >> it could be twofold. one could be a matter because the e.r. is full they can't get the e.r. patients out into the rooms because of a shortage in the rooms. as far as those rooms are full, they're double upping, putting patients in the rooms because, like a single room now has two as a result of not having enough nurses or doctors or cnas, whatever the case may be. our ambulances are sitting in the lot for one to two hours. of course there is usually about a 30 minutes decon process they do once do a handoff to the e.r. they have to clean everything up, get the ambulance restocked, get back out on the road. it depends where you're coming from in the county. state ems is part of the department of health has issued a mandate they have, all calls need to be cleared and records process within four hours.
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that sounds like a long time but when you're sitting in a parking lot one to two hours, you get into the e.r., transporting from the far end of the county where four hours is exhausted quickly. that is something else looming out there we don't know how far that is going to be enhanced. neil: i don't know if any of these mandates or health care workers, for example, sheriff, are vaccinated but i would imagine such a policy would make this situation even worse, wouldn't it? >> oh, absolutely. listen, i just lost a deputy sheriff this week who refused to get vaccinated. neil: oh, my god. >> i have lost ems workers. obviously we know that the state is prepared to fire or lay-off 72,000 ems workers, health care workers. this is, i think this is the beginning of a problem that is going to get much worse. seems like we're going from crisis to crisis and i don't see, i don't see a solution for this down the road at all.
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neil: i wish you luck, sheriff. you know, juggling a lot there but man, oh, man, keep us posted, sir. best of luck to you and all of your residents, constituents as well. we're following that development. we're also following what is going on in washington right now where they're trying to cobble some sort of a debt ceiling measure that democrats can only vote on to get it to the president. chuck schumer is talking about getting it there by the end of the week. we'll see how that goes. focusing on spending here. we're told that democrats are scrambling to come up with a way to keep the figure down to $2 trillion but remember, it is in the details here. they can make the numbers work but be very, very careful studying how they do that because the numbers might not work. i'll explain after this. ♪.
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♪. neil: all right, the president is going to be touring around the country this week. he will have stops later on today to try to make the push for his spending plan, no longer calling it the human infrastructure plan. with a different wrinkle here about where the money is going and how it will benefit more americans. democrats hope the strategy to widen this out to a crowd that might sort of put the pressure on their respective congressman to do something might do the trick. go to hillary vaughn following all of these developments in washington. reporter: hey, neil. democrats wanted to get away from talking about the price tag for this reconciliation package but now progressives are wanting people to do a little math to look at the total cost but divide that by 10, because
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ultimately that is what they're asking for from this price tag to have it paid out in investments over 10 years. congresswoman alexandria ocasio-cortez tweeting this, i don't know who needs to hear this but a one trillion bill equals 100 billion a year. that is the annual budget for new york city alone but spread thin for everyone in the u.s. do you think that is enough to be impactful, to be widely felt in peoples lives? it is not. sufficiency is the bare minimum. five trillion is a compromise. pointing out they just didn't want free community college. they wanted all state four-year colleges to be free. they also didn't want to just expand medicare to include dental and vision but also lower the age to qualify. >> so we're going to go forward. we're going to negotiate there will be give-and-take but at the end of the day my own view a 3.5 is a conservative number. >> snorting willing to go down
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to 2 trillion? >> leader schumer -- >> no. reporter: two trillion is 500 billion what senator joe manchin top line number is, pelosi, schumer, deadline of halloween to try to get agreement between moderates and progressives over a price tag is not scaring manchin into any compromise. >> i'm more concerned about our nation and country turning into more of a entitlement society versus a rewarding society. there is no deadline from the standpoint to get something done as i have said before. we got everything covered. anyone in any critical situation. the only thing really comes due at the end of the year is the child tax credit. reporter: neil, yesterday the president met with progressives, trying to get them down closer to $2 trillion. they will have to cut programs or cut the time that the programs are funded for from 10 years down to five or even three years and today, he did meet with some moderate members to kind of take their temperature on if they're willing to go as
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high as 2 trillion. neil? neil: you know the weird thing about that though, hillary, let's say they cut down the years a program would be available. it would be very hard to just stop, right? i mean once a government program is in effect you might say three years from now you will pull it down, good luck with that, right? reporter: that become as huge voting issue. that is the concern from moderates as well. manchin said he didn't want this to become an entitlement driven economy. he is concerned about these programs being put in place in the first place because you're right, once you get it in there, once people rely on it, they expect it, it is really hard to vote for anyone that will take it away. neil? neil: gotcha. thank you very much, hillary vaughn on all of that. mark meredith on another issue that is uniting a very disparate group of folks concerned about the power that the irs could have here down to the money you're moving it around in your own banking account. mark meredith at the white house with more on that. hey, mark.
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reporter: neil, good afternoon. as you are hearing republicans standing firm in opposition to the spending plans and because of the price tag, even some democrats feeling that way but we're hearing from a number of conservatives that are concerned what is in the bill and the government's ability to overreach into americans daily lives. raising concerns what it means for the irs. they are expected to see a staffing surge which would allow them to track down more people breaking the tax code and audit more americans. under the plan they considered, banks would be required to report annual account inflows and outflows which essentially means the irs would get a lot more data on accounts over $600. treasury secretary janet yellen she is all for this. she says taxpayers won't be burdened when it comes to providing the information. banks will do it automatically but she argues this will help the irs target those americans who try to break the rules. >> a simple way for the irs to get a sense of where that might be is just a few pieces of
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information about individual's bank accounts. nothing at the transaction level that would violate privacy. reporter: but republicans say it's a huge invasion of privacy and a big step towards allowing the government to monitor and control how people spend their money. we heard this morning from iowa congresswoman ashley hinson. >> the proposal plain and simple. look at plans coming out of the biden administration, no wonder they want more irs agents for compliance and insight what we're doing and spending because that is the best way to control their lives. reporter: banking lobby is firm in opposition. they put out several statements they're not on board with this idea not only because of privacy concerns you heard from republicans but neil, this could force some people to say i don't want to do business with a bank all together especially in a rural community. neil: numbers remain that small. a lot of people will say, whoa. mark meredith, thank you very much for that, keep us posted.
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meantime i don't know if you've been hearing the fuss over these so-called pandora papers. a big investigate found beginning in "the wall street journal" by the way, that so many of the rich and powerful have found very creative ways to fund their mansions and yachts, artwork, and all of that stuff. some using perfectly legal means to avoid the taxman by foreign offshore accounts, all that stuff but it did sort of hit me and sometimes these kind of things do that you know, the rich have ways of dealing with higher taxes and shielding their income and their wealth from those taxes. this proves it. brandon arnold is the national taxpayers union executive vice president back with us. brandon, we don't know about the legality of all the moves some of these guys were making but they cover a broad swath of the population you know from kings and potentates to famous actors
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and celebrities and sports personnel but to a man or woman they have found ways to dodge the taxman and i'm wondering in the face of higher taxes here they will be just as clever, what do you think? >> i think that is absolutely true and look where they're move money? moving money to low-taxed jurisdictions. one is the united states of america. they're moving money here. shifting wealth to south dakota, delaware, other states. why? not just because we have relatively low taxes but a strong adherence to the rule of law here and strong institutions. when there are corruption elsewhere, high taxes elsewhere, that means the united states becomes more and more attractive. i want to keep it that way. i would like to keep our taxes low and keep the irs and other agencies at bay and not harassing taxpayers to make it inhospitable climb. neil: come up with ways, raise
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taxes on this group x-percent and limit deductions of north group x-percent we will get x-amount back. they have already factored in with all the taxes they will be able to raise two trillion dollars over 10 years. do you think that is a realistic figure? >> no. in all likelihood they will get significantly less than that. for reasons you alluded to, because people behave to high taxes by changing their behavior. they respond by shifting money to other jurisdiction. a lot of that happens in the corporate space where they have an army of accountants, where they have an army of tax attorneys that know exactly how to game the rules. they know how to find the offshore havens and low-taxed jurisdiction and shift intellectual property, shift the corporate headquarters in order to minimize the tax burden. that is exactly what they have done in the past. why lowering the tax rate in 2017 was so critical to bringing back job growth, bringing back economic activity to the united
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states soil by moving opposite direction. neil: we'll see where this goes. they're having a devil of a time now convincing americans this is only a target of the rich here, especially with some irs and other developments, it could go much, much lower. brandon arnold, thank you very much, meantime what did dr. fauci mean just keeping an eye on a less crowded christmas gathering? he dialed that back but some say he is just added to the confusion. after this.
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continuing to get those numbers down. that was misinterpreted as my saying we can't spend christmas with our families which was absolutely not the case. i will spend christmas with my family. i encourage people, particularly the vaccinated people who are protected to have a good, normal christmas with your family. neil: you know in the end i guess it depends on your family, whether you want to be with your family but there is a little bit of a 180 on the part of dr. fauci. all he is saying in the beginning we don't know where the spike in cases and everything else, the better part of valor not to go ahead to make elaborate airline plans and all that, before taking that back, because everyone said you sound like the grinch. the grinch is inspirational story but i digress. lydia hu, finally seeing her in the flesh. lydia, you do great work. we were chatting during the
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break, this notion all right, you have the possibility where you're going to be limiting the number of people coming to your house for christmas. then we're dealing with the supply chain disruptions. how many presents you see under the tree. where is this going? reporter: i is describe to the fact that people will be delighted to see their families this holiday season. that will encourage retail spending, what the retailers are expecting because they are saying shop early, shop often, you want to make sure you get what you need because the supply chain issues will snarl the delivery, selections will be slim, inventories will be slim. we might not have the usual options on the shelf particularly when it comes to electronics, apparel. even cars if you're planning on a big ticket purchase. they're getting message out there. big retailers are capitalizing on that. amazon launching the early black friday sales, called epic daily deals. instead of a couple of days
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these will be going on for two months with new sales daily on products like electronics and laptops. i took a peek. there are some good deals out there. target is getting in on this. debuting deal days sunday or tuesday. they haven't revealed exactly what they will be offering but they are promising deep discounts. they will have a price match guarranty within two weeks of the date of purchase. if you find a better deal out there they will match your purchase price. i would bet, neil, other retailers will follow suit here. they want to capitalize on this. we are waiting for the national retail federation holiday forecast that comes out every year but accounting firm deloitte has already issued a prediction, they are expecting seven to 9% growth this year in holiday sales, capping out at $1.3 trillion and there are a lot of reasons, neil, that makes sense. you know we have vaccinations climbing, we have cases declining, people also have a little bit of extra cash from
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the child tax credit, so they might spend that for holiday sales. we'll have to see whether or not the supply chain, maybe inflation, could be some roadblocks. you feel like your dollars are not going as far, we know it is not. you might be a little hesitant. we'll wait to see exactly what happens. the predictions are saying, sales will grow but shop early because the supply might not be there. neil: they're freaking us out, aren't they? reporter: yeah. neil: i got to rush for present the for all the friends, it reminds me of the grinch. reporter: right. neil: shop, shop, chill, you're missing the whole season thing. reporter: i agree with you. i shared with you my thought is, if it is not there maybe you don't buy it, enjoy being with your family. neil: that is ridiculous. but you're right we're in a materialistic world but the sales are out there, right? this is the earliest amazon has been featuring, i think target to your point, earlier than normal to be doing this, because
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we're still a few weeks away from halloween. reporter: if you remember they had deals offered earlier this summer. every time they come out were the amazon prime days or something special they sell more and more. the incentive for them is there. their sales are good. neil: the sales, people start, although i always wonder about the sales, are they really sales or -- we don't know. reporter: i took a look. it seems like the sales are good right now. not to give a plug but they got my attention. neil: i don't mean to be cynical or for that matter sued. lydia, thank you very much on that. we have a lot more coming up here, a lot of people getting ready for the holidays. they will be doing a lot of eating, not me, but apparently people eat like crazy. we have tony little here. he is a personal trainer. he almost makes working out seem like fun. i want to stress, almost.
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neil: could be me. in fact i'm already smelling it. what is heaven like? for me it would be waking up to this. i noticed patriots pointing out earlier all the little tomatoes are deflated. >> they are deflated. neil: wonderful people are here. thought it was for me. turned out to be pizza.
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>> my house. neil: you're a virgo. it is my food. >> let me. entertain you. neil: had fun moments over 25 years. a lot of them oddly enough for some reason involving food. what is that about. enter tony little who know doubt will lecture me right now, will involve exercising. one of the nicest people on the planet. personal trainer. tony, we're heading into the holidays, right? this is the time of year when people back on the pounds. what do you tell them? >> tell many them not to listen to you [laughter]. neil: [laughter] touche. >> not about the eating anyway. about the news and everything else, yes. no, neil. hey, by the way, congratulations on 25 years. that's awesome. neil: thank you very much. >> you know what i tell people? when you're feeding your body,
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feeding it like your automobile. you want it to run on the best gas, right? that is what you got to do but during this pandemic you know a lot of people have been shut-ins in their houses, stuff like that. so there is a gigantic boom going on with the selling out of home gyms everywhere. you will not find them after christmas for the first quarter, anywhere because of the shipping problems, and all the other stuff. so most people are going to be working out at home. you get psyched up, motivated and you can do it! neil: that is disappointing for me because i was shopping for a home gym. i might as well cancel that. can i ask you a question though how do you stay so fit over all these years? you're a celebrity. you could go to any restaurant you want, do anything else, you just don't do it. you don't budge. that scale stays the same for you. you know, you're not a spring chicken anymore either. >> oh, thanks. neil: you kind of zinged me i
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thought i would zing you back. you are really seriously a good model for people but how do you psych yourself to keep that going day in and day out? >> you know what? workouts energize me. workouts make me feel better. they increase mental clarity, reduces stress. i work out device a day, in the morning 30, 35 minutes. i go back a second time, work on other body parts. i do that every day. it makes me feel good. it gives me energy t keeps me in shape. then have the eating part of it, eat four to five small meals a day, getting protein, carbs, drink a heck of a lot of water. neil: fortified large meals a day or four to five large meals a day? >> i don't think so. unless you're using the home gyms a lot.
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neil: okay. you just advise people be careful. everything in balance and moderation. i know you're a big champion of that. try to get some exercise a day. what if people can't do two workout as day. what is gimme you tell them to try? >> if you can't do two workouts a day. most people won't. i'm a professional at my job. i'm 65 now. i have to work out twice a day, right? neil: incredible. >> i have to do it. most people three days a week, just trying to get your muscle up. i believe as we get older work the muscle. get some cardio. only have to do it three days a week. neil: i got you. two workouts a year, set, check, check. got you, didn't i? tony little, he is the best. he is right. everything in moderation, work out. some dessert now and then but more workouts after this.
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you have the flexibility you need to unveil them to the world. ♪ ♪ ♪ your brother. neil: i had no idea where to go into that a favorite of mine, get back to my college years, a big turnaround in technology
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today we had the whistleblower on capitol hill a lot of various entering suspicious behavior facebook they say one thing to do another we don't know where all this is going to go in the testimony and whether it will change copy behavior but it certainly has a pylon of politicians now saying something gotta be done at facebook that the separate matter the comeback and a lot of the stocks shouldn't let you lose sight that some of them have had correction territory in a decline of 10% or more from their highs some of these cases the highs reached at three week ago whether this will sustain power we shall see susan li has been following it closely. >> half of the s&p 500 was down 10% but what does today tell you maybe you help juice the nasdaq since i saw you ringing the
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bell, i think you do have the effect of very bullish effect on the stock market apparently. neil: it's interesting if you look at nasdaq is not like the new york stock exchange, i'm not saying it's absent nine, that's all high-tech, if you think about it we've seen as a technology which is largely but it's interesting in the stocks what's been going on the combat notwithstanding they have seen some big losses. >> i think we have to keep things in perspective were roughly only 5% away from record highs from the s&p 500 and if you want to roll through the tech names on the apple, amazon, microsoft, they have a pretty big bounce today, didn't even really happen if you look at facebook in particular the six hour outage in the whistleblower testimony on capitol hill but
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your backup 2% of the 5% that you lost on monday and i was going to the income figures at facebook reported in the springtime this company made $10 billion in profit over three months, i think with the stock market is telling you regardless of what you're hearing on capitol hill in the whistleblower here, things are gonna change at facebook there still good to make a ton of money, when i was talking to social media executives and what the outcomes might be because of the whistleblower, the whistleblower testimony, there is a going to be much, facebook is not going to be broken up because those were from so long ago they might be a statute of limitation the best case is that they pay a 5 billion-dollar fine which we know money doesn't matter for mega- cap like they have a deep pocket do they increase the age of use for instagram and facebook the past 13 years. neil: instagram thing is come front and center but they dealt
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with hits like this in the past, do you suspect they will again or is there something different? >> if i talk to these executives they don't think there's going to be a lasting impact, remember i told you the worst ever facebook yesterday in a year because outage in upcoming testimony i year ago what impacted the stocks was when advertisers started boycotting the black lives matter movement, at the end the long lasting, no because facebook up 20 something% this year and mid seen on a cheap basis as well but i'll tell you the worst case scenario that social media things could happen is the criminal charges brought against facebook and the pressure with the criminal charges that you hid research from the public and lied to the public knowing what you know are there going to be management changes and doesn't pressure the talk. a lot of them the social media executives don't think that's going to happen and facebook has
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deep lobbying arms that would be the worse case scenario and best case they have to pay a massive fine which we know they can do. neil: the whistleblower landed any punches, is it your sense that congress feels like greater sense of urgency. >> i think there have been a few quotes that may have impact the 10000 pages of documents that she provided that was the smoking gun in this case but for people to be incentivized, that's the way facebook is keeping people addicted to their website and their apps in the platforms that is not a surprise people all body issues, you know that from having children. neil: that's what hit a chord people say do this with us but don't do it with our kids. >> is not just facebook what about other social media companies that push content to
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certain people what about twitter in tiktok of the world. neil: i'm glad they didn't have this technology when i was a kid i had no friends and i would not need the technology to remind you i had no friends. it would've been tragic. >> social media keeps everybody connected if you don't have friends you can make friends online. neil: that is creepy. i'm just saying, thank you very, very much, susan li on all of that our 25th year anniversary on fox news one thing that is a constant theme certainly my 25 years, the role that washington place and often times rattling the market, it's a pretty consistent theme, have a look. >> no deal the bailout goes bust and stocks go south the blame game has begun, it's not what wall street wanted it stocks
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diving close to a hundred point in the worst bubble of the day as it became clear the bailout would fail, a partisan speech by the house speaker killed it but nobody knows for sure, in the end the vote was 2028 to 205 against it. the dues rocking world markets even as they tried to claw their way back down about 603-point that works out to a 5% hit on the day by comparison, in 1987 it was good for quarter of the dalles value, very different at these levels, it is shocking and were all over this. neil: in the end the failure of the program that congress was cobbling together to help rescue the banks, that did fail and they feel that particular day 770 points so they regrouped and got together, another market meltdown, once that was approved another shot, the markets within the weeks and monks are down
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thousands of points, one of the best market reads i know, steve and i know you were a pup in those days but wanted this things that amazes me is how washington often times disrupts market parties or is it the other way around? what do you think. >> are party had gotten a little too hot so bp is good that we were forced to step back a little bit and reassess the risk, right now we have a full risk and we don't how to price and what size and physical package and the duration of the fiscal package that the country will go forth with we sell monetary risk although we think we don't know who will head the central bank, china risk, inflation risk, the economy seems to be slowing not to the point of recession but acceleration of economic growth we certainly hope it wouldn't be
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there's a lot of things that the market has the pricing i told you in august we were facing for - 6 weeks ahead were about 5 - 6 weeks into that maybe we have to extend it and go towards late november, i do think that we get to a point where santa does show well and maybe has to happen next year but so does tina, there are no alternatives there's better days ahead. neil: at famous bear and he is saying that were due for a big hit, up to 50% in the market because they are simply way overpriced. of course he looks at the technicals on this. and you kinda balance the two when you look at things, what do you think of that, the notion that were due for that kind of a beating. >> of the central banks were to step away and if there was no overload on fiscal policy he would be 100% right in that relative terms he might be close to right, the fact that these
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external forces that impact markets do exist, i do believe and thus we have a severe stagflation ahead of us, which we might but i still believe i'm still the last guy that believes inflation might be transitory, the fed will be able to act when it needs to and hopefully the fiscal package will be too large and i think they'll be able to arrest an economic collapse that would lead to the situation mid 2022 if and when that were to happen. neil: what if neither package in washington passes? >> i think that would be taken as a severe hit for this administration but reputation really i think the markets would react negatively to that i think the markets are rooting for a passage of something i don't think they want the largest size. neil: that comes without the tax hikes. >> that's only $550 billion worth of new money, that is not
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an overload that is quite necessary to get america working again, let's face it we do have a labor force participation that we need we need to beat the fire is first and foremost, we need to get the virus into earner families that want to be two earner families back to being two earner families everyone thinks the labor market lack of participation is due to the fiscal stimulus that was growing towards people's way and maybe some of it was but a lot of it is 200 families that are afraid to be two earner families because somebody has to stay home. neil: you mentioned outside and you might want to run the other way, this is the sleeper scary issue for the markets that no one appreciates, what are the things with the hundreds of sorting missions in chinese have conducted near taiwan and then refusal to make good on the trump trade deal so much that tariffs remain in effect with
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china and the whole of a grand thing in china is bubbling up to be a wildcard, what do you think about it. >> i think china is a problem and there's no doubt were in the cold war with china whether president trump or biden is running things. i really don't like that they're harassing taiwan so much i don't like that they're hostile towards japan, korea, australia even the united states and canada i think they have refocused and re-centralizing power and no longer the focus on economic performance or corporate performance that's not what they're after, right now they're focuses imposing power on their own people in the region and beyond. we really can't count on them to be the driver of economic growth going forward for planet earth and a lot of american corporations have made huge mistakes by outsourcing the manufacturing base to china into that region even if you get to
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pay people more is better to have the stuff made right here or nearby. neil: you'd rather be responsible for your own people than other people, a large manufacturing presence because that can go baby that is an issue. always good to see you. he has an uncanny look at looking at the whole world it's quite fastening to look linking together into the mix, the figuring of this facebook whistleblower in your testimony in washington that's already having huge reverberations. >> yesterday we saw facebook it taken off the internet, i don't know why it went down but i don't wear them five hours facebook wasn't used to deepen device, destabilize democracies and make young girls and women feel bad about their bodies, i believe in the potential facebook, we can have social media that we enjoy, that can
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access without tearing apart our democracy, putting our children in danger and ethnic violence around the world, we can do better. neil: that is it, when the former top insider at facebook said when everything went down six or seven hours, all was good that was a good reset for the entire world, the former white house chief information officer, teresa, what did you make about that i found out a fascinating comment though she's hopeful there is good in facebook she was relieved yesterday and that she didn't have a facebook or instagram for good seven hours. >> there's pros and cons i think of all the small businesses that i know that don't have their own webpage anymore they used instagram and facebook inclusively to reach out to our customers so they were down all
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day yesterday it was not a good day for them. at the same time i been saying for years that the governance model for all big tech and social media but especially facebook needed to be more transparent how did they decide how algorithms work, how things get served up to different people how do they moderate was happening on the sites and we had the lack of transparency and we have it now with the whistleblower. neil: using the stock, the stock took the real dip yesterday zuckerberg lost six or $7 billion on paper it was down 14% from the highs and it's regrouped a little of that but it weathers these things, will weather this? >> it does whether these things and they will bounce back from this. the question really has to be do the regulatory agencies that
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could potentially have oversight governance over social media especially facebook and is the hill in the administration do they have the grit and determination to understand what is happening technically under the hood and actually hold them accountable to a higher ethical standard we are lacking national and international standards on the ethics of artificial intelligence, algorithm, big data and it's way past time to start to have the governance and transparency. neil: you think this time could be different? >> it could be different, i don't think were going to see a long-term hit on the stock price based on what's happened to date but if moore comes out from this particular whistleblower from francis or if other employees come forward to whistleblower on other printer programs that we
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have a lack of transparency it is possible there could be long-term damages based on what i heard so far the stock will eventually bounce back. neil: certainly bouncing back today, in the meantime i want to bring your attention to something that's been going on in new york, new new york city itself is booming, real estate now is the highest we've ever been not since the pandemic, going back before the pandemic after this. ♪ flexshares are carefully constructed. to go beyond ordinary etfs.
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neil: a lot of you commenting on my conversation, the legendary bear who is looking at a 50% hit in the market in the months ahead because he thinks were two-for-one using technician that only follows sometimes this can be like chicken, he said were due for a big one i wonder how that would impact the country and particularly real estate, ryan has been talking
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about that in impact a year ago he was talking about the comeback that would happen in new york he joins us now, also the author of big-money energy much, much more, good to see you, it's interesting peter looking at the market from a technical point of view, it could be up to 50% or more, i'm sure you disagree with that, if something like that to happen what would happen to real estate. >> i think we seen what happens in markets that been the real estate market time and time again and when people get nervous in the markets they turned to assets like real estate which is what we seen in 18 months why everyone was calling for the end of new york city last year i was incredibly bullish today said by now and look at where we are 4700 homes.
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neil: are you concerned that his come back to the point that everyone is with you right now you are the contrary are then, now everyone is in with you on this, does that worry you? >> no i think markets, but markets go down and i try to be the innovator when i can but when things are good i'm okay being a follower with everybody else or people can follow me, i do believe history repeats itself and if you look at the 1920s we are now into 2020s and things look pretty similar in history with the one course i enjoyed when i was in school and a lot of other people took mastering so if people could just read member history people need to invest smartly they need to be safe they need to take risks but also understand the downside and not be surprised when markets take in turn i don't think we have a 50% dropout by the end of the year
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but do i think things could change drastically in the next . neil: the 20s were great until 1929, you don't envision that for the time being, let me get your take on the back of interest rates particularly phenomenon people paying in cash they also had a chance to borrow against their assets at a very low rate but the rates are inching up and maybe more than inching up, what do you think of the rate environment. neil: we lost your audio, that could have been peter cutting out, we will have more after this including a close-up look at how washington battles back and forth and could impact the very stocks he was talking about including stock in real estate, after this.
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as allied forces to liberate iraq, to control command centers, the focus right now baghdad and you are looking at a live shot of the city for the second time in less than 15 hours, explosions have been lighting up the night sky but as massive as they have been the pentagon saying they are not the real biggie we've been hearing so much about for for that matter what wall street was worried about that apparently has yet to come. 25 years into fox news a consistent theme of how the middle east the general net of the wood iraq, afghanistan, iran and the back-and-forth with the emmett in north yemen all of these plays in a prominent story each and every year the 25 years i have been here way before that obviously in the former presidential envoy to iraq, the national commission on terrorism, very good to have you
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back with us, you could just take that story, flip it around and look at afghanistan and talk about the trials and tribulations in the region that was a catalyst for president biden to say enough, we are out of their callable return, there's great risks in tragedies given the collapse of afghanistan, what should be bethinking going forward in the region. >> first congratulations on the 25 years, fox was launched during the great american sleepover, the decade of the '90s when we essentially took a vacation from history other forces including islamic extremes extremism grew during the '90s and that lesson came home on 9/11 which led them into the military operations in afghanistan and iraq, the afghan
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departure, has hurt us substantially in the region and even among our allies, it was after all a nato operation in afghanistan and we did not keep our allies or european allies fully informed, the problem now, iran which is an ancient empire, iran can be more comfortable with the eastern borders because the american troops are gone from afghanistan and they will almost certainly want to try to push us out of iraq and that would be an enormous enormous mistake if the administration were to pull our troops out of iraq. neil: i'm wondering if we ever wanted to have another drone attack and number troops on afghanistan. the risk of a disaster like the last one are exponentially
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higher, are they not. >> is technically true that we can be over the horizon and do a lot of things, as has been reported often, the drone, if you launch the drone to do an attack and i get to stand the amount of time has over its target is very limited and that means decision-making has to be made quickly and if you do it quickly you may be more prone to making mistakes that is the one that we mentioned. if it is a bit of a false view to continue to have the same kind of security from afghanistan by being over the horizon, what worries me with iraq is the same number of trips, 2500 troops, they are scheduled to end their combat role they're basically training counterterrorism forces in iraq,
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you are scheduled to in their combat role at the beginning of next year one hopes and prays the president and his advisers they will recognize to keep them there an advisory role in intelligence and terrorism forces, the iranians are waiting to see what we do and 100,000 militia iran and in iraq, is a dangerous time in the middle east and the departure from afghanistan is going to be more dangerous. neil: i wanted to talk about china and the provocative moves not only with the hundreds of sorties with taiwan but it is sniffing around the middle east and certainly what's going on in afghanistan it is fighting fire with fire, we threatened them with tariffs that would stay in place, they threaten us, they
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have become a much bigger player and i'm wondering do you think the be a bigger player in the region that used to be following? >> i'm sure they want to be but i think the problem is much bigger is strategic. if you look at the world in the 1990s while we were sleeping in the world today three ancient empires, russia, china and iran were all waxing stronger and when that happens china as you point out is putting pressure on taiwan the russians have grab crimea in ukraine that iranians have arranged for hezbollah informed the first government is ever formed in lebanon. the strategic situation is much bigger than just the middle east and the risk, unfortunately wars
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often start this way a miscalculation by one of the three ancient empires somewhere along the way and obviously the place where the risk is much higher probably anywhere is taiwan just now. neil: amazing, thank you, we will see what happens, always good to have you one, all the fast-moving developments. the big question about jerome powell other have be reappointed as chair of the said why there is a movementht now to make sure it does not happen having nothing to do with what he's been doing on monetary policy. something else after this.
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neil: the president has a great deal of confidence in jerome powell we are hearing this as jen psaki talking about the president's thoughts on various things heading out to michigan for what will be a cello salon for the spending package he is pushing but that is sneaky which is dangerous, what are the prospects of jerome powell getting pointed the head of federal, elizabeth warren say no way in hell now the strategy seems to be going not after monetary policy but something else, charlie gasparino. >> he has control the fed board member can trade. neil: is a trading policy?
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>> in particular he did not really trade stocks, he traded a mutual fund or is hold a mutual fund before before a monetary policy decision in all this trading is a fed that is out of control and we need to crack down on it massively. neil: just trying to plant doubts. >> he should not be there when you talk to people in the washington circle both republicans and democrats wall street stabilizing force and not exactly a hock, this is it our good friend paul volker, i know you covered him but progressives hate him and he has a veto on a lot of stuff meaning elizabeth warren warren i don't put anything by him. neil: you think the president would not reappoint elizabeth warren if she calls and says don't do it. >> code, socialist are all over this and he's very close to
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warren. but i still think it 60 - 40 he gets appointed, have you been following the facebook story. neil: i have, this is a fascinating story we have a little snippet what happened with you on this. >> i'm conversing with the guy who is one of my best friends growing up, we should show a picture of him, there is the tweet that got him in trouble he says charlie let's hook up and have dinner, let's hook up and have dinner and shoot me some dates using the words hook up and using the words hook up a cup like by facebook as a sexually explicit content that forced him and suspended him we show a picture what greg looks like. [laughter] neil: i would not mess with that guy. >> is the sweetest guy in the
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world a very nice guy he was arrested for selling steroids years ago, does that surprise you. neil: they took it down because of the hookup comment? >> yes. what this shows in my view, i should've mentioned that craig is very open he's a changed man. neil: you check to them that you are doing this i don't want him coming in here. >> is an honest citizen he writes columns, maybe hookup was a term. >> if you follow his facebook it's kind of salty, maybe an algorithm saw hookup and shoot in charlie gasparino, you put them all together. >> that is targeted harassment but greg is such a good guy in a decent guy he's turned his life around he's an author, journalist, a bodybuilding legend he once boasted the world's biggest arms. neil: comments like that should not be taken off.
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>> he uses salty language sometime. neil: i don't want to hear that eddie view. >> you know what's great when you listen to it and watch it you can learn stuff about working out so to take him down for this is so outrageous it does look like he ate a human being from those arms. neil: it does, can i ask you to stick around for our next segment. they have a new thing they're adding brexit to their menu, they want you. >> stay away from italian food. neil: that could be a whole new area. neil: we will follow this very closely. what matters to you matters to us. ♪ like jack. he wanted a streamlined version he could access anywhere, no download necessary. and kim. she wanted to execute a pre-set trade strategy in seconds. so we gave 'em thinkorswim web.
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baaam. internet that doesn't miss a beat. mthat's cute, but my internet. streams to my ride. adorable, but does yours block malware? nope. -it crushes it. pshh, mine's so fast, no one can catch me. big whoop! mine gives me a 4k streaming box. -for free! that's because you all have the same internet. xfinity xfi. so powerful, it keeps one-upping itself. can your internet do that? first psoriasis, then psoriatic arthritis. it was really holding me back. standing up... ...even walking was tough. my joints hurt.
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i was afraid things were going to get worse. i was always hiding, and that's just not me. not being there for my family, that hurt. woooo! i had to do something. i started cosentyx®. i'm feeling good. watch me. cosentyx helps people with psoriatic arthritis move, look, and feel better. it targets more than just joint pain and treats the multiple symptoms like joint swelling and tenderness, back pain, helps clear skin and helps stop further joint damage. don't use if you're allergic to cosentyx. before starting, get checked for tuberculosis. an increased risk of infections—some serious —and the lowered ability to fight them may occur. tell your doctor about an infection or symptoms or if you've had a vaccine or plan to. tell your doctor if your crohn's disease symptoms develop or worsen. serious allergic reactions may occur. it's good to be moving on. watch me. move, look, and feel better. ask your rheumatologist about cosentyx.
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neil: chipotle is shaking up the fantasy world that trivializes what they did when you say fast-food they are trying brexit added into the venue we have the chipotle cfo i thought i said see you nobody's kind enough to join us, this is a bit of a departure from what normally we hear out of aaa, i'm wondering why.
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>> culinary team has done a great job of identifying divisional pay staff that you normally would not financial bully the couple of years read carney and sada that was a limited time in a huge success, year to with the bigger success in the team has been experimenting with brisket i am a brisket lover but i never thought i would have it in the first time i had in a burrito it's off the charts delicious in our customers think so as well so far it's been in restaurants for a full week and they are loving it. neil: my body charlie gasparino he's quite the chef buddies more grown to italian food then mexican food, right? >> yes that's true. >> i hope chipotle stays away from italian food. neil: there conquering the world. >> let olive garden have that lane. >> were not planning on apostate
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burrito, young nothing to worry about. neil: to keep team members kevin and michael and they work with me and both of you guys have had a chance to taste this. >> the perfect demographic for this. what did you guys think. >> i had the quesadilla before it was very good. neil: what did you have with it. >> some chips and on the quesadilla was queso, cheese, really good. >> digestion issues? >> not yet. [laughter] >> that's a great way to try the brisket and a quesadilla. i would recommend the hot sauce as well that's a great combo. >> this'll be my first time trying it today on air. we shall see.
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>> what do you think did you get it loaded that is all loaded. >> does it taste like brisket? neil: does it cost more to get the brisket and the others at your place? >> brisket is more expensive and we have protocols for how the animals are raised in higher standards, get enough brisket for our companies, it's the main reason the only reason why is a limited time only we will service until we have run out of supply which is more expensive, you will pay as much is $10 depending on the market. neil: can you have the brisket by itself if you don't want anything else with it if i just want the brisket. >> jan atkins diet.
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>> you could probably get on the cited be very hard to order but you might have to bring a friend with. neil: your businesses back in booming, you could take it out, how is that going post all the covid stuff. >> it's going really well our digital system helped us a lot during covid are sales before covid were up 20% and they shot up to 70% at the peak of the pandemic is now settled to below 50% but the great thing this is what so convenient as our dining rooms have opened up and regain 80% back the business is looking really good. neil: how is the inflation situation hitting you guys do you have to raise prices because of the inflation fears were hearing about. >> inflation is real, i know this is a debate whether transitory or not but the part of inflation that is not transitory for my view is labor
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burden we are paying more for our labor, the only price increase we did raise wages and the may or june timeframe of 15% to $50 average and 4%, that's a great trade-off if you could pay the folks 50% more and more buying power. neil: your customers are very loyal they were paid more. mike and kevin have been eating as you been talking, they're giving you their undivided attention. , would you pay more for that given everything else with aaa, they have a lot of great stuff. >> i definitely would i have been going to aaa before covid and the brisket alone will sell me on pain a little bit extra.
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>> i usually stick to chicken and steak but i'll go back for the brisket. >> in the medicine cabinet is free alka-seltzer. neil: one thing i want to be clear on this, this is fascinating we were not planning this, these guys love to eat their thin and fit but love to eat, i am wondering who is your core crowd at chipotle i know the real devoted days, how would you describe them. >> is a very broad-based, were in almost 3000 restaurants across the country we do feel -- i love it that's awesome. >> younger, high school kids, college kids, all the way up into the mid-30s and 40s and foodies really love aaa, is started by a chef and very
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concerned about the great techniques and he put these together if you're a foodie that loves food but once a convenient and affordable than you love chipotle. neil: you're a food snob you don't go without a tassel on the menu. >> i been cooking since i was a kid i was a dishwasher. neil: you dismiss this food. >> here's what's going to happen i'm going to order and by that for lunch because i skipped lunch today. neil: just to be here with us. >> i will let you know if i need alka-seltzer or pepto-bismol. neil: you don't have to listen to a word he says, very good having you i wish you luck, would you give it a two thumbs up. neil: way to go. >> 's would lose 2 pounds. >> the center of their universe, thank you very much, the cfo, we
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like a coffee run... or fedora shopping. talk to your broker. ten-x does the same thing, - but with buildings. - so no more waiting. sfx: ding! see how easy...? don't just sell it. ten-x it. neil: all right. we're making up lot of frowned then some from yesterday's selloff. dow industrials up 440 points. technology is trying to come back today. not all entities are sharing in
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the ride but they're looking at a comeback today. interesting news out of johnson & johnson, saying it will ask fda to approve its own booster shots to join pfizer. moderna is looking to work on a boos sherr shot on its own. matter of weeks we'll have quite a number of booster shots for you. charles payne to take you through the next hour. charles: good afternoon, i'm charles payne. this is "making money." this is turn around tuesday and the buy on the dip crowd is here in force. but who will make the laws in this new digital world? i'm spying some huge potential long moves in the reopening trade, particularly airlines as declining covid cases could spark big time gains there. grab a pen and paper. we're covering two universes of opportunities for you. the pain-free solution to end


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