tv Maria Bartiromos Wall Street FOX Business October 30, 2021 10:00am-10:30am EDT
modern piece of technology built hundred plus years ago. >> after a century of innovation, los angeles aqueduct runs just as self-taught engineer designed it. water flows to l.a. to intake gate open and close by a hand crank. country does not want the stuff up. democrats do not. i am sorry. ♪ ♪ >> from the fox studios in new york city, this is maria bartiromo wall street. maria: had a happy weekend everyone welcome to the program that analyzes the week that wasn't helps position you for the week ahead. i am maria bartiromo. president biden europe this weekend is as crucial big-ticket agenda items hang in the balance here at home. progressives are digging in their heels against the framework of a slimmed down spending package grade one senior official admitting the biden presidency is on the
line. plus a new report said by the administration is considering paying migrants for under $50000 each. i'll be asking senator ron johnson for his takes on all this coming up. markets largely ignoring the drama soaring to new highs this week. but mark is out they warning about what biden's bills will mean for investors and the economy. plus, florida suing the white house again as well as an asset. florida attorney general ashley moody is back with us to tell us why. but first let's take a look back at the top newsmakers on mornings with maria and this week's edition of this week's talkers. ♪ ♪. maria: wide sentinel being pushed in this country? the underlying chemicals are made in china for. >> china sees this as an opportunity to destabilized and undermined america the cartel sees it as a way to make a lot of money. maria: you predicted gasoline would surge onto the biden
administration way back and october when i spoke with you. is this what you were expecting? >> yes it is, maria. it's all the economic 101. it did not have to be this way for. >> if he continues to get away with coming out publicly and lying to our faces telling us this costs nothing. >> you do a good job on your show, maria fact checking this administration that lies on a daily basis. the mainstream media does not follow suit. >> no deal for president biden first before his europe trip despite making the hard sell for a scaled-back version of the build back a better plan. >> these implants are fiscally responsible. they are fully paid for. they do not add a single pendant to the deficit where they do not raise taxes on anyone making less than $400,000 a year. >> oh wow, we still do not know everything that is in the
bill. joining me now is send ron johnson. thank you very much for being here this morning. walk us through it in the spill and what you just heard from president biden sense not going to add to the deficit at fully paid for. >> while maria is the green energy boondoggle. you are going to see projects from the obama administration. it's a lobby list of entitlements we cannot afford. and add to the debt it adds the deficit spending but from my point increasing inflation we are to have a huge problem in terms of inflation, working out wage against making everybody poor. also entitlements will encourage people to not work. twenty years ago, maria, in 2000 the labor participation rate was over 67%. it's almost six points lower than that.
businesses cannot hire people. we have not only the supply chain disruptions, we have shortages of workers whether it's healthcare workers, truckers, whether it's longshoremen, manufacturers having to shut down shifts. we have all the ingredient's i mentioned this before on previous programs we have all the ingredients for stag inflation. we take a look at the meager growth in the third quarter were 5% inflation which will probably keep growing. that is what it is. it is ugly very difficult to get out of this but i heard your early comments some democrats of the biden administration is on the line. it is already a train wreck. is one rolling disaster after the other. the dangerous surrender in afghanistan, i guess it will get worse if they pass
bernie's and budget, this new entitlement boondoggle. maria: you mentioned the border. from their families 400 to resolve what lawsuits cause psychological trauma, senator broke the law and crossed into the country illegally jump the line. i don't how they could have standing in this kind of lawsuit. the classic liberal sue and settle scam. his administration is on their
side said this before cho labeled the biden administration is one 100% accurate. it's just you kind this is exactly with the policies are meant to do. a flood of illegal immigrants. now they're going to outrageously offer to sell a lawsuit and pay them for the $50000 per person, this is outrageous. we have to figure out some way to stop it. >> can you imagine the huge pickup and illegal migrants coming to the border once they learn of this? go with your wife, go with your husband and get a million bucks just for breaking the law in america. that is certain to create even more caravans on the way and more illegal migration given that we have already
apprehended 1.7 million people this year without the million bucks per couple. >> this administration is turning fundamentals of our constitution on its head. you are paying people a million dollars or more should break the law. they're telling immigrants were not going to deport anybody, give them free healthcare is not bad enough, settle a lawsuit like this with that kind of money, just imagine the flood. there is no telling where this is going to go beyond that. >> you made a good point. from dropping off migrants in the dead of night, secretly on private plane costing taxpayers money to the million dollars per couple, to the illegals, to the $86 billion
of government left on the ground in afghanistan for the hundreds of millions of dollars left on the ground and border construction wall materials it does not feel like this administration really cares about our money and how they spend it. >> the very divisive and economic destructive vaccine mandates that make no sense whatsoever they can now get infected. wish it would've been affected as we hoped and. this demonstration is a rolling disasters. maria: thank you for weighing in on all of that. we'll watch for you and your colleagues can do. senator ron johnson vegas are pretty big morning for investors biden's investors biden's infrastructure i order my groceries online now.
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maria: welcome back here's a look at where markets ended at that week filled with new record highs and mixed technology earning the display read on the third quarter. also, having impact. money founder ceo mark master said investor should beware of congress passes the biden spending infrastructure agenda. he is joining me right now. it's great to see mark thanks so much for being with us this weekend. they're negotiating the progressives are holding the package hostage, and the infrastructure cannot even move forward. your thoughts on the impact of all of this should they pass? >> if they should pass it will be unmitigated disaster for the united states of america. look, summer step to socialism , redistribution of wealth the
governments or confiscate money from people earning it and give it to people who are not earning it. it does not take a genius and economics to understand that if you punish people for earning money and you reward them for not doing anything, the economy is not going to grow. gdp is going to continue to go down. supply chain interruptions like we are seeing and maria because the bull market is been so long roughly 2009 they're too overconfident u.s. large dots for the two overconfident in technology stocks their portfolio will meet analyze them and stress test them and find out that way more risk than they could ever imagine because they are so weighted toward the big huge companies in the united states with no international diversification. maria: is pretty amazing to me the beat negotiating trillions of additional dollars being
thrown at your economy. after witnessing the stimulus done already inflation is spiking, got supply shortages and labor shortage we cannot get enough truck drivers. i spoke to ceo of one trucking company earlier he said the new 60 -- 80000 truck drivers right now would they need 1.1 in the next ten years. so, give us your sense of the cut into the macro story in earnings? this week with amazon and apple come up short by the stocks are down after the recorded numbers because of these issues. >> spike is a real problem for just about every business out there today. look the problem is people do not believe their history brittany 2002 so the nasdaq drop 75%, these are the blue-chip stocks everyone is falling in love with today. because of that they do not diversify any small stocks.
they don't own international stocks. their way over weighted inequities in general general. investors need high-quality fixed income because it crashes always happen. nobody can tell you the exact moment it will happen. but they always do when they do they crash the market to the tune of 20 -- 50%. the feeling 10 feet tell them bullet proof that into their portfolios the risk that's out there in the market is unbelievable. maria: you're looking at global diversification. tell me how you look at money despite all these policies coming at us with may very well be a negative for investors. >> the crucial part for investors is you have to look and how risky it is volatility in down markets? what you decide that you
offset we talked about inflation those bonds will get killed at the same time the market goes down. got to diversify, it got to look at asia, you've got to look at international, europe and you have to have emerging markets is a significant part of the portfolio. we are 21000 holdings and companies that do business in 80 countries all over the world. without that type of a diversification of america does take a big hit investors can have a huge drop in their assets. they forget in 2008 the s&p dropped in the beginning of 2950%. investors should study their history. >> i remember it well, great to see you this weekend with
all of that. mark, thank you. what market manson there. click break than florida's fighting back. the state is suing the white house and nasa over the vaccine mandate for federal workers but i'll be talking with florida attorney general ashley moody will become backup requests the ability to earn a living in the state of florida you have a right turn a living but it shoho how to have an epic adventure. step one. get outside. step two. nope. that's it. no more steps. when everyone feels welcome, it's better out here. here, here, here, here, here, and here. because being outside isn't about what you do, it's about that feeling you get. however you choose. whoever you are. we're here to help you live your adventure every step of the way.
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woman who filed suit, attorney general ashley moody. ag moody it's great to see again, thanks very much. tell us in a nutshell what is happening as a result of these vaccine mandates. >> you know when it was announced after repeatedly telling the american people there was no precedent or the right for the federal government to enact these vaccine mandates through the federal government biden announced a sweeping policy and as a part of that they've done gymnastics to exceed the power he has using purchasing and procurement laws to force health policy on our nation on american workers for it florida as you know we have interest we have a contract with the federal government's through the space of florida, the department of education, the university's bid will aptly be affected by this.
folks in florida will lose their jobs. we have filed suit. americans will not forget this. this is an unprecedented intrusion into the lives and livelihood of florida workers. maria: it certainly seems like it's not constitutional for even put in the intrusion of people's lives aside, is there also a national security threat to discuss? we are in the middle of a pandemic and you've got thousands of nurses being forced to walk off the job. thousands of troopers and firefighters and all these other first responders that for their own liberty and maybe it is a religious reason they do not want the shot. the only thing they have to do is be forced to lose the job and give up all of their benefits as well. >> as you know, i am the wife of a law-enforcement officer in addition to being florida's attorney general i've always stood by our men and women on
the front lines, our first responders. when we saw governments illegally in florida try to mandate vaccines, many of these first responders already had been -- mike had contracted the virus and have the natural immunities, they needed help. we stepped in. i filed briefs in court to support them saying these mandates were unlawful. and we have seen success in pushing back here in florida we first got wind of this we heard the biden ministration was considering going against what they initially said and doing a federal maxine mandate governor desantis and i were clear, we will take action and we lift up to that promise yesterday we filed suit in court. >> where will the suit be heard what are the chances of our victory here. we know florida has done so much to push back against this radical agenda as has texas. and yet the ministration keeps going forward with new rules
and pages are the communist china playbook, frankly. >> we never dreamed we would be using this administration to have to push back so much on not just on the lawful, overreach by the federal government, reckless, irresponsible leadership. governor desantis and i have been clear for going to do what we must do to protect floridians. and in effect we are fighting for american workers, right now in court too. we feel very good about this suit and will continue to step up and push back against this tyrannical president were looking in all of negotiating of a new spending package. the spending and the stimulus we have seen already has caused a ton of issues for the american people including
inflation and supply shortages and labor shortage. i know the governor was talking about using the florida force it's not as direct shot live ships out there waiting to bring cargo in big governor desantis has been clear we have the capacity to assist. we want to run our ports 24 hours a day per they're doing that now but i can tell you late last night i was watching a port operating. we are ready for business. we want to help make sure this holiday season is just it has been in the past and not being run with a sense of failure from this administration and making it easier for our businesses to operate, to get goods to consumers pretty want to be there for them were going to be there in florida i'm grateful we have a government stepped up to make that happen. >> all right we will leave it there. ashley moody will be watching all the developments. thank you so much for joining
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michael newt gingrich former housing and urban development secretary doctor ben carson but it's out sunday on fox news at 10:00 a.m. right foxbusiness start smart every week and six -- 9:00 a.m. eastern joint meet weekdays for mornings with maria on foxbusiness for help will start with your day with us every weekday. that will do it for us in this weekend, thank you s being with me. have a great rest of the weekend everybody and i'll see you again next time. ♪ ♪ ♪ ♪ ♪ ♪ hello this week on the wall street journal at large, still no deal for the u.s. economy shows signs of stalling and inflation continues to surge democrats are still arguing among themselves about the plan to spend trillions of dollars and raised taxes. this is exactly the u.s. economy really needs right now? plus yes virginia there is a santa claus and he might