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tv   Mornings With Maria Bartiromo  FOX Business  November 9, 2021 6:00am-8:58am EST

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me you run a faucet or flush a toilet, take a moment to appreciate the people whose job it is to ensure all your waste winds up where it should. because people like these, so often out of sight, are essential additions to how america works. a new cnn pollans say president biden is not paying attention to the most important issues our country faces. one big sticking point? the economy with more than one third saying it's the most pressing problem we have. we get into it all morning long and a look at markets with features
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mixed, 20-point loss on the dow johnson. we wait for a reading on inflation later this morning. the october producer price index this morning. all three major market gauges closing at all-time highs yesterday markets react to the passage of the 1.2 trillion dollar infrastructure package. european markets are in the green. gains across the board. in england, france and germany. in asia, markets making fractional moves, mostly higher. "mornings with maria" is live right now. ♪♪tories we are following. millions of robinhood users. cheryl has the story. good morning and welcome back, you a marathon
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person. cheryl: moving a little slow, but i have the moves. this is a great news, last wednesday a hacker was able to gain access to its systems by impersonating a party to a customer support employee on the phone with e-mail addresses from about 5 million robinhood users were exposed as were the full name of the different group of about 2 million users, no social security or bank account numbers were exposed robinhood said a extortion payment was demanded. law enforcement has been notified. stock is actually down about 3%. a key new york fed survey shows americans with inflation climbing for the 122nd live month. maria as the federal reserve bank executive about inflation yesterday. >> the story that inflation will be
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transitory, which i guess people aren't liking that word anymore so we will quit using it , but that inflation will moderate significantly as we go forward. we have to watch the data and see if that happens. we have quite a bit of inflation here as your guests i'm sure have been talking about. you are talking about over 4% by the time we get to the end of the share. cheryl: federal reserve governor announcing he will resign at the end of the share, giving president biden up to four seats to fill in the central bank, seven-member board. as maria has been reporting jay powell's future as fed chair is more uncertain as several sources have been telling her they don't expect him to be renominated. the u.s. finally lifting international travel rules after 18 months of shutdown.
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passengers have to show proof of vaccination and a negative covid test two board. this celebrates the reopening of british airway and virgin atlantic yesterday. both bound for the u.s. airlines now have to grapple with enforcing vaccination requirements or face a $35,000 fine for violation. that's going to make everyone so happy and those are the headlines, dagan. dagen: thank you. your morning mover, roadblocks the online gaming company soaring after reporting better than expected earnings after many people turn to videogames during the covid lock down through the company says active daily users grew 31% to 47.3 million during the most recent quarter roadblocks is one of the most popular gaming sites in the world for kids. markets are mixed this morning following yesterday's record close on wall street. we are looking ahead to a key gauge of inflation
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producer index prices coming out this morning. the consumer price index out tomorrow morning. joining me now sandy valerio enjoying the conversation all morning long, fox news contributor joe concha. joe shulman will also be joining us. sandy, what are you watching in terms of the producer prices this morning and consumer prices tomorrow because doesn't seemed like inflation concerns are getting in the way with stocks can be a great hedge against inflation. >> it's incredible. we are very stock specific, so we have a couple holdings we like that can kind of hedge against inflation. one we like a lot is in a perfect spot and when you look at hedge against inflation a little bit of play on the infrastructure bill and the plan electric vehicle so we like it, but watching inflation and none of this seems
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to be transitory. we will see what we get today as well as tomorrow. dagen: what would you avoid here in terms of if you think inflation much higher inflation and i will point to the pce, which is the fed's preferred inflation gauge, it's running at the highest level in 30 years, so if you like free. reporter: moran, what you like, what you hate given the backdrop >> we are definitely trying to stick with ones that will do well in this environment. pretty good and sort of decoupling, keeping rates lower longer as well as tapering right here, so i guess it keeps us a little bit on the sidelines with a handful of things. certainly come i think we want to be in material names and that sort of thing. i went to avoid technology. if you think eventually the fed has to raise rates then certainly tech stocks will be a
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tough spot to be especially the fact that they are so in my opinion, quite overpriced at this point also so don't be around when the music stops on that sector. dagen: done a lot of the technology companies have pricing power in a way that other companies wouldn't if you think that broad-based inflation is kind of the new norm? >> when i'm listening to my earnings report right now, the thing we see is the constant other than the supply chain disruption, there certainly wage inflation and we have this number and you say we just up 4.9% year-over-year, so that's going to keep rippling through with something like nine and a half million unemployed with 9.2 million job openings and so we are just for whatever reason people are coming back into the market here, so i think we are at a 50 year low on the labor participation rate, so
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that's something we see company after company. we want to keep an eye on that and see how it repulsed through, but people come back to work at some point and things can normalize a little bit. dagen: we are looking at the future of the federal reserve, the federal reserve governor announcing he will resign from his position at the end of the year as we wait to see whether president biden re- nominates jay powell as chairman and his term is up in february. at there have been-- maria has reported-- i myself have predicted that powell will not be reappointed, did that weeks ago. fed governor will bring her is seen as the top replacement and reportedly interviewed at the white house last week. here is what st. louis federal reserve bank president james bullard told marie about the future leadership at the fed to listen and then i will get a response. >> i don't know what the white house is going to do. i would caution everyone on this that u.s. senate
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, as you know, is perfectly evenly divided, so it has to be something that the senate is going to go for and so i think that makes it difficult proposition for the white house. i will say this, that fmo mc is a large committee with a lot of experienced players on the committee and we have excellent staff across the federal reserve system so i would expect a lot of continuity in the policy no matter how the appointment process works out in the months ahead. dagen: sandy, your reaction to all of that come in the moving and shaking potentially? >> i think they did a great job of calming markets that may have done a nice job of just trying to make things unpredictable a little bit more predictable as a sort of smooth markets and key people at ease. hopefully, it stays with what they've done already which is to start the tapering, less
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than a hundred 20 billion they had been died and then slowly look to raise rates at some point but they are talking about rates lower through the end of 2022, 23 and holy is stays the same policy despite who is in charge so i like the fact they are trying to dictate and keep us-- keep the markets home in an unpredictable world, so i like what they're doing their. dagen: sandy, thank you for being here. >> thanks for having me. dagen: we are just getting started in coming up mixed messages from the biden white house as it's forced to backtrack again over plans to shut down another american pipeline. we get into it next. next hour at michigan congresswoman is here what's next for washington's runaway spending, the future of the house in 2022 as well and at 8:00 o'clock eastern, former treasury secretary steve mnuchin joins maria to talk about his recent security investment and
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futures of the federal reserve. don't miss a moment of it. you are watching "mornings with maria" live on foxbusiness. ♪♪ (vo) singing, or speaking. reason, or fun. daring, or thoughtful. sensitive, or strong. progress isn't either or progress is everything. ♪ ♪ ♪ ♪ ♪ ♪
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>> why is the administration considering shutting down the line five pipeline from canada to michigan? >> cell, peter, that is inaccurate. that is not right. the reporting about us wanting to shut down line five-- >> is a being studied right now, is the administration is studying the impact of shutting down line five? >> yes, we are.
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dagen: the white house backtracking again after fox news peter doocy asked if it's considering shut down the line five pipeline that runs from canada through michigan and made a global energy crisis, this as 11 democratic senators write a letter to president biden urging him to release oil from the strategic petroleum reserve and banned exports of u.s. crude oil. of the senators noting gas has risen more than a dollar a gallon since the time last year with the national average is sitting at nearly $3.50 a gallon. joe, your reaction to once again an inability to be frank with the american people and tell folks the truth out of the white house? >> dagan, that was like a circle back in real time like in the same press conference within the same exchange between peter doocy who seems to be the only person asking tough questions in those briefings and the deputy press secretary, obviously jen psaki still in quarantine from
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covid, but this administration continues to defy basic logic and a sanity and forget republican and democrat for a moment. at this is common sense stuff we are talking about, where you have gas prices at the highs they are right now, seven, eight year highs with attacks on anyone who drives, which is basically everyone. what we have here is a president about five minutes after taking office and shuts down keystone pipeline, now it's considering this move as well and that was a key graphic you just to show their care to democratic senators are saying you have to stop this. at this is insanity and this is why you see a poll yesterday where 64% of americans don't even want joe biden running for a second term because they say the disaster that this has been in terms of inflation, in terms of supply chain, in terms of gas prices and in terms of basic competency in doing the right things at the right time. instead, they keep trying to appease the progressive way in their party and that does not
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sit with the american people very well. dagen: it's a combination of policy, it's crushed the likelihood of hard-working americans. we are a nation of plentiful fossil fuels. they are cheap and they fueled part of the economy, but they also raise their standard of living. its policy, but it's also an inability to stand up for the poor decisions this white house is making, so when they get caught they lie they can't stand on the ground-- they are on quicksand in terms of the policy decision. >> and it's been nearly 10 weeks since the president has done a one-on-one interview with any major broadcast national entity and i think george stephanopoulos was the last one, we are talking like back in the summer and the reason why is may be a decent journalist would in only asking questions about why are you doing this, they would follow up on that and get specifics
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and get real answers that the white house is petrified to put him out there in those situations because they know he can handle it. dagen: he can handle it and in terms-- it's the biden and the briefing nonsense, but it's also -- jennifer grant hold, how is she the energy secretary? she literally laughed when asked by tom kane at bloomberg how they would bring down energy prices. what she said-- we-- the united states was the swing producer and we controlled the price of oil. we were a net exporter of oil and oil products when president trump was in office and she says oh, it's up to opec. we broke opec, we broke the cartel and then she said we need to rely on less fuel. you can't even store alternative sources of energy like wind because we don't have the battery technology.
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it boggles my mind. i'm doing right now what i do when i'm sitting at home alone in front of my tv listening to clips of her. >> yeah, it's the condescending administration. jennifer laughed, i mean, for a while after that question from bloomberg and good for tom, his face stayed stonefaced liking you give me an answer and she couldn't give an answer or kamala harris, you going to the border, and she cackles. they laughed nervously when asked basic questions, but they can provide answers. remarkable. dagen: i'm not going to do my laugh because it's highly annoying. i will stifle. our stage manager is sitting over here shaking his head going don't do the laugh, don't do the laugh. we will see you in a minute. coming up, the white house refusing to answer question about the $450,000 payment to migrants. congressman greg murphy is here to weigh in on
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dagen: the white house refusing to answer questions about pain migrants separated at the border with taxpayer money. watch this. >> who counts as separated cracks if someone was separated for a few hours or a few days would they be eligible to settle a suit and get this payment from d.o.j.? >> i will direct you to the department of justice for any specifics you have asked the question, we have answered and i will refer you to the department of justice on any specifics. dagen: the administration is said to consider paying illegal migrants $450,000 per person to nearly $1 million per couple with the payments exceeding those gifts to some families of
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the 9/11 tragedy and also exceed the payment to goldstar families joining me now, north carolina congressman greg murphy who is also the member the veteran's affairs and education and labor committee and the gop doctor's caucus cochair. congressman, great to see you. what you make of this inability or decision to not answer any serious questions about these payments that would be paid to some illegal immigrants. you break the law and you get a half a million dollars. >> dagan, this is what this administration does if they were writing the book, the top them things to do to destroy the country, they are well on their way. sadly enough, i think the narrative fits well with the narrative of the progressive left where everyone is a victim. everyone is a victim. they want to-- now i'm sure with the assistance of our trial lawyers the department of justice
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wants to make these people who have broken the law, they have committed a crime, a victim. we see this in san francisco now. costco, walgreens, please come in and steal our stuff, but that's okay. everyone is a victim. the fact we-- once you pay individuals the massive sum of almost half a million dollars who knowingly broke the law simply is unconscionable. we talk about the other things this administration is doing. this stuff is you know this is stuff you just can't make up, you cannot believe this is reality. dagen: joe concha, jump in here. >> congressman, i'm curious, in north carolina if you are seeing what we saw in new york a couple of weeks ago that governor desantis talked about yesterday as far as secret flights into a state filled with illegal migrants, flown in in the middle of the night, florida, new york, those are the flights we know about and i'm curious if you see that activity in the tar heel state. >> i think we are.
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i have heard some things down from new bern in my district, the problem is our governor and our attorney general about sympathetic to the biden cause, so they are trying to keep things as quiet as possible. again, these are crimes. these are crimes against the american people as they try to-- you know we can sing with some in the press conferences they continue to deceive. they continue to lie and yes, i believe there are people being brought in. i cannot give specifics because it's been kept under the rob-- read by our governor and attorney general. dagen: i will point out the "new york post" was-- uncovered the illegal migrants that were being flown into just north of new york city and they were not children, congressman. they were young adult men. the fact that they are doing it in the cover-up darkness in the middle of the night just kind of speaks to the fact that they don't want the
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press-- they don't want the american people to know where these illegal immigrants are being sent. that and then in terms of the payment to individuals and families , the reason that children are separated from adults who were bringing them into the united states is because the government could improve that they were actually family members and so you want to prevent abuse of a child, the trafficking of a child by someone who is not a relative or a family member, so again, the separation was a two prevent harm being done to the child. so, why would that justify a half a million dollars payment? >> think about this, if you go out and commit a crime and you are someone who's a fee for someone who commits a murder and you are separated from your family. you are put into tension, put in jail and separated from your family. well, these folks came in and broke the law.
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they broke the law, so of course they were separated from their family. of the fact that our borders are now open and without a doubt human trafficking and there is children being involved with this speaks to your point. yes, we don't know what is real or not real in this administration seemingly-- it seems like a broken record sometimes, does not care , does not care. they are the progressive left running a party and that's rolling out the american people want. dagen: if you cared about children he would not create the foundation where those of said children would be trafficked into the united states by coyotes and people who hate them and you wouldn't lose track of 45,000 of them who were brought into this country illegally, so if you care about these children , you enforce the border and if you care about the u.s. children you enforce the border. commerce men, beautiful place you are from. >> i love it. dagen: i know it well. folks who-- should come for a visit.
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congressman, thank you. >> thank you. dagen: coming up, china building fake u.s. navy ships to use for possible missile target practice hudson institute senior fellow weizen, plus a vaccine backlash, aaron rodgers taking him for his personal choices, but he is also getting support. we are on it next. [engine humming] [clapping] “we will rock you” by queen ♪ the new gmc sierra with hands-free driving offers the most advanced and luxurious pick-up in its class.
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because amerisave can only help with the part of the dream you can buy... with money. dagen: welcome back. i'm dagan mcdowell and maria will join us next hour. a look at the markets at the bottom of the hour as futures are mixed. 19-point just-- loss on the dow jones futures. looking at the inflation story later this morning with the october producer price index out in two hours. all three major market gauges closing at all-time highs yesterday. markets reacting to the passage of the 1.2 trillion dollar info structure structure package. european markets are in the green this tuesday with gains in england, france and germany and
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in asia markets making some fractional moves, but mostly higher with a nikkei lower by about three quarters of 1%. investigators are now looking into whether a bad batch of illegal draw-- drugs played a role in the deadly afterworld festival. cheryl has the details. cheryl: so, the "wall street journal" is reporting a police are looking at the possibility of overdoses at friday's concert that were caused by counterfeit sales possibly laced with fentanyl. numerous concertgoers who survived were administered melodic sound. that rapidly reverses opioid overdoses. houston police are not commenting on the report. eight people were killed during the massive, festival. travis scott and drink in the promoter are facing numerous lawsuits. we have some breaking news on ge. we are learning ge,
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three public companies will be focused on growth sector, aviation, and energy and then they will execute a tax-free spinoff of the healthcare sector of division in early 2023 and they will also get-- anyway, that breaking on ge and as you can see ge is higher in the premarket. i guess investors like the news, up more than 8%, looks like ge will form three public companies on aviation healthcare and energy. that just crossing just now. looking at macy's, they are giving their 100,000 u.s. employees a pay raise as they try to attract new workers in this type-- tight labor market to the chain will raise the minimum wage to $15 an hour by next may and also add a new education benefit covering one 100% of tuition, books and fees. the program includes bachelor degree, boot camp, english language learning and certification. macy's is lower this
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morning. state farm is sticking by green bay packers quarterback aaron rodgers despite calls for people to drop the the -- in a statement state farm saying we don't support some of the statements he has made but we respect his right to have this personal point of a vu. several of his sponsors are facing pressure to drop the quarterback. rogers tested positive for covid and missed sunday's game against the kansas city chiefs. today, the two of the unknown soldier will open to tourists for the first type in nearly 100 years. of visitors have been able to watch processions from a distance, but now they can walk onto the sacred ground and place flowers. that will happen today through tomorrow. members of the public are also invited to observe a joint full honors procession and a flyover on thursday. that monument, dagan, protected 24/7 rain, snow or shine, it's amazing how much honor
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that they put into it. dagen: i have visited the area many times starting when i was a little kid, so it's a place that has great honor and respect. thank you. we will see you at the top of the hour. the chinese military is building large-scale mockups resembling u.s. aircraft carriers and other warships for possible target practice in a remote desert in the northwest region. images captured by satellite company show a full-scale outline of a u.s. carrier and missile destroyers. the u.s. naval institute reports that the new target range complex has been used for ballistic missile testing. joining me now at sin institute senior fellow rebecah heinrichs. what you make of this? >> this is actually not the first time they have billed one of these. they built one of these in 2019. and they took it apart and then build another
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one. this is more sophisticated. when they make it look more like a u.s. carrier, that gives them graver-- greater confidence when they go into testing that they are actually able to hit a u.s. carrier. it's very difficult to do. it's hard technology, but china continues to advance at a breakneck pace and they are now flashing his ability. this is consistent with the pentagon report that just came out that says part of what they are trying to do is to be able to push the united states out of the western pacific and they need to be able to do that by holding at risk our aircraft carriers. dagen: joe concha, jump in. >> i would love to talk about how president biden walked away from questions after he was asked about, are you going to confront president she-- president xi jinping as far as the origins of covid given a lab leak theory was once deemed reckless conspiracy theory has gained real traction as far as where
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this virus may have come from. i'm just curious, is the president even interested in finding out where a virus came from that has killed more than 700,000 americans, millions worldwide was a politically not wise to even pursue this because he knows that it could open a rabbit hole to something they may not want to find? dagen: rebecca, did you hear joe >> yeah, i would things here, you know the biden administration policy towards china you could call it a policy towards china it's bipolar, so just do joe's point they don't want to talk about covid origins. president biden has take a tougher mocking tone towards a small portion of the american people who have for a variety of reasons chosen not to get vaccinated against covid 19. he's taken a mocking cut -- town and he won't even use that loan-- tone about xi jinping with it chinese communist party and
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ultimately the ones making the pandemic works. we will have more pandemics if we don't get to the bottom of this pandemic into the behaviors surrounding the chinese communist party and the unleashing of it. the other thing is, this administration will focus on military dimension and they won't talk about human rights. you have a commerce secretary says she still things we need greater trade with china, which is enriching people who don't view us as a competitor, the chinese communists party uses us as an enemy. we are enriching our enemy and not dealing with these hard things because it's too difficult for this administration and they are naïve in their ideals and they don't know how to deal with it here today are in over their head. dagen: biden starts pressing china and xi jinping on the origins of covid coming to our point we are talking about, what if u.s. money went to fund research into a virus that then
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went on to kill 5 million people around the globe. so, now china is goading and taunting in the united states with these mockups of carriers and the like because if we haven't been able to get tough about china killing 5 million people around the globe and 700,000 americans, they can get away with anything, certainly under this president, rebecca. >> that is true and the other thing also even if we got to the bottom of what was actually going on in that lab or how much dr. fauci was involved, i mean, that's the other thing creating the data in the american people and they don't trust this administration because they won't even talk about dr. fauci's involvement, so there's not trust their, but even if we handle that problem there are still all kinds of behavior from the chinese communist party and these scientists, the woman blowing the whistle on what was going on inside of china has been arrested and it has not been able to be
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seen. this is what happens when you try to reveal what's going on in the chinese communist party so there is plenty of questions that are left unanswered about why the chinese communist party behaved in a way to maximize the spread of this deadly disease across the world. dagen: let me correct myself, 755,000 dead americans and almost-- in terms of the vilification of the unvaccinated , it's all a ruse. there's almost one 100% of people in this country over the age of 65 have gotten one shot and more than 80% of people over the age of 18 have gotten one shot, so it's only-- it's a theater. it's a theater of fear to get people to fall in line and to allow this administration to talk about the virus rather than talking about one failure after another after another and then literally putting the hammer down on
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hard-working americans, whether it's trying to enforce some vaccine mandate, but then rising prices. that's on this administration all day long. rebecca, thank you for being here so early this morning talking about china. always a pleasure. >> thank you. dagen: rebecah heinrichs. coming up, fighting a worker shortage and what companies are doing to get people in the door. don't miss out on foxbusiness prime time tonight our own at cheryl house american dream home at 8:00 p.m. eastern. new episodes followed by mansion global with casey mcdonnell at 9:00 p.m. you don't want to miss a moment of those two ladies. you are watching "mornings with maria" live on foxbusiness. ♪♪
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so, you get it all, without trade-offs. unconventional thinking, it's better for business. ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ dagen: the coronavirus pandemic creating the highest unemployment rate since the great depression and according to u.s. bureau of labor statistics 4.3 million americans left at their job in august. companies seeking to fill positions as more and more people returned to work and joining out
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america's career coach and from paycheck to perfect kenneth coleman. you talk about this new book saying companies are in a bidding war for talent. how much are they paying >> turns out a lot more. wages are up almost 5% over last year and what's really happening is that companies are doing more than just pay at there is a local story i heard about job fair local company offering $100 signing bonus and no one showed up because amazon local international was offering in a course around the country, 3000 $a bonus. "wall street journal" just published an article over the weekend with the headline saying it all, help really wanted to but they are doing is companies are no longer requiring education. a day are no longer requiring experience and background checks. companies are trying to find a talent and so this means it's a tremendous time for the
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american worker to level up to do something that they have always wanted to do, not just chase a paycheck and that's what we talk about in the book. paycheck yes, we want a fatter paycheck, but people want more meaning and that's one of the big revelations we have seen this year coming out of covid. it's really a interesting time. i think it's an arms race to for companies to try to get talent. dagen: but, when that small businesses will have trouble-- a race they will have a-- have trouble running and certainly winning. joel shuman is here. joel, jumping. >> good morning. to what extent can technology help, you know help automate or you know machine learning or ai we also have 75 million baby boomers retiring over the next years and we have some technology that enables outsourcing to remote areas, so to what extent will this help these companies are getting their margins squeezed, maybe try to
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postpone this issue or help mitigate some of the major problems they have a neck that's a good point. you are going to see small businesses have to figure out what is automation look like, what is the cost of labor versus technology and how will that change the way they do things. for instance, i think you will see a trend with the traditional dying inexperience, it's not four or five star, you will see that quick serve, fast food model come to traditional chains and even smaller restaurants where take-out becomes the order of the day. we will really see a crunch between what is the high touch service, the human element versus automation. i think you bring up a good point. we will see a very interesting shift. you brought up baby boomers and i think it's an interesting point. some of them will retire from maybe their longtime career, but there will be opportunities to move
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into second careers because of that human element. once this all shakes out, business owners a specifically small business owners will win. they will beat the amazons locally with high touch service and that's where experience in the human touch will come in a. dagen: before we go, macy's is raising its hourly wage to $15 an hour adding an education benefit covering one 100% of college tuition, books and fees to your tell us more about the incentive companies are offering >> i'm glad you brought that up. we are seeing big companies like macy's, target, walmart offering full tuition, so this right now is a ^-caret. it's going to change the way businesses have to recruit talent. no longer will people join just for a paycheck or for really nice 4 o 1 k matching program. specifically millennial's which are the number one demographic in the workforce. you will have to show them a ladder to where their life gets better as a result for working for you, not just a
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better paycheck. they want to see flexibility, benefits and the wages, but they want opportunities to grow. so, this is going to be the new way for businesses to recruit and keep talent. dagen: can, thank you for being here so early this morning. we will see you again soon. coming up, so many sides and not enough room on your plate as we look at the most disliked thanksgiving foods next in the hot topic buzz in the morning. specie wow... that's so nice! the gift of ancestry®... is a walk through your history. do you remember who this is? where the more you discover... wow! ...the more you come together.
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independence with peace of mind. call... to receive fifty percent off installation. and take advantage of our special offer no payments for eighteen months. dagen: time for the hot topic morning buzz. people will soon gather around the dinner table to celebrate thanksgiving, but not everyone will be excited about all of the dishes on the table.
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according to a new survey from instacart and the harris poll you can skip the candied em as they were named in the worst thanksgiving side dish and also making the list, green bean casserole, cranberry sauce, sweet potato casserole and a staffing. joe, what is wrong with people that they would have the audacity to say that these dishes are not good? >> the candied em is kind of like spam. i'm not a fan, myself. i just made that up here that was organic, those rhymes, i know you love it, but we come from different parts of the country. my sister-in-law who may or may not be watching, she makes the best thanksgiving meal. i had the shakes from withdraw not being able to go last year end she goes with lamb and makes this wonderful lamb in addition to the turkey i think that is great, but for cranberry sauce to be on that list of what we don't like is like the ones of year thing that you can have and never have it again until the following november.
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i'm surprised. dagen: joel, even the cranberry sauce in the can with the ridges of the can on the outside is delicious, so you have to have that if you are going to eat leftovers and eat a mashed potato stuffing turkey sandwich, you need to slice that cranberry sauce. [laughter] >> precisely. staffing? 12% of people don't like stuffing that's a one severe thing in my household and it lasts for christmas we have a semi left. dagen: joel, what you say? >> in my household, with the turkey is sometimes overcooked by about one or two hours. it was my job to cut the turkey and it couldn't really cut the slices. it was kind of like the crumbs just falling off as it was so dry. kinda made the top of the list. also, chopped liver from my house.
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dagen: is like the turkey and christmas vacation where it's so overcooked where clark sticks the knife in it and it just is like some weird air coming out and they are trying to eat it. never gets old. looking ahead to 2022 with rate hikes, with the word on wall street coming up. it all starts next hour on "mornings with maria" ♪♪
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which saved investors over $1.5 billion last year. that's decision tech. only from fidelity. dagen: good morning, i'm dagen mcdowell, maria bartiromo will be joining us later this morning. it's tuesday november 9th, your top stories at 7:00 a.m. eastern. inflation expectations surge to go record highs. americans bracing for my price hikes from the grocery store to the gas station and possible replacement for jay powell. federal reserve governor brayanr interviewed by president biden for the top job.
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james bullard told maria about the potential reappointment. >> we have a lot of experienced players on the committee and we have excellent staff across the federal reserve system. i'd expect a lot of continuity in policy no matter how this appointment process works out in the months ahead. dagen: this as federal reserve randal announces plans to resign at the end of the year giving biden another seat to fill making it four. taking a look at markets, futures searching for direction. 22 point loss. all three market gages closing at record high. marking the longest streak in more than 24 years. european markets are edging to the plus side as well. gains in england, france and germany, in asia overnight markets mostly higher as well. japan worst performer down 3
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quarters of 1%. nikkei. mornings with maria live right now. top stories we are following this morning federal appeals court putting temporary block on president biden's vaccine mandate but the white house says we are doing it anyway. cheryl casone joins us now with the details. cheryl: that is right, dagen, good morning again. so the battle is beginning over the biden administration's vaccine mandate. new the new rules workers and companies with 100 more employees or more are required to get the shot or get tested every week but the federal acourt put block and the white house is telling businesses to move forward with the mandate anyway basically ignoring the court's ruling. well, a cyber breach exposing the data of millions of robinhood users. trading app saying last wednesday a hacker was able to gain access to its systems but
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impersonating an authorized party to customer support employee, e-mail addresses for 500 million robinhood users were exposed. no social security numbers, bank account numbers or debit card numbers were exposed luckily, but still, stock is down 3 and a quarter percent. they say the hackers demanded extortion payment. law enforcement is working on this case. well, the u.s. finally lifting international travel shuts after 18 months of shutdown. passenger wills have to show proof of vaccination and negative test in order to board the plane. there's the video. both bound to the united states. airlines have the grapple with enforcing vaccination requirements or face 35,000-dollar fine per violation, dagen. those are some of your headlines from here. dagen: thank you so much, cheryl, we will see you at the
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bo testimony of the hour. time for the word on wall street. top investors watching your money. portfolio wealth advisers and chief investment officer lee and er shares joel shulman and chairman denise garthman. gentlemen, what a pleasure to see you all this morning, jeol, let me start with you, futures are mixed this morning as we wait for the key inflation number for wholesale prices for october out at 8:30 a.m. eastern time. st. louis federal reserve james bullard joined maria to talk latest on inflation and raising rates, watch this. >> as you know i move my rate hikes into 2022 last summer and now i've got two rate hikes in 2022, so by conventional wisdom, we have to complete the taper before we start the normalization of the policy rate. dagen: this comes as we wait to see whether biden renominates
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jay powell for his position as fed chief. maria bartiromo reported two weeks ago that several sources are telling her powell would not be reappointed. something i predicted would happen weeks ago. federal reserve governor randy quarrels announcing he would resign, biden now has four open positions to fill. joel, what do you make of all of this? >> well, the fed signaled that they have not going to raise rates until we have full employment. what does that mean? we had full employment back in the reagan administration -- i mean, during the trump administration when we had unemployment rates 4.1, 3.1 and 3.8%. we have now unemployment north of 4.8% and even though it's less than what has traditionally been over the last years, it's still 1, 1 and a half percent of what we had in 2019. if we do have a rate hike and we
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probably will see it very soon and when i say soon, i mean, mid to next year, mid to the late next year because we have negative real interest rates, the negative interest -- real interest rate imflies because inflations are around 5% or more and the current rate is around 0, the real rate is negative 5% plus and we haven't had this in many, many years it's traditionally 2 to 3%. no administration can maintain negative interest rates long term and we see japan and china have real positive real interest rates but there aren't many other countries around the world that are positive. they are almost all negative. at some point the rate has to rise because otherwise we will be losing money to the inflation. dagen: how does the stock market react to it? it's nothing that we've really ever seen in terms of the amount
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of fiscal and monetary stimulus. i can't imagine it ends well. >> well, i mean, in the short-term what we have seen is actually ironically a shift towards risk capital so we have seen crypto is going up and, you know, in record highs we are seeing gross stocks, sire growth stocks performing really well. what we are seeing because they are delaying the rate hikes, we are seeing the markets respond positively but at some point when the rates start going back up, we will see probably the markets, you know, suffer in some of the areas that have been inflated are going to have a tough time to recover and we saw this by the way in march, late february, mid to late february, march, april, many high-growth areas were hit hard. dagen: right. denise, inflation, gold, gold hitting a two-month peak yesterday. prices at 18.24 an ounce, your thoughts on gold? >> it's been a bear market for 2
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years but a bull market over a decade. i'm much more bullish of gold than i am of bitcoin. anybody else -- everybody knows that i've been antagonistic toward bitcoin for a long period of time. gold has proven itself over the centuries. i'm not a gold bug. there are times when we want us to be neutral of gold. gold is technically breaking to the upside. 18 and a quarter is important. it gets interesting above 15.50. i'm bullish. i'm not a gold bug. there are times where you're supposed to be long and times where you're supposed to be short and i think this time you're supposed to be long. it's been centuries in the making and it's been a bear market for two years and the bear market that we have had for two years is ending as we are speaking this morning. dagen: in the a gold bugs, gold bugs are long forever pretty much. have it buried in the backyard. i joke. lee, general electric announcing that it's going to break up into
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three separate publicly traded company focusing on growth sect, aviation and energy. this is truly the end to the house that jack welch built that maybe only he could run, your reaction to this move by ge? >> well, i think -- it puts the icing on the cake of 20 years of ge bringing permanent loss of capital to their shareholders. jack welch may have built this thing but built it over financial engineering and over half of the company was destroyed because of the house that he built. the only thing that makes money but we have to remember that 2017 acquisition of baker hughes was a stock. i was in new mexico, so we live in oil country and it was a joke. they don't know the culture, they don't know how to run it. the only interesting that i like is not they are going to pull the trigger and do something
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nice for shareholders, they will split off aviation which might have a chance to live some day but i think baker hughes is a disaster. when the spin ahs happens, the good kid, health care rockets up and the bad kid, the left for dead baker hughes no culture there is going to get sold off for so cheap that you might be able to make some money on it in the same way like garthman said, when gold is in a bear market for years, you want to buy it because it's going to go higher you wanted to trade it, i would say look at the blown-up baker hughes as possibly a value play or i'm so delighted for the people that work at ge because so many own that stock and have been punished for decades based off the financial engineering. dagen: you're leaving out two
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words, lee, jeff emelt who came after jack -- [laughter] dagen: talk about jeff who came after jack welch retire and his unmodel was let's unjack ge. that's where the value destruction, it's under that dude. lee, we have to go. i just had to point that out. lee munson, denise garthman, great to see, gentlemen. joel shulman you sit right there. michigan congresswoman debbi dingell about the recent red wave and what it means for democrats in 2022 plus steve mnuchin joins maria to talk about the future of the fed. also investing in crypto, we will tell you the tips and tricks to putting your money into crypto currency and joining
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the conversation all morning long joel shulman and joe concha. you never know what you is going to stay. you're watching mornings with maria on fox business. ♪ ♪ ♪ we don't have that. schwab. a modern approach to wealth management.
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an official message from medicare. did you try it yet? comparing plans? oh yeah. they sure can change year to year. i found lower premiums and lower prescription costs. that'll save you money. so uh, mark? on medicare.gov now. open enrollment ends december 7th use the plan finder at medicare.gov to compare medicare health and prescription plans. comparing plans really pays. paid for by the u.s. department of health & human services
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moving is a handful. paid for by the no kidding! fortunately, xfinity makes moving easy. easy? -easy? switch your xfinity services to your new address online in about a minute. that was easy. i know, right? and even save with special offers just for movers. really? yep! so while you handle that, you can keep your internet and all those shows you love, and save money while you're at it with special offers just for movers at xfinity.com/moving. dagen: president biden's priorities are at odds with americans. 58% believe that biden has not paid attention to the nation's most important problems. according to the poll the
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economy is the most important issue followed by the pandemic, immigration, climate change and national security. these new polls numbers come as biden's approval rating continues to sink. 48% of americans approve of his job as president. 52% disapprove. joe, what do you make of this? he used to be guided by polls. seems like this administration doesn't care, seems like they are going to do to destroy the american way of life. joe: because they are beholding, dagen, to the wing and basically run policy decisions on twitter. those numbers are very generous by the way by cnn poll. 6, 7, points ahead. no one has dropped more than any other president since world war ii. and the reasons are tenfelled
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and we have talked about it on the show. high i nation, out of control spending, worker shortage, exploding gas prices, violent crime, u.s.-border crisis, paying those who enter the country illegally, hundreds of americans left behind in afghanistan, democrats seen as the antiparty on the education front and joe biden and his administration not just the president don't have the competency or the focus to run the government effectively. i will leave you with this last poll number because i found from usa today, nearly two-thirds of americans, dagen, 64% say they don't want the president to run for a second term in 2024. he will be in his 80's at that point and kamala harris is currently polling at 28% so there goes plan b, so you're going to be hearing a lot more about pete buttigieg in the next two years because donors are eyeing him to be the new mexico knee and not the current president or vice president. dagen: voters are crying uncle and it's not uncle joe.
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joel. [laughter] >> joel: i couldn't agree more with joe. as he pointed out, the 48% is probably very generous. the economy and the continued spending for infrastructure is getting out of hand particularly when we had inflation. he mentioned the supply shock issues and so forth, i mean, we also have to worry about the defense and particularly, you know, what's going to happen with china and taiwan. taiwan has most of the world semiconductors. we are critically dependent on the semiconductors and what's going to happen. when we talk about we don't have a plan b, what's the plan b for semiconductors if all of a sudden taiwan is no longer independent and we really have to worry about some of the big issues. so i agree with them. there are a lot of issues on the table here, things could have been handled much differently and inflation that has to be taken -- put under control and we've got major issues here particularly with economy that's the number 1 issue and i
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couldn't agree more. dagen: great insight both of you, gentlemen. coming up staying home for the holidays. high prices at the pump may be keeping people off the road this holiday season. we will tell you more this hour. plus is one buck pizza a thing in the past. new york city's sidewalk slicer are going up in price. we will tell you how much. you don't want to miss it. ♪ ♪ ♪
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dagen: cnn ryan facing backlash over asking pete buttigieg racism built in our roadways in white house briefing. >> the construct of how you will deconstruct the racism that was built in the roadway. >> i'm still surprised that people were surprised when i pointed to the fact that if a highway was built for the
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purpose of dividing a white and a black neighborhood or if an underpass was constructed such that a bus carrying mostly black and puerto rican kids or would have been in new york was designed too low for it to pass by, that obviously reflects racism that went to design choices. i don't have anything to lose by confronting the simple reality. dagen: ryan's question becoming hot topic on social media. the roads are racists, we must get rid of the roads. joining me right now former omb director russ. >> russ, i don't know -- i'm not going to say anything. just your reaction to that exchange? >> yeah, it was a stunning exchange. number 1, you only hear the same example that people have been using since 1920 and 1930's of
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robert moses and the bridges and we never hear anything recent and i think the reporter herself got to the radicalness of the agenda. when you can say that any road or bridge is racist, you now have an incredible leverage point to reconstruct the entire communities on the basis of power and that is something that should be incredibly scary to communities across the country. this is not just an infrastructure bill. this is a desired outcome to be able to reconstruct communities and to assert that roads and bridges are fundmentally flawed because they were designed in the basis of racist choices. dagen: joe concha, jump in here, he raises the master built moses and he allegedly here in new york city ordered that bridges be built low enough to discourage travel to and from
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long island beaches. that being said, i think about what is -- what hurts lower income americans, what hurts black americans, latino americans living in cities is the poor public transit. and so that is a problem in the most liberal cities in the nation. here in new york city the subway is an oh bam nation and hardship for people in the outer borough who is have to commute to work. so people who find racist in everything, choose to overlook that and the horrible conditions in san francisco and the poor infrastructure there but just jump in here with russ, joe. >> well, i will actually quote bill mahr who is at odd.
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he had a good line on hbo. the problem with our country while china is building new bridges, we are thinking about what to rename them. in this situation, i just don't understand where the transportation secretary is going with this. so are we going to now deconstruct bridges, say in new york city where traffic, i'm 20 miles out here in jersey and during rush hour it takes me two hours to get into the city. what are we going to deconstruct exactly. are we going to start with the george washington bridge or the brooklyn bridge or the overpass and if nice to say if you're going to appeal to the woke crowd. by the way, april ryan who asked that question, i'm old enough to remember when she actually agreed to host a fundraising event for pete buttigieg when he was a 2020 presidential candidate. reporters aren't supposed to be doing that and only after she got caught did she say, oi didn't know it was a campaign event.
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that's where we stand here. the transportation secretary, dagen, and pete buttigieg should be asked about crisis and have you visited one port, one in long beach, new york, savannah and new jersey, of course, you haven't because that's your job right now and not to be talking about this sort of rhetoric which can never actually be a reality unless we are spending trillions on construct and deconstructing bridges and overpasses in the country. dagen: russ you hit on something that this effort, using racism to reconfigure or reconstruct communities, this opens the door for the money grab, the one -- over 1 trillion-dollar infrastructure plan. there are literally tens of billions of dollars in this thing that just like -- that's what's at play here because money equals the power that politicians crave somitedly.
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>> no question. yesterday's interview was revealing. pete buttigieg saying they need to construct a formula to allow them to distribute 40% to privileged communities on their definition of underserved communities which is a woke definition. that's where i get the notion that this is designed to reconstruct on the basis of power politics and this is something that -- the other aspect is -- the reporter mentioned that she's oppose today widening of roads. well, if widening roads is what will leave you to a per se definition of racism, we have a real problem now in terms of what actual infrastructure is. are we able going to do roads and bridges. maybe that explains why roads and bridges is such a small percentage to have package. it gets to the fundamentals of what this administration's agenda is. dagen: it does. i'm sorry, i didn't hear that last part that you were saying. you were saying it gets to the
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fundamentals of what this administration is doing. what is that before we go? >> yeah, very simply that an infrastructure package that only has about 10% for roads and bridges, it gets -- if you dig deeper it's because animated by this woke agenda that doesn't really want to do roads and bridges. it wants to do do something else. it wants to reconstruct communities. dagen: russ vought, always a pleasure, sir, thank you. coming up drama in dc alexandria ocasio-cortez defending decision to vote against the majority of her party on the $1.3 trillion infrastructure bill. we break that down next. plus the price of pizza, you will never guess how much it is for one slice of pizza in the big apple. we will tell you live on mornings with maria coming up.
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cheryl: welcome back, i'm cheryl casone, some of the top stories
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we are following. pfizer reportedly seeking authorization for covid-19 vaccine booster shots and the request could come as soon as this week. pfizer in the premarket down more than a quarter of a percent. fda has already approved boosters for the majority of adults including people who are 65 or older and those that are at risk of severe covid symptoms with weaken immune systems we should say here. remington firearms announcing plans to relocate and new factory in georgiament gun maker is moving from upstate new york to lagrange, georgia, 70 miles outside of atlanta. the company planning to hire 850 people over the next 5 years. well, a new survey shows americans are willing to take on more debt this year to make sure it's a very merry christmas for themselves. according to credit cards.com, 48% of the shoppers are to spend extra to make themselves happy
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first, then spend on kids, friends and family and 50% of gift givers plan to add more. this morning the spacex 2 crew dragon splashing down in the gulf of mexico. four astronauts including two americans waving and giving a thumbs up after landing safely. the crew spent half a year. the group was wheeled out to give them time to adjust to earth's gravity. back over to you. dagen: thank you so much, cheryl. congress passing the infrastructure bill on friday but democrats could not get the squad on board. congresswoman alexandria ocasio-cortez says that she fears now that they passed the bipartisan package, democrats won't get what they want and their massive spending bill. she wrote in a letter to her constituents yesterday, quote, the president and house leadership has promised that build back better will still pass. we hope they are right but how
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much of the bill survives now that we have given away so much leverage is the question. joining me now michigan congresswoman debbie dingle and member of energy and congress committee, cochair of the democratic policy and communications committee. congresswoman, always a pleasure. so what do you make of your fellow congresswoman alexandria ocasio-cortez's comments there? congresswoman: well, good morning, dagen, always good to see you. the group of member that is didn't vote for the infrastructure bill have had concerns for months that if a vote occurred on one bill that other issues that they care are very much about that are in the build back better bill might not be considered. they made their decision to send a message that we needed both bills, that's how they sent the message and i respect all of my colleagues, republicans and dems. a lot of republicans didn't vote for this bill that are still
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very excited that the money is going to be spent on roads and bridges in their districts and i will make you a bet right now, they will go out and take credit for the federal dollars when that money is being used to fix roads in their districts. dagen: were you surprised on how many republicans got on board with it? congresswoman: i was not because i talked to them a lot. i'm somebody that works with every member of congress. i respect them, i listen to them. i hear the perspectives. i knew that this was hard, it was very hard for them, their leadership was asking not to vote for it. maybe breaking a few arms because they didn't want to give president biden a win and these were, you know, we have to find a way to bring ourselves together. these were republicans that wanted to vote for their districts and there are many, many things that every member of congress needs for their districts, every american is going to benefit from the bill that was passed friday night. dagen: well, i think there's some people who would beg to
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differ with that. congresswoman: roads and bridges and supply chain becoming more resilient, water pipes. dagen: congresswoman, roughly 10% of the bill goes to roads and bridges. it's the other 90% where there's an editorial in the wall street journal that just goes into the issues with it and i will quote out of it, concerns would be out of control, costs-blown deadlines and real and metaphorically bridges to nowhere, this is a heavy lift to government, all the way down to state and local to allocate this money in a way that actually produces results. bigger picture, are you worried, though, about inflation with -- congress has already passed more than $3 trillion of spending just this year on top of the trillions last year and so if you're talking about inflation being a primary concern of your
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constituents and people across the country, how can you justify spending trillions of dollars more only making the problem worse for working men and women? congresswoman: dagen, i want to ask you questions in two ways. yesterday morning i told my staff, i want accounting of every dollar that's coming to michigan that's from the bill and how is it going to come in, is it going to go through an agency, a grand, go into allocation to the state and i'm setting up a tracker and i want to know how every dollar is spent and how people in my district get those dollars and how to be used and every member needs to be that detailed and paying attention to it. i agree with that part. am i worried about inflation, yes, we are seeing inflation right now but i've talked to a lot of economists and moodies put out a new study and they believe that things in this bill will address it. you were talking about the secretary of transportation and the logistics, well, this is
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going to help fix our logistics. the fact of the matter is spending patterns have changed in the last year so services or gyms or restaurants put into goods. we have a shortage of goods. we have people that aren't in the workforce because they can't get child care or long-term care. when we get people having access to care and paying the decent wage and people can go back to the jobs that are open, we will be producing house goods. by the way -- dagen: congresswoman -- >> yeah. dagen: it's a political animal more so now than ever even coming on this program mark using the terms human infrastructure which is a political talking point and has no real economic meaning, but you could argue on the flip side if you pay -- if you give people money for child care with the increased child allowance and there's no work requirement,
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they could take the money and, you know, sit at home with the child allowance. if you give them -- >> congresswoman: first of all, it's going to be built into this now. these rules and regulations have to be put out, but that money is meant for real child care, people looking for a job and having jobs and we've got to -- look, there are -- we have to make sure without you even saying to me on fox this morning i said to my staff, tracking every one of they will and want to know how it's happening and how it's going to be spent because if you're in michigan, this is the story from saturday. i got home and i got out of my car and fell on pothole and i said to people, this is what we are going to fix, our roads are in terrible shape and in michigan, we've got lead, we had flint and now bent and harbor and that's happening across the country. 50% of the children whose blood has been tested to pediatrics
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trauma has lead in their blood. we have to get this done. there are things i don't like in this infrastructure. dagen: congresswoman, i would argue, and by the way with the child care issue, i've seen the more money the government funnels into an industry whether it's college or even the housing markets through subsidized mortgages, it just raises the prices. so it's -- it's corporate welfare, if you will, and that's one of the concerns about funneling money into the child care industry. that being said, but of the billions of upon billions of dollars that have been allocated to the states, are you actually saying that the states don't have enough money to fix a pothole and i hope that you're okay, potholes are a problem everywhere? but like the fed -- the amount of money coming in to the federal government was at a record in the most recent fiscal year. there's plenty of money to go around in terms of you don't need to allocate another
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4 trillion, 4 this will dollars plus. >> you know, our governor ran 3 years on platform to fix the damn roads. i was standing in pothole that is came up to here on me. we have a problem and we are trying to get the problem out there but it's a problem across the country. you know how unsafe the bridges are that we have? by the way, like it or not, we are starting to move to electric vehicles and we've got to build a charging infrastructure across this country and that's something else that's got to be done. dagen: i can argue -- excuse me, discuss with you electric vehicles. congresswoman: you can have discussions. dagen: and charging stations and the federal government -- taxpayer money going to build what we didn't build as taxpayers in terms of the network of gasoline stations across the nation, but you passed the infrastructure bill
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now comes whatever in addition. >> build back better. dagen: we will see. good luck, congresswoman arguing to the people across the country that we need at $4 trillion when people are really struggling to buy groceries and fill up the cars. >> it's not another 4 trillion. the second billion is not 4 trillion, it's gone down 3.5 to approximately 1.75, 1.8. we will see what the cbo scores it out. dagen: we will see how big it gets. how about that? debbi dingell, congresswoman from the fine state of michigan. i was in detroit recently and it was fabulous. congresswoman: great. call me when you're here next time. dagen: i love the people of michigan, it's the hub and manufacturing greaseness. congresswoman: have a good day. dagen: soaring gas prices show nothing signs of slowing down. we take you to one station where the price for a regular gallon
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of gasoline is on near 5 bucks a gallon and don't forget to tune into fox business prime time tonight, american dream home with cheryl casone start at 8:0y manchin global with casey mcdonald and at 9:00 you're watching mornings with maria live on fox business. ♪ ♪ ♪
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dagen: prices at the pump draining the lives of americans across the country even
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deterring travel plans thanks to biden's energy crisis. madison. reporter: hey, dagen. i'm at this mobile station in new york city and as you can see behind me for regular gas, they are charging 4.99, just under $5 for the regular. this is not the obligation where americans are seeing a sticker shock. prices are up across the u.s. let's take a look at the average price of gas today. today across america you're going to be paying an average of 3:42 per gallon, that is up over 60% from a year ago. energy secretary jennifer saying sunday that she hopes gas prices won't reach $4 a gallon but two states, california and hawaii have already surpassed that grim milestone with opec rebuffing the biden administration's push to increase production and lower prices, former energy secretary rick perry told fox business he sees the problem gets worse
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before it gets better. >> the price of gasoline, we haven't even seen it starting to up. i made the estimation a couple of days ago that 100-dollar-barrel crude oil in six months out of the realm of possibility at all. >> okay. so right now a barrel of crude oil sits at $83, so we will have to see if that happens and this is impacting americans right ahead of this busy holiday travel season, according to recent survey, 52% of americans say that they are going to reduce their travel, 53% say that they are going to make that travel shorter, dagen, because of the increase in gas prices. dagen: madison thank you so much. i know that gas station well. madison alworth, the only ones left in manhattan. joe, in relation to what i was talking with congresswoman
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dingel with inflation where it is, i don't know how anyone in congress could justify spending additional $4 trillion and 4 trillion when you take out the gimmicks and the accounting shenanigans. it's $4 trillion on top of the roughly, it was 5 trillion and then another 3 -- north of 3 trillion this year. when you've got inflation skyrocketing, how can you not put your foot down about this garbage tactic energy policy out of the administration and also put your foot down to additional spending, concha? joe: remember, dagen, we are also talking about the trillion plus that was first passed under president trump and that administration and that congress and senate when the pandemic first began. that money still hasn't been fully spent yet we keep saying, okay, we need this other bill, this other bill but we are not saying it, the biden administration is saying it and the far-left wing of the democratic party.
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look, i'm not an economist by any stretch but i did take econ 101, i'm pretty sure that if you print more money and flood it the inflation will go up and we are at 30-year core high now and if the bill passes, what will do that? meanwhile you have the energy secretary on bloomberg, i think it was tom king interviewing her and she laughs at the question of what are you going to do about this and she has no answer and that's the problem with this administration, the perception in general. they don't have basic answers to basic questions on how you are going to solve the problem. they seem to be in these positions more for the vanity and celebrity of it than actually doing their job. dagen: is it too much to ask for the energy secretary to actually understand how the energy sector works and is it too much to ask for a secretary in biden administration to actually give a flying you know what about the hardships that everyday americans are facing? is it too much to ask for some
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empathy? coming up inflation hitting a new york city staple. dollar pizza, the sticker shock when we come back. ♪ ♪ ♪
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america's leading plumbing brand. we need this bath. yes. yes you do. a kohler walk-in bath provides independence with peace of mind. call... to receive fifty percent off installation. and take advantage of our special offer no payments for eighteen months. the city is famously known for many things but pizza one dollar pizza is one of them and some thrifty tourists love it as well as new yorker. one buck for a slice, a tweet from the new york post showing prices are up at least 50 cents. inflation impacting every ingredient required to make one delicious slice of new york city pizza. joe, what do you make of this? joe: it's so sad. i'm old enough to remember when
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in high school i could have a saturday night with just 5 bucks, 4 to give the guy who illegally got the keg to the party right out of john hughes film and go to brother brunos in jersey and get slice for a buck. now those days are well over, particularly in new york city where the dollar slice on the run was a great thing and even if you have to pay 1.50, $2 the principle of it is the point. you can't get anything for a dollar for food particularly in new york and sad day for those who can't afford it, low and middle-class and this will be the most expensive thanksgiving, dagen. dagen: but it was right near -- you can actually pull your car over if you were getting in the lincoln tunnel and get a slice. >> i know the place. dagen: it's not there.
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joel, final word to you, real quick. >> i grew up in new york, it was cheaper than a dollar. 1.50 would be priced really high. when i go to new york i'm happy to pay it. it's sad to see the 1 dollar pizza go away but 1.50 still okay. dagen: detroit pizza is delicious, this weird lasagna l. ? mmmm... and our son just started working. oh! do you offer a complimentary retirement plan for him? as in free? just like schwab. schwab! look forward to planning with schwab. growing up in a little red house,
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. maria: good morning. i'm dagen mcdowell a maria bartiromo will be here in moments tuesday, november 9 top stories 8:00 a.m. eastern. losing the focus on what is important, a new cnn poll shows more than half americans say president biden is not paying attention to the most important issues facing o
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most pressing problem we have. we get into it all morning long. a look at markets, futures are mixed at the moment s&p 500 futures now lower as well. taking a look at inflation, story, later, bottom of the hour producer price index out for october, in 30 minutes' time, all three major market gauges closing at all-time highs yesterday market reacting to passage of that 1.2 trillion-dollar infrastructure package-european markets are in the green this tuesday gains -- well -- 5100 the moment gains in france and germany, in asia overnight, markets moving fractionallymost plus side "mornings with maria" live right now. . . >> top stories we are following this morning a federal appeals court putting temporary block on president biden vaccine mandate but white house says do it anyway! cheryl casone joins us with the details. cheryl: well said dagen good
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morning again, so the battle is beginning over biden administration vaccine mandate, under new rules workers with companies 100 employees or more required to get the shot or test weekly federal appeals court put a temporary block on that mandate over the weekend a drawingire from administration white house telling businesses move forward, ignoring court's ruling biden administration considering pulling plug on pipeline as energy costs soaring peter doocy -- holding white house press secretary feet to the fire yesterday. >> why did administration now considering, shukt down line 5 pipeline from canada to michigan? >> so peter that is inaccurate, that is not that is not right. >> is it being studied right now the administration
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studying the impact of shutting down line 5. >> yes. yes, we are. maria: line 5 pipeline from canada through michigan to reports 550,000 barrels crude oil petroleum products every day, shutting it off can cause rights at the pump to go even higher, we are already paying levels of we haven't seen since 2014 key new york swear showing americans alarm over inflation priming for 12th consecutive month, maria asked st. louis federal reserve bank president bullard about inflation. >> the story inflation is going to be transitory i guess people are not liking that word anymore, so quit using it but that inflation is going to moderate significantly we got to watch data see if that happens we've got quite a bit inflation here you are guests i am sure talking about talk over 4% probably on core pc
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inflatio this year -- >> we're getting inflation 8:30 meanwhile federal reserve governor randal quarles announcing going to resign end of the year this gives president biden up to four seats to fill on central bank seven member board, as maria has been reporting, jay powell's future as fed chair growing more uncertain several sources telling her should he do not expect him feedback renominated report brainard, with president biden last week wildly viewed as top pick if powell is. >> bottom of the hour for producer prices go to maria bartiromo, maria. maria: thank you so much, laryngitis, liberty strategic
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capital, by former treasury secretary craft security to invest 110 million dollars into the company and -- in financing, this move second investment since founding this year second time vested in cybersecurity sector joining me former treasure secretary himself, ceo of contract security great to see you both thank you so much for being here. >> good morning thank you, maria for having us. >> yes inflations to you, what an incredible investment, treasury so happy to have you back why such an important investment for you?
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>>. >> 110 million dollars investment with -- the firm leading this tell me what you are going to do with known a excited about having, liberty strategic, investors contract securities, what we will do like many firms use this money capital to invest in the company specifically build products can be used around the world, help write secure codes protect code from cyberattacks expect that to expand products services around the globe in mission to make sure all software is secure. >> to a tell me about software and vulnerability in terms of hacks i was surprised at vulnerability we see every day in terms of -- >> quite shocking, in fact, people in industry if we had same standard that airplanes
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in other words, you can't take off unless all warning indicators lights are off you probably would never fly the a plane called software, software is complex thing, roughly 50 software quickly some areas are vulnerable to contract contractors shape started to stop that help security teams quickly write software but securely. maria: what runway do you see? i know that this is a must for corporations to protect their data but tell me the runway, the next five years. >> yeah, i think, this gives a runway to expand globally one
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of the things that you noted i know only the show, many of the cybersecurity companies next generation have really used capital to their advantage to build out their product type, contractors doing same building our platform we think this gives several years to operate as a private company get to be really strong, broad set of products support customers globally use that to build a successful large public company, these things take time we are very excited about the mission that we are on. maria: i want your take on comprehensive landscape because i know this ise, are anr companies who are trying to do the same let me -- bring steve back in secretary your second investment in cybertalk why this is so important to you as an investor. >> well great to be with you, i think cyber is signing most important strategic risk to
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both business and governments. contrast is a company that controls the application security protects the programs, complements our previous investment in cyberwe
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growth where you expect allocated cap a your company going forward i know you focused on cyber, but you are also looking at other areas of technology. >> we are, so within cyberwe will continue to look at other areas, focused on infrastructure, we are focused on protection then also focused on fintech, cross orders we think there is a lot of interest in areas that continue to explore. maria: digital with digital innovations going on, assess the competitive landscape for
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contrast, there are other firms trying to do what you are doing. >> someone famous said if you are in the market with no competition, you are probably in the wrong market, so there are several people that are trying to secure code throughout the software development life cycleings one set of tools formed written 10 year up to challenge of securing code that has extensive use of open source rapidly deployed, there is also people that are trying to do some manuel testing you think that doesn't scale the cs customers said we can use the platform and automate testing get the vulnerabilities out of the software before it ships. >> incredibly exciting i know major growth story congratulations, secretary want to get your take on news of the day a tough 10 months
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you have seen economic policy completely 360 from what you oversaw now we just learned today progressives may want to take down powell -- brainard interviewed for federal reserve chairman seat you encouraged president trump to put anymore there what is your reaction if jay powell does not get appointed what kind of impact might that have. >> i am obviously, very supportive of chair powell i think has done a fantastic job a leading the fed we worked very closely with him last year, during the worst parts of the exacerbated where we have unprecedented treasury response again we have to put this all in perspective. before pandemic we had 22 trillion dollars of debt, 22 trillion dollars gdp we passed four trillion dollars on you a superbipartisan basis two bills 96 to 0 and a hundred, another trillion before we
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left, i think the continued spending by the biden administration is very concerning. and you heard from bullard, we do have inflation, i am worried we will continue to have inflation. we have 29 trillion dollars of debt i think we need to put a pause button on government spending get inflation under control, thank goodness for all of the vaccines the economy has opened up. travel entertainment, crushed last year are coming back so i think time to put a pause button lets -- have fed -- >> for the first time in decades under your leadership we saw the bottom earnings see wages go up for the first time. we have seen the opposite right now we see nation, he disruptions what is your advice to this administration on the economic policies? >> well there's no question that the trump administration,
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economic policies were work being it was a combination of tax cuts regulatory relief i urge them to continue negotiating improve phase one go to phase two trade deal that will help with inflation. i would also say the exact wrong time to be raising taxes, i think, you know, now we're in a situation where we've got to get economy under control fed has done a great job lowering rates, they need to normalize, and we need to get inflation under control. maria: did you do you believe this is a progressive strategy pushing with -- the power -- >> i don't really know what is going on, i assume at the end of the day secretary alien's recommendation will care a lot of weight i know she worked o closely with powell in previous positions, the
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progressives almost blew up a bipartisan infrastructure detail again seems like the democrats are a bit divided i would say get back to business as usual. maria: great to see you i hope you come back when this comes back thank you very much congratulations on incredible investment, thank you, gentlemen good to see you bothing. >> thank you, maria. >> thank you. >>. maria: we'll be right back. .
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>> if you give us -- the construct of how you will deconstruct the racism that was built into -- >> at least 40% of the
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investments will go to benefit the communities that are overburden underserved i am still surprised trump people were surprised when i pointed to fact if highway built for purposes of dividing in neighborhood or yr pass constructed a bus caring most black and pirato riccon kids to the beach would have been in new york was designed, to a low reflects racism that went into design choices. dagen: social media a field day with this one senator ted cruz retweeting you joe concha what do you think? >> cruz retweets me a lot so apparently he is a follower, so -- there's that i get the re-tweeted by kato kaelin o.j.'s former roommate so to speak never know who is going the repeat for starters budget
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boounl ryan she plays basically a partisan activist you know, in these press briefings when she real just will tell you no, i am just an on the white house kofrpt not case she posted a fund-raise for buttigieg presidential candidate shows why he called on her not surprised by the question gofying you know what impacting minority communities most skyrocketing violent crime demore alized shrinking police forces attorney general more concerned about protecting domestic potential terrorists on educations ask buttigieg if he plans going to port in long beach, los angeles, california savannah new jersey anytime soon hundreds of ships can't get on he shelves, buttigieg talking
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about constructing dee constructing bridges overpasses where sounds like an incredible burden unless all talk and no action. dagen: what do you make of this, what is decade are they talking about? what decade are they living in because right now, the most regressive taxes, inflation, is making life difficult and lowering the standard of living, for those very people who can't afford it. >> right, i don't understand comments at all when you refer to roads being racist, i grew up in the city of detroit, from the many years grew up other side of 8 miles for those remember m&m -- motive i grew up on the other side familiar with issues what creates problems he fundamentally crime unemployment drugs so forth, many largely issues besides the roads, and so you know to
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kind of point to roads and construction of bridges that are too low, really gets around -- the much bigger issues is prior is prior discussion we had on your show talking about key problems of this administration, the economy as you point out, hurting people at low end this is really a -- dagen: mark may words vast majority of money not allocated for repairing roads and bridges will be misspent if not stolen in a political power grab, so they talk big game at the end of the day the money equals political mature nobody has say so over how tax dollars are spent, quite frankly, borrowed money. >> president biden walks away asked if he will press chinese president xi jinping on the pandemic, we get into it next. .
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president biden silent when u.s. will press china over thank you origins of the pandemic walking away a reporter candidate if he planned can go chinese president xi jinping about that, when they are expected to meet virtually before the end of the year, joining me now california congressman mike garcia also a member of he appropriation committee why can't he simply respond to that question. >> because he doesn't have the answers frankly doesn't have backbone to actually confront china at levels we need to be right now all eyes should be on china right now, and he is turning his back on the problem. china represents existential problem fundamentally the issue we have right now is that neither nation faerz each other china doesn't fare us they know we don't have capacity resources, the
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technology, that they are currently developing, keeping up with them we don't fear them we have a president right now not recognizing the existential threat china represents. this is what is leading to effectively asymmetric problem where after olympics next year going to pose a real problem not only for us but also taiwan. dagen: should we boycott olympics we should be boycotting a number of efforts this is what china task force is working on, we've got hundreds of tactics to between to counter this a threat not just economically but militarily also in all domains space as well as cyber, there are things that we should be doing i do believe we should be boycotting i am not opposed to sending athletes lettinging looeths frankly win on competition field show the pride of flying when they
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receive gold medals i don't believe separation should be allowed to support chinese government right now feed into its regional fundamentally one of the biggest problems we have most corporations in the united states woefully dependent on clooip not only revenue but market as well as growth plan something we need to disentangle decouple from. maria: the concentration camps uighurs held tortured raped, to all the money in that country. i am going to bring joe concha here we are going to mention tensions are rising the chinese military building mock ups ebb resembling u.s. war ships full scale outline of u.s. carrier missile destroyers appear a target range complex, joe jump in. i don't see much reporting on this on cbs, msnbc, abc this
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is obviously, a very major find a major deal and yet we concentrate on civil -- there is state on screen a warship china playing target practice with it meanwhile, also, threatening taiwan. we're not talking about big issues enough maybe too boring to average news consumer this is big deal along with president walking away from asked questions will you challenge president xi as far as the origins of the covid-19 virus that killed more than five million people worldwide more than 750,000 americans, he wouldn't answer the question because he probably doesn't have a good consequence because he doesn't want to confront this head-on, business originated in labs in wuhan or did it not sir? what are you doing to prevent next covid-19 from being unleashed on the world? the president doesn't want to answer those questions. >> appalling to me you have a
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president nt white house press secretariry welcomes the competition this isn't a volleyball match this is literally a fight for lives 50 to 57 year arc china looking at long game when you see what they are doling not only builng hypersonic weapons, building missiles match 5 range touches continental united states soekt ourselves up for perfect storm united states probably most vulnerable against this giant bear twheen ever have been maybe outside our borders in americans google the mach enter continental ballistic missile the variant the missile to kill aircraft carriers, very real threat, china getting a lead and we
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need to take them producer price index or october what does it looked like. cheryl: pretty much as expected this is inflation story secretary mnuchin was talking about ppi we got gain .6%, that, of course, is in line with expectations, if you look at the headline number 8.6%, so, honestly that he is pretty darn good considering energy prices, now 23 you strip out food, energy gets interesting we came a little bit better than expected just by a slight margin on month-over-month core number came a gain 4/10 farz versus again half percent expecting if you look at year over year in line with record in september looking for 6.8% we got 6.8%, i pointed out that
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strip out an energy same number since data to 2011 back to you secretary mnuchin telling maria, that inflation is going to continue, the fed needs to stabilize raises normalize operations, this is the story. and this is what the fed is looking at, it is coming in strong numbers, people are paying more this is wholesale inflation consumer inflation tomorrow. dagen: wages have not been able to keep up real earnings real wages have been falling that is the backdrop, cheryl casone thank you so much, we will be right back. .
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hiring as they grow desperate dropping educational requirements, background checks hiring applicants within minutes macy's joining long list of employees offering free tuition joining me former c.k. restaurant ceo, advisory board member andy puzder how hard to fire an easy decision for large employer but the small guys and gals who get, quite frankly, screwed in all this. >> very difficult to find employees right now, there is a big move, out there for people not to work, getting, government support of not to do so you discouraging people from reentering labor force maybe keep unemployment rate down hurting small businesses terribly vaccine mandates can't dill how many restaurant operators called me when the
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mandate was proposed going to lose half workforce so tremendously difficult why you see all these benefits going to employees why you see wages going up, none of that it seems enough to pull people back in. dagen: numbers didn't seem to improve in october for unemployment would you credit that to have extra unemployment benefits expiring. >> the survey for unemployment rate, goes from middle of the prior month to the middle of the month representing so, the unemployment numbers for october, really came from middle of september, through the middle of october and that was a week after those that 300 dollar unemployment benefit stopped. but you also keep in mind that the labor participation rate people working didn't change dismal low number 45-year low since beginning of the year holding down unemployment rate
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so, even if thank you just had as many people working, or looking for work, as was the case in say june, february of 2020 unemployment rate would be 7%, so a lot of this is people not wanting to enter the labor force, and even though we created more jobs because cut back on benefits in october we are still not seeing people jumping back into the labor force. dagen: what about the message that you hear from the left liberals democrats in washington we need to pass this four trillion-dollar "build back better" to get people back in labor force if they need free childcare that is part of the problem is that we need the -- incentive to get people back on the job ro, well, it wasn't a problem during the trump administration. getting people back into labor force they would gladly do it because wages were
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skyrocketing particularly those kind of working class americans, wages going up much faster than their bosses supervisors managers, we had -- income gap that was shrinking. >> you are right it was real wages increasing not only going up but going up faster than inflation rate. that hasn't been the case last six months even though you see wages going up, you have not seen them keeping pace with inflation. the problem here is that this "build back better" bill a lot of benefits going to keep joe manchin has complaints about this the problem is there is no work requirement, so if you were trying to incentivize people to go back to work you do what bill clinton and newt gingrich did back in late 1990s benefits to people returning to work if you can work should you work that is particular in america the benefits what they are trying
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to set up is a form of universal basic income where they keep passing all individual benefit plans produce increased, food stamps snap benefit child tax credit coming in 300 dollars per child -- so doing things that increase people's income without offsetting requiring people to go back to work you end up with very low labor participation, can't find workers. dagen: unemployment rate 50-year low with no freebies from the federal government to get people. >> the labor participation was going up never during obama easier. under trump went up 50-year low in unemployment that is what you want to see. dagen: freedom and opportunity. that is kind of what america is about joe concha jump in. >> i am curious andy do you ultimately trust senator joe manchin kyrsten sinema democrats west virginia
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arizona as far as when chips are down next bill more trillions about to be spent, that they will hold line say we see gimmicks as far as this costing four trillion, five trillion not 1.75 trillion we see through the fact that this isn'tgoing to be paid for by stretch of imagination what white house saying going to be paid for. do you think they hold the line don't allow this to pass the nat. >> my answer would be there are few politicians if any that i trust i think sinema is angry, they have come after her taking rational position followed her in rest roop disrupted a wedding she was attending i think she is angry on top of being right, joe manchin i think sees the nonsense here west virginia heavily for president trump really it is clearly even though he is a democrat clearly a red state so he
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snows what the people in his state want he also saying look i am not a liberal never been a liberal i don't support this kind of spending i don't support of these programs without a work requirement, he is making the lot of -- rationale sane economic argument you would think would with come from a seasoned polling has a bit of reality i am hope they stick to guns that they don't let this go through there is a lot of pressure on them to do so again i don't know a lot of politicians that i mistrust far. >> driving a maserati living on a boat just become a republican for pete's sake. >> we what are you doing here? also the west virginia can look over border into virginia see direction of politics what folks want, andy thank you so much great to see you this morning. >> thanks. great to see you --
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>>. dagen: coming up cryptocurrency rallying to new highs is the top picks, don't forget tune into fox business prime time, tonight, "american dream home" with cheryl casone new episode 8 pm followed by mansion globally kacie mcdonnell at 9:00 you are watching "mornings with maria" live on fox business. . engulf.
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. . dagen: bitcoin record highs this morning cryptocurrency
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trading above 67,000 dollars. of the ethereum new records people look to get hands on dym currencies joining me, give your top is to go picks tied to crypto. >> hi nice to be here, i have unfair advantage -- one of the top launching get to all great engineered, users, there is real if i want to invest in a stock has exposure to hottestars in crypto has to be something that is broad enough and is actual coinbase i think record earnings tonight. dagen: what else, what about coinbase? >> so, i mean coinbase unlike a lot of other pure plays in the public market, has only 40
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to 50% of their exposure due to bitcoin and ethereum lot of exposure to everything else that is happening in crypto all alternative currencies for closure avenue lanch listed on coinbase no matter how you look at it traditional investor or a -- um or a crypto person you have to fall in love with 80%, margins 50% ebitda growth rates insane but you get exposure to all other parts of dedecentralized -- for my small cap high data play would like at company, stock exchange voyageer, a smaller company instead of 80 million registered users they have 2.3 up and coming look at apps in october recently, they
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have massive amounts of downloaded 90% plus year-over-year,, great you you downstairs, in fourth quarter great start for coinbase and voyage jump in. >> coinbase from 250 to 350 increased 40%, i supposeba i agreed that, today's numbers after-hours probably going to indicate a surge because we've seen with coincided with bitcoin ethereum what happens though, we have seen periodically talks of regulation some point going to embrace regulation
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cyberterrorism do you think the cryptos will drop in value what can is your take. >> also part of the rven i think country coin voyageer are companies to invest in, because they have mitigated as much as possible regulatory risk supercompliant i can fault they will not being tycompliant they would grow faster coinbase 15 to 16% global crypto volume in terms of trading activity, they could be a lot higher if they are offshore doing things different. you know he largest play in the state 50% in terms of market share volume they also, they are offshore, so, if you you buffer regulatory risk two companies have a taken painful steps, in dampened some growth
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even though growth is incredible. >> thank you for being here we will see you again. >> thank you. coming up a new type of fall fashion review of -- making a big buzz this morning you don't want to miss it. . i was unable to eat. it was very hard. kimberly came to clearchoice with a bunch of missing teeth, struggling with pain, with dental disease. clearchoice dental implants solved her dental issues. [ kimberly ] i feel so much better. i feel energized to go outside and play with my daughter. i can ate anything. like, i don't have to worry. clearchoice changed my life. ok, let's talk about those changes to your financial plan. bill, mary? hey... it's our former broker carl. carl, say hi to nina, our schwab financial consultant. hm... i know how difficult these calls can be.
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skier conceal road locks gaming company soaring premarket trading after reporting better-than-expected earnings after many people turned to video games during the covid lockdown, company says daily users went up 31%, 47.3 million during the quarter a, rod blocs one of the most popular gaming sites for kids in the world by the way, jim audio engineer corrected my pronunciation kids are huge
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fans thank you jim to down said to, paypalful year revenue guidance coming in below expectations, even though earnings came in above estimates paypal announcing users peer to peer venmo will be able to make payments on amazon next year a review worth more than five stars one woman shocking endorsement nor indestruct ble leggings. .
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♪ dagen: time for the big buzz of the morning. a pair of amazon leggings receiving rave reviews. one woman's leggings stayed in perfect condition as she fell down the side of a mountain. the reviews saying, quote, here is me rolling and sliding down a mountain because i was too scared to get up. my leggings did not even rip, not even a little bit. and i got stuck on rocks ask
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trees. i kind of love this, joe. what do you say? >> i say i'm wearing leggings right now, dagen, probably the same ones that lady was wearing as well, and ask i'm going to get up and show you. nah, i'm not. [laughter] the point is that reviews are very, very important. when i go on amazon, when i go on anywhere, i do read the reviews, and i always worry if i were a company if someone was writing a bad review because they were my competition, not because the products are actually bad. in this case, great, just added it to my christmas list for mrs. if concha. dagen: nice. joel, what do you say? >> a new take on fall fashion. this is a brand new take on fall if fashion. probably a much better play than when namath as an nfl
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quarterback was promoting leggings or pantyhose. good for them to get a little viral marketing. dagen: i am old enough to remember that. here's my review for avis, you get an f. clean your ables, avis -- automobiles, avis is. [laughter] that does it for us. "varney & co." starts right now. stuart, it's all a yours. hey, stuart. stuart: spandex for the next three hours, dagen. [laughter] good morning, everyone. all right. new records for if cryptos. ge, your granddad's stock, reinvents itself, and interest rates keep going down even though there are inflation fears. let's get right at it with bitcoin. it hit $68,000 earlier this morning, and ethereum too is plowing ahead. perhaps the cryptos are now an inflation play? they're certainly popular. it is now a $3 trillion crypto industry. how about that? let's move on to stocks. the dow is going to be dow j

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