tv Cavuto Coast to Coast FOX Business December 31, 2021 12:00pm-2:00pm EST
friends" weekend cohosts will cain, rachel campos duffy and pete hegseth, they're going to be live tonight at the famous wild horse saloon in nashville. line dancing, all sorts of shenanigans. fox will begin that coverage at 10 p.m. eastern. i wish i was there. it'll be fun. all right. jackie deangelis in for neil. take it away. jackie: i think it's going to be 360 million plus 1 or 2, give or take, depending on what i do tonight -- [laughter] but happy new year to you. ashley: same to you, jackie. jackie: welcome to "cavuto coast to coast," i'm jackie deangelis. we are just 12 hours away from 2022. some of the top stories we are watching for you this hour, higher prices hitting consumers coast to coast this year. so will the new year bring some new relief from inflation? we are going to ask a former top treasury official. that's coming up.
plus, president biden still struggling to keep his pandemic at bay despite running on the promise to combat the coronavirus. the latest on how the white house is responding. and as 2021 comes to a close, dr. alveda king will join us with her message on why americans should view the new year as a time for hope amid many pandemic challenges. but first, omicron talking the spotlight this year as -- this new year's eve, i should say, as cases nationwide are at record and surpassing january 2021 levels. this, of course, as states are still facing the struggle over getting more tests. lild ya hu joins us with the latest. >> reporter: the country is setting a new record for daily new covid cases. it's a milestone that it had broken just on wednesday. this is according to "the new york times," more than 582,000
cases were counted yesterday, and experts say that this case count will continue to climb. the latest surge is also forcing hospitalizations higher. maryland, for example, reported its highest covid hospitalization this week as the governors of ohio and georgia deploy the state's national guard to health systems for support. now, tests remain in short supply. many retailers are sold out, and states are trying to make testing available. maryland's governor setting up surge testing centers with the help of its national guard. he said at a press conference this week, quote: we have been calling on the federal government to do more to expand the availability of testing including invoking the defense production act. but as the president himself has acknowledged, those efforts have fallen short. finally, u.s. health officials are urging people to keep tonight's new year's gatherings small. dr. anthony fauci saying family celebrations where all attendees are vaccinated and boosted are
relatively safe. a big party with a new year's kiss from a fun date not such a good idea this year, they warn us, jack jackie. jackie: lydia hu, thank you so much. of course, our attention is also on president biden still struggling to keep his promise to shut down the virus. rich edson is here with a look at the president's promises in 2021, which ones were delivered, which ones were empty. rich, over to you. >> reporter: good afternoon, jackie. and you look back a year ago, americans were hoping that 2021 was going to be the year that we kicked this virus. here we are a year later and cases are surging to a point that we've not seen yet. president biden a year ago when he was president-elect, he was promising in his campaign a competent federal strategy to confront covid-19. republicans have spent the year ripping his response. gop recently tweeted, quote: joe
biden claimed he would shut down the virus. now a year later when he failed to do so, he says there's no federal solution to covid. joe biden's a hypocrite. a year ago the president-elect said the vaccines should not be mandatory, though with millions of americans reluctant to get the shot, his administration mandated workers at large companies get vaccinated or at least tested weekly. the supreme court will hear challenges to those rules in about a week. republicans all say this gives them an issue in next year's midterm elections. >> the covid, the lockdowns, restrictions, vaccine mandates, people are recognizing, and i think it's going to be the defining issue next year and why the republicans will take back the house at least. >> reporter: the biden administration argues it aggressively pushed vaccines. the cdc reports more than 200 americans are fully vaccinated, and that has kept and will continue to keep americans who have this virus out of the hospital. he says he's also assured
hospitals have the equipment they need to confront surges. >> my administration has stockpiled and prepositioned millions of gowns and gloves, masks and event laters. we call them ppp. we're ready to send them immediately to any state that needs more. >> reporter: now there's the question of testing. the biden administration says it's going to purchase about 500 million at-home kits to begin sending out next month, though the president does admit he wishes he had moved on that a couple of months earlier. jackie? jackie: yeah. a lot of people saying too little, too late are. rich edson in wilmington, delaware, thank you so much for that. president biden is going into 2032 with record low approval ratings -- 2022. this latest surge isn't even reflected in that polling yet. joining me now is the hill editor-in-chief, bob cusack. let's start off with how the president has handled this pandemic within the last year. more deaths under his tenure
than under president trump when he had a new virus and we didn't have many solutions, we had to innovate in order to get hem. so many people are saying he had the tools, why didn't he mass produce them? >> well, that's right, jackie. i mean, you look at the year for the president, it's been really a tale of two halves. the first half of the year he had a honeymoon, he passed the covid bill. in july the white house is basically spiking the ball thinking that covid was basically over and then, of course, it got worse and then afghanistan happened. and here we are -- remember, this is the first year of the president's term, a year when he should have higher numbers. usually the public gets tired of their president, so this is only the first year. so going into january which cases are expect to spike even more, this is a troubling, could be a troubling year for democrats and a good one for the gop if the status quo remains. jackie: and those approval numbers are sinking. i mean, he has acknowledge manied it himself. --
acknowledged it himself. 43% of the job approve -- pardon me, 41% approve of the job he's doing at the current level. and as you said, there was a lot of hope going into this year. what was key for his election was that there was a solution through the federal government that he and the government were going to work together to help states, to help this country resolve this pandemic. and lo and behold, then he turns around and he says there is no federal solution. that's a big flip-flop on a huge issue that really matters to so many people. >> yeah, that's right, jackie. i mean, people remember the promises. he vowed to get rid of covid, and now it's worse than ever. and if we're in roughly the same shape a year from now, then the election's going to be very difficult for democrats. and if you really think about it, there's really a lot of pessimism. in the summer there was a lot of optimism. the public's mood is very sour, and that is a bad sign for the party in control, and that's, of
course, the democrats. they control congress and the white house. jackie: yeah. when you look back, i mean, it's the last day of the year, so we sort of reflect not only personally, but politically and on everything that's happened. it's not just the pandemic where we've seen this administration fall short. we looked at that withdrawal from afghanistan that so many call a debacle and look at what's happening in the economy today. the supply chain problems, the inflation. they explain it away, they spin it, they say it's corporate american greed, they say the supply chain isn't broken, but americans across the country will tell you a different story when they go to the pump to fill up the gas tank, when they go to buy groceries at the store. these are the issues that, you know, dominate the day-to-day conversation, and voters are just not happy right now. >> that's right. i mean, for months the president said i'd going to fix the nation's problems, supply chain, covid, inflation. there has been some finger pointing. that's not going to work with the american public, and they're
going to register their displeasure as they did in this election. remember, virginia was not supposed to go for republicans, but it went for glenn youngkin. that was a big win for republicans and gives them momentum into this year. unless this white house is able to turn things around dramatically, they're going to at least lose the house and possibly the senate. jackie: yeah. and that's going to be a huge issue in 2023. you know, you -- 2022. you think about what voters care about and you think about election season, october, november. hopefully they will, you know, if some of the issues aren't the same right at that moment, hopefully they will remember the hardships that we've gone through. it's been a difficult time. bob, i wish you a happy new year, sir. great to have you on toed. thank you. >> thanks, jackie. jackie: another ongoing issue for the presidency, inflation, as we just mentioned. it's expected to only worsen as this omicron variant continues to surge. retail giant ikea now raising its prices.
can the fed rein in inflation with rate hikes in the new year? former u.s. assistant treasury secretary for financial institutions chris campbell joining us now. chris, that's one of the big questions when it comes to the market, investors, how they're looking at the economy. inflation has soared out of control. experts are saying it's going to get worse before it starts to get better. you've got a fed trying to dance a very fine line here. we mow some hikes are coming -- we know some hikes are coming, but we don't know when. what would you do if you were jerome powell? >> look, i've got to know powell quite well, i worked at treasury with him. the challenge is this, the federal reserve, i think, comes into this raising inflation with at least one hand tied behind its back. i know it's forecasting rate increases and likely maybe there might be some, but the federal government over the last year spent so much fun -- so much
money, they put the united states in so much more debt ors it really puts the federal reserve in a precarious spot because if they raise interest rates, a lot of the money that goes to pay for department of education, to department of defense has to go to that to pay down that debt. so really it's a real challenge. look, i think the federal reserve's going to peel back and start parsing back that quantitative easing measure they put in place over the pandemic, they'll accelerate that. but, you know, the reality is, you know, americans as you forecasted early in the conversation are in for a tough year this year. raising inflation's going to be absolutely with us. the federal e -- reserve is suggesting so. and anything the administration does is going to cause real significant economic harm and potential market harm as we go into next year. jackie: you bring up an excellent point. usually the fed just has to look at the broad economy, it's got to deal with its own policies
when it's trying to navigate this. the spending has been unprecedented, and you've got an administration and democrats essentially saying we want that $1.75 trillion spending bill. we're going to push for it come january. of course, that price tag is on the low side. it's not accounting for the long-term costs of that bill. and you think to yourself with inflation this high, can this country afford that right now? >> i think many experts would suggest not. if you factor in the fact that that build back better package that the biden administration's been pushing on a partisan basis, the administration will be on pace to spend about $9 trillion this year. incredibly record-setting. and much of that is deficit financed which is really troubling and really makes it really difficult when you face inflation because what happens is you're putting more and more money in the markets so that continues to -- upward pressure on pricing. so when the administration's
trying to get the inflation put back in place but they continue to put more and more money in the markets, it's kind of, you know, a tale of two cities, if you will. jackie: right. the textbook definition of inflation, right, just for people out there is too much money chasing too few goods. so that's problem number one. and then you add to that the supply chain crisis that we have also, so there's all this demand out there. we're putting even more pressure on the number, the quantities of things that we have while everything's sitting in containers at ports. >> yeah. look, the administration also has,s somebody said it's failed to wrap their arms around the supply chain challenges while some states are trying to divert those ships out in ports get them diverted to their states to offload. the reality is this, that -- and many americans saw this over the christmas holiday. as they try to buy things, this is a different of goods on the
shelves. and so the reality is that that continues, and omicron actually may make that worse as you try to find new ways of getting supply chains put back in place so that we're not as dependent on, you know, those folks overseas that have been really harmed. jackie: one last question for you. you see the dollar store hiking prices along with everybody else, but that's such a great example because it's so concrete. you say to yourself, so the administration is essentially saying, oh, inflation's going to come down and prices are going to come down. stores that have raised prices in this way are going to say, oh, yeah, we're going back to a dollar for items? >> you bring up great points. it is something that no american is going to -- every american knows how much it costs to fill up their tank when they go to work. every american knows how much their rent is. and when those prices continue to rise over the next year, year and a half, all americans are
going to feel that something that's really important to understand is inflation is a regressive tax. it's really felt from those and on those that have the least -- that earn the least among us. so those that are really struggling to the make ends meet. it makes it that much harder for them to be able to pay their rent or feed their families. and so this is a real challenge, and it's going to be a real challenge going into next year. and, but most importantly it's a real challenge for everyday americans, and that should be a real challenge for all of us. jackie: we've hit this point, but i'll reiterate it, the administration taps wage growth. ultimately, any wage growth there's been has been eroded by the inflation we've seen, and people have lesses disposable income. that really is the bottom line. chris, happy new year to you and yours. >> you as well. jackie: thank you. coming up -- oh, let's do a quick market check, pardon me,
♪ jackie: welcome back. 2021 has been a golden year for crypto with the global clip to currency market surpassing $3 trillion in market value. kelly o'grady is here with the key moments of the year that fueled crypto's ascent and what pitfalls may lie ahead. ing. >> reporter: 2021 has been the year that people started to see cryptocurrency as a viable investment. bitcoin and etherium hitting all-time highs, and we even had traditional leaders migrating to the digital currency. first, people embraced crypto's extreme volatility. historically it's scared
investors, but this year that massive upside excited the average investor. more than half of current investors got in this year, and 49% of millennials now own it. additionally, you have celebrities getting in on this craze. snoop dogg, kanye, they've been big investors. athletes started taking portions of their salaries in bitcoin, and that helped dispel the black market association and gave crypto a sense of legitimacy. that can also be dangerous if the average investor doesn't realize tom brady is being paid to promote in those commercials. for all the bright spots in the digital evolution, experts warn that 2022 may be rocky. governments considering regulation as crypto becomes more mainstream. >> there'll be attempts at regulation to slow down the growth because the banks actually don't want you and i to transfer our money out of the bank into a digital bank, okay, like gemini, like any of the other ones. they don't really like that.
but it's inevitable, and it's gonna happen. >> reporter: mark tells me if you can play the long game, there's huge upside potentially similar to what amazon did for e-commerce, you just have to weather the volatility, jackie. jackie: yeah. also many investors using crypto as an inflation hedge this year. that may be a theme that we see next year as well. kelly o'grady, thank you so much. happy new year. >> reporter: happy new year. jackie: we're watching oil prices, they are down today. take a look there, $75.62 for wti. this as analysts expect gas to hit a national average of $4 a gallon by this summer. let's get reaction from drilling company canary llc ceo dan eberhardt. dan, great to see you. oil is one of my passion topics. i've been following it for a long time. bottom line is consumers are paying 60% more for gas. the pain at the pump is crippling some families, you
know, and the forecast is it's only going to go higher from here. >> yeah. the best year for oil and gas or oil since 2016. but i think it's headed higher. look, one thing that's been overlooked, i think, is we discovered 4.7 billion bail -- barrels of oil equivalent, in 2020 it was 12.5 billion barrels of oil equivalent. i think that combined with inflation, the rising economy and just a general lack of oil company expenditures in the last few years is, i think, a perfect brew for oil to head higher especially as the economy heats up or continues to be hot. jackie: dan, you make a great point. production and exploration are down in the united states. why? >> yeah. well, because the companies, the investors wanted to see capital discipline from oil companies especially in the wake of the covid crisis, and it hasn't come back. getting financing for oil and gas companies is becoming a bit
more difficult. and just generally people are wanting -- or the oil companies are wanting to try to be disciplined and not, you know, the shale revolution is a little bit over, and they just want to kind of drill and be efficient, not just chase proven reserves in the ground. i think that's a recipe for higher oil prices as we move forward because contrary to a lot of the green new deal and the renewable craze, the demand for oil is increasing quite rapidly, and we as an industry just aren't prepared. so look for demand to outstrip supply in 2022 and beyond, i think. jackie: i think you make a really good point, and i think that's where this country particularly was caught off guard when we i saw, you know, return to work and trying to get the country back in business. that demand came back, and we didn't have the same kind of supply that we did. i did just want to broaden out the conversation about the green energy policies because i think that's a key component to why oil companies aren't investing in the future.
they understand that there may potentially be many more regulations and a lot more stress put on them if they do. that's not to say they're going to roll over and start doing alternative energy, but financially it doesn't make sense as a sound investment. >> yeah. the long-term future looks cloudy, and i think a lot of these really big developments are 20 or 30-year projects that require huge up-front costs, so people are more reluctant to commit that. also the cost of capital and debt financing is getting a touch more difficult for oil companies, you know, in the short and medium terms as well. and i think that's weighing on executives' minds as well when they're looking at their capital expenditure budgets. all of that, and i would also say that opec is also having trouble producing. opec is supposed to add 400,000 barrels a day equivalent a month to put back the supplies they took out from covid, and a lot of these countries are having trouble, and that's inching prices up higher.
jackie: something to think about, for sure. we had a swing factor of about 2 million barrels a day, so many people say we shouldn't be relying on opec and their 400,000 or whatever amount of barrels or they were adding. we were making up the shortfall ourselves. great conversation, dan. we'll be watching oil prices, so will all americans across the country. thank you so much. >> thank you. jackie: okay. coming up, russian president vladimir putin warning of a complete rupture of u.s.-russian ties in a talk with president biden. former cia station chief dan hoffman is here with his take when we come back. ♪ ♪ -- in my head instead of going under. ♪ 'cuz i'm in too deep and i'm trying to keep the thoughts in my head ♪♪ power to change the way we see things. ♪♪
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resolve, and i think you see vladimir putin observing that, and he's going to push. he's going to use his coercive activity to actually retake some of ukraine the same way that he did in 2014 when president obama was in charge and vice president biden was then our vice president. jackie: that was former secretary of state mike pompeo calling for more action against russia after the president's latest talk with russian president vladimir putin. this as the russian president is now threatening to cut ties with the u.s. over possible economic sanctions. former cia station chief in moscow dan hoffman joins me now. dan, really appreciate you being on toed to give us your perspective on this -- today. this was the second call the two leaders have had in a month and ahead of pivotal talks next month. it doesn't sound like let's saudi proposal city here was necessarily moving in the right direction yesterday. the u.s., yes, has a possibility of implementing these sanctions,
and vladimir putin is saying don't do it. >> yeah. i think that's all by vladimir putin's design. you know, the biden administration made it really clear that what they wanted was a stable and predictable relationship with russia, and so what putin did was dial up the pressure if, put ukraine in a chokehold and then try to extort the united states and nato to give him what he wants which is an iron-clad guarantee that nato will not expand further. and that's the way vladimir putin is moving his pieces on the chessboard right now, and the biden administration has allowed putin to seize the initiative and own the narrative. jackie: right. and that implementation of the troops on the border is really crucial there. believed to be 100,000 troops reduced to roughly 90,000. i don't really see the decline of 10,000 troops as that significant when you're talking about these kinds of numbers. and putin is, you know, testing this president the same way
other leaders in china, in north korea, in iran have as well, and they don't get any kind of response. >> well, again, this is a crisis that vladimir putin purposefully orchestrated to his own benefit. i think he rereduced the numbers of troops just by 10,000. as you noted, that that's not a lot, but he'll portray that as a concession when russia and nato hold meetings. and that will be an opportunity for vladimir putin to say, look, i've given you something, now why don't you give me something in return. jackie: let me ask you this, you know, diplomacy, it's so important when you're trying to negotiate in this way but also as a president, the president has to essentially communicate to these kinds of leaders and and to putin himself that he means business. when we think about what happens
as referenced in that sound bite in 2014 when president obama was in office and joe biden was vice president, you think about many red lines that were constantly crossed, and the result was leaders took advantage, other leaders took advantage of the situation. >> yeah. i think the way that you make your points clearly to vladimir putin is less with words and more with action. and so had the united states made it clear that we were prepared to provide ukraine with additional military assistancing about it, but actually doing it because ukraine is really under grave threat right now, and they've been under threat for months. i think we've kind of missed the opportunity to deter russia but also to gain an upper hand in the negotiations that are going to be upcoming right now. vladimir putin owns all the leverage right now. jackie: if you were going in some sort of order of priority of how the president could approach this with stationing troops and then economic
sanctions number two? >> well, i don't think that -- [no audio] jackie: all right. looks like we lost the shot there but great conversation with dan and, obviously, we will be keeping an eye on everything that's happening overseas with vladimir putin, russia and ukraine as we head into 2022. coming up on this show, hundreds of homes destroyed in a devastating colorado wildfire. now there's hope that snow may actually help prevent more flames. we've got a live report ahead. ♪ ♪ we hit the bike trails every weekend shinges doesn't care. i grow all my own vegetables shingles doesn't care. we've still got the best moves you've ever seen good for you, but shingles doesn't care. because 1 in 3 people will get shingles, you need protection. but, no matter how healthy you feel, your immune system declines as you age increasing your risk for getting shingles. so, what can protect you?
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♪ jackie: welcome back. as new york city gets set to ring in the new year, on the milder side this year, the center of the country is bracing for some serious snowfall. fox weather chief meteorologist rick reichmuth has the latest from the fox weather center. rick. >> reporter: hey, jackie. it's such an incredibly active
weather pattern. we had the fire yesterday across the colorado area, and we have more severe weather, unfortunately, that we're going to be watching across parts of the south the next couple of days. these current temperatures right now, -15 in fargo and 70 in memphis. and when you have these two kinds of air masses, manager has to give, and it is -- something has to give, and it is over the next day and a half. take a look at what it feels like, like -34 in fargo, out across montana, into the -20s. that cold air is about to be released across parts of the deep south. not that cold, but i'll show you in a second. rain across parts of arizona and new mexico, part of a disturbance that's going to drop today and tomorrow, start to bring snow. we just saw those fires in colorado, certainly putting out the fire, but now it's going to
be incredibly cold for people who are digging through beginning that clean-up process. you're starting to see that snow make its way closer to the front range that's been incredibly dry. drought conditions across colorado. now we're going to get some snow along with this one later on today and into tomorrow. but eventually, we've got a pretty heavy snowstorm across the central part of the country, kansas, nebraska, iowa, chicago and over towards detroit. and then the southern side is where we have the severe weather threat and a flooding threat as well. that takes place today, later this afternoon to tonight in the overnight hours. mostly some strong winds, maybe some hail, and we couldn't rule out an isolated tornado today. we saw that severe weather is a couple weeks ago in places like mayfield, kentucky. again, areas that if you're going to get severe weather this time of year, this is generally where you would get it. still, january 1, you don't want to see that. along with that we've been so
incredibly warm across parts of the south, this storm is going to bring some cooler air that's going to eventually go all the way down across places like texas and oklahoma. these are overnight lows. monday morning it's going to be about 24 in dallas, 23 in memphis. cooler air comes in, but it's not going to last too long, it'll warm back up. our overall pattern stays the same, but a bit of a break from the high temperatures across the south the next few days. jackie: rick, thank you for tracking it. sounds like new york city's in good shape weather wise, and we should be grateful for that. good to see you, sir. all right. fox news correspondent jeff paul is in louisville, colorado, with more on those homes that were destroyed by the wildfires that rick just mentioned for us. jeff. >> reporter: [no audio] saying that most of the larger
fires are now out and that they're thankful to the -- that the snow has started to fall. but the recovery effort will be slow moving and massive with so many families impacted by this fast-moving wildfire. now, behind it is one of the neighborhoods impacted, just one of the many in the area. very few homes still stand as firefighters continue to put out some of those spot fires. we're even starting to see folks return to their homes to find out that they have nothing left. and if you drive around cities like louisville, they see some of what we're seeing up close. one of the thens of homes -- hundreds of homes throughout this colorado area that were burned to the ground in a matter of mere minutes. you can see here in this driveway two cars burned down to the metal frame. and when you look throughout this neighborhood, the only thing that still stands are some of the brick foundations and chimneys. [inaudible conversations]
>> reporter: now, this wildfire started after strong wind gusts whipped through the area as high as 105 miles per hour. officials say the origin hasn't been confirmed, but they point to downed power lines. the speed of the wildfire if gave tens of thousands of folks mere minutes to get to safety. the flames burned an estimated 580 homes, but the number could be as high as 1,000. also burned a hotel and a shopping center, but first responders couldn't do much to stop it. all they could really do was get as many people out as they possibly could. >> i've never been involved in anything like this, and i'll tell you, it was really scary. it was so dark. of course, you just can't see anything. it's like the black of night. i would imagine this is what -- looks like. what a nuclear attack looks
like. [no audio] e. >> reporter: now, the governor here in colorado says that that so far they don't have any reports of schools being damaged or hospitals from this wildfire, and he says that he would be -- it would be a, quote, new year's eve miracle that no one was killed in this fire. first responders sprung into action and people who live here also listened to warnings and got out. jackie? jackie: jeff paul, thank you so much for that. really difficult conditions in colorado. meantime, less than 1 hours left in 2021 -- 12 hours. a socially-distanced party is getting set up in times square, and also i'll ask dr. alveda king what she'll be hoping for in the new year. ♪ ♪
laura, over to you. >> reporter: you know, it is a beautiful day. it's not too cold, and the crowds may be a little bit smaller this year, but they are here and they are getting cued up, ready to be screened in. you've seen all these videos from years past about how people are crammed in? well, if you want to get crammed in, you're going to have to show proof of vaccination and your id to get into those pens to celebrate in one of the most famous places on earth for new year's eve. now, safety and security always the top concerns here in times square, and this year keeping covid at bay is on the list for how to keep people safe. as we mentioned, there are scaled-back celebration withs not just for house parties and restaurants. here at the symbolic center of new york city, news of a record number of covid cases reported yesterday is on people's minds. 44,000 cases were confirmed yesterday alone in the big apple. so the rules here are strict for revelers, only 15,000 will be
allowed to attend. and attendees also must show that proof of vaccination card, they've got to show a valid photo id, they've got to match up, and they must wear a mask to get inside of this area. in years past we've seen those numbers. approximately 58,000 people crowd into those viewing areas, and last year crowds were banned altogether except for a couple of first responders and members of the media. there was no one here. but as covid concerns are front and center, the nypd is also keeping a watchful eye on security using more than 1,000 security cameras to monitor for threats along with deploying uniformed and plain-clothed officers and using magnets to screen revelers before they get into the celebration areas. other cities like san francisco and atlanta are pulling back on plans, canceling them altogether. major hubs like chicago and new york, though, still moving forward with the adjusted celebrations, asking partiers to
mask up if they are advantagessed up. so -- vacsed up. here at home you're watching us on your app right now, what are you going to do? probably celebrate with your friends. but, of course, if you want to watch all the action here in new york city, go to fox news channel and watch our celebration. we're going to be broadcasting live, 10 p.m. eastern, both here in new york and in nashville, for the all-american new year's celebration. so you're not going to miss anything. just keep it with fox, and we've got you covered. back to you. jackie: 15,000 isn't the same in times square, but at least mayor de blasio didn't have to cancel it. laura ingle, great to see you and happy new year to you. any -- my next guest says the new year is a time for prayers of hope, kindness, repentance, love. dr. allie v.a -- alveda king, niece of dr. martin luther king jr. alveda, great to see you. i'm going to hand the floor over to you and first ask you, what is your new year's message? >> my message for new year's and
looking back at 2021, it's about to be behind us. we need to thank the good lord for bringing us true -- us through. some of us had covid, some lost friends, loved ones, family to covid. we experienced a lot of arguments about many things, and yet we are here. so my message comes from my grandfather, reverend martin luther king sr., who said thank god for what we have left. so we pick up with what we have left, and we begin to move forward into 2022. can you imagine? personally, i've got another book i'm working on, some new music, and at the center for the american dream at america first policy institute building bridges, mending relationships, bringing people together for the american dream. my uncle, martin luther king jr., reverend dr. martin luther
king jr. said that he had a dream, and it's rooted in the american dream. we need to take a look at the american dream that knows how to repent, to forgive, to be kind and to thank god for what we have left. jackie: so much good sentiment there, so much people can learn from. you know, we complained a lot about all the things that happened this year. covid, of course, was one of them. and as you mentioned, many people did die, and i'm not diminishing the human tragedy here. and we faced other challenges as well, alveda. still when i look back on the year, as much as i complained, as bad as i thought it was, i could see the silver lining. there were parts of it that were wonderful too, and it wasn't so bad. so i'm trying to sort of bring that up and think about the positive things as we move into 2022. sounds like you're on the same page. >> absolutely. and in 2021 towards the end, especially around christmas, people were remembering the reason for the season. for many of us, that's jesus. and people were more generous
not with just money and gifts, but with time, spending time together, thoughtfully communicating. i thought that was amazing. so that's something that we can carry with us into the new year. jackie: one of the big topics this year was crime across the country. we saw spikes in many major cities. some of it was, you know, as a result of policies that we've seen because of the pandemic but also, you know, lawmakers becoming a little bit less lax in enforcing policies as well. some of the crime, i think, was probably fuel by anger as well. your thoughts on how we can rein that in as a country. >> we have had in 2020 and 2021 anger, confusion, not knowing how to work with each other, communicate with each other. the mask took away the human face, the human dignity. and i believe in dignity from the womb to the tomb for the one-blood, one-race human being. so what we need to do now --
there, again, that's where that repentance comes for some, thinking about yourself. what could you do differently, what could you say differently and to carry that forward as well. and all of the arguments. we shouldn't be fighting each other. we need to fight to live and to be kind. civility, kindness. they took civics out of school years ago along with cursive writing and things like that, so we need -- in every generation and now every decade we need to bring kindness back to the forefront and learn to communicate without hating. jackie: yeah. you bring up so many wonderful points, things that we should think about tonight. kindness, helping each other, putting the worst behind us and moving forward as a nation. dr. alveda king, happy new year to you. wonderful to see you today. >> same to you. bye, everybody. jackie: coming up, chaos at the airports showing no signs of stopping as flight cancellations and delays still spilling over to 2022.
we are live at philadelphia's international airport with the latest when we come back. ♪ ♪ superpowers from a spider bite? i could use some help showing the world how liberty mutual customizes their car insurance so they only pay for what they need. (gasps) ♪ did it work? only pay for what you need ♪ liberty. liberty. liberty. liberty. ♪ spider-man no way home in theaters december 17th
to close out the year in the green for the third year in a row. let's bring it jerry b smith, chain-- shayna sizzle. shayna, we will start with you. is double market going to slow down as we head into the new year? >> i think it will. especially i think it will be a very interesting first quarter. there are a lot of headwinds to the market going into the first quarter with the tapering by the fed, accelerating the potential they could raise rates as soon march and then we have the whole omicron debacle. there are decisions being made on state and local levels that are going to impact the economy specifically many of the big cities implemented vaccine passports starting at age five and up. i looked at the numbers, 30% of that age group is fully vaccinated. you are talking about
making it so that parents and their children are going to be very limited in what they can do in terms of getting out of the house and participating in in the first quarter, which i think will impact sentiment, but also impact just the overall ability for the economy to keep up the momentum they have. and have had with the headwind of people not being able to do the things they would like to. jackie: gary, we are looking at the spike in the pandemic probably going into the third week of january is what some doctors have told me on the air on foxbusiness and you think about the first quarter generally is as lower as people spent money for the holidays, maybe troubled whatever the case may be, but is there opportunity in the second quarter and beyond to see 2022, you know be as successful economic year with recovery on the horizon if the covid fears are put at bay? >> yeah, absolutely. look, i agree with everything you just
mentioned and everything shayna said except for one caveat. i think a lot of this is baked in, it's baked into the markets, it's baked into people's expectations. you just had right before we got on i said basically new year's eve is back on in new york city. people are returning to normal covid or no covid vaccination or no vaccination, people are saying i'm pretty tired of it and i think the market is two. shayna talked about the fed raising rates, probably definitely, but i think that's already in their inflation, my gosh it's rampant, people's expectations are in there. the market is essentially moving sideways since august-- august. i don't think it's ready for leg down. i think it's ready for a leg up. jackie: interesting point because when it comes to the fed they like to put it out there, the market knows what's coming, but with respect to inflation which is another big problem we know that we will see a bit of a
pop before anything gets better probably. the same with covid reopening and all of this, show shayna, the people that look at the markets and say it's an interesting stat at the last three years we closed in the green, finished the year up, that this bull even though it's an old bull, it still has room to run >> let me be clear. i'm not suggesting the market is going to have a huge meltdown in 2022. simply saying that it's not going to be as strong as it has been over the last several years and in the last two years and i say this because gary mentioned the fed raising rates and how it's built-in, there are two concerns. one, there is at hand that the fed has to move as they have been communicating and that could come out of surprise mostly because i don't think that their actions are going to have a substantial
impact on inflation because of the inflation it's not necessarily as a result of monetary for, yes that's contributing to it, but if we see and as we start to see overseas going back into lockdowns, continuing these very draconian coven related rules is going to continue to affect the supply chain, which will continue to impact inflation, so the fed raising rates accelerating the tapering is only going to affect the demand part. the supply part is still a major risk and i actually don't believe the market is considering that as much as it should be. jackie: okay. you know gary, it's interesting because when it comes to the supply chain that's been a part of the problem here and we also have a labor shortage on our hands, looking to see some of these issues become resolved and shayna rings up the point about inflation, yes the fed
can ask when it's fixing its own monetary problem. the other problem here, of course, has been government spending, rampant spending because of the pandemic and also because of the social agenda. we have another bill the democrats are saying they want to push forward with if they can that may be something the market isn't expecting because i do think it is sort of hung you know hung its sights on joe mansions and know about. >> outlook, i'm not pollyanna, don't get me wrong. in fact, nor-- normally a bit on the bearish side, but okay let's take the-- you are absolutely right, the inflation will not be impacted almost one iota by the fed, may be tightening the money supply a bit, but you are right that's a supply problem and that will be fixed when the supply chain issues are hammered out. are they better than they were cracks i tended to think so, so i
think we are on at least sideways or outboard chaos on those issues resolved. as far as the government spending, i mean, look, that's a problem frankly no matter who's in control, democrats or republicans. i think the saving grace is, i'm not sure any big legislation is going to get past with the midterm elections coming up, so they have the democrats worried that they are going to hold congress you know at least hold the house, so they will be weary about really putting it out there who's going to being more joe mansions -- joe manchin i think will surface. jackie: you make a good point shayna, with this expectation of the midterms, that's something that the market is a saying that will be good for investors. that will be good for wall street. >> oh, i agree and i expect to see a red way then you can tell the messaging as it relates
to the pandemic, it's been a sudden ship as you see dr. fauci, talk about hospitalizations with verses from and people saying things like cloth masks don't work and president biden saying things like it's important we keep schools open so the messaging is changing i think because they see the polling numbers and they are concerned. i think the market would be very happy to see a red wave at this point to see some of the changes in policies that would be more supportive of continued economic growth, but it's not just about us. remember this, you have to be able to see this worldwide and i think you'll start to see these trends move even outside of the united states where people start voting in more conservative types of leaders because they are just so fed up with how policy decisions have been made in the recent years. jackie: to your point i think the united states on covid at least with policies set the stage and i thought it was interesting cdc director said
they were reducing the quarantine time partially based on what people could tolerate. you know, it finally sunk into health officials that this is having a major major toll on the mental health of americans, on their physical health and well-being as well, so we will see if restrictions ease of-- ease up more peer we will see you later in the show, thank you for the great conversation. all right. , the market, ks at the airport and adding his soul to injury rough weather causing more flight cancellations on top of the staff shortage with cancellation and delays spilling over into 2022. jeff bloch is at a philadelphia international airport with the latest. jeff, any good news as we head into new year's because it's been a string of days where passengers are just frustrated. reporter: mental health of the passengers has to be considered as well as the rest of us out here. it's a broken record, jackie. another day, another
slate of delays and cancellations. look at the latest numbers we have from flight aware we are up to 1370 flights canceled just today after 1400 yesterday, delays are 1700 plus as well. airlines hardest hit would be out west and this is whether for southwest-- skywest i should say, 288 cancellations for skywest, 12% of its daily flights. united 210 in terms of cancellations, 11% and jetblue even worse. jackie: okay. unfortunately, we lost jeff, but the general messaging is that things are going to get worse in the skies as well before they start to get better for passengers. meantime, a new year, new covid messer-- measures in place and students and staff at washington dc public school must provide a negative covid test before returning to
school january 5. it's also prompting some concerns about the return to virtual learning. lydia has the latest for us on that. reporter: hi, jackie. dc mayor is making tests available to students at public and charter schools, but the announcement about the test mandate is prompting some concerns and drawing i or on twitter. the mayor said she expected schools will need to return to virtual learning throughout the semester. about two dozen schools are already in virtual learning across the district. chicago public schools set about 150,000 covid test to 300 schools that were hard-hit by the pandemic in areas with low vaccination rates. they are asking families to voluntarily test students before returning to the classroom, that parents were instructed to return these tests for processing by fedex. look at this, they were outraged this week by overflowing backlog at brought boxes that force
them to leave covid test piled up unsecured waiting to be picked up because of the logjam the school district did adjust the deadline for the test. also, happening just this morning, the massachusetts teachers association, the union is asking the schools to stay closed on monday. the union wants monday so teachers and staff can be tested. they say that the teacher tests have been delayed in the supply chain and a statement given to foxbusiness that the state of massachusetts made it clear they will not close schools monday, telling us quote it's disappointing that once again the mta, the union, is trying to find a way to close schools, which we know is to the extreme detriment of our children. strong language there, jackie, but it's becoming clear that this issue is again hitting teachers unions against students and parents. jackie: yeah and there's one thing we know for sure is that parents are not fans of the
virtual learning. lydia, thank you. coming up, hillary clinton taking a shot at the squad suggesting progressives could cost the democrats in the 2022 midterms we will be right back. ♪♪ hi, i'm debra. i'm from colorado. i've been married to my high school sweetheart for 35 years. i'm a mother of four-- always busy. i was starting to feel a little foggy. just didn't feel like things were as sharp as i knew they once were. i heard about prevagen and then i started taking it about two years now. started noticing things a little sharper, a little clearer. i feel like it's kept me on my game. i'm able to remember things.
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see if you can save by switching today. comcast business. powering possibilities. jackie: while apple is unlikely to hit the 3 trillion-dollar valuation in 2021, it remains the largest company in the world by market capitalization. moving into 2022, apple will likely continue to face weaker demand, supply chain hurdles and inflationary pressures. back with us gary smith and shayna sissel as they join us to discuss it. gary, i will start with you as apple has been one of the leaders of the market, a darling to tech investors and it really has the struggles that it will face that i just mentioned, but it's also betting big time on the meta- verse, augmented reality, ai, all of these things and competing with the others out there in the space to be a leader, i think that is what will drive the future.
do you agree? >> totally. they remind me a lot of amazon. i make the analogy that amazon has the moat around it, that it's tough to beat amazon just because they have all of this darn distribution centers that no one else has scattered across the country and maybe other than walmart is the only one to give you the goods the next day. apple has the same thing. they not only have their hands like amazon and all those new areas that you mentioned, you know the cloud computing, the meta- verse to all of that, but they have this moat called the apple leak-- apple ecosystem. i have an apple phone, you probably have an apple phone, i have apple ipad, apple music, i can escape apple. i have no desire and i think most people out there in the apple landscape are like me so they will be buying the new products and then as apple gets into new things, whether they fail or not, who knows what will happen with the meta- verse, but they will get into
something else that probably works out. i think they have a great future, not without bombs like any company, but my gosh if you own apple certainly don't sell it at this point. jackie: to me apple devices to count on one hand, so even if there is a supply chain issues a short term within the next three to six months or whatever the case may be it's likely that apple will be able to overcome just because of its market dominance. how do you feel about that? >> i agree 100%. the brand loyalty for apple is significant and the ecosystem really is as gary said a tremendous moat. i like both of you have an iphone and an ipad and watch apple tv and i have apple music and i have all of my music on my phone and i can't imagine switching to something else. i don't want to be-- to be the reason it doesn't work well, so i think there's some aspect of that and people will
continue to upgrade their phone, maybe they just wait a little longer. i normally upgrade every year this time. i can wait till the next cycle. i didn't run out and get a new iphone just because it's harder to get and-- but it doesn't change my loyalty to the brand and then always forward thinking. it comes from the foundation of which apple is built on which steve jobs really ingrained into the company soul and so going in and because people are still loyal to the brand you know when they come up with these products even if there's a lot of competition in the landscape, people are just going to go to the apple products. they are adding to their ecosystem, exactly. jackie: gary, shayna brings up the jobs, the vision of the company, why it's been able to essentially create this ecosystem on which we are so dependent, you know, people were on the fence if tim cook could
do it. when it comes to popularity, he's managed to keep it up there. >> it really is one of the great management success stories. it's as if the patriots one day got rid of bella check and got another guy just as good as him, i mean, you think that cannot happen. look, i would be honest with you i did not think tim cook could hold a candle to what steve jobs did, but he's done it and he's probably done more because steve jobs was a visionary. i think cook is probably less visionary, but may be 90% visionary, but probably 100% corporate manager type. jackie: a businessman. >> exactly. jackie: and where steve jobs was in love with the innovation and i totally hear what you are saying so it will be interesting to see with the company does in 2022 as we will watch to see if it reaches the 3 trillion mark. don't think it will happen today. guy's, thank you. after the break, some
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>> it is a time for some you know careful thinking about what wins elections and not just in deep blue districts where a democrat and a liberal democrat or so-called progressive democrat is going to win. look, i'm all about having vigorous debate. i think it's good and he gives people a chance to be part of the process, but at the end of the day it means nothing if we don't have a congress that will get things done and we don't have a white house that we can
count on to be sane and sober and stable and productive. jackie: they say hindsight is 202020, hillary clinton they are appearing to throw some shade at progressive democrats suggesting they could cost 2022 midterm election losses. let's get to washington times opinion editor and fox news contributor charlie hurt. hillary clinton you know has been a champion of some of the progressive causes, now changing her tune. i find that interesting especially at a time when joe biden's approval rating is pretty much at an all-time low, charlie. >> yeah, no, it's pretty extraordinary listening to her talk about all of that and i very much read that more than a lot of people heard those comments and thought she was talking about donald trump, and maybe she was, but goodness gracious, she was also talking about joe biden because when she talks-- you know i defy you to find me a
single progressive or liberal or whatever you want to call it, i call it sort of wacko left-wing policy that this white house that president biden has now embraced it. obviously they've had a hard time getting a lot of this stuff through for obvious reasons, but it does sound like she sort of throwing a lot of shade not just at progressive's, but at joe biden who throughout his 50 year career has sort of tried to style himself as some sort of sensible moderate, but that's obviously not how he's governed in the white house. jackie: it's interesting because you think back to obviously she lost the election and you think back to her husband, bill clinton, who started left that he was when he left office and what he realized was that going too far left wasn't going to work for him and he was going to seek another term, so he came very close to the center with a booming economy, people loved him despite his personal scandals and everything else that happened and what i think is interesting here is with joe
biden you know you wonder, campaigned as a moderate, they knew they had a window to pass some of the stuff, not all going the way they planned, but who knows if he will run again, who knows if he will be healthy enough, i mean, there's so many dynamics here. >> there really are a lot of moving pieces and i think that chief among them is president biden's health, either a -- i just can imagine that he's going to be able to go through another arduous campaign given this a sort of things we have seen out of him so far, but it really is amazing when you mention president bill clinton, you know a guy like that, i democrat like that, old school democrat who believed as you pointed out in moderating his own behavior to sort of you know and of course he was criticized at the time for being so obsessively concerned with polling, but the point of that was that he actually really cared , he wanted to be in the center.
he cared what people thought, so he sort of went overboard on a lot of things in that respect, but i don't think a guy like bill clinton could survive in today's democratic party. they would never elect him. he would be run out of town by the so-called progressive left wing part of their party. jackie: the bernie, elizabeth warrens, aoc's of the world i guess and those are the people that are essentially pushing joe biden to lean as left as he is having said that, i want to switch gears for a moment because vice president kamala harris is struggling to answer a question on inflation, so i want you to watch this. >> was a wrong to consider inflation transitory? >> we have to address the fact that we got to deal with the fact that folks are paying for gas, paying for groceries and need solutions to it. jackie: alright, so she gets it, charlie, i mean, to a certain extent. that doesn't mean she's necessarily going to do anything about it your
thoughts? >> look, you know i get it. politicians when they get asked a question they don't want to answer, they always artfully or to some degree artfully or inartfully managed to find some question they do want to answer and the answer that instead and that's what vice president did right there, but the problem is inflation is an obvious question and if you are president of the united states or vice president, that's a question you have to be able to answer. you can't run from that question. it's an issue-- there is no issue after security itself, there is no issue that is more important to average american voters and it's an issue that is that important you have to come up with an answer for it. you can't dodge and then go answer some question that no one asked because you don't have a good answer for it. that adds an insult to the real injury of inflation. jackie: i hear you and i'm actually pretty harsh greater but i will give her points number one because she didn't cackle and number two because
she didn't make that stupid analogy that she did with the border when she said i didn't go to europe either, so at least she tried to stay focused. charlie, great to see you. >> that's good. jackie: from politics to puerto rico major crypto millionaires now taking their wealth to puerto rico to avoid paying taxes on their capital gains. former puerto rico republican governor joining me now. great to have you with us. i went to talk about a peace that the "new york post" wrote about puerto rico highlighting why people are flocking there. they talked about legal and financial incentives, they talked about the beautiful weather and they also talked about this movement of crypto currency gurus they are drawing so much attention. i will start with that and let you elaborate. >> of course, jackie. thank you again. in 2012, during my tenure, i actually signed into law a bill to attract investors to
the island. we wanted more capital, and we wanted to generate jobs and essentially bona fide residents of puerto rico-- as you know we are american citizens but we don't pay federal taxes we pay local taxes and under this inflation actually you pay no taxes on any dividends or interest income nor on any type of capital gains that are accrued after you are a resident of puerto rico and we have had thousands and thousands of families that have moved from new york, california, you name it and those estates that have very high taxation and have moved to puerto rico and again, you not only have a tax-free that is attractive for that kind of person, but we are generating in the process of jobs that we certainly want and they can also, not just enjoying our society,
but they can enjoy our weather, our people, our food, our culture and again it's been a tremendous move and it's interesting that one of those groups that has taken advantage of this interesting promotions are those that are invested heavily invested in crypto currency and we have seen tremendous gains, you know, in the value of crypto in the last few years and again, those that have already moved to puerto rico are paying no taxes on those gains, which is phenomenal. jackie: it's interesting because during the pandemic we saw a rush out of blue states you no money flocking to states where it was treated better so all the time talking about texas and we talk about florida, but you bring up really great points about puerto rico as well. some are saying move overdue by, move over
singapore, that's what puerto rico will be this next financial hub. >> and again, if you go to those countries you are in a foreign country. in puerto rico you are in the us, our medical system you know we have board-certified physicians and the quality of life is very different were more akin to what you will find in many mainland jurisdictions so again it's a lot easier to adapt. on top of that, you are a couple of hours away from florida, so it's pretty close as well in case you have to visit someone or fly to somewhere in the mainland for business. jackie: all great points and perhaps the place that's been overlooked or perhaps not by those in the know. great to see you, sir. happy new year and thank you for being with us. >> thank you. jackie: coming up a new year means a new mayor for new york city, but taxpayers aren't done just yet with the buildable osseo, how they could be left with a tab for a failed
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jackie: bye-bye buildable osseo, eric adams is said to be sworn in as the next mayor of new york city shortly after midnight tonight and fox news contributor liz peake joins us with her take on where the adams administration goes from here. as a resident of nyc i can tell you many people are saying the blahs io, don't let the door hit you. >> worse mayor ever. i think that is the general view, his polling shows even the "new york times" talks about so unbelievably unpopular.
where does eric adams go? anywhere will be up, i mean, the truth is you can hardly do worse, obviously the main issue confronting new york city right now is rampant crime, the murder rate is skyhigh ect., eric adams vowed to reverse policies and hopefully he will and won't be stymied by a very liberal silly counsel or state legislature, but there's a lot he can do and his promise for example to put back the plane closed cop unit that de blasio disbanded so hopefully we will see progress. jackie: crime is definitely a number one issue and i do say i'm hopeful that we will see good changes, but one of the things he announced in the last few days before he was-- before being sworn is that he will continue with the mandate on covid that were implemented by mayor de blasio. a little surprised, but
i do understand where we are right now, but at the same time i don't like hearing more mandates. >> well, yes, continuation of these mandates seems unfortunate particularly when a so many small businesses are again teetering on the brink of failure. i mean, i just bleed for all these restaurant owners, hair salon owners ect. who are just beginning to come back into the being and to open up again. jackie, they are all in trouble again. look, the only good thing to say about the mandate, i don't like the employer vaccine mandate. a mask mandate to me might mean people feel safer coming to new york and going out to eat ect., maybe that makes sense. i'm sure he will figure this out. right now new york is as a disaster. everyone seems to have covid, almost everyone i know has covid and their family and everyone is staying home which is a tragedy. jackie: same with me, literally every person i know.
you look at that picture, liz, next to us as we have the conversation and it was of sixth avenue and during this time of year it's pretty empty, i mean, it's better than it was in march, 2020, but nowhere where it should be at this time of year. this is typically when all the tourists come here and we raise so much revenue in the city so, i mean, it's another year we are taking a big hit. >> and look, the news stories that fly around the world about murders in times square or children being arrested because they are trying to go out to eat with their parents, foreign tourists, what you think they are doing, flocked to new york city when they see these horrible headlines? i don't think so. we have a lot of work to do. right now, we are not really appealing to many people. so many things are closed like broadway shows, radio city ect. we have to up our game and i'm really praying that eric adams has some good ideas about how to do that. jackie: and speaking of tourism,
it's so expensive here, liz peake. inflation has hit us particularly hard so tourists think about that when planning a trip. they want to be as economical as possible sometimes as well. one more point, bill de blasio is not going to say when he will repay taxpayer money, that $320,000 he spent on security services during his failed presidential run in 2020. that definitely has some people outraged. >> jackie, he never intended to repay it. he knew, he got a ruling from the ethics group in new york city before he made his campaign starts that he would not be able to ship payments for police detail and stuff onto taxpayers and what i find hilarious about this is he went to iowa and no one even knew who he was. why did he need police detail? i mean, is someone going to track him down in iowa when they can easily find them in your cracks i doubt it.
the whole thing is outrageous and he's always had this sort of with of corruption around him, his campaigns. the only reason he wants to run for governor is to try to raise money because his mayoral campaign is in the hole financially. like $5000 left from his presidential run, how he even has that i don't know so i think he can't , but he needs to earn money and the only way he knows how to do that is to go out and run for something else. jackie: wow. >> incredible. jackie: liz peake, great to see you hope to see you in person one of these days is soon. happy new year. >> happy new year. jackie: after the break as americans get set to ring in 2022 a little more than 10 hours from now, why a severe shortage in one key party item could dampen the new year's bus-- buzz ♪♪
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hard to get your hands on your favorite bottle as it is on a covid test. foxbusiness grady trimble is in chicago with more. grady, do not be the bearer of bad news today. reporter: i hate to do this on new year's eve, jackie, but yes sales are popping and so are prices of champagne. we will show you the numbers. the index that tracks champagne bottle prices show prices are up about 34% this year and that's because it's hard to get your hands on some bottles. we are at pops for champagne, a champagne bar in chicago and there is no shortage here, but there are certain brands that i guess have been hard to get your hands on. craig, the owner here. >> certain bottles are a little bit more difficult this year due to a lot of the supply chain issues with covid and the sales are just increasing with everyone enjoying bubbly. reporter: it's interesting that the supply chain bottlenecks are part of the problem, but demand for champagne has increased
drastically during the pandemic, typically it's probably a december beverage, but people have been exploring new winds all year, i guess. >> yet, initially at the start of the covid pandemic you saw sales drop, most industries did an champagne really had a strong comeback as people are excited to try new winds and it's a great time to be in the champagne business. reporter: was the future look like you for-- for you guys? are you a bit worried about january, february? >> we are a bit concerned probably up until march. we have a lot of relationships and we work with a lot of small independent farmers, grower, producer so we place our order six months ahead of times and they are hitting now. some big houses hopefully catch up again get us wanting back by that time. reporter: jackie, just like a lot of things the product is there, it just may not be the specific bottle you are looking for, so don't worry, there will be champagne out on new year's eve tonight and stocked up at houses. it's just maybe not exactly the brand you wanted.
jackie: what you are saying is a complete relief to me. on not a brand snob at all. i will drink anything. grady trimble, happy new year to you, sir. reporter: you to. jackie: new york city is moving forward with a scaled-back new year's eve celebration as covid cases continued to surge and all eyes will be set on my next guest, gift of wisdom crystal ball designed waterford crystal master artisan tom brennan show-- joins me now. tom, always great to see you and always such a wonderful thing to see here in manhattan when the ball drops whether you are there in times square in person or watching it on television. tell us about this year's ball because i visited one year and i know we change the theme and do all kinds of different things to prepare so go ahead. >> we at waterford are so proud to be part of the tradition that is times square in-- and new year's eve because we have one--
200 million people approximately watching at home surrounded with loved ones and hopefully as i was watching your excitement before with the champagne so maybe perhaps there will be a waterford crystal toasting with their champagne at home celebrating as we get ready. jackie: let me ask how much preparation goes into this because we think about new year's eve and laura ingle was on before and said 15000 people in times square, but we usually have 58000. bottom line, that doesn't matter as far as you are concerned because the ball still has to look great. tell me how you get it ready and how you get the engineers to put it all together to go. >> yeah, it's really a global operation quite frankly. waterford crystal, you can see behind me founded in 1783 and we are synonymous with success, celebration and we celebrate with
revelers around the world. we know there's a back scaled version this year but the main thing is number one is going ahead safely and number two it's going ahead and it's important to do so and all of the engineers and artisans at waterford and beyond are getting ready for this evening because it's our biggest event of the year so when you think about it, you have 1.2 billion people around the world which makes tonight's waterford crystal the most watched brand on the planet that something special. jackie: can we talk about the special themed gift of because it's been a rough two years and we are trying to move forward. we had elevated keying on before sharing words of wisdom and i'm what-- wondering what led you to choose this theme. >> wisdom is important for all classes of life and i think we are part of going through what we call the greatest giving series and each and every year we have a brand-new theme and design. this year is wisdom, previous years were happiness, imagination and all those good great
global sentiments. it just so happens that wisdom, which was preplanned a couple of years ago fell right into this year and i think that we are all trying to gradually walk towards 2022 with a sense of optimism that our lives and everything will get better and waterford is happy to be a part of that tonight is the world watches a. jackie: if i remember correctly from my visit to the ball before we went into 2020, was the last new year's eve before the pandemic hit us. i think this ball ways just under a little bit under 12000 pounds and i'm going to have to remember. i'm going to put you on the spot, how may crystals again? >> we have 2688 of these waterford crystals. about-- just under 12000 pounds in weight unreinforced floor so it's a remarkable feat of engineering,
remarkable feat of a imagination to bring this to the world. times square is a synonymous with the success and since 1904 there's been a celebration there with waterford crystal for over 20 years now. as we go into the new year and everyone is getting ready for something really special for 2020 to. jackie: the ball is iconic, watching it is a tradition. thank you so much and great to see you and thanks for the work you've done to get it ready. okay, france will now ban popcorn and snacks in movie theaters due to the spike we see in covid cases. the band begins monday and is going to apply to all theaters, sports venues and public transportation across the country. we will be right back. and your customers want seamless and easy. with ibm, you can do both. your company can monitor threats across your clouds,
jackie: quick market check before we go, the dow jones, s&p 500 and nasdaq said to close the year out in the green making that the third straight year for gains for all the major averages sue. thanks for watching. happy new year. now to ashley webster in for charles payne. didn't i see you before? >> i was going to say tag on it. good afternoon everyone. i'm actually webster in for charles paul-- charles payne and this is "making money" breaking right now, the last trading day of a volatile year. is the santa claus rally delivering our expectations, plus market washers--