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tv   Cavuto Coast to Coast  FOX Business  January 5, 2022 12:00pm-2:00pm EST

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won in four times, 1935, 1940, 19 41, 1952. known as the i think he directed the african queen. i think he did. mr. tepper, thank you very much. neil it is yours. neil: thank you, neil. i want to thank my colleagues, david asman, jackie deangelis, ashley webster for filling in my absence. job security required me coming in. look at corner of wall and broad, the dow jones industrials, we have record number of covid cases, better than a mill in the daily count here. obviously this is something that is very, very contagious. this is playing out across the globe. it does not require at least
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nearly the icu care and extreme potential severe adverse reaction or death than anything we've seen up to date. that is at least the endoublinging part ever this but across the globe you're seeing moves right now to maybe get a boost in booster shots but at least in this country they're not changing the definition of what is to be called fully vaccinated. that is a moving target for some but so far it remain what is it is. with more on that let's go to lydia hu with an update where things stand with omicron. lydia. reporter: neil, we're following that breaking and developing news we're learning about in the past 30 minutes or so where the white house is saying there are no plans to change the definition of fully vaccinated to include a booster shot. this this is coming despite a month long campaign by the biden administration to promote boosters. right now fully vaccinated means if a person received their
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primary series of shots. shifting gears and looking overseas, there are early signs that the worst of the omicron wave in london is now behind the capital city which is giving some experts optimism that this variant spread will peak faster than previous ones. london saw omicron infections soar in december but official data shows reports of new cases are plateauing and hospital admissions are slowing there. some experts believe rates could begin to fall next week although the rest of the united kingdom does continue to see cases surge as the wave appears to lag two to 10 days behind lond dong. meanwhile -- london. back in new york city, eric ad maps is scolding big banks not sending their employees back to work. the decision he says of big banks will hurt economy
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especially impacting low wage workers. goldman sachs said employees coreturn to remote work in mid-month. also shifting to remote work, bank of america, citigroup, jefferies, jpmorgan. finally there is this, macy's is cutting store hours for the rest of the month as covid cases spike. retailers manage staffing shortages. from monday through thursday they open an hour eight lear at 11:00 p.m. weekend hours stay the same. a spokesperson will not comment to fox whether there is rising infections among retailers. walmart temporarily shut 60 stores to sanitize them. apple limited customer capacity at some of its retail locations. back to you. neil: if you think about all the airplane delays and everything else over the holiday period, a
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good many because of covid, pilots getting stricken this, added to that list. lydia, thank you very much. let's go to garrett tenney there is another wrinkle in this, concern in chicago among the teachers union, particularly omicron spread necessitated them going to the remote route. they got a rebuke from the mayor of chicago. what is going on right now? reporter: neil, negotiations are on going how these schools will be able to reopen and win, that will happen. yesterday president biden said schools should have all the resources they need to stay open given the emergency federal funding they received. here in chicago the district received just over a billion dollars in that funding and more than 100 million of that has already been invested into safety measures. this morning though the head of chicago's teachers union said with the current surge of omicron those measures don't go far enough.
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>> right now going into schools putting us at risk, puts our students and families at risk of contracting the coronavirus. that is a simple truth of the matter. we've been failed bit mayor, we've been failed by the public health and human services secretary alex azar office -- only thing we get to control is whether we go into the building. reporter: health officials say that is simply not true. all the available data continues to show schools are among the safest places for student the. they are not a source of community spread. and for teachers who are fully vaccinated and boosted there is almost no risk of being hospitalized due to covid. last night chicago's public health commissioner said right now any decision to close schools is clearly not about trying to do what is best for kids. >> in what world would we think to close something essential like in-person education when we have seen the negative effects
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of that when our bars remain open? no public health leaders in the world at this point think that makes sense. reporter: the union has a long list of additional safety demands which the city is trying to work with them on but school and health officials have been clear, these schools are already safe and they are only doing these negotiations to try and help the anxieties number of teachers clearly have. neil? neil: all right. thank you very much for that, garrett tenney in chicago. is that an overreaction of teachers there want to suspend in-person classes to go online? get a read from dr. an intern at north well health. thank you for taking the time. good to have you. >> good morning, neil. thanks for having me. neil: an overreaction, doctor? what do you think, shutting down in-person classes all together in chicago? >> absolutely an overreaction. it sound the awful like april of
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2020 sort of mentality. i live in westchester county in new york and my children's public school has been open really since day one. they have done a phenomenal job of keeping the schools open and keeping kids in school. the kids need to be in school. we really haven't spoken much about the unintended consequences of keeping kids home. suicide rates have gone up tremendously, especially in young girls and in boys as well. anxiety and depression have skyrocketed. one out of every four young girls has complained of anxiety and one out of five boys of anxiety and depression. it is getting worse out there. we have to keep the kids in schools, have to see their friends, see their teachers faces. we have to get a past a april of 2020 mentality. neil: doctor, there are a couple of developments going on there i want to pick your brain about.
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in israel talking about a five-fold jump in antibodies if you have a fourth shot of the pfizer vaccine. that is not just too shots and a booster, essentially two shots and two boosters? when does this to be overkill? >> i think we're there now, neil, people are saying hey boosters are working for omicron the evidence they're cite something that it is raising antibody levels. without getting too much in the weeds here, obviously the booster are increasing antibody levels but they're the wrong antibodies. they are antibodies to a virus that no longer exists, antibodies, to alpha, the wild stream, early forms of covid we're seeing in 2020. to raise the antibody level, i don't care how high you make them it will not help. i myself had covid, delta strain a month ago during the thanksgiving time.
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coincidentally i had my antibody level checked during my own routine physical a month before, my antibody level from vaccine regimen early on in the course was sky-high, and i still got covid. i don't care how high you make the antibody levels, i don't think it will really help. neil: can you get, even with the vaccine, we know breakthrough cases are familiar but can you get it even again? >> yes, you can. especially if you had an earlier form of covid back in 2020. omicron is so different than the earlier strains. i really think it should be considered sort of a new illness. the amount of mutations we're seeing on omicron change the characteristics, changes the symptoms. we're seeing more upper respiratory instead of lungs. people earlier forms we were seeing lungs were burning, getting out of breath with exertion. they're coming in with sore throats and cold symptoms. yes you can get it again but
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interestingly enough, studies are showing now if you had omicron you can't get delta. retrograde immunity. if you had the current form you can't get the earlier form. that is really good news. neil: you know a lot of people are relieved to hear despite record number of spikes in cases, doctor, i guess we had an all-time high in this country, recent 24 hour period, very few are seeing severe cases showing up in hospitals or intensive care units s that your read of it, that it's not fun but it's not super serious? i don't want to make light of it but how would you characterize omicron to this date? >> neil, you're absolutely correct. actually about ten minutes before this call i was scrolling through my email and i had a update from the hospital that i'm on staff with here in westchester and the cases have gone you.
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up. there are cases. icu admissions have not increased. there is plenty of icu capacity across the system i work for. we're not seeing severe cases. i personally have not put anybody in the hospital with covid for weeks. i have tons of cases, over well misdemeanorred, more challenging periods of my career because of volume of calls and visits but they're overwhelmingly mild. i'm dealing more wh the mass hysteria, oh, my god i have covid what do i do? dozens and dozens of these calls. neil: you seem to be a very calming presence, i appreciate that, but i'm curious about your take where all of this is going? some interpret it next few weeks as final throes of this before things stablize. you're the doctor, i'm not. where do you see this going? >> i agree with you, neil. i do see that. i think we're going to peak here in the next couple weeks. south africa is on thedown
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swing. they saw a 30% decrease in cases last week, they were 30% down as reporter said earlier, the uk is stablizing. this was a very quick wave. i think our wave is still cresting. i think we'll see increase in cases in the next few weeks but i think we'll start to see a downswing i hope in the next two or three weeks and if the studies hold that the immunity con third by omicron is lasting and broad, meaning that it will cover the current forms, the previous forms and we really should get some immunity for the future variants because now there is talk about another one, ihu out of france. that is never going to end. neil: reading about that. how serious is that one, doctor? i've been reading more about it. the world health organization, i wouldn't say it is does missing it, doctor, but it is not alarmed by it but what do you think about that?
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>> it is really too soon to say. i have not seen enough date to make a distinction but if evolution holds this is the way it works for viruses. they become far more transmissible and vaio againic but they become milder because that is how virus works. if a virus kills too quickly, it doesn't spread efficiently. forms that spread efficiently through the population are milder strains that let you walk around and cough on other people. interesting, omicron is virtually transmissible as measles, one of the most transmissible viruses we know about. we've never seen anything like this, other than measles which has been held as the gold standard of the most transmissible viruses that we've ever seen. this is right up there with it. neil: all right. doctor, thank you very much for taking the time and keeping us all calm. i think we all need to do this, especially me, doctor. dr. frank contecessa at northwell health. good read on all of this.
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we'll explore later about some actions foreign governments are taking to make sure the unvaccinated get vaccinated. interesting story out of france where emannuel macron says gone on record saying he wants to quote, piss off the unvaccinated to make life so difficult for them they do get vaccinated. now the unvaccinated there have, well, told him to piss off. we'll explore and explain after this. ♪ limu emu and doug.♪ and it's easy to customize your insurance at so you only pay for what you need. isn't that right limu? limu? limu? sorry, one sec. doug blows several different whistles. doug blows several different whistles. [a vulture squawks.]
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♪. neil: all right, everyone is worried about inflation but so far don't see it at the corner of wall and broad. charlie brady, senior stocks editor follows all the numbers for us not like anyone on planet. he reminded me we hit all-time high after hitting a high yesterday. this continues. some concern for technology stocks are still there. all of big tech is not going along for the party. some of the growth stocks charlie mentioned earlier were under some pressure, decidedly less now. we'll keep an eye on that and inflation and omicron and later today what fed officials were discussing might telegraph, how quickly they may ease rates, ease off on the treasury securities buying all that stuff amidst this inflation backdrop
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is anyone's guess but a guy who has pretty good idea that has zigged while others zagged, john catsimatidis, runs a grocery chain, and he has the midas touch. i think people would say that. john, good to see you, happy new year. >> happy new year. we hope it is a happy and healthy new year for all the listeners and everybody. neil: right with you. let me ask you, you're on the front lines, you see it on the oil front and the grocery front, the inflation issue. brent sea crude in and out of 80 bucks a bear. we'll see how far oil producers go in our own contracts. what are we looking at inflationwise you think? >> inflationwise it will continue to go up we saw our christmas pricing going up at
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least 10%. food prices will continue to rise. we have seen a lot of manufacturers raising prices for the month of february and march. the rise continues and the rise on oil, that dropped down thanksgiving friday because of that covid announcement, it is all, yes -- [inaudible] i'm looking at 85 if -- [inaudible] program continues with our white house, could be 100 by summertime. what i called for is the white house should stop the war on north america. turn on the spigots in alaska. turn on the spigots in canada. allow them to sell us crude oil and crude oil could go down $20 a barrel if the white house allows it to do it. why are we making russia, why
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are you making opec nations rich and paying them $80 a barrel when we don't have to? we can pay it to alaska, pay it to canada, just turn on the spigots and the price of crude oil will go down. neil: you know we do forget, john, that oil is traded in the market a move like that even though it would not have material impact in all the supply, it would change the psychology. so prices probably would subside with that. i don't envision the white house doing that but when it comes to inflation it seems to be pivoting a bit, it there are other factors, cabal to fix food prices, grocery store prices, even gas and oil prices. what do you think they are saying that there are other sinister forces at work? >> as one of our old friends use to say, they're full of crap.
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crude oil, the price of oil has caused all these price increases to go on transportation costs, to get to the stores, on transportation costs to get the product to the marketplace. stop the war on north america. allow canada, allow alaska to turn their spigots on. crude oil will go down $20 a barrel and we can solve most, most of our inflation problems. otherwise if we don't do that, we will, the inflation will continue to rise. prices will continue to rise all through the spring, all through the summer and. the other cause that is, pick your poison. i last week predicted a 40,000-dollar market based own, based on inflation. all the ceo's have increased
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their prices and they're trying to stay ahead of the curve. so they're going to have a great fourth quarter. they're going to have a great first quarter because the ceo's are, the corporations are staying ahead of the curve and raising their prices so they're going to have good earnings. so will that cause 40,000 market? i believe so. neil: real quickly, mayor eric adams in new york has been scolding a lot of the big banks in new york city for all this remote work amid the covid surge. he says it's a mistake. it is certainly not going to help new york. how do you feel about that? >> well the good news about covid is, as your previous guest was saying, this omicron seems to be killing all the other viruses. [inaudible]. neil: john, i apologize. we have some audio, we had some audio difficulties with you, john. it goes in and out.
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i apologize for that. john catsimatidis, united refining company ceo. red apple, all of that stuff, looking at inflation very closely, looking at some of the promising development es we're seeing on the covid front it is still out there. we hope omicron calms down. we'll get the read from kevin hassett, former trump economic advisor. his read on some people quitting their jobs. that is a sign people are confident they can do that. but what are the repercussions for the economy? after this. ♪. ♪♪ ♪♪
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♪. neil: you know this is really remarkable if you think about it. we learned yesterday four 1/2 million people left the work force, they quit their jobs and
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maybe greener pastures, other opportunities. they just had it. this the month before coming with 4.2 million doing the exact same thing there are 10 1/2 plus million job openings in this country right now and very few takers for them. edward lawrence has been monitoring all of that. joins us from the white house. reporter: in addition to good news snowing some people are going back to work. adp private payroll report showed 807,000 jobs were filled, added back to this economy but companies still struggling to find workers, not because everyone has a jock but as you mentioned because there are 10.6 million job openings, seven million people unemployed. they're just not matching up. the white house struggling to explain why this is happening along with also there, the number you mentioned, record 4.5 million people who quit a job in november. republican representative byron donald says he is frustrated because there is a lack of planning under president
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joe biden, exacerbating this irissue. >> could focus on the cope being prepared instead of "build back better" instead of blaming your opponent. reporter: white house press secretary says covid is reason people won't take a job. >> that there are many people fearing going back to work. employers taken steps to provide certainty in the workplaces. reporter: if you follow the logic the unvaccinated are the big reason we have 10.6 job vacancies 7 million people unemployed. the president has no public events on the schedule today to clarify his position on this. neil? neil: edward lawrence thank you my friend. edward lawrence following all of that at the white house. kevin hassett, you remember
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kevin, the former chair of coins of economic advisors under president trump. kevin, good to see you again. >> good to see you too, neil. neil: let's get the sense of economy, inflation first off. that gets a lot of attention. the federal reserve might address or telegraph what it plans to do this year when we get the minutes from the last meeting from a little over a month ago. what do you expect they'll do? >> right, well the fed has to start cracking down on inflation. right now it is running at a 7 or 8% rate. i think it is gathering momentum going into the year. so if the fed doesn't act now it is really extreme misconduct on their part. folks who are worried about higher interest rates and waiting to buy a house or something, i think they should get out there to do it soon, interest rates will like are go up three or four times next year. neil, if you or i were at the fed we would have lifted interest rates already, and probably going 50 basis points, a shot. because inflation is really out
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of control. neil: really. >> it takes a long time to get it into control. neil: a quarter-point hike, i'm sorry, quarter-point hikes, you don't envision, might end up being that but you think what is warranted, when you do raise rates, raise them half a point at a time? >> right. and you and i are old enough. i think i'm older than you. we're old enough to know when the fed lets inflation out of control they have to hit the economy with a hammer. they're coming at the economy with a toothpick or something. variabilitily if they want to get inflation under control they will have to be super aggressive. my guess we won't see the aggressive part until after the midterm election. neil: when the white house takes a look how it sees things factoring out this year it thinks a lot of the supply chain worries are going to be easing that the spikes we're seeing will start being, well less spikey and things will stablize certainly by the second half of the year. do you buy that?
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>> well you know they kept saying that the inflation is temporary. no, i don't buy it. the fact is that the biden administration's economic policy has been to systematically attack supply. if you go to a socialist country, you go inside of a store the shelves are empty. it is not a temporary disruption. if you look at heavy new regulations, energy regulations you were talking about, the threatened tax hikes that is attack on supply. it is not a temporary phenomenon. frankly inflation is spinning out of control. i think joe manchin saved us from high double-digit inflation by standing in front of "build back better" which is a misnamed bill but frankly the biden administration has done everything wrong. it is economic misconduct. there is no graduate class that would defend what they're doing. it will lead too a lot of misser riff in the end because inflation is out of control. neil: do you know any of these nobel laureates who will
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apparently give the economy, "build back better," a boost and therefore shrink deficits? i don't know any of them personally or how they come to that conclusion but how do they? >> frankly, i thought it was a little tawdry because they appear to have been organized by janet yellen feels like to me. it is really a partisan document with very little if any economics or added economics backward. i would be happy to come on the show to debate any of them. if i did that, they would lose. any undergraduate if you feed demand, attack supply, that makes prices go up, output go down. that is what is going to happen. i don't know if we're running out of time i want to talk about what jen psaki said because it is so wrong. all the people quitting their jobs, she is saying because of omicron and covid and unvaccinated. well the fact is that labor force participation has dropped sharply under joe biden. state really, really low. it hasn't recovered and it
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wasn't recovering before omicron was an issue. it is not just covid that the is problem. a new paper out at the national bureau of economic research shows all the big subsidies they have given people not to work had a big negative effect on employment. written up at "the wall street journal," that article. biden policies are why labor force participation is low, not covid, not omicron. they will basically blame covid and trump presumably all the way to the next presidential election. american people, if you look at joe biden's approval, they are not buying it, if they had a jen psaki approval it would be worse than biden's. it is so obvious she is saying things that are not true. neil: so many shored up balance sheets that they can do this? >> yeah. when you look at the, fine tuned numbers, the thing that jumps out at me is that it's people over 55 that have not gone back into the labor force disproportionately. you know they are the people who are most at risk.
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they do, i think explains some of the supply disruption because a lot of truck drivers are you know, men and women over 55. a lot of people who work, longshoremen, are older people because unionized and they haven't been letting a lot of young people into the profession. so you know, it is the people over 55 especially that are not going back. pretty much at every age cohort, both male and female people are not going back. but older people not going back more, that is the one little bit of evidence might be consistent with what saki is saying. people got used to not working. they found they had enough money. they enjoyed staying at home with their families. that is something that will stick with us for a long time. neil: i would be curious, kevin, enjoyed having you, donald trump contemplated or maybe preparing announcement he thinks people will be very glad to hear, potentially running for president again. we don't know what that decision will be but if he does decide to
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run would you be an economic advisor for his campaign? >> well, i don't know if he would ask me. i did have a small dinner with him down at mar-a-lago couple months ago. him running again didn't come up. he has lost a lot of weight. he has ideas how to fix the country. he will find a friend he wants to support in the presidential cycle. he has not talked to me. i 100% would support him and help if he asked. neil: usually when a candidate is losing weight, doing that, getting ready to run. not all the time, just for health purposes, which is not a bad idea. if he pulls the trigger on that would you help the campaign? >> yeah. sure. absolutely would, yeah. if they asked. neil: got it. kevin, always good seeing you. >> the fact is that the economic, i was going to say the economic story of the trump administration is so strong it
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is easy to talk about the accomplishments over and over with facts. it is so much better than the biden economy, trump if he did run would have a really easy economic case to make. neil: all right. we'll watch it closely. kevin, very good catching up with you, thank you. >> thank you. good to catch up too. neil: corner of wall and broad, dow down 100 points. no indication of donald trump will run again. kevin hassett a sign if he does suit up he will be there. more after this. ike and a full tank of gas. their only friend? the open road. i have friends. [ chuckles ] well, he may have friends, but he rides alone. that's jeremy, right there! we're literally riding together. he gets touchy when you talk about his lack of friends. can you help me out here? no matter why you ride, progressive has you covered with protection starting at $79 a year. well, we're new friends. to be fair. eh, still. before discovering nexium 24hr
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♪. neil: all right. airlines have been canceling more flights. you thought it was during christmas. extended right up to knew year's and after new year's. talking about thousands and thousands of flights. casey stegall in dallas airport with how things are looking right now. reporter: neil, things looking good at dfw but other parts of the country especially lay areas
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hit with the big winter storm. more than 1500 cancellations are being reported across the country. that according to and more than two thousand delayed flights currently in the u.s. according to that website, chicago o'hare airport is leading the nation for most cancellations and delays. it is fluctuating all morning. now followed by denver, number two, that popped up there, newark, number three and minneapolis st. paul. covid is also to blame, not the weather, many analysts say, many carriers and federal airport workers say they contracted the covid-19 virus and that has own i added -- only added to the scheduling issues. >> laid off a lot of workers. even when they didn't they grounded a lot of crew.
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when crew are grounded they just can't hop right back into a plane and start again. if they're out for very long they have to retrain. reporter: some of the airlines are also offering things like special cash incentives to workers who are healthy enough to work, neil, able to pick up over time some of the missed shifts. some cash payouts, things like that. just trying to get enough staff to keep these flights in the air. back to you. neil: like you said, easier said than done. casey stegall, thank you very, very much. by the way traveling on the roads has not been any easier especially if you're in the virginia metropolitan area. that is where you find katy byrne of fox weather, nightmare after the storm. how are things looking now, katy? reporter: neil, looking a lot different than yesterday and day before on this part of i-95 where some drivers were stuck here more than 24 hours. we know all the drivers who were
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trapped on the highway were able to get out last night at five. no one was hurt t started with the snow on monday leading to six tractor-trailers crashing and traffic coming to a standstill. officials decided to close down a 50-mile stretch of the highway. some people were trapped there overnight. turning cars on and off every hour. to stay warm. not run out of gas. i talked to a man stuck there for eight hours. he said he didn't see a single official until seven hours in. he noticed drivers passing out food and water to each other. his car died five hours into his wait. someone gave him a jump. he paid it forward walking down to the next exit in front of him, about a mile. him and a group of others had shovels. they started digging out tractor-trailers themselves. >> at least one the first tractor-trailer going out, we got this. he was like the main blocking the other one. then the other one was blocking all the other cars that was stuck too. we knew we had to get them out
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first before we had a chance. reporter: then he had to run back all the way down to get to his car to get with the traffic, get out of there. virginia's department of transportation is facing some criticism over the roads and if they were treated properly before that snowstorm came. they said they couldn't treat a lot of the roads because there was rain before the snow. that rain would have washed the salt away. so we're expecting them to do a review of this incident. we know that these roads here, this stretch of the 95 has been fully back open since 8:30 last night but more travel problems as they head to secondary roads, route 1, was the big one a lot of people were diverted to yesterday. a lot of gas stations are out of gas because people had to refuel spending the night in the car. neil? neil: incredible. winter is only two weeks old. katie byrne following that in
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fairfax, virginia, fox weather. they do a bang-up job. if you don't have the app you need to get it. it is wild. punch in a event planning to have months out. i don't know if they accurately give, i am sure they give it accurate but it is a great app. the push for electric vehicles. our liz claman is seeing it first-hand at the consumer electronics show. she will be joining us after this. ♪. your record label is taking off. but so is your sound engineer. you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates matching your job description. visit
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♪. neil: no rest for the weary especially when it comes to our liz claman. she travels everywhere, gets everyone. right now at the consumer electronics slow in las vegas where electric vehicles are all the rage and being touted but what is interesting, i think she is at vegas right now. liz, now gm is upping the ante, right? liz: oh, yes, gm in an hour or two will unveil the silverado here remote from detroit. they pulled out due to concerns about omicron. we're here, it sounds cliche but the show must go on. this is all vaccinated show. you have to wear a mask. but journalists have been given go ahead, during live hits as
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this one we're allowed to take off our masks. it is quite incredible seen here, incredible, fewer crowds obviously. a lot of dropouts but 2200 exhibitors as of last friday have been bumped up to 2300 exhibitors. many are small businesses. we're in the west hall which is all autos. detroit meets las vegas. this company is a korean company works on the future of work. we showed it to you during my show yesterday. this is all agricultural tech, robotic apple picker. so no bruising, no sticks, no leaves put in. it doesn't squeeze very tightly. doesn't ruin anything. no risk of pickers falling off of high lad is. we showed you that yesterday. now i want to show you an incredible thing they have put together. did you know that dusan is the parent company of bobcat? bobcat just announced this here at the show, the t-7 x.
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first all electric come pact lift. currently heavy machinery runs on hydraulic fluid. they leak. they need on sight structure to fill the tanks this, is zero emission. you see how it looks like a regular bobcat. all it has, very few come points t has a mother and a battery. and all electric. so the emissions issue is really important here. zero emissions. zero vibration, zero components beyond the battery and the controls. already made in north dakota. this is where the company is based but this one over here, might be the real game-changer. that is a lift. this is an actual digger, right? this is an excavator. it is called the e-35. it is all electric but more importantly, do you see our friend mike who is in there right now? that used to be what was the front window. it is now an oled screen, all
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touch-screen. this way, with five different cameras on it, they can see a 365-degree view. that means it is also touch-screen. safety issues, really get into play here. much safer, they don't have to turn the next, maybe miss somebody. you can see right here, this is the actual machine in denver that is moving, so we give you the visualization. neil, as we finish up dusan is the company working very hard to show how robotics work with human beings. this is mindy. be careful frank, when you step down here. this is the colbo. collaboration. she is a drummer. hit it, mindy. robotics start to play. can you play really quickly? >> [inaudible].
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liz: okay. okay, so, neil, as you can see this place is all gadgets and gizmos. but real world importance. we'll bring you everything including 3:00 p.m. eastern, mary barra of general motors, unveiling a all electric silverado. i wish i can show you one thing, neil. it is the labrador. it's a nightstand that is robotic. which bring you the pabst blue ribbon so you don't get off the couch. neil: liz, thank you,ces, consumer electronics show from vegas. a lot of people are there but a lot are not there. kenny polcari, a lot of people talked about technology, and daimler cars 600 miles on a
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charge. sony in the game, new players. chrysler hoping to have and all ev lineup next five or six years what do you think of all of this? >> listen, i think it's great. to be clear i'm all in on electric. i think we're having a problem with infrastructure, electric infrastructure in this country, right? i would buy an electric car hands down except where i live in florida there is no place for me to be able to plug it in convenient. i live in a condo, building, built 50 years. they don't have the infrastructure. it is impossible for me to own an electric car because i have no place to charge it. that is a lot of the problem. i don't think a matter of people pushing back saying i don't want to do electric. it is about the infrastructure and how you will make this work. think about even in new york city, how would people charge their cars? where will you put enough charging stations in a city to charge it? that is going to be the issue as we move forward. we can solve it i'm sure but that will be the issue as we
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move forrd ward. not the car itself but facility to keep it charged. neil: where do you find them. are they all compatibility? you have various ones i'm jumping on you with the tight time here, thank you very, very much, my friend. the dow is up 100 points. record territory right now. stay with us. ♪. n you're an owner with access to financial advice, tools and a personalized plan that helps you build a future for those you love. vanguard. become an owner. ... i absolutely have to be sharp. let me tell ya, i was struggling with my memory. it was going downhill. my friend recommended that i try prevagen and over time, it made a very significant difference in my memory and in my cognitive ability. i started to feel a much better sense of well-being.
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neil: all right, joe lynch in the center of yet another controversy among some democrats he might or might not be open to changing the whole filibuster thing, but it certainly wouldn't be for build back better. it might be for voting rights measure the democrats are considering no clear indication where he is going on this. he certainly doesn't want to give up the filibuster. let's go to chad pergram and where things stand right now. reporter: maybe with that pat be netar song "i hate myself for loving you" or something like that. senate democrats are trying to convert gop obstruction to a voting rights bill into an election issue but senate minority leader mitch mcconnell says democrats assume their approach is popular. mcconnell says the true big lie in his eyes is when democrats accrues state legislatures of attempting impede voting. >> i think they assume that people who get elected to the legislatures are idiots. they get elected by the people too. the notion that some state
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legislature be crazy enough to say to their own voters, we're not going to honor the results of the election, is ridiculous on its face. reporter: democrats want to offer the filibuster to pass voting rights. it's a new year, but democrats face the same old problem. democrat joe manchin is leary of institutional changes. >> i've always been for rules being done the way we've always done, two-thirds of the members voting, and anyway you can do it rules change to where everyone is involved. reporter: senate majority leader chuck schumer knows they need manchin on board to update the filibuster. >> there are many different proposals out there, and our caucuses is discussing them. it's a long, hard struggle, but we are engaging in that struggle , with the hope that we can all come together because of the reasons that were cited here , our democracy is at risk. reporter: 17 years ago, schumer predicted doomsday for the
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senate. if republicans then in the majority alter the filibuster, democrats are considering requiring senators to actually hold the floor if they want to block bills and not just do it, from afar. neil? neil: chad pergram, thank you very much, my friend, chad pergram following the fast- moving developments on capitol hill. to aishah hasnie right now on well, make it 25 democrats in the house who are not seeking re-election. the list seems to grow by the day, aishah, what's going on reporter: kind of feels like it ramped up a little bit around the holidays and now it feels like about every week we hear about another democrat announcing their exit plans, now we have two more in the last 24 hours, congresswoman brenda lawrence from detroit announcing late last night she will not seek re-election. also long time chicago congressman bobby rush is also retiring although he made sure to tell the press look, i'm not cutting and running ahead of what is expected to be a bloody mid-term for the left, so yes,
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now, that brings the current tally of departures to 25 house democrats, several holding powerful committee positions, as opposed to just 12 on the gop side. democratic caucus chair hakeem jefferies has previously said look, retirement s are expected during a redistricting year and that is definitely part of it, but this wave is only expected to grow, the left is facing some pretty strong headwinds in the mid-terms as they try to keep their very slim majorities of presidents sinking approval numbers sure don't help neither does the party in-fighting and of course their inability to move major pieces of his agenda across the finish line. minority leader kevin mccarthy called house speaker nancy pelosi a "lame duck speaker" as democrats try to pushback on this question of how the speaker can deliver if her members and possibly even herself are on their way out. >> still fighting to make sure we retain the majority. she has a lot of respect across
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the caucus, and the president and i don't think anyone is saying whether we know or not what she's going to do next term that that impacts her ability to deliver. reporter: and neil, congressman ro khanna saying he acknowledges that the democrats have to address inflation and covid and if they can address those two huge issues in the next three months, he thinks that they still have a pretty good chance at the mid-terms, neil? neil: we shall see , aishah thank you very much, aishah hasnie following these developments on capitol hill been a busy year for her. all right scott bolde nfl joins us the former washington d.c. democratic party chairman. scott, great to see you, happy new year. >> good seeing you, happy new year to you as well. neil: thank you, when 25 democrats are saying we don't want to try for re-election, normally the interpretation is that they've lost faith that they could even win or that they're just tired of this and what could be a republican
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congress. what do you make of what's going on? >> i think it's a combination of factors. some have health issues, others are being redistricted out of their districts, if you will, but what i hear more in my conversations with folks like lucy mcbath who is running in district 7 in georgia, or anthony brown in maryland whose leaving to run for attorney general, is just the utmost frustration and the stress of not being able to get anything done. there are a lot of other reasons but that seems to be the driving force, now, remember these are democratic districts, and so the democrats have to go find really strong democratic candidates to run. in and of itself it doesn't mean the republicans that those districts are going to turn republican so we have to keep that in mind. neil: do you think president biden is going to face a challenge within the party? >> [laughter] you asked me that before and i'm not going to take the bait this time. he says he's running, and that means anybody else who thinks
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they are going to run against joe biden, that's just not going to happen. the real question is, if he doesn't run, right? neil: it has happened, right? linda johnson was challenging before he quit the race because he was challenged and didn't do as well in new hampshire. it happened to gerald ford when he was challenged by ronald regan he got the nomination, went on to defeat so a challenge , whether it succeeds or not, can be the undoing of the president in power, right? >> that's right. that's why it is a last resort or there has to be something don't forget about jimmy carter and kennedy as well but it normally doesn't really work out neil: i'm too young to remember that, way too young. >> [laughter] i remember it for some reason. neil: i bet you do and it's a good example. what do you think of that? its been all sorts of talk that the party is quietly frustrated with biden. is there any truth to that? >> well he certainly is doing a better job than trump, if there's anything, it's quieter, we've got a lot of challenges, and, you know, the issue is did
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the voters vote for biden or did they vote against getting rid of donald trump? there's no buyer's remorse if you will, i think the countries doing better but we can't get our arms around this covid piece. neil: do you really think that? >> yeah. neil: they're not so sure. >> well, we said 70% of the country is vaccinated now. we've got a vaccination distribution piece. we passed a number of pieces of legislation. neil: a million cases just yesterday. that doesn't look like -- >> but why is the president responsible for that? he certainly is the leader but do everything in his power to get people vaccinated, while donald trump and the gop -- neil: he was blaming donald trump for everything that wasn't happening on the vaccination front, when he was president. >> but he wasn't a big proponent of the vaccinations. he got covid and came out and said i beat covid through some other drugs other than the vaccinations, and so when you've got republican forces pushing against you, in regard to a health issue, a pathogen,
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if you will, if we could just get to herd immunity and that means regardless of first amendment get everyone vaccinated we'll have a better chance to eliminate. neil: now i don't think it was fair to go after trump on that issue when he was president, probably not fair to go after this president on this issue, but the fact of the matter is, there are now more people who have died of covid under this president than the last president and we're still in a world of hurt, dealing with this >> and most of those who have died are anti anti anti- vaxkxer k. neil: do you worry this is getting out of control? i know they are looking for things to calm down in the second half but if that doesn't happen, all bets are off , aren't they? >> i don't know if all bets are off but it's going to be a pretty important issue. i don't know if it's going to be decisive in regard to the race but higher prices, this isn't transitory, i think we can all agree to that.
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we've gotta do something about that and his economic team of advisors had better start working quickly and more efficiently and get something going to fight that inflation, at the same time though, the rest of the economy is doing pretty well, and they've got a story to tell after one year. neil: all right, well, the inflation part that doesn't necessarily jive with the economy going well. i understand what you're saying coming off of when the economy was stopped we'll see price hikes but those price hikes are not deciding, does it worry you -- >> yeah, but the employment rate just went down 2%, people are spending money, and while the prices maybe higher, and that's difficult, and there's this perception of this piece, the president is working hard, but you've got a covid economy now, but the difference is, you have a president who is fighting hard on the covid front, with trump, you didn't have a president that was fighting hard in regard to being vaccinated. he worked hard to get a vaccination developed but he didn't do anything to stop the
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spread as far as having super spreader events and not wearing a mask and what have you neil: we can go back and forth on that, but we'll go past each other on this but i will be curious of one thing, your impression of the president and his performance and some are saying, you know, maybe he's just too old for this job. press conferences and remarks, look i'm not one to criticize older people. i'm old myself. >> [laughter] neil: i'm not going to judge but do you worry that that is beginning, he's beginning to show that, and it's worrying people. people who love the guy too, that they are worried. >> that's a republican narrative. i don't think that's a democratic narrative. i don't think it matters how old he is. neil: i don't know, i don't know , i hear it from a lot of democrats, certainly from republican friends. >> well can you name three? can you name three democrats who have said that to you, on the air. neil: well not on the air. that's a good point. >> okay, all right so i still say that's a republican narrative. neil: you've gotta say, you're very fast on your feet, when i
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have you on, you have a lot of the key positions eloquently, tightly, concisely, and i never hear any nonsense, i never hear you wandering away. sure you'll be old pretty soon and probably do that left and right, but for now, you're right on the game. the president, fairly or not, is not. i mean, i'm not saying that, he just seems old. >> well, we're all getting older everyday. the question is he capable, competent and can he be a consequential leader and he's demonstrated that. that's not a party line, it's based on what i've seen. listen as you get older, you may not project the right amount of energy, if you will, but is he getting the job done, does he have a support team around him and i don't see him slowing down emotionally or intellectually at all, and he's reliable, and he continues to fight that fight that maybe the party line but that's what i see and i think that's important for america to
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see. neil: so you won't privately tell me, neil i'm worried for the guy. he's kind of losing it. you're not in that camp? >> [laughter] i wouldn't tell you that private ly or publicly. i'd say he's doing an excellent job but listen he's not going anywhere and until he says he's going somewhere you can't look beyond him or look at other potential democratic candidates or even republican presidential candidates. he's there, and if he runs again , i think the parties going to be behind him. neil: we shall see my friend very good seeing you, i tried to get you to slip up, scott bold en, the former district of columbia, democratic party chairman, we have a lot more coming up including what's going on in chicago right now where even the mayor of chicago is telling teachers who want to go all online they're way out of line, stay with us.
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neil: all right, here's how bad things are getting in chicago. the mayor spoke out against teachers they're deciding to hold classes online because of the omicron spread. grady trimble has the latest on where things stand right now for the kids and their parents. neither of whom are psyched about any of this , grady? what's the latest? reporter: they're not, neil. the mayor and the union have
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long had a contentious relationship but even public health officials here in chicago and federally, dr. fauci, they're saying schools should be open, and so is president biden. he went on yesterday and said that schools here and everywhere should be open right now, yet 73 % of chicago teachers union members voted yesterday to shutdown in-person classes. the chicago public school ceo said they're not doing classes in-person without the teachers but they're also not going to do it virtually so there are no classes whatsoever today. in discussing why schools should be open, president biden pointed to the $122 billion schools across the country got from the american rescue plan. look at new york city, la, and chicago. they got a huge bulk of that, almost 10% of it. they got even more money when you count the previous stimulus packages, yet the teachers union here says the district has not done enough with that money, they say there needs to be more
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testing in the schools and the district needs to handout better masks. >> they went out to the states and the states and the school districts have spent this money well, many, but unfortunately, some haven't. >> when our district was solely remote our children suffered. there's no disputing that reality. reporter: across the country, more than 3,700 schools are either closed or fully remote right now. that's largely because of teachers getting covid and having to quarantine, not because of strikes like we're seeing here in chicago, and by the way the chicago public school system says they're not opposed to shutting down schools if there's a surge in covid cases or a teacher shortage at an individual school, but they say that these district-wide shutdowns brought on by the teachers union is not the way to go rate now, but for now, this is how things are for the foreseeable future with this impasse between the
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district and the union. neil? neil: thank you, grady trimble in chicago on that by the way not only in the chicago and wisconsin area, a good number of school districts are also going this route, delaying return to classroom as these covid cases particularly omicron cases rise. my gallagher a wisconsin republican congressman kind enough to join us. congressman happy new year to you. i imagine for a lot of parents, this is not happy timing here in a lot of districts in your state what's going on? >> it's a nightmare for parents , particularly working class parents, in wisconsin. i mean, we've seen the devastating effect that lockdowns and school shutdowns have had on our kid's education over the past years, and the idea that we're going to go back to this failed policy, this fear-induced policy, is only going to cause our kids to suffer more, and i can't help but reach the conclusion that we have teachers unions who are holding our kids hostage, and
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allowing ourselves to be dominated by the same fear which is dominated our lives for the last two years, fear which we're now passing on to our kids. i just believe this is not scientific, and look at the skyrocketing cases of anxiety, depression, and suicide among kids. we cannot go back to this and you're right. it's not just crazy cities like chicago. here in wisconsin we got schools in madison, milwaukee, even here in green bay, the capitol of common sense usually, were considering shutting down schools again. please, i am begging parents, democrats, republicans, independence, we need to unite in opposition to this dangerous nonsense. neil: i don't know how it applies across the state, congressman or even in your district, but i imagine kids have to wear masks. what are the requirements for those who do have in-person classes at least for the time being? >> it depends by school district and school as you could imagine a lot of the public schools are more on the risk
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side of the equation requiring masks, where private schools are not. listen, we now have public health officials saying that cloth masks, which is what our kids are wearing, right? our kids aren't wearing n-95, they are wearing cloth masks that are usually not over their nose do not work to prevent the spread of omicron. i see no scientific justification for masking children and i would go further and argue that if you limit a child's ability to interact face to face and to queue off of facial recognition, you are having a massively adverse impact on their ability to learn and look at the numbers. we haven't tested half the kids in places like milwaukee and madison but recent tests for those we did last year show that in milwaukee, 60% of kids failed. they are the lowest category for mathematics, 40% in madison schools right now, we're failing these kids, they are going to fall further behind, we have to move forward, we have to keep schools open, and we should not be masking our children.
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neil: if i could switch gears, congressman, a little bit. we're going to be getting some news out of the federal reserve today that actually goes back to a meeting a little over a month ago which are likely going to telegraph exactly how they are dealing with inflation. some of your colleagues have been urging the federal reserve to start hiking interest rates and soon. do you agree with that? >> i do. i think it's long overdue. i think we've gotten drunk off multiple rounds of qe for the last multiple years, and at some point, that has to stop. we have to correct course, and that time is now. we can't continue to double down on the policies of the past and inflation is a real concern for working class families especially in my district. it has a disproportion at impact on those who are living on a fixed income, and those who are in the lower side of the socioeconomic spectrum and so i do think right now we have to take steps to correct that. another thing we can do and sort
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of separate from fed policy is when it comes to energy policy, right? i think the biden administration 's energy policy is nonsensical, to wage a war on domestic energy production is a gift to america's adversaries abroad and the price is being felt at the pump and that hurts working class families in my district and it's not acceptable and it's something in our power to turnaround and i urge the biden administration to change course. neil: got it. all right, congressman, always good seeing you hope you have a happy new year, mike gallagher, the wisconsin republican congressman, and qe which he was referring to, the quantitative easing, the federal reserve's practice for years of scarfing the treasury securities, mortgage back securities he could find to keep interest rates low and they are unwinding that we'll find and get details later today as to how much he'll be unwinding and that and how soon they will be raising rates all with a back drop of other news in washington including revelations that the irs is already monitoring
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what you're doing when you have transactions as low as $600. why are they following that? why are they following you? after this.
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neil: all right, you know, the markets are doing pretty well today back and fourth trying to weigh the omicron cases which are many but not really too severe so there is that and inflation concerns are already out there and then there's bitcoin out of the blue, this goldman sachs report that says it could easily top $100,000 a coin by the end of the year. let's get the read on all of these fast moving developments with our own susan li. >> happy new year, neil, great to see you back. well one of the most influential wall street banks says that bitcoin is going to six figures a lot of people tend to pay
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attention so goldman says bitcoin could cross $100,000 to compete with gold, as a value and that's because right now, bitcoin is only worth $700 billion. gold is worth almost four times more, that means there's a lot of catch up of bitcoin could do and that means the price could go up a whole lot more and the crypto world is buzzing about today, the biggest nft crypto art marketplace called open sea was just valued at $13 billion, and that is only worth $1.5 billion a year ago, and it's really indicative of the explosiveness of the nft's which is a non-fungible token market you know so much about and from growth to implosion there are concerns around the world. china's real estate has been ordered to destroy dozens of buildings on a manmade island in southern china. now this company is one of the most indebted real estate
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companies on the planet and there are concerns that ever grand may not be able to pay which as you know had wall street sweating in the fall-time meantime you have chinese stocks outperforming after being sold off overnight in china and in hong kong but still there are concerns that china with its zero covid policy might be staring down a sharp economic slow down and that could impact the rest of the world including right here in the u.s.. finally i want to get your thoughts on this video that's gone viral on social media today the future of grocery shopping in the metaverse, so walmart has provided a demonstration mock-up of what it's like to shop from your computer and from your couch. now i kind of like it, but neil, there's a lot of different opinions up there on social media, some have called it minority reports, uninspiring, how do you test the beer, really i'd be curious to hear your thoughts. neil: i have seen it, susan. it looks pretty cool to me because if you know what you're getting and let's say you have a list and you know what you're getting and you know what that
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beer or whatever would taste like it's a pretty cool way to go. >> but you have to get the hats and gloves. there's no premium for the service but walmart had this direct-to-fridge delivery that has expanded to 30 million it's another talking point people are mentioning on social media, but you need the gloves and headsets to do this in the future. neil: oh, i didn't know that. well that could be a problem with bakery goods, that's good to know, susan that changes everything. happy new year, my friend thanks for all your incredible hard work, susan li following those developments. all right, we've got hillary vaughn joining us she's been following, of course she's like a dog with a bone, on anything that's controversial but this latest push by the irs to track transactions as low as 600 bucks. i thought this was put off or put away or dismissed, but i guess it's on, hillary. explain. reporter: neil, it kind of snuck
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in without anybody noticing, back in march, the american rescue plan that president biden signed into law inside of that, it had a new reporting requirement for people that use these third party payment apps like zelle, venmo and if you get $600 or more in payments for goods and services, you now need to report that and file a form to the irs. the idea is not necessarily a new task but to make sure that people are not cheating on their taxes, but a lot of people may not have known that they needed to file and report this income to the irs, so a lot of small businesses that may get tips or payments from their clients or customers through these third party apps, may have been under reporting their income so this is a way for the irs to get full visibility into the income and economic picture of every small business and every person, so the important
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facts on this are here, this is not going to apply to the tax return that you're filing this year. it's going to apply for your 2022 return, you're filing next year, it applies to any transactions made through these third party apps, $600 total for goods and services or more. these apps will send you a 1,099 -k form to fill out and send to the irs. this only applies to taxable income, so if these transactions are considered wages, tips, if you're a hair stylist and your clients pay you through these apps this would apply to you if you're a small business that runs some of your business through these apps, that's who is going to be impacted most. non-taxable income though does not need to be reported, and an example of that if you pick-up the tab and your friend sends you money for their share of the meal that doesn't count, if your mom sends you money for your birthday that doesn't count so it does not apply to
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peer-to-peer friends and family payments that go back and forth but the idea, neil is if you get audited by the irs and they have questions about whether or not something qualifies as taxable income or not, you're going to need to keep a record to essentially defend and prove that the money you're getting through these apps are not, in fact, taxable income, that you're withholding and under-reporting. neil? neil: oh, that's a way to scarf up a lot of money hillary vaughn thank you very very much, in washington d.c. i am interested in talking about the fed with brian wesbury, but brian, i did want to get your thoughts on this report from hillary about the irs monitoring transactions as low as 600 bucks you think that could be controversial? >> it will be. you know it's interesting about the internet and all the technology is that it makes many many things that we do visible that weren't visible
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before. so if you use zelle instead of cash, obviously the irs is going to be interested. we should pay taxes on income we earn. the problem i have with this one is what if i send money through zelle to my child at school? i'll have to prove that wasn't payment for some kind of service it's just sending money to my son and so the bottom line is, with a broad broom, with a broad stroke, you can catch up a lot of people doing things that have nothing to do with taxes. neil: that's a good point, brian i thought the same example with my son, sending money to school which i immediately saw my refusing to send the money to school but leaving that out, brian -- >> don't pick-up the phone. neil: right, exactly. no your mother and i say no! let me ask you a little bit about the federal reserve and these minutes and the details we'll get , presumably we'll get a clear idea how soon, how much, the fed is going to raise rates, maybe more on this
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tapering. what do you expect? >> yeah, i mean, i think the feds going to try and fill in some of the holes that we're all thinking about, but we know that they've accelerated tapering, in other words they're going to stop buying new bonds, stop doing quantitative easing around march. most people believe that the fed will wait until after that to raise rates. right now the market is pricing in three rate hikes; however, the biden administration is pushing new members toward the fed and the way i read their pedigree, resume, if you will, is that they're doves and so there's a chance that we actually don't get three rate hikes in this next year. maybe it's only two. neil: interesting. >> now, neil, i think they ought ago eight times. interest rates are so far below
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inflation, i mean, i'm sure, well i'll never be on -- neil: when you say eight times, brian, you say eight quarter point hikes which be two full percentage points? >> yeah, and given the rate of inflation that we have, and let's say the supply chains start to fix themselves and inflation comes down to about 4% neil, in a normal world, pre- 2000, pre all this quantitative easing that would have been a four or 4.5 or 5% federal funds rate so we're in a, the fed is, the fed is experimenting with a new way of managing monetary policy and we will see , because the feds never as far as when i look at history, never been able to get a soft landing after print ing this much money. we'll have to see if these new tools actually work, but the feds easing no matter what. neil: whatever your views and
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they're darn good ones and so is your track record, i'm curious on how you think the market will react to eight quarter point hikes or some have been saying on this show earlier, the first two hikes being half point hikes i can't imagine the markets would digest that well, but what do you think? >> yeah, i actually think we'd have some integration but we have to remember, let's just say inflation calms down to 4% and let's say the federations the federal funds rate to 2%. the federal funds rate is still way below inflation. in other words the fed still is not tight so i think it be indig estion the market would have to deal with but not the big one, it wouldn't be a grabber and so that won't happen until the fed gets interest rates above inflation, or if they start selling bonds and shrinking the money supply, and right now, neither of those things seem to be on the
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table. neil: all right, we'll watch closely brian, thank you very very much brian wesbury following those developments. interest rates are backing up a tad here, but there's no panic in these markets. we'll see how they react to the minutes when they are released remember this is from the meeting almost six weeks ago here so it could be looking in the mirror but it could be our first opportunity to get a sense of where the fed is going or the federal open market committee that decides all this stuff is going, yield on a 10 year note right now not too far away from 1.70% stay with us trelegy for copd. [coughing] ♪ birds flyin' high, you know how i feel. ♪
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neil: all right, we had interesting report from brian we sbury, wanted to, charlie gasparino has lots of other stuff to cover, but charlie, he had an interesting point that interest rates are going to have to rise a lot faster, a lot bigger than we think. i'm curious if he's right on that. how would the markets react to
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that? charlie: not well. i mean, i think -- neil: not well, right? charlie: yeah, listen this is right now in terms of the markets and buying stocks and worrying about interest rates is the calm before the storm. remember they're not going to start, they are only tapering now, they are still bond buying just doing less of it so when the taper is over, theoretically , by june or so, that's when they start raising rates. now, this is all what they're saying now, but who knows if he get many more bad inflation prints, if we got much more supply chain issues, that lead to a lot more higher prices, that wages don't keep up with these higher prices, the fed may have to become more bullish or excuse me, more hawkish, and that could really, that could really hurt these markets and i'll tell you, the first stocks that come, the first sort of wave of selling will likely be the meme stocks and all these sort of crazy stuff that's all trading at much higher valuations, if this tightening occurs first.
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that's the amc's and the second thing, you'll see some action in crypto, but i guess it's all about matter of when the fed does act, you know? and we don't know. we think if it's mid-june, well we got some running room here, probably. neil: yeah, a little bit meanwhile the fcc pick for the administration, on again , off again, where are we? charlie: ghighi not exactly a fan of minor this network, i've had interesting tweets with her, um, listen, i don't dislike her but she is an activist, a progressive activist when it comes to the media and she has a long, long history on twitter, which is, you know, before twitter, twitter just sort of memorialized every dumb thing you've said or any outrageous thing you've said and trust me, i've tweeted some dumb stuff before. she's done some of that, and i think it's going to hurt her, because she had some very very leftist views on media and particularly against us, fox
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news, and she's taken very very strident positions on net neutrality which is for more so than what they did during the obama years and it's hurting her so the biden administration appears to be throwing a line in the fan. remember they pulled back omarov a, the woman going to the bank regulator, right? they pulled her back. they are saying they're not going to pull this nomination even though it's really unclear if she can get through even the commerce committee. kyrsten sinema is on the commerce committee i believe she's not said whether she will support gigi sohn, and kyrsten sinema at least was not based on her prior statements was not a big fan of net neutrality, the whole nation that the cable companies can't charge you extra if you use their pipes, if you use more of their pipes than others, you know, republicans are for that, because republican s are against net neutrality because they think it
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leads to innovation. if you build something you should control it. democrats, obama was against it, and gigi sohn is really for net neutrality. there will be more fireworks so to speak, back to you, neil. neil: thank you very much, my friend charlie gasparino following those developments meanwhile updates on build back better who says it is deep six right now, edwardsville at the white house with more, edward? reporter: very interesting so the white house is now blaming first of all covid for the reason that 10.6 million jobs are still vacant in this country so on that front the white house press secretary jen psaki said something that the house speaker nancy pelosi said the last time she was house speaker to this , saying you have to pass the bill in order to see exactly what's in it so jen psaki is saying today this , that social spending package will alleviate the fears and allow people to go back to work, she then says don't worry, then they can tell americans exactly what's in it, listen to this. >> what we see in a lot of poll ing is people like the
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components of the bill, but they don't know exactly what's in build back better and what it means, and it's always easier to sell a package to the public once it's passed so we're hoping we're going to get to that point that is our objective. reporter: today senate majority leader mitch mcconnell on the floor of the senate saying this president promised to crush the virus going forward and now we have a lack of testing and also says that treatments coming to the market are slow in order to get there. you know, he says that mitch mcconnell, that it says that the last thing we need is more spending, in this build back better package. we should focus on the problems that are right in front of us, neil? neil: edward lawrence thank you very very much well if you don't like crypto, how about a crypto restaurant? after this.
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neil: you know, what is it about florida and the crypto craze, miami mayor wants to be paid in cryptocurrency, and bitcoin specifically, and now restaurant owner devoted to a crypto theme for his restaurant, ricardo joins us right now the crypto street restaurant owner, ricardo good to have you. tell me, what's behind the crypto theme? >> well, we wanted to do something fresh and i've been looking at crypto, i just started learning a couple years
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about it, and we had a restaurant, we wanted to do something new, something different, so we basically added a lot of information and basic terms for older folks like me that don't understand it that well and then we made a lot of fun names on the sandwiches and the food and the salad so we have a crypto cube, we have a do ge dog, we are going for some names and different cryptos and we are constantly looking to add new stuff, have a lot of decorations and just pretty interesting stuff. neil: do you allow people to pay in bitcoin? >> yeah, we actually just had one person a couple minutes ago pay in bitcoin. actually, it's actually been growing so we've had not only on bitcoin but we have some of the outgoing not now, but payments we have dogecoin payments so far, and it's growing.
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we created a big list and they can all, they have my receive account so they can do it through there and also do peer-to-peer and we can also do crypto account and if it's something we don't want to hold maybe we can just send it straight to the bank so it's working out pretty good. neil: so how has it changed from the old menu? i mean, now that everything has, or it has a bitcoin theme, how 's business? >> well business is great. i think it's more of me, i now it's my own, we have a lot of interest in different parts of the world actually and we have an american fare with a latin hispanic theme to it, so we will have some burgers and wings and cuban sandwiches, we have chili soup and we're incorporating that with hispanic taste into classic american fare neil: wow.
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sounds great. that's very novel idea. keep us posted on how it's all going, ricardo verona, the crypto streets restaurant owner, whether you're buying the stock or not, a coin or not, the investment or not, try the food. food for thought, we'll have more, after this. ♪ feel stuck and need a loan? ♪ move to a sofi personal loan. earn $10 just for viewing your rate — and feel what it's like to get your money right.
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♪. neil: all right. can you have strength in the markets if you have strength on the inflation front? obviously stunningly big jobs
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report out of adp private sector survey showing 800,000 more private sector jobs gained in the latest month has a lot of folks thinking maybe you can. the right balance we'll hear from the federal reserve shortly when they release their minutes, maybe telegraph what they're up to or plan to be up to this year. charles payne to take you through all of that. charles: neil, fantastic to see you, my friend. neil: same here. charles: all right, buddy. good afternoon, everyone, i'm charles payne. this is "making money." neil is absolutely right. what you see breaking the great rotation continues as investors and some algorithms continue to dump growth and embrace value. this has failed for years but conventional wisdom says it will stick i'm not sure. the fed releasing fomc minutes at this very moment. we'll comb through them with you. ready or not, congress getting right to snoop through


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