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tv   Your World With Neil Cavuto  FOX News  October 7, 2021 1:00pm-2:00pm PDT

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begin the next 25 years of fox news. so thank you again to our viewers, thank you to the people behind the scenes. we don't get to see who do an amazing job. we're a great family here and i hope everybody across the country sees that and grateful to you at home for watching us all of these years. "your world" starts right now. >> thank you. we're monitoring the president of the united states to say something about congratulating us on our 25th anniversary. maybe not. but you never know. what he is touting is the big improvement in vaccinations in this country, mandates that are going too far and nevertheless that it's incumbent on all americans to vaccinate soon and if he can force the issue, he will. the president talking about the great progress and that has yielded fewer cases and that the trend is our friend. let's listen in. he's speaking in illinois right
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now. >> the illinois president of the -- don harmon, state senator, lauren murphy, state -- martin moyland. tim -- where is tim? there you go, tim. thank you. thank you, pal. aflcio state president. jeff isaacson and don fann and robert reider, chicago federation of labor. folks, that's how we beat covid-19 -- >> neil: we're going to keep monitoring that, whether he takes questions. this comes at a time when seven days running now, we've had a steady decline in hospitalizations and deaths. the trend is our friend. we're keeping an eye on that.
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an important developments for the market. a startling turn around on wall street on the notion that maybe a debt ceiling would make a lot of people feel very sick, might be resolved right now. it kind of pushes the can down the road for another couple months. we have to live on a very strict diet of $480 billion in spending for the next couple months as we work out those details. we'll get to the details on that with chad pergram and get a read on the implications of this shortly. for the corner of wall and broad, this was a welcome development. they don't like uncertainty. this removed for the time being one uncertainty. >> that's right. relief that the debt limit was extended even for a few weeks. that puts off a possible government default for a few more months. you saw wall street rejoining when chuck schumer announce that they had a deal.
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now we're on track after the big sell-off, stock markets are up three straight days. the biggest 3-day rally that we've seen in three months. yes, it's a short term debt limit extension to december 3, which lifts the debt ceiling by the skinny $480 billion that you mentioned. still good enough for the stocks which are getting closer to the october 18 deadline when the u.s. would run out of cash, threatening a catastrophic debt default. so the deal lifted both sectors from technology, to more industrial stocks like car makers. it's interesting stocks nor automakers rally despite energy prices going up. at one point, 5.7%. stocks usually go down when that happens, when investors start selling stocks and in order the chase the more guaranteed money on government bonds.
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there's good news on the economy and the jobs front. the weekly jobs claim falling the most, down to 326,000 and combining the better jobless claims to the private payroll report that we had earlier this week. we're looking at solid september jobs reports tomorrow. economists are forecasting 500,000 new jobs and the rate should come down to 5.1%. >> susan li following the developments. you do begin to wonder, are the markets getting ahead of themselves. this puts this off another couple months. that's assuming that everyone okays the whole thing. chad, is the market getting ahead of itself? >> we learned in the past couple moments that the senate is going to take a vote on this later tonight. there's a procedural vote around 7:30 eastern time that needs 60 yays and then they goo to final passage after that. the deal would lift the debt
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level for $480 billion for two months. there's no vote yet. mitch mcconnell offered a deal to democrats. mcconnell told democrats for days they should lift the debt ceiling on their own. some gop members are mad at mcconnell. >> i don't understand why we're folding here at the end. this is the complete capitulation. i'm upset with us. we had a strategy to make them pay the price to raise the debt ceiling. we blinked. >> this means at least ten gop senators must vote yes to break the filibuster. they're not pleased with that. >> look, mcconnell blinked. so i think senator mcconnell took a hard look at the risks this was posing at the filibuster and decided to let us move forward. >> there was chatter that democrats wanted a special carve out on the filibuster exclusively nor the debt ceiling. democrats would need all of their members on board.
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democrats lack the votes for that gambet. >> how close were democrats yesterday to doing a filibuster carveout? >> that wasn't going to happen. i don't know what the desires were. some peopling thinking it was going to happen. >> democrats were ready to make a deal. otherwise a debt ceiling crisis could hijack their effort to pass the spending bill. it's just been announced the senate will likely vote later tonight. neil? >> neil: chad pergram, thanks very much. this would not be the first time that mitch mcconnell played a crucial role in settling or at least moving the ball forward in important matters that in this particular case could all but shut down the federal government. if he didn't act as he acted. it depends on your point of view. as long as i have been here, mitch mcconnell has been in that kind of a role. take a look.
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>> reporting to you today from the senate finance committee room in washington d.c., this as i say is where, i guess you can say, the sausage is made. it was here that the biggest tax cut in american history was cobbled together. >> really sums up the major differences between the parties these days, neil. i got a letter from all but three of them before we passed the tax bill saying what kind of tax reform they would be willing to support. it was all about class envy and wealth transfer. had nothing to do with getting the economy growing. >> bottom line, mitch mcconnell was the key reason why those tax cuts ultimately shepherded their way through and on their way to law. now being likely reversed under president biden if he can get the votes. no sure thing. in this particular development here on the whole debt ceiling thing, fellow republicans as you saw there, concerned that he blinked. let's go to "the washington examiner" reporter
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extraordinary. tiana, what do you think of the role that mitch mcconnell played here? some welcoming him moving the ball forward. lindsey graham said he made a wrong move. >> mcconnell said you have to do this on your own. that's what reconciliation is for. republicans, you have to cater to your base so people have to project some dismay with what mcconnell is doing. the truth is when you have the ceo of raytheon and nasdaq explaining how dire the situation is, mcconnell knows it would harm democrats more than republicans if we did hit that crucial crisis of hitting that fiscal cliff, it would be devastating to ordinary americans. right? effectively creating a constitutional crisis by forcing
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the treasury to decide who gets the funds allocated by congress which has the power of the purse. mcconnell knows this is a short term allowance. now denims are in a circular firing squad. he's not interrupting the enemy while they attack themselves. >> neil: it's important that you note that business groups got to mitch mcconnell saying that they might support what he's doing, leaving it on the democrats and if things went south or let's say the government shut down or got so close to that we looked at a default possibility, voters wouldn't discern who is responsible. just that they would hate them all, right? >> yeah, i mean, if you account for retirement plans and 401(k)s, a majority of americans have a stake in the stock market. it's not just millionaires and billionaires that care how the dow is doing. on top of that, you do have lloyd austin warning that, you know, if we did pass that debt
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ceiling crisis, that he wouldn't be able to pay service members. we don't know how the treasury would allocate funds. mcconnell is trying to put democrats in a hard place, which is either use their one of three reconciliation attempts to raise the debt ceiling or, you know, do the short term business. the fact is, if he thinks he has enough to go through the short term increase, that's not giving democrat as lot of lateral space. they're fighting about the hyde amendment. they don't even have their own caucus in order. mcconnell knows that that is the war. it's not interparty. it's intraparty. >> neil: we shall see. thanks. i think this is a fascinating development that the strict guidelines are that we have to make do, $480 billion, over the next two months. that used to be the entire budget no many years ago of the united states government. that's our strict allowance president don't spend a penny
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over. $480 billion. by the way, we're still trying to with this increase with the debt creeling to deal with this for the time being. our debt is still rapidly closing in, overall debt of $30 trillion. when this network started, 25 years ago, it was about 5 trillion. does that look like progress to you? after this.
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>> you're watching the cavuto business report. >> close? so close. but no cigar. wall street flirted with and eventually stepped across the 6,000 line but pulled back from there and stayed low for mid morning on. looked like the calm before the storm as profit takers stepped in. that's when the dow closed at 5,992. the dow jones dropped 15 points to drop under 5, 980 under the day. still a stone's throw from 6,000. >> neil: that was our first show
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25 years ago today. only days after that puberty was completed and -- what the heck? one thing that startles me there more than that incredible hair, across between liberace and paint, look at the dow. you know where it's at now. flirting with 35,000. the big quest was for 6,000. that's what we call -- i don't know -- stock inflation. now the worry is for something a little bit more concerning. that is, well, real far spread price inflation on everything. lydia hu following those numbers. lydia? >> congratulations on the anniversary first of all. now to the inflation numbers. that inflation rate is forcing the average household to increase spending by $175 a month on food, fuel and housing. that's according to a new
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analysis from moody analytics. >> i think it's short lived. it's peaked. it's tied to the pandemic. the pandemic has scrambled. delta messed things up. particularly hit hard here, but creamed southeast asia. >> for now americans are paying more for many of these food staples driven by the labor shortage and supply chain issues. a pound of ground beef up 7% hitting .447 a pound. bacon up 28% over a year ago. that's at more than $7 a pound. more than 50% higher than a year ago. milk up 4.5% to hit $3.50 for a gallon. we have a study of prices at dollar general that shows prices for other products have
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increased. 12 pack of pepsi, used to $3.95. folgers up to $8.80 from $7.95. we can't forget about the price of gas. that is a big driver of the costs in what we buy. it's at a seven-year high. up almost 50% from a year ago for a gallon, neil. >> neil: all right. lydia, you were not born when this network started. >> that's not true. >> neil: great having you on board. forget about not even born. he doesn't remember a bear market this next guy. scott martin, fox business contributor. an uncanny read of the markets for a young whipper snapper. they're mentioning the inflation word again and say be prepared for it sticking around awhile. are you in that camp? >> in parts of that camp. the gasoline concerns are there and going to stay there. the food and some of the materials, i'm not so sure. it's funny. the things that lydia was
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talking about, it's things that we should be eating less of anyway. personal story, i may or may not have brought golden oreos to the studio today. point is, go to the store now, you bought them, 16 for $5 or something. now you're about 40 for a higher price. we don't need to be eating 60 of them anyway. but for my sake, some of the flood inflation might be forcing us to make healthier choices. oh, my gosh. >> neil: don't go nuts here. i don't relate to this. i haven't noticed the same run-up in prices in arugula. you could be right. you know, i'm wondering, because when inflation takes hold as a devil of a time sort of easing back. we saw that from the 70s experience. what do you look for that would at least get you thinking maybe this is more of a problem than i
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thought? >> i think the secret, neil, lies in the job market. it pans itself out in wage inflation. milton freedman, who i read about, didn't get a chance to meet him, which was the old talk of saying, you know, inflation is a monetary phenomenon. it's too much money chasing too few of goods. we have too few of goods. that's evident. the wage thing, the too much money chasing those goods may or may not be the case here. so until that pans out to where we have both sides of those things fighting it out, that's why i think jay powell has it right. a lot of this stuff is transitory. lasting longer than a lot of folks predicted. we have a jobs number tomorrow and we'll see the wage numbers calm down. >> we'll see what happens. scott martin, great catching up with you. you weren't alive here when we started but good you're alive right now. thanks. scott martin on all of that.
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scott was an early enthusiast of the technology sector before the boom. there was a concern right now that the whole promising field would go bust. that did not happen. over the years, i've been here, 25 years now, i've gotten to speak to some of the titans of technology and their view, which is counter to all the naysayers throughout 25 years. take a look. >> amazon.com becoming the first e-tailer to serve 10 million cyber customers. >> the big cheese is here. >> it was more fun for me. >> four years ago, i was delivering all the packages of the chevy blazer. so it's a big change. >> the shares have tripled in just the past year since steve jobs came back to set things right at his old home. >> is this a labor of love or is it just your mission statement now to get apple back on track?
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>> i think apple started in my parent's garage. steve wozniak and i put a lot into it. >> the best thing about the technology, it gets better and better. this is the worst it's going to be. >> mark, you had impeccable timing. it was in 1999 you sold, broadcast.com to yahoo. made you a billionaire many times over. no regrets about that one, huh? >> no, not at all. the technology was the worst it was. it's gotten better. the market was crazy then and it's crazy now. >> what do you think? on a personal level. >> bill gates is one of the most remarkable business people that has ever lived. >> to you like him? >> i neither like nor dislike bill. it's hard to have an emotional reaction to him. >> he's trying to kill you, is he not? not physically but -- >> bill is trying to kill
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>> 25 years, dude. you make it look easy. we're following in your foot steps. >> neil: that's very nice. we've enjoyed this whole week. one thing we have not been enjoying is what is going on with energy prices. gasoline prices in and out of seven-year highs. i don't think the former energy of the united states is here to say told you so but that's what happened when the biden administration came in and put the kibosh on oil production and the keystone. you know the drill there. the former texas governor, the former u.s. energy secretary kind enough to join us now. secretary, you did warn us this could happen. now it's happening. now we're hoping and praying that opec and opec plus countries cover what we no longer produce. what do you think? >> yeah. it's fascinating that we would be asking some countries that we
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could do this ourselves but we're begging people to put that in the marketplace. neil, there was a headline this morning, halfway around the world, that it was talking about, but it basically said that europe is about to be held hostage by russian gas. you talk about i told you so. nord stream 2, american l&g was flowing in to europe, we were replacing -- >> neil: you're referring to liquefied natural gas. >> yeah. thank you. and now we have russia finishing up the nord stream 2 pipeline, the keystone pipeline shut down in the united states. i refer to these folks as the keystone cops, a lot of people don't remember them, they were a silent movie group a bunch of cops that couldn't do anything right. i thought about that when i was thinking about keystone pipeline
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and the keystone cops. this administration is the keystone cops of running government. they can't do anything right. shutting down that keystone pipeline, which would allow for the heavy sour crude, which our refineries are set up to refine in the gas. we're seeing $5 gas prices. this administration is running around like the keystone cops going how is this happen something. >> neil: what is interesting now, secretary, you mentioned what is going on in europe. seems like an embarrassing situation for vladimir putin to say don't worry, i might have your back and deal with production. i'm paraphrasing here. when you are depending on vladimir putin to be nice, you're in a bind. >> the weather is mild right now. when the weather really gets cold, this were people that froze in europe because putin
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cut off the gas trying to get his political will done. if you think that will not happen again, then you may not be anywhere near smart enough to be running this country. that is what really -- doesn't just irritate me, it's a scary thought that this administration didn't recognize what they were doing. they were allowing russia to come back in and put a strangle hold on europe. you know, look at the polls. the polls have understood this for a long time. a year ago today, i was in -- i think four years ago, i was in latvia doing an event there with the leadership of europe talking about how to bring more american liquefied natural gas into that market so that they would not be held hostage by the russians. in ninth months, this administration has completely
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turned all of that great and good economic and national security policy around, president trump understood this. you bring american energy into europe and they will not be held hostage by the russians. >> neil: it's a scary situation right now for energy. we're relying on the wrong guys to your point. governor, always good to see you. rick perry, the former texas governor, u.s. energy secretary as well. sometimes the more things change though, the more we see kind of the same. politcos that break through and others that don't traying to deal with the same thing at the same time. take a look. >> i had never expected that i would see in the same election cycle another woman running for national office. i want her to succeed. not because i'm going to vote for the ticket. i want her to succeed because i don't want -- >> neil: i think you are
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secretly going to run. i don't think you like barack obama. >> no, no. >> neil: you're not letting bygones be bygones. you're angry and italian. i know what that is like.
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>> neil: we're learning that brian laundrie's father has been asked to take part in the search for his son. so far they can't find the guy. laura ingle just had a chance to speak with gabby petito's parents on all of this and had some remarkable revelations. she always does. laura, what is the latest? >> hi, neil. we're here in blue point on new york's long island. this is gabby petito's hometown. it was a month ago that the family here knew that something had gone terribly wrong. they weren't hearing from their daughter, gabby petito on this
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cross-country van life that she took. now they're opening up to us, telling us about what the initial day were like starting with the reaction that her white van was found in floor without her. >> i screamed. i didn't mean to scream at the detective. i said where is my daughter? she said i wish i knew the answer to that. >> nicole schmidt remembers the moment that she feared the most. >> the night i knew the van was in florida, i knew that my daughter was not here anymore. >> eight days later, the fbi called gabby's stepfather, jim schmidt, who traveled to wyoming to help find her. >> the hardest phone call i made in my life. i was thousands of miles away and i couldn't hold my wife and my other children. that was what made it increasingly difficult, painfully difficult.
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>> as the man hunt for brian laundrie continues, i asked them if they had any ideas where he could be. >> i'm not certain. i would think he's in an area like the appalachian trail or a campground where he can live off the land. he had those skills. >> you think he's alive or in the country? >> i believe he's alive. >> if they had one thing to say to brian laundrie right now -- >> just turn yourself in. whatever the circumstances are, whatever happened, just go there, do the right thing for yourself. do the right thing for gabby. for our family and for your own family. >> we deserve the truth. >> they deserve the truth. they're well aware of the activity going on in florida today. they know that brian laundrie's father, chris, was taken by law enforcement to that hiking area near the preserve. they say that is great. they're glad to see they're participating in the investigation.
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for right now, what they want to do is focus open their foundation. the gabby petito foundation, which will raise funds to help families of other missing children with resources and hope get the publicity that they've had during all of this. neil? >> neil: thanks, laura. when we come back, the latest push for a vaccine for kids as young as five. that might be out very soon.
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>> neil: a vaccine for kids as young as 5 years old, at least a vaccine for emergency use. there's 28 million kids in the category. doctor, is it a good idea? >> well, neil, as you said, pfizer submitted their vaccine for 5-11-year-olds to the fda for authorization and review. federal officials could give the green light for the younger kids to get the shots by the end of october. covid is still a significant rick for children. we've seen tremendous rises in the burden of the disease and large numbers of deaths. hospitalizations in kids also.
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in a typical year for context, we document about 200 pediatric flu deaths. since the start of the pandemic, nearly 600 american children are documented to have died from covid. so this readily makes covid a leading cause of death in children. so vaccinating kids is going to help make schools safer as well. the fda will be reviewing a lot of data over the next few weeks looking at it very carefully and making a decision on the next steps. >> the president was in illinois talking about the progress we're making on vaccinations. some people don't like the way we're getting and making that progress that these mandates, orders, if you will, violate their personal freedoms and rights. they think it's a slippery slope. as a doctor, how do you feel about that? >> neil, i think we can all agree that covid-19 is one of the most significant object instructions to life that we witnessed, economically,
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socially, politically. there's not a lot that hasn't been touched by the pandemic. we're 20 months into it. we administered over six billion doses worldwide, nearly half of all humanity. the vaccines are safe and preventative. the fda has fully approved it. so whatever people are waiting for to convince them to take a shot, that time has passed. for healthcare workers to be enduring this volume of sick patients is really unsafe and unreal for us. vaccinations is our most powerful tool to control this pandemic. in addition to the use of nonpharmaceutical interventions, we can return to a normal life. it's going to take everyone pitching in when they can and truly confirm amazing protections to themselves and the rest of society is certainly reasonable. i think it would be preferable
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to take the vaccine without being compelled by mandates. we face an on going public health emergency and for our vaccine up take to where it is problematic. >> neil: thanks, doctor, for joining us. the internal medicine physician over the california medical center. we've been doing a lot of flashbacking, looking back from 25 years ago, all the different types of folks that we've interviewed over 25 years including impressive ceos. one really stands out to me. he was so familiar. where do i know him from? >> we criticize people and sometimes pretty harshly. we have to expect something back. when you get to our age, it's water off of a duck's back. >> neil: not fair and balanced, not hearing both sides. they're not what they say they are. >> we answered that.
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>> i think as far as fox news goes, it's very simple. it's powerful, it's very good, and it's very balanced. everybody else, every newspaper -- this may be an over generalization, but most newspapers and television networks are on one side, the liberal side of things, where i think the population of this country is pretty worried about its direction, and they turn to fox news. >> when you see the media criticism, fox anything. mech, do you just look at numbers like this and say "bring it on?" >> it's great for ratings. [laughter] >> that guy looks so familiar. rupert murdoch of course. he perhaps best illustrates not only the success of fox news and literally banking on it, could not even launch in manhattan.
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imagine trying to get gas and you are not on in manhattan. you obviously know what is happening and what happened 25 years later. it's a pattern i've seen among great ceos who have had a pleasure to chat with over the last quarter century. they never buy the consensus, and they have an amazing, innate ability to see opportunity, often times where others see nothing. take a look. >> you are watching the "business report." the whiz kid of wall street. how much of what you have been able to orchestrate has been helped by a great stock market? >> there is no question, everyone in our business has benefited from fabulous market. >> can i ask you a nasty personal question? is politics interesting? >> not really. >> you need a guy. >> didn't we also talk about
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what we wanted when we grow up? >> do you know what legendary investor john mobile wanted folks to think when they heard the words "wall street?" main street. >> an index fund is becoming useless. it's a low cost index fund. if you want to make a lot of money, the manager or sponsor wants to make a lot of money, they are putting costs that i think are grossly excessive. >> i consider people my partners and running the company. we ran it together. >> but you control the voting stock, don't you customer >> i control this interview too. [laughter] >> if you can find a better car, buy it. >> it's great to see. >> good to see you. >> elvis enter the building. >> how important is the guy that running the company to the company's image customer >> very important. commercials, we were going bankrupt, and the agency talked me into it and said "you have to go out there and start using celebrity.
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you got to go back and make sure that the cars do not leak and rathole. >> he spent $60 million to become a mayor of new york city, but michael bloomberg, what he does now -- >> a daunting task, but a challenge for everybody. >> you call the shots. >> i have 8,000 people at the company that i work with. they don't work for me. i work with them. it's why we been successful. >> he is considered one of the most controversial billionaires on the planet. last time i checked, there aren't a lot of billionaires on the planet. >> you see a slow down. many agree with you. it's the slow down that is becoming -- thousand bubble that bursts -- >> that's the $64 question. i am on the fence about it.
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there is no question that the housing bubble is being deflated. there are other positive developments that may come to balance it. >> perhaps the most polarizing figure in corporate america today, the one message ceos fear most getting from their secretary. carl online one. >> i can make -- i'm no genius, i can go into any company, go into it with 30%, make the company turn it around, which i've done over and over again. i am not a genius. it tells you one simple thing: many companies are terribly run and there is no accountability. only i condone what i've done. >> jack welch, not only a man for -- people from a certain that goes beyond just one --
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>> your job is to get in the skin of everyone and show them where you are going, how you were going to get there, and what's in it for them when you get there. if you get those three things going, you've got it. >> one of america's most iconic if not beloved companies, home depot, celebrating the opening of its first stores in 40 years ago in atlanta, georgia, today. you were starting an environment like we had today, taxes, stable economic and vibrant, what do you think customer >> first of all, it would be difficult today. the government is working against you. a cornerstone of our belief from day one was the people in the store. we always believed that if this was going to work, we not only had to get the right people motivated, but after we got them, we had to respect them. >> he is my brother. [laughter] ♪ ♪ ♪ ♪
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>> it's just remarkable. i have been so fortunate to talk to the movers and shakers. what you see with great ceos, and that's one of the great benefits i have, two candy stores -- it's dangerous to just put me in one! the news in business together, when you talk to corporate titans, those who had a dream -- those are getting no chance of succeeding. they laughed at it. when i talked to steve jobs when he was coming up with this thing called the ipod, they said "we are to have the sony walkman." when i talked to rupert murdoch about starting this channel, ever but he said it was a joke, they can go anywhere, will be smashed like a bug. they all ignored the bad press, all the criticism. in this case, it continues to this day. greatness, i like to think, is defined not necessarily by the compliments you get, but how you deal with the criticism that invariably comes your way.
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greatness is also defined by those that take chances, by those who book the consensus, or what everyone thinks will work and says will not work. the great ones, the great leaders, they get that. that's what makes him iconic. that's what makes them great. that is what has defined fox news. good night. ♪ ♪ >> for two weeks, maybe i'm dying. [laughter] >> greg: i'm greg gutfeld with -- harold ford jr., jesse watters, and 25 years ago she was a christmas elf at the county mall prayed [laughter] dana perino. "the five." ♪ ♪ today is a special day for all of us. it's thursday, when jesse finally does his laundry. >> jesse: watch? [laughter] >> greg: you smell. it's also fox news' 24th

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