when we come back the guy who was once the chairman of barack obama's economic advisors who is not so much faulting the presented a administration what is happening with inflation but raising serious concerns about the federal reserve. jason furman is next. ♪. ♪ i see trees of green ♪ ♪ red roses too ♪ ♪ i see them bloom ♪ ♪ for me and you ♪ ♪ and i think to myself ♪ ♪ what a wonderful world ♪ a rich life is about more than just money. that's why at vanguard, you're more than just an investor, you're an owner so you can build a future for those you love. vanguard. become an owner. (vo) singing, or speaking. vanguard. reason, or fun. daring, or thoughtful. sensitive, or strong. progress isn't either or progress is everything. i've spent centuries evolving with the world. that's the nature of being the economy. observing investors choose assets to balance risk and reward. with one element securing portfolios, time after time. gold. agile and liquid. a proven protector. an ever-evolving enabler of bold decisions. an asset more relevant than ever before. gold. yo

obama was in office and his vice president was joe biden. i want you to listen to something from vet-- president donald trump speaking on this network about oil in his administration. >> we were bigger than saudi arabia or russia we were energy independent and within a year i would have been bigger than saudi arabia and russia combined and now, we are going back to them and opec and we are begging for oil. >> representative carter, do you believe oil and gas prices are driving inflation or is this an commendation to the other factors pushing inflation? >> no question about it. it's the primary driving force that we see right now in inflation. gas is up 61%, petroleum up 61%. president trump is right. it's more than just nonsense, it's dangerous, not what the strategic petroleum reserve was meant for. it was meant for an emergency, not for joe biden to try to correct his economic policy that's so bad that it's driving up the price of oil. his policies, his roar on fossil fuel, this is his policy, a biting created crisis and that's not what th

obama, his vice president, david, joe biden. david: don't forget that. edward lawrence, thank you very much. the key may not be how much oil we consume. the key is really how much produce and how much we could produce if we were going full bore. larry kudlow, host of "kudlow" saying this is why we need energy independence listen. >> if you correctly finger inadequate oil supplies, you have to come home to america, let our great companies large and small produce, right? we need more supplies, right? how about america first? drill, drill, drill. remember that. not "spro," "spro," "spro" but drill, drill, drill. now there is a big difference. mr. biden your policies taxing fossil fuels, overregulating fossil fuels, bad-mouthing fossil fuels, denying credit to fossil fuels, appointing a banking commissioner who wants to bankrupt fossil fuels, you will do anything you can to stop the production of fossil fuels and yet you say the problem is inadequate production. get it, folks? make sense? of course not. not even remotely. no anwr, n

the last time the average barrel of oil was more than $100 was from 2010 - 2015 barack obama was in office and his vice president now current president joe biden. david: thank you very much. meanwhile president by did expected to speak later today on strengthening the nation supply chain retail watcher is here on what we learn from shoppers on black friday. it was interesting black friday. first of all happy thanksgiving and happy holidays. we saw a 48% increase in foot traffic at retail stores compared to this time last year. it still 28% lower than it was in 2019. but that's a huge increase in foot traffic. >> is a huge increase. were comparing this to a year where none of us were really shopping last year. i said this a couple of days ago. my family we didn't even give gifts, i barely left the apartment last year. the 48% is pretty significant but compared to the last year where people were really out, this is 2019. it is actually down which signifies one thing, people have gone online more and also they started shopping earlier. i was looking at statistics from oracle and they said 30%

you know that, joe biden had same dilemma eight years under barack obama. neil: tough job being number two. howie kurtz, "mediabuzz" host. catch minimum this weekend. thank you, my friend, very much. a couple other things we're following very closely, is bitcoin. it is not just a full, wide, cryptocurrency selloff. it seems to be concentrated in bitcoin in and out of the 60,000-dollar a coin level. why isn't it carrying over throughout the whole sphere though? we're on that after this. when i was diagnosed with dupuytren's contracture, i waited to get treated. thought surgery was my only option. but then i found out about nonsurgical treatments. it was a total game changer. learn more about the condition at factsonhand.com [swords clashing] - had enough? - no... arthritis. here. new aspercreme arthritis. full prescription-strength? reduces inflammation? thank the gods. don't thank them too soon. kick pain in the aspercreme. ♪. neil: all right. well they tell you it is not a stock for widows and orphans or bitcoin, the metal is in right now. it is taking i

obama's affordable care act, supported by all democrats on a single republican. on and on we go. it does not change. >> it does not change in is the wrong way for something that happened for a lot of reasons. one of them is purely practical. if only one party and asked major legislation. and as soon as the other party takes control of congress, one of the first priorities is going to be repeal the legislation. that gives no permanent. incidentally i think one of the really important things that happen it took a lot of pushing and pulling is the interim structural reform bill was really infrastructure had delinked from this other large social service entitlement bill. it's going to be looked at totally separately i tell you because i talked to some of the centrist democrats in the house and senate in the last few days. they're not trying to vote for this bill unless they believe it's been thought out and adequately paid for. they do not want to increase taxes on people like the middle class that paid for and they also don't want to put the government more in debt.