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tv   Cavuto Coast to Coast  FOX Business  April 30, 2021 12:00pm-2:00pm EDT

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twice the size of the statue of liberty. you learn something every day on this program. the real interesting point is bitcoin has moved up to 57,$000 per share. but still up 6% and that is news. time is up for me. neil, it is yours. >> when you wonder your emails and letters together who collates that? >> the producers pick out what we should be answering. they filter out the hate mail. neil: say an anchor only has hate mail? any idea how that could be handled? just let me know. thank you very much.
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stuart: ask me to send questions to you. neil: hard to show on the air, cut out magazine letters. maybe you can guide me to the graphics of that but thank you, have a wonderful weekend. let's look at some wonderful news today. disneyland magic kingdom on the west coast is open for business. it happened an hour ago operating 20% capacity. only californians are welcome. in a few weeks it should be 35% capacity. disney world in florida has been open throughout all this, 40% capacity but you have to
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start somewhere in disneyland starting that with the great opening continuing. we are monitoring that throughout the show but good to see. a lot of people say disneyland, disney world, i've been to both places, disneyland is a smaller area, more bang for the buck, you see a lot of rides and do it in very little time. that is good to see. news today that more states looking at speeding up the reopening plan in new york and new york city, the governor and the mayor of new york city about the july 1st plan to open at 100%. traffic returning to midtown manhattan. you can't go out in any disney street that was abandoned a year ago and not bump into more cards period but all these are good backdrops for the economy even though you are not seeing it at the corner of wall and today.
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i want to get into the president's plan, philadelphia, doing all he can to help amtrak. brian has more on that. >> reporter: president biden will speak at the amtrak station to honor amtrak's fiftieth anniversary. suspect the president known as amtrak and overall his rides when he was a member of congress to pitch and explain why he believes $80 billion from taxpayers should be invested in amtrak over the next eight years, five times more than amtrak's current funding, nearly half of the $80 billion will be spent on backlog amtrak repairs. the rest will go to modernizing the northeast corridor the busiest amtrak stretch and also enhance freight rail safety and connect new cities. amtrak release this map showing
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a division for the year 2035, late blue lines represent 39 new routes connecting 160 communities, states like texas and ohio, critics say the investment in's misguided, they check out amtrak has yet to have a profitable year in its history. us cities are too spread out in 76% of americans drive to work anyway. earlier today the president defendant his $2 trillion infrastructure plan. listen. >> why tax and spend so much when the economy is still recovering? >> that is the reason it is recovering, we are investing. if we don't invest in this country we will start to fall behind even further.
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neil: biden envisions people traveling coast-to-coast in high-speed rail. in 2009 he led an effort to up add high-speed rail nationwide but a decade later none of those projects exist, the rail connecting san francisco to los angeles won't be finished until 2033 and the balloons to a cost of $80 billion and there's a reason america only had 34 miles of high-speed rail, china has 16 miles of the reason is labor and regulations make it more expensive, some estimate it would cause north of $1 trillion to build the high-speed rail system envisioned by president biden. we will see what he has to say in a couple hours. neil: i can remember many times taking the train to connect new york to washington dc, makes very few stops, in my early days i remember when joe biden
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getting stopping off in wilmington and now there you go, he has not forgotten how important amtrak was to him and early in his career and as president of the united states getting back to the tune of $80 million. mcshane on the economy and what it was frozen in place for for the better part of the pandemic. making up rapidly, we've seen household income and consumer confidence and connell mcshane picking through that data. it is eye-popping data. >> yes, things are picking up all over the place. it is a great example, disneyland, took over a year but disneyland in california reopening today, speaks to a larger story as they come back when americans are ready to
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spend and we know that because they are showing it in the numbers, spending numbers up 4.2% which is a nice increase, the biggest monthly jump since last summer and a lot of that because people are making more money and that is where we saw the big jump thanks to the government handing out $14 to me was checks a lot of people that income is up 21% which is huge, we've never seen a jump like that in income. what is interesting is what people do with the money and what they are spending on, 8% increase on goods, a lot of it is big ticket items. think about amazon, they sell a lot of goods. record profit after close of trading last night for its most recent quarter and just as important for amazon is it signaled it expects consumers
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to keep spending and we think about the next phase of all of this and we are starting to see that to some extent as more people get vaccinated. economists think that drives another round of consumer activity. as we transition from goods to services, people get out more and feel more comfortable, more public settings in disneyland a moment ago, they have that, and you feel more comfortable, getting your nails done. it helps the economy as people feel more comfortable which they are doing a lot of. neil: i can't wait to see you in person to get back at you for that comment. it is all psychological. people follow everyone else and if they are buying they feel the psychological boost. thank you, i think.
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we have gary with us, what they just heard the, one thing that is interesting is the steady process of getting us out of the pandemic and the great reopening, we've seen it in disneyland, talk about an aggressive schedule, 100% opening, you see it at airports that are busier right now, close to 20 days running, that is good to see, do you see anything disrupting that? >> i'm stuck on your manicure but moving right along, we have i don't know what the right word is. we don't have a perfect storm, perfect funny day but vaccines. we have money in consumer pockets, $3 trillion estimated
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in excess savings, reopenings. i don't think anything will step in the way of these booming recovery numbers for many months in the only thing, clouds on the horizon, inflation but on impact people's behavior, people are out, we'll see it everywhere wherever we are, the airports full, airplanes full, bookings up, people are excited to get back to their normal lives and they have the money to do it. neil: his private jet airport, something happening, what do you make of that, it is pretty much focused on going to stick travel but you take what you can get. >> the good news is we will see
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big international travel which is aggrieved croatia, opening up to americans and have them come over here. i don't think there is anything to stop what is going on. we in florida, disneyland was just opening up, disney world in orlando opened up last july 10th so i don't know what has been keeping gavin newsom but he's late to the game. overall i have been making sure i go out it was in the airport last week, places are packed, looking at airlines, prices are going up. the only thing not selling is disinfectant wipes. they are offering two for one. everything has changed and that is all good news and good to see bill deblasio open up new york city because new york city is a big big engine in the
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economy of this country going in and out. we are getting there. neil: the overriding nature of this, no problems on the virus front, the economic numbers speak for themselves across the board. existing home sales and mortgage demand, don't see a problem with that. the only thing that could spoil it is bad news on the vaccine front. we had vaccine distribution slowing but supply is outpacing demand back to what the scare was but anything on that front concern you, whether it finds its way here? >> now and then a new strain makes headlines. so far the vaccines we are
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taking, the modernand pfizer vaccine it. a and j vaccine proved effective at curing or preventing these new strains from taking hold in the united states so we are all watching these numbers whenever you see a checkup like we see in michigan, michigan's numbers for a while looked terrible and now they are going down again. the real message is people have to go and get vaccinated. i didn't like watching the state of the union cause i would've you call it, speech biden made to congress with everybody being in that room, all the people vaccinated wearing masks. the message has to be to the american people get vaccinated so you can go without a mask and mingle with your friends
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and get back to normal life. the messaging from the white house has been models. today or yesterday the president did an interview standing 20 feet from a guy who has been vaccinated. i don't get that, the only people in the room, what is the message that it is still really scary? that is sort of stupid. neil: i do that at family reunions long before the fan gerri: -- pandemic. amazon a blowout quarter and stocks up $47 a share. a little north of 3520 but it follows better-than-expected data out of apple, facebook, microsoft is a different story, twitter is a different story but by and large the tech juggernaut continues. it was supposed to slow posts the worst of the pandemic. >> the numbers are amazing to
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see, they are revocable trillion dollars doing hundreds of billions to grow their sales 50 to 100%, just amazing. the spots haven't been so great off of the news, i do like apple whose numbers were great with a $2.2 trillion market, tough to move that. i wonder if they are getting so big that it would be a different world for them but they are real juggernauts, outliers, creators of wealth and great business models, fabulous to see what they are doing and hopefully we see more companies follow wing in their footsteps driving productivity and lower cost to the consumer and end up with a virtuous cycle. neil: we will watch that closely. i want to pick your brain on
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this new effort but it has spread a little bit to make independent contractors treat them as employees, that could change but stay there for that. a lot coming up including the president in philadelphia, more aid for amtrak. if you look at the $80 billion he is looking for on top of the spending he's looking at over 100 days of his administration. no president has submitted this much in spending plans than this one either on percentage of gdp or across basis, better than $6 trillion. ♪♪ ♪♪ set me free ♪♪ i really want to hear down
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metropolitan area, they expect winds of 60 miles per hour that could last on and off the next 24 hours. they are looking at getting a cat. that cat would be in orbits, looks like pretty strong wind. i think the dog would be safe and maybe help the cat but that is competition monitoring that, corporate headquarters for fox news, following these developments and other political winds, winds of the political variety with the administration having a tussle with republicans over something called a new education curriculum back to the 1619 project that takes a look at how history is taught in this
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country and redoing the process through the curriculum focusing on slavery and the impact that had and how it has been poorly represented and examined in history. bottom line mitch mcconnell not a fan of this racial curriculum that is appending the entire curriculum. chad program on where that site is. >> the latest twist in the culture wars, senate minority leader mitch mcconnell takes it to the proposed rule from the department of education would site the 1619 project, faced criticism from historians. mcconnell and others write to miguel cardona the project was ill-informed advocacy ahead of historical accuracy. mcconnell targeted the biden administration regarding radical policies. >> behind president biden national your face is the most
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radical washington democrats of been handed the keys and they are trying to speed as far left as they can, possibly go. >> reporter: president biden spoke about the import of education recently but not about an idea like this. >> universal preschool for every 3 and 4-year-old in america. everyone. that is a game changer. >> reporter: there's a data for democrats pivoting from bread and butter subjects. >> good too bogged down in social issues they were runoff and lose their majority in the house. >> reporter: that is why republicans see this as an opportunity to drive a political wedge on social policy. neil: thank you very much. i want to go to jeannie allen on the center for education reform. can you explain at least in layman's terms what this would advocate? the 4 hundredth anniversary of slavery to look back in history
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and see things through the prism of slavery and recognize outstanding americans etc. but it seems to have morphed into something that is radically upending everything we know about american history. could you explain? >> it is so true. the 1619 project is not just about content but intend and it strives to put bad intentions at the feet of everyone from the folks who came here at jamestown to look for a new land to the people who stepped foot in plymouth, massachusetts to the people who debated and brought about the beginning of the end and we are still nowhere near it, the beginning and the end of racism and slavery. everyone from lincoln to wilson to you name it is on the chopping block and what is ridiculous is this has been
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dismissed by very credible academics. i always think about the guy named plato 2000 years ago who said the very same thing we are debating today. who will teach the children and what will they teaches some? there's nothing like great history, authentic original sources, to drive people to think for themselves. none of us wants to oppose a debate and a healthy debate on who did what and why, but the lens of 1619 says we started in 1619, not 1776. when the first slaves were brought here and that is why we are who we are and we have to change who we are. let's stop about changing who we are through the lens of history. neil: by all means include it, don't scrap everything before or after it. the notion that only conservatives are riled up about this misses the point.
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the columnist with said this project is 1-sided and dogmatic style of history. it could be part of the curriculum but not its core. please don't do this, you will regret it. my view is like on energy when people talk about fossil fuels or wins and electrical. i'm all in on all options and i'm all in on all areas of study to include free children and future generations to come not to exclude that which you don't find pleasant or supportive of your views. include it all. why can't we do that? >> we need to dig in deep to everything and we can spend a lifetime, many of us pick up books on a daily basis, try to read them. david mccullough has written them the great historian that helped us to know more about everyone from adams to
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jefferson, hamilton, we need to know more, not less. the fact that the purpose of education which by the way more billions, the president's prescription the other day, writing a blank check for all programs from cradle to grave gives unprecedented authority to washington where they can just a lot of people don't realize they can just write guidance. i worked for the board of education, i watched people literally write directives into spending prescriptions and they end up in local schools and no one knows how they went there. we went from 80s 90s with unprecedented federal control where kids weren't learning anything and weren't teaching poor minority kids very much either, the bigotry of low expectations, now we are going back where we give the federal government more control to solve the problem they have not
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ever been able to solve and so content is on the chopping block and if you care about kids and educators and schools we have to fight this battle, a hill we have to climb, things that are real, credible history needs to be put in front of our kids, our schools, our communities and have the debate as you said. stuart: it seems to be out of control. republicans leading this effort, 37 strong by mitch mcconnell before it can get much traction but it is gaining traction. staying on top of america getting back to business, what is happening at disneyland officially reopening in california and the kentucky derby good to go tomorrow. ♪♪
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neil: the kentucky derby back on tomorrow filling the stand not quite to maximum capacity but more than would normally be the case. olivia joining us from louisville. >> capacity will be reduced so we expect 45,000 to attend the kentucky derby race tomorrow to give you the sense of the reduction, you would see 160,000 people or more filling the stands just behind me depending where you sit, the end field or the stadium there are varying restrictions ranging 25% to 50%. mask wearing is also mandated.
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people in louisville say they are delighted the race is happening the first weekend of may because last year it was postponed and kicked off with no fans in attendance and that makes a big difference in the economic impact brought to the area. race we can generates $350 million or more. they expect less the intent of that but better than last year when it was $1.4 million estimated. lots of interesting stories to follow along. i want to tell you about hot rod charlie. this is a horse purchased two years ago by a group of 20 something-year-old friends, patrick oh neil grew up around horse racing, convinced them to buy some horses, this is their third horse and they are already in the kentucky derby. listen to this. >> incredible to be at
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churchill downs, in terms of locations for horseracing to be at the kentucky derby with chuck, the fourth favorite for the race. we are extremely fortunate and excited to bring younger generation to the sport so we plan to definitely have a good time whether we win or lose. >> after the 30 tomorrow up next is the preakness. that happens in baltimore and belmont stakes and we will find out if we will have a triple crown winner this year. neil: that was great. always wanted to go there but i could never wear the hat. they say you've got to wear a hat. we have gavin with us, the ceo, you are making sure you get enough product everywhere including kentucky, so you are making up for a lot of lost
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time. how do things look now. there isn't enough beer to go around and supply is tight. >> we are excited about the kentucky derby. we sponsor the derby, live festivals and events like this give us an opportunity to sample our innovation. i am sure that blooming lifestyle will be available for fans to give it a try. as far as production is concerned, we have production to 1 million barrels a week as high as it has been for more than a year. as the premise opens up, we see the demanding crease and police are working to meet that demand. neil: how did you handle this pandemic? a lot of people were drinking
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during the pandemic but how do things look now? >> we are in a better place, the challenge was the shift in the demand created for kings and we spent the last year working to secure from around the world and we are in a good place from an availability point of view so much better place. neil: i was looking at your businesses, hard seltzer sales are up 50%, the last statistic, what is going on? >> we launched one brand in april last year, picked up 3 shares of the seltzer market and more recently launched our
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newest offering into the seltzer space, a spectacular launch in texas and southern california, several larger markets and it exceeded our highest expectations so we've got a winner, we increased the share of the seltzer market by 50% so well on the way to hitting 10% by the end of this year. neil: it is true that women dominate this market? >> you would be surprised. seltzers are drunk by everybody whether 20-year-old female are 50-year-old mail. it crosses over many signals. neil: i did to try to say something sexist needlessly. thank you, good luck on all of those fronts. all these businesses that are coming back, responding to the
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great reopening, a lot of areas where economic numbers are opening in california and amazon consumers with penta burge to buy and enjoy themselves, that is up. i want to bring a not so great news alert, we are not the only country doing this. ♪♪
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because of the tip shortage, delay in production getting a lot of hard cards out. something like -- the only company to say that, big players and the toy industry, the gaming industry, the computer industry all saying because of the shortage they are in a world of delayed shipments. china is a big reason for that. it has most of the market for chips responsible for that market and now wants to expand or take advantage of the situation. lucas tomlinson has more from washington. what is going on? >> reporter: 100 miles off the coast of china is the largest most sophisticated microchip maker in the world, taiwan. ships the power cars, phones and computers and beijing's government want a piece of the action. >> control of the semiconductor industry in taiwan, china would control the global market. they would have access to the
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most advanced manufacturing capabilities and that is more valuable than controlling the world's oil. >> martin lobster is at the center for new american security. he says the challenge taiwan poses is one of the biggest for the biden administration, beijing sees it is a renegade province preserving the semi conductor industry. 70% of the microchips in the world are made of taiwan in south korea, china the biggest consumer accounting for 60% of global demand and their appetite is growing rapidly. the white house blacklisted 7 chinese companies to keep the largest chipmaker in the world from selling advanced chips to china using making advanced weapons, beijing lags into mystic manufacturing for computer chips. >> china is trying to poach talent and get its hands on the
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equipment and has not been very successful so you can imagine the scenario where beijing decides it is worth the risk and invade taiwan to gain control of this vital industry. >> reporter: experts say whoever designs these microchips sets the course for the 21st century. neil: between rare earth, they own the world. thank you very much. we are keeping track of that, 200 points, interest rates holding their own which signs, oddity inflation picking up again with good economic news, you heard about magnesium and platinum, gold activity but by and large the relative yields
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around 163 relatively contained but that is the back and forth with the better economic numbers and concern about inflation. stay with us, you are watching fox business. ♪♪ nicorette knows, quitting smoking is freaking hard. you get advice like: try hypnosis... or... quit cold turkey. kidding me?! instead, start small. with nicorette. which can lead to something big. start stopping with nicorette
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>> welcome back, the face of the employment of gig workers brought to the forefront by the biden administration. marty walsh suggested he would be in favor of some gig workers, here's what he told reuters in an interview saying we are looking at it but gig workers should be classified as employees and in some cases treated respect fully and in some cases not and it has to be consistent across the board after president biden's joined address to congress when he called on the senate to pass
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the pro act which would overhaul labor laws across the country including potentially allowing gig workers to unionize. >> the middle class built the country and unions built the middle class. that's why i am calling on congress to pass the right to organize act. >> reporter: critics of the pro act say it would be bad for business. the national retail federation described it as the worst building congress saying this policy invented in the pro rata beyond reasonable workplace policy. the legislation puts the interest of labor organizers and powerful unions before the rights of employees and employers. the pro act passed in the senate. it faces a long road ahead. there are 47 sponsors all democrats and you know how the dynamics in washington work,
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for something to get across the finish line to get past the filibuster and 60 votes. a long way ahead but this issue of the employment of gig workers and they are they should be classified, highlighted in recent days. neil: if they don't blow up that filibuster. blake berman at a very windy white house. liz, explain why this could be a big deal with gig workers, independent contractors are treated as employees. liz: by background this push began in california where a year or 2 ago they passed a b5, it was entirely the teamsters union and the reason is the
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teamsters wanted to organize and create unions among uber and lift drivers but it ran into a brick wall because there are so many professions that would get caught up in this, many sued the state and said we can't manage, hairdressers and delivery people you will ruin our business model but what is infuriating, it would raise costs 20% to 30% because you have to abide by labor restrictions once someone is an employee but what is annoying is these democrats are saying to people who want to work on their own schedule is most uber drivers said they want freedom to manage their own lives and democrats can't stand that, they want to make sure you put in a 9-to-5 job like every other union employees, that is all about control like so many of these laws.
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neil: don't ruin a good thing. the workers seemed to like it, mutually supported to them, not like these companies don't have full-time workers but the government constantly inserting itself in things which it knows very little. >> there's a simple formula. if it is not working, try to fix it. if it is working, leaving the heck alone. seems like government wakes up in the morning and says what can we screw with next? lift and uber the we didn't know about 10 years ago and in a decade, $120 billion of wealth to market cap of billions in revenue and all
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these people who didn't have jobs who figured out i can make some decent money and i would wager that if you survey everybody you get 8 out of 10 and every time i go to uber or lift, independent contractor, they laugh, they want the ability to say to people we own our business, we own our hours, we dictate policy. liz peek is right, this is about governments wanting more control and dictating. leave well enough alone when things are working, take powder and something else to work on. >> break it again. thank you, let's take a look, the dow down 233 points. they are not entirely bucking the trend but there is a blowout quarter number, already made jeff bezos the richest man $40 billion richer. well north of $200 billion, 1
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>> i'm really excited just to be back, and like feel the disney magic again. >> we come every year and last year with it not being open, we were devastated so we made it happen. neil: all right, you know, disney, california theme parks, have been silent about four-12
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days reopening today, disneyland , disney california adventure park opening up 8:00 a.m., local time, and not a moment too soon, was really restricted to california residents 25% capacity, they hoping to get it up to 35% capacity, in the next few weeks if this goes well and on the right of your screen what's happening in manhattan right now , as that city plans a reopening, a full reopening on july 1, there are some differences between the new york city mayor and the governor of new york over the timing of all of this and whether they can go to a full 100% we're told that the governor decides it's not the mayor, tried telling that to the mayor these two guys like hate each other but bottom line, the reopening in one way, shape, or form is happening everywhere to steve moore, the former trump economic advisor, and also the head of research, and steve, you had been advocating when you were working in the trump adminitration elsewhere advising the president that these closure s and shutdowns were
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going to do more harm than good. health advocates argued for keeping us safe and all that but now the reopening is on and the economic boom is on as well. what do you think? >> no question about it. i mean, this is a operation warp speed recovery. no question about it. we now have over roughly half of americans have been vaccinated, 80% of seniors have been vaccinated. it's a great story. i'll give trump's credit for , you know, getting that vaccine developed and i'll give joe biden credit for very well done distribution program, but the point is, right now, in america, virtually anyone who wants the vaccine can have it. my wife just went a couple days ago. you drive up to the pharmacy, she waited 10 minutes in line and she got the shot and she's vaccinated. we need to get everybody vaccinated, but here is my point neil, why are we waiting until june 1? i think you said some of these states are waiting until june 1
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so open up the economy. the economy should be open right now just about everywhere. virtually everyone wants the vaccine can have it. we don't need to keep delaying these business openings, school openings, store openings, movie theatre openings. people should be pretty much back to normal, i think they're dragging this out too long, neil and i think that's going to be negative for these small businesses. neil: yeah, and the limited capacity as they do reopen but having said all of that, katherine, maybe we should look at the half full glass which is the reopening is happening and it's happening pretty much everywhere. >> it is. neil: i know, and katherine, you can help me with the economic numbers all look good, we were going through some of them, jobless claims low in the latest week, you have the pandemic expectations that employment and not jobs gained in the past month, we're probably in excess of 1 million after nearly the month before, so what keeps this marketerring in your view?
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>> well, that's -- neil: katherine first. >> the market keeps roaring, neil, but one of the things that we can continue to expect with regard to the reopening is that people will spend more money. we did a ticket analysis of consumer leverage over discretionary income, and that ratio, neil, which is basically how indebted are you, versus how much cash you have in your pocket, that's the lowest in decades so if we consider, as steve correctly said, you know, vaccinations are going very well. the state of florida where i am has been spectacular, kids have been in school, they only missed maybe two or three months businesses booming, new yorkers, new jersey, tri-state, my old neighborhoods are coming down in droves, so florida, i think, is a good example of an opened economy that has thrived, flourished and will continue to do so. with that said i think consumer discretionary as a sector is going to do very very well,
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because as the populous gets increasingly vaccinated people are going to go back to their old habits of consumption, and that is a very good for all things recreational. we're talking concert hall, we're talking, you know, movie theaters talking anything that people can have fun and do i think are going to do very well in 2021. word monday point, neil and that is that base effects are extreme ly favorable. so, 30% earnings growth year-over-year. fantastic but first quarter last year was dismal, second quarter last year was even worse so expect an even more stellar second quarter earnings season so i think this year is going to do very well. 2022 is where we really need to watch. neil: yeah, because the year-over-year comparisons are going to be pretty good lay outs for companies, right? and it looks great and so the further along we go, that comparison is going to get tougher. guys don't go too far we're going to be picking your brain on other big developments going on today including this
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inflation that still is kind of out there but i want to thank you both. meanwhile, i want to show you what's really going on when we talk about the approving move of the consumer, the average american, we keep telling you what's happening on the new home sales front, the existing home sales front and the hot markets and this blew a lot of people away when it was big sky montana that got all of the attention as the hot place to go for first home, second home, vacation hope , any home, it is hot hot hot and doesn't grady trim bell know it, he is in big sky as we speak. grady? reporter: hey, neil and home prices in big sky are sky high right now. there doesn't seem to be any sign that's going to slow down anytime soon. it's not just the world class skiing that people come here, but all sorts of outdoor sports from fly fishing to golf in the summertime and word is spreading that this is a great place, as you said, to own a vacation home. >> if big sky country scenic
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beauty was once a hidden gem, known only to avid skiers, the secrets out. montana's population, one of the smallest in the country, is growing, and many people are making big sky their second home rich rizzo, a new yorker who bought his house in 2018. the plan was to rent it out and visit occasionally but when the pandemic hit, he found himself without a job, and decided to move his family from the big apple to big sky. >> frankly, we hadn't been here in the summer or fall or spring, we just knew it as a winter destination, so now we're living here. its turned out to be great all around. reporter: realtor michael pit- karen has been non-stop busy since last summer. the median condo price he said is around $730,000. the median home more than $2 million. >> cash is king and that is certainly ringing true. we are seeing multiple offer situations when properties come on the market, and it is a
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feeding frenzy. reporter: michael told us normal ly after ski season, the real estate market tapers off a little bit, but that has not happened this year. some other top places to own a second home or a vacation home include cape hateras, north carolina, the poconos in pennsylvania and beautiful gatli nburg, tennessee and the smoky mountains. median home prices there a little bit lower, neil but across the country in seasonal towns, home prices are up 19% year-over-year. that's more than in non-seasonal towns. neil? neil: amazing, but that tells the truth that's a green screen behind you because that is just too beautiful for words. reporter: [laughter] neil: yeah, you got the right assignment this time, so ashley we thought was getting the good gigs, grady trimble, big sky, montana isn't that beautiful and it's all-cash buyer phenomenon, who first told us on this show that was going on a lot. i think founder and ceo big
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money energy, had a rule at work dominated light, make million, just an upbeat, very positive guy, wasn't all down in the dumps when new york was going through some bad times. i imagine he isn't down in the dumps still. ryan, good to see you back with us. how you doing? >> good to see you, thanks for having me, neil. neil: what do you make of what's going on in montana and all these other vacation haunts that are far from haunting, they're a luring and the buyer with the cash generally has the edge. what do you think? >> i think people don't know where to keep their cash. you've been doing a great job on your show following inflation and tracking what cash is even worth to people anymore, and i think for the first time since 2008, people are looking at their cash holdings and they've saying hmmm, i don't know if i should keep it where i've kept it for the last dozen years. i should put it into real estate , i should put it into
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cars. neil, do you have any idea how long it takes to get a stove right now? neil: oh, i'm sure it's a long time, right? >> it can be upwards of seven to 10 months to buy a stove. neil: what? >> to try to get anything else, the cost of lumber in certain markets has quadrupled because of the demands for people wanting to do upgrades to their homes in places like big sky, because i think, for the first time since lehman brothers filed for bankruptcy, the american people are looking at real estate as a great place to put their cash. it's now not just something that they buy because they need, because they're moving jobs or having a baby or just need more space. they're now buying it because they want it, and they're looking at it again as a healthy investment. it's not just for the 1%, or
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the high earners. it's everybody across all marketplaces and in new york city, finally, we are seeing that start to happen here and its been incredibly exciting. we just sold one of the first resales at 220 central park south a week ago friday, for , $ , 200 a square foot, $ 33 million for a three bedroom and that purchaser believes in the strength in new york city. neil: i didn't know you guys were the ones but sure enough. >> we're always the one, come on, neil. neil: there you go, but let me ask you a little bit about that new york now because there are a lot of worries and there's some back and forth between the mayor and the governor over that july 1, 100% open, you know, goal is realistic, but obviously , the better for properties there, commercial or residential, so how do you see things now? >> i see new yorkers, locals,
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and domestic purchasers panic, panic. they're looking for covid deals that are now gone. i get calls all day long and our agents get calls all day long saying hey, new york is on sale right, didn't 1 million people leave and we're having to educate them and say if you're looking for a great deal, you need to figure out how to go back in time and go back six to nine months ago, because those were great deals back then , but you can still get a good deal now, compared to the pricing that will be here in the future. so you're not going to overpay today. you're going to get a great deal , a discount actually, compared to what the assets were six to nine months from now, but what i'm telling you is once the travel ban completely goes away, people come back, the internationals will come back and they're going to ic p up new york city real estate because they will want to own u.s. dollars and that pent-up demand is going to really really really soak up the supply that has been choking new york for
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quite sometime. neil: so as far as new york goes and the the great comeback, i remember last time you were alluding to the people who felt the same way, you know, after the financial meltdown, more than a decade ago or 9/11, before that and it always comes back, are you surprised to the degree it's coming back, and is it split, you know, where the high end which seems resistant to getting hurt versus the low end right now that still appears to be at least a little more. >> do you know what, honestly? what i'm surprised about the most is that the first time home buyers, the lower end purchases in new york city and the burroughs came back stronger first. we felt it much stronger and faster in brooklyn than we did in manhattan. 500,000 to $2 million purchases started going into bidding wars in early january, and brooklyn and astoria and long island city while manhattan was still struggling along.
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now, those high end purchases have started following, and i think it's because a lot of those purchasers spent the last year purchasing in other places like big sky, montana, like palm beach where we've done a handful of record breaking sales, and miami, et cetera. now, they're looking at new york saying okay this is still a good place to own, this is a great place to be, life moves forward, manhattan is tiny and you don't bet against new york. neil: they only make so much land right? see you were worried before, ryan, i told you to calm down and don't worry about it and things will come back and now you're finally listening to me, so all right >> thanks. neil: no, please you don't have to thank me. ryan sherant, founder and ceo, it's a very good book, it's sort of like a think positively book and sometimes, we're consumed by our own fears and our own doubts don't be. we have a lot more, after this.
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neil: all right, india right now is a covid nightmare in case you haven't heard 38 6,000 new infections, record deaths and hospitalizations now for nine days in a row, nerd, each day is a new record, and now, a warning from the state department that any u.s. citizens leave india like now, rich edson at the state department with more. rich? reporter: good afternoon, neil and the u.s. is also trying to help india through all of this , as this startling surge nearly 400,000 new covid cases reported each day and with all of this you're now seeing first shipments of american aid just starting to arrive in india. those shipments include oxygen cylinder, diagnostic kits, masks arriving all part of $100 million u.s. government pledge to address a frightening covid surge there and india is responsible for nearly half the world's reported daily new
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infections. >> just in india, when our hospitals were strained early in the pandemic, united states is determined to help india in its time of need. reporter: though just as those first american shipments ghana i'veing in india , chinese xi-jinping told state media that china is willing to enhance its cooperation with india on fighting covid-19. she promised to provide support and assistance all in the middle of a covid diplomacy effort where china has tried to use covid relief to boost its world standing and this week the european union accused china and russia of trying to undermine trust in western coronavirus vaccines and the state department says secretary of state blinken spoke this morning to the indian external affairs minister to discuss coordinating their covid-19 responses. the state department is also offering family members of american diplomats in india the option to leave the country, what's called authorized departure, given the ramp and spread of covid there.
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this is all part of the u.s. renewing its travel warning, its level four it does not get worse than level four, telling americans, do not travel there. neil? neil: rich edson, thank you, rich, very much for that. you know, if you want to go anywhere in this country, even into a stadium, sometimes it helps if you have prove that you've been vaccinated. certainly it ill be that way on america's cruise ships that will be able to resume sailing in july, maybe sooner for a couple of them, but they too will require proof that you've been vaccinated. now whether that is via vaccine passport, whatever they want to call it, a company behind digitizing these records is joining us right now, and ramine , thank you for taking the time. how does this work? i mean, you're taking records of people who have had their vaccinations and they are digitized but you'll explain this better than i. >> sure, thanks for having me. so healthvana is a patient communication platform that's
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used by healthcare providers so county, states, municipalities across the united states and to- date we've actually delivered over 10 million covid-19 test results across the united states and we've now delivered over 2 million digital vaccination records and like you mentioned earlier we don't do this as a passport, we've been consistent on that, we use this for medical information. you can certainly get your own information to your health records. this is the exact same thing. it's protected by hepa, so you should have the right to number one, get access to that and number two, be able to correct any inaccuracies and use it if you want, if it is required in certain areas for the kinds of things you mentioned like going back-to-school or on a cruise ship. neil: so how does it work? what does the digitized version of my vaccine record show? >> it'll show what doses you've gotten and which manufacturer and your name and with healthvan a, what happens is let's say you're in los angeles county has been an incredible partner and really innovative on this work and you'll receive a
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text or e-mail saying your digital vaccination record is available and then you have a choice to click on the link, first name, last name, and date of birth and within 15 seconds you have access to a digital record and then put in your apple wallet if you choose and it's always up to patient and consumer if they want to do this and they can show it to whoever they want if they want to. neil: how do you avoid something like that getting hacked or someone downloading it and for whatever purposes? >> great question. we are under hepa, and the healthcare providers we work with are also under hepa, so we take all of the same times of security protocols that hospital s would for that level of medical information. neil: so the demand is coming from whom? i mean, obviously, a lot of companies might like to have access to something like this , if their employees are but who is buying into this right now? >> municipalities are our main customers for this initially there are employers interested in doing this really large
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employers but the main use case right now is giving people a digital version of that 3 x 5 card in case they lose it or the information is mistyped or the writing is a little bit off, and so we're able to deliver that information what helps with municipalities is they won't receive tens of thousands, hundreds of thousands of medical record requests for that information afterwards. additionally, it can help you get reminders about if there's a booster or for your second shot or a pause for j & j we can help with that communication serving as the conduit to a patient population. neil: all right, very intriguing , the healthvana, ceo, very smart way to make this easier because how many of you have those physical vaccination records and already getting worn out in your wallet, we'll follow that closely also l toking the push for more spending on the part of the administration, joe biden will be teeing that up in philadelphia today, once more funding for amtrak but do you ever wonder whose going to pay for all this stuff? i know the consensus seems to be among the administration and
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those supporting it, just the ultra-rich but i'm telling you if you tax the ultra-rich, it's near 100% it won't pay for all of this , so who do you think gets the bill next? >> ♪ ♪ ♪ ♪
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neil: all right, it's a given that the president has had a devil of a time trying to win over republicans role in spending plans but what if i told you he could have a devil of a time with some democrats as well, hillary vaughn with the latest on capitol hill. hey, hillary. reporter: hi, neil. well president biden is trying to create an appetite in congress for over $6 trillion in new government spending by saying he has a way to pay for it up front through tax cuts or tax hikes on the rich, but some democrats in the senate think he doesn't even need to do
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that. democratic senators brian schatz from hawaii and chris murphy from connecticut say they are open to adding trillions to the debt, to push through biden's agenda, and telling axios , "i'm not a big pay-for guy. i think some investments are worth deficit financing, nobody asks how we're going to pay for the united states military. it's only when it comes to progressive priorities that everybody freaks out and tries to find pay-fors, but other democrats like senator joe manchin and senator mark kelly have sticker shock over the pricey plans whether or not biden can buck up the cash, >> i wonder why we hear mitt romney or joe manchin, when we had the $1.9 trillion tax cut, $1.9 trillion tax cut, but the benefits of which 80% of it went to the upper 2-3% in this
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country and he is in fact saying we are going to make the necessary investments. reporter: republicans don't disagree these plans should be fully paid for and they also doubt that the tax hikes biden says will pay for it will actually cover the cost and senator chuck grassley tweeting this morning, "the combined wealth of all u.s. billionaires is just over 4 trillion, just increasing taxes on the rich, won't pay for biden's plans. look out middle class. " neil, the white house is clearly on defense today, trying to ensure americans that the middle class will not be paying for this , but the rich. white house press secretary jen psaki aboard air force one with reporters opened the gaggle by citing a study that claims that biden's plans would only raise taxes on the very top top 1%. neil? neil: yeah, a little bit more than 500,000 she was saying but again there's no way to crunch
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all of these numbers yet. all right, thank you very much for that, hillary vaughn. regardless of that reassurance, that the crowd is limited getting these tax hikes, the chamber of commerce says she doesn't like where this is going , take a look. >> we do know that the administration is targeting wealthy individuals, but also corporations by raising their rate from 21% to 28%. he wants mini minimal taxation and minimum 21% to make sure not a one of them dodges the tax man you're concern. >> you know, neil it's interesting, last night the president used the word " jobs" 51 times and he used the word"business" four times. now i'm not sure who the administration thinks creates jobs, but we think it's business. government can set the conditions for business to successor fail and this looks like a recipe for failure. neil: all right, so, the bloom is off that new administration rose between joe biden and the
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chamber of commerce, it wasn't expected to be all smooth , steve moore back with us , katherine rooney. steve, you know, you guys had your differences with the chamber as well, over other issues namely the trade battles, but this gets back to basics on taxes, and the chamber is worried this is going to have damaging effects on business, business hiring practices, do you agree with that? >> there's no question it will, neil. look we're living in a global economy. the american companies whether they're small businesses or american corporations are competing against china and japan, and germany, and france, and mexico. when we put our tax plan together for trump, we were looking at how do we enhance the competitiveness of our business, how do we make them tax competitive, how do we make them competitive in terms of trade and in terms of the regulatory burden and we lowered all of those , and it worked. i mean, my goodness i've got a figure for you, neil that you majority it not have heard before, but over the three years
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that after we passed that tax cut, we've brought in $1.5 trillion of capital from the rest of the world. think of how many jobs were associated with bringing all this money back into the united states. i think the chamber is very right to sound the alarms on these massive tax increases. the increase in capital gains, the increase in the corporate tax rate will make the united states a less hospitable place to investing in and one other quick point. i just don't see these other countries going along with this global tax rate. why would ireland who has the lowest tax rate in the world , why would they agree to that? neil: it's a good point. that might be donald trump for you, steve, so i'll let you get that. >> [laughter] neil: let me ask you, katherine because the last time we raised the capital gains rate back in 2013, all the doom and gloom concerns didn't materialize, now it was a different time different period, i get that but
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democrats argue that the selling in mass that some envision, or a freeze on all hiring that some fear just doesn't happen. it won't happen. they insist that. what do you think? >> well it's a very aggressive tax plan, because it doesn't just in corp. o rate capital gains go in the 20s to in the 40 s, more than doubling the capital gains tax but it incorporates as steve mentioned increase the corporate tax rate which makes us less competitive than our competition in the world, and i think that steve's again right in saying that this plan is very strange in the way that it's dependent on other countries to also increase their corporate tax rate, which they're not going to do and even if they do do there's loopholes to get around it for their own competitive advantage. add to that, you have the death tax, you know, that's also in the pipeline. the elimination of 10/31, the
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increase on the top tier of marginal taxes. all of this in an economy which is going to, these tax plans are going to go online and take us back in next year, in 2022. meanwhile, the economy could perhaps rollover, so i think it's really a bad time to hike taxes and i think the chamber of commerce is dead-on which who creates jobs and it's the small businesses and the private enterprise. the more taxes that the government requires each company to pay of course the less capital they have to invest not only in infrastructure and capital expenditureses but human capital , and that's people bringing them back to work, so less is more, taxes and regulation are going higher and i think that's going to be a strain on the economic activity going forward. neil: you know, steve, very quickly. president biden said in an interview i think it was on the today show, i could be wrong , c cbs, it was on an interview where he said this boom that we're enjoying is courtesy of all of this. what do you say?
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>> steve, can you hear me? >> sorry sorry, i couldn't hear what you just said. neil: oh,, um, that the administration is taking credit for this economic boom courtesy of all of the spending initiated. what do you think of that? >> well, look, spending has to be paid for one way or the other, neil. i heard your previous discussion about how democrats are going to pay for all of this and it is a big issue for them about whether they are going to pay for it with massive increases in debtor massive increases in taxes, and i've got to tell you i'm kind of undecided about that, because i think both of those alternatives have negative consequences. it's really a question of this , neil. do we raise your taxes now or do we raise them later? i mean, as art laffer and milton freeman always used to say, spending is taxes. it's just a question of when you're going to raise the taxes and this idea we keep pushing these taxes off in the future, i
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don't think that's going to be too calming to the financial markets either. neil: all right, guys i want to thank you both very very much and again the short-term effect, like a nicotine impact for spending, it does get the desired results right upfront. it's the effect afterwards, that's the big worry so we'll watch that close it and we're watching amazon, we're watching jeff bezos leaves day-to-day control of that company and behind him, much much higher net worth, charlie gasparino on that , after this. [announcer] durán catches leonard with a big left. ♪♪ you can spend your life in boxing or any other business,
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- hello, friends. michael youssef here. you know, the right says that christ was conservative. the left says christ was radical, but christ is the creator, god in human flesh, and he's the only one who can give you peace, and he wants to give you that peace, eternal peace. will you come to him? - [woman] are you looking for peace that can withstand any hardship that life can bring? visit to find answers. that's
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neil: all right, well what a way
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to go out of your company at least surrendering day-to-day control jeff bezos coming off a record quarter for amazon adding to his net worth by tens of billions of dollars in the process, the world's richest man north of $200 billion right now, that's charlie gasparino territory, as in charlie gasparino, who joins us now with the impact on all of that, and what mr. bezos does now. hello, my friend. charlie: well i think me and somewhat you and somewhat claman put about and somewhat my producer put about $4 billion in his pocket over the last week. let's backup a little bit. on monday, we reported that bezos and elon musk, the ceo founder of tesla, were almost neck and neck in terms of the world's richest man, with mr. arnold kind of in the middle depending on what day it is, these numbers fluctuate. that same day we reported trader speculation and it's pretty intense trader speculation
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people like scott redler, a friend of fox business on the show a lot, others talking about a lot of traders and investors talking about the need to split the stock and that they believe the stock, amazon stock, would split this year, maybe as early as yesterday, when they announced earnings. that didn't happen, but the stock would split because it's getting so high, the average retail buyer can't get in, and it's hurting essentially the share price growth overtime, because what's happening is mr. bezos keeps selling stock to fund charitable projects, his ex-wife funds stocks and he's got space exploration thing competing with musk. in any event, neil, on our story about that speculation, shares had probably one of the best weeks all year, in amazon, and that catapulted jeff bezos well- ahead of musk in terms of the world's richest man he's now at 200 billion or slightly above, mr. arnault is in second , mr. musk is third as you
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showed chador, $179 billion just mere billions between us, nothing big here, but it's just fascinating that we talk about a few billion dollars that was added to mr. musk net worth. those are fortunes, [laughter] you know that were created based on paper gains in the stock market, obviously, on our reporting but be that as it may, we circle back to scott redler, he's a very good market technical analyst. he believes that there's definitely going to be or very likely to be a stock split some time in 2021 particularly as mr. jassy, the new ceo takes over, that there could be a clean slate where bezos is out who didn't really care about shareholder concerns, all that much. it's kind of refreshing that ceo doesn't care about, you know, the wins of shareholders, but be that as it may shareholders are very important and then mr. jas sy would come in and do the stock split and one reason
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he probably has to do it, if you listen to scott redler and others is that again, mr. bezos keeping funding stuff by selling , when you scream in my ear like that, i lose concentration, [laughter] , but when you have, when you're selling into the market as much as they're doing to fund their side exploration, their side gig s, that's going to be a problem so they will have to cut or do a stock split, get people retail involved, get into the dow jones industrial average , and that'll keep the party going so to speak. neil: man if you think about it, its been years since a stock split, right? but i guess in this day and age, charlie now you can buy partial shares, it isn't as crucial, but it's still not as to retail investors is it? charlie: i think when you're in the dow it helps and it's not as easy fractional shares you can buy them but people like to
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buy a full share of amazon at $200, you know, it's logical, so again, we're not predicting this we're not going to say this is definitely going to happen. i'm telling you the market and many investors believe it will happen in 2021. neil: all right, got it, my friend. sorry for the voices in your head, but you're the only one hearing them, pal. charlie: here is the problem, i have voices in my head anyway, so when they start screaming at me they triple and double, you know? neil: yeah, exactly. all right, thanks very much. it's a reference only charlie and i got. we have a lot more coming up the dow down right now, interest rates holding their own and amazon in after-hours trading yesterday when the numbers came in yesterday it was up better than 200 points so not even compared the two but we start out the day strong almost up $100 and down to a gain of $14, do not cry, for amazon shareholders, we're just pointing it out. stay with us. >> ♪ ♪ ♪ ♪
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neil: could it be another gold rush? well it's on, more from california, claudia? >> hi neil well with gold touching more than $1,700 an ounce modern day prospector s
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are wanting to reopen an old mine that helped shape the history of this gold rush town, but not everyone here thinks a new gold rush is such a glittering idea. at issue here is the so-called idaho-maryland gold mine sealed up and abandoned on the outskirts of town since the 1950s for decades it was the most productive mine in the country and new owners doing drilling believe there's a lot of gold left providing a valuable commodities to investors and jobs for locals. >> 312 full-time employees, and very well-paid jobs that's an average of $94,000 per year before benefits and that's about double the average. >> but some residents are slam ming the idea, saying that while gold mining may be the city's legacy, it's not a good fit today. >> not just noise and traffic and vibration and congestion, but serious concerns, like putting an industrial business in a beautiful area, drops
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property values, so now people's nest eggs are going away. >> proponents argue the mine will have to comply with california's strict environmental rules and that the work will be done thousands of feet underground and the entire operation hidden by trees. more impact studies are being done, county officials could decide later this year whether to keep the mine field or let these new owners revisit the town's historic industry. neil? neil: wild. all that glitters is gold again claudia thank you very much for that and disneyland is glittering again reopening first time in 4-12 days albeit limited capacity, peter winner with us right now, is this unplugged podcast is usually popular and he is hugely authoritative on this , so pete, good to see you again. how do you think it's going to go today? >> so far, from what we're hear ing, it's going quite well.
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it's reopening something like this after such a long time is going to come with challenges but so far it sounds like it's going well. neil: so how are they doing it, 25% capacity thus far, they have plans to lift it if all goes well to 35% so could you explain the rollout? >> effectively, what they're doing is they are changing a number of features about how you visit the park, so now you have to make a park reservation. this is something that was introduced out here in florida at walt disney world last year when they reopened, their mobile app now is playing a much larger role in terms of mobile food ordering, contactless payments, things of that nature. these are things now disneyland is starting to embrace. disney world was doing similar things before. of course things like fast pass, well fast pass is here on the east coast. max pass was the feature out in california. that's not available yet, and we
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don't know when or if that's going to be coming back. neil: what about it's limited california residents in the beginning but how can they tell? how do they know? >> they are, from what we understand, they are checking residency id at the turnstyles. so to make a park, buy a ticket or make a park reservation they are asking to confirm that you are a california resident before you do that, and then when you go to the park, they are, from what we understand, they are checking id's before you can go in. they are very serious about making sure it's limited only to california residents, and that they are managing that capacity as best they can. neil: and how are they spreading people out on rides and shows like all of the other stuff they are known for? >> well i'm not sure yet exactly what attractions have reopened and which ones haven't. i know here in disney world, a lot of the shows and stuff still have not reopened.
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they are trying to keep anything where people are congregating in a close space off limits, so that has, that has kind of impacted, we'll say, crowd control and crowd flow here in disney world. i imagine it's going to be a bigger challenge out in disney land, especially the park itself, being that it's the smaller of the parks. california adventure being much larger, might be better with the flow but we'll have to wait and see. neil: scrunch them together. all right, pete werner, thank you very much. the good news is that it's open, right? the start is on. the reopening is on. the magic is back. (vo) while you may not be running an architectural firm, tending hives of honeybees, and mentoring a teenager — your life is just as unique. your raymond james financial advisor gets to know you,
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neil: all right, that'll do it for us, now to my buddy charles payne. hey, charles. charles: hey, neil have a great weekend my friend, good afternoon, everyone i'm charles payne this is "making money", and simply slated this earnings season, facebook and apple are higher, and also, amazon today as well, but there is something bothering this market, because well it's not acting like this is the strongest earnings season ever. plus with everyday prices summarying and free money to folks that stay-at-home, the working class is furious, and rightfully so. why a spike in inflation will cost massive upheaval in a mid-term elections and while president biden was pitching green jobs to the american people, gm was agreeing to make more electric vehicles, in


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