tv Cavuto Coast to Coast FOX Business November 24, 2021 12:00pm-2:00pm EST
the gimbel's brother department store held philly's first thanksgiving day parade in the year 1920. gobble. gobble. former president donald trump will join "varney & company" on friday morning 9:00 a.m. eastern. set your dvrs. do not miss it. there is a happy looking dave asman. take it away, i,. david: i love the plug for the trump interview. you're a newcomer to the thanksgiving deal, but have a great one. ashley: 33 years, i'm on it. david: 33 years. good for you. welcome to cavuto "coast to coast." >> david: asman in for neil cavuto. inflation is on the thanks differencing day table. it is hitting you. the white house says don't worry. >> see the price of gas drop where you fill up your tank.
families can rest easy. shelves will be well-stocked in stores this holiday season. david: we'll break it all down with the all-star lineup over next couple hours. former mcdonald's ceo ed rensi, national retail federation ceo, matt che, national homebuilders ceo jerry howard and fox news contributor charles hurt. first we begin at the white house with president biden on defense over his strategy to combat rising gas prices. edward lawrence is there with the latest. hi, edward. reporter: see how the defense goes. he has no public events on his schedule today. the president vacationing in a billionaire's home in nantucket as rest of us gets ready to fill up the gas tanks to go to the holiday dinners. the president is letting stand the announcement putting out 32 million barrels from the strategic reserve that will be replaced. additional 18 million,
32 million barrels. 18 million barrels already scheduled to be released pulling forward this year will not be replaced. adds up to 2.days of oil for the u.s. he adds, he announced other countries are on board with the release. look what committed here. the united states will release only 1.5 million barrels. india releasing 5 million barrels. south korea and japan agreed to release unspecified amount from oil reserves. chinese spokesperson will release oil based on its own needs. yesterday, energy secretary jennifer granholm could not identify the needs in the u.s. >> how many barrels of oil does the u.s. consume per day? >> i don't have that number in front of me. reporter: she doesn't have that number but the u.s. energy information clearly says we consumed more than 18 million barrels of day of oil in 2020, lowest annual consumption since 1995. granholm said americans will have to expect higher gas prices
sometime. >> we're in a transition. the transition does not happen overnight. we recognize we're not going to flip a switch to be completely all clean because we haven't done the investment necessary. the president just signed the bill. this is a short-term strategy to make sure that people are not hurting. reporter: but traders say releasing from the strategic petroleum reserves will not work. we're headed for 100-dollar a barrel oil again. the last time oil averaged more than one one dollars from 2010 to 2015 t was former president barack 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, no willow, no xl pipeline, no line five, no nothing. so guess what? if you're going to penalize everything the oil companies do, then the producers won't
produce. isn't that just common sense? david: end the show right here. i love thatfy. kingsview asset management cio, fox news contributor scott martin joins me now for reaction. i think my buddy has it exactly right. i mean we have the means, we have the oil. we have everything we need, we don't have to go hand in hat to the russians or opec. what do you think? >> yeah. i agree, david, under the prior administration we're on the way to be a net exporter of oil, not relying on opec. not relying on the biden administration to release the spr reserves, too late for thanksgiving travel. too late for christmas travel as well. look the administration wage ad war as larry said since they got into oval office. it will get worse because if you look at the green energy push that we have from the far left, david, we don't have the infrastructure to carry any of that, any of those plans,
therefore oil will continue to go up. i think to 100 at the very least. david: unbelievable. when we had energy independence, we were setting the world price, weren't we? >> we were. david, that is the other thing too. you have the permian basin with 20 million barrels right now. largest supply on earth. we're going ahead, drilling that. permian has largest month in sent. we had a chance to get oil exports going and we abandoned that. david: scott, there is another thing. we produce oil and gas much cleaner than russia and opec do. if the earns about all this are green energy, becoming more green we were becoming more green with natural gas. co2 emissions since 2010 when we really began to frack in a very strong fashion have come down i think about 23%, co2 emissions because of our switch to natural gas. now we're going in exactly the
opposite direction. 24% of our energy production this year comes from coal because we've been x-ing out a lot of the natural gas programs. >> we'll still need coal, david as we push forward with the electronic vehicles coming out. we've seen the ipos hot last couple weeks. natural gas, right. much cleaner. we have tons of it. never tapped it. natural gas prices through the roof along with crude. david: there is another thing. i'm tempted not to talk about it, but you have to because it might happen. the president's been talking about price gouging in the oil industry. i remember the last time president was talking about prides gouging. then from there we talk about price controls. we know price controls create shortages. we already have shortages. are we going to be facing price controls in the oil industry? >> we may. because you mentioned shortages already. one way we'll see price
controls, david, if the price keeps going up as we suspect it will. that takes care of one thing with respect to demand. price controls are not good driven by shortages or regulations. they need to let oil companies to produce, to put a cap on the price because i think 100 is definitely in the cards. maybe 120 by next year. david: to let the oil companies produce more and natural gas companies open up more pipelines and more drilling, you're going to have to have a president with backbone who will face the left of his party and i don't see much back own in the president on this one, do you? >> no, i don't. not only to the far left, david, opec as well. we have been bowing in front of opec since the administration got started. no green deal will happen. certainly opec has control now. david: agree with you. scott martin, thank you very much. new polls showing more than 3/4 of americans say inflation is affecting their lives.
a clear majority are blaming the policies of president biden. reaction from "washington times" opinion editor, fox news contributor, charlie hurt. happy thanksgiving. i should have wished it to scott martin as well. let me do it right across the top. administration is trying to hang inflation entirely on the pandemic or price gouging in the private sector. never wants to talk about its own policies. looks like from the polls we just saw that the public is not buying it. >> yeah. i think the public is not buying it despite a massive effort by most in the mainstream media to try to push this crazy narrative that president biden's policies have nothing to do with this, to the point where you go on social media right now, you go on twitter, you go on facebook, you make any comment about, thanks joe biden for the gas prices and facebook will come in and sort of tap on your shoulder say, no, no, you're not telling the full story. they will append all these
crazy, quote, unquote fact checks trying to claim that somehow gas prices are all about about the emergence from the pandemic which of course by the way, if you actually look at the numbers of the pandemic, we've had, more people have died in the past year under joe biden than passed away under the previous administration. so it is lies on every level, they're clearly trying to protect their political guy. david: charlie, have you had any of those fact-checkers deal with you in that way? >> oh, absolutely. of course my paper, "the washington times," you know, back in, i think it was in january or early february, we had a story about, that raised, i think the first questions about the lab in wuhan and it was a massive, concerted effort by facebook and "the washington post" and "usa today," other quote, unquote fact-checkers working at
the behest of facebook who shut down our story about the wuhan lab, silenced, it disappeared the story. this was a vital story. this is january or february of 2020 where we were raising serious questions all on the record, intelligence sources who dealt with china for a long time, about that lab and they silenced, they disappeared that story. of course that story has since proved out to be completely, 100% accurate. david: charlie, specifically on the issue of inflation and whether or not biden policies are causing it, have you been censored on that one? >> oh absolutely. more than just me, more than just my newspaper. regular, average, i talk to people all the time who, and a lot of them enjoy getting thrown in facebook jail, but these are regular citizens, ordinary citizens who send information back and forth, talking about gas prices and social media companies come in and tap them
on the shoulder and append their messages with these, with this propaganda, it is government propaganda, supported by the social media companies. it is appalling, david. >> now as i was talking to scott about, it is kind of classic marxist switch to blame the producers for everything that goes wrong. it is the fault of the producers, whether it is the oil companies that most people don't have a lot of sympathy for anyway or whoever it is in the private sector. >> sure. david: purdue on chickens, we'll talk about that coming up. anything involving inflation they're trying to pawn off on the producers but again i don't think, and even with all the censoring going on by the mainstream media, i don't think it is sinking in to the public. >> well you know i think it is real interesting joe biden is talking about gouging. the only gouging going on right here is political gouging and it is an effort by the biden
administration to pass policies that make carbon fuel unaffordable. that is part of their policy. it is kind of funny they go back and forth between that is their policy, oh, no, that is not what we're doing, yes it is what you're doing. you're exactly right, all the efforts by the media to cover for joe biden are clearly not working around the fact that the media tries so hard still not working it is proof, average american citizen can be lied to, they're lied to all the time. eventually they wake up, they say wait a minute, you're lying to me. they are clearly beginning to see through this. why you see biden's approval rating at 36%. anybody who thinks 36% is the floor doesn't know how bad it will get. it will get worse from now. david: even worse for the vice president. i mean the vice president has numbers even worse than that. it leads to a question, charlie, the final point, what happens in
2024? who will be running on the democraticket? a lot of people say biden wouldn't have the stamina to last for another term you look at kamala harris as a replacement, her numbers are even lower than his. who will be running on the democratic ticket? >> yeah. i'm in that camp does not believe joe biden can do it. just because for all the obvious reasons but i think the reason that the biden administration is floating all this talk about how he is going to do it to try to keep the, keep kamala on ice so they can come up with some sort of strategy for replacing both of them because like you say, am kamala harris is joe biden's 25th amendment insurance that is the only thing keeping him in office right now. david: i don't think we had a situation like this, first term president, neither the president, nor the vice president could be in the running for the next election. it is a very knew nokia moment.
charlie, have a great thanks giving. thanks for coming in. appreciate it. >> you too, david. david: after the break a shocking admission being brought to light about progressive bail reforms in wisconsin. jack brewer is next. why he says it is time for a new approach. [energetic music throughout] what's strong with me? i know when i'm ready to run. what's strong with me? i can find strength in a rest day. what's strong with me? there are some nights i sleep so well... i'm ready for anything. find out what's strong with you with daily readiness on fitbit.
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david: the death toll from that wisconsin christmas parade has risen to six now after an 8-year-old child died from the injuries. fox news core respond dent mike tobin is in wash shaw, wisconsin, with the very latest. reporter: david, the waukesha district attorney promised bail would be set so high that darrell brooks would not get out this time. we see the bail set at five million dollars. darrell brooks appeared in court wearing one of those suicide prevention suits. he had a covid face mask on. he seemed to rock and shake at the defense table. initially he was charged with five counts of intentional homicide. the 6th count is coming, a matter of paperwork, at 8-year-old jackson sparks died because of his injuries. the court said bail is high but reasonable in this case. >> i have no problem, with that
bail, it is extraordinarily high but it is an extraordinarily by big case and extraordinarily serious case with an extraordinary history. reporter: doorbell video shows brooks arrived at the home of daniel ryder 20 minutes after the at act. he claim he was waiting for uber. ryder didn't know about the accident and. police detectives, single police decktive first encountered the red suv with brooks driving it going through the barricades he was going slow enough the detective was able to pound on the hood to tell him to stop. got a good look at brooks but the suv only sped up as it got into the crowd of people. more detail on the november 2nd attack that is the attack in which brooks is accused of punching then, running over the mother of his child. initially we heard the detail
that when police arrived there were tire tracks on the woman's pants. we know that she suffered a dislocated femur and a broken ankle. in that case bond against brooks was ultimately reduced $1000. clearly he had access to the same vehicle. the vehicle now used as a weapon in that attack, allegedly, and again in the christmas parade attack. david: for the first attack $1000 got him out of jail. had he been in jail he couldn't have perpetrated this act he is accused of. thank you very much, mike, appreciate it. milwaukee county's district attorney previously had admitted the progressive reform he championed guaranteed someone would get killed but he went ahead with it anyway. jack brewer joins me now. jack, thanks for coming in. let me read specifically what this d.a., his name is john chisholm. this is what he said after he was elected. is there going to be an
individual i divert or put or i put into programs, treatment program who is going to go out and kill somebody? you bet. guaranteed. it is guaranteed to happen. it does not invalidate the overall approach. well i would think what happened on sunday does invalidate that approach, don't you? >> i totally agree. it is really sad. criminal justice people think it is a game and it really isn't in the way that you have to approach it. you know in the state of wisconsin they have over 23,000 inmates. they have a surge in the inmate population but their prisons unfortunately are completely understaffed. so that is a lot of the reasons why they want to get folks back on the street. but unless you do real rehabilitation, you see that let's not get confused. there is place for prisons. we have to have prisons in the country, prisons that work for people, prisons can get to the
root cause of so many issues of facing the population. so when you have these horrific events that happen, when you let people out, everyone can tell that this man was still sick. this man needed to be rehabilitated. so the fact that he was in custody and then we let him out without having real protocols, we're putting billions, literally billions of dollars into these department of corrections, it is just inexcusable. at some point the leaders and folks making these decisions need to be held accountable. david: i want to emphasize, you're one of those who takes, in some ways, what could be considered a hard-line but you care care a lot about prison ministry, prison reform, because there are peoples whose have been turned around by our outreach and efforts. but there are some people who are not ready, never will be ready. their problems go beyond
psychological to evil and some people don't deserve to be let out. >> that is exactly right. i'm in prison every week. i will be there in thanksgiving in friday, ministering speaking to my class. i've seen all across the board. i've seen inmates after spending five minutes with them, you can tell they have been completely reformed and are dead did i to go back out to society. david: how can you tell, jack? what is the clue to you to tell? >> it is a humbleness. it's a humility. it is the willingness to go out to actually serve other inmates. normally when you go out and dedicate yourself to serving others and to make and sure other inmates or other people around you have learned from their mistakes and hear your story and you're willing to be an advocate for righteousness, normally you have been reformed. you can just tell by someone's habit, their walk. the bible teaches that. you can tell the fruits the way we walk and things we do. it is no different behind bars.
you have leaders, people that teach. i actually have living in my house with me right now somebody i met in prison that came in, now he runs all my programs. i i met him three years ago in prison reform. he runs our programs. he was a violent criminal. he was violent. this was not someone didn't ever do any wrong but you can rehabilitate. the sad thing is, in states like wisconsin, they haven't done enough in the system, given the fact they have money. they haven't done enough to truly make sure they have rehabilitation programs. david: the criminals are playing the system. i mean they know how to get an out so easily. >> that's right. david: it is that the ease with which you can get out. this guy darrell brooks is a perfect example of somebody like that. 1000 bucks? he tried to kill his wife and he got out with 1000 bucks? i mean it is just crazy. i just, i don't understand what
is in the minds of district attorneys that go ahead with policies like this. >> no, it is sad because they also have families. then you would think they would want to protect their own communities, their families, the families around them but you see so many heinous crimes being committed, people getting out these days. we need a complete overhaul of our criminal justice system. the sad thing is, federally we want do things. on the state level we need to make sure those things are going down as well. highlight -- david: there are 2500 district attorneys all around the country and each one has to be dealt with. i am sorry to rush you jack, we got to go. >> no problem, i want to emphasize your work in addition to what you talk about, you work with the meals on wheels folks this thanksgiving. tell us a little bit about that. >> tomorrow morning we're up 9:30 in the morning delivering meals across broward county. find a local meals on wheels. keep in mind, our feigndation,
the jack brewer foundation we put the giving on thanksgiving. put the giving on thanksgiving. love your family. don't forget to serve your community. david: have a wonderful thanksgiving with you and your family doing great work you do. jack brewer. >> god bless you brother. david: god bless you, my friend. nba star ennis kanter speaking out very frankly about china's abuses and dunking on his fellow players for staying silent. we hear from him coming up.
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throughout the morning. people coming in on their flights, arriving here. you said it, one of the busiest times of the year to travel. thanksgiving, it is such a busy travel day. a huge part of all of this, that we're really returning back to normal after last year when thanksgiving was very slim and very little travel. put in perspective how much travel we're dealing with, united is expected to fly 4.5 million americans. last year they flew two million. over double in just one year. so this entire flight season will be a test for the airline industry as a whole. they are dealing with cancellation issues, as well as staffing shortages this next week will put them to the test. look where we stand when it comes to the delays and also cancellations. so we're trending in the right direction for delays on monday. there were 4,000 flight delays. on tuesday, looking at 3,000. we're hoping that continues to
go down. to try to avoid more problems, a couple of airlines that experienced cancellation issues that i mentioned, they have made some adjustments. southwest reduced flights in both november and december, to make sure flights on the schedules actually do fly. american airlines is offering premiums and bonuses to workers who take shifts throughout the holidays. the passengers we spoke to say they noticed that the airports are a lot busier. some have experienced issues. >> a lot of people. a lot of people prepared, a lot of people going on the plane, a lot of people sitting next to me on the plane. what can i do? >> our original flight to new orleans got canceled. then we had to fly to orlando and then new orleans. >> reporter: we mentioned a lot of problems but passengers are creating problems. up to this point in this year, the faa investigated 991 cases
of unruly passengers. in 2019 before the pandemic, they had 146 cases. so hundred uns more. if you want to be on time for the flight if we all could be more friendly flyers, help things move smoothly. david: god we need some of that. madison, appreciate it. there are reports nike is canceling some orders until summer 2022. supply chain issues wreaking havoc on holiday shopping. let's bring in the national retail federation ceo matt shea. great to see you. i saw this letter on the internet, on twitter, it is rather shocking. i will read part of it. dear partner, as a result of this dynamic and unprecedented situation we regret to inform you nike future orders in spring of 22, summer of 22 and the balance of holiday 2021 will be
canceled. there are reports that letter was canceled. somebody got freaked out about it, nike was worried. do you know anything about that? >> david, good to see you. i don't know anything about that nike has 1000 stores around the world and this seems like a isolated incident. we've been hearing from ceo's last couple weeks, earnings calls, companies like walmart, target, macy's best buy, talking about inventory positions how much better they are this year than last year. for our part they're encouraging consumers. they have been listening to, get out to start the holiday shopping even earlier than before. last year half of all-americans who said they would go shopping had started by thanksgiving. this year that is almost 70%. so people are starting earlier. they're trying to avoid crowds but also make sure they get the things they need and they want
this holiday season. david: matt, let me be clear about this, what you're saying inventories are better this year than last year despite all of the supply chain problems we've been having? >> in many cases they are. for a couple of reasons. number one the unprecedented amount of imports we brought into the country. over the last two years we've increased number of 20-foot containers you see sitting out in san pedro bay in long beach increase by 30%. so 26 million will come in this year. 20 million came in in 2019 which was a record year itself. for all the creeking and groaning we hear the supply chain make as we put the incredible pressure on it, we're doing a good job filling demand. you talked earlier this afternoon on your segment on inflation, we've got two kinds of things happening. we have incredible supply shock. we also got historic demand
shock. we put five trillion dollars of fiscal stimulus into the economy this is what you get. we're prepared to have a great holiday. david: you also have a unprecedented labor shortage. we never had 10 1/2 million unfilled jobs in this country. there are a lot of supply chain issues directly resulting from that. there are from the enough people to unload at the docks, for example, not enough people to work on ships. there are real labor shortages, causing real supply chain problems. that has got to boil down to the retail market? >> david, you're absolutely right. we've been talking about the labor, workforce, working through our foundation, educational certification programs trying to get people back to work. there is no question we see business and the economy recovering in thing the in aggregate at macro level in the labor market. some of that has to do with certain of fiscal stimulus we put into the market, some benefits we put out that created
some disincentives to go back to work. so the labor market is lagging the jobs market. we have far too many people not back in the labor market. the workforce participation rate is at historic lows. we need to get america back to work in all the logistics, transportation, supply, warehouse jobs and retail jobs. we're looking forward to a great holiday season. we think we'll have a great thanksgiving weekend. david: matt, i love your optimism. i hope it pans out. we hope people get what they're shopping for. matt shea. >> thank you. david: coming up, is russia gearing up to invade ukraine? the very latest out of the pentagon and how the u.s. might respond after this. ♪.
david: keeping a very close eye on russia. the u.s. is considering sending extra weapons to ukraine as fears are mounting over potential russian invasion. jennifer griffin at the pentagon with details. reporter: hi, david. the pentagon is weighing whether to send more weapons to ukraine as all eyes are on vladmir putin's next move. 100,000 russian troops remain in formation on the border with ukraine. preparations for a very strong u.s. response i'm told is underway. >> not sure exactly what mr. putin is up to but these movements certainly have our attention. reporter: general mark milley, the chairman of the joint chiefs spoke to his russian counterpart today and to his ukrainian counterpart in recent days, the second time in a week. the americans share intelligence with european allies show
buildup of russian troops to prepare for a rapid large push into ukraine from multiple locations. tony blank ken announced sanctions that could target the nord stream pipeline. >> [inaudible]. people are reluctant to do that, i think if there were a major russian invasion of ukraine involving full russian military, that should be an option we consider. reporter: putin leveraged halted gas supplies to western europe to allow him to make his way into ukraine many fear. they warn that the migrant crisis how putin can weaponize migrants via poland and divert away attention from the russian military buildup. >> so the gas leverage and the crisis on the belarus-polish border gives moscow more
confidence they could strike with less risk. but i don't think moscow believes it can strike with no risk. they understand this is a inherently dangerous proposition. reporter: u.s. intelligence officials believe putin will do what he did in 2008 by invading georgia, an effort to prevent ukraine and georgia from becoming part of nato. russian troops are occupying territory in northern georgia more than a decade after that surprise invasion. david: seems like a bad time to give them the green light for the pipeline as the biden administration did. makes that decision even more puzzling. jennifer, thank you very much. have a great thanksgiving. appreciate it. after the break, all aboard. the new strategy to use rails to ease the supply chain crisis. we're live in california with details. national association of homebuilders ceo jerry howard is here with his take when homebuilders could start to see some relief from the supply
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david: fixing it with freight. with cargo still piling up at the ports officials are starting to lean on rail to solve the problem. fox's kelly o'grady in california. reporter: good to see you, david, i'm at the bnsf railway. this is the largest rail yard in north america. moving them could help unclog and it is more efficient than trucks, more sustainable, and more important the -- i want to dig into the efficiency piece. just one train can double stack containers is able to move as much as up to 400 trucks. that is a pretty interesting
comparison. rail already transports 30% of the cargo coming out of the l.a. ports. increasing that could be a game-changer for those containers floating in the harbor. also more sustainable with fuel prices skyrocketing. for example, a train can move a ton of freight 500 miles on a single galon of diesel. bsnf saw this before covid and expanded how much they can transport. >> increase the amount of lift capacity we have to move containers throughout our facility more than 20% over the course of this year. we have deployed more than 1000 locomotives over the past 18 month to help handle volume that was going to come on. reporter: now the folks at bnsf tell me they could be moving up to 10% more than they already are. experts say that will have to change permanently in the long run. folks here, rail networks in general are upgrading their track in order to increase the demand brought on by the accelerated shift to e-commerce.
this could be a short term and long-term play. all aboard if you except my pun. david: i hope it works. kelly, thank you very much. the housing market is on track to have the best year since 2006 despite supply chain pressures. let's bring in national homebuilders ceo jerry howard. jerry, nice to see you. happy thanksgiving. >> you too. david: this is at least the worst time of the year in my own experience to try to buy or sell a louse but it shows no sign of slowing down, does it? >> it is slowing down a little bit. we're down about 4% year-over-year from last year but we're having another terrific year. it is all pent-up demand due to the covid recession and family formation coming out of that is very, very high right now. david: well, i should emphasize, by the way, that i'm referring primarily to existing homes because not a lot of new building going on, at least in comparison to other hot markets
because of the problem with labor and of course the supply problem as well. >> you're exactly right and if you're talking about existing homes you're right, they're still selling like hotcakes, in terms of us being able to meet the needed demand to fill in, we're about a million housing units short. it is getting worse rather than better. that is all because of two things, the supply chain and labor problems. david: how much have costs gone up? if you want to build a house now, as opposed to two years ago at the end of 2019, what kind of price increases are we talking about, both for labor and supply. >> you're talking about 17 1/2%, increase in costs. that gets passed on to consumers. david: the effect that has is more than 17%. you have 20, 25% in terms of the lower amount of inventory, right? >> what that does, it shuts out
first-time homebuyers. the first-time home first-time home buyers are the key to the housing market. when they can't afford to get into a house, it slows down move up buyers, everybody else with dramatic impact on the economy. we have to get the problems fixed soon, or we'll be into a real housing problem in this country. we have an affordability issue. now we'll make it worse. david: is this why rentals have gone up so much? >> absolutely. because people who, families that are forming, that want to, that want to buy a home can't afford it. they stay in the rental market. the vacancy rate is low. landlords take advantage of the market, raise rents. multifamily construction slowed down just as much as single family, so there is less supply. david: by the way all of these problems we've been talking about make it tough on renovations as well, right? >> oh, yeah. in fact during the covid
lockdown a lot of people were trying to do a lot of stuff on their own. a lot of do it yourselfers. now you can't even go into the hardware store necessarily buy the tools, let alone appliances you want to put in your house. david: jerry, the worst storm, if you will, is one staffing nation. where you have both inflation and then a slowing down of the economy. are you worried that some of these problems could lead to recession? >> yes. our economists are very concerned about that. david: wow. what do they tell you? what are the chances? >> well, we're hoping that we can see some improvement in the supply chain in time for the spring and summer building season. although now, just today, i understand the administration is raising tariffs on canadian lumber which is about 30% of the lumber we use. lowering tariffs on chinese goods, raising them on canadian
lumber, i not sure i understand the logic, it will have a big impact on housing. if we don't get the supply chain fixed in time for the spring market, i think we'll have a lot more problems. david: it is weird, isn't the tariff on lumber coming at the wrong time because we're finally digging ourselves out of the hole there? >> it is exactly the wrong time. i don't understand. we're communicating with the administration. we're asking them for help. instead we get increase in tariffs. david: jerry howard, wish you had better news. coming up, senator elizabeth warren is crying foul over higher turkey prices. who she is blaming and what former mcdonald's usa ceo ed rensi, a man who always tells it like it is about all of this? coming next.
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muck running on empty, running on -- ♪ running into the sun -- taistled david a blast from the past. thanksgiving travelers having obey more as gas prices remain near record highs. welcome back to hour two of coast to coast, i'm david asman in for neil cavuto. white house now on defense over criticism that releasing oil from strategic reserves are not going to move the needle to lower soaring gas prices. edward lawrence is at the white house with the latest. >> reporter: hey, david. the president, though, he's many nantucket vacationing at a
billionaire's home as the rest of us are getting ready to pay more for thanksgiving dinner but also on the drive over. the u.s. is announcing they're releasing 50 million barrels from the strategic petroleum reserve to supplies out there, but yesterday the energy secretary could not say how much oil the u.s. actually uses. the administration is pushing out only 2.74 days' worth of oil. traders are saying that that will not have an impact on oil prices which actually moved up yesterday. republicans saying clearly americans know where the blame lies for the rising gas prices. >> they're the ones that shut down domestic production of oil, shut down our own pipelines, and now they're begging opec to increase production to lower gas prices that we're experiencing here in the united states all because of the decisions that they've made. >> reporter: and again yesterday the white house press secretary saying they will, again, ask opec to push more
oil. listen. >> increasing the supply, something we've asked opec plus member countries to do, we will continue oppress them to do. >> reporter: but "the wall street journal" reporting that the top producers in saudi arabia and russia may counter the move by the u.s. and hold off on producing more oil, further constricting the supply chain around globe. clearly not getting message from this administration which is now adding regulations on the fossil fuel industry as well as discouraging investment in pipelines. and, david, wasn't it einstein that said insanity is the doing the same thing over and over again and expecting the same result. david: i'm going to quote with senator kennedy who said the oil is in texas and louisiana. dipsticks are in d.c. [laughter] that was john kennedy who said that. never short of a saying. edward, thank you very much. "the wall street journal" writing, quote: mr. biden's strategic petroleum reserve withdrawal is intended to give the appearance of doing
something about prices with actually doing nothing. joining us now is daniel turner. daniel, great to see you. markets weren't impressed by the move of president yesterday at all. oil prices, instead of coming down as a result of this announcement, they went up $2 a barrel. i mean, you know, it's down a fraction today the but nothing as to the gain of yesterday. what's going to happen with this decision? >> yeah. this really has absolutely no impact on gas prices. the only way to bring down the cost of gas, to bring down the produce of oil is to radically increase the supply. remember, we are manufacturing, we are producing 2 million fewer barrels of oil a day than we were a year ago, and as edward laurent was just saying, the reason why is because they have scared off investors. the administration has put tremendous burden on oil and gas producers, so it is very hard for them to produce oil now. releasing 50 million barrels, which is just a few days' worth of oil, is not going to help the supply in the long run.
the decisions that we're feeling now, the impact has come over 10 months of bad incremental decision by this administration. it's all caught up to us now, and in order to reverse that the, they have to reverse these decisions, but biden will never do that. david: well, even if he did, would the oil industry believe him? oil industry is based a certain amount on faith that the government's going to go in a certain direction. i just don't believe that they think he can change policy sod radically -- so radically. he said he wants to destroy the fossil fuel industry. he said that when he was running for president. i think he still does. >> yeah, i think that you raise an excellent point in that you have to create a market -- a climate where markets are comfortable operating, where diss is comfortable operating. -- business. canada entered into a good faith arrangement with the american government, went new all the necessary legal and compliance
hurdles to build this pipeline, biden cancels it. now he's threatening line three in minnesota, line five in michigan. why would canada want to do business with us in why would mexico who's also a very important oil partner in why would they want to do business with us? so you're right, these decisions by the administration will scare off a lot of fossil fuel investment. but that is actually the intention. they don't want investment, hay want this green agenda. and to get it, they have to punish the fossil fuel industry into oblivion. david: but it's only our fossil fuel industry. they're begging the saudis and russians to produce more. yesterday, as my buddy larry kudlow said, the president got it right. the reason prices are going right is because supply is way down, and we need to goose up supply. but he's talking about goosing it up overseas, not in any way that a will either help american workers in the fossil fuel industry or create a cleaner environment because the russian ares do it a lot dirtier than we do. >> they do.
and this is one of the advantages of the energy independence we saw in the previous administration. for starters, it lowered cost of living for the average american. it was easier to pay for gas, grocery prices were lower, commodity prices were generally lower. so energy independence was good for our economy. secondly, it also bankrupted a lot of bad actors. just because of the way the geology of the world is currently, most oil and gas is found under the feet of rogue regimes, and that's unfortunate, but it's truthful. it's iran, russia, venezuela, saudi arabia. so as prices go up, those countries increase their wealth. and what are they going to do with that wealth in they're going to sponsor terrorism. vladimir putin is amassing an army in crimea, another army in the arctic circle. so energy independence isn't just good for our country and our economy, it is great for our national security because it bankrupts our enemies. david: and by the way, you
didn't mention iran in that list of awful -- people that we have trouble with, let me put it that way. if the biden administration signs off on another nuclear deal like the one trump got rid of, they're not only going to have a new nuclear deal, they're going to have oil at twice the price it was two years ago, so they're going to make out like bandits. >> and that's why opec plus doesn't want to increase supply. they enjoy the higher price points. remember all those crazy things you saw in dubai, indoor ski resorts, the world's tallest billings? -- buildings? this is going back 15 -- david: you know, that the doesn't wore me as much as giving the iranian mullahs so much that they didn't have. they were right on the edge of losing their power as a result of what was happening during the trump administration. now they're getting empowered again because of everything that's going on. st crazy policy. we've got to leave it at that. daniel turner, have a great
thanksgiving. thank you for coming in, appreciate it. well,ing a new poll hoeing 77% of americans say inflation is affecting their lives directly, and it's about to affect your thanksgiving table. grady trimble is live in naperville, illinois, with more on this. hi, grady. >> reporter: hey, david. your whole thanksgiving meal is going to cost about 14% more than last year, that's according to the good folks at the farm the bureau. one item that's costing quite a bit more is that's turkey. thanksgiving turkey. we opted for the smaller bird with no wings or drumsticks because we couldn't afford the bigger bird. these turkeys are up 24% from a year ago. we're going to let that cook because we're still working on it, and hen i'm going to do my best bob barker to run through some other items. pretty much everything you need to make a pie, two frozen pie crusts, $2.91 on that, that's up 20% from a year ago. we made this beautiful sweet
potato cause role with the brown marshmallows, three pounds of sweet potatoes cost 3.66, up 4%. cranberry sauce, a thanksgiving staple, a 12-ounce bag of fresh cranberries, $2.98, up 11% from a year ago. dozen dinner rolls, $3.05 is the cost on that, up 15% from a year ago. and, by the way, we spared no expense on these graphics today. one piece of good news that i want to inwith, and that is something -- the only item the farm bureau says has come down in price, stuffing. i don't know why but it's down 19% from a year ago. david, we're here at our producer phil's house, so you see we have our plates set, but it's just me, my photographer and phil. you're welcome to join us if you can drive in time for dinner tonight -- [laughter] oh, yeah, gas is going to cost you more as well. david: by the way, you said 24%
increase in turkey. what is that in dollar terms? jen psaki said it's only a dollar more this year than last year. >> so it's $1.50 a pound total, 24% increase from a year ago. david: all right. of she got her numbers wrong, not surprise. thank you very much for that, grady, appreciate it. well, senator elizabeth warren is now calling for the justice department to look into investigation into anti-competitive practices by the poultry industry as turkey prices soar ahead of the thanksgiving day thol holiday. reaction now from former mcdonald's usa ceo ed renzi. ed, great to see you. what do you make of senator warren's attack on turkey farmers? >> she's a little bit late and a dollar short. justice department launched an investigation in 2016 on price fixing and settled the final amount with tyson's foods which denied any complicity in this in
the early part of 2021. pilgrim's pride was at the nexus of that and was fined $105 million, and i think tyson was somewhere around $225 million. i know the supply chain very well, and i can tell you it is not as simple as elizabeth warren pretends it to be. food prices for chicken, poultry, turkey is up about 35% because of soybean shortage. additionally, diesel fuel prices are up 67%. we've got a shortage of rucks, shortage of workers -- shortage of workers, shortage of truck drivers, all that transportation plays into this, and i think warren's statements, desire and wishes for investigation is a deflection away from the severe, bad economic policy of joe biden. every move he makes is destroying this economy, and it's really defeating purpose of what he's trying to do. we could have a great green economy if we put our best minds
to it and work at it intelligently. but you can't bully anybody into anything in this country. we like being led, not managed. that david well, they're looking for a bogeyman, ed, you know that. they're trying to deflect blame in themselves and looking for somebody to blame, so hay go to the producers -- they go to the producers. it's a combination of the labor shortage, a lot of that has to do with biden policies. it's the pandemic, of course, because starting up an economy from essentially zero at one point has a lot of problems, and you mentioned the soybean problems. so it's a lot of tough. it's not that they're looking for just one bogeyman to put it all on. >> well, it's a false statement from the very beginning. it's not an intelligent discussion in any way, shape or form. it's the like biden punishing the oil industry in the united states and then begging the global oil industry to bring us out of the -- david: that's nuts. >> it's insane thinking.
for him to open up the oil reserves, that's .5 of one day of the world's usage. it's just insane. david: let me switch to restaurants, one thing after another, as you well know. the lockdowns, crime played into their businesses, inflation, the labor shortage and, of course, vaccine mandates more recently. what's the latest? is there any light at the end of the tunnel for them? >> well, you know, restaurant owners and operators are really living their lives for great hospitality. they find their ways around these problems as much as they possibly can. but it's getting to be a real burden. we've had, you know, 8, 9% increases in sales, but i can tell you right now i'm looking at transactions. transactions are really the true understanding of growth in a restaurant and hospitality industry. and transactions have flattened out and started to decline even
though sales continue to go up because of inflation. and we're very quickly headed for stagflation. i can see it already in the sense that restaurants are charging more more, and customers are buying less and less. just one fact. price increase in fuel has caused the disposable income of the typical family about $1450 in the past year. their food away from home budget's about $4500. that's almost 35% of the total budget being allocated to tulle fuel to live. that does not bode well long term for the hospitality industry, and biden is at crux of this. david: and we haven't talked about taxes and regulations which are both increasing. we still don't know exactly what the tax plan is, but you can bet it's going to hit small businesses hardest. particularly the franchisees, because they're folks when take their profit as personal income. so once those personal income
taxes go up, heir going to get killed. -- they're going to get killed. >> well, that's a very, very scary thing from my point of view because the franchisees have been having a pretty good year because of the way they reset their businesses with deliveries, drive-throughs, digital, whatever you. but these income taxes, if they're projected the way i've seen them, if they come true the, these guys work around 8-9% margin in their restaurants, and you're looking at a 20-25% drop in that margin because of state the, local and federal taxes. when the feds go up, states follow, the counties follow. with this inflation, property taxes are up, payroll taxes are up it's just incredible the a amount of government interference in the laws of supply and demand right now. tawf said ed renzi, we've got that go, i'm way over time here, but final question. anybody you see in the administration who understands these basic issues of running a business that you're talking about and yo know so well in. >> yeah, larry kudlow.
whoop, wrong administration. [laughter] david: no, i'm afraid. nobody -- i mean, have you talked to them? have they called you? is there any communication between the administration folks on ground doing business in. >> absolutely not. they've never called me except if they wanted a campaign contribution because i don't believe in their philosophy. david: ed renzi, pleasure to talk to you. have a wonderful thanksgiving. thanks so much for being here. >> you as well. david dave thank you. well, a quick alert for you as we head out to a break, elon musk selling another $1 is billion in tesla stock. his selling spree now up to $10 billion. tesla stock is up slightly today as you can see. we'll be right back. ♪♪
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♪ i've got two tickets to paradise -- ♪ won't you pack your bags, we'll leave tonight. ♪ i've got two tickets to paradise -- david: well, the busy holiday travel season is upon us. u.s. airlines are going all out to staff up. casey stegall is live at dallas/fort worth airport with the very latest. >> reporter: david, good to see you.
yeah, it has been a busy day here at dfw airport u and it will be through the afternoon. people who had to work today then come here to the airport to catch evening flights out of here. i want to hop out of the way and show you a live look. this is the international terminal here, so it's not as busy as some of the other domestic terminals may look. you see not terrible right now at the ticket counters back with there. some 2.3 million peaks are expected -- passengers are expected to flow through dfw alone. that is not quite pre-pandemic levels but close. nationwide, the tsa expects to screen about 20 million. there were earlier concerns that the agency could not handle these kinds of numbers because of the federal vaccine mandate, but tsa has announced 93% of its staff is vaccinated, so they're, quote, staffed and prepared. >> working with the other employees to bring them into compliance. that's how we can say with confidence that we will be fully
staffed to make sure operations go quickly. >> reporter: now, mesh and southwest -- american and southwest, you remember, were among two airlines in recent months to experience mass cancellations mostly due to bad weather, but now the carriers hope that new incentives will help like triple pay for american airlines' flight attendants, for example, who don't call out sick during their holiday shift. the flight attendant union says that should help because there has been reluctance dow to recent incidents of unruly passengers. >> what's really needed for people to say to their families who are concerned that they're going to work in a combative situation, hook, i'm going to go, but i'm going to bring a little more home, and we're going to do a little bit better. that's really important in order to make sure we can meet demands over the holiday season. >> reporter, and you know, one little thing to pass along since we've listen -- been hanging out
here, a couple of folks have stopped by, and they just said tell your viewers to bring a little kindness with hem onboard. and so we're just passing that along. as we said, there have been this increase in the number of these in-flight incidents, as you know, david. and so the flight attendants and flight crew are just asking even to be patient and also be kind. they'd david it is a very -- imagine being locked into a room and if you get out, you die because it's up in the air, and with people that are so nasty. i mean, it's just, it's a very tough the job. i'm glad they're giving triple pay to folks who are working on hop holidays though. that's a good thing. happy thanksgiving. well, retailers all over the country are dealing with flash mob robberies. i'm sure you've seen the video. former boston police commissioner, he was one of the best, ed davis on what these cities need to do to stop this
♪ >> i was doing a basketball camp, and i was with the kids, and one of the parents turned around and said how can you call yourself a human rights activist when your muslim brothers and sr.s are are dying in china? you are fake. you know, i turned around to that parentings and i said, you know what? you are right, i'm going to, you know, study about it and get back to you. and once i studied, i was very ashamed of myself because i was, you know, i couldn't believe the last, you know, nine, ten years i played in the league, i didn't bring any if words to this conversation. so i was, like, it doesn't matter how is this going to affect me or anything i'm doing, i'm going to speak out. and, you know, some of the things e talk about nba a might not like that, but tood bad because this is bigger than basketball.
david: i'd nominate him for the nobel peace prize. enes kanter on why he is so vocal speaking out against china, criticizing fellow players and organizations for staying silent on abuses. jamie dimon says he regrets his recent remarks about china. on tuesday dimon said, quote, i made a joke that the communist party is celebrating its 100th year, so is jpmorgan, i'd make a bet that we last longer. well, this morning he apologized for, quote, disrespecting the country of china and its leadership. let's get to hudson institute senior fellow rebeccah heinrichs. well, it's easy to see who has more stamina if, enes kanter, the nba basketball star the, or jamie dimon. >> that's right, you know? enes kanter, everyone needs to model themselves after him. what a great example of a great man and of a great american who says there are some things that are just more important than
money. and that's the opposite lesson we're learning from dimon who cracked a joke about his company outlasting the chinese communist party. that should be something that all americans hope for. we should all love to see china become more like taiwan, a free and open democratic society that is not, you know, abusing its people with genocide camps. fact that he cracked a joke is revealing he knows better, fact the he walked it back shows the coercive power that the chinese communist party has over these businessmen who want access to that market. david: i was kind of either way on whether or not we boycott the olympics before i saw what -- and don't get me wrong, jamie dimon's a great banker, he's a pretty right-thinking person on economic policy as well, but the bottom line is it just shows you how little stamina the corporate community has and people are saying, well, we shouldn't
completely boycott the olympics, we'll just find a way of pulling the corporate deals with the chinese government. i don't think anybody will succeed in doing that. i think i'm more for a complete boycott now than ever. >> well, we should have a boycott. we had the chinese communist party disappealer its own limb pick athletes like with this tennis player. it's not only just making up a principled stand to want to have olympics elsewhere, i don't think it's safe for our athletes. why would we trust our athletes in this is a country that's disappearing their own athletes for criticizing members of the chinese communist party. so i think absolutely, we should be boycotting the olympics, move them somewhere where there's a free society. dimon might be a great guy on finances and economics, but we need to have all ceos understand, take long are view. american pells and the american -- principles and the american way over the short-term financial gain. that is the way in which you're
going to have a strong and robust america and the american way of life that makes so many wealthy and improves the situation for so many americans. david: by the way, the "wall street journal" had a terrific article that chinese officials accused of sexually assaulting this tennis player was actually a key member of setting up the beijing 2022 olympics. so if that's not enough to put you in the boycott camp, i don't know what is. >> that's right. you know, in the name of the safety of our athletes understanding that we're not going to put up with this, and, you know, she's a woman who's made a very serious allegation, you know? we need to -- they need to be the taking it seriously, of course, the government should. but the big, high crime here is that she criticized a member of the chinese communist party. we need to make sure we are asserting our own values in a very serious and principled way, not just prefeng try way. dimon took a need -- a knee for
blm. but here we have truly a systemically race country. it'd be good to have these ceos take stands for free peach and american values. it's. david: very quickly, taiwan. how do we demonstrate to china that the cost of invading taiwan or in other ways subverting it is ooh high for them to take? >> yeah, i think it's going to take some serious moving deployments and hard power, weapons that could convince the chinese communist party that we have the ability to hold at risk that which they would threaten taiwan and the united states and arm taiwan. we've got to arm taiwan with the very specific things they need which are not always watt taiwanese government wants. we've got to put our money where our mouth is, gotta get resources in there to make sure china knows we're serious. we don't want to fight a war
with china, so we've got to deter ea depression. david: i think you're right on point. have a very happy thanksgiving, rebecca, thanks for joining us. the jury in georgia has reached a verdict for the three men chargeed in the death of ah mad around berry. we will keep you posted on the details when we get them here. we'll be right back, stay with us. ♪ ♪ to change the way we see things. ♪♪ it inspires us to go further. ♪♪ it has our back. and goes out of its way to help. ♪♪ when you start with care, you get a different kind of bank. truist. born to care.
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>> count three -- can. david: they are right now reading the sentence -- excuse me. let's go to the trial. >> we the jury find the defendant, travis mcmichael, guilty. count six, aggravated assault, we the jury find the defendant, travis mcmichael, guilty. count seven, aggravated assault, we the jury find defendant, travis mcmichael, guilty.
count eight, false imprison. , we the jury find the defendant travis mcmichael guilty. count nine, criminal attempt to commit a felony, we the jury find the defendant, taft mcmichael, guilty. dated this 24th day of november, 2021, signed by the foreperson. >> have a seat. >> in superior court versus greg mcmichael, case number cr-0 -- i'm sorry, 200433, jury verdict form, count one, malice murder. we the jury find defendant, greg mcmichael, not guilty. count two, felony murder, we the jury find the defendant, greg mcmichael, guilty. count three, felony murder, we, the jury find the defendant,
greg mcmichael, guilty. count four, felony murder, we the jury find the defendant greg mcmichael guilty. count five, felony murder, we jury find the defendant, greg mcmichael, guilty. count six, aggravated assault, we jury find defendant, greg mcmichael, guilty. count seven, aggravated assault, we the jury find the defendant, greg mcmichael, guilty. count eight, palls imprison. , we the jury find defendant, greg mcmichael guilty. count nine, criminal intent to commit a money, we the jury find the defendant, greg mcmichael, guilty. this 24th day of november, 2021, signed -- [inaudible] >> as to william r. bryan, in the superior court of glenn
county, state georgia, state of georgia versus william r. bryan, cr2000433, count one, malice murder, we the jury find the defendant not guilty. count two, felony murder, we the jury find the defendant william r. bryan not guilty. count three, felony murder, we the jury find the defendant, william r. bryan, guilty. count four, felony murder, we the jury find the defendant, william r. bryan, guilty. count five, felony murder if, we the jury find defendant william r. bryan guilty. count six, aggravated assault, we the jury find defendant, william r. bye yarntion not guilty. count seven, aggravated assault, we the jury find the defendant, william r. bye yarntion guilty. count eight, false imprison.
, we the jury find the defendant, william r. bryan, guilty. count nine, criminal intent to commit a felony, we the jury find the defendant guilty. signed this 24th day of november by the foreperson. have a seat. the court, having read the verdicts and accepted verdicts, anything from the state? >> no, your honor, nothing from the state. >> anything from the defense? >> we -- [inaudible] [inaudible conversations] ask the jury to be polled. >> ladies and gentlemen, i'm going to ask you each individually a set of two questions with respect to the verdicts i have just read. if you could please respond when you hear your juror number -- david: okay, so of just heard the verdict in the ahmaud arbery trial. three defendants, one of whom was guilty on all counts, that
was travis mcmichael, including felony, malice felony. the other two had mixed verdicts, eight out of nine charges guilty to greg mc michael, and william bryan actually had a six out of nine guilty verdicts. we have to talk with us a little bit about case and other cases going on throughout the country, former boston police commissioner ed davis joining us now. ed, i know this has just pond up as we were preparing -- popped up as we were preparing to have you on, so i'm sorry to throw this to you without much preparation, but what are your views about this? the first defendant guilty on all counts in this trial. >> right. good afternoon. i'm not surprised by the verdict. i think that the state put in a very are strong case here. i think the jury looked very
closely at the evidence. and because of the various findings for different defendants, they put a lot of time and effort into making sure that the facts were there to support the charges. i can see that the jury has rejected the concept of self-defense in this particular case. and i'm not surprised. they've also, they've also clearly by finding bryan guilty of a number of charges, six of the nine, they have signed on to this idea of a joint venture or a conspiracy and found people including bryan who actually didn't have a gun quality by way of joint -- guilty by way of joint venture. so i'm not surprised by the verdict. there's an old adage that when you pull a gun on someone, you
better be ready to to use it. and in this particular case pulling a gun was not the right thing to do. it was a violence of our sort of rules on use of force. there was no gun that the individual who was trying to be stopped had, there was no weapon. there was no violence until the gun was pulled out. and that raises the stakes for everybody. and i think the jury has seen this, that there was too much force used in what should have been a simple inquiry that tried to morph into a citizens a arrest and the jury rejected that whole concept. cave david you know, the wonderful thing about our court system is that there is no predictable answer, that each case is different. and those who said that there is a systemic problem with our judicial system, that a certain case like the rittenhouse case, for example, typified way these
decisions are carried out in our judicial decision, system, that's just wrong. each case is different, and juries of our peers are capable of making those distinctions. >> i've testified hundreds of times in state and federal court, and that's been my experience with juries. they take their job very seriously. i was not surprised by the ratenninghouse verdict either -- rittenhouse verdict east because of the fact pattern that presented itself to the jury. they had a videotape, they could see exactly what was happening, and they believed rittenhouse was in fear of his life, and they found accordingly. the same here. they found accordingly to what they believe. caf david and, again, it says a lot about those people that would paint with a broad brush the way our judicial system operates, the way our entire law enforcement system operates, doesn't it? >> there's no doubt. there's fairness in this system. i've seen it for decades, and i'm very happy that the public
is seeing the distinction between the different types of cases that occurred. a they've dade yeah. and, again, those who paint with a broad brush that our system has some kind of serious critical dimension to it that needs to be the changed whole, in a wholesale fashion just seems incorrect to me. ed davis, we've got to have you back on. i'm sorry, we were going to be talking about other things, i be i thank you very much for turning on this breaking news. we appreciate it. we'll be right back with more "coast to coast" right after this. ooooo... we are not getting you a helicopter. only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪ every business is on a journey. and along the ride, you'll find many challenges. ♪ your dell technologies advisor can help you find the right tech solutions.
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♪ david: as the supply chain crisis hits the country, one business is stepping up and providing space for more than 500 american-made companies at his store's location. hillary vaughn is at the made in america store in elma, new york. hillary. >> reporter: hi, david. well, some big box stores around holidays you may notice some of their shelves are empty, but at the made in america store here in new york, they do not have that same problem because everything is made right here in the united states. we talked to the owner, mark, today. he started with just 50 products from different vendors on the shelves. now they have over 10,000
products from american entrepreneur and mom and pop shops. >> the customer now, and china's the factory of the world. we've got to get back to building things, and everybody's got to look at what that product says. if it says made in china, put it back. make it an all-american christmas, coyour part. >> reporter: they also have a manufacturing facility across the street where they make things as big as trailers to things like this, fire pits and mailboxes. and even though they're escaping supply chain crunch, they are having to grapple with rapid hi rising inflation for raw materials like steel. >> you've got to tell a customer i can't tell you the price because we don't know. you can order the trailer and put money down on it on a price we don't know, and we're going to get it in 123 months. 12 is months. i wish the infrastructure bill more, they were concentrating on
building steel mills so we could become self-sufficient again. >> reporter: and, david, just to put it into perspective, an all-american grill like this one used to cost about $150. if they made it today, it would cost $400 to make this exact same product, that's how high prices are rising. but if you do want to cross off a few things, you can go to their web site at the all-american store.com. david. david: hillary, thank you very much. >> actually, it's made in america store, apologies. [laughter] that. david: s&p 500, nasdaq reversing losses as big tech the stocks turn around. let's bring in former investment banker carol roth. good to see you. carol, as i'm looking at the dow and every time it seems to hit this mark getting up close to 36,000, it seems to hit a ceiling and come back down. is that what's happening here? have we kind of reached a ceiling of this bull market?
>> yeah. i think certainly right before the holidays we've got a little bit of exhaustion, david. let me tell you what i don't know, i don't know the exact timing of anything. i wish i did or i'd be on a yacht in the mediterranean if i did. i don't know what the fed's to going to do at it december meeting, a although i don't expect any sort of material differences in our current expectations though market might interpret that differently. and i certainly don't know what's going on with washington, d.c. insanity. but what i do know is that we still have a ton, trillions and trillions of dollars in the market, and even if fed accelerates their tapering, they're still going to put hundreds of billions of dollars more in the market. so it seems to me with all that money without a place to go, it's hard to say that the market has completely petered out. i mean, the punch bowl may be getting a little watered down, but i don't think the guests are ready to leave the party. david: how much more energy is there in the pent-up demand from the pandemic?
>> i think it depends on a what side and, certainly, with the supply chain issues there are a lot of consumers who haven't been able to access the goods and services they want. and then on the good versus services side, we've been waiting to hear everybody's saying, oh, it's been good, we're waiting for that transition to services because people haven't been able to fully take advantage of that and particularly in areas like travel and business travel and the like. so i certainly think that there is some pent-up demand. i think that the the rising prices create a little bit of a counterbalance to that -- iowa david yeah. >> and i think it's going to member it a little bit more cautious, but it's better than it could potentially be at this time. david: we have five seconds, are we going to go into stagflation? >> possibly. depends on washington. [laughter] david david yeah. well -- i don't want to ever depend on washington.
there you have it. carol roth, great to see you. thank you so much. more "cavuto coast to coast" when we come back, stay tuned. ♪ ♪ and you could fearlessly face the unknown. (kids playing) . . you'll be unstoppable. that's why over 5,500 companies rely on prudential's retirement and workplace benefits. who's your rock?
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look at the markets this is totally unrelated to the markets, s&p and both in the green. relatively calm trading day on this day before thanksgiving and with that, a little early, i'm going to hand it over to charles payne. good to see you. charles: thank you, my friend. happy thanks giving indeed. good afternoon, everyone. market is navigating around red flags seen a lot of weakness between the surface but we're also seeing resiliency. that is what is happening in the market. despite all the carnage in the nasdaq they're starting to come back. the question, if your favorite names have been hit should you keep buying at this point or should you cut and run? we have the right guests for you. the ceo of the world's most important banks bend as knee to china after speaking out. what does