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tv   Cavuto Coast to Coast  FOX Business  November 26, 2021 12:00pm-2:00pm EST

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including families, that is what i am most thankful for this thanksgiving good. can't look at that without laughing. that is my grandson and godson, a wonderful addition to this planet earth. people cannot possibly be depressed. edward lawrence was in for neil. >> i appreciate it. neil cavuto is off today. and and what you need to do
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that, americans, the most expensive thanks giving on the record. president biden declaring america is back. retailers ramping up security as the smash and grab, no sign of letting up. live in california with the latest coming up. top story a major selloff underway in the markets. look at the boards, 947 on the dow. as we go to fox news contributor, gary, break this down. i did your reaction to all this. look at the markets. >> i'm a big believer, how things react to the news. i'm a bit worried. always hearing about possibly
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the covid issue from south africa. a lot of things are getting smoked, the financial, semiconductors, broad-based drop expect for anything to do with benefits from covid. internals were in bad shape on the market and we've been talking about it. the inflation issue, that is getting involved also. defense is making a good offense going into next week. it is supposed to be one of those quiet days after thanksgiving. not so quiet. >> is a panic buying or selling going on? >> it is a combination, less liquidity and extenuating moves.
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we have some trends to the downside working to the upside and that is the worrisome parts. the outlier. when delta first started, just the name of an airline company. if this thing worsens, not much good will come especially economies around the globe adding back on track. there is a real close love and hate when it comes to markets and spending and feeling good and exuberant. as we go to the end of the year, this will be big stuff to watch so keep fingers crossed. >> is there a buying opportunity? >> this second i would take a
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step back. remember we had a good run, valuations are up and we need to correct 5% to 10% which is supposed to be normal during good bull markets. there will be a little more to go and start looking at the companies that are doubling and tripling their business over a few year period and there are plenty of those. >> the federal reserve. will be a case to keep that accommodation and slow the tapering? >> jay powell is the most easy policymaker on this earth and this could be the great excuse for him to say we may have another covid issue but i believe this coming month it will be one slow down but after that the markets continue down and. dead in his tracks. >> great to talk with you. good news out of south africa
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and botswana that rising covid cases, a spike in cases got the who clued into what is going on and looking at it. should we be worried about our health? let's bring in doctor janette nesheiwat who could tell us about this. do we know enough that we should be very concerned? >> we are gathering more data. we should not worry. instead we need to be aware what is going on and protect ourselves and take precautions which includes making sure you are vaccinated and if you are at high risk you get that booster. if you are an adult wearing a mask in public and indoor areas and get tested if you think you have been exposed but we are gathering more information. this new variant is called the new variant, first identified in botswana, south africa. they suddenly had an outbreak of cases and scientists were quick to discover this new
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variant and a the rest of the world which i commend the scientists in south africa for doing but we need to determine will this new variant render our current vaccines and treatments ineffective and is it more lethal? that is what we need to discover. >> we don't know if it is more infectious or vaccine resistant. >> what we do know is it has 50 mutations. some are negligible but others could really make a difference that could make one more sick than other variants like the delta very or the uk variant. pfizer is conducting tests to determine do our current vaccines still work and if they don't, pfizer and moderna can tweak the current m rna vaccines to include protection against this new south african variant. it takes six weeks to modify and adjust the current vaccines and then they can be available within 100 days but we are
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currently undergoing more data to see where we are, how much more dangerous the new variant is or will it be similar to what we are dealing with now. >> is this shown up in the united states and which should we be worried? we got together with our families, many traveled for the first time to go to a thanksgiving gathering, there's a spike in cases because of this? >> we know this new variant is in south africa, it is in israel, hong kong. we don't have any known cases in the united states. during the holidays we should not panic. we should enjoy our time with our family and friends, enjoy the holidays, protect your self, get tested, where your mask accordingly and deal with it the best we can.
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we have treatments that are -- we have the antivirals coming out so we need to take precautions into the aware. >> in our last 20 seconds. is this going to be all these variations, mandates need to be in place for kids to go back to school. will that push this debate? >> i hope we don't go toward mandates. the appropriate step is to educate and encourage and talk about the benefits of vaccines. you need to focus on adults who are unvaccinated. they are the ones that become more will. you see more adults being hospitalized, more adults, they are important, make up 20% of the cases right now but hopefully if we can do the testing, masking, vaccinate those who are eligible we should be okay. >> i am sure we will have you
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back to talk about this. to the other big issue, inflation. inflation at a 31 year high, diehard shoppers, are they coming out for black friday and are those deals really there. let's go to hillary vaughan in rockaway new jersey digging deeper into it. what did you find? >> a lot of shoppers were cooked up, had to shop online to cross items off the christmas list. what we are hearing from shoppers the day after thanksgiving is they are grateful they can show up in the store and shop around. the national retail federation says 2 million more people will shop on black friday than they did last year. 180 million shoppers total between thanksgiving and
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cybermonday, 60%. in-store as opposed to online up from 50% last year but that doesn't mean there aren't some challenges facing shoppers this season. topping prices and shipping snafus are waiting on shopper's minds and many started shopping early and in person to price compare and guarantee it will be under the tree. >> the deals are not as good as they used to be. >> it is harder to find some things. >> not as much anymore. black friday deals with amazon you are seeing delays. >> for the first time i did some things ahead of time like two weeks ago and i am habitually a don't buy anything after thanksgiving. my husband works the supply chain management. he knows it's a huge issue. >> edward, we talked to shoppers who say they are not seeing the empty shelves here but a lot of them did find the
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items they came here to get but may have been the last one. people have been shopping as early as how to wean so the holiday shopping season is a lot longer this year than it has been in the past? >> you got the story. i appreciate it. kicking off the holiday shopping season will we see a good season or is the buying already happening? joining me a strategic resource group managing director bird's less danger. i want to ask about the impact of the news you are hearing about the variance of covid. what impact will that have you believe on shoppers from now moving forward? >> it will have a pronounced impact because shoppers are cognizant, you are breaking so well today.
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when there was violence, last saturday retail teams in texas and chicago, north central states are distinct drop off in customer accounts because people were scared of the violence, price waterhouse coopers said 20% of millennials are going to stores because they were afraid of pandemics. the combination of south african variant with unrest in the stores, 20 hours of power pressure pushing retail down, the s&p srt retail index after hitting an all-time high last week is up 2.5% today. >> many people heeded the warning and bought early as we heard from the administration, target said they are not opening stores on thanksgiving to get that early rush for black friday. is this an indication the shopping season for retail will
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be less in the fourth quarter and it was moved forward or pulled forward? >> yes, you are right. there was a report this week that 50% of the increase in retail spending last month which was just shy of 6% half of that was inflation related so we've come around to cross the finish line for black friday, a month early so the results between now and new year's day will be muted and disappointed and i don't think we will achieve the projections that were made free holiday season. >> because of that will there be discounts on the merchandise that makes it to the shelves? >> not enough on the shelves to discount it but raising an important part for smart shoppers to say for the post christmas hanukkah class
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merchandise. merchandise will be deeply discounted, and for off-price players. >> as news of this, they went back online. it could keep getting this news. is going to push people back online. >> from far rockaway. and the online shopping will be higher from shopping on stores on black friday, they are higher than small business saturday tomorrow.
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for 5 days in a row from thanksgiving to cybermonday the online sales will exceed what is being purchased in the store. for example today black friday should be $11 billion, $12 billion retail, online should be 13 to $14 billion and those numbers should hold up, again 13 to 14 billion, to repeat for cybermonday. >> appreciate it, thank you for your time. that's why those stocks are doing well. what you are saying, appreciate your time. it is the most expensive thanksgiving on record with inflation running rampant across the country. president biden declares america is back. is it really? we will discuss after the break.
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>> the american folks, what is your message? >> president biden: after two years we are back, there's nothing we are unable to overcome.
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>> the president declares that america is back. we just experienced the most expensive thanksgiving dinner in history. let's go to republican congressman from florida carlos jimenez who was on the energy subcommittee. i want your take on this. we spent more on thanksgiving than we ever have. the hearty debate at the kitchen table about the amount of money this cost. is america back and when did it leave. >> america is back to 1979. we lost the respect of the world and inflation going through the roof, gas prices will reach record levels. our supply chain is a shambles. back to 1979.
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and and listen to donald trump on foxbusiness this morning. >> no threats from china, vladimir putin wasn't lining up to take over ukraine. they are respected us. they had great respect or fear. now they look at afghanistan and the withdrawal. i was going to withdraw with dignity and strengthened pride. you look at, that withdrawal, the whole world looks at us differently today than they did a year ago. a year ago they had great respect for this country now they look at us like we are a bunch of wimps. >> do you think the globe looks at us as weaker than we were under donald trump? >> absolutely.
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we lost respect of the world and i didn't see his comments. we are in sync. we lost the respect of the world. i hearken back to 1979. jimmy carter, inflation, interest rates, gas prices, hostages in iran. now americans trapped in afghanistan. similar to 1979. president carter is a happy person. he won't be known as the worst president the united states ever had. >> gas prices in florida, the president announced he is releasing strategic oil reserves that amounts to a 2.74 days of use in the us. is the perception of release going to bring down gas prices? we see oil down today or does something else need to be done?
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>> he needs to start waging war on our oil production. he needs to open up the xl pipeline. he needs to open up the leasing of federal lands for exploration of oil and gas. we produce oil and gas 20% cleaner, but at the same time he is destroying the energy sector in the united states he is asking our enemies to produce more and when they produce it will be dirtier than the ones we produce here. we produce clean energy. i think oil prices today are coming down not because of what the president did but because of this scare from this new variance we see coming from south africa. that's why oil prices may come down not because of a today release because of the strategic oil reserve. >> another shutdown across the globe. from the white house we are hearing the patient. it takes time. we spend a little bit more. how long do voters need to be
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patient? >> these policies are not going to work. you have inflation at 30-year levels. pumping trillions of additional dollars into the economy goes against everything we've learned about economics. it's not going to work. inflation will rise if the scare from this variant subsides all prices will continue to rise. our supply chain is in shambles and these policies that he has, the southern border is out of control and donald trump was right. we have lost the respect of the world. they don't respect us and that is why china is threatening taiwan, russia threatening the ukraine and other parts of eastern europe. the world doesn't respect us,
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they don't fear us because the president has known a shop never shown a spine to stand up to anybody. stuart: representative carlos jimenez florida, this debate will be ongoing and affect the 2022 elections. california politicians bracing for the impact, the backlash of the smash and grab robberies that have happened. police in florida ramping up to prepare for it. images of the looting we are seeing unbelievable. we will discuss this when we get back. care. it has the power 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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>> retailers ramping up security after brazen smash and grab robberies that plagued the city in many high end stores. jonathan hunt in los angeles digs deeper into this. >> several high end shopping malls not depending on extra
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police patrols in the wake of these robberies but adding extra security. wire barriers newly placed around this mall in santa monica. a jarring site for anyone heading out this black friday but storeowners consider it less shocking for those shoppers and being faced with the mob ripping what they can from shelves and display cases. the surge in organized group robberies began in the san francisco area with luxury stores like louis vuitton and nordstrom being targeted and a crime wave spread to southern california with nordstrom a target as well as an apple store and cvs pharmacies. they tried to bounce back post pandemic the last thing they need is violent robberies frightening off customers. >> macy's and puppies in the
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window, i don't want to go. it frightens me. >> reporter: many of the robberies being planned by messaging apps and as they prepare for a shopping surge officials are trying to head off the robbery surge by making an example of those they arrested. >> looting, grand theft, burglary, stolen property, firearm possession and more. >> some arrests have been made and charges brought, the simple fact is hundreds of been involved in these robberies and only a few have been caught. >> we will see any penalty for those folks if they stay in prison. reaction from former las vegas police lieutenant randy sutton. tom waggoner, former sergeant
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from los angeles says hello but good to see you again. how do you fix this? >> the only way to fix it is for the political leadership of these cities to take it seriously. what they have created a perfect storm of criminality through the legislature of california diminishing the consequences for theft. they have taken felony crime and made it to a misdemeanor, misdemeanors are rarely if ever prosecuted especially in cities like the bay area, san francisco, los angeles. it's not an accident, these crimes are taking place in san francisco area and los angeles. both of them have something in common. they had activist district attorneys.
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gascon in los angeles, who do nothing, absolutely nothing to curb crime. they embrace criminality and they allow victims to flounder for themselves. it is disgraceful and the blame is right there. >> we didn't get here overnight. last year during the presidential debate you had president biden for a 3-month span not mentioning at all the rioting that was happening. same with nancy pelosi and california representative maxine waters saying get in people's faces a result of that was people almost accosted at restaurants as they are trying to eat. attorney general's go through election cycles. it took a long time to get here. is a going to take a long time
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to back out? do people feel there will be consequences when they lose like this? >> we've got years of trying to turn this massive ship around and it will require public getting involved in this. recall propositions taking place. it does require the public to say we have had enough. the political leadership from the president on down has pushed the law enforcement narrative to the point people have lost confidence in the criminal justice system and the revolving door justice system put in place in new york city. look what happened the other day with a 13-year-old shot in the neck by a suspect not only on parole but didn't revoke his parole and put him out on low
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bail after another violent crime. let's shift over to northwest where the state of washington has passed laws that are so radically ignorant of the consequences of criminality it is shocking this is by the political leadership of the state of washington not allowing police to be police and you have a radically ignorant congresswoman who comes out with this notion of let's close all the federal prisons. a few years ago i asked would she have been laughed out of congress had she made such a stupid statement but now it is embraced by certain elements. >>
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>> some looters and rioters, the company can afford it or insurance will pay for it. it doesn't just fall on that. who pays for this? >> the american people, for people who purchase items pay the higher prices because of it but look at the violent crime. we have lost compassion in dealing with victims of these crimes. they are not considered any longer and they are the people who are truly lost in this abyss. >> randy sutton, thank you for your time, looks like a beautiful day in las vegas again. coming up, president biden now considering reviving the made in mexico policy, details from the border when we get back.
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>> the border is a bigger problem than inflation because i could solve inflation quickly but the border is a bigger problem. millions of people emptying out jails from 121 countries. these are serious prisoners, serious criminals. >> donald trump on our network slamming the biden administration for reportedly turning back the immigration crisis. the biden administration turning back to the stay in mexico policy wanting to restart that as soon as next week. casey steagall is digging deeper into this. >> you know about this ever
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fluctuating situation at the border but let's walk back. not long after president biden assumed the office in january we heard about a number of those policies of donald trump that he reversed or suspended this is one of them. fast-forward and his administration officially ended it until a court was asked to step in and the judge will the program had to be reinstated. this as the record surge of migrants continues crossing the southern border illegally into the united states the data showing no signs of it leading up. all the while space to house and process those seeking asylum has been hard to come by. first -- bursting at the scenes and the system overwhelmed at times. the official announcement is affected from the white house as early as next week.
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that is when we expect to hear about reinstatement, to reinstate donald trump's controversial policy which requires migrants to wait outside the united states while their claims are pursued. the difference with president biden's spin is the migrant would be offered covid vaccine before being released from us custody and sent over the border. how would that happen is unclear. we have some reports the feds would do a slow roll out of this. they are floated around brownsville and el paso, texas to san diego. we have big announcements coming in terms of border and immigration. >> you talk about the judge reinstating that are putting in a ban on the ban. i heard the administration slow
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walked that. is that what you are hearing about on the ground? >> a couple times to keep this policy from going into effect, allowing migrants to remain in the united states. that means in federal custody. on our dime. the system is so overwhelmed and as you have seen, it is a tip of the hat, might be worse than the white house let on. they are not allowing them to remain here, sending them back but vocal against donald trump for that policy. cheryl: my next guest writing a piece in the washington
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examiner title biden's own worst illegal immigration since records began. he joins me now. is this a case where the president was so intent on reversing donald trump's policies that they didn't think about the impact when it happened? >> it is that. a number of things go into that. president biden wanted to do the opposite of donald trump and that meant not doing things that were working. - president biden wants to get away with something rather than to govern. >> we are having difficulty with your connection.
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we will try to get you back but you did write an interesting piece. on november 20 third you write a country does not enforce its borders, the idea of a country for so many it has left, what is the point? why have a country is what you were saying, we will see if hugo was back and wonder what he meant by the fact that you couldn't have your back. what were you talking about. >> if you ask any normal person what is the definition of a country, they would say an area of land surrounded by a national border in which there is a single united sort of people, obviously differences within it. a country exists because of its natural border. the land doesn't want america to work. it wants to break people of not into a whole group of different people, they are not just americans with this kind of
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american, that kind of american and does all the border. a country that doesn't enforce its border, doesn't give up on being a country, that is what the left wants. they want america to fail. >> how big an election issue do you believe in immigration is? we have inflation, the afghanistan withdrawal so where does this ring in 2022-2024. >> it ranks really high. inflation, people watch prices rising by 6.2% since biden came to office. afghanistan was a massive national humiliation but the flow of illegal immigrants across the southern border is the highest since records began to be kept, 97 years ago. this is a terrible record for president biden to take into an election. that's why he is thinking even though he's not opposed to
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illegal immigration they know it is deeply unpopular which is why they are considering restoring the remain in mexico - trying to avoid that. they now realize it is - >> i think the internet is failing us. we see the problem as more people staying indoors because of the new covid very and using zoom. interesting piece if you want to read that. thank you for your time. after the break the 10 year yield is sinking to the lowest as the market gets to wrap up the end of the trading day a little early as we enter the last of it and break down the market meltdown when we come back. ♪♪ one thing i can tell you as
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>> we are eight minutes from an early market close seeing a major selloff.
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932 points over covid fears coming out of africa. the dow was down 1000. you see big losers on the dow, nike down $2.09, home depot, selloff across the board. let's bring in stephen sergeant guilfoyle, it is a low-volume trading day, is this a legitimate selloff? >> it is based more on the yield, and lockdown the globally suppressing economic growth more than less traders. a lot of traders got themselves to work today even if scheduled to work from home. don't think too many participants were in.
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>> is that a 1-day blip and we will see a bounce on monday as we get more news about the new covid variant? >> pfizer's partner says it will put together data to see if it works well against this very and so i expect the volatile couple of weeks. i went light on the buying of the dip but, with we are facing severe pressure, a couple weeks in september, it gets a little tough. this could put the kibosh on the first couple weeks of december. this will focus on preserving
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capital or long-term names, very strong on semiconductors. if i see good prices i will probably pile in. >> you want to hold what you have at this moment instead of wait and see? >> i already participated to a degree. i did okay today but i didn't come in a state of desperation. unless this variant is a very and of greater concern than anyone still coming for a winter of discontent. there's a lot of cross-border commerce. european economies are shutdown. even regional us economies could see something like that if it were to get out of control. you will not make too many rash decisions but you need certain
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retailers, walmart and amazon, things will be there regardless. >> any values you are looking to buy possibly in this day? >> i like disney. disney is cheap. so much capital, 148,000 a share. >> after the break we have the market close coming up and we will see what happens, stay with us. gold. your strategic advantage.
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's to the markets are about to close, the worst day in about 13 months. welcome back to the second hour of "coast to coast". i'm edward lawrence in for neil cavuto and his stocks are taking this hour with the last couple of seconds of trading after the discovery of a new covid variant came out of south africa. markets closing at numbers we have not seen in a long time. although, off the lows of the session, we are looking about 900 points of a loss on the dow jones, s&p, nasdaq a bit better with the nasdaq a bit better just because some stocks the pandemic shutdown stocks are in that and getting a bounce through this because traders are looking for where to put their money looking out possibly looking at other shutdowns across the globe and this is what they may be thinking so joining us now our strategic
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wealth partners chief market strategist janice sissel and americans accountant. janice, sorry about their, but first let's get to dan. i will get your reaction to the last trades settling in with 904 points on the dow jones down just a crazy day for the day after the thanksgiving holiday. i want your reaction to this, dan. >> my reaction is, the market is clearly sending a signal that they don't like the potential of this new variant of covid and what it could do. i will tell you why it's so dangerous, based upon where we are now economically. if we end up with a variant that really causes more shutdowns and more problems around the globe related to the supply chain, we are perfectly positioned for stagflation meaning high inflation and high unemployment and a weak economic outlook.
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that, ever-- edward, is the worst case scenario and the market is concerned about it. >> glad we went to you first. we saw that in the 70s. shannon, want to follow you up, should i be concerned today when i look at my investment portfolio? >> well, i always look at these as buying opportunities. the market goes up more than it goes down and for me as a long-term investor i will look at the names i think are interesting and i will want to buy them at a discount so this to me is trading at a buying opportunity. the virus has been a virus, they mutate and it's not something new and it is something we can expect. the problem is the global reaction to mutation is panicky and you have nations going into lockdown. just based on a couple of cases that we still don't know enough about, so that is a bigger
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concern and how long are we going to continue to do this? when do we come to terms with the fact that the virus will mutate and we have to live our lives accordingly just like we do with other respiratory viruses? maria: i appreciate that and my name-- your name was written down wrong for me. in the perspective with dan a little bit, does this signal that maybe the stock market is not the place to put our money from here forward? >> well, not necessarily. listen, what i was laying out before, edward, was worst case scenario and it really goes to so much uncertainty. if interest rates are going to stay low, which the fed seems committed to at least right now, that means that certainly the stock market and specifically in equities is where people need to be because in order to keep up with inflation, where are you going to be able to to get those returns? you really have to be in
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the stock market, so i don't see this as a signal, obviously, to run away from the market. >> i want you both to listen to what former president donald trump told this network not too long ago-- the president was basically saying he could do better with saudia arabia and he was an oil producer and we were surpassing saudi arabia as an oil exporter or on our way to going forward. is oil related to that, is that a big issue driving inflation here and going to put a drag on the economy? let's go to shannon first. >> president trump is his biggest fan when it comes to these things, but he has a point. under his leadership we were a net exporter of oil as opposed to importer and that really did impact and make the price of oil more affordable, but it's not the sole reason we have inflation problems. we went through a time in the early to thousands where oil was much higher than today, so you are looking at
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you know right now the fact that supply and demand and most of the inflation is coming from issues within the supply chain. issues related to covid based restrictions and i don't see that getting any better if every time there's a new variant we go into panic mode and fear mode. >> shannon, dan, appreciate the conversation and this will continue next week when the markets reopen. meanwhile, i went to talk about this, retailers looking into the fact that the discounts, they may be discounting the discounts for black friday amid the supply chain crunch. let's go to grady who has the latest from commerce, california, as it's only fitting when you are in the city of commerce when talking about retail. >> you are the first person that made the joke today and i love it. 108 million shoppers are expected this black friday, 70 million plan to shop in person and i
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believe it, i mean, look at this online at nike behind me. it extends all the way down there and if you remember, they sent an e-mail to one of their shoe stores canceling their shipments through summer, 2022. direct purchase may be the only way that consumers can get their kicks this holiday. even though people have been here all night they don't see the discounts they expected. retailers are expected to do dangle price cuts of five to 25%, only slightly deeper than last month. i see flashy signs of buy one and then get you 50% off, but really it's just 25% off the entire order. >> i just don't want to be broke while trying to find good deals before monday. >> i'm happy to be out and spending money i probably shouldn't spend >> not as many deals. >> and went to polo right here like they didn't have my sizes.
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>> there's been a lot of focus on higher sales this holiday season with a eight to half to 10 and a half increase in sales versus 2020, but i want to highlight most of the increases due to inflation. consumers have to spend more because things cost more. walmart and target that chartered their tickets to get the product out of the harbor are able to show big discounts and price match. they will take a hit on margin, but with 60% of sumer's-- consumer citing getting a big deal when choosing a retailer, they might be able to beat out the competition. >> they were smart to get those ships and now their stores are stocked and that's where people are going. kelly, appreciate it. you know, we see record inflation now across this country and president biden is declaring america is back. listen. >> what's your message to with the american folks on this thanksgiving day? >> my messages after two years we are back, america is back.
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there's nothing we are not able to offer,. >> let's get reaction from buddy carter, georgia congressman. you know, is america back? did we ever leave? >> america's back this is like watching back to the future, we are back to the biden obama days where the economy was in rough shape where we had high unemployment, high prices. we are back to the late 70s where jimmy carter was president and we had gas at four, five, $6 a gallon. i'm from georgia, the right carter, but now the second happiest carter in georgia because jimmy carter is the happiest now that joe biden has now made him no longer the worst president we've had. >> i heard someone say that oil will eventually go to $100 a barrel in the last time and averaged $100 a barrel was 2010 through 2015 when former president barack obama was in office and his vice
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president was joe biden. i want you to listen to something from vet-- president donald trump speaking on this network about oil in his administration. >> we were bigger than saudi arabia or russia we were energy independent and within a year i would have been bigger than saudi arabia and russia combined and now, we are going back to them and opec and we are begging for oil. >> representative carter, do you believe oil and gas prices are driving inflation or is this an commendation to the other factors pushing inflation? >> no question about it. it's the primary driving force that we see right now in inflation. gas is up 61%, petroleum up 61%. president trump is right. it's more than just nonsense, it's dangerous, not what the strategic petroleum reserve was meant for. it was meant for an
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emergency, not for joe biden to try to correct his economic policy that's so bad that it's driving up the price of oil. his policies, his roar on fossil fuel, this is his policy, a biting created crisis and that's not what the strategic and petroleum reserves was intended for. >> so, we see this thanksgiving the most expensive on record as turkeys are up 27%, potatoes up 13%. how would you fix inflation? >> well, the first thing i'm of the one thing you can do is start tapping again and drilling again in the federal land and start with the keystone xl pipeline. let's get back that into production and that would help us immediately and just the idea that we are going to be able to get more fuel at a lower cost and not only would it help economically, but with the help on the world stage.
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right now, we are back to the biden obama days where we are leading from behind and when we had energy independence we actually had energy dominance at that point. we were a player on the world stage. that was a tool in our tool chest on the world stage and we need that back. >> you are on the house and budget committee here. the president, president biden wants to spend on top of more than just the 1.9 trillion that was just past with the bipartisan infrastructure bill and he wants to keep spending. he believes it will bring down the cost of living. what are your thoughts on that? >> it's the most ridiculous thing i've ever heard, i mean, this is nothing more than a socialist wish list what you seen as a build back better. it's actually billed back broke because it's going to be the single highest tax increase we have ever seen in this country. not only that, but it will add fuel to the fire with inflation. it's going to cause prices to go up even more.
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it's going to create more debt, more debt for our children, grandchildren, all of us who celebrated thanksgiving and have been with our families. look at your grandchild and their children, they are the ones that will be paying for these horrible economic policies that biden is implementing right now. >> do you feel like-- they say be patient with inflation, be patient and it will come back down. do you feel like the american people need to number one be patient and how long, how patient do we need to be >> i don't know about you, but i'm out of patience with joe biden he's not done one thing correct since he's been in office. look at what he's done. afghanistan, the southern border, petroleum prices, inflation, look at all of the things he's done. he's done nothing right now. patients? are you kidding me? we have as much patience as we possibly can take. we have to get him out
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of office as soon as possible and turn the tide. we have got to defeat what is essentially still a $4.5 trillion socialist wish list they are trying to pass in congress. we have got to defeat that. >> the last 10 seconds, will this be a 2022 election issue? >> no question about it. this is what people are talking about. when you think about thanksgiving yesterday and you asked people what were you talking about, yeah they were talking about family and catching up and also talking about the high prices of turkey, the high price of petroleum, the high price of gas to get to grandma's. that's what they were talking about. >> representative buddy carter from georgia, thank you for your time. coming up, experts say this new variation of the delta or of the coronavirus could be a jump in evolution for it we will investigate that when we come back. ♪♪
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>> who calling an emergency meeting because of this heavily mutated new version of
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the coronavirus that we see with covid-19. it's the greek symbol for o let's bring in jonathan siri who has the latest. >> the world health organization labeling this a variant of concern as researchers try to learn more about its properties and what dangers it poses it. the european union is advising its member countries to halt travel to and from nations where the omicron variant has been detective. today britain began a temporary ban on flights from half a dozen african countries and they are requiring british travelers returning to quarantining hotels. the british health minister says early indications suggest the new variant may be more transmissible than the delta variant and it may be more resistant to vaccines. us health officials are discussing the possibility of travel bands, but they say until they find out more
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information on it working closely with their african counterparts, imposing such bands would be premature. >> things on the table, but you don't want to say you do it until you have scientific reasons to do it and that's the reason we are rushing to get the scientific data to try to make an informed decision about something like that. >> cold weather drives more people indoors in the highly infectious delta variant causes a surge in cases in the midwest with the federal government sending to military medical teams to michigan to support hospitals. 44 nurses and respiratory theft-- therapist will arrive next week to treat patients for 30 days in hospital officials say they welcome the help, but they will need a lot more to make a significant impact. back to you. >> jonathan, they will need more resources. thank you. let's bring in power to the future, executive director daniel turner
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related to this. you know, oil prices have been falling to the lowest level since september, 19, because of the new covid variant concern you know, is this drive-- is it driving the inflation do you believe or are oil prices adding onto the inflation we have already seen? >> first off, i think any drop in prices is good for consumers because they are making up the difference. the high energy prices is one of the main drivers of the inflation because everything in the world, everything in the marketplace, everything from agriculture, manufacturing requires energy and its energy prices as they go higher, electric bills, furnace bills ect. for things like even solar panels, those higher prices are passed on to consumers, so a reduction in energy costs is good. i hate to see it driven by this. i would rather see the lower prices because of
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an increase in supply like we had in the previous administration, a better way to lower prices rather than celebrate the fact that this covid variant is driving down demand is to increase supply. it's better for the consumer. it's better for the economy and better for national security. >> we see the oil price, it's the worst day since april, 2020, down 12.26%, greater than 12% here. do you feel like-- you mentioned a little bit, but do you feel like the president announcement played into this or is this because people are looking at more shutdowns and globally this variant of the coronavirus is really as big as some of the hype we are starting to see, then there could be global shutdowns and the demand will decrease. is that the real driver has for the price to go down this far? >> yes. i think you are correct because oil prices like the stock market are future indicators. the markets are telling us where they think six
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months into the future we will be and i think the fear that's driven around this new pandemic , this new variant of the pandemic has businesses around the world concerned that it will lead to more shutdowns. a lot of the drop we saw last year was because of less demand kids weren't on school buses and people were not traveling or commuting to work or getting on planes and so those huge drops in consumer activity was what drove down the lower demand and increase in supply to the point oil and gas was almost unprofitable. we see the reverse of that and we have experienced it and it looks like we are headed back in that direction and that's terrible for the economy. this volatility is terrible for the marketplace, terrible for the american family, so again if i were the president the best thing i could do to bring stability to energy markets is to have as much reduction in our own country as possible
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whether it's a delta variant of this new south african variant or so many other factors depending upon the world , depending upon opec for our energy is a bad strategy and i wish president biden would understand that. >> we see the oil prices falling and as you know gas prices of sort of going the same direction, but it takes longer and now that we see the price fall to 69, $68 a barrel, should we expect gas prices to follow? >> they will in time without a doubt following that's good for consumers and good for families, but we are also going into winter and at least where i am right now in rural virginia it's unseasonably cold, so as we are driven in either because of the cold war because of fear of the new variant, we are going to be heating our homes more, so gas prices will be affected by seasonal activity. that's what normally happens this time of year. again, so many factors go into the energy
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markets, consumer activity, seasons, the best way to bring volatility is to have a stable, reliable, domestic supply. we have had that in the past. past presidents, even president obama saw the importance of energy independence. this administration, for some reason, does not and the american people will be the victims of the shortsighted principal. >> we will have to leave it there. thank you for this time. this debate is not going to go away. thank you. coming up now, will president donald trump running 2024 cracks and does he think he will get the gop nomination? we will answer that after the break. ♪♪
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him-- >> i have a 94, 95% even see back 98% approval rating, so i think if i decide to run i will get it very easily and most people have said if i run they won't run against me, so i think that's good. >> former president donald trump saying he could get the nomination in 2024 to be the republican nominee for president. he thought he was going to win this past election and didn't get it so let's go to phil, white house correspondent. phil, you are the numbers guy, the whole guy. is the confidence unwarranted? >> the question right now isn't just will he run, the question is why wouldn't t and i think what we heard from president trump this morning is that he's looking around in the gop right now and he cited the c pack pole, which isn't the most scientific, but it gives an indicator of where the republican base is and he's of the opinion
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if he ran he would easily clinch the nomination and there is something to that. in primaries, you need to win over the base and that seems like something the former president could do pretty easily. >> at this point you feel like folks would get out of the way. we have ron desantis, we have heard nikki haley, what some of these people get out of the way or do you think there is maneuvering behind-the-scenes for 2024 to say maybe be my vice president? >> absolutely and i think that the interview that-- this morning was also indicative of that maneuver. there are some who have said if president trump once again they aren't going to challenge him and i'm thinking of former ambassador to the un nikki haley and others, but the interesting thing here is that republicans actually have a deep bench of talented people who could potentially run and maybe run with the populace ticket, but without the baggage donald trump had. people like tom cotten or josh holly or even
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ron desantis, but i think what president trump was doing was a saying, look, this is mine if i want to take and he might have been rushing back some folks like former new jersey governor chris christie who said that he is thinking about a run, but trump won't be his determining factor in whether or not he gets in the race. >> on the other side, let's look at images coming out of the white house and i want to show you a photo that the white house press pool put out about the president. americans are concerned about paying for things and here is a photo of president biden in nantucket at a billionaires home. the white house pool releasing this of him laughing it up with "the today show", i mean, look at the room. if i could afford the tv console and i'm looking at getting a new one and i can afford that. this is where the president is as american struggle with costs and that's reflecting now in his poles, isn't it? >> setting aside the question of conflicts of
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interest about who the owner of the home is and why the president is there this weekend, i think what we see from the former president is that he's looking at all of this. he's looking at inflation he's looking at what happened in afghanistan, what happens at the border and he saying i could capitalize on these because in the last race, you had trump who was defending his own record against joe biden who came in and said i can be the elder statesman and bring things back to normal. it would be a very different kind of race if trump were to challenge him now because the former president would be the one going on offense. the thing about that is though democrats have shown that they know how to run an anti- trump playbook. they run in the house, the senate and eventually the white house and they would just have to dust off that playbook and run again. >> in the last 30 seconds a lot of folks are seeing the democrats try and tie and a new candidate to president donald trump, but that
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did not work in virginia going forward there was an election there and they were able to elect the republican who challenge-- beat the democrat and even joe biden, president biden went to campaign for him. do you see that maybe people will look and say that other guy wasn't so bad? >> maybe. the virginia governor's race i think trump actually stayed at arms length and that helped glenn youngkin and what was previously a blue state. we are going to see how trump plays in the midterms, but again if he does sort of decide that he's going to run and he does more than just will he won't he routine then democrats don't just have to defend what they have done over the last two years. instead they can make an argument which is hey, stay with us because in the off chance he does become president again we can sort of slow things from returning to the trump show. we will press pause on a repeat of the trump show. that would be their argument and it has been successful in the past.
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>> i appreciate it. real clear politics, things for the insight. now as we turn the page to look at the christmas holiday season coming up, the supply chain issues seem to be the grinch trying to steal christmas. national christmas tree association says it expects steady price increases over the next few years to get worse and joining us national christmas tree company ceo smaller. i see a bunch of christmas trees behind you. i don't know how you got them off the boats to be behind you. is this going to play a role in what people buy and how they look at christmas now? >> you know, this year has been a tough year and as you have reported many times on the show, getting product from china has been extremely challenging. you've had consumer demand which has been high for a -- for goods from china and that's been driven by pricing. it's been driven by
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covid being a busting christmas being a best and driven by the housing market and then you have this incredible tight supply chain which has driven up prices so we have been paying-- last year we paid $2000 a container and this year it's $20000 a container to bring products across and of course when they get across you have seen the ships stuck in the long beach port so we've been working through that and working with our suppliers, working with retailers, working with ups and fedex so we feel like we are in decent shape. not where we want to be, but in decent shape. >> but, you have the stock for people to buy? when i buy a christmas tree next week it should be there? >> don't wait too long, edward. this weekend is really the peak weekend when people buy them. we do have some great deals going right now and you will see it across the websites out there, amazon, wayfair, bed bath and beyond, home depot ect., tons of great deals right now, so i would say if you
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buy them after this weekend you will start to see a bit of a shortage. >> how are you weighing then that supply crunch? you have real christmas trees, and then the fake christmas tree market, you know how do you then balance the increase in cost that you must have because of the transportation and supply chain with discounts you need to overcome people just going to cut down their own christmas tree? >> yeah that's a great question. we had to raise prices this year, the entire industry raised prices. people still like a deal. this weekend was kind of deal central so we held back a little money to get some great deals on trees right now across the internet there's amazing deals this weekend. also, we know that the real christmas tree industry is facing tough challenges. it's been tough for the entire christmas tree industry with the fires and droughts out west, so we expect to see those prices go up as well. of course, you take an
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ax and go to the backyard and cut down your own tree that's a fairly low cost option, but prices are definitely rising everywhere. >> but, then you have to get the lights and the bulbs in all of that which is also stuck on those containers where you have some of that stuff on the trees already. >> true. >> it's an interesting market. you make most of your revenue at this point of the year. are there some nerves here of will they actually come out? >> yes, i mean, the sleep deprivation gets into high gear during the holiday season for sure. we track it every day. we track it with retailers and try to do some indicator research. we have seen some good leading indicators coming into the season. halloween was a big season for us, a big blowout, which was great. we have strong demand across the board, but certainly being such a concentrated business obviously you have sleepless nights for sure. >> chris butler, thank you. >> thank you. >> merry christmas to
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you coming up. >> you to. >> coming up we will hear from one of the biggest names in the push for electric vehicles, the ceo of pfister is here after this. you don't want to miss it. ♪♪ [engine humming]
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looking at your full financial picture. this is what it's like to have a comprehensive wealth plan with tax-smart investing strategies designed to help you keep more of what you earn. and set aside more for things like healthcare, or whatever comes down the road. this is "the planning effect" from fidelity. >> the electric car craze continues as fisker reveals its 36500 suv with a rotating screen in it and many folks look at gas prices and say we need to look at electric, so the ceo, henrik fisker, is it joining me. talk about this, very interesting with your price point related to this. do you think there will be a lot of demand? seems like it's coming in under what we see
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other electric cars. >> you know, i thought it was time for a really cool looking suv which obviously is the most selling vehicle globally for a good price and we worked hard to get the price down. we already have well over 20000 reservations, so we do you see great demand and most of the demand is from the us. >> you wanted the suv out first, is that the reason because the demand with car companies like ford getting rid of almost all of their cars, actual cars? is that why you hit the suv? >> i think there are two things. one, so far you've seen most electric cars being super cars that cost $100,000, $80000, ect. and i think we are missing this kind of the sacrament under $40000 where people can afford it and secondly, people who love their chevys, i mean, we would all like a sports car but we drive an suv so i tried to merge a sports car
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and suv with great performance, superfast, drives like a sports car, but utility of an suv. >> do you feel like because of gas prices we see now you will get the increase demand with people looking just purely to get rid of their gas powered vehicle? >> well, i think it's not only the high gas prices, although-- also the fact that we are going electric globally. i expect the 2025 gasoline vehicle will lose incredible amount of value, so we might end up with a vehicle no one wants to buy when everyone knows we are going electric. in the us, we have always been early adopters and this technology is coming and people know it's coming. >> one of the keynotes so to speak of your cars you have the solar panels on the roof. will this suv also have solar panels on the roof to help power the car? >> the top version of solar power-- panels you can get good condition of to 100,005 miles a
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year and really condition up to 200,000 a year so we are the first really giant solar, just one aspect of just being-- you know we have no scheduled maintenance on this car, so you don't have to go in every $10000 and pay $500 for an oil change. it will be a lower cost to actually own this vehicle. >> what is the range on your suv? >> at the base range is 250 miles for the 37500 and goes all the way up to 350 miles. it's the world's longest range suv in all price class so we are beating everyone in the world right now with a range we got some very energy dense battery packs we have developed with our battery maker so it's definitely leading in ranges. >> when you get out of the major cities, it's an issue to try to find us charging stations. do you feel like that will change? >> it's going to change.
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look, i think a lot of it is just a general knowledge about the charging infrastructure and most people are really aware we already have a giant charging infrastructure. in fact, we have a deal in the us with a large infrastructure group called electrify america and they have now one of the largest independent charging infrastructures. we are going to connect that into our car so you will always see your charging infrastructure with the charging stations and by the time we launch our vehicle in the next year, you will always find a charging station and you could-- can charge up and about 10 minutes. >> henrik fisker, i appreciate your time so i won't be stuck in the middle of the roads somewhere. thank you. >> appreciate it. >> coming up as americans digest their thanksgiving dinner, we are asking iconic fitness trainer tony little his tips for staying in shape during the holidays. ♪♪
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at this point foxbusiness grady trimble joins us from a fulfillment center in illinois. grady, take it away. what we got here? >> edward, it's supposed to be a record-setting black friday as far as online sales go and these are some of the good folks to make sure when you click buy now on a website that it actually ends up on your front porch. let me show you the numbers because people started spending, not today but yesterday. on thanksgiving day oaks were spending three and a half million dollars every single minute. today, they are expected to spend even more, $9.6 million. that will be the second busiest day for online sales behind only cyber monday. we are at ship bob's fulfillment center. they handle shipping and logistics for direct to consumer companies and one of the cofounders told me that they are doing even better than forecasted this holiday weekend between 20 to 30% better, but they are
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dealing with some supply chain snarls. here's how they are helping their companies that they work with overcome them. listen. >> trying to move their manufactures and diversify their supply chain so that it's too consumer so what we see is some additional manufacturers clogged up in the us and what we are doing to help these merchants is replacing the fulfillment centers closer to the manufacturing centers and closer to the ports to get them in quicker and fulfill them faster. >> if you have been browsing the web and notice some items are out of stock, you are not alone. adobe says out of stock messages on e-commerce sites are of more than 150% compared to before the pandemic and that's another symptom of the supply chain issues, but i can assure you, edward, the folks at this fulfillment center and the fulfillment centers across the country are working as hard as they can to get these products shipped
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out in time for the holidays and people are spending in record numbers. prices are also up about 9% this year for online zero-- orders. >> just quickly, are they having an issue with the workers, getting enough people to put the packages where they need to go? >> i asked about that, and they actually said they are having a problem, but they also pay better than some of the other fulfillment centers that include benefits, so maybe that's helping. they seem to be doing pretty well here. >> thanks, grady. now, from online shopping to staying fit. the average american consumer-- consumes 4500 calories on thanks giving day and joining me now is a certified personal trainer tony little. so, what is the best way to work all of this off? by the way, my sister makes a mean apple pie and i had a slice. [laughter] >> you know, one day a week you can treat your
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body as sure amusement center and the rest of the time you better treated as a temple. it's what you walk around in all of your life. you have to change your mindset first of all to eat better, to look better, to change her body for longevity and what's going on so, i tell people, you can't go into a big diet. you just tell you have to eat smaller meals from what you normally eat and you have to work out. i work out twice a day. i'm 65 years young now. [laughter] i work out twice a day. i do muscles on one day, pulling muscles on the next day, cardio you know on another day and i don't really work out more than 25 minutes each session so it's not like someone has to invest a lot of time. >> what do you tell people that say i work 12 hours a day or 10 and i just don't have time, and children running
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around. how do we fit-- what recommendations do you have two people to fit in little workouts? >> little workouts, i mean, you can be on your couch working your abs. you could be on the floor watching your program right now doing a couple of push-ups. there is always a way, i mean, it's in your mind. change your mindset and you change your life. that's the big thing. stay positive and staying positive is taking care of your body, taking care longevity, taking care of your family, taking care of your energy and making sure you have a great positive experience in life and not a lot of health issues. >> it's important not to carry around extra pounds. why is that important for your body? >> because it's an overload. it's an overload on your heart, your logs, an overload on your joints, everything. when people are overweight there's a lot of bad things that come out of that, so you have more success when you have energy and you are in shape and you feel better and you have a clean mindset, so let's
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face it, we all should do it. change your mindset and you change your life. >> in the last 10 seconds i have with you, what one thing would you recommend people do today? and that was it. >> get your body, your blood-- ischemic that was it emma tony little, certified trainer. appreciate the healthy insights. obviously the show gods were telling us it's time to go and that is it for me here. neil will be back monday and i appreciate him allowing me too sit in your coming out of the turkey fog we had to do this. wanted to sleep in, but didn't get a chance to. neil will be back monday. this is "coast to coast". appreciate you taking the time with me. ♪♪ care. it has the power to change the way we see things. ♪♪
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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. (kate) this black friday, verizon is doing it better. a lot better. truist. born to care. because right now, you can get iphone 13 pro on us. just bring in your old or damaged phone and we'll give you the phone everybody wants on america's most reliable network. on any unlimited plan. better? better. and everyone gets up to $800 off when they switch. okay, everyone say betteeeer. (all) betteeeer! (kate) black friday better with verizon. because everyone, everyone, everyone deserves better. shop online, in store, or call today.
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(judith) in this market, you'll find fisher investments is because everyone, everyone, everyone deserves better. different than other money managers. (other money manager) different how? don't you just ride the wave? (judith) no - we actively manage client portfolios based on
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our forward-looking views of the market. (other money manager) but you still sell investments that generate high commissions, right? (judith) no, we don't sell commission products. we're a fiduciary, obligated to act in our client's best interest. (other money manager) so when do you make more money? only when your clients make more money? (judith) yep, we do better when our clients do better. at fisher investments we're clearly different.


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