tv Cavuto Coast to Coast FOX Business November 29, 2021 12:00pm-2:00pm EST
>> i said 826 because it was the lowest speed when i said number four, 5832. look at that, 243 earth days because it's much slower than the earth in the opposite direction, it goes clockwise, and venus the sunrises and it sets in the east. you have all that david asman? >> welcome to cavuto "coast to coast". i am david asman and for neil cavuto. we have a jampacked two hours as markets look to recover some from friday's national selloff. president biden is just about to address the nation as it doesn't countries have reported cases of the omicron covid variant. will bring his remarks as well and wall street ceos to grapple
with the variant. catering to china the list of high-profile leaders investing into china's will keeps growing. despite human rights abuses and other issues. as american phase record high fuel prices. the media continues to downplay it. one columnist saying we need this inflation. we will hash all of that coming up. to our top story today president biden is just about to get remarks on omicron variant and how the u.s. is planning to respond. edward lawrence at the white house with more. >> the president is finishing up a meeting where he is talking with this covid task force including doctor anthony fauci help be in this meeting when he addresses the nation. dr. fauci will be there, today imposes a travel ban from seven african countries. the travel ban, the lower tip of africa. the president will add just the nation about the omicron variant. were still learning about this.
, we know it's transmissible, canada reported two cases of the covid variant, now it's in north america. exclusive interview with atlanta. here is the president now. >> family and friends and it was great to see so many families getting together this thanksgiving. after being apart last year, we have much to be grateful for as a nation. when i was elected i said i would always be honest with you. today i want to take a few moments to talk about the new covid variant, first identify last week in southern africa. it is called the omicron, the scientific and community in south africa quickly notified the world of the emergence of a new period. this transparency is to be encouraged and applauded because it increases our ability to respond quickly to any new threats. that's exactly what we did.
the very day the world health organization identified the new variant i took immediate steps to restrict travel from countries in southern africa. while we have the travel restriction that can slow the speed of omicron, it cannot prevent it. but here's what it does. it gives us time to take more actions to move quicker and make sure people understand, you have to get your vaccine, you have to get the shot, you have to get the booster. sooner or later we will see cases of the new variant in the united states. will have to face the new threat just as we face those who come before. today three messages about the new variant that i want the iraqi people to hear. first this variant is a cause for concern, not a cause for panic. we have the best vaccine in the world, the best medicines, the best scientist in learning more every single day.
we will fight this variant was scientific and knowledgeable actions and speed. not chaos and confusion. we have more tools today to fight the variant than we've ever had before. from vaccines to boosters to vaccines for children. five years and older and much more. a year ago america was foundering against the first period of covid. we beat the variant significantly and then of far more powerful threat, the delta variant. we took action and now are seeing delta come down. we will fight, we will fight and beat this new variant as well. we are learning more about this new variant every single day. as we learn more we will share the information to the american people. candidly and properly. the best protection, i know you tired of me saying this. the best protection of the new
variant or any variance after, the ones we've been dealing with already is getting fully vaccinated. in getting a booster shot. most americans are fully vaccinated but not boosted. if you're 18 years or older and got fully vaccinated before june the first. go get the booster shot today. they are free and they're available at 80000 locations "coast to coast". a fully vaccinated booster person is the most protected against covid. do not wait, go get your booster if it's time for you to do so. if you are not vaccinated, now is the time to get vaccinated and take your children to get vaccinated. every child age five or older can get safe effective vaccines now. only a few weeks before we know everything that we need to know about how strongly the existing vaccines protect against the
variant, dr. fauci is with me today, our medical team. and believe that the vaccines will continue to provide a degree of protection against severe disease. as additional protections please wear your mask when you're indoors in public settings around other people. it protects you and those around you. third, in the event hopefully unlikely the updated vaccinations were boosters are needed to respond to the new variant we've accelerated the development with every available tool. i want to reiterate dr. fauci believes the current vaccine provides some protection against the new variant in the boosters strengthen that significantly. we do not yet believe that additional measures will be needed. but so we are prepared if needed my team is ready working with officials at pfizer, moderna, johnson & johnson to develop
plans for vaccines were boosters if needed. i will also direct the fda in the cdc to use the fastest process available without cutting any corners for safety to get such vaccines approved and on the market if needed. we will do that the same way in any modification our current treatments need to help those to get on with the covid virus. i am sparing no effort and removing all roadblocks to keep the american people safe. all of this is confusing to a lot of people. let me close with a simple message. if you are vaccinated but still worried about the new variant, get your booster. if you are not vaccinated, get that shot. my team at the white house will provide me with daily updates this week and thursday i'll put
forward a detailed strategy outlying how we will fight covid this winter. not was shut down in lockdowns. with more widespread vaccination, boosters, testing and more. i promised every american that there will always be the latest vaccines available in the booster shots available and for free and everywhere available. every single american, free of charge and i will keep that commitment. we need to do more than vaccinated americans. to be the pandemic we have to vaccinate the world as well in america is leading the effort. we ship for free more vaccines to all countries then all the countries in the world combined. over 275 million vaccines to 110 countries. now we need the rest of the world to step up as well. let me be clear not a single vaccine shot americans ever sent to the rest of the world will ever come at the expense of the
american. i will always make sure that our people are protected first. but vaccinating the world is one more tool and how we need to meet our moral obligations as americans and how to best protect americans as well. the delta variant and now the omicron variant all emerged elsewhere in the world. we can't let up until the world is vaccinated. we are protecting americans by doing that as well and we continue to separate, let's remember where we stand. were in a very different place as we enter the month of december this month. compared to where we were last christmas. last christmas 1% of american adults were vaccinated. this christmas the number will be over 71% including more than 86% of seniors. last christmas our children were at risk without a vaccine. this christmas we had safe and
effective vaccines for children ages five and older. with more than 19 million children and counting now vaccinated. last year a majority of schools were closed. this year 99% of our schools are open. let me reiterate once more we also now have booster shots that provide extra protection. they are free inconvenient. there is still time to get your first two shots or your booster shot or get your children vaccinated before christmas. all three are available and can be done before christmas. if you and your family are fully vaccinated we can celebrate the holidays much more safely. and given where we were last year, that is a blessing and nano should take for granted. we are throwing everything that we can at this virus, tracking it from every angle and that's what we have to keep doing. that's how we reopened our country and that's how we reopened our businesses in their schools and even with the
pandemic we generated a record job creation and economic growth in this country. we move forward in the face of covid-19. we move forward in the face of the delta variant and we move forward now in the face of omicron variant as well. thank you, may god bless our troops and i hope you all have a merry christmas as we approach it. questions? >> should america be worried? >> let me: nancy bloomberg. >> thank you so much do you think other countries will be reluctant to report variance or other strains given the travel ban in south africa. >> i don't think so i don't think that's what's going to happen. i want to again, the reason for being a travel ban is there are significant number of cases unlike any other country around south africa in the world.
we needed time to give people an opportunity to say get the vaccination now before we can move around the world. so most inevitable it will be at some point strain here in the united states. but i don't think anyone's been reluctant to report. we have also moved to do more. we provided more vaccines as i said in all the countries in the world combined and we provided significant vaccines to south africa and that region. a matter of fact south africa doesn't need any more vaccines. they're having trouble getting it out into people's arms and the reluctant is there but i don't think you have that affect. >> let me: alexis. >> alex from reuters. >> thank you so much i wanted to
ask if the u.s. is doing international travels for this. and what is being done if anything internally to see if i'm gonna turn to dr. fauci to into the last question about what's been done. thank you, mr. president we already have in place and people come into the united states they have to be tested before they get on documentation. even before omicron cayman we have a situation where we will be able to test, talk about testing, fortune for us the pcr is that we mostly use would pick up a very unusual variant that has a large constellation of mutation. fortunately for us we do pick it up. >> we are following extremely closely the medical community
and covid team in the development as it relates to how severe it is and how quickly it spreads and how dangerous it is. we have more work to do in the area. the wall street journal. >> thank you, mr. president, do you play europe and a growing number of countries have confirmed cases of omicron, reconsidering additional restrictions on countries with veria has been detected and separately you urged americans to wear a mask in indoor public states, are there many states and cities including washington, d.c. have lifted mask mandates are you calling them to reenlist mask mandates. >> with regard to the last question, the answer is i encourage everyone to wear a mask when they're indoors in a crowded circumstance like we are right now and that your eating or speaking in a microphone.
secondly the degree of the spread impact whether or not there's a need for any travel restriction. i don't anticipate that it this point. we will see how that works. so the other alex doesn't have a heart attack i want to call on him. >> let me ask the other alex and then you. >> mr. president is this a new normal that american should expect anticipating potential variance for intermittent travel restrictions in the stock market going forward. giving anywhere the reassurance this will become the new normal and for you and dr. fauci, he said earlier on cbs in going
forward that's pretty airplane on thursday, why is that why are you taken off the table. >> i expect this not to be the new normal i expect the new normal to be everyone ends up getting vaccinated with the booster shot so we reduce the number of people who are protected to a low degree and were not seen the spread of the viruses. we remain to be seen exactly what the elements of this particular strain are but i hope it's not going to be fundamentally different than in the past. what was the second part. >> is that off the table, why is that. >> yes it is now. people are vaccinated wear their masks, there is no need for lockdowns. >> my last question going on from that question the chris is. coming up the huge amount of
travel would you give any thought to domestic flights requiring tester vaccine like they do for international flights. >> at this point that's not been recommended. i would ask the scientific community to give me recommendation on that. >> are travel restrictions too late to be affected given dr. fauci saying they do variant could already be here. >> we understand the point of the travel restriction to give us time to get people to get protection and be vaccinated to get the booster. that is the reason for. thank you all very much. i appreciate it. i'm sure i'll see you between now and christmas. but i hope you had a good thanksgiving. david: i guess we will hear from vice president kamala harris but you heard from the president and dr. fauci as well. edward lawrence is at the white house with more. >> very interesting some of the things he pointed out.
no more lockdowns which is something that the president had advocated for as candidate joe biden. also as candidate joe biden says he would like to see the travel restrictions that former president trump put in place he calls them xenophobic when he talking about china and a tweet from february of 2020, take a look at this tweet on the travel restrictions related to africa the president saying this because of african countries trump further diminishes the u.s. in the eyes of the world by expanding the travel ban. the new africa ban is designed to make it harder for black and brown people to immigrate into the united states. it's a disgrace that's from february 1 of 2020. today fast-forward and president joe biden has immediately taken action to put the travel ban in place, listen how he described it moments ago. >> the very day the world health organization identified the new
variant i took immediate steps to restrict travel from countries and southern africa. while we have the travel restriction that can slow the speed of omicron, it cannot prevented. but here's what it does. it gives us time to take were actions. >> those actions, he wants people to take the vaccination or get a booster shot. today the leader called the travel restrictions after phobic as a quote from him and southern africa, seven countries are under the travel ban which is put in place as the president says immediate, there was a few day delay because it's going in effect today. we heard the president pitches plan going forward to get more booster shots in more people vaccinated. he believes that will be the new normal to get folks to get the shots and get vaccinated so they don't have issues down the road. david: edward lawrence from the white house. reaction from consulting
president and ceo doctor kevin campbell. great to see you. let's talk about what's going on in south africa and how it might spread around the world. the wall street journal says there's been a sharp increase in covid-19 hospitalizations in the hotspot in south africa where the real hotspot province over the past couple of weeks. fewer patients are being treated for severe disease now than in previous urges. is the world overreacting and what is happening there? >> i think at this point is prudent to react to the new variance. i think the particular variant what we know right now and we need to learn more, it does not seem to be producing a lot of severe disease but is more transmissible. the other thing to remember, the reason the south african area is a hotspot, the vaccination is less than 10%. i believe it 6%. that makes them much more likely to get this disease and more likely for mutations to spring
up because they have no herd immunity. david: the president pointed out something mentioned over the weekend. south africa is telling pfizer and other vaccine makers to hold off sending anymore. they have more than enough product right now they cannot administer all the product that they have because it has to be kept a supercool temperatures. >> that is a problem. you also see a problem there that a lot of these folks are resistant to get the vaccine. there is a lot of hesitancy in the southern african countries. the governments there along with the world health organization and other allies have to get the word out that this is the way to in the pandemic. it's going to spread and get a lot of people sick but i don't see the variant at this point being any different than the others other than being more transmissible. something to watch and study and something to react to as time progresses. david: we talked about what
might be done on a national level. we see the fully vaccinated, look at the bottom right at that chart 59.1%. the president's goal was for 70% by july. clearly were way behind. does that tell you anything about the vaccine mandate. >> what you're seeing there is still hesitancy to get the vaccine. there is a lot of questions. if you look at the science and the data. we know these vaccines are safe and effective. the benefits outweigh the risk and we need to do a better job. david: the vaccine mandate didn't help the president's goal in terms of vaccines, does it. >> i don't think i has if anything it's created pushback because a lot of times when you have mandates in the government telling you you must do something. i think people tend to push back. i think we have to come up with a better strategy than telling people they have to do it.
david: we have a state-by-state difference in how to deal with this. some people overreacting. in the last regard new york's governor has announced a state of emergency halting elective surgery and hospitals, hospitals have shown no signs of icu rooms being unavailable et cetera as of yet. that might happen in the future, it's worth keeping an eye on but is it too much too soon to stop elective surgery in new york hospitals. >> in my opinion, i think that's a bit of an overreaction. if the data shows you the hospitalization rates are trending stable and not going up i think you wait before you take drastic measures. what we don't want is people not to seek treatment and not get treatment for other diseases that they need because of fear of covid. david: we saw that causing a lot of problems during lockdowns particularly a year ago.
a lot of people put off testing and so forth in ways that lead to severe injury in some cases death. >> absolutely. we want people to come to the emergency room when having chest pain and shortness of breath. as a cardiologist we want to treat you before you have a heart attack and we want to prevent that. that's what you need to follow up with your regular doctor and make sure you take care of the things that you're supposed to take care of. do not come because you're scared of covid. david: great to see you, we appreciate it. let's bring in founding partner mitch rochelle and fox news contributor liz peek, good to see you both. the market started by gangbusters and it fell back down and it's come back up again smartly perhaps because the president didn't seem to overreact the way the new york governor has. >> i was watching the market during his comments and when he
said no more lockdown at the market began to recover. what did we hear it again we heard the disease as far as we know is no worse than the covid variant that we were even dealing with. we heard that the vaccines are just as effective against the strain we knew there was going to be a surgeon cases coming into the fall. i think the market selloff friday had much more to do with the fact that you had three years back to back of almost 20% gains. he had a normal amount of money $900 billion come into stock funds this year more than the last 19 years combined. enormous monetary access and also now a change in the view from the fed over the last three weeks we had a different change from the federal reserve. yes this very kicked off a much needed correction. i don't think that's what it was all about. david: the question is what correction did the kickoff. on the one hand perhaps there is too much overreaction to the variant.
but the overreaction itself some people think is what made traders back off a little bit. >> a call everybody by surprise, let's remember the story broke when we were digesting turkey and suffering from falling asleep on the couch. that's when this happened. the market hate surprises people woke up and saw the news on water services and what happened around the world because other markets were open treat other markets may have reacted more than we did and it was a knockdown effect in a shortened trading day on friday. people thought about over the weekend and digested their turkey and news. to lose this point if you look at the chart of the markets back to where it started. i think it's not the news of the variance, it's a fear that government like the state that were in is going to overreact and i'm glad the president said what he did about lockdowns. david: you can't stop the demand, the pent-up demand over the past year end a half.
we had a 48% increase on friday on black friday and foot traffic in retail stores. that shows despite all the news in the variant in the fear mongering. people said to heck with it i'm going to go by my shoes or television. >> there's a celebratory feeling about this holiday season i don't think it's going to dole it that much. people have money to spend. the increase in consumer network over the last year has been more than $10 trillion it's amazing and you have all the checks being sent out from $1.9 trillion care exact. there is a lot of money out there and unfortunately that means inflation is around for a while. david: when does the kick from inflation begin to slow some of the retail transit we've seen. >> attorney has in two different ways. one is the fear of supply chain and i will pivot to that right now. the fear of supply chain pulled
retailers forward. let's remember what last year was like if you compared to 2019 were actually down black friday was down, small business saturday was down and cyber monday may be down it broadened out when holiday shopping is. the robbers gonna meet the road on december 26 when we look backwards, was 2021 better than 2019. i think that will find out that inflation did hurt some consumers. david: what happens if they vote for bbb even if it's a cut down version, bbb light version from senator manchin. it's going to have an extra effect on inflation is that not, you have to put more dollars with all the deficit spending. >> that's exactly right the spending is frontloaded in the revenues towards the back of the train. the answer is preposterous to think that we want to boost this economy even more when there's too many dollars chasing too few
goods. there is no explanation accepted to wishlist a progressives ambition and they think this is the moment that they're going to get. david: the c.b.o. said it wasn't paid for and it will be deficit spending even at 1.7 trillion and they said is closer to five or 6 trillion. >> if it's honest it's five or 6 trillion. david: thank you very much we are catering next to the question of whether or not companies are catering to communist china. global leaders are bending to china while staying silent on the suppression from china. will have the latest on that next ♪ ♪
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fighter jets to defend against the warplanes over the weekend let's get reaction from the foreign policy fellow claudia. great to see you. little taiwan a little island off the coast of china did they have the power in the stand of stamina. >> i hope so they need our complete support. it's really important that china not cease taiwan. taiwan is in the front line between the free world and china right now. david: there was a bipartisan delegation of representatives going to taiwan last week. china was of course furious they sent a note to democrat member saint don't do it and god bless him. they stood by him. after the afghanistan withdrawal particularly, the whole world
wonders what good are our obligations to stand by our allies like taiwan. >> the whole world wonders china gloats and it's really important that the biden administration make clear that we do. i was appalled the president biden spoke about the latest virus variant which is being called a micron instead of exide. david: he calls the omicron. >> it's really important taiwan, there's a number of places that taiwan is threatening from australia to taiwan. but taiwan is the front line. it is the next clear step after the horrible things that china is doing to hong kong the more politicians i go there, from the american government or corporate communities that stands up to
any of us and he is a democracy, it is the chinese, now their taiwanese data want to be identified as china. a chinese democracy this is what we needed the world if china were a democracy today we would be in a much better world. david: on the opposite end of that pushback against communist china you have jamie dimon who is usually more moderate to conservative but he gave away the store to china. he made a joke about the chinese communist party and then pulled back cowtown to china directly, what do you make of that. >> that was a terrible thing for him to do. he should apologize for apologizing to restate his original, which was he hope, he
thinks j.p. morgan my outlasted chinese communist party which we can all hope it does. j.p. morgan does useful things apart from these comments from him. the chinese communist party is ruinous. when big corporate leaders do that they're both misleading the world in emboldening china. what we the people need to do is show that up, ridicule china, feel free not china as a country but the chinese communist party, jamie dimon said his apology is wrong to denigrate a group of people, i beg to disagree the leaders are communist, responsible for the deaths of millions for genocide in shandong threatening the world order. it is okay to ridicule and criticize them. david: their leaders are not representatives of the people either. it's into talent. dictatorship. the sleeve on a positive note. yet the nba star who is just becoming a citizen and is
changing his name to ines freeman, he is standing solid with a straight back and focusing on the communist party of china and actually the whole team is with the boston celtics there behind him 100%, what a wonderful change from where nba stood a couple of years ago. >> take that as an example for all, look for ways that the chinese communist party. do not be afraid to ridicule to roll china, there are own people in china that would do that if they could they are tried and thrown in for doing it. there imprisoned jail brutalizing destroyed. we still have the freedom to do that. it's really important this is a real threat. if you want virtue i would be less worried about what companies are people or anything else you with things like
admission intended to affect the temperature of the earth to the second decimal point, a lot more concerned the more applications of counterweight to china were telling the truth. david: there is a different between long term concerns intermediate concerns the chinese party is a more immediate concern. thank you very much. after break democrat scrambling to avoid a living government shutdown. chad pergram has the latest from capitol hill would become back. ♪ and your family first. i promise to serve, not sell. i promise our relationship will be one of partnership and trust. i am a fiduciary, not just some of the time, but all of the time. charles schwab is proud to support the independent financial advisors who are passionately dedicated to helping people achieve their financial goals.
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ask your doctor about once-daily trelegy. and save at trelegy.com. ♪♪ 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. >> welcome back to "coast to coast" i am chad pergram on capitol hill. this will be intense as lawmakers return to capitol hill to social spending bill that goes by the wayside for now, the bill will not hit for at least a week in the senate. lawmakers will train their focus
on avoiding the government shutdown by the weekend and lifted the debt ceiling later this month. skeptical like these are typical at the end of the year. >> we always have drama this time of year because we put it off until now and before christmas to get them done but we also have it around the debt ceiling of the possibility of shutting down the government. >> it will take some compromise but we will get there. >> democrats could pass a band-aid bill to fund the government but the bigger problem could be the debt ceiling. gop members will not help with that. >> they the ones that have put us such an debt. they should be responsible for spending and raising the debt ceiling. they control the house and the senate and the white house. they have passed all the spending bills and trillions of dollars of debt. let them pass the debt ceiling. >> democrats say the gop did
little to address the debt, the covid bill last year was bipartisan. democrats passed a bipartisan $1.9 trillion coronavirus bill on their own in march and expect more debt if they passed the massive spending bill in the coming months they went keeping you busy, i hope you had time. good to see you. the media continuing to downplay inflation. new york times columnist clouded his tolerance for inflation, listen. >> it always wages of the bottom with the company and bring people back in labor force which is happening and spreading around the country not concentrated in a few cities. i have high tolerance in the kind of economy because we needed the society to heal treatment wellspring in ms. rochelle in liz peek feedback billionaires can afford the tolerance with inflation. the middle class and the poor cannot. it's a high-class problem.
>> is insidious. the fact that the lowest wage earners are going up as high as inflation is. in a vicious cycle that we have inflation running hot and even if wages are going up its equity catch of the reason we have inflation because the labor market disruption so we have to pay up for workers which is driving up the price of everything that we buy in the service economy. there is no way for the bottom half of wage earners to catch up. david: 's demand and supply, yet they demand the problems with the fed printing more money in their monetizing the debt of all the spending and then you have the supply issues physical labor shortage. there's one part i know david i worked with him at the wall street journal, he's a decent guy but i think he is a dead wrong when he talks about inequality. it was shrinking under the tax
cuts of donald trump up until the pandemic. >> is also wrong about the labor force anticipation increasing. it stuck in the mud. what you need, the biggest issue is a shortage of labor that is come about for many reasons including a lot of people residing and a lot of people retiring because they made a lot of money in the stock market. also because there's no question that the various bills would've been passed included the rescue back and through so much money a people that there was no need for people to go back to work we saw in last month's numbers with some of the payments., people to go back to work and particularly at the lower level income job which is very good news. i think he's wrong on his numbers but the best welfare program on earth is putting people to work in getting a job. that's what this administration is going to focus on going forward and not more handout. the build back better bill is a
disaster. it does exactly the opposite. >> in industry specific problem that's causing inflation, the energy industry. we had energy independence under donald trump. we spits out 180 degrees with the president wants to kill off fossil fuels and doing his best to do so. forget about the he's encouraging overseas and russian opec but they just had a new announcement that they wanted to raise taxes the interior department on drilling federal land. i interviewed former president trump on friday. he said it would be easier to deal with inflation with energy releasing once again. the great stories of energy that we have of the united states to bring down the cost of energy. to be easier than immigration. >> i agree and i spent the weekend of the midwest i went to michigan to see my son. if you look at a parking lot any place you had pickup trucks lined up in a row.
the basic beginning for small businesses is a pickup truck is causing those folks 50% you did a year ago. let's talk about home heating natural gas is the thing that they use for home heating and they produce plentifully in the united states. if you want to fix inflation, energy and people cost of the survey component. david: because of the attacks on natural gas were using coal that we did year ago. 24% opposed to 20%. we'll talk about that covenant. more cavuto when we return.
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what it appears markets are taking some encouragement that he was not talking about lockdowns and local leaders are like the governor of new york. they are improving, both the nasdaq and the dow jones industrial, these are about the high of the day, close to it at any rate. things are looking very good on market. oil is on pace for the best days in august after seeing a 13% slide to close out the week on friday. this is opec is reportedly postponing meetings this week to evaluate the threat of omicron.
the president said omicron. let's bring a canary llc lpn everhart, great to see you. thank you for being here. i'm guessing what's happening with oil, it is betting they do. will not cause a lockdown that we were worried about on friday the back is been a bit of a wild ride friday was a safer oil since april 2020 when oil went negative. the best fit for oil in a few months is been a wild ride is things like writing historically the day after thanksgiving is a slow day for trading volume is the day when there's algorithms are mechanical automatic trade. i think the market got ahead of itself. economic fundamentals are so good it looks like the market overreacted for the newberry and the damage it can cause.
david: last week we had president biden saying we need more supply of oil to get the prices down but then his interior department comes in with the new suggested tax increases for drilling on federal lands. if there is one in economic, if you want less of something you increase taxes. one that cause less oil to be produced in the united states increase taxes on drilling? >> on oil and gas the biden administration is trying to be on all three sides trying to appease the progressives and was there calling on opec to produce more oil to lower the price at the pump. at the same time they want to hamper the domestic industry with restrictions on fracking and drilling on federal land and offshore. the policy is a bit of a mismatch. the biden administration seems to care less about energy prices
but they do whatever to signal a little bit. they seem to care more about green energy and alternatives. david: we gotta make this real short were moving more to call, 24% are met by coal, 20% year ago all of this is attacks on natural gas increasing our coal usage. >> natural gas is really high right now, people have to shift from natural gas to oil and that is pushing energy prices up. david: great to see you. president biden saying don't panic over the covariate how lawmakers will put new restrictions in place. we'll break it down in the next hour, stay tuned. ♪ our retirement plan with voya, keeps us moving forward. hey, kevin! hey, guys! they have customized solutions
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>> even though experts are saying don't panic concern is still growing. new york's governor declared a state of emergency in the u.s. today started restricting travel from south africa and seven other african nations. other countries are following suit in japan, israel and morocco are banning intrigue all foreigners. the president's remarks raise questions of what might be coming. he urged adults to get the booster as the primary way to combat omicron which introduces the point of what fully vaccinated will mean with mandates and effect as experience spread. on top of that south africa spoke their being punished immediately. with the president didn't decide the number of cases that cause the move and more international bands are unlikely. >> the spread impacts whether or not there's a need for any
travel restriction. but i don't anticipate that at this point. the airline industry is hoping that the president's assertion there will be no trouble being, delta and united are the only two airlines that have a direct flight from the united states and south africa. they have stated they have no plans to change the route currently and you can see on the board airline stocks are rebounded at this news. you can see around me travelers are flocking to lax. i spoke to a member this morning and the common thing the yearning to return to normal. there is exhaustion with the variant that are coming one after another. i have to say, it is unclear from talking to folks whether americans will accept more restrictions and more moving of the goalpost. david: the south african dr. who first spotted the omicron during say most patients who contracted the newberry and have experienced extremely mild symptoms. so far at any rate.
willis is otter newsroom with more. >> the omicron variant discovered in south africa buffet a month ago and already assumed to be in the u.s. by cdc officials. it may be less worrisome and initially thought. that according to the doctor who first treated patients with very. >> we have it admitted anyone. >> that was doctor angelique, people are completing a body a headache but not a sore throat and no cough or loss of smell or taste. fewer patients are being treated for severe disease than in previous urges. that is according to south african national institute for communicable diseases. however, an unusually high
number of children under two years of age have been admitted to hospitals. the initial reaction to the newberry at the dow selling on friday was partially a response to the huge number of dna mutations. some 50 the sparked worries our current vaccines would be ineffective against it. it was also said the variant might be more transmissible. neither the most popular vaccines have been tested against omicron but pfizer ceo saint today, he is a high level of confidence of the company's covid pill will be effective against it. the response happened quickly south african scientists issued a warning last thursday. the world health organization declared this during on friday and by then vaccine makers were already at work trying to make a new job. today turnaround of markets and moderna shares are on fire this morning up as much as 10% earlier. pfizer is kind of flat at this time but it's been a real fire
under these stocks. back to you. david: with the vaccines in the therapeutic. they got it all covered. thank you very much. new york city is pushing indoor masks again, wall street ceos are taking things a little slowly or dr. birx. charlie gasparino, they're trying to but you have the new york governor coming in with all the suggestions. it actually mandates for the hospital. >> my tweet was on sunday. a lot is riding on whether this variant is something to be really concerned about. wall street has a lot of money they pay for people to figure this out and get ahead of the curve. i want to say the initial read, that does not mean this thing could be a lot worse, what the hell do i know but the initial read from scientists of the wall street firms are plugged into, the health officials. what happened last week to the
initial concern was an overreaction. again this is a moving target. don't worry about covid. it was something to be worried about obviously. there is a lot of money riding on this. they're saying two things injury touched on a couple of those. that's what i sent lee tweeted out this weekend. number one the symptoms appear to be less. the vaccine and the treatment protocols whether it's the moderna pill the monoclonal antibodies in regeneron is amazing stuff, that appears to work with this. that's at least what they have now and they don't know because they don't have enough time to check it out whether this is transmissible as much as delta because of the way that you check this stuff. i'm not a scientist and trying to translate a little bit. it'll look more transmissible
now that it might be when they have more data only because the sample sizes smaller. the best way to put it. again i'm not a scientist. but i think that is it. don't be surprised you seen scott gottlieb the former cdc, fda tweeting this out. they need more data in juicy overtime letter will look like it transmits less. if you're in the market i went on him or show when he was doing daytime tv, he still does it by the way but it was his own show in february of 2020 saying you should go 20% in cash just in case this gets really bad. it was good advice because the market sold off rapidly. the stimulus came anything about that and save yourself some money. i only knew that because i was
talking to hedge fund guys. you're not getting that now. this is different and the president came out and confirmed it be when the president helped the market we saw the markets improved after what the president said he spoke against lockdowns, young the local politicians within your company and they could have a lot of influence on a day-to-day. david: i'm talking about de blasio and the governor of new york who called for the restrictions on hospitalization if you have elected treatment. some people say their way ahead of where they should be facing follow the signs with their head of science. >> pathetic, i'm triple back, i was never a denier when people were running around saying this is much to do about nothing, this is covid, you're crazy but taking for what it's worth i think based on the evidence that we have so far. they're way overreacting and what i'm scared about i hate to
be a conspiracy. but joe biden looks horrible in his poll numbers are terrible but to distract people. david: there's another question which is political power related to what you're saying. the pandemic has given politicians a unique opportunity to take more power than they ever have in my lifetime. >> and past the crummy bill. david: may be lost to conspiratorial. >> there is no doubt that there is a messaging aspect here to covid and politics plays a role. think about it last year we were told every day of the week we could not leave her house in march and april. if we go in a big crowd and started to scream you could
maybe get covid but if you wanted to write you and bring down something and hang out with a bunch of people screaming at cops, that was perfectly okay. that's exactly what went on. we went charlie gasparino, pouring water on conspiracy theories but something you should question going on. thank you very much. how do lawmakers react now that biden has said don't. reaction from post-columnist carol markowitz on what's been happening. if you see politicians panicking. charlie was talking about it but there may be an alternative motive of what's going on and making sure that they have access to the pandemic power that they become addicted to. >> you're absolutely right there is a political element here. governor hopeful in new york has a really set elective surgeries
have to be canceled hospitals. that is insane to do. that is a dereliction of duty. a lot of people will suffer because of the order. it makes no sense because our hospitals are not filled with covid patients and were making decisions not based on numbers or science is literally whatever she feels like doing. it's an ongoing issue that these politicians have gotten used to having the unchecked powers that we need to strip them of. david: what is insane about all of this, thankfully the president didn't go there they went in the opposite direction which is again why i think markets are improving today. by shutting down elective surgery majors, she is really going to get the assignment. a lot of doctors i talked to said this is not what we should be doing, people could suffer as a result of this. it's not like she's following assignment feedback except we have doctor anthony fauci who is our national spokesperson for what we should be doing about
covid. he is an ongoing problem when he goes on tv is often very hysterical and he contradicts himself against information on. i tweeted multiple times where he gets things factually incorrect. he was on tv yesterday same prepare for the worst. your calling her doctor but she's not governor copy hopeful is listening to dr. fauci, she's preparing for the worst. david: i don't know if you heard but it does seemed like more information came in from south africa from doctors there or whatever or maybe there's political pushback that dr. fauci got from inside the white house but he seems to be speaking in a much calmer manner of what's happening today than he did yesterday remarked that the very typical dr. fauci thing he says one thing one day and another thing another day. constantly contradicting
himself. this messaging goes out to the american people they don't know what to believe. yesterday we were supposed to prepare for the worst and now he's feeling a little better. this messaging is a problem for us and i think you need to be opportunities, honestly. david: you been writing a lot about what's happening in the schools of the pandemic increase indecisive schools for shutting down and then all of their various, not vaccine mandates but primarily the mass mandates. now we have a nasty advisory coming from the governor of new york. it's not a mandate is an advisory but just as we were getting back to school, just as we were getting assembling abnormal policy. i'm wondering where we go from here. whether the advisory will turn into a mandate feedback if i had somewhere to place a bet, i would place out that. i think it's absolutely coming and we learned pubescent over the last 20 something month at
this point. i don't think an indoor math mandate makes the difference. you can watch the numbers of the indoor math mandate had no effect on the case numbers. schools across the country, some of them don't have mass mandates and they're not seen an uptick of cases. florida where the governor specifically ordered schools not to have mass mandates had the lowest k-3 in the country. none of this works, it's unfortunately we can't learn our lessons we do things they can't work. david: do you think that we may see more shutdowns where will the pushback from inside the beltway. it does include the president was specifically arguing against lockdowns again just moments ago. you think that message will go out to the governor of new york and perhaps a pullback of it elected is tough when you dr. fauci terrifying people. it's very hard to dial that back
a lot of people have ongoing mental health issues over the fact that there afraid to liberalize their kids with their lives. it's a problem. i think the politicians make a decision based on what dr. fauci said yesterday will have a tough time dialing about because he changed his mind today. i think we need to have more clarity from the top and less hysteria. we've been talking about that for a long time. david: hysteria is not getting to base public policy on. thank you for being. bid enter big news in the tech world jack dorsey is stepping down as ceo of twitter. will bring you the very latest right after this.
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1-800-217-3217. that's 1-800-217-3217 prefer heb focus on twitter obviously if you heard his commentary he seems more focused on payments, finances and frequent encryptor. a lot of people say this is a natural transition according to reports of been in the works for the past year or so is stepping in immediately of ceo is the chief technology officer. it's an interesting choice that
you have the cto stepping in. there's been a underperformance compared to facebook over the last few years underperformed this year since facebook is up 20%, twitter down 15% twitter has 200 million users. david: is not because facebook is better monetizing than what they have at twitter. >> yes i would say there have been very strategic in their acquisition like whatsapp and oculus. they have been very good at buying instagram and getting more users on board were twitter this is the reason why elliott management has pushed for leadership changes he hasn't been that strategic. david: he knows how to make money with square is not that he doesn't know how to make money. susan: the vote conference where, through jack dorsey they want to behold (congress be when they want to target on your back. >> strategically he said they don't need to feel without somebody's trying to push me out
about my well comes from somewhere else they wouldn't fascinating man what you get interview with him? susan: politics aside i think we would keep a visionary. david: upbringing ceo ray want, what do you think of this object dorsey's resignation from. >> they said about time on twitter when he said he was resigning mostly because he is passionate about crypto and he wants to spend more time building out and trying to rebuild the infrastructure behind twitter. it's a lot of work they had to do about technical debt building out new spaces in new services that are out there and they have to grow the injured. it's been there for a long time in the natural transition as susan pointed out she is correct is been there for a while jack is a little bit tired at twitter
be when putting politics aside could you monetize twitter better than a has-been? be back yesterday definitely ways they have been opening up twitter blue which is services that people are using and what solid twitter side the ability to change the way they target their ads and to compete on the social audio front and spaces. there's a lot of opportunities for them to do that. they have to decide whether there news company or social media or technology platform. david: i want to switch to tesla. it's a very interesting rivalry if you will because tesla and gm with the elon musk's mother chiming in. she set out each week criticizing president biden for suggesting, i believe last week. praise mary barton and gm for revolutionizing electric car sales in the united states.
80% or because of tesla. it is not gm. she was suggesting there were other reasons why the president skipped over tesla. one i would suggest is because tesla is nonunion and gm is fully. >> politely speaking it could be the union factor or the fact that elon probably is the smartest guy in the room and other reasons that he left california for texas for other areas for more production costs less inhibited businesses are thriving. it sounds like some of those reasons but to fully ignore elon musk in the conversation about these at the white house and ignore him and all the conversations in the bill, that doesn't make any sense. this is a pioneer that you're going. david: just to go back to 20. there was a tweet that he sent out and he said nothing is
stopping tesla team from voting union. we could do it tomorrow but why pay union dues give up stock options for nothing. our safety record is two times better than when the plant was uaw and everybody already get healthcare. this is a direct rebuttal to the president of president biden's concerns. he said it is clear while this was written before president biden was in the white house. president biden cares more about a union shop than he does demographic and what about president biden and the handlers in the terms of the messaging that is there. infrastructure bill was backed by the union and not part of the challenge. if you look at the record so much better than the union plan. if you look at the record for the get the factories in nevada and what will be opened up around the world, the pain better benefits and a lot more upside. they will do augmentation better
than anyone else. looking tesla factory there is a lot going on and everybody has a lot of input on the line if you normally would not of god with the union being imposed on them. david: to visionaries, you're a visionary but you have elon musk and jack dorsey. real visionaries that created the whole industries. good to see you. thank you very much. why chuck todd is taking president biden task over the handling of the covid pandemic. details in reaction from joe concha when we continue. ♪ ♪ ♪ ♪ ♪ ♪ ♪
covid response over the last couple months, one could argue he has not been the face of the covid response. not in sometime or how we declared back in july when he declared independence from the virus, obviously premature through the social spending to the political problems none of them can be solved until covid is behind us. this is a reminder that he needs to be more front and center on the covid response that he has been so far. david: chuck todd challenging president biden's handling of the coronavirus pandemic particularly light of the omicron variant. joining me now the hill columnist and fox news contributor joe concha. it's not omicron by the way is president biden kept saying. chuck todd said he should be more front and center with all of the problems in the lapse of the president has had. if he was with that solved the problem the white house has with endemic? >> the virus is going to do what
is going to do in no spin can put on it. he got out and would have to speak up front of a teleprompter in his handlers do not want him doing that very often. this is a president who said as a candidate he would stop the virus. he had a plan to get it under control. he even said as a candidate any president who resided over this. by his own standard that president biden should not be president. there are more deaths than she did last year. by his own standards nearly 400,000 americans dead since beginning of this year. by his own words and standards joe biden should not be president. david: we have those words, we have the soundbite let me play it to joe concha's point. >> 220,000 americans dead. here nothing else that i say tonight.
anyone is responsible for not taking control, taking a no responsibility initially anybody responsible for that many deaths should not remain president of the united states of america. david: he said anyone, he is one. that seems to lead you to ask why shouldn't you resign. >> if i were doing an interview with the president, that the first clip i would play and have them answer to that. remember the previous president didn't have vaccine and therapeutics like we do now. this one does is twice pulling underwater covid now he's overall underwater. 36% overall in the low 40s if you look other polls time and again, this president is undermining the effectiveness of best vaccine he joined a video conference wearing a mask despite being fully vaccinated
then he implores the american public, follow the rules and where mask except rudy got the dragon washington, d.c. restaurants when they had a mask mandate or nantucket. they have the strictest mask rules. for him to be filmed and shows hypocrisy of it all from so many of our leaders. i think what you heard earlier the new variant he suggested he had a more holdback approach to the new variant for example. i think the white house is getting the message. first of all the vaccine rate is much lower than expected despite or maybe because of the vaccine mandate. they seem to pull back again on the mandate. >> did you watch michigan and ohio state what a game inosine and ann arbor. to see the 100,000 people there
altogether. time and again, were seen people gathered in very large places. it seems like the country just wants to get passes so badly. the messaging that we saw on friday with the bucket state compared to today they're getting the message out far as weight for the science of the data, and before you start implementing x, y, and z like the governor from new york with the elective surgeries politically it suicide to follow the science and you make it totally political. charlie gasparino's point earlier. david: thank you very much for coming out. joe concha a new migrant caravan marching towards the united states. we have a live report from the border right after this. ♪
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headed to the united states to reinstate the trump arrow remaining mexico policy in the days to come senior correspondent casey stegall with the very latest. >> good to see you another busy busy day down here along the southern border. the bulk of the activity that we seen so far today really happened as the sun was coming up or the predawn hours. there is a thick layer of fog as we were driving in. that reduced visibility and made things challenging for the ages out here working in the brush. border patrol agents said they processed a handful of smaller groups. the majority surrendering to agents but there were two of father and a son who local police picked up on the nearby highway. listen. >> we ran into the two individuals and we asked so we
would have to bring them. were not to believe them out there because we know the get exploited, what do we do we bring about our units over here. >> there are constant reminders of the humanitarian crisis down here. over the weekend smugglers and be ended at 2 - 3-year-old little boy who is now safe and in u.s. custody. were getting reports that this week the white house could reinstate president trump's remaining mexico policy. that requires individuals to wait outside of the united states while their asylum claims are processed. the administration has tried repeated times to end the program since biden has been in office but it was challenged in court and the judge got involved and ruled that it must be reinstated. details of that are expected to be released at some point this week. to be continued along the
southern border. it changes by the day. david: the personal tragedies leaving a 2-year-old boy. u.s. companies and officials continue to play nice with china despite its aggression against taiwan and human rights violation, fox business lydia hu is here with more on that. >> this is a spotlight on china's relationships that are stretching from hollywood to the financial world and the mba. let's talk walt disney's company for the wall street journal reports an episode of the simpsons is missing from the walt disney company streaming platform disney+ in hong kong. the missing episode represents tiananmen square in a reference to the iconic photo in which a man stands in front of the tank. it's not known now whether disney removed episode under pressure or decided to take it out when it launched disney+
earlier this month but it's leading to concerns about rising censorship in hong kong. j.p. morgan ceo jamie dimon is being criticized after he apologized twice for remarking wall street largest bank will outlive the communist party which is celebrating the 100th anniversary. jamie dimon boxes comments back saying it isn't right to denigrate the country or the leadership but some point out his comments were not the problem but the apology to the communist nation as the bank looks to expand its business. finally some are questioning why the world health organization named the latest covid variant from south africa l micron. the organization uses the greek alphabet and skips to letters to get to all micron the first with new spelled with in you it could be confused with the new.
and it spelled asked i the same spelling of the president of china, president xi jinping to help organizations claim that is picked and transcript a letter and it avoids causing offense to any cultural groups. for some the move underscored how this deferential to china. take a look at this, ted cruz tweeted. if the w.h.o. is scared of the chinese communist party, how can they be trusted to call them out. next time they're trying to cover up a catastrophic global pandemic. stand out from all of this is boston celtics cantor, he is most recently calling on the international the big committee to move next year's olympic games away from beijing after chinese tennis player peng shuai disappeared after her public accusations of sexual abuse at the former communist party leader. buddy's also criticized in the past, very recent past that nike
in the mba for staying silent and human rights abuses and minorities there. david: and he has a new last name of celebration of becoming a citizen, his last name is freedom. >> how great is that. david: that is great. we should mention the mba seen a real falling in ratings. a lot of people say because of some of the moves that they have been making. this might bring viewers back, the entire boston celtics team is behind what he's been doing insane. >> it's nice he has some support. david: after the white house wants to raise costs for energy production at home. we have details moments away. ♪
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david: as consumers are dealing with historic energy cost, the biden administration is looking to oppose more drilling fees at home. edward lawrence is at the white house with more. this is a shot and you know where for oil companies, not in the right direction. >> and possibly for the rest of us. they want to make it more expensive and add regulation that could limit the investment.
the future investment to drill for oil. the department of interior released a report that plans to raise royalty fees on leases to drill on federal lands. the minimum fee is 12.5%. they call this modernization and says the administration will limit access to cultural zones and wildlife areas, conservation groups are calling them to week. the oil industry saying it's too harsh and it could raise gas prices by limited new supply long-term added time about 70 cents for record prices at the pump. >> gas prices are hitting the roof they wanted to white house the president drew target on the back of american energy and pulled the trigger now with the strategic petroleum reserve, he's trying to put a band-aid on the bullet hole. >> energy production brings an $11.3 billion annually in
royalties and rental fees for state and federal government. raising those could push the cost on all consumers no matter the income in the form of higher gas prices paid the administration asking opec to produce more oil. like last week blaming oil companies. >> is a gap between wholesale and retail gas prices was aligned with past averages, americans would pay 25 cents less per gallon right now as i speak. instead pocketing the difference as profit. that is unacceptable. >> oil prices dropped last week but nothing the biden administration did fear of the covid variant all micron and the possible shutdowns is now on its way back up. david: as our colleague larry kudlow says the president got one thing right, he said we want the price to come down and more production of oil. if you tax something more you get less of it in their taxing
oil more so will get less of it, not more. >> you hear his words and you have to see the actions going on. the last time the average barrel of oil was more than $100 was from 2010 - 2015 barack obama was in office and his vice president now current president joe biden. david: thank you very much. meanwhile president by did expected to speak later today on strengthening the nation supply chain retail watcher is here on what we learn from shoppers on black friday. it was interesting black friday. first of all happy thanksgiving and happy holidays. we saw a 48% increase in foot traffic at retail stores compared to this time last year. it still 28% lower than it was in 2019. but that's a huge increase in foot traffic. >> is a huge increase.
were comparing this to a year where none of us were really shopping last year. i said this a couple of days ago. my family we didn't even give gifts, i barely left the apartment last year. the 48% is pretty significant but compared to the last year where people were really out, this is 2019. it is actually down which signifies one thing, people have gone online more and also they started shopping earlier. i was looking at statistics from oracle and they said 30% of people as of a couple weeks ago had not started their christmas shopping. it's pretty low. 70% of people are ready pretty much have everything finished. it has something to do with the consumer supply chain and they may or may not get those gifts on time. david: i don't want to sandbag you, you said online, we got
news from black friday the online sales actually reported dipped for the first time ever on this black friday. what is going on there. i know during the pandemic online sales were booming but it came down this black friday. what is up with that. >> it's a fear factor people were really concerned that they were not going to get there gifts in the supply chain. i tell you this is the first time ever heard regular consumers talk about supply chain and what my mother called me up and said in his referencing supply chain and the ports of los angeles and long beach. you know this has gone mad. 77% of people according to oracle are concerned the supply chain will have a impact on the supply chain. what does that mean people stopped early, they started shopping. if you remember prior to
halloween, the promotions were going on a couple weeks before halloween before holidays. david: you pulled the rug out from the black friday sales. inflation, i've got to talk to you. we all know it's a huge problem for americans right now for people all over the world for particular america were spending deficit spending. that is causing a lot of disinflation. when does that catch up to consumers. >> i think it'll take a couple of months before he catches up with consumers. right now we see the hyperloop of inflation which basically in a very basic term uc when there's a lack of supply prices go up and increased demand consumers now have the pocket money to spend on that so they will spend on that. when you're sitting in a heated room and a temperature incrementally goes up and you don't realize it's getting
hotter or too late. the consumers don't realize while they're spending an increase of 30 - 40% on basic items not until after the holiday season probably a couple of months from now. the prices are getting steeper. right now the consumer is willing to spend it because i have the money. david: that's a great term. wait to see you. thank you for coming in. a quick housing alert pending home sales surging seven and half% october hitting the highest level since december of continue. like jack. he wanted a streamlined version he could access anywhere, no download necessary. and kim. she wanted to execute a pre-set trade strategy in seconds. so we gave 'em thinkorswim web.
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