tv The Evening Edit FOX Business November 30, 2021 6:00pm-7:00pm EST
it's a little sad and it's a time that we need to hope. michelle obama said when we go low, they go high. i'm not so sure about that. the grinch came a little early this year. on fox business, "the evening edit" is up next and it starts now. >> market selling off as fears of the omicron beria and inflation continue to grow. we take it the latest details of what were learning about the covariant as well as the restrictions and overreactions to it. plus the impact it could have on our economy and the rest of the world. joining us tonight doctor marc siegel, claudia tenney, labor secretary nominee, former national security advisor in the
retail advisor in the country, republican strategist ford o'connell and bitcoin foundation chairman rock peers. they're all with us. meanwhile with inflation increasingly chipping away at our salaries and savings, fed chair jerome powell and janet yellen trying to defend their policies on capitol hill today. we have the highlights in a look at how progressives could make the central bank even more woke. plus just how much is inflation caused by bidens policies as opposed to the pandemic. we investigate. crypto currency going mainstream and not just for investing, people are increasingly getting paid. but new regulations spoil the party. and then growing global conflicts, president zelensky says it is been uncovered and set to take place in the next couple of days. the kremlin denies a role in it but they've done that before. ended the other part of the
world tensions between china and taiwan continue. is the u.s. ready for an outbreak of both conflicts at the same time. it is holiday shopping season meanwhile. we've gotten through black friday and cyber monday. find out what the numbers were and how the rest of the shopping season is looking as we deal with rising inflation and the never ending supply chain crisis. as if that wasn't enough for retailers. they are also forced to beef up security on their own as smash and grab attacks recount all over the country and the radical prosecutor sit back and watch. are the prosecutors and the politicians who support them on their way out? i am david asman in for elizabeth macdonald. "the evening edit" starts right now. ♪ joining us now fox news contributor in ny new langone professor of medicine doctor
marc siegel. let's talk about omicron and compare it first to delta. we know about delta and we know how quickly it spread throughout the world and what damage it ascended the united states and elsewhere. is omicron not bad. >> we don't know, we don't know transmissibility because we don't know how long this virus has been around. we know south africa discovered it but it's becoming clear and clear that has been around for several weeks. if it's been around for several weeks and you're not seen icus filling up with it. that's a good sign. there is a plane that landed in neverland with the majority of the people who got off and breakthrough creases that had dealt an omicron. slowly the data is coming out but one thing it does seem to be quite transmissible. read in south africa, people have not gotten that sick with it were still worried about the
higher risk groups that's one question on the table which is more transmissible delta or omicron. they are competing, viruses compete. the one that is more transmissible will emerge just like delta took over from alpha. david: we showed the wall street journal headline they claim the vaccines are well equipped to handle the new variant. other vaccine makers say they're not sure. any word, what does your gut tell you about that. >> first of all i talked to scott.leif about this today who is on the board of pfizer and he feels that the vaccine will produce neutralizing antibodies and t cells and b cells and not so much that all have an impact against ovarian for sure. the question how much of one, we don't know intel we see it clinically. we will not be able to tell than the laboratory. the modernist ceo. we might not see the same level
of protection that we see for delta. it is down a bit, get the booster that's with the booster is doing. that message needs to be clear we need as much immune protection as possible while they work on pfizer image irna in a more targeted booster for three months from now. david: i heard you earlier say it will take three months for vaccine makers to adapt to the new variant. if we don't adapt well to it already. three months is a long time for a virus like this. worse case scenario, does that mean were out of luck if in fact it doesn't react to the vaccines we now have and we have to deal with therapeutics because we do have a good supply of therapeutics. how good are they again since variant? >> these are great questions. i don't think were out of luck. i cannot imagine a scenario where the vaccine doesn't give us partial protection at least partial protection against your
booster. that's the difference from going to the hospital in a mild case, risking death in a high risk group and having a mild case. on top of that were on the verge of the antivirals to get started. i would urge the by diminished ration to do something that the very poor at getting rapid testing around the country so we know who has this very early on so will we have an antiviral. when the pfizer drug is better than the merck drug. it will help and i think the pfizer is looking better in studies we will get those out very quickly if the fda approves them very soon and if you get the rapid test, you have and you get that drug. one thing i believe, i don't think the antibodies are as effective against us. he that's not looking great. vaccines will have an effect, monoclonal's less so. david: that's regeneron and monoclonal unibody stuff. that is unfortunate because it works wonders.
i had a dose of that when i had covid. within 24 hours i was 100%. let me talk about the overreaction particularly in states. we had the president, yesterday, he gave a calming voice to the whole question of what was happening with this. then you have the governor, the state of new york immediately over the weekend announcing elective surgeries would be halted as a result even though there's no sign that the icus are filling up yet. isn't that an you're responsible response to what we sing? >> especially since what that risk is other things besides covid. with all this obsession about covid. everyone i talked to involved in the cancer game said screenings are down already. were trying to catch up, heart disease you call the elective surgery but is not really elective. i didn't like it all hearing the governor say that. she's targeting upstate new york trying to bully them and to
better vaccine compliance. even though the president had a calming tone a lot of bullying and shaming i do not go for that. david: we have to emphasize, because of the vaccine mandates in the state of new york and because of her vaccine mandates, the governor of the state of new york. we had an extraordinary number, thousands of health workers have resigned, taken early retirement or been fired. over 8000 is the number right now. could she be using the variant and the fear about the variant to cover-up for the problems that she has created with the vaccine mandates. >> that's possible xi jinping the gun and responded to something doesn't exist in this state. we don't have a single case. what i like to say about these mandates. you need to look to israel and europe and consider testing as an alternative and consider a
natural immunity of infection as an alternative. in israel you get six months. if you had covid. david: is really a question of a public health emergency caused by these vaccine mandates because you can't have the state who is 8500 healthcare workers like that without having a problem to deal with it. that's why the courts are coming down against the president's mandate regarding the hospitals and hospital workers. >> already a shortage. david: thank you very much for being here. growing global conflicts, president zelensky says a coup has been uncovered. the kremlin denying a role in it. meanwhile tensions between china and taiwan continue as the united states readies for two crisis at once. congresswoman claudia taney and
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david: jerome powell testified along janet yellen in front of the senate banking committee. where he had back at the biden administration that inflation is transitory. hillary vaughn has a story. david: the line that inflation today is temporary and is transitory is getting trashed today. inflation right now is supposed to check off all the boxes that the fed needs to see in order to hike interest rates in response. powell calls it temporary is it really the best way to describe the crazy high prices americans are seeing every day and could still see until summer. >> is a good time to retire that and explain more clearly. we indicated that inflation pressures will linger into next year. you do stand by that?
>> that's our expectation but what is happened the date has been pushed out repeatedly as supply-side problems have not really improved. >> chairman powell painted a picture of the recovery with the omicron covid variant spreading, he thanked people won't want to show up to work because of it. >> the emergent of the variant post downside risk to the employment and economic activity and increased uncertainty for inflation. >> i'm a bit worried that the administration has a policy of zeroing out covid. the goal here is to remove a virus that's likely to be around for as likely as we arrive. >> we will see this disease been around for a long time. i think the economic effect over time will diminish. >> they will know in about ten days how bad this variant is in-house fasted spread and how the vaccines react to it. once i have the information, they will decide what action to
take. david: hillary vaughn, thank you very much. the biden administration blames inflation on the pandemic. how much are there policies to blame, for more that's bringing claudia tenney and how small business and former labor secretary nominee and author of the new book, it's time to let america work again, andy puzder. thank you both for joining us. and he let me come to you first. blaming inflation entirely on pandemic leaves a lot out. for example it leaves out the fed printing money to buy up all the government debt that is issued with deficit spending. it leaves out the role of the biden administration on so many things involving the supply chain. involving killing our energy independence that has led a lot to the rising gas and oil prices. it leaves out, for example, all the rules that rewarded people for staying at home. how would you define or
characterize the role of the pandemic defended the biden administration policies with inflation problem. >> this is not a surprise, last spring with the biden administration is considering $1.9 trillion spending spree on top of the 5.3 trillion that weird he spent. even larry summers, said don't do this. this will set inflation on fire. don't do it. a set inflation on fire. he was not the only person saying it, he said it, i said it, steve moore, jason, for everybody setting. this is going to cause inflation. it did cause inflation. now they want to go back and say that wasn't really it. people were foretelling the future, this is very obvious what was going to happen. we would've had a little inflation coming out of the pandemic. people needed to get back to work. we needed to get the economy back in gear. the reality is the biden administration had done nothing.
we would be in so much better shape than we are today. david: you look at the number one issue, economic issue that concerns americans right now. overwhelmingly it's inflation. the problem of rising prices. so much of what this administration has done. let's start with energy we lost her energy independence. in less than a year the biden administration we lost that role and now the foreigners are setting the prices again. you don't have to go much further than a lack of energy independence to see where inflation begins. >> of course everything is contributing to that. as andy pointed out is not just all the spending causing the inflation. it's a continued spending as we look at the potential build back broke and build back better. without having any energy independence. we have abundant energy resources, they need to be reliable as well. we also have inflation that affects everyone in terms of
energy. when you think about the price of gas going up, were relying on our foreign entities for gas again without having energy independence. that caused the consumer money and businesses more money. it cost the government more money to operate in more money to operate our military. all the costco up with a raise taxes the cost of doing government and business for example. your see in this way around. i don't see an end in sight. we don't see an end in sight as we rounded the complete alphabet of what the variants are going to be. we've got to learn to live with this in a safe and responsible way but not incentivize people to stay at home and not continue to have a dynamic and labor force which is the problem. we have supply chain issues, raising prices. we talk about specifics, we did surveys into a district. 90% of the businesses that responded to our surveys, there were many that responded, they
said they had problems in supply chain, problems of the cost including the cost of gas because their shipping, trucking and everything else. 80% of our constituents responded saying their thanksgiving cost more. everything is costing more. we have proof of that inner district in upstate new york. david: the key to the supply-chain problem is really the labor shortage. you don't have people around to take stuff off the ships very often they don't have enough of a crew. it starts with the 11 million unfilled jobs problem that we have in the administration added fuel to that fire and making it rewarding people for staying at home. now by the way they also added more fuel to the fire with lumber from canada. maybe there would be a good time for that in the future now your pain triple or quadruple with the price of lumber.
>> this administrations policies absolutely no sense. when the jobs report comes out and it's obvious that the problem is not enough workers, too many jobs. joe biden says i have this great plan build back better will create a bunch of jobs and create a bunch of programs that encourage people to stay at home. this is his solution for not enough people to work. all he does with his solution is exacerbate the problem. we have a real problem in this country with people not getting back in the labor force. labor force participation is very low. that's a number to pay attention to in the labor force participation rate that is driving inflation out and it may drive the employment rate down but people are not working. these policies are absurd it's almost hard to address them. david: we gotta go, what do woke policies have to do with the
federal reserve. we keep hearing how the federal reserve has to be involved in woke policies, climate change, et cetera. they had two mandates one is an unemployment mandate. this post to keep unemployment down. the other is a mandate for security for currency to maintain the value of our currency. those are the only two mandates. how does a woke business fit in. >> is supposed to be subjective and independent agency. what elizabeth warren and others are threatening this will not be an independent agency. it'll be looking at these issues in an objective way, woke is him is going to be interfering with the mission of the fed. particular with an organization like this, it's supposed to be independent and not interfered with government and government politics. david: if you think inflation is bad now just wait until the fed becomes a woke institution rather than doing what it's supposed to do. thank you very much for being here. bitcoin foundation chairman
brock pierce on crypto currency going mainstream. not just for an vesting but people also getting paid with it. could regulation spoil the party? you are watching "the evening edit" on fox business. get decision tech. for insights on when to buy and sell. and proactive alerts on market events. that's decision tech. only from fidelity. ♪ that's decision tech. [laughing and giggling] (woman) hey dad. miss us? (vo) reflect on the past, celebrate the future. season's greetings from audi.
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shortage of coins hitting the market, people could be seeing it used in their daily lives. let's go to kelli o'grady in los angeles with more on this. >> the alert live in the cool factor as well as wanting to get on the ground for the next big thing. companies are calculating on that. it will be named the crypto.com arena. people even want to get paid in bitcoin. superstar athletes like aaron rodgers and odell beckham junior are taking portions or all of their salary in bitcoin. one republic is a major music artist to be paid in crypto and alive gig. and eric adams wants his first three paychecks in bitcoin. it helps the average investors get confidence that the currency is credible. the general public has a lot of questions. it's which bitcoin is the most popular. it's decentralized. all the transaction data is
stored, and makes a very secure and hard to control with no one source managing, no exchange rates or inflationary concerns. some critics question whether the endorsement harmed the average investor. others say there's opportunity, as long as you educate yourself. >> the strategy behind the investment in this space is to treat it as an educational opportunity. as much as you invest teaching yourself about something like paying for class or program or course. that is what you would put into alternative things. >> celebrities have made their money and afford to put on the risk. i feel the average investor there is opportunity but you have to take on the volatility. david: thank you very much. there are now concerns of a more regulation coming in for crypto currency. is it the place for investors to turn, what can it mean for the average investor.
bitcoin foundation chairman brock pierce. when and how will bc crypto's replacing currency in the world? >> i'm not sure about replacement. what were releasing is a parallel system. yet the old economy in the new economy and the question is where do people vote with their wallets and feet. i don't believe were gonna be seen the old economy or the currency or the financial institutions of the world disappearing anytime soon. that would be a likely very distant future. how were these things going to coexist it's a right way to think about it. the opening was fantastic, great explanation and a good reminder. i never encouraged anyone to invest in these things other than their own education. you go out and buy $20, $100
worth of this stuff, nft, miami, you go in by an nft for $5. you not making a financial investment, your investing in your own education in your own knowing and you can make informed decisions for yourself. that was wonderful fantastic advice. some of the things i heard from the media yet. david: it sounds like a stock investment rather than a wholesale currency that people would use as an exchange rate. the key to currency, i want to make sure the money i earned today is going to be worth the same tomorrow. there is so much volatility, sometimes in the upside but sometimes in the downside. there's so much volatility with crypto's by that definition it doesn't fit currency. >> it is more of a value or digital asset or commodity then is a currency. as a tool for exchange of a small payment, that is not what people are using it for.
there is not concern of the state of the financial system in the trillion dollars that of been printed and everything else that people are looking for safe havens and alternative investments. real estate is doing well as a result of that. the stock market as well. this is one area where people are flocking to a place of potential safety. today is not that they weren't acting as a currency but the data we start doing that i believe is coming. it's not the too distant future but not as a replacement or a parallel system. david: you only have 15 seconds, in the end china is trying to ban crypto entirely. do you think that they can? >> that was the best thing that happened to the united states. china's dominance in bitcoin was my biggest concern. they completely fumbled the ball, america was a very distant second and our first place in the world. it's important as we go through this revolution the american stays on top as the capital of innovation. i'm so happy to see what china
did. david: brock pierce, i like your take, i appreciate it. you could go to foxbusiness.com for real-time crypto currency data. we have it there on the website. one more reason to visit the site. retailers force to beef up security as smash and grab a tax break out all over the country weak on crime policies to blame. coming up next former national security official kt mcfarland on growing global conflicts. president zelensky says a coup has been uncovered set to take place in the next couple of days. the kremlin denies the role but they've done that before. tensions between china and taiwan continue. is the u.s. ready for these possible conflicts. keep it right here on "the evening edit". ♪ ♪
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media world multiple reports that cnn chris cuomo has been suspended indefinitely pending further investigation. we will keep you posted on the developing story. more foreign-policy chaos for the biden administration. we've all been looking to china's poking of taiwan. the president of ukraine volodymyr zelensky intel agencies have uncovered a plot to overthrow his government says it involves a russian group who even tried to rope in ukraine's richest man. former deputy national security advisor kt mcfarland. great to see you. thank you for being here. do you believe zelensky he claims it could happen as early as tomorrow. >> i don't know there's a specific who and i don't necessarily know that i believe him but i think russia is getting ready to make a move. they met their troops on the ukraine border and russians have
got vladimir putin talks about ukraine and they think is part of russia and always should've been part of russia. they're so mad about the iron curtain and ukraine getting its dependence. it's been eyeing ukraine for a long time and they're looking now at this moment because russia holds that hand over germany the rest of the european energy because of nord stream two. if russia makes a move the germans won't make any noise, nobody will make noise because putin will take off their heating fuel oil for the winter. they will not do anything. will the biden administration do anything, doubted the probably issue a strong statement. if i putin and look at the series of events and were president biden i seen the afghan withdrawal in their lipid response on a number of national security issues. if i'm putin i'm ready to make my move this winter. david: this is a classical soviet move putin grew up as a kb g agent re-create an internal
problem, whether you're talking hungry, they did it in hungary and czechoslovakia and 68 and you create an internal problem and send the troops in to help the internal problems. it does follow the classic soviet tradition. >> that's why i think there's quite a bad stuff going on and ukraine on the eastern border with russia to start with. a coup, some threat to the national, gives the russians a terrific excuse to say we've got a going to restore order. david: what happens if the chinese does plan out in the chinese look at it and there's thousands of miles away when they figure this administration has trouble with one foreign-policy problem. if we going to taiwan and we do something else that we've been threatening to do. there's no way that they're going to stop us.
>> is a classic one-two punch, the russians and chinese, we have worried for 50 years about the russians and chinese getting together. that's why we try to separate them. the reagan administration, the nixon administration. i think the worry now that they're in each other's arms and you have a marriage of russian military equipment and russian natural resources and chinese technology and money. that's a lethal combination. let's say putin makes a move against ukraine this winter. what is beijing do, they're looking at that and saying wait a minute we boys wanted taiwan and we've been pretty clear that were capable of doing a military action. i think that beijing makes its move after the beijing olympics in february. david: how things have changed in just a year. good to see you. retail expert burt flickinger. holiday shopping a black friday
and cyber monday. we'll find out what the numbers are and how the rest of the shopping season is looking as we deal with rising inflation in the supply chain crisis. later this hour retailers force to beef up security smash and grab a tax break out all over the country. how much more of businesses can take before they pack up and leave.
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more human way to healthcare. david: cyber monday sales falling for the first time ever in history read online sales dropping 1.4% from last year. still today remains the largest online shopping day of the year so. >> foot traffic still not back to pre-pandemic days while the number of black friday shoppers did increase by 47% compared to last year, 2020 the numbers was still 28% behind the blowout traffic of 2019. joining me now strategic resource group managing director
burt flickinger, great to see you. you really are the expert. when you absorb all of this and digest all of this information did you think it's a good season so far or were you disappointed? >> i was disappointed but on our fox business forecast we predicted black friday would be a bust and cyber monday would be disappointing, that's what it is and goldman sachs pointed out that any increases we are seeing this year adjusted for inflation mean the retail trends are completely negative. cyber and in-store. big concerns going into the christmas season and into next year to. david: foot traffic is one thing, sales is another. our consumers so shocked at the high prices that they see that they go in and they fail to make
the deal? >> definitely sticker shock. the director there of consumer retail practice said over 75% of consumers are concerned with price and over 50% of consumers would buy less because the price gouging and by the branded companies in inflated prices and shopping centers back those numbers up this afternoon. david: you used a dirty world and the world of markets which is price gouging. politicians particularly in this environment when there's so much anti-private sector stuff going out and a lot of the rhetoric, they will use that word price gouging to impose price controls or something like that. do you really think there was price gouging, not on the retail level but the brand-name level? >> definitely it's twofold price
gouging. one price increases and to take it away price allowances and deeper discounts which adds another dime on every dollar of sales. consumers must have items must pay 15 - 20 cents more on every dollar of sale that they did prior year in 2020 and 2019. >> when you think of the supply chain problems in the inflation that the manufacturers had to make our day forced to raise prices? >> the not forced to raise prices. it's idiotic or c. on the part of government there was no supply chain problems 12 months ago and parted the brand manufactures when i was at procter & gamble the director manufacturing literally died debating not to close the major manufacturing plants did the densely populated cities. they ignored them and put the
plants in the middle of nowhere. png is a leader everybody copy p&g, no backup inventory or raw materials or packing materials, no bottles or cardboard for cases. just complete wipeout and institutionally inexcusable. david: as you know the president was supposed to make a statement after meeting with retailers yesterday. yesterday he did not and he supposedly put it off until tomorrow. do you think he will be talking about this. >> he'll be talking about a buddies missing president eisenhower's page from 1959 for the steel strike between the union and the employers. they need to get all the dynamic union leaders. sean o'brien the dynamic charismatic new president has replaced jim hoffa junior. mark correll from the ufcw. tom crosby from the rw ds and the ufcw with the retailers and the distributors and the
shippers. it isn't going unreported, they're charging attention charges for product that can be picked up by the truckers or the retailers. that is institutionally inexcusable. >> one thing i think is inexcusable they would lead shortages. if they don't make enough of a profit to stay in business. if we have price control on top of the shortages that we already have, god help us all. >> david quick constructive solution. no price control is on shoring of the u.s. manufacturing like asics and mississippi, under armour and baltimore and forget about nike outsourcing and people's republic of china. >> always a pleasure to see you. cabinet next republic and strategist ford o'connell on
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smash and grab a tax break out over the country, retailers beefing up their own security as holiday shopping extender high gear over the black friday we can, routers for all over the country often without a crop site. madison has more on retailers and shoppers preparing. >> security is top of mind with smash and grab robberies on the rise across the u.s. stores are seeing coordinated strategic attacks. earlier this month, ten to 15 suspects smashed their way into the store stealing around $80000 worth of goods in a matter of minutes. this weekend hundreds of thousands of dollars of goods were taken from stores around the country. all of this leading to changes in the way retailers think about safety. >> is an uptick in hiring security companies to protect their assets and make sure customers and employees are safe and keep the cost down.
>> it's not enough to just hire security officers. retailers are building store plans. making security more visible, adding security cameras and gates that go inside glass doors to add another layer of protection. with the holiday shopping is far from over, there's concern there could be more smash and grab attacks so if you're in a store when it occurs, do not intervene and just observe as much as possible. that is the safest way to help. >> unbelievable. joining us now, report and strategist and fox news contributor ford oh, . great to see your. i want to play a little sound from former house speaker and rich, what he says about the political cost. >> prime is going to be a bigger issue because it threatens all of us. you see flash mobs that rushing to stores, 80 people semi- organized looting of store, i suspect people will say they want prosecutors to prosecute.
they want policeman who police and they are tired of being told simply for the criminal has to be greater sympathy for the innocent. >> that is the definition of civilization. it's not asking too much, is it? >> he is right. there is a pandemic of retail looting plaguing the nation and the reason this is occurring in blue run cities is because of defined police and soft on crime bail reform measures pushed by progressive's. i worked in a couple of d.a. offices and i will tell you, when you do not hold criminals accountable, you're only going to get more crime and progressives seem to have to learn the lesson everything will time they push dumb public safety measures. >> the poster child what you're talking about is the waukesha mask sticker the perpetrator not crime of course was, had run
over the mother of his children with the same car he used for the massacre itself and he was let out with the thousand dollar bail. i have a feeling we're going to see this in some campaign ads in 2022. >> i think are right and it's not just john you are talking about, is the milwaukee district attorney part of the waukesha tragedy. you have 75 roughly speaking, das across the nation controlling north of 50 million in population primarily blue run cities like new york, like san francisco and you are right, eventually a lot of people are not going to take it because public safety is the basic premise of government. >> there are democrat politicians try but we had an election in new york, a former cop going to be our next mayor, he's talking tough on crime.
oakland mayor is saying we have to reverse defined police movements she was in favor of before, is it too late for these people to get on the train sucks. >> i find it humorous the oakland mayor has gone from defined police to refund police i don't believe she's gone the message. as she's looking across the bay at san francisco and realizing district attorney there is about to be recalled instead of learning lessons of her constituents, she is concerned about her own political survivor and that's why. >> they still say guns are the problem, there wasn't a gun used in waukesha. this is a problem of criminals, violent criminals in the street, not my problem of guns. >> that's exactly right. violent criminals will be criminals. when you are soft on crime, it emboldens them and they are not going to worry about the consequences because there are no consequences.
>> inflation and crime, i think those of the to 90% of the issues are in those two issues alone. coming up in 2022, ford, great to see you. thank you for being here, appreciate it. i'm in for elizabeth mcdonald, you're watching the evening edit on foxbusiness. that does it for us, thank you for watching. have a wonderful week -- evening and week. [laughter] ♪♪ kennedy: breaking news tonight chris cuomo is officially on ice. moments ago cnn and definitely suspending the primetime anchor and now he's got to go for good. they want to hold onto whatever is left of their credibility and here's what happened. a damning new report from the new york state ag, this week showing chris cuomo snooping around for his brother, andrew went with sexually harassing subordinates and that's something a so-called journalist wouler