tv Maria Bartiromos Wall Street FOX Business December 5, 2021 10:30am-11:01am EST
ben, your idea? >> bristoly meyers squibb trades at 7 times earnings, betting 2022 will be a better year. >> interesting ideas. to read more check out this edition of barron's.com. don't forget to follow us on twitter @ barron's on-line. that's all for us. we will for you. save america. maria: happy weekend, welcome to the program that analyzes the week that was and helps position you for the week ahead. i'm maria bartiromo. a big miss in the november jobs report and a major market volatility this week. where do things go from here? cases of the omicron variant detected in several states now as biden announced his new covid restrictions for every traveler coming into the country, but what about the illegal migrants
crossing our southern border? senator ron johnson on the hypocrisy of this and more. and standing up to the chinese communist party, the endorsements and career are being put on the line to speak out against the atrocities happening in china. he is calling out the players like lebron james to stop bowing to beijing. my interview with that guest coming up. the markets ended a very volatile week growing concerns over inflation and the cases of omicron variant detected in the united states, much fewer than expected jobs added to the economy in the month of november. the unemployment rate falling much lower than expected while the number of new jobs created came in at 210,000 versus an estimate of 550,000. joining me right now is through the cycle president john lonski and chief workforce analyst joanie biley. great to see you both. thank you very much for being here. john, i want to kick it off with you. does this unemployment report,
is it as bad as the headline number looks? >> i don't think so. you know, we did get this steep decline by the unemployment rate, plus if we look at the household survey, we're looking at a gain of more than 1 million jobs while statement at the same time, the number of people unemployed dropped by half a million. this was not the sign of things to come as far as the smaller than expected increase by payrolls. maria: so you think things are getting better then? >> i still think they are improving. we have far more job openings, than we have people unemployed. i can't help but conclude for the time being that we will have further gains in payrolls that are going to well exceed the 210,000 jobs created in november. maria: yeah, we should point out that both september and october got revised upward, so maybe ultimately november gets revised upward as well. joanie, let's take a look at where the job creation was.
i have to say hotel and leisure has been an area where there's been a lot of growth in jobs, but in november, the number wasn't great. it was way down from october. you are on the front lines of this. where are you seeing job creation and job opportunities right now? >> i'm going to call this report, maria, the supply chain jobs report because most of the job creation, and we see the demand certainly in this area right now was in trade and transportation with almost 50,000 jobs being created as well as manufacturing, had 31,000. and that number would have been stronger if motor vehicles and parts could fix the supply chain problem and be able to get more of the parts, the chips that they need to produce more vehicles. but there is a tremendous demand right now in logistics,
transportation, construction was very strong at 31,000. it was concerning to see retail lost 20,000 jobs, but i think that also speaks to e-commerce and supply chain, how people are shopping and buying on-line. maria: yeah. for sure. people are now getting afraid to even go into the stores because of these robberies that we're seeing, the so called smash-and-grab robberies that are being a factor for brick and mortar. wages were up. what would you say about wages overall? >> yeah, so wages are definitely moving up. hourly wages, specifically, you know for drivers, our business at pro drivers is up 18% year over year and our logistics and our manufacturing in our core business, we're seeing hourly wages up 20% over november last year and actually up 25% over
2019. so that's the fierce competition for talent and employers are having to pay more to really attract and retain the workers today. maria: well, maybe but john lonski, even though earn up in november, and they are creeping higher, it is being zapped by the inflation. let's face it. we're paying 50% more for the price of gasoline. 20% more for eggs, meat and chicken. this week fed chief powell said it is time to retire the word transitory. >> you're exactly right, maria. the month of october, the cpi is up by more than 6%, yet we have wages growing by less than 5%. november was the eighth straight month for which the rate of inflation outran the rate of wage growth. and the longer this persists, the greater is the danger of a
pronounced slowdown by real consumer spending. you know what? we got some hints of that from the surveys that were taken of consumer spending over the thanksgiving day holiday weekend. they came in under expectations. for one thing, we found that the number of people going to shopping malls has yet to return to where it was during the holiday shopping season of 2019 or just prior to the arrival of covid. maria: i see, okay. well, it's great to talk with you both about all of this. thank you very much. we'll talk soon. president biden announcing new sweeping policies to protect against the spread of the omicron variant for people flying into the country, but what about all of those thousands of migrants crossing over the border illegally? we are at almost 2 million apprehensions this year. apprehensions this year. we'll hear from wisconsin ♪♪ care. it has the power to change the way we see things.
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>> all in bound international travelers must test within one day of departure, regardless of their vaccination status or nationality. >> maria: there's president biden this week announcing new travel restrictions on everybody flying into the united states expected to begin on monday. no matter what your nationality or vaccination status is. this in hopes of stopping the spread of the omicron variant that has now been detected in several states. but listen to this. >> what about people who don't take a plane and just these border crossers that are coming in huge numbers >> this is a different issue. there is testing at the border under certain circumstances. >> maria: i have been to the border three times, el paso, mccowan and del rio, i can tell you for sure most of the people coming in are not being tested. joining me right now is wisconsin senator john johnson.
-- ron johnson. it is great to see you. thanks for being here. you have visited the border and seen the disaster it is. your take on what we're talking about this weekend, more restrictions on travel because of this omicron variant as well as the hypocrisy of no testing or very little limited testing for migrants breaking into the country and coming crossing over the border. >> well, obviously that's completely hypocritical, but that's kind of the definition of president biden and democrats in terms of their governance. i would ask you and your listeners, all of our response to covid, directed by people like anthony fauci, has it worked? we have 785,000 deaths. i just checked john hopkins math. about the same number of deaths under this administration, and they have had the vaccine versus the previous administration, and of course the blunder throughout this is we have completely ignored using cheap generic repurposed drugs.
there's literally many of them available to treat this disease early. we still send people home afraid, alone, tell them to do nothing until you get to the hospital. and then we offer remdesivir which by the way under the vaers deaths reported remdesivir. the fda is trashing ivermectin and pushing more boosters. the response to covid has been insane and unfortunately it hasn't worked. >> maria: why does the administration not recommend things that are easily available like something like an ivermectin which has been on the
market for a long time treating similar symptoms or like you just said remdesivir? pfizer is going to make 90 plus billion. they are going to generate 93 billion dollars in revenue on these vaccines in the coming year. this is really enriching these pharma companies. how come we're not using the drugs that are already on the market? >> because there's not much money to make in them. when you have the faucis of the world demanding double blind random control trials, those are expensive. and so it tilts the playing field in favor of new novel expensive drugs. of course that's where we're finally getting way too late in the process. they're dusting off a couple molecules they had on their shelves, both the merck and pfizer, 18, 19, 20 months too late. i hope they work. but again they will have to go through the approval process. we have literally decades worth of experience in terms of safety. again 15 deaths per year is all
ivermectin. 69 deaths per year of hydroxychloroquine. i have talked to doctors and patients. these drugs work. why not give them a shot. >> maria: you heard the president putting travel restrictions in place. if you go to europe right now, they are in massive mode of potential new lockdowns. germany is locking down all unvaccinated citizens. are you worried about new restrictions on this economy? >> listen, we have restricted liberty and freedom far too much, during this pandemic. and again,ly point out, has it worked? -- i will point out, has it worked? it hasn't worked. the horse is out of the barn here. i think we're finding out that the respiratory virus, you cannot stop it the way they are trying to stop it. this just simply hasn't worked, these approaches. >> maria: let me switch gears, senator, and ask you about this latest news that we understand about hunter biden, the president's son had made plans
to meet executives and officials from the serbian government, and he wanted to do investment deals with officials from serbia. we already know that he did lots of money exchanges and deals with chinese officials. there's that one e-mail that we know of that says hunter gets 20% of this new company we'll create in china, and then there will be 10% held by [inaudible] for the big guy, the big guy being joe biden. what about all these conflicts of interest with hunter biden? this story seems to never end. >> well, it should concern every american. unfortunately, except for people like you and fox news, the rest of the media pretty well suppressed and censored, for example, senator grassley and my report laying out all these -- you know, the vast web of financial entanglements of biden inc. including joe biden. we know that joe biden back before the election we know he lied to the american public when he said i e never talked to hunter about his overseas
business. he met with his overseas business partners. we're finding out they had meetings in china. i will tell you one thing, we don't know all -- everything about his entanglements, but the chinese government and the intelligence community knows. i bet you russia knows. how compromised is president biden? i think he's highly compromised. >> maria: that's why we questioned why joe biden never brings up the origins of covid when he speaks of xi jinping. he tiptoes around the dictator of china, and you have to wonder if it's because of all the money he and his family have taken in. we will keep a spotlight on this and talk to you soon about it, senator. thank you very much for being here. >> have a good day. >> maria: senator ron johnson joining us. one person speaking out against the ccp, the center for the boston celtics. he has been a vocal critic of china, while the rest of the nba tiptoes around xi jinping. now he's calling out companies and players like l
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tell your doctor if your crohn's disease symptoms develop or worsen. serious allergic reactions may occur. it's good to be moving on. watch me. move, look, and feel better. ask your rheumatologist about cosentyx. >> maria: welcome back. standing up to the chinese communist party boston celtic center speaking out against atrocities in china as the nba and prominent sports companies move to grow their businesses there. i spoke with the nba star and asked him about his courageous stance on this and becoming a u.s. citizen this week, officially changing his last name to freedom. >> i remember the first time i step in this, you know, country, back in 2009, my only goal was to become, you know, a citizen of this amazing country. and it finally happened. i remember raising up to, you
know, in that ceremony, i was speechless. there was so much emotion, and i was like wow, i cannot believe this is finally happening. just now i can call somewhere home. i'm just part of the greatest nation in the world. i was just super excited. >> maria: how fantastic for you, and enes, you have shown such patriotism. i want to get your take on the issues of the day. the women's tennis association showing as much moral courage as you have shown, standing up to the chinese communist party. the wta announced that it is suspending all tournaments in china because it's not convinced that a tennis star is safe. she accused a senior chinese official of sexual abuse last month, and then she vanished from public view. you've been very vocal standing up to china and nike and even your colleagues in basketball. tell me why. how are you so courageous in this issue and your thoughts on
the women's tennis association? >> you know, about her, while we know that she's alive, everybody knows that she's not safe. she's not free to talk. she's not free to travel. and, you know, china's communist party trying to control the narrative about her. and, you know, so much -- it gives me so much hope and motivation when, you know, the women's tennis association put that comment out there. i feel like every major league in the united states should take notes and take example of what wta is doing. >> maria: you've publicly criticized nike. there's slave labor going on. you've criticized lebron james for their silence on human rights abuses on china. on tuesday you said you would welcome a conversation with lebron to help educate him on the issues. have you heard from him? what kind of pushback have you gotten for all of your outspoken stance on the bad behavior of
the ccp? >> you know, i have not heard from him, and it will be very uncomfortable conversation for him obviously because he's pretty much making millions and millions of dollars from china's communist party. but, you know, someone had to do it. you see there's so many, you know, athletes, so many actors, so many celebrities, rappers, singers are scared to say a word because they care too much about their endorsement deals, their contract association, and, you know, their movie sales and everything, but i feel like, you know, everything that they're trying to get from china's communist party is not more important than morals, values, and, you know, principles. >> maria: that is so wonderful to hear you say that. enes, look, the ccp has been very clear. it wants to overtake the united states as the number one superpower. the origins of covid has not been explained. they refuse to explain what happened. they've covered it up from day
one. and yet, businesses see the 1.4 billion person population as an opportunity. when is this going to end? >> people need to wake up. people need to wake up. that's the number one thing. people need to wake up and speak up because, you know, it's just so sad. you see there are so many people like i said again because of what they can gain from china that's staying silent. >> maria: how much backlash have you gotten? what does your stance coming up with these sneakers stop genocide, slave labor, free the uighurs, your sneakers have gone viral. what can kind of an impact have you seen as a result of your courage? >> i mean, who cares about money? who cares about endorsement deals? when people there are getting gang raped and tortured every day, i mean, this is just unacceptable. you know, i wish and i hope that more people, not just athletes,
but more people who have a platform will join me. obviously the first time i put those shoes on my feet, i remember two gentlemen from the nba came to me and told me that we are begging you, please take them off, and i was like, i'm getting ready for citizenship test, and there's 27 amendments, and my 1st amendment is the greatest amendment ever, you know, freedom of speech, so you cannot take that, you know, amendment from me, and i was like if you're going to fine me, go ahead and fine me. i don't care. and they told me that we're not talking about a fine. we're talking about you might get banned. i'm like just because i'm trying to be a voice that i'm going to get banned? >> maria: enes, what do you want to say about the olympics? what should athletes be thinking about going into the olympics this february 2022 in beijing? >> very clear, first of all, shame on international olympic committee that organizing games in a country where there's genocide happening. shame on them first. the second thing, to all the
athletes out there, it doesn't matter -- all the gold medals in the world that you can win, it is not more important than your morals. it is not more important than being a voice for innocent people. it is not more important than your principles. stand up for what you believe in. >> maria: what incredible moral courage from enes freedom. very different than what we're seeing from so many wall street titans. my thanks to enes kanter freedom. don't go anywhere. more "wall street" right after this. ♪ ♪ remember when no dream was too big? ♪ ♪ and you could fearlessly face the unknown. (kids playing) you still can. ♪ ♪ (blowing dust) when you have a rock you can depend on for life, you'll be unstoppable. that's why over 5,500 companies rely on prudential's retirement
>> maria: welcome back. we've got another big program in the works for next weekend. tune into "wall street" every friday night at 8:00 p.m. eastern right here. i will see you on the fox news channel sunday morning at 10:00 a.m. eastern on sunday morning futures, live on fox news. i've got exclusive interviews with the governor of texas, greg abbott, former hud secretary
dr. ben carson, and senator john kennedy, all live sunday morning on fox news at 10:00. plus right here on fox business, start smart every week day from 6:00 to 9:00 a.m. eastern for mornings with maria right here on fox business. we hope you will start your week days with us. that will do it for us for this weekend. thank you very much for being with me. have a great rest of your weekend. i will see you again next time. this week on the "wall street journal" at large, the omicron variant, yes, it sounds like the title of a science fiction movie or stephen king novel, and to witness the reaction of our political leaders this week, you would think it was indeed some alien germ that had been put at the tip of a meteor headed for earth. our politicians