tv Mornings With Maria Bartiromo FOX Business December 6, 2021 6:00am-9:00am EST
take a moment to appreciate the steel workers who made all that possible. and a whole lot more. people whose efforts yield an essential ingredient to how america works. maria: good monday morning. thank you for joining us. i met maria bartiromo. and it is monday, december 6. your top stories. beijing, bold build up with new reports showing china is looking to build the first permanent military base on the atlantic coast of africa. this is the us said they will be a diplomatic boycott of the 2022 beijing olympic games. we are on the heightened tensions this morning. markets are mixed at this morning indicating a good upward move, dow
jones in the-- up about 100 points. nasdaq is down 114 points right now. next a story after a volatile week last week that ended with all three major indices in the red. dow industrials get about 1% on the week, nasdaq down to and at thirds percent and the s&p 500 lost one and a quarter precent last week. we are watching the price of bitcoin which i took a beating over the weekend and it's now selling 47-- $47000. is it time to buy? european markets with a firmer tone. eurozone showing a gain of 62 points and three quarters of 1%. dax index is higher by 25 and a half. in asia, markets were mostly in lower overnight. korea on the upswing with the others lower.
hang saying it down 1.7% in hong kong. "mornings with maria" is live right now. ♪♪ maria: your morning mover, first at coinbase with the crypto exchange sliding in the premarket. it's down at six and a quarter precent on coinbase global that's following a sharp decline in bitcoin, the digital currency losing more than one fifth of its value saturday falling below $42000. indus-- blaming this on the spread of the omicron variant. last month, it hit an all-time high of $69000. alibaba is on the upside. the company reorganizing its e-commerce team appointing a new cfo.
the ceo said the move is meant to make the company more agile. this is a company that is pretty much dictated by the communist party of china. markets this morning are mixed, as the markets are looking to brush off a mixed week. we have the dow jones of 120, s&p 500 down half a point and laugh-- nasdaq lower by-- goldman sachs is telling clients it now expects gdp for 2022 to come in at 3.8% on a yearly basis, down from earlier 4.2% expectation for gdp noting the new variant could worsen supply shortages and prolonged worker shortages d d d d d people not comfortable with returning to the office because of omicron. joining me now was capital president david powell and joining the conversation all morning long is they can mcdowell and fox news contributor liz peek great to see everyone this morning.
david, kicking things off with you. your assessment of where we are. i know that you were expecting oil prices to go all the way back up to 100. we had interruption of that know what your take on where we are in terms of oil and certainly as the stock market as well. how would you assess the current climate? >> i think with respect to oil, i'm going to be -- omicron has clearly thrown a little bit of a speed bump and a wrench in things. with respect to oil specifically, omicron gives opec plus a fair amount of reason to go ahead and be cautious substantively and in terms of their posture, these are-- vis-à-vis joe biden and other oil consuming nations may need oil from the opec producing countries. a reason to go ahead and push back against them and this may not be there only opportunity. we will see variance throughout the next
months during the winter and those may be good reasons to go ahead and either leave production weight is or even and as you and i have spoken before, maria i think it's a multiyear issue that we are going to deal with in our transition from carbon -based-- or carbon emitting fuel, renewables, which is strong and country policy regarding that, we will have to be prepared for a difficult situation with the price of oil broadly across the world and therefore potentially very high gasoline prices for the next bunch of years. maria: well, it's certainly been having an impact on the broader economy. let's talk crypto for a second. i know you are bullish even though we see these wild moves. what you make of what happened over the weekend? bitcoin losing 17% friday and saturday over the weekend.
>> so, i don't think the saloon can be easily pinned on omicron. i think there are certainly other dynamics going on in the market. you and i both will know from being years and security market here and selling of some sort, sometimes goes ahead and leads to pretty serious volatility. obviously the volatility surrounding crypto currency is to be expected to be a bit more-- a bit stronger, i should say with-- relative to other asset classes. we have seen this volatility before and weekends are always because i would say generally the dearth of straight-- trading activity and we saw good rebound happen. we will see how things go today. i think the low 50000 bitcoin is a very good purchase. i will say, however, ethereum the second largest crypto token by
market value did quite well during the time bitcoin swooned so it's important have i would say somewhat of a diverse portfolio and be able to actively manage that portfolio because after we saw the highs of bitcoin may have been a good time to go ahead and take off some of the profitability and then position yourself for pullback like this one. maria: interesting. i like your idea of, look, we will see moves at year end, david. what other markets are you expecting to come under that shakeout or change in investors portfolio because we are at year end? do you think we will see any other impact from that in the coming weeks >> sure. i think the largest gainers in year are the one that will probably see the largest amount of selloff and profit-taking.
in connection with crypto currency, it's been one of the greatest performers over the last two years in terms of percentages, i mean, they are eye-popping in the same thing we have seen with tach. we have seen somewhat in spac there was brought pullback, but a lot of the big gainers, people should be prepared that there is going to be december profit-taking. that's okay. you know, for those taking a longer term outlook and don't need to harvest those profits and prepare themselves tax wise, maybe a very goodbye-- buying opportunity. maria: makes sense. david, good to see you. thanks so much. >> always, happy holidays. maria: and to you, happy holidays. good to catch up. we are just getting started. quick break and coming up tensions rising between the us and china. beijing looking to create a military base in africa on the coast of the atlantic as we
are expecting the us to announce a diplomatic boycott of the 2022 beijing games. we will see what that means. plus, in the next hour we have the cofounder of the carlyle group here with his assessment of the economy, effect of inflation and his new book. so much for backing the blue, san francisco eatery kicks three cops out because employees claim they felt unsafe. we will tell you all about it in the hot topic buzz. you are watching "mornings with maria" live on foxbusiness. ♪♪ ♪ ♪ ♪ ♪ ♪ ♪
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biden administration will reinstate the trump era remained in mexico policy at the border. migraines will be sent back to mexico to wait while their asylum claims are considered with the administration, remember abolish the program in june, but missouri and texas sued the administration arguing it was unconstitutional for the administration to make such a change, that's the role of congress and the supreme court agreed. border sources tell me they believe it when they will see it as they watch the administration blowoff rulings in the past, almost 2 million migrants were apprehended at the southern border and by the end of the fiscal year 2021, a record high with sources saying another 600,000 have gotten away and are in the country undetected, 600,000. starting today all international travelers arriving in the us biplane must provide a negative covid test taken within one day of boarding regardless of the vaccination status of that person as dr. fauci says the
administration is reevaluating the travel ban amid the omicron variant. watch this. >> we all feel very badly about the hardship that might have put upon not only south africa, but the other african countries and for that reason in real time literally on a daily basis we reevaluate that policy. maria: dr. fauci says the band was decided at the time the administration was quote in the dark on the latest covid strain. when they lock down travel from south africa. president biden ordered all us flags to fly at half staff yesterday following the death of longtime gop senator bob dole. he is a world war hero and beloved lawmaker serving the nation for almost 80 years representing kansas as a senator for nearly three decades before running as a republican presidential candidate in 1996. he announced he was diagnosed with stage iv lung cancer in february. he was 98 years old.
rest in peace to bob dole. turning to the push to manufacture in the united states with exes governor greg abbott joining me yesterday on sunday morning futures after announcing samsung will build a $17 billion factory in texas last month. watch. >> the country made a mistake over the past one or two decades to farmout manufacturing of all these essentials supply, semi conductors or whether it's healthcare supplies we needed during the time of covid, whatever the case, we need to not depend upon china or other countries for our essential needs for things like semi conductors and that's why texas is leading the way becoming the home for semi conductors that go into everything people use, not just iphones or laptops or whatever the case may be, also in all of these vehicles are we have manufacturing going on. this last week we announced the rollout of the new toyota tundra in the use semi conductor ships in their, so texas
will be the home of semiconductor manufacturing going forward. maria: texas has become a magnet for innovation and technology. texas instruments investing their tesla moving headquarters to texas as well out of silicon valley. liz peek and dagan mcdowell with me this morning. liz, interesting to see was going on even in the face of president biden's wide-open borders where texas has become really a different place if you look at cities like houston. all of these tech companies announcing moving to texas. your reaction? >> this is something texas has worked hard to do. they are one of the top three states in the country being business friendly. where are these comedies coming from? they are coming from california in large parts. states that her business unfriendly. it's not about mask mandates or anything to do it covid. these are investments that have taken a long time to plan, they are long term by an industry
that desperately needs other sources. one of the things we don't talk about enough is the major source for high-tech semi conductors is taiwan, a country that obviously is in jeopardy. i think it's a wonderful thing for texas. it's a right to work state. again, a state with low taxes, welcoming of new businesses and a model for other states. maria: and i'm glad you mentioned taiwan because dagan, we know that's just one more reason that the chinese communist party wants to invade, acquire taiwan and should that happen, the entire world is impacted if china is in charge of all semiconductor production or dominant force there, another reason why this is important to see this move to texas. dagen: the world is waking up to the threat of china, if right to our way of life. in terms of texas, texas is going to be struggling, though, too short its electricity
grid with all the businesses moving into the state particularly with texas becoming a bitcoin mining hub that the bitcoin minors are moving into the state and there was one stat that came out a couple weeks ago that the bitcoin minors alone are said to-- they will require enough electricity, i think like 5000 megawatts alone, which is the equivalent of all the electricity that the capital city of austin used in all of 2020, and this is becoming ted cruz is weighed in on it they are planning that bitcoin minors will shore up the electricity grid, but this, i don't know if the leadership in texas has fully planned for what's going to happen to the grid there with all of these businesses moving in particularly the bitcoin minors.
maria: it's a good point. i have also reportedly mentioned austin where tesla is moving, but i want to mention houston, which is a different city right now. 400,000 additional people in houston and the biggest business there is fake documents, it's one of the bases-- biggest businesses, fake documents because i was going on at the border getaway cars, picking people up at the border and driving them to houston, extraordinary situation relative to what else is going on with the technology boom going on in places like austin. meanwhile, the rise of the omicron continues. the new covid variant spreading in the united states, the data so far shows it's not causing a spike in hospitalizations. we will get into it, maybe the worry is over reaction of omicron plus what's driving business, auto parts supplier say they are facing a tough road ahead. we will take a look at what's causing the pressure, when we come back.
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hospitalizations. doctor patrice harris ceo and founder of emad and former president of the american medical association joins us now. doctor harris, thank you for being here. give us your assessment of what you know about the omicron variant. >> thank you so much for having me, and as you say we don't have all the information. all of the information we have now is early. early insight tells a-- as it might be more transmissible, but i think we need to wait until we have more complete data. in the meantime, we are seeing an increase in hospitalization due to delta delta has not gone away, so we need to stay focused due to things we know work. vaccinations, masking where appropriate, ventilation and certainly testing and testing protocols. it is repetition, but we can do the things that we know work to minimize spread of the delta variant and be ready and be prepared for the omicron variant to.
maria: so, the number of confirmed cases jumping back to over 100,000 for the first time in two months. what are your thoughts on the way the reaction has been to this new variant as well as where we are in covid right now? are we doing what you think we should be doing >> i think certainly all of us are on high alert. there's a little bit of that fatigue when we see information about a new variant. it should raise a red flag. it should cause us to prepare, though, and did not panic. we need to be able to see put the variant. we knew certainly even before we saw the first case that it was likely already here because when there is an outbreak anywhere there's an outbreak everywhere. we have seen the first identified cases. there will be more. again, that's all the more reason to make sure
that we are medicating the virus with layers of mitigation that are necessary. i continue to-- you mentioned on the ceo and founder of emad and we enable at home testing, but testing has been a critical piece and in some times during the pandemic we forget about the importance of testing so that the public health can identify outbreaks really so businesses can stay open, so schools can open you mentioned the travel requirements as testing has enabled us to continue to travel , so we continue to need to do the things that we know are good public health mitigation measures a. maria: doctor ben carson joined me yesterday, former neurosurgeon. travel restrictions begin today for international travelers that they have to ensure that they have shown a
negative test. here's doctor carson from yesterday. watch this. >> it's a natural phenomenon for viruses to do that, so the fact that we discovered another variation is not cause for great alarm. now, obviously we need to be concerned about the coronavirus and its variations and we need to continue to take appropriate precautions, but we don't need to go crazy. maria: doctor harris, you are at home tests have been so important. are you working on any other variation of those tests? what kind of demand have you seen in terms of people wanting to take these tests at home? >> the ability to take these tests at home is a game changer. i was just in atlanta a couple days ago and unfortunately i saw the long lines of people in their cars waiting for tests just as i saw early in the pandemic,
and that really means an important tool in the toolbox is testing at home before you go out and infect others, before you risk becoming infected. yes, this virus, as i have said, it's an a+ on doing what viruses do and that's mutating so we have to make sure we have our a game shortly testing and at home testing is a critical piece of that a game. maria: we will leave it there. doctor patrice harris, thank you for being here. we will catch up soon. thanks very much for your time. china flexing its military might once again as tensions between the united states and beijing remain high. we will talk to general keith kellogg when we come back and then kicked out for being a cop, one san francisco restaurant has a peculiar reason for telling the boys in blue to get lost. it's a hot topic buzz this morning. stay with us
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maria: welcome back. good monday morning. i met maria bartiromo and it is monday, december 6. looking at markets, futures or show a strong rally underway for the dow jones. dow jones up 173, half of a percent higher in s&p 500 up seven and a quarter, nasdaq lower by 76. starting the new week after a volatile one last week with all the major indices finishing in the red last week with the biggest mover the nasdaq, which was down four and a quarter precent on the week last week. dow industrials down three and half percent on the week and the s&p 500 also lower by three and a half percent last week european markets are in the green this morning. eurozone shows a gain of 59, dax index higher by 41. in asia overnight markets finish mostly lower with china's central bank cutting the
ratio for banks overnight in an effort to support the economy. we were expecting central bank of china to cut rates. nikkei average and the shanghai composite week or by a fraction hong kong market was the worst performer overnight down one and three quarters percent. we are watching bitcoin after taking a beating over the weekend. now, just over $47000 after bitcoin sold off 17% saturday. new developments this morning and the michigan school shooting investigation. cheryl has the details. cheryl: good morning. police say a person of interest who allegedly harbored within crumley's parents could face charges as law enforcement found the couple in a detroit basement after they seemingly disappeared friday. on saturday james and jennifer crumbly or charged with four counts of involuntary manslaughter as their son is accused of killing four people and injuring seven others in a school shooting spree that happened last week. oakland county sheriff
telling news outlets neither parents have shown any kind of remorse in jail. all of this as the high school announces a third party will conduct an investigation into the school's actions before the shooting. chris cuomo is out at cnn. the anchor reportedly fired after sexual misconduct allegation against him came to light in the dismissal following intense scrutiny of him over his attempt to use his position to help his brother, former governor andrew cuomo navigate his own sexual misconduct allegation and cnn president initially stood by cuomo before the latest accusations came out. according to cuomo issuing a statement denying the recent sexual misconduct allegations. the "wall street journal" is reporting new york-based hedge fund edge in capital pressured to consider either a sale or separation from its online business in the effort to boost it the stock price. looking in the stock in the free market is higher than more than 2%
in the free market with engine capital believing they are a private equity firms that would pay $75 a share, this following a similar incident with saks fifth avenue. despite disruptions caused by the global ship shortage 2021 a good year for the auto industry with tight inventory car buyers are record sums for new cars leading dealerships to post healthy earnings, but not everyone feels about love as auto parts suppliers a delivery delays and canceled orders along with soaring costs are putting more pressure on them. all of this along with the global ship shortage -- ship shortage. maria: thank you. happening in texas, that's for sure as we look at china looking to build its first permanent military base on the atlantic ocean with essential african
country of guinea. according to the "wall street journal" the white house and the pentagon urging the small african country to reject the proposal warning a naval facility where china can rearm with munitions and repair naval vessels will pose a threat to the world. joining me right now is fox news contributor general keith kellogg. great to have you this morning. thanks for being here. assess the threat from china particularly with this new information that they want a military base right on the atlantic ocean in africa. >> maria, thanks for having me. china is an average hit-- adversary by every definition of the world, economic, cultural, military adversary and this proves it. they are thinking strategically looking at both sides of africa. recently they built a base in djibouti giving them the capability to control access to the suez canal.
they build up a base and then when the country can't pay for it they take the base over and then they have full control. they just did that for uganda where they built at the airport. uganda could not pay for it now they own the airport and they are doing the same thing in the panama canal where they control the shipping alliance east and west by port facilities and now they are doing it in west africa. they have a real strategic method to what they are doing. steve townson is the commander of african command and he's not an alarmist and when he brought up the issue about them building a base it should raise concerns from the united states of america. they have a plan and this is a strategic plan and they have an aggressive plan of building forces forward to make military forces in the atlantic and the pacific and give them not just regional dominance, but global dominance. maria: that's absolutely right and i have reported about the basin djibouti many times and in fact they followed the united
states in terms of building the -- after the us had a basin djibouti. obviously our adversaries are smelling weakness. you have this call that will happen tomorrow between joe biden and russian president vladimir putin, they will speak tomorrow as russia has been building its military-- i'm sorry its military forces along the border of ukraine. your thoughts? do you expect russia to invade ukraine anytime soon? >> well, look you are correct, not only smell it, they feel it, they touch and they see weakness in the us. this call will not go well. when biden first called vladimir putin at the end of january he was very aggressive in his call and vladimir putin has seen this before. he's been through four presidents and he knows how presidents react. he talked to blackmer pruden 18 times when i was in the white house and he respects-- he knows what happens when
respect is forced upon him and he saw that when we killed russian mercenaries in syria, when we went after soul money and he understood that. i don't think biden will get a deal out of this at all. biden will make comments and vladimir putin will listen and then do what he wants to do. he has given the entire world a redline and told us do not let ukraine become a member of nato. i guarantee you if we make efforts to bring ukraine into nato then russia will react. he looks at this as part of his territory much like china forces the issue with taiwan as well, so this is a very serious issue and i candidly-- i'm not sure this president is up to it. maria: i mean, exactly. look, these are adversaries. the question has to be come by now, why are we worried about taiwan now, why are we worried
about ukraine now and the answer is they smell weakness. louisiana senator john kennedy joined me yesterday on sunday morning futures and here's what he is saying joe biden needs to do right now. watch this. >> weakness, russia won't invade if president biden and congress make it clear that there will be serious consequences if russia does. what the president needs to do tomorrow, tomorrow is sanction and award-- north stream pipeline. if you do that, we will get-- we will get russia down and then we can choke them. maria: general, what are the odds this comes up with biden's call with vladimir putin, will he sanction the north stream? >> yeah, well he should. that's what we did in the trump administration because we saw it was a real weakness, but here's what else biden needs to do, he needs to
pick up the phone and call nato allies and our friends in europe and say this is in your backyard. you have a major interest here and you need to push forward on building up your military capacity. put a german brigade in their old polish brigade in there or a check brigade, show force out there. i used to laugh at the reasons why the germans rearmed and when they did always concerned the russians is germans always seem to march east. germans are not putting forth enough effort in the defense. they are only paying 1.2% gdp in the defense and yet they have promised america and the promise nato they would put 2% gdp in and they are pushing the north stream to pipeline and they will get 80% of liquid natural gas through russia, so, i mean, it's a huge european issue so biden not only needs to push vladimir putin, he needs to push all the alliance and the european union in europe as well to contribute more to
ukraine. maria: general, you know as well as i do that but it's not doing any of that and he's not putting pressure and he actually allowed the north stream and russia to send gas and oil to europe and the same with china. what about this diplomatic boycott of the olympics? so what? i mean, the world watch the pcp march into hong kong and start throwing fighters in jail and ripping up the place. the world has been watching the sea-- pcp bully their neighbors and that child salina c. what is joe biden doing about china? nothing. >> there's three major threats we face in the world right now. one is russia, the other is china, china taiwan and the wrong nuclear deal when we are missing out on all three. we are pushing the envelope. maria: we are begging them to do a deal. general, i hope you come back soon. there's a lot to talk about and we need to get
into it. to communicate this to our audience. general keith kellogg, thank you for your service and join us. we will keep watching all of this. quick break and then remain in mexico is back , we believe after the supreme court forced the administration say it. former acting ice director will weigh in next. he question whether or not the administration would blow off the supreme court or not. we will find out where he is and then goldman sachs gp warning, the bitcoin blues and why it's time to put your money into hard assets. don't forget to turn into foxbusiness prime tonight, "how america works" starts at 8:00 p.m. eastern followed by american belt with stuart varney at nine. you are watching "mornings with maria" right now live on foxbusiness. ♪♪ it inspires us to go further. ♪♪ it has our back.
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maria: welcome back. happening today the biden administration will reinstate the trumpet year it remained mexico policy, but they say with the changes. migrants will be given time to consult with a us-based lawyer before being sent back. vaccines will also be given out with the administration claiming the category of migrants except from this program will expand in the us has committed to
wrapping up asylum cases within six months and provide shelter and transportation to and from hearings. joining me right now is former acting i.c.e. director, a fox news contributor, tom homan. great to see you and thanks for being here pick we have talked about the issue before and we have both said it's unconstitutional for the administration to say you are going to do away with remaining mexico and ask something for congress to do in the supreme court agreed, but even then you question whether or not this administration will in fact reinstate remaining mexico. do you believe they will >> i question if they will do it effectively. i think they are still going is slow as process. this isn't rocket science. it's been done before. we have to dust off the plans that were already very successful and reinstitute them, but they have waited months. i don't think they will started.
let's remember when they lost the case, what did they do, they appealed the decision so they didn't have to secure the border. remaining mexico, let's be clear it was a game changer. that was the biggest thing that trump administration put in place driving immigration to a 35 year low. what really concerns-- first about, under the trump administration we had opportunity-- they are playing a game with talking points, but really concerns me is part of the new program. they are still releasing thousands into the us with no vaccination so it's almost like mexico -- we don't have the same concern for us citizens. it's ridiculous. biden administration
about being forced to take one step forward, but they take two steps back. why would you take and vaccinate those going back to mexico and not those coming into the united states. maria: you make such an important point. it's ridiculous. i spoke with the governor of texas yesterday, greg abbott, and he broke news telling us firsthand what he is seeing at the border and where the testing is and where it is. listen to what the governor said. >> what i can tell you for a fact is most of the people come across the border but not all of them, are not being tested. the point is this, the president and the biden administration they have two standards, if you pay money to come into the us lawfully, you have to be tested. however, if you come into the country illegally, you don't have to be tested. as you know the numbers, there's been more than a million people who have come across the border illegally that we know of this year, most old
home have not been tested. maria: tom, it's so backwards. you just said this, that they want to give covid tests to people going back to mexico, but not the people who they are bringing into this country. you have information for us this morning pick you say sources say some of the covid positive illegal migrants have criminal histories and they are being released from processing centers. what can you tell us that first of all, governor abbott is a patriot. i have joined his office with lawsuits and we are three and a zero and we have more to win. look, i had some call me that he was disgusted. one agent said it concerns him that we arrest someone covid positive, but because the leadership-- even though there were medical rooms to take
care of these people, he said we released them. despite the fact he had a conviction for murder. this is the type of people the biden administration is releasing into the united states because they would rather release them even those with conviction for murder. this is beyond pale and needs a congressional investigation. maria: quick before you go, tom, how about the story i broke a couple of weeks ago about what's happening in houston, 400,000 new people in houston because they have these getaway cars that the cartels do deals with people to have a getaway car and they take people from the border to houston and then one of the biggest businesses exploding is this fake document business in houston. it's as if the administration doesn't care about citizens. houston is a completely different city today than just two years ago. >> that's a great point. remember the biden administration, this is
not about securing the border, they have also decapitated i.c.e. they would investigate organizations for fraudulent documents and that smuggled people in it, but i.c.e. has pretty much been told you are no longer to arrest anyone coming into the country illegally, that was in writing. it's not enough to be here illegally for i.c.e. to arrest you, so i.c.e. has been decapitated. maria: unbelievable dear tom, good to catch up with you. please come back soon. we will take a break and when we come back, one san francisco restaurant getting slammed this morning for kicking out the cops. the apology not going far enough. we are on it next hey google. ♪ ♪ ♪
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maria: welcome back. time for the hot topic buzz. a san francisco restaurant under fire this morning for refusing to serve armed police officers. the restaurant, hilda and jessie's asked three officers to leave because staff members said that they felt uncomfortable with the presence of their multiple weapons. this after negative yelp reviews flooded the restaurant's page, first they had all a of these negative reviews flooding the restaurant's page so the owners came back and they put out a statement, saying that they made a mistake and they you you apologized for the incident and
would be happy to welcome the officers off duty. dagen mcdowell put this in context for us. knowing what's going on right now in san francisco, in terms of the crime and these officers who are on the front lines of that crime go into this restaurant and this is the treatment that they get. dagen: i wonder who they're going to call if this restaurant was ever held up at gunpoint by a bunch of criminals. so it's okay for criminals to carry guns but not the police officers who are trying to protect the law abiding citizens and residents of that city. this is part of the dangerous delusion from the left that has overtaken the entire country where they don't believe in law enforcement. so good luck to them if they're ever the victim of a robbery. it's just insanity. unfortunately, it's spread across the nation. maria: it really is insanity and we will continue talking
about it this morning. we've got a lot coming up. cnn's chris cuomo officially out as anchor. we'll tell you all about it starting right now. ♪ maria: good morning, i'm maria bartiromo. it is monday, december 6th. your top stories right now, 7:0. a return to trump era border policies, the biden administration reinstating remain in mexico policy today, keeping asylum seekers out of the united states until their court date. markets this morning are higher, we are at the highs of the morning with a strong triple digit move. the dow industrials up 266 points, the s&p 500 up 19, the nasdaq is lower, down 32 after a volatile week last week that ended with all three major indices finishing in the red, a sharp decline on the week for the major indices with the nasdaq down better than 4% on the week and the s&p and dow
down about 3 and-a-half percent. we're watching the price of bitcoin this morning, plunging over the weekend, down 17% on saturday. the cryptocurrency now hovering around $48,000. markets in europe this morning are higher. take a look. the eurozone indices are pretty much showing double digit gains across the board, ft 100 up 70, cac up 56, dax index higher by 76 right now. in asia overnight, markets finished mostly lower, hong kong was the worst performer, hang seng down almost 2% and china's central bank cutting the reserve ratio for banks overnight in an effort to support its economy. "mornings with maria" is live right now. china looking to build its first permanent military base on the atlantic ocean in a central african country. the white house and pentagon are urging the small african country to reject china's proposal, warning a naval facility where
china can rearm with munitions and repair naval vessels will pose a significant threat. officials are unsure if its diplomatic outreach will have a positive effect on the outcome. the biden administration reportedly set to announce a diplomatic boycott of the 2022 beijing olympics, the announcement p could come as soon as this week. a di blow -- a diplomatic boycott allows american athletes to compete in the games. here's what enes kanter told us yesterday. >> what do you want to say to other athletes headed to beijing for the olympics in february. >> shame on them. you know, all the gold medals in the world is not more important than your values and principles. maria: this as tensions continue to he grow between the united states and china including china's human rights abuses and aggression towards taiwan, not to mention bullying its neighbors in the south china
he sea. also starting today, international travelers arriving in the u.s. by plane must provide a negative covid test taken within one day of boarding regardless of vaccination status. dr. anthony fauci says the administration is re-evaluating travel bans amid the omicron variant because we are looking at the omicron less worrisome than initially. watch this. >> we all feel very badly about the hardship that might have put upon not only south africa but the other african countries, for that reason, real-time literally on a daily basis we're re-evaluating that policy. maria: the they feel very bad. wow. fauci said the ban was decided at a time when the administration was in the dark on the latest covid strain. why are we making major decisions when we're in the dark on the covid strain. time for the word on wall street, top investors watching your money. joining me now is chief strategist, katherine rooney
vera, global fixed income portfolio manager, jack mcintire and michael lee strategy founder, michael lee. great to see everybody. happy monday to you. thank you so much for being here. michael, bitcoin, what a weekend. plunging better than 20% over the weekend. i think it was down 17% on saturday alone. down another 5% this morning. hitting the lowest point in months. your take on what's going on with crypto? >> so bitcoin is a very volatile asset. one of the reasons for that is the bitcoin futures, there's a ton of leverage involved. if you buy s&p 500 futures, you're levered somewhere around 20 times. bitcoin futures are closer to 50. so when you have that much leverage, the price is going to move a lot more volatile than, say, other comparable assets. what happened with bitcoin is every time you hit a new high as we did a few weeks ago, you get a lot of new entrants to the market so the larger players in the market use the advantage too
their advantage, pushing it down so they acquire more. these pullbacks on the ways to new highs are very typical of this asset. so this is something i added to over the weekend, but i wouldn't expect this volatility with bitcoin to stop any time soon. i'll remind everybody, with bitcoin, you either believe this is real or it's not. it's almost binary. if you believe bitcoin is real, it's based on the fact that fiat currency is becoming less and less critical by the way. do you believe central banks are going to stop printing money or do you believe it's going to continue. if you believe it's going to continue and you believe bitcoin is going to be here for a while, as do some of the largest pools of money in the world, 0.72 capital, rail dalio said he's had money put in there as well as elon musk, jack dorsey with square, and countless other companies are out there with this. so i would clear -- i'm a bull
on bitcoin. i add a small amount over the week med. everyday investors, i recommend putting in money you can afford to lose. i think the best days for bitcoin are ahead of it, not behind it. maria: do you only like bitcoin or do you want a portfolio of crypto. what about ethereum. >> ethereum is my biggest holding. i'm more bullish on the technology there. i dab he -- id a bble in small amounts. my core holdings are bitcoin and ethereum. maria: maybe you're picking the wrong teams, you ever think of that, mike? i'm just kidding you. [laughter] maria: katherine -- >> i definitely am, maria. maria: goldman is cutting the forecast for gdp for next year, they're gone to 3.8%. as you know, they're citing the omicron variant. you say it's time to put your
money in hard assets like gold, real estate, even art, katherine. walk us through this because are you expecting a selloff in stocks and you're looking for places to hide in real assets? >> yes, important to maintain a portion of your portfolio that does well in a stagflationary scenario, that's something we need to consider for the next 12 to 18 months, maybe a little further. the point is inflation is not entirely temporary in nature. we have a fiscal impulse and a wage price viral impulse that are pushing the demand side so it's not just the supply constraints emanating from bottlenecks in the supply chain. and we think the fed is really treading a dangerous line with regard to keeping rates so low, for such an extended period of time. now this omicron, the issue with omicron is it could push
interest rate hikes even further down the line and that we think is a real threat to what at this point is very, very euphoric levels in the market. so inflation is our biggest risk going into next year, still a pretty strong pace of economic expansion. i see it even less, 3 to 3 and-a-half percent. and that's because consumption is likely to already have seen its biggest boost coming off of the reopening trades and ex as a baited by the steps that -- exacerbated by the higher inflation rates have on the purchasing power of the average consumer. cons. maria: if we were to see a selloff in stocks, thaws not mean we will see valuation in real estate. >> real hard assets and bitcoin as mike was talking it's really
an inflation hedge. maria: that would be better. >> it's an inflation hedge. i think that inflation is persistent in nature and it will get uglier before it gets better. my contention is the fed is behind the curve. we're protecting ourselves against inflation than a massive selloff in stocks. maria: i'm astoppedded where interest rates -- astownded where interest rates are. the 10 year treasury at 1.38% this morning. these rates are so low, even as we know the federal reserve is going to be moving rates higher sooner rather than later, we're up 4 basis points at 1.395% on the 10 year. your take on this move? >> well, maria, do we know that the fed is going to be taking rates higher? we know they're going to taper asset purchases and they're going to accelerate it. they gave us evidence of that. we're in kind of a funky period because it's a quiet period. we're not going to hear from the fed until the fomc meeting on
the 15th. being a bond guy, i'm kind of looking at equity markets right now. if the equity market continues to correct, we have so much wealth had tied into equities in this country, that will be a tightening of financial conditions right now. we know the fed is starting to tighten monetary conditions as well. i think the bond market is saying maybe we are at peak inflation right now and we're going to sort of go from this recovery to expansion and maybe the expansion phase is going to be bumpier next year. maria: yeah. it's great insight. to look at what the stock market is telling you about where things go in the future, we've got goldman sachs lowering estimates on gdp and the yield in the 10 year up almost 4 basis points. great conversation, everybody. thanks you. katherine, jack and a michael lee, always good to catch up. much more ahead this morning. chris cuomo fired, the fallout is coming up. now that he faces new
allegations of sexual misconduct. and then the carlisle group co-founder david rubenstein is here with his take on the economy, where sees investment opportunities. we'll talk about his new book and the issue of the day around china. and then innovation, robots hired at record rates amid the nationwide labor shortage. how your next online order could be filled with new tech. joining the conversation all morning long, dagen mcdowell and liz peek. we'll get back to this fantastic panel when we come right back. you're watching "mornings with maria" live on fox business.
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cuomo, navigate a sexual harassment scandal. he tweeted after the news, saying this is not how i want my time at cnn to end. but i have already told you why and a how i helped my brother. according to the wall street journal, cnn president jeff zucker was taken by surprise by the ag's report and felt that cuomo misled him. chris cuomo's termination also comes as zucker learned a second persons is accusing chris cuomo of sexual misconduct. cuomo is denying the sexual misconduct allegations but daleen, it seems -- but dagen, it seems like on top of everything regarding the andrew cuomo scandal, to get another allegation of sexual misconduct aimed at chris cuomo, that was the straw that broke the cam he'll's back. what do you think. dagen: i find this whole excuse that cnn is using as very spurious. let me be clear. this is my personal opinion but cnn is saying that chris cuomo was finally let go when these
allegations came out of an you alleged sexual harassment act from abc. chris cuomo hasn't worked at abc for eight years. and this is the final straw according to cnn. not the fact that he was essentially trying to dig up dirt on andy cuomo's accusers. they let this go on. we found out, the public, last spring in may that chris cuomo was advising his brother and participated in strategy sessions with his brother's aides and advisors and chris cuomo said at the time i'm family first, job second. you should have been job done back then when zucker found this out. i would guess and this is a complete guess on my part, that there's enough pressure on jeff zucker and jeff zucker is worried about his own
reputation. he doesn't care about chris cuomo anymore. he's only concerned -- there must be enough heat coming from within cnn from the women, all the women who work there, that he finally had to say oh, okay i need to worry about myself rather than protecting this ghoul who he kept on the air and let him bring his brother on the air when there were elderly people in body bags outside of nursing homes because of said governor but they were yucking it up with these swabs on the air. so who does jeff zucker really care about? not your audience. not the women. not the dead relatives of all these elderly people who andy cuomo killed. he cares about himself. that's the only reason chris cuomo hit the bricks. maria: and there could have been heat coming from the incoming owners, discovery network, john malone, the largest shareholder there saying they want cnn to go back to news because, liz, i said this last week. this is not in my view a chris
cuomo story. this is a cnn story. they have had no regard whatsoever for the truth, for the past five years. it's not just the bro show and the swabs that we were looking at that jeff zucker allowed this bro show to go on during covid. it's also the fact that they went on the air, the first network to go on the air with the steele dossier, jake tapper, and they were going with this nonsense of russia collusion, nonstop, throughout the trump presidency. so they have had no regard for truth whatsoever. liz: i think you both are correct. cnn has embarrassed it seven nor musely and this entire cuomo story is the tip of the iceberg. to me, i think that the breaking point for chris cuomo was when he went after the sources who were posting allegations against his brother and tried to slime their reputations, et cetera. that crossed a line. i think cuomo had to go after that and a i kind of agree with
dagen. clearly, cnn is kind of looking for an excuse to get rid of him but high time and by the way, it's an expensive decision for cnn. this is one of their top producers but i think he had to go and really cnn took much too long in raining this whole fiasco in. maria: all right. we'll be right back with more. stay with us. ♪ ♪ ♪ ♪ ♪ ♪
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maria: welcome back. new york city mayor bill de blasio opened the country's first supervised drug injection site last week. the mayor claimed it's an effective way to fight the opioid crisis. parents are not happy that one of the shooting galleries in east harlem sits right across the street from a day-care center. joining me now is nicole mall ne malliotakis. thank you for being here. what do you make of this? >> it's completely outrageous. what kind of sick person puts a community center for heroin addicts to go and shoot up, giving them free needles to do so, right next to a children's organization and on a block
where there are five schools surrounding it. by my count, at least five schools are in a two radius of this center. this is a mayor who is continuously defying the laws of our land, whether it be a sanctuary city status, whether it be releasing criminals back out on the streets, now of he wants to violate the controlled substances act which i wrote to the department of justice last week asking the attorney general to step in. in 2018, president trump's doj gave me a commitment that if the mayor proceeded they would intervene. that's what merrick garland needs to do here because of violation of federal law, up to 20 years in jail, $2 million in fines and the mayor is just out of control here, leaving us with this type of parting gift on his way out the door. maria: well, yeah, i mean, i don't understand why this would be the answer. i mean, we've had 100,000 overdoses because of fentanyl
coming into this country. this administration is doing nothing about the fentanyl so new york's answer is to help these drug addicts shoot up across the street from a day-care center? i mean, it's outrageous. >> that's exactly right. and you've done extensive coverage of what exactly has been coming into the country. we know, the dea is telling us that it's chemicals from china being manufactured as fentanyl in mexico and streaming over our border. last week i gave a floor speech on just this issue and i asked my colleagues and the president of the united states whose side are you on, are you on the side of the drug cartels or the american people? we know where it's coming from and you're not doing anything to stop it. so yes, this is very reactionary from our mayor and by the way, who has continuously released drug dealers back into the streets and new york bail laws continuously putting drug dealers back into our streets. maria: well, what about your
colleague, alexandria ocasio-cortez, now questioning whether or not these organized retail crime situations are actually happening. she told the washington times a lot of these allegations of organized retail theft are not actually panning out. we're looking at the video of what's going on in san francisco and in la. what are your thoughts on what aoc is saying about these smash and grab thefts that we're seeing in an organized fashion across the country? she's saying it's not happening. >> you know, sometimes when i'm in new york city in my district and hear what my colleagues, bill de blasio and aoc, also from new york city say, i sometimes think i'm on another planet. are they serious? they see the videos of this happening. both of them said people who commit crimes, they're bread winners for their families. giving them a defense that this is okay. look, it's the bail laws, it's the defunding the police movement, it's all of that and that is why i go to washington, i send that message that we
can't do what we've done in new york in washington. we should be doing -- we shouldn't do what's taking place in california either. it's not working. we need to support law enforcement, we need real law and order. we need to get bail laws back on the books, continue to give judges some discretion here. they have to start taking these things seriously. they're destroying the quality of life in cities all across america. maria: yeah. but look, when you're talking about how bad the policies are of your colleagues on the left and then you go ahead and you vote with them, you're one of 13 republicans who voted nor the infrastructure package, congresswoman. i want to give you an opportunity to explain yourself. it's because of you and 12 of your colleagues that we're here now, expecting higher taxes in 2022. >> that's absolutely not true. that bill is paid for. that bill was paid for. and nearly half of that infrastructure bill goes to roads, bridges and highways.
an aging city like new york city needs the infrastructure investment. the other half goes to ports, airports, it goes to coastal resiliency. my district was slammed by hurricane sandy, it was slammed during ida because we didn't have an adequate sewer system. it's one time where a vote on a bipartisan bill for something my district truly needs. that's what tax dollars are supposed to go to, actual infrastructure. our leaders have neglected it for decades. i think it's a good bill. maria: you don't think you saved your colleagues? if you didn't vote for that and your colleagues didn't vote for that, we wouldn't be talking about a reconciliation bill that's to come. >> those are two separate bills and actually what i think, you see the reconciliation. maria: doesn't matter. .>> you see it on life support because we've taken away aoc's leverage. when i'm on the opposite side of aoc and the squad i think i'm doing a good job for the people of my district. new york gets 10% of the funding, out of 50 states.
it's a good bill for new york city. i don't know how aoc voted against it. we're 100% committed against the reconciliation bill. that's where the irs agents are, that's where the amnesty is, that's where all the stuff we don't like is and right now you're seeing it hanging on from a thread. maria: all right. we'll see if it goes through. nicole malliotakis, thanks very much for answering the questions and we'll see you soon. >> thank you. maria: thank you so much. we'll be right back. >> appreciate it. ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪
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maria: welcome back. president biden ordering all u.s. flags to fly at half staff this week in honor of long time gop senator bob dole. cheryl casone with details now. cheryl: maria a, senator dole was a world war ii hero and beloved law miker, serving the nation -- lawmaker, serving the nation for almost 80 years. he ran as the republican presidential candidate in 1996.
he ran for president three times during his career. dole announced he was diagnosed with stage 4 lung cancer in february. he is survived by his wife, elizabeth. he was 98 years old. well, president trump's social media start-up announcing it secured $1 billion in new investment as part of ongoing efforts to become a publicly traded company. trump media and technology group announced the plan back in october. the new enterprise will be in operation by the first quarter of 2022. plans to launch a social media company, truth social, soon after that. and finally, the kansas city chiefs extending the winning streak to five games, beating the broncos, 22-9. tom brady showing four touchdowns as the bucs defeat the atlanta a falcons, 20-17. the la chargers blowing out the cincinnati bengals, 41-22 and the detroit lions getting their first win of the season in dramatic fashion, they defeat
the vikings 29-27. by the way, the lions organization dedicating their win to the michigan community rocked by last week's deadly school shooting. both teams wearing stickers on their helmets in honor of those victims. those are some of your headlines. back to you. maria: all right, cheryl, thank you so much. goldman sachs is cutting its forecast for gdp for 2022. the firm citing the omicron variant. goldman tells clients it seems gdp to come in at 3.8% on a full year basis, that's down from the earlier expectation of 4 and a quarter percent. the firm noteing that the new variant could worsen supply shortages and prolong worker shortages due to people not being comfortable returning to the office because of the omicron. joining us now, co-executive chairman of the carlisle group, author of the book, the american experiment, david rubenstein is here. thank you so much for being with me. >> thank you for having me,
maria. maria: first, let's talk about the book. why did you write the american experiment. i know what a patriot you are and you detail all of the experiments that our founding fathers put into place and how it's played out. what was most important for you? >> well, the idea of having a representative democracy created out of whole cloth was a novel concept in the world, it had never been done before. many of the founding fathers didn't think it would last more than 20 years. thomas jefferson didn't think it would last very long. it has lasted almost 250 years. it was an experiment, as we know, it had many flaws in i we had slavery, didn't allow women to vote, a lot of people didn't have the right to do things they wanted to do under our constitution. they thought they had certain rights but turns out we didn't really let them get certain things done. we've been experimenting over the years, how to make this democracy work much better. we've done well compared to what people thought probably at the beginning but we still have things to do.
maria: i think the book is great, in terms of walking the people through why this experiment is so important. when you look around the world and look at other approaches, we are talking much about china right now as it has been quite vocal about wanting to overtake the united states as the number one super power. the news today in the journal that it's looking to build its first permanent military base on the atlantic coast of africa. the white house and pentagon are urging this small african country to reject this proposal as the biden administration is expected to announce a diplomatic boycott of the upcoming winter olympics in beijing this week. david, you have been a global investor and a global business person. what are your thoughts during these heightened times of tension between the united states and china? >> clearly, the united states and china have disagreements in many areas. it's not uncommon for us to have disagreements with other countries. china is a more competitive
competitor than we've had before. had they compete not just in military but also in economic and technology areas. i don't think it's a good idea to say we're not going to have any relations with china because i don't think that's a way we're going to actually bring us together in some ways but clearly we have to be on our guard. i don't support the idea of not investing in china. i think the chinese should be allowed to invest here. i recognize there are human rights issues we have to address. maria: there are human rights issues but there are other issues when it comes to business, right? you've been invested in companies, no doubt and you've heard stories of theft of intellectual property. we know that this has coughed american companies hundreds of billions of dollars in stolen theft. you've got economic issues as well. how are we going to get the ccp to play by the global rules of the road, david? i mean, that's really the issue, right? and when you say investing in chinese companies, are you
worried about the potential for actually funding the expansion of the ccp? i recognize this has been 50 year project, try to get the ccp to a place where they may open up their markets as they're doing with financial services and today it's a different ccp, though than it was 40 years ago as i believe it's more inward, xi jinping modeling himself over mau. >> if i had the answer to that i would have been in iowa, new hampshire a long time ago. there's no easy answer to those questions. the issue is, are we going to hide from china and not engage with them. the theory of diplomacy, if you engage with people, at some point you make progress. intellectual theft is a problem for sure. we're trying to address it. it's not an easy answer for anybody but i don't think it's a good idea to put our head in the sand and say china, we're not going to engage with you. hopefully if we engage with them at some point we'll make some progress. we have to recognize there are
much more complicated competitor than we've ever had before. they're so large, the population is so large and their economy is so large. suppose we have eliminated trading with china, would that be good for the united states? i don't think so. maria: what are the other issues, economically, that you're looking at, david? obviously we talk every day about the spike in inflation, about the changes to come at the federal reserve in terms of policy. what strikes you most right now in terms of the macro story, david? >> the biggest issues i think we have to worry about in terms of the economy are number one, how severe is the omicron variant going to be, is it going to bring us into the situation we had for last year or so or are we basically going to be able to work our way through this in a reasonable way. number two, is inflation going to be enduring, is it going to be 6% on an annualized basis for a long time or maybe get back to something closer to 2 to 3%. third, when are the interest rates going to go up? everybody knows the fed is going
to increase interest rates at some point. when is that going to occur? we don't know. and what type of package are we going to he get out of congress? if the president's legislative package goes through it probably will stimulate the economy somewhat. it may have an inflationary impact, nobody knows for sure in terms of how it will be paid for. those are the issues, when are the interest rates going to be higher, what will the president's package going to be, was what is inflation going to be and what is omicron going to do to the economy. maria: those are important issues that will impact all of us. without giving away any secrets, can you tell us how your meeting was over thanksgiving with president biden? >> well, i was not there. the president stayed at a home i have in nantucket. he stayed there before when he was vice president. and he gathers his family in nantucket and he used my place before, as i mentioned but he was there. i did see him last night at the
kennedy center many we had kennedy center honors in washington. we paid tribute to bob dole and newt gingrich was one of my guests there. i would say with respect to the president, he had a good weekend, a good time in nantucket. i didn't talk to him much more about what he did. i think he and his family had an enjoyable time. maria: i love talking with you all the time. i know what a patriot you are. and we talked in the past about your incredibly impressive collection of historical documents which you purchased and loan to museums including copies of the constitution, the magna carta. how did you get interested in this, david, tell us more about your collection, the importance of owning and collecting these historical documents? it's so impressive that you have these and that you're willing to loan them to museum as well. >> well, the theory is that if people see historic documents, maybe they'll be interested to learn more about the history of those documents.
you can see what's on the text of the magna carta by looking at a computer slide. if you go to the national archives where i lent the magna carta, you're going to have a better experience and learn more about it. my theory is we need to learn more about our history, civics and government because we have relative low knowledge factor in this country. i own copies of the declaration of independence, 13th ameantment, they're on display so americans can see them. i got into it by happenstance. i heard the magna carta a would be sold, i heard it would leave the united states. this is the only copy in private hands, the only copy that was likely to be in the united states so i bought it to make sure we keep one copy of the magna carta here. it was the inspiration for the declaration of independence. that's why i did it. now i built a reasonable hey good size collection and put them in places around the united states where people can see them. the constitution center, mt. vernon, smithsonian, places like
that. maria: i love it. how incredible were our founding fathers to come up with this incredible experiment that is america. david, were you surprised to see old meets new recently when you had crypto traders trying to buy the constitution and then ken griffin, john simm actually beats them and acquires it. you saw that auction, right? >> yes. ken bid more than i was prepared to pay. he's a very good custodian for it. he's putting it on display in a museum, in arkansas initially. he and i have put some things together in another building in chicago. i've lent documents, he's lent some art. now he might be in the document world. i don't know. but it's a very impressive document that he purchased for sure. it's one of the few remaining copies of the first printing of the constitution. maria: wow. amazing. david, it's great to catch up with you.
thanks so much for joining me this morning. >> my pleasure. thank you, maria. maria: all right. we'll see you soon. david rubenstein joining us. quick break and then classic cars are big business. we talk with the ceo of ensure haggerty, he's coming up. tune into fox business prime tonight, how america works with mike rowe starts at 8:00 p.m. eastern followed by american built with stuart varney at 9:00. you're watching "mornings with maria" live on fox business. ♪ ♪ ♪
maria: welcome back. the big business of insuring classic cars, haggerty shares climbing in its debut on friday, while this morning we're looking at the stock pulled back from a 46% rally on day one. the specialist automotive insurance company closed the day up better than 46%. today they will ring the opening bell at the new york stock exchange. joining me right now is haggerty ceo mchale haggerty. congratulations to you. very exciting day and week for you. tell me about ringing the opening bell and what you're expecting from the company in terms of growth in the coming years. >> thanks for having me. it's really special to be here. great backdrop at the nyse with some great cars behind us and what we've been seeing for the last several years is incredible
growth in the interest in driving fun cars. because people who really love cars, they don't know any boundaries with how they like to enjoy them. it's not about getting from point a to point b. and that's what haggerty is all about is we take care of those cars and we help kind of validate the love of the automobile out there. so we've been growing a lot which is one of the reasons why we went public and we're seeing a lot of growth out into the future. it's really been a special time and you're right, it's a pretty special day. maria: well, we've been talking about inflation a lot on this program whether it be from gas line prices to groceries. i want to look at insurance. when you look at insurance and all related insurance whether it's auto, home, specifically the insurance companies are also seeing serious inflation. i see that premiums are going up. what can you tell us about insurance from your standpoint in terms of premium and inflation? >> yeah, we're definitely seeing
a lot of that type of movement in the big kind of standard property casualty market out there. people talk about shortages in the hospitality industry, there have been catastrophic events in the last several years that affected premiums. what's incredible about this collector vintage enthusiast space is how stable it is. people take really good care of these cars. it's kind of a special place in the insurance world where there are things that are valuable but the pricing and results remain very, very stable. so we see what's going on out there but we've been relatively unaffected. maria: i see. so where do you see the growth in your business in the coming five years? >> well, what was interesting is during covid when people were spending so much time at home, not commute, not doing daily driving in a normal way, the interest in fun cars actually really, really went up. we saw people out there buying cars for fun, just like you saw
people going camping or going boating and all of those sorts of things and we see this momentum really going forward. we're also launching a number of very large partnerships with big insurance companies to start bringing more fun cars into our world. so we're really confident about the future of the fun automotive space. it's a fun place to be. maria: i bet. tell me who your competition is. i mean, you've got a growth story in place. who do you see as catching up? >> well, what's interesting is there are over 43 million vehicles of this type, maybe not exactly like this one, but 43 million vehicles in north america that fall into this category and the bulk of those vehicles are insured by the big insurance companies. one of our approaches wag to partner with big insurance companies and say these are special clients, they love these cars, they have special needs when things go wrong with them
and we partnered with them and we kind of manage that little piece of that business, that tiny slice of it. so it's not so much about how we compete, it's about how we collaborate and partner and we count among our partners many of the largest insurance companies that are out there. we're launching a new partnership for example with state farm in 2022 which will be huge new partnership with us and they're one of the largest automotive insurers out there so big growth ahead and we're worried about how we can partner, than how we compete. maria: great. well, we love looking at those classic cars. congrats to you. we'll be watching you ring the opening bell this morning. thank you very much, mchale haggerty joining us this morning. >> exciting day. maria: outside the new york stock exchange. quick break and then retirement before high school graduation, what? how one entrepreneur is cashing in at such a young age. we'll tell you all about it. wait until you hear this story in the morning's hot topic buzz.
accessories more than 200,000 dollars products in one month ventures estimated to earn 21 million dollars next decade her mom says she can retire at 15 years old. >> makes it looked like already retired -- i think this is an amazing story good for her, but honestly she is just one of gazillion number of young women really in this case forge their businesses, going out on their own it is a real big trend that i have become, aware of because my involvement with particular school here in new york. i think very exciting, terrific for woman. dagen: she will learn about market saturation. >> and taxes. >> all right coming up top technology to being picks next hour right here "mornings with
maria" begins right now. good monday morning i am maria bartiromo monday december 6 top stories right now 8:00 a.m. on the east coast. beijing's bold buildup new reports showing that china is looking to build its permanent military base on africa atlantic coast as u.s. says there will be a diplomatic boycott of the 22 beijing olympic games on the heightened tensions all morning long market rallying dow industrials down highs of morning gain better than 200 points the s&p 500 up 12 nasdaq negative, down -- we are watching the price of bitcoin after volatile weekend, bitcoin now climbing back towards 49,000 after touching 42000 over the weekend, 17% sell-off on saturday alone, is it time to get in or not? european markets this morning
in green take a look at firmer tone eurozone ft 100 higher by 70 cac quarante up 60 points dax higher by 84, in asia overnight market finished mostly lower chinese central bank cutting reserve ratio for banks, this was expected in market is effort to support the china economy. "mornings with maria" is live right now. . . >> morning movers, lucent group electric carmaker sliding after announcing received a subpoena from securities and exchange commission seeking documents related to investigation, on its plank check deal for details not given, but as you can see investors scrambling to sell stoke dym word confirmation corporation up after president trump social media venture raised more one billion dollars from investors this, acquisition firm, will
help take trump media public lifting in new york will provide up to 293 million dollars, to that partnership, all this ahead of the launch of true social, that is president trump's new social media app latchinging few weeks from day digital world stock up 8% on raise of money federal reserve looking to end the pandemic era surplus program by march as opposed to june, reports of sluggish job growth inflation continuing to spike among reasons, this opens the door to raising interest rates in the first half of 2022 rather than second joining me u.s. bank wealth management chief investment officer eric friedman, dagen mcdowell, liz peek eric thanks for joining the conversation your reaction to what we are hearing out of federal reserve rates going higher, sooner, does this impact the stock market as well in your view? >> maria we think it will impact the stock market we think a little too early, and
premature for federal reserve to start right now we think there are a couple things to keep in mind, we just don't have all information we need there has been i would say spotty information back-and-forth, about how contagious how severe how vaccines to combat it point two the market is okay with federal reserve raising rates they can't raise rates, that high the reason for that maria is because markets are concerned about how strong, this economy is on its own, fed has been involved, of course, for many, many years, but we do think the fed has to really be pretty market responseive to interest rates if we see overreaction by potentially coming by fed. maria: what is your idea on macro story goldman sachs yesterday lowered expectation for growth, the gdp expectation coming down at goldman citing specifically
omicron variant uncertainty. we were at higher levels in terms of expectation for the third quarter gdp in an today 2% or so. are things slowing down. >> our economists glass half full i think that there is some good momentum particularly in the u.s., as well as in parts of japan, asia concluding china of course mixed picture, but bottom line we think consumers are starting to spend again, the key thing for us maria will we see more participation in the labor market we just haven't seen that last friday's report was really lack lack lister seasonality, bottom line we need more people to workforce, also into higher-paying jobs, so that is less of a swing factor we are optimistic we think probably second half next year phenomena but optimistic, on economic growth predominantly because of strength by commerce as well as small business activity picking up next year.
maria: eric i i will get back to china in a moment tell us how you want to allocate capital how you are allocating capital, the small-cap stocks are under projector now russell 2000 index dropped 7 1/2% since thanksgiving, on news of this omicron variant losers pharmaceuticals biotech, after will a leadership sector, for so long, what is going on with small tech stocks right now? >> yeah, we see blairs in tran ches we any opportunity to add we probably stage out a couple, important dates, wednesday next week, when as you have been reporting we hear more from fed point number one.two, is how busy the legislative activity is into year-end possibly first second week of january we think time to look at events then, we think mid-cap stocks maria tend to be really
unloved under followed, are great places for investors to look at. so seconds very favorable right now consumer discretionary industries have been beat unup have not seen value. longer term yes, sir plus two years out technology health care in the good positions we allocate capital but not to all at once there is data points we can't want to see probably more agitation we want to respect before getting too aggressive. >> globally? you mentioned legislative calendar they need to deal with debt limit with the national defense authorization bill, mbaa an issue china, what do you think about china right now would you put investor money in chinese companies. >> we would be cautious on china right now maria we are
really under weight china versus benchmark the reason because there is a lack of what is happening lack of -- property market we look at the potential risks heading into a really active year for xi jinping, for his next couple terms, as china premier. bottom line we think the tends, in terms of consumer activity are attractive but, those trends probably through u.s. liquid companies, areas we still think is priority for investors would be u.s. first, followed by, europe on weakness, we put china back, at these points here. maria: all right. we will leave it there great to catch up with you thanks so much for joining us eric friedman on allocating capital we will see you soon thank you quick break coming up walking back on a woke america, former
cke restaurant ceo is here to discuss corporations and more turnover on capitol hill vice president kamala harris seeing staffers walk out the door. we will get to it when we come back also the talk around big tech experts here to tell you where to invest how to make most of your money don't miss it. you are watching with maria" live on fox business. ♪♪ . forever, ♪♪ -- pp ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪
to mexico while await their asylum and considered the administration abolished this in june missouri texas sued administration saying it was unconstitutional. for the administration to change such laws that is the roll of congress supreme court ruled to reinstate policy as well border sources tell me they will believe it when they see it watched the administration blow off these rulings in the past. almost two million migrants handy at southern border this-year record high sources tell me another 600,000 migrants have gotten away illegally now in country, undefected, president biden vladimir putin to talk tomorrow to discuss ukraine more than 40,000 russian troops believed amassed year ukrainian border russia has been building, its military on the border of ukraine senator john kennedy spoke with me on
"sunday morning futures" about this issue. >> weakness invites wolves russia won't invaded if president biden congress make it clear there will be serious consequences if russia does, what president needs to do tomorrow, tomorrow, is sanction the nordstrom 2 pipeline. if you do that, we will get china we will get russia down, and then we can choke them. maria: two ladders also expected to talk about the implementation of agreements that they discussed at the geneva summit in june president will manage climate subject its priority. exodus of staff members from kamala harris's office continues this morning with new reports of frustration, burnout as resignations stag up in her office staffers reportedly afraid off o bng b to elinke lto td to tto v vic ent,idhe r tor sayhes
agen dent wentto youyo mahiestateseptattt they reey are oaidd kama al gen:da aone ouonete ote fmro thmeorme staffererithal kala tha po uputututith coco aunt o sl sl cocoenid y areou acac acof nt sor propping up up a yy n n nealleale wh -ost spo s toeoe associsoci withit the t vice ic presenes in west wing, actually talked to gill duran former democratic strategy aid to harris quit after five months working for her 2013 a direct quote from him, who are the next talented people you are going to bring in and burn through then have them pretebd they are retiring for positive reasons? again, the common denominator to paraphrase what is said it is her, she is never ready for
this job didn't make it to first voting contest, in the run for the democratic nomination, and she is trying to blame anybody and everybody for her failures as vice president. liz: this isn't new 0-year history people leaving her employ because of bullying creating a toxic office environment. so, look. i think the pressure is more than ever been all tends in the past raised questions about management style, and her personality, and her leadership capability are now on steroids. because there is a lot of pressure, and she has not performed well on any of the tasks she has been given this is really a problem even "the washington post" to dagen's point writing about it questioning whether you he know her ambitions under
threat i think they are. >> biden was going to try to name her to sprept to get her out of the way? >> supreme court to get her out of the way. >> i think an interesting idea, i am sure the biden people looking back, would love to have made another choice. but he booked himself in a corner said the he wanted a black woman list was you know four, five candidates she was the best known, the person who best could help his campaign it was a huge mistake. >> should have been karen bass. >> i would agree with that. >>. dagen: karen bass or val demings former police chief how incredible in hindsight. maria: what happens in 2024 are they going to push pete buttigieg. dagen: maybe seems flavor of the moment but, depends on how that goes nowhere to be found during the supply chain
crisis, i know he was on paternity leave women on paternity leave work remotely. he couldn't do that? >> people don't even know at this point. maria: could be we will break when we come back inflation hotter than ever a closer look looking at robots getting hired record rates the new way companies adjust to labor shortage this holiday we take you to a facility in chicago. to show you more. next, on "mornings with maria." . as a dj, i know all about customization. that's why i love liberty mutual. they customize my car insurance, so i only pay for what i need. how about a throwback? ♪ liberty, liberty, liberty, liberty ♪ only pay for what you need. ♪ liberty, liberty, liberty, liberty ♪ ♪ ♪ ♪
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inflation the hot-button issue for economy soaring prices, also happening across the world, the u.s. coming in third in percentage change in annual inflation only brazile turkey higher rates of inflation right now as goldman sachs cutting its forecast for u.s. gdp next year fed on track to taper sooner rather than later, joining me right now former council economic advisers acting chairman, at hoover institution of stanford university, great to see you. thanks very much for being here, give your sense of what is stoking inflation right
now. >> well, i think that we had all the supply chain issues of 2020, early 21 couldn't control port closures in china supply chain disruptions on top massive expansion another round of stuf checks 10 months into expansion policyholders by federal government to actively disindisincentivize you add together cfo in demand disincentivizing supply. >> incredibly because of bad policy we are now neck and neck with turkey and brazil, for the worst inflation numbers anybody has ever seen. tyler one issue to me is that once you put higher prices in place it is hard to walk that back, is to how long would you expect these elevated prices
in place that certainly are disappearing . >> brazil history hyperinflation tanking concurrency because a socialist government again turkey president limited any pretense of central bank independence seems of view higher interest rates cause higher inflation, yet here in the united states, used to be the case fed would take the punchbowl away before party bottle rowdy, in 20 1 everyone was completely plastered fed said here is idea let's do a rounder of tequila shots i think you are right it is difficult to rein in inflation expectations once they take off 37 and we have seen inflation expectations longer run inflation expectations rise substantially i see those
persisting well into 2022. maria: what about the federal reserve's impact here? are they going to stop he are they going to begin taper sooner rather than later means higher interest rates sooner rather than later, likely, two rate hikes first half of the year will that put brakes on inflation? what is the impact? >> o markets certainly think it will look at inflation break even since -- secretary powell started indications of faster taper possibility rate hikes in 2022 markets, certainly anticipate that it is going to have a cooling effect. i'm not so convinced, because as we noted, inflation expectations have risen, and you have all these supply chain bottlenecks, increased demand coming stimulus in 2022 with the reconciliation bill. we still have a labor force participation problem 1.8 trillion dollars you
cumulatively short on business investments the bigger picture macro situation points to inflationary prosper i don't know that two rate hikes are going to cut it. maria: all right. we will be watching thanks very much for weighing in on this tyler godspeed joining us on macro story we will see you soon quick break the rise of robots why your next job may be full of human annoid coworkers, top picks for digital space where you should be allocating your money. that is coming up. stay with us. . new projects means new project managers.
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triple-digit rally underway for dow industrials, dow up 222 points right now s&p 500 also positive by 14, it is nasdaq that is the weak spot down right now 45 points, 47 points actually a third of one percent lower on nasdaq we are watching the price of bitcoin, it had a rough weekend, and digital assets down across the board this morning, bitcoin climbing back toward 48320 right now after touching 42000 over the weekend it was down 17% on saturday. european markets higher this morning take a look at the firmendone eurozone ft 100 higher by 78 cac quarante up 65 dax in germany up 102 in asia overnight markets finished mostly lower big news overnight was a china central bank cut rates, they reserve ratio for banks down to support economy shanghai composite down half a percent shg down almost 2% in hong
kong, 17 people boarded regent cruise ship. cheryl: that is right crewsline says passengers are fully vaccinated those are asymptomatic, one person suspected to have omicron variant of the coronavirus the ship to noolz november 28 returned yesterday as scheduled stopped will be ides honduras mexico a look at stock in premarket, right now that stock is fractionally lower ahead of the open the openers of san francisco rant poll jooidzing for denying service to several on duty police officers previously said staff was quote uncomfortable, with the officers being armed in the restaurant after yelp view owners put out instagram saying they handled this badly stopped short of saying whether officers would be
welcome in the future in their restaurant "wall street journal" reporting that new york-based hedge end edging capital pressuring to consider salle or separation of business to boost stock price a look at stock in tree market it is reaction to this news up by more than 4 1/2% moving higher this morning believes private equity firms would pay at least 75 bucks a share, all this saks 5th avenue macy's, president biden ordering u.s. flags at half-staff following death of longtime gop senator bob dole you are looking at live picture right now of white house flag has been lowered. dole was a world war ii hero beloved law enforcement serving the nation almost 80 years, he represented kansas as senator nearly 3 decades before running as republican presidential candidate in 96
dole announced diagnosed with the same four long cancer in 94 was 98, true hero served this is country in amazing fashion back to you. maria: what a legacy cheryl, thank you so much. at the omicron variant taking a stock market on a wild ride since thanksgiving my next guest says there are technology names investors should focus on evercore senior managing director head of internet research author of nothing but luck, great to see you nothing but net great book thanks for writing it i want your take on mega caps uber amazon facebook your thoughts on creating value finding value within tech right now. >> you can find value in tech there is a couple dislocated high quality names -- thrust of book to look for those the high quality names three to mind amazon facebook one uber,
uber may be toughest because faces both headwinds omicron, is -- back -- tampering down mobility going to be hard, but there is a stock that covered most upside on a return to real economy, and also face some risk the other rising interest rates, but just turned profitable, i think they will continue to do that so that there is a lot of upside in that stock. and amazon is one that is in deep investment mode, return on that, next year with same day factor super same-day delivery k facebook i think valuations, attractive a lot of controversy around that means if they address some controversy if they can you could see a rerating in stock upside there. maria: mark you've been studying this sector for so long, right now. you really have been one of the senior analysts in the space who have gotten it right
throughout from the beginning of dot com and beyond what do you see as growth story within technology? for a long time you talked about sort of three-legged stool retail, cloud social media are those three legs to the school? how does that look different in the coming five to 10 years? >> okay. thanks for the you and i both know picking stocks make mistakes i have too in my book i tried to draw lessons from those we've if order if only growth one piece out there metaverse whether that is going to be really the replaceer to desktop, revolution you and i a lot of people lived through last 25 years ago, those were phenomenal trends for consumer tech, for consumer interneted i am skeptical if messers very is that monumental intrigueing
what fb andors are investing in trend i am he watching probably three to five, seven yearsings on growth retail maybe 16%, real sales i think, during pandemic covid crisis i think continuing to grow over time one of the reasons i think amazon has been a core will continue to be the next five or 10 years social media usage relatively mature that is why there is a need for leaders in that space primarily facebook come up with engines of growth, smarter better ways to engage their -- their users, i think they are doing a pretty good job a pretty good track record at least in terms of innovation to date i stick with that management team. maria: i know you like spotify in that space as well. look thank you for that, because it was a great sort of landscape of what is going on right now. i want your take on near-term
urgent issue semiconductor shortage, the investment in texas, texas instruments, is there, samsung build abouting 17-billion-dollar semiconductor factory in texas, governor abbott i want your reaction, watch. >> the country made a mistake over the of the past one or two decades to farm out manufacturing of all supplies, semiconductors or could be health care supplies that we needed during the time of covid whatever the case may be, we need to not depend upon china or other countries, for our essentially needs but things like semiconductors and that is exactly why -- texas is leading the way becoming the home for semiconductors that go into everything people use not just iphone, or laptop whatever the case may be it is all vehicles, we have manufacturing going on, in fact just this last week we
announced, the rollout of the new toyota tunda use semiconductor chips in truck texas will be home of semiconductor manufacturing going forward. maria: wouldn't that be great to have texas somewhere in the united states be home of global semiconductor manufacturing, your thoughts on that. as we do rely on taiwan, and china wants to acquire taiwan, how do you think this plays out what is the impact? . >>. >> well i think he the governor is right, that you better have that manufacturing here. now, you know the reason we have manufacturing overseas for cost reasons, that is what investors like to see. what has changed the shocks two or three years covid part of that political issues, too about being able to get access consistently secured competentes a to taiwan where chips are made probably good strategic reasons i am not sure cost reasons but certainly strategic reasons to bring more manufacturing here
what we have in terms of supply shortage, because covid was a dramatic boost to digitization, everything went digital skyrocketing demand for chips, the supply just couldn't keep up with that, i think i don't know how long you it takes to balance out my guess another year, but anyway, bring back home some manufacturing i can't manufacturing i can't imagine not good it is good for our country. >> your analysis as always spot on congrats on book a must read. >> thank you. maria: mark thank you ma haney joining us, quick break the labor shortage was companies turning to automation to keep up with demand, during the holidays let's go live now, to grady trimble he is at quiet logistics he warehouse in chicago with more on that,
grady. >> hey. good morning maria. here are robots, all lined up these ones are fully stocked with gesture locus bots unloaded here go back out into the warehouse, and that is where human pickers will fill those baskets full of products, brian, is president and coo of quiet logistincompetents operates this warehouse you haven't necessarily laid off workers because robots have come in to do their thing, you increased productivity with sim workforce. >> that is right same workforce with not more because we need to be able to do more units every day, doing that with flentd human workers two times productivity with locus. >> what are humans thinking of working alongside workers you can see robot going by into aisle. >> part of cult we worked with automation from day one associates are trained working with these bots it is important they think of them as coworkers makes their job
easier. >> walk less not pushing carts to and from, the other side of the warehouse. >> very true no pulling heavy carts no full cases, of product walking productively, from robot to robot performing their tasks. maria: maria the future is here you can see in action at this warehouse, more than 100 all across the country, robot hiring, by the way, reached record levels, in in 2021. maria: wow! unbelievable grady great reporting grady trimble in chicago this morning. thank you grady, i like it. it is growth story although certainly taking jobs, coming up one new york family is breaking records this holiday you will never guess us why we've got it for you when we come back, after the short black then don't forget tune into how america works mike rowe 8 pm eastern american built with stuart varney, one of my favorite shows you've
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the etf focused on making money not as many activism the reason resorts rejecting, they agree to speak on issues versus talking about what they do former ceo cke rest rantz andy puzder great to see you announcement you are new skiff chairman board of directors second vote value investment congratulations tell me what second vote value investments is trying to do with new etfs what we with with like to do make it people want to invest really don't want to accomplish political goals like esg goals environmental, social corporate governance but invest to get return on investment trying to come up with vehicles, that will allow them to do that, our investment philosophy companies that focus on profits will be more profitable than companies that don't we are trying to take the politics out of this,
and let people invest consistently with values, and with you are in economic interests. maria: i think a great idea andy especially since, companies like delta air lines coca-cola got involved in the voting laws conversation earlier this year. when joe biden really i don't want to say lied but certainly gave misrepresentations of the voting laws in georgia, and those companies got onboard with that, narrative, only to be wrong, your thoughts on what took place earlier in the year did that affect those companies? >> well certainly affected, for example, coca-cola coca-cola had to back off also, implementing what i call critical race theory hr training lawyer who put that in place ended up resigning from the company after ras must rasmussen poll said 37%
americans less likely to apply coke products because of positions on voting rights critical race theory, training hr issues having impact, on coca-cola i would love to have been at board meeting ceo had to walk in with that poll saying 37% americans less likely to apply coke products i think consumers can react do react, but ovn you don't have a choice delta air lines only so many to get from place to place what we're trying to do is hit from investment side, they are already companies already getting a lot of pressure, from the esg investment firms like blackrock state street vanguard to take on activist progressive issues instead of focusing on profits of we want to give people the punt to invest have influence but keep focus on returns for shareholders, shareholder returns. >> narrative that you mention esg business, so many are out
talking about, how you know you want to do sliernltible of environmentallyly friendly don't invest in i will companies they are perfectly fine going and unopening shopping in china human rights abuses ccp keeps stealing intellectual property, i wonder, if you are going to see companies actually come out and support, patriotism american values, i spoke with enes freedom boston celtics star pushing back on china i asked if he got deals. >> unfortunately zero, it is a shame all this companies are scared you know scared because they are doing too much business with chinese communist party in china, and they know that the moment that they give me any -- that all business will in china will be shut down. maria: can you imagine andy he has been, are out front on
pushing back on bad behavior of the ccp so far no o american company has come to him said i want to back you endorse you -- >> i wish i were running the company could use him in ad when i ran ck-- we did opposite whatever mainly competitors were doing distinguish yourself a guy appealing to probably half the country, but the woke corporations afraid to use them afraid to use people like him i remember olympics, a woman wrestler won gold medal american flag talking update rotly at the time i was thinking i wish i was a running company so i could use her in ad kinds of people if you use these individuals, in an ad could make a difference, because a lot of americans support what they are saying, this is something that corporate america currently seemed to be missing. maria: ccp will retaliate if you do, that is what they are afraid of, before you go what
symbols or etfs investors who want to acquire with diversified exchange traded funds want politics out of the conversation. >> two funds right now one is a fund that does not invest in companies that oppose second emailed rights letters of egis, a fund concludes companies that don't support pro-life lyfe, the companies are companies we believe support profit motive over politics. >> we motive it there andy we will be watching thanks so much andy puzder joining us, record-breaking christmas cheer you will never guess the number of lights to break the guinness world record we found it one new york family did it we are bringing it to in the big buzz of the morning when we come back. .
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>> welcome back we want to give you the big buzz of the morning, your reaction to my conversation with andy puzder. >> i'm happy to see andy pursuing an etf and opportunity for people to invest that are not woke or pursuing other liberal policies that make most of corporate america look incredibly anti-american or what moment. interesting he has rated companies one through 55 being
the most conservative, however, you wanted to find that not a single s&p company and the s&p 500 rates for a five on a broad spectrum of issues such as abortion and border and all the things we talk about, pretty astonishing. >> is a really great point. the big buzz of the morning and your family setting a world record for the christmas spirit the lights display breaking the guinness world record for the most like to 687,000 lights, the family breaking their own record stopping the display from 2014 the annual tradition raise money for local charities. dishes are there on tractor raise half a million dollars. the christmas display is not in my neighborhood where i grew up. it is the king of the country in terms of lights displays. >> if that was and i are heights it would drain all of the energy
availability from other parts of new york city. i love lights and christmas, this is truly spectacular to me. >> liz, do do a lot of decorating in your house. >> the more the better you cannot go overboard with christmas decorations although these people have tried pretty hard to do that. i love that this is raising money for charity what equal outcome for the neighbors in their community. that is wonderful. stuart: amazing to me that christmas is only a couple of weeks away. you're dealing with so many issues from politics to the economy. dagen, your thoughts? >> i will speak for liz but she experiencing skyrocketing christmas tree. my tree went up about 40%, same place, same tree. i cannot figure supply chain.
were in a position where everyone is raising prices. i think that is why the inflation is not transitory and it will go barreling into 2022 and an investment issue. >> it is hard to roll that back. dagen mcdowell, liz peek, great to be with both of you, have a great monday. we'll see you again tomorrow. "varney & company" begins right now. >> taken away. >> good morning, good morning, everyone it's great to be back especially on a day when there is so much going on. i'm going to start with bitcoin, what is that tell you about the financial world read over the week and it dropped like a stone, down 20%, one point saturday morning it was priced just under $43000, it is 50000 a few hours earlier, backup 48300. the weekend drop in bitcoin and the rest of the crypt