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tv   Mornings With Maria Bartiromo  FOX Business  December 17, 2021 6:00am-9:00am EST

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this put on the map, style and the ability keeps her in the winners circle. whether you are looking for high-rise urban luxury or old world styling with all the modern conveniences, the queen city has what you're looking for from charlotte north dagen: good morning, i'm dagen mcdowell, in in for maria bartiromo. it's friday, december 17th. your top stories, 6:00 a.m. eastern. the country's crime wave deepening and more americans are pushing back on the powers that be. a new fox business poll shows that 77% of voters say a rise in crime is their current biggest concern. the only more pressing issue, rising inflation. we get into it all morning long. a look at markets, futures under selling pressure, losses aacross the board, again. a big loss on the nasdaq 100
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futures, this after all three major market gauges fell yesterday. huge loss on the nasdaq. the nasdaq tumbling almost 2 and-a-half percent. european markets are mixed this friday. you have a slight gain in england on the ftse 100. in asia, the markets mostly lower. the nikkei in japan the worst performer, "mornings with maria" live right now. ♪ come on over, come on over, baby. dagen: your morning movers, first up cerna and oracle, stocks are moving after reports that oracle would buy the electronic medical records company in a $30 billion deal. this is shaping up to be oracle's biggest ever acquisition and would help cerna delve into the cloud based
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software market. usually see the acquiring company stock falling and the target going up. 18% gain on cerna stock in he premarket trading. then there is rivian, the newly listed electric automaker is down in premarket, the stock sinking after yesterday announcing a share loss for the third quarter that is far lower than what wall street was expecting. it also says it will be a few hundred vehicles short of its 2021 production target. on a positive note, the company reportedly will break ground on a second manufacturing plant in georgia beginning next year, almost 10% loss on that stock in early trading. futures are down this morning, following yesterday's technology selloff. tech companies can expect more losses as investors look toward 2022 as some of the world's largest central banks announce shifts in policy. joining me now, mainstay capital management ceo, david kudla. also joining if conversation all morning long, former wisconsin
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congressman, fox news contributor, husband of rachel duffy, sean duffy and lou basenese. david, your reaction to that selloff in tech? is that more to come moving into the new year, given the fact you will see central banks around the globe going into 2022 pulling back on all that monetary stimulus? >> yeah, good morning. i think that we look at just this week, just the past three days, four days, how volatile the nasdaq has been to the upside and the downside and it is -- i think it is mostly concern about the fed. they have done an about-face on policy in a matter of weeks or just a few months from transitory to taper to taper faster and now taper faster and move rates -- rate rises earlier into the year and so there's a
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lot of anxiety among investors and especially in tech stocks and when we look at them at at the markets, we look at these different companies, what we're seeing is, is what we call the blue chip tech stocks or really blue chip stocks are going to continue to do well. they have strong balance sheets, strong earnings. take a company like rivian. i don't want to pick on riviean. i think they have wonderful prospects ahead. the companies that aren't profitable now will be scrutinized even more. the high fliers have very high pes will suffer more than what we call the blue chip stocks. it's not in technology but the other sectors of the market. dagen: haven't we already started seeing that if you really dig down into these markets, some of the high fly rers have shown weakness recently even before the nasdaq selloff and even weakness in the
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international markets. have there been canaries out there if people were watching closely? >> yeah, absolutely, dagen. we've seen this really throughout the fourth quarter, certainly here at the end of the year. we think it continues into next year, though. it is -- with the fed raising rates, there's going to be -- and we need to remember that over the last four interest rate cycles by the fed that stocks did well and the nasdaq did better than the s&p 500 three out of four times over those rate hiking cycles. but we're just seeing with the concern about the liquidity coming out of the system or new liquidity not coming in by march and then the rate hikes ahead, we're seeing tightening coming and that's going to be much more scrutiny on the stocks that are highly leveraged, have a lot of debt, here and around the world. maria: i want to bring lou
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basenese in here. i look at rivian stock. i wonder if any of that weakness is also tied to the fact that it looks like that build back better welfare monday interests welfare monsthosity t buy electric vehicles, it looks like it's not just monetary but maybe fiscal policy falling flat on its face that might be a contributor to rivian selloff this morning. >> the ev space, government subsidies are required for these companies to exist. we saw tesla under report profits of because of government subsidies. i agree with david that this is a risky market and the over of-valued tech companies that don't have any earnings but at the same time, you have to look to these blue chips, like the blue chips of today are not general electric and ibm and intel. it's the apples of the world,
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it's the amazons of the world. so i think i'm curious more how david feels about how youal low t kate in this -- how you allocate in this type of markets. are you moving away from indexing and more to being a stock picker's market and how do you feel about emerging markets. that's been a value trap for 10 years. >> in terms of allocating right now going into the new year, we're not running away from technology. we like those blue chip technology firms we've been talking about in the segment. also, we like healthcare right now because that defensive nature gives us a buffer in the portfolio. for inflation hedge, we haven't talked about inflation yet which is becoming very, very what we call hardy perennial. it's not going away any time soon. we need inflation hedges in there like rei t and those
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things that hurt when they drop on your foot. there's a thought that emerging markets could do better next year because of some of the fundamentals there. the reality is of it is, we know when the fed is hiking rates, that's difficult for emerging markets. other countries that have account deficits versus surpluses, that capital that's not flowing, that liquidity that's not flowing to the market, that could be problematic for emerging markets. dagen: david, before we go, i was watching the bank of england. the bank of england has started raising rates. the first central bank around the globe to start doing that. do you think the fed, what they told the investors this week, they're already so behind the curve that those rate hikes could of come a lot sooner than people think? >> well, it's interesting. we're seeing a divergence among the major central banks, the
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pvoc in china is easing or getting easier. japan had stimulus that was to come off, covid related stimulus that was to come off next year. they now expect to extend it. with christine lagarde in the ecb, when you net out the two different programs, they're not making much of a change in accommodation in terms of asset purchases yet and they've said they're not going to raise rates next year. bob is an outlier with a rise to a quarter point. when we look at the fed, i think the trouble for the fed and jay powell is, is they had to make basically a decision between fighting inflation and continuing further accommodation or continuing easier policy. they've done an extreme about-face here. i know there's people that believe the interest rate hikes can come sooner. i think that jay powell had hoped to push off the inflation hawks further out and i think the critical time period is
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going to be march or april when accommodation gets scaled all the way back, asset purchases back to zero and a then when do they really -- i think we'll see three rate hikes next year. dagen: you don't? >> i do not. dagen: it's just astonishing, though, if you look at that chart of that balance sheet growth, starting -- it was at $800 million before the financial crisis in 2008 and it never really got smaller and now it's close to 9 trillion. like is that really -- is it the fed's role to inflate assets and make people rich in bitcoin? because that's what it looks like. >> a few years ago when they tried to reduce the balance sheet, what happened? liquidity dried up and they did an about-face. they went from qt to qe. so they've had that experience and i think jay powell has proven that he i think really at heart is a dove, wants to continue to be a dove, doesn't
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want to hurt the stock market although that's not supposed to be one of the mandates. dagen: it's not. >> knows what that will mean to the economy and the wealth effect. dagen: the wealth effect made the rich richer and working people hit by inflation are poorer. so, again, if you want to talk about elitist, look no further than the people running the fed. i digress, david kudla, great to see you this morning, sir. happy holidays. >> great to see you, dagen. happy holidays. thank you. dagen: indeed. we'll see you soon. just getting started this morning. coming up the southern border's new hot spot, we're talking about the crisis shifting toward yuma, arizona. we're on it. then democrats on different pages, vice president kamala harris just weighed in on plans for 2024, but her answer is not the same as president biden's. then closing the book on they're on ther
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get a credit toward your first month's payment on select models. dagen: it looks like democrats won't be celebrating a win on their the build back better bill this holiday season. cheryl casone has the details. good morning, cheryl. cheryl: good morning to you, dagen. lawmakers no longer expecting to pass the social spending bill by christmas. biden acknowledged the bill needs more time while discussions continue with joe manchin. in a statement, they said they will work together in the days and weeks ahead, leader schumer and i are looking to see the bill on the floor as soon as possible. another blow to the democrats, the senate parliamentarian again ruling immigration reform cannot be included in the social spending bill. this is the third time the idea has been rejected. well, the centers for disease control recommending that adults receive either the pfizer or moderna vaccine over the johnson & johnson vaccine.
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recommendation coming after the agency reported that the rate of a rare blood clotting condition was higher than previously detected. johnson & johnson's shot will be available for those who are unable or unwilling to receive the moderna or the pfizer shots which are the two dose regiment, this is one dose. the nation's illegal drug problem getting worse, fentanyl overdoses now the leading cause of death for adults between the ages of 18 and 45. as we've been reporting here, mexican cartels are smuggling fentanyl laced pills across the southern border and selling them on social media sites like snapchat. so far, more than 20 million fake pills have been seized this year along. unbelievable, dagen. those are some of your headlines. dagen: thank you so much, cheryl. we'll see you shortly. vice president kamala harris saying she and president biden have not discussed running for re-election in 2024. the comments come amid speculation on if the president will run again due to low polling numbers, low approval, and even his age.
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kamala harris telling the wall street journal, quote, i'm not going to talk about our conversations but i will tell you this, without any ambiguity. we do not talk about nor have we talked about re-election because we haven't completed our first year and we're in the middle of a pandemic. i'll be very honest. i don't think about it, nor have we talked about. white house deputy press secretary reaffirming the biden/harris particular t et -- ticket will run again in 2024. listen. >> i can't speak to a conversation the vice president and the president have, i can only say and reiterate what jen has said and what the president has said himself, that he is planning to run for re-election in 2024. >> the president said he plans to run again, he means with harris on the ticket? >> yes. he does. there's no change. dagen: sean, what do you make of this? i thought kamala harris' answer was more grounded in reality in
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the sense of why would you tell the american people you got 40 year high inflation, you have all of these domestic problems, but we're thinking about three years from now. i thought her answer was better than what you're getting from the briefing room. >> well, i think what you normally say is, listen, we haven't talked about it but of course we're running together, of course we're running, we're a great team. we know there's a situation where poll numbers are incredibly low. joe biden in the mid-30s, but kamala harris is in the 20s. these are historic low numbers. and yes, there's big problems. there might be a big shakeup that comes in elections. the two leaders, kamala and joe, they want to present a united front and you don't do that when you say we haven't talked about it and i don't know what we're going to do. that's an odd answer, completely. dagen: it's odd, sean, also, joe biden would be -- he's 7 # now. he would be -- he's 79 now.
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he would be 82. that might be a bridge too glold now the democrat establishment is seeing that. the media is seeing that. cnn and the new york times said maybe there's other candidates out there that should run. the problem here is not that joe biden is old. the problem is, the policies are bad. when you have bad policies, have you to see who has a different vision for america in the democrat party and i don't think there's leaders they that can win in a primary that have different ideas that the radical leftist ideas. those are the ideas that cnn and the new york times is pushing. they won't get different results from a different leader. they'll get the same results from the same policies. what the democrat party has to do is say what is the new track our party takes, that grows the economy, pushes back against china, makeses us strong again and i don't think that's where they're going to go. dagen: after a series of foul-ups on behalf of the vice
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president, she sat down for an interview with the wall street journal, and with these comments it raises issues about it looks like the president and vice president aren't on the same page. lou, i'll get to you in a few blocks, promise you that. coming up, new york city businesses grappling with the 100% vaccination compliance orders from outgoing mayor bill de blasio. congressman-- andrew garbarino weighs in. plus, nobody likes inflation. you won't believe how the white house is spinning a response to it. it's in the hot topic buzz, ahead. ♪ ♪ ♪ hey google. ♪ ♪ ♪
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dagen: new york city preparing to implement the most aggressive vaccine mandate in the country, this week mayor bill de blasio, he's finally going to be out at the end of this year, he detailed his plans to require private sector workers to get the covid shot by december 27th. all employees must provide proof of at least one dose and 45 days later they must show proof of the second dose. under the mandate, employers cannot allow unvaccinated workers to come to their workplace. medical and a religious exemptions are allowed. joining he me now, new york congressman, andrew garbarino. congressman, i don't think the businesses will adhere to this
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mandate. 94% of adults in new york have had at least one shot so why even do this other than just to stab new york in the side before he exits at the end of the year? >> you're absolutely right, this is nothing but a power grab. this is mayor de blasio, 14 days and counting and i think every citizen in new york state and new york city can't wait for him to finally be out of office. what he has done to new york city over his last eight years, anybody who has been there recently has seen garbage piling up on the street, traffic all over the place. we can't wait for him to be gone. i think it's unfair. i'm a member of the small business committee. to put this kind of requirement on small businesses in new york after what they've been through the last 18 months, it's ridiculous. i think a new york state supreme court judge, a liberal supreme court judge has already put the order on hold.
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which is good. what the new mayor decided what he would like to do in the city, but mayor de blasio and all of his mandates, this one as well as the vaccination of kids from 5 to 11 to be able to attend any afterschool program, it's ridiculous. he needs to go quicker than 14 days. dagen: sean duffy, jump in. >> congressman, so, listen, i look at this mandate and i'm like okay, well, i don't like it and i think all of us think this is an afront to freedom. however, new yorkers they voted in de blasio. you have eric adams the new mayor comes in four days after the mandate goes into effect and he said nothing about it. so isn't this really what new york wants to have happen? they want to go after this as dagen said, the last 6% that haven't been vaccinated and try to punish and push small businesses and big businesses to be the covid cops? >> i don't think -- it was four years ago and it just shows the
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fact that eric adams who campaigned as the complete opposite of bill de blasio was just elected. there was a couple of bill de blasio look-alikes and people who were exactly the same as him, felt the same way in policy. they all went down in the election. so i think new york city's ready for a change. the small businesses definitely don't want to have to deal with this. they want to be able to stay open. they hurt so much while being closed in new york city. they were first to close and last to open. i've been to manhattan, been to the restaurants. they don't need this. they don't need extra requirements. they are just looking to move ahead to get back to normal. this is something that's not going to happen. i don't think the new mayor is going to continue this vaccine requirement. i think just like the courts are shutting down joe biden's requirement for companies with 100 employs ease i think this requirement will also be shut down. dagen: the tsa screeners, i
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think 40% were unvaccinated going into the thanksgiving weekend. that mandate just kind of disappeared. and you've seen that over and over again. in terms of like ship builder, the air traffic controllers, because, again, it's not enforceable and it would foul up the entire economy, certainly air travel. new york city has become the largest city in the nation to allow noncitizens to vote in local elections. governor kathy hochul announcing yesterday she will make mail-in voting a top priority in 2022. congressman, your thoughts on this before we go? >> well, first off, it amazes me that the new york state constitution says -- it's right there. citizens have the right to vote. i don't know where the city council gets off approving 800,000 noncitizens availability of to vote. it goes completely against the new york state constitution. i can't see that surviving a
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court challenge and it shouldn't. it's a sacred right for citizens to be able to have the right to vote. as for mailin voting, they tried to increase it by getting rid of no excuse absentee voting on a refer republican couple. -- referendum. i'm not surprised the governor will push something through that the people don't want. hopefully the state legislature realizes the people don't want this and they vote whatever she wants down. dagen: congressman andrew garbarino, great to see you. have a wonderful holiday season if we don't see you before then. >> thank you. you as well. dagen: coming up, the border's new crisis sensor the, we're putting the focus on yuma, arizona. chipotle goes digital, we have a look at a new location where you can not have a seat. that's next. stay with us. ♪ i feel like dancing, dancing.
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dagen: welcome back. i'm dagen mcdowell, in for maria bartiromo. it is friday, december 17th. a look at markets at the bottom of the hour. futures under some selling pressure,s losses across the board, biggest loser the nasdaq 100 futures, after all three major market gauges fell yesterday, the nasdaq tumbling 2 and-a-half percent in thursday's trading. european markets, mixed this friday. gains in england on the ftse 100, losses in france and germany. in asia overnight, markets mostly lower as well, the kospi in south korea managing a small gain, the nikkei in japan down more than 1 and three quarters percent. the us justice department is suspending negotiations with families separated at the border. cheryl casone has the details on that one. cheryl: that is right, dagen. the doj informing the attorneys
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representing the families that they're going to have to go back to court. the news comes after the white house faced political pressure over potential payments of up to $450,000 or $1 million per family. the american civil liberties union saying the government will begin taking individual cases to trial. well, the death toll from last week's tornado outbreak rising to 90 as rescue and recovery effort continue. kentucky governor an beshear confirming there are 16 people still missing. fema is committing relief as president biden pledges aid for the first 30 days of recovery, nearly $16 million has been raised through state fund raising, much going toward funeral costs and to help cover living expenses for people displaced. people are opening up their wallets for kentucky ahead of the christmas holiday. well, fed ex revenue rising
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despite labor shortages, the company posting a 14% increase in revenue for the second fiscal quarter. the company reporting 470 million in additional expenses. that is due to higher wages and the company's paying a lot of overtime right now. fed ex is higher by 6% in the premarket. finally, they say the labor shortages are unlikely to last. they recently filled 111,000 job applications in one week. that is a record of job applications for this company they say. chipotle is going digital, launching their first digital kitchen in ohio. there's going to be no indoor dining, only get orders through the app or the website. it will be smaller than the traditional chipotle. they will be equipped to make all menu items the company offers. if you don't have guacamole, you're dead to me. back to you. dagen: i have not eaten in a
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chipotle in so long. cheryl: really? it's so good. dagen: might need to swing that one. thank you, cheryl. president biden's border crisis getting worse as drugs continue to stream across the southern border. fentanyl overdoses in the united states they're really poisonings, they'll before becoe number one cause of death for you adults in the u.s.. joining me now is former combat pilot, arizona senate candidate, general mick maguire. your reaction to this? this is directly correlated to the wide open border under president biden. >> yeah, good morning, dagen. thanks for having me. i retired in april after 34 years in uniform. i was a commanding general of the guard. we had supported our great immigration services, i.c.e. and border patrol agents. biden shut that off. when i left in april it was a
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crisis. now it is a full-blown human tragedy. yuma has seven miles of area where the wall has not been completed. i was down there a month ago. in two and-a-half hours in broad daylight, they apprehendedded over 120 people, not one of them from the golden triangle or mexico. this is a complete disaster. biden needs to get down there and he's derelict in his duty. we've got to provide the resources because the temperature is rising. dagen: the wall street journal, general, today has a story about how fentanyl is actually invading more illicit pills with deadly consequences and this is directly from the mexican drug cartels who are manufacturing, making this bootleg version of fentanyl that's winding up in, say, oxycodone pills but also increasingly stimulants that younger people might be using or abusing like cocaine and methamphetamine.
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how many deaths is it going to take for this administration to step up and do something about drug cartels profiting from human suffering and death? >> well, dagen, you're exactly right. i said the other of day that it's the equivalent of a 750 of infantry battalions have died in the last year due to fentanyl or opioid overdose in america. imagine if we lost 750 battalions in afghanistan, that's just an unbelievable number. nearly 90,000. 90% of this stuff is being produced in china. the open border policies of the biden administration are failing. the border patrol is overwhelmed. they're not getting any mutual aid assistance from local law enforcement or the guard and the drug cartels are exploiting this. i find is interesting, dagen, in your preceding segment you were talking about the vaccine mandates. in yuma, arizona right now it is easier to traffic fentanyl or a 9-year-old girl into the sex trade than it is for americans
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to get lunch in new york. that is unbelievable. dagen: in yuma, arizona law enforcement say they're completely overwhelmed by the amount of migrants in the area. encounters are up 2,647%. i didn't read the that wrong. 2600 percent since october of 2020. general, your reaction? >> well, you just have to go to see it. 20 years i served here in arizona in the guard, four times we deployed guardsmen to the border. i've never seen a situation where in broad daylight from 9:00 to 11:30 people are crossing as a steady stream. no regard for law enforcement. border patrol is overwhelmed. all they can do is kind of round people up, get them off and processed and release them on their own recognizance and we will not see them again.
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dagen: lou, jump in here. >> i hate that i have a personal connection to this. i lost a brother in october 2019 to a fentanyl overdose. it shocks me how the administration and some of the people are saying that anyone that uses drugs should carry narcan along with them as the solution to this crisis. that's like telling everyone that has heart disease to carry a defibrillator around with them all the time. i'm curious, you were on the ground, you've been there, what really can impact this crisis? as dagen said, there's how many liveses is it going to take before we wake up and realize the youth of this country are dying at the hands of illegal drugs coming across the border. what practical things can be done and have an impact? >> well, it's clear that we have to complete the wall, surveil it and enforce it. biden are spending taxpayer dollars while prices are rising for contractor not to complete the work.
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there's nothing humane about an open border. in yuma, border security is human security. lawlessness begets more lawlessness. it is completely lawless in the yuma sector right now. there's a requirement for the federal government to secure the sovereignty of this nation. that's why i'm in the senate race. this is the number one federal issue. dagen: general, how is the campaign going? >> campaign's going great, dagen, 26,000 miles driven in the last 23 weeks, seeing the arizona -- seeing people in all counties and working in the urban air aas. there's real energy out there. i tell them we're going to generate an army of voters in arizona that say i pick mick and we'll seize back control of the u.s. senate and stop the radical left from destroying the nation, the greatest nation in the history of the world. dagen: thank you so much for
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being here this morning. >> thank you for having me. dagen: happy holidays, merry christmas, general. >> merry christmas to you. dagen: coming up, new advisory on the johnson & johnson vac seen, what you need to know if you got that one dose shot. plus, the hottest stock picks from top investors. the word on wall street is ahead. stay with us, you're watching "mornings with maria" live on fox business. ♪ everybody's singing. ♪ all the bells are ringing out. ♪ it's christmas. ♪ all over
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dagen: the cdc concluding that pfizer and moderna covid-19 p vaccines should be given over johnson & johnson's, this comes after agency officials found the rate of rare but serious blood clots associated with the johnson & johnson vaccine higher than initially thought. joining me now is the member deer of the fda -- member of the fda advisory committee, pediatric infectious disease expert, dr. levy. this is straight from the heart. i got the johnson & johnson shot after i had covid. what should they do now? >> well, i mean, you received
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what you received and clearly you did well so that provided you the protection. hopefully you've had your booster as well. i would probably recommend an mrna booster off a of the j&j. but as you mentioned, they've established that there's statistically a rare but real risk of serious blood clots, particularly in younger women, with the j&j product. so cdc now has announced that they recommend the mrna vaccines over the j&j. dagen: dr. levy, the thing that bothers people is like now you tell us? like people have been getting the shot from earlier this year and now they come out and say it's not as safe as we thought. that's -- that's where it foments mistrust among americans with the federal government. >> i can certainly see that, dagen. we have to think about math.
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you cannot detect rare events that are one in 100,000 or one in 250,000 out of a study of 30 or 40,000 people. so these are very rare events. but i would turn it around the other way. i would say, look, the system is being transparent. even with very rare events, they're being transparent about the concern and they're issuing guidance in real-time as the information comes in to address the concern. but these are very rare of events, just to be clear. dagen: president biden made some strong claims about the vaccine. dr. levy, i want you to listen to this and i'll get your reaction. >> for unvaccinated, we are looking at a winter of severe illness and death. but there's good news. if you're vaccinated and you have your booster shot, you're protected from severe illness and death, period. dagen: doctor, your reaction to that? >> well, you know, i understand where the president is coming
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from. the jury is still out exactly how severe omicron will be clinically. we know it's spreading very rapidly. you've seen the headlines in the united kingdom, it's becoming the dominant strain and here in the u.s. it's increasingly outcompeting delta. in new york city there's tremendous spread of the omicron right now and probably in other regions of the country. we don't know how severe it is. even if it's mild, for people who are elderly, people who have weakened immune systems, people with co-morbidities, it can be very dangerous. even if it's milder than delta. so we want to protect ourselves and our loved ones and our communities. we want to get vaccinated and protect ourselves and those around us. dagen: dr. levy, why has it taken so long to get these anti-viral medications out from merck and pfizer? because that's a game changer for a lot of people, it would give them great solace if you will that if they did get covid,
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that they could take an anti-viral and the pfizer medication it's almost 90% of people -- in 90% of people it prevents hospitalization or death. >> yes. so what i've seen so far, these anti-virals look very promising. i haven't seen the primary data yet but the headlines look very promising. i think it's a counter point to your first point. you asked, well, how can we move in a way where we're not detecting very rare events and by the way doctor, weren't don't we move faster on the anti-virals. all these things are linked. if you want robust safety data it's going to take a little bit of time but i do believe that these filings are moving forward, these regulatory filings at fda and stay tuned. dagen: as we say in the south, you just handed me my hat. [laughter] dagen: i give you great respect
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and proper respect for that. dr. levy, before we go, on the merck and pfizer anti-viral medications, what timeframe do you think we're looking at? is it a matter of weeks before there's approval? again, the advisory panel signed off on the merck drug, i think. >> right. well, first of all, let me clarify. i am on the fda committee for the coronavirus vaccines. i'm not on the fda committee for these anti-virals so i don't have any particular insight other than what you and your viewers are seeing in the headlines and i don't know the details within fda but i do know that it's a high priority for them and a i wouldn't be surprised in the coming weeks or months if we heard a determination. dagen: there's hypocrisy among all of us. you exposed some of mine. i hope you have a great holiday season and a great new year, dru before then. >> happy holidays to you, dagen. merry christmas tour viewers. happy -- to your viewers. may it be a healthier one.
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dagen: indeed, something we all agree upon. who is to blame for all the inflation, we'll tell you who the white house is blaming, it's in today's hot topic buzz, next. (vo) singing, or speaking. reason, or fun. daring, or thoughtful. sensitive,
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give the gift of ancestry®. world class critical, rare earth element project in canada. appia's high grade discoveries are essential for the rapidly growing electric vehicle and renewable energy markets. appia rare earths & uranium corp. at vanguard, you're more than just an investor, you're an owner with access to financial advice, tools and a personalized plan that helps you build a future for those you love. vanguard. become an owner. dagen: time for the hot topic buzz. the biden administration a accusing republicans of rooting for inflation. here's what principal deputy
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press secretary had to say. >> republicans are actively seeking to hurt the pandemic response, explicitly rooting for inflation to get worse and so they are block whack we're trying to -- blocking what we're trying to do for the american people which is bringing down the cost and doing the work on behalf of the american people. dagen: sean, new low for the biden white house it looks like. >> totally, dagen. listen, i mean, republicans don't want inflation. they love the american people. they love their constituents. they don't want to see this pain inflicted on the american people just for a political win. i mean, that's garbage. but the problem the republicans have with democrats is we've been calling this out, saying sg you can't spend $1.9 trillion in march and $1.2 trillion on the infrastructure package and say i'm going to spend another $5 trillion on build back better and then have easy money and think you're not going to have inflation. it's going to happen. so we said we told you so, we
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knew this was going to happen. had you listened to us, might not have this situation. we don't root for this. we love americans. i might disagree with joe biden. republicans want joe biden as the american not be successful. dagen: lou, what is your reaction to this? they keep peddling the lie that the $5 trillion welfare monstrosity that looks like it's not going anywhere in its current form, that it's going to bring down inflation, that it doesn't cost anything. it costs zero. and it's going to bring down inflation. which we know is just total ball balgerdash. >> i don't know what's more laughable, the comment that you're blaming republicans that we want inflation, but that it's an actually prepared remarks. no one is rooting for inflation, not the democrats, not the republicans, because inflation truly it's the thief that robs us all, it hits us all in our
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pocketbooks and wallets. you can't spend $5 trillion and not have inflationary impact from that. it happens. it's a fundamental law of economics. just because you say it isn't sew, doesn't make it not so. dagen: it's not only the democrats rooting for inflation but they intentionally caused it in energy prices because only when gasoline and energy prices are high do those alternative fuels even begin to make sense. they're trying to force people. again, what a did pete buttigieg say? look, you can charge up your car, you never have to pay for gas again. right? they intentionally did that so if you want to point fingers about causing inflation, here's a mirror. let me just pull up my -- >> great point. dagen: my phone. sean, lou, stay right there. next hour of "mornings with maria" starts right now. ♪ dagen: good morning, i'm dagen
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mcdowell, in for maria bartiromo. it's friday, december 17th. your top stories at 7:00 a.m. eastern. president biden's build back better monstrosity will not be passing by chriss mass. the white house acknowledging that the excessive spending plan needs more time. meantime, the senate parliamentarian is again ruling immigration reform cannot be included in the social spending bill. this is the third time the idea has been rejected. we're waiting for aoc to weigh in. i joke. what you need to know all morning long. a look at markets, futures are down this morning to wrap up this week following yesterday's technology selloff. we have pretty sizable loss on the nasdaq 100 futures again, all three major market gauges fell yesterday, the nasdaq tumbling significantly, almost 2 and-a-half percent. european markets are mixed this friday. we've had a slight gain on the ftse 100 in england, moving into
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the trading day there. trading day has wrapped up in asia overnight markets mostly lower. the t south korean kospi edging out a small gain there. "mornings with maria" is live right now. hong kong gearing up for its first election since beijing overhauled its electoral process. cheryl casone has the details. cheryl: voters heading to the poll this sunday. earlier this year beijing passed a resolution for electoral reform giving it more control over who is elected. it reduces the number of directly elected lawmakers to 20 from 35. this as expanding the legislation from 70 to 90. under the new rules, candidates are also going to be vetted by a pro-beijing committee to ensure only those loyal to beijing rule the city. well, the centers for disease control recommending that adults receive either the pfizer or moderna vaccine over the johnson & johnson shot. recommendation coming after the
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agency reported that the rate of a rare blood clotting condition was higher than previously detected. johnson & johnson shot going to be available, he though, for he those who are unable or unwilling to receive the moderna or pfizer shots. j&j stock is down 1 and-a-half percent right now dz time for the word on wall street, top investors watching your monday. joining me now, money matt press he chief investment strategist, sean gilani, lindsey piegza and mike murphy. lindsey, let me start with you. jay powell announcing earlier this week that the fed is going to slow down asset purchases, wrap them up in march, three rate hikes expected next year. your thoughts going into the new year? >> well, against the backdrop of rapidly rising inflation, the fed has finally acknowledged a lesser need for some of these manage measures put in place at
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the onset of the covid-19 crisis. the fed announcing they will double the pace of asset reductions from $15 billion to $30 billion but keep in mind that even at this slower pace the fed will still be engaged in outright purchases and will continue to do so for months so the fed has really tried to walk this very delicate line. on the one hand, yes, they do want to quell inflation, control inflation expectations. but they also recognize that the economy is still somewhat fragile and does face a number of downside risks and they don't want to pull the rug out from under this recovery quite yet. not just yet. so they're still providing accommodation but they're going to start providing slightly less accommodation going forward. dagen: but to so many people, lindsey, inflation and inflation expectations have already gotten away from them. inflation, at consumer inflation is three times higher than the fed target and the federal
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reserve, a public survey released earlier this week found short-term expectations are at 6%, an all time high. >> absolutely. we're questioning what the fed should do and what they will do. the fed has arguably waited on the sidelines for longer than it should have been arguably needs to take more aggressive action than it otherwise would have needed to had it gun to remove these measures earlier. but the fed does seem to be still somewhat cautious. the fed chairman himself saying he's going to be very slow, very deliberate, very cautious in navigating the shift and so i don't see the fed taking very aggressive action. and remember, even if we did see the fed raise rates two or three times next year, coming off of zero levels we're still talking about historically low rates. so even, again, as we're talking about slowly removing accommodation, we're nowhere near a tightening phase.
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dagen: stock buybacks are hitting record highs, the wall street journal reporting s&p 500 companies topped $234 billion in third quarter repurchases with more buybacks coming. you're expecting the fourth quarter buybacks to exceed that number. you say this is a buying opportunity. why? >> dagen, because first of all the buybacks are a support mechanism for all those stocks and most of the companies are doing the big buybacks are big companies with great earnings obviously and profitability that they have the cash and free cash flow to do that. they are all big participants in all the major benchmarks. so we talk a lot about retail investors buying the dips. it's the trading desks whose mandates are to execute the buyback programs on behalf of these big companies, are always looking to buy on any dip. so this is probably what we're going to see through the end of the year. now the earnings season is over in terms of announcements. companies are he free to go back onto the floor and start
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executing those programs, buying, buying, buying. i think we're going to see santa claus rally and i think the first quarter is going to be great too. so plenty of buybacks coming. i expect again a record fourth quarter buybacks and we're going to start to see a lot of them going into the end of the year. dagen: mike, let me turn to you. with everything going on with the markets right now, where are you looking to allocate dollars, capital right now? >> good morning, dagen. great to be here. so i think if you step back, the easy answer to that is as i've been saying to a large basket of growth companies, the s&p 500. so anyone watching at home who is sitting on money, saying what can i do with it, you can right now today put it in the s&p 5 a hundred. if you get more granular, if you look at someone who is more interested in trading individual companies, there are a lot of great companies that have sold off a lot. although the s&p is up 25% year-to-date, you have some companies like disney that are trading down for the year. you have companies like uber that are trading down for the
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year and then you have companies like peloton that responsibility -- that aren't just trading down, they're down 70%. in high tech, i look at nvidia, a $700 billion market cap. that's the chip company of the future. i think there's a lot of upside for next year in nvidia. disney is a streaming play, it's a technology play, it's not our parents' disney, so trading down, under 150 i think is a great place toal he locate money. uber, i've been talking about this for a long time. it had a huge run-up and now it's had a big pullback but i think uber will turn to profitability next year. i think they have a lot of different levers to pull and they still have 100 billion monthly active users so they're going to figure that, 100 million, they're going to figure that part out. lastly, peloton. i bought peloton on this pullback. i'm a user. i'm a fan of the company. i think it may take more time there but for someone who is patient and believes in it, i think pelotons has a lot of
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upside as well. dagen: i want to get lou to react to the stock picks, mike murphy. lou, which one do you like? by the way anybody who sold peloton because of the stupid sex in the city reboot, you deserve to lose money because that was ridiculous. but go ahead. >> nvidia, semiconductors are the oxygen of the economy for the next ten years. but peloton, mike. crash and burn. that thing is down 70% and deserves to be so. the biggest mistake i made was buying a peloton bike. i would never buy that stock. they're not going to make earnings. they send advertisements every day for the drop in prices. it's a stationary bike with an internet connection. i don't get the novel. >> when you look at what they're doing, from the treadmill to exercise classes they have, the bigger picture, i'm not saying it's going back to 200 but when you look at it in the 30s there's value if you're patient. the overall a theme of people staying fit and exercising and
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being healthy, i think that's the bigger theme that i play on and they've done it once and i wouldn't bet against john foley, especially in the 30s. >> if you're right, i'll give you my peloton. dagen: give it to me. i'm sure mike has a peloton. i don't have one. you can give it to me. and by the way. >> we'll figure it out. dagen: to mike's point, peloton, it's about -- it's almost like a content play if you will because of the instructors they have on the platform. right, mike? it's like -- >> absolutely. i think there's a lot more they can do with that. they started boxing. people-if you're a bear you call it a stationary bike with a screen. but if you're a bull you think about it as a content play, you think about it as a health play. they're doing boxing, they're doing treadmill. there's so many other things they can do from apparel. i think it's -- they went through a really tough time and the 70% pullback to me i think is overdone. so can it rally 50% from here?
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i think it can. dagen: i'll note that peloton had a holiday party, i think it was at the plaza hotel and only invited the instructors and the celebrity exercise gurus on the platform and didn't invite the employees and some folks were m-a-d angry, i'll add that. i've got too much information stored in my bread. great to see all -- in my brain. great to see all of you. coming up, more americans are fed up with a rise in coast to coast crime. we talk about the new fox polls and tell you the top concern for voters. then former kansas city federal reserve president thomas hoenig is here, he'll be talking the fed decision and why he thinks three rate hikes is too modest. and why a four day workweek could become the standard, the hot topic buzz. joining the conversation all morning long, lou basenese and
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sean duffy. you're watching "mornings with maria" live on fox business. ♪ ok, let's talk about those changes to your financial plan. bill, mary? hey... it's our former broker carl. carl, say hi to nina, our schwab financial consultant. hm... i know how difficult these calls can be. not with schwab. nina made it easier to set up our financial plan. we can check in on it anytime. it changes when our goals change. planning can't be that easy. actually, it can be, carl. look forward to planning with schwab. schwab! ♪♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪
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and goes out of its way to help. ♪♪ when you start with care, you get a different kind of bank. truist. born to care. dagen: crime is soaring across the country and americans are certainly not just taking notice but mad as hell. a new fox business poll finds nearly 8 in 10 of voters are extremely or very concerned about the surge. and they're not happy with how president biden is handling it. only 36% of voters approve of biden's job on crime. sean, how much can the federal government do about what is very much a left wing local issue, particularly for these large american cities? >> so what the federal government can do or actually what the biden administration could do is actually message to
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the left wing mayors and prosecutors that this is bad politics, bad policy, it's bad for the american people. you should have businesses -- when you had nordstrom's and target, if you're shopping for christmas, remember these are the companies that supported some of the blms and aclus out there that were giving money to organizations that were trying to he defund the police that have led to the crime surge. i mean, so i think the answer is, you know, message to the right people to get the right policies, that's all they can do. but you know what? the american people are smart. and i think they were able to buy into this idea that we would have this less police in the communities and we could still be safe, they're realizing that's not true. let's get more police on the beat and keep our communities safe. dagen: as andy mccarthy pointed out to me, kind of answering my own question, what biden and company can do or what his justice department can do, what the fbi can do, they don't even
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need to use the rico statute for organized crime to go after the gangs. if the stolen property is being moved in interstate commerce, andy mccarthy said, or if interstate conspiracies are organizing them the department of justice can go in and ecute, iecnve,titetin bfal tof tbi fndndrosecutete ey iot i j toe toe cmet's iac itimpactimp ay why ckhe ockaf otot me peoe?e? >> thethththai s lle l lsss me l . cr r. beeertron str oncrim ale geren noo i disurepre mee we g aboug ab aoug ou d the movemenov a are a a a later and a what'ha happing, crime ireasinreasre it a wng reactioean. is there a am neede nee e ie te pystem,ystem,ysm,m, ce thee te iystem there is. we can't defund.
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we have to increase funding. we need to take action, otherwise the criminals will react to that. dagen: all ofs this started last summer. i was on the air, all of us were, really upset about what we were seeing in the streets of places like new york city where i was coming to work and there were -- macy's, a giant mob of people broke into macy's and kamala harris and joe biden on the campaign trail didn't say anything about the lawlessness until august when it started showing up in their poll numbers. they don't care about victims. they care about their own political stature. >> that's right. dagen, just quickly, there's not enough fbi a agents to address this problem. we need local law enforcement to do this. it's not a federal issue, it's a local issue. we should look at bail reform and criminal justice reform and defunding the police, they are coming together to have this crime surge and it's great that
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americans hates it. dagen: i'm talking about the smash and grab looting, if the goods are being sold through interstate trafficking, the fed rail government could -- federal government can do something about it. >> they don't have the resources. dagen: the federal government doesn't have the resources? >> not in the fbi, not in the doj. they don't. there's so much that's going on, dagen. dagen: the doj has resources to go after parents who were upset at school board meetings. >> but listen, we made the argument, they don't have the resources. that's not their job. this is local law enforcement. the problem with the school board, let the local cops deal with it. the fbi shouldn't be involved in that. they shouldn't be involved in smash and grab. they can be but it's not the right role. dagen: coming up, a kim of teens he's -- couple of teens escape a fast moving apartment fire. all caught on camera. we'll show you what went wrong. a big blow to biden's run-away
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spending package, why the white house says build back better will not be here before christmas. that's ahead. stay with us. ♪ ♪ ♪ hey google. ♪ ♪ ♪
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♪ ♪ ♪ when it comes to autism, finding the right words can be tough. finding understanding doesn't have to be. together, we can create a kinder, more inclusive world for the millions of people on the autism spectrum.
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dagen: president biden acknowledging that this build back better bill will need more time. democratic lawmakers were hoping to pass the social spending
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monstrosity by christmas which now looks to be highly unlikely. in a statement, the president saying, quote, we will advance this work together over the days and weeks ahead. leader schumer and i are determined to see the bill successfully on the floor as early as possible. biden also noting that discussions will continue with senator joe manchin who has been vocal about his concerns with the bill. joining me now, south carolina congresswoman, house oversight and house veteran affairs committee member, nancy mays. congresswoman, what do you make of the stall? do you think they're able to pass anything in the new year? >> no. when president biden says that build back better needs more time, what he really means is build back better is dead. this bill will not pass or go anywhere before the end of the year and looking into 2022 at the midterm elections i don't see how you move this monday of monstrosity forward.
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going to cost probably 5 trillion dollars. the american people were misled on it. it's problematic for the president and the senate going forward. dagen: do you think it's problematic for republicans? again, it's all about the politics and the messaging of it for the left but because this extra child allowance expires right now, right before the christmas holidays, so the credit went from 2,000 -- now it's 3,000 a year or $3,600 for children under the age of six. and people, families were getting the money delivered to them monthly. that will disappear in the new year and the republicans will get blamed for that, won't they? >> they will. the child tax credit is popular, so is 4-year-old pre-k. it's popular with americans on both sides of the aisle. this is what happens when you refuse to work together, refuse to reach across the aisle to work together to work for the american people and i would like
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someone to tell me one thing that is better for middle america, for the american people in the last year. everything costs more. people have great distrust in the government. they distrust the media. they fear vaccine mandates, there's a growing racial divide. these are huge problems that need to be solved and we can't do that by continuing to have these big bills pushed through without any input from republicans at all. dagen: i said this all along. the democrats really behaved as if they had a mandate, as if this was -- and kim strassel writes about this in the journal today, as if biden was fdr. biden didn't have the huge democratic majority that franklin roosevelt did. rono is great for a idiotic quote. she said a 50/50 senate sucks.
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one or two people stop everything. i was like why did you act like it wasn't a 50/50 senate all year and try to push through, in addition to the 2 trillion spent early this year, the infrastructure bill, then you were trying to push through $5 trillion bill when inflation is the highest it's been in 40 years. >> it's truly shocking. nancy pelosi had a three or four person majority for the most part this year, the senate was 50/50. there was no mandate for this kind of social welfare or social safety net. now the chatter is that we see is that democrats are going to pivot to voting rights. this is an issue that republicans should embrace. because we're not trying to take votes away from democrats. they want to take voter id away, they want to take the rights of states, they want to federalize elections, they want to take the constitutional rights of states to determine how to do their elections away from those states. it's one disaster after another, one crisis after another and you
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have 20 democrats that retiring going into next year, plus as you said, they treated this last year like there was a huge democrat mandate. there was not. there was a mandate to work together. the freshman republican, i worked on passing three pieces of legislation this past year. i think it's incumbent upon us during trying times to do our best to work together, all of us on both sides of the aisle should be doing that right now. dagen: the senate parliamentarian ruled immigration reform cannot be included in this welfare monstrosity, this bill. this is the third time it's been rejected an the plan should have shielded immigrants from deportation, provide work authorization for any immigrant who arrived in the u.s. before 2011. your thoughts on that before we go. >> president biden was floating around the idea take immigrants and families at the border should get $450,000, that's more than an american soldier's family gets when he is killed in action, their insurance policy
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is $400,000. really it's shocking they think they can shove these things through. they said they'll fight it tooth and nail. it's the wrong time and place to do this right now. dagen: the administration has pulled out of the settlement talks with the separated families. we'll see where it goes. congresswoman nancy mays, thank you so much. focus on the fed, form rer kansas city fed chief thomas hoenig is here, he'll tell us why he thinks three rate hikes is too modest. plus the hot spots to house hunt in 2022, where you should be thinking about laying down some roots. stay with us. ♪ treasure, that is what you are. ♪ you're my golden star. ♪ and if you could make my wish come true. ♪ you would let me treasure you. ♪
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cheryl: welcome back many i'm cheryl casone. two teens left dangling on the side of a high rise trying to escape their burning apartment and this dramatic video will have you on the edge of your seat this morning. look at this, one by one, a 13-year-old boy and 18-year-old girl climb out of their apartment window, this is in new york city, as flames and black smoke flood through the opening. the teens later climbing down four stories onto a construction pole. they got to safety. they suffered minor injuries but they're expected to be okay. one man was killed in this fire and the cause of the blaze still under investigation today. well, oracle is looking to you acquire cerner corporation,, looking to buy the company in a deal that could be worth $30 billion, making it the biggest deal ever for oracle. the deal could be finalized soon if the talks remain on track.
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as you can see, cerner is surging in the premarket, more than 18% jump. oracle the potential buyer down almost 4 and-a-half percent, kind of a normal reaction to the story. a federal judge tossing a settlement between perdue pharma and a family that owns the drug maker, the judge ruling more than $4 billion settlement that gave members of the family protection against civil litigation is not permitted under the bankruptcy code. this decision raising questions about the future of the company and the owners who are accused of fueling the nation's deadly opioid crisis. finally there is this. realtor.com releasing the projections for the top housing markets in 2022. get your pencils out. salt lake city, utah taking the top spot for the upcoming year, noting the cities' strong local economy, culture and opportunities for recreation. it's really great to ski there, by the way.
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rounding out the top five, boise city, spokane, indianapolis, indiana and columbus, ohio, dagen. did i mention how great the ask skiing is outside of salt lake city. did you catch that. dagen: i would argue that region of the country it's the best skiing in the nation. the quality of the snow is quite delicious. thank you. cheryl: road trip. dagen: thank you so much, cheryl. i've got to take two weeks off to drive to salt lake. moving on to federal reserve chief jay powell announcing more aggressive policy moves will be put in place in the new year in response to rising inflation, the central bank signaling that three rate hikes are on the way coming next year and then another three if 2023 but this is after they stop the bond buying program in march. joining me now, former kansas city federal reserve president and ceo of the mercada center, a distinguished senior fellow
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there, thomas hoenig. you say three rate hikes next year is understandable. is it enough to rein in inflation? >> thank you for having me. and to answer your question, it will probably not rein in inflation as it is only a beginning of i think a series of rate hikes. i think the challenge -- first of all, the federal reserve has acknowledged that inflation is a product of not just temporary but longer term supply issues and very significant fiscal and monetary policy stimulus in the economy and so they're beginning to adjust that but remember the tapering is merely a slowing of a very expansionary policy. policy right now remains expansionary. so come march or april, probably begin rate increases, but remember if inflation were just 6% and it's over had that now and you did three rate increases of a quarter point each, you still have very negative
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interest rates and negative interest rates of nearly 5%, in that range, will remain stimulated for the economy as far as inflation goes. so they have a long haul. i think their challenge is very difficult. we have a new covid virus. they have a lot of stimulus in the economy. they don't want to take it out too quickly because they're afraid of a recession. on the other hand, if they go too slowly they will i think accelerate inflation as it becomes endemic in the economy and one of the other traits of central banks is they wait too long in the sense that number one as inflation's emerge, they've been slow to he react. on other end, they wait to see inflation break which usually is aligned with recession. how to balance that? that will be a major challenge for this central bank in the united states and probably
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several others around the world. dagen: but thomas, this started becoming a problem last spring. there were people everywhere talking about inflation becoming a problem and clearly running above what was the federal reserve's target. so they let this happen. this was policy. the change in policy in 2020 where they were going to let inflation run hotter. >> it was a change in policy and they also -- if errors are what we're thinking of, you had the -- started the recovery at least 10 to 15 months ago, depending on who you want to talk with, and they still continued increasing money into the system at a rate of about $125 billion per month. that's over a trillion dollars a year, that's highly stimulative and you would expect inflation, both as a et price inflation, --
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asset price inflation which we've had for over a decade and price inflation which we're now beginning to suffer. yes, it was an error in the sense that clearly it was a stimulative policy for too long based on their presumption that it would be transitory that this was all supply related rather than their contribution in terms of demand so now they're trying to for that. the question will be how quickly and how long they'll keep a tighter policy in place. they have a difficult road ahead, even looking back. mistakes have been made perhaps but now they have to avoid future mistakes which is extremely difficult for them as they look at this challenge ahead. dagen: thomas, i've been in this business a long time. i've been a financial journalists for almost 30 years now and looking back at the fed response to the dot-com bubble bursting, it was to reinflate another asset bubble and it was
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apparent, most apparent in real estate. and their response to that bubble bursting was to, again, inflate assets once again. and you said yourself the asset price of inflation has been going on for more than a decade a. at some point don't we need to just let that pain happen? because again, it's like real estate bubble after the dot-com bubble, the collapse was worse. i just see a coming collapse being even worse than 2008 potentially. >> there's a very serious risk of that. central banks, u.s. included, have had a strong bias towards easy policy to quickly recover from downturns and what you have now over this period is a significant expansion of monetary policy over the decade that has caused asset values to rise and now inflation to rise.
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and that is i think unfortunate and here's the difficulty. for over a decade you've had a near zero or very low for a while but for most of that period a very close to zero interest rate policy. that has caused the entire economy to develop what i'll call an unstable equilibrium around zero. it's not a matter of you want to feel the pain, it's a matter that i think moving to a new equilibrium of more normal level, whatever that is, certainly above zero, cannot probably accomplish without some tangling and then the question will be when you start seeing the slowdown in the economy which is possible and even likely, whether you then reverse quickly and do an easy monetary policy to try to avoid it and that is a very serious risk that
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the fomc i'm sure is aware of but has to take pretty seriously and then be prepared to withstand the pressures that come when the economy slows. and otherwise, eventually i think will lead to a new what i'll call woke-er moment when the inflation gets so far out of control that you have to strang gel the economy for a -- strangle the economy for a period of time. there is going to be some pain i think to re-establish a more normal economic interest rate environment in the united states, perhaps globally. dagen: great to see you, thomas hoenig. thank you so much. a very happy holiday seen to you, sir. >> thank you for having me. dagen: coming up, the american people get an early christmas present as we learn that build back better won't be passed before the holiday. congressman jason smith weighs in next hour. closing the book on theranos, the final arrestingments in the he'll -- final arguments in the
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elizabeth holmes trial begins today. we have a look at what comes next. you're watching "mornings with maria" live on foxes business. ♪ ♪ ♪ hey google. ♪ ♪ ♪ ♪ ♪ ♪
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dagen: jurors move closer to deciding the fate of theranos founder elizabeth holmes. prosecutors wrapped up their final arguments yesterday,
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making the case that holmes knowingly lied about theranos technology and said her alleged fraud was deliberate. the defense will present their closing arguments today before jurors decide her faith. joining -- decide her fate. >> it's nothing unexpected. the prosecution has so much evidence. they put on a painstaking case with tons of witnesses and they went through it witness by witness to point out all of the issues, all of the proof, all of the evidence that support that holmes lied to investors and did so knowingly because they have to prove intent. on the defense side, we're going to see a total he reliance on elizabeth and she testified, she testified for days upon days, she was their last witness she was their star witness and she may have been the most important witness of the trial. dagen: i know that the -- i followed this case closely. i read john kerry's book and
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listened to the podcast. i know the prosecutors -- again, proving fraud is difficult but they have used her own words against her. there's was an audiotape of a call where she made claims to investors that simply weren't true and the jurors got to hear this and one of the investors said that it was what she said on the call that convinced him to invest money in the company for i think it was another round. he had made a previous investment in the company. i know that she took the stand but what's most important is what she told investors at the time. >> yeah, i mean, you would think so. but some of the time a really strong advocate, somebody b who is really good at talking to a jury, whether a jury of investors which she is used to or a jury in the courtroom can overcome some bad evidence. you are 100% right. the prosecution has great evidence that she deceived
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investors but it's all what was in her head. if she believed that what she was saying had a bit of truth, then the jury might believe she was doing what people do to get investments and it didn't get to the extent of intentional lying and deceiving. dagen: i know what that she made claims about that they were working with the military, theranos was, and it just was a lie. so i don't know how she could -- i won't point this out. having covered trials, i have not been in the courtroom for any of the prosecution and the defense. it's very hard to know what a jury might be thinking until you have seen everything had that they've seen. because what you see on the outside looking in is irrelevant. i know at the time she told lie after lie after lie after lie to investors. >> no doubt about it. i mean, you're right, she lied about being in the military.
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she lied and changed the logos to add a pfizer and sheering plow logo to some of the documents and her explanations for that were not great. you're 100% correct. and at the same time, she's was enormously engaging with jurors. she was on the stand for a very long time. think back to the jody arias case. she was many thought would be found guilty and sentenced to death. a long time on a stand, interacting with a jury can be helpful. she had so practice and a lot of skill in advocating to jurors of investors and i think she was very effective. i agree with you, that the evidence is overwhelming against her but if one of those 12 people isn't convinced, she's a free woman. dagen: convinced with the poor me, my boyfriend made me do it defense and of course her boyfriend at the time -- which she was lying about, that the board didn't know she was living with sonny balwani and she is
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blaming him and he's going to be tried separately at a later date. >> that's right. she did blame him. she also testified that she had been raped while she was at stanford. we expected to see a psychologist testify about the impact of some of these things. that person did not testify which i think is very interesting but the jury of course doesn't know that. she blamed it in large part on sonny. we'll how that flies. dagen: she exhibited this behavior before she ever hooked up with sonny balwani. i'll leave it at that. jurors don't hear that. heather hanson, great to see you. terrific insight into the trial. we're watching for the outcome. coming up, rethinking work, why a four day workweek may make more sense in a post pandemic world. the hot topic buzz of the morning, next. ♪
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progressives calling for four-day workweek job options great resignation live in tampa, florida with more good
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morning, madison. >> good morning, dagen, we've been talking about this so much great resignation how much industry is doing, with workers walking off the job and one of the industries that is hit hardest is restaurants let's take a look at what national resignation rate is right now under 3% when it comes to restaurants, that is 6%, and really struggling to find workers but not here at this chop in tampa, florida adjustments 40 workweek 40 hours, workers working 40-hour week compressed time i am with co-owner, you switched to four days around four months ago how is it working for you. >> we needed to make change not just for the labor shortage but improve restaurant in general to
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attract more employees. >> how many more people able to hire when people are struggling to hire employees. >> we doubled our staff, started out with 4 guys, now i have 9 employees. >> okay. you told me, you have been able toll increase profits of by 30%, because now open seven days a week you actually were able to poach talent from another restaurant because of four-day workweek. correct one of our regular customers at another restaurant working five to six days a week pretty standard, and he saw posting on social media we are moving four day workweeks, he came in and talked to me. thank you so much, obviously, this is different than bill that progressives are pushing, 32 hours, and overtime, four days a week 30 hours, incredible change when seeing such a revolution in the labor
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market. dagen: madison thank you so much for that food looks delicious make sure you eat. you need something delicious. >> thanks madison, coming up so lou and sean are here quick what do you make of that? >> i think great, businesses where i can being do four-day workweek people love it can you do a four-day workweek? i don't think so some places you just can't do four days. dagen: i could if they would let me. but that is not in the cards. yeah, i will be -- working, i think it is -- 15, 16 hours today, so, that is enough. next hour, "mornings with maria" starts right now. . . dagen: google i am dagen mcdowell in for maria bartiromo, friday, december
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17, top stories 8:00 a.m. eastern. the country's crime wave deepens, more americans are pushing back on the powers that be, new fox business poll shows 77% voters say a rise in crime is currently the biggest concern. only more pressing issue rising inflation. we get into it all morning long. a look at markets, furthers under selling pressure following yesterday's tech sell-off we have losses across the board the moment triple-digit on dow one percent loss on naz o deck 100 furts, after all three gauges fell yesterday nasdaq tumbling 2 1/2% european markets have been mixed, as we move into trading session, on friday, but right now, you have losses across the board. the ftse 100 dipping into negative territory, similar story overnight in asia markets mostly lower, nikkei in japan worst performer down
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more than 1 and 3/4%. "mornings with maria" live right now. . . >> general motors down more than 3% in premarket, after the ceo of cruise announced he is leaving the company the autonomous by gm second being departure this week stock following after consumer financial protection burrow said would look into the playing out pay later program concerned how payment is comakdz consumer debts accumulation, futures down following yesterday's technology, sell-off, tech companies can expect more losses as investors are looking towards 2022. some worlds largest stram banks announced shifts in policy, taking away a little
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bit of the. investors have been drinking wells fargo investment institute head global market strategist paul christopher, sean duffy, lou great to see all you gentlemen paul what do you make that of sell-off yesterday in tech this is a shade of things to some. >> not really we think tech is going to grow on strength of the u.s. economy but look called growth stocks for the a reason. people buy them because they are expecting those earnings to grow overtime if you have inflation people start to worry well, what is that going to buy me eventual the purchasing power of future earnings maybe already seeming less, interest rates going up then maybe going to cost more to borrow, to generate earnings that is what happens to growth stocks when inflation is around central bank talks rate hikes we think
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tech good place to be we do not think inflation will be long, interest rates will not harm the economy it will be a strong economy again next year. >> allow do you agree. >> i do agree i make the dw argument are investment is in technology not a single company in xivenz that doesn't rely on technology from some biggest names the consumer market everyone has apple, you don't win ever by betting against apple in some blue chip names, do i have a question for paul i know that you love large caps over small caps i want to push back on a little bit understand your thinking, because large cap had a wonderful run up 24% this year, 5 stocks in s&p 500 account for almost 40% of performances now trading 30 times p/e viruses small caps 15 times price to earnings if u.s. economy is going to take off traditional small caps where you want to be, domestically focused. >> interesting point small caps did have a really good start to last year could,
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excuse me -- over time still 2021, good start this year do not last we think the reason for that is too many headwinds for small cap companies, on one hand you've got more difficulty finding labor, wages are going up, costs inputs going up more difficult problems obstacles for small cap companies than for large cab let's not forget some of the large indices of small cap companies you will find a lot of companies in there that weren't making profits of even at start of this year. if things the conditions have gotten tougher for them, we want to portray in terms of quality, we want the u.s., quality pick large caps over small caps we think another quality pick. dagen: you are talking about interest rates rising, the federal reserve announced this week that they are going to wind down asset purchases, that will end in march, then would begin interest rate increases. initially markets reacted positively because they heard
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exactly what they were expecting. but why would you be convinced the fed isn't going to royally screw this up? >> [laughter]. dagen: they certainly screwed it up on the way up, in terms of inflation. why do you think that -- we got this on the way down? >> government always knows what they are doing, [laughter], look, people worry about the peed when they start hiking rates, it happened in 2004 again in 2015 late 2015 fed started raising rates, just precisely your premise how do we know fed isn't going to screw this up. the answer if you look back in history, six months after that first rate hike, the market recovered gains was higher the economy wasn't as strong in 2016 or the 2004 as it is today so you know look at you housing starts, 11.8% month-over-month industrial
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production up half a percent month-over-month strong numbers, that is going to be extended, if covid is going to have any silver lining to it, it is going to stretch out elongate economic recovery, so the fed promising three rate hikes, and that is probably going to tap on bricks not putting the car in the ditch. >> we've had more than a decade, i was talking to thomas honig about this, the response, that the response from the federal reserve was tech bubble and then response created the real estate bubble the response after that created the bubble we see now. that again, it is they tried to avoid investors feeling pain and eventually they are not able to let that happen. >> yeah, that is a serious concern, to the fed they have to consider, money growth has been running ahead of the economy now for 30 years. how will that ever reverse
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itself? >> that is not -- it is a you long-term sort of question one we worry about like we worry about the federal debt, it is not an imminent problem it is one for the future something that we have to deal with but i go back to the point made a few minutes ago about technology, you know if you can increase productivity in the economy, that will allow the fed, to -- to increase rates, by more allow economy to still sustain growth rate, we think technology taking the -- the rapidly trend rain pace trend forward will generate kind of work the kind of earnings, the kind of wages, that will allow to fed to get back to a normal rate hike cycle fundamental there are positives out there not just negatives paul christopher much more ahead president biden saying massive spending bill needs more time, before it can pass, missouri
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congressman jason smith here to weigh in more businesses banning employees from going to work if you do not get a shot we till which are masking up enforcing mandates don't miss a moment of it you are watching "mornings with maria" live on fox business. . ♪♪ ♪♪ to bring it down ♪♪ . . ♪ ♪ ♪ ♪ hey, tam-tam! i was thinking maybe...
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daring, or thoughtful. sensitive, or strong. progress isn't either or progress is everything. dagen: top headlines this morning democrats will not be celebrating a win on their "build back better" monstrosity this holiday season, cheryl casone was details. cheryl: monstrosity a good word good morning again, so lawmakers no longer expecting to pass president biden associate spending bill by christmas president acknowledging this yesterday
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saying they will need more time to discussions with senator joe manchin, biden saying quote we will vans work together over days and weeks ahead leader schumer and i are to see bill successfully on the interior as early as possible democrats, sthalt parliamentarian ruling immigration reform cannot be included in this bill this is tiered time that john durham has been rejected. >> centers for disease control recommending adults receive pfizer or moderna vaccine over j&j the rate of a rare plod clot clotting conditions higher than detected the johnson & johnson shots still available for those unable or unwilling, to receive the moderna or pfizer shots jay and ja is one others are two does registerments johnson & johnson down 2% this morning. the nation illegal drying problem is getting worse, financial overdosed leading
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cause of adults 18 and 45, cartels smuggle fentanyl laced bills across the southern border selling on social media sights snapchat. dagen: businesses bracing for rising covid clamping you on on workers a few new rules, google threatening to fire any employee not vaccinated within six months apple delaying its return to the office indefinitely, jpmorgan, saying that unvaccinated employees can't come into its new york offices, people upset about being vaccinationed vaxxed forced to wear a mask kaying of governor kathy hochul stupid rules goldman sachs he personing remaining city holiday parties, broadway
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shares to cancel after actors crew tested positive, sean, it is like back to march 2020 your thoughts on all this. >> it is -- dr. on fox business it is contagious but far less deadly, variant looking more like cold, so, he was saying this is an over reaction to what this new variant is the closures, from google does that surprise me no? authoritarians want to manning what is on youtube who can say you what we going to try to fire employees in new york city i think you have a lot of businesses that are just trying to comply as i mentioned with ridiculous mandates that have come from the governor and from the mayor, so, again, it is compliance. >> homes as lou john you can weigh in on this too i don't
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-- in terms of new york city order, the mandatory vaccination order putting the burned on employers, to -- vet employees i don't understand why eric adams wouldn't say i am getting rid of this talked about it yesterday -- why wouldn't he just tosaule omarova out de blasio kick him in pants on the way out of door tell him take his vaccine mandate with him. >> he should a wonderful changing of guard sean said science is not following the corporate actions, if you look, the vaccines legislation effective with each mutation they target one out of 50 spike proteins on virus as we get mu takesal drift vaccines become more irrelevant we should be focusing on the data, right, a lower hospitalization rate lower death rated myr milder
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symptoms treatments that have impact against new variant companies working on it adagio well-known antibody cocktail ineffective against omicron, imnm, koktail effective all variants, there are a lot of science should be leading the way not politics, but unfortunately, once again, if you get in media you stir up fear, and just -- scare people they go they start you know agreeing to mandates i just don't think they are effective at this point -- talked to him earlier this covid, is nonsense never getting to covid zero it is in the animal population even here in the united states even among deer, and so, what animal kingdom marty said going to keep spitting out variants, for --
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time -- for much time to come. so to speak you need to learn to live with it. you got ientd viral drugs on deck from merck pfizer another company, so we have to treat it like more like a -- cold verse. >> acceptable rate of risk we know people die from flu don't want to get it you get it some die the same with covid we have to stop overreacting a point on infectiousing i think adams was claying good politics a crazy left wing i liberals in new york, why doesn't rest of america why care about new york most say i don't live there i don't care about new york, care because policies can come home to you bad things come out of new york and california, and into rest of the country that is why we talk about it end bad
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policies this cities liberal states, don't start across the country like covid did. dagen: also bail reform. not requiring cash bail for the vast majority of the offenses no misdemeanors only most violent felonies as law written two years ago it is coming for you crime seeing last year is coming for you if you have a left wing prosecutor, in office if you have a left wing mayor at the end of the day they really don't care, they don't care about victims, criminal justice the justice is for victims not the criminals. instead leaders they coddle the criminals, i could -- but that is why we cover all this, because this is insanity coming your way unless voters pay attention to who is running their cities and towns even states. coming up perdue university
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con digital harassment of a chinese student former undersecretary of state for economic growth weighs in, and drama among democrats biden pulling away from "build back better" as senate parliamentarian says no again to he immigration reform being shoved into that bill we are breaking it down next. .
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cana . >> i think "build back better" is dead not for just 20212 but the forever. dagen: skra senator lindsey graham yesterday before president biden admitted more time needed on massive object so associate spending bill democrats no longer expect to pass "build back better" by christmas white house says encouraged by talks with senator joe manchin joining me mo congressman jason smith ranking member budget committee will democrats be able to ever push this gill through? or just slivers maybe child lawns pre-k? >> boy i insure hope "build back better" that passed out of house of representatives never makes it through as senator graham and myself exposed last friday the true cost of this legislation, being five trillion dollars
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adding three trillion dollars to the national debt american people don't want it members of congress even democrat side don't want it surely it won't pass. >> the other blow revelation scoring out, consumer prices running at pace not scene in 40 years that was another nail if you will in the coffin of this bill. >> you know absolutely, when you talk to americans, they are struggling whenever supermarket put food on table, gasoline in considers a, the highest spike in inflation, in 40 years is drastically having effect on real americans and then, cbo score 5 trillion dollars, with gimmicks that they have in it, saying that -- say the child tax credit, the democrats, in house of representatives said going to cost 185 billion cbo
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says 1.6 trillion a huge difference. dagen: big difference, nobody thought that child allowance would last a year sean duffy i also, speaking to inflation, the elites in d.c. inconvenience for a large part of the country hardship inflation. >> americans who are poor, that working class put a lot more salary into gas in car food on table inflation comforts more than rich people, but congressman i am interested in gimmicks in this bill the fact that, you know, right we have taxes that go 10 years but spend going for one year like you mentioned, child tax credit. does any democrat in the house floor or in senate say, of course, we're not going to extend that 10 years, of course, isn't a trillion-dollar deficit bill they readily admit that;
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right? >> sean that is exactly why senator graham and i asked for true score every democrat said they intended to make all of those budget gimmicks permanent warrant going to allow child tax credit to sunset one year do not want to have to pay for it now my question is, is like, are you going to make it permanent or not? it is basically either pull rug out from american families or trying to pull wool over their eyes one way or the other the real truth out there american people not having it. dagen: the democrats, congressman misread joe manchin, they are trying to pin it on him on him and kyrsten sinema, when -- they -- sorry -- when they were, they do not write the bill, weren't completely written and
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was be the fully vetted by senate parliamentarian, promising a vote by christmas. >> i would say joe manchin was been clear from day one has not wanted a bill large than 1 1/2 trillion dollars, that has no gimmicks that is truly a one and a half trillion-dollar bill over 10 years, he has said that from day one, the bill that passed out of the house of representatives, it may have showed 1.75 on paper, but as we saw with cbo score last friday it is five trillion dollars bill joe manchin has been consistent apparently chuck schumer nancy pelosi everyone else not paying taking places to him. dagen: they are not they called it cbo score that you delivered fake, it is reality. that score is not fake. it is reality. what is fake are budget -- the accounting shenanigans, phaseouts democrats were trying to use to push this
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monstrosity through. congressman we've got to jump have a happy holiday season -- >> what? >> have a merry christmas great to be with you all. >> great to see you thanks so much congressman jason smith top critic critic trends in new year. >> don't mismaria bartiromo exclusive interview with president donald trump on sun. "mornings with maria." . carl, say hi to nina, our schwab financial consultant. hm... i know how difficult these calls can be. not with schwab. nina made it easier to set up our financial plan. we can check in on it anytime. it changes when our goals change. planning can't be that easy. actually, it can be, carl. look forward to planning with schwab. schwab! ♪♪ ♪ ♪
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>> welcome back, i am dagen mcdowell in for maria bartiromo. friday, december 17, a look at markets at the bottom of the hour, one hour ahead of the opening bell, futures under pressure all morning long a triple-digit loss on dow futures, and on nasdaq 100 futures loss more than 1%, take a look at yield, on the 10-year treasury, it fell below 1.4%, this morning,
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investors moving into safe assets, worries about omicron variant kind of taking center stage this morning, the 10-year yield on track to finish today, at a two-week low, so much for fed causing worries about higher rates european markets mixed foots 100 pass toy 100 positive territory nikkei in japan losing almost 1.8% biggest loser there, new york governor kathy hochul ignoring voters as she pushes for mail-in voting reform cheryl: that is right hochul wajts all new yorkers to be able to vote by mail no questions asked, this week voters rejected a proposal that we have permitted for all
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registered voters, passing a bill allows noncitizens to vote in local elections, kellogg, workers reform tentative agreement on five-year contract cost of living adjustment, the nearly 1400 cereal plant workers on strike since october, they rejected a previous tentative agreement earlier the stock premarket, it is fractionally lower this morning. a search warrant for alec baldwin's phone following fatal shooting of cinematographer hutchins sheriffs saying they believe key conversation evidence related to shooting may be on that phone, looking to investigate any call los angeles text messages photos private social media messages that have to do with the movie. finally melania trump joining
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in on the craze. >> look forward, encourage -- former first lady announcing yesterday going to sell token to digital watercolor painting of her eyes there it is for 175 dollars and 87 cents, a portion donating to support, available through december 31, tore plans for the future back over to you. dagen: thank you so much perdue university president a daniels rebukeing treatment of one student by fellow chinese student and chinese communist party stay on bullied after he praiseds no kwho protested in tiananmen square in 1989 parents reportedly questioned by china ministry of state security, former undersecretary of state for economic growth energy and environment keith joins us now, keith it is outrage that one individual, in the united states, would be bullied for
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this but good on daniel for standing up for freedom of speech and expression on u.s. so i will. >> absolutely right, one of the leaders "wall street journal" calls him most innovative you university president in america, this i was undersecretary of state sent letter to all universities governing boundaries i ways chairman at perdue do not know about this before i entered government do not know about intellectual property theft all confucius centers those kinds of things. with -- with this shows is
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great courage one of the few university president will speak out on this, and you know one of the things that he said, was that you know those that deny those rights let alone, foreign government in repressing them need to pursue education elsewhere took a hard stand also said that if they find out, who did this, it is going to be -- disciplinarian action anybody who reports students who talk freedom of expression that back in home kungz will be sanctioned. home countries will be sanctioned, not one isolated incident of chinese students speaking up for freedom then being target, of the ccp, or communist sympathizers however, you can't to characterize it.
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how prevalent is this on campuses? >> dagen, with we were able to see it is literally almost on every campus. and that is one of the reasons why i wrote that note, confucius centers those kinds of things, you know. mitch do not find out until reading the article in paper how suppressed this is, it is everywhere, ironically i am going back to purdue this weekend, i am going to give an address at winter graduation, i am going to say a electrify things about this, this is really, really a big deal. and if there is anything i learned being chairman of the boards of trustees at perdue it is that -- you know, academic freedom and freedom of speech, is sacrosanct.
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>> it is, sean duffy jump. >>. thank you, china has policies -- without -- any concern for pushback or retribution from this country, right, again you have students doing work of communist party for students that might speak out in america my wife was at a speech, and one of the communist exchange students came to talk to her after tell her his opinions he do not want to say publicly, in case someone else heard him say it right? we also have nike countries selling out to china thinking hollywood will change of how they make film messages in films to appease chinese isn't it time america to wake up to how bad chinese are, not confined to borders they are expanding their ideological reach into our country. >> you are right it is pervasive if you think about it if corporate
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responsibility, responsibility for example, why are we still financing genocide why asset managers, talk a good game about protecting human rights fail to comply with human rights, particularly when it comes to -- >> why what happens to esg community spoken about standards when it comes to human rights abuses genocide in xinjiang, for 20 years, i just wrote an op-ed, in "newsweek," on this, i looked all over the web site. not a word was said about human rights abuses or genocide in xinjiang he supposed to be preeminent gathering for indomitable social responsibility for governments corporations, everywhere, initiatives, highest stands of governance. so i think those are the world is beginning to wake up, a
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little bit, to the -- what i call xhooument party three c's on dr. con sealment could coption, coercion. >> i had a talk with a man driving an uber had information on back of the seat for passengers to read it was opposition to chinese communist party. and it was encouraging, people to read up on the atrocities committed by the party, something like if you want to prevent another coronavirus pandemic you will pay attention to what the ccp is doing, and i asked him, and i said are you from china he said yep but i can't go back i was persecuted there, i said i am glad that you feel that you can share your story here, and that you are taking advantage of those freedoms. that we hold so dear that, you know, that are anathema to
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chinese communist party. >> you are really right, and you know dagen, i think you know i was the first public official to call out genocide, from these executive branch, july 4, 2020. and you know one of the things i was able to see as we put together the clean network of alliance of democracies that defeated china's master plan to control 5g, went to 60 countries last fall i could see citizens waking up to -- you know -- i think citizens understand it, pandemic result of con sealment of the virus coption hong kong resulted of
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that resulting in loss of freedoms, one of the most unified issue, i was debriefing lawmakers on capitol hill on this. dagen: keith great of you to be here this morning. thank you so much, always we will see you again very soon, keith krach. >> happy holidays. >> you as well coming up crypto for everybody one company using capital from crypto to have help bring more women into the market we tell you more about it plus beginning of the gift of a good boy, one pet owner tradition with pups unwrapping holiday cheer all over tiktok big buzz of the morning we will show you later stay with us. .
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hey google. ♪ ♪ ♪ ♪ ♪ ♪ when it comes to autism, finding the right words can be tough. finding understanding doesn't have to be. together, we can create a kinder,
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powering possibilities.
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cryptocurrency, notable this year insight into what might be in store for 2022 joining me okay coin ceo what is top
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trend into the new year. >> you continue to see in 2022, across the board, bitcoin building on top of bitcoin alongside bitcoin, one protocol, and on layers as well as continued innovation, in the universe. >> i am going to be very up front i am a crypto skepticic i believe in distributed larger blockchain but in terms of cryptocurrency, i think this is really a craze i know you had tre getting i am crews are what are you seeing? are you seeing people fundamentally understand what they are investing in, or is this more of just like throwing money in hopes of making a lot of money in the process? >> i think to your question i think a question that actually
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should be taken apart, there are obviously, follow-on to really believe in what crypto is building, it is building a more democratizing future more control over value they create, there are first just like every other market they won't be looking for short-term value, sources like scribed part of every industry. dagen: over last year you've seen a i speak in laplarity nonbitcoin crypto tell us more about rise of alternative coins, what are some of them to watch? >> sure, bitcoin way we see it is foundation, monetary layers bring freedom as well to everyone, however, we also seeing people building on top
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of it, actually, account on bitcoin there are also, people who are building alongside bitcoin, for example -- building alongside ethereum bringing contractability to us all around crypto different competing contracts trying to build smart contractability i think a very early stage we're seeing like what we have seen, with internet, so there will be a lot ups and downs people ahead of expectations but this is a very exciting moment. >> you focused your mission next phase to make the industry more inclusive for women, as investors, or in -- as like, actual executives and employees in the field?
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>> yes, absolutely, about the as a matter of fact we see women strong female leaders in this space, however i think the perception is very much crypto very much -- i think very important, that we -- at the perception there are intention to help women participants make voice heard to feel this is actually not a -- but still trade, and secondly we are with zuckerberg in future more female leaders in space to help bring women, into the space, to give them opportunity to learn, to take that first initial step which is very important. dagen: thank you for being here this morning great to see you. please come back. thank you. >> coming up spreading christmas cheer one puppy present at a time one dog's dad celebrates holidays with his pup making the big buzz
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this morning. ♪♪ okay coin next week "mornings with maria" monday vladimir putin where he will celebrates russia ties to communist china why we'll show you be concerned, tuesday she calls bitcoin the rebirth of the american dream, natalie's crypto forecast. wednesday new yorkers confused gubernatorial candidate on path ahead do it yourself project in multimillion-dollar business. .
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read it carefully. maria: time for the big buzz of the morning. one dog dad shows how he gears up for christmas with his friend. a unique holiday tradition. he wraps up his dog like a christmas present to remind them both what a gift his risk you dog is. the video has 40 million views on tech talk. dale won't hold that still but charlie is a ball of lazy sloth. might be ago with charlie dog.
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sean? >> i love it. my little skippy is wild and crazy. i come home and he is jumping up and down and running around. this is an awesome superfund video. dagen: dale is part jack russell and is making trouble 24/seven. >> my dad and stepmom, i would love to see them do this and require them to wrap that gentle giant up, it is a hilarious trend. dagen: we have a working dog in the building, used to be persia, being off and lazy at
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home. dove looks like yellow labs and adorable but too big to wrap. great to see you. to your beautiful family. that does it for us, "varney and company" is always up next, taken away. stuart: good morning, everyone. this is not a good day for the democrats, the president is forced to delay build back better to next year. senator manchin forced this delay, now we have time to figure out if we want to spend trillions we don't have on expensive entitlement programs that never go away. also the parliamentarians, immigration cannot be included in the

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