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tv   Cavuto Coast to Coast  FOX Business  January 21, 2022 12:00pm-2:00pm EST

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stuart: which country has the most natural lakes? guess. >> russia. >> canada. stuart: canada is the right answer. well done. >> i google it. >> 62% of the world's lakes are in canada. it has 879,000 of them. i didn't know that. apparently you did. great week, see you next week. david asman is in for neil. what have you got? dave: have a wonderful weekend. welcome to huchul. the nasdaq going deep into connection territory. all 3 indices limping with the dow attempting to stage a rebound but it is still in the red as you can see, down 100 points. our market experts are here to tell us why investors can't
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make up their minds. we will start with oil. president biden celebrating a year in office with a new low for his approval rating. could the answer to his troubles simply be moderation? new satellite images of a military buildup on the russian ukrainian border sparking fears of an all out war. are we in for another cold war? but first, our top story this era nasdaq dropping over one% as netflix drags the index deeper into correction territory. have you seen netflix? it is down a lot. hi, jackie. >> reporter: stocks of been all over the place. there is some pressure at the moment because investors are worried after a week of selling about inflation, fed tightening and disappointing guidance from netflix.
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shares of netflix were down 20% in trading and still currently at this moment $401. the company basically said streaming competition was eating into its growth. the numbers overall were good for the quarter but that guidance is very important and remember the company raised prices in its standard plan from $13.99 to $15.49 so that is something we have to watch and there is a lot more competition out there. everyone and their mother has a streaming service. we are also seeing cryptos take a hit, bitcoin, ether, seeing a dip, the cryptos are generally volatile but remember the reason we are seeing selling in cryptos along with equities is some investors use crypto as an inflation hedge and if you think the fed is going to tighten, curb inflation, you unwind a little bit. take a look at oil prices today and they are slightly lower but crude oil at $84 a barrel, roughly a 7-year high demand ramping up, omicron fears using
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a little bit but also biden's energy policy having an impact, we are drilling less at home and more foreign oil again coming into americans hands. it is coming from russia too. senator barrasso pointed out in the last year we are taking is a lot more russian oil. listen to this. >> people will be paying more at the pump, more to heat their homes because a proven uses energy as a weapon. today we are using twice as much crude oil from russia than we were a year ago. energy prices are at a 7-year high. right now at home so i expect energy prices to go up. if putin invades, $100 a barrel is not out of the question. >> reporter: from august to
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october of 2021 the us imported average of 241,000 barrels per day from russia. compare that to 92,000 a day in the same period a year ago, not only would russia ukraine situation impact russia's supply to europe but would directly impact us here at home and that is not good news for consumers and the price at the pump. dave: definitely bad news for consumers was let's bring in senior analyst phil flynn. i am lucky enough to get your letter just about every day of the week. you begin today's that i thank mama said there would be days like today. we look at oil down one%, earlier it was down 3% so it is
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all over the place. you bring out something interesting in your letter, the international energy agency just lost 200 million barrels of oil. what happened? >> i think they are in your garage. don't know where else they could be. i like to keep a few extra barrels around but it is crazy. when you get the differential, something i've been saying for a lot of years, looking at the international energy agency data and it is like they are always underestimating demands and every time they come out with a report the price of oil sells off. they are always wrong and they are starting to realize that there are real consequences for the global economy because if we think there's more oil than there really is in the globe then investors don't invest as much in oil and if they are wrong, we end of the shortage so i think it is a big problem. dave: and it affects policy decisions. if biden and his folks who don't like fossil fuels think
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it is okay, we have enough reserves but if we get into a crunch they put the squeeze on us producers, stop the drilling that is going on in the united states and we end up with shortages. we may have supply problems right here that could cause huge lines at gas stations, people not getting enough fuel to heat their homes. >> waiting for going, we on track to have shortages. we are seeing the globe is going to be undersupplied and it is kind of crazy but probably the only thing that can alleviate that is if the globe goes into a recession and you don't want to root for a recession but make no mistake about it, oil prices are hesitant to move higher, you got the fed raising interest rates, the stock market looks very rocky here. if things don't fall apart economically we are looking at sharply higher prices next
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year. stuart: this iea report is ridiculous, they are acting like the cdc or the imf. they can't get their numbers right but we do need more oil and we need it now. that is the bottom line particularly with what is happening with russia and everything else going on with their bad inventory reports etc. so what is this administration doing about it? do you see any light under these dark clouds of the climate change policy they have with this administration? >> not seeing any major changes. i don't think there's anybody in this administration that had real experience in the energy industry. our energy secretary said that she's all about inclusive green clean energy of the future but talks little about our needs today and today, the next 10, 20 years before we get off of fossil fuels, that is hitting home right now and if you look at this, the us pulls back from the global energy space it makes the world a more
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dangerous place. we are more dependent on russia. when we don't invest, that is what happens, we tried to get a foreign oil for years, now we are back addicted to it. stuart: i wonder why they don't appoint somebody like you as secretary of energy. somebody who knows something about energy rather than a governor who doesn't know how much energy was used in a day. it is crazy. they are not appointing the right people, thank you very much. markets modeling the worst we can 50 months as investors turn away from risk. can this be turned around. mitch rochelle joining us and capital management founder and fox news contributor gary cowpalm. treasury secretary yellen sent out a tweet last night and you counter tweet, but i want to read what she said and get your reaction for our audience, she says we are experiencing a strong recovery right now, one
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of the strongest periods of economic growth in decades but none of this was given. it has taken strategic action over the past year to make all this happen. your reaction to keep in mind there may be children watching. >> it is normal. another politico that treats us like we are stupid and don't watch things or know what we are talking about, making things up just to market themselves as the end all be all he rose of the people. no mention of 7% inflation. no mention that the reason why the economy got better simple, we opened up. we opened up in a big way, florida came back, we opened up across the country. so she's not the first to look into the camera and i will use a nice word, them to market themselves, she will not be the
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last but it is depressing to watch, sometimes you just want to get the real you know what, we are not getting it is usual. stuart: the bottom line is you can't fit into the market analysts, you can't fit into investors who make their money every day trading stocks when they see problems of for that you can't to senators manchin and kristin senator made it clear on the voting bill, last week on bbb that they are not going to give president biden a blank check. i think the gridlock may turn out to be a good thing for markets. what do you think? >> generally gridlock is good for markets but there are other cross currents and what manchin and kristen sinema having common is they are in touch with their constituents and her constituents in arizona, west virginia are feeling the pain of higher food prices, higher energy prices, wages that are going up and not going up as fast as inflation and they know
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fundamentally that spending more money, deficit spending in particular is inflationary and will get us and was fire we can't get out of. secretary yellen doesn't understand that kind of fiscal policy is bad policy. dave: she understands the person she's working for and is towing his line. >> absolutely. of all this talk about spending inflation my bigger worry is we have a proposal to take $6 trillion out of a functioning economy led by the great people of this country and put it into the hands of people who have taken us to 30 trillion -- by the way, resident biden when he got to dc, we were only at $500 billion of federal debt and he voted for $29.5 trillion of the debt but we are told the rest of it will not add to the
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debt. year insanity as we are watching and now we are getting bubbles popping, markets reacting, so behind the curve and not getting it. all president biden has to do is leave us alone and let us go to work, let us do our business, let us keep more of our money and stay out of the way but it's not in the offing and i applaud manchin and kristin senator for stopping him in his tracks and hopefully the next election does the same. dave: the only thing that concerns me. i do believe gridlock is the status quo for the next year until we have the elections and then the democrats might lose both houses of congress but republicans very often has pool defeat out of the jaws of victory. it has happened time and again. i'm wondering on taxes. we still have the trump tax code at work, that is helping businesses try to claw back some of what they are losing from inflation.
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are you worried there may be enough sort of moderate or even liberal republicans to raise some of the taxes in our country? >> what is on the table is potentially raising the corporate tax rate on the marginal little bit. the big bargaining chip from the big blue states that are losing all these people is the deductibility of state and local taxes and every time the house ways and means committee gets into the chamber they start screaming at each other because there is tremendous amount of campaign contributions from blue states in a massive exodus coming out of those blue states. that the fly in the ointment from the negotiating perspective and all other tax provisions revolve around republicans and democrats from those states that want that deduction back. dave: final point.
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if powell really puts on the brakes with 5 or more rate hikes and the president did say he would backpedal this week, could we have a recession? >> yes and also we will lose the wealth effect from the market as it goes lower. my biggest worry for the last 18 months, i've been writing about and talking about, if he's ever forced to do what he doesn't want to do and that is tight. this is a guy that loves easy money, let's printing, every time the market drops he went easier now he's boston like next nuts. i hope interest rates come down on their own and are starting to a little bit but we are you there. inflation is here to stand up and pick up. dave: at some point this weekend, good to see you both. mitch mcconnell says he and president biden haven't been speaking and what needs to happen to get the communication once again.
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dave: president biden's approval rating hitting new
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lows signaling most americans disapprove of his handling of the job of his term enters your 2. hillary vaughan has more. >> reporter: mayors have a microscopic view how laws made in washington impact americans every day and we talked to some republican mayors to david think the republican party has a shot of winning over more latino support headed into 2022 and that could spell trouble for democrats heading into the midterms. >> whether you are peruvian, honduran, guatemalan, mexican, cuban, venezuelan, you know good policies when you see them and especially recognize bad policies when they are in effect. it is without question the president biden's policies are terrible for the country. >> reporter: republicans are trying to capitalize on gains
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trump made in 2020 helping the gop cut more support from latino voters, new york times op-ed explains trump's gain among hispanic saying donald trump made inroads with the latino voters because he and republican governors kept the economy open during the pandemic, cut taxes, distributed to the checks, secure the border and expedited vaccine development. hispanic voters a key demographic, one in 8 voters are hispanic and a lot of them are not happy with where the country is headed. wall street journal poll found hispanic voters have a negative outlook on the economy, 63% say it is headed in the wrong direction but president biden just this week defended his policies and said his plan, to hit the campaign trail. >> president biden: i'm going to be deeply involved in off year elections. we will be raising a lot of money, we will be making sure we are helping all those candidates.
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>> reporter: a lot of operatives say money is not going to cut it. the d ccc says they will spend $30 million trying to win back latino class but some operatives say hispanics are not buying the biden agenda. that money is just going to be wasted. dave: a tough sell no doubt. thank you very much. senate minority leader mitch mcconnell giving his take on why the president has struggled to get things done in his first year. >> the president start acting like a moderate like he campaigned we can do business. the reason we've not been speaking recently this year is because he adopted the bernie sanders prescription for america. he did that even though he got no mandate for it, 50/50 senate and a couple seat majority in the house and they couldn't get it through. dave: reaction from washington times opinion editor charlie heard, great to see you. hard to argue with that.
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i heard nothing other than some rhetoric talk, i am a capitalist and everything but in terms of pivoting away from these far left positions i didn't hear that this week from the president. did you? >> i did not and mitch mcconnell is a very wise political observer. the problem with president biden and democrats in congress is they have thrown in with bernie sanders, spent all this time talking about christensen and joe manchin who are trying to save democratic party from itself and they think that the problem. that's not the problem. the problem is they've run -- runoff with the circus led by bernie sanders and aoc. dave: i'm going to use the biden technique. bernie sanders is a socialist. bernie sanders is a socialist. if he's getting in bed with -- forgive the allusion but if he is allying himself with the socialists look at what this gallup poll which shows year
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after year the exact same numbers. 60% of americans favor capitalism over socialism and i think 38% number may be a little off but it has been the same for the past 12 years now. the president claims he comes out and says i am a capitalist but when he has policies that follow the socialist line americans don't buy it anymore. you can't fool all the people all the time. >> he can claim to be a capitalist but at the end of the day can't bernie sanders and the democrat party in washington believe the federal government is the answer to every single problem and it is the only way to fix anything in this country and that is not capitalism. that is more like socialism and dictatorship and crazy and also doesn't work. think about how much time democrats spend today talking about the filibuster.
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it's always talk about. you know has to worry about the letter? people who are pushing divisive issues that can only get 50 plus one vote in the united states senate. if you are talking about major issues with broad support both in the country and in the united states senate, if you are talking about policies that improve peoples lives on a broad scale, you don't have to worry about the filibuster. you can get huge things done with 60% of the united states senate and that is the point of the filibuster in the first place, suppress politicians in washington to work together and find broad-based support, for broad-based issues that are helpful to not just 50 plus one% of americans. dave: they don't have 50 votes because of manchin and kristen sinema, on voting rights and
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the bbb plan. i think there is gridlock for the next year until the election when it may well happen that we see a change in control of the houses. finally i got to touch on biden's refusal to accept and advance the results of the midterm elections. what is he setting up for? everybody knows they are going to get a drumming unless something very dramatic happens and americans wake up tomorrow and say i like what president biden is doing after all. are we going to see something like they were condemning coming out of trump about the last election in the 2022 midterms? is that what they are setting up for here? >> they are definitely afraid of what is going to happen but let's not forget democrats and president biden did spend the last four years claiming the previous election was illegitimate. this is on par with that but think about the idea this whole thing about, quote, voting
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rights they are working on which is not a voting rights bill to be clear, the fact that they are focusing on this shows the greatest disconnect between these politicians, democrat politicians and their own voters, what are they fighting for? they are not fighting to improve people's lives, they are fighting because they are trying to cement their own power in washington. i cannot think of any greater display of disconnect between politicians and their supporters when those politicians don't fight to improve people's lives. they fight only to preserve their own power in washington and i think voters across the board including democrats are starting to see through it and that is reflected in all these numbers and the desperation we are getting from democrats. dave: you are right, i remember hillary never accepted, you always said trump's election in
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2016 was illegitimate, it is par for the course. >> nice to have the media on your side. dave: immediate the didn't ask him a question about crime or about the border war a lot of things, unbelievable. that is a subject for another conversation. have a good weekend. the irs rolling out a controversial new security feature, selfys, the details after the break.
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stuart: that is the police. dave: tax season kicking off in a few days and a new irs requirement taking taxpayers off. online tax filers will soon have to use facial recognition to access taxes online.
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jerry willis has the details. gives me the creeps. >> you've got it right. a program by the irs will require you to scan your face and provide other additional personal details to access your tax information online. the irs has hired a third-party comedy called id me as gatekeepers to verify filers identity claiming facial recognition is the most think your way to file protect their trust in the irs is extremely low due to scandals like targeting of tea party groups by irs employees in 2013. this is leading some to question whether the information gathered by id me will be shared by the nation's largest tax collector or other federal agencies. the irs doesn't see biometrics but simply confirmations the person is legitimate and that
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is the best way to confirm that identity. >> the last line of defense is the selfy making sure it is a valid face, a mask or photo of you, making sure it matches the photo on your government id is how we keep americans safe from identity theft because the threat level increased stratospheric we. >> reporter: the only case in which information from the company's scans might be shared with federal agencies, in the case of fraud when a scanner is posing as a taxpayer. the irs says worries are overblown. and irs spokesperson saying there's been some wildly inaccurate statements regarding use of selfys related to paying and filing taxes. the irs emphasizes taxpayers can pay or file taxes without submitting a selfy or
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information to a third party identification verification company. facial recognition is the way to logon to irs.gov. child tax credits or updates on your online payments, you have to have that scanned. it is interesting because this tax processing a women used by the irs is 40 years old to. it is a big change. dave: a big change but not in the right direction. a new report showing increasing number of americans skipping college. mark meredith has details on that. >> reporter: i had a blast in college, a lot of people think it is the best four or five years of their life. new data showing fewer americans are deciding to go to college. the national student clearinghouse research center says last year 476,000 fewer americans enrolled in higher education.
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that was another drop, and since the pandemic began researchers saw 938,000 fewer people going to universities was the enrollment impact depends on the type of college, researchers say community colleges, two your programs and less competitive campuses are hit the hardest. last year private for-profit saw the biggest dip in enrollment. down 11%. >> last year it was almost all community colleges but this year was totally different. we are seeing an equal amount of decline at two year colleges and four your colleges. not the highly competitive or elite colleges, those schools are doing fine as always. >> reporter: the first lady and education secretary announcing colleges close to $200 million to help with all things covid related. the money will help basic needs
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and keep kids enrolled in college. expert say continued declines are having a real-world consequence for colleges, starting to lay off staff. whether it is for colleges down the road. dave: the cost of childcare is weighing down a lot of families with them spending a third of their income on childcare. as more people leave the workforce childcare is having a lot of trouble finding staff that are willing to work for little more than minimum wage. jeannie will, of the childcare center in iowa, in dubuque. thank you for being here. how desperate are you to find workers now? >> we are at full staffing level but it changes daily. childcare for better paying
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opportunities, to stay home because they don't see the value of minimum extra income after paying child care. dave: they themselves but before the pandemic, any trouble finding workers? >> it was challenging even then and has become more challenging during the covid pandemic. it continues to be difficult to attract and retain qualified workers. dave: the american rescue plan, $35 billion, taxpayer money, $35 billion for the childcare industry. have you seen any of that money? >> we've seen some money from that effort, worked temporarily but what we've seen legislatively, the majority of dollars going to increase
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childcare spots, there are a lot of open childcare spots, but we can't sell them because we can't find staffing that is reliable the we can retain. dave: we have to go but i have to ask what do you plan to do? have you had to cut back on staff? are you overloading the employees you have with extra kids to make up the deficit in workers? >> know, we are unable to do that. we are going through our guidelines. our solution is to find additional staffing and to do that we have to find legislative solutions. if we want that to work for us. dave: appreciate you coming on to talk about it.
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dave: we turn the market around, all the indices are in the red. the dow is down 140 points. another one.4%, 177 points and netflix really taking it on the chin down 20%. more details when we come back.
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dave: police sharing the 9/11, led to the rest of the suspected killer of ucla grad student brianna kupfer. sean smith was lounging at a park bench in pasadena when officers arrived. on the hunt has the details. >> reporter: we expect them to be arraigned on the charge of murder before the end of today. police in the da's office follow the standard timeline.
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he is in custody thanks to an intense manhunt with the help of the public, at the moment of the murder. they got help when somebody spotted smith 15 miles from the site of the brutal killing of brianna kupfer. >> i am calling because i see a gentleman who looks very similar to the person in the brianna kupfer stabbing in la. >> reporter: hundreds of people gathered yesterday outside the store where brianna kupfer was stabbed to death paying tribute to the 24-year-old and calling for the city's leadership to do more to keep the streets safe. >> scary out here and i pray for better days. >> this is got to stop. this is become the wild west.
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somebody has got to stop the crime. there is no reason for this to happen. >> reporter: as we have been reporting, sean smith had a long criminal history and appears to have slipped through the cracks in the justice system on several occasions with both democrat and republican prosecutors involved on both coasts. at least 11 arrest in south carolina including on an assault charge, a theft charge in southern california where he's free on $1,000 bail and ignoring california smith served four months for assaulting a police officer. combined with covid related prison releases and court shutdowns his freedom to move around the country and the state led him back to los angeles last thursday and ultimately to the store where brianna kupfer was working alone. brianna kupfer's heartbroken father has spoken out emotionally. he says he blames no one but
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the man who murdered his daughter. dave: thank you very much. the white house saying president biden will meet this weekend with his national security team to discuss the situation in ukraine while anthony blinken in geneva meets with the russian foreign minister. that should be an interesting conversation. benjamin always in geneva with the latest. >> reporter: no major breakthroughs, the bar had been set pretty low. there was a concession from the us. secretary blinken agreeing to deliver written response to the russians on their concerns. the same concerns as a few days ago, merely being used as a pretext for their aggression. i quiz to monitor earlier. >> tells you lies to your face. >> when it comes to the conversations we had i think
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the charitable interpretation would be sometimes we in russia have different interpretations. >> reporter: by agreeing to these letters secretary blinken has bought more time for diplomacy. the two sides agreed to meet in the coming weeks, perhaps leading to another president biden/putin meeting. russia continues to mass its troops posturing for an invasion while destabilizing ukraine from within and this economy is crumbling and as stocks go on cracks appearing between nato allies how they should respond. secretary blinken offering a diplomatic offramp, there are severe consequent of russia invaded, lavrov accusing the with of hysterics and provoking ukraine. russia is intending to invade, no idea of where or when that might be.
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dave: a for question you asked. it is a great question, but you got it out there. reaction from virginia congressman and house armed services committee member rob whitman. how can you negotiate with people with no intention of telling you the truth. >> trust and integrity is critical in serious negotiation. it doesn't exist in russia. there is a big issue we have going forward. to make sure we are defending ukraine come pushing back against this russian aggression and making sure we don't have an invasion that occurs. we are on track for an invasion. dave: the problem is the reason we are focusing on useless negotiations is the fact that we gave up a bargaining chip that we had before at the
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beginning of the biden administration which is stopping the gas line project in europe. gave them the green light. how do you recover on a strategic a strategic mistake like that. >> it gives them economic resources. you heard the united states senate vote down sanctions on the nordstrom 2 pipeline, a great opportunity to send a strong signal for an economic impact, a missed opportunity and weakens the united states's position and emboldens russia and give them economic resources they need to continue this aggressive behavior. dave: then we had president biden this week giving them a green light to something called
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the, quote, minor incursion. that was the president's word to say what might be acceptable on the part of russia. you can debate whether that is acceptable in any circumstance. to say it out loud, this is horrible negotiating tactics. >> it is absolutely stunning. when i heard those words and understood that president biden was saying a minor incursion, we will talk about it, was a signal to russia to say that is okay and russia will take advantage of that in whatever conversations, we are at a point where actions speak louder than words. always administration has done is talk about things. russia sees no action to dissuade them from doing the things they are planning on doing. things they can do with nato allies to put nato troops on
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the eastern polish border and make sure ukraine has access to intelligence surveillance and reconnaissance assets the united states has, a lot of things to proactively send a message to russia, not to do this and if they do there would be immediate impact of this not just to say a few do this it would be really bad, russia says we don't know what is really bad and then putin will put his people through pain and suffering to achieve this takeover of ukraine. dave: the bottom line is jen psaki did try to clean up with the president said but nothing she can do to clean it up is going to erase it from the mind of the flattery boot. he knows what the president said. he knows he has a free hand. we got to jump but a lot of people are worried we are getting back into cold war situation. we don't want that again. is that a real possibility here? >> some of it is real.
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russia understand one thing only, asserting power by the united states. the only way to make diplomacy work is to make sure you have a backdrop of strong national security. that is what got us past russia, what we saw during the cold war. that is what got russia to back off and would really put russia in a position, a weakened position not being able to move forward, it was us strength. moving from a position of weakness now that only emboldens russia and in the long-term doesn't help security in europe. peace through strength. dave: appreciate it, democrats beating up claims that meat produces are to claim for higher prices. we are going to be talking to a meat supply versus biden's claims are completely bogus. that when we come back. ♪♪
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last weekend, canada began preventing unvaccinated truckers from entering the country, tomorrow as you said the u.s. will start doing the same so this is really a double whammy. i want to break down what this means from a labor shortage and cost perspective for americans. we are seeing an 80,000 truck driver shortage in the u.s.. its been a major factor in those empty shelves. the current vaccination rate among u.s. truck drivers is 60% leaving nearly half of the workforce at risk with these mandates specifically at the border roughly 28,000 commercial drivers cross regularly if vaccination rates don't change half of those could be at risk of quitting or changing routes to address this carriers are shelling out money to compete for vaccinated drivers a number of canadian logistics companies are offering incentives from two grand to 10 grand which we think pass on to the consumer, and with the mandate hitting drivers in the u.s. tomorrow, we could see the same trend and less drivers make more inflation for americans. >> we've already seen about a 30% increase in some of the freight rates and we all know eventually that trickles down to the consumer. we're already sitting here with
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a 7% inflation, and now the consumer is going to be sitting here staring at more costs it's a real issue. reporter: one example of how that's playing out is transporting fruit. the cost to move fruit from california and arizona already climbed 25% since the canadian mandate went into effect. some of items that could experience a similar hike in u.s. be auto parts, produce and even chocolate. that's not good news with valentine's day coming up and of course for prices across-the-board. you know we're seeing a recent poll showing 10% of truckers saying they won't, they will quit rather than take the vaccination so this could be a permanent and expensive change to the supply chain crisis. david: unbelievable. and you know, the workplace for a trucker has only one person in it. it's the trucker. it just boggles the mind where is the science in all this kelly thank you very much. well meat producers are battling a major glut in supreme court play and that means shoppers are paying the price. our own grady trimble is live at a wholesale meat supplier in
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chicago. what are they saying about this , grady? reporter: hey, david. at the grocery store, they can't get enough meat delivered but here on the wholesale side, where they delivered these products to restaurants, they had so many reservations canceled during the omicron surge that they have too much of it. andrew nevis is the owner at northwest meat co. tell me what happened you basically have double the meat you'd like to have on hand. >> yeah, so in october prior to omicron i purchased all this product because as we know everybody wanted to get out so i bought all this product back in october had to pay for it in november about 25 to $30,000 worth of product, and then when omicron came and the cancellation all my high end steak houses canceled their reservations so as a result, i'm now sitting on all of this product that i still haven't gotten paid on. reporter: more than $20,000 worth. now switching gears to the grocery side which you don't handle but you're in the industry so you know enough about it, the biden administration has made the claim repeatedly that there's monopolistic price
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fixing going on and that's why we're paying more for meat. you say that's bologna. >> well that's not the entire story, right? at the end of the day our industry is based off efficiency you have to be efficient in order to be able to produce affordable product and when you have people in packing plants you have to spread out, you can't produce the same volume, you have trucking and labor shortage at the edema of the day you aren't producing enough supply where you'll meet the demand and as a result your prices are going to go up. reporter: david i wish you could smell it in here because it smells delicious. this meat is aging in here and soaked in whiskey. it is absolutely phenomenonal, my mouth is watering just standing here. david: i am a meat guy, and i cook the meat at home, and i tell you that looks awful good to me, and of course a lot of that's the irony is he's got a glut glut and consumers like me and millions of others are dying for meat like that. i wish this works out. somewhere when the demand is there and the supply is there,
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that should come together in this case, it's not. i hope it does, grady thank you very much. well, meanwhile president biden is pointing his finger at meat producers and the federal reserve in answer to questions this week about rising inflation he wants more regulations for those meat producers, and that's not likely to decrease inflation. let's face it, but the fed could slow inflation with rate hikes, the question is at what cost? joining us now is former reagan economist art laffer. great to see you, art, thanks for coming in. i don't know if you're a meat guy, art, but boy -- >> i am. david: it's incredible when you see demand from people like us, for the meat, and you see supply from that producer, and we can't get the two together, usually that means the governments in the middle doesn't it? >> yeah, it does, and those tomahawks look just absolutely spectacular, they are aging, and you know, they are just wonderful. such a waste. such a shame that we have an
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economy that's been so dis jointed by government regulations, and restrictions and requirements. david: and they want to increase it. president biden says the solution is to apply more regulations to the meat producer s, which would increase their costs more, not to mention their time and their effort, but that would just push prices up more, i mean, it's exactly the opposite of what you want to do. >> it is, and you know, the only thing that'll solve this at least for them right now is if we have a real economic downturn and then you might get some collapse in prices for a while, but that's a reduction in inflation that sure as heck isn't worth it. it be tragic to be able to have that happen and it looks like it might be in the offing. david: it's not a good solution by the way, our friend tom sole, the great economist, once said there are no solutions in economics, only trade-offs. one of the wisest things ever
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said about economics. the inflation now, it does appear that the president is going to back the federal reserve chairman in raising rates. that's one thing he said in the press conference that i thought was interesting, but there are trade-offs in doing that and we saw when paul volcker raised rates tremendously in the early 80s in order to cure inflation it was working, but at the same time, it came at the cost of a bad recession. is that the kind of trade-off that we're looking at here, if the fed raises rates? >> well, right today that is. the fed rates right now are very negative if you look at real rates, david. i mean, what is the rate now the 10 year bond yield is 1.75 or something like that? david: pathetically small. >> inflation is running at 7% so that means you are paying the government 5.5% to take your money. now that's just ridiculously low interest rates. if they put the rates up to
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where they should be to really restrict the rate of growth of the quantity of money or whatever else you're looking at monetary base, you'd have to have rates in the neighborhood of 12, 13% on the 10 year bond to be able to do that. no one is willing to do anything like that. that would have a material impact on asset values and cause a major downturn in the u.s. economy, and that's where these people have put themselves. you know, david? they've paid people not to work and they've taxed them if they do work so we got a lot less work and you put huge amounts of liquidity into the system, and all of that combined has led to the current situation today. david: it's a horrible mess. >> i don't see how they get out of it. they don't even talk about it because they aren't going to get out of it. david: it's like a witch's brew , you see them putting in to ads and stuff and mix it up and then you have to drink it. it's just a horrible witch's brew they put together, but one thing i should mention about what paul volcker did in the early 80s. yes, it caused a recession, but the minute that the reagan tax
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cuts kicked in, things began to turn around. if you combine rate increases to kill inflation with tax cuts, that may not be the perfect solution as tom sole said there is no perfect solution but that seems to be a good trade-off. could that happen? i know nobody in the biden administration is talking about lowering taxes but could that work? >> well, one of the real problems with the downturn in 81 and 82, i know you put it all at the feet of monetary policy but if you know taxes are going to be cut next year what do you do this year? you deferral of the income and all of the profits you can until next year which causes the downturn. i believe that 81 and 82 was just as much if not more a consequence of delaying the tax cuts. david: delaying it. >> than it was paul volcker's monetary policy but when you look at it today, david, if i maybe serious with you, you have weak leadership, weak everything in the u.s.. there is no one whose going to
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bite the bullet and do what paul volcker did, what a wonderful fed chairman he was and no one is going to do the stuff on the tax and fiscal policies that ronald regan did today. you've got to have a change in regime and by the way, that's also very true in the ukraine. now, i've been to the ukraine, i've spent time there, i'm sort of knowledgeable on it, but you know, the threat of a military action, all right, can be just as successful as a military action itself if people anticipate it. whose going to invest in ukraine today with 125,000 russian troops on the border there? no one. ukraine is going to collapse sooner or later, with this administration. they have lost the game already, david, and it worries me a lot what they're doing there, because the russian threat has already had its effect on the ukraine. they don't need to move the troops into have that effect and as you know, before porshenk
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o, he was a pro- russian president of the ukraine, and the only reason he didn't succeed is because he was so damn corrupt that they even threw him up for porshenko , now they've got zelinski, but the effect of the russian troops will in fact i don't see how it can't be effective in changing the complete role of ukraine going forward. it's already baked into the cake as far as i can see. david: art laffer from soup to nuts art goes from taxes to the federal reserve to the ukraine. you've got it all covered, art good to talk to you. he's a real renaissance man. >> thank you, david. david: art laffer you're the best, thanks a lot have a great weekend. >> thank you. david: well fox news contributor liz peek taking a task in the hill this week detailing how biden torched the trump recovery. liz joins me now to explain, so liz, first of all, biden claims he came into office not with the trump recovery, but with a collapsed economy. let's just start right there. how about his description of
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what he came into? >> yeah, and biden talks about entering the oval office with the economy on the brink of collapse. let's talk about what was actually happening at the at time in the economy. it was growing at better than 6% now it's growing at 2%. inflation was 1.4%, totally under control, now it's 7%, and i think one of the worrisome things and obvious problems is the university of michigan consumer index was about 79, pretty good level, considering what was going on in the world. now, it is at a record low since the great recession. it's under 70. that tells you that people have really lost confidence, maybe in the president but certainly in the economy. when you have 39% approval ratings on the economy as biden does now, things are not good, but he inherited an economy that was robustly recovering and he has really laid it to waste.
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david: now, we have to mention the pandemic, of course because omicron did apparently slow down retail sales. at least had a part to play in it, so how much can he blame, of course he's always looking for somebody to blame other than his own policies like any politician let's face it, but how much is omicron responsible for the slowdown in retail sales >> clearly, that's had an impact. the december retail sales which were down was a big surprise to everybody. consumers again stayed home and decided a lot of people bought things online early probably, but let's remember. omicron is not nearly as lethal as delta, and this time last year, when he took office, delta was raging. deaths were like 4,000 a day, and now it's less than half of that, david, so i mean why should that be an excuse for this president when after all, it was not considered at
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alan excuse for president trump. democrats love to say oh, worst economic results ever taking no account the fact that we had a raging pandemic that kept everybody home in locked down businesses. david: we've never done that, we've never turned off the economy the way we did back in the spring of 2020. finally, biden does claim credit for the most robust job growth of any president in their first year and there is some truth to that but we're still 3 million short of where we were in february 2019, right? >> the biggest problem in the economy right now, david, without a doubt, is a worker shortage, and as art laffer was saying, biden has made two tremendous errors. one is the overly generous benefits in the american rescue plan that kept workers on the sidelines, because millions were making more than they would have if they had gone back to work. a huge problem and the second is the vaccine mandates which have
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further complicated employment in organizations like hospitals and as you point out truckers who are by themselves all day. i mean, really some of this is so stupid you can't get your arms around it. david: that's true, liz peek, terrific piece, thank you for being here. all your pieces are great, but it's great to see you. >> thank you, david. david: thank you for being here today, have a good weekend coming up how one state is banking on a cryptocurrency incentive, the boost its worked for , details when we return. ♪ we don't see , we're just having fun, we don't care who sees ♪ as a professional bull-rider i'm used to taking chances.
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david: crypto-related etf's sinking along with a slide in digital asset prices today charlie gasparino is here with what wall street is weighing when it comes to the future of cryptocurrencies. hi, charlie. charlie: do you know that i would say since this route began in crypto, it shaved more than a trillion dollars, i think we were talking what a $3 trillion business back in a couple months ago, particularly when bitcoin
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hit that high of about $60,000. we're down to about 1.8 trillion this is a significant sell-off. if you talk to enough traders out there and particularly, i think the hedge fund guys who were all in, not all in but everybody had a position in crypto of all the big hedge funds. a lot of i'm not going to say who because i don't want to be, they don't want me touting their positions, but a few of my sources said they're out, and these are major hedge fund people. they believe that this crypto, i guess, collapse is going to go further. now, we should put a bitcoin chart up there because it's actually relevant. i know we have to do some stuff with etf's but bitcoin, yeah, and it's interesting, could we do a longer, not an intraday, but like a five year, 10 year thing, something like that because you can see how this thing is done over the past couple of years. yeah, you got one month, there you go. that's a year, i think that 10
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years be great, you know? just what's interesting, david, is that crypto is now back to trading on fundamentals, i think , and i think that's the up shot from traders and what are the fundamentals? its got to compete with the fed. the fed is raising rates, crypto used to be an inflation hedge, if you think the fed is going to get inflation under control by raising rates, that basically takes a lot of steam out of it there you go. by the way that's interesting. if you went down levels in 2020 by the way crypto would still be double from where it began, excuse me, bitcoin would still be double from where it began, so don't expect these thing, this thing could go a lot further. again, trading on fundamentals. the fed, it was once an inflation trade. when the fed starts raising rates, it literally takes the steam out of a lot of speculative assets this is one of them. i think number two is that some of it is being divorced from the blockchain and in the past, and now it's being looked at
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with the blockchain. is blockchain making the strides that we thought it should through this whole craze? you still can't buy a slice of pizza with crypto. the blockchain is knocked out universally used and i'll tell you, david, unless it becomes much more embedded into the real economy, people are going to question the cryptos and there's one other thing which is hanging over it, which i think is going to hangover it for a while and that's regulatory uncertainty. these guys don't know who should regulate it, the fed wants to do it, gary gensler wants to do this , cftc wants to do that you really need congress to step in and say we need one uber regulator and here are the rules of the road for everybody. david: bingo. charlie: put all that together, david and it ain't a pretty picture. i'm telling you, my hedge fund sources are out. david: we haven't even talked about taxes either. maybe when you buy a slice of pizza, you have to pay a tax
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penalty too. they're all kinds of problems with it, but again that blockchain technology is so revolutionary that i can't imagine some way that it would not get into the economy. charlie: david, i agree and i'm a big believer in blockchain; however, the advancements of crypto, like we hear more about the crypto than we hear about the blockchain. it has reverse itself. david: such a great point. what a terrific point that is. charlie: thank you. david: books have been written on blockchain. it is an incredible revolutionary technique. it just doesn't have a place yet , exactly. it's a great question. we got to leave it open. charlie: just one more thing. how much advancement in blockchain has there been between three years ago and today? i don't think anybody knows that answer. david: well they have been focusing a lot on crypto and not enough on blockchain perhaps but you bring up a great point and that's what people have to focus
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on is finding a place and the market will. the market will find a place for blockchain it may not be -- charlie: we don't need the government. they should just let the thing ride up and down. that's the best way. david: i agree 100% charlie great stuff thank you very much i appreciate it. as more and more companies look to get into crypto, more and more states are looking to crypto to bring in more workers. let's bring in northwest arkansas council president ceo nelson peacock. so nelson, you want to use it as a lure to bring in workers. explain. >> well absolutely. we're here in northwest arkansas has a really strong economy founded by our built on walmart, tyson, j. b. hunt and the university of arkansas here and we need tech talent to fill current jobs and build the economy of the future and we believe by offering an incentive award to relocate here to take a look at northwest arkansas in cryptocurrency, we're going to identify individuals with an interest and skillset in blockchain so that they can come
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here and have an exciting career and a good quality of life so that's what the we're hoping to do. david: i don't want to rain on your parade but i don't know if you just heard charlie gasparino 's report there are headwinds against cryptos right now, we see it down by $3,000 today, it's going through a rough patch. might you if it continues to go in that rough patch might you reconsider this program? >> well, the recipient would have the option to just take cash, of course, but we're looking at it not necessarily from the days trading up and down any given day. we're looking at it as a long term play and we believe over the long term, blockchain has a potential to revolutionize what's going on in the business community and that's important to our existing legacy businesses and also as we attract more talent to grow new businesses. david: by the way i just talked to governor of iowa earlier this week. she is focusing on tax policy to bring in workers and businesses. she has eight different various
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tax levels right now, income tax brackets. you have six. she wants to go to a flat tax and lower that to just 4%. how about a tax incentive to bring workers and businesses in? >> well we have talked about that for new workers. there's a tax credit you can get for creating new jobs here, for companies that relocate here , but we have talked to the governor about potentially having i guess a tax break for workers that relocate here. we weren't able to get that done in the last legislative session so we'll look at that again in a couple years when the legislature meets again. david: or when governor sarah huckabee is governor. nelson peacock good to see you thank you very much i appreciate it. we've got a quick market check for you before we go to a break. amazon falling into bear market territory. now, well off its record close in july of last year.
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more cavuto "coast to coast" when we continue. ♪ come from the land down under, ♪
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david: combating the coronavirus, the cdc releasing new data today about the effectiveness of booster shots against the omicron variant. fox news correspondent jonathan serrie is live in atlanta with the very latest. hi jonathan. reporter: hi there, david two years after the first u.s. case of covid-19 was confirmed, federal health officials are reporting around 740,000 new daily cases, that's a seven-day average driven largely by the highly-infectious omicron variant which now accounts for 99.5% of all cases in the u.s.. despite increased breakthrough infections while
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the delta and omicron variants predominated new cdc data show a third dose of the pfizer or moderna vaccines, in other words the mrna vaccines, were highly effective in preventing hospitalizations. take a listen. >> both the delta and omicron variant, there was a decline in vaccine effectiveness against hospitalization overtime, but following a third dose, vaccine effectiveness against hospitalization with omicron increased to 90%, nearly matching the effectiveness against the delta variant and even higher than vaccine effectiveness after the first two doses of the mrna vaccine. reporter: new modeling from the mayo clinic predicts the omicron surge will peak before the end of january, followed by a steep drop in cases but forecasters caution similar numbers of people will be infected on the way down as they were on the way up, so not a time to let down your guard. it's also unclear what will happen months from now with the possibility of future
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variants arising, but researcher s say as more treatments become available the u.s. will be in a better place to deal with it. >> changes so much as gradual peoples, we're going to be able to improve our vaccines and we will have more antiviral drugs in the research pipeline coming along. reporter: with breakthrough infections, and many people still unvaccinated, there will always be a need for treatments but dr. shafner says prevention is always much better, david back to you. david: jonathan thank you very much well new changes for healthcare workers in new jersey, as the governor is now requiring those workers to be up-to-date on covid vaccines and booster shots by february 28. let's bring in dr. marc siegel for more on this , so the governor is now also taking away daily tests as an alternative to this , so you really have no way out if you're a government worker,
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vaccines and a booster or else. what do you think about this? >> i don't think it's broad enough, david, and you just said why. let's start off by recognizing our healthcare heros for what they've been through throughout the pandemic and we're starting to see attrition, people that are retiring, quitting, overwhelmed, exhausted, depressed those numbers are increasing and on top of that, if they are superimposed victims coming from the governor in the state of new jersey that's a problem. here's what needs to happen instead. you need to count someone that's gotten over covid, natural immunity because they have protection against omicron. david: bingo. >> you also have to recognize that the booster, even though you just heard from jonathan ser rie, that it prevents hospitalization by 90% a number i believe, because we saw that from the uk, that doesn't mean it prevents spread, so even if you recently boosted, you could still get this , and spread it. it's the whole purpose of this is to protect the public
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workplace, keep it safe. you'd have to have a number closer to 100% about decreasing spread before you could say it was for workplace safety, so the vaccines how recently were they boosted what exactly is the underlying medical condition of the person, all of this would have to go into account here and then your point, where's the testing option because you know what's more accurate than a recent vaccine? a negative test. david: yeah. >> if you put that on the table , you would know he was not being political. david: i agree, absolutely. there's also a problem with hospital shortages, the staff shortages yes some people are just worn out and quitting, but 30,000 workers in new york healthcare system have left as a result of the vaccine mandates, and now, what's incredibly ridiculous is you have some hospitals who are letting infect ed vaccinated workers come back, even though they are still infected instead of bringing back non-vaxxed workers that might have natural immunity. >> well that's an amazing
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irony isn't it? somebody getting over infection but is still infectious is clearly more of a risk to the workplace than somebody that hasn't been vaccinated and isn't sick and doesn't have the virus. that's why the testing option makes so much sense as an alternative, plus again, let's count the immunity you get from infection. the way other countries do the way israel does, the way the european union does. the european union has been so ridiculous with their restrictions and yet, they count natural immunity. david: bingo. final question on monoclonal antibodies which i have to admit , i took it, my wife took it, it's a miracle drug. it cured my symptoms within 24 hours. the federal government took over distribution of this miracle drug and now, a lot of hospitals simply can't get it. a lot of states can't get it. we famously heard about the dispute with the florida surgeon general claiming that the federal government was working against the state's policies and providing it for their citizens. why didn't the federal government leave well enough
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alone? it was working. it was a tremendous help to healthcare workers, keeping people out of hospitals. why did the federal government have to get into the distribution business of this? >> they didn't, and especially it was working in florida by the way under governor desantis, they had clinics setup everywhere and then the antibod ies started being pulled back and another thing from the science, gsk's drug works way better against omicron than the other two regeneron and lilly so when they started re distributing the antibodies guess what it wasn't only sitrov omob. i today was trying to order this antibody on somebody that needed it. it's impossible to get it, to get it into the system, to get it into the patient's arm. but we're still not where we need to be on this and you're absolutely right. it has to be distributed by the states, not by the federal government. that's not where they belong. david: yeah, well it's keeping people, i mean, when it was available it was keeping people out of hospitals. >> it works. david: now it's putting people in hospitals.
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doctor great to see you again thank you so much for coming in appreciate it. after the break, the president calling a fox news question about the tensions in russia " stupid." joe concha sounding off on the president's pushback didn't sound very gentlemanly, when we come back. at fidelity, your dedicated advisor will work with you on a comprehensive wealth plan across your full financial picture. a plan with tax-smart investing strategies designed to help you keep more of what you earn. this is the planning effect. whether you've enjoyed the legendary terrain in telluride, the unparalleled landscape of park city or the famed peaks of whistler, you face the hassle of lugging your gear through the airport. with ship skis, you're just a few clicks away from having your skis, snowboard and luggage shipped from your doorstep to your destination. with unrivaled pricing, real time tracking, ship skis delivers hassle-free.
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♪ feel stuck with credit card debt? ♪ move your high-interest debt to a sofi personal loan. earn $10 just for viewing your rate — and get your money right. ♪ >> david: president biden snapping at our own jacqui heinrich for what he called a stupid question on tensions between ukraine and russia let's bring in fox news contribute or , joe concha. so much for a return to civility , ha? >> yeah, and look, it's a natural thing for a human being, david particularly men to become less patient, more as they get older as the problem this
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isn't grouchy mr. applebe down the block, this is the president of the united states the same guy who promised on day one to fully respect members of the free press and we saw it during the press conference, now we see it with jacqui heinrich highly respected and these reporters are asking perfectly reasonable questions, and by the way this is another natural human behavior. those who yell down arguments are usually on the defensive, right? why wouldn't he be. there's a poll out this week that shows that seven in 10 americans don't want to see him run again in 2024. he's at 25% approval among independents so overall from a communications perspective, david, this president continually mistakes volume for decisiveness, and it comes across as awkward and angry and that ain't a good combination. david: and it's more than off the cuff incivility as we saw against jackie. when he was speaking in atlanta last week, he made a comparison between those who opposed his voters law including democrats by the way, like manchin and
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sinema to racist and the head of the confederate army, as a matter of fact. jefferson davis, so i mean, and then, in his press conference this week, he denied that he meant that. i mean, it was so clear, was it not? >> absolutely. that's why he got so angry. he thought that okay, if i yell at this reporter enough and point my finger and say go back and read what i said, well, that's going to change things, right? no, even democrats said he went too far from app sharpton to david axlerod who used to be basically the brains behind the obama-biden administration, so yeah, he got flack from that all around and if i'm manchin or sinema i'm more grounded and not going along with this legislation because now, i've been compared to jefferson davis. it's just not a good strategy, but it's almost as if it's like twitter now except a human being speaking, like aoc on twitter but coming out of biden's mouth. david: we don't want to
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completely let the mainstream media off the hook because they had no questions on came, no questions on the border, zero questions on crime or the border. these are issues that the american people care greatly about, for good reason. it's their lives. it's their future security et cetera. does the press carat at all about what the people care about >> no, i think, you know, many of them live in these ivory towers, bubbles mainly national media that covers politics is either in washington or new york and you think about the way those cities voted in the last election where donald trump i think was in single-digits in manhattan or in washington d.c. , so when you're around all the same people, you tend to think the same way, but yeah, that border question particularly bothered me that that wasn't asked and i would have gone a step further because there are consequences for all these people, 2.2 million coming into the country last year besides the obvious points in terms of using resources and that is fentanyl and fentanyl came over also in record numbers and now people between the ages
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of 18-49, david that is the leading cause of death as a result. americans are dying, 100,000 last year from fentanyl overdose s, that has to be asked because that's impacting everybody, maybe you don't have somebody in your family that died of it but you certainly know somebody who did but the press is out of touch. david: i agree joe concha good to see you joe thank you very much have a good weekend. well after the break president biden about to address the growing crime surge with mayors across the country, what florida republican congresswoman cat camman hopes to hear when we come back. 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. allergies don't have to be scary.
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david: president biden about to address the nation's growing crime crisis with mayors across the country. this is the nypd still searching for the surveillances who shot an 11 month old baby girl in the bronx. fox news correspondent bryan llenas is here with the very latest on that story, brian? reporter: david look there were over 1,800 shooting victims in new york city in 2021, and shooting incidents are up 15% compared to the same time last year. yesterday at the same conference of mayors that president biden is addressing today, new york city mayor eric adams called gun violence a cancer and he added
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that federal and state law enforcement agencies should start treating gun violence like they do terror attacks. >> the same that stops planes from flying into our buildings must be used to stop bullets from highways of death and our country particularly in black and brown and poorer communities let's show that same energy. >> [applause] reporter: three nypd police officers have been shot in the first three weeks of 2022. the 16-year-old who allegedly shot an nypd officer on tuesday night in the bronx was given a $200,000 bail, despite having a history of gun charges. the police union blasting the judge for granting him that bail, and critics have panned new york state's bail reform law as too lenient and they've criticized manhattan's district attorney alvin bragg, who says he wants to stop prosecuting lower level crimes and limit and bring down the incarceration rate after backlash, bragg
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attempted to clarify his policies yesterday. >> we will be prosecuting all robberies with gun as a felony. let me be clear. any use of a gun to rob a store by definition, is and must be and will be treated seriously what we need to focus on, like a laser, the truly violent activity that is hitting too many of our communities in manhattan. reporter: white house press secretary jen psaki told fox news, david, that president biden today will not weigh in on any district attorney's crime policy. david: that's incredible. that's the heart of the matter, brian, thank you very much, florida republican congresswoman kat cammack. congresswoman first of all as horrible as the gun crimes are and there are far too many of them and speaker pelosi is speaking about gun violence, et cetera, it's more than just guns i mean, let's look at these recent killings. michelle goh, in new york city, pushed in front of a subway to
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her death. sandra shells a 70-year-old woman in la beat to death on a street corner. brianna kupfer was also in los angeles stabbed to death. no guns. the problem is not guns, the problem is a violent criminals who kill people. that's the problem, no? >> well you're 100% right, david. i mean, this issue hits particularly close to home for me being the wife of a swat medic and firefighter. my husband is on the front lines every single day, but the reality is is that these politicians, like nancy pelosi and joe biden, a 40 year career politician, they can talk about community safety from the safety of their armored cadillac escalade and fancy limos, but we know what the reality is. just this past year i've done a dozen ride-alongs and i have seen first-hand in communities across the country the frustrations from our law enforcement the lack of support the sky rocket in crime and we
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saw in 2020 the democrats campaigned on defunding the police, and they did it. in march of last year, they voted and passed out of the house a bill to defund the police. that makes our communities less safe. that makes people not want to get into law enforcement, and we know that guns are not the problem. it's violence and a lack of enforcement and lack of resources for our local communities. that's the root of it not the guns. david: and it's violent criminals getting out again and again and again, and that's the result of these radical district attorneys that neither biden nor pelosi are willing to speak against. >> which is really a shame, because that is, like you said, at the heart of it. we see these liberal da's that have been put in place by people like george soros, funded, campaigns have been funded to majority ic these liberal policies like so-called bail reform common place and mainstream but look at what happened in wisconsin, the christmas parade and the mainstream media didn't want to cover it, it was a car, it
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wasn't the individual they called it the car creating the violence but these are career criminals. the grad student in california just stabbed tragically was a career criminal who was out on bail. we need to address the da's that are basically taking these criminals putting them right back on the streets and why are law enforcement going to continue to do the dangerous job of apprehending these individuals if they are just going to be right back on the streets. it doesn't make any sense. david: there's a rumor that seems to have no shame and that's the femininists who aren't saying anything about the massogeny of the violent men killing innocent unprotected women and these da's are enabl ing those massogenous. that's the worst killing defense less women, quickly. >> absolutely, you know, and well-armed woman is a woman who can defend herself. she's not going to have to wait the minute that it takes for 911 to respond. the femininists have been silent when it comes to issues of
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trafficking at our border and crime on our streets. its got to stop and we need to get hads a hold of this crime surge. david: congresswoman kat cammack, good to see you, quick market check before we go, as you can see the dow is down 156 points, and the yield is down, it's well-below 1.8, 1.756 right now, on a 10 year treasury and these are the lowest levels since january 13, we'll be right back. i'm searching for info on options trading, and look, it feels like i'm just wasting time. that's why td ameritrade designed a first-of-its-kind, personalized education center. oh. their award-winning content is tailored to fit your investing goals and interests. and it learns with you, so as you become smarter, so do its recommendations. so it's like my streaming service. well except now you're binge learning. see how you can become a smarter investor with a personalized education from td ameritrade. visit tdameritrade.com/learn ♪ your shipping manager left to “find themself.”
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david: things could change but so far bad day for stocks take a look at netflix shares today though netflix the big company like netflix down 21%, the company currently on pace to see its worst trading day since july of 2012 and amazon not down as much percentage wise about 4% down but it is off about 22% from its high in july, so i'm hoping that charles payne can turn this market around charles it's up to you. charlie: i'm going to turn my back david i promise you have a great weekend. good afternoon, everyone. i'm charles payne, this is " making money" and breaking right now the market has shown some grit today it climbed off a couple of times including bouncing off that 200 day moving average but the gravitational pull is like a black hole. the question is when will it stop, we've got great folks to help us out here maine while, the peloton saga just the latest reason individual investors feel like they are being played so i'll ask the best of wall street why main street should stay the course and if you do, when do we start to buy this dip? now, at

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