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tv   Mornings With Maria Bartiromo  FOX Business  October 28, 2022 7:00am-8:00am EDT

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we're still suffering with nursing shortages and supply chain problems, it does implicate a political conclusion and i think that's why you're not hearing a lot about this topic from one side of the aisle. we're going to have hearings in congress. there's a lot of interest and it's going to focus on two issues. the origins of the virus and also school closures which is the other giant tragedy of covid policy. maria: total tragedy, dr. makary. and new york governor kathy hochul now has the nerve to push parents to put their children in masks again. headed into the winter. here's what she said this week. watch this. >> kids are more socialized with the idea of wearing a mask. it's not as strange to them, it's not -- what is this all about, there's cute masks out there. i've seen a lot of them. that's something i'm encouraging all parents to consider for their children right now. maria: unbelievable. frightening new statistics from the national assessment of education progress showing math
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scores for fourth and eighth graders dropped at the highest rate ever p between 2019 and 2022. four in 10 eighth graders cannot grasp basic math and there's the social issues around wearing the masks. she actually said that this week, encouraging parents to put masks back on the kids. >> we have an epidemic of anxiety and depression, not to mention learning loss consequences. part of that is wearing masks. when you cover faces they don't see visual cues that are important for expression. what's resulted here is a mental health crisis. i wish she would read the studies on masks in schools. they're pretty conclusive or the experience from europe. maria: marty makary, thanks for your experience and knowledge on all of this all of these years. we appreciate your time this morning. thank you, sir. we will see you soon. >> thanks. maria: the next hour of "mornings with maria" begins right now. and good friday morning, everybody. thanks very much for joining us this morning. i'm maria bartiromo. it is friday, october 28, 7:01
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on the east coast. new bank records show chinese energy firm cefc poured almost $11 million into a joint venture with hunter biden, the first son and his uncle jim, jim biden, joe biden's brother, using the cash to pay themselves six figure salaries along with a hef this bonuses, -- hefty bonuses. it would be called influence peddling. the records all part of over 200 documents releet leased by the republican -- released by republican senators chuck grassley and ron johnson for their investigation into the biden family foreign business affairs. new york post columnist miranda divine joined me yesterday on the program to discuss it. >> they've identified things like money laundering and tax evasion and foreign agent registration act violations and they've pinned them on various members of the biden family
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including the president himself and also the president's brother, jim biden, and of course hunter biden. whether or not that reaches any level is really up to i guess the republicans next year when they decide to hold investigations. maria: joining the conversation all morning long this morning is dagen mcdowell and john lonski. dagen, i've said from day one this is not a hunter biden story, this is a joe biden story. because joe biden is what they were selling. we've got e-mails, 10% held by h for the big guy, that is their initial negotiationses with cefc, who gets how much equity. we've got an e-mail that was just exposed the other day by california congressman darryl issa where jim biden is trying to get the qataris to give them money for introductions to the highest people across the world, dagen. it's all now in black and white and there's no more censorship
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of it like the social media companies including twitter tried to do right before the 2020 election. dagen: and with elon musk now in control of twitter, we can all hope that this doesn't happen again. this broad censorship to prop up a president and cover up what his family was doing. what is -- and you've talked about this among the many things that are disturbing. what is most disturbing is the fact that this influence peddling, this corruption was happening with china and by the extension the communist party there, knowing what the communist party has done to all people in the united states and what they want to do to this country in terms of, as you wrote about, wrote a book, becoming the number one super you power in the world. but it also is grotesque just on
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on the surface of it. in this report, hunter biden was paying himself $100,000 a month. jim biden was getting paid $65,000 a month. in an environment where working americans are being crushed by father and brother, joe. to look at these numbers is vomitous. maria: it really is. we don't know how long this influence peddling has been going on. we know that the deal with cefc was started while joe biden was a sitting vice president in the obama administration. so they were selling influence while he was vice president. i have to believe they were selling his influence when he was senator as well, john. so it could be going on decades. >> right. definitely. and of course this means that biden's ability to deal with the chinese is badly com compromised
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it's simply disgusting that the mainstream media has avoided these conflicts of interest in this outright corruption. you know, they're telling the young people of america that if you want to get ahead, you can't make it in the private sector, well, first of all become a woke democrat, stick very closely to their ideology, get into politics and you're free to do as you please no matter how damaging that might be to your country. maria: yeah. and look at all all of the other ways the ccp has infiltrated this country. p hunter biden and his secretary, eric swalwell and fang fang and san francisco. now you we've got a chinese police station in new york. that is the ccp police in new york. not a word about any of this from the white house so far. we are going to continue to keep a spotlight on it. another read on red hot inflation meanwhile, the p september personal consumption
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expenditures report is out this morning in an hour and-a-half. we'll get the numbers for you as they cross the tape and check in with our all-star panel on the impact. john catsimatidis is here, steve whitkoff is here, congressman buddy carter join us in 2u8 a.m. 8:00 a.m. hour to talk inflation. don't miss our all star panel. you're watching "mornings with maria" live on fox business. ♪ they customize your car insurance, so you only pay for what you need. and by switching, you could even save $652. thank you, liberty mutual. now, contestants ready? go!
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you could manufacture a whole new way of manufacturing. you could disrupt buying habits before they disrupt your business. you could fire up a new generation of start-ups. and fuel the search for what comes next. so...what are you waiting for? go. baker tilly. maria: welcome back. time for the word on wall street, top investors watching your money. joining me right now is harris financial group managing partner, jamie cox and macro intelligence two co-founder and president, jillian brigdan.
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thank you for being here. as we look ahead to the november fed meeting happening this upcoming tuesday and wednesday, the futures market pricing if in another 75 basis point rate hike next week and smaller 50 basis point hike in december. this week we know the european central bank also raised interest rates. japan left rates unchanged. your thoughts ahead of next week and the impact of all of these rate hikes. >> good morning, maria. well, look, i think the market is correctly priced. i think we're looking at a 75 basis point rate hike next week and then 50. i think the key thing around the 50 will be the tone around the messaging. this is a fed that doesn't want to necessarily drive us into recession. particularly some members of the fomc are getting increasingly nervous about that but i do believe the 50 basis point message will be delivered with a very, very hawkish tone so the sort of talk of the pivot that
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the market is desperately trying to latch onto i think is very misplaced. this is a fed where the inflation target is miles away from where it needs to be and where, frankly, the labor market remains far too robust. i mean, we just had gdp data. we have nominal gdp growing at 9 and-a-half percent. that's double anything we've seen over the last decade. however you switch those divisions around between real and inflation, real growth and inflation, those numbers are just simply too high so the fed has to keep going. they can't afford a repeat of the summer where we had the risk-on melt-up in risk which eased financial conditions again. maria: yeah but what is the impact of all of this? yesterday we spoke with jeremy siegel from wharton. he's looking for serious impact on the economy in 2023. here's jeremy siegel with me yesterday. >> the fed won't say, you know what, we have made progress, we
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don't have to stay so tight for so long. there's a lot of inflation in the pipeline. let it go through. if you try to crush t that pipeline inflation you will cause a very, very severe recession. maria: do you agree with that, a severe recession in '23? >> well, i think we're certainly looking at a recession, certainly in certain areas. i mean, one of the leading indicators i think when we look at things like the pmi, things like ism manufacturing, ism services. services have been robust but they tend to lag. manufacturing i think will dip into recessionary territory in the next round of data we get. i think we're looking at a really ayou dress i've slowdown in the -- aggressive slowdown in the housing market where we see activity, i'm not talking an '08, '09 situation but where we see construction activity slow markedly. but unfofortunately, this is the
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lesson we have to take on how you address inflation. it's not easy either. it's not even guaranteed that recession will bring inflation back to the levels which we would like. maria: well, 2% is the target. that is a long way from here. jamie, the next question has to be what do you do about it and how do you allocate capital if we are looking at a severe recession next year as jeremy siegel just pointed out? >> maria, there have been questions over the last couple years about when the transition from growth to value was going to happen and it is here. the federal reserve has raised interest rates over double what they cut them from prior to the pandemic. so you're seeing in real-time a leadership change. technology is definitely taking the brunt of the valuation change that is happening in earnings and you're going to see that -- the beginnings of what we'll see will be a steep decline in earnings over the
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next couple quarters so investors need to be very careful and hide out in sectors where that earnings potential still is there and valuations aren't so overpriced. for example, healthcare, utilities, consumer staples, your heavy defensive stocks with marked dividends. energy is probably a good place to be as well. those are going to be the places investors are going to make money over the next probably couple years and any type of market decline like we have seen over the last year and we see transitions, we see transitions of leadership groups and the leadership group over the last decked aid has been tech. coming out of it is going to be healthcare and investors need to pay particular atension to that sector because it's been both defensive and it will transition to an offensive position as we go through and sort of get through the recession. there is so much innovation thats was generated during the pandemic that will come to bear over the next 10 years. some of the different research
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and technology is going to bring about cures to diseases we thought not possible so you're going to see cures for chronic diseases and the devices that are going to allow people to manage their diseases over time, companies like dexcom, these organizations will make money and that's where investors need to concentrate. interestingly enough, chevron released earnings a little earlier today, it's probably the third largest earnings report it's ever had. energy is also going to be a big deal because europe has had its 9/11 in energy over the past six or seven months with ukraine, russia conflict. you're going to see extreme investment in energy over the next decade and those two sectors are going to be where people are going to do really well. if you're looking for investment for that time, that's where you should concentrate. good yield, good dividends, high growth potential. maria: i think you make so many great points. healthcare and energy will be the two areas we'll look at.
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you're right, chevron reported better than expected earnings this morning. exxon mobil reported better than expected earnings this morning. both stocks are trading higher this morning. we appreciate your time. thanks for the word on wall street. have a great weekend. quick break and a then hunter biden's shady ties to china and his influence peddling, how the first son pocketed millions of dollars from a lieu you consider testify joint venture with -- lucrative joint venture with the chinese communist party. michael waltz will weigh in at 8:00 a.m. on that. stay with us. ♪ uptown girl. ♪ she's been living in her white bread world. ♪ as long as anyone would
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maria: welcome back. new rules from the irs, it is raising the amount that americans can actually put into their 401-ks, that begins next year. workers can contribute up to $22,500 to their retirement plans. the 9.8% increase, the biggest jump. it's basically allowing you to save less. joining me now is americans for tax reform president, grover norquist. grover, thanks very much for being here. what's your reaction to this 401-k news during a time when inflation is rising and there's
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so much financial stress out there? >> well, the government has indexed some of the tax code to inflation going back to when president reagan passed the bill in 1981 where most of the brackets were indexed but there are a number of things that are not indexed to inflation. specifically, capital gains taxes are not indexed to inflation. you and i and everybody that 58% of people who own shares of stock in a 401-k or ira, all of those things hit -- you pay your taxes not just on the real increase but on the increase in inflation as well. for a lot of people, even before all of this massive biden inflation, 40% of what they pay capital gains taxes on were actually inflation gains, not real gains. that's an increase in the real capital gains tax. we need to get rid of that. there is legislation and the good news is, it has passed the house twice. the house once and the senate twice over the last years and
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democrats like schumer and pelosi have bo both doored it. -- endorsed it. this may be something we can agree on after the election and the democrats are looking to be able to say they did something about growth and inflation. maria: well, grover, i guess the president has been pushing this idea that he wants to hire 87,000 new irs agents. he wants $80 billion earmarked for the irs so that he can expand it. of course, there's no money for the border, the wide open border or any other border agents but he's got all this money going to the irs and he wants to raise taxes next year as part of his overall spending package which was passed into law. do you think the republicans will be able to stop any of that should they take the majority in 11 days? >> absolutely. here's the good fuse. we've done this -- good news. we've done this twice before. bill clinton came in with the majority of the the house and senate, spent and taxered too
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much, lost the house and senate. the republicans came in and took much of the spending off the table, made him reform the capital gains tax and welfare. there was massive spending restraint from where he was going to be. we got into a surplus. we had the same thing happen with obama. obama got a democrat house, senate and president. spent too much, taxed too much. obamacare a. , lost the house, lost most of the senate. when he wanted a debt ceiling increase of 2 trillion, republicans said sure, you just need to reduce spending over the next decade from what you were planning to spend by $2 trillion. that was the sequester. it was a massive spending reduction from what he wanted to do and republicans just held the line and said we're not giving you lots of money to spend. we'll give you the debt ceiling but only in return for real spending reductions from what he had hoped to do. so i think you're looking at
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something -- oh, obama continued the republican tax cuts, the bush tax cuts for two years, 100% and permanently for 85%. we're looking at something very much like that, that the republican house and/or republican t senate can do -- biden's in a much worse position than either of the other two gentlemen were. maria: i'm wondering if the markets rally big-time on a gop win because maybe it means that divided government will result in biden's agenda not getting done. grover, this president is under fire once again for all of this misinformation that he spews out every day. yesterday he took a premature victory lap on the deficit. watch this. >> my administration announced that this year the deficit fell by $1.4 trillion. the largest one year drop in american history. republican plan would add about
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$3 trillion to the deficit. $3 trillion. that's their plan. maria: grover, you know these numbers better than anybody. the committee for a responsible federal budget revealed that all of the decline in the deficit that that the president president is talking about is due to the fact that the emergency covid spending has lapsed. so it's all about the fact that the covid spending is no more and that is why you're not seeing an impact to the deficit and yet he's acting as if something he's done has actually lowered the deficit. it's just not true. >> let's be gentle. if you had raised inflation the way he did, if you shot up spending the way he did, if you had nothing to show for it, if you shut down energy production and it made europe less safe and ukraine threatened and all of these things, what would you want to talk about? you would just grab any single piece of data, however out
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out-of-context as that one is. he told us it was temporary spending. when the temporary spending he announced he cut spending. no, he didn't. spending is much higher than it was before he came into office but be gentle. he has nothing to talk about that's pleasant. he's got several -- almost two weeks before the election. he's going to have to keep saying things and it's just not going to be any fun to be him. maria: all right. well, that's one analysis, grover. it's good to see you as always. thanks very much. grover norquist joining us this morning. be gentle the. good message. quick break and then another random attack at this big apple -- in the big apple as a passenger gets shoved onto the subway tracks. but leadership still refusing to acknowledge the very real fear that new yorkers are having. new york attorney general candidate michael henry is here. we'll talk about it.
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♪ when i close my eyes it's you i see. ♪ you're referri everything i kt makes me believe. maria: tune into "mornings with maria" on november 8 as we report live on the historic 2022 midterm elections. we'll have breaking news, results and analysis from our fox business team of experts first. started flying, and we would experience turbulence. i would watch the flight attendants. if they're not nervous, then i'm not going to be nervous. financially, i'm the flight attendant in that situation. the relief that comes over people once they know they've got a guide to help them through, i definitely feel privileged to be in that position. ♪ who's on it with jardiance? we're managing type 2 diabetes and heart risk.
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maria: welcome back. tesla under investigation by federal prosecutors and securities regulators over whether it misled customers and investors about its auto pilot technology. here's cheryl with details. cheryl: the justice department is looking into whether tesla and executives misled people about the auto pilot. the journal is reporting that the securities and exchange commission is investigating the system. this technology helps drivers with steering and maintaining a
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safe distance from other vehicles but it doesn't make cars autonomous. some including the california dmv have said the language tesla uses to describe the technology risks giving driver an outsize impression of capabilities maybe, meaning it doesn't do everything you want it to do and you should pay attention when you're dri driving your tesla. tesla stock is down more than half a percent. well, the santa fe sheriff's hooffice has completed the investigation into the death of the cinemaing cinem cinemat of . baldwin accidentally shot and killed hutchins during the filming of the movie, rust.
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well, restaurants across the country reducing their hours more than 7% since 2019. new data shows dining establishments are open for 6.4 fewer hours per week, fewer than 20% of restaurants have increased their operating hours. meanwhile, prepackaged meals, daily harvest, their sales plum t eting by more than half since may of this year. this comes as the company is facing customer lawsuits over a high profile food illness incident. that happened over the summer at daily harvest. finally, there's a question for you. are these, here they are, the world's fastest shoes. check out these battery powered kicks. they're called moon walkers. they look like skates. they can be strapped onto regular shoes. moon walkers are reportedly powers by ai and there's an algorithm that allows users to walk normally without hand control at all.
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they go on sale in march of next year. is that going to make me faster in my races, maria? it's tempting. maria: i think it might track you. that's what i'm worried about. is somebody tracking where you're skating. i don't know. funny looking. thank you, cheryl. all right. more violence in new york city, meanwhile, and in particular the city's subway stations. police released surveillance video of this man they say shoved a commuter onthe subway tracks in another random attack this week. a 78-year-old man sent to the hospital after he was punched in the head while commuting. some new york officials say it's not that dangerous. watch. >> we have less, broadly speaking, less subway and numerically than before covid. he are a city every day of 5 million people plus on mass transit. we have five to six crimes. that's about the size of long as
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less. there -- los angeles. if there were five to six major felonies in los angeles we would be thrilled manuf. maria: nobody is thrilled. joining me now, candidate for new york attorney general. your reaction to what you heard from the mta official. >> the leadership is completely out-of-touch here and everyday new yorkers are living in fear. we saw on the upper east side a gentleman shoved onto the subway tracks. there's been a recent rash of subway shovings. what they are trying to do is tell everyday new yorkers there is not a crime crisis. we have robberies, assaults, shovings, slashings and what new yorkers are seeings is that crime on the subway system is off the rails and this is why new yorkers are going to vote to save the state on november 8 and dismiss people like latisha james who don't believe there is a problem even though new yorkers live in the fear every day they have to get onto a
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subway system. maria: the new york post today is endorsing lee zeldin, this morning on the post cover they write this. save our state, as they endorse lee zeldin for governor. then peggy newnan wrote a great op-ed in the journal this morning saying crime could elect a republican in new york. michael, how much are you dealing with pushback on cashless bail? latisha james is the new york attorney general and we know that cashless bail is one of the policies of the democrats. it has just blown up in their faces, putting criminals back on the street after they commit crimes. tell me about your plans, should you win the ag spot from latisha james. >> sure. so i actually was also endorsed by the new york post. i think new york post and the washington -- the wall street journal see what everyday new yorkers are seeing and it's not
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republicans, independent, it's democrats also that cashless bail and these other pro-criminal policies that latisha james has supported her whole political career are not working. she ran in 2018 2018 on cashless bail. she got what she wanted. it failed. she took the working party line which said you can't revisit cashless bail. she said she needs more data before she would revisit changes to cashless bail. that's a despicable mindset. michael henry would work to make sure district attorneys have rea source this need. she cut off resources are from republican district attorneys throughout the state. i could work in conjunction with federal and task force within if ag's office to help get crime under control. i could introduce program bills to the legislature.
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i could also use the bully pulpit. i will advocate as the attorney general of this state for the full repeal of cashless bail, the full repeal of the less is more which is a parole bill that is not working and for the amendment of the raise the age bill which led to a rash of teenage shootings. for more information, people can go to we have numerous amounts of police endorsements. it's pretty sad the chief law enforcement of the state is struggling to get any type of police union support which tells you where law enforcement stands, where the people of the state stand as far as trusting michael henry to be the person that's going to get crime under control. maria: yeah. i mean, lee zeldin said he is going to call a crime emergency in the first 100 minutes. he battled kathy hochul on stage the other night for their he debate and we want to show you a clip of that. watch. >> going to declare a crime emergency and suspend cashless bail and other of pro-criminal
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laws because there is a crime emergency. they're not being represented. this governor, who still to this moment -- we're halfway through the debate. she hasn't talked about locking up anyone committing any crimes. >> anyone who commits a crime under our laws especially with the change they made to bail has consequences. i don't know why he's that's so important to you. maria: i don't know why that's so important to you. peggy newnan this morning in the journal writes crime could elect a republican in new york going through all of the fears that we all have walking around new york. i think kathy hochul must have figured out after that debate that this is a serious issue for voters because right after the debate, apparently new york state's national guard were at penn station, they were deployed to new york city to assist overwhelmed homeless shelters dealing with the bussed in illegal migrants. the city sent up tents on randall's island.
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they remain largely empty, michael. i want to get your take on why the national guard is at penn stragsstation and in new york ar thoughts on tent cities that have been put up to house migrants. no word on why we don't have tents for the homeless who are all over the streets of new york. but we have tents for those coming from venezuela and everywhere else. >> the humanitarian crisis is sad. at the end of the day, this is a failure of leadership from the top down. the southern border needs to be closed because in addition to a migrant crisis we have a fentanyl crisis that is killing people all over the country and all over the state. all 62 counties in the state have a drug problem with drugs coming up throughout the state and the sad part is,s is the federal government has not shut down the southern border. we're treating people who are migrants better than we treat our own people, our own tax paying citizens, our own homeless and it's quite frankly despicable. we have people living in five
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star hotels and we have people that are veterans that are living here homeless. there needs to be pressure put on the federal government which apparently this administration could could care less but the southern border has to be closed and we have to deal with this but this is a failure from the federal government and unfortunately the leadership in this state does not take it serious but quite frankly we just saw kathy hochul and what she said about lee zeldin with crime. she doesn't understand. she apparently doesn't understand anything. and quite frankly that's why new yorkers as peggy pointed out on november 8 are going to vote for common sense leadership and common sense comeback and they know michael henry and lee zeldin are going to provide that. maria: yeah. all right, we'll leave it there. we'll be watching. michael, thanks very much. michael henry joining this morning ahead of his race for the new york attorney general spot november 8th. quick break, elon musk of usually takes over twitter. my next guest says the aca which significance is one of the most over-paid in history. back in a minute. ♪ she's got a ticket to ride. ♪ she's got a ticket to ride.
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dagen: elon musk officially in charge of twitter after his $44 billion takeover deal closed yesterday. musk tweeting this, quote, the
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border is freed. thats was last night. he said to be making changes to the executive team, firing the ceo of twitter, the chief financial officer and head of legal policy and trust. joining us now w wed bush secury director, dan ives. that's a pretty penny to pay for the company. can he -- well, make his bet, dan, pay off? >> i think that's almost impossible at least in the next four to five years. $44 billion for an asset that's likely worth 25 billion, it's going to go down as probably one of the most expensive and overpaid m & a deals in the history of tech. for musk, the easy part was buying twitter. the hard part is going to be fixing it. dagen: dan, let me follow up with that. i've said that the people with screw you money are the ones that are going to give us our
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freedom of speech and expression back, whether it's dave chapelle or elon musk. does it matter that -- whether he increases the value of this company even though your target? >> -- even to your target. >> for musk it ultimately is a situation where he got cold feet. he was if a deal he couldn't get out of. he recognized that the market changed dramatically. at the end of the day he now owns twitter. it's about can you build that into an a super app in order to -- similar to what we see in china. ultimate liz if you look at twitter, this has been a treadmill stock for the last decade. it's been a train wreck situation. and now he's needs to try the to turn around step by step, clearly going to an uphill battle. for tesla investors, that overhang that has been a disaster is finally over with him no longer selling tesla
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stock. maria: dan, maybe. but one of the other big concerns is about growth, right? i mean, look at these technology earnings that we saw this week. we've got a blow-up in amazon. we've got blow-up in google, all indicated an economic slowdown. amazon shares down 12%. they missed on third quarter revenue expectations, dan. putting the twitter deal aside, just looking at the prospects for these growth stocks in the coming year in the face of what many are expecting to be a severe recession, why would i want to own these stocks right now? >> maria, it's a great question. it's been a horror week for big tech. meta was a big disaster. the only standout is apple in terms of what we saw last night with iphone demand. this will be a fork in the road for big tech. some are going to get more successful, others will fall by the wayside. i think you've got to look at cloud areas that hold up like
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microsoft, cyber security, pockets of tech. it will come down to the ceos. ultimately cook is going to bet on. zuckerberg, if he's flying the plane you're probably looking for a parachute to jump out. maria: do you see this as a change in leadership like so many do? i mean, growth was the place to be for literally, dan, 15 years. i will say this. apple was a bright spot last night. this week, really for earnings. the company reported record revenue in the fourth quarter. it beat expectations on both the top and bottom line. i was focused on apple because this is an indication or a window into the supply chain, china, overall consumerism and we got a good number. the stock is up half a percent. but the question remains, do i want to own growth going forward after growth seems to be getting replaced by value right now for the first time in 15, 20 years.
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>> yeah. after a decade of just hyper growth, the clock struck midnight in terms of big tech and now how do they navigate this economic storm, recession obviously on the doorstep. that's why names like apple, microsoft anding you have some leadership in terms of cyber security and other pockets of tech but i think investors right now, it's a glass half a empty. after this week it was a moment of truth for tech and outside of apple every other tech firm failed in terms of big tech and you see it reflected in the stock and i think now it's some tough days ahead ahead. dagen: can i add one thing, maria. one of the things with outside of apple of course but like facebook or meta or whatever you want to call it, the companies that were advertising were the first movers to the downside, like kathy wood's entire portfolio is one example, right, dan? like teledoc, peloton, these
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were huge advertisers. how did people not see the impact on the bigger business by the struggles and the stumbles of the smaller ones? >> look, if you look at especially profitless tech and a lot of the work-from-home covid plays, a lot of those are down 80, 90%. if you look at the read throughs throughthrough meta and others,k many underestimated how bad it was. in terms of the leadership, zuckerberg, this is not instilling confidence. i think too much confidence in some of the ceos, but then you've got to look at guys like cook, nadella, you compare them to jeering, clear contrast -- to zuckerberg, clear contrast. maria: john lonski, jump if in here. you're studying the mack he croo stories. one of the early things you see decline in a slowing economy is advertising spending, right? >> that's correct. and of course this is warning us
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of a he slowdown by consumer spending that ought to become very apparent this holiday shopping season and this goes into 2023, consumer spending is slowing down for a very simple reason and that is we've had prices outrun wages by too wide of a margin for too long and on top of that you have interest rates, borrowing costs that are at highs that have not been seen in a very long while. maria: yeah. it's right. dan ives, thanks for joining the conversation. great to see you this morning. we so appreciate as we look at the 10 year treasury up 8 basis points at 4%. thank you, dan ives. quick break and then batter up, the world series is kicking off tonight. it's on fox. a live report from houston when we come back. ♪ buy me some peanuts and cracker jack. ♪ i don't care if i never get back. ♪ let me root, root, root for the home team. ♪ if they don't win it's a
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>> >> philadelphia phillies face off houston astros for game one major league baseball
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series ticket prices out of the park connell mcshane is live good morning to you. >> good morning maria a lot of study lines surrounding world series widest gap between two world series' teams in 1906 astros won 106 phillies 87 who can forget how they got here drama in philadelphia sunday bryce with home run to beat san diego swing of his life here in houston to face astros, they have not lost the game a single game in this entire postseason. down in field yesterday with teams working out when did we run into but a real baseball legend great reggie jackson, special adviser to astros 15 world series. do you compare think what it was like when you played versus now what do you think of the state of the game right
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now. >> oh, gosh i think that you're starting to see game kind of come back to -- a little bit of the old school. well, you see, who was manager just came back into the game, you see dusty in the world series old school manager over there on the other side. talking about rob thompson phillies dusty, of course, dusty baker astros skipper won more games than any manager in baseball history to win a world series to watch pretty good matchup ticket prices, they are out of the park over 1500 bucks on average in houston almost 3,000 when series goes back to philadelphia after game three game one on fox, tonight so will dusty baker win first world series or cinderella ride for the phillies continue we will see that love seeing


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