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tv   Cavuto Coast to Coast  FOX Business  December 12, 2022 1:00pm-2:00pm EST

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♪ just another manic monday ♪ neil: all right, not exactly, kind of a yule-tide song but it does accurately describe what's going on in the markets where the emphasis on this particular manic extreme is on the good news and the feeling that maybe it's much passion we've seen about the markets and the economy and we're all headed toward a global recession there's news out today that seem s to indicate we might just skirt that serious recession some had feared. it's still out there don't get me wrong but janet yellen for example, is among those saying that inflation in her eyes will be much lower by the end of next year. mastercard, which literally has
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money on the table to see how this sorts out says inflation has already peaked even though it will remain above, you know, pre-covid levels well into next year. now, we also have a whole wide amount of data coming out this week which could at least give us a clear indication whether all that is going to holdup. let's go to gerri willis whose following all of that. hey, gerri. gerri: neil that's right. we're following tesla shares which are off nearly 5% today as its founder and ceo elon musk becomes more and more involved with twitter, which he official ly acquired in late october. survey from saying negative opinions of tesla's brand narrowly top positive views. this as musk tries to overhaul the social media company, allowing controversial figures like donald trump back on the platform and investors they don't like these actions. the stock a one-time juggernaut that made musk the world's richest man is now closing in on
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a yearly drop for the first time in six years. meanwhile, rivian shares trading lower today as the company pauses its plans to manufacture electric vans in europe, saying it was no longer pursuing an agreement it made with mercedes benz. the two companies said monday they may still collaborate in the future. the announcement comes as the european union has raised concerns about the inflation reduction act. you know that. well, it contains a tax credit for electric vehicles assembled in north america. rivian shares are down 25% year-to-date. finally costco cfo richard galan ti hinting to wall street analysts that memberships at the wholesale retailer will go but he was coy about saying what might happen when this might happen. costco has raised its membership fees roughly every five years and seven months in the past with the most recent hike having taken place in june 2017. currently, costco gold star
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membership is 60 bucks and executive membership is $120. neil, it wouldn't stop me from getting one i've got to tell you neil: there you go. you'll get big savings there. the whole box thing is another story but that's neither here nor there gerri thank you very very much, gerri willis following that. edward lawrence with us right now because consistent theme might be noticing here is this argument that maybe this is the worst we're seeing in the inflation front among the first to echo that of course with the folks in that building behind edward right now at the white house. edward? reporter: yeah, and the treasury secretary, so the white house is pointing to gas prices that are coming back down as the reason americans are starting to see this break, but i can tell you that gas prices are still about a dollar more than when president joe biden first took office and then when you look at some of the other types of inflation that are out there, with food inflation trending higher overall, food at home, all food at home up 12.5%, cereal and baking products and dairy products up double-digits, fruit and vegetables up 9.3%. still, the treasury secretary
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adding that americans should see a break from inflation and republicans say inflation was 1.4% when president biden took office. now look at it. listen. >> first of all you have to take action, and you know, one of the things that this president, this administration, this majority does, they either take no action at all and just hope that things will cure themselves or they take the wrong action. steps that we would take, all the increased costs and all the money that have been spent. the trillions of dollars in wasteful spending. reporter: so the white house points to all the spending as the president signed into law as a way to battle inflation. so i asked this yesterday. listen. >> you had said on the inflation before the mid-terms you told me that the inflation reduction act should bring down inflation early next year so if it doesn't do that significantly , is that seen then as -- >> well first of all that's a bunch of hypotheticals you're asking. what i laid out was something that economists said by looking at the inflation reduction act,
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by examining it and understanding what it's going to do for the american people. you're bringing up a hypothetical. reporter: so maybe they're concerned about where inflation is going to be at the beginning of next year. we have a big data week coming out tomorrow, cpi inflation report and then on wednesday, we get the decision from the federal reserve. neil? neil: look at you offering your nasty hypotheticals and getting in their face, how rude of you, young man. [laughter] good job. reporter: i can hear that little beep, beep, beep, possibly backing out of early next year. neil: [laughter] good job. you kept your composure that's what counts, edward lawrence at the white house. such a good job. as does this next guest, steve forbes been the economic condition of this country right now, it doesn't seem to be getting much better in his eyes. of course he runs the ford's media empire. steve, one of the things that's interesting is with all the economic news coming out the retail inflation news and everything else, we're going to get the federal reserve meeting,
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the assumption is that it's going to hike rates this time maybe only, i say, only a half a point after one rate cut, rate hike after another, three- quarters. how do you think the markets react to that and where do we go from there? >> well the markets i think already anticipate it's going to be 50 basis points or half a percent. the real thing they are looking for tomorrow is the commentary with it. what are they saying, what are they going to hint about what they might do in the future and the markets are assuming that later next year the fed may actually start cutting interest rates because inflation is coming down, the economies slowing, so they are anticipat ing better times ahead. unfortunately, they are overlooking some of the real obstacles out there. one is energy. we better pray for a mild winter here and in europe since we're hurting oil & gas production here in the united states. regulations are still coming on, tax increase is coming on businesses at the turn of the year. savings people had extra savings during the covid lockdown when they couldn't readily spend the money are now being run down
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as well, so even though the fed may not be raising interest rates as much, they are still raising them and inflation means prices are still going up, so i think the markets maybe a little ahead of themselves hopefully their optimism will be there but i think when you look at the reality out there, the government and the federal reserve are still going in the opposite direction. bad direction of hurting economic growth instead of stimulating it. neil: you know, then the worry is looking at history as your guide in terms of inflation, and normally it doesn't go away in just a year or two, it's oftentimes takes four years or more. where are you on this? >> well i think the key thing is is the federal reserve going to stop trying to trash the economy. the fed believes that you control inflation by depressing economic activity. raising unemployment, making sure incomes don't go up as much as they were before, and that kind of nonsense. the real way you fight inflation , the way reagan did it
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in the early 80s was by stabilizing the value of the dollar, yes, and volcker the head of the federal reserve then, brought on a terrible recession in the early 80s that brought prices down but it was what volcker and the head of the federal reserve that did after that recession and stabilizing the dollar instead of undermining it and in the 70s they always undermined it so if the federal reserve then goes about undermining the dollar again, inflation will come roar ing back again. they don't understand the disease which is why we're getting all of this economic malpractice of deliberately depressing the economy. neil: you know, i worry as well, steve, about companies and others that are using this as cover to keep increasing prices. maybe some perfectly justified in doing so, but others not, and that feeds on this , does it not >> it does, and until the companies actually see that it's going to be counter productive, that it can't be a cover of hey let's raise prices and raise them some more because people know when prices are
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going up so they are going to accept it. we saw that back in the 1970s before anyone else was around. you weren't even born then, and so but circumstances do have a way of bringing businesses back to reality when customers stop buying and they realize they want to move the merchandise, they better make it more attractive in the marketplace in terms of price. neil: you know, you were mentioning energy and the big difference now is that energy prices could be stabilizing if not going down. we'll get a better read of that in the retail inflation report tomorrow, but i'm wondering if there is a disconnect here, that if we, you know, see prices on other things stabilizing but not on energy, or just the opposite , how do we interpret that and how does the fed deal with that? i just see that they're willing to err on the side of trashing the economy to get this thing under control. >> well that's the thing. it's not a vibrant economy
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that's raising the prices. it's obstacles that they are disrupting supply chains and regulations now in terms of creating things, producing things, and especially with the tax increase coming up, and also, the federal reserve not stabilizing the value of the dollar. you see the dollar going all over the place for a while, months it was surging against other currencies. now, it is weakening against other currencies. that kind of instability is very very bad for economic growth, bad for exports and imports, which a lot of countries depend on because it's very hard to hedge and sure, against that kind of volatility, so i think at some point next year the federal reserve is going to have to get together. the other central banks and say this kind of yo-yo'ing all around is hurting all of us let's try to get stability which they did for a few years back in the 1980s with this kind of in stability they will have to try to do it again. neil: good luck with that, steve , thank you very much my friend. always good. if i don't chat with you have a
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merry christmas. >> you too, thank you, neil. neil: steve forbes, by the way we talk about the push and pull on economic stories that dominate the news. the hope that inflation comes down, but part of the more troublesome part is that so does the economy. it slows down. the latest indication of that is blue apron saying it's going to lay off about 10% of its workers , and that jeep is laying off about 1,350 workers at an illinois plant, so again, this tug of war between address ing the higher prices and cutting down business activity to compensate for that and those who are optimistic including the american people and the new york fed survey that maybe we're through the worst of it. jump ball. the dow up 287 points, stay with us. ♪
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i had to do something. i started cosentyx®. cosentyx can help you move, look, and feel better... by treating the multiple symptoms of psoriatic arthritis. don't use if you're allergic to cosentyx. before starting...get checked for tuberculosis. an increased risk of infections some serious... and the lowered ability to fight them may occur. tell your doctor about an infection or symptoms... or if you've had a vaccine or plan to. tell your doctor if your crohn's disease symptoms... develop or worsen. serious allergic reactions may occur. watch me. >> from tranquillity base to the tranquil waters of the pacific the latest chapter of nasa's journey to the moon comes to a close. orion, back on earth. neil: you know what's very cool about that? it was on the 50th anniversary of the last man to walk on the moon in doing so, back in 1972 and we are returning and artamis is a step in that direction a couple more unmanned
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flights being tested before humans go up and will eventually make a moon base for this country and a host of other countries in the very very near future, so good news on that front, and a virtually flawless flight for all of 26 days. in the meantime, the space guy himself, elon musk, has some other more immediate pressing concerns and getting a lot more attention for what's going on with twitter these days, what he thinks of it and what he's discovering. susan li has been following that story. susan? >> yes, so twitter blue re-launched today and that does come with some bot control. elon musk says he's waging war against the machines and the troll armies and tweeting that a small number of humans with large bots and troll armies we are shutting down ip address es of known bad actors today and we should have done so a long time ago, absolutely agreed. now musk has always contended that bots makeup at least 20% of twitter's 200 million daily user
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s previous management at twitter said it was roughly around 5%. now one researcher that came across says almost half of elon musk's own followers 121 million are actually fake accounts so that's pretty much the same across for all big influencer accounts like kim kardashian. so this bots crackdown really coincides with the twitter blue subscription service re-launched today and that'll get a blue check mark for a price of course and it's pricier if you sign up via your iphone so 11 bucks there per month, $8 if you sign online on the website and they say it's more expensive on the iphone to makeup that 30% app store fees. now for this 11 or $8 a month you get prioritized tweets, longer videos and half of the advertisements that other people see. also, not just blue check marks but there are grey and gold check marks, and that's to identify exactly who is who, meaning companies and individuals. those are the ones that actually get those blue check marks and i'll tell you, neil, anecdotally
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in my use so far, this new anti- bot platform, i have to say there have been less spam responses on any crypto or nft type of tweets i put out the last six hours or so. neil: that's interesting. i wonder if there is a connection there. susan thank you for that, susan li following all of that. speaking of high technology and where it's going. there is a new facial recognition software program that's in effect and will soon be used i guess through airports throughout the country for all i know. the world but it is a little creepy. madison alworth following all of that at newark's liberty international airport. madison? reporter: hi, neil. tsa is getting ready to launch a nationwide network of facial recognition technology that will be part of your check-in process but privacy advocates are warning that this could be quite dangerous so when you're talking about this technology what happens is once you get to the tsa checkpoint they scan your face with the cat 2 scan. it's then compared to your
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travel document, your passport or your license. the tsa has already been testing this at airports ink across country but it's going to expand nationwide as early as next year in a statement to fox business the tsa defended the program saying, "participation in the testing of biometric technology is completely voluntary. passengers may notify a tsa officer if they do not wish to participate and instead go through the standard id verification process." we've been speaking to fliers all day here at newark airport in new jersey and what they've told me is while it might be voluntary now they feel this is where technology is headed and even though it might make them uncomfortable, it might be unavoidable. watch. >> little concerned. if it's just for travel, i get it but anything else that's a little bit privacy. >> a whole lot faster, you know , because i hate standing and waiting. >> i could see it cause some concern. we're getting surveillance everywhere though. >> we're just going to get more and more comfortable with this kind of stuff so just roll with it because it's going to
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happen anyway. reporter: you know, the question that travelers have to answer is how much privacy they are willing to forfeit in the name of efficiency and speed, but whether they like it or not tsa rolling this out like i said as early as next year. neil? neil: future is here i guess, madison, thank you very very much and the reality is here at the border. it is getting worse, but there is something to report here, more and more democrats are speaking out about what's going on there and saying it's a big mistake for the administration, not to acknowledge it's a mess there, after this. ♪ ♪ if your business kept on employees through the pandemic, can see if it may qualify for a payroll tax refund of up to $26,000 per employee. all it takes is eight minutes to get started.
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neil: all right, add another democrat to the growing list of
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those on the left concerned about the border crisis, and the fallout for the party and more specifically for the president. at the very very latest on all of this from rich edson at the white house and how they are responding. rich? reporter: good afternoon, neil. big week coming up for the white house especially a look ahead to next week. that's when title 42 is expiring that is an authority that allows the federal government to expel certain migrants back over the border when they are apprehended there. when that authority goes away, officials expect a greater surge at the border. that's on top of already historic numbers of migrants coming to the border over the past two years, and now more democrats are pushing president biden to at least head down there. >> i think he should go and i expect he will go but the more important thing is how do we solve this issue? we can start with some basic principles. a nation needs borders. those borders should be secure. at the same time we need some orderly process formation and we need to be able to recognize a
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solemn claims. reporter: the administration is reportedly asking congress for billions more in border funding. republicans have been reluctant to approve additional money saying the white house needs to work under current authority to better secure the border. the white house spokesperson says, "if republicans in congress are serious about border security they would ensure that the men and women of the department of homeland security have the resources they need to secure our border and build a safe, orderly and humane immigration system." if title 42 officially ends it would give migrants the chance to wait out their asylum claims here in the united states instead of the government expel ling them across the border likely drawing more migrants to the u.s.. in congress you with senator thom tillis and kyrsten sinema and they are working on a bipartisan proposal trying to gain some support for that, that would put more money into all of this , extend title 42, but also give a greater pathway for the
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dreamers. those are those who are brought here as children illegally living in the united states. neil? neil: rich thank you for that. let's go to brandon judd at the national border patrol council and what he makes of this. maybe this is what you've been waiting for a push on the part of the left to get the president to move. what do you think? >> yeah, we're absolutely hoping there's going to be more people that step up and say what is currently happening is absolute chaos and we can't have chaos. when you listen and you read the rhetoric coming from the white house talking about more resources, it doesn't matter. you could have border patrol agents, i could stand next to my fellow agent hand-to-hand ink across entire 2,000 miles of southwest border and if we continue catch and release if we continue to release people into the country it doesn't matter. they continue to come and when they do that they flood our resources and take all our personnel out of the field and when we don't have people in the field that's when the cartel s can exploit those gaps and get their more dangerous products across, such as fentanyl and all of the
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dangerous opioids killing so many of our citizens. neil: it looks like title 42 is going, are your guys ready for that? >> no. we're not. and that's what's so frustrating is everybody knew that title 42 was on its last leg, yet this administration didn't come up with any programs, plans, or operations to deal with it. now, they are behind the eight ball, now we know that we're going to get flooded. when you look at what's happening in el paso right now this is pre-title 42. after title 42 goes away it's going to be even more disaster and we would have never dreamed we be at where we're at now. neil: so what happens? i mean, the administration has promised to provide upwards of $3 billion. i don't know if that figure has changed, to deal with i guess whatever the repercussions of this or the influx from this. what do you think? >> no, the $3 billion just means we're going to be processing people faster, moving them through the system faster. that's just more encouragement for people to come.
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again, if we release people, if we're rewarding people for violating our laws, you hear a lot of immigration activists that say well they have to present themselves in the united states. that's true, but crossing the border illegally is a criminal act and that's what we've got to stop. we have to have an orderly immigration system where people stop crossing the border illegally and that's what we're dealing with today. neil: now what happens typically around this time of year, i mean the weather gets colder, people get a little bit more desperate. what characteristically do you look for? >> well, typically, when you look at december, december is normally our slower months. when you get into the holiday seasons, that's when we see lower illegal immigrants activity but once january comes, you know that's when you see the up-tick again. what we have to have, neil, is we have to have proper programs that don't cost the american public anything, and we can do that and this administration knows what those are. the problem is is it does not go with what the open border base
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wants. we could solve this problem tomorrow and that's been proven in the past. we just have to have an administration that has the political will to actually do what's necessary. neil: we will watch closely, brandon. thanks for helping us out and understanding the magnitude of what's at stake here. brandon judd on all of that. meanwhile, you still have a couple of weeks to go for christmas but some deals can be had in fact incredible sales can be had. i don't know if it's a sign of desperation on the part of retailers but it could be for you, after this. ♪ what if there was a community of like minded people ready to support you when you need it most? christian health care ministries is an organization with over 40 years of trusted
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this... is the planning effect. this is how it feels to have a dedicated fidelity advisor looking at your full financial picture. this is what it's like to have a comprehensive wealth plan with tax-smart investing strategies designed to help you keep more of what you earn. and set aside more for things like healthcare, or whatever comes down the road. this is "the planning effect" from fidelity. neil: all right, sometimes it's best to wait, and see what retailers will do to make your holiday shopping a little bit
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more affordable and more than a few were offering discounts and slashing sales. the likes of which we haven't seen for quite sometime. inflation or no inflation, lydia hu following it all in new york city. lydia? reporter: hey there, neil. yeah, we know the big department stores and retailers are offer ing some great discounts because they've got all that extra inventory right now. that means some of the smaller businesses are trying to keep up we have deborah conesburger here the owner of noir blanc, a boutique store in new york city. deborah, you for the first time in your 34 years are offering 30 % off some of your beautiful merchandise and a special gift with purchase. >> that's right. reporter: tell us about that and why you're doing it? >> i'm doing it to play ball, right? because that's what the stores are doing as you said and as small businesses we have to find a way to survive. we have to find a way to get into the game so what i'm doing for my customers is doing 30% sparkle and shine for the holidays 30% off beautiful looks like that, you
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have boots and be fabulous for anything and doing a give- away of these underwear so every time you purchase from the sparkle and shine you'll get a pair of these. reporter: but is it working? does it seem like it's catching the consumer's attention? >> yes, people are looking for sales. we've conditioned them to look for sales so they are looking for them so if you don't give sail you're out of the game. reporter: and you were telling me, deborah, that you are having an eye toward the short-term. you are preparing for actually a cooldown in this holiday season when you usually are selling all of your inventory out. you are adjusting your buying behavior. >> i did that because i was kind of foreshadowing this like oh, people are still not ready, they still aren't back fully. i know here because in my neighborhood you see them come back to the offices so i thought let me just step back a little bit, buy a little bit bless and so i don't end up with all of this inventory and it's really worked because people are coming in buying what the they are buying but i don't feel like i'm drowning in inventory so it's
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working, yeah. reporter: we still have about two weeks until christmas so you've got time left so it's time to see is the american consumer going to be able to step up and take advantage of these deals for shoppers that are out there looking to still get something great under the christmas tree this year. there's time left but big question is will they be able to do it credit card balances are already running high, savings rates are already depleted so we'll wait and see what happens between now and the rest of the year, neil. neil: all right, lidia, thank you very much lydia hu. charlie gasparino is probably hearing that story saying darn it i finished my holiday shopping and not going to be able to take advantage of the sales. charlie that not withstanding, big day, testimony on capitol hill that could be interesting, what are you hearing? charlie: there's an interesting behind the scenes jockeying going on here, neil, and listen some of this is speculation but it's high level speculation and i don't think i'm going too far out on the limb so just bear with me for a minute.
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carolyn ellison hired the law firm very high profile law firm named wilmer hale, okay? this is a law firm with deep ties to the u.s. attorney's office, the southern district of new york, which is doing a criminal probe on this whole thing. this is the office that has a guy named pareet baraja, former u.s. attorney for the southern district, again, that's the office doing the investigation and there's a gentleman named ajan sadi, ausa, who is one of the , was one of the top people at that office in terms of prosecuting white collar crime is now a major defense attorney. you put it all together and what people are saying, this is in the legal bar, and it's speculating but it's good, high- level speculation is that they think carolyn ellison will do a plea deal. wilmer hale charges $1,000-plus an hour. she probably, given unless she's sitting on billions of crypto
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that she cashed out, she probably doesn't have that type of bank to do a long type of drawn out years-long defense here. this is something that people think she's going to turn on sam bankman-fried and cut some sort of a plea deal. at least that's the speculation. i can't tell you. i spoke with, i put e-mails to both of her lawyers. they did not get back to me. we have a call into the u.s. attorney's office. they didn't get back to me, but it makes conceptual sense here. if you listen to sam bankman-fried over the last couple of weeks as he's been doing his media tour, he has that sarge and schultz defense. i know nothing, remember that? the hogan's heros guy and he sort of blames it on the people running alameda. if you listen to him, i should have paid more attention what's going on at alameda. i was out of the loop. guess who ran alameda? his ex-girlfriend carolyn
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ellison and we should point out she's been spotted in new york. put at that together and it looks like there's some talk on her side about cutting a deal and turning evidence on sam bankman-fried but again, we're still not there yet. the u.s. attorney hasn't charged anybody yet. there's just still active investigation. i do hear they would like to do this sooner rather than later, it's wide ranging anything from money laundering to improper transfer of customer funds out out of ftx to alameda where the gambling was going on and it's interesting, if this is the way that it goes they go from love birds to song birds. neil back to you. neil: and he is under oath when he testifies right? charlie: tomorrow, but let's see he's never under oath with journalists but let's see just how far out it goes. he's been swirly with journalist s when he's not under oath so who knows, but if you notice, he's always pointing to alameda and i don't know what
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was going on over there. you can understand why she might go this route. he owned 90% of alameda we should point out. neil: make us think, my friend. thank you very much. charlie gasparino following all of those developments. in the meantime, you know, it used to be republicans take over the house. kevin mccarthy becomes their speaker. well they have taken over the house. no firm indication yet kevin mccarthy will be their speaker. why is that? ♪
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neil: all right, apparently now we're learning that not everyone at twitter thought some of the tweets around what donald trump was saying with the january 6 on the hill that everyone was against that, or thought that he should ultimately be removed from twitter in large part because of that. it's not quite that black and white but kelly o'grady has the latest batch that seemed to indicate something was amiss, kelly? reporter: hi, good to see you, neil. so reporter bari weiss dropped
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five of the twitter files which we have all been following on the edge of your seat if you're like me, and so this is really focusing on january l 8. i want to call out a couple of things she revealed so far. there were two tweets the former president trump posted on january 8. one was the 75 million great american patriots who voted for me, america first and make america great again will have a giant voice long into the future they will not be disrespected or treated unfairly in any way, shape, or form. okay, so that's one. the second which was about an hour later says to all of those who have asked, i will not be going to the inauguration on january 20. so, here is what she's saying so those tweets twiggerred a discussion within twitter that he should be banned, based on those. now there's a lot of slack messages she's showing screen shots of a lot of frustration by
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employees he should have been banned far before. we've seen over the past couple days these drops come out but watts interesting on this i want to read a couple more is that the staff who says this in number 12, the twitter staff assigned to evaluate tweets quickly concluded that trump had not violated twitter's policies with those two tweets i just read. it easy is "from one employee, i think would have a hard time saying this is insightment" what he's referencing is insightment of violence and she then goes on to share a couple of other instances where figures of presidents or prime ministers of other countries have their tweets have been taken down but they have not actually been banned and what you're seeing is some of the stuff they put out is far worse than what the two tweets i mentioned that the president did, so it's still updating, neil, but basically what we're seeing is theres a lot of internal strife that's coming out about that decision to ban the president and that the tweets that they really took issue with did not violate twitter's policy. i'll send it back to you.
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neil: kelly thank you for that. kelly o'grady on all that. meantime we are still getting word that the deal ain't done yet. the 218 votes that kevin mccarthy needs to become the next speaker of the house, he does not yet have. aishah hasnie following that drama. it's getting a little thorny here aishah, what's going on. reporter: if not mccarthy then who, that's the question on capitol hill because mccarthy's detract or s still don't have an alternate candidate in place. no official names have been recognized just yet, but the search is in full swing here on the hill, so former house freedom caucus chair andy biggs who by the way described his own failed challenge for speakership as "chaotic" he is the one whose leading that search. he says that there's a growing number of members who think it is time for fresh blood and last week, representative bob good actually told fox there are plenty of interested parties out
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there. >> have been a number of candidates who come to us privately to let us know they would like to be considered as speaker once this clears. reporter: so the keyword is they come to them privately, not publicly yet. now mccarthy as you mentioned needs 218 votes by january 3. five republicans have already come out against him and last week, more bad news. seven more members sent him a letter with a list of demands including allowing any member of the conference to offer a motion to vacate the chair and that basically means it would force a vote of confidence on the speaker. nevertheless, mccarthy still feels confident that he can get the votes. >> we will get there. look, we had our primary where andy biggs ran against me just a couple weeks ago and we won 85% of the vote. i think what's happening right now is negotiations that people want to see certain changes and we're working through that, and we'll get there. reporter: time is running out though, neil, and because there is a potential for this to go sideways here for the gop, there
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are reports now of bipartisan talks happening to put forth a contingency candidate sort of a unity candidate to avoid minority leader hakeem jefferies from becoming speaker of the gop house, yes that can happen, in fact progressive ro khanna already came out and said he would support this candidate a republican as long as there was some concessions, some commitments made by the gop like sharing subpoena powers which we all know the gop probably would not go for. neil? neil: you know what's fascinating about this , aishah, give the relative closeness of republicans taking control of the house. there really isn't a lot of wiggle room nor for that matter for kevin mccarthy, right? reporter: no, exactly and so five people already coming out and saying publicly that they are now going to vote for him or they haven't made a commitment yet. that is already spelling trouble for him. he needs every single one of those people and now seven more have said that they want their demands met. he's got a lot of one on one
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talking to do before he gets that 218. neil: a lot. aishah thank you. phil wegman on this , real clear politics. phil, if they had to rally around the consensus figure, here steve scalise's name mentioned, where do you see this going? >> i don't think anyone knows where this is going right now, other than the simple arithmetic kevin mccarthy needs 218 votes. he doesn't have them, and conservatives are using those numbers to essentially force a messy church fight over questions of rules, procedures, who gets what committee, so on and so forth. this would have been much different if there actually had been a red wave if mccarthy had larger margins, but right now, because of the outcome of the election, because margins are so small, conservatives are essentially pressing their advantage and they are trying to get what they can while the getting is good, but as we just heard a moment ago there's
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no outside consensus candidate and not even a conservative challenger named as of yet and so for right now, this is a lot of i think inside baseball and a lot of positioning until someone actually comes out and puts their name up against mccarthy. neil: so let's say their issue is mccarthy and some aren't going to budge from this position, sometimes it's a lot of drama to sort of put the pressure on mccarthy. some are quite intent, no way they will ever vote for him. then what happens? >> well we could see a a similar scenario to what we did in 2015 when mccarthy seems set to pick-up the gavel then at the last minute he drops out and all of a sudden, then former vice presidential candidate paul ryan steps in and he becomes speaker. what i think is so interesting right now though is that there's no sort of conservative champion waiting in the wings. we've already seen that steve
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scalise whose in line to become majority leader, he's been approached about these sort of scenarios and he said look i'm not going to respond to hypotheticals. what i find so interesting about all of this though and what seem s to be lacking from the conservative consciousness is kevin mccarthy isn't john barrasso and in fact, the mccarthy of today is much more conservative than mccarthy was in 2015, the last time he tried to become speaker, so maybe in the end, there will be some changes. maybe there will be some concessions but what i think is remarkable is that you have candidate, members like marjorie taylor greene sort of an ultra conservative coming out saying look this never-kevin moment has to stop. neil: i'm just wondering if it doesn't, and let's say they do find an alternative, obviously there are alternatives out there we just don't know how it all sorts out, it's not the best way to start as the party in power,
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albeit not by much in the house, so how does it effect even planning legislative initiatives , investigations, et cetera. >> so these kinds of messy fights they don't do anything to bring down inflation. they don't do anything to bring forward an alternative legislative agenda. i think that a lot of republican voters, if they are paying attention to this at all, are probably saying i didn't hear anything about this on the campaign trail. look, at some point, republicans are going to have to show that they can do the basics, the blocking and tackling of governing and at some point, either they are going to have to get over this or maybe mccarthy says, you know, because it becomes too painful, because there are multiple ballots in january, something that could happen, we don't know if it will , perhaps, he says, enough is enough and he finally is the one who steps aside and ends all of this drama.
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i think we're a long way from there, but we're also a long way from republicans actually delivering what they promised voters which was a change to biden. right now there's a messy food fight. neil: phil, has there been any comments on the part of former president donald trump weighing into this? and where he hopes it sorts out? >> well, i think he's watching very closely. the relationship between kevin mccarthy and donald trump is an intimate one, certainly the former president likes to tease that mccarthy is "my kevin " that's what he calls him but i think that that actually gets to a reason for why this leadership fight on the right is different than the ones that happen previously. you've got a much more conservative member in mccarthy closer to the former president and i think that by suring up those conservative, he's sort of strengthened his right flank. neil: all right we'll see what happens.
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thank you very very much. we'll get a gauge on this because the markets are panicking about this. they certainly have a funny way of showing. ♪ i promise to bring you advice that fits your values. i promise our relationship will be one of trust and transparency. as a fiduciary, i promise to put your interests first, always. . . visit the refrigerator is greg's happy place. my kids eat. but i finally figured it out. we can get all that we need and then a little bit more at walmart. ♪ i'm frank siller from the tunnel to towers foundation.
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neil: here's charles. hey, charles,. charles: neil, thank you very much, my friend. good afternoon, everyone, i'm charles payne. this is "making money." breaking right now investors cautiously buying against a huge, talking about critical week for


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