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tv   Cavuto Coast to Coast  FOX Business  December 16, 2022 12:00pm-1:00pm EST

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stuart: we asked the following question. what is the most densely populated city in the world? all right, is ashley involved here? ashley what's your guess? oh, no he's not there, lauren what you got? lauren: seoul. stuart: susan? >> stuart: i might go for second tier mumbai. the answer is 76, 790 people packed into every square mile of the city. lauren: i've been there. stuart: times up for me for the entire week. neil it's yours. neil: all right, stuart, thank you very very much. well you've been report inning about this sell-off happening at the corner of wall and broad picking up steam not surprisingly here. the other shoe dropping right now, brokerage firms that make their money off of this are now
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laying off people, goldman sachs looks like it's going to be laying off up to 4,000 workers next year. that will be about 8% of its workforce. remember, we reported here exclusively yesterday that goldman is dramatically pairing its bonuses. that's how a lot of these investment fat cats as they are known seem to make most of their money, salary is rich but of course those bonuses are even richer and they are being paired back by up to half. that means that partners at goldman sachs among the most elite group in the brokerage world are now seeing a cut in pay and many of them a cut in outright jobs. this follows morgan stanley indicating that it too will be cutting jobs, about 1,600 of them. what you're seeing in red is explaining all of that. if you can't make money on stock s, you can't make money, period, and so you have to start letting go of people and so it begins. we are looking at across-the-board losses that means for the second week in a row, all the major averages will be down. now you might be saying all right what's the big deal? we've not really seen that since
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back in september. connell mcshane, our chief national correspondent on all these developments. connell? connell: hey there, neil. yeah, the goldman news you're talking about kind of a pile-on to the recession fears and the rate hikes that had already been in this market and we've already been talking about that looks like it will setup stocks for yet another down week and the third consecutive day of declines that we've seen this week, and you know, its been interesting to watch the dow in the week because we started off in rally mode and got up after the initial inflation data came in and showed finally, inflation was starting to slowdown and that was seen by investors as a good sign, but that hope didn't last long and by wednesday, when the fed rate hike came out, we were going in the completely opposite direction. we really haven't been able to stop this bleeding right now. the dow jones industrial average down to 32, 738, so jerome powell & company say the plan now is to keep hiking rates into the spring, hold that key rate
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where its been maybe until 2024. the other central banks kind of in pile-on mode now, the bank of england with similar messages this week. you know, tech has really been the group that has taken it on the chin the most and we've just highlighted apple, alphabet and nvidia today all down at least 4 % yesterday, so 1.2, and 2.4%, add those declines to what we saw yesterday, it's interesting to see what though we're seeing from a netflix. that's been a tech stock that in today's trading has started to stabilize. we'll see if others do kind of follow suit here a little bit. it was an extreme sell-off however earlier in the week for netflix 8.6% to the downside and yesterday's trading it's way off its highs 60% nearly from its record close more than 50% down year-to-date, today finally some stabilization. it's up by two bucks. outside of tech let's look at ford for a moment down by now more than 6% as it's declines accelerate.
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price hikes in place for its electric truck. the cheapest f-150 lightning was just under $52,000. now it's close to $56,000. ford saying it was adjusting it as part of the normal course of business. rising material costs though were mentioned, supply chain issues were mentioned, and we've seen that, neil, from a number of companies that have talked about why they're fearing a recession so that kind of brings it it all together in the supply chain issues that are out there. we see it in the economic data, retail sales earlier in the week , and the industrial production number that came in today, again, below estimates in contraction territory adding to this recession fears theme. neil? neil: nicely put together my friend, connell mcshane. mark tepper great to have you the strategic wealth partners the president and ceo. mark, you know, i noticed something interesting that's been developing over the last few weeks. even as stocks cascade, mortgage rates just fell for the fifth straight week, so we're at 6.31%
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on a typical 30 year fixed rate mortgage. what is that telling you versus what all these rates that the federal reserve controls going up and what that is telling you? >> well, look, neil, thanks for having me. i feel like the fear baton is being passed from inflation to recession. now investors are afraid of what happens if we enter a recession and for good reason. i mean, look last week, we had a benign cpi report. the market rallied, and then you kind of come into this week, you have a hawkish fed, you have retail sales wiffing in november when you have black friday and cyber monday. you've got deteriorating p mi data so look, the way i feel is the only reason the markets not lower right now is that investors overall have a very short-term memory and since 2008 -2009 all investor knows is zero interest rate policy and they know that when things get
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tough, there's the fed put. the fed will come in and save the day and that's not going to be the case this time around, so unfortunately, recession fears are now front and center, and we have to begin to wonder, you know, you look at earnings estimates for 2023. the street is still at $235 on the s&p. that needs to come down quite a bit. typically, in a recession they drop 30%. let's hope they don't drop that much this time, but nevertheless , if you see earnings drop and even at the same multiple right now, that can drag stocks quite a bit lower. neil: so some benefit in an environment like i said maybe housing, i noticed yesterday a lot of the homebuilders are up. i don't know how they are doing at this very moment guys if we can pull up what you've got on the toll, lennar and some of the others, but it also means that a recession is coming. maybe a lot of that is the built in fear of the markets here. in the housing arena, that could be sort of like a perverse draw that if it looks like things are
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slowing down, rates that the federal reserve doesn't control will start coming down and maybe we could see a pick-up in housing activity. do you buy that? >> i don't. so look, from my perspective, when you look at jay powell, one of the things he has continued to say and look the fed hasn't budged. investors are kind of reading into things and they are trying to hear what they want to hear and that's why the markets been doing a little better than it probably should but jay powell, he's going to be steadfast on fighting inflation. the fed is going to remain steadfast on fighting inflation. he keeps saying we are going to keep at it. paul volcker's last book was called "keeping at it" so he wants to be a paul volcker kind of guy and look, we know what kind of mistakes happened back in the 70s and 80s. we know that stop and go when it comes to hiking rates to fight inflation. we know that doesn't work. if jay powell does the same thing, if he stops and goes, or
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cuts too early, he's going to look like the biggest fool in the room because he will have known when history has taught us , what we've learned from history and he will have gone against that so i do not expect him to do that. i expect him to keep rates higher for longer and unfortunately, that's probably going to bring a pretty nasty recession our way. neil: it sounds like and you've been very astute on this and ahead of the curve, mark, that he's now at the point of not caring. i'm not saying not caring about his job and all this but if he had a choice between knocking the hell out of inflation and knocking the hell out of the economy, he would pick knock ing the hell out of inflation and if it means the economy tanks so be it, that that is now very very clear and i don't know if all investors are braced for that. >> they aren't. they aren't, and he has to do that. so one of the biggest issues that have happened over the course of the last two years , because of excess fiscal
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and monetary policy egregious fiscal and monetary policy is you have this overheated job market, where employees have more leverage over employers than they ever had, and you know , with wage growth still at 5.1% year-over-year, jay powell has to not only fight inflation but he's got to fight sticky inflation, which means he's got to break the jobs market so that he brings unemployment up to reset equilibrium in the labor market and slow wage growth, because that all flows through to margins. that flows through to prices. that is highly inflationary. neil: all right, you just offer ed the dim view. it's a very very convincing view i want you back a little bit later in the show. i always look forward because i want to get your thoughts on other positive developments like olive garden, olive garden's parent garden beating estimates providing very good guidance, delta stock was upgraded today on the belief that people are packing their fannies in those planes so consumer and consumer spending is still
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strong. i want to pick your brain on the half full glass a little bit later but thank you my friend i always enjoy talking to this next gentlemen, mick mulvaney, the former acting white house chief of staff former office of management and budget director. i've always said, i do not mean this as false praise. nobody knows washington numbers work and the money in the money out than this guy. i don't know whether that's a gift or a curse but i'm delighted to have mick mulvaney back with us. good to see you. >> thanks, neil, that's sort of like being the tallest midget, right the guy in washington who understands the numbers the best neil: it can be a nurse. let me ask you a little bit about what we were doing with the market that maybe this is a reflection that everyone is close to giving up, could be capitulation, could be over doing it, but they see a recession. this is all about seeing a recession. do you agree with that? >> i do, because i think it's the only thing that washington knows how to do right now. keep in mind inflation is an imbalance between money and
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goods and services, demand and supply of goods, and there's two ways to bring it down. either you increase the supply of goods and services or decrease the demand. washington, especially at a democrat leadership, has not been very good at increasing supply. we're producing less energy, the supply chains are limited, things are happening to restrict supply. regulation that came off during the previous administration is now back on, so that means the only tool left to get inflation under control is demand destruction. kind of destroy the demand side of the equation and that is a recession, so why do i think we're going to have one because it's all washington knows how to do right now. neil: you know, the president said just the other day when the retail sales report came out , it seems like ancient history now, mick, but that was better than thought. in other words the rate of increase was a little less than thought and he said this is a preview coming attractions and i'm quoting here kind of, i don't have the exact quote here, by the end of next year, we'll be back. we'll be through all the rough
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stuff and on our way. do you buy that? by the end of next year, we're back. >> what's the evidence, what's the plan for doing that? what's the plan for bringing more goods and services to market? there isn't any and that same speech he said his economic plan was working as best i can tell his economic plan consists of just spending a lot more money and that in and of itself is inflationary so no -- neil: i think what he's also saying, i hear what you're saying, mick, but i think what he was also saying is if you notice with each and every passing month of the inflation numbers don't get higher, they get a little bit lower from the highs, and that this trend, if you follow that out, i know it's a leap but if you follow that out, will be back to, you know, even money end of next year. you just don't buy it? >> and i guess the reason everybody is so excited about 7% inflation, which is mind boggling, is just because a couple months ago it was 9%. now look i look at the macro issues -- neil: good point. >> we've got to look at what was causing inflation in the
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first place and what of that has changed? we had supply chain difficulties that's gotten a little better. you have the war in ukraine that hasn't gotten better. huge government spending has hasn't got any better and on the demand side all you have is increased interest rates because it's the only thing the fed knows how to do so if you look at the reasons that we had inflation in the first place, and see what's changed, the only thing that's really changing is the interest rates so that means that we're going to try and destroy that demand and that means a recession. i try not to be too negative and too pessimistic. i just understand a little bit how washington works these days. neil: all right, let me talk about your old boss, donald trump. he is so far the only announced republican candidate for president in 2024, but he's had a bumpy start, and yesterday , he confused a lot of people. do you think he's botching it? >> i certainly think the rollout is not going like he wanted it to. he hasn't done any events.
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almost the reason he announced when he did. i assume it's an educated guess, it was to deter other republican s from getting in the race and sucking up all the oxygen. that's not happened but the rollout was flat, he's done no campaigns, done this crazy nft thing. i think if anything it's just encouraged other republicans to look at him and say he's weakened, not what he used to be , he's lost that 2016 magic, i'm taking a look at getting in the race, i'm hearing folks hiring political consultants in my home state of south carolina, iowa and new hampshire. people are getting ready to run against donald trump so if you look at it from the metric of what was his announcement designed to do, its failed miserably and it maybe that he's lost that magic from 2016. that being said you and i both know that cable news is littered with the history of people who have called for donald trump's demise. neil: you think if it piles up like this , mick, that he even stays in the race. i mean, he's a proud man.
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if these numbers still bear themselves out and you're quite right, numbers often don't do that for very long, that he quits. >> two reasons he would pull out. number one if he really thought he could lose in a republican primary. it's easy to say a democrat you know, general election is stolen from you. it's really hard to say the republican primary has been stolen from you by say someone like ron desantis so if he really thought he was in trouble in a republican primary he would back out on just a question of pride and ego, and the other reason be his health. he's very aware of his sort of his brand and his vibrancy and if he feels like he's lost a step or two, that might encourage him to step back as well because he doesn't want to be perceived as someone like tom brady or brett favr. , perceived as hanging around too long and should have retired on top so those are two reasons continue to watch those things, the polling data and also any news about his health. neil: be careful on that, mick. people have been saying i've been staying around too long so
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be very careful about that. >> [laughter] neil: let me ask you this. do you think he could and would make an independent run? >> you know, yes and no. why? the only reason you make an independent run is if you run in a republican primary and lose of course that's got all sorts of legal difficulty because a lot of states have sore loser laws but even if those are you can get around those , if you've lost a republican primary and you're donald trump, what do you really think your chances are of winning in a general election? if you can't beat ron desantis and mike pompeo, mike pence, nikki haley, tim scott, do you really think you could beat joe biden so i understand that and there is a certain amount of spite maybe attached to that and people thinking he might want to sabotage republican party. i don't see that yet. i see him running as a republican or not running at all. again i've been wrong many times neil: please, please, i beat you on that count but always good seeing you. if we don't chat again i hope you have a merry christmas, mick , very good seeing you.
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>> merry christmas, neil, thanks. neil: mick mulvaney. no one better crunching the washington numbers because there are numbers that all go one way, right? we spend a lot but we don't get enough into compensate for that spending. mick sees the reality on that. meanwhile, a bit of a troubling reality right now. hospital beds are filling up ink across country. now you've seen about the spike in covid cases. you've seen about some of these respiratory cases that have been building up, and again, just flu cases. now running at a record for this time of year, and to add insult to injury, we have a whole new culprit. i'll explain and explore, after this.
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neil: all right, interesting development on the oil price front. pairing some of the earlier steeper losses on news that the biden administration is going to be resuming buying back oil for the strategic petroleum reserve as you know, we had tapped to the tune of about 100 million-barrels over many months here to take oil out of the reserve, to help ease the pressure at the pump and gas prices. now that that seems to be mostly unwound and done, the administration is now putting oil back in. that means you have to purchase oil to put it back in there, and that's alleviated some of the big slide we saw in oil
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prices earlier. a barrel will set you back for about 75 bucks in case you're interested in buying a barrel of oil. you never know. could make it a unique christmas present. in the meantime, david lee miller following another development that has a lot of folks worried not about money but about health. strep a infections are on the rise, depending where you are, quite a dramatic rise, so what's really going on here, david lee? >> well neil the full extent of this health scare is really difficult to assess. fox has confirmed hospitals in at least three states, colorado, texas, and wisconsin have seen a spike in the number of children treated for a potentially deadly invasive group axe strep infection. other reports also cite cases in washington, west virginia and arizona. the precise number of kids effected is unknown because no government agency tracks the illness on a national scale. the cdc says it is looking into a possible increase. since november, colorado state epidemiologist says there's been 11 cases in the denver area including two young children who died from the illness.
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the texas children's hospital in houston says in the last couple of months there have been about 60 cases, quadruple the usual number. the hospitals chief pathologist says there could be a link to covid. >> children born just before the pandemic and during the pandemic may have been relatively isolated for the first year or two of life that may have altered the development of their immune system in a critical stage. >> doctors say kids most susceptible to invasive group a strep are already suffer ing from a respiratory illness. the world health organization reports increased cases in france, ireland, netherlands, sweden and the uk where british health officials say there have been 74 deaths across all age-groups including 16 among children. preventive measures include wearing masks in crowded indoor areas, good hand washing, getting vaccinated against flu and covid. health experts say invasive group a strep is spread by close contact such as a cough or sneeze and while there is no
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vaccine to prevent the illness, it is treatable, neil, with antibiotics. neil: thank you, my friend, david lee miller following all that and enter dr. marty makary, the johns hopkins professor of public health fox news contributor best selling author. i can't tell you the number of things that the good doctor saw long before others saw them, which is why i always enjoy having him on plus he calms me down because i freak out when i hear this stuff. doctor, now the strep thing. what's going on? >> yeah, it is concerning. hospitals normally see strep a go up and especially this time of year with the winter season but they are seeing more cases than they normally see. now we see hundreds of thousands of non-invasive strep and someone says they have a strep throat, that's usually non- invasive, but the invasive kind can account for one to 2,000 deaths a year, mostly in older people, but we've seen kids now die at a rate higher than we normally see and that's the concern. the uk basically issued an advisory that they have 15
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deaths in children. remember the uk is about one- atherosis and that's more than they normally expect for this year so one thought is immune sheltering may contribute another thought is we're seeing more resistant bacteria and it just maybe more dangerous. neil: doctor, do you think that the covid thing banged us up for this for what we're seeing now for the hike in some of the other cases even covid cases now this , i mean, that maybe something happened, we're compromised. >> look, i think there's clearly an immune sheltering phenomenon that's happening where these infections have stayed at bay. immune systems had really no low level background exposure to these infections, and now, they were coming back. this is an unanticipated consequence of restrictions that were in place during covid and they have to go into the equation when we calculate whether or not those restrictions were worthwhile.
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there's also a concern of virus and bacterial interaction, particularly between different virus strains and we're seeing flu and rsv right now at very high levels, the highest we've seen in 12 years, and the thought is maybe there's some interaction between viruses neil: but you know a lot of people are boosterred out, they are shot out, flu protection out and they are confused, if i have to do any and all and keep, you know, getting more injections, where does this go? >> there's a lot of fatigue, a lot of fatigue with doctors, quite frankly, and i see that in my patients when they come in and what we're seeing right now is this sort of backlash against any kind of mandate. vaccine mandates created a lot of never vaxers. mask mandates created a lot of never maskers but the reality is if you put all that aside, all of the echochambers of the back and forth, the masks do help reduce flu transmission
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particularly when they are good quality masks and when you have symptoms, you really are using a level of one way protection like a one way valve that can be a good courtesy to others, and the other thing is that we hear a lot about what you should do to take the bivalent covid vaccine. we don't have great data on that but we have the tried and true flu out there that people are really have said no to at higher numbers than before. the average up-tick of the flu this year is below average, even though we're having one of the worst flu seasons we've ever had so i do recommend the flu i've gotten it for myself. neil: well things must be getting bad if even some of your patients are giving you attitude i mean, it's not that bad, is it >> no, and one of the concerns is that hospitals are struggling with nursing staff right now, so we're seeing hospitals on diversion that are not normally on diversion. hospitals in part got caught flat-footed. nurses were essentially under appreciated, paid below what they should have been paid.
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they were nickel and dimed. hospitals were penny wise pound foolish, a lot of nurses left. add in the covid vaccine mandate for nurses who already had circulating aunt bodies, they had natural immunity, we lost a group of nurses with that issue so right now we're paying three times what the we normally pay for nursing staff at the hospital. nurses are harder to find and there's inflation. healthcare costs are going to go up and insurance premiums will be higher next year for sure. neil: wow. all right, doctor, thank you, i think, dr. marty makary on all those developments here. just to try to escape this if you want, there is a big movie coming out, everyone in it is blue. not literally, you know, figuratively blue, they are depressed. they are blue. it's avatar, the new film and right now, it stands to be a monster at the box office but will it be? after this. >> what does her heartbeat
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neil: all right, i don't know where you go to get your starbucks but you might want to pick and choose because about 100 stores right now are effect ed by a three-day walkout involving some 1,000 starbucks workers. we have the very latest on that and the latest business headlines from lydia hu. lydia? reporter: neil that's exactly right so some people out there may have found their morning coffee harder to get this morning with the start of this strike at about 100 starbucks stores. this is being brought about by the union there. starbucks workers united. they're trying to turn up the heat and its ongoing battle with the coffee giant saying they are protesting unfair labor practices. now the company did not immediately respond to our request for comment but the union so far has won about 80% of the union votes that's been held.
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that's about 270 stores. still it's only a small fraction of the 9,000 company owned starbucks stores ink across country. and neil, we're also learning more today about the insatiable american appetite that seems to crave dining out. darden restaurants the group that owns olive garden, seasons 52, yardhouse and some others they reported quarterly earnings and revenue that beat expectations today. the company even raised its earnings outlook for the next fiscal year. now, darden's total sales rose 9.4% compared to the same quarter last year, but neil, its expenses also rose driven by inflation, costs for dairy, grain and produce all went up as well as construction and labor. you can see the stock price there, down about 4% at the moment. the company says sales reached an all-time high on thanksgiving across all its restaurants. they expect sales to continue to do well this holiday season. and finally, neil, avatar, the way of water, is making a
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splash on track to become the highest grossing movie in the world. after the release in china yesterday, it is projected to achieve gross box office sales of $357 million at current rates of exchange. its forecasted to finish the weekend as high as $128 million alone, despite anti-covid controls across china now, the film will be released on sunday here in the united states, but a word of caution, neil, if you are planning to catch it on this release weekend , budget some time. it runs more than three hours. neil: yikes. reporter: that's a commitment. neil: don't go in with a large soda. i'm just saying don't go in with a large soda. lidia, thank you very very much. i don't know, mark tepper would do that, sit for three hours plus for a movie. you might, but you know, mark, it kind of touches on what we ended on when we last week chat ted this notion that not
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everything is going to hell in a hand basket. people are going to pack theaters maybe for a reason, this could be a great movie. obviously olive garden is benefiting from this , restaurants of all types benefit ing, packed airplanes, on and on we go. my argument for saying all right , comparisons to carter and the stagflation era are not right. what do you say? >> i love your optimism, neil, love it, love it, absolutely love it especially going into a weekend and like you, like i'm always going to bet on america and i sure hope our consumer remains resilient and we can continue to go out to dinner, go to a movie. i hope that happens, but, you know, to lydia's comments on the darden quarter it was a beat and race quarter for darden which is obviously parent company of longhorn, capital grille, olive garden but the stocks down 4% today so investors are not on board. investors don't believe that that raised guidance is actually going to happen and neil, you
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know, one of the things i think is going on right now is you really have this bifurcated consumer, so you've got the higher income consumer whose been very resilient and you can look at companies like lvmh and how those stocks have performed and the financials of those companies versus, you know , the lower income consumer is struggling right now. they are struggling to make ends meet, working multiple jobs to pay their bills and you can look at a retailer like kohl's which isn't doing as well so i think right now, you know, without a doubt -- neil: but i don't want to jump on you, my friend, but none of that was going on in the 70s. no one was benefiting in that environment. many are in this one. what do you make of that? >> yeah, so we'll see , i mean, obviously the concern is that struggle fest that's going on with lower income consumers, that it's contagious, that it spreads so that's something that people are certainly worried about but the one thing that is happening right now, neil, to
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your point about going out to dinner, the movies, there is still pent-up demand for services versus goods. over the last two years, consumers bought everything they possibly could off amazon. they bought all the goods. now it's time to go out to dinner, go to the movies, go on vacation and i hope that all continues. i don't want to be a party poop er but i will share with you that cowen just released their proprietary survey and they asked investors what were they going to pull spending back on next year. number one was going out to dinner. number two, air travel. number three, apparel so i hope that's not the case. i hope the consumer remains strong. obviously, i don't want a recession. i don't want the stock market to go down. i want it to keep going up but we'll see. hopefully we can stay strong. neil: well, we came back and forth, you've been pressing on this , you were not, you know, diving in and buying the dip thing when we were seeing it multiple times here, so you have some staying power here but my optimism is still out there. we'll see how it works out but
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it's always great seeing you my friend. have a very very merry christmas good seeing you again. >> likewise, neil. neil: all right, mark tepper, he knows of what he speaks in the meantime here, we've got a lot going on certainly with other things like at the border, title 42 but five days away from expiring. you hear all these nightmare scenarios what happens once it does but some have put numbers to paper and they are scary, after this.
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neil: all right, title 42 that protection that allows those trying to get into our country to be processed and have their cases handled on the mexican side of the border, all that goes away in five days on december 21 when it will be on our side of the border, the u.s. side of the border, that they are adjudicated. laura reese joins us from the heritage foundation, border immigration. laura great to have you on. play out what you see happening
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if this does indeed expire and is allowed to expire on the 21st >> well, neil, the numbers are just going to keep going up, and they really have taken a jump over the past few weeks, and so if members don't like what's happening and they are suddenly fans of title 42, then they need to pass legislation that allows border patrol agents to have the ability to turn back migrants whenever there's a crisis. title 42 is about the covid pandemic. while this administration can't decide if we're still in the pandemic or not, it is driving this crisis, the news that it's coming to an end, and so members need to stop asking, where is the plan to deal with the end of title 42, because we're living the plan. we have been for the past 23 months. what is happening is exactly what this administration has
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planned and they've carrying it out. neil: so if it does expire there's talk of spending three to $4 billion, maybe to beef up personnel, better security, i don't know what, but will that help? will that mitigate? >> no, it won't. it will make the problem worse because the biden administration is asking for another $3.5 billion to keep their plan going, which means giving more money over to ngo's to process even more illegal aliens into the country even faster, and so it's critical that congress not fund these operations and the administration's plan. if members keep asking where's the plan, all they need to do is look at fox to see the video of thousands of migrants standing south of el paso, waiting to get in. that will continue and the numbers will grow. if they want to see the plan, they should check out our
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heritage ngo memo where we track ed phone data a month through ngo's along the southern border and those devices went to every district, congressional district, in the lower 48. this is the plan and it's critical that it be defunded. neil: so does everyone know this not only in points south like mexico but in honduras and guatemala and all these other countries where they seem to be sensing a green light coming? >> yes, definitely. plenty of migrants south of the border are asked by journalists, is the border open, and they will answer, yes, it's open, and that's why they're coming. many of these migrants were already resettled in other countries like costa rica or chile and yet, because they know the border is open, they will take their chance, they will come up through mexico, and try to get into the u.s. and they will often ditch their documents that shows that they've been resettled in those
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countries. on that basis alone, they're not eligible for asylum here and they need to be turned back, so the message has gonna round the globe loud and clear, that our border is open and that's why we're seeing numbers. neil: and no one could say you didn't warn us, thank you very very much. we'll see what happens in the next few days and finally on the 21st. in the meantime following developments half a world away. ukraine under a russia tack that involved better than 60 missiles and three cities, maybe more. the latest from kyiv, after this y credit cards wasn't good. i got into debt in college and, no matter how much i paid, it followed me everywhere. between the high interest, the fees... i felt trapped. debt, debt, debt. so i broke up with my credit card debt and consolidated it into a low-rate personal loan from sofi. i finally feel like a grown-up. break up with bad credit card debt. get a personal loan with no fees, low fixed rates, and borrow up to $100k.
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>> welcome back to cavuto "coast to coast" i'm nate foy in kyiv, ukraine where a massive russian missile strike woke people up this morning and according to preliminary numbers from ukrainian authorities russia launched 60 missiles at ukraine and 40 targeting kyiv where we are right now. take a look at this video that happened between 7:00 and 10 a.m. this morning. 37 of the 40 missiles targeting the kyiv region were shot down, but local authorities say critical infrastructure is damaged. nine apartment buildings damaged the water supply is limited right now in the kyiv region, and other regions as well.
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multiple injuries in the kyiv region on top of that. we went out after the strike. take a look at what we found. >> one of the 40 missiles fired at kyiv this morning was shot down not far from where i am right now, and ukrainian authorities say this right here is a fragment of that missile, that was shot down. right now the bomb disposal team is neutralizing the warhead on that missile so this entire area is blocked off for everyone's safety but remember, this is the second attack on kyiv in just three days, after a russian drone strike wednesday morning. >> so what i was holding there was the fin of this missile which you see a more complete picture of here. the damage though not confined to kyiv. the mayor of harkiv says they have colossal damage to their energy infrastructure. half the people in the country lost power as a result of this strike. so far, ukraine says at least three people have been killed. 13 injuries on top of that and four children included in that
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number of 13 injured. back out here live we're learning more about the people who were killed. ukrainian authorities say a 64- year-old woman was killed as well as a young couple and local authorities say that young people's young son is currently under the rubble as emergency workers are trying to get to him just horrible. we'll send it back to you, neil. neil: just in credible, nate, i always say it but please be safe , my friend, nate foys in the middle of all of that in kyiv. claudia rosett last time she was here predicted this it would get uglier and meaner, all three are going on as we speak. claudia is the independent woman 's foreign policy fellow, former "wall street journal" moscow bureau chief. she's taken on the biggest and without fear, the worst and she's still alive to talk about it. pretty brave woman, so claudia, i've got to tell you, just to what you were talking about last
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time. more brutality on the way. vladimir putin maybe embolden to do so, but where is this going? >> neil, first let me just say you have really brave reporters. neil: we do. >> i think it's important to look at the bigger international picture, because i guarantee you , putin is doing that, and what he's doing right now, his ground invasion of ukraine has been a disaster for him. it just has been 10 months of a mess, and he's now just raining down missiles basically destroy ing the infrastructure further terrorizing people. ukraine in winter without heat is a really miserable place. it's very cold there, very damp, and the question is what is his -- where does this go next or what comes next? the u.s. is now shipping as we keep, the biden administration keeps ramping up bit-by-bit very often kind of too late. why didn't you do it sooner, is now sending in patriot missiles
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but now look to the bigger picture because where would putin be looking for some ace in the hole apart from just this being some tantrum of revenge on the people of ukraine who have been defying him, and that is china, and i think we should be deeply alarmed right now for taiwan, for any of our friends in asia, because xi-jinping is, as we know, he's been engaging in a huge military buildup. he and putin have been coordinating on many things for some time. they announced plans to dominate the world order at the opening of the olympics in february. they met and it gave them a chance face to face, i would guess, to discuss timetables among other things, and in a secure way, and xi-jinping is now consolidated rule for life, basically. he has made taiwan clearly central to his agenda, and we
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are, the u.s. is running down its ammunition stocks, supplying ukraine, has a tremendous backlog, growing backlog of billions in promised arms for taiwan that taiwan has paid for and hasn't gotten, including things like stingers. the answer is not to stop sending am you into -- ammunition to ukraine. the answer is that and here, neil, let me just give you a big bottom line. it's sort of difficult but true. the u.s. right now should be ramping up the way we should have done in the 1930s, to deter world war ii, and we're not doing it. we're increasing by drabs the military budget here and there, sort of including although inflation makes that less than it might seem. we need to be building up a navy that china knows it cannot win against. we're not doing that. we need to be arming taiwan now to deter an invasion, which would then distract, be very useful for putin because it
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would keep us tied up with not enough ammunition for both these , so that's -- neil: scary stuff. we'll have to keep an eye on it. i don't mean to jump on you claudia, but thank you for that. maybe to her point it's scaring the be-jesus out of investors right now. we're down at session lows dow down 531 points but in 1,300 points in the last few days. stay with us. waiting. sometimes it's just inevitable.
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