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tv   Mornings With Maria Bartiromo  FOX Business  February 9, 2023 7:00am-8:01am EST

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the proof is in the numbers. >> mauricio, this is nancy tengler, i'm interested in your view in the ai war that we are seeing between microsoft and google and what -- who do you think prevails and run with the whole system. i own both stocks, full disclosure. loogoogle is looking interestino me on holdings. >> i think what's most interesting to me about the interesting debate around ai how it has taken a hold of public opinion and narrative and people seem to be very sort of excited about the technology. if you look at the reaction of google stock just from a headline yesterday from their ai system and how much the stock reacted, i think it's showing that people are putting emphasis on the future growth of the companies in ai bets. frankly, it's hard to call a
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winner at this time but both companies seem to be investing in this tech and putting bet and future growth on them. maria: we will leave it there, mauricio. thanks very much. >> thanks, maria. maria: mauricio bartolomeo. next hour of mornings with maria. good thursday morning, thank you very much for joining us this morning. it is thursday february 9th, 7:00 a.m. on the east coast. top pentagon officials are confirming that the chinese spot flight is part of global surveillance program run by beijing's government. all lawmakers will be briefed followed by senate briefing and hearing likely after 10:00 a.m. joining me todd pirro, nancy tengler and lou. this is scary. >> my reaction to this hearing, if this were a greater energy, would we be a little bit faster with the briefing because i kind
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of want that to happen if we are about to be invaded by somebody. my surprise is why is this a surprise. we have been talking for so listening that china is not our friend, they are not our competitor like two old chaps playing pickle ball. they are our enemy. this is a galvanizing moment for americans to come together and say we need to top china from surveillance, whether it's balloons, spy, we need to put an end to it and we are in early stages of a potential war. in 2025 we could be in an actual war with china. why are we pussy footing around. maria: in america near military site with a different commander in chief handle china
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differently? i think so. look at governor cristany gnome what she said, you're not going to buy land in north dakota from foreigners. >> remember mark latter. why does it take 3 days to figure out it was a spy balloon? we have plenty of evidence hiding in plain site what the chinese are up to buying farm land. we are reliant on the chinese economic manufacturing capacity for everything that we do. we have to figure out a way to divorce from that. we have a listening way to go to get there. maria: let's make a good point. let's not forget what joe biden is doing now. directing all ev components to be made in china. he's pushing ev, eletric vehicles, batteries, solar panels, they are made in china. certainly that's what the select committee on china is trying to do trying to get chains from
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china. >> i think this is what happens when you put together a cabinet based on checking boxes instead of competency and so they are missing and they are not moving quickly and when you have the secretary of energy laughing about when someone asks her what the price of oil is going to be, it's not funny to the average american. average american i use as ultimate complement because i think washington is completely out of touch more than usual and they are not solving any of our problems and that's -- that's troubling. maria: we have emails of joe biden's family trying to help the ccp gain energy, right, they wanted to do deals that's why they created cefc and the other night joe biden says at the state of the union, we are going to need oil for another ten years. is that scripted or did he go off script. what the headquarter was that about?
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>> we sold strategic reserves to china. how does that make sense? >> he had moment of clarity through the haze. the reality is we can move to renewables. there can be a transition. no way to get around this. >> keep in mind, where are the solar panels made. maria: china. >> clean energy things from battery to social panels are all made in china. how this administration doesn't see that or doesn't care about america to allow that to happen is mindboggling. maria: yeah. >> and the minerals, what you need and the metals that you need to run green energy double, four times as much copper in an ev than combust i believe engine and the greenies don't want us to mine for copper. >> 16 to 25 years. we will ramp up a need, demand
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for supplies that there's no way the world could ever meet and let's talk about environmental impact of producing the minerals. no one factors into the cost of ev's. these are green vehicles excludes what's in front to produce all the parts that go into it and when you plug the car into the grid, what do you think is powering that? >> exactly. >> it's not the sun, it's oil or natural gas or fossil fuel and power plants. >> the energy that's consumed in that. >> so many minerals are in africa. begs the question why is china are so active in china. >> we should move for conservation and smart usage but let's be reasonable about it. maria: the wall street journal this morning writes, did biden forget permitting reform. example of state of the union speech was bipartisan in name only. they promised joe manchin permitting. no mention there. that failed. and he knows that that's a priority of the republicans no mention.
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we will take a break. when we come back a new york city owner and lady gaga's father joe is with us this morning talk about the state of new york city and the restaurant business. then getting ready for super bowl sunday. the best way to get snacks on a budget. don't miss it. you're watching mornings with maria live on fox business. ♪ ♪ ♪
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maria: welcome back, time for word on wall street. joining us laffler tanglier, nancy tengler. market that is strong up 270 points on dow industrials, 132 on the nasdaq, right in the middle of earning season and we've had strong start to the
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year. >> i'm going the call it the karate kid market, risk on, risk off, great rallies even though earnings on big tech were a mix bag. amazon disappointing in cloud. i'm looking in biotech. there's a nice resurgence area there. companies that approved drugs are selling low valuations, prevention bio which we banked a long time ago but they have diabetes drug that can delay onset for 9 years. i'm also seeing disney. that's concerning there. the layoffs because leisure and hospitality counts for 11% of the economy. if we start seeing layoffs that's a bad harbinger. constructive on disney. i would like to see the activists there engage, you know, it's like having
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accountability partner overlooking your shoulder, what are you doing, what are you spending, why, an activist lead to higher returns. maria: but they are cutting 7% of the workforce and it perplexes me some of the gains that we have seen even in tech as we see layoffs. meta, up 50 plus percent year to date, does that make sense. tell us tech and whether the move year to date is justifiable? >> yeah, maria, we got out of meta in 2021 and that was a good thing, i think. i have no interest in getting back in. i don't like the business model where you have two share classes and a ceo that's not accountable. maria: a firm is getting crushed, a firm is laying 19%. stock down almost 20% right now. >> that's because i think that
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goes to the heart of the business but if you look at the tech numbers of l layoffs, techs the most productive sector in the economy, more revenues per employee than any other sector except for energy and so and apple is even better, 140,000. so i think you want to be selective in tech but we've been adding to it in the fourth quarter of last year and we will again if we get a correction to the rally. >> you're finding the company and tech companies that are business models sustainable and not firm that maybe paid later. maybe. we have been through this before with the housing crisis in '08, '09, student loan crisis, we know people don't pay when the economy gets tough. maria: john williams, federal
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reserve cook says inflation is necessary. disinflation is here but the disinflationary process has just begun and it's going to be the fed president there and the fed governor christopher waller, they will speak tomorrow and probably see the same story. cpi out next week, they have slowed the economy but food prices are still pretty strong. >> right. maria: no let up in food inflation so far. >> right, the atlanta fed, sticky inflation number is still elevated on analyzed basis. coming down month over month but not as fast as course cpi. i know the fed looks at pce. i think the fed has been wrong about everything. maria: they tole us it was transitory. >> we will not raise 75 basis points -- i'm not thinking about raising rates.
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market is assuming that we are closer to the end of the rate hiking regime which is pretty obvious than we are at the beginning and inflation moves mostly symmetrically. so i do think there's going to be continued volatility but as an investor volatility if you're a long-term investor is your friend and you should use it to selectively pick away at the reliable earners in the s&p 500 which includes in some cases technology. maria: you are fully invested right now? >> we are. we ramped up our risk and that's paid off very nicely. >> i'm fully invested and looking for a line of credit that joe biden got. it defies logic but you things that are selling. biotech, 200 companies that were selling below cash. you just never have enough cash
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when you need it. maria: by the way a lot going on in terms of innovation and growth. we could see some deals because deal making is finally showing some life. you had a piece of in the journal of pharma companies that are looking for more deals. >> cvs. i think you have to step back and look at management teams like you are saying and look like we are at the old accompanies that are providers of the solutions. >> innovators never sleep, finding the right time to buy them. maria: it was horrible year last year. >> yes. maria: maybe this is the beginning of a comeback. [laughter] maria: great to see you. thank you so much. we will be talking with you all morning long. stay with us.
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we are taking a break and we dive into the market with cathie wood. she's here to talk about a good year to date she's having with growth in the lead. we will get into it and then there's this, president biden laughs off questions about the u.s.' relationship with china. we will talk about it. stay with us. ♪ ♪ ♪ meet a future mom, a first-time mom and a seasoned pro. this mom's one step closer to their new mini-van! yeah, you'll get used to it. this mom's depositing money with tools on-hand. cha ching. and this mom, well, she's setting an appointment here,
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story. joining us fox news contributor byron new york, always a pleasure, thank you very much for being here. we certainly want to get into the chinese spy flight but your take on what we learned yesterday in the hearing. >> well, i think the republicans despite two soundbites you played didn't make it clear that it was a hearing about the fbi and not about twitter and not even about hunter biden because before the hearing started yesterday james comer, chairman of the committee tweeted, he said, twitter was a private company that the government used to accomplish what it constitutionally cannot do which is limit the free exercise of speech. and that's the story that has emerged from the twitter files where some people thought previously that twitter was a bunch of leftists who were looking to influence the election, what we saw was the
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fbi and other national security organizations feeding information to twitter suggesting to them that there would be a story about hunter biden be coming up and it would be russian disinformation just like in 2016 and they would know what to do, right. and i think that that's what -- what we've seen lately in the twitter files and that was the real story of the hearing. maria: t a great point. i don't know what it's going the take to take politics out of our most important law enforcement agency, byron, i know republicans talked about bringing independent panel to dismantle the fbi and start again. do you think they'll be able the do this? >> that's -- that's a huge question and there's another committee to work on that too. yesterday if you look at the press coverage, you look at the coverage of "the new york times" and the other cable networks, the idea that their pushing is
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that the whole hearing just backfired on republicans. it actually proved that twitter didn't do enough what they call content moderation and it showed that twitter was a big part of january 6th because democrats want today make it about januar. so republicans are going into a headwind. there's no doubt about it. the script that a lot of people in the press wanted to tell that the hearing was a federal and republicans everreached and it even backfired on them. i think they need to focus closely on the fbi and what the government did. maria: yeah. >> not twitter the private company and what the government did because they had direct oversight over the fbi and the other agencies. maria: let's talk about the china threat because the president laughed off the idea that relations with china have been damaged by the u.s. shooting down the spy flight. watch this.
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>> have relations now between the u.s. and china taken a big hit? >> no. no. >> how do you know? >> i know. i talk to them. the idea of shooting down a balloon that's gathering information over america and -- that makes relations worse, we are not looking for conflict. maria: i don't even know what to say, byron, this is so outrageous. no worries, china killed million americans by unleashing covid-19, intentionally or not, accidentally or not, it came out of a wuhan lab, no problem. china has been stealing intellectual property for decades, hundreds of billions of dollars, no problem. they run a spy flight into america above our nuclear installations and military bases, no problem, i spoke to him. i don't even know what i'm
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hearing here. >> this was absolutely mindboggling. when asked if relations had been damaged, he said, no, they are not mad at us. who sent the spy balloon over? they are apparently not mad at us for shooting it down although they actually wanted their balloon remains returned but this is an absolute just crazy upside down view of things because, you know, in terms of relationships between two countries, each country gets to determine for itself whether relations have been damaged and you would think for the united states china having done this and by the way causing us to discover that they were doing similar things in the past, relations would be then. maria: unbelievable. todd, jump in here. now xi jinping is spanking joe biden because joe biden said in the interview that xi faces problems and beijing puts biden
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on blast for this saying this type of rhetoric from the u.s. is irresponsible and runs counter to basic diplomatic etiquette. >> does anybody in washington see what china has done here? this is a situation where they obviously are the ones that did the wrong thing but yet joe biden has been so feckless with his response that we are now the ones, did we do something wrong here? >> no, we did nothing wrong here. my question for you, byron, is there anybody with a d next to their name in all of washington, d.c. who's willing to take china all the way, you have the senate and presidency in democrat hands, are they willing to see this thing to the end. >> i think it's still an open question. it is true that when the new house majority, formed the new committee on china, 146 democrats voted for it and there were a lot of really partisan
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votes that day. 146 is a lot of democrats. they do at least support this new vehicle. but we've got two angles to the china spy story. you have the president, okay, they are not mad at us for shooting down the spy balloon they sent across the whole country but we are still looking to see what the balloon was doing and what the nature of earlier encurcions, why are you worried about this? and that led to question, well, what exactly happened in the prior administration and we discovered that china did send some sort of balloons and surveillance craft and the u.s. which is supposedly has
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incredibly extensive surveillance network didn't know about it. that is a huge scandal right there and i won't be surprise if president biden is trying to divert attention from that because for it shows enormous, enormous failure of military intelligence. maria: by the way, did we know that the president spoke to xi jinping after the spy flight because he said in the interview, i know because i've spoken to him. the white house has not released any, you neglect, log or any contents of this phone call that they spoke about byron. i would like to know more about that. this is going unnoticed and in your article in the washington examiner you write, quote, the chinese balloon story is bigger than it seems because of the questions raised over the biden administration's conduct. tell us more. >> well, the two reasons it could be bigger than it seems and it is bigger is one what i was just saying about earlier china operations that we didn't know about and the general who
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heads norad admitted failure in the earlier -- earlier instances and the other problem, potential problem what if we actually did know about these incidents and the military did not tell the political leadership, that's even worse. so the china balloon affair really exposed a big problem in our military intelligence that has to be looked at really, really seriously and i do think there's bipartisan interest in that but as far as this phone call with xi gyp jinping, when president biden said that in the interview was the first i heard of it. maria: exactly, i would like to know more about that. good to talk to you. byron york, washington post. senators to receive classified briefings on the china spy night today more than a week after it
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entered for a week.
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maria: welcome back, house and senate lawmakers will receive grieving on the chinese spy this morning. the spy craft shot down saturday is tied to a major global surveillance program run by china's military. joining us right now tennessee senator member of finance budget commerce and veterans committees marsha blackburn is here. senator, good to see you. thanks very much for being here this morning. what are you expecting from this briefing? >> sure. what we would like to know is why did they choose to let this go across the country and first
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of all not tell us and secondly why didn't they shoot it down and, maria, they had the chance to take this down off the coast of alaska. they made a decision not to do this. we also want to know what was their communication with canada, how were they watching this, had they other incursions because bear in mind we would not know about this if not for a citizen with a great camera and a good lens out in montana that took a picture put it up and said tell us what you know about this and then you have blinken who probably would never have canceled that trip if not for this being made public and i doubt they would have taken it down but why did they wait until it went all across the country? there are ways they could have gotten this thing down and saved all of this equipment and figured out exactly what they were doing. maria: the other thing, isn't it
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true that they saw it coming in before it entered u.s. air space, once it was in u.s. air space, shouldn't have been shot down. we don't want conflict, it's a competitor,@not an adversary, why? >> that is a very good question and it is one that more and more tennesseans are asking me because last year our trade deficit was we imported nearly a trillion dollars more than we exported. we have the a record high trade deficit with china. they imported more goods to this country than ever. we have manufacturers in tennessee of automobiles and appliances that are very concerned about trade policy. they are very concerned about this deficit, trade deficit and
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they are wanting answers. i'm looking forward to working on those questions with them and trying to get this administration to realize china has economic warfare, they have great power competition, they have human rights abuses and this administration is sitting silent and not taking the ccp and xi jinping to task. maria: they also have trade priority. don't they have special status when it comes to trade, is that oiler to pull in terms of fighting back provocations. they covered up covid-19. a million americans are dead. we still haven't had one hearing of origins of covid-19 which is absolutely outrageous. we can't get in there to look at the wuhan lab and the spy balloon over the nuclear sites. can they just do no wrong, the ccp to america? >> well, according to this administration the ccp is not
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doing wrong. under president trump and mike pompeo, the ccp would not have done this. evil, russia, iran, north -- noh korea. you look at what has happened with the ccp propping up the russian army with navigation equipment and and helping them n fight against ukraine. it's an unsavorily bunch of
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characters. we will not tolerate this, it is dangerous. what they are doing is dangerous and the spy balloon has become emblematic of this place, inappropriate and dangerous foreign policy of this administration. maria: hopefully the least of it is emblematic and not much more damaging than anybody knows given the fact that it was likely sending data back in realtime over military installs where there are nuclear silos. the white house is rejecting report from pulitzer prize journalist that says the navy destroyed the north stream two pipeline. utah senator mike lee twitted this. i'm troubled that i can't rule out that the suggestion that u.s. blew up north stream. no one were -- none were ever briefed on this. if it turns out to be true, we
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have a huge problem. what do you know about this, senator? >> we have not been briefed. maria: okay. well, look, the president the other night in the state of the union said we are going to need fossil fuels, we are going the need oil for the next decade. why make it harder for these companies if you know you are going to need oil for the next ten years. i know that it drew laughs from the gop but it's quite serious because oil companies are worried that they are not going to get funding from the banks because of this pressure against fossil fuel and the climate change agenda. >> well, maybe the banks need to realize they are going to need them for the next ten years but it is so interesting to me and especially when you look not only at transportation fuel but also at home heating fuel, industrial heating and, maria, it is just foolish that we would not be using clean coal technology, that we would not be
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using natural gas, that we would not be expanding nuclear power and things that can help us through times of extreme coal -- cold or extreme heat or to keep transportation going. we are an energy based economy and we need to be using our natural resources, do it wisely so that we are manufacturing here at home, so that we are cutting this trade deficit, so that we are going to be able to get from point a to point b with predictability, reliability and keep our supply chains moving. maria: well, speaking of the economy you are a member of senate finance committee, 3 separate bills to cut spending. we are about to see a showdown on spending. have you gottennen any indication that the white house will come up with area to identify, to cut spending or put some framework in place for an agreement to raise the debt
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ceiling? >> so far, they are sticking to their comments about not negotiating. we do know that speaker mccarthy had a meeting with the president, we are hopeful that the president will realize he's going to have to negotiate with republicans in order to get something done and that something done needs to include spending cuts. every year i do the 1, 2 and 5% across the board spending cuts in nondefense, nonhomeland security and nonveteran services and, maria, it is important that we look at this discretionary pod and begin to make some cuts into that baseline so that we are going to bring this budget into balance within the next decade or so. you cannot continue to rack up this kind of debt. maria: okay. >> we are at $31 trillion and
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counting. maria: yes, we are. senator, good to see you, thank you so much. senator marsha blackburn joining us this morning. quick break, lady gag ample's father is here in the studio in the state of the city and the restaurant business. back in a moment. ♪
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my advice for everyone is to go with golo. it will release your fat and it will release you. maria: welcome back, inflation is hitting the restaurants hard. last year 40% of restaurants cut staff levels and in new york we were worried that 50% were going out of business and 30% had to make substance outs with lower-cost ingredients. joining me right now restaurant owner and father of lady gaga. joe, great to see you. >> thanks for having me on, maria. maria: thank you for being here. assess the business for us right now, how is inflation impacting your restaurant? >> well, january and february are notoriously slow months every year, okay. this year it's slower. i think the discretionary income has gone down, right, people are
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looking for deals, all right, they are coming out for prefixes, they are looking for the early bird special that type of thing and it's getting harder and harder to make ends meet. i expect it will pick up in late february and march. maria: have you been passing higher costs, how are you dealing with the inflation from your standpoint? >> we do a little bit of deflation. what we will do instead 8-ounce portion of salmon, we went to 7-ounce portion. we went from linens to place mats, paper place mats. you have to cut wherever you can. maria: how does new york teal to you -- feel to you, joe, about a year ago we were talking about these, you know, crash and grabs
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and all of this crime, 70% of new yorkers say they feel less safe now than before the pandemic. what -- what has crime -- how has crime impacted things? >> well, i think the city is a mess, all right. it looks horrible. people coming from, you know, from connecticut and long island coming -- they are going to lincoln center to a show and then they are walking around, it smells like weed everywhere. maria: wow. >> it's -- the shacks out on the street. maria: you have the migrants. mayor adams is complaining about he needs a billion dollars to house and to -- >> right. maria: migrants. >> they are coming to the restaurant looking for work and we can't hire them but it's more -- it's more and more frequent now like every day one or two guys will come in looking for -- and most of them don't speak english so the chefs speaks to
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them and he just tells them, hey, we don't have anything right now. maria: wow. former new york congressman lee zeldin obviously ran for governor, he was on the program yesterday, he responded to kathy hochul's budget and the fact that she wants money more more the migrants so that she could house them. >> sanctuary city, sanctuary state policies are incentvising. whether they follow the rules or not they are going to be rewarded once they are able to make their way to new york. it causes that new yorker who is struggling to make ends meet, it's hard enough challenging life in new york, their breaking point is that much closer. maria: serious stuff going on here. >> oh, yeah, it's -- as i said, the city looks terrible from probably four years ago.
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maria: why? >> it's dirtier, okay. there's a lot more people out on the street, you know, they are panhandling and seems filthy. maria: yeah, the irs is proposing a crack down on your industry, the restaurant industry, they want to monitor cash tips. >> yeah, right. maria: employers get taxed tips. >> 42% of our federal tax revenues come from the 1% but to go after waitresses, i was a waitress. i remember when i was a waitress, made a dollar an hour and relied on my tips. this is the kind of thing where you will not solve budget problems by going after hard-working americans and the restaurant industry was really crushed during the pandemic. maria: i mean, waiters and waitresses are living paycheck to paycheck because they rely on
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the tips. >> right. maria: what happens to your employers if they start to tax on tips. >> they will write it down. we count it. i mean, the other component of it is that now i understand they want to remove the tip credit, all right, so we pay waiters and waitresses $10 an hour and they get a 5-dollar tip credit to get them to 15-dollar an hour minimum. now they will get rid of that potentially and our rate per hour is going to have to go up to 15, right, so it's -- i think they are trying to push us out. maria: how is your fabulous doing, lady gaga? >> she's tremendous. she's out in la. she's filming. maria: she's doing another movie? >> she's working with joaquín phoenix and she likes to be here
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soon. maria: would you bring her onset and join us in an interview? >> i'm the wrong person to ask. [laughter] >> i would love to but i don't know. maria: yeah, she did really well when she did filming and people loved the star was born, she was incrediblable in that film. >> yeah, i loved it. i loved the music. maria: has this changed your life completely? >> 100%. i used to wake up and think to myself what happened, where did this come from? i'm one of the luckiest guys in the world. maria: proud papa, good to see you, joe. >> thank you. maria: we have the hot-topic buzz joining us on the next side of the break. ♪ ♪ ♪ what do you mean? these straps are mind-blowing!
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and water policy was always front and center, because it was about droughts, and now it is about either droughts or i love water policy i confess i am a water policy geek. [laughter], i think it is so important we could geek out right here the three of us; right? >>. maria: oh, what is geek out
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"hot topic buzz," vice president kamala harris being kamala in georgia did a media tour yesterday, listen to what she said about criticism of president biden' age if he makes 2024 white house bid. i think age is more than chronological fact to be honest with you it is about thinking whether we have in our leader when we do in joe biden -- >> okay, tom your thoughts. >> first, water topic i read children's books obviously, i have a two-year-old some sufficient she says sounds like from a bad children's book this is the planet we've got a pressure place, it is a place we have responsibility for taking care of, there was a whole lot of work that can be done. kamala harris children's book. maria: page passage of time. >> she has to say we've talking points a, b,cwe need to hit a, b,


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