tv Cavuto Coast to Coast FOX Business February 15, 2024 12:00pm-1:00pm EST
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stuart: we asked an interesting question. where was america's first organized ski patrol formed? lou baseand aas he is a skier. lou:i have no idea. stuart: you are in all kinds of sports. what's your guess? ashley: i haven't been skiing in a while especially florida. i would go with stone mountain. stuart: i am going to go with the gore mountain because i never heard of it. thank you, people. the patrol was formed in 1934 by volunteers their motto was be careful and think while you ski. that is what they do. thanks for sticking around. coast to coast starts now.
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david: markets are marching back from a mud bath earlier this week. why warren buffett is shedding apple stock. is it time to change your portfolio? your market guru here plus consumers feeling the pain of inflation, tell you about the surprising cost causing a major pain in people's wallet. a nuclear nexus, house intel chair warning of an alleged nuclear threat out of russia. between this and iran president biden has a complex web of threats to watch. is he up for the job? two former congressman and military members joining us. republican lee zeldin and democrat patrick murphy are here. i am david asman in for neil. you are watching cavuto coast-to-coast.
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first, taking a look at the markets, doing pretty well, green on the screen, weaker than expected retail sales report columns inflation worries from the fed. let's break it out with strategic investment strategist luke lloyd. great to see you. numbers off the press from freddie mac's mortgage survey as we were worried about the inflation report, we had interest rates spiking and now we see the effect on mortgage rates. last week, it was 6. 64. right now getting the word from freddie mac that it was 6.77 fixed rate. >> reporter: the economy is stronger than we thought especially a month ago. the federal reserve pricing and
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three rate cuts and the market pricing in three rate cuts above the federal reserve for a total of 6, nasdaq 304 shows the race of the us economy. to understand the united states economy we need to look outside of the united states, the uk and japan fell into recession. china pumping out billions in stimulus for the economy while the us, 3% gdp growth, the united states consumer is literally the rock of the world economy, we are holding it all together. stable long-term growth is a different question. investors need to lean into the spending addiction we have in america. david: we should mention japan, a lot of people blaming their own central bank which kept rates artificially low for years and years and that has been a drain on productivity and growth in the economy. >> exactly what we did on
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steroids. 270% debt to gdp with 130%. the path we are on, we continue down this path, some other spot, not necessarily a great spot but japan's average household 20% more debt than income they bring in. the uk has 50% more debt than they bring in. the united states, average household has the same debt we bring in. that means theoretically this debt cycle could go for a while in the us. that being said it does go bust. david: last question about what we saw tuesday, the scary moment we saw stocks down 740 points, and did 500 points. a lot of people thinking about how we redistribute our portfolio. one of those people is warren buffett. he has decided to diminish his holdings of apple. do you think that will happen
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with a lot of people overloaded on apple think it can do no wrong? >> apple is a top stock. it is a growth stock, flat on the year. having issues in china. that will come out, microsofts of the world, companies delivering growth. in this environment you want to own stocks applying to people's lifestyles, when it comes to people's lifestyles and spending addiction, like grabbing a coffee at starbucks on the way to work, that's a routine, that is why we on starbucks in our portfolio, people addicted to routines, people eating every day, growing up in my family, going out to eat was something we appreciated. many people don't cook at home. on a stock like darden in our portfolio. you want to never give up whether a recession happens or not and stocks are implemented to artificial intelligence and
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apple is not one of them. david: wonderful advice in a short time. thank you, good stuff. to washington, white house national security adviser jake sullivan meeting with hothouse lawmakers about the threat posed by russia. jackie heinrich has more on this story. what's the latest on this story. >> reporter: we heard some members of congress downplaying the seriousness of the threat. we should put that in context because everyone we heard who has viewed this, while noting that its grave and its potential for serious impact, it's not an immediate concern. folks who are worried about going to bed at night safely. however, we have confirmed this threat deals with an emerging russian nuclear capability in spaces that would be used to target satellites including to
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take out us military operations and communications. we are told this asset is not yet deployed or operational yet and no question of the classified material around it hinges on us interests and protecting intelligence methods and sources. the intelligence committee chairman in the house didn't want to wait. mike turner alerted congress to some information about existence yesterday. it caught the biden administration off guard because jake sullivan was planning a meeting with outside of the gang of 8 for today. >> sent repeated letters to the administration asking we deal with the situation. tomorrow's meeting needs to not be a discussion. we want to know what the administration is going to do about it. if the administration doesn't take action this could be a geostrategic james changer. >> reporter: the white house is not answering the call to declassify this information but saying this.
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>> this administration has gone further, in more creative, more strategic ways dealt with declassification of intelligence in the national interest of the united states than any administration in history so you are not going to find an unwillingness to do that when it is in our security interests to do so. >> reporter: sources tell me the us has been tracking this development for some time denying the suggestion conversations with us allies and partners have not happened although we've not gotten information about when those conversations began when we were told that they have happened. the president so far has not spoken on this. he was on the north lawn looking at valentine's day decorations, they shouted will you speak to us? he didn't answer except what are you giving up for lent and the president answered to reporters you guys.
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david: like he hasn't been doing that already. lee zeldin and former democrat pennsylvania congressman patrick murphy. i've been looking forward to this. you guys are unique in many ways. you have an ideological difference but i think what connects you is more important than that. you are both patriots, in my mind the heroes. you both fought for this country, joined the military, went to war zones. all of these conflicts around the world right now and some of the ways they have been mishandled particularly afghanistan but possibly the middle east and other things. would you still join now if you are just starting again? let me go to you, patrick, first. >> great to be with my former paratrooper lee zeldin. to your point, we love our
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country. if uncle sam said captain murphy, we need you to come back, i am ready to go back. is important to have folks like me who are -- public service. before, four of every five members of congress were veterans. now it's less than one of every five. i'm a new generation of veterans. david: i have a son who went into the military 20 years ago, went into the marine corps. obviously very proud of him but i encouraged him to do that. i am not sure i would encourage him as much today if he were to join for the first time. do you feel the same? would you go as automatically today as you did when you joined up for the first time.
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>> 100% enthusiastically. i signed up before 9/11 but once september 11th hit, not -- that further affirmed my commitment. i still serve in the reserve and something i get a kick out of being here today, joining patrick murphy, the legal advisor 80 second airborne division and went to that position in 2005. captain patrick murphy. through the years, throughout the years, we stayed in touch, crossed paths, the first time we are able to join to together on an interview. david: my son went in at the same time into iraq in 2,003 as patrick did. we all have connections, finish your thought. >> as a military servicemember i remember when patrick became the undersecretary of the army
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and leaning into it. even though i might be a republican and he might be a democrat, we want to see people working together and serving and we need more people serving in congress were military vets. david: i am happy to hear both of you will join up in a new york second. what about this story? a lot of people wonder whether politics might be behind it. congressman mike turner who is a republican is very much for aid to ukraine, the first to talk openly about this threat. was politics involved? just to get the money for ukraine here? >> the committee where he served as chairman of the committee, he is being honest and see is a threat. speaker johnson says it is not imminent.
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it might not be imminent but we can't ignore the fact that there is war in europe that russia started. we need to make sure we put putin back in a box. he still upset the soviet union broke up, he is trying to put the van back together. he annexed crimea ten years ago and two years ago this march invaded illegally ukraine. david: there are legitimate questions whether we have been tracking the money closely enough. a lot of americans, and and about american funding. >> when you're providing foreign aid. for any conflict, americans want accountability over the
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funding, they want to ensure that stewards of tax dollars are making sure the money is being spent most effectively and secondly as we saw in afghanistan for as long as we were in afghanistan, got to iraq as long as we were in iraq and had a conflict, americans want to know there is a end game on what is victory in any conflict overseas. these are the demands of the american public. whatever side of the aisle you are on, the executive or legislative branch, for or against this funding, it's the duty of the federal government to do a better job providing this info. david: patrick would agree. we've got iran claiming they could take on israel if it was 1-on-1, suggestions they may be close to getting a nuclear bomb. the problems with russia and
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china, those three countries, what's the greatest threat quickly? >> china no doubt. they are a competitor, we can't take on all of them. we need to send a message, how we are acting with ukraine, we cannot, you have to continue the march. stuart: what do you think? lee:china today, but certainly, glad you mentioned russia and iran, deserving a very honorable mention, because they are competing for the title of worst adversary. david: we began with agreement and end with agreement. what a pleasure to have you on. thank you for your service and the respect you have for each other. appreciate it. the fate of american natural gas export in the hands of the house. we have that and the latest on that after the break.
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i think he's having a midlife crisis who's your rock? i'm not. you got us t-mobile home internet lite. after a week of streaming they knocked us down... ...to dial up speeds. like from the 90s. great times. all i can do say is that my life is pre-- i like watching the puddles gather rain. -hey, your mom and i procreated to that song. oh, ew! i think you've said enough. why don't we just switch to xfinity like everyone else? then you would know what year it was. i know what year it is. david: american natural gas exports in limbo. republican facing a showdown over the white house decision to pause liquefied natural gas exports.
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fox news congressional correspondent ozempic teen has more details from the beltway. >> reporter: the gop led house is fighting against climate activists and the biden administration over natural gas, the white house suspended the export of liquefied natural gas, the house is debating a bill which would restore the exports. >> when he shutdown exports it also stifles production in america. that killed jobs at home. why would you want to do that? we have a bill to reverse that policy. >> reporter: democrats argue this was a payback to big energy. the administration says it has the right to suspend the export and reevaluate the policy. congressional democrats backed up the white house. >> the worst part is this whole circus is for garbage lng bill.
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you know who's happy about this republican lng bill? big oil ceos. fossil fuel tycoons. china is thrilled with my republican friends today. wall street is applauding them. this bill is awful for hard-working american families. >> reporter: republicans say the us must remain at the forefront of energy production and lead on the global stage. >> global population will increase across the world to 10 billion people for the next decade, and it is in its current administration. it impacts the entire globe. >> reporter: there's concern heating costs could rise. the move by the white house introduces uncertainty into the market. that could cause energy prices to fluctuate.
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david: thank you very much. my next guest, particularly at britain and its path to net 0 as a warning to the united states but i want to talk gas with him with former ceo andy pudzner. we will talk about your article on britain which is fascinating. we just got a report from shell oil. they've got skin in the game, not exactly a neutral observer but they say global demand for liquefied natural gas will increase 50% by 2040 and we have a pause on exports by the biden administration, doesn't seem to make a lot of sense, does it? >> increased demand for natural gas good for the environment. number 2, could be tremendously
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good for american energy producers. we are the world's largest producer of liquefied natural gas. when we produce more the price goes down. our allies pay less for liquefied natural gas. when we reduce production price goes up and not only do our allies pay more but the profits from those prices generally go to countries that are our enemies without our best interests at heart. this happened with the soviet union in the 80s under reagan when we were able to defeat the soviet union just before the ukrainian war. russia benefited and now we've got an invasion of ukraine. this is bad policy. environmentally, politically and for american jobs and businesses. david: your article points out the uk's net 0 policy will drive that economy into the ground, right?
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>> if you look at the cost of natural gas coming in the uk, talking about a $51 and trade on top of what it cost to pay for the gas itself which is one hundred $60 per megawatt hours. talking 211 hours, much of it because of government and trade policies. the united states, to use natural gas cost 60 one dollars, megawatt hours, tremendous difference and if we policies like the policies the british pursued, a great article, a great report on this called the folly of climate leadership because the uk has tried to be a leader and it is killing the people, people who want to drive to work and heat their homes are getting smashed. david: i remember the days the
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uk had terrible smog emergencies, the coal they were getting energy from. if they run into a jam as a result of net 0 policy they will go back to burning call, if it was a choice between that and starving to death they go back to coal. it will make the situation worse for them, won't it? >> exactly that happened where they had a real increasing called weather and had to reactivate the coal plants. you need to have consistent energy, these renewable sources are inconsistent. there was an article in bloomberg this morning about how the inconsistency of renewable energy sources, you get surges that can cause fires in maui last year.
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this is a problem, something they need to address realistically. david: we don't have much time. as a restaurant or i have to ask your opinion of this congresswoman from california, to raise the minimum wage to $50 an hour. what would that do to restaurant around the country? >> we had a product called the $6 burger when the men wage the mineral wage was $7 an hour. you would end up with a $50 burger. it is ridiculous. you would drive businesses out of business, kill entry-level, who is going to hire high school kid for $50? this is a terrible policy that might be good in one sense. california has to collapse and something like this might accelerate the collapse. this is a terrible terrible policy. david: what you said about california will be happening in a lot of cities and states that
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have these policies but it's a shame you have to go through that. you know what works and what doesn't work. good to see you. thank you for being here. coming up, donald trump is back for his hush money connell case in new york, we go live to the courthouse after this. ♪ t away. i hear that. this bad boy can fix anything. yep, tough day at work, nice cruise will sort you right out. when i'm riding, i'm not even thinking about my painful cavity. well, you shouldn't ignore that. and every time i get stressed about having to pay my bills, i just hop on the bike, man. oh, come on, man, you got to pay your bills. you don't have to worry about anything when you're protected by america's number-one motorcycle insurer. well, you definitely do. those things aren't related, so... ah, yee! oh, that is a vibrating pain.
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constant contact delivers all the tools you need to help your business grow. get started today at constantcontact.com constant contact. helping the small stand tall. david: donald trump is back in court in new york city. the judge in the hush money case against him is expected to decide of his, trial will begin next month. nate foy is live outside the courthouse. >> reporter: the pretrial hearing is over an hour and a
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half, the key take aways are this, the judge denied donald trump's request to throw out the case and the trial will start with jury selection as expected on march 25th, you mark the first criminal trial ever involving a former us president. it is excited to take six weeks. look at this video as the former president left the courthouse moments ago and spoke two times today, once entering the courtroom again after it was all finished and took issue with the trial and the timeline of at all saying this is political interference. >> as far as this is concerned it is election interference by biden, the only way he can think to get elected because he is nothing. i'm honored to sit here. >> reporter: in court donald trump's legal team complained about the start date. todd blanche pointed to the four criminal trial trump faces
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along with his packed political calendar and said it is election interference to start this trial next month. the former president is accused of falsifying his business records while recording payments to his former attorney michael cohen. trump pleads not guilty, call the payments legitimate legal expenses. manhattan da alvin bragg claims trump reimbursed cohen for hush money payments to stormy daniels and another woman. brad will have to prove he did that to conceal another crime. braggg didn't specify that crime but is believed to be related to campaign-finance laws. if convicted on all county faces up to four years in prison but because this is a state case key may even if trump takes the white house he would not be able to pardon himself. we send it back to you. david: in georgia a judge is considering whether to remove fani will is from donald
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trump's election interference case. thanks for being here. let's start with fani willis. for those watching what's going on in the courtroom, we saw nathan wade, very highly paid assistant, questions about her relationship with him and whether he was getting paid by her because he was her boyfriend etc. . after charges came out she ran into a church and said all these charges were based on racism but a lot of evidence seems to validate charges they worked together but he was getting special treatment particularly when it came to the money. how do you think this case should go and could she be removed from the case? >> two questions, the first is whether there is a personal stake by fani in the conviction.
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the second question is whether that's enough to cause recusal. and i will tell you the evidence is going against fani willis. the evidence in the testimony taken on the stand suggest the wade affidavit that was previously filed is incorrect and the relationship started much earlier. if it's true with these two were sharing expenses, could be a powerful basis for re-cues all. even if recusal isn't granted i wouldn't want fani willis as part of the case moving forward. they will need a new prosecutor. i don't think anybody is going to want to move forward with this case. david: there were four codefendants who pleaded already down to lower charges with sydney powell, the attorney. she's not getting jail time. what happens to those people who are ready pleaded guilty, if the case against trump is thrown out?
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>> likely no change. when you answer questions from the judge related to the plea generally speaking you waive the right to a trial and the right to contest issues and you waive the right to appellate relief. there would be very few avenues available for sydney powell and others who pled guilty. that being said. if no jail time is on the menu for them, they are not too disappointed. david: let's move to new york, another case brought by a district attorney who is very political, alvin bragg getting a lot of criticism for not handling the crime situation, focused more on this very political case against donald trump. donald trump claims it's lawfair to prevent him campaigning. in point of fact, the trial begins, in the middle of the campaign season sounds like the former president has a point here.
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>> absolutely he does and his counsel did a fantastic job raising that in front of the judge but it wasn't going to work and we have to find another way. after the final pretrial ended today and the date set at march 25th, there will 25, there will be no further motions to move the trial. as federal criminal defense attorney, donald trump's council is looking through the discovery attempting to find any avenue they can to demand more time. the motion to dismiss was denied. it was a shaky decision, not solid legal footing but they want to kick this can further down the road so trump can continue campaigning. david: the motion was denied because the judge said jack smith's case was going to be delayed so they have time to start the case on march 25th the. what do you 25 the. what do you think of that decision by the judge? >> it was a bit strange given the basis for delaying the
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trial is donald trump's campaign. the reality, when you look at state and federal cases some of them can take years to go to trial. trump is being treated differently than most other criminal defendants in that a trial is shoehorned through during a very important time for the american public. david: which a lot of people call lawfair. thank you for explaining it to us. coming up, insurance costs skyrocketing, jeff flock, the preview was behind the surge. >> reporter: if you think the prices are high, don't go to the auto body repair shop. you may be shocked. stand by. ♪
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david: more signs of inflation in america. car insurance is up 20% in the past year. jeff flock is at the repair shop in pennsylvania. inflation coming down. individual signs but it is still up here. jeff: it is inflation but not just inflation in the case of automobiles. it is the cost of repairing them has gone up. why is that? look at all this technology, sensors, backup sensors, cameras. all of that when you break it,
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crash a car, that has to be repaired and take a look at how much the insurance company is passing on to consumers, almost double what it was ten years ago. why is the repair cost up so high, take a look at the factors, technology definitely costs. aluminum used in vehicles now cost more to repair and is more difficult to repair, evs cost more than gas powered cars, screens on our cars, some people drive and use their phone at the same time. never heard of such a thing. josé, you run this shop. you got to pass on. >> everything is castagna more,
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with aluminum in front. with computers sensors cost a lot of money. jeff: i want to leave you where it costs most to ensure a vehicle. florida and new york the two states that of the top of the list in terms of costs for auto insurance, you get a deal if you live in vermont, idaho, or maine. the cost of food was high, what about the cost of repairing your car. david: the new technology when you get into an accident, it's all related and bottom-line it affects your wallet. the prizes consumers face when they come due. many people weren't expecting
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auto and housing insurance to soar as much as they have. debt elimination expert j warshaw joins me now. let's say someone is following your debt illumination program successfully, doing its work and suddenly you're hit by a 20% increase in insurance, what do you recommend? >> most americans having full coverage, they are paying $212 a month with insurance rates going up the average american saying their bill go up 42, $45 per month which honestly is annoying, a lot of money but i have to say this and i say this with the most empathy possible. if this $45 increase causing you to go into crisis mode as opposed to inconvenience mode you need to take a deeper look at your budget.
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david: i remember, dave ramsey telling me it's difficult to tell people to live within their means because they get used to it but we have to counsel them there are more important things in life than going to starbucks to buy a coffee or downsizing your home or rental living beyond their means in the house you are living in. how difficult is it to get people to do something like that to make a real lifestyle change. >> we have to choose reality. when it comes to insurance there are things that play a part in it. where you live, the climate of where you live if you live in kansas and there's tornadoes or wildfires you are going to have an insurance bumper. if you live somewhere where auto theft is high you will see that bump. you have to understand these
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things play a role. if you live where there's a lot of uninsured motorists on the road you will see the bump in insurance. you have to understand the reality of that but the biggest realities how we choose to possess our vehicles, people who are leasing cars, financing cars are going to pay higher insurance premiums than people who paid vehicles. david: you may want to get out of the leasing and to purchase a used car instead. >> that's right. when you are leasing a vehicle that your highest insurance rate because at the end of the day the leasing company owned the vehicle. if something happens to it, they want to make sure it is covered on all sides and it is similar but financing whereas if you own the car, when it comes to comprehensive, collision, i can pull back on that and if you can cover the cost of your car in cash you can let those go. david: what great advice. i see why dave hired you.
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i think he's having a midlife crisis i'm not. you got us t-mobile home internet lite. after a week of streaming they knocked us down... ...to dial up speeds. like from the 90s. great times. all i can do say is that my life is pre-- i like watching the puddles gather rain. -hey, your mom and i procreated to that song. oh, ew! i think you've said enough. why don't we just switch to xfinity like everyone else? then you would know what year it was. i know what year it is.
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david: right now a second migrant teen accused of tacking nypd officers in times square back in custody. darwin gomez was arrested for robbing a macy's and beating up a security guard, he was already out on bail. former commanding officer of nyc police department's legal bureau joins me now. a pleasure seeing you again. when donald trump said several months ago before this incident it looks like venezuela is emptying its jail getting rid of it scribbles and pouring them through our porous border everybody said that hyperbole, doesn't sound like it now. >> reporter: venezuelans and cubans are very close. there's a lot of back and forth. maduro has taken a page from
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fidel castro, that is the key. castro wouldn't take anybody back. we tried, he said i don't think so. same with maduro. he suspended incoming flights from america. this is part of his overall plan. he doesn't want them back. david: what happened in the 1980s. i was covering the region at the time, we created a task force in miami, fbi, local authorities, dea got involved. it took several years but they managed to squeeze these gangs to nonexistence but in this environment, with the police handcuffed and radical das like alvin bragg, is that possible? >> as enforcement of yours good is what the prosecutors are willing to do, intel is coming out now. is well known there were soft targets in america. new york, chicago, san
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francisco. what do they have in common? soros prosecutors who don't want to look anybody up, attackers in times square who were let out. we see more of this. these guys are making a lot of money and as a result can't argue with success from their perspective. anything is better than venezuelan prison. david: one group in particular, a town, estate in venezuela where a lot of criminals, this is a nasty gang in 2012, a lot of it, they are in city streets. they are checking for tattoos. anyway we can get them? >> social media. they are quite braggadocio's. the criminal mindset as opposed to keeping these quiet, they
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want to publicize, visible on tiktok and other social media apps. and using phones. altered traditional investigatory techniques apply. the cops, fbi and state police do the stuff you do against any old guy, grabbed these guys and do it, dump their cloud or look at what they are doing online and make those connections but only as good as prosecutors. david: 30 seconds. president biden's open borders policy opened up a pandora's box. >> it has. through past experiences every ethnic group that comes to america play that slippage between the official government and what new immigrants want to do. they prey on their own people. these groups are preying on americans. david: we will be right back,
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