tv Cavuto Coast to Coast FOX Business February 27, 2024 12:00pm-1:00pm EST
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number one:4. stuart: mike? mike:i will go number 2, seven. stuart: i am going to go with 4. we are right. there are incisors, canines, paris maulers and molars. mike:wisdom wasn't in there. stuart: wisdom is our molars, we are told. neil: what is a front tooth? we are not done. what are those called? ripping and tearing? ladies and gentlemen, stick around. and 5 seconds, ashley webster
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is in for neil,. ashley: breaking now on cavuto coast-to-coast up our meeting in the oval office, president biden meeting with top dogs of the house and senate, the border, the wars and the looming government shutdown. we are on top of all of it. this is cavuto coast-to-coast. now to the white house where president biden is meeting with top congressional leaders on both sides of the aisle. peter doocy, what are you hearing? >> reporter: we are hearing from the president five minutes ago, he think the most urgent thing these leaders are talking about in the oval office is money for ukraine, but the most time sensitive thing on the
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agenda is funding, has to be done by midnight friday. >> is there going to be a government shutdown? >> no. we will work to prevent that. >> any chance of a government shutdown? there was a state of the union as well, that's not a problem? >> reporter: there is real concern that it can't be prevented. enough republicans are worried about being primary in their districts from the right because that means these republicans may not back anything but a short-term spending bill. >> hard right chaos agents in the house do not represent a majority of republicans in the country. they don't represent a majority of republicans in the senate. they do not even represent a majority of republicans in the house and yet they are trying to bully everyone house -- else into submission. >> reporter: it's not one of those meetings that will stretch all day until they come up with an agreement.
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the president's scheduled us to sit down for lunch with the vice president in 45 minutes. we should get a status update about where things stand, whether a government shutdown is more or less likely by the end of this our. ashley: here we go again on this issue. let's get reaction from republican tennessee senator bill haggerty. thank you for joining us. let's start with the prospect of a partial government shutdown. chuck schumer is blaming the hard right chaos agents in the house. what's your take on this? >> ludicrous that chuck schumer calls republicans chaos agents when he is captain chaos. we passed all 12 appropriations bills out of senate appropriations committee in july of last year. chuck schumer only brought three of those to the floor. he is the one practicing this
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pinball strategy bouncing from one crisis to the next. he is the captain of chaos and it's quite ludicrous. that he would be suggesting this is the republicans fault. neil: some senators are worried how shutdown looks months from the general election. i will get your comment from republican congressman bob goodthe. she talked to this. >> it would be worse to exacerbate the problem to increase our debt and spending which is unprecedented, to fund a government that is facilitating the border invasion. why give biden and mayorkas millions of dollars to keep doing this to the american people. ashley: there are those who say this government shutdown even
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if it is partial does a lot of damage to republican lawmakers with the election just ahead. >> everyone is trying to find a path forward, it may involve short-term continuing resolution. we move through the senate appropriations committee, it is not perfect but they are the most conservative, we need to get to work with the house rule, that is not going to mean we have a partial shutdown this weekend or whether we find a means to continue this a few weeks to get it going but that's the focus for the white house, should be the conversation taking place in the white house if we are going to responsible about managing this. ashley: you got a firsthand look. describe to us what you saw down there.
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>> i have been to the board in california and arizona and texas multiple times. the visit i took last week is the worst that i've seen, it's utter mayhem down there. the sheriff of kenny county said the rest of the country is going to -- problem after problem crop up in city after city, seeing it in georgia, new york, these are deep problems being facilitated by the open border policies of the biden administration. a rancher showed me his ranch, 1500 acres between the rio grande river and union pacific rail line coming into the interior of the country. we found -- they didn't present themselves at the border to get treatment from the biden administration, they come another way. ask yourselves what is it your here to do? his wife woke him up one
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morning early, hearing noise in the kitchen. this is their home. 1/5 generation rancher in texas. there are 20 military age adult males, when he told them to leave, they told him they were out of beer and he needed to get them some more. americans having to live like this was they want him is 18-year-old daughter and his son need to be armenta when they go on go on the property or have somebody who is armed. americans should not be subjected to this but the biden administration is doing that. i went to eagle pass where texas governor greg abbott is taking control back to that area. it's a small area but demonstrated once you start enforcing the law, the illegal migration stops. you need to stop it. tennessee national guard demonstrates time and again until the biden administration realizes if you enforce the law you can stop this mayhem.
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ashley: the president is going to pay a visit to the border later this week. he will blame republicans for refusing to approve his legislation to provide funding and security which is galling you say. >> another rich orwellian process. you have a botnet ministration who precipitated the problem in 2021 saying there's no problem in 22, mayorkas says the border secure, then biden says no problem at the southern border. election year, there's a problem and that's great legislation that doesn't work and then blame it on republicans if it fails to pass in an immediate vote with no time. the fact that he's doing it underscores political naïveté of the biden white house, that they show up at this point in time after precipitated the crisis and blame it on the other side is preposterous. ashley: makes your eyes roll. senator bill cassidy, thank you for stopping by and talking
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with us. investors seem to be not fazed by the looming shutdown but more focused on earnings and the fed's favorite inflation gauge which will come out later this week. guess who joins us now, hedge fund manager jonathan honing. we've seen a fair amount of green lately. it is a bit muted today, but could a potential government shutdown throw a wrench in this? >> the s&p is up 30% in the last year. the tech stocks are up 70%. the high tech darling like nvidia is up 200% in the last year. government had nothing to do with it. innovation at these companies when you look at the data even more interesting, government shutdowns tend to have no effect on the market.
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in the mid-1970s the market tends to be up half of the time moderately half of 1%, tends to be higher, exclusively 12 months after the government shutdown. maybe the market likes it. it seems when it comes to annual returns. ashley: at some point these stocks, they have to take a break, they can't continually drag the market. what do you say? >> that's why the inflation data thursday in particular is so important. it was higher inflation that wrecked the market in tech stocks in 2022 and we are starting to see inflationary indicators creep up again. not what the white house is having you believe but inflation is falling and we get the pce number thursday and this is a large increase that's
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expected, largest increase of the year in interest rates going up. the market is beating the fed and behind the market because interest rates head up and inflation continuing. ashley: we had lowe's and macy's, lowe's said that sales are starting to drop down to 3% compared to last year. macy's called growth stagnant and announcing closures of hundred stores, they may open others. there's a definite pattern, the sentiment from both companies was we are slowing down. what's your take on it? >> the consumer is tapped out, hardship withdrawals from 401(k)s is near its all-time high, seeing record credit card debt for the average american's opening expansion on credit cards, not only lowe's anticipating slower spending but macy's is shutting 150
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stores. not a great endorsement of a strong consumer as they continue to bite at who's feeling at the most. the average american putting more life on the credit card instead of investing in their future. ashley: you are absolutely right. thanks for joining us. thank you. coming up next on the show it seems mortgage rates are not the only housing gauge on the rise, home prices now coming and at all-time highs. we will dig into the data from the case-schiller index next. ♪ (vo) what does it mean to be rich? maybe rich is less about reaching a magic number... and more about discovering magic.
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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. ashley: bitcoin hitting 57,000 in more than two years, and lifting the rest of the crypto market, it is theory up 3200. charlie gasparino is here to tell us what's happening in the crypto world. from ftx and all that fraud, it
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has been on fire. >> here's what we know. this is an interesting, a scoop for fox business. watching the surge on bitcoin, bitcoin's rise, essentially put a lot of pressure on the us power grid. why is that? that to them, a lot of people in the crypto industry do this. bitcoin is mind by computers figuring out questions and problems, those take up a lot of electricity on the power grid.
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so much and flow of retail investors putting money on etfs. they were approved by the sec. bitcoin minors can't mind fast enough. the price is going up as they try to create more bitcoin. in the crypto industry from the biden administration. the biden administration is worried that it will put a strain on the power grid. is this a real worry or a theoretical worry. people in the crypto industry tell us it's purely theoretical, it doesn't have that impact.
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they are sending letters out, crypto minors to turn over information, stuff is going on at the white house regarding this. the price of bitcoin, in the energy department, the whole notion, it is environmentally safe, the electrical grid is something they are paying close attention to. you can but they are going to ramp up a regulatory regime. back to you, crazy times we live in. ashley: we say that every day,
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every week. charles: the lights are tough starting to flicker, they are going dim. ashley: thank you very much. the latest report from case-schiller showing home prices in december. mortgage demand is dragging. thanks for being here. there is a theory out there that we are all going to become a nation of renters, the only generations. are we there yet, do you think? >> most important thing the homebuyer needs with respect to renting is while rents of stock fund and cooled a little bit, what we are going to see on my side is prices won't come down
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and neither are rates. if you are a buyer, and buying power, don't go back into the rental market. take this opportunity to see if you can find, and some affordability to count when you can't buy again. ashley: 30 year fixed mortgages don't want to sell the house. they face higher interest rate on a new home. the lack of inventory is a significant factor in keeping prices higher because there is no supply? >> absolutely. the lack of inventory we are seeing, for over a year, it was really high.
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there are baby boomers, empty nesters, selling the bestsellers as far as people who would unload their homes and have more inventory but don't know where to go. there's such inventory on the buy side. ashley: it is interesting. used to be a segment we called starter homes. getting someone on the housing ladder so to speak. starter homes out there. stuart: home starts haven't been hit that hard. the issue with developers and those building new homes, dealing with higher rates. if there's not enough certainty in the future to sell at their prices they need to sell because of the fact of these rates. you are seeing that across the board and we will have an
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issue. ashley: how long do we stay in this fog if you like to college, how long does it go on? >> interest rates will stay high, that could change at any given moment but the idea of being in high 6s and 7s is what biotech metabolized and they are starting to move even at those rates. this will go for a why all. inflation isn't coming down. longer detail to that. there continues to be a shortage keeping housing prices high. adam: challenging environment. thank you for your expertise on what is going on in housing. coming up, guess what, it's primary day in michigan, live at a polling place talking to voters where some michigan
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ashley: voting is underway in michigan where donald trump and nikki haley are facing off in another primary and president biden facing a test of his own. grady trimble live this afternoon in bloomfield, michigan. >> reporter: of the polls are right, donald trump is on track for another big win. he's counting on stronger support from michigan's blue-collar workers and voters who think the top issues this election are immigration, the economy, and crime. listen to voters describing why immigration is such an important issue for them this election.
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>> what do you think of the current administration's handling of the border? >> i think it could be a whole lot better. i don't know if there's a lot of handling of it. honestly. >> the border is terrible. the border is terrible. >> reporter: as the former president looks ahead to the general election, he is teasing possible vp picks. he met with south dakota governor christie noem, nikki haley is doing everything she can to stop trump or eat into his lead here. trump says the party is unified, she's making the case in michigan and other supertuesday states that he is dividing the party and can't win in november. president biden's challenger isn't under the candidate but the campaign from progressives encouraging democrats to vote uncommitted instead of 4 biden as a way to protest his
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handling of the war in gaza. that push has democratic voters talking get. >> i was excited that this was a chance to bring down biden. >> do you think they are helping donald trump? >> they are helping him in this situation. >> one last note on the gop primary. 16 delegates up for grabs decided by voters as they head to the polls. another 39 will be divvied out at state gop run convention, that's how we get to the poll, 55 delegates up for grabs in the gop primary. a little confusing but hopefully that straightened that out. ashley: you explained it very well as always. some pro-palestinian progressives, launching the protest vote against the
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president, president biden is hopeful for a cease-fire sometime next week, how big of an impact will this make for progressive voters. sarah chamberlain and patrick murphy. thanks for being here. biden says this the day of the michigan primary, hoping for this cease-fire by monday. does that send a message to those democrats, progressive democrats in michigan who have been telling everyone to vote uncommitted? what say you? >> absolutely, no question it was planned in the ice cream parlor. i hope the owners of the ice cream parlor get more business out of this but he sat there and said that over his ice cream cone and he is hoping not as many people vote uncommitted which was 10,000 people, to send him a strong message and president biden needs michigan or cannot be reelected.
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ashley: is it merely symbolic? i don't think there is danger of biden having any problems in michigan but the fact that he made this announcement on gaza seems like an effort to appease the progressives. what say you? >> president biden looks at what's going on with israel, hamas, as the commander in chief, as father two people who served in our military, not as a politician. he sent the secretary of state israel five times, we are negotiating, been negotiating for weeks and we are at the 1 yard line looking for a cease-fire. no one is arguing israel has a right to self defense. the right to destroy hamas, the terrorist group. the palestinian civilians, every innocent was killed. 5 to 10 people will be radicalized. we have to be smart about this. this is the lesson we learned
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in iraq and afghanistan and that is what president biden is trying to do. ashley: to the other party. nikki haley trying to prevent donors from dashing the koch back group called americans for prosperity, switching its focus to congressional races. charlie gasparino saying this is a broader movement among donors. this is looking pretty dire for nikki haley. wouldn't you agree? >> absolutely. don't know why she is in the race. donald trump has it under control. she will get blown out in michigan i suspect today. i'm thrilled to have the koches moving their money to the senate. time for the republicans to have control of the united states senate. ashley: let me change subjects to what i heard president biden
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say to seth meyers. he started making fun of donald trump's age when the age issue came up. not a good strategy in my opinion because trump is 7778 in june, he is still fairly dynamic. the complete opposite to president biden. what say you? >> the reality is most americans, i hear the polling and arguments, who said donald trump and president biden are too old to run, they were both in high school at the same time. to your point i think president biden has delivered. i think most rational people would say he's gotten the economy back on the right track, 15 million new jobs, stock market the highest it has ever been in american history. a lot more work we have to do. inflation is too high, got to bring it down, keep it under 3%, the two point range which is now and gas prices, $6 a
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gallon, it's down to $3.24, got to keep pushing it down. for all americans, we need to move forward. people are counting on moving in the right direction and not where it was. ashley: we have to leave it there. sarah chamberlain, patrick murphy, thanks for being on cavuto coast-to-coast. coming up, the largest supermarket merger in history may be in jeopardy. both sides say your groceries will go up depending on the outcome. we will dig into the story after the break. ♪
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what are the implications for the grocery sector. how do you see it playing out and what are the implications? >> reporter: the government is talking about the greed of corporations being the cause of high grocery prices, nothing to do with the inflation they cause but going after these companies. antitrust is ineffective, immoral and impractical, and and and it's important in industry like groceries. there was massive profit margin of 1.7% and the government saying no competition. what about instant car, amazon, renewable places for consumers to get groceries. standing in the way of this merger is in the way of progress for the economy. ashley: if you play devils
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advocate, the less companies in a certain sector the easier it is to dominate and set prices wherever they want. >> look at the history. and staples and office depot, a merger that had to happen and these companies become more effective in the marketplace. same thing with the airlines, the ftc stop the merger between us airways and united airlines. alternately they end up merging anyway but didn't have the seal of approval on that deal so that's not objective law. if you are against wokesm you should be against antitrust law. this merger they like, this when they don't. purely on political reasons. ashley: the government says
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won't let them go through but what happens do you think? >> ideally it goes to court but you've seen companies actually walk away and both their stocks and investors suffering. with the government doesn't see as it brings new investment out of the industry. the businessman is guilty until proven innocent. raise prices too higher too low, companies wanting to merge, to innovate, it's a real negative from the companies, for anyone who wants to invest in the american economy. ashley: thank you so much. i want to shift your attention to capitol hill where us sanctions against russia in focus.
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the kremlin is deviating export control of semiconductors. hillary vaughan is on capitol hill with what you need to know. >> reporter: ukrainian troops were shocked when they opened up russian missiles and find us semiconductor chips inside of them. us lawmakers want to know how they got there. with sanctions in place russia shouldn't be getting their hands on prized technology but they are and are not gerri rigging the chips from something else either. >> makes little sense that russia would buy a washing machine for apart they could obtain easily unless a washing machine can fly, which i doubt, the components you find in russian drones do not fit. >> russian washing machines are not flying yet. it is irrefutable that the
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russians have found a way to export the controls. >> they been in armored vehicles, according to the school of economics, the top 5 producers from january and october of last year are intel, huawei, texas instruments. four out of the five us companies. experts told lawmakers stronger controls need to be on place for those sending products to russia and should face consequences if those countries don't cooperate but there needs to be buy in from the tech companies to ensure enforcement, that their products are not making their way into weaponry but some are doubtful that will do it. >> all kinds of things we can do to plug the holes. i doubt it. i saw the chart. it will be huawei and other
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people supplying these things. in terms of sanctions being even raided they will always be a faded. you plug one whole and another one opening up. >> reporter: through tougher sanctions or something else, cutting off the supplies critical, ukrainian president zelenskyy telling lawmakers stopping this is crucial to ukrainian defense. ashley: thank you very much. much appreciated. is this sanctuary city dream fading in new york city? live report from a migrant shelter after the break. ♪ maybe rich is less about reaching a magic number... and more about discovering magic. rich is being able to keep your loved ones close.
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ashley: big cities feeling the cost of the migrant crisis and changing their tune. mayor eric adams doubling down on calls to change the big apple's sanctuary city laws. madison alworth outside of migrant shelter this afternoon. what's going on here? madison: what the mayor wants to do is specifically change
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the sanctuary laws that revolve around ice. what he wants to do, in the case the migrant commits a violent crime he wants police officers to work with ice. even if a migrant does something like a shooting, they are unable to work with the agency. take a listen. >> the small numbers that are committing crimes, need to modify the sanctuary city law. if you commit a felony, violent act, we should have you departed. it is a right to live in this city. you should not becoming crimes in our city. >> reporter: the move a big change for adams who promise new york city will remain a sanctuary city when he was running for office but now he is changing the tune and it's not the first time adams suggested changes to sanctuary status but this comes after a series of violent incidents involved migrants including an alleged attack on police
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officers, shooting in times square and violent robberies. they cut spinning on migrants, and the crisis is costing $10.6 billion through the middle of next year. officials are tapping into the 24 savings and pulling millions from the budget. this meant a reduction in services, reduced hours. in this year's budget the state and county, 250 million, that's not sitting well with minority residents who say migrants are being prioritized over their local communities. they are not alone in their discontent. a new survey from gallup shows immigration is the top issue among americans.
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the first time we have seen it rise officially to the top since 2019. ashley: thank you very much for that. i want to some reaction, let's go to legal bureau commanding officer paul morrow. when i read this headline i thought i misread it. you would think anyone committed a crime have already committed the crime by being here illegally whether you think they are claiming asylum or not but they commit a crime and eric adams says we should turn these people over to ice. at least it is a step in the right direction. >> a meaningless step. let's be clear on the situation in new york. new york city has a sanctuary status this down to the legislature. the mayor can't change, he has to go to them but doesn't call them out. clips like you just played are
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very low risk situations for the mayor. he can say these things but there's no political capital involved. the mayor has incentivized this by giving services to migrants he's not required to do including credit cards that don't have any id checks, can be over $10,000 per family, but also went on a trip to central and south america. he said he would try to discourage the migrants and he did the opposite. is very adept at calibrating what he says to his audience. ashley: he likes to emphasize a very small number of migrants committing crime, whether it is organized gangs operated. it's a significant problem.
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>> one of the things that is emerging is valid joy of -- venezuelans gaining at prisons as castro did in the 1980s, there's no willingness to recognize they are getting a significant common-law element here. governor hochul and mayor adams announced they want to use these unvented migrants with no ability to check into, to fill government jobs. she wants to go to work on university of new york campuses. mayor adams is talking about using them to fill lifeguard positions. that puts you in contact with the very agents gangs recruit from, middle school and high school. we all know the trend they are on the we need to be concerned about. the bottom line is we have no ability to vet them. people kalinga here now, no
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idea how to reach back, and quite predictably, the president of venezuela has suspended the repatriation flights. one of the things we need to recognize, all of these people, the criminals are here on a 1-way ticket, no place to put them, no place to send them. ashley: it is infuriating but it is what is. thank you for stating it so clearly. appreciate your time today, thank you very much. we are going to have more cavuto coast-to-coast right after this. businesses go further with 5g solutions. that's why they choose t-mobile for business. pga of america and t-mobile are partnering
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so you can feel confident in your financial choices. voya, well planned, well invested, well protected. ashley: one more look at the markets, downward momentum, the dow taking it down 175 points, the s&p down 0.2%. markets treading water is the way others like to say, looking for direction, investors looking for the inflation number, markets eyeing primary fourth-quarter gdp tomorrow. a lot of waiting for data. taylor riggs
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