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tv   Cavuto Coast to Coast  FBC  February 29, 2024 12:00pm-1:00pm EST

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ashley, you first. lauren: i will go with the tallest, 1350. stuart: you are new yorker, what have you got? >> 1550. stuart: you are staten island kind of gal, what do you think? lauren: i will go with number 2, 1110 feet. stuart: i'm going -- on with lauren. 1110. brenberg and ashley got it right which if you are looking to move the cheapest apartment available cost 6. $5 million. a penthouse is $195 million. a swing in the wind. thanks for sticking around for the entire hour. we will watch "the big money show" at 1:00 pm eastern time on fox business and sending your friday feedback too. coast-to-coast starts now.
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neil: how about buyers and sellers, read it and leap at the corner of wall and broad, final extra day of february. opened up a lot for a while but still for the month pretty good. leap year put an extra kick in that. mostly good news on inflation, not as much is the newfound interest over the month and anything artificial intelligence. that has investors buying technology. we are four hours from wrapping up the second month of the year it really wasn't for the month all about technology. meridian equity partners on what he sees and what he likes as we wrap up the month. great having you. what do you make of how we are ending the market. the dow is little under pressure, the s&p and the nasdaq around record territory. what do you think of it? >> we look at economic data coming in every day that will
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dictate the market, we see what's happening today, the market is going back-and-forth, not really understanding how to digest this information because what we've done is we've become so dependent on this data and the data is leading us to win is the fed going to reduce rate and if it's going to happen. we keep going back-and-forth on this. we are in stable in our markets by having a good productive february year to date things have been going well but if we keep hanging our hat on when the fed is going to lower rates and how that's going to affect our economy we are going to stay in this range back and forth, the numbers came in line is expected, no new news, we take that is good news thinking this might move the timeline up a little bit but into next week, more fed speakers coming down the pike, we will look at job numbers and that might shift our sentiment back-and-forth. overall markets seems it can
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absorb this news as we wait to see what's going to come when the fed announces march 20th. adam: one thing that's interesting, you've been a great reader of this, not getting caught up in the frenzy but this widespread expectation that interest rates were going to be cut early this year, they said as early as march. i'm not smart enough to know but wouldn't the markets be happy a soft landing looks doable, very unlikely for the time being to raise rates, that could happen too but net net, that's a pretty good foundation for stocks. >> it is. that's what we are hoping for, this foundation there. we have to get out of the mindset of its going to happen anytime soon. if you take our domestic economic issues we have on the geopolitical issues the fed is being forced to push this down the road further and further. we were discussing in march
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it's not going to happen in march, next conversation will be in june. if we get past the june date keep in mind with got an important november date coming up with an election. as we get closer to that the fed says we won't be politically driven but that will come into play as far as the impact of elections on market versus interest rates, the timing of that will be very critical so as it gets pushed down the road i think that window to pool rates back in might get tighter and tighter therefore the fed has all the ammunition in their hands to hold off a little longer and longer. there's a lot of information, a lot of unknowns that give them reason to pause. we shouldn't look at that as a negative. neil: a number of fed governors saying, quote, the last year's inflation readings have shown it's going to be a bumpy path
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to get to 2% inflation. he is stating the obvious and a lot of other comments are obvious that it will be a bumpy ride but making clear that 2% inflation is the goal before they consider rate cuts of any source, that doesn't strike me as a fox alert. what do you think? >> that goal is a nice goal to have. do we actually get back there and how much time does it take? that will come into play. we will hear from fed speakers. a lot of that is managing expectations. we see when the fed cheek -- speaker speaks, the markets react, we dissect every word from this speech to the prior speech so a lot is managing expectations. they are setting us up for a choppy road ahead. doesn't mean the markets will be choppy but the overall path to get where we want to go is choppy but it will take a
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longer time. that's the expectation they are trying to put on us. the message has been loud and clear, can we all get past it, i don't think june is on the table. a lot could happen between now and then but if it does come off the table there could be longer impacts to that. neil: you have a remarkable ability to speak english so even a thick skull like mine can comprehend it. have a wonderful week and weekend. we are also following developed on the political front. i don't believe we've seen this ever, two presidents going to the border, the former one in the present one and a lot of attention being paid to what they will be doing. lydia has more from brownsville, texas. >> reporter: dueling visits to border towns along the texas
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mexico border playing out between president biden and donald trump. president biden will be visiting here, brownsville texas later this afternoon to talk about immigration. a real sign that immigration and border security is having a flash point in this race for the white house in 2,020 will. i had a chance to talk to residents and small business owners about what they think of president biden's visit, listen to what they had to say. >> he's wasting his time. mister president, what are you doing here? by a stroke of a pen you can stop this. you don't need congress. >> feels like a day late and a dollar short. >> don't know what his purpose is. we've had the situation for years. he has not shown up. it seems too little too late. >> reporter: one of the reasons residents are critical of the choice to come here is illegal border crossings here have dropped sharply from the highs
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of last year but thousands at that time were apprehended in a single day. they say biden is looking for a follow-up to make it look like crossings are not as bad as they are. over the last 5 days brownsville has had only 46 apprehensions but there's this development this morning, that roughly 100 migrants crossed in brownsville using bolt cutters to penetrate the border. our producer shot this video of migrants being processed and bustout this morning at even with the overnight jumping activity the encounters are still not close to the numbers seen in eagle pass, texas, more than 300 miles west of where we are in brownsville. in eagle pass, more than 2000 apprehensions were made over the past 5 days that is where we will see donald trump making his stop on the border today. he has made immigration and border control central to his agenda while he is calling --
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if he were to retake the white house president biden will spend his time criticizing house republicans for abandoning bipartisan talks on a border deal. back to you. neil: as lydia pointed out donald trump will be in eagle pass, texas. around the 4:00 hour on the east coast we will be hearing from both presidents, the present one and the former one, covering that at 4 p.m. eastern time. ahead of that steve james, montana senator of the national republican senatorial committee kind enough to join us. great seeing you. what do you make of these competing visits to the border? >> reminds me of dueling banjos. president biden can't find his banjo. it is ridiculous. the reason president biden is headed to the southern border is not because he is trying to solve the border crisis problem, he has a political crisis. biden's numbers are the worst we've seen in 70 years at this
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time of a presidency, he's. mccarter's numbers, you need to go back to 1940 to see numbers worse, he has a political crisis. he knows the american people see this as the number one national issue. if he wanted to solve the problem he doesn't have to go to the southern border. why doesn't he stay in his office, reinstate the orders donald trump put in place that biden reversed, that would be more than any follow-up that president biden can create on the southern border. neil: as for the former president when he goes to eagle pass he will say i was a guy building a wall and all of a sudden that froze under this president but he wasn't very helpful when it came to this bipartisan measure to try to get something done. there is ample criticism on both sides of that measure but many republicans were afraid to support it because he didn't like it. what do you think of that? >> reporter: the reason donald trump didn't like it, that i didn't like it, it didn't solve
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the problem. the problem is you've got president biden refusing to want to stop the flow, the flood of illegals, this can be done through executive order just like donald trump did when he was in office. the day he was sworn into office president biden, on the western steps of the capital watching the inauguration goes to the oval office, suspends building of the border wall, reverses the remaining mexico policies, i don't think they will solve the problem. his policies were not sufficient to solve the problem and biden was not going to enforce them anyway because he has the tools he needs right now to put a major dent to stop this flow of illegals that are invading the southern border.
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neil: he might do what you were recommending and rescind prior executive orders by tightening security at the border, we don't know all the details of the state of the union address but many in your party have been critical, he blinked. should you take that victory and see what he does? >> he could stay in his office, stay at the white house and execute orders that need to be done to protect us. this is a national security crisis. not his immigration fight, this is a national security crisis. i spoke with a high-level individual from central asia this week who told me they estimated 50,000 central asians have come into our country illegally and are concerned some are on the fbi terror watch list, part of sleep or terror cells. this is the time one of these individuals will act and commit an act of terror on the
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homeland. this is why the president must act now to protect our country. neil: while i've got you here, mitch mcconnell is stepping down from leadership in november. your name has popped up as a possible candidate to take over the chief role. are you interested? >> i'm grateful to work with leader mcconnell. what he did with donald trump transforming the supreme court, a legacy for mitch mcconnell and got the trump tax cuts passed, biggest tax cuts in a generation until covid hit. i've got one focus. i'm currently chairman elected leadership by my colleagues of the republican senatorial committee. my focus is to make sure we have a majority leader election in november of this year. my task is win back the majority, i am focused. neil: if you win back the majority, your name comes up, what do you think?
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>> i have a lot of colleagues interested in that job. first and foremost, i want to make sure we put our heads down, get a great leadership team in place because after donald trump is elected which i'm confident he will be in november 2024 we will have an opportunity in front of us to reverse the policies of this administration, to put the right cabinet officials and the trump administration and take far left, far left leaders biden has in place, renewing the trump tax cuts that expire, we have a treasure trove of things we can do for this country when we have the majority back. neil: deft nonanswer to my question as it should be. good seeing you again. thank you. in the meantime, us mortgage rates up for the fourth week in a row at two months high. this is always a problem even though they are under 7% at
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6.94% as a prospective. a year ago at this time 30 year fixed was 6. 65%. in a response one way or the other in the market to this, these numbers wiggle around, saying 3/10 of a point range but it's a reminder that rates are still a problem when you could push close to the 7% mark but it is better to be under than over. bitcoin coming off of its highs but in and out of 62, $63,000 coin range that was getting a lot of quality, weird to say about bitcoin. a little less now but a heady advance after a two year high. more after this. ♪ ♪
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adam: we are told it is the federal reserve's preferred inflation statistics that are out there. personal expenditure numbers especially the core numbers, something they focus on. year over year, month over
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month, not bad but not going down dramatically here and that's the worry because until we get to 2% year over year, the fed is indicating it won't be doing anything. at the school of business, a former st. louis fed president kind enough to join us. verify for me, you're all brilliant, you especially but when that pce program, enjoys even that. >> how did it get that reputation? it was because alan greenspan in the 90s did a review of different ways to measure inflation. the outcome of that was the personal consumption expenditure was viewed as a
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broader measure of inflation and better signal of the overall inflation picture. ever since then there hasn't been another review. it is stuck in the alan greenspan era. neil: the core of each of that when you take out things like food and energy, the favorite of our favorite of these various numbers and that is the latest period, 4% for for the month of 2.8% from a year. what i am trying to get at here is both would have to be, the core and the general number, at least that is the thing. is it? >> i don't think so. the chair, jay powell, said we could lower the policy rates before we get to 2%.
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interest rate would be too high for that moment. the idea to move ahead of this, the worry has been it is hanging up the inflation rate close to 3% and a little more certainty that inflation is coming down so you have the year over year number from 2.922.8, sounds like hairsplitting and it is. they were motivated to start moving and inflation is going back. the monthly number is hot, 0.4. that is what is making people nervous. neil: do you think we will see
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rate cuts of this year? might be june. the economy strong enough, inflationary issue is firm enough to hold off anything like a rate cut for the whole year. what do you think? >> my former colleague chris waller, his speech was what's the rush. they have been rebounding here, not as fast. that is okay but as inflation comes down, the policy rate was moved to that level.
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you should take some of that to move the policy rate lower. is what everyone is arguing about. neil: everyone has their tea leaves to figure it out. sooner or later we get an idea. in the meantime, add another billionaire central banker guy who loves the central banks to a degree but he's in the investment banking business and he sees a problem in the financial capital of the world. capitalism liked what jamie dimon is saying that should add -- have politicians worrying after this. ♪ ♪ bacon and eggs 25/7. you're darn right.
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adam: neil: there's a lot of confusion about donald trump and his legal problems, can you run out the clock on all of these and adjudicate until after the election? if that's the case if elected maybe they will go away. you have some thoughts on this, former deputy assistant attorney general, former law clerk for justice thomas. love having you on. the supreme court's move to hear oral arguments on his claim of having immunity from prosecution, if you are not going to get until our allow arguments until then in this case was supposed to start soon you can see it put off quite some time until after the election. >> donald trump may have successfully deflected the main threat from other coronal trials because the case you are
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talking about is the january 6th case against donald trump for committing insurrection. although the prosecutor jack smith didn't charge him with of that. the court schedule arguments for april 22nd, the week of that, the decision won't come out until june at the latest and then a trial if you are lucky starting in august. neil: the atlanta one, the whole thing going on with the prosecutor, that could see fans about i will us getting thrown out if not the entire case dropped and started again. what does your gut tell you there? >> a difference between a federal trial we were talking about and the fani will is georgia trial. if donald trump can get the federal case delayed, and wins the presidency, he has the power to order the justice department to drop back
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prosecution and that's order. the georgia case is outside donald trump's power. he can't pardon himself which he could for a federal case but that case seems to be imploding. we talked about the problems fani will is had planned, the conflict of interest developed in the development of the indictment, i can see that being transferred to someone else, different prosecutor and why would the da want to this disaster of a case? i could see them dropping that as well. those are the biggest challenges to donald trump coming out of the colonel justice system and they may disappear. neil: the fani case, there was a push by donald trump to make a federal case hinting at what powers he might have as newly elected president to wash it away, they did that.
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>> jack smith ended up bringing a set of charges, charged trump with fraud which is used against contractors and charged trump with obstructing congressional proceeding which is usually used for white-collar crimes, people deify subpoenas and so on. what smith did is dropped the stuff fani did, he wanted it to be clean and quick and before the election but with trump going to the supreme court, it may be smith's strategy didn't work. fans about i's sprawling investigation, the things people thought jack smith was going to do but he ended up dropping them in favor of speed but i don't think it will work for him. neil: the biggest pressure our civil cases, the $90 billion,
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$454 million, they can collateralize this, can find them, what do you make of that. >> the damage award has serious problems we talked about before. the damages that were suffered, trump might have an interesting claim to get to the supreme court but the requirement you put $450 million down to have a right to appeal is a problem and i hope he can find it because he has some rates he out to be able to litigate but who will lend him money? the court said he is a bad person to lend money to, he lies on his applications. neil: early on when the cases were first heard you were
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picking them apart, what could make them unravel and they are beginning to unravel. always good seeing you. >> thanks. neil: charlie gasparino sees things long before others. he knew about the integrity environment in new york, going after donald trump adding insult to injury, had jamie dimon the latest big financier, this is not a hospitable environment, new york officials don't want business but texas sure does. what did you think of that? charles: it has been a slow drip and not so slow lately. the business environment is so much better.
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people can telecommute, get meetings in florida and that is what is going on here. the overriding issue with what's going on with trump adding back to the conversation. the fact that you can be penalized, $400 million for what is a victimless crime, mortgage application, what he sent to deutsche bank that got paid is freaking out people like jamie dimon. i wrote about it in the new york post, the number was down and people saying if the attorney general can do this, the new york attorney general to sort of broad powers to bring charges, with parking tickets. stuff that wouldn't fly under
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normal fraud statutes. people have been talking about this for years, 400 million over nothing, you get find. that has david solomon at goldman sachs, everybody freaked out. new york state law, new york state, we broadcast to the world, big business is located in new york city, all these people understand they were domiciled in the city and subject to politicians, if you know where the democratic party is going this is not the bill clinton mario cuomo andrew cuomo democratic party. this is socialist stuff. you cover the state legislature with a passing interest, you know you are at the mercy of
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left-wing radicals, and what is the offramp, you have leases here. it's not that easy but trust me, the trump thing put a chill in the air. neil: have taxes don't get you, searching through your records will. that a legitimate issue. charlie gasparino, heads up the tsa with us. for the consumer being tapped out, the numbers don't support that argument, what he has to tell us after this. ♪
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gold. standing the test of time. "cavuto coast to coast" 20 neil: parents and my next guest, the tsa administrator has to make sure everyone is out fast and safely. good to have you. >> good to be here, thank you. neil: the consumer is tapped out, stop spending, i don't see it when it comes to packed airports or any of that. bookings when you talk to major characters are solid through late summer, early fall.
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your sense of the demand and air travel is? >> incredibly strong. we look at last calendar year. growth was 13%. that the highest rate of growth, we talked about spring break in the opening. compared to last year's spring break, probably a 6%, the volume occurs in the summer time. we expect 2,024 overall will be a busy year. neil: we had delays and flight disruptions. the nature of the beast, fewer of late. the industry is up to handling this? >> they travel extensively and we work closely with air
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carriers and airlines. they are up to handling that and we are looking forward to a successful 24. neil: do you go through security lines your self? >> every single time, yes i do. neil: ever tempted to say do you know who i am? you do? we are going to make this even more difficult. >> i never do that. it's a great experience because i see from a customer perspective how it is working and i get to interact with my officers when i'm going through the screening process. it's beneficial for me as the administrator and allows me to reflect up to them how much i appreciate the work day in and day out. neil: someone who is carrying a gallon of liquid and they know
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you can't do that and just getting stuff on the line. do you ever yell at them? >> we are putting new technology in place that will make the problem less of a concern because people don't have to wait for the person in front of them to be next in line. four in six get things out of their carry-on bag, somebody is slower, doesn't hold you up. neil: let me ask about other issues the last few months, firearm detections last year around christmas time. what is going on here?
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>> we discussed 737 firearms. it is 6042. numbers going up. every passenger has a firearm in the check point. you don't have a firearm with you and it slows everybody down. that particular passenger likely a fine, they will lose their pre-check status for a time and they might have local law enforcement. trying to message you can travel with a firearm from a check point. neil: that firearm. you should know more than you lose frequent flyer awards or something like that.
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that's a serious deal. >> a serious deal that's concerning for obvious reasons. there's one that's more of a phenomenon post covid. we see more instances of physical violence in aircraft. if you have access to a firearm that's a bad combination in-flight. we do a good job with these firearms. our goal and messaging is to get people to think of it. when you start with your travel, start with a clean bag. the things you are allowed to carry back into it. neil: everyone is yelling and shouting at each other, bring it down a notch. you seem like a good guy. >> there is a law that was passed by congress called the undetectable firearms act.
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manufacturers and distributors of firearms make sure they have metallic content in the shape of a firearm. in those factors, x-ray screening, that law gets reauthorized. it's coming up for reauthorization right now, a week from friday. we are working hard to make sure the leadership of congress, how important it is, this number of firearms ever before. that is essential at this time. neil: a busy travel time. every one of the same. what if all i do isn't enough? or what if i can do diabetes differently? (vo) now you can with once-weekly mounjaro.
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i think he's having a midlife crisis i'm not. you got us t-mobile home internet lite.
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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. >> welcome back to coast-to-coast. i'm gerri willis. weight watchers stock shedding 25% after oprah and announces she's leaving the board of directors, serving the company's board since 2017 but will not seek reelection in may, she reduced her stake in the company from roughly 10% to 1.4%, she will donate her
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financial interest of one million shares in the company to the national museum of african-american history and culture in washington dc. this marks a shift in the weight loss industry. winfrey admitted using weight loss drugs and weight watchers over $100 million to acquire telehealth service sequence which provides blue tide like owes them pick -- ozempic. the change of weight loss is happening quickly. weight watchers reported earnings and posted a net loss over $88 million for the quarter, that's twice the losses suffered in the same quarter a year ago. the company for weight watchers is promoting use of these drugs is contradicting their founding principles. self-discipline and losing weight the old-fashioned way. they have an uphill climb if they want to adapt to turn the company around. back to you.
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neil: we will see what magic she does. george campbell is with us, personal financial expert. i want to go into this, a lot of people pay that out of pocket. they say it's about health and fitness. that's a big amount to pay. what do you think of people who do that? >> if you want to pay cash for that, that's fine. people falling for so many traps, buy now pay later, putting on the credit card, even taking out 401(k) loans to cover these procedures or diet fads or going on that vacation we are seeing with consumer spending. neil: consumer spending is going well, the notion they are tapped out our credit lines tapped out, they are getting close to that but doesn't
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affect spending, just with tsa officials saying demand is robust. all these resource. what are you worried about? you are not happy with people spending money bottom line. >> i love to see the joy, i don't love to see payments six months later because they put it on the card and feel they are beating the system and what is scary is consumer spending has gone up and we see credit card debt at all time highs over a trillion dollars, auto loan debt at all time highs, these committees are smart like we saw with college tuition, people are willing to spend more when it is monopoly money from sallie mae so they keep raising the price. we keep taking out car loans and the same thing happening with these by now pay later credit card companies. it's a trap that leaves us broke wondering who's going to fix this, congress needs to fix the spending. we note to look at our own spending first.
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neil: people want to enjoy themselves but feel they can't so they turn -- they are depressed as hell. what do you tell them? >> dave ramsey has been known to say rice and beans, amputate the tahoe, you need short-term sacrifice if you want longer-term wealth. what this comes down to is getting on a budget, a spending plan and start to go what can we cut? if we didn't have these debt payments that would add $1000 to the margin and budget every month. if you ask 5 questions, the x's for self awareness, will this add value to my life? every purpose has to serve a purpose. do we have this in cash or in full today? the are is for research? the t is for timing. is now the time to buy it? you need to think about opportunity costs.
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adam: adam: three hours of trading to go, the s&p, the nasdaq in and out of record territory, not so much the dow. jackie deangelis and copy, you guys. jackie: you look so young i thyo

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