judy e shelton and don luskin on that. and commodities are breaking out, so where are the best opportunitiesesome and lessons from jerry seinfeld on the need for several revenue streams, especially in the age of runaway prices. and by the way, why is america so unhappy? if our happiness is fading fast. all that and so much more on "making money." ♪ ♪ charles: all right, so this morning nike, actually after the bell yesterday, reported their numbers, right? but this morning they were competing with fedex to see which one of these would be the hottest stock in the market, right, this session. and then came the conference call. the company actually says, well, they see sales slowing down in north america. by the way, despite if what the media has tried to paint the mare ty. also -- narrative. also china sales are weakening as well, so management offered tepid growth expectations and they're going to focus on cutting $2 billion in costs over 3 years. that was around 31 minutes into the earnings call. the shares absolutely coll

i want to bring in someone a captain of industry if you will, don luskin.s have become a four-letter word again. is there any truth to this, the businesses are greedy? >> oh, for god's sakes, please, please, i'm not a captain of industry. i'm only a sergeant of industry. high margins don't mean companies are evil. they mean capitalism is working. that is because profits and margins aren't the same thing. you can make more profits working like a dog to sell more stuff, or, you can make more profits by finding new innovative ways to do old things better. to do more with less. that improves your margins. over the last four years we've been working harder. we're working 2.6% more hours than we used to but the private sector is producing 9.2% more goods and services. just working 2.6% more hours. that is where the margins come from. that is productivity. that is capitalism. where people are free to innovate. what is greedy about that? what is wrong with that? charles: you know you're a strong defender of this. today the business roundtable came out with a update

luskin great to see you.i got to play you a sound bite from jim grant, i was with jim grant last week i don't know if you saw what he said he is not buying a rate cut anytime soon he told me, that he would not even be surprised if the fed decided it might have to raise interest rates because inflation is elevated we saw that in cpi and ppi last week your thoughts? >> well -- grant certainly,waerdz pretty bow tice i do not agree there is no way facing any kind of risk of row surging inflation for rate hikes to chuck it, you know there was that time in late 1976, when jim grant and i were young looked like inflation was slain then came back, so inflation is hard to kill you think you kill it, it comes back it happens that once when it happened money supply was exploding largest year-over-year change in money supply in history, until three years ago when we did pandemic spending that is what caused this inflation the money supply is in first ever outright contraction in the modern history of data inflation going

yesterday our guest don luskin said capitalism is not greed. it is freedom to innovate.ary agrees, tweeting, excellent, excellent description of free-market capitalism by don today on the show, nailed it. while mat noticed the shirt was buttoned up more than usual i think he is in fear mode. i agree. walker saying love when charles is on. great advice half of the time i take fashion notes on his suits. did you see kenny's suits today? my man is coming at me. we love sharing commentaries with you. i tweet during the commercial. let's interact. ben bernanke famously said economists are extremely bad at predicting turning points. what does that mean for the folks in charge? this is supposed to be predicting one or two things, soft landing or hard landing, no big deal. here is a great deal, two of the very best economists on the street in studio next. ♪. jorge has always put the ones he loves first. but when it comes to caring for his teeth he's let his own maintenance take a back seat. well maybe it's time to shift gears on that. because aspen dental has the latest technolo