watching. guy. >> mel i know you love that bet move. its right up your alley. >> 100. >> yeah. 100. qualcom makes you wonder. after that intel report. >> all right. thank you for watching fast. with he will see you back tomorrow at five. don't go away. mad money starts right now. my mission is simple. to make you money. i'm here to level the playing field for all investors. there's always a bulw ark in summer. mad money starts now. >> hey. welcome to mad money. welcome to kramer. i'm just trying to make you some money. my knob is not just to entertain you but educate and teach you. call me or tweet me at jim

kramer. yes, it is true. not one with you two days in a row despite the huge rate hike. dow tacking on another 332 points. the s&p gaining 1.21%. and the nasdaq gaining 1.0%. everybody knew that 75 basis rate like was coming. the surprise yesterday was when the fed chief made it clear he will pause and see how much the economy is -- even from his own hikes. ford decides to slam the brakes on again. is he going data independent. flabbergasted. listen to -- managers. what after another telling people we are going into the -- severe down turn or worse a

period of stagflation. they could not have been more negative. when you get two straight quarters of negative gdp stocks. worse, this is a recession with high inflation. that is a total nightmare we haven't seen in decades. i couldn't believe my ears frankly. this new conventional wisdom. at least to me is this horrible wave of bills being spewed our way and i hate to wade through it. i said i disagree with all the naysayers. take the other side of their

trade. said it out loud this morning. i said it twice. nobody likes getting old. least of all me but one advantage of being an ancient mariner is i have seen so many psyche manies that i know when the fed said one and wait. when the fed is saying we have taken the tough medicine we need, have you to realize that you are no longer fighting the fed when you buy stocks. we heard from j powell yesterday was extremely bullish, not bearish. how about atagflation? it's never really happened. it was such an experience for an entire generation. you never hear the end of it. back in august of 1988 i experienced my first bout of stagflation. >> i was running a small hedge fund. i had worked all week on my negative stagflation. i was so smart. all sorts of jimmy carter and

paul -- references. i was so -- historical and i presented to her. lock, stock and barrel on a sunday night before we went back to work. she was thoughtfully, she nodded. then the next morning she put all of our money to work buying stocks hand over fist and then she borrowed about $50 million on top of it. i was -- i was fit to be tied. i was furious. especially because she did most of the buying when she asked me to get her a soft pretzel and diet coke dontes. i got back and said what gives? i said but -- i used a few of the seven words you can't say on television. how could you bet against your own husband like that? >> that was easy. >> simple she said you represent the conventional wisdom, jim. everybody is saying the same thing and that thing would probably be dead wrong. sure enough the stagflation disappeared and our fund made a fortune in about a week.

that is what happens when everybody gets negative about something that is a theory. some two quarter down field that they are talking about. you can finally get a good turn on it. when the fed gets out of the way you have a real window. have you to jump through it. that's what happened today and yesterday. today the average exploding. aided by the recognition that we could be in a recession. that's good news right now. many are too young to remember that what the recession comes the fed has the good sense to stop raising rates. that paused me and you have to buy stocks. always. always. stocks like what? i don't know. let's think about it.

what would you buy? i don't know. how about apple? sounds good right? it jumped in after hours trading on a better than expected quarter. that's probably -- kind of prolonged -- how about amazon which exploded higher on a surprise beat. this is what i are he session looks like i have to tell you i'm feeling good. my view on apple? it's new. own it, don't trade it. once again i saw people selling it, shorting it, covering, deferring but for owning t they have no faith in management. producing the greatest technology achievement of our lifetime. one that sells great every year. unlike just about -- every other company out there they hedge against the strong dollar. they are smart. amazon, better than expected numbers and even more great forecast. here is the news flash. during covid we forgot what we liked amazon about so much. it's because it's cheaper attempt it's a stock of a company that crush itself in web services which you would

know if you watched the show. also offers real value to new consumers. and they are getting costs under control. they have shrunk the work force by 100,000 people. there will soon be a glut of homes. chips will finally be widely available. a glut of cars. we know there are huge apparel gluts, wal-mart, best buy, this morning. this is an inventory glut recession, not a layoff procession so you can buy stock itself there is nothing else from the fed or washington. then it turns out that washington said giving you not one but two good things. they pass the chip stock.

especially in ohio. buy -- at the same time its looking like the senate may pass hundreds of millions of dollars in green energy. you know what that means in an explosion of profits for the solar industry but everybody is already thought about that. the semi conductor industry. here are one that are still working. both of those cohorts are oning. the office ones have been taken. you put it together and recognize as i have said again and again. the window to buy near the end of the cycle opens and then closes in just a couple of days. the bottom line, i think that window has arrived you don't want to close it on yourself like just about everybody else i heard today. told you to do. dan in california. >> thank you for taking my

call. of course. >> the question i have is regarding calloway golf. they have a -- i can think its like a subsides. it is called top golf. i play golf about 2 or 3 time a week and every person i have ever talked to absolutely loves this thing. my question. >> listen here dan. chip brewer, we had him on. he has expand top. everybody wants top golf. i want top golf. i'm not even a golfer. you know what? my golfing friend who is also my research director and one man band he loves golf. i know that we play together. the symbol eli. they have to put more top golf. mike in maryland. mike. >> how you doing? quick question. >> mike couldn't be better. how about you? what's up? >> good. >> why? >> as a company. you think they will recover? >> i don't -- as a company, as

a -- it doesn't matter. lyft is not cutting it. nice people. how about we go to kyle in illinois. kyle. do go head. >> jimmy zucchini. >> they are coming in so great. there are more than what they can do with them. >> love your gardener. love -- >> okay. what are we doing? >> jim, listen this is not a consumer recession. this is like a business supply inventory recession. consumers have cash and they are traveling. here is what i want to know. they report next week. buy before or after earnings? expedia. >> you know what? you put a gun to my head. i say take that gun away. i like expedia. you know what's better than them? alphabet.

you get -- you get swamp people. you have waymo. google cloud services. youtube. window to buy near the end of the cycle opens and closes in just a couple of days. buy. money tonight. health products. could trash be treasure for your portfolio. if wm could be the answer for you and top and bottom line. i will sit down with the ce i want you to stay with kramer.

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8.1% organic. they are going in the right direction. sugar is going in the right direction. earlier today we got a chance to check this with mark schneider. the ceo of netflix. take a look. >> mark i know this is a strange thing to do because are you one of the world's greatest food companies. i'm starting this interview by holding up a pair of be a beautiful pair of sneakers that you have sent and they are made with something. nespreso?

and of course these sneakers repsychable. they are fun. they are a good sign that they are here to stay. what do they have to do? >> go on the website of usetta. zeta and you can order them online and they are just beautiful. >> great. now, since i started this show, when someone wants to diversify away from the dollar and wants steady, good growth i have sent people to nestle. now proudly several hundred billion dollars. the new nestles one that does acquisition is always on top of things. has changed as you have and i have to tell you. here we are in love with orgain.

their approach is very much admired. the found certify a cancer survivor, a dollar that is versed in the science of perfect nutrition. we felt that his approach is exactly what is called for these days. the least -- are delicious. they organic and we believe they are wonderful addition to our portfolio. >> it's very interesting because i know that -- you do it on amazon prime day. you were the most featured object. is that -- something that you have been working in terms of using a digital ad campaign? many bought from that prime day. >> yeah. look. digital is one of our key

marketing strategies these days. we aim to have about 25% of our sales online by the year 2025. clearly covid was a starting shot for digital e commerce in food and driving. i think now it's here to stay. consumers like to order from home and it's a significant opportunity. >> you mentioned home and covid. to me the greatest theme that came from home and covid was not work at home. it was pets and more pets. i am a huge, huge pet owner. we ha many to be someone who takes dogs what are kill centers. i have had -- a huge number of cats. we are purina people. i -- the spokesperson for purina. thing that didn't work out because it was just something we fed six cats with. if you can tell people about how this is an amazing brand and by the way a great hedge for the strong dollar verses

the euro. >> yeah. and look. i have just spent a bit of time at the purina world quarters last week. here is a company that's totally, dedicated to the health and well being of pets and is really built around that. we admire that focus and i think that foe does is paying off. clearly the pet business happened on fire even before covid. with covid we saw pet adoption rates go up so much and we see that those pets staying with those families. you know significant step up in the demand for pet food as people want to get the best nutrition for their bets. way. do we do? i know throughout your conference call you mentioned again you have freight problems.

>>announcer: what you have seen in slow downs and down thank yous and that is some partst consumer trades up and another part of the base is trading down. it's usually the midprice point that's getting squeezed. we pay attention to premium producks but we pay attention to affordable products and to -- i think by covering both ends of this pricing spectrum we are doing well and serving people's needs. >> let's talk and tell me about affordable products. nestle you this i about sustaining mission. that's something that seems to be just one of the things that's really important to you and your company. can you tell us about it? >> yeah. absolutely. and -- think about areas like africa or some of the poorer

parts of southeast asia. we are -- if you price up a product it may make the difference between a consumer having a dinner or going home at night hungry. it's something that is key if you want to serve those consumers. in this environment to offer high quality food, that is enriched and still affordable. is a significant challenge. >> i want to say congratulations to you. you have done much better than everybody else in your group. not making a lot of money for share holders but it doesn't matter. you aren't losing a lot like so many and you have been a big winner overtime which is what matters. we are huge fans of nestle. not just the stock but the products which we do consume and our pets consume. i want to thank so much the mark schneider ceo of nestl, for coming on the show.

always a joy to see you. thank you so much. >> thank you. thank you for having me. >> he we will be back after the break. >> coming up waste not, want not? kramer goes green with a company that's turning your trash into treasure. next.

we have had -- which wall street likes to use as a -- to determine if recession is use. the economy said the national bureau of economic research aren't there yet. this receipt official ones. who heard of a recession with 3.6% of unemployment? i like it hear from individual companies. that's how money is made. i want the one was their finger on the pulse of the economy. companies like wm.

you don't know what that one is? it's formerly waste management. number one player in the waste disposable. this is a highly -- commerce construction translates in to -- trash and yesterday wm reported a beautiful quarter. you how do they do? >> let's look at jim fish. the president and ceo of wwm. jim, congratulations. really incredible numbers and as long as i have talked to -- since you took the job, i think this may be your single best quarter and your best growth year afteryear. >> i think that you may be right. considering what's going on in the economy i know we saw gdp numbers come in soft today.

i guess we are looking at a -- a small recession. so the fact that our organic growth is as good as it was, top line, bottom line action i think you may be right. this may be the best quarter ever. >> it's made of a number of things. one thing that's most certain you have been careful in the business you take. construction has been great for you. your landfills always in the right place. it came together. i couldn't find any one thing i wanted to point out other than great pricing, good -- really good places to go to work. your landfills just killing it. >> really if you look at the growth of the business for the quarter it was really driven by the core business itself. a solid waste business was up over 100 million and then the renewable natural gas business is up 14. the cycling up 5. those are two very good businesses for us. we talked about sustaining a lot recently and then we are investing in those going forward. the solid waste business did

well in the quarter. >> renewables. you have a very ambitionous plan that people need to know about. wbm i know people vacate a second. what if are they doing for the environment. this renewable natural gas is for real. >> it is. you know it's -- if you come to one of these facilities they are amazing. you look at the trucks coming in the front door and the depositing the landfill and then look at us cleaning it up on the back end and turning into pipeline gas that we turn around and sell halt a premium and we have the ability because of our natural gas fleet which is now almost 75% of the routed vehicles to sell the credit. the rem stress. >> when -- we went to one of the gas stations in camden, new jersey t was almost like it was a pilot program. now it just turns out to be a great place to do business. >> we said we will -- spend

over 800 million over the next four years to build these out. we will build 21 plants. the bottom line impact is sipping. the current natural gas and rem pricing could be 800 or a billion dollars in bottom line impacts. >> that's amazing. the other thing i like. the automatian. when people leave -- this is what the fed wants. you are the answer. you are beginning to automate jobs that are good job its but would be better done by machines. tell us about your decision to be able to make so there are one day, maybe driverless trucks but absolutely pick ups being not required, so many people in the back. >> it's not unique to us. it's not unique even to our industry. have you seen this great -- this kind of great resignation is what i have been referring to. it's affecting us. we have a lot of jobs that have

now become high turnover positions. the question is as opposed to refilling one of those jobs and we -- substitute with technology. we have jobs that are -- almost 50% turnovers. are you replacing -- that work force in two years time. itself applying technology when he have attritioon and lowering the cost of turnoverful the cost is high and the other thing that -- probably worth mentioning we are upscaling some of these jobs. some something that comes off the back of a track. the helper as we transition from those traditional reload trucks to the automated side loader is a perfect candidate to upscale into a drivable position. >> do you think you would have a hard time filling slots because of all the job hopping that's going on around the country? >> i think that we -- we will

fill our slots. not just in our industry but everybody that employs drivers. if it's wal-mart or whoever. the pie of drivers is shrinking. not sure why. if it's the younger generation decided they don't want to buy trucks but we will get ours. no reason not to take advantage of the attritian with technology. the cost of that turnover is high. >> you would like inflation to slow down and it would be better for your business. most come out and they just -- say we don't want the fed to tighten but you really do. you know that inflation erodes everybody's wealth. i think that is great. there so few people that stand up and say it. you are willing to do it. >> i -- you know i was asked the question yesterday on the call. what's the right number? i said 9.1 is not the right number. that's the wrong number.

i think it'll come back down. i really do. obviously at these 40 year highs but i do think the number comes back down and it's a benefit to us. it's not only a benefit to the consumer. the consumer benefits by having three or 4% inflation verses 9%. similar to banks for us where the spreads are hiveer at lower rates. our -- the amount of price that goes to margin expansion is better for us when inflation is lower. right now i have kind of described it as a bit of a street fight when are you looking at 9.1 inflation. just to coach the costs increases. when inflation comes back down to a more reasonable number at 3 or 4%, then i think you will see us put a higher number of that price increase on the bottom line through margin expansion. that. would be great through share holders. have you had a very good run for them. congratulations to jim fish who is the ceo of wm.

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phizer reported a fantastic quarter. just a monster earnings that you rarely expect from a big pharma company. one that the president just took. unfortunately the stock only got hit any way. congress may be about to do something about the drug prices which is not great for the drug

companies. i think it's a mistake. don't take it from me. we got the chance to speak to the chairman, ceo of phizer. take a look. >> albert you had great numbers today. your products exceeding all expectations. tell me what it's like to have the bingest beef, the biggest beef -- that i have ever seen and how you accomplished that. >> you know even more for me is that we touch the lives of 850 million people approximately which is 70% higher than last year. that gave us this very big bit. if you create value for patients are you going to have value for the share holder. this year, this quarter is -- the highest ever in the history of the phizer and i believe the higher in the history of industry and to exkeyed to $2 in eps but was 100% growth. i feel very proud. >> what is amazing about your -- you have very clear goals

and you are mission driven. you will put so much more -- but you care passionately about the dividend that matters to our viewers. how are you going to break down some of those profits? >> you are absolutely right. we care about the proper location. cover many -- in 2019. we are located 82 billions of capitol. of this 50 billion, 52 billion went to our -- to in 25 external. 25 of this 82. yes, 8 # billion to -- 86 went to dividend. er because we know that is an important part of the investment. we will continue our locating this capitol in the way that we create most value. value for patients and share holders. >> it's worked so far. did you feel a bit of pride

when the president took medication and went back to work? >> i -- i felt relief. the president is an important figure and of course he is -- he his age is higher than -- in the high 70s so it was important to feel that he is well protected and i'm very happy that among the -- right now we are having almost 400,000 prescriptions per week. >> are you a doctor f you are my doctor would you recommend boosters every wow months. that's what my doctor says i should do. i get all sorts of different information. >> the right thing is to

advise to list tent doctor. i'm not your doctor. he is. he knows better your history. he knows better the products and he can recommend the right regime for you. for doses, as my doctor did. >> okay. fair enough. now you made an acquisition and you are doing it in a novel way. are you keeping your company. something that i don't think people understand which is bio haven pharma. i'm the spokesperson for the american foundation because i suffered from 26migraines a month which is a lot. then bia haven came along with the cgrp drug. there are billions of suffers of migrain eric s. i no he that one thing that they felt terrible about was that the

message couldn't get out. with phizer. will you get the message out that there is some hope for you? >> i think first of all we started with the fantastic made which is the reason why we did this acquisition. the clinical data plus the real world data is extraordinary. that's where we start. clearing in the hands of phizer which is much bigger scale operation. i think we should be able to communicate the benefits of the product in a way more broad audience and then by having -- we are looking forward that will be one of our things next year whether we -- >> i look forward to it. my spokesperson. i better do a good job. you will. now with all these great things you are doing. if it's nurtec, bio haven or of course with your anti covid vaccine it seems almost rude and frankly ill advised that the government decided that

this is the time for medicare to crack down. when i speak of the government doing that obviously we don't know where it is in congress. can you describe what could happen because to me the gem of our country is you and the other drug companies. i hate to see that go away. >> yeah. i'm very disappointed to hear the news. we don't know what will happen. also what are -- the agreements. what i'm hearing they are doing too late for the patients which i think is a -- will reduce the out of pocket for 2,000 a year but they do it from 25 if i understand well and that's not good. then they are taxing this industry. the only under industry in this bill but specific -- singled out to be taxed with 270 and only 10% of that will go to the patient. the rest will go to the federal budget and the black hole. i don't think its right. as you said i don't think it's the right time to do it.

we are about to leave a -- most frustrated the value that brings to society and the global economy including the united states economy the contribution is what is safe. the the economy is really disappointing to see that we are singled out. >> you have a fantastic pipeline. are you spending fortunes and the reward seems to be that the government wants to basically put a tax on you. will it hurt your pipeline development? your rnd? >> of course it'll. i think that when we see something like that i'm sure that many companies -- particularly those that they don't have the means or the balance sheet will have to come down on rnd. the industry worked out that this bill will reduce hundred medicines that would have been invented will not because the cost right now it is almost 3 billion to have a medicine if you take 300 billion out. that's approximately what will be the impact. i think that it's -- i hope that the more -- will prevail

eventually and they will not do with it. >> one last question. there's a lot of variants. no matter what, when you find -- in the fall hopefully the fda approves it. so we all go take it because the variants different from what i had already i know, would it make sense to get the new one? >> i think that generally it would be a very big need. i think that when -- they approve it, if they approve it, we are all working to be able to do that in the fall. the earlier part of the fall and i'm confident now that we will be able to deliver. some of the most difficult milestones that could delay a project we mavsed with flying colors. now we will be able to deliver. i think that doctors will likely recommend to -- for everybody to do it give then we are about to experience a big wave of variants. >> hear that but i have to tell you we have you on our

side against covid which is dramatic. i want to say congratulations for all your -- i'm glad you your family survived the holocaust. i'm glad that you are here to be able to make so thatls live who otherwise wouldn't. i wish the chinese would sit down with you. they need mrna. you know they wouldn't be in the fix they are in. chairman and ceo of phizer. you believe me, right that if you had china you could do it? the lockdown would end, correct? >> i think so. they are buying medication in china but they don't want the externally made. they want to use their own. >> i think this is that -- that is just plain hubris. i prefer the life you have given so many. chairman and ceo of phizer. it's an honor to have you on the show. thank you, sir. coming up. kramer wants to hear from you. your calls, on the lightning

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play the sound and then the lightning round is over. are you ready? start with. cedric. >> how are you today? >> couldn't be better. how about you? >> i'm doing great. thank you. one question for you. [inaudible] >> too many companies doing the same thing as they are and

they losing money. cell. cell. cell. molly in ohio. >> great to talk to you. hello. >> i am doing good. how you doing? >> i'm doing great. great to talk to you. listen. my stock is occidental. >> [inaudible] what's going on? what's going on? why didn't you buy any? let's go to larry in florida. >> how are you jim? >> i'm good. how are you? >> [inaudible] 15 billion. >> cell. cell. cell. they have been horrible as long as i have been doing this and i will double down. cell. cell. cell. ben which happened to be my grandfather's name and ben soto's name. ben in pennsylvania. ben. >> how is it going? big fan of the show. >> good day. it's a good day to talk summer

to pennsylvania. what's going on? >> that's right. iclr. >> i love the contract -- i love the contract conscience cal business. you make so much money in it. i think it's great. let's go to george in massachusetts. george. > hi jim. i own a stock with a five year annual growth rate. 56% in earnings per share. it's 11 and has no depth. what do you think of [inaudible]? >> no. never been a fan. perhaps because i just think people don't think it has enough -- it's not as rigorous as it should be about losing weight. not as much of a health care company as it should be. him prefer nestle. they are more of a health care company. now vincent in my home state of new jersey. vincent. >> how you doing? >>

i want to know about any d transfer. >> you have too. what can i tell snow they are one of the most poorly run companies but they are [inaudible] so how do you loose? you can't. >> that was easy. >> one more. one more. let's go to reid in texas. >> hey. jimmy. how are you sure? >> i'm chilling. how about you? >> first time long time. i want to thank you for all that you do for the individual investor. i'm doing my best. sometimes i screw up. so does everybody else. what's up? >> i want to get your thoughts on ti or texas insurance. >> my thoughts easy. all board. buy. what a quarter. oh no. with that, it's the conclusion of the lightning round.

you won't want to miss this. kramer at home with a hot take on the day's biggest news next.

so torn. you just get so torn in this business. every day. especially during reporting season. we have a lot of companies including meta platforms. the old facebook which is one of the biggest quantdries the travel trust has ever phone. miner the 50s and 60s, rode it all the way to the 2000s. as the stock came down from its high we bought some back because i though they could get through the urrent down turn. i unfortunately was wrong. he couldn't pull it off. they gave discourage guidance for the next quarter. talkingabout 26 of 38.5.

we were hoping for 30.4 billion. the operative term there, hope. yeah. hope. instead of being clinical and passionate about the stock the way you should be i legality my feeings get in the way and bet on the genius of mark zuckerburg who pulled a rabbit out of the hat with facebook and instagram. he couldn't do it this time. sure which is his answer to tiktok will have a one million dollars run rate, maybe more but tiktok is on a $12 billion run rate. even though reel is ahead of instagram. it's still an under dog going up against a rabid competition. social media it's much better to be number one than number 2. let's get back to the real mistake i made with meta. i bet on the jockey, not the horse. >> the house of pain. >> even though i used the quest meta verse platform and

found it great it's ungainly and nowhere where it needs to be. because i bet on the jockey i missd that the horse is subject to the weight of his expensive projects and the industry wide decline in advertising revenue. according to meta this is something that will only get worse because things getting much harder. lesson of course is that as compelling as it is to believe in someone, it almost never works in the long haul. the good news i think after this the horse is derisk. i like that the stock tested but didn't breach it's late june low. nobody is expecting growth and you don't get growth but you get pricing discipline. they have $40 billion in the bank. a stock tends to get a pass. it would have been better to just sell everything when meta was over $10 billion. i think eventually reels will be bigger many millions of

people will get into the meta verse but if i assess the numbers the real horse, rather than blindly trusting the jockey my trust would be in much better shape right now. i like to say there's as a market and i promise to try to find it not a recession? then what is it? i am shepard smith and this is the news on cnbc . the economy shrinks again. prices for everything keep going up. recession? >> two back to back quarters. it's not good. >> state of emergency. >> it is one of the most deadly floods we've had in kentucky. the