tv Mad Money CNBC August 24, 2022 6:00pm-7:00pm EDT
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losing money at it and i get ridiculed for it but the stock is going to split 3 for 1. the last time a split in august of 2020 ran up hard and sold out 30% the month later. i think the stock could sell off. again, i wouldn't be buying it. fast money starts now!>> i am cramer, just trying to make you little bit of money. my job is not just to entertain but to teach about how the markets were, just call me or
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tweet me, here's someone no one is willing to do, no one,>> it doesn't matter that it was like we are in the middle of june, the spikes in the 120s, 10 year treasury yield, 3.5%, and the future looks very bleak. the averages at the lowe's and since then they have made a remarkable recovery. sotile weird that we don't hear about the bottom being called, moving in bonds, and oil, and ultimately finishing up only 6 points, the appointment -- the nasdaq gain for what 1%, maybe we've got to bottom, one of they say that? check it out, listening to excellent work for my colleague, michael centrally, is that -- is set done with
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scott. santolli>> one of the biggest changes in the business, over the past say three decades, that i've been involved in, 4, three decades of the fork i really started, no one wants to stick their neck out anymore, no one wants to say that was the bottom and we are in the clear, even when we have bounced hard from the bottom. and playing a brutal role the dynamic out it's a mistake, and the black swan disaster, renders third-quarter, or the scenario, you will be known as a fool. those clips never go away, that's why commentators don't have much to say when you try to call the bottom, if they are right you don't get much credit, but if they are wrong, let's just say they will never ever live it down.>> [ booing
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]. >> and the false bottom, with the tombstone. willing to take the risk in part, a big chunk of people no matter what, mainly because i like where we are right now, testing the lowe's, we numbers from salesforce.com, and they were weak, pretty reason to be apprehensive but i'm betting the market will bend and not break through september, when we get through the period, the joomla! will hold, it won't be easy, a bunch of new negative factors but i want to stick my claim today ahead of the jackson hole speeches, from the fed chief, powell and grissom, y, and mid june, just got a triple rate hike that week, june 15.
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a pretty staggering move by the feds, it shows they mean business but historically we don't get a lot of 75 basis bumps, wall street blessed up, taking it in place and really seriously. the next day, tremendous buyers remorse in the stock market, seem to to assume that things were very much out of control. and they figured we would get hit with a series of additional rate hikes, aggressive ones, we had to steal ourselves from encouraging reports, fed tightening, a groovy period, the reports will be bad, to the point were brought down nearly everything, i'm so confident that these lowe's that we are talking about right here might represent a bottom, so many people capitulated and cut short, tend to look at the stock in a valley -- vacuum,
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how the individual stocks and mutual funds, the asset classes, the often make big mistakes, dubbing stocks in the lowe's in june. when we got the first 75 basis point rate hike instead of buying them. if you only look at the stock market, you would have missed the bottom, the impact of the rate hike, bondholders and commodity traders had a different reaction, they decided that he was no longer to be trifled with, 10 year treasuries hand over fist, the yield started coming down, at the same time oil prices spiked, and ruled over, a rather amazing, the first spike and then the second one, oil rolled over even though it was in the one to his. you know how important it is to the inflation food chain, we should have realized, this is a monumental story, we never heard the end of it when oil
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was on its way up here somehow it may -- it became a nonissue on the way down, that was wrong. and how did so many investors miss this? even the coverage in opec, it was about russia striking gold with india, finding markets outside of china, would have bottled up, oil would've gone through the roof, but india could not resist the cheap crude, the bottom guys, the most important commodity, buying the bonds and buying the bonds, causing the selling of stocks to stop, and how about the stock market investors, second quarter numbers be terrible in the guidance would be worse, that is what normally happens when the fed tightens like crazy, but it has not happened yet, it didn't happen,
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the vast majority of companies, finding a huge number, and with the exception of companies that forecasted to high and the strong dollar, customers who are nervous and most importantly retailers, misjudged everything about the consumer, since the june lows, nothing is happened to shatter the reality of the bottom. prices plunging, and devastating the oil stocks while creating a nice rally, they tend to trade the opposite direction. that we've had a bounce in the basics, of late, and the normal commodities, have to be careful, immodest spike in oil but the latter wasn't enough to offset what came up today, the decline in home prices, first time in three years, the largest decline since 2011, the over production, us-led
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embargo, highly unlikely, it will not going back to those levels, why does it matter -- matter? bigger causing the collapse in corporate earnings, i think they will hold. the june lows, i didn't say they should, i said they will home. and reckless abandon, if they keep raising rates, and the lowe's, in september but again i'm confident they will hold. and in united states, and overseas, across europe right now, more of the stuff, and the cup runneth over, 20 faster than ever. an economy that has not crashed under the weight of code restrictions like china, and not a war, russian ukraine, when corporations are adding services in europe, we have
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much to be grateful for the united states, including the glorious june 16 bottom, and i for one, am a believer, and the risk of one more presentation, and make it look like a more on, but like yourselves out.>> a gym. >> hello neil. >> i'm calling about the sam spinoff, which is complicated, and the offering to exchange the 3m stock, and the spinoff. and following the transaction, and the shares, and any profit, and when it converts. and they will participate. >> it is worth selling 3m, not
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enough there, yield or earnings, to make it so that it is worth owning. and michelle, let's go to her in new hampshire. michelle?>> yes. good evening. how are you. >> on fine, and good. and and we've been benefiting when united rentals recent -- recently appreciated a bump after reported earnings. and is this the time for the prophet, and long-term investment. and in between.>> and the beneficiary of the infrastructure spending. and therefore, and hold on. and no one is going to fall
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bottom but i'm willing to stand by the glorious bottom in the middle of june, i think it will hold and then but not break. and what could be gleaned from the supporters, i got the exclusive deal. as you send up that, classic bad money to us on fantasy, and a lineup of stocks that might be worth watching. and incorporating wall street, worried about, or hoping for, running through the numbers. so stay with kramer. don't miss a second of mad money, jim cramer on twitter, suite him, hashtag mad tweets, mad money@cnbc.com. or give us a call, 1-800 743 cnbc. missed something, had to mad money .cnbc.com.
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let's not kid ourselves, this has been a horrible year for the stocks that rebounded from late summer or early summer lows, but maybe can have, wall street is very worried about the future, we go to the fed mandated slowdown, and the worldwide slowdown, brings me to salesforce, the king of the cloud space, came in much at his expect a, outlook disappointing, trimmed there for your forecast, this is for the second time in a row, i wish they had trimmed it harder the first time, that's why the stock is getting a beating in after-hours trading. and they have slowed with it, the question really is, should you buy it now or wait until things get better.
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things are not as good as i would like, and pretty soon going out to see if the future is as murky as it seems from the releases in the conference call. we are obviously worried about it, business opportunity remains wrong and demand remains equally strong, it may just be an opportunity, checking in, with mark, the cofounder and chairman and co- ceo salesforce.com to get a better read. welcome back to mad money. >> great to be with you, hello from san francisco in salesforce tower.>> so good that you are back, three numbers, forget the stock for second, 5.1 billion, then 61 3 billion, and 7.7 billion, that's the cadence that salesforce has.>> you know our numbers very well, you can see the incredible growth that is
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happened, for salesforce over the last two years, unprecedented, and it's amazing to see it go executive like you said, 5.1 billion, the second quarter two years ago, literally some .7 billion, monster quarter, even the first quarter where we have exceeded revenue in the quarter, proud of our team, incredible. >> what we have to deal with is a guidance issue. you talked about how great it would be to be a tourist, and booked a plane to milan, a fraction of what i paid last year. people don't seem to understand that salesforce is not a company located in san francisco, doesn't do business east of the mississippi, worldwide company, and the dollar is crushing the best companies of which you are. a sense of the guy down so to speak, is a change in currency. >> 7.7 billion in revenue, the
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operating margin, a proximally 20%, that is amazing, strong operating cash flow, 334, it is amazing. and what i think is so exciting also is the amount of revenue that we have now on the balance sheet does not yet booked. 40 1.6 billion. and the revenue guidance, now at 31 billion. composed of two things, one is, incredible compression we've had on these currencies, i was probably the first person to talk about that a new show many days ago, we had a great order but the dollar had a better order, i was in japan and i could see everything was one third off. and we see the euro, for the first time in quite a long time, underneath the dollar. the currency environment but this is a more measured economic environment, everyone is trying to assess what is
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going on, how do they position himself for the new economy, a new day for many companies, when you look at the businesses, they are doing digital transformation, so everyone's number 1 priority, every digital transformation is still beginning and ending with the customer, they are more measured, appropriately, they are not sure, what does all of this mean for them. >> i care more about demand, even if it is measured, that i care about that. amazing thing to see, and possibility that you have customers like l'oreal, the va, user companies that need you, they must've been digitized long time ago but obviously going to get through the period, if you look at the stock during the period now and it gets better, as he gets
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highly unlikely that you will do anything other than by your stock in a very cheap price. >> a great new company to acquire, over 70 quarters of positive revenue growth, great cash flow and market share, $10 billion, it's called salesforce, very excited about that, and the first ever, and customer relationships. and that is administration, now for six years, we've been rebuilding their business, so important to me personally, our veterans have done so much for our country, anything we can do to give them the best customer service in the world is our greatest pleasure, not only do i love the veterans but i love oreos. [ laughter ] and ritz crackers, chips ahoy, a great snack company, doing an amazing job, fantastic ceo, and they're
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using tableau and customer 360, incredible new cio that we worked with at procter & gamble and coca-cola, javier is incredible also, excited about that, thank you for mentioning that, and l'oreal, and the use of this morning, you can go to 200 sites right now all powered by the comers cloud. and it is a b2b story now, helping them go to the market for retailers right now, not just that direct experience which we love. >> terrific, introduce a long time ago, and the ceo. >> yes, i was time is he able to spend, depositions, and elon musk, is he back, and is he able to do that like no other person the world?
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bigger we are on the phone every single day, brad is here with me, we are working side-by- side, chairman of twitter, 42 years old, amazing co-ceo, superhigh energy, all of the world the order, when i was heading to japan, he headed to latin america, doing a great job and could be more proud. >> eiken and with the idea, you got to those countries the dollar was king, that's why they are not as much as people thought that they will be once the daughter -- dollar settles down.>> you can see jim, at the end of the day, the most important thing is customer success. we have talked about this every time on the show since 2009 or 2010. and 2010, and the moments in time, and the economy is moving or we are moving in different
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things are happening, at the end of the day, the reason why we are able to deliver 31 billion in revenue, one of the largest ever, is the commitment to our customers, this is what i am deeply committed to, and it is going to be huge, and the company, bakken scale, 100,000 people, here in sam cisco, september 20th-22nd. >> of course i will be there. are you kidding me, red hot chilly peppers concert that i can go to. >> bonow is going to be here. >> and that's a big moment, going to buy stock, hope that you give us a chance and don't go in with the buyback, and that is mark, chairing co-ceo and cofounder of salesforce, we've been waiting for this to happen, thank you and i will see you at dream force.>> thank
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football season comes back, bills take on the champion la rams on nbc of course, over the next few weeks people will be conducting fantasy drafts, as regular viewers know i love fantasy football, we've even got are only here at mad money, not the average league, i think fans use a great analog for building your own portfolio, we
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run a fantasy stock football series, comparing the best fantasy draft picks to some of our favorite socks, a fantastic way to put the games in context and to learn, learn. which is what the shows about. over the next two weeks we are running the annual fantasy stock draft, study with qui■ec's running backs and wide receivers, and filling of the rest of the positions tomorrow, will start as everyone does, at the back position. in terms of the stock market, little bit more important than the actual fantasy league. blue chip stocks, dependable names, you want to hold and not trade, the first drama comes to stocks, third or fourth in the actual fantasy. >> to the only has one starting spot, you want consistency above all else, and if it is consistency are looking for come on, hard to go anywhere
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else, other than to choose tom brady, already injured by the standards. and the signal caller was the third best fantasy last year, incredible.>> as i see it, there might be high risk and high reward options but it is hard to envision a scenario, you don't get enough top 10 performance. and own it and don't traded. and people say that, the best days are behind them, too much exposure to china, and consistently been buying opportunities, every single one of them, just like how every call for tom brady, in a down year has turned out to be wrong. i sure wish that apple would buy the nfl ticket for apple plus with their upcoming meeting, with a killer combo that would be. if you want a fresher
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option, in his third year as quarterback for cincinnati, i might take them as high as the second round available, the numbers didn't blow you away, eighth best fantasy quarterback last season, but coming up often acl injury, at worst a solid player and that best a truly accident receiver they go to. the stock market equivalent, joe burrow, let's go procter & gamble, the best play that we have for the trust, and the role cost inflation, and the previous price increases continue to state, earnings fabulous, exactly the business cycle where you need something slow and steady. on friday, if you think you will be naked but not with proctor, one last when i have to mention because i'm a homer,
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jalen hurts, by beloved eagles, an old friend thinks he can turn in a top-five performance the season. the best thing is the option audi, he can throw the ball, and a big runner, the best comparison is johnson & johnson, limited downside, and a bit upside, things to the pending breakup. remember getting into the regular generics and the rest, growing fast, that is exactly what happens when jalen hurts does when he runs versus passes. running backs, arguably the most important spot in the roster for fantasy football, what you want to hear is steady production. strong numbers weekend and week out, how can you deliver the yardage? first up, we all know, jonathan taylor from indianapolis. the number 1 russia last year,
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one thing you need is availability, given the wear and-tear in these guys, hard to find a player that can make it through every game is. taylor minutes are all 17 games, one of two players in the league to average more than 100 rushing yards per game. you know what he is, frank wright, and the colts, they go far this year. indianapolis, and lily. and the travel, and for the group had diabetes and the drugs is well as the potential alzheimer's treatment that people don't talk about. and it is a drug company, and jackson hole, you see them play more than what costs kind of an odd pig, and others, in that, d'andre swift, university of georgia, entering his third season with detroit, a lot of buzz, he only played 13 games
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in each of the first two seasons, it doesn't help that the lines are terrible, the talent is there, this could be a breakout season for swift, and it reminds me of another detroit operator. ford motor corporation, finally getting there. and the production. and the last few months, and if they can just make them all. and the season, and more potential, the layoff, and the people, and trying to put more money into the bottom line. this is the right environment for the job. cmc, and verbal, and unquestioned top player in fantasy football, what i was winning. and and he can catch and unmatched in the open field and
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tough, and he can recover this year, with that kind of reminds me of, honeywell. and charlotte, cmc plays, when healthy, one of the favorite industrials, but the aerospace business, and think they can make a comeback, itching to buy more at 190, and more circumspect. and finally how about wide receivers, the most dynamic position. no matter what in the first round. the big plays even if they are less can. wide receivers are what we call high risk high reward. high ceiling, and cause me the pain of the downside. and cooper kupp, hands-down the best in the league. and the best in the league, and
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the networks, pn w, and nfl, and passing first. strong receivers have become essential in the same way, cyber security, corporate america. and and i don't know if you cut the interview, another great set of numbers. and the passing game, and the single best stock. and the blowing numbers, and reporting tonight, salesforce, they don't have the demand that palo alto has, neither does nvidia. cd lamb, even though he plays for dallas, and any good, and the track record, expecting even better performance, i will draft him in the first round,
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increased, and steadily growing capacity, a bunch of subsidies. and just signed, and adams, packers to the raiders. and he is working with that, and through the quarterback, i think you can have a season, it feels like amazon. business has gotten a little worse this year thanks to the e- commerce low down, it remains a tremendous topic. and this is not a recommendation but tyreek hill feels a lot like the bit coin of nfl. in the performance, insanely volatile. moving to miami. like so many crypto companies, one week he's incredible and another wiki is awful. he looks amazing today by the way, a joint practice he had with the eagles. bottom-line, think about what
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the rules you need to fill in your part leo, just like drafting fantasy football, if you spend more time with your fantasy football team than you do in your stock portfolio, would you please just go and buy an index fund. evan and virginia.>> jim, longtime listener, first-time caller. bigger stock ticker s, a lot of insider sales, not a lot of insider holdings, what you think for long-term investment? >> and i like trevor weingarten, but i will recommend this document tell you why, only one cyber security stock that is worth owning, that is palo alto, that will be like that for very long time, building an amazing company. football season is indeed back my friends. and your fantasy football roster, i think it would be a much better investor.
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and the data powerhouse, can it continue with his mission towards growth. the quarter with the company's ceo, sharing one key conference call from yesterday, and the lightning round, to stay, cramer. power e*trade's easy-to-use tools like dynamic charting and risk-reward analysis help make trading feel effortless and its customizable scans with social sentiment help you find and unlock opportunities in the market with powerful, easy-to-use tools power e*trade makes complex trading easier react to fast-moving markets with dynamic charting and a futures ladder that lets you place, flatten, or reverse orders so you won't miss an opportunity (woman vo) sailing a great river
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and putting the dollars to shame in the quarter, top and bottom line, management, land and a pleasant surprise. and much larger, let's dig deeper with frank, and congratulations and welcome back to mad money. >> thank you gym. good to be on the program. some of these say he can't really do well in a recession, better to our customers up. and i look at it differently, people who are not sure and measured about the future, can pick you can't get the job done, and get back to their will work, that's what the customer wants right now.>> yes, the model works better in a down market where people are having headwinds and trepidation and not knowing which way the world's going to go, you like being able to
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throttle back and throttle up, when you have the confidence, and the subscription model and you don't have that luxury. >> was amazing, really developed a couple of verticals, i didn't think you would be this far along, can packaged goods, i didn't think you'd be this far along in financial black rock you have, i think larry can't know and like him, probably the most sophisticated mind when it comes to finance the entire world, and whatever he's doing with you, i want to do with you. left>> and aladdin, and standard for asset management, but is most of your viewers will know. on snowflake, that is well underway, aladdin is a platform that has been used by hundreds of other institutions. and the network effect of those
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kind of relationships, and financial services. and flowing every night between institutions. and regulatory requirements and so on. and on snowflake, we can stop doing that, the data stays put and the work just finds the data. works out really well, the strong network effect in financial services. >> i think i'm a company, i don't have my engineers any discrete product, like raytheon, they don't have enough engineers but coming into their own, and just giving you the discrete project, i can hire, aren't you the answer to many companies that have endless problems and telling me i wish i could do better but i just can't hire.>> one of the things, i think is incredibly important, we have really lowered the skill level that is necessary to harness this kind
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of power in analytics, you need the hard-core programmer get up to speed and be productive on snowflake, you see that, 70 largest enterprises in the world, and also a man and a dog and a handful of files, so the skill levels much lower than historically what it has been, whites opening up markets words.>> good company. i am sure they had to find out what works and what doesn't, they don't have the capability these days, too complex. and not too complex, for snowflake?>> interesting thing, data starts to redefine the whole industry, in case of pharma, approximately 12 years to take the drug to market. take a year off of that, with technology, and incremental
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year, and hugely impactful. life-saving drugs. everybody wins, these are really important things. >> i didn't think that you can get the nine gap in the quarter, i was of the position that i don't care how much frank spends, if he thinks he should spend and spend than he should, he's got the capital, did you need to do this, or move the goal post, i have to play some of the game, you got a great business model, go for a long time before you had to show profitability.>> you know, we are not fixated on that, we invest as fast and as long as we can do it, smartly and productively, and thoughtfully, so we are not thinking profit first, growth is incredibly important, strategically you separate from the competition that way and the network effect get stronger, but not a growth
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at all costs company, we never have been, it's not our culture. and dublin trickle-down.>> owusu, quibec, in smokers might have that, and three year contract that i wish you get out of. and knows the repeat business?>> how is it. >> we are mostly a repeat business, the whole nature behind the model. and 171%, net revenue retention rates, the average customer is growing that much on an annual basis, that is how it works. is not finite because customers are discovering new workloads and opportunities in new things to do, on snowflake as they get further into it, nobody knows where it's going to end. >> with the higher stock, frank is the man i always thought he
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was, read the book and you understand what he's doing, frank, chairman and ceo of snowflake, what a quarter, thank you so much for coming back to mad money. >> you bed, thank you jim. >> i knew would happen, it just happened.>> cramer takes the calls. the sky is the limit. fast fire lightning round next. (vo) you can be well-dressed. you can be well-mannered. (man) oh, no, no, after you. wahoooo! (vo) you can be well-groomed. or even well-spoken. (man) ooooooo. (vo) but there's just something about being well-adventured. (vo) adventure has a new look. discover more in the all-new subaru forester wilderness. love. it's what makes subaru, subaru.
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and the lightning round is over, are you ready, and paul.>> hey cramer, and minnesota, >> and and the investing club,>> and going for.>> losing money, $10 stock. can make that the only reason why i recommend the stock. and in texas stat.>> decent growth, what you think i used to like it.>> if you had to get rid of the guns, and all the
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other stuff, i think the stock would be hard, that's the road we will be in, it is the road we are in. let's keep going, and in arizona, and.>> thanks for taking the call. what's going on and.>> one to find out about that, think about the eagles, and the shipping.>> and not worth it, don't like the risk, the conclusion. the conclusion of the lightning round. >> sponsored by td ameritrade. coming up. where have all the workers done. cramer explains why the empty cubicles should not trouble you, next. thinkorswim® by td ameritrade is more than a trading platform. it's an entire trading experience.
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accounting company, i am building a different explanation for some of the workers scarcity, self employment and revenue was up an astounding 41%, which tells me a surprising number of people left other companies and started their own businesses. i say why the heck not? because of outfits like intuit, a payroll processor and outsourcing human resource firm, it's never been easier to start your own business, the barriers to it and the acceleration that the web can give you can't make it too tempting not to try, for soapy management -- for some of the people who don't want to go back to the old grind, who can blame them, you have money because he didn't spend much money during the long lockdown and got a handout from the government, you can cobble together a couple of months rent or turn your house with a office, with computer, and furniture and get rolling.
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you can say the surge in small business growth that intuit is generous, they take a chip from everyone else in the industry but almost nobody really who competes against them when it comes to this suite of tools, small business owners. and getting and running parts of the operation. and without them, and the army of people to start a small business, and you have no money left, no more, that is what intuit solves, and needing the front porch somewhere, and in the e-commerce platform that rivals any major company, as easy as pie. smart people on the internet, driving down in business, something we note from paychecks and intuit. phs. growing and extraordinary pays. not a big coincidence, seeing tremendous strength in small
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business numbers, as they are struggling to find workers. i think a lot of people are sick of working for the man, they have great healthcare visits, and if interest keep going up dramatically, and they do fail, and many of the recent ones in stocks, running out of money, and way to marginal companies, and way too easily the public markets, the first mover in the market. and in the adjacent areas. and in the dream, cove inspired, fantastic as long as you're healthy and the fed kept rates low, with cheap access to financing, it has become a nightmare now the money is gone, they will keep marginal
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workers doing the jobs that remain empty. on the end, a few years down, we will see that. and a moment for employment, and in the lee stoll, and the other 43 million americans are back to oh a lot less money. what about everyone else? i am shepard smith, this is the news on cnbc. storming the president announces his decision on relief. >> will forgive $10,000 in outstanding federal loans. >> who benefits? who gets more? the critics who insist they will make inflation worse. >>fu
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