efficient energy name out there. i like that. >> brian kelly? >> i think you want to buy things people need. >> julie? >> yeah, i agree. i'm looking at -- that will probably make our earnings better. >> karen? >> on top my mission is simple to make you money. i'm here to level the playing field for all investors. there's always a bull market somewhere and i promise to help you find it. "mad money" starts now hey, i'm cramer. welcome to a special seattle edition of "mad money" from starbucker headquarters. my job is to the just to

entertain but put days like today in context call me at 800-743-cnbc or tweet me @jimcramer. it is a false construct created by the media and timid money managers stuffed into a cale dks cauldron of negativity the nasdaq nosediving 5.16%. the biggest decline since 2020 as people fled the stock market for greater bonds or frankly plain old cash look, i cannot blame anyone for panicking after we got one more red hot consumer price index number showing non-commodity inflation has yet to peak. look, i know it's a horrendous day no matter how you slice it and i don't like the action any

more than you do i'm not sure how bad it was. but as much as i appreciate a two-ye t two-year treasuriry note is risk free becoming a powerful competitor stock i still think it's a mistake to abandon stocks entirely. y if you have spare cash, park it in treasuries however if you dump all your stock here you're acting out of fear and panic driven decisions rarely good ones when i say today was the setup for the bears, a rigged fight some of that is because there was a last minute surge of belief by the big running stocks leading up to the number that this morning's cpi reading would be lower than expected i get that we've seen rents starting to come down. car companies are finally getting enough chips to go all out with production and chicken

prices are dropping. we know oil and gas is -- they've been consistent decliners. companies that raised prices are losing market share to others that don't witness mccormick the space company. there is one problem every one of these changes didn't occur fast enough hence why the fed indicated it will hit us with a rate hike next week and possibly another one at the november meeting if we don't get more encouraging inflation data no wonder short term treasury yields soared. if that doomsday scenario of two more triple rate hike comes true who needs a two-year at 3.75% when fed rates will get you 4% we heard chatter and i got to tell ya, i get it and i think it's ugly but i get et it we mi

get a full percentage point hike unheard of but i understand people are talking about it. at the risk of painting an alternative picture, imagine a number lower than expected than higher this reading was a little worse than the consensus if better than expected, the same people moaning today and growning about inflation we would tell you a different story but it would be just as negative might go something like this, today we had the first signs of a recession in the making, a crashed airplane if you will because the fed is determined to take rates up another 75 basis points next week just when inflation is beginning to cure itself that's right the most important components have begun to go lower, cars, food, rents, even after gasoline but the tone deaf fed now is going to crush us sending us right through the windshield anyway then they make a big production about how powell doesn't realize

he's winning and he's determined to cause a severe recession for no reason whatsoever i am guaranteeing you that would have been the story today if today's cpi number was cooler. let me ask you, why the heck would anybody give this guy a break? why won't anyone give jay powell the benefit of the doubt he will get it right no severe recession, no endem m -- endimic inflation. he's been talking about rates 75, not 50 he went to 75. he's done a much better job than the central banker in the rest of the world and took rates from zero to save us from a covid recession that many other countries had to go through. once we got effective vaccines, he realized business would snap back and started raising rates like the communist party that refuses to use the good vaccines to keep locking down chunks of the economy regardless of what it does to actual, let's say,

prospects for the way china is going to turn out. as for inflation, and the supply chain crisis, these aren't u.s. problems, they're worldwide problems i could invite you to show me a country in better shape than the u.s. now you can't do it. we should sell stocks. paul is admitting that was his whole wrap sure, but he's not behind the curve like everybody else, especially the european central bank and ratcheting up rates as fast as he can he doesn't need to go 100 basis points because so many companies have taken action to tamp down inflation. it would terrify people. it makes you think we're in germany, that situation where the price of bread doubles every day between breakfast and lunch. how comes so many money managers are committed to being negative. my email is flooded with people that think this guy is a total idiot.

i think it's because they're fighting the last war, the war of 2007 when the yield traded as high as it did today not long before yes, the great recession. like then, like now, pretty simple this is not 2007 or 2008 back then we had a dangerously over levered system. the consumer was over leveraged and still flipping houses left and right with no documendocume. the financial world was writing bogus mortgages. you couldn't untangle the stuff. the whole thing was a house of cards. that was the age of mass bankrupt ci bankruptcies, mass foreclosures. does that seem like now? we heard bank defaults are shrinking now. again, we have that false thing because when the facts change, the bears, well they just change the darn narrative. >> hallelujah! >> or like -- we're headed for a

recession or the economy is so heated it will cause a dire recession to cool things down. they can't imagine a middle ground like you and i would think of where we do thread the needle so why bother to stay the course after today you have to say what the heck is cramer talking about? well, i'll give you a couple big reasons. first, when it comes to the fight against inflation, we have already won some major battles oil has come down huge from the highs, okay, maybe because russia is flooding the world with crude in order to pay for the war. they're selling through india and china at lower prices but the longer the war lasts, the lower oil goes it has to do with natural has for europe and ukrainians made major breakthroughs and if they can win, they can, it looks more and more like that the price of natural gas is going to fall because there is no reason for russia to choke off the supply to western europe if there is a truce. in fact, by the way, natural gas prices have come down hard in the last few days.

third, it's important to recognize that the so-called embedded inflation that everybody has you so scared about, only lasts into the labor market loosens up and see the end of mass job hopping. we're heading in that direction as we see more layoffs you can't job hop when it's harder to find work. we're seeing it in tech and finance and other areas will follow fourth, there is a failure of imagination among the bear embedded inflation can only think of one solution. taking the federal funds rates to heights not seen since the early '80s when there was a horrific recession to tame inflation by taking rates to high teens powell made it clear he'll stop embedded inflation the idea of rates in the teens strikes me totally out of touch of reality finally, we're not looking at a collapse scenario like starbucks where i am now just gave us a

staggeringly positive outlook this very afternoon. >> buy, buy, buy buy, buy, buy! >> i'm not saying you need to buy something yet. we only bought one stock for the travel trust today, one, despite this giant decline and warned people we don't want to be aggressive having a thursday club meeting at noon a bounce may not be in the offering we just had a huge run we'll assess the damage in a deeper dive then but the bottom line, we sure weren't selling. we didn't join the thrown. you know why the t hhrung will be wrong. let's go to kimberly in iowa. >> reporter: boo-yah jim from rural iowa welcome back from vacation. >> thank you it was a nice one. i was with my wife we had a good time good time. what's going on? >> caller: the world needs clean energy and i'm wondering if we have a company that is poised to

provide hiydrogen and nuclear, i'm wondering about honeywell. >> okay. i think honeywell we bought some today. funny you mentioned that one stock we did buy, we bought a little of that for the travel trust. why? precisely what you said and because also we think with travel, aerospace will follow. we think the throng will be wrong. on "mad money" tonight we're coming at you from the starbucks investor day and going one on one with howard schultz and his team over here to learn more about the company and his teen year at the helm of coffee. from consumer spending to flood inflation, costco has his finger on the host of met trics and learning more. it's a positive story. tough day for the market, i'm offering a moore optimistic point in helping you find opportunity amid the sea of red. from starbucks headquarters,

stay with cramer don't miss a second of "mad money. follow @jimcramer on twitter have a question? tweet cramer #madtweets. send jim an email to madmoney@cnbc.com or give us a call at 1-800-743-cnbc miss something head to "mad momadmoney.cnbc.co.

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by talking to our helpful switch squad at your local xfinity store today. where do you hide when the market is melting down over yet another over heated inflation number circle the wagon to help mitigate the damage of rising prices and nobody does that better than costco which is why

the stock is holding up so much better than the average this year good thing i'm here in seattle right by the headquarters. today we got a chance to talk with craig, the ceo of costco. take a look. >> first, it is an honor to see you. every time i do, it reminds me of the tradition of costco, which is just plain old fashioned value and quality. nothing has changed. >> well, first of all, thanks for having me, jim, appreciate that i don't know about being an honor but i'm glad to be here, thank you. >> i have seen as you have that we had a price increase in food once again consumer price index. the american people are eager in the price of food. i say go to costco you won't see that but somehow your prices are different for food than pretty much every other establishment i go to. how is that?

>> we're very careful on pricing. we have a membership model and, you know, we have a responsibility to be the price police we're always trying to figure out how we can lower prices, not raise prices, we're not a margin company. we're a volume company and these are the times you look to build market share of course there is inflation we're like everybody else we can't absorb it all but try to work with suppliers to continue to lower prices and i think you're going to see probably this for the period of time maybe another six months to a year but things will start to come down if you start to see fuel prices are coming down which is a big part of distribution costs distribution is starting to level out and come down. i think you'll see anything in non-food coming from china that is not going to go away and container costs are starting to come down.

i see this hopefully turning around in six months to a year. >> that's -- >> keep in mind, i'm not an economists i sale mayo. >> you have better data. one of the reasons why a lot of people can tell me everything has to go up is because of the resig resignation. i know costco is a place of great love are you seeing tremendous resignation by your people to go anyplace, job hop to make more money? >> e with have not seen a lot of that, no we have seen it in the tech field. now, that is starting to slow down dramatically because you see a lot of tech companies talking about layoffs and things like that but we're not a tech company, we're not a glamorous place to be for technology like amazon or microsoft so we have seen some of that. our overall business not really. we saw during the pandemic, we probably our turnover runs 6, 7% a year

it started creeping up to 11% but that's started to level out also. >> oh, good. okay i hate to see -- i always want to see the same people when i go to my costco and i tend to people are proud to have work for them. >> normally it's the new employees, that's where we have turnover. >> speaking of new people who follow your company, i have always been a big believer in kirkland, the brand. but my daughter vently lyrecend me a tiktok presentation it can be kirkland. this is a change i knowyou didn't pay these people but younger people discovering kirk land brand is better than name brand. >> we've been doing kirkland brand since 1990 it's a brand we started with trash bags and it kind of took a life of its own. and it's a quality merchandise at the best possible price we don't have a lot of overhead that we have to pay in that

pricing and we test every item i try every item it's got to be quality or we won't sell it. >> are more people going down to kirkland even though you and i know that's not a trade down. >> i want to clarify, it is noz a trade down it has a lower price at a greater value. we see the penetration continue to grow every year. >> so you took matters in your own hand you thought chicken was too high you don't pay the price everybody else does. your chicken factory is monstrous. >> it's a big factory. we produce a lot of our chickens out of there we're very fortunate that we have it at the moment. particularly with the problem of availability of poultry but we are integrated in a lot of things, we do our own lenses with optical and produce our own hot dogs a reason we continue to

keep the hot dog at 1$1.50 is because we manufacturer our own hot dogs and have our own ground beef plant it's a way to keep prices down. >> why did younger people tell me you changed the price of the hot dog? they just don't know that's just wrong. >> it is wrong that's -- you can't change -- >> that's primary. >> you can't change the price of the hot dog. >> other people said you haven't brought back the samples. >> the samples are back. the hot dog hasn't changed price. i don't know what to tell you. >> one area that you yourself have been critical of you felt you weren't doing enough commerce has that changed >> our e commerce business as you know, it's been two years, we brought a logistics company from sears and robuck we're very big in big and bulky. our white goods business and big screen television sets, patio furniture, things like that.

we're growing our business rapidly in that business where we're slowing down a little bit is in the small pact, right and i think you see everybody overall right at the moment, it's not fashionable to shop e commerce, everybody is coming into -- back to the stores and if you're really looking at e commerce, there's a lot of people to tell you that, you know, purchase if they've called it digital purchasing now, buy at the store or order online, pick up at the store well, the reasons that you do that because it's less expensive than having to ship it so there's a lot of factors there. >> balance sheet good. another large company that competes against you just raised membership prices. is that a good opportunity for you to take share or use them to follow price >> we'll -- you know, we've -- all i hear is when are you going to raise the fee when are you going to raise the fee? we'll raise the fee when we raise the fee.

right now isn't the time to raise the fee. >> how about that armada of ships you had from the east to the west have you been able to get rid of that now that pricing has coal down dramatically in containers? >> we're working on that we have our fleet. as time goes we're starting to work out of the fleet. >> okay. i find that something that people don't realize is that you don't necessarily intend to make money on everything. someone was saying jim, they must be losing money on the unbelievably good wine and i came back and said look, they're trying to do volume. don't you understand that's different? >> we don't sell by merchandise at low cost. we will buy -- when you buy in volume, you can get some substantially good pricing and what we do is we don't put that in margin, we're not a margin company. we're a value company. we buy in bulk and sell it at very high prices that's what we do. >> if that's what you do, those

people constantly fretting about inflation have to hope that a costco comes near them you can put so many more -- one of my costcos has a long line. it's not easy to put up a costco and not everybody wants a costco in the area, the politicians i don't know a single consumer that doesn't want a costco in the area, true >> i would say true but i might be a little pessimistic. >> i hope there is one everywhere including china that's a tough market. >> china is a tough market we've got another four under construction, we have two open in china and it is a tough market but we think there is an opportunity there. >> well, incredible. i think if you think there is an opportunity, i understand there is an opportunity, ceo of costco to me the great bargain value place quality place in america thank you so much. >> thank you, jim. thanks for having me

coming up, should the market expect a venti sized reinvention from starbucks the coffee giant takes center stage with the investor day and cramer has the roast with the most, next

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the stock of starbucks, why because today seattle's most iconic company held a big investor event where they led ambitious plans to revamp the chain and introducing the new ceo who is coming from the challenge european consumer packaged goods power house perhaps more importantly, they announced new financial targets well above what anyone on the street was expecting including high single digit comps, low double digit revenue growth and

high earnings per share growth that's why the stock that is a holding of my travel trust to be talked about at length on thursday's club meeting did much better than the major averages today. if there was a better take, tonight we're thrilled to be joined by howard schultz of starbucks. mr. schultz, welcome back to "mad money.. >> howard. >> howard, welcome back to "mad money" and thank you for you and all the gracious people because it's always more than just you when we come out here for allowing us to see when i can only call the future. >> thank you, jim. >> it's right here. >> yeah. great to have you in sunny seattle. >> let's talk numbers. jim, it's not as good as it used to be. i'm getting numbers telling me

it's opposite. >> let's talk about the facts. you said in the presentation today this is a newer era of growth two weeks ago, think about this, two weeks ago we introduced the fall campaign in the u.s. at a time people are so worried about inflation and consumer confidence we had the best single week in the history of starbucks, 51 years other than holiday two weeks ago. we have double digit comps now, the guidance that we talked about today for the future for the next year or so, double digit revenue, double digit eps accelerated growth in our store base and strengthening in the comps. in addition to that, we're going to open up one store a day, no, i'm sorry, one store every nine hours in china we have 6,000 stores in china. by 2025 china will be bigger than the u.s. so if starbucks is ready for this moment in time, at a time in america where people are doubting the consumer, we are not doubting china, we are not inflation will come down, china will come back the equity of the brand has never been stronger. that's the facts. >> is it time really to turnover

to a new leader? you sound as enthused as the day i met you. >> well, i said today is, you know, you don't hear the word love much in business. i love this company. deep responsibility to our people and that's why i'm so convinced and so proud that laxman is the next ceo we had a global search he has heart, conscious, sensibility. a global citizen and most importantly, steeped in humility. >> yes, well-known steeped in humility even though he had a three-year turn around of a company a lot of people thought was broke. >> look what he did. >> yeah. >> i had the great privilege of going through what i call the store of the future and the store of the future answers a lot of the objections for everyone from the bears about inflation to the possibility of maybe having to go to one of these competitors because you know what, it's too hard, the line is too long you're answering every objection that people have about

starbucks. >> well, let's take a step back though and examine the fact that during covid and post covid, the expectation and the concern for any worker at any retail or fast food or restaurant is much greater than it has been in the past and starbucks did not meet the challenge in the past. we have to admit that. and so we have much work to do to exceed the expectations of our people now, what you saw today was we are completely overhauling the cold beverage station which represents 70% of our revenue and we're doing it in a way that gives our people more opportunity for craft of coffee, more opportunity to engage with the customer and what we talked about today is at the core of starbucks 51-year success is a emotional connection and it's not just based on the physical aspect of the third place. the third place is a feeling we can enhance the feeling in a drive-through. we can enhance the feeling on mobile order and pay we're elevating the experience

through automation and design. i am so enthused about the future of the company. recognizing we don't have all the answers today but the future of starbucks we said it over and over today has never been brighter our best days are ahead of us. >> i agree one of the reasons i agree is one of the things we know is if you can personalize at scale, which by the way no one can, then that's the wholly grail i can get my coffee -- even in milan, i thought that was the exp expresso capital of the world. >> by the push of a button you can get what you want. we don't just want to do it fast but in a way to literally exceed the expectation. starbucks has never been in the transaction business let me explain that. what has happened is the

business moved 50% drive-through, 50% mobile order pay. if you said five years ago the business would change that much and starbucks won't be relevant, the truth is we have more business today than before and so the relevance of the equity of the brand is greater today because we are adapting. we're being more flexionblble a meeting the customer where they are. >> did you ever think cold brew would come on like this? >> if someone told me many years ago 70% of the business would be cold our core business today more than any other cohort is genz and we're more relevant with genz than any brand. they're driving cold we've adapted to cold. ad adapted to drive-through and mobile pay and we're in a position to win where the customer wants us. >> the story i saw can make it fast i don't want to go to the other guy because it's fast personalization, which again inconceivable.

i've never seen it done. i've never seen fast personalization at scale. >> i think you're right. 100 million people are coming to starbucks every week and coming for starbucks today in a more -- in a way they want faster service just like you said we do not want to embrace transactions we want to embrace experience convenience. we will be more convenient but want to create the experience that you've known starbucks to be. >> we'll be talking more about you and the future but i wanted to say as someone that's been taught by my kids that waste is the enemy. i saw how much waste and you cut back glorious. >> well, you know, when we came back in early april and we looked at all of the issues facing starbucks and there were a lot. one of the areas that surprised me is how much waste there was in the system and so these new system you saw, the new coffee makers we saw that reduces waste significantly, it makes the beverage higher quality and faster like you said it a triple win for the company,

the customer ex pand planet. >> let's hope others follow and listen more after the break. coming up, "mad money" through seattle continues with more from starbucks, next.

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look, the main reason we came to seattle this week is because of today's big starbucks investor day event and the coffee titan didn't let us down. if the market hadn't rolled over today darn it, i think today's announcement would have sent the stock into over drive. so many angles to the story. we wanted instream ceo howard

schultz to start it all. let's get back to it the future i agree is brighter than the past. one of the things i want to talk about in the past is when you started this company, we had ideas. we heard business is the greatest but wasn't that the heart? >> we got 11 stores and 10 employees and even then the mission of the company was to create this fragile balance between profitability and responsibility of shareholders and the balance between our conscious and sharing success with our people. if you look at the things we did all those years, equity, free college tuition, so every single time that we try to advance and grow the company is balanced through the lens of humanity and trying to do the right thing the company has scaled, i mean, 35,000 stores around the world the challenge has always been how do you get big and stay

small? how do you maintain intimacy with the customer? we do that by recognizing, i don't want to talk about the scale of starbucks but one customer, one cup of coffee at a time and one great store and so reducing it to the lowest common denominator and we came back in april, we came back to the core of the issues. what is the core purpose and reason for being to exceed the expectations of the people so they can exceed the expectations of our customer it's that simple. >> it's so tough to live on wall street and listen to you because people felt oh, boy, he let shareholders down and stopped buying bad stock but in reality what you decided to do is invest in the business in a tangible way and from what i can see, it's paying off. >> that was an interesting day for me our first day back looked at the balance sheet and the investment we need to make to our people which is north of $1 billion, starbucks was buying $6 billion worth of stock back in the last two years. it's buying back stock is not the wrong thing to do but if

you're at a balance and you're not investing in your people, it is the wrong thing to do so the shareholders i think had a short term mentality about that but look at the growth of starbucks. if we invest in the people, shareholder value is going to come back and over the life of starbucks, look what we've been able to do and we'll promise to see them again. >> twice i've seen you have to come back. i know that you and i are both getting up there okay how do we know this is over? this is it a member of the board. it will be fantastic i know ihim from what he's done from a company not doing well. is this really it? are you going to do something new? >> i've said publicly two things we've found the absolute right person starbucks has its wind at its back we have a great new leadership

team i'm not coming back a fourth time i'll stay on the board and work with him and my personal promise and commitment to melody hops and our chair is i'll do everything i can humanly possible to ensure his success and he's the right guy spend five minutes with him, you know this is a man steeped in humility, understands a culture of that company and a global citizen and a great operator and what surprised me the most about him, he's a significant entrepreneur he got so creative this guy will be great for starbucks. >> now, can he restore and some people think, i have to tell you two of my starbucks, i don't feel as third place-ish anymore. i feel like i'm someone holding down a table can you bring that back? >> i said publicly a couple things the starbucks of today was not designed for the societals issues we have i've been talking to mayors across the country about safety issues, about homeless problems,

the government has to do its share but the third place is not only a physical place in the four walls of starbucks. it an emotional feeling and we're seeing that play out in other aspects of our business. we'll embrace the third place in many different forms i'm not worried about that at all. the thing is, the business has changed so dramatically but we're winning. we're winning. >> all right now, from the very beginning you know this when i came on, actually, for many years i talked about this. you're the ambassador of our capitalism i think that that can continue but i don't know whether the message has been lost. >> okay, well -- >> can you get out there again and show people who america really is like this is america. this is what we do we create dignity. we believe in dignity. we create fair wages i have a feeling people don't understand your form of capitalism is a winning form for workers, not just for

shareholders. >> i'm glad you said that. i said over the last couple years there is a crisis of capitalism in america. >> there is. >> where people are being left behind capitalism for the future has to be one of generosity and shared success. a company cannot win on the backs of its people. shareholders win when this opportunity for people, we're employing 400,000 people from around the world we want great pathways for opportunity and economic development and we want to demonstrate starbucks can be the kind of company people can look to not that we'll be preaching but a model for the right kind of capitalism in which everybody can win. >> okay. >> yeah? >> we share a common idealism that's steeped from '60s, '70s, a period i know was an organizer. failed couldn't help bring down the company. how do you fight the idealism of people that believe in the union and think that's the best way to

be able to increase benefits and do better? >> well, clearly i think there is a cultural and political change going on in america we don't want to fight the union. we have a different vision for the relationship with our people we don't think there should be a third party. our people have a right to organize and we have a right to provide them with a different vision and been doing it well for 51 years we didn't have a union telling us to provide equity and free college tuition. so we -- let's just see how this plays out but we have a different vision. >> one last question one time you contemplated running for president. you had a lot of great ideas politics versus business how different are they >> well, i learned a lot i didn't succeed it was a very humbling experience for me and my family. i don't think that's in my future going forward but i want to do everything i can from the point of our family foundation to make life easier for a lot of

people -- >> people have to recognize it's real. >> yeah. >> it seemed like it's real for what you've done with this these are real substantive, real. >> thank you very much i mean, politics is a different game i wasn't suited for it i want to do everything i can to elevate the american dream and economic development for all. >> thank you founder and interim ceo of starbucks i'm going to miss you. >> don't worry. >> promise we'll have an expresso in milan cold brew. thank you very much. >> thanks, jim. >> we'll be back after this. >> thanks for being here finding the perfect developer isn't easy. but, at upwork, we found her. she's in prague, between the perfect cup of coffee and her museum of personal computers. and you can find her, and millions of other talented pros, right now on upwork.com

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it is time, it is time for the last seattle edition of the lightning round "mad money." i take your calls, buy, buy, buy, and then the lightning round is over. are you ready, ski daddy angel in nevada, angel >> caller: hi, dr. cramer. thank you for taking the call. appreciate it. had a quick question i am pretty deep in sofi what is going on with sofi >> people feel because of the discontinuing student loans is bad for them people don't like the banks. it's a world of hurt $5 let's roll with it. todd g. in hawaii, todd g. >> caller: boo-yah i've been a viewer since 2005 when i first saw you pound the table. today i want to know your advice

on matx. >> i think that company will come under pressure. there is a sense maybe they're making too much money and for records, sears holdings went up six times before i told people to sell it six times. i'll take that gain any day of the week let's go to marla in tennessee. >> caller: hi, jimmy chill. >> marla. >> caller: greetings. >> the chill is trying hard. it's not a chill day. >> caller: that's okay you have to think positive. >> i like that. >> caller: it can't be all bad. >> no. >> caller: i am a faithful investor you do a great job keep it going now. >> thank you thank you so much. >> caller: you bet. >> what do we got? >> caller: looking at stellantis. >> stick with ford

that, ladies and gentlemen is the conclusion of the lightning round! >> announcer: the lightning round is sponsored by t.d. ameritrade coming up, the kirkland brand? cramer shares a can do attitude next

. this seemingly awful environment where the whole

market can crumble on a single suboptimal number, what in the world could make someone optimistic about the future and when i say someone, i mean me. how could i say something so crazy because i've seen the future and it just doesn't care me do you know why i really make these pilgrims to other parts o the country? you can't take the pulse of the economy if all you do is stair at your screens and listen to reports while you're sitting in new york city and you can't get a good read from backward looking data like the consumer price index. that's like betting on a football game based on how the team did last year do i decide the geno smith seahawks are better than last year's run by rustle wilson because of last night's win? bankrupt just like sports markets are dynamic. they change. today i saw how starbucks plans

to increase through put while making better tasting, personalized coffee for less money while also appeasing the green apron partners behind the bar. the innovation is extraordinary. you know what all this is called it's called productivity to tamp down inflation because it means getting more done with fewer people remember, the big worry here is wage inplace it's a sticky kind and better technology is how companies get that under control throw in the fact that starbucks aims to make the coffee cheaper no compromise, no quality will put pressure on the rest of the in industry it's possible my neighborhood blue bottle won't be able to charge $8 for a cold latte we know it's the federal rez res research's job to get inflation under control. on a huge down day, the fed's job is easier when smart

companies adapt to the current environment by fighting inflation on their own, not just because the government says to do it. and that, not this huge down day is the big story of my trip to seattle. i sat down with the ceo of costco while costco isn't immune to higher prices, they hold the line on prices so you keep paying membership fees many won't do that but costco is a big company. i think they can force the rest of the industry to follow queue otherwise costco will take a ton of market share. we went to amazon web service. they have a double mantra, cut cost while giving the customer a better price they have the most powerful force for 20 years everybody wants to travel but in this environment, they want to travel cheap which is why seattle is essential their algorithms find you the lowest prices and now that we're worried about a recession, too, i'm betting the travel companies

under cut anyone that raises price. we know consumer prices tend to fall more slowly than they rise. you know that. but it does happen we're seeing demand destruction and people playing down to cheaper alternatives there is a desperate thirst for private level knockoffs which is why a tiktok video can be passed around to maillions of people. on a horrendous day for the bulls, i know i'll be dismissed as a dcockeyed optimist, those chastising me were right today when you go to the companies that can determine pricing going forward, they're not looking for reasons to increase price, they're looking for places to cut price while improving quality. the only problem, you have to go out and see them to find out i've been on the front line with the real inflation fighters, not

the federal reserve but the great business people who use ingenuity and technology to tamp down cost and order to get an advantage overc competitors inflation. can it be kirkland you bet. there is always a bull market somewhere. i promise to find it for you o so how was your day? this is the news on cnbc free fall on wall street every index, every sector, blood red. >> worst day for stocks in more than two years >> what the consumer price numbers mean for your family and our economy. in full cnbc news team coverage. it will get worse if a strike shuts down the railways. the threat that could cripple movement of food, lumber, coal,

and everything else.