>> and the image in the rearview mirror, it is the atlanta, braves, tim, amgn. >> thank you for watching "fast money," it is someone having everything here on set we'll see yo 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. some people want to make friend, some people want to make money my job is to entertain, teach you what is becoming a big market call me or tweet me @jimcramer,

oops, we did it again. in a new generation of investors has been wiped out by the masters of greed. >> the house of pain. >> bogus merchandise that didn't belong on any stock exchange as someone that lived through the .com collapse, this period is looking like 2000, 2001 where the nastiest bear markets of our lifetime just like the .com era, they are healing over because the pool is poisoned no wonder we had one more not so hot day. that's typical behavior. the dow slipping and s&p declining. the nasdaq edged up.25%. despite the tremendous losses, companies keep coming public that don't belong in our marketplace. there are very few ipos this

year and far fewer spacs, too. but they're still coming i got to say the spac machine is one of the worst gains i've seen if i were head of the scc i would pause them and say you ipo or do nothing. it time for them to speak up for heav heaven's sake. there are spacs that made money and long shots that pay off and track for heaven's sake. as a former handicap, it's much easier to pick winners with the ponies i think they handied cap college and worked the tracks around boston, philadelphia and made far more money than you'll see from most of the spacs that have become public for the last couple years more on that later on. for now, i bring up the .com era because i dream of pointing out the people that lost you that money and contributed to the destruction of your nest egg then never came back to the market

for many people. full disclosure, i turn negative on the .com in march of 2000 and told everyone to sell them i told people to go into bonds and made a bundle betting against them from my hedge fund. i told evening back then i knew which companies were to blame for the collapse but lacked a venue to expose them not this time. let not waste a moment here is what i did i ran a screen of ipos from 2020 and 2021 down 50% or more from the 52-week highs and even i, the most sincere man in north america are blown away by the size of these losses that's why tonight i introduce you to the dirty dozen thrashing the germans. first is upstart here is a financial company that

built itself as the ultimate disruptor. upstart was supposedly able to evaluate your credit worthiness and pitched themself a threat if not alternative to the fico score system they were keeping loans on the balance sheet rather than selling them they're sitting on a mountain of loans and federal reserve not cooperating. this one is on a highway to the danger zone. because it went from having no risk to having a massive amount of risk including losses in a couple quarters. the latest included a horrific terrifying negative preannouncement. >> the house of pain. >> it's down 94% from the high second, good rx. this was supposed to be the company that saved fortunes of pharmaceuticals. for a time it was the only player in the game and started off in the same discount and

these guys had a major disruption to its relationship with kroger giant supermarket chain. i used good rx i liked it but so what? the pharma price cutter was a portfolio price cutter down 89% from the peak. good rx like a lot of others had a good brand name. shouldn't have been a stock. number three is a firm holding this is the original buy now, play later this was going to be the great democracizer everyone wanted in on this opportunity and rising interest rates crushed the group. of course, the firm will tell you it's doing great let's give them that matter of fact, let's give them a nldstanding o the stock is off 89% from the highs. the stock could be wrong maybe it should be up more i don't know 89% is what it is. okay fourth is a company working on an mnra covid vaccine.

it was only effective for the 43% that took it darn thing is half asf effective as moderna or pfizer fifth is light speed that makes software we use. i didn't like this one because every couple of weeks another company would come in and offer us a better point of sale deal it seems like everyone wanted a piece of r register. no barriers to entry no end to the pain light speed down to 86%. 86%. these are not laughing matters laundry, some square by this work management software and bought a lot of stock but the darn thing peaked at more than 72 times sales not earnings sales. the poster child for evaluation. it's fallen 85%. seven is oatly it morphed from serious losses it was trying to cash in on the plant-based movement like beyond meat but there turned to be no

movement or that's what the stock is saying. i actually like oatly which is a good reason to buy oat milk. down 84% unity software has a good product. at a time when gaming is being slaughtered. some feel this is like zoom of gaming software down 84% not only compass a real estate broke cage supposed to be pro pry terry. feels like natural stupidity to me, though because who wants to own a real estate brokerage with the real estate complex this is how it fell 84%. 84%. these drive people out none of these people -- they're not in the market anymore. number ten, rlx technology what is this a chinese vaping play. need i say more? it's also off 84%. a chinese vaping play. they make this up. do they make these up?

i'm asking do they make them up they're making them up they're making them up ask if they're making them up. are they making them up? >> yeah. >> number 11 too simple to you. [ laughter ] to you simple. [ laughter ] this is autonomous driving stock company. the stock turned out to be too hard watch out for the people that lost money down 83%. finally a tough slide for crypto it's been a tough slide for a corn base. the company tried to see how crypto works did not end well coin base is down 83%, too when the book is written on this era or many books written on this era, there will be a ton of commentary on spacs and lots to say about those who cony you int believing the downside is much more some of the most egregious offenders are the dirty dozen that hit you with repeated unsportsmanlike conduct down there giving it the business and only put your fportfolio and

reserve. if you only have one, you're gone into the ether or two-year trees sure rye it's the ipo market class of 2020, 2021 the shame, the shame joe in new york, joe >> caller: boo-yah, jim. >> boo-yah, joe. >> caller: the company i want to ask about has a new cto that previously ran the technology arm with the cto at disney plus. disney plus is well-known fervid owe streaming. what type of impact could video streaming have for shareholders of sirius xm >> sirius xm is a play on cards. don't think for a moment there is something else to it. that is the key data sell cars and the sell of cars isn't doing well

sometimes i get so upset because it's just a replay of 2021 of 2000, 2001 and i lived that and did my best to get people out of those i got you out of most of the stocks but not all and for that, i'm so upset but at least i tried. did they if you own more than one of these recent ipos, you're probably gone into the ethr or maybe the two-year trees sure r -- treasury. helping to get groceries to your store and an inside look at the state of grocers in the u.s. with the ceo and the market's latest leg lower, we've spotted something that might actually protect you with accidental high yielders that may be worth watching and social capital announced it's unwinding two spacs. i'm looking at that group, that space and tell you what the future means for there but all that did, too, is take away your money. so stay with cramer.

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most commodities have pull backs but still got a serious problem with food inflation. you know it and i know it. how do we beat it? how come those gains haven't

fully hit the consumer we're consulting an expert, a food wholesaler and retailer and huge business supply in the u.s. military this is a company the supermarkets get food from and they have our then supermarkets. this is up 13% year to date when the company reported they had a clean beaten raised quarter since then the stock is dragged down so let's check in with tony the president and ceo of spartan to get a read on the business welcome to "mad money." >> great to be here. thank you. >> you reached out to me, i want people to know this. i looked up the stock. you're up 251% since the summer of 2019 and which is extraordinary. you had a good run at a time when so many stocks are down so what makes you so special? >> well, let me give you some background we sit at this wonderful intersection between retail grocery and whole sale

we run 147 stores, that's 30% of the business we run 30 fields and provide the grocery services to 2100 independent grocers. we have a balance. an essential insurdustry and the basic blocking and tackling in the post covid era has allowed us to find ourself in some difficulty prior to the time frame and reestablish ourselves as a great player in the space we have, as you mentioned, the numbers a great run the last couple years we have great people and one thing that attracted me to this business fundamentally, wonderful people with great history 100 years strong serving the communities. >> one thing people should recognize, it is in all your documents and conference calls you do everything you can to hold prices down and it's very clear you hold a lot of company's feet to the fire what are you seeing now?

>> great question. we're concerned about the spies spiralled inflation. we're seeing this continued escalation of prices coming through. we've had over 47,000 increases this year so far that's not eight times the normal number we would get in a time frame like that we are of course, very adapt at negotiating and negotiating in a tough way with our suppliers we're in a brave new world so we're taking on this task of this merchandising transformation we're teaching to do at work more effectively. i've got a great set of merchandises but most weren't alive in that time frame there was a huge escalation of pricing so we know we have to be as sharp and negotiate in a very disciplined way and find ways for consumers to win and customers and find the right pricing and balance of promotions to find the best prices available. >> how many price increases do

you think are gouging. >> gouging is a tough word. >> i know. people at home are tired of it we might be able to say they're too elevated but you know how angry people are. >> we hear it every day. let me give you a couple examples we believe some prices may be higher than it could have been passing through the base cost. for example the last couple weeks we had a discussion with own of our providers of stuffing, the seasoned bread crumbs and said we need to take another price increase and propose a little over 10%. we said why? they said wheat is up 10%. well, you may find it surprising it's more like 20% overall when you add the other elements, right? it's a lot of that we're seeing people grab headlines of aggravations of their input cost and passing through that same type of increase

discussion with a seriacereal cy and they wanted a 20% increase we constructed their pnl and reengineered it and found the real aggravations, which are extraordinary were closer to the 4 to 6% range. right? so to some degree, the danger of course is the food manufacturers wind up exacerbating that problem with inflation if we don't actually find our way to the right pricing overall. >> at the same time, you do all this work with no attorney and it seems like you saved people in the military money versus having to go to the regular supermarket. >> big time. that's a significant source of the pride for us to serve the men and women that serve our country. we're a major supplier to the commissariries worldwide and have a great working relationship with deca and that organization works very hard to make sure their servicemen and women can get the great pricing and recently invested a lot more money about getting service to the soldier, getting those expanding the dates and expanding the times they're available and getting really substantially good pricing so

they're working hard. >> one last question, let's say the fed takes up rates another 150 basis points. >> uh-huh. >> would that at all impact any of the costs we're talking >> you know, i don't think it would be very needed impact for sure so the cause and effect of this is different than something we've experienced in our lifetime it really not so much about a white hot economy that needs to be cooled down in my opinion it's more about theres a lot of aggravations that came from this supply chain, came through in the post covid era and people are grappling with that and labor cost and there is confusion in the air that allowed for higher prices. >> i don't want people to get hurt too badly as you don't by rate increases that may not help them in the supermarket much. >> we would agree with that. >> thank you so much ceo of spartan gnnnash.

i said i have to have you on what did i say >> come on. >> immediately. >> announcer: coming up, stop, drop and yield have these stocks tumbled to a happy accident cramer delivers the goods. next

:with the yield and two-year treasury down 4.3% it's viewed as a sign we're on the cusp of recession because the fed will hit us with more rate hikes. the same time the rapidly rising treasury yields put tremendous pressure on dividend stocks. it cliche but i got to view this as an opportunity. at this point you get a chance to buy the high yielders, ahys the stock is hammered to the point the yields are

irresistible regardless of where the treasury is. i recommend you buy them here and build a position why am i so confident? because we embrace 2008 when the market falls apart and hold your nose and buy it and and stocks down 30% or more from highs that yield more than 4% there are 54 of these at the moment up huge from a few months ago and tonight, i want to highlight five that i think will work for you our first accidental high yielder is ford motor with a a % yield. not too long ago the stock traded in mid 20s when they earned and the company increases dividends and got hit with a one-two punch. fast forward today, the stock pronounced the latest in a string of lousy quarters they took a billion-dollar charge, commodities and gave an

earnings short fall because they couldn't find the components needed for the cars. however, they said the next quarter would be fine as they get the supply chain in order. unfortunately, ford's credibility is called into question whoever heard of a car maker held down by plates? why am i recommended ford? because it's the only auto maker with electric vehicles people want without advertisement there is a half they could hit a half billion by next year. that's why i think you're getting a very un uusual buying opportunity. ford can't produce enough vehicles on any product line that's how popular they are. buying back shares from the 20s. don't forget, they're paying it away with the 5% yield there is regional bank that is high on 4.9% yield

the spread what they pay for deposits and loans is getting larger, banks used to love when the fed raised rates to save the banks from the savings and loan crisis good question. the worry with the high recession and rates is a recession which means people can't pay bills and more defaults very few bad loans and i like the cleveland location plus a great pal lance sheet. it's insane to get it with a 5% yield. i expect slower loan growth going forward. i'm not worried about the spike because people were borrowing attractive rates and many are locked in. this is not 2007 how about real estate that's been through thick and thin? federal reality, frt that owns mixed use properties at a 4. 9 percent yield.

the latest quarter was spectacular and rates were higher, not lower. this isn't a shopping center play they own office space, residential space in the country great day offering same day delivery but even that can't compete with the store and it's right across the street or in your building. how much do i have in federal reality? look, during the early stages of covid when everything was shut down, analysts were convinced don wood would have to cut dividend they thought this was next they even heckled him on a conference call and you know what he did? raised the payout. federal reality had nothing to fear in 2020, they have nothing to fear now. the oil and gas company that pioneered the variable dividend policy back when oil was going through 100 on the way up, ceo rick told members of the cnbc investing club he wouldn't change drilling plans to chase the prices. that was smart

in fact, he was hedging making sure 20% of the oil and 30% of the gas was protected. that was smarter i know it's tough to get behind with crude down in the 70s as the fed shows no signs of easing up d devon's hostages is a payout but a $1.55 per share. if that's cut in half, the stock has a 5.4% yield i don't see it getting hit that hard now that devon's low cost structure and choice assets, not everything is falling apart. for a final pick, i was torn between best buy and 1-0 very good balance sheet but tough time to be an electronics time retailer. that said, if the yield gets to 6% then i think you buy, buy, buy. which leaves us with 1-0 and -- you know, 0 neok, 1.

this gets no respect a 7% plus yield and 25 years of positive dividends in the last five years it's gone from $2.46 to $3.74 i think it's only got brighter due to the pipeline scarcity in this country gets hit with the battle and wonder if something is wrong with the yield but a red flag. i've woften worried about that too but i'm not worried as long as ukraines fight with russia that shut down russian shipments to europe. and they have key pipelines that take this stuff to export terminals. i think the stock can work well for any portfolio that is searching for real and i'm betting the current selloff is temporary. just like the past ones. bottom line, as the fed continues the relentless efforts to slow the economy, you want to take shelter in the accidental high yieldsers because their dividends will get you something.

i like ford, key corp, federal reality and one oak, buy, buy, buy, they're all good to go. aaron in new york, aaron >> caller: hello >> hi, erin, it's jim. >> caller: hi, how are you >> i'm good. how are you? >> caller: i'm great thank you so much for having me on. >> oh, my pleasure what's up? >> caller: i was just wondering if j&j is a buy after the congressional regarding as best t -- asbestos in the talcum powder and the negative press they're receiving. >> a lot of stuff really gets thrown in. i mean, everybody is figuring that out at the same time all the staple spots are going down but not j&j. that's a sign of strength, not weakness my travel trust is committed and wants to buy more below 160. now lets go to tom in indiana, tom? >> caller: hi, jim hey, i'm -- >> hi, tom. >> caller: i'm asking about the simon property group, if it's a

good company to buy into and what kind of -- >> okay. you're reaching for simon properties run by david simon. if he came on i would feel better to find out why it yields 7.86% which is why i like federal reality, frt, which is a shopping center play, not shopping mall with mixed use including residential and office all right. these stocks are my top five accidental high yielders and these are where you want to be as the fed comments its relentless efforts to slow the economy. i think these stocks will prevail. there is much more "mad money" formerly said hot spac spaces cooled down so could this actually be a good thing for the market as a whole? even as i hate those stocks? i'm serving in the space due to my take and a host of critics in the fed's plan to tame inflation. where do i come down on the issue? i'll give you its strength all your calls, rapid fire tonight's edition of the lightning round so stay with

cr cramer

you don't need me to tell you the main culprit behind this bear market is the federal reserve's war against inflation will likely cause a fed mandated recession. i've said that over and over again while giving you a risk free 4.5% but that's not the whole story. i always say the bull market gets killed when they get flooded with low quality merchandise, lots of it. diluting demand for good stock and disgusting investors by tricking them into bad ones. in 2020 and 2021 there was a

diluge of ipos and that's been the market rejecting that insanity i covered the 0 slam shut these special purpose acquisition company spacs just keep coming there were and would never end they kept losing people money hand over fist and still do but while we were in san francisco last week, we finally got a positive development here. one of the most prolific spac sponsors out there announced he'll be winding down two acre n vehicles ending the pursuit of spac mergers he's a leader in the space many are throwing in the towel

liquidating investment vehicles and hardly any ipos as of late this is incredibly good news for the market if it's hard to appreciate positives in an environment that's this difficult, meaning this bad. now, i try to be a straight shooter here, though, and i've spent over a year warning you about these things and you know that i told you repeatedly that the market could have no long term piece of spac attack came to an end so now that it's happening, i think it's worth taking a closer look. first, let's talk about the massive pull back from the spac business, this is the guy behind a couple of the incredibly horrible deals social capital and spac funds, last tuesday we learned that two of the largest spacs had no plans to compete any mergers by october 14th it's the past dead deadline, th are blank checks, terrible idea.

remember what your mom told you, don't ever give anyone a blank check. more important, he laid out the rational for letting them online listen to this, while we came close to dealing a deal several times, we only walked away each time for a couple reasons. one valuation, a combination of factors made it difficult to find a company and margin of safety and pay too much and felt like he had over pay or buy an inferior asset to get the deal done no kidding second, volatility privately held companies are gun shy about coming public via spac merger given the state of market now. again, thank heavens this is called rationality it's a little late i think it was a wise decision and i wish more spac sponsors would follow more importantly, it's good news for the market why? look at how the other four spac

mergers sponsored by this guy are done he's taken four companies public vi virgin, the super early space play, open door technologies, the house moving business that continues strategy after zillow admitted the house flipping venture was a bust, clover health is supposed to be a disrupter in the health insurance space and sofi technologies the digital bank trying to disrupt the financial services industry all four of these stocks have been awful virgin galactic is down 92% from the highs in february of last year if you invest, you're still down more than 50%. open door is also down 92% from last year's highs including a 78% decline for 2022 alone you lost nearly 70% of your money if you got in on the spac at the start

thanks for nothing as for clover health, it's been torn to pieces including by short sellers. it's down 93% from the peak last summer this is a $2 stock for heaven's sake you'd be obliterated when it came public at $10 finally, i want to like sofi technology, the ceo is a terrific guy and not changing my view i look it long term but at the end of the day, we have to take our queue from bill parcells you are what your record says you are and that's a stock that's down 82% from the peak last year. if you led in on the offering, you'd be cut in half there is a secondary, boy, did they get lucky i believe in the company and it's a cheap stock but what a crummy neighborhood. it's no wonder these guys don't want to make any more deals. so many bad things happened in this market and of course, few startups want to do a spac merger given how most of them turned out i want these so badly to be

done they're a curse on the market. what makes this so huge is that he is practically the face of the entire industry and the spac king last year when these stocks were going up on nothing, he was incredibly promotional. constantly talking amuck the fact he's lick quidating twf the spacs speaks fire. 21 spacs have been liquidated, more than half in the last couple months with big backers like bill ackman, time's team and 4 billion in summer 2020 and red bull acquisition sponsored by billy bean, the former general manager of the oakland a's. brad pitt played him in money ball he's not a movie they tried to do a couple deals that fell apart now they've given up i want to mention -- i'm just selecting some i thought were amazing. mudrick acquisition had two failed deals they tried to merge with topps

but major league baseball d decided not to renew the contract and the whole thing fell apart and tried to merge with blue nile in the deal valued, write this down 873 million. 8-7-3 million. in the end they are buying blue nile decided to sell to cigna for 360 million. think about that they would rather have the cold hard cash from cigna and offered more than twice the price tag? this is only the beginning spac deals exploded late 2020 and many funds are approaching the two-year expiration date a year from now we can put this whole chapter behind us. one last point, it's not just spacs, the ipo market i mentioned at the top is not out right dead in the third quarter we had 25 deals. the worst third quarter from new issues in over a decade. even better, we had six new spacs created. we actually got the largest deal of a year or two weeks ago aig spun off that was a $1.7 billion deal and

accounted for more than 70% of ipo proceeds this quarter. the majority of ipos this year are absolutely tiny, way too small to talk on air spacs in retro speck are a bad idea whose time has come and if you're thinking of doing one yourself when you're watching, prepare for a hostile environment. not just from the public but from someone who starts each show with it's not about friends, it's about money. "mad money" is back after the break. >> announcer: coming up, cramer takes some calls and the sky is the limit. it's a fast fire lightening round, next. go. go lights. go big city lights. go spotlights. go stadium lights. emerson software helps clean energy

become reliable electricity. go “good night.” go boldly. emerson.

>> announcer: lightning round is sponsored by t.d. ameritrade it is time, time for the lightening round buy, buy, play this sound and then the lightning round is over are you ready, ski daddy time for the lightning round edwin in california, edwin edwin? >> caller: hello. >> speak to me. >> caller: hey, jim, how are you doing? >> good. how are you doing? >> caller: great thank you very much for everything you do. great -- >> thank you taking a lot of heat i don't mind. >> caller: yes. >> what's up >> caller: hey, what do you think of evergreen it's a critical management company. >> yeah, but there's a ton except for most of them make money. this one does not make money so i say, sell, sell, sell. georgio in illinois. >> caller: mr. cramer, long-time

viewer, investment club member. >> yes. >> caller: thank you for all you do for us. >> thank you >> caller: with the nfl season in full swing and more states approving online sports betting, having confirmed to take full ownership of media giant and marketing giant bar stool sports, what are your thoughts on newly named penn entertainment? >> penn entertainment is interesting. still prefer draft kings why? jason robins runs this terrific outfit i used to be affiliated with him. i like the way they work they do a lot of sports. i like it. i like it. by the way, can i just say that i think that this is a season for football that is going to surprise people when it comes to gambling let's go to john in georgia, john >> caller: yeah, i wanted to check on a company stock hl -- >> fiberoptic play doing very

well but sells way too high at price earnings multiple for me to recommend when there are so many cheaper stocks out there. let's go to mark in missouri, mark >> caller: good afternoon, jim boo-yah. this was mark. i watch your show every night. thank you for everything you do for the small investor my stock -- >> thank you. >> caller: delorean. >> the stock collapsed here in literally two week's time. why? natural gas has fallen from nine to six that's not a reason to give up but i understand why people are feeling justifiably shaken but i think it remains a very good spac how about marissa in virginia, marissa? >> caller: hey, cramer i'm new at investing and your show helped a lot so thank you. >> thank you. >> caller: about a month ago i bought monolific power systems should i hold on or sell it? >> oh, man -- you know what?

there are so many companies in the same business and has a very high price earnings multiple i'm going to have to say i do not like this stock. i need to go to frederick in florida, frederick. >> caller: hi, jim. >> frederick. >> caller: hello. >> you're up, what's up? hi >> caller: first of all, i'd like to say andrew did a fine job in his interview with cathie wood this morning that leads me to my question for you she's been the fire of millions of shares literally on a daily basis of a company called dna tr -- gna. trades in new york. >> look, she's a unique investor the stock has come down a lot. i think it is an interesting speck. i'm not going against her on the prices it's too darn low. how about we go to michael in

minnesota, michael >> caller: hey, boo-yah, jim thanks for taking my call. >> boo-yah. >> caller: what are your thoughts regarding cloud sflair? >> this is matthew prince with a ton of business on streaming balancing and the only time you hear for streaming, the more his has has. it's just now turning positive and i'm saying it's okay to buy. i know that's a tough call but i do believe it. ronald in florida, ronald? >> caller: yes, honor talking to you. can you hear me? >> same. you sound great. >> caller: i'm talking to you from the southwest coast of florida waiting for -- >> nice. >> caller: the eye of the cone to get out of here. >> yeah, wow hope it goes okay there. what's up? >> caller: about maybe two months ago i was surprised to hear you say it was probably

selling at about 50 and you said it's going to be about half that in awhile and i've been wondering how in the world did you come up with that and it turned out -- >> i don't like the shipping business i think the shipping business is a terrible business and i reiterate that that stock probably isn't done going down and please be safe and that, ladies and gentlemen is the conclusion of the lightning round. >> announcer: the lightening round is sponsored by t.d. ameritrade coming up, the inflation situation made simple or as simple as can be, next

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contrary to popular belief, inflation is not slain forget about it. most consumer prices are out of control. so we've yet to reach a point where you can honestly say the fed has gone too far i know this position is getting a lot of press professor jeremy segol from wharton is calling the 75 basis point heightening the most the economy seen he fears we could be in a recession. i say hold on. sure, commodity prices peaked. the proshares inflation expectation index also known as the rinf peaked in june almost every commodity is down for the year but how many commodities are below where they were trading when the pandemic began? isn't the ultimate goal?

i know only one, lumber, which is fallen to precovid levels and lumber is a key component of the housing. the average host lost 20,000 in value since the last tieghtening we'd have to see a 30% decline to roll things back to precovid levels which is what the fed wants. housing is headed in the right direction, we have a long way to go so the yield and treasury keeps soaring as investors bet the fed has to raise rates but a percentage point and maybe a percentage and a half before it truly breaks inflation how do we get this situation under control? you know what? oddly, i think this situation needs the help of companies. companies like costco. if you listen to that conference call last week where the legendary cfo put tutorial he says there's a lot of good news listen to this, quote, we are seeing just little light at the

end of the tunnel end quote as the price of food inflation is seven going to 8% there was a decline in food, which is a big deal different components of food the real hope lies in declining raw costs. we're seeing commodity prices coming down such as gas, steel, beef relative to a year ago, same goes for corn he goes on quote even some small cost changes in plastics we're seeing some relief on container prices end quote then he adds quote the supply chain improved a little including on time deliveries end quote and there are no many container shortages. these are all really important how does it translate for you? simple costco makes sure if a supplier raises any prices for those, they have to rollback those price hikes now the costs are going in the other direction costco has to force them into it it's better than the fed raising rates.

costco is how you beat inflation. i'm a proud member unfortunately, there is one thing costco can't get under control and rich says it and that's wages those are sticky almost intractable and the big box chain can't do nothing about them if costco wants good people, they have to pay for it which brings me to the fed beating commodity inflation but wage inflation is another story as the labor market remains tight i just came back from the west coast where there are more people looking for jobs than jobs that's a unique situation directly linked to the ipos. until it gets easier for companies like costco, the fed will stop hitting the brakes on the economy. i want the fed to stop because the rest of the world is in increasingly dire straights and tightening would be disastrous but half point more, that just might take down the help wanted signs and give wage inflation under control after the hikes we've had.

let me put it this way, when it comes to rate hikes, we're no long near a fist full of basis points but we've still got a few basis points more. i like to say there's always a bull market somewhere and i promise to find it for you on "mad money." i'll see news" with shepard smi starts now new info from the national hurricane center ian's plans for florida have changed. i'm shepard smith. this is "the news" on cnbc >> there will be catastrophic flooding and life-threatening storm surge. >> the storm's track shifting. >> they say mandatory evacuations. it's time to go. >> it's winds stronger but now the water is the focus. >> significant rainfall with the possibility of up to 25 inches. the january 6th committee postpones tomorrow's hearing the mountain of evidence, an