for demand insulation. plus, it's cheap 17 times the 30% free cash flow margins. >> charter communications. it's been hit and we like it for next year. >> great stuff thank you all very much. we'll see you guys on the other side of the holiday. be safe out there. scary time weather-wise. thanks for watching, folks "the exchange" starts right now. >> thank you, brian. hi, everybody. i'm kelly evans and here's what's ahead on this christmas eve eve. macro confusion for the markets. inflation coming down but not far enough growth slowing but not by enough, personal income higher but spending down, yields popping, but earnings falling. it's a night before christmas poem how do you position now? we will try to make sense of it. speaking of confusion, what are the chips signaling right now and should you scoop then up to

lead a tech comeback in 2023 we'll talk to our experts. and dan ives lowering his price target on tesla calling musk asleep at the wheel. he's still a buyer, though, and he's here to make his case with the stock down 60% this year the dow up 0.4% right now. 50 points off session highs. the s&p is up 13 the nasdaq is down nine. it can't quite join the rally. look over to rates for clues look at the yield on the ten-year we're now talking about just under 3.75%. this is a huge increase from what we were talking about just earlier this week. and, again, look at the gap here, the two-year, 432. this is helping resteepen the curve somewhat oil is moving higher on the news that russia may put its oil output due to the price cap. we're under 80 a barrel.

hess up f4 to 5%. we've had a jumble of macro data durable goods, personal income and spending, core pce prices, sentiment and new home sales steve liesman is here with the latest and what it means for the fed. steve? >> kelly, consumer spending slowed sharply in november after a breakneck october. the question is, whether they resumed it in december or is this the beginning of a long-awaited consumer slowdown 0.4 for income that's pretty good but down from the 0.7 from october. spending, there's the decline. 0.1% on the month after that strong 0.9%. a shift from goods purchases to services and the savings rate ticks up but still remains relatively low economist at bmo capital writes the flat volumes in november suggest a 3% plus on consumer

spending growth. any forward momentum appears to have fizzled with higher numbers dropping out of the readings from last year, the year over year inflation readings from the pce price index, that's the fed's preferred inflation indicator, did make some progress 5.5% about 1 1/2 points from the join peek and core is up 70 basis points that's falling a little more slowly both have a ways to go to get to the fed's 2% target but they are moving in the right direction. goods prices shows outright deflation right now. good time to be shopping for those for holidays goods and that's down now. but service inflation remains high that is the indicator fed chair powell has pointed to as his guide to how he thinks about inflation. fed fund futures, taking powell at his word, at least on the

near term, and training with a 65% probability of a 50-basis point hike on february 1st. >> where does that leave us, steve? what do you think was the most important revelation, if you will, now that we're going into the long weekend we'll have plenty of time to argue about it with friends and family what would you tell people is their killer talking point [ laughter ] >> i would say give as much love as you can to your family members and leave the economy to the side for the moment. but the durable number i threw out, that's a bogeing number. it's really the rubber match, december, kelly, that's what i'm interested in to know which way this goes. we kept sort of riding d-- writing down the consumer and they keep surprising us. i think the key number to me is none of the numbers i've talked about. it's the number of employed

americans. there's something like 4 1/2 million more employed americans this time last year than there were -- this time than there were last year that to me is really the key and i think december might surprise us to the upside and gdp is going along pretty well. if there's a recession, somebody forgot to tell the consumer. >> and the number of employed t actionable chatable thank you for now. we always appreciate it. steve liesman reporting. mega cap tech was supposed to be a sure thing but that's been anything but sure this year it's down more than 30%. meta, amazon, amd and tesla are down more than 350%. my next two guests say stay with tech in 2023 dan ives is joining us and kim forest is chief investment officer. welcome, thrilled to have you both here. dan, 250 to 175, the price target but it's still an outperform

i've seen how frustrated you are with musk. i see the way you write about it i know you're slamming your head against the table here why not just throw in the towel and say this stock is a seller >> it's a great question clearly demand, we're starting to see cracks in terms of china and the u.s. we had to cut numbers in terms of q-4 and 2023 and it's been a -- a ted striker moment as he's navigated this twitter situation. but our view on tesla long term, it's still what i view as a transformational leader in ev. i think it gets to a point where a lot of bad news is baked in. we're long-term believers. but this has been a nightmare on elm street. >> i was looking back at some of the things i've written about it, and we had spoken about when it was near its highs. it had a p/e of over 100 and pointing out, well, so did netflix, one time, so did amazon we've been here before but this collapse, if we want to call it that, has been much more

dramatic than certainly amazon's even then netflix. was that high p/e ever justified now in retrospect and what should a feasible p/e be now for this company >> i think about 75, 75% of this is musk twitter driven i think that's what's unique i think because he's used tesla as his personal atm machine to fund twitter, that's been an overhang in the stock. this is ultimately going to be something where it's the biggest transformation to the auto industry since the 1950s competition coming from all angles i believe sort of base case is 175. they start to execute, 5, 6, $7 earnings potential you could start to get back to the 250 level. for musk, i think he really needs to navigate tesla through the storm. >> do you think the fundamentals have been broken here? one interesting facet of this demand story now seems to be are

people implying from, let's say, the incentives they're offering, are people implying that the base demand for tesla is lower or did we bring forward two or three years worth of orders in which case we have to wait it out and it gets to a higher level. i'm curious where you think that is going. >> i think it's somewhere in between. there's a pull forward that you see and tesla was the huge beneficiary of that. i do think worries about brand issues because musk is tesla, tesla is musk. is that going to start to impact demand and in terms of the global macro, you're starting to see cracks in the armor for tesla, but also competition coming from all angles you're starting to see they're not the only game in town. and that's why now this is a pivotal three to six months ahead. i believe they can navigate it, but now it's really ultimately going to be -- i'll call it a moment of truth for musk and tesla to get through the storm.

>> one more and we'll broaden it out to tech more broadly we had a formally $1.2 trillion company. i imagine you don't think it will get back to thatsize now. why not make it a sell you know, in retrospect, is there anything -- the question is sort of, anything that we didn't see coming? is it just the extent to which the twitter drama has it permanently damaged the twitter brand? is he done with his stock sales now? there's so many factors here. >> the bigger thing is underestimate even for musk is just how much of a train wreck this has been since late october. there was a thought that ultimately it would start to calm down. because of selling of the stock and some of the brand issues and what he's done on twitter, i think that's something that's had just an unbelievably negative impact on tesla as a stock in terms of the valuation. musk has done it before, he could do it again in terms of where ev is going to go, 4, 5

trillion that's going to be spent. but now no longer is it this magic carpet ride. he needs to navigate tesla through the storm. so far, it goes back to, he needs to be a leader, a ceo, it's no longer that ted striker situation which is what it's been for tesla investors, rocky balboa is what it feels like >> no stock sales now until 2025 >> but that's the boy that cried wolf and everyone wants to believe it, but it goes back to that pinocchio situation, he now not just needs to talk the talk but walk the walk. >> any comment on tesla before we move on >> not really. to me it is a consumer stock because it's driven by people buying cars, right i've been somebody that has spent most of my career looking at technology and how it adds productivity, and i think tesla is more of a consumer play and

brand is superimportant. so i agree with dan on that. >> but i love -- the tech people are like, it's a consumer play it's not worthy of our discussion here. let's talk tech. i'm impressed that both of you think that chips are a place to be for 202023 because that it looks like it's in the middle of one of these overcapacity cycles make the case. >> it was a surprise when the economy turned down this year or actually when the fed turned its rate knob up to 11 and, you know, really did a number on the bond market and the stock market and that's showing up in a -- an expected place which is technology, right? and a lot of the names in technology are dependent on having a low interest rate and that no longer exists. but should you throw out technology all together? again, i'll be dismissive and say, you know, i don't know why consumers love technology, but

they do. i like to look at productive technology and that's why i know technology is coming back. because we're not -- we have a productivity problem here in america and the way to get productivity is to give people information or replace them with robots or some combination to make your employees that you have more productive and that's pretty much my bull case for semiconducts. >> i could see that in a recession that it accelerates. what about those of us who are like, well, maybe i want to move to the sidelines until i have a clear view that this overhang -- the analyst we spoke to yesterday said he thinks it will last through all of 2023. >> it's to stay on the sidelines. i think it comes down to valuation is baked in. in 2023, it's for chips, software, for the rest of tech you'll see that moment in terms of cut numbers and i believe --

in our view, it's underowned as we've seen tech going back to 2009. >> have we reached the rip the band-aid off yet >> we would rather be exposed to those trends as long-term investors. >> and the chips are underowned, even names like nvidia, amd. >> chips, software and overall tech, they're under owned. every time you get in front of these prints or you own them, it's multiple compression. and that's why right now, bears are ultimately really the winners, but i believe as we go in 2023, it's our view that overall tech stocks will be up 20% despite the dark macro. >> kim, a final word. >> i agree with dan, let's do this, let's agree to dollar cost average. buy a little bit this month, and some months, you are going to be right that these are going to go higher and they've always pivoted quickly. they pivot quickly down. but they pivot quickly back up

and that's why you should always remain exposed to technology >> kim forest, dan ives, thank you both very much the case for tech and tesla in 2023. deal making so last cycle. my next guest sees companies doing something else next year to raise quick cash. we'll tell you what this is. energy, best performing sector, again, today the only one in the green this year is it too late to get in why the answer might be no if you bet on this energy stock our mystery chart ahead. let's get a quick look at the markets where the dow and s&p are hanging on to slight gains the nasdaq is negative and the ten-year yield is right around 375. we're back after this. you ok, man? >> announcer: this is "the exchange" on cnbc. look! what's up my trade dogs? you should be listening to me.

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or pay by the gig. all on the most reliable 5g network. with no line activation fees or term contracts. saving you up to 60% a year. and it's only available to comcast business internet customers. so boost your bottom line by switching today. comcast business. powering possibilities. welcome back to "the exchange." tightening financial conditions have slammed the breaks on traditional m&a. deal values are down 37% from last year. but spin-offs and diverstitures could be another johnson & johnson and kellogg planning to split up their businesses as well could this be a trend for 2023

we'll talk about it with emily feldman. she joins us here alongside bob pisani and it's great to have you guys both along with us. emily, you're always kind of trying to make the case for value here why do you think that 2023 is going to be an especially perfect year for this kind of activity. >> thanks, yeah. i think it's a couple of factors that are coming together first, obviously the macroeconomic is challenging right now with interest rates on the rise and stock market volatile and heading downward at various points so, you know, really sort of seeing that a lot of times what this does is that it makes the priority on focus that divestitures can help achieve important. by divesting certain businesses, companies are able to focus in on new resources in key areas of business that are central to their charge really helping them to align around those priorities as opposed to having a more diffuse portfolio. the second reason is also that

we can really see divestitures helping to generate liquidity in certain cases and that can be a much-needed source of capital as well >> bob, what do you say? she's providing the framework of why we might be seeing a lot more of this >> yeah, look, there's a simple problem with 2023. companies need to raise cash under any normal circumstances how do you raise cash in a rising interest rate environment? it gets tricky and expensive one simple solution would be divestitures this might be especially good solution when you got really loud activists investors floating around and there's a lot of them out there. kohl's, amazon so that might make a lot of sense. i guess the question i would have for the professor is, we don't study die gevestitures ve much do divestitures work do companies actually do better when they've been spun off into

another company or out of the original company at all? is there any evidence that it's helpful for the company? >> emily >> yeah, thanks for the question i definitely can speak to this and i feel strongly about it having written the book i just wrote. divestitures create value. shareholder value for companies. in fact, on average, it creates two to three times the value of mergers and acquisitions it's striking. it's almost this prioritization on exactly the wrong strategy in a sense, right, that we're seeing this focus on expansion as opposed to reduction. and so exactly like we've been saying here in this conversation, why are divestitures so valuable because they can help this realignment, this liquidity generation, all of these sorts of factors that are quite important. so i think it really begs the question of, can we reframe that conversation around how can we use these transactions

proactively to help generate value for companies? especially in an environment where that's going to be important. >> bob, talk us through this from a stock point of view we all know what to do with traditional m&a. if you've got the acquireee, you could get a 20% jump in your share price. i hate to say this, it usually comes from a place of weakness and there seems to be questions about the performance of the spunnout stocks. perhaps with the exception, i think it was ferrari where that spin-out has been incredible successful. >> yes, but for all of those, you can point to others that have not been. what i notice after -- i've been the stocks correspondent for 25 years. these things go in cycles. what i've noticed is that there are cycles when mergers are a big thing. people want to go out and be acquirers, they want to expand their portfolio and then there are the opposite where people want to divest and spin off.

i once interviewed a very famous media mogul, 15, 18 years ago. he had made a famous acquisition and four or five years later, had taken the same company and spun it off. he said, well, that was then, this is now. so i guess it's a long-winded way of saying, these things go through cycles, right? there are periods where divestitures are more common because of the economic conditions or because companies make decisions that didn't fit quite as well as they thought it was going to be. >> they certainly do i agree with that. there's incredible cyclicality and the other point i would adhere is that in spite of that cyclicality, we end up seeing really strong outperformance of companies that are spunnoff. the average number is something like 15% analyzed returns after businesses are separated i think that this idea of, you

know, sort of really allowing individuals individuals to thrive independently even if the previous strategy that led them to combine in an acquisition might or might not have been flawed can really be an important reason why these transactions are so important. >> thank you so much we really appreciate it. it gives us a lot to understand about what might be coming down the pike we appreciate it still ahead, the nearly $2 trillion spending bill is working its way through congress with big implications for americans. it's got hyperlocal project funds, lawmakers taking advantage of those earmarks once again and we'll try to run through all of it coming up. first, sam bankman-fried, the ftx co-founder out on his $250 million bond. we've got the latest in that saga and what's next now that he's home for the holidays as we head to break, here's a look at the dow 30 heat map. the blue chips up 130 points chevron leading the way. while 3m is the laggard. down a little more than 1% "the exchange" is back after this

welcome back, everybody. dow is up 191 at the highs today. it's hanging on to a gain of 124. it and the s&p are in the green again. but the nasdaq is negative by ten points as for the movers this hour, watching hpe in talks to acquire nutanix. both are heading lower it was down as much as 12% earlier on biogen also paring earlier losses there was a third death in the trial of their experimental alzheimer's treatment and they're investigating the case shares are down half a percent

a plunge in avocado prices is hurting shares of mission produce. they reported disappointing revenue and profits but not enough to offset avocado deflation. shares are down 15%. and a check on the airlines as that winter weather wreaks havoc across the country united lower by half a percent, american and delta turned higher today. let's get to tyler mathisen for the cnbc news update. >> i'm dressed in sympathy for those who are freezing and frigid today welcome, everybody here's what's happening at this hour millions of gig workers will get a one-year reprieve on new tax reporting requirements ebay and airbnb will not have to send out tax forms to sellers doing as little as $600 worth of business. in paris, protestors clashed with police after a gunman killed three people and wounded three others at a cultural center in the city riot police fired tear gas to push back an angry crowd that

formed some hours after the attack a suspect has been arrested. prosecutors say he was recently released from business after attacking migrants living in tents. considering a possible racist motive for the shooting. and the storm has turned deadly in kentucky, three deaths very confirmed as a result of the brutal cold. state officials urging people to stay off the roads which are incredible icy in many areas forecasters say temperatures may not get back above freezing until monday or tuesday. i looked at indiana's temperatures, minus 6 at this hour. >> we can't complain about 18 degrees, but i will anyway. >> go ahead. >> see you soon. coming up, unreliable contrarianism. one manager says don't be tempted by the cheap stocks. stick with what's working especially if we're headed for year two of a bear market. that's next on "the exchange." because you've got the next generation

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tech but my next guest says no. here now with how he's playing energy and the rest of it is chief investment officer at smead capital management i worry about energy because it's done so well and oil prices have kind of dropped off at year end and ed morris has me thinking, maybe he's right and it's going to be kind of a grind next year. why should i own these energy stocks >> first off, they started from a 246-year low in the middle of 2020 versus stock prices oil and other commodities were the cheapest to stocks in 246 years. reversals like that take 10 to 12 years so, yes, we're in them for the next ten years and they'll be a

few correction years in the process. and that might be this next year, if there's a deep recession. but the truth of it is, it's a better business to be in right now. if you own the entire company of o occidental, you're getting a 40% return on your book value. that's way better than any time in decades for this industry >> and you think -- how long -- let's put it this way, all of this is happening against the backdrop of a world that is trying to get away from fossil fuels and there's political pressure to do so and divestment and we saw with tobacco stocks, they can still turn in strong performance. should we expect a rerun of that should we expect this performance sort of let's call it double digit annual returns to persist even as the world turns into an electrified world? >> first of all, they're a tiny part of the s&p 500 index.

they're about 4, 4.5% of the index. they peaked in 1981. almost the same peak that the fangs has a year to year and a half ago what we know is the transition away from fossil fuels is going to last decades, not years and warren buffett was the first one to say that a year ago, may and he owns the largest energy utility in the united states of america. and is spending $3.9 billion to build wind and solar farms in iowa when he's buying oxy and chevron, he's saying these are priced to last five years or ten years and their profitability is likely to last 30 years. remember, it's one of the ways of making electricity. there's only four ways to make electricity right now that are viable and that's wind, solar, natural gas and putting gasoline

into turbines which is what they do in california when they have brownouts. they just don't mention that. >> right so the case of energy being what it is that you foresee, where would it rank in terms of your best ideas i know you like stocks better than sectors and -- but we're talking about these broad themes i can't imagine you're that optimistic about what's going to happen with the economy next year we like the consumer story long term how does the rest of the market shake out for you, bill? >> well, there's been a couple of reports here in the last two or three weeks, a thesis we've had all along is, you know, 35 is the new 25 in the united states when it comes to age. right? 35-year-old millennials are doing things that the predecessors did at age 25 so we're in a sweet spot with the largest adult population group and that's making the economy better than it would be and it's going to make it hard

to have the kind of deep recession that people have worried about. so we're in that strange camp. you mentioned as a lead-in this is likely to be the second year of the bear market because it was designed to unwind the sins of a ridiculous financial euphoria episode that were exemplified. sam bankman-fried is now the poster child for thisone, the same way whoever it was the poster child for the dot com bubble as the fed raises rates, as someone said on your show earlier today, powell does not want to be the fed chairman that sat over watching inflation get out of control so higher rates, stronger economy than expected is an almost ideal circumstance for people who want to buy oil stocks but the big money people, the fidelitys, the vanguards, the

blackrocks, et cetera, they have so much money it's hard to get that into the oil industry what about the smaller ones? what about the ones that -- you know, the oxies that are smaller. it's hard for them -- it's going to take them a few years to get in and that's a nice wind at the back of our sails. secondly, these homebuilder stocks are doing better than we expected, right? and that's because they got so cheap at 5 p/e that discounted '06 through '12, and with all of these millennials you can't have that we have to build a lot of houses we like what we're doing we think we're going to do well. but we think that people are going to struggle in the index and in the popular tech stocks.

>> that's almost double digits and that's exactly the kind of analysis you do. bill, it's great to talk to you today. thanks for your time >> thank you. >> stick with what works, energy, he says for 2023 still ahead, sam bankman-fried is home for the holidays the ftx founder released on a $250 million bond. under home confinement while awaiting trial for fraud and other criminal charges we've got the latest bitcoin down 60% this year its first loss since 2018. we're back in a moment ♪ ♪ a cyber-attack can grind everything to a halt. cisco security keeps your company moving forward. because if it's connected, it's protected. cisco. ♪ it's a lovely day today ♪

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agreement. he appeared in a manhattan court yesterday after being extradited from the bahamas he was granted bail on the condition that he handover his passport and stay within northern california and certain parts of new york. he needs to submit to mental health counseling and wear an electronic monitoring bracelet and needs government approval from expenses above a thousand dollars. the judge decided sam bankman-fried wasn't a flight risk since he's gained sufficient notoriety, making it impossible to engage in more financial crimes without being recognized his parents both stanford law professors, put up ektquity in their $4 million home. it will be signed by at least one nonfamily member it also needs to be total signed by four people, bankman-fried doesn't need to post that full dollar amount, but his parents are on the hook for that if he flees or fails to show up to any upcoming court appearances the u.s. attorney called the

alleged crimes a fraud of epic proportions. he said that it's the largest ever pretrial bond that they had seen tom barrack's bond was around 250 bond the former enron ceo put up 5 million. elizabeth holmes was set at half a million dollars. it comes as bankman-fried's top lieutenants, carolyn ellison and gary wong pleaded guilty to fraud charges and are cooperating are law enforcement. he was indicted in federal courts earlier this month. his next court date is coming up on january 3rd >> how crucial is the fact that they've turned on him basically. >> that's key. and we've also got some new information as far as a plea deal that was unveiled today and federal prosecutors says, they did not -- or they kept it basically sealed until sam bankman-fried got on the plane so he wouldn't avoid extradition. knowing that, it seems like that

would have been a huge factor here in his deciding to come back to the u.s. i'm told by legal experts that this really does not leave him a lot of wiggle room these are his two top associates they're not average employees. these two people would know exactly what happened here and others i'm told, the fact that he acceptled extradition, took this bond, there's signs that he's likely willing to cooperate and may be looking to strike a deal of his own. >> and if they hadn't turned against him, they all could have tried to make the case for, hey, this is how an exchange operates one customer had a big margin position once they flip and say, nope, he stole the money, this was his plan, his intention, doing, it's going to be a -- >> prisoner's dilemma, right it could have worked that way. if they were on the same page. now that it's everybody singing. the other thing that the prosecutor said this week, they were calling other people and

saying, hey, guys, we clearly have two of the top associates if you're involved here and willing to speak, we're still looking into other people and other people close to the company. so it's not clear that any of this is over there's other top executives that might no be culpable here >> now the over/under seems to be on how many years he'll serve. we'll save that for next time. a shortage of pain and fever medications for children has the triple-demic continues to rise is the supply chain or the health care system to blame? we'll ask an exarepert on the oe side of this break we'll be right back.

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welcome back we're seeing empty store shelves yet again. this time not for toilet paper or baby formula. it's a shortage of children's medicine parents are scrambling to find tylenol, advil and motrin. my next guest says the suppliers are not prepared for the spike in demand and there was no stockpiles joining me now is erin fox, senior pharmacy director at utah

health you are the shortage's guru. you are exactly the person to speak with about this. and we've had shortages of kids medicine like tylenol back in 2018 why now? >> it's the perfect storm, right? we have suppliers who really weren't ramped up for this kind of demand spike and we also have supply chain challenges with not enough staff to stock the shelves. not enough drivers to direct the supply room. we're seeing the empty shelves >> i understand if, you know, demand goes up a little bit. what are the numbers here? did demand spike two an unreasonable degree? should we not have expected the supply chain to keep up? or should we be furious that these supplies simply aren't there? >> i think we should expect more from the drug manufacturers. this is, unfortunately, similar to other shortages that we have all the time in hospitals. we see not enough product, very just in time manufacturing and

really just a lack of planning and a lack of willingness to have resilience in their supply chains >> it would have been nice if it was the ability to mobilize infrastructure to quickly supply whatever we might need in the medical world. will we ever get to a point like that >> i hope so covid has really started the conversation around supply chain. we're talking more and more about it than we ever have we've been tracking shortages for years. this is progress even though we have empty shelves >> what should i tell all the parents in my neighborhood who are scrambling to say, okay, i'm trying -- you know, when are these supplies going to be replenished? we have text groups where they're saying, the pharmacy in the next town over, they have plenty of this medicine. there's a lot of this kind of bhaufr what's the advice to people? >> it's, you know, take a deep breath make sure you have that plan with your pediatrician about when to give medicine and what

dose also, you know, different products are going to be available and so that product that you're used to buying might look a little bit different than a store brand. if you're used to buying a store brand, you might have to buy a brand name product but might have to buy a brand name product so talk with them about options. and try to be patient and resist the urge to maybe grab that extra bottle for yourself so that someone else can access the product. >> do you think an executive order would fix this, and if it requires drug makers to have extra stockpiles, and i'm painfully aware of how quickly it expires, but would that raise the cost for everybody >> potentially, but i think that there could be a rotating stockpile. we just need to pay more attention to it. an executive order could also give the fda more visibility when companies are having to

have spikes. right now they can't do things to help other suppliers make up the difference so an executive order could help, but also certainly government has a role to fund perhaps a rotating supply where the product wouldn't expire but we might have a longer runway when there are these glitches or demand spikes. >> can i use expired medicines and if so for how long, and i know that you guys at the university of utah are even crushing up tablets for instance to try to give them from the adult patients to maybe the children what are other ways extending past the expiration date, using adult medicines, what are options for people >> that is where having the conversation with your pediatrician is so important there are a lot of pharmacies that can compound products by crushing up medicines or just making a solution out of powders. so that is another option for people it might be a little bit more expensive from the compounding pharmacies advice on using expired medicines is really hard

just don't necessarily recommend it especially because these liquids, they do have a short expiration they can potentially be contaminated depending on how they were stored and when you use an expired medicine, you are in that tough situation of not knowing if your child is not improving or if the medicine just didn't work. so i would not recommend using expired product because of that. it is so tricky to know if your child is truly getting the ben si benefit of the medicine or not >> and so who close are we do the crisis point a lot of parents feel like we're already in one, but what would happen if these shelves and especially once people are overstocking, if they really run dry and we face the situation where it won't be a alleviated for quite some time. >> i think that we're in a good situation with the shortage in that it is a demand spike. that means that the companies are already ramping up, they have already known that they

need to improve their production and really make more with most shortages, it is actually a quality problem that can take years to fix. we're not in that kind of a situation right now, so that does allow the drugcompanies t ramp up that production. so i don't think that we'll be in, you know, a year long shortage, months long shortage overall things should really start improving over the next few weeks to a month >> i hope. erin, thanks so much you have a great website if people want to look it up themselves erin fox, we appreciate your time and coming up, earmarks. they are back. lawmakers are packing the nearly $2 trillion omnibus spending bill with pork we'll dig into the pet projects next [finger-tapping] if your work, works for your community, then you're on team earth.

breaking news on the $1.7 trillion omnibus bill from the

house, ylan mui with the latest. >> the house is on the verge of passing that sprawling government funding bill. they have the votes to get it done currently the tally is 224 in favor, 200 against six members have still yet to vote but clearly they only need 218 at the max in order to pass it, so they are well on their way to doing it a republicans largely against, democrats largely in favor of it the bill would fund the government through the end of the fiscal year and ahead of the vote nancy pelosi gave what is going to be her last speech on the floor as speaker of the house. and she called this a package for the people now, once the gavel comes down and the house actually passes the bill, the next step is for it to go to the president's desk for his signature, but that process can take a couple days remember the government runs out of money at midnight tonight, so congress has also passed another short term stopgap funding bill to last through december 30th to

make sure that there is no accidental shutdown while they work to getting the final version of this bill to the president for his signature. a lot of procedural drama, but the bottom line is that congress is just about to pass that $1.7 trillion government funding bill >> by all accounts it has a lot of earmarks, pork if you want to call it, that back to the future style bill here. what all is in it? >> yeah, there are a lot of things that are completely unrelated to government funding that are attached to this bill and one of those is earmarks and that is what we call them, known in congress as member directed spending or community funding projects there are more than 4,000 earmarks in this bill from republicans and from democrats totalling about $9 billion so there is a lot for both parties in this bill one of pelosi's favorite sayings

is republicans like to vote no and then take the dough and this is one of the examples of that >> and so we're calling it a funding bill for the people. any examples of the kind of thing we're talking about or a case of let's pass it to find out what is in it? >> yeah, so a lot of the projects that have been requested are for things like fire stations, police, and things like roads and bridges, et cetera. but there are some interesting tidbits in there such as money for tick management and also maryland senators requested for oyster restoration and one congressman even requested money for new radios for his police station in hancock county, mississippi. so there are real constituent service projects that are in here but there are? guardrails around these requests after they had been criticized as being wasteful government spending lawmakers have to certify that they don't have any financial interests in the projects that they are requesting funding for,

neither themselves, their family, their spouses, et cetera and it can only go to a nonprofit, not a for-profit entity >> very interesting. you always have all the info and i fully important the one that studies ticks thank you for all your reporting. and that does it for "the exchange." "power lunch" begins right now welcome to "power lunch. here is what is ahead. stocks are bouncing back today after yesterday's big decline. what everyone wants to know is will santa bring a rally to wall street next week we'll dig into the where the markets are now and where they are headed in the new year and car trouble, big declines for the automakers so far in december and so is the economic reality possibility of a recession slamming the brakes on what was once a dream market for the auto industry but first, why don't you check out the