here's the teachers union, 1.7 million, saying, yeah, you don't adequately protect those teachers and we will support strikes on behalf of our 1.7 million members. not good news for the economy. my time is up but neil's back. neil is back. neil, it is yours. neil: thank you for david and connell filling in my absence. i got more emails, like, let's pray neil is not returning. i can't believe my wife wrote that. if you don't like it, turn the sound down and imagine it is someone else. we have all concurrent developments right now. we're on capitol hill, we're looking at a new stimulus package. republicans want to limit it to

a paltry one trillion dollars,. only in this day and age can one trillion seem cheap. democrats want 3 trillion. we'll follow battle back and forth. in texas where we're seeing a spike in cases but some are finding positive signs that the spikes are not quite as high as they use to do so be. also that, and the vaccine push right now that has some promising implications for texas. to silicon valley, what is going on there. a lot of tech ceos on wednesday will be on capitol hill. let's just say the environment might match the weather, hot and getting even more heated. so let's get to it with chad pergram with republicans with their own coronavirus bill, that also tackles that sticky subject of those jobless benefits. courtesy of uncle sam. chad, where do we stand on all of this. reporter: neil, they released their plan yesterday, about five or six distinct proposals. frankly republicans are in a pickle. there is a lot of disagreement,

there is a lot of disowe nance on the republican side of the aisle. house speaker nancy pelosi knows. that listen. >> i don't know if they have 51 votes much less 60 votes to do any of that in the senate but i do know, that we haven't heard anything yet, that is, even close to what meets the needs of the american people. reporter: there is disagreement amongst republicans about unemployment insurance which expires later this week. republicans focus on a provision which paid some people more to stay off the job. republican texas senator ted cruz said that provision was a democratic election year ploy. >> if the democrats succeed, their objective, they want tens of millions of people at home alone unemployed, broke, and ticked off because they think that is how they elect joe biden reporter: senate majority leader mitch mcconnell knows it's a struggle to coax republicans to align around one plan. he is buying big time, by

pinning delays on democrats. >> i hope this strong proposal will occasion a real response, not partisan cheap shots, not the predictable tired old rhetoric as those, as those these were ordinary times in the nation could afford ordinary politics. we cannot have a senate minority decide in june it is done legislating until november. reporter: later today the secretary of the treasury steve mnuchin and white house chief of staff mark meadows will come to capitol hill to continue negotiations with house speaker nancy pelosi and also chuck schumer the democratic leader. they were here last night. these talks are serious. there is no posturing going on because you have the white house talking with democrats. they are going to need democrats to get this bill through, he. they will not finish this later this week. it will bleed into early august.

i was told earlier this morning they can pass what has been term ad skinny bill about 1.5, $1.7 trillion a skinny bill so to speak. nancy pelosi will need big wins there if they come off the three trillion ask which she put forward back in may. neil? neil: all right. chad, thank you very much. my friend chad pergram on capitol hill. encyclopedia of all things going on there we want to pay attention what is happening with the cases across the country and spikes you heard so much about. 21 states are in what they call worrisome spike territory but even allowing for that the progress of the spikes is ebbing a little bit, coming well off their highs. casey stegall in dallas on that, and specifically what the state is doing to deal with all of that, amid talk of several vaccines that are moving rapidly along. sir? reporter: neil, the pandemic is proving to be deadlier

unfortunately here in texas than first thought. 675 fatalities were added in the last 24 hours. not all of those happened in a single day, rather the state has changed the way now that it records covid related deaths. instead of reports from local officials, the state health department is now logging death certificates in real time, so that new method has pushed the total number of coronavirus deaths in texas to more than 5700. that is 13% higher than previously thought. now the race to find a successful vaccine is on multiple companies are currently working on them as you know. yesterday biotech firm mode derna entered the third phase of its clinical trial as did drugmaker pfizer. 30,000 healthy volunteers from all walks of life will participate in each study. so we're talking about 60,000 total. some will be given the vaccine. others a placebo and then

scientists will monitor them. the feds remain hopeful one will be ready by the end of this year or early 2021. >> do one for the covid-19 and said okay, i'm in, as long as i'm able to do it because i'm of the age. so they said, yeah, you qualify. so here i am. reporter: thankful to the volunteers, no doubt about that. meantime kentucky, latest state to roll back some of its reopening after a surge of new infections. the governor there has ordered all bars to close like other states have done and restaurants have to scale their seating capacity back to 25%. just breaking at this hour, florida has now reported 186 new coronavirus deaths today. that is a new daily record. it pushes the total death toll in that state past 6,000 now. neil? neil: thank you, my friend,

very, very much. casey stegall following all of those developments. these are just not developments unique to the united states. before coming up here we've seen noticeable pops in cases in vietnam, australia, in spain, in hong kong. in hong kong it has gotten so bad they're closing down street blocks, having nothing to do with protests by the way and everything to do with sudden, unexpected spike in cases even in parts of china, even though the chinese are not detailing where they are and how many have been affected. into all of this senator kevin cramer, north dakota republican senator joins us right now. senator, you worried when you hear these reports, not only of spikes of cases here, but abroad, that this is proving you know, a nasty thing to get under control, maybe rougher than we thought? >> well, neil, maybe it is, what i worry more about is the response to it all, the panic it creates, the fear that drives people's thinking.

to suggest somehow we should live in a risk-free world is silly when you consider all the other ways that people can get sick and can die, the way we, even keep track of numbers is a bit i think confusing to a lot of the public. at the end of the day we have to make sure as the president said from the very beginning that the cure is not worse than the disease. that is why i worry about as we think about an economy that opens up that includes and should include schools being reopened. neil: you know, as things stand now, senator, i know it's a moving target. even figures i got from this morning middle east be dated already but 26 states now are in all or part delaying the start of the in person school year or just going entirely virtual. some are splitting it between virtual and in person classes but, this seems to be growing theme. are you worried that the recovery itself is in jeopardy, whatever the medical necessity

of that? >> well, i do worry a little bit about that. again, regardless of the medical necessity, what you know drives reality how people respond. if you don't have schools open, that means one parent probably will have to stay home otherwise would be earning an income. it means that school supply distribution and what not would be hurt. that is part of our economy. obviously also means that our children may not be learning as much and as well, that is competitive issue. this is not as you said earl early unique to the united states of america. it is global. neil: wonder what about the stimulus measure that you and your republican colleagues are working on, is it fair to say the $600 a week unemployment benefit will end? it might be less but certainly won't be less than $600? >> it will be less than $600. we cannot have economy reopen if a large you will number of the

workforce getting paid not to work. that clearly didn't help with the recovery. to reopen the business you need number of things. you need capital, you need market and you need workforce. that is why our package focuses on that as well incenting schools to reopen in a safe way as well as focusing on the health care needs that fight this virus. that is why this targeted approach that, only cost a trillion dollars as opposed to the left-wing wish-list that the democrats have brought up that costs $3.4 trillion. neil: you know, i'm just wondering if there is a delay in reopenings, pushing things back, those same people getting these unemployment benefits will point to you, senator, and say, well you know, we're the ones hurting here and you're acting like these delays aren't happening? now you're cutting what has been a vital way for us to pay our bills and to avoid foreclosures at a really bad time, what do you think of that? >> well i think that you know we

live every day with certain amount of uncertainty, neil, but the goal should still be the glory of work, joy of living to quote north dakota's favorite president theodore roosevelt. we need to protect people who cannot get a job and cannot work in whatever field they're working in but at the same time employers have willing workforce and not incented not to work. we simply can't have either/or second quarter stanceses, if keynes was right all along, tax everybody to death, redistribute the wealth, that is what everybody wants to do. we need to keep people safe and that includes reopening schools in a safe manner. neil: you have to get a deal done pretty fast. maybe by the end of this week. is that doable. >> well i don't know that it is doable by the end of this week, neil. certainly right now looks like we're a long ways apart.

i applaud leader mcconnell come up with tightened up proposal. the house leaves for august recess. seems they're willing to come back the following week when we're still in and wrap something up if it is necessary. as far apart as we are, one thing i noticed about this place, we always do our best work when there is a deadline looming. only makes sense as long as the clock is still running, negotiators will try to put points on the board but we're also driven by deadlines, the fact that these, some of these benefits do run out and people really need help. we have to find a modest approach. neil: all right. only in this day and age, senator, $3 trillion considered a more modest approach. the times which we live. good seeing you again. >> good to see you, thank you. neil: there is other drama on capitol hill. attorney general of the united states, bill barr is speaking before the house judiciary committee. the big theme is call to bring in troops and cities in cities t

ravaged by rye violence this is the from the attorney general earlier today. >> in the wake of george floyd's death, rioters, anarchists have hijacked protests to wreak havoc and destruction on victims. the current situation in portland is a telling example. every night for the past two months a mob of hundreds of rioters laid siege to the federal courthouse, the courthouse, relatively small number of federal law enforcement personnel charged with the defense of the mission, to protect the courthouse. what unfolds nightly around the courthouse cannot reasonably be called protest. neil: all right. bill barr, he is still speaking right now. this could go on a while. let's get read from doug burns, former federal prosecutor, legal smart at this pants in his own right. this is the back and forth

between republicans and democrats. more specifically between the administration between the american station with democratic mayors and portland and like seattle where they find presence of troops to be instigator of violence, not solving mechanism. what legally of the president's obligations when violence is running rampant as it has now for the better part of 60 days running in the portland area, what are his choices? >> well, neil, the president has, you know, three options. he can bring in the national guard in a national emergency. an outbreak of violence. he can use the u.s. military notwithstanding what is called the posse comitatus act, there is exception for this situation. he have can put federal agents in here. it's a very, very difficult argument for democrats to make because you have an attack on a federal building. so i mean my goodness, the argument we're sending in federal agents because federal property is under attack and the

point is, you know, i was involved in cases myself as a federal prosecutor where buildings were vandalized, of course federal agents. the other point noting is that federal agents work with state and local police and law enforcement all the time, neil. so it is really a bit of a strained political narrative honestly. so the president has the authority and indeed the obligation if there are outbreaks of intense violence to take the measures i just outlined, neil. neil: you know, doug, if a mayor doesn't want troops or guardsmen or women in their respective city, cities as was seemingly the case in seattle and portland where they say it just, you know, exacerbates things, what do you do? they seem to claim, the portland mayor seems to be claiming this got worse because the troops came in but the troops only

recently came in. as i said this has been going on for weeks, far longer. what do you make of it? >> those are largely disingenuous arguments. from my lens the point is, i've been going to court for 35 years. once i said this is largely peaceful. the other said no, it is intense violence. the truth is a lit little bit in between. i thought the attorney general gave a fair characterization he said violent mobs are overtaking what might be a legitimate protest. that's fair, because it's a little bit of both, but to your question, neil, the mayors and local officials do not, do not control determination by the federal government that an emergency situation requires federal action. it is just that simple. so i mean, again you have legal and political. legally it is clear that the president has lots of tools at his disposal, his administration. politically, you get the arguments how the federal agents are making it worse. that is really nonsensal --

nonsensical argument honestly. neil: good catching up with you, doug burns, following back and forth. we should posit, you make arguments about troops making things worse, the again the troops only recently come into these cities. they were on fire and have been on fire for weeks prior. so we just want to put that in some factual perspective here are whether you support troops in in the repeck spif cities or not. we're looking at some largely platforms. they're largely not worth the paper they're printed on because they don't adhere to them. the democratic one is interesting because officially it does not require or endorse "medicare for all" which was a popular stance advocated by likes of bernie sanders and alexandria ocasio-cortez and others. there are some delegates, better than 300 strong, who are pretty ticked off about that. so much so they might withhold their votes if they don't get their "medicare for all" way.

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♪. neil: all right. bill barr is still testifying on capitol hill before the house judiciary committee. can we show that, melinda?

is that going on? let you know the administration takes great umbrage to the notion that troops are going in there. the attorney general says look around the country. state, local law enforcement. their job won't allow protesters to attack the courthouse in portland. that is not the case. our stormtroopers amounted to 29 marshalls in the courthouse, recently increased to 95 dhs, homeland security officers trying to protect the courthouse. we gradually increased our numbers. if the state would come in and protect the courthouse we wouldn't need to be there. this aggressive back and forth continues. we'll keep going with this, implications of all of this. i do want to go to kelly jane torrence, "new york post" editorial board member. first on the development back and forth what is the appropriate force. i have want to get your quick thoughts on that. that seems to be a, you know, a line in the sand between the two parties, republicans say it is fully justified. democrats are arguing no, it is

not. you're only making the situation worse. your thoughts? >> yeah. you know, someone tends to worry about government abuse of power, i can see where there is concern. but in this situation i don't think, it is undue use of force. you mentioned before the break, neil, portland has been on fire for weeks now. 61 days, i believe consecutive nights of unrest. it has gotten quite violent. police are not doing anything about it. as we saw, they have used power tools to try to break into the fence around this courthouse. they have used fireworks. this is not a peaceful protest. some of the people in portland of course are peacefully protesting but quite a number aren't. you know, you have to protect federal property, and the state and local government aren't doing it. so yeah, you want to be careful. you don't want too much use of

force. states do bristle when the feds come in they weren't really doing their job. somebody has got to stop this. again, this is a federal courthouse, that is being bridged. we saw seattle, portland actually declared it a riot late saturday night in. -- also declared a riot. that is the local government saying it has gotten that serious. so you got to be careful. i think what is going on in the cities, it really has to end. neil: you know, i've got an idea, i do want to touch on the fight within the democratic party. normally you and i cover the conventions where they have the party platform, most on the right or left tend to ignore it. it is like pie-in-the-sky type of goals. one thing that the party veered away from was this idea of "medicare for all" and that's, ticked off about 360 delegates who say they will not vote for that platform, maybe up the ante to make things difficult for the nominee if they don't change that. what are we to make of all of

this? >> it will be interesting to watch. the overwhelming majority of those 360 or so are bernie sanders supporters. he did back biden very quickly after withdrawing from the primary but people still wonder how those supporters if they're actually getting out to vote for joe biden. here is one thing that shows there could be a problem. if they couldn't get legalizing marijuana in the party platform they weren't going to get "medicare for all." that is one thing that failed as well. now this is something obviously that bernie sanders supporters, elizabeth warren, was another one in the debate but, there was that big moment at one of the early democratic debates where they were asked who supported "medicare for all" and getting rid of private insurance and only two of the candidates put up their hands and that liz warren and bill de blasio, mayor of new york. so it is not something that on the whole the mainstream of the

party supports but you have a lot of the young people, they're very enthusiastic and they're getting a lot more well-organized than they have been in the past. so you could get a fight over this. of course with the pandemic going on right now, it is certainly made health care a much bigger issue than it might have been. again this is something i don't think will play into donald trump's hands. he is trying to paint biden as, someone says he is centrist or moderate but will be hemmed in by his party and pushed more to the left. so a fight within the party on "medicare for all" certainly gives some credence to that sort of argument. neil: we'll watch it closely. kelly jane, great catching up with you as always, my friend, be well, healthy. kelly jane torrence. we're following developments in the market. any company with anything to do with a vaccine or treatment or any type of hope to deal or wrestle this virus is benefiting

but when i saw the headline that eastman kodak, the famous film company, that lost out of the digital, imagery game, that it was having a new life here because they have a 765 million-dollar government loan to help produce some generic drugs, everything changed. the stock is on fire and, eastman kodak is on fire as well. what is going on? after this

♪. neil: you know for most folks eastman kodak will be remembered as the company that surprisingly dodged a whole digital imagery wave, feeling at the time film was going to be here forever and this whole digital fuss was going nowhere. that was then. into dinosaur land it drifted.

word comes it sort of remade itself. that it was going to produce generic and related drugs, other high-tech type of things that made it a darling today, especially with reports of a 765 million-dollar government loan to keep it doing just that. edward lawrence on the phenomenon of all these other competing technologies right now a live and well. hey, edward. reporter: neil, kodak was actually pushed that way by a third party company saying hey, why don't we use kodak for our chemicals? that is how it started. there is hearing on the supply chain, they may be moving more of the critical supply chain on that front. international development finance corporation struck a deal with kodak to repurpose plants to make generic drugs. the company getting $765 million for more medicine in the u.s.

for variety of different illnesses. a source told me this is basically launching the change for kodak into kodak pharmaceuticals, using the coronavirus as a way to repurpose the company, help the u.s. and make money. white house economic advisor peter navarro breaking the news on fox business this morning, saying this is the first step to moving the medical supply chain back to the u.s. >> by the time this thing ramps up, 25% of the api for generics we need in the united states is going to be right at that facility. it is going to give the people of our country some assurance that when push comes to shove in pandemics like this, we're seeing what we're seeing right now,5 countries restricting sales of pharmaceuticals to us like face masks. reporter: ceo of kodak says this will reduce reliance on china and india for generic medicines this could be the first of many

changes. a knew report by goldman sachs, that select industries will do more onshoring. the report says a large number of companies will still use a global supply chain. but you will see more localization. what that means u.s. companies may turn to mexico for manufacturing as opposed to china. back to you. neil: edward, thank you very much. edward lawrence in washington following all of that. we're also following this new stimulus measure that republicans and democrats are working on. as we were indicating the two sides are far apart. for example, democrats are looking to spend well north of 3 trillion, 3 1/2 trillion dollars. republicans want to keep it down toe a lean and mean, one trillion dollars. art laffer joins us now. art, either number is eye-popping but come on top much $10 trillion of municipal bonds purchasess and corporate bonds

anything else it can scarf up. what do you make of all this. >> do you remember bill safire of "the new york times," he had these numbers, called them nago numbers, which he claim stood for my eyes glaze over. you look at trillions, all the numbers make no sense whatever. it is doing no good. putting a huge burden on us u.s. economy for years to come. 3 1/2 trillion, one trillion, as dirksen said, a trillion here, a trillion there, it adds up to real money, neil. [laughter]. i don't understand what these people are doing. what planet they're from. they make no sense to me. neil: i hear you. republicans are on board, art, with extending the jobless benefits. certainly not at the 600-dollar level but maybe $200 that has been kicked around when you get to the point of a mechanism in place, that will assure people are getting at least 70% of the income they had prior. but mainly to try to eventually

get them into the workforce. it looks like an uphill climb though. what do you think? >> well, as you know it is ridiculous. if you're going to do it, do it. but if not, pelosi getting all credit for it. she is the one wanting $600. the democrats will get all the credit. the republicans giving them some money, then lose the political battle totally. they have lost everything. there is no payroll tax waiver. there is no transparency in medical. there is no vouchers. there is no other schools there. i mean this is amazing the loss that is being suffered here. yet we're still spendingevery a trillion dollars. they're still negotiating as if they have a good bill. it is not a good bill, neil. it's a bad bill. the medical stuff is the only thing in there that is any good at all. that stuff is great but it is a little teeny, tiny thing. kodak spot, producing dangerous

out of camera site. that is amazing. neil: that blew me away. i have no idea. >> me neither. that is great though. neil: you worked and advised a lot of presidents, ronald reagan of course and then obviously donald trump. >> yes, sir. neil: i'm wondering, the reagan foundation was essentially saying look, we want you to stop using the likeness of ronald reagan in your fund-raising. the president bristled at that, ripped the organization and those behind it. i'm just wondering, you loved both presidents i'm sure. whose side are you on? >> well, i am clearly, i think trump is by far the best president around. he has done a great job up until the pandemic here. the bills, cares act are not good bills. they're spending money we don't have. it is not doing any good to the economy. if he wants to do good, he personally loved the payroll tax waiver, the medical transparency, did an executive

order on it. this puts it into legislative form. charter schools, vouchers that is all obviously there reagan never went alearning with the opposition side. never gave in. when you send mnuchin out there you lost before you began. mnuchin and mark meadows didn't get any proposal. i hope president vetos it take it to the voters. would you have a payroll tax waiver or these guys stuff? the president will win on this issue. i think that is the way to go. neil: art, you didn't answer my question, my friend. do you do, do you, do you support, listen to me! do you support, i'm kidding, do you support the reagan foundation saying do not raise money using of the reagan foundation? they told him to stop and desist your view? >> i don't know what the reagan foundation is. i don't know who the people are

there. i think trump should be able to raise money to run this campaign and win this race, period. i will support president trump in that regard, end of story. i don't know why the reagan foundation, i don't know who they are. it is not the reagan ranch, not for sure. it is not the reagan library either. i don't know which group it is but i personally support trump running for president. i was as close to reagan as many people were. i loved him as much as anyone. i want trump, i think he should be the next president as well. do i like this bill? absolutely not. do i like the cares act? there was some much it in there medical that was good, just a giveaway of money we don't have. it shouldn't be done. president trump knows that. and instructs his people not to do that. yet they go out and do it. i mean i think they're bullying the president. i hope he runs on vetoing it. neil: all right. there you go again, young man. >> does that answer your question? who is the reagan foundation? i don't know who they are?

can you tell me who they are? >> something to do with ronald reagan i guess. we'll see. >> well they used his name. it could be nancy reagan foundation. who knows. you know, everyone i know who likes ronald reagan, there were people who may not like trump, bottom line trump is as good a president we've had on the economy. he really is good. neil: i hear you. >> you can criticize him on other areas, not in economics except for the two bills, cares act and this one. what is next one called, a name like hello or hails? i don't know what the acronym is. they spend more time on the acronym than on the economics. neil: all right. heals. >> heals, that's right. neil: always a healing figure, art laffer on all of. that we'll have a lot more on this. including the nfl getting ready to suit up here. amid reports that now there could be a virus issue within major league baseball. could that be a problem?

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♪. neil: all right. what happens in baseball, could it happen to football? already the with miami marlins right now, sidelined by cases of coronavirus and the whole baseball season itself, maybe in jeopardy. we're only a few weeks away from the start of football. kristina partsinevelos has been following that and plans similarly in place to have a football season. kristina? reporter: exactly. you've got high contact sports and social distancing, words that don't really seem to go together but the nfl is welcoming 32 teams including teams from hot spot covid locations to start training today which is why i'm at the nfl headquarters here in midtown manhattan. the nfl is looking to go full state with 16 games per team,

but there are some players that are already trying to opt out of the 2020 season. up the latest with linebacker dante hightower. he just had a child with his wife two weeks ago. they said they're choosing health over playing the sport. you have another member now, patrick chung. that would be six players opting out of the 2020 season due to the coronavirus. they're able to opt out because of a agreement they signed between the players association and the league. like you said, neil, this comes at a time with covid outbreak over the weekend with the miami marlins. at the moment two games canceled on monday. two games canceled today. miami marlins are expected to play on wednesday. there are reports even more people tested positive. that brings 17 between the players and coaches. some are wondering if the covid

outbreak could affect the nfl season which hasn't begun yet. insiders tell fox business that not case. >> that is not going to happen. they will barrel their way through. even if they have to get guys from the ymca to play. they will do it. they will play a season. reporter: the nfl is doing all it can to stop players from mingling outside of their circles. they issued a memo to players saying if you catch the coronavirus through high-risk activities, high-risk activities going to indoor club, indoor concert, house party, you will be disciplined or fined. neil, on a positive note so far the nba has not had any positive coronavirus tests as of last week but we are paying close attention to how the major league baseball decides to go forward with the season amid a pandemic. that can directly impact the nfl, college football, all other sports. we'll keep an eye out for that. back to you.

neil: one team can't play. another team was scheduled to play them can't play and it spreads like wildfire. kristina, thank you very much for that and on that. we'll keep track of that. baseball season is on. they expect to keep eye on that, marlins cases notwithstanding. the dow is down 115 points. one of the issues here, we talk about it a lot is gold. gold has been a story in and of itself. it is popping again right now. it is closing in on $2,000 the ounce. goldman sachs putting out a report it sees this getting up to $2300 the ounce. not necessarily coming at the expense of stock but regardless of what happens to stocks. let's just say all that glitters today is in fact gold. see what i did there? the glitter, the gold. that is what you get on vacation, these things just pop.

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♪. neil: all right. gold continuing its upward trajectory. in case you're keeping track with better than 8-dollars advance to $1963 the ounce, gold has moved up about 30% this

year. silver is having a very good year. it has sort of like a spillover effect. silver in and out of highest prices it has seen in eight years. i don't know keith fitz-gerald if he is a gold bug but i know you're a crackerjack stock watcher. it does this on days stocks look good and days stocks look bad. what is going on? >> well you know it used to be -- i appreciate the crackerjack but i try very hard. gold is never been proven inflation hedge but a great hedge against crisis. with china, politics, the virus, that is what people are perceiving they need gold to hedge. i don't personally buy off on it. i would rather own technology and stocks likes apple that continue to plow ahead but you can't argue with it. neil: when you say you can't argue with it, a lot of folks are looking at this in a sign of

these volatile times to park some of your cash, to park so much so, goldman sachs released a report i believe this morning saying this could go up to $2300 the ounce. that might be a conservative figure. do you buy that? >> i think anything is possible at this point, neil. a lot of that speculative energy went to cannabis stocks, come to bitcoin, come back to gold, will propel it higher. the more scared and uncertain people get, logical move it gets much higher than that frankly, i think we have a lot of other things to worry about though. neil: we're focused so often on the dow and how it is doing, if not for some of the technology components like apple, for example, and microsoft, it wouldn't be having the year and the comeback it has through the whole virus phenomenon. i'm wondering if that, if that continues, particularly with the likes of amazon and apple and some of these big tech names that are disproportionately, you know, skewing these numbers.

what do you think? >> number one, i think that is a great question, i think it can continue. these are the companies that will rewrite our world. this is not a bet on iphones. it is not a bet on technology. it is a bet on digitizing your life. five years from now that is absolutely going to be essential, but what people don't realize, those stocks, that apple, microsofts, are most widely owned stocks in the world, which means every institution, every sovereign wealth fund, almost every investor of size will own, trade or hedge them. which means there are still more money chasing them. neil: you know, there is a plan in the works apparently by joe biden that would go after the big tech names that pay little if any taxes. amazon was chief among them. and, that he would demand at least a 15% minimum tax on these big names. what do you think of the fallout of that? >> well i think the fallout would be catastrophic for the stock market, number one.

his right intention, wrong effort. if he doesn't like these things. get rid of the loopholes. get rid of incentive to move capital offshore. get rid of holding companies. apple, microsoft, amazon, as much as nobody wants to admit it are legally paying minimum taxes they have to. you can't go after them after the fact and change rules. change the rules. then bring them to play. neil: all right. well-put. keith always good catching up with you. keith fitz-gerald on all of that. with the dow off 100 points right now. the i-tech issues keep racing along and bumps notwithstanding. we're focusing on something that con move the market after a stimulus. anywhere from 1 1/2 trillion to $3 million that democrats want. leon panetta on that and a lot more after this. ♪ this is decision tech.

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♪ ♪ neil: it is 1 p.m. eastern time. do you think where your tax money is? well, at least a trillion dollars of it will be going to stimulus if republicans have their way, and that's limited. at least $3.5 trillion if democrats have their way, and that is to increase it. leon panetta, of course, former defense secretary, former chief of staff. his views on what democrats want versus what we palins want. we've also got the planet

fitness ceo here, and you're welcome, america. [laughter] his views on what's happening in new jersey where a lot of these gym owners are being hauled off to jail for not complying with state closure rules. we're also getting the read in tennessee on schools and whether they open or delay or whether they're a combination therein with the tennessee education commissioner. and then virgin galactic, a whole new look inside that space capsule meant for you, not just astronauts. we're all over that. out of this world second hour coming up. you probably notice what i did there, out of this world -- [laughter] okay, fine. grady trimble's here, first off, with what's happening on capitol hill right now. the attorney general of the united states, bill barr, an aggressive back and forth on whether the administration is pushing troops or guards or you name it too much to, you know, ine cite violence. the mayors of portland and seattle say is that's the

administration's goal. the administration's response has been we're trying to keep the peace and protect people, and if you mayors cannot do it, we will do it. grady trimble following these fast-moving developments and escalating violence across the country in chicago. hey, grady. >> reporter: hey, neil. here in chicago murders were up 73% the week of july 13th this year compared to the same week last year. year to date murders are up 51% in the city. there was a shooting last week that left 15 people injured in a single incident at a funeral home. this video shows those people scrambling for their lives. that shooting believed to be gang-related, and that is the kind of crime the doj is sending federal agents into chicago to deal with. the president has sent members of the fbi, dea, atf and other agencies will work in an investigative capacity. attorney general barr, as you mentioned, appearing before the house judiciary committee right now. congressman jerry nadler

accusing him of dispatching those federal agents to help with the president's reelection. >> there is serious violent crime in these cities. these police departments and mayors have been asking us for help. >> the president wants footage for his campaign ads, and you appear to be serving it up to him as ordered. >> we are on the defense, we're not out looking for trouble. and if the state and the city would provide the law enforcement services that other jurisdictions do, we would have no need to have additional marshals. >> reporter: the attorney general there referring to the courthouse in portland where there are also federal agents as demonstrators clash with those federal forces. the mayors of several cities including portland, washington, d.c. and here in chicago sending a letter to congressional leaders yesterday saying this must stop. the administration's egregious use of federal force on cities against the objection of local

authorities should never happen. the mayor here in chicago has expressed that she believes the police department can handle this spike in crime and get it under control. the police department just yesterday announcing the creation of two new units, one to deal with violent crime hot spots, the other to deal with protests. neil? neil: grady trimble, thank you very much, grady, in chicago. let's go to washington, d.c. right now. i want to go to blake burman, he's been following the talks on another round of stimulus. it's a given we're going to see it, the difference in how much they want to commit to it. so i guess the range is anywhere from $1-3.5 trillion? what are you hearing? >> reporter: the democrats have pushed for $3 trillion that they've already passed. there's only, oh, $2 trillion in between that -- [laughter] numbers, neil, that have been floated to me around these parts suggest that maybe they'll come somewhere in the middle between that. but, again, that is a negotiation, and that is what is

going to be taking place here in washington over the upcoming days and potentially into weeks. i can tell you that later this afternoon the top negotiators for the white house, steve mnuchin, mark meadows, chief of staff, going to be meeting with nancy pelosi and chuck schumer because republicans are have put forth their plan, now they've got to put something together, democrats and republicans have to figure out something that can pass both the house and the senate. so we'll be watching that throughout the day. we're also keeping our eye on, neil, on this back and forth between the president and what is going on with big pharma because you'll remember last friday the president had said there would be a meeting here at the white house today the with pharmaceutical leaders. there's no meeting on the schedule. i am told when the president made that announcement last week, there was nothing formalized at that point, and the white house tells me they are being more than accommodating to try to make this happen but that no future meeting is scheduled. the president took to twitter today, by the way, to warn against what he contends are ads

coming from big pharma. big pharma's taking television ads, trying to make the case that i am raising prescription drug price on seniors. the ad is a lie. what i have done will lead to a 50% reduction in prices at least. a spokesman telling the me about the meeting saying, quote: right now our industry's sole focus is figuring out a way to beat covid-19. the president's plan to import policies from socialized health care systems from abroad is diverting our focus away from those life-saving efforts. pfizer reported its earnings earlier this morning, and the ceo said on the company call that what the president is trying to do is distract, or what he's doing is distracting from trying to combat covid-19. listen here. >> i want to speak to the eckingstive orders -- executive orders the president signed on friday. overall, i am disappointed by these executive orders.

they pose enormous destruction at a time where the industry needs to be completely focused on developing a potential covid-19 vaccine or treatment. >> reporter: back here at the white house, neil, by the way, 5:00 later today we will hear from the president. so we'll get a chance to ask him his thoughts on that and stimulus. big pharma, by the way, you might remember, neil,ing october 3rd, that video right there, the president even suggested at one point that big pharma might have been behind some of the efforts regarding impeachment. so the president certainly has some of his suspicions as it relates to big pharma, seeing some of that play out here today in washington. a lot going on, and we should hear from the president later this afternoon. neil? neil: where did he get that? i remember that, now that you bring it up. >> reporter: yeah. neil: this was no proof of that, right? i mean, where did that start? >> reporter: no proof. he said, and i'll quote, we're lowering the cost of prescription drugs, you think

that's easy? they come at you from all different sides. i wouldn't be surprised -- this was the president -- if the hoax didn't come from some of the people that we're taking on. they're very powerful, they spend a lot of money. that was the president back in october. there was no proof that big pharma was behind the impeachment push or the hoax as the president described it. but fast forward now some nine, ten months, and clearly he's got his suspicions and his sights set on big pharma once again. neil: all right. 5 p.m. eastern time today. thank you, my friend, good seeing you. >> reporter: yep. you too. neil: i want to go to leon panetta, former chief of staff, defense secretary, you name it. leon, always good to have you, and i'm just wondering this election year is really shaping up to be a statement on the president's handling of the virus itself. and stimulus goes along with

that. republicans, as you know, are looking for more stimulus, just not going much past a trillion dollars. democrats 3, $3.5 trillion. eventually we have to pay for this. a are you worried about how we do that? >> well, we're at a time when, frankly, because of the coronavirus and its impact on our economy, i think there's a recognition by economists and others that we're going to have to provide some help to the country, to our economy, to the unemployed, to people who are suffering as a result of the coronavirus. so, you know, we've already done about $3.5 trillion. i suspect we'll do another few trillion dollars. it's understandable. i think ultimately this country will have to pay for it, but that's going to come in the next 5-10 years. i do hope that in this package there's a focus on how we get back to disciplining the budget.

but for now i think the main issue is what should be in the stimulus plan and have both the house and senate compromise in order to get a stimulus plan adoptedded for the country. adopted for the country. neil: you know, leon, republicans are saying that the $600-a-week unemployment federal benefit disincentivizes people to return to work. they want to trim that down or cut it out altogether. what do you think? >> well, i'm concerned, obviously, about the impact of the coronavirus, that it's having on the unemployed. we're seeing more jobs being lost as a result of the wave we've just been through. i think the unemployed, obviously, do need to have assistance. we're providing it for businesses, we're providing it for others, for schools. i think it's important to try to support the unemployed.

and i think, look, most of the people that i know are unemployed because of the coronavirus. and they're concerned about going back to work when there is a coronavirus present. so there's some legitimate reasons here why people are not getting back to work. most of the americans i know want to get back to work, and so i do think that we shouldn't penalize them when a a package is being developed to basically assist all the other sectors of our economy. so that ought to be part, i think, of the, hopefully, the compromise that both the house and senate can work out. neil: you know, there's been a dust-up over the democratic platform, and we've learned that it does not include support for medicare for all. thattage a tated many -- that

agitated many progressives in the party that are arguing 360 delegates strong that they cannot support that, first by voting down the platform and, secondly, maybe taking it out on joe biden. what do you think of that? >> well -- [laughter] i haven't been following the platform debate, but if what you say is true, then it reflects joe biden's position with regards to medicare for all. and i think that's, that's a position he's made clear throughout the campaign. we all know the concerns about medicare for all and the costs that would be associated with a program like that. so i think, i i think in the end the democrats have a candidate, joe biden. joe biden has his position, and i think the democrats will unify behind that position. neil: you know, leon, you were famous for coming in and sort of, you know, righting the bill

clinton wayward ship for a while when it looked like his administration was unraveling here. you moderated its course and its approach. many are concerned that joe biden is a hostage to extreme liberal elements of the party and that this, you know, reare e fusal to -- refusal to push medicare for all notwithstanding, does that worry you, the fact that he has not spoken out more against things like these protests going on, criticizing the president for utilizing or pushing national guardsmen or other personnel to sort of calm things down, that he is looking every bit like the far-left leader the president says he will be? >> well, neil, i've known joe biden for over 40 years, and the joe biden i know is what you see. he's somebody who has largely worked as a moderate, tried to

compromise on both sides in order to get things done. he's somebody who -- neil: no, i know that same guy, leon. i don't remember him like you do, but this guy isn't that guy, and i'm just wondering who's the real joe biden? >> well, yeah. i mean, i, i think we know politics, and we know that, obviously, joe biden in order to pull the democrats together has to make sure that, you know, he's got people on the left, the center and the right that are part of that coalition. but ultimately, i think he also recognizes if he's going to win an election, he's got to appeal to middle america. in order to win those key states in the north, he's got to appeal to workers and to jobs and to middle america. so he knows what needs to be done, ultimately are, in order to win an election. neil: you know, a lot of people say he's playing it safe. it's easy to say that when you've got a big lead and you

don't want to mess with it, i get that. but he's almost playing it too safe. i had michael dukakis here, the former massachusetts governor, '88 democratic presidential nominee who remembers well his 20-point-plus lead in the polls and that all evaporated. his message, leon, don't make the same mistake i did, joe. what do you think of that? >> well, look, you know, right now i think the main tactic is to met the president self-destruct and -- to let the president self-destruct and, actually, that's worked pretty well so far. but it's not a tactic that you should just rely on because i think this thing can change very quickly. and so the result is that i think joe has to continue to present positions to the country. he's got to provide a vision as to where he wants to take the united states of america, and i think he's, you know, he's been doing some of that, and it's been an important step to try to

make sure that it isn't a defensive ball game, but it's an offensive ball game. in the end, i think if you're running for president you have to be aggressive, and you have to present a clear idea to the american people of the kind of country that you want to have. i think, frankly, one of the things i keep waiting for the president to do is to present some kind of vision about where he wants to go in a second term. and so far he hasn't done that. so i think right now joe has an advantage in the way he's handling this campaign, but he can't just sit back and hope that that's going to be enough. he's really got to work at it. neil: do you think the party is busy trying to hide him from people? sometimes he comes out, you know, he makes a brief speech and then goes back to his compound, whatever, you know? are they hiding him from people? >> well, neil, it's a crazy time with this coronavirus.

you know, the president would love to be doing rallies, he can't dorallys. the president would -- do doalinglies. the president's not going to be doing a convention. the president pops up every once in a while to do a few words, and he goes back in the hole. but, you know, both these candidates are living at a strange time and have to deal with it. but ultimately, the public is going to want to hear from them. they're going to have to come forward either in debates or during this campaign and be very open about where they stand on the key issues facing all americans. and believe me, the american people are smart enough to be able to judge whether or not someone is really serious about trying to make this country better for the future or whether they're just talking about it. neil: i think the real newsworthy element of this interview, leon, was that you've known joe biden for 40-plus years. i didn't know you were so old, to that reminder was very, very

humbling. [laughter] seriously, my friend, thank you very, very much. i think i've known you a couple of decades, young man. thank you very much. leon pa panetta, following all those developments. we'll see the political fallout. by the way, when i get along in age here and reflect the same thing, there's no wisdom in that. we have a lot more coming up including what's going on at the corner of wall and broad. everyone's waiting to find out the details of this stimulus, if and when it comes to pass. we do know that some stimulus is coming, what we don't know is how much it will cost. suffice it to say, we don't have the money for it. but that doesn't seem to matter. ♪ ♪ as a caricature artist,

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the momentum has slowed a tad, but till in the middle of a virus if you were thinking we would be seeing any uptick, you would be shocked. not shocked now. all right, some other developments we're following closely right now is what happened, of course, in new jersey where those who fight what's been happening on closing gyms and the rest end up getting carted off by authorities. that happened in new jersey. one of them speaking with our own tucker carlson. >> my partner and i had had the doors removed since thursday, and we had not left the building since. we had two weeks worth of clothing, and we were prepared to stay inside at all costs, but we did agree we would go peacefully in law enforcement came. i'm not afraid of parents, and no american should be. neil: all right, we have the planet fitness ceo. very good to have you back. these were not planet fitness facilities here, but you can hear in that, you know, young

man's sort of lament that it's very tough when the one thing that could keep people in good shape and deal with the crisis, a big health crisis at that, they're not allowed to do and folks aren't allowed to do it either. what do you make of it? >> it's really a shame, neil. you look at it, a lot of the issues we we see with people that are suffering from covid-19 the most have previous health conditions, diabetes, heart disease, people who are overweight or obese. and 70% of the u.s., adults are overweight or obese, to shut gyms down does seem counterproductive to me. we're really a whole piece of the health care delivery system, and we have a part to play in helping keep people healthy. neil: i'm wondering what measures do you take to make sure, you know, you're up to snuff? i know it varies by state, you know? there were requirements, some states that aren't even allowing gyms open, but what kind of measures do you take that kind

of can virus shield you? >> sure. so at planet we've always taken cleanliness as extremely important, and now even more so so. we've got sanitization stations throughout the entire facility with solution that's an approved agent to kill the virus, paper towels readily available. our staff all have ppe that we supply for them, we have social distancing as far as checking into the gym, basically touchless checking, you scan yourself in. we even have on our app a crowd meter, we call it, you open the app before you leave the house, you can see how busy i the club is so if you don't want the crowds, you can change your workout schedule around that. we're taking it very seriously, and we announced on august 1st we're going to implement masks are mandatory in all facilities for all members going forward for the time being until we can really get, for the world to help get our minds around the virus and the spread of the virus, hopefully bring this down and tamper it down.

neil: obviously, you have all sorts of equipment, that tends to be a breeding ground -- not all the time, but that is the fear among the many. doctors that that is a vulnerable area in gyms. what to you do about that? >> yeah. i mean, you hear that, but there's been no proof of that. i mean, just announced a 5.5 million -- [inaudible] since they were allowed to reopen in california, they made them shut back down, 5.5 million workouts, in .002% of those members reported to have covid virus. not contracted in the facility, but just had it. so it's two thousandths of a percent. you're not going to work out if you're not feeling well either, generally. neil: that's true. and if you can't work out and you can't also, you know, be going anywhere else, your options are limited. chris, thank you very much. planet fitness ceo, taking a number of measures.

measures, by the way, that were not and are not required, but he's taking those extra measures out of an abundance of caution here. but, again, you're at the mercy of some of the states like new mexico that say, no, it's -- new jersey, that say, no, it's not happening. we have a lot more on the latest with the stimulus measure, we're told that steve mnuchin is joining talks at a luncheon right now, we're also told mark meadows, the chief of staff, along with the treasury secretary will be meeting with nancy employees i and chuck schumer to discuss at least the broad outlight lines of a plan -- outlines of a plan. we are expecting some progress on that front. we'll see exactly what it is. stay with us.

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>> it's a bug moment because, although the event may be virtual, it's significant in starting to open space to everyone is very real. it is a cabin which has been designed specifically to allow

thousands of people to achieve their dreams of space flight safely and to maximize every aspect of that fabulous journey. neil: all right. all these billionaires and the quest to get to space. and, in fact, in virgin galactic's case here, looking for regular folks, too, if they've got the money to hop in a capsule and have at it right now. and it's a pretty attractive capsule right now. the plans are out there, the video is out there. jackie deangelis with more on what we're looking at. hey, jackie. >> reporter: this was really cool to watch online, and there are so many people, including myself, who never thought that they would see the opportunity for a regular person, not an astronaut, to fly to space. now, as you mentioned ld, it's got a heavy price tag. we're talking about $250,000 roughly for a ticket the space, but it is happening, and virgin galactic doing it. so in this online event today, richard branson talks about the new cabin design and gave us

some of these pictures. the three takeaways were that you could move inside the cabin, you could feel that experience of weightlessness, getting out of your seat once, of course, you were up in orbit. and then the you have full views to look at the earth. you could even move up and talk to the pilots, it would be two pilots and six passengers. really, really remarkable when you see those photos there. now, we don't know exactly when this is going to launch for real, but the end of 2018 and early 2019 virgin made two piloted test flights over the mojave desert in california, then it moves to space port america in new mexico where it began the test flights again. the most recent one was last month. after takeoff, the spaceship can go to an altitude of about 50,000 feet. so to give you a sense, a commercial airplane only goes to 30,000 feet, and people don't seem to be scared here because they've got more than 600 reservations on the books already.

the stock, well, i mean, it's rocketed, pardon the pun here, up almost 150% since march, so many people are excited about this. competitors in space, well, of course, you have got mr. musk and spacex with the crew dragon space capsule. the company is planning for passenger flights to space that could be as long as five days and could launch as early as late 2021. so this is really around the corner. neil: wow. you know, that's pretty cool. i would do that. only if charlie gasparino -- >> if you gave me 250 grand, neil, i would do it. neil: done. thank you very much, jackie. there are a lot of viewers who would happily foot the bill to send charlie into space. [laughter] he joins us right now. how are you, my e friend? >> how you doing? i haven't seen you in a while. neil: yeah, well, i've been in space. [laughter] what have you got cooking today? >> you know, the vision of me

and you in space suits is very weird, don't you think? [laughter] neil: we're not even going there. it's a family show. [laughter] >> i know. what would you and i do in space for a week, you know? talk about movies? you would do your dr. evil -- neil: you're a galactic guy. yes, i would -- [laughter] now, i know you're pursuing a lot, but one has to do with earningsing. so few companies have offered up guidance, but you suspect there might be more going on here. >> keep your, keep this in your head, neil, because i think this word is coming back. a short seller brought it to my attention, apparently market watch -- i i think the woman's name is emily barry reported it, has done really good work on covid-related accounting scams or, you know, shenanigans is the best way to put it. they're not quite scams. and what both have spoken about

earnings before interest, taxes, deductions, appreciation and covid. apparently, some companies are out there adjusting their earnings to say, well, if it wasn't for covid, we'd earn x instead of y x. they're put -- y, and they're putting it out there to put a little lipstick on the proverbial earnings report to make it look better when, in fact, you know, no one knows how long covid's going to last for. thus, just by saying this is a one-time charge probably not, is probably not kosher. what we do know is this, and i'm getting this from securities lawyers that represent firms that the sec, the securities and exchange commission, wall street's top cop, has now launched several -- a bunch of, you would say a handful of investigations into companies using covid as a way to either pretty up earnings, get necessary deductions because of covid, essentially to manipulate, allegedly manipulate -- they're not, they

didn't do it until they've been convicted, we should point out -- allegedly e manipulate these earnings. whether these cases ever see the light of day, i can't tell you. i have a lot of sources who are securities lawyers, there are investigations. the se e c is bowing enforce -- vowing enforcement cases against these companies. so we should see some, you know, some action. and ill think we see it soon or rather than later, because that's essentially what the sec has done. who's responsible for the sec looking at this? it's usually the press or short sellers, so i give -- my hat tip is given to the woman at market watch who wrote a very exe especially thive story about this, about how companies are using covid to tweak their earnings and to change them a bit. jim chano, the legendary short seller, has been on the warpath about this as well. so the se e c generally picks up from this. now, whether it's going to be a massive crackdown, the sec

chairman due to go to the u.s. attorney's office for the southern district. that usually puts a crimp in some of the cases. so i don't see, you know, this being, you know, anything like the insider trading crackdown that occurred during the obama years with the u.s. attorneys for the southern district and the sec involved as well. but what i understand is you're likely to see some cases. it's going to be done in a way to put a marker in the ground to tell people don't do this stuff, and the simple question this, neil: if you think covid is a temporary phenomenon, well, then you could put it in your calculus. if you don't and the evidence is it's going the last a while, you probably shouldn't because it's going to have a longer-term impact on earnings, therefore, it should be disclosed as such. the sec, from what i understand, is working on cases, they want to bring a few. but, again, this is not the most aggressive sec i've ever seen,

and my guess is they put a couple markers in the ground, say don't do this and, you know, hopefully, corporate america complies. beam me up, scotty, back to you. neil: thank you, my e friend, very much. good seeing you. charlie gasparino. we are following the dow, about a 72-point decline. gold is racing along in and out of all-time highs here, nine-year highs depending on the situation. silver also advancing along here. we're following a number of other developments including all the schools and various states and school systems who have to decide what they're going to do about this fall, in-person or virtual? in tennessee it gets a little more nuanced than that. the state education commissioner is coming up. ♪ ♪

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neil: you know, forget for a second whether there is going to be in-person or virtual classes this fall. it depends on the states, all of them -- better than 20 of them right now that are either looking at forgoing all virtual or a combination of virtual and in-person, but then here's a separate issue. what if kids or teachers or administrators get the covid virus itself? penny schwin is yes aring with that at the -- wrestling with that at the tennessee department of education, the commissioner. thank you for taking the time. what do you do in that event? >> yeah. so here in tennessee we released guidance in partnership with the department of health to try to get to the small screen size. so if we have an active case and we suspect there will be active cases in schools, we figure out whether that's at the classroom, the hallway or the school level so we can figure out who needs

to be quarantined. neil: or what are the plans for the fall as things stand now? >> yeah. so so here in tennessee we've got 147 districts, 145 of them have current plans to open in person with a remote option. we feel strongly that families need to be empowered to make the choices that are best for themselves can and their children. they can choose whether they want to go remote or in person, but we also understand lots of folks are got to get back to work, so we want to make sure we're doing everything we can to provide schools with what they need to keep people safe and healthy while children and staff are in the building. neil: you know, it's almost inevitable, commissioner, you know, that virus cases will spike at least a little bit when people return to school. and i'm wondering what is or what authorities like yourself have surmised is an acceptable spike in cases. >> yeah, that's a great question, and it's so difficult because in different communities

you have nursing homes or prisons or areas where we've seen greater concentrations x. so what we're trying to do is offer every district, in partnership with the department of health and local health officials, the ability to walk through their own specific cases and say it is safe to open up if you provide the proper ppe and equipment, disinfecting materials that are needed to keep schools and classrooms clean, make sure folks have what they need to keep themselves and others protected. we have a series of documents that we're providing to school districts to make those tough decisions and insuring that a families have the communication necessary. there's a new family web site we've got up so people can know what's going on in their community and make really smart choices for themselves. neil: just to be clear, commissioner, as things start now, it will be in-person classes. that's what's on tap for the fall, right? >> yep. in tennessee 145 of 147 districts have current plans to open up with an in-person option. two of our biggest metros are going to start remotely and

reevaluate shortly after labor day. neil: all right. we'll watch it very, very closely. pennny schwin the tennessee department of education commissioner, so we'll follow that very, very closely. in the meantime, we're talking about kids going off to school, even, you know, big kids for colleges and all the rest. but it is still summertime, so a lot of people are still crunching possibilities of going out and traveling. the question is where? especially when states like new jersey are now saying they have 34 states on their list that would have to quarantine if you came from any one of those 34. now what do you do? after this. ♪ ♪ bad the storm gets, better days follow. for over 168 years, massmutual has been helping people weather storms. let us help you prepare a plan to protect your family, your loved ones, and your future. find a financial professional at massmutual.com.

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neil: you know, it was not too long ao that dairy farmers were in a world of hurt, too much supply of milk, unable to sell it as they were hurting, a lot of farms were looking at going out of business. that was then, a whole different change right now. we've got jeff flock focusing on what happened. how milk demand all of a sudden reverse ared itself. what's going on, my friend? >> reporter: complicated story, neil. i love those complicated stories. that's a holstein, by the way, staring me down on this dairy

farm. yes, remember -- brown swiss, by the way. you don't see a lot of those. remember those pictures? yeah. milk actually being dumped down the drain because demand, as a result of covid, had just completely drieded up, pardon the pun, and, you know, what happened was now it's all come back. the demand has come back. take a look at the pice right now of -- price right of milk futures at the cme, that's class 3 -- very complicated the way this is priced. chris robinson, trader at the cme, what happened? now it's at almost all-time highs. >> that's the thing, there's four classes of milk. the one place where people can participate or hedge class 3, and if you look at that chart, this is the highest we've been in 30 years. we haven't been this high since 2014. >> reporter: but this doesn't mean the producers are making a ton of money. i've got three -- well, this is

third and fourth generations kline dairy farm. doug layman, indiana producers, dairy producers, these guys aren't benefiting from that. why? >> it boils down to that four classes of milk, and, you know, the class 3 is the cheese milk. it's very high. but the others did not go up -- >> reporter: buying cheese to put in the packs for, you know, the people that need food. >> demand was really being driven, and so the exceed took off. >> reporter: -- cheese took off reporter: i want to give the last word to picture of dairy in this cub, it is -- in this country. it is a complicated system. you have been in this business for how many years? go well, our family's been in it for 103 years. >> reporter: and this next generation, this is your daughter and your son. why be in this business when you see these wild price swings and sometimes you can't even make money? >> yeah, it's tough. but when you grow up doing it, you know, you're out here from,

you know, handle a pitchfork, it gets in your blood, and it's something i you've got to learn to deal with. it's kind of a challenge in a way, but every hurdle that we've crossed to get where we are today just makes us that much more resilient for, you know -- >> reporter: last word, chris. futures, prices? where's it going? milk? >> we see stable prices at the store, but what about the futures? >> we'll have to wait and see, right? that's why we come to work every day. it's nice to see prices at record highs if you're a producer. it's giving people a chance to take advantage of it. it's not a perfect world, but i'd much rather see prices at 30-year highs than 30-year lows. >> reporter: good last thought. great to be out on a farm, neil, as always. boots get a little dirty, but it's all worth it. neil: you know, i'm just curious, i don't want to throw you a curveball, but i notice now that wal-mart and kroger are getting into bottling their own milk, right?

and i'm wondering -- [inaudible conversations] making headway. what happened? >> reporter: kroger and wal-mart bottling milk now. this is important to you. you like that idea. >> well, you know, i always said if wal-mart's coming, we're glad to have them in indiana. it's a great thing, and, you know, it's the -- it's business, and so we've got to learn to adapt. it's going to help them in the long run. >> reporter: yeah. they think it's a positive. a lot of people are worried about it but, generally, it's thought of as a positive. neil: want the thank you, thank them. they really are the salt of the earth. or the milk of the earth, whatever. but much appreciated and all their hard work. thank you very much. we've got a lot more coming up here. let's peek at the dow, down about 47 points. technology stocks still doing well, gold is doing well, silver is doing well. again, we are told right now that republicans are in luncheon

talks to discuss their own stimulus plan, and if later today democratic leaders, republican leaders, you know, get together to talk about how they sort of meld those two plans. because they're wildlity very event not only in -- divergent not only in price. stay with us. ♪ ♪ i see best-in-class platforms and education. i see award-winning service, and a trade desk full of experts, available to answer your toughest questions. and i see it with zero commissions on online trades. i like what you're seeing. it's beautiful, isn't it? yeah. td ameritrade now offers zero commissions on online trades. ♪ . . .

♪. neil: you know, i know a lot of you missed me when i as away,

the proof is in the emails, including this one from clyde, who writes, this guy subbing for me, charles payne, he has class and brains, something that is alien to you. he also is upbeat and you are a depressing moron. that was mrs. charles payne who wrote that. to you, my friend, thank you. charles: [laughter] i starting to use one of those fake accounts, neil. neil: so mean. charles: i have a big family. i'm happy your back. great to see you. good afternoon, everyone. i'm charles payne. this is making "money." right now, stocks are sort of drifting. investors digesting a mix of earnings reports. most companies beat but you had several high-profile names missed, there is aura of caution, not panic, investors are waiting for tomorrow, you have the fomc meeting wrapping up. you have the four big tech companies,