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tv   Cavuto Coast to Coast  FOX Business  September 24, 2020 12:00pm-2:01pm EDT

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the dow. couple hundred points it was at one stage. then it rebounded. then it went down again. and now we're back up! 90 points. how about that? that is how we're closing out this particular program. my time is up. so neil, it's yours. neil: all right, thank you my friend. we're following all those developments at the corner of wall and broad. we have an update right now but it's a push and pull of forces of good lifting up stocks, of those, worrisome, maybe bad, if you're long the market you don't want to see prices go down. some of the bigger developments got us into positive territory, this optimism among two big drug manufacturers yes they could have something out by october. it is not that black and white. we'll get into this in a second. we have the news that target will hire 130,000 holiday workers. that more than wipes out concerns holiday celebrations could be a bit of a damper across the country.
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people will choose shopping online, if they do any shopping at all. obviously target is ready. bracing itself for what could be big crowds. they see something a lot of economists, for example, do not. we're keeping a close eye on that. push, pull, obviously on the jobs front. you heard about claims, still below 900,000. they did hit week over week. one of the things barometer of continuing claims, they fell by 167,000 to bring us to about 12.6 million. surprisingly good news on new home sales, jumped 4.%, to 14 year high. those are things are sort of whipsawing markets. we're following the law and order issue very, very closely. again, keeping an eye on louisville and talks of further protests across the country over that breonna taylor case and a grand jury not personally faulting any of the officers for her direct killing although one
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for sloppy behavior. we'll get into that. because it led to protests in the likes of atlanta, new york city, a host of other places. and more on governor newsom's move in california to eventually ban the sale of all gasoline powered cars within 15 years. is that doable? many argue that no, it's not and it would be a big mistake if he pushes that. we're all over that. meanwhile edward lawrence is following news out of moderna, pfizer, that could lift hopes again of getting a vaccine out. there is a lot of back and forth on this, but edward, what are you hearing? reporter: glad to be on the good side you talk about the good forces pulling the market there. we're getting more precise timeline that the administration believes we'll have a vaccine. health and human services secretary alex aid sar spoke with "mornings with maria," spoke specifically pfizer and moderna could have update by
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october to submit for approval. >> one would go to them out of independent data safety monitoring board. they would determine if it was sufficient to submit for application. reporter: azar went on to say the end of december the u.s. could have as many as 100 million doses of approved vaccine. the list of who is most vulnerable and who needs the vaccine first around azar says in january. makers of vaccine will make hundreds much millions of doses as vaccinations continue. according to the hhs secretary there would be enough doses for every american who wants one in march and april. right now hundreds much millions of doses sit in a warehouse waiting for fda approval. the ceo of astrazeneca says the vaccine will be safe and effective. he pointed to the stoppage of the trial after one patient in the uk had a medical issue. >> first of all i should say stopping a trial in a vaccine program is not uncommon. it is not very common but it
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happens but if you place safety at the center of everything you do of course you're going to have to stop and look at events and that's what we did. reporter: their phase three trial started again in the uk but has not started in the u.s. that could affect their timeline here. as this moves forward the next round of stimulus, the covid relief package seems at a standstill, less and less likely it is going to happen before an election. the treasury secretary this morning testifying that he spoke 15 to 20 times with the house speaker about the cr, the continuing resolution but not about the stimulus relief. the house speaker says she hopes soon to sit down but giving no timetable for that to actually happen. back to you. neil: edward lawrence, thank you very, very much, my friend. why do you think mitch mcconnell today made the statement that the winner of the november 3rd will be inaugurated on 20th? maybe because yesterday the president said this. take a look.
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president trump: we'll have to see what happens. i've been complaining very strongly about the ballots and ballots are a disaster. get rid of the ballots you will have a very peaceful, there won't be a transfer frankly. there will be continuation. neil: all right. but do remember what hillary clinton was saying back in august on this same subject. take a look. >> joe biden should not concede under any circumstances because i think this is going to drag out and eventually i do believe he will win if we don't give an inch. neil: all right. so the back and forth as to what we'll selection night if there is delate in the results, the president saying you really can't argue against the possibility there will be protests over that, beginning with his own if it doesn't look his way. mitt romney by the way among republicans said such comments are unthinkable and unreasonable
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but let's get the read from eat than berman liberal commentator, radio show host as well. liz peek. i know the reaction it got, four years ago a lot of people thought then candidate donald trump wouldn't abide by the election proresults, protest them, constitutional crisis t was just the opposite to was democrats who staged protests and rallies many republicans argue gave them living hell in the four years since, who is more offensive here? >> there is critical difference between what secretary clinton said a couple months ago that you just played, when you say hey we need to see what the results really are, versus a president take active measures while in office, telling people to vote twice, which he has done repeatedly now, which is completely illegal. you can only vote once, using one form, either mail-in or vote in person, active measures to create chaos around the idea of whether or not you can trust the
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vote. lying because there is no basis about the validity of mail-in ballots. keep in mind, neil, it was just announced today in north carolina there has been an 11 fold increase in requests for mail-in ballots. we're in the middle of pandemic right now. so for the president to sit there and openly question whether or not we can even trust the ballots is fundamentally different than saying we need to -- neil: ethan, if hillary clinton is already advising, if hillary clinton already advising joe biden don't concede, i think maybe what she is saying, you have to count all the mail-in ballots, get benefit of the doubt but she is more or less saying fight, fight, don't concede anything no matter what is looks like on election fight. that is the only distinction i find. liz peek, reminds me of a issue election night, where a lot of trump supporters will vote election day. their ballots will presume counted immediately. a distinct election night,
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donald trump is winning maybe by a lot, who knows. the mail-in ballots are in, no network worth its salt is going to commit to declaring a victor in that environment and does the president' comments then sort of breed cynicism about the results? what do you think? >> what is really breeds, neil, is just a whole lot of excitement on the left. i actually think donald trump makes these comments sometimes to get this pavlovian response from the left where they go completely crazy. their hair catches on fire. i don't really think anyone in this country should seriously take the idea that we're not going to have a peaceful transfer of power. we've done it for 200 plus years. yes, this time is different because we have a whole lot of confusion about these mail-in ballots. my view -- neil: should the president, he is the president of the united states, liz. shouldn't he watch language like that? if you're the leader of the free world. >> of course. neil: leader of this country,
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not unabashedly saying there will be a peaceful transition as since 1792, every four years, happens, peaceful transfer. there is ill will and lot of agita back and forth but the fact of the matter it is honored and quadrennial right and consistent you know, icon of our system where it has been honored by everybody? >> yes. i agree with that 100%. and i would not, i wish that donald trump wouldn't say things like this. obviously what he is trying to call attention to, neil, a awful lot of maneuvering, finagling of rules, three states have passed where they have now extended the deadline for when ballots can be counted. plus you had the supreme court of pennsylvania recently rule that so-called naked ballots where you don't have the protective inner lining can be rejected or counted, which could be as many as 100,000 votes in a state that trump won by only 44,000. there is an awful lot of things
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going on including by the way, democrats inserting into the heroes act which didn't pass a rule saying that state rules on voter i.d. should be tossed. you have to just sort of stand back, wait a minute what are democrats really trying to do? are they really trying it delegitimatize this election? some of elections and rule changes i think would be viewed as doing exactly that. that is what hilly clinton trying to do. she is trying to delegitimize any win by donald trump. both sides are reprehensible on this. we'll have a election possibly confused in those three states with extended deadlines. those are all expected to be very close states. so we won't have a winner win possibly on election night. we will almost guaranteed have a winner, by the time, december 14th electoral college report has to be in.
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this is a distraction. yes i don't like to see it. neil: real quickly, ethan on that, it seems to me that either side is going to protest the other side potentially winning. that is just a given. >> yeah. i mean i agree. there is going to be protests. most important thing for attorneys to do their jobs and courts rule in timely fashion for us to let the process play out the way it is going to play out within the courts in a legal fashion in an orderly fashion so we can actually count all of the legitimate votes. neil: i want to thank you both. it will be a long night. might be very, very long night. it might stretch to 30 long nights in a row. we'll see. ethan, thank you. liz, thank you. there must be something about meeting of the minds here, both these guys are saying to get past some of the nastiness, they helped lift market average to a high, certainly for today. it has been all over the map.
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some late economic news has been surprisingly strong. target's plan to hire 130,000 workers for the holidays. those continuing claims, see a drop, favors eventually half the workers who left their jobs because of the pandemic getting them back. so that is one thing that people are sort of chewing on. but this election will be a very big i issue and the closer we get to the election it has been unscan ney how much more volatile the swings in the vix and volatility index register the amount of angst out there. we have the nasdaq executive vice president, head of north american markets, much, much more. how do you factor in the election and even the possibility, maybe traders are just beginning to grasp that we won't have a winner election night and it could drag on a while? >> well, thanks for having me today. i think we just take a step back.
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we empathize with investors, machinations of the market can be unsettling, they have been unsettling. there is confluence of factors hanging over the market as you said before, we have to put in the context the sharp shelloff and some of the whipsawing you referred to earlier, we're still up year-to-date. key index, nasdaq 100, we're still up 20% year-to-date. we see strong inflows into the nasdaq 100. which signifies to us investors still have positivity around the market, certain aspects of the market. if i take a step back, we also make sure that the markets are functioning well during these uncertain times. that is what you referred to. we have want to make sure the markets are supporting investor confidence during these uncertain times and help them manage that risk over these uncertain times. not just in equities but we're doing that in other categories. we just release another volatility product that will compete with vix called volq.
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it is another tool for investors to manage the risk that you were alluding to earlier. neil: so much depends i guess on talk of stimulus. we have jerome powell, treasury secretary steve mnuchin back on capitol hill today, and they're each arguing for more stimulus. treasury secretary mnuchin says some is better than none. i know you're following unique market, unique time, looking at some of these variables and other tools you can use to get a return on your investment, but are you of the opinion that if stimulus doesn't, doesn't pan out, or just doesn't come as people had hoped, the markets will take it on the chin? >> i think it will just add to the uncertainty hanging over the markets right now. you see that on really a day-to-day basis f i go back to like march and february where we saw the whipsawing action in the markets move we are just preparing ourselves to make sure we have the capacity, the resiliency to handle that.
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outside of having an opinion, how it is priced in, not priced in, it is not only factor. we should be clear the vaccine, job reports, trades everything into this, we take it all together we need to make sure the market can absorb it. there is still effective price discovery, markets feel they are part of the solution and not part of the problem. neil: tal, can you update me what nasdaq wants to do if new jersey governor phil murphy taxes sell and buy orders but ends up potentially billions of dollars i know? you have operations in new jersey. you have a lot of trading facilities. what do you do? >> we have people, employees, businesses in a data center in new jersey, what really concerns us not just nasdaq but at large this is a nationwide tax a buyer or seller from california or nebraska come together to consummate that trade in jersey are now going to be taxed.
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that will have impact on main street investors. what that is going to do, have a drag on investment returns and it will compound over time. we saw vanguard put out a report that said the average american will have to work 2 1/2 years longer to have the same money in their retirement account if ftt comes into place. in addition to that, it will increase the cost of trading. that might decrease liquidity in the market. that will only add to the fragility of the market during uncertain times you spoke about. it is incumbent on us, other exchanges, industry at large, evaluate all options, educate new jersey what it is proceeding with. to make sure we're mobile, we're portable if something should be decided upon this. neil: tal cohen, thank you very much. i hit you with a lot. you hit it out of the park. i appreciate that. as tal was speaking, a pew research center study getting a good deal of attention. they crunched number of
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americans still working out of their home, slowly planning to get back to work. interesting statistic, 1/3 of workers who took temporary pay cuts, looking reality of the pay cuts being permanent. it is affecting their psyche to say the least. will it affect spending when we come back. ♪ here? nah. ♪ here? nope. ♪ here. ♪ when the middle of nowhere...
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♪. neil: i know all you young kids out there don't remember that song but i do and it could be coming reality in the golden state by 2035 by which time we are told that governor newsom would like to make sure that all vehicles sold in the state of california are electric or, well, just not gas, nothing gas. they don't like the gas. it really ticks them off thinking there are still gas vehicles out there and if you're riding in one they hate you, they don't want you. it is not that severe but the whole 15 year deadline to get this done is a bit severe. kristina partsinevelos following all of that and the fallout from all of that.
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kristina. reporter: neil, i do know that song, yes you're right, governor gavin newsom's executive order would be the first state in the united states to mandate elimination of gas powered vehicles in the next 15 years, like you said, by 2035. no it will not disappear completely. gas fueled cars will be available on the secondary market. you can have the ones you still have and by secondary ones. that will have ripple effect on the auto industry. why? california is the largest auto market in the united states. they account for 11% of new registrations for cars and light instruction according to research firm ihs market. california already requires, pushing commercials trucks and vans sold in the state to be by 2045. they might ban all fossil fuel
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vehicles within its borders 20 years or so. it raises a question of affordability. because a lot of electric cars may not be affordable for the average family. >> electric cars are somewhat of a premium product. mostly luxury automakers making these vehicles. average consumer is looking at this, saying i can't afford that. that is one of the big concerns buying electric cars, affordability, range, where can i plug it in? reporter: many auto manufacturers haven't really commented on the initiative just yet but they reached out to ford and they told fox business, proud to stand with california. ford does have electric versions of the f-150 and mustang mach e. passing a regulation against the mounting opposition in california like the chamber of commerce. gavin newsom's term will end in 20202, could be a little difficult. if california manages to pull the plug on gas powered vehicles
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it would be a state joining at least 15 countries around the world that are already taking such an initiative. back to you. neil: you know, a lot of people, they zing california, sometimes what happens there has a way going elsewhere. we'll follow it closely. kristina, thank you very much if that were the pan out in as few as 15 years. kathy is very worried. the western states petroleum association president. very good to have you. the whole world increasingly moving towards electric vehicles certainly not in the percentage terms that would justify 100% push in california in 15 years. your thoughts? >> yeah. well thank you so much for having me and thanks for bringing up the issue of affordability. i'm fine with big, bold ideas, as long as they're affordable not only everyone in the state but to the communities we serve every day. i think what i took when i heard the executive order and the
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announcement was, how is this going to work? how is this really going to work? because it has to be based on some facts and science and not fear. and let me just frame that out for you and start with that, california has less than 1% of the greenhouse gas emissions in the world. you have china who has 25%. so anything we do here will be dwarfed by what china needs to do. so my question is, how much economic hardship do you bring on the state of california when you have less than 1% of the problem? now i get leadership but the affordability issue is a very big concern to me and, when i, you know, i was pretty good in math. a-plus b has to equal c. when i look at these, i look at the data, it is okay, we have 760,000 electric vehicles, okay that is pretty good but, we've got 36 million gas and diesel powered cars and trucks. that is a huge gap. this is a very short time frame. and we have not even begun to
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address the issues associated with the infrastructure needed for this kind of acceleration in the electricity transportation system. i think you see davis did a report that said it was 300 to $600 billion in investments over the next 20 years to meet these targets. b as in billion, not m as in million. these are huge costs so implying that electricity is somehow free which one could certainly get that sense from yesterday's events, there is no source of energy that's free. it call comes at a cost, when the governor made the statement that you don't have to extract out of the earth to, you know, to supply our transportation fuels, what came to mind to me which was well, of course you dough. lithium, copper, nickel, cobalt all the things you need to make an electric battery come from mother either. rare minerals. hard to find. and from countries that don't particularly support the values of the united states, like the
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congo and others. so, i just want some real talk, really about what we need to do here and some of the consequences that will come from this kind of acceleration. can the electricity grid -- neil: do you worry though, kathy, the industry itself seems writing on the wall? that is little bit dramatic neon light writing on wall, major automakers, volvo looking for entire lineup electric, an electric mustang, that is oxymoron, it is what it is, ford and gm pushing a line of electric vehicles to the point they're ramping up production. whether it becomes the law they outlaw all other vehicles in california which does look like a bit of a leap to your point, it is the future or is it not? what do you think? >> yeah. certainly i think you know from, i said this before, from our companies we've been in
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transition since horse and buggy, right? transition is not a word that is unfamiliar to us and all of our companies are invested in electric vehicle changing -- charging stations alternative. two of our companies changing refineries to natural gas, which is being criticize the by the center of biological diversity, which attacks the first lithium find in the nevada. first time in the united states we have lithium in nevada. they are opposed to that as well, i don't know where they think energy is going to come from. that being said, the transition to the future has always been here. we've always been part of it. we are part of it now. we will be in the future. the point is, how does that happen and how do we make sure it is affordable for the disadvantaged communities, for all of those in california that are struggling at a pace, a rate that makes sense? i don't think we're prepared in electricity grid when we're having rolling blackouts.
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neil: well-said. kathy boyd, western states petroleum association president. we monitor this very, very closely here. meantime we are monitoring planned protests that are supposed to continue and expand across the country ever since this breonna taylor verdict. we're going to talk to the detroit police chief who said this isn't all just natural inspiration here. some much it is coordinated and some of it is well-financed. after this. incomparable design makes it beautiful. state-of-the-art technology makes it brilliant. the visionary lexus nx. lease the 2020 nx 300 for $339 a month for 36 months.
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♪. neil: it is a grand jury decision they were not expecting in kentucky and now the breonna taylor verdict eruption continues. they're expanding this to more protests across the country. four big cities in the united states last night. expected to expand to at least
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12. jeff paul, the latest from louisville. jeff. reporter: yeah, neil, once again the 9:00 p.m. curfew will be in place again as the city prepares for what could be another night of fiery protests. they have some dump trucks set up on the perimeter of the downtown corridor to prevent people driving down here. things getting out of hand last night, half an hour before the 9:00 p.m. curfew. when investigators say two officers were shot. they were responding to a call for shots fired and when they got to the scene, investigators say they were hit. now both of them are expected to survive. in fact one is already out out f the hospital. they made an arrest in the case, arresting a gentleman goes by the name of rarynzo johnson. >> the situation last night could have been so much worse for our officers and people who were protesting when the gun fire rang out.
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reporter: protests are expected to happen again yesterday, things did not get bad until late in the evening. that is when protesters clashed with police when they got close to the mayor's house. after that there were several different protests happening throughout the city. 127 people were arrested according to authorities for various things like vandalism and looting, setting fires. the mayor making comments tonight, a little earlier today, just about the situation moving forward. >> what do we do with this pain? there is no one answer, no easy answer to that question, but i do know this, violence is not the answer. destruction is not the answer. public safety and the work for racial equity and justice can and must coexist. reporter: neil, we should also mention a lot of people out here who are demonstrating, protesting in the name of breonna taylor are spending
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their own time out here to clean things up. so you wouldn't really even know some of those fires were set last night just judging by the efforts out here to get the city back to normal. neil? neil: all right. jeff paul, thank you very much. jeff in louisville where they hope cooler, calmer heads prevail. tonight, james craig, the detroit police chief hopes that as well but he had some concerns who is coordinating, maybe even financing some of these demonstrations. chief, always good to have you. what do you think? >> likewise, neil. let's face it, we've been following this in excess of 100 days. all of us know in the major cities this is a coordinated and planned attack. we know here in detroit we've seen a certain segment of protesters, i'm not saying all, by and large most have been peaceful but a core group that are trained in anti-police tactics. then they hide and there are those in leadership positions
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give them cover and say things like, well, this was a peaceful protest. why did you have to use force, why did you have to deploy gas or less lethal munitions? that is not true. when you look at detroit the fact we didn't burn and when we did use force it was in response to aggression, it tells a very different story, neil. i think that is what always gets lost. you know, i got to tell you, read the signs out there. abolition of what? talking about abolition of police? of course. abolition of existing government? yes. so this is a lot deeper than we know and it is not about the left. it is not about the right. it is about the will of these individuals and they hide behind unfortunately tragic death of bree on n. it's a tragedy. i have to applaud the kentucky
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ag daniel cameron who said it best. it is tragic. neil: but you know, chief, i wondered, when you counsel and work with african-american kids, minorities who feel the system is rigged against them, that they're in fact targets of law enforcement, whatever you have been doing and saying appears to be working in detroit. what is it? i think that advice or that approach would be well-valued in some of these other cities expecting still more eruptions this evening? >> you know, i got to tell you, that we're so fortunate in detroit as i often at times say, you don't start building relationships with the community when things go bad. you start that relationship, it has to be institutionalized in the fabric of that department. when you do that you build a trust based relationship. it is not by surprise that detroiters are not in alignment with many of these outsiders that are coming in and really
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trying to initiate their agenda. i got to tell you, neil. one of the things that was said on one of your shows, a former nfl player, he said something that i think so many should pay attention to. let's stop appeasing and let's start leading. stand for what's right and we just don't hear enough people. i get calls from all over the country from my colleagues and police officers on the ground that say they appreciate someone who silling with to stand up and lead because the vast majority of our men and women do it right each and every time. and let's face it, today we're in this issue, anytime an officer has to use fatal force there is now this presumption that decision was a bad decision. and so, it's sad. whatever happened to the truth? i, again i have to go back to that attorney general cameron, who said it best.
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neil: that's well-said. chief craig, always good having you on, because you provide an element of calm that is missing from both sides to stop shouting at each other to see where we can move on from here. thank you for all you do. james craig, the detroit police chief, trying to be a calming force in these anything but calming times. we're keeping track of what could hopefully we think will not get nasty tonight. we're also following developments right now with more, you know, industries experiencing the virus trouble right now that is really walloping their bottom line. the latest won looking at bros to $20 billion in losses as a result of all of this, after this (calm inspirational music)
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neil: i think i know why disney
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wants to expand park hours going into the holidays here. i didn't know things were so bad the entire theme park industry might look to do exact same thing amid indications it lost billions, some say $18 billion since the pandemic. grady trimble following all of that in illinois. grady. reporter: neil, we're at a six flags outside of chicago. it is still closed. there is no time frame when it will be able to reopen. in fact by the governor's reopening guidelines here in illinois it won't be able to until there is a vaccine widely available. and in california disneyland and other theme parks remain closed. they're waiting for guidelines from that state's government. they're urging governor gavin newsom to let them reopen. >> i encourage you to treat theme parks like you would other sectors. help us reopen. we need guidelines that are fair and equitable so we can better understand our future, and chart a path towards reopening. the longer we wait, the more
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devastating the impact will be to orange county and anaheim communities and to tens of thousands of people who rely on us for employment. reporter: disney has been able to reopen its parks in orlando with capacity limits, mask requirements and social distancing guidelines but even at those parks, attendance is way down. for disney it is down 80% year-over-year. for universal attendance is down about 64% year-over-year according to deutsche bank. that led to a 40% decline in revenue across all theme parks in the u.s. and 125,000 job cuts in that industry and it is not just the theme park industry that is taking a hit because of this. it is also to ins where the theme parks are located. this here in gurney, a small town outside of chicago, the revenue this park generates this, six flags, accounts for 10% of the entire tax base of
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the city. neil. neil: incredible. thank you very much, my friend. i was mentioning disney a little bit, bumping the "black widow" to 2021. we heard new york's big new year celebration will be virtual. i don't know how you do that one virtually but that is the plan. you still have what will be the pretty much the same scene in times square then as it is right now. nobody. nobody at all. ♪ are you frustrated with your weight and health?
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all while maintaining safe, correct form. now it's your turn to lose weight, look great, and be healthy. get off the floor and get on the aerotrainer. go to aerotrainer.com, that's a-e-r-o-trainer.com. neil: all right. taking a look right now at the countdown to obviously the big election here you know what's interesting is not only how the virus sorts out right now but the whole battle for the supreme court seat filling ruth bader ginsburg seat there, particularly in battleground states, that, not the virus, but that has emerged as the key issue. so for catholic, religious voters, right to life, just as passionate, free choicers in all of these battleground states this has become the deciding issue. hal lambert joins us point bridge capital founder and ceo.
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hal, that could change. obviously some bad economic numbers, some rocky markets that could alter the equation a little bit here but that is something that is gal vannizing voters on both sides. how? >> it is galvanizing them. this has happened in the previous two election cycles n 2018 you had justice kennedy announce retirement in june of that year. of course with the death of ant anyone scalia in 2016. this happened twice. this is the third time in a row. history shows it helps republicans neil. what i have mean by that, in 2016, postelection polling people coming out of the polling booth conducted by left-leaning competitor of this group, one in five, 20% that was the number one issue was the supreme court. president trump won the voters by 56%. you're talking roughly one in five. 25 million voters that was their main issue. so president trump won those by 56%. so it is a big issue.
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neil: you know, hal, it cuts both ways when you talk about, we put them haul into the same female voters without distinctions between young educated versus older, educated or not, they're not an amore fick group, having said that, there are more in tune than men, surprised me it can go along gender lines in the supreme court pick, on both sides, the passions are both that strong. but they are noticeable part of the pennsylvania electorate, of the michigan electorate, could turn the wisconsin race, minnesota race, just this pick. if i'm, the democratic senators questioning whoever the president has chosen, we know it will be a woman. there you have to be a little bit careful how far you go, or do you? >> you really do. so, you know, the she is going to then come before the committee and if the democrats come across really harsh on her, that could really backfire and
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really turn off a lot of women even though they may have not made up their mind leaning one way or another. if they are hard on the nominee, come across unfair because of her religious beliefs, for instance, the number one pick, at least to be in the lead appears to be a catholic. if they come across anti-catholic, that could be really bad in certain states. so they have to be really careful on this, neil. neil: you know, whether you're pro-life, pro-choice, the way kavanaugh hearings went, you're almost part of a cult if you're pro-life. some of the questions got so over the top they almost make you seem as if you're possessed and i'm wondering how that will fly, you know, a couple of years later in these confirmation hearings? >> you know, it is become so politicized. this didn't used to happen. with bork, it was pretty nasty and obviously clarence thomas.
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now you have all the protests out, they will protest out in front of congress over this pick. media will be non-stop of course, 24/7 coverage as the hearings start. so it could get really ugly and there could be some actually, i'm worried i hope there is not violence over this because everyone knows how important this is and i think that republicans are really pushing to get this done before the election. i think that is probably a smart move. if they, at least need to get her out of committee and have the vote, at least, if they don't have it right before the election, so right after. she is there if case we have a contested election. as president trump said. we don't want 4-4 court going into that. neil: yeah. do you think it will be wrapped up before the election? it has been done in the past, that kind of thing, not in the recent past? >> it hasn't in the recent past. it really, you know, i think, the republicans control the senate. they control the committee, judiciary committee. so they can speed it through. they really can.
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and i think they could do it if they wanted to. here is, neil, they're looking at votes, looking at senate races. you know, and who this could hurt or who this could help. look, and really weighing on it that way whether they need to do this before or after the election? neil: all right. good stuff. i always learn a lot, hal. thank you very much. hal lambert, served with ted cruz among many others and look back to talk about the history. as he and i were just saying we had very quick nominations in the past. the recent ones they have been some doozies, haven't they? the dow down 115 points. tech is trying to stage a comeback today. it is sort of up and down. a lot of gyrations pretty much happening on the supreme court front. what is happening right now in reaction to the president. the latest comments on the election after this or what's trending. get real-time insights in your customized view of the market. it's smarter trading technology
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welcome to the second hour coast-to-coast, we have the dow a high after 200 points earlier on, optimism seems to be built on better news that came later in the day after so, so jobless claims report that showed growth week over week but the trend is still the front those looking to get back to work. cap americans have the pandemic,
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half on the 24 million jobs lost during the pandemic have come back. 12 million jobs have been added to the economy since all of this started. continuing claims -- that fell 167,000, about 12.6 million americans and then you've got news out of target, one 30,000 workers during the holiday season, anonymous have not shared something with us the surprising jump, new home sales in august up to a 14 year high after 5% that month. that has things going and percolating a little bit here. we are also following politics because the election is apparently close the president will be announcing stops today, plans for north carolina and florida where he's coming up with a healthcare plan that everyone will like, against republicans and they have not
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done enough on that front and their plans and talks on just that. they haven't come up with an alternative to the affordable care act so it's sort of like the new battle lines, we will get to that in a second. we also have the ceo coming up on all these changes coming to california over the next decade, a little more than a decade. a push for electric vehicles only and business ceo on the jim's industry, jim's reopening but it still has to be fully staffed so to do that, 25% of te money coming in. we will explore that coming in the president's push for the healthcare issue republicans can rebound on. blake. >> north carolina 4:00 hour today, we are not expecting a comprehensive unveil or unveil a comprehensive healthcare plan president trump has been talking
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about for more than a year, rather a white house official told me today the president will make an announcement that is big deal for seniors. we are also expecting the president to sign in unveil an executive order as well in the healthcare space. how the health and human services secretary elex azoff put it today. >> today will have a big and bold announcement that's the next step across the entire comprehensive health plan for all americans, better care, lower cost. >> live look at the podium at the white house with the press secretary katie mcenaney will brief at any moment. there will likely be lots of talk about the peaceful transition of power. the president would not commit to that possibility and the has drawn backlash. >> get rid of the ballots and you will have a peaceful -- there will not be a transfer, a continuation. >> i don't know why he doesn't
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do more. he says people swallow it for the rest of our lives but he's trying to have the constitution of the united states swallow clorox. i'd appreciate these questions all of you have these morning. the arrogance. >> recordings have been asked about this in washington today, mitch mcconnell took to twitter, he said the winner of the november election will be inaugurated january 20. there will be an orderly transition just as the has been every four years since 1792. kaylee mcnamee will likely talk about that and see what the white house unveils today. neil: i remember covering that in 1792 before you were born but it's always been a peaceful transition. thank you very much. development on capitol hill
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where the "issue is" twofold, a measure may be to keep the government open and a separate one to be dealt, stimulus relief that we've seen on the federal reserve chair and treasury secretary endorsing, actually pushing today. what is the latest? >> i covered the government shutdown of 1792 but anyway, it's going to be a vote. we don't think there will be a vote in the u.s. senate today on the spending bill, the band-aid bill to fund the government through november. past that earlier this week, an overwhelming vote, 359 -- 87. alexandria ocasio-cortez, democrat from new york city voted present. they had to go back and retool the bill to get it across the finish line. i'm told in the past 20 minutes, they think they will vote on this next wednesday, thus the last day they can do this
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because the government shutdown at 11:59 p.m. next wednesday nine, steve mnuchin was on capitol hill today. >> i couldn't be more pleased the house passed with strong bipartisan support i hope the senate will not pass that promptly and when we get done with that, the speaker and i will discuss an additional cares fund. >> leaders decided not to attach any coronavirus aid to the spending bill work at risk government shutdown. the death of supreme court justice ruth bader ginsburg sidelined any major talk about a covid bill. >> the fastest process we've ever seen in the supreme court, i wish it were this fast when it came to dealing with the pandemic that we have, dealing with an economy, people are suffering. he has no time for that but when it comes to the terms nominee for the supreme court, ways no time and pulls out all stops.
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>> airlines are worried about layoffs, starting october 1. that concerns ceo of united. >> reality is, we need to do more to keep them employed, to keep the support for the economy and talk because it's not just about the tens of thousands of people whose jobs are at risk, that is important but it's also about the indirect jobs all of them support. >> nancy pelosi and secretary of the treasury steve mnuchin have talked a few times by telephone about covid relief but nothing is moving on that. it probably will not move until after the election. neil: all right, i don't know why i didn't bump into you in 1792 -- >> i was chasing the speaker down the hall. neil: i loved those moments when you do that, thank you very much. if we don't see this measure, if we don't see virus stimulus relief, and what works i wonder
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what your experts tell you if we don't get either. >> it will be a big problem and i think you see that reflected in the markets and how they've been trading. we been talking about back and forth trade every day, it tells me right now investors are short-term focused, they make a profit, sell it and repeat that pattern. i think what they are worried about is the election coming up potential turmoil you been discussing about the transition of power, we are not having a transition of power but they are looking at the other candidates, the other side, joe biden and kamala harris and worried about tax rates 21% to 20%, they are worried about the fact if they have employees, it will be penalized for that so that is one piece. the second is a covid follow and i know it's city specific in some places are doing better than others but here in new york city, it's very slow and you wonder how payment companies
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have to make, they've been referred, and all these things, eventually the bills will be due and people will have to pay when the business doesn't come back to levels in their down 50% or 80%. the final piece is i think wall street of the earnings, expecting third quarter to close and numbers from companies, we know the second quarter was not good. we are hoping there will be improvement but only a be marginal so there's a lot to get through here before we get to the end of the year and we've all already been through so much over the last x months. neil: you know, i know it's a game here but i think we will get a government relief bill, to avoid shutdown before the election, at least i hope, i'm taking that out of the equation of potential worries but i don't think we'll get the coronavirus stimulus relief before the election. i could be wrong but what if it
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doesn't materialize? markets seem to want to know they want but in what? >> the market is due on it, that is the scary thing in my opinion where we are with the levels she mentioned, who doesn't want to keep the music going in beverages, whatever they may be flowing when your parents aren't home? keep the party going a little longer. nobody is looking. that's how i look at the stimulus. neil: i don't know what it was like but i was busy studying so i don't -- continue that, plea please. >> the parents in the room, maybe it is congress thinking about how much stimulus has already been thrown in, the federal reserve, relegating to maybe a more passive bystander going forward given they have already put so much in. that's what i think the markets
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need to consider, we started to see economic data improve, obviously market numbers depending on the week improve and i think the stimulus to work its way through but we've already seen a bit of improvement in earnings and i think that's what the market looks at going forward, paying for the rate of growth in given we've seen somewhat of improvement you too, i think that's what the market participants going to set, if we continue on this rate of growth, we will see higher prices going forward. >> every day we are reminded of this virus still with us, the perfect number of deaths, 200,000 deaths, a million worldwide but the constant social reminders, here in new york, looking at no broadway, no shows, now no new year celebrations, it will be virtual and it could go on for a while and i'm wondering economic impact of this dragging on as
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well. i don't know if the markets have appreciated the magnitude. >> i don't think they have. you showed a picture of times where we started six months ago and it was remarkable it's empty. it is still empty and i will tell you it's probably going to be empty at least until the end of the year. holy of seen incremental changes here, some coming back, some time to get the kids in school but this city in particular is still in really bad shape so i know this is not the example for the rest of the country but there are places right now hard-hit and they are bracing for this to be a six-month pandemic but overall when everything said and done, maybe it last 18 months and that's why there are some places putting so much hope and optimism on trying to get a vaccine passed through, hoping it will happen during the city's back to life and breathe some optimism into it.
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on the stimulus side of things, we put a lot of stimulus into the economy to try to help it rebound and it's worked for a lot of the cities still shut down in this way in new york, for example, are run by a democratic government and the democrat mayor and they are the ones putting these restrictions in place and not allowing the people can get back to business to do so you can have an argument, we may not get the stimulus package before the election but you can have an argument whether we really need it or not or is it more of a policy issue at the moment? neil: real quickly, a lot of that stimulus bill doled out, hasn't been spent, that is another problem. >> that's really where you see the government work for you as an american person or citizen, the money, god knows where it goes and i think that is the other thing we put so much out there, where did it go?
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i think it inflate prices in the markets because they get excited about the support but the reality is, it will come back to the american worker but i do think about times where, it is scary, the markets already know that. authority happened, it's already going on so unless is that resurgence, i think we are we are hopefully growing as we seem to get posted to a vaccine and more aware of what's going on. neil: you have redeemed yourself from your roguish teenage past so i am happy to see that, that's an example of yesterday. thank you both very much. we are seeing the dow come back a bit, looks like there a list of names, tech is looking good. along last is anyone's guess. ♪ ♪
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barkley, asking to return to new york city offices in october, this is coming the elite memo, if it brings about, it should jp morgan chase has been doing
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that, it's hopefully by the end of this month, which is next week into october there's a push to coordinate that. the big multinational financial player has been the view, if you want to push it back later, you can but who would prefer you get back sooner than you may be thinking of blackrock has already gone on record saying is likely that they will never be one 100% back to offices and probably less than that permanently. take your firm and what they're going to do but they want to get them back in offices sooner rather than later and not put it off too long we will see where that goes. we are following the political race as well, just got here because you always develop my financial questions because this one is a doozy.
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michael bloomberg spending $100 million in florida to help joe biden but some of that money including $16 million in donation is to help felons vote in the attorney general saying you can't do that. what you make of all this? explain what is going on. >> never give me easy ones. good afternoon. always a pleasure to be with you. not uncommon, believe it or not, it is not illegal for third-party to pay the criminal fines and fees of a convicted and out of jail felon. this is normally done by family or nonprofit organizations or even by the balance employer, all of whom are interested in acclimating the felon to a life of freedom and responsibility so at first, there is nothing unconstitutional and nothing
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illegal about my bloomberg or anyone donating money to a nonprofit that's doing this. the issue arises in the interaction between the people who work for the nonprofit and the ex-con. are they saying, we are going to pay your fees for you so you can vote? or we are going to pay your fees for you so you can vote for uncle joe? obviously if it is the latter or anything that, fill in the blank for the name of any candidate, the president trump, anybody, that would be bribery but if it is purely an effort to get people to vote, not even a hint of how they should vote, it is illegal and not uncommon. neil: you have to have a tangible reward, though. there has to be something of value, material value otherwise, right?
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>> material value to the x con is relief from the obligation of having to pay a fine. sometimes the fines are enormous, sometimes they are restitution. other times they are very small, a few hundred dollars, basically of court costs and fees on filing documents, certifying you have completed your sentence so that is the tangible thing the ex-con would receive, which is a relief from an obligation but as long as there's no quid pro quo, there's nothing wrong with this. there is a quid pro quo, i'm going to pay your fines and fees but you've got to vote fill in the blank. whoever said or offered that is guilty of bribery, a very serious charge. it doesn't necessarily mean mike bloomberg, continuing to donate
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money anyway, i'd be surprised if that is the case and it doesn't necessarily mean the nonprofit for whom this person for my hypothetical is working knows about it but if the donors and management of nonprofit know about the bribes, again, this is hypothetical, we have no evidence of this happening, and they, too, could be sucked up in a criminal prosecution for conspiracy to commit bribery but if they are pure and of the people dealing with these folks in the street are pure, no problem. neil: while i have you, my producers are all so much younger than me, but i did want to pick your brain a bit and what the president said, i am kidding, by the way. the president refusing to comment on a peaceful power for the election, a lot of people read into that but you will have to call him out of the white house and will raise constitutional crisis what did you think of what he said? >> i thought what he said was
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reprehensible. his term ends january noon, january 20, 2021. if he's not reelected, it is his constitutional legal and moral duty to leave even a few things he has been reelected. the constitution has all kinds of safeguards for the continuity of the president he may not like them but he will uphold the constitution. if i peaceful you mean without violence, i don't know why he couldn't answer that, of course there will be no violence. there may be litigation but no violence. instead, has the impression that there might be, that is not the american way. we have laws that need to be followed in the constitution that needs to be upheld. he's taken an oath to uphold the constitution. >> all right. thank you very much. to the judges points, mitch mcconnell already said there
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will be november 3 with the election, that person will be inaugurated january 20. there will be an ordinary transition, there has been since 1792. mitt romney is taking the microphone to say the president's comments on this were unreasonable. more after this.
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the plants in california, make all vehicles electric for certainly non- gas powered by 2035. the founder and ceo joins us right now, good to have you back. what you make will california wants to do? >> great to see you. it's going to make us all talk about electric vehicles which is great but i don't think it's going to have a big effect
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because the majority of all vehicles in the world will be electric anyway because it's going to happen with the tipping points, which will happen around 27. for years, we had both manual and electric and now automatic. they cannot afford to make the present electric and 50% gas, it's going to happen by itself. neil: let me ask you about that, i look at the number of electric vehicles, they are moving up and rapidly increasing but there's 20 times by traditional vehicles, i can understand wanting to look down the road for complete electric line up but now there's an electric ford mustang, that blew me away all the major automakers will expand their electric offerings lexus jim audi, mercedes, i get that
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but are the tipping points in which people say i'm not going to go crazy with this and i want choice? or what? >> for all long time, people wanted choice but they just don't have a choice unless you buy an extreme sports car. we'll have choice for gas cars, extreme words cars in the future but we are going to move quickly and you can see what happened in the last six months, wall street is back in it, it's not just in the u.s., it's all over europe, china and once you're up and china, you can't have america lagging behind for the industry will die so it will be automat automatic, i think in two or three years, you will see already within 20% of vehicles being sold in europe, u.s. and china being electric and i think the tipping points about seven
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years, right? that is a generation of a platform of the vehicle and that's what every automotive has a chance to explore, fortunately today, nobody has caught up with tesla yet even though they've had seven years. that's what we need to happen, a greater range of good electric vehicles out there. neil: you know what might have changed the game, the battery, if you can go much further on a charge, on the battery, tesla is talking about i think it's going over 400 miles on a single charge, they are talking a new model three that will be able to go over 500 miles but the battery and getting more out of it will be key to this growth, do you subscribe to that?
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>> not really. first of all, by the way, the expense of one. neil: you are right. >> i think it's going to be about pricing, we are launching a real suv, well over 300-mile range for 37000 $500. as we need in the market, affordable vehicles, get the car back anytime so what allows you to do, because there are low cost to maintain, we can offer maintenance included in the lease even in an older vehicle so it doesn't matter the cost so the consumer will realize it is much cheaper in terms of the infrastructure into a three years, it will be up there, we will have as many charges as you have gas stations. it's just a matter of getting used to it, technology is moving away faster and gasoline
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technology that started in exhausted so you see traditional carmakers moving into electric patient, gm announced this, etc. the advances we have, we don't have the legacy cost so the interesting thing is that new carmakers might be able to offer cheaper prices on electric versus old carmakers and that is what is exciting in the market. neil: but everybody has to get on the same page as charging stations. if you have competing technology, is sort of like the bhs all over again. >> that is true. tesla has their own and i don't think that is the future, like you said, you can't have a gas station for one brand and one for another brand. we already now have something common that everybody has adapted to so i think they will eventually turn around and adapt to that, make it easier for all customers. neil: thank you.
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ceo, way ahead of the curve before almost anybody something to watch. with us right now, the democratic california some wom women, some women, it is good to have you. what you think of what he was saying? you might not need something like what the government is proposing in california, the demand is there already, we don't need to legislate it, he didn't say that in those words but electrical vehicles are being popular, growing at a faster pace than any other type of vehicle so you don't need this, what do you think? >> take you for having me, i appreciate the opportunity to be with you. i'm hopeful and optimistic the market continues to move in that direction but market signals are important, it is critical for our businesses and this is a clear market signal for where we
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are headed in california, providing flexibility in respect how to achieve this goal. it provides time to phase in. if the market moves faster than what we are seeking, all the better for our global climate job creation but is it is important we have a strong market signal and that's with the governor provided yesterday in california. neil: i know you are on a wealth tax will be on the ballot in california, jamie diamond, jp morgan chase, he's more than open to paying more taxes, he thinks a wealth tax is unworkable. , it would be a nightmare, what you think? >> first, the wealth tax is not on the ballot, at least not this cycle. it's been proposed, introduced it we talked about it last time
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i was with you but in listening closely to the concerns about how you implement appropriately and administer the wealth tax, i am very thankful and appreciative to hear there is a desire for more, it's a shared desire by many millionaires and billionaires will be paying a wealth tax it is a question of how, i think we can figure it out and get that but there are real concerns, i've talked to folks will be subject to my wealth tax and its provided important insight and how to implement it but we need to discuss the challenges we need to overcome. neil: i knew it wasn't on the ballot, i misspoke. do you think if not this election year, it will be put on? another future ballot, that there is support for that? i'm hearing that there's not but you could update me. >> there could be, that is certainly one way to have
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revenue and put it in front of the people, go with that process show the people that revenue source and putting everything on the table right now. we need to invest in people who need it most work barely hanging on her can't hang on anymore and need our support. we need to keep investing and identify appropriate ways to do that. it could also be through a significant jobs creation and infrastructure bond. money is the right now, we can stimulate the economy and help the people that way. it's all for the of consideration so i am thankful i've put an idea on the table that is gaining traction. some criticism for sure, i am listening closely to those, i think it is important to provide a solution that can really work. neil: there is a push for those taxes, california needs money so that has come up as well.
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is it fair to say california will be raising taxes? >> there is a proposal on the ballot you might be referring to that is a reform of proposition 13's on the commercial side, not the residential side, no homer homeowner will be impacted but if they're not paint the their share, they will be asked to pay more. i don't know if it will pass, it will be up to the voters. if it does, corporations will be paying their fair share of property tax. neil: all right, i give you enormous credit, come on here and talk your views, you don't pick and choose your networks and i admire that. we will see what happens under the democratic california at some women, all that's going on in california. as the assembly was speaking, the white house is apparently clarifying the president marks on accepting the results of the
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election coming up, the president will accept the results of a free and fair election. more after this.
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greatest getting this in, a judge says the u.s. must delay the tik tok download ban or by file legal papers by friday 2:30 p.m. defending the band. the move south of downloading, force people to download, the judge is saying no, that can happen until you give justification for it. got lots of things to discuss. i do want to get into this first with you, what you think the tik tok thing? >> they are copying the recheck file temporary injunction to prevent the ban of that act,
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another chinese out trump administration is accused of spying were used as a tool for spying for surveillance and the judge issued temporary restraining on we chat so they are following that model. we previously reported that, if they can't get a deal done with oracle which is, as of now, it could change but as of me speaking right now, it is in limbo with some people in the administration like bill barr, the attorney general and being against it or at least raising some issues with it from a national security standpoint and others like steve mnuchin pushing for it. it is not quite a sale. the chinese will still be a major part of this, they on the up so if you believe tik tok is a national security threat, this doesn't deal with the, it doesn't address that and the president is starting to come to the conclusion, at least as of now. both parties are trying to work
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out, this could be any day now, this could be interesting. the courts preventing this ban, this could go on for a long time presumably after the election so this is a day to day thing and now i just want to get into this lawsuit, it's pretty amazing, it's on foxbusiness.com, he's being sued by the former ceo of a partnership being created to fund education for low income students in connecticut. it was unveiled by connecticut governor, one of his charitable foundations was going to throw in $100 million, the state was going to throw in 100 million, is announced about a year ago, nothing really came of this. they dispersed some of the money but clearly not $200 million. they brought in ceo in march and
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marianne, longtime nonprofit executive she was chosen after a surge, within a few months, she was ousted and said she was ousted improperly, it is just an lawsuit. she's making a lot of claims about it, really not running one of the biggest funds in the world, bridgewater associates. she brings up the need to issues inside bridgewater, allegations should say, inside bridgewater and brings up -- if you believe what she is saying in her lawsuit, a sweetheart deal with the state of connecticut where he didn't have to abide by state disclosure rules and i don't know how he got that but he's close there so this is all in
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the lawsuit. it is fascinating, political angles here, is obviously a legal angle here, she suing for $2.5 million for defamation and wrongful termination so it's fascinating because the first announcements, is announced with great fanfare, is a huge education initiative, one of the biggest in the country targeted for low income students in connecticut and it didn't come off the ground very well, there's controversy and now there will be more controversy as the lawsuit is being trialed. neil: thank you. a new york times story, new york is apparently going to review various vaccines that are getting the attention right now citing politicization of the process. i've not read the full article but we do know is happens on the
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same day both madrona and pfizer said health and human services, at least announcing that they will have enough data to submit for approval of a vaccine by october. whether they are among those that new york is reviewing and saying the process has been politicized, i don't know but right now, that is the is wrinkle in this, some people are saying president rushing this, the president needs agencies and medical and otherwise the biotech, far from it, distinct order to all this in a process and they are honoring that. stay with us.
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we knew a pandemic was good for online shopping but in? apparently very big. attention, boys and gills -- [laughter] got me there. i see what you did. have you ever used a crank, you probably used will shed before.
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the lure of fishing has never been bigger, this is a corporate office, hedge code started in a garage outside of chicago and you couldn't see this coming, he thought covid comes, fishing is going to die. neil: covid hit, retailers closed their doors, i had together a whole team together and say i don't know if we are going to get through this. >> what happened? >> we saw all these customers ordering online sales went through the roof. >> you started with mystery tackle boxes -- let's open this one. you surprise somebody every month, what is it called? >> this is a fast subscription kit that comes every month and meant to introduce them to new products. >> and ba layers in orlando
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using your products -- >> that's right, we had athlet athletes, on social media. >> this is one we saw coming, because this place has boomed, we are in corporate offices over here, very few employees -- employees working from home or at least they say they are, they might be fishing but your developing new products because you got money coming in, something you didn't see. >> that's right. this is a passion so we started with the prescription and continued to make exciting products for our customers. >> i like to eat fish myself but this is nothing new they just developed, pretty amazing when you think about. socially distancing, by yourself on the river, not catching covid you may catch a fish the. neil: you are a very busy guy, you seemed like a tight a get
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things done, i can't see you sitting around, i wondered whether you were a fisherman. >> my dad used to try to take me fishing, i hated it. he went to his grave i think said that he raised a boy who did not like to fish. [laughter] neil: all right, convincing story. on a scale one to ten, i give it a ten. you're welcome, america. ♪ now you can trade stocks and etfs for any amount you choose instead of buying by the share. all with no commissions. stocks by the slice from fidelity. get your slice today.
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neil: we're in and out ever session highs. this home sales report surprising a lot of people, jumping in august 5.8%. when it comes to homes we love them and it doesn't change. to charles payne. hey, charles. charles: neil, thank you very much. good to see you my friend. good afternoon, everyone, i'm charles payne. this is "making money." buy on the dip crowd materializing lifting major indices from the deep red twice. make no mistake the stock market is the biggest bully in the world trying to push around fed and congress. we have a special line up of market pros, president trump heading to all important state of florida as the ag accuses michael bloomberg of trying to buy votes

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