tv Cavuto Coast to Coast FOX Business October 29, 2020 12:00pm-2:00pm EDT
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we didn't get much of that. i was expecting a ton of it. didn't very, very much. disappointing. susan: i'm sure. stuart: one week we'll have hate varney week. you remember hate hannity week? i rather liked it. market grain, 12 points. that is all we got. i was doing my best for you, lad. it is yours. neil: if you're looking for hate mail, holy cow could i keep your producers busy. usually comes in cut-out magazine letters but i will be happy to share that with you. this guy needs help with hate mail. i have got plenty. look forward to that tomorrow. if you need help on the hate mail front i'm here. we're waiting on a number of campaign rallies and florida is sort of the epicenter of the political world. president departs for tampa for a rally. very same focus of attention for joe biden. also the policy of john maxi.
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parler is alternative media site for those who feel the other big boys are blocking them and making life very difficult. his take on the attack line of the some of the biggest social media concerns in the country. how he diffentiates himself. jon taffer, "bar rescue" fame. had a interview with the president of the united states. the president making it very clear, that he is concerned about the same things john is. take a look. >> are you looking at another round of ppp? president trump: yes. >> what type of provisions what type of time period are you looking for in that? president trump: we did two rounds plus. they are very powerful, very strong. it worked out good but nancy pelosi is just tapping everyone along. neil: all right. the ball is not really moving forward on the stimulus stuff. if you're expecting it right now, the latest musings out of
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nancy pelosi, well she thinks joe biden will get elected next tuesday. meantime we had a very, very strong third quarter gdp report, beat the estimate. 33.1%. estimate of 31%. we finished the best water in american history which followed the worst quarter in american history. some are looking at that as essentially a wash. if you want to look where it compares where we were say the end of last year, we're down about 3%. that might be a good way of stepping back from all of this. it is all about the pandemic. we were ravaged by the pandemic in the second quarter. we're coming out of it in the third quarter. the fourth quarter, nothing like these incredible numbers. get the latest at blake burman from the white house, looking at those numbers, looking at positive news on the claims front, down from where they were and where they were expected to be. taking all of this in and as they think tampa and campaign rallies. hello, my friend. reporter: neil, the white house
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will take the right portion of that graphic you showed there, 33.1%, and make the argument that their policies are working. we heard from larry kudlow today echo that, the idea we're in the middle of a v-shaped recovery is proven on this day with the gdp numbers. however as you also mentioned where the economy is right now, it is still 3% lower where the economy was when we started the year. so the question when might all of that eventually be made up? kudlow predicted earlier today at least in his estimation that it could just be a few months away. watch here. >> i reckon with some, you know, any luck and good policies especially, by the end of the winter, maybe early spring we will have closed the outpout losses we suffered through this pandemic contraction and that is much faster than anybody dreamed possible, just as today's third quarter beat expectations. so this is a good story.
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reporter: president trump had been banking on an historic number. listen here to what he said yesterday in arizona in advance of the report when he was on the campaign trail. president trump: if that number is not big you don't even have to vote for me, okay? i think it will be maybe the biggest number in the history of our country, gdp. that is our big number, right? [applause] i'm taking a chance when i say that, you don't even have to vote for me. reporter: as pour the president's opponent joe biden he says all of this proves that the president has shown a lack of leadership when it comes to covid-19. here is part of the statement that biden put out today in reaction to the gdp number. quote, this report underscores three incase appable truths about donald trump's economy. we're in a deep hole. president trump's failure to act meant q3 growth was not nearly enough to get us out of it. the recovery is slowing, if not stalling, the recovery happening is helping those at the top but
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leaving tens of millions of working families and small businesses behind. you see the two different arguments the campaigns will make, neil on this day, potentially the last five days as we head into tuesday. neil? neil: can't believe that i guess it all ends or does it on tuesday? thank you, blake, very much from a very wet, nasty white house right now. it is raining all along the east coast right now. in the meantime we were telling but the stock market, down right now. this is problematic development for donald trump, if you buy some market lore that says how the market does exactly three months before election day goes a long way to deciding whether the incumbent party keeps control of the white house. right now the s&p performance during that time has a slightly underwater from where we were three months before election day, which would be, obviously around august 3rd. at that point, right now, taking that into the equation here, 20
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out of 23 times when a phenomenon like that has happened the incumbent party loses. if it is higher than that, in other words, if you gain during the three-month period, right now the s&p is technically down a little bit with today's modest drop-off, the bigger drop offs of the last three days of course, it is entirely different story. if you're up from that point, essentially a little bit more than 86% of the time the incumbent part in the white house keeps control of white house. if you're not, you don't. what does it mean on the 91st anniversary of the 1929 stock market crash? i look at historical things, what people cling to, what to make of that. katheryne rooney vera, john tamny.
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you could easily go back to even three months, forget about the exact day of election day, go back to the quarter, go back to any period and get different numbers, i grant you that, that the market has been a president's friend, this is heck of a time to see it start hiccupping? will it make a difference? better than 70 million people already voted. it's a moot point for them. what do you think? >> a market is always looking into the future. it is more investors saying assuming the incumbent in we would have more market friendly policies. historically markets rally with republican in the white house. they down drift and if a democrat wins, once the democrat wins normalcy comes back in. they tend to rally, the ability of the other party to do a lot of damage is maybe somewhat limited by divided government. my sense, markets were
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predicting a trump victory. i think they still are. my speculation on this, we know how quickly nail-biting politicians can do damage to the global economy and there is talk once again of lockdowns, these needless lockdowns you fight a virus with economic contraction. sew my sense is that the correction is more about that, less about what is going to happen. neil: you know, kathryn, the economic news has been generally pretty good. we had a dip in, you know in home sales activity. that was off of a record month and it wasn't much of a dip. we had a surprising show of improvement right now no jobless claims, now averaging 750,000. that is down markedly from where we were and you have very good news on the gdp front albeit coming after the worst quarter, the best quarter so i'm wondering why it is the market has sort of a tough time digesting that and trading up on that? is it the virus, spikes in
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cases, the lockdowns beginning to take place in europe right now? some individual american cities are looking at same what do you think. >> i assume you're talking about, neil, recent trading history, march 23rd, the stock market is up 50% and tech up 70% but i think it's a combination, neil, as john correctly said the prospect of further lockdowns because lockdowns are took us 30% lower in the second quarter of this year. government mandated economic destruction. you know, and that is in the third quarter. what took us, virtually equivalent percentage higher. so going forward what we need to think about is, what are the prospects of additional lockdowns under the potential next administration? i think, neil, i think john agrees with this, listen to him say, that the market is thinking that's a higher probability if we do get a change in administration with the biden
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administration, if we follow the path of france which announced a national lockdown, that would be devestating for our economy. the undesired consequences of this kind of manner of tackling the virus are massive from physical, mental, emotional, structural unemployment, destruction of wealth perspective. neil: john, when you look at this, what is happening now, of course october is also a freaky month for the market. it is not the worst month but tends to be more volatile. i talked about today the anniversary of the 1929 stock market crash. do people look at october, get into november. put this behind us. we think underlying trends, spikes in cases notwithstanding are still very good? they were not that way in 1929. you could make the argument they were awkward in 1987 so this could be a little overdone. what are your thoughts? >> if people thought the october
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is the correction month they would correct stocks in september to get ahead of it. this is what we think is happening. let's never father get the natural state of free people is to grow but when nail-biting politicians put the proverbial boot, when the very people who brought us the past, post office, dmv, will decide how to run the economy, stocks do not wait for the eventual result. they price in that disaster ahead of time. there is a fear now because cases are going up in a country that tests relentlessly naturally cases would go up we need to have our hands held again and need our freedom to be productive taken from us again. stocks do not wait, once again for the result. they're pricing this danger right now. neil: all right. final word on the subject. john, thank thank you. kathryn, thank you. back to politics. president is crisscrossing the country. but this time he and joe biden
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will considers cross the same place, hours apart. tampa, florida. reed wilson following the president's travels and joe biden's travels. hey, reed. >> how are you. neil: very good. what do you make of targeting of florida, second of pennsylvania number of stops just the president has made? >> florida is always the epicenter of american politics. it is the highest amount of spending we've seen so far this year on television advertising which is the real measure of how seriously a campaign takes these states right now troubling for the president, joe biden and his democratic allies are outspending president trump in florida media markets by almost two to one margin. that is almost unprecedented hole a incumbent president has to dig out of. reflection that joe biden has become the first presidential candidate to raise a billion dollars through his campaign account. neil: yeah. friend who live in that tell me about the number of biden ads they see that are four to one
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biden over donald trump ads. now that is anecdotal from a couple people i know down there you can't get away from them, neil. they're non-stop. wondering given that financial advantages that is going to give joe biden you know an extra edge in these next few days? or do we make much ado about that? polls are still fairly tight, depending again on the poll. what do you make of the money difference and how that could help joe biden right now? >> the money difference is significant and substantial pretty much every swing state across the country. president trump is only outspending joe biden in two swing states, ohio and north carolina. thing fact that ohio is considered a swing state is a problem for president trump. the vast majority of voters decided how they will vote. these ads are targeting a very tiny slice of the electorate. one slice undecided, one slice hasn't figured out whether or not they show up to vote.
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both dem crafts and republicans are trying to mobilize voters who will be with them if they decide to vote but haven'tdecided to get there the biden spending is significant in most battleground state. talk about a state like florida, it will be 50.1 to 49.9 pretty much no matter who wins. neil: is that right? following "the hill," what you have written and discussed, one of the things i found interesting is how you can handicap, if you can handicap all the people who have already voted, close to 80 million right now. could be by election day over 100 million. that would be the first time in history it has eclipsed day of voting. we try to get a rough idea, democratic ballots went out and returned versus republican ballots. they make up 2/3 of them, said to extrapolate into democratic votes, not all the time, but how do you feel about that and how they're counting first off because they're not all going to be counted right away, and that
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could make a complicated election night, right? >> that's right. every state has different rules about when election administrators can start counting. some states start counting ballot moments show up. they open the envelope, count ballot. others wait until the polls close on election night. in some days you will see joe biden starting off with a massive lead, president trump eating into that lead as the election day vote reports. in other states you start with the election day counting reporting first, president trump will start with a lead. then those absentee ballots will chip away at it as more votes come in for joe biden. the big thing both parties use early votes for to bank their most reliable voters so they don't have to talk to the voters anymore. once they move to other, other voters who haven't actually cast their ballot, those are the mobilization targets. those are the biggest concerns that both parties have right now. the one thunk i'm paying attention to is the people who voted this time who did not vote
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in 2016. that is about five million people who showed up. we got to figure out who those people are, and how they're voting. neil: all right. reed, we'll watch closely. thank you very much. reed wilson, "the hill" correspondent. very good read. he looks beneath the surface. looking at surface, it looks like overwhelming flood of ballots from virtually all of states in the country. we'll keep eye on jon taffer, "bar rescue" fame, that's right, he sat down with president trump what about a stimulus rescue? are we going to see this? going to happen? the president wasn't optimistic. he wants it but he doesn't see it happening. we'll have more. ♪. - the world is in turmoil. been turned on it's head. of a possible recession..
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this week of walter wallace, jr. we're told the family reviewed the body cam footage of his shooting back on monday and that they want to release that to the public to see as well. too soon to say if or even when that might happen. but leland vittert is in philadelphia with the very latest on how the city is preparing for yet talk of another night of protests. leland, what is the latest? reporter: we understand, neil, there will be a press conference with the family's attorneys at about 4:00 this afternoon. they have to their credit called for calm and for peace. if there is going to be protests let them be peaceful. last night there wasn't many protests or a lot of lootings. there were couple break-ins. there is rite aid that was broken into. police have been in parking lots during the curfew. a lord & taylor was broken into and police responded and arrested everybody. you didn't see mass merchandise littering parking lots the way you did the night before.
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this is concerning. two u hauls were found with explosives in the back. the bomb squad came in. sources tell fox 29, our fill eight here that those explosives were going to be used by a gang, a gang that has been blowing up atms around the city in somewhat unsuccessful event to gain access to the cash boxes in those atms. it underscores how violent some of these riots have gotten and dangers to police officers in them. >> injuries include various cuts and bruises, et cetera, from thrown projectiles, rocks, brick, et cetera. several officers also had something that appeared to be blood intentionally thrown on them. reporter: in all 53 officers have been injured. there have been 172 arrests. a few things happening in the next couple of hours, 1:00 p.m. news conference with the u.s. attorney about potential federal
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charges because of some rioting, looting and arson that has gone on over the past 48 to 72 hours, neil. we're waiting to hear from the city whether or not the curfew will also go into effect at nine. it is hard to imagine that doesn't happen. neil: all right. leland vittert, be safe my friend. leland in the middle of that in philadelphia. we'll see what they have to say about that right now. we do know target a lot of times police, that they go too far but maria bartiromo had a chance to catch up with ice cube the rapper, actor, filmmaker, said that is an easy sort of a copout and no pun intended. check it out. >> over 43% of our businesses have shut down. nobody is talking about that. i just want to make sure that all these political people understand that we have to help a specific group of americans, to stop all this stuff going on
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in the streets. because, the country is coming apart at the seams. i don't know why people don't see the real problem. it is not just police. it is financially. neil: all right. it is financially. marjorie clifton, democratic strategist joins us, joseph pinion, republican strategist. joe, ending with you, beginning with you, note of making a black and white issue, no pun intended and police target african-americans we're missing a bigger point. a lot of this is financial too. maybe they're on the losing end of the stick when it comes to how the pandemic goes. we've seen much more impact on the african-american community than we've seen other groups. does he have a point? >> i think that is the point that many black people have been trying to make, particularly black republicans for a very long time. this notion that we're not trying to describe what is happening in a biden america or
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a trump america but just what has been happening to black people in america since the founding of this nation. so i think when we try to have a conversation with people to explain to them that if you can understand and cheer when president trump says, what do you have to lose, that your schools are in shambles, that you have no jobs, then you should also be able to understand why people are in the streets crying out for opportunity, crying out for justice based off the fact that year after year from one election to the next the outcomes for black people cease to change even though we do have ups and downs but the mean curve, seems to not be changing as fast for black people as it is for vast sorts of americans. neil: all right. there were a lot of sympathetic protests going well beyond philadelphia. we're showing some of that right now including brooklyn. marjorie, i'm curious, joe biden did come out last night to protest a lot of the violence and looting going on, that
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paraphrasing here, doesn't help anyone. but i'm wondering if this were to continue, and he is elected president, how would he deal with this? >> well i think what we're lacking the most voice from leadership reframe conversation. this conversation about defunding the police, making it as you said a black and white issue is not a helpful one. there is clearly something happening, joseph is right, it is systemic, it goes beyond the police. it is about education, about access to the system and we're seeing this everywhere. getting to the root, understanding what does community policing mean? not defunding the police, look how we fund infrastructures that keep us safe because everybody wants safety. so i think what is needed in a biden presidency and in a trump presidency is a conversation that is a unifying conversation and it is looking again at the systemic issues that are going on because violence isn't the answer but peaceful
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demonstration is what people are feel something needed. right now looking at polling specifically black women voters, ages 18 to 34 they believe demonstration and voting equally have important weight. so that, again, part of people needing to hear their voices and having their voices heard. this is where leadership, having a productive dialogue, not one that divides further is really important at this time. neil: also means specifics. if he became president, do you think joe biden if he saw this type of violence happening in cities like philadelphia would bring in the national guard? >> i think that, what is important about the biden candidacy is the fact that he also has a black woman part of this conversation because i think it is important we have people representing the groups crying for more support. neil: i understand that. do you think he would bring in the guard. he is has been critical of president igniting more of an issue doing so?
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>> i will not speculate what he will do because i don't know, but what i can say on both sides of this issue people do want safety. he has said he does not think that looting and that violence is an answer and how we meet that is, i guess the question. how can, can we de-escalate what is happening right now? neil: do you think we can, joe, de-escalate this. >> here is the truth. reality apparently joe biden has a secret plan to fight racism the same way he has a secret plan to fight covid, the same way with a secret plan to deal with the supreme court whether to packet or not pack it. to my colleague's point we need leadership. part of the reason why you see decline for support for people crying out for justice because we have movement for equality has been hijacked people want to throw bricks, rather than gather, hold hands, have conversations about the america we all deserve. i think at some point we have to have individuals that will fill
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the vacuum to have the conversation, if we have schools that are not educating our children if we have communities that are completely distracted and disconnected from the people entrusted to enforce law in those communities and the same people crying out for justice don't see accountability for those entrusted to uphold the law we're never going to actually achieve the out comes that we're all striving for. so i think we have to now in this moment, which is difficult in an election focus on those things because elections these days seem to be more about keeping people divided than bringing countries together. >> i agree. neil: hopefully cooler heads prevail after election day. we'll see what happens. joe, thank you very much, joe, marjorie, much appreciated. you probably heard about the dust-up with facebook, about twitter a lot of users of those services don't like the way they feel that conservative thought is stymied or just prevented. have you heard about parler? after this.
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♪. neil: all right. you probably got a chance to see the pile-on of the social media giants, twitter and facebook, to a lesser extent google, but particularly their proclivity to cancel out or make it very difficult for conservative thought to get much weighting. to shut it down, make it next to impossible to, you know, send that, or tweet that to other folks or retweet that, in the case of twitter. a lot of those stocks are rebounding from the bludgeoning they were getting yesterday here but a guy who sort of benefiting from all of this because his site doesn't do that sort of stuff is john matze. the brains behind parler or parlay the french word to speak but it is pronounced parler, right, john? >> you are on parler which is a
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place to have a discussion and create parlays, bridging two sides deathal together in mutual discussion. neil: very interesting. now i know. now i know. all of this happened when we just heard now that twitter is suspended the account of the u.s. custom and border protection commissioner mark morgan over comments he made about the crackdown at the border well are not coming in. they shut it down. he is upset, other conservatives say this, there he goes again. what do you do when you have people use your site, say suspect things or things that you know might not be true, i'm not saying in this case what twitter did was acting on something that wasn't true but it does it a lot, what do you do? >> we get a lot of pressure from people trying to get us to censor posts, parlays specifically and we just don't do it. we have a, what we call a community jury system. so what other social medias
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have, they have moderators there. they kind of work with the company and they're incentivized to do things that are in the best for the pr of the company. instead what we've done, we created a jury system, where you have a jury of your peers who actually judge the parlay based of our terms of service community guidelines which are very, very transparent. in the case of what just happened with twitter that could never happen on parler because i don't think that there is any jury that we have would ever list somebody talking, is discussion about border security and rating that as hate speech because that is what twitter did to the individual in question, that you were speaking of. so we don't do that. that is not our place. neil: have you ever taken material down, that you found, all right, this is a little over the top? >> no. generally speaking, you know, everybody who uses the site, the people on parler, they have tools like muting, blocking,
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filtration. so they can do that themselves. they don't need us to do it. we do have sensitivity filters. like pornography, nudity, gore, unless you market first so people don't have to see it if they don't want to. up to the community to have a discussion. just like our first amendment in the united states a real town square, people to have discussion, talk one another, work this out on our own without the need for us to get involved. neil: all right, that is an interesting premise because obviously twitter and facebook felt there were some cases which they do get involved, if they find something they deem to be either patently offensive or just wrong but the images that they do this disproportionately to conservative thought or conservative publications or the "new york post," for example, and this whole hunter biden story, how would you handle any of that? >> well, you know, for example, with what happened with the
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"new york post," we wouldn't be a part of it. it is none of our business. kind of one of the debates going on is section 230 which is this law. it is really a great law because it protects neutral actors from liability. we're a neutral actor but they aren't. so the idea of a neutral actor when stuff comes in from the "new york post" or the president of the united states, whoever it might be that speaking to the world, we don't get involved, you know, unless it's a violation of the law, unless it's a violation of our ad network or something, trying to circumvent ads. really we don't get involved. that is our position. i have don't know what facebook and twitter are doing. neil: talk about the "new york post" story,. >> 100%. neil: you can talk all you want about it, and you will not prevent users from sharing shart with others, right? you have seems like a more hands-off policy. >> we're completely hands off. not only can people talk about
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the "new york post" article, there is evidence that came out on parler that people have been circulating that is actual tangible evidence that not very many people are even publishing. it is interesting we can get more transparency, more information out by not being involved, let the people decide on their own what they would like to do, what they would like to talk about. neil: so just to be clear, even though you have gotten this attention for being sympathetic to conservative points of view or allowing those who might have been ostracized or cut off from twitter or facebook, you don't look at this as a left or right thing? you're no more inclined to take down more liberal positions than you are conservative ones? you let your users decide, right? >> yeah. our position is not that, you know because we don't really care what your beliefs are, left, right, center. we welcome everybody, right? we want that discussion. we're a facilitator of discussion and we're not really interested in moderating the discussion. and so we call that the
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editorialization of social media which is what facebook and twitter are kind of masters of. neil: interesting. very interesting. john matze, founder, ceo of parler. get a few people involved it's a parlay. i'm well up on all the issues -- >> thank you very much. neil: just that. john, thank you again. all right we have the dow up about 100 points right now but i got to tell you it can change in a millisecond here. that is the kind of day we've been having here. we just want to avoid, many people long the market want to avoid a fourth steep day of losses. the dow has surrendered going into today, 1700 points, one of the worst weeks we've seen prior to an election in american history. stay with us. well have you tried thinkorswim? this is totally customizable,
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♪. neil: you know told you about all the ballots that are already been registered here, close to 80 million of them right now and a couple of states have the freedom to push that back beyond election day three to six days. north carolina, pennsylvania, come to mind. that effort on the part of the administration to sort of clamp down on that was slapped down by no less than the supreme court of the united states. let's go to bryan llenas in beaver, pennsylvania, on impact that will have particularly in pennsylvania. bryan? reporter: hey, neil. yeah, good afternoon. look, the supreme court decision means two big things for pennsylvania. one, mail-in ballots can be received, counted up to three days after election day as long as it is postmarked by then. but look, the supreme court pretty much decided it did knot have as much time before election day, to consider the republican argument, that the three-day extension is
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unconstitutional. number two, the u.s. supreme court has essentially left the door wide open to take the case up after election day. with a convservative majority, thanks to the confirmation of justice amy coney barrett, the three-day extension is in real jeopardy of being struck down. republicans made clear they still intend to pursue this case after the election. the question is, how many pennsylvania mail-in votes will be left, will be really left in the balance, could be affected by a supreme court decision? so in anticipation of litigation after election day, pennsylvania's department of state will segregate mail-in ballots that arrive after election day. we're talking about, a lot of ballots. one in every three registered voters in pennsylvania has received a mail-in ballot. some thee million pennsylvanians have been sent mail-in ballots. two million have already been returned, meaning a million that
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still be need to be returned. so 2/3 of the mail-in ballots in total are for registered democrats. democrats in this state, like pennsylvania's democratic lieutenant governor, are urging voters to hand these ballots in directly. listen. >> at this point i would not absolutely advise anyone using the postal service for their mail-in ballot. you need to hand deliver it to a secured dropbox at a dropbox in your respective counties election bureau. reporter: the u.s. supreme court let stand an extension in north carolina from three days. they have nine days after election day to accept mail-in ballots there. neil? neil: bryan llenas, thank you very much, my friend. i appreciate that. in the meantime you've always known "bar rescue" jon taffer telling me in repeated interviews we need more stimulus, neil.
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think of you as as hospitality , what do you say to have us get past these next several months? >> i love what you said they're counting on me that i can i got the whole thing started, kept them going in the first place. i'm fighting for deductibility, that will be bigger, you will make everything up quickly. that was a great business when you had deductibility, never the same when they ended that probably close to 20 years ago. neil: that was the president with jon taffer, talking about deductibility for meals and eating out, business luncheons and the rest, you can't do anymore, certainly limited. jon taffer made this important part of his life, not only passion from the "bar rescue" fame but popular podcast, the jon taffer podcast.
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jon, very good to have you. no one looks after their friends and colleagues in the hospitality and even the restaurant industry like you do, touche to you there but unfortunately talking to the president, obviously his interest in trying to see some sort of stimulus put together, it doesn't look like it is going to happen, certainly before next week, if at all in the near future. what do you think of that? >> well i asked the president that very question, neil and, he feels that the democrats won't move until after the election. so, he sort of given up the past few weeks on dealing with it until after the election but, you know, he is a hospitality guy, neil, and my purpose in the interview was not to be supportive or combative with the president but get his policies on the table with regard to our industry. i also want to note, neil, we reached out to the biden camp at the same time as the hospitality
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industry wanting to ask the same questions and i have not heard back. this was a bipartisan effort on my part to get these platforms and these important policies on the table and we got three critical policies on the table from the president yesterday. neil: let's talk a little bit about the spike in cases in this country. in new york, other locales, in wisconsin, they're looking at dialing things back for a lot of restaurants, for a lot of bar owners and the rest, this is not welcome news. they're already if they're lucky working at best 25% capacity. some locales maybe 50% but, you clamp down on that like they're doing now in italy, like they're doing in spain, like they're doing in germany, like they're doing in france, it could be game over for a lot of these guys? >> oh, neil, i think hundreds are probably closing today and every day we lose more. so this is a ticking clock. i want to remind us that the
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restaurant industry lost more jobs during the pandemic than any other industry. so this is serious. this affects all of our neighbors. why a new ppp plan is so important. the three big elements that the president committed to, was renewal of the ppp plan. and he specified that the new investigation of the ppp plan, new or extension of the old one would address debt that is big, neil. restaurants sitting on five, six, seven months of debt can get that resolved through the next ppp. he also was very positive about reinstituting the business meal deduction which is big. about 20 years ago when that was removed from the industry sales were really impacted by that. the third commitment we got from the president, he will follow up with the domestic travel incentive which is critical to nevada, florida, destinations like this, that are only going to do well once the airplanes are filled. that was my purpose. i now know i have a hospitality
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guy in president trump. he committed to these key platforms from the industry. i hope we get the same conversation with joe biden. neil: if it were joe biden win, do you think someone would be looking after the hospitality industry? >> even being bipartisan, neil, it worries the heck out of me. when i hear about payroll going up, taxes going up for businesses, energy impacts, all of these layered on top of these others, neil, that is horrifying to a business like ours especially coming out of the pandemic. the ppp plan would get is out much the other side of this. from there the tax deductions can keep us going. neil: jon taffer, thank you very much. ppp refer towing the paycheck protection program. president wants to reignite it. so far no reigniting
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niel: all right, the dow train wreck what was happening and fourth date losing streak. what just happened this week is about the loss of 1700 dow points. one of the worst pre-election weeks we seen an american history. we are down today. but it doesn't hold much traction despite the news in the third quarter we had such a good number. the economy and soaring and at
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33.1 percent. and just about the reversing a similar drop off in the second quarter. the estimates, the quarter over quarter brought the 7 percent to a little higher than hoped it would be. that best way to judge this is the end of the year. a little bit more than 3 percent from where we worth of end of last year. if i were to tell you now in the middle of the pandemic that we would be essentially flat, economically . you would be surprised. but that's a testament of the come back of the economy since then. so it's in the eye of the beholder certainly, the republicans will bring it back in the democrats will say we have a long way to go. both candidates making competing statements but not too far from one another. if florida will be a big battleground issue today. from both candidates, they will be in tampa. more to the point, a little bit later later on, we will be hearing from joe biden.
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he sort of gets out of the delaware area, and right now the big election day, a little more than four days away. hillary has the latest right now from florida. hillary, guess there is no doubt that florida is a big big focus for folks with both campaigns. reporter: that's right now they are showing that today. not only what about be in tampa at some point today. hillary: both candidates and moments from now will be holding dueling rallies here in florida. biden, where we are will be holding a drive-in rally in president trump at the same time, at 130 will be holding a rally in tampa, florida. both candidates really showing that the sunshine state is a must when state for them invited and truck right now are really neck and neck. the politics average of trouble up by just a fraction of a percentage point. the economy here has been a
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voting issue recently for the economy, has been on rebound. outpacing in some ways, nationwide recovery, florida's unemployment claims are trending down afraid of florida has one of the largest decreases for people filed for unemployment last week compared to other states . florida restaurants are also competing about 50 percent of the customers. that is outperforming the national average for restaurants capacity right now. on top of it all you have the record growth out today. this is something the president thank you so giving him momentum. just five days until election day. he tweeted this, the gdp numbers just announced the biggest and best in the history of our country. and not even close, next year will be fantastic. however, we see joe biden and his proposed record-setting tax increase, will kill it all. so glad this great cdp number came out before november 3rd. but biden, is really counting on voters thinking that the gdp
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number, does not paint the whole picture. he issued the statement this morning reacting to those numbers saying that american families need meaningful now, not misleading height, only trump would call this unemployment claims in small business closures, the best ever. and president trump and the administration are getting up of getting control of the virus and doing so, they are giving up on our economy. abide in a truck don't have exactly the same takes. this is with biden and trump on what a campaign rally looks like it, are live camera inside of the guide and event and inside of the trump eventbrite inviting is a driving rally at this community college were people have been filing into the parking lot and they will stay g spots parade and then you have the trump rallies, where people are at the james a stadium in tampa. where the tampa bay buccaneers plate.
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neil. niel: thank you hillary. the factor of that hillary, on the economy in these good numbers. but it's on the economy stupid, as much it is in front as it is the virus stupid. in the increase, not everywhere, but enough that it has people wondering whether we can be revisiting some serious stuff. sigel has been keeping track of these cases right now are you have 29 states that are looking at a record of daily increase numbers. the latest now from kc in dallas. reporter: this third wave of infection has been feared all along as we started heading into the winter months in the flu season brightest to take a look at this map showing 24 states now been reached a record high number of new daily covid-19 infections. but any on that list by the way, not places we were reporting to you over the summer months. like you're in texas, florida,
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arizona, california. now we're talking places places like indiana, kentucky, ohio, utah. listen to this, with a health officials saying that icu beds will be full statewide into weeks weeks. if things keep up. all of this is the race to develop the vaccine is on between multiple manufacturers. in the governors of nevada, oregon and washington state say they will now join california having independent experts review any federally approved vaccines before it is given to people in their states. it california's governor maintains it will delay however, the availability. >> we would argue quite the contrary, it will increase transparency and trust. that i think we are looking for to make sure we are not doing anything to meet an arbitrary deadline or political deadline read. niel: the pandemic continues to take its toll at well-known
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public events and boston marathon 202142 things are postponed or canceled, the 120th year for the race traditionally held in april, now pushed organizers say at least until the fall. neil. niel: thank you my friend. following all of that, it is back to the virus being front and center. how much of the dominating issues, especially in the battleground states where we have seen these particular sites, particular worrisome. it in the democratic strategists fox news contributor, and republican strategist as well. it in global portfolio. a manager, you guys are donald trump, in tampa and the president, or the vic and joe bn prayed in florida so we are waiting to hear from them but the fact of the matter is my will begin with you that this notion about how it's going to look like the markets, obviously
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the kind of thing that gets people thinking. forget about whether i can make money off of the booming economy. all bets are off if we start saying the spread lockdowns and shutdowns and restrictions in the likes of which are building in europe. how do you digest that. >> i think that it's a neil. because what is missing is the stimulus. the fiscal stimulus. that is sidelined so it creates as an investor to be honest, i'm extending my time. i am saying that at some point, hopefully as early as 2021, we will have this virus in the medical side of things in the fiscal stimulus as well. we will kind get through this. this will be a lot of volatility surrounding the virus itself. and obviously around the election. niel: you know john, i don't mean to distress but do you
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think it's wise for him to say that we rounded a bend. but all of this media sensation, the numbers are with the numbers are. maybe you can look at a percentage of 100,000 americans but how that stacks up against the countries abroad but these spikes are real. and i wonder about the impact it has when the president is publicly dismissing them. so going to hurt him in the very key battleground states for which it is gotten to be very big problem. jon: i think it is both a risk and an opportunity for the presidency. i think you're right on the one hand that you need to speak to the realness of what is going on in terms of the spike in cases but you also, president trump and i see what he is trying to do and perhaps he could be a little bit more articulate in pushing forward in this homestretch. predicting the strength and the positivity and the optimism that we will round the corner that we won't shut down the united states again . that the economy
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will bounce back better than ever. versus on the debate with joe biden which we are entering a dark dark winter. we will follow whatever the scientists say. it is an opportunity and trump needs to connected to about what is real about the virus and remaining positive and optimistic that we will get through this better than ever in the economy. niel: that be turned that around for you in this sense. the president could just as easily say that these spikes in cases, nothing compared to what is happening in europe and some of the model countries that sort of the standard there. and how you handle the virus. germany comes to mind, france comes to mind. they are all in the world of hurt right now. in initiating the lockdowns another restrictions, curfews. so this notion the joe biden as particularly unique donald trump created problem. it is not. but how do you think that plays
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out. >> you are right that is not a unique donald trump created problem. but what is unique is that donald trump new pastor is the virus was and misled the american public and some of the problem that is facing now and his reelection effort is that the public does not trust him on the number one issue. i appreciate how delicate john was about the opportunities that the president has reliably be could have done this a lot better and said that i know that you are hurting. i know that you are lost loved ones. no financially the economy needs to get back on track of my priority is american south. i want to get to open as soon as possible but i want to do it safely and responsibly. this might have worked if you look at all of the polling on this, joe biden is tracking him and who better to candle the coronavirus, the number one issue. and i were seeing an uptick on biden being able to handle the economy better than president trump as well because as we know from the 2018 term, healthcare
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is noneconomic issue for people. we saw nearly 30 million people out of work. as a result of the coronavirus . those two things are linked and the president is not connected the dots. niel: i could dispute some of the things that joe biden said he would be doing better everything that donald trump is doing. but leaving that aside, i am curious jack about how this election goes down. maybe one of the first in history where the economy is not the issue. and that would be a first. and it would call our attention to the fallout from this. there is already number of states of recommending that you, the keeping the crowds and thanksgiving dinner. another say keep crowds altogether away. a perfectly fine that kind of a strategy. myself but, i'm just wondering what you make of the fallout will be when people get wind of that. what are they say say about thanksgiving and what is going on for the holidays.
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this really actually contributes to the sort of negative sentiment. it seems to be building. jack: yes, there's a war between, the people owning equities, they've actually done well. sorry heat sink higher consumer confidence in some ways. so around the pandemic and you know it is legit. nothing people will contain themselves and not go out. you layer on top of that, there's a good chance were not going to know who wins the white house next to zero yet alone, control the senate. there's going to be a lot of uncertainty, that the market has to digest over the next couple of months at least. niel: john, do you believe there will or we might know very quickly the winner is. along that would be continued on
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one candidate, winning bite and then decide in its building on this week long, month-long or whatever it might not be. jon: no, really two schools of thoughts as it relates to the polling. if you believe the public fully and internet model he sent and should be a fairly decisive when provided. but there is a credible arguments to make. there really this is about who will turn out, the democrats are shifting from election take voters to the early date voters. in the trump supporters are going to show up in mass on election day. and trump is utilizing his greatest strength right now which is his ability to draw the crowds to the rallies and brought immediate attention in these important battleground states . and pulling is a lagging indicator. it tells where we work a week or two ago. it does not tell us where we are exactly today. in this what president trump is trying to shift . so there is still time and if trump is able to do what we are able to know
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we were talking about, connecting the dots. there is time and if he gets it there, then you'll, it may be a long night on tuesday. maybe a long few weeks. it. niel: is revealing just how old i am. but i distinctly remember covering them michael campaign in 1988 . in the waiting parts of that campaign, he had humongous rallies. as far as the eye can see and a lot of people look to the rallies as a do indicate all of that. not minimizing that . and certainly not donald trump now. but it is not the end-all and this idea where the costco and he's indicated that joe biden has, that is doing at this at a safety concern and all . not to be a super spreader. but the crowd thing, is overstated. that we might be missing something beneath the surface here.
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>> i certainly don't remember that crowd, four years old. i will ask my parents so about how that was. [laughter]. but just give me a moment in the sun. but it will say about crowds, not even using this example about donald trump. look at bernie sanders. he had by far and away the biggest crowds in the 2016 primaries. and again in 2020. left-wing progressives grant for bernie sanders presidency. and he showed up at the polls, hillary clinton voters in the joe biden voters. and they want both of those i'm very decidedly. so don't think necessarily being able to drop a crowd of 20 or 30000 people by the way in conditions when they should not be out there. because in nebraska the president even left his supporters out of the call that for a rally without bus transportation back to the cars. i don't think it is telling the stories. [inaudible]. niel: you cannot blame donald
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trump for leaving people out without buses at a rally. >> okay listen me cheap and is a little less. i can blame his campaign who said they had transportation arrange for who left the cars. so is a personal responsible for everything, but it was his rally in their old people out of the cold while we are having a covid-19 outbreak. his talk right . niel: will the caucus did not provide buses for anybody. they tell you you are on your own. that was my point. guys, thank you all very much. we've got the dow up, i told you about it just cannot mean any traction one way or another. and last friday, we hear a lot of people are saying is the anniversary of the october 29 crash. yes, is anyone years ago and this is nothing like that.
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living of our two half million customers along the gulf coast, and it is now, can go all of the way up to the northeast. it's just a line swamp of rain mess. this is one of the worst parking and storm season that we have seen. and certainly, we have had it since at least 2005 . in the meantime, you're looking at the markets waiting for some big
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last week or so. did arrive too far too fast. and it allowed the investors to say all right, i don't want to get greedy. so some want to the prophets and run. when you tell that crowd. >> and there has been a run-up of course. but there's good reasons for it. but instead in contrast to the bubble around 2,002,001 where we saw a lot of companies and frankly didn't deserve to exist.
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but this time you're dealing with an organization, that the consumers love them. microsoft is primarily an infrastructure company. and companies are building out for what they have seen going on. so you see all of this activity. you need infrastructure for it is a microsoft can and has been very solid in that regard in terms of their not only their cloud offerings with the tools that go along with all of this. and then consumers are home. so consequentially the importance have been emphasized. so you see a lot of good things that are fair during a company that deals with infrastructure. in terms of social media and the like, the more time the folks are spending at home, they going to rely on these things and become more involved in them. so that is what is happened. so your phone becomes more important. the contact that you have with
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that hand for that uncle or friend . becomes more important. and from the standpoint of corporate infrastructure becomes key because you've all of a sudden got this huge demand. niel: finally, the election is just a few days away here. i'm wondering giving this social media coming to getting out here, for the public and the democrats versus the republicans. some think they have gotten too big for their riches. but it will be environments we should joe biden get elected. full be at market difference. will there be a lot more zeal to go after these guys. how do you see this. jon: in o'neill, antitrust laws is all about harm. are you doing anyone any harm. with microsoft, back in the old days in the browser word, frankly no one was getting harmed. that was one of the problems without law suit . people
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struggle with it. everybody is happy because they got more and more capabilities. that is much different than today when there you have the government to being harmed on both sides so to speak. so what you saw yesterday is a bunch of angry people. some people are saying that your allowing content and the other group is saying that you should be taking down the content more quickly. it is all over the map. so they are in trouble because of the fact that they are creating what is deemed as harm by the very people that make the laws. niel: well put. good catching up with you bob. former chief officer of microsoft. true to his point. was a no nonsense with style. it he didn't use anything or try to have anything, he just caught and had called it as he saw it. and that led people decided down the road. and to this day microsoft, well
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niel: is all about the 29 electoral votes in florida. the president is getting ready to meet a huge crowd in florida for you will soon be hearing from joe biden, he too is at a proverbial place. within is just the latest indication of how important the swing state will be. we expect the virus to be a big topic and discussion. the president is saying with the media. it is very real. and in the european continent right now, number of countries are reimposing lockdowns and
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research and measures. it likes of which we have not seen since the height of the pandemic. amy right now is in italy of where they are leading that charge. amy. >> yes we are doing everything here to avoid another lockdown. amy: but for all intensive purposes, italy is sort of been a lockdown tapering to germany today, they were warned it will be a very tough winter. and obviously is no surprise for any of the spread of the sheep is just funny her decision to put germany which dealt so will relatively speaking with the coronavirus crisis last spring. she's justifying their decision, taking these harsh measures by saying that at this point neo, three quarters of new coronavirus infections in that country are not traceable. in france, they're going into lockdown at midnight which is technically on friday. tomorrow, at the rate they are
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going, at the current spread of the covid-19, the president there said that all icu beds would be full by amended november. if the serious measures not were not taken. he said bringing the daily number of new infections down from the current 40 or 50000 to 5000 . like germany, the schools this time will remain open rated and the kids being kept town only aggravates the problem of inequality in the society and with the poor kids less likely to get the support they need home. and defending her decision in front of parliament today as well. she is taking shots, gems, braunfels, yes, that is on the list as well. it they will all be closed for months. and they called the covid-19 denier simply reckless.
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and she said we are in a dramatic situation at the beginning of this cold season and that affects us all. in the situation is worrisome and cannot be talked away. and wishful thinking while populist are just untruthful and they are irresponsible. and as i neil, italy is doing all it can to avoid the lockdowns. there are curfews in any places, and restaurants that close at 6:00 o'clock at night. and so the hospitality industry and daytime lunches and whatnot are not really happening when people are working from home. there's been a lot of protest here. in italy the last week. people went very willingly with the restrictions the first time around. there is fear of poverty. so were waiting to see what they ultimately decide the cases here
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search. niel: if you think about it, italy may be more so than germany, it's how you doing something when you are hit hard by yet for all of that, they are experiencing this again. that is what is tied to the fears in this country. the same thing could happen. i can understand saying that folks are saying here we go again freighted with the irony as were doing everything right. >> they were. italy was kind of the poster child after it was initially hit. and they were hit hard. they cleaned up the fact that it was very strict and very clear. the cases went down after the lockdowns. and we were very proud of how i was going into not known for discipline really internationally. the recently in last month, the cases have surged. niel: is amazing amy. thank you much. , it's a beautiful city there.
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i want to go to rebecca on this and other get into with her. rebecca, people look at what is going on there in italy. they hear what is going on in portugal and certainly and in germany. in their wondering those guys are doing everything they should've been doing in their experiencing things should not be happening yet they are. i wonder what you think the fallout of that will be. rebecca: we are still learning about this novel coronavirus freedom are learning about how it behaves. i think that is something we are learning about how to mitigate its effects freighted to those politicians, taking a victory lap. they're taking credit for kind of a quieting of cases that have gone on. that was premature because were going through another wave. were going to have to adjust how we view this. weigh in on some of the cost that you heard, very concerned about how damaging the schoolchildren is who are being kept out of school now that it's
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actually very bad for poor children especially. so the politicians are going have to wait how we deal with this and settle in for the long term i think. niel: there is the terrorism again and in france, a second time in two weeks. it there confirming that it was. and they rated a church. and decapitated one woman and two others were killed. and several others wounded. so this was 13 days after a teacher was decapitated in paris. i am wondering, what the heck is going on over there. because in any other day, this would obviously be lead broadcast news. the pandemic is sort of moved it down the broadcast bench a little bit. it seems like this is reigniting itself. amy: think of france. it is about ready to go under another crack down to stay inside again because of the virus. another dealing with this wave
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of islamic extremism . and point out that there was more catholic worshipers and mass. they were calibrated in this comes on the heels of a middle school teacher who was showing a picture of some who muslims believe is the prophet mohammed it would be offensive to him. in these middle school students, what freedom of expression is. that is why you showing it to them. and he was brutally murdered. hopefully the streets. placing rather than kind of cowering, and saying we should not have these offensive pictures shown, is defending the right to what he says to defend and say that's an identity. so now there is a big crackdown and a temporary shutting down the french authorities have said is spreading this ideology that is separate and that is going to continue i think in this coming months and years i'm afraid.
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niel: rebecca, thank you. here it's amazing. rebecca calling this very closely. in the dow spreading up to 173 points right now and were waiting to hear from the president of the united states of tampa. it also going to hear from the biden in florida. electoral votes, 29 of them, donald trump four years ago, he took six out of eight out of the battleground states. that was then. when you think happens now.
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economic news . the record news on the gdp in the latest . were expecting it to be 33.1 percent essentially wiping out the 30 percent decline we had in the second quarter. we go from the worst order in american history to the best corner in american history. and then optimism about holiday sales . keep in mind, that already there hiring 100,000 folks for the holidays to deal with a rush of new business and a host of others that are already offering more of the big sales. within a matter of days to encourage the buyers. they're finding plenty of ample demand there. the retail analyst extraordinaire . good were different reads on this. some who are so optimistic to others for quite literally betting in panama front for what they think will be a lot of business. he was right.
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amy: it is all relative. as we do accept a 33 percent increase in spending this holiday season year over year. that's nearly double the rate of the increase that we have seen in the past . lester, we saw a really strong year so that is saying a lot however as you just mentioned, and jenny pete, that we only expect 4 percent growth in year four. so this is still almost double what we were saying eight years ago. so i think you toys make a case either direction. if i do think that we are in for a very strong holiday season. sue and that might be why the ups ego was talking about the busy holiday shopping season and having a trouble keeping up with all demand. but i wonder if these reports, in these cases with a lockdowns that are going on in europe. nothing a severe as the pandemic might add. but enough that is getting people pause. does it gives people with reason
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to say wait a minute. i don't know if i will spend so much. i don't know if i'll spend it all. >> is actually quite the opposite because we not expected to have a big holiday gatherings. were not going to go and have as any experiences outside of the house this year. of people are instead putting their money towards buying gifts. making sure their loved ones feel taken care of and appreciated through sending them gifts. so that is part of why we also see everything shifted up this year. select friday is still an event beryllium or near in europe, we have seen black friday, cyber monday then it became cyber week. and now we have cyber month. so we've already started her holiday shopping. niel: thank you there's a lot of optimism. you don't get together with
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shortly. later on in broward county we'll hear from joe biden who is feeling very optimistic about his polling fortunes in the sunshine state. this comes at a time we see the spike in cases by the way particularly in the state of florida where they have seen a 21% increase in new cases. we have 72,000 being tested positive for the virus every day over the past week. that is the highest number has been averaging on a daily basis over seven day period. 22% in wisconsin. 33% i should say in pennsylvania. i could go on and on hire. suffice it to say, 40 states are experiencing some of these spikes. i hasten to add, when it comes to hospitalizations, worst case scenarios that is not materializing. that is something the president will no doubt pound when he speaks to the floridians gathering to hear him. i should point out a number of governors across the country are taking measures to make sure
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things don't get out of hand. i told you about efforts in california to cut back on crowd sizes for thanks giving, keep the family gatters small. governor cuomo is discouraging large thanks giving gatherings. same thing looked at in the washington, d.c., area. the message for all. have a wonderful thanksgiving, when it comes to overdoing it with large crowds. probably better to have less face time. we'll have more after this. ♪ derriere discomfort.
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neil: all right. the, having a bit of a comeback here substantial one after the worst selloff in months. technology stocks are leading the surge. two earnings announced after the bell, amazon and apple. we'll see if it holds. now charles payne. hey, charles. stuart: thank you very much, my friend. i'm charles payne this is "making money." breaking right now president trump and joe biden with dueling rallies in florida at this hour. both are focused on turning out the vote between now and tuesday. we'll have latest from the campaign trail with gop chairwoman ronna mcdaniel in a few moments. wall street trying to find equalibrium after blockbuster economic numbers sparked a early bounce. there are many questions as we'll try to resolve some. we'll dive into the markets. here is the thing, folks. we know about the selling. what about the opportunities and investable
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