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tv   Cavuto Coast to Coast  FOX Business  February 16, 2021 12:00pm-2:01pm EST

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4:00 this afternoon. i will be on the show. >> two things i want to hear his views. bitcoin and riding bond yields. stuart: trouble he is interviewing me. i'm not infer viewing him. i will figure it out. time is up for me. neil, it is yours, take it. neil: we're looking what happened to the big triple-digit rally we saw in the dow. a lot of this could have to do with higher energy prices in the face of these storms that are being experienced by about 200 million americans. winter unlike any we've seen certainly in recent years. that has been weighing certainly on the markets here. a lot of businesses are plain ol' shut down in the interim. we'll look at that in more detail. look at the spike in oil, natural gas, a host of other investments. i might point out bitcoin. in case you haven't watched, it
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is over $50,000. a lot of people are saying it is gaining cachet. a lot of people are interested in this investment as an alternative to what we have seen. now dip down a little bit from his highs in the morning here. the fact so many more pedigree companies are looking utilizing it or endorsing it, that is the win at its back. we'll follow that very, very closely. following a special treat later on in the show, bernie marcus, arthur blank, the cofounders of home depot, what they're doing to help our nation's veterans to deal with stress. it is sweeping. it is big. it is here. only here as they announce a joint initiative to help our soldiers out, past, present, those concerned about in the future. only on "coast to coast". welcome back. happy fat tuesday everybody. when i first heard that, what do they mean by that? that is the first day before
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lent. that is leading a fat rise up in energy prices. compound by the storm that buffetted much of the northeast, atlantic coast in texas where they're experiencing freezing conditions right now. a lot of folks still without power. casey stegall with the latest out of dallas. how are things looking there now? reporter: neil, it is awfully cold. the sun is not out. a lot of the precipitation that fell on sunday, over into monday is not having a chance to melt. guess what? there is even more on the way. another two to four inches we could pick up of snow here in the dallas-ft. worth area starting tonight and into the overnight hours. parts of texas expecting some freezing rain. and that makes the roads even worse. much more dangerous. that will add to everything that is already out there on the ground, on the roads. temperatures in fact not expected to get above freezing until at least friday across
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much of texas. that will continue putting stress on the state's electrical grid. more than 4.4 million texans, 4.4 million are still without electricity right now. many families in fact taking turns to warm up in their cars as windchills overnight dropped below zero again. >> making things difficult. i can't cook anything. like i said, most of the things are closed or, i don't want to risk going out because people are not able to drive in the roads that are not treated properly. reporter: in oregon, i.c.e. -- ice continues to be the problem. 220,000 out of pow. stuart. struck ram damage reported to buildings because the ice is so heavy. look at pictures in kentucky. several inches of snow coating roadways, making for dangerous drives conditions, up to five
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inches of snow across the louisville metro area. several fatal car accidents in the state. school has been canceled in a lot of states experiencing this winter blast. neil. neil: casey, thank you very, very, much. unusual to see this sort of thing in texas, let alone much of the south and elsewhere. update on runup for energy prices natural gas and run-up in yields that took a bite out of the dow. as energy stokes might benefit in an environment like this, fixed income investments generally do not. 10-year note, 30 year bond, what have you, some of these, take a look at a 10-year note. remember back around august of last year this was below .6%. 30 year well over 2%. again these are coming off very,
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very low levels to begin with but it is a trend that continues to pick up steam here. obviously makes our debt a little bit more expensive. so we're following that. we're following news, general motors is canceling shift product right now at the spring hill, tennessee, plant. fedex says if you're waiting on packages you might be waiting a little longer. hasn't detailed how it is affecting to pick up and deliver packages. the fact it is noting it. these two companies are saying this storm is going to hit them and affect their ability to do business. so a lot of them are unable to do business here. how bad does this get on the energy front? let's go to phil flynn. phil, you talked about it last week but the environment was already in favor of higher prices with building demand. the storm sort of speeds that up, doesn't it? >> it really does. really takes the sheets off of the green energy deal. i mean what you're seeing here,
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neil, a preview of the new green energy deal. energy sources are not reliable when there is a lot of stress in the marketplace. this is why you can see more and more rolling blackouts in this country because we're depending on less reliable forms of energy. not to say that solar, wind isn't part of the solution. rely on it too much, see what happened in texas, when you're not prepared for extreme weather, they freeze up. you can't use them. solar panels are useless. you depend on oil and gas, it has problems, for freeze-offs. thank goodness for natural gas or things would be a lot worse in texas today. neil: i wonder about this has a spill-over effect, talking storms, hurricanes, that sort of thing in the past, there is a brief hit. the price of everything from oil to gas, what have you, but you think there are underlying
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fundamentals here that could keep this going a while, right? >> i think there is. obviously when you have the big cold front things warm up a bit, prices come down but i think there is some underlying fundamentals here that show that we're facing an energy market in this country that is undersupplied. and i think that we're not acknowledging that fact with some of the policies coming down from the biden administration where they're focused more on climate change than they are on meeting demands for the economy. already the trickle-down effect is really hitting the economy. we're going to feel ramifications from this. we heard some of the milk producers in texas have to shut down because they can't get electricity, throwing milk away. corporations can't work because of power outages. they will be laying people off. so the ramifications of not being prepared for this kind of a situation is something we need to learn from, get prepared from in the future. i hope the politicians in washington learn a lesson from
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this, you know, be a little bit smarter about making draconian moves to alternative energies when they still have a lot of issues. neil: yeah. timing is everything. thank you very much, phil. we'll be catching up with you later, get an update on this. meantime washington done with the whole impeachment trial things. that is put to bed. nancy pelosi wants a 9/11 type commission going to look at origins of the january 6th attack on the capitol. it is full throttle on the $1.9 trillion stimulus plan. that used to be a slam-dunk which the markets enjoyed because they're worried about deficits and debt anymore. progressives started adding things to this plan including a 15-dollar minimum wage and more money for cities and states republicans say goes back to the problems they had long before the pandemic. they're not keen on it. this is not looking like a sure thing anymore.
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the read from mark hamrick, economic analyst and lee carter here as well. lee, i'm wondering it's a $1.9 trillion plan. the devil is in the details. some of the details people had a chance to peak at, they don't like the $15 minimum wage part. they think that could disrupt this, not the time to push it even if you are for it. what is the fallout? >> some people are against it but widely popular. 61% of americans are for a $15 minimum wage. this bill is popular for 70% of americans. it will be really, really hard to fight. what people don't like playing politics, trying to get their way things don't necessarily buy long. republicans have a tough job ahead of them, they have to tell a story that lets the american people know we're fighting for you. here is what we're fighting for, we're fighting against this bill really seems like a good idea to you. that is a tough place to be in. because they're reacting, looks like they're taking away things
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that will benefit working class americans right now. it will look, be a very, very difficult challenge for republicans to become the party of the working class when they're fighting against something that is seen so much for the american people. neil: you know what? still, mark, a lot of americans are surprised to learn that we haven't spent a trillion dollars of the stimulus that is already been granted. when they hear that they're a little stunned. i'm just wondering if this back and forth continues or to lee's point, are people saying we know washington fritters away a lot of money. that is just what they do, but now is not the time to argue cost. let's throw as much as we can on that, see what sticks and fingers crossed. what do you think? >> i probably somewhere in between, neil. good to see you. i'm right now a little skeptical that we'll see that whole 1.9 trillion pushed through. because i feel like you know, the biden administration and senate democrats basically had a
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wish-list that included that 15-dollar an hour minimum wage which ultimately has nothing to do with the problem at hand, other than the fact we have had wealth and income inequality exacerbated by this downturn. it might be seen as a convenient time to push it through. it is also an inconvenient time when you think about all the employers who would be affected. that is the old proverbial devil in the details. when would it be implemented? how does it apply the same everywhere across the country. i feel like they would be willing to back off the minimum wage for now, if it were in the cause of much of the rest of the legislation. neil: i wonder, lee, whether republicans are united on anything though. obviously they're still smarting from the impeachment fight and seven senators who voted to convict the president. at least several of them being targeted by their state gop
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functionaries censoring them. bill cassidy, richard burr, has to deal with, punished by your own party, i'm wondering if they're all on the same page here? there seems to be establishment republicans versus the so-called trump republicans who don't see eye-to-eye on lots of stuff, maybe including stimulus? >> i think you're absolutely right. i think we have a very, very fractured republican party needs to figure out who they are going to be and it will take a little bit of time right now, there are wounds, that are deep and differences very real. i do think the republicans have won common goal right now and that is to make sure that they are together at least in this. they can't lose right off the bat. i think the bottom line is this, joe biden has promised to be the president of unity. if he goes out here without some level of bipartisan support, without some level of
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compromise, he is going to be setting up the rest of his administration to be pretty contentious. i think he understands politics. i think republicans understand they need to have at least one small victory here. if it is about killing the 15-dollar minimum wage in order to get this passed they will have to have something both symbolic and important that they didn't give up everything. republicans can win on. they can't lose everything but have to win on something. i think they all agree on that. the meanwhile the party has to decide what are they going to be? what is their message? what is their north star? i think it will be a tough road for them. neil: lee, final word on that. i want to get you both back in a couple of segments. we'll look at that, how the virus sim packing spending and the like might necessitate including that stimulus plan. when you dig into the numbers, they're not promising as the cases themselves that do look
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promising. more on that in a second. bitcoin in and out of the 50,000-dollar level. we were first to bee loan as soon as a fringe investment enjoys support from the establishment, whether it was tesla investing in this or bny mellon, paypal, mastercard, today microstrategy, it has some street cred. folks. charlie gasparino on that. ♪.
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♪. is bitcoin going mainstream. something has to explain the fact it is in and out of all-time highs. briefly hopping over $50,000 earlier. a little north of $48,333,000. the latest catalysts are all these so-called establishment companies that are dabbling in, or interested in the digital currency. tesla you heard first off. bny mellon and mastercard, paypal, microstrategy is interested in selling convertible debt to buy some bitcoin. charlie gasparino, what are we
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looking at? >> well we're either on the verge of the newest new thing, the next google or, amazon, or we're on the verge of the next pets.com. i cannot tell you what it is going to be. i referred to the pets.com as one of the notable busts during the dot-com era. there is increased mainstream interest in bitcoin, that is pumping up the price. there are fears of inflation. i can tell you when you talk to trading sources, i need to do all the time, the notion we'll get a vaccine roll out soon. it will accelerate. it will make people spend more on top of all the spending democrats and joe biden are putting into the covid relief package has people talking about inflation. it may not be inflation of the type that you or i grew up with in the 70s, inflation on food and stuff like that, but you could get inflation in many other areas including houses prices and financial assets.
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that is all, you know, factoring in to this notion bitcoin should be trading at $550,000. it is massive runup is remarkable. i will say this though, neil, when you can buy a hamburger anytime of the day with a bitcoin, you know it is really a thing. we are not quite at that place yet. what you have right now are people betting that might happen, given the fact that elon musk is involved, that others are starting to dabble in this thing. it is something that could become very big. they're also dabbling it, because it is theoretically and inflation hedge. like i said, if you're going to be debase the currency, which you theoretically are, printing money, massive spending, the dollar theoretically, long term worth less. alternative forms of currency become worth more. if you go back to hyperinflation eras, particularly during the
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germany, there were alternative currencies. i was reading a little bit today. bitcoin is one of those. i can't tell you that bitcoin in the next big thing i can tell you reasons why this is happening. it may be the next big thing. there is chance it may not. you're getting in at 50,000. 50,000 looks a little bit like buying gamestop at $500 a share. you know where gamestop is trading now. we'll hear a lot about gamestop later in the week when the house financial services has hearings on the trading frenzy, the short squeeze involving highly shorted stocks, penny stocks that traded like amazon for a few weeks. i would just say one other thing here, neil. people have a lot of time on their hands to trade and speculate. when you keep interest rates this low, you have something like robinhood makes it easy to trade. neil: yeah. >> you will get bubbles this could be one of those.
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back to you. neil: thank you, my friend, very, very much. charlie gasparino on the bitcoin rise. i just keep track as charlie touched on a mainstream companies you want to call them that. that helped give bitcoin investment like that street cred. things started really turning around in substantive way for bitcoin when tesla was the first to commit 1 1/2 million dollars to find a venue for which potential tesla buyers could purchase these vehicles. it extended to bny mellon, using it as sort of an advance investment alternative at the bank. a means by which you can buy and sell a bitcoin. mastercard, indirectly paypal, as i said. microstrategy to set a convertible debt offering. that would be used to buy bitcoin. so you are hearing more and more of this. sometimes where there is smoke there is investment fire. we'll follow it for you. we're also following the latest right now on the great numbers we're getting on covid. the seven-day average.
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that is the lowest it has been since before thanksgiving. promising news on the vaccine front. the administration certainly by mid to late summer, 300 million such doses, vaccines will have been out there. now whether that is including double doses which means that it is 150 million americans who can benefit, no matter how you slice it, the good news is out there. so why are some still worried. after this. ♪.
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neil: all right. the battle to get more covid-19 vaccines out there to the american people but the trouble with the covid-19 vaccines is there is no shortage of them. in fact they're accelerating at an exponential rate here.
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the problem is in getting it to peoples arms in final so-called mile. it's a lot easier said than done. jonathan serrie following all of this with a number of states trying to widen the pool, widening eligibility. even with that, jonathan, it is still a slow go, isn't it? reporter: case in point california. on march 15, they plan to expand the availability to people under the age of 65. this would be people 16 and up with comorbidities. in other words health problems that put them at greater risk for severe complications from covid-19. now on a national basis the u.s. is averaging 1.7 million shots per day. states are now receiving about 11 million doses from the federal government each week. governors say they're going through subpoena plys very quickly. san francisco temporarily had to close two of the city's largest vaccination sites due to limited number of doses. nevada is allowing casinos to increase indoor occupancy
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limits. they had been capped at 25%. now they have expanded to 35%. however businesses deemed as high-risk, adult entertainment establishments and nightclubs will remain closed at least until the beginning of may. the coronavirus pandemic is affecting mardi gras celebrations. instead of parade floats new orleans residents are decorating houses for spectators to enjoy as they drive by in their cars. >> we watched the temperature drop at our house. 55. we're at 53 now. we're going to sit in the car for a little bit to keep warm. reporter: the u.s. is reporting its lowest daily coronavirus cases since october but, federal health officials are still urging people to mask up and practice social distancing because there are those dangerous variants in circulation. they want to keep them down until as many americans as possible get their shots.
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neil? neil: all right. jonathan, thank you very much. my friend jonathan serrie following latest developments. he is in cdc land. as you know the cdc is now very strongly recommending americans wear two masks. it goes even further toward decreasing risk of not only contracting the virus than giving it to everyone else. that is the final two mask thing. two masks are going to be around for a while. guys, we touched on this earlier, this notion, maybe nor than stimulus, maybe more than on the energy front, the progress with vaccines ultimately will decide not only as we as a nation counter covid-19 but get past it. for the economy, the markets. i'm just wondering, mark, whether some of these latest developments more vaccines are
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coming out, the pace is picking up dramatically. there is a lot of division in states how to handle it, who gets it all that, but the trend could be the friend. what do you think? >> absolutely, neil, we are basically a year into this. i feel i have to go through a process about once a day or so just level set, to remember, oh, we're in a pandemic. i have been working at home and you know, i still need to put a tie on. the level setting also i think has to include the fact that i really feel like we have yet to hear from the biden administration with respect to an effort about educating the public broadly, about the need to get vaccines at a time when we know that that is at some level a divisive issue. i've been sort of waiting for this buy bonds go back to world war ii notion where we get a huge cross-section of authorities or influencers to
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speak to the public to say, you know, we need everybody to be all-in on this. maybe that is still in the works but you know, it is not going to be good enough if we only get 60% of the population. also not going to be good enough if there are still going to be people who don't believe the vaccine is as effective as the science tells us that it is. all that is going to be very important about opening up the economy. so that we can go towards that revenge spending that i'm hearing more and more about. neil: yeah. you have, definitely getting a lot of talk. lee carter, the problem isn't the vaccines. they're coming out fast and furiously right now. what happens is they still remain stuck in park depending on the state that either can't distribute them properly or sits on its you know what to sort of see what they're going to do, various states have different standards. some as young as 16, put in the line. you have to be 70 plus to be in
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the line. i'm just wondering if the irony is, vaccines are out. there will be 300 million such doses by the end of the year, more than enough to cover at least half the population, i'm counting those at double doses, yet it is not getting out there, what is the boomerang effect here? >> it is not getting out there. it is really a disgrace. my mother and stepdad are eligible in new jersey. they can't get the vaccine. it is frustrating to no end. if they were able to get out they would be contributing more to the economy. they would be contributing more to our rebound. we need to get this into the hands of people who need it. we need to do it quickly. i think the reason we haven't seen a campaign getting people more comfortable with the vaccine, because we can't meet demand we will have. if we increase demand, more trouble and more people will be outraged by the problem we have. we have a cure came out, a vaccine came out in record time. we can't get it into the arms of people. this isn't, we can blame
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donald trump all we want but we need to look at the states and the plans that they have in distribution. the fact that there isn't a better plan to get a vaccine into the hands of the american people, needs to be held at the state level. we need to look why not. we've known there could be an issue, whether it was a pandemic or something else we needed to be able to distribute something quickly. people need to be held accountable and need to look at it. you're exactly right. our economy is being held up by this. we can debate all we want if it will be a v-shaped recovery, k-shaped recovery. we will not know until enough people are comfortable until we get out there to get in their lives again. neil: we're not there. thank you very, very much. we're following breaking news on a possible boycott of the chinese winter olympics next year. joe biden will spell it out. the last time we have seen a boycott of any sort back in 1984, when the soviet responded tit-for-tat of our boycott of the soviet olympics and protesting not appearing in the
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neil: all right, could we actually boycott the china winter olympics next year? don't slough it off. apparently the biden administration is giving serious thought. we might get a better idea where the president stands on all of this, a tempest is building? a teapot here. rich edson has more at the state department where this might be going. reporter: this is an effort building in congress. a state department briefing is starting in five minutes. in congress, one congressman who is saying that the united states
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should boycott the 2022 winter olympics if the international olympic committee refuses to move the games from beijing. this is congressman michael waltz. he is working with democrats and republicans to join in this effort. >> we have to look at the legitimacy the olympic games provides the dictatorships and we have to take a tougher stand. that is what we're calling on the biden administration to do, and they need to live up to their rhetoric. reporter: he cites china's repression in hong kong, control of religions in china. suppression of information about covid-19 and genocide and interment of uyghurs in shin seng province. anthony blinken called the chinese government's campaign as genocide. asked whether the u.s. should boycott the olympics. the state department last week would say that the games are a
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year away. the u.s. is consulting with its allies. the united states has been criticized for both attending and boycotting olympic games. in 1980, the u.s.-led a boycott over 60 countries in moscow over the soviet union invasion of afghanistan. on the 40th anniversary of that boycott the u.s. olympic committee no athlete should have to miss out on the olympics or paraolympics for political reasons. the u.s. team has been criticized for attending olympic games back in 1936. those in berlin, germany, during the dictatorship of ad dolph ad dolph hitler. neil: the big events. whatever the political machinations behind the scenes, they're putting all out. hopefully calmer, cooler heads prevail. thank you very much, my friend. i want to go to chad wolf,
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former acting dhs secretary. as chad will tell you, there is a move to help the 11 million undocumented immigrants in this country. that might be a conservative number. eventually find a pathway to citizenship. chad, this has been mentioned before. we even saw the hope eventually that the trump administration has to work on some coherent, bipartisan immigration policy that would address this but it never happens. where is this going, do you think? >> well, thanks for having me on, neil. i think legislation that president biden and his team have put forward mirrors a lot in some of the legislation we looked at in 2018, 2019. i think the struggle here, if you're going to talk about a pathway or some type of status for the 11 million or more illegal individuals that are here in the country, it is also about closing some of these continued loopholes we see in our border security and immigration policy making sure
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that we don't have these populations that continue to need this type of amnesty in five years or in six or seven years. i think as we look what we do here, congress is the right avenue for that, with the 11, 12 or 13 million folks, it is also making sure that we don't continue to have these pull factors bringing more illegal individuals through that southwest border, into the country year after year after year. so we continue to revisit this issue. we need to close the loopholes. we need to let congress do their work to address the population that is here illegally today. neil: chad, while i have you, i'm confused on stopping the wall building that was going on of the trump administration that joe biden sent out an executive order. that stops. deportations stop. at least first 100 days. we're about a third of the way into that. what is happening in the interim? if we're not deporting people. not extending on the wall, do we
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have any latest data that shows you know, we're seeing more people crossing that border and getting in? >> well i can tell you what is happening in the interim. you are in fact seeing more and more individuals crossing that border. the average daily number coming across that border is somewhere over 3,000. neil, if you remember a previous secretary had said anything over 1000 a day is in a crisis mode. we're clearly in a crisis mode what is going on, but from a security standpoint, humanitarian standpoint, there on that southwest border you mentioned the administration stopped construction of the border wall system. a halt on deportations. they have given i.c.e. new guidance who they can and cannot remove from the interior of the country. they stopped our asylum cooperative agreements. they're taking steps now to end remain in mexico or the migrant protection protocols program. there is a number of initiatives, policies underway to undo a lot of the progress
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that has been made over the last four years. i think what my concern here is, this is fueling a crisis we're already seeing on that border. i think that is a very dangerous, particularly as we continue to deal with covid. continue to deal with a economic crisis here in the u.s., trying to do all of these things at once will be very, very difficult there on that southwest border. neil: yeah. the whole covid thing has opened up a whole host of other possibilities we didn't envision with the new stance. we'll follow it closely. good seeing you, chad wolf. i want to update you on the whole electric vehicle push and conversation apple and nissan were happening. apparently they are not getting together. i can't keep track of this. this is a very real trend going on. it used to be pretty much tesla the only game in town. there is another prominent one that gets attention. lucid motors, its ceo and chief technology officer is here after
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♪. neil: all right. for the first time in his presidency official domestic travel for the president of the united states, be in wisconsin, we'll be in michigan, busy traveling agenda year. grady trimble has more from wisconsin. grady? what are you going to be up to? reporter: neil, one of the things he will be talking about today is manufacturing. i will tell you the manufacturers here in wisconsin are happy to have the president's attention and while he is here, they're trying to make the most of the fact that he's here. the association of equipment manufacturers laid out top needs for the sector including a business-friendly tax structure, infrastructure plan. and equitable trade deals with countries like china. we're in hosco they make hydraulic parts and other components for vehicles. we talked to the ceo.
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he said there are better ways to help create american manufacturing jobs than by executive order the president recently signed. >> buy america is great. as american manufacturer, i don't need rules to force people to buy american products if you give us a level playing field american products win. we have the best value and products. i would rather see focusing back on rolling back tariffs and bigger infrastructure package. reporter: wisconsin added 3900 manufacturing jobs during president trump's term despite the pandemic where the overall u.s. economy lost manufacturing jobs. they're hoping to build on the momentum here in wisconsin and grow the sector even more, neil. help other states who have seen a decline in manufacturing jobs. neil: thank you very much. grady trimble reporting from which is. you've been hearing a lot meanwhile about the big push for electric cars and how volvo
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plans to have the entire line that way in a matter after few years. getting notoriety. peter is the louisiana sid motors ceo, chief technology officer there. peter, very god to have you back. thankthank you for coming. >> good morning, neil. neil: how are you things looking on your front? everyone seems to say now that the big companies, that the establishment car companies say we're going this route too, it will pressure guys like you, pressure even elon musks. what do you say to them? >> they have been saying that for years, haven't they? there will be a big push from the traditional car companies that will pressure tesla. tesla is years ahead of them. they're in a premier position. only this week jaguar announced
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they will cancel the electric xj program. so they are not coming that quickly, are they? neil: very good point. could i ask you this, peter, not everyone is on the same page or standard for these vehicles. i like and old enough to remember that battle between beta and vhs, late 70s, early 80s where they couldn't agree on a standard. i'm wondering if that is the problem with proprietary technology, battery charging stations, we could have variety of formats out there? where is that going? >> that is a very interesting point, neil, lucid motors partnered with electrify america, to access its 1000-volt charging infrastructure which is growing rapidly. we're on the open standard, the ccs combo standard. which is the open standard for the usa. we share that with so many other
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automakers. it is very interesting point, actually. i -- tesla for rolling out fast charging network, their supercharged network but in a sense that is almost an isolated network. it is a 400-volt system. we know that the cars of the future will be ultrahigh-voltage you see behind me in our beverly hills studios we're launching over 900-volts. the next generation electric cars are going to be 8, 900-volts. so, you know, with supercharged network from tesla at 400-volts it is going to be a interesting future. neil: you know, where are we on charging? you know it takes a long time to charge a typical battery, depending on the vehicle maker. i'm not quite sure yours. but if we sped that up, leaving aside the more mileage you get on the charge these days, that
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could be a big game-changer as well, right? >> absolutely. that is a function of many things. it's a function of sell chemistry. it's a function of the votage architecture of the vehicle. it is also surprisingly a function of vehicle efficiency in how many miles i can go per kilowatt-hour. this really matters to the customer is the speed in terms of how many miles of charge i can accrue for a given stop time. not the amount of energy that is going into the car. and because lucid is extraordinarily efficient, we can get nearly 300-mile charge in 20 minutes. which is quite extraordinary. neil: holy cow. >> the other thing is, we have an on board charger for level two charging at home, rated at 19.2 kilowatts. that gives us close to 90 miles charge per hour at peak conditions at a home charging station.
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this is a game-changer. neil: it is to put it mildly. that is amazing. because that does open it up to a wider group of people who might be doubters right now. we'll see where all this goes. peter good checking up with you. peter raw lynn son, lucid motors. they are beautiful vehicles to look at. that is part of the game changing developments. speaking of game changing, you know bernie marcus and arthur blank, cofounders of home depot. they're very rich guys but you might know know they're generous guys with that money. they're targeting veterans, a whole lot more, emergency workers that deal with stress. a whole lot more forms of stress. what they're doing, what they're announcing here on fox business and only on fox business
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neil: we could have a very significant element underdevelopment and could be when we lost 150-point gain in car half of the back, news that the president might be lengthening the time frame to implement a 15-dollar minimum wage he faced opposition from democratic senators joe manchin and kristen cinema, this would push it back and vapid that all certainly in the stimulus plan the market seems to welcome that to the 1.9 regular stimulus plan
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which they might need for the pop under possible republicans might not go along with her, lauren simonetti following other developments that are moving the markets as well. lauren: the weather, more than 4 million people without power and just the state of texas we are going to show you hundreds of thousands in nearby states including oklahoma but all the way west out to oregon yet people without power, arctic freeze is blanketing much of the country and the power grid you cannot keep up. it is rendered texas the energy capital of the u.s. unable to sustain itself, a million barrels of oil a day taken off line, the houston ship channel port of operation halted some of the biggest refineries in the state are down, wind turbines the blades are frozen, wind is a
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popular power source in texas after natural gas and supplies electricity for one quarter of the state but the turbine blades cannot spin when it's freezing cold and that makes renewable energy in this case unreliable. it makes the cost of energy go up 5% for natural gas about the same for wti. jenna rack make generators also the natural gas producers these stocks are absolutely soaring today and then you have large companies including fedex unable to handle some cities because most disruptions that are happening at the memphis hub there are contingency plans in place, general motors idled shift up for plants impacting 8000 workers they're worried about the dangerous driving conditions for there's employees and the ability to get parts delivered so they can continue making suvs, ford, they are shutting missouri factory that makes the f150 for a full week because of the shortage of natural gas.
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ripple effects include flight cancellations at least 2600 domestically today and counting. this weather really affecting a good deal of the country and energy policy going forward. neil: absolutely, thank you very much speaking of energy, natural gas prices that are soaring about 7% today, oil prices were in and out of the $60 a barrel and to put that into some perspective as recently of august we went to 35 - $37 a barrel and i should also say one of the other things we are seeing going on is a backup and yield, nothing new to tell you that a 30 year bond is going north 32% and indicate the markets have gotten used to it what's are not getting used to is the tenure around 1.28%, back in august this was a little bit under .6%, these are still low
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levels fellow manager and our own susan li, jack, that's nothing like you and i probably would remember long before susan li was even born but having said that i'm wondering if we should've paid attention to the old argument that inflation has to start somewhere is this a worry to you or is it still contained? >> we are getting close and more importantly i think the equity market is starting to get a little nervous because when you look at it there's a lot of good news going on risk assets should be doing better, their starting -- i don't want to read too much into day, they might be stumbling but rates were higher -- were scrambling to figure out what is the magical rate that is going to sweep the equity market by how quickly we get here in last week's 30 year option was not great we had a couple of options this week, 20
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year, 30 year tip, i'm looking closely to see where are we if there's any demand if it's not yields getting higher, at some point equities are not going to like that because were getting competition between bonds and equities. neil: i don't know where that magic level is, susan li one of the things that markets like his idea of stimulus as you and i discussed, they long given up any type of discipline, we figured the rescue packages better, they welcome that and now the news of the biden administration could go along with the plan to push the minimum wage increase little bit if it's even part of the stimulus plan, that probably changed some investors minds and might've contributed to the turnaround what it been the turnaround south. >> i feel like wall street and a lot of the investment brokerages
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have some extra form of stimulus this year whether 1.9 trillion or a little bit last but goldman sachs came out with a strategy this morning pointing to the fact that were looking at the segment best earnings season in 23 years and as a result they're looking at a bullish into this year they have told us we are going to be up about 9.5% from last week's level, 9.5% from the record levels, we birdie seen around ten record s&p 500 closes the so far this year so were expecting some form of stimulus whether 1.9 trillion or less is baked in. neil: jack, i think she is right that this would be the first quarter after four in a row year over year declines in corporate earnings, what are we to make of that, is it a fluke, a sign of a lasting subsidence turnaround? what do you think. >> clearly the facts when you're right with god from a depression to a v-shaped recovery in a
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period of time i think the key will be due companies have pricing power, we know the cost of doing business is increasing, input crossed, commodity prices are higher, wages are moving higher as well but do they have the ability to pass on the higher import cost and if they do, i think earnings will continue to do well and here is the key also on the service side of the economy, that is still pent-up demand, i don't know when the good side, were buying goods at levels even before the pandemic i don't even know how much pent-up demand is there but services i think we should see earnings growth and that part of the economy catch up to what were seen on the side. neil: am i right, we will see, don't go anywhere i want to pick your grade enter brain on bitcoin and what is going on with that, $50000 there could be something very different this time, in the meantime the biggest ventures that they
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neil: it is very rare if you get to see the cofounders of home depot together, not necessarily in the zack's same place but right now on fox business on the same time i'm talking about bernie marcus, arthur blank, they each committed, each of them $20 million to open up 23 centers across the country for veterans dealing with posttraumatic stress, i will let them get into the details but were honored to have you. this is mind blowing and welcome to both of you. thank you for sharing it with us. bernie, i noticed a lot of the announcements it's been said to help soldiers and those dealing
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with posttraumatic stress but not necessarily the disordered part, you don't see it as that, explain why that is the case. >> first of all there's two things, posttraumatic stress is also traumatic brain injury and they're quite different, one from the other, but both of these groups of people, i'm talking about the ex-military people suffering terrible problems with anxiety, frustration, inability to sleep, inability to function as human beings and mothers and fathers and it affects their lives terribly, this is not a mental health issue, this is an issue of not being able to cope with the world as it is and there has been very few treatments that have been successful, our treatment we've had in place for eight years, operation share and
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atlanta has operated and we had hundreds of these people through our program and i have to tell you something, the biggest problem we face is suicide you will not believe the number, 20 every single day, 20 young men and women who served commit suicide every single day. that is a tragedy. neil: what is wild when i began looking into it this is not just earmarked no slang intended and other impressions for veterans, this is looking at those and other fields, first responders who might need this type of help, can you explain? >> the issue that bernie is describing and i'm sorry i can't see him but i'm always connected to him so he knows the love is
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there, it's nice to chat with you as well. since september 11 we had 3 million men and women deployed around the world protecting our rights and our values and protecting our freedoms, a third of them have come home with the mental health issues and mental wellness issues or physical issues that bernie is describing in the first responders is one out of three are being affected a similar way. so the program that bernie launched and i was on it to partner as they had throughout my life, and now garris denise, really deals with all returning veterans men and women alike and first responders to in the same issues that bernie is talking about we found to be true as well as a very comprehensive program dealing with the physical injuries that people
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sustained and come back with in the invisible wounds that they feel and experience in their lives and their families do and we deal with those as well. and the beauty of the program that bernie initiated and i've been pleased to be alongside of him as this will be a nationwide program, the response will be nationwide and we hope to have 23 sites up and running and the next couple of years and the finest professional people medically in terms of mental wellness working on this issue and the results we've seen have been incredible compared to the more conventional ways that treatments normally administer. neil: that's what i wanted to pursue there will be 23 sites and i know you're looking for one that will start maybe in denver but you mentioned as well, both of you did the actor of course that has a foundation devoted to this, working in conjunction with you as well. explain how these centers will
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differ that the help that the veterans are getting out or maybe more to the point that they're not getting now. bernie i'll give that to you first. >> we have all of these young people all of these young people have served or been to the veterans administration and other organizations and they've come to us, i have met with so many of them, right now we have five hospitals actually in play, we will have two more this year, there were about eight units and we will have about four more this year, there will be over 23 in the next several years but we are finding that these places have to deal with the individuals, there is no drugs or no pill you can take, is comprehensive treatment and each
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one has a different problem in that the marcus brain center in colorado that has been in play for three years now we are shown the results are pretty good, 95% are now achieving a lifestyle that they can live with and those numbers have never been achieved by four by anybody that were aware of ian boulder crest that handles posttraumatic stress is 50 - 60% and they were able to go back and function in life and become husband and wife again before entering family oriented and keep a job and be able to focus and sleep at night, not have the nightmares that they had before and i think having gary sinise joining us, we've been with him for many of years and he's built many homes for veterans that lost their limbs, arms, legs and he recognizes the silent killer
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that all of them suffer and having him involved, he and i have been talking for four years about this program and he feels this is the next thing he wants to attack but we hope in five years we will be taking care of about 10000 young people a year into my understanding i don't think anybody else has the kind of success that we have seen. >> another thing i wanted to point of emphasis on the posttraumatic stress if you will, the program that bernie described is really from a post dramatic growth standpoint that we all have trauma and our lives in trauma induced by the experiences these men and women have had overseas in terms of
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treating them when they come home, it gives them an opportunity to not just deal with the stress but an opportunity to grow in the success of the program with a two week go in the woods and spend some time together and it's a year end half wraparound program and it includes a families and all elements of these men and women's lives and so the result is the success rate is extraordinarily high and it's a wonderful program, it is one we cannot be more committed to it it's been an honor to fight with bernie as well as gary sinise and dealing with this issue which is really plagued in our country. neil: in your study and research it has actually shown this invisible wound that they suffer
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can be passed generation to generation, unless we get a handle on this now for the men and women directly affected it could affect their families going generations forward. bernie, how does this program do that? >> what you have to do is bring the individual back to life and they are broken when they get to us and i met with these people over the years, eight years we've been operating operation share in atlanta and part of the treatment is the treatment that we are using all over added tulane university of the university of florida jacksonville at jefferson in philadelphia with many more coming aboard in the future. this treatment has a way of staying with them, it is great to treat them and afterwards they go back to their own
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problems, they resurrected self, we follow these people very carefully over the period of time to make sure they don't slip, were worried about substance abuse which is a real serious problem and it is across-the-board, the things that we are seeing, remember this has the effect on the families and the families live with the situation when you have a father or mother that comes home from the war and their irritable and their angry and they can't sleep at night and they don't function as a family, has an effect on the entire family, the wife and the children. this goes on and on and we have to stop it this is been going on since 2001 and nobody's come up with a real program that is successful and i think this is one of the first ones that really shows success and we have the data that proves that. neil: what do you do with this
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that you're not dealing with now, what's not being done now we feel that this and i heard about the suicide rates, they are eye-popping, whatever were doing doesn't work. and now here you guys come along with a different plan, how will they be different than what's been done presently? >> from my viewpoint i would say in terms of the tbi the medical facilities, the hospitals that bernie had mentioned are all world-class in using a common approach that a been tried and tested in producing the rates of success that bernie described earlier in the 90% rate in terms of the post dramatic growth opportunity i think the differences a lot of the other programs are well intended and will have some effect and some positive effect but it's very short-term, the beauty of the posttraumatic post program the bullet crest program is designed to have a sustained relationship
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with a man or woman, case may be, first responder whatever the issues may be but do it over a long period of time, we have several guest branches in 19 on a and we use one to host a number of these young men and women as well but that's just a piece of the work that they're doing that has passed boulder crest, it takes that service in the commitment not just to the individual but to the whole family because what you said earlier is absolutely true this is not resolved with individuals as they come home dealing with the third of the population returning from conflicts if it's not resolved it will be passed on it's not a question it will be passed on to the children so the opportunity to create that bridge and connect that healing and have a healthy transition onto the rest of the family and the future is very important.
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in these programs can be incredibly successful in one of the things he always wants to see results he's invested very heavily with this and i've invested heavily alongside with us and gary has done the same thing, i think the beauty of what bernie and i have always approached as it is business because it scurried about community and caring about a broad sense in the long-term result and can we measure that, whether it be home depot and were majoring with easy details now and were taken the long-term use in both areas, all of these invisible wounds and one that are invisible in getting a positive revolution. neil: go ahead. >> one thing i want to point out all of these treatments are free of charge to these young men and women no charge to them at all,
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so they know that they can get what they want and many of these people don't have money and what our plans are eventually is to have a place throughout the united states, right now many of them cannot get the bas because they're too far distance or they have specialized programs and have to travel for five hours we want to have it every metropolitan area so it's easy to get to and they know they will be taken care of they know that somebody really cares for them and wants to improve their lives and of course it is free of charge for them. neil: that is amazing, gentlemen i would not doubt one step along the way, people doubted you early on in your career from firing jobs to starting home depot, in your case bernie coming up with the idea to start a world-class aquarium in atlanta, georgia nowhere near the ocean i might point out and
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it's working, no pun intended i could go on and on with you arthur with your commitment to the atlanta falcons, some people think that is the future, we will see. but between what you're doing that and soccer, you've amazed the world not only with your generosity and opportunity to help people but maybe sending a message to guys just like you to help out and maybe do some good i want to thank you both very, very much and i wish you all god's best. just incredible. we will have more after this.
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that help you keep more of what you earn. and with brokerage accounts, you see what you'll pay before you trade. personalized advice. unmatched value. at fidelity, you can have both. ♪ more than this ♪ ♪ ♪. neil: we thought that music perfectly describe what's going on with bitcoin it is over $48000 and it cost $50000, this is one we are watching because you might recall a couple of weeks ago when tesla first
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invested and made a one and a half billion dollars to crypto currency and the like by the memes of potential for buyers using bitcoin that is started as a chris endo event that was added to by the likes of paypal indirectly and now micro strategy looking at convertible debt to buy bitcoin, i generally think this is what happened when a fringe investment goes mainstream which usually happens with mainstream companies betting on that that seems what is going on it might be short-lived and the same power to it and those who go for the roller coaster ride known as bitcoin probably with all of the already, jack mcintyre is back with us, susan li, susan i do think i use the term street cried when a lot of the established companies given onto
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bitcoin and maybe we should. >> buy, sell is always a plus, makes it easier to use and makes it easier to access that's what you're seeing with bitcoin and morgan stanley is $150 billion and might be spending some of that cash and violence along paypal with hundreds of millions of accounts on square and robinhood and bank of new york mellon will allow its accounts to exchange bitcoin's, that is the key to make it mainstream and that's why you look at bitcoin at the $50000 level. neil: what is interesting about this and you guys are far worse due to on the new onto bitcoin but everyone is going up at the same time, bitcoin moving up, stocks moving up, technology stocks, not exactly in concert with one another but by and
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large even with a backup in interest rates and the rising commodity prices and oil and all of that all are making money with their respective investors, normally that doesn't happen or stay that way for long, what are you looking at. >> we had a conversation about bitcoin i view it through the lens of a crypto asset and maybe it will turn into a currency we have to see the meeting exchange and maybe gaming and a little bit more adaptability and the value i struggle with but you're right it is an asset were in the world right now where we have huge global liquidity and i think the uncertainty over the virus, the vaccination all of that stuff is pumping capital into bitcoin there is a fear of missing out component as well i struggle with what the appropriate price for bitcoin is but the market want to hire.
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neil: susan i was talking to a friend of mine when it comes to fiscal matters, pretty conservative, nothing flashy but he asked me how do i get bitcoin and i said why would you want this and he said everyone is getting into it and i said, this not that long ago this is 15 - 18000 i thought that was ridiculous i missed it when it cost 10000 i don't want to miss this party, i'm not sure that's the right strategy going into something i get it i'm just worried a lot of people could get burned. >> people are using the term that this time is different 2,212,020 compared to 2015, you're not going for 20000, 3000 in a hurry if you want to talk about big investors and big money managers buying in what about mike nova gratz and the duquesne capital, these are
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established not young folks from silicon valley and they say this is the early innings that were seen at bitcoin and one more name kathy would probably the best performer etf provider over the last 12 months, 12 - 18 months and she bought 7 million shares in great skill bitcoin trust, that the etf, the easiest and popular way to buy bitcoin and that has skyrocketed along with bitcoin pricing as well. neil: she had a return of 100%. >> at least in all of her five etf's. neil: any word of advice for investors watching the segment and i respect the heck out of both of you, me not so much looking that and say i don't know i might get into this or do you tell them. >> that's a tough one i have gray hair and i see these type of events before i struggle a a
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little bit it tends to do that on the downside but i don't know markets can stay rational a lot longer than i can stay solvent i don't know if it's worth towing but if you're going to do it do a tiny part of your risk asset. neil: final word on that i want to thank you susan, in the meantime we have a rule of thumb and probably with online jones not to return to tate story differed everywhere else unless we can find a new development a perfect example in new york state with a number of nursing homes and assisted living center deaths that were underreported by governor andrew cuomo it's one thing for republicans to constantly rip them on that but it's quite another in a reason why we advance the story right now when democrats are say the exact same thing, that is the latest. more after this.
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neil: the nursing home death in new york had been a very big story in the empire state but what has changed now for one the governor address some of the criticism going on and two, a lot of the criticism is not just coming from republicans it is coming from democrats who are afraid they gave him too much power to act and deal with the covid viruses himself, brian llenas has more from brooklyn. >> near governor andrew cuomo admitted it was a mistake, they were too slow in disseminating the data the nursing home death toll total number that we now know is more than 15000, he denies that this was any kind of cover up, since august date
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legislatures and journalists have been trying to find out how many total residents had died in new york long-term care facilities to better understand the extent of the crisis and since august the administration stonewalled those request, cuomo claims they never release the full data when it was requested by lawmakers back in august because they were busy trying to answer a department of justice probe by the trump administration. >> there's nothing to investigate we gave precedence to the department of justice we told the assembly and the senate that. that is what we did. >> even democrats are not buying this, the spokesman from the new york state assembly said they were never told about a d.o.j. probe other than what was in the news the speaker had no knowledge of an official inquiry there are growing calls for an independent investigation from both sides of the aisle democrat
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state senator jessica ramos tweeting i reiterate my call for not entering new york governor cuomo and his administration to be subpoenaed for all pertinent information enough with the spin she went on to tweet about cuomo trash, no one believes you democratic senator alexandra was riddled with light, theater and deflection, the new nursing home death toll was 15000 much higher than about 9000 number that was being reported by the administration, the stonewalling lead people to believe that the administration was trying to hide the data to downplay the extent of the crisis, suspicion that was backed by cuomo's own top aid that last week in a private meeting in a leaked conversation with democrats admitted they were withholding this data because of fears it would be used against them in a federal investigation by the trump administration. neil: brian llenas, thank you
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very much and as brian clarified the cuomo press conference was yesterday with follow-up from the government office, we will pass that on the dow up 90 points. stay with us. [announcer] durán catches leonard with a big left. ♪♪ you can spend your life in boxing or any other business, but one day, you're gonna take a hit you didn't see coming. and it won't matter what hit you. what matters is you're down.
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neil: this one is a doozy, ice in texas, need i say more millions without power in texas as the storm is relentless down south spread along the atlantic coast takes a battery in an accounting that they're not done yet because a lot of people still without power we have the very latest from casey stegall in dallas, a lot of folks still trying to dig out from this. >> they absolutely are and frankly millions of texans are angry and they're starting to lose their patience many people have been without electricity for more than 24 hours and temperatures got down close to 0 last night and with the wind chill was well below 0, right now four-point to million texans, four-point to million without electricity across the entire state officials say that
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is a mix of controlled blackouts to ease the strain on the electrical grid and the infrastructure is frozen like wind farms and natural gas power plants, the governor is now calling for urgent reform to the system saying it should be an emergency item with this year's legislature so people never experienced this again. >> we started watching the temperature drop at our house 55, where 53 now, will go sit in the car for a little bit to keep warm. >> the wintry blast impacting some parts of louisiana many of the same areas hit by hurricane late last year ice causing more than 158,000 power outages across the state while up to 5 inches of snow felt all parts of kentucky snowplows out in full force and as you're saying this is not just done yet, here
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in texas, the dallas-fort worth area alone is expected to pick up two - 4 inches of snow, a freezing rain event to areas south of us that will make the roads even more slippery were not expected to get above freezing here until friday. it's going to be a while have to get people's power back on. >> just amazing i would think you're in buffalo with the snow and everything behind you but you're in dallas, that is while casey stegall in dallas. in the meantime this was the first full weekend we had more in expanded dining service in new york city metropolitan area but across the number the states have expanded that from new jersey, wisconsin, whole host of others but not all businesses are hurting in this environment some are actually benefiting from that including my next
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guest carlo frankie of founder and creator director, good to have you what is fascinating about you you benefit from a lot of the restaurants and others to open up that want to make things look right. right? >> exactly, thank you for having me. neil: how does that work what do they do? >> it's been really hard for the restaurant with the closures and everything we just drive to their spaces and people can come back and let them know that's okay and that's where we come in in the studio that focuses on branding and customizing the restaurants with new customers and using social media as a platform to self promote your business and it's been very wonderful for us but more importantly for the restaurant because even though the restaurants that we do decorate
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you can see they are busy and have reservations, confirm and it's very rewarding to see that there we can actually do something to impact and help these businesses stand out. neil: if you are doing it and what i find fascinating a lot of those flowers are outside, it is sort of an enticing take get people in. how do you pull that are especially under the conditions. >> first of all you use silk flowers so they're not real so they can withstand snow, rain, sun, all of that so that's the tricky part and then i tell businesses the customers are already inside, there already inside we have to bring them inside a typical marketing strategy, if you're coming from advertising i want to be sure customers are stopping about the restaurant and walking and it's about getting them enter the doors and once they're there the restaurant can do what they do.
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neil: who generally seeks you out, these days you don't really have to make too tough of a pitch and looks beautiful and i would go in but how do you win them over, some of them i think this is bunk, i don't need this, how do you tell them maybe might benefit from this. >> it is especially when other dining the restaurant they can have something outside but the restaurant that have invested so much inside and then here you are going to home depot getting a contractor in supplies, how are you going to convince people not only to come outside but sit in the restaurant, that's where i come in and it's been really rewarding, if the owners are more open on social media and have the impact then there more
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open to the ideas and they see the benefit they look at our page in the restaurant that we are doing and they come and say oh my god did you see what they did here and everybody is seen other benefits, it is an investment but on the long run it's really good in a benefit for the restaurant. neil: you do great work, you got the touch, are you able to keep up with the businesses, i have businesses that compete with one another and they all want the same thing. >> yes, exactly and that's where we come in and i need to take a break and go visit the location and have to make sure i'm doing something cater to the restaurant in the hotel's identity that can identify them so i don't repeat to the same person and i do have my aesthetic i get inspired by the whole pandemic because when this whole thing started we were down
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for months in the restaurant there was like six months without having any patrons inside so my idea the way i design, we stop at nature never stop from growing so everything i designed i play along with, i want to touch and get in touch with nature i have branches growing out of places we left but the nature kept growing it's going to see people's reaction when they come back to the restaurant and says this was here last time, how is this happening. neil: great stuff, you have the styling touch. i have heard of that thing called style, he has it. meanwhile after this. ♪ are. . where everything started.
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neil: speaking of guys with style. now my buddy charles payne. hey, charles. charles: neil, thank you very much, my friend. good afternoon, everyone, i'm charles payne. this is "making money." breaking now the major indices started in record territory. they've been mostly consolidating gains since but the hottest investment themes are still rocking including bitcoin which tickled 50,000. we'll look at disruptive technology to betting on old-fashioned oil and bank stocks. america on the verge of becoming the most generous country during the pandemic but are we stashing a irreversible precedent and do we want to do that? i will ask economist john lonski. all that and so much more on

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