tv Cavuto Coast to Coast FOX Business May 5, 2021 12:00pm-2:00pm EDT
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1862. there you have it. didn't know that. check the markets. dow hit an all-time high, well above 34,200. jessica alba's honest company just started trading. went out at 16. current trade, $22 a share, up 25, 38%. that is our story. neil, it is yours. neil: thank you, stuart very much. nice profit for jessica alba. we'll talk to the honest ceo momentarily. corner of wall and broad has it peaking in and out of record territory. this time the nasdaq going along for the ride as technology stocks attempt a comeback. the big story right now is focused on the economy and finding a job. there are plenty of them being advertised out there but devil of a problem has proven. we had them on this show, other shows on fox business, they cannot find workers and a lot of that is because of very generous
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unemployment benefits that are going to extend through september. but a big, big decision out of the governor of montana to say, not in montana. the governor there is indicating he wants to put a stop to federal unemployment benefits so that there is a better shot for workers in the state and employers in the state to meet each other and, well fill jobs. we're with him momentarily. we'll be mr. vlahos, of the honest company. the jessica alba vehicle proven all the rage and demand for everything safe and everything environmentally clean. more on that in just a second. i do want to go to the governor of montana, greg giantforte. he is the one said look, thanks, but no thanks, to authorities saying we want to keep the unemployment payments coming. governor, very good to have you. thanks for joining me.
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>> neil, good to be with you today. neil: explain was behind this decision, governor. >> sure, montana is open for business. we took action, when i got sworn in january we immediately lifted the impractical government mandates. got rid of hours of operation, capacity limits. got rid of the statewide mask man date. we put lawsuit protection in place for businesses, nonprofits. as we opened up employers can't find workers. it is across all industries. restaurants are having to shut down for days because they can't find cooks forewait staff. so we made the decision the decision, yesterday, supplemental unemployment benefits, we got what we incented. we were incenting people not to work. so we made the decision to opt out of the federal supplemental unemployment benefits and replace it with a back to work
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bonus. this is going to help employers and honestly, there is dignity in work and there is is also satisfaction in being self-sufficient. we made the decision yesterday. we're getting a phenomenal response from our business community. neil: you know i note you argued, governor, these provisions that were met with the best of intentions were actually proved to be a disincentive to work because it makes more sense for people receiving these benefits to sort of do the math, look, i might as well get this because it is better than what i can get elsewhere. are you getting early indications that some of those folks now without the extra 300 bucks in federal added unemployment benefits will do just that? >> well, here's the reality. with the supplemental federal benefits people can make more money staying home than going back to work. you get what you incent.
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i think we're coming out of the pandemic. these things may have been necessary during the height of the crisis but frankly unemployment benefits should be a safety net, not a career choice. and that is what we have. we had people able to make more money staying at home. it meant that our economy just couldn't get going again. we're going to incent work, not staying home. neil: so you're offering up $1200 to anyone who gets a job, hangs on to it for four weeks. do you think that will do the trick? >> i think it is directionally correct f someone was on unemployment, we have 25,000 people here in montana on unemployment as of today. if they were on unemployment all they have to do is go get a job. we know who is working. they will be notified. if they stay at work for four weeks they get a 1200-dollar check. and it also means that they get
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that check, they can't then refile for unemployment. so this is a one-way ticket back into the job force. neil: you know, governor, you have very low unemployment rate. the most recent month i saw was 3.8% unemployment rate. so the timing of this is with a strong backdrop of the economy as well. did that factor into the timing of this? >> well, most of what motivated this was just hearing from our small businesses. they can't open up. we have restaurants that are shutting down a couple days a week because they can't find staff. we're coming into tourist season. americans are probably not going to europe this summer but they're welcome to come to montana, enjoy glacier national park. get a line wet in one of the trout streams. if we don't have wait staff, help staff, cooks, carpenters we'll not be ready for visitors coming to montana.
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this is about being ready, having all of montana back to work. neil: what has been reaction from washington, governor, labor department, other entities were behind sort of shepherding this process along with these extended benefits? >> well there has been, we've seen a continue all stream of initiatives out of washington that disincent work. nobody starts life thinking, hoping that they're going to grow up and become dependent on the government. we need unemployment as a safety net for folks that find themselves in a rough spot but it shouldn't be a permanent status. that is why we're doing away with the supplemental benefits. we're reinstituting work requirements and we're putting this inis not tiff to go back to work. i'm a free market guy. we should be incenting work, not sitting at home. neil: i'm wondering too, i think there were 14,000 open job positions in your state by last
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count. obviously employers have had a devil after time trying to fill those slots, but what if the math isn't based on unemployment benefits folks are receive but just not wanting to work at the positions that are available? >> well, you got to start someplace and we do have 14,000 jobs open in montana that we know of. 25,000 people on unemployment. but it is a virtuous cycle f a small business has two open positions, they hire those two spots, they can expand their hours of operation. the next thing they do is hire two more people. so we've got to get our economy going again and incenting work just makes sense instead of incenting people to stay home. neil: governor thank you, very, very much. keep us posted on this. this is a little bit after precedent breaker in the country to put it mildly. you're the first governor to do something like that. we want to see how it is
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progress something. thank you very, very much. the other big story we're following closely the initial public offering, the debut if you will of the honest company. that's the company that was founded by jessica alba, and it had a offering price originally at 16 bucks a share. it is trading a little north than $22 a share, better than a 33% gain right now. that values the company at least now at a minimum of 1.4 to $1.5 billion ceo. the company ceo, is with us now. congratulations. not a bad debut. >> thanks, neil for having me on the show. neil: you can look as we come out of this coming out of the pandemic people will pay more attention to the products, consumer goods you offer, diapers, nursing pillows, vitamins, non-toxic household
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products stuff environmentally safe and clean. so your timing could be impeccable here. >> we're a mission driven brand. we're all bin spiring people to live a more conscientious lifestyle. products you think of health and wellness from the lens of what you put in your body, what goes on your skin, what can impact you from a environment perspective. what you see now is a real acceleration from the consumer perspective in the categories. the projections are in this clean and natural space, in the categories we currently complete in, nine to 10% growth is being forecasted over the next few years. whereas the conventional players in the same categories are forecasted to grow maybe one or two%. there is definitely a consumer out there that is shifting. the other element here, 55% of our business is digital. 45% is retail. so even pre and even post-covid
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you see the consumer gravitate more and more online. we're a digitally native business so we're well-positioned to be able to capture those consumers. neil: you can find this at cost co, target, besides that what you can do online, that right? >> correct. we focus driving accessibility for our consumers. we want to make our products available for consumers interested in finding those products in places like target, amazon.com, honest.com. we have strategic partnerships right now here in the u.s. we can reach 85% of the population within one day. neil: maybe you can tell me a little bit about jessica alba's role in all of this. i know she is a shareholder. she came up with the idea i believe for the company some years back but can you explain what that role for her will be going forward? >> sure. jessica alba is the originator.
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2012 she had the insight to really go out, put a deck together, solicit investment, and found a business. that is really original when you look at it for who she is, what she is all about. from dade one it always has been about the mission of this business. you see jess, what we've been able to accomplish together. i joined in 2017. we architected the strategy to get to this point today. we have a very bright future. jess is not only the founder. she is active board member. she is our chief creative officer. she is a megainfluencer. very fortunate to have her as my partner. we'll continue to build this business and create a legacy that lasts for the next 100 years. so yes, sir is a key part of this. neil: i know there was earlier confusion that the company might have misrepresented some of the products that, some babely related products contain ad
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harsh chemical touted not to be there. that was resolved. issue was addressed. a settlement out of court. but again it does serve as a reminder that people are going to be aggressively making sure you adhere to the super high environmental and safety standards that few other companies have to. does that put undo pressure on you, not what is legally right, but what you are legally telling people? >> neil, i've been doing this over 30 years in the consumer products industry and first and foremost when i joined in 2017 the most important thing is having consumer trust with our products. we invested with our own internal laboratories in 2017. built out internal labs where we control that formulation development. then also brought in really a best in class team around really how we produce and manufacture our products with high standards, from not only a formula perspective but also
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manufacturing and actually over the last four years this past year, in 2020, we were recognized by 29 different publications for our products. if you look at our overall ratings and reviews. you know when i joined ratings and reviews stood 3.9. today they sit at 4.4. our consumers are voting with their dollars. we're in a great position to uphold the standards around quality, around safety and performance from a product perspective. neil: you know while i have you here you know what they're debating in washington, lifting corporate tax rates and the like. at a minimum you will look at higher corporate taxes, whether it gets to 25%, 28%, whatever, higher investment related taxes might affect those invested as you are a public company. are you worried? >> there is always challenges when it comes to taxes and when it comes to different monetary policy. i think for us what is most important we're building a business that is meeting
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consumers and their needs around these clean, safe, effective products and that is where we're laser focused and we'll continue to drive initiatives within the company around productivity to turn around, offset any issues from a costing perspective but we're really focused on driving good growth, consistency around top line margin expansion and profitability. neil: all right. we'll watch very, very closely, congratulations again a very nice debut thus far for the honest company. nick vlahos, man runs it. ceo of honest company. those shares are up smartly, 32, 33% over the offering price of 16 bucks a share. now we have carol roth, dan geltrude. this went the traditional route, initial public offering route. to seems to be greated favorably early on. many call it a good
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post-pandemic play. what do you think of this? >> first of all congratulations to their investment bank is because this is really priced to perfection. when you have an ipo you want to have enough of a pop that you sort of whet the appetite of everybody in the deal to buy a little bit more but not so much you feel like a business you left all this money on the table. so i think it's a very successful offering from that standpoint. neil: that is a very good point, carol, because a lot of these companies, i didn't mean to jump on you because you made a very good point. a lot get greedy in the pricing stage. the company did not. played it in the lower to mid-range estimates there. they got the bang for the buck in trading at least thus far. go ahead, i'm sorry. >> yeah, as i said, kudos to the team because that is not always an easy thing to do. it really, as a recovering investment banker myself that is sort of a perfect pricing scenario. in terms of the brand itself it definitely is on trend.
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obviously there is a lot more concern about the environment and i think a lot more concern about being clean after the pandemic. so there is certainly hitting those spots. neil: yes, indeed. >> they have a fantastic ceo. as you were speaking with, he has a phenomenal pedigree. congratulations to jessica alba. has an american dream. was able to build the business. has the right team to take it to the next level. a really great american success story. neil: i remember first came up with the idea, people laughed at her, stick to playing a superhero, we'll handle this? she was dead on accurate about the trend, where it was going. i do want to switch gears, guy, dan, take this up with you, the governor of montana making news trying to end early that federal benefit extension that went through september, essentially was thanks but no thanks because he says it's preventing people going out, venturing out and
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finding a job. what do you think of what he is trying to do? >> i think he is spot on, neil. look, this is a problem nationwide as we're opening back up, we have all this pent-up demand. people want things. they want to be able to travel. they want to be able to go out to dinner. they want to be able to go to hotels, all the things that the governor was talking about. if you don't have the people in place, you cannot provide the services they're looking for. and then, where do you end up? you don't get to where we ever open up again. one thing he said, i thought he was spot on, was that unemployment benefits are supposed to be a safety net. that is not supposed to be a career option. so we need to get people back to work that are able to get back to work. i think he is on the money, saying we are going to set up programs to incentivize people to go to work, not stay home and just collect from the
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government. neil: yeah, the added incentive to give 1200 bucks to try this, move this get the government to push you back to private sector work. we'll watch it very closely, guys. we talk a little bit about the bitcoin phenomenon. it is extending now to a lot of players, some people never heard of. we're on that later in the show. we're on the latest developments on the vaccine front and the goal on the part of the biden administration make sure seven out of 10 of us by july 4th have been vaccinated. it's a big goal. is it a doable one? ♪.
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neil: all right. the great reopening continues across the country. we're just learning from the offices of governor cuomo in new york that broadway can reopen to full capacity on september 14th. there was early confusion he would maybe do this as soon as, you know, later this month or early summer but as far as full capacity of broadway shows, september 14th. all of this on the heels of the president's goal to vaccinate seven out of 10 americans at a minimum by july fourth.
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jonathan serrie on all of that in atlanta. reporter: neil, the biden administration is trying to simplify the vaccination procedure. for example, you can text your zip code to a certain number, you will get all of the nearby locations delivering the shots. the idea is that the biden administration wants to reach the goal getting at least one shot into the arm of 70% of all american adults by july 4. right now the figure is just over 56%. cdc director rochelle wollensky is defending her agency against criticism it is being too conservative on easing guidelines on masking and social distancing even as more americans get vaccinated. >> if we have 70% nationally but we have a community that only has 40% vaccination rate, this virus is an opportunist, that will go to that community that has 40%. we need to blanket the entire country. reporter: this morning the cdc pun like ad study some
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communities with high vaccination rates nevertheless experienced increases in new cases when they relaxed safety guidelines. they had more variants in circulation. pfizer expects to request fda emergency approval for its vaccine in children young as two in september. federal health officials say approval for children 12 and older is likely to come well before that. >> i think it will be very soon. i mean i don't want to get ahead of the fda but i believe it will be within several days. i cannot imagine it will be much longer than that. reporter: neil, just moments ago, pfizer announced regulators in canada have approved their vaccine for use in children 12 and over in that country. again, they expect that a similar approval will take place here in the u.s. in the coming days. neil? neil: jonathan, thank you very much. jonathan serrie in atlanta on all of that. i want to go to captain john
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murray. the canaveral port authority ceo. he is the guy in charge of all those ships that go in and out of this country, most in florida's port canaveral. he has a big job. he wants to try to bring the whole industry back. they're doing a lot of things to entice those who doubt now the time to go back, perfect time to go back. captain, great have you again. how are you doing? >> neil a pleasure to be on the show today, thank you. neil: let's talk a little bit what you're offering here? along with the cruise lines themselves come up with ways to remove any doubt they're making the ships super safe, super clean, super healthy, can't board them whether you work on them, a passenger on them, unless you've been vaccinated but you're going even further than that. could you explain? >> well, i think you know, this has within a long process for the last 14 months now, that the industry has been shut down, and we're finally having some very meaningful discussions with the
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cdc on a way forward. i'm personally optimistic that we'll start to see some sailings as early as july. it is a, a lot of work to do. the ships have been down for 14 months. it will be 16 months before they're back up and running. we have a tremendous lift here the next few month to get the industry back up and running. we're having some great progress in getting the crews vaccinated. we're assisting the cruise lines with those efforts and i'm really excited to see this industry back online again. neil: so when will it back online? as things stand now, when will cruising resume? >> i think the earliest you will see it is probably in july. outside of the united states you have got sailings starting as recently as this week in various countries around the world but i don't think you will see out of the united states until probably early july. neil: you know, have you run into any resistance among
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crewmembers, who say, you know, cool it? >> on the contrary. what we've heard from various cruise lines who have been vaccinating the crews, that they're relieved to be getting the vaccine. i think if you're on a ship, you don't have as many options to go up to the local hospital or whatever, it is much more imperative to have that vaccine if you're on the ship. neil: what is the environment for -- obviously when ships resume there is going to be a certain amount of anxiety among potential passengers, whether it's safe. whether the -- should feel safe. what do you tell them? >> we don't have to tell them anything. the cruise lines are going above and beyond to make sure these ships are safe. in fact one minister in italy last week said you're safer on the ship than you are ashore on the ground in italy. the protocals are very strict, very rigid. they will remain that way. keep in mind these guys are in
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the entertainment industry, tourist business and it is to their benefit to make sure everybody has a good experience on board, no one gets sick, everybody goes home with the desire to come back and do it again. so it is in their best interests. there are companies focused on that. neil: yeah. they are indeed. they're way ahead of the curve. so are you captain. thank you very much, captain john murray the canaveral port authority ceo. those are the folks that make it possible for the ships to come in and out of ports they hope to be busy ports very soon. speaking about the pandemic, what we're hearing from several experts, federal bank president rosengren is on the wires tacking a look at the impact, among some of the things they are talking about, there are still people reluctant to get vaccinated. there are still many infections that could make some people reluctant to get back to work but that we will work our way through this. we shouldn't overreact to
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temporary price movements that are expected regarding the world markets and inflationary pressures building and that the unemployment rate itself may be in the range of full employment by the end of next year, not the end of this year, but by the end of next year. we'll keep you posted on that. the dow up 143 points. all major averages are advancing today. ♪. new pronamel mineral boost helps protect teeth against everyday acids. pronamel boosts enamel's natural absorption of calcium
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it helps us avoid real dangers, but sin has perverted fear, trapping us in chains of irrational fear. today, jesus can give you faith that conquers your irrational fear. will you come to him? - [announcer] find out more today, visit us online at findingtruepeace.com neil: maybe it was the news that bitcoin is coming to hundreds of u.s. banks this year or dogecoin was continuing to move forward right now in a rotation out of just bitcoin but the biggest beneficiary of late has been ethereum here, what has sort of
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been an alternative, albeit cheaper investment, much cheaper in the scheme of things, compared to 50 grand, a lot cheaper than tha. continues to run up, traditional 50% run up. as people try to play the whole cryptocurrency thing, by deciding what is hot in this group? it's a growing group of players if you look at coinbase, some of the other market venues. coinbase itself was a new offering, right? that became a very hot offering at that. back with us, carol roth, dan geltrude. carol, are you into the whole cryptocurrency craze, however you want to defined it? >> out there, neil, cavuto coin t has a really nice ring to it. neil: it has a bowl ever pasta on one side, pepperoni on the other but i digress. >> i think that will have a big demand. i look at it perhaps a different
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way than a number of other people are looking at it. people are looking at this as a way to replace money. certainly bitcoin was meant as a pushback to the monetary system, ether, a little bit different more decentralized app. i look at these more as collectibles, right? so everything that is a hard collectible from pokemon cards to collectible dolls, everything else is on fire right now. i think it is a pushback what is happening via the fed printing and everybody trying to find a place of value. so i think it, the way that i personally have played it, is instead of making a single bet which of these, quote, unquote collectals will retain value over the long term, i went in the direction you're mentioning coinbase, the company that serves all the different type of coins because they're making a transaction fee or providing some sort of a service where you're not making the bet on one working, you're making the
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betting is is going to work. so from my perspective risk adjusted return versus total returns that was the way to play it. neil: you know, dan, i have always told people, if you're anxious about this, don't make it the kids college money, depends if you like the kids but if you have got money you recognize you could lose, have at it. but it wouldn't be my first call to someone. it would be just be saying, all right, there is great potential here. maybe i'm not an expert on it. but, again, let this be money you know is at risk. but have at it if you want. other than that that, i think for those who are equating this with some more traditional investments, it, none of these fit that bill. it doesn't make them bad. you have to see them in a different light. what do you think? >> i agree with what you're saying there, neil. i get asked the question all the time, should i invest in
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bitcoin? should i invest in cryptocurrency? and i really back off from answering that question in certain instances. i really tell people not to, even though it's a shiny object and they're seeing the value go up and up and up, this is risky. this is not for someone who is not a seasoned investor. even at that, you have to look at these investments and say, i very well may lose this investment and that's okay. but, as you said, if you're looking at this, saying, well, here is the answer to the kids college fund i don't think that is the case and one other thing i want to bring up, neil, is also which is really been blowing my mind is this dogecoin thing that's up like 14,000% this year? incredible. >> starts off as a joke in 2013 and now it has a 90 billion-dollar valuation,
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more than general motors, more than ford. it is just, it is mind-boggling to me. neil: it is. carol, if you think about it though a lot of mainstream players, we talked about all the u.s. banks getting involved, we talked about all the fortune 500 companies looking at this in part, or you know, help customers buy or sell their cars, tesla more dramatic point of that, but there are obviously seeing something that maybe i'm missing but what would it be? >> they're seeing demand, neil. they're seeing dollar signs. that people calling them up, saying i've got fomo, fear of missing out, i want to be in on this. they weren't for a period of time, we better find away to allow, we'll miss those dollars. there is at least for the current point in time value to that. whether it is enduring it, could go the way of a pokemon card, back in the day has value,
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continues to increase in value to epic proportions or go the way of beanie-babies that were a ton of money. nobody really knows how it is going to shake out because at the end of the day, it is about a group of people coming together, deciding over long periods of time things have value. some that endures like gold, art, what not. some of it doesn't. so you know, as dan was saying, it is a good alternative investment but it small amount of your portfolio into alternative investments, this could be some of it. you're looking at risk adjusts return, may not want to put every last dollar into it. neil: yeah it is. if you want to risk something, knowing it is a risk, great buzz around it, by all means have at it, for your retirement and maybe for your kids future, depending your time perspective, whether you care about your kids future that is your call that is your call, depends on the kids, right? >> cavuto coin though, cavuto coin. neil: i tell me kids your mother
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♪. neil: the band stays. right now we're hearing from facebook that it is going to continue to ban president trump. it will review this, maybe in the next few months but for now he is persona non grata. hillary vaughn with more on capitol hill. reporter: neil, former president trump is sounding off on the
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news that his facebook account will remain shut down at least for now until november. saying in a statement, quote what facebook, twitter, and google have done is a total disgrace and an embarassment to our country. these corrupt social media companies must pay a political price. facebook has six months from today if it will keep former president trump's ban on the platform or not. if they do, they will have to decide how long the ban will last or if it is permanent. the ruling from the oversight board which facebook says is binding comes as they criticized facebook for how they handled the ban in the first place. one of the board members today telling reporters that for critics of big tech, this critique from them should quell some of their concerns. >> anyone who is concerned about facebook's excessive concentration of power should welcome the oversight board clearly telling facebook that they cannot invent new, unwritten rules when it suits them. reporter: facebook says trump's
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account will remain suspended until they decide what to do. they reacted to the ruling saying this, while the board not required facebook to immediately restore mr. trump's account, it has not specified the appropriate duration of the penalty and insisted we review our response. we will consider the board's decision and determine what action is clear and proportionate. meantime mr. trump's accounts remain suspended. democrats on capitol hill are going on a campaign to pressure facebook to make the ban permanent. dnc tweeted to their followers calling for and all out ban. elizabeth warren tweets facebook is a disinformation profit machine and won't accept the role of safety of our democracy and its people. neil. neil: thank you, hillary. the great rush is on to open up the country, including opening up our schools but the best evidence this is long overdue come from kids who say the
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darnedest things when it comes to online learning. >> all my classmates turn their cameras off. i honestly don't blame them. it is hard staying online and harder to be on your camera, paying attention. ♪. ground on your biggest project yet. worth is giving the people who build it a solid foundation. wealth is shutting down the office for mike's retirement party. worth is giving the employee who spent half his life with you, the party of a lifetime. wealth is watching your business grow. worth is watching your employees grow with it. principal. for all it's worth.
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♪. reporter: welcome back to "coast to coast" with neil cavuto. i'm ashiah hasnie. the schools canceled columbus day. new york governor andrew cuomo disagreeing and columbus day should not be canceled. new york department of education changed the columbus day in the 21-22 school calendar to indigenous peoples day. after a big uproar about this, officials added italian heritage day. the school chancellor says discussion about renaming the stay began last year to better reflect to honor more than one
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person. as you know dozens of cities across the country canceled columbus day last year following protesters destroying christopher columbus statues. new york councilmen joe borelli says columbus day and christopher columbus is a national hero for italians. that this decision should been left to legislators. listen. >> this is the legislative equivalent of putting a mask on and throwing paint on a columbus statue hiding your identity. this is the sort of cowardice you expect with people who line themselves with mobs in the street. reporter: neil that is what people are talking about right now. we didn't see this swift action when it came to getting kids back into the school buildings but we have this and really people complaining that there was no public discussion about it. neil? neil: just adding salt in the wound, thank you very much, ashiah. in new york city on that. one big reason, karol markowicz,
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great "new york post" columnist, crackerjack writer left new york for a while. temporarily camping out in florida. carol, you did that based on what? when you first left new york because of everything like this going on in new york or did that all come later? >> well, it's a mixture of things. i think in the last year plus, new york has really not had a lot of glory. i think our governor has done a terrible job. i think our mayor of new york city has done a terrible job. i felt i was raising my kids in a crazy place. i wanted to get them out for a little while unfortunately. we're still new yorkers, we're going to return but it is, you know, it just sort of you have to do what is best for your kids. that was the moment we realized, we need to go. neil: florida is a lot less expensive place to live. must be appealing? >> well the thing is it is always been. people are saying oh, the weather in florida or low taxes. it has always been the case. what happened, what really
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changed is that new york started to fail on a really grand scale and so i think see a lot of new yorkers making the move to florida. i don't blame them. neil: you know, i'm wondering, you talk about -- reassess, maybe come back, what if in-person classes are delayed next fall in new york, then what? >> so i'm very concerned about that and i've been saying that all along. funny a few months ago when i said i don't think that full-time regular school comes back in september, a lot of people said oh, you're just scaring people. why are you scaring parents? but now the white house is saying well, we don't know, maybe, we'll see. i think that parents need to have a plan b. if your school is not open today, it might not be open in september. if your school has largely been closed this year, your school might not be open in september as remote students decide to come back. they have to maintain the three-foot rule that the cdc suggests. so i think parents need to make
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a plan b. my own family, if schools in new york city don't open, we will not be in new york city rather staying where we're at. neil: there is also the crime issue. there is also some of the other things associated with living in new york and people returning. some of them are scared to go back to their office jobs they heard of that crime, many cases up double, triple digits. that is weighing into the fears as well, right? >> absolutely. i think that the problem is the subway system is playing into all of that. the thing we need to come back and be normal. we need to live our normal lives. we need to stop masking in no risk situations. get vaccinated. take the mask off. go back into the office. that should be the way we continue. i think that would have an effect on crime. a lot of crime is crime of opportunity on empty streets. if we get our city back to sort of functioning i think we'll see a lot of that go down. neil: all right. we'll watch it closely. keep us posted on your florida
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doings, how on you're doing them in florida. always great chatting, karol markowicz, "new york post" columnist. dow moving up and s&p and nasdaq tacking along this time. we'll see what happens. ♪ walter, did you know geico could save you hundreds on car insurance and a whole lot more? so what are you waiting for? world's strongest man martins licis to help you break down boxes? arrrggh! what am i gonna do to you box? ... you're going down! down to the recycling center! >>hey, thanks martins! yeah, you're welcome. geico. switch today and see all the ways you could save.
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neil: so let's explain what was behind this decision, governor. >> employers can't find workers it's across all industries. restaurants are having to shutdown for days because they can't find cooks or wait staff, so we made the decision yesterday, these supplement all unemployment benefits, honestly, we've got what we incented, we were incenting people not to work, so we made the decision to opt out of the federal supplemental unemployment benefits, and replace it with a back to work bonus. neil: all right, that is the montana governor's way of saying thanks, but no thanks to these extended unemployment benefits provided workers in his state who are now out of work that's the extra $300 they've been getting from uncle sam on top of what other benefits in
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this case montana is providing to the tune of about $582 a week , he says that this will incentivize them, as well as the $1,200 check to find a job, and stick with that job for at least four weeks. jeff flock is in philadelphia right now speaking to a lot of folks who are finding this a positive development that it will get and maybe open up more potential jobs if other states followed suit. jeff, what's the latest there? reporter: well, because they can't find enough workers in philadelphia, particularly in the foodservice industry, this is a place and i'll tell you, that's bon bon you're looking at on the street and another string of restaurants called hip city veg, and what they have done and nicole marquise owns all of this stuff and restaurants in washington as well as in philadelphia you can't get enough workers so you are taking a bold step. >> yes it does feel like a bold step but we feel like it's the right time for our workers
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and our company. reporter: to raise your minimum wage, if you put the numbers up, neil, we talk a lot about minimum wage. new york city still has a $15 an hour minimum wage, other big cities have high minimum wages in philadelphia it's $7.25 and you said no, were minimum wages $15? >> yeah, you know 15 for our families is our commitment to raising the minimum wage at all of our restaurants at hip city v eg to $15 an hour, we feel like it's the right step for our company now to invest back into our people, that's our greatest assets. reporter: because like i said, they are like other restaurants neil and maybe i'll just give you a look at what this looks like here is folks having a nice lunch. they can't find enough servers, enough people to cook the food and do whatever, by going to $15 , you are, you know, you're getting people's attention. >> i think we are. you know, it's definitely going to help with recruiting and it's going to help with retention. it just makes good business sense right now. reporter: your competitors and
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look, down the street you see all kinds of different restaurants here. you're competing with a lot of people. they're not paying $15 an hour. are you going to have to raise your prices because how you can compete? >> we're going to take a look at the price increase, just like we do with food costs like we do with rent and utilities, we're going to factor all of that in, but this is really about creating career, not just jobs, and that's what we want at hip city veg, our employees to know that you can start a career here reporter: a lot of people that eat at these restaurants say i heard that, they treat their employees nice i want to go eat there. >> i think that's exactly a great point. we already have customers e-mail ing us saying thank you for doing this , i used to eat at hip city veg once i'll eat there twice a week now. reporter: by the way neil i know you're a big fan of plant-based foods, italian that you are, there are no whatever the heck you guys eat, so i'm guessing, you know, veg is your thing.
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neil: yeah, okay. jeff, we'll talk later, my friend but i wish her well. this is tough times, but hopefully, we get through them. thank you very very much. in the meantime here, tough times all around. it's especially if you're coming back and trying to get a mortgage where the demand right now is a little dicey, given the fact that rates have been backing up a little bit still under 3% for an additional 30 year fixed rate mortgage but the problem is the price of the underlying home itself, both existing homes and the prices for new homes, buffeted by all of these higher costs that go into them, and the strong demand for homes in general, is kind of putting potential buyers in a bind here. beth freedom is with us of brown hairs stevens real estate, ceo. beth good to have you. is this a problem, is this getting to be a problem that some buyers are getting priced out or sort of shoved out? >> hi, neil, so nice to see you again. you know, it is a challenge. it depends on where it is.
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for example, connecticut areas like the hamptons and palm beach , those areas, there's no supply, so buyers can't find what they want there, but you know, new york city, there is a lot of supply, and incredible opportunity here, and as you mentioned, rates are still so historically low, so they can take advantage of places like new york city and brooklyn, and harlem there's great apartments to find here. neil: so what's happening on the new construction versus existing home front? >> so new construction, there is still a great deal of over supply in new york city. we have a lot of buildings that we're trying to sell and that's taking time, but the new homes, people are looking to find a place where they feel they're getting a good value, and new development now, you can see , you can negotiate, developers
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are being more flexible so a lot of buyers are looking in that arena as well so it just depends on what fits your model and what you want. neil: you know, you know this business far better than i, bess, but i've always seen in history, that it's the economic environment, not so much where interest rates at a given moment or even the market is at at a given moment that really contributes or doesn't to housing. in other words if people feel safe in their job prospects, if jobs are plentiful and that there is great demand for workers out there, that's the back drop that you want and need. is that the back drop we're getting to now? >> we're hoping to. i mean, little by little, you know, things are opening up, which is helpful. people are getting vaccinated but what everybody is looking at right now, specifically for new york, are all eyes are on biden 's policy for taxes, what's going to happen, are capital gains taxes going to increase?
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the 10-31 is that going to go away? personal are concerned about that. we don't want everybody migrat ing and leaving new york city right now. we need people to stay here and we're seeing some of that. people are coming back to the city, people are investing here, we have a lot of first time home buyers so that's great and we just shut out a tax which was amazing, so we have to keep that up. remember, new york, we are among the highest tax population in the country, and so we don't want to deter people from coming here. it's a great place to live so we have to look at all those things neil: but you know, also, a lot of wealthy potential buyers, and sellers in new york, and with the capital gains tax expected to go up, if you combine everything over 40%, that includes real estate purchases for this rich but powerful slither of the population and that it would have a domino effect. do you buy that because the administration minimizes it so this is actually a very small percentage and it really won't
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make a huge difference up to real estate period, what do you say? >> i think it will have an impact. we have to be very careful. there's been so much legislation that i think could potentially really hurt new york city. we're looking to get more of a moderate balance here. we don't want to demonize the wealthy, that doesn't, that hurts us. we want people to invest here. as i've said before, we want tourists to come and we have to keep people here, so i do think it would hurt us and i don't think it should be minimized. we have to really watch that policy and hope that it's based in economics. neil: well you have your worries >> [laughter] i have my worries. listen, neil what we should all focus on here in new york city is the mayor's race which is coming up june 22, and there's a lot of great candidates out there and new yorkers have to get involved and pay attention, and vote. we need to all pay attention and vote. neil: yeah. >> as i'm sure you would agree.
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neil: yeah, their participation is always so low. i don't understand, because they used to call it the second toughest job in the nation. >> it is. i mean, i don't get it either. i hope they will pay attention. i think people see that new york city is desperate for some new great leadership and i think people are paying a little bit more attention. i hope they are. neil: yeah, a little bit more attention to the economic environment and whether you should have statutes of christopher columbus, that might be a start but bess freedman ceo. >> thank you, neil. neil: thanks bess, very very much so how does this affect the appetite for people to buy or not buy or to go ahead and dip their toes in the real estate waters. let's get the read from mike gun zehman fox news headlines 24/7 reporter whether he's looking to in real estate, kelsey buller women's forum senior policy analyst so guys i've got to ask you are you given these low rate, given the improving economy, giving your own soaring financial future, are you looking at this
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and saying yeah, i want in. >> um, i think that i'm a little hesitant still. i feel like i don't know exactly what's going to happen. we're hearing a lot of, you know , various proposals or this might be happening, this might be happening. i feel like the two f's neil, fear and finances, and i'm fearful for my finances, and so when it comes to real estate or perhaps even owning property or even owning houses and more, i'm still a little taken back by it and i think i'm going to wait a little bit longer for the foreseeable future, before i put down that down payment or try to figure out what's the next step for me in my life. neil: you know, i always hear you're both people an i just wonder, we're told, again, that old fogies talking to young people, like myself, are hearing that you have your doubts about the sustainability of real estate or the wisdom of it, that prior generations might have seen it as a valuable thing
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to buy and invest in and grow with. your generation, not so. it doesn't have the same appeal, is that true? >> i think that's true to an extent, in that millennials value other capitalistic items like travel and clothes and ability to eat out at restaurant s versus a long term investment like real estate. i am not part of that group as a millennial. i actually did take advantage of the low interest rates during the pandemic, and purchased a new house, but i'm one of those millennials that led the city for the suburbs and that's certainly a huge trend. that's why you're seeing so much availability in the cities versus the suburbs. it has become impossible to buy and this is affecting younger millennials who do want to make that first home purchase because the prices are so high that they
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can't offset the low interest rates, so we do need that to even out, but as soon as all these pandemic restrictions are actually lifted, i think a lot of millennials will want to get back to their normal lives and invest their money into that avocado toast versus their home purchase. neil: i got it. so bottom line, you weren't just wasting your money like guns was you were actually investing in it, so i guess she's putting you on the spot. she's saying, you know, you've got to just overcome your doubts here, and get into this. what do you say? >> well first of all, this is the story of my life. i mean, that's the story of my life right there but no i feel like if anything especially from the last year a lot of people don't even know where home is right now. a lot of millennials left the big cities, a lot of them, you know, moved to nashville, moved to austin, went back to their parents, they don't really have a home right now to go back to, and with the remote learning
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and with technology remote working i should say, with technology, you don't have to be in a single location anymore, and i think millennials are going to take advantage of that as long as they possibly can. neil: you know, holding off a lot of things though, i mean we're hearing the baby shortage going on, that right now, births and all the lowest since what, 79 when jimmy carter was president. what's going on here, kelsey, because i could understand a lot of trepidation in the middle of a pandemic, but people forget that this was a trend that had been going on for years. it picked up steam, obviously, last year, but it is an issue. what's going on? >> this is an enormous issue. our birth rate right now? where around 1.7 and you have to compare that birth rate to the desired fertility rate. the desired fertility rate, according to studies, is closer
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to around 2.7 and so what accounts for that discrepancy there, that families want to have more children, but they are achieving their fertility goals and i think that's a very sad statistic and it reflects an over emphasis on work and career and travel delaying marriage to accumulate all these things versus the investment in starting a family and purchasing that home, and so forth. this will have huge implications on our economy, look no further than japan to see what will happen, when you don't have young americans out there, as consumers feeding into the economy and also taking care of the older populations. neil: yeah, because the only reason why i want guns to have kids so they can be paying my social security and if that doesn't happen, i mean, it could be problematic but we talked about buying a house and now family formation, i don't want to rush you on national tv but
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any thoughts? >> well, neil here is the thing nobody needs me to have any children anytime soon, all right society did not need me to have that but it goes to kind of what i'll say before though. fear and finances. you look at fear, i really think that a lot of parents were frightened in the last year, and that maybe one week they're planning ongoing on vacation, the next week they literally aren't allowed to leave their house and maybe they were planning on having children and they kind of took a step back, they halt, they paused it, just to see what was going to happen and then the financial side, neil, is debt, debt, debt! student debt, credit card debt, job uncertainty across all independence and sectors, am i really going to bring in a child right now? a lot of people are like hey, wait and times have also changed , neil from the 40s, 50s, 60s things are different, people living longer, females for example, women are not, you know , stay-at-home as much. they are out in the job place, they are working more, so times are different from when the
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family was having three, three and a half, four children, et cetera, that now it's like hey, maybe take a step back and we don't have to rush right out of college to have children that longevity is expanding expectancy et cetera, that maybe we can take things our own way and i think that's what a lot of millennials are doing. at least i am. neil: at least someone's doing something for a variety of reasons. thank you both very very much. >> thank you. neil: these are the statistics, right now. i'm always intrigued by these figures that average women will have maybe 3.6 children or in the latest year, 1.6 children. i always say well how do they average that out? i know it's a thing but what about the .6 child? what's the story with that one? i guess it's a statistical average but i always scratch my head. >> ♪ ♪ ♪ ♪
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we're invested in making our apps easy... ...to give you personalized assistance around the clock. and we're committed to keeping our team and customers safe by working from home... ...and using precautions in store. see what we're up to at xfinity.com/commitment >> you know, i think cryptocurrencies, we don't really have inadequate framework
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to deal with the different issues that they pose from a regulatory perspective. neil: all right, she sounds like a bit of a doubter to me, we're talking about janet yellen, the treasury secretary, the former fed head and those kind of comments make you wonder if regulators sort of circle the wagons around this whole cryptocurrency industry that's widened and developed way beyond just things like bitcoin, ethererum for example, a big beneficiary today charlie gasparino has been following all of this. charlie where do we stand? charlie: you know, i do have breaking news right now, sources tell the fox business that janet yellen will crackdown on cryptocurrencies because of the invention of a cavuto currency. they say this is a step too far in this market, that it's a sure sign of a top, that it's going to lead investors into ruination , and they are going to crackdown on it immediately, story developing on this , back
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to you. neil: i appreciate that, i've always been very leary of italians venturing into this , but something weirds going on, right? charlie: [laughter] well here is what i could tell you from, i've been speaking with people close to the biden administration on this for a while. some of the major investors, some of the crypto trade rooms which are trying to keep tabs on it in washington, we've had the crypto mom from the sec on this , there's something coming down the pike and i think tomorrow we'll get some indication from the hestapurse, is the crypto mom, the sec commissioner is in favor of crypto, but tomorrow, her boss, gary gensler, the sec chair is speaking before the house financial services committee and a lot of people in the crypto industry think is that you'll get some indication about what type of regulation is coming at them tomorrow in the gensler hearing. now remember there's two parts to this thing. there's what the sec is going to do, there's a potential for
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the ftc, the commoditieses futures trading commission, to do something, because there's a little bit of a turf war here as to who controls crypto, and then there's stuff that yellen will do. yellen is the treasury secretary and she's been asked to come up with a broader framework from what i understand that will lead to a much more coherent policy. it's all in the air. i will say this , neil. they don't really, the biden administration is right now is so focused on stimulus and covid , and covid as it should but stimulus as we're coming out of this whole thing, and pushing through the $5 trillion package, that much of its regulatory dynamic is still up in the air. there is no chairman or chair person of the ftc, there's no chairperson of the f cc, there is no head of the anti-trust division of the u.s. attorney's office. if you don't have those positions filled, nobody knows what's going on in terms of policy, and the only place where you do have a chair is one
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of the few places you have a chair is gary gensler, obviously you have janet yellen, and but still, this is not a priority of the biden administration that's come up with a crypto plan so it's going to come. it's unclear what it's going to be, how difficult, how tough it will be, and one other thing i will say, neil. there is a whole thought in the crypto industry as opposed to regulations quashing it. there's that thought out there. the other thought is that if you come in with some broad regulation that doesn't totally out law bitcoin which a lot of people doubt is going to happen, you know, it's probably long term good for the crypto business, because you are sort of legitimizing and normalizing cryptocurrency which janet yellen has deemed in the past, she's been very critical saying that bitcoin is used for drug transactions, so we're going to, tomorrow is going to be a big day and depending on what he said, gensler could move the bitcoin market if he talks
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about a very strict crackdown enforcement on bitcoin , but again, this is still like way up in the air, and it between a couple of, there's a lot of turf trying to divide up the crypto landscape from a regulatory standpoint, neil back to you. neil: and to shut it down that train already left the station. that might be too late for that. charlie: unfortunately there's going to be a cavuto coin too, i think just to be honest with you neil: i think we could merge our coins. that's what i think you could playoff the italian thing on the one side. charlie: well i would say to italians, italian americans, by the way happy columbus day, but i was thinking of the cavuto coin having your face and dr. evil's face like right next to each other. like you like this and him like this. right? neil: [laughter]
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it be worth billions. all right, thank you my friend, charlie gasparino, making friends left and right on all of this. all right we have a lot more coming up including the pile-on against liz cheney, what's always interesting about this , liz cheney has been faulted by republicans for calling out donald trump. not donald trump for calling out liz cheney, mitch mcconnell, republican party officials so liz whose in trouble. ♪♪ ♪♪ ♪♪
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neil: all right, hell hath no fury against a politician who speaks her mind in a republican party these days dominated by donald trump and donald trump loyalists, and liz cheney, for going and reminding people yet again this past week that the argument over the fairness and accuracy and indeed, the election itself in 2020 and that it was rigged is itself a
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big lie. the plans in heap of a new trouble in heat among republican leaders who want her gone, chad pergram has the latest on this drama. chad? reporter: good afternoon, neil, there are no house republicans who leave that liz cheney can survive a no confidence vote next week. republican leaders appear to have cleared field for gop new york representative elise stefanik to become the new conference chair. most republicans see cheney as cross-wise the party still supports former president trump. >> i definitely think she's out of step with the state. i think that she was elected the first time, because of her name. you know, she's just out on a raft by herself. reporter: president trump backed stefanik to succeed cheney and today mr. trump called cheney a "war monger" who has no support left in the great state of
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wyoming. cheney's dad was conference chair in the 1980s when liz cheney won the leadership post i asked if dad gave her any advice >> he told me not to screw it up. >> [laughter] reporter: but it's unclear if cheney could lose in wyoming. >> she's got a voting record that matches the state. she will talk about the key issues of energy in coal and agriculture and ranching, and that will be where the election plays out. reporter: king believes the mid-term election will be about president biden and not about those who back former president trump. neil? neil: just so i understand, chad , the genesis of all of this or renewed criticisms of donald trump after he criticize her added to that today with the war monger charge, but she has called it out as have others on the so-called big lie the election was rigged.
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it just seems to me then that she's faulted for speaking out, and challenging the president, but never the president for speaking out and saying a whole lot worse about not only cheney but mitch mcconnell, the former vice president, mike pence, and on and on we go. reporter: it shows where the house republican conference is right now. they are still supporting the former president and don't forget that liz cheney, she survived a leadership challenge, a vote of no confidence in february mainly because she had the support of kevin mccarthy, and that support from mccarthy now appears to have eroded. neil: all right, chad thank you for that, noel the gop fundraiser, georgia victory political action committee fundraiser, noel, i know before this latest brew-haha she raised over $1.5 million that is liz cheney in her re-election efforts and surprised a lot of folks that's a record amount of dough in wyoming to move forward how is she looking not only on
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the money front, but on the re-election front from your sources? >> well, from the re-election front, it depends on who you talk to. i talked to a donor this morning , and they are absolutely very turned off by the in-fighting that we have, you know, with somebody i think bret baier said this morning that liz cheney actually voted almost consistently with trump, so it's very sad that we are even talking about ousting liz cheney for her opinion about saying the big lie against trump or whatnot, because as far as voting house member, she's right on target. she's right on the money, so once again, this is going to be efforts spent to focus on something that she stands with republicans all day long, on the platform, and votes the
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platform, so, this is really a shame and what you and chad were talking about earlier, when you made the comment about so she is being pushed out, basically for her opinion on president trump and some issues there, versus policy and how she votes, so this is very discouraging and if we're going into 2022 like this , you know, where we have a really good chance of flipping the house, this is going to be really tight , and it's going to put a lot of pressure on donors and fundraising too, because if you're a donor, and you fund liz cheney, are you going to be singled out and, you know, people are going to go against you and your company because you're going for liz cheney and it looks like you're anti-trump? so i think that it's going to divide a lot more than we think.
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neil: you know, i've talked to a lot of the republican power brokers on this subject, noelle, about whether they really think joe biden is the duly and genuinely elected president of the united states. to a man or woman, they skirt around the issue, but whether he is the president right now, but they're afraid to even challenge the president or that is donald trump, and that he got it wrong, that it was a close election, certainly in those battleground states but he lost, it was no rigging going on, there's no big lie going on but they're afraid to say that for fear the wrath of trump. you could make an argument that that lost them those two seats in georgia, and i'm wondering if this risks grabbing defeat from the jaws of otherwise easy victory in the mid-terms come next year. what do you think? >> well, there's two things going on. you know, we can look at history and we can look at what happened
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in georgia, and what you said is true, but then again, on the flip side, on the argument, you're going to look at what happened in texas with the club for growth, which is a fantastic movement, that gets involved in primaries, and they kind of joined hands with donald trump and donald trump is taking credit saying that, you know, this is what we're talking about we're going to win this back because of me, because of me. i didn't really hear much about the club for growth and they funnel millions of dollars into races. they financially make it rain on a candidate but trump was like it was me, it was all me me and even saw a tweet from her and she was like thank you, we're going to win this , maga, so it made a clear shoutout, it didn't say maga and the club for growth so she clearly gave credit to donald trump and donald trump took the credit which means that it's sending a strange message, because in georgia, you saw what happened there, and then in
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texas, you see what happens there, so you can make an argument for both sides to justify whoever you're for. this is a real predicament, but going forward, once again, the republicans if we don't fumble it, we have a fantastic and solid chance to retake it in 2022. neil: yeah, and that's what a lot of these republicans are saying, just concerned mr. president, everyone let's focus on the prize, taking the house, maybe even taking the senate, setting things up for 2024 and let's quit fighting among ourselves but it's not one way, it's not liz cheney it works the other way too from the former president, but it is amazing to me that this even exists. noelle, thank you very very much for that. some of the issues that we're talking about bear watching here , because this intra-hi back and forth between the dick cheney and the mitch mcconnell against president trump or president trump against them and the party establishment, yada yada, the
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fact of the matter is that republicans do have ground and real traction pulling ground on going after all of the spending and the taxing. they feel this is a winning issue, all of this other stuff notwithstanding, but it's this other stuff that still is standing. >> ♪ ♪ ♪ ♪ sure, about this? experience capability, crafted by lexus.
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instructions for use and free trial terms and conditions. consult your healthcare provider before starting on omnipod. simplify diabetes. simplify life. omnipod. neil: all right, there's a chip shortage, you've heard a good deal about that right now, and it's even preventing the sale of cars and car production, all the major automakers have been referring to that and looking at that. we're going to explore that in just a little bit with the guy
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who is all of the automakers association ceo but all of this right now is at a time when we're doing a lot of government spending and about $2.5 trillion in the american family recovery act but again, it is getting to be a lot more expensive than originally thought, about $700 billion more than originally thought, and that's courtesy of warton study others have indicated the same that it is missing the overall spending goals by a country mildly, and that might yet to be a conservative overage. mike gunzelman, kelsey bowler the women's independent forum, kelsey that's a lot to be a lot short in other words it's as expensive as it was but apparently they didn't factor in some of these other programs that could exponential ly add to that, and that's just one area, one program of their at least two other big pieces of legislation the president is looking at, that will dwarf that, so what do you make of it? >> this is hugely concerning,
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neil and in our earlier segment, we were just talking about how american parents are not having children at the proper population replacement rate, and so if there aren't going to be young americans to pay for what biden is proposing now, which let's be honest, we'll take decades to fully pay off on top of all of the entitlements that are unpaid right now, what's going to happen? whose going to pay for it? this is a can that is getting kicked down the road and it will create very real problems for future generations, and i understand a lot of these proposals sound nice, and the american family's plan, biden is proposing some sort of taxpayer-funded universal daycare, childcare help and so forth as a mother of a young daughter those proposals sound nice, and instead of just saying no, what we as conservatives need to point out is that there
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are alternative ways to give american families help during this time. those avenues can come in the form of tax credits which actually empower parents with more options and more flexibility to choose child care arrangements that work for their families instead providing one-size-fits-all government solutions, at the cost of our future generation for years to come. neil: you know, kelsey, you make a very convincing argument. i generally don't care, because i'm of age and none of this is going to come back to force me to pay the bills. it will come back for you, kelsey, and definitely is going to come back for gunz, and i'm just wondering, gunz, and you listen to what kelsey is saying in that there are alternatives here that might be very appealing to young people, particularly young parents, and some day, gunz god forbid you will be a parent yourself, and that is something to look forward to but given these bills you'll have to pay, maybe not. what do you think? >> well, yeah, i like how it's
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called the american values plan, and there's no plan. it's just disarray and chaos and what i try to tell my fellow millennials and people my age is a lot of this might sound great like oh, under $400,000 you're not going to get taxed anymore, things sound great. you can't believe them. they are lying to you, and even if you don't get taxed more, guess what? you might not have a job, because of all the taxes that are given to corporations and those and the bosses and those that might hire you or you had a job with, so of course, yeah, a lot of this might sound great but it is so frustrating for younger generation where they just, you know, they just look at the candy and just they are the kid in the candy shop and like oh, yeah this is great that looks delicious i want that i want that give me everything i can with the freebies and it's disheartening and frustrating because it's not sustainable. you know, especially democrats are all about freedom and fairness and all this. well, what about, whose going to
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pay for this? what about those that already sent their kids through college or those that don't have kids going through college and now they have to pay for them to go through this free community college, but they're not getting any spending, you know, they're not getting a break. everything is just going up, so logically, neil, i don't know everything, but logically, i don't see how this makes sense, at all. i don't see how this works. neil: well, it doesn't add up but what we know is the numbers are adding up. we know it's a lot more expensive when you promise people that much it's going to cost a lot more than the advertised price. mike, final word, kelsey thank you very very much, i'm sorry that you're young, and dealing with all of this , but good luck we have a lot more, after this. the world's first fully autonomous vehicle is almost at the finish line what a ride! i invested in invesco qqq a fund that invests in the innovators of the nasdaq-100
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neil: all right, don't be surprised that next time you go car shopping if you haven't already there's going to be a delay in getting your car in because of this chip shortage, it's that widespread, and having that much of an impact on auto production. all the major car makers are talking about it and dealing with the , john boselle of the global automakers association, ceo, john always good to have you now the latest move is we're pushing taiwan to
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makeup for the gap here by providing more chips. do you think that's going to make a difference? >> yeah, you know, neil, i do think it will make a difference, but we also have to be cognizant of the mid-term and the long term here, right? i mean, we do need resilient supply chains. we're going to lose over 1 million units of production of automobile production in the united states this year, maybe even more, so we got plants idled it's a critical shortage and i do think that the chip manufactures are looking at how to respond to this demand. neil: but they can't or either they are unable to and i'm just wondering, why do we suddenly see taiwan as the magic bullet? they already ship a good number of chips to us to makeup for the slack, i don't know, but what is the problem and how long do you think it drags on? >> yeah, you know that is a problem, and we really, this problem came to us, really,
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right in front of us during the pandemic. we shutdown auto production in the united states for the first time since world war ii, completely last year, at the same time chip demand for consumer products went up, so it shipped fabs including companies in taiwan took that more profitable business. that's a problem for the auto industry. we do need to see chip production of mature nodes, chip s that go into autos that go into defense products and that go into manufacturing. we don't have that as much as we need to in the united states, so in the short-term, you know, the diplomacy we see going on between the united states and taiwan i think may start to get some traction, but we do have a supply chain challenge that we need to address in the mid-term and the long term here in the united states, and i think government policy is going to have to get and help here. neil: you know, john, in the meantime, how do you advise car buyers? where do you lead them, direct
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them, where is there less of a line or a delay? >> yeah, you know what's really tough? i have never seen, i've been around this industry for 25 years. i've never seen dealer inventor ies as low as they are today. lowest we've seen in decades, and at the same time, demand is high. people are back, going back to work in the workplace and so you're seeing demand for vehicles, you know, roar back. it is a real challenge in the marketplace right now. we're also seeing as a result of that used car prices going up, so when you factor in the chip shortage, we do have a problem. used car prices up, new car prices up. there is still dealer inventory but it is a challenge right now. neil: to put it mildly, john boz zella, thank you, john, global automakers association ceo. peloton is recalling all of its treadmills after reports of at least one child has died and
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the show, talking about a plan to end federal subsidies, extending unemployment through september. that $300 extra, he is closing off in an effort to get more people off the benefit and fobs. offering them $1200 to do just that it seems to be going viral. we'll be exploring that. here is charles payne right now. hey, charles. charles: neil, thank you very much. it is an issue around the country, for sure. i'm charles payne. this is making money. janet yellen flip-flops on interest rates. stock market rebounds but don't make a mistake, biden will have a taxes with folks paid not to work. along with the stock market this is party time and a lot of money to be made. plus, facebook's oversight board will keep the ban on president trump for the future. we'll break down if it is even
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