april 30th, 1952. it originally cost 98 cents. they made four million in the first few months following that ad. i never got that in the uk. i wonder if my parents didn't trust me with all the wood sticks. probably not. checking markets, we are at session lows. the dow off 446 points. kind of a repeat of yesterday. david asman in for neil my apologies again, it's yours. david: mr. potato led was a wonderful toy. just got a potato. easiest toy imaginable for parents. you buy a potato. you stick things in it. it was a wonderful idea. thank you, ashley. welcome to "cavuto: coast to coast." i'm david asman in for neil cavuto. a jam-packed hour ahead as we bring you the headlines coast to coast. consumer prices shocked analysts in the biggest spike in more than a decade.

is this just the beginning? we get the read straight ahead. from inflation, rising fuel prices and gas lines like we haven't seen since the 1970s. a lot of drivers in the southeast went to fill up today and found out there wasn't any gas left at all. reaction from arkansas republican governor asa hutchinson coming up. san francisco schools reopening, it could be just for one day, so schools can cash in on a 12 million-dollar bonus. leaving parents outraged. that is coming up. first to the top story of this hour. panic buying grows over fear after gas shortage. gas prices hit average of $3 nationwide. as refiners desperately store fuel with nowhere to go. fox news's edward lawrence is at a gas station in alexandria virginia, with the very latest. reporter: david, i was checking the board.

it went up from 3.29 to 3.34. that is within the time we're standing here. there is a line to get into the gas station. we are told by the manager. they're out of premium gas. they are out of mid-grade gas. they have 90 minutes left of gas at the rate they're selling it. news about the gas is causing long lines from d.c. to florida. look at some other pictures we're seeing here. drivers seeing. this according to gas buddy, almost a quarter of all gas stations in north carolina are out. virginia, where i am, 15% are out. the pipeline still shut down. it stretches 5000 miles from texas up the east coast to new york. it delivers about 45% of the fuels for the east coast. now last night the administration work group met, they decided to waive the weight limits transporting gas by truck in the affected areas. the epa announcing waivers for pennsylvania, maryland, d.c., and virginia.

a second waiver this morning includes alabama, delaware, georgia, specific counties in florida, louisiana, mississippi, north carolina, south carolina and tennessee. those waivers mean any type of gas can be brought in and used in affected areas where there is a shortage. a fleet of more than 10,000 trucks are driving the gas to the affected area. the the industry trade association says they are working closely with government to find supply. listen. >> steps the epa has taken will help ease the issues currently being faced in the fuels market and you know, we'll closely monitor it as an industry. if there is more to be done we'll make that request at the federal and state levels. we're working very closely with the government right now as an industry. reporter: the goal is to supplement where there are shortages to wait out until the pipeline can get back up and

running. colonial pipeline says they should have it turned on by the end of this week. again this has been slow-going. you can see people are not, are worried about it. there are lines here at the gas stations. david: unbelievable those prices. extraordinary. a year ago they were just above two dollars a gallon. thank you very much, edward. kingsview asset management cio, scott martin, former dallas fed advisor danielle dimartino booth. danielle, first to you, we're heading into a full-blown energy crisis. can president biden avoid the blame here? >> i do think the administration can probably get around this particular issue. there is gas in the pipeline. there will be relief. it will take a matter of days. there is a lot of panic buying going on. i heard from colleagues in washington, d.c. that people have shown up at gas stations with empty plastic bags to fill up. they're hoarding gasoline.

it does appear the biden administration could have been a little quicker on the draw in terms of responding to this, broadcasting the message that relief is on the way regardless of what happens with the pipeline itself. so there was a delay. these types of delays can be very damning especially in light of the current circumstances we have the policies of the democrats now, when adjusted for inflation, you have massive pressure on wages as well again. this story has been covered over and over. people are being paid more to stay home than they would be in the workplace. david: we'll talk about that. we'll talk about the inflation numbers which shocked everybody today. but i want to keep on gas for a second, and energy specifically, scott. just a year ago before the election, we were proud and happy we were energy independent. right now the way they're solving this problem is by importing fuels. we have to import fuels just to

get enough for the gas stations. what a change in a year. by the way, excuse me for interrupting, scott what we're looking at now, that something, a picture i took on november 7, just after the election, 2020. the price of a gallon of gas in new jersey was $2.01. go ahead. >> same here in chicago. it was low twos as well, david, rocketing up towards four bucks. nothing like giving up some of our national sovereignty as far as energy policy that trump instituted which biden obviously rolled back, giving up the sovereignty so we're reliant on foreign oil again. danielle is right, the messaging from this administration has really been the problem. i don't foresee a major energy crisis coming, thank goodness, look what happened with the keystone xl pipeline, other iterations out of the administration against the energy sector. those have not been good. what has been interesting, david, if you can believe it,

since the election, since the inauguration, one of the best sectors to own in the s&p 500 has been, you guessed it, energy. we own energy in kingsview in some of our portfolios. that is a way to combat along with materials as well some of this inflation square circulating throughout the market. you're seeing that in stocks today. david: let's talk specifically now about inflation. danielle, consumer prices jumping 4.2% year-over-year. that is the biggest annual gain since 2008. stocks of course went down on the news. i'm just wondering where this ends? is this just the beginning? as we were talking about he have that doesn't even count wage inflation which clearly is coming as a result of trying to lure people back into those jobs that are waiting for them? >> so you know i think the real problem here is, not necessarily the 4.2% headline but we had a 0.9% increase in the core cpi. david: right.

>> which the federal reserve pays very close attention to. that is the biggest increase since 1982. so again it is going to be a about messaging. vice-chair richard clarida was on the wires today, saying he was quote, quote, surprised by the increase in inflation. we can't have people at the federal reserve saying they're surprised. we knew base effects were coming and month over month changes are extraordinary. in large part do reflect a confluence of all the supply chain disruptions, shortages everywhere. in addition to spring break. we saw airlines, hotels, those prices go through the roof. because a lot of americans splurged, went out, got out of the house, hit the road in march during spring break because they could. you know, again there needs to be more clarification and certainly not any surprise out of federal reserve officials. david: scott, the fact is that we're story getting the main

factor in my mind which is government spending. we're spending trillions and trillions and trillions of dollars. when you do that you get inflation, right? >> to some degree you do, david. i do believe though, i agree with federal reserve chairman jay powell saying that is a transitory type effect. i challenge or channel my inner milton friedman here inflation over the long term, david, is more of a monetary phenomenon as danielle hit on that has to be wage related. technology is finding a deflation counter intuitive factor. david, pushing 30 trillion in national debt? we printed almost 10 trillion or looking to print 10 trillion now in the latest covid relief stuff if you add it up all correctly, if we pay that debt back, david. we need inflationary dollars. we have to pay the debt back in

cheaper dollars. we better hope inflation -- david: you quoted milton friedman. it is very simple, too much money chasing too few goods. we have a lot of extra money in the markets because of fed buying up the bonds, we have a lot less goods because we can't get people back to work. >> you know it's a terrible combination and i think that if the administration and if the democrats don't understand at this point that too much stimulus money can be a bad thing for the economy, it can produce unintended consequens. david: but the president, danielle, forgive me the president doesn't get it. the president is saying it is not related. that the money that we're spending on keeping people at home is not related to the fact we have 8.1 million unfilled jobs. owe said there is no connection. >> look, then he is not connecting the dots. it is pretty simple math. the average american right now is getting paid $17.50 an hour. that is just with the

unemployment benefits. david: amazing. >> not talking about rental moratorium. david: right. >> look at that. it is simple math. president biden, simple math. david: we'll wait and see if he wakes up or the administration wakes up to the simple math. good to see you both, danielle, scott, thank you very much. back to what could be a looming energy crisis. reaction from arkansas republican governor asa hutchinson. governor, i know we want to talk about jobs as well but first off let's talk about the energy prices and these gas lines. you and i, go of, i don't want to put you in the old age category, i remember the '70s and gas lines, i'm sure you do as well. just a year ago we had anything but. we had two dollar gas prices, two dollars a gallon. no problem with supply. just a couple of major moves by this administration have forced us into exactly the opposite situation. >> well, i do remember the '70s and this is one of the reasons that jimmy carter did

not get reelected because of the gas lines. i hope that this is a short-term circumstance that we're in right now. all indications are that it is. but there is lessons for the future. one, the energy supply is critical. and we've got to have multiple energy sources for our country so that if one is hit by a cyberattack, we can divert to other sources. secondly, we need to invest in our cybersecurity efforts. that is one of the things that we hope the american rescue plan money can be used for to invest in cybersecurity. obviously that is the governmental side but the private sector has to do it as well. this shocking to most americans that one pipeline can have such an impact on the east coast when ever that is shut down. we have got to have better resources, better pipelines, and more effective transit routes to

get this to the population centers. david: but governor, we had a president, an administration coming in saying they were at war with carbon energy from the american economy in the short space of time, about 15 years and the first thing the president did was to cancel the xl pipeline that was the first thing, making us more vulnerable to the demise of other pipelines. when they go down. and now we are, we went from energy independence to importing foreign oil which we're doing right now in order to get out of this crisis. i mean that is an amazing turn and you. it seems to me it is much more than just one colonial pipeline problem. >> well it is in the short term but it illustrates a bigger problem as you point out and this administration has indicated they're not going to put a priority on energy independence here in the united states in the short term. this is such a source of great pride as we talked about we

talked about our energy dependence upon foreign sources. whenever we have reversed that is a great victory for the united states, our entrepreneurial spirit, our investment, our resources, we don't want to lose that edge that is so critical to our country. david: specifically why in the 1970s we were such disadvantage energywise, why we had a crisis then. jimmy carter said it was the moral equivalent to world war ii. because we were dependent on foreign sources of oil. when they cut off the spigot we were at their mercy. seems like we're going back to that losing our energy independence now, and very quickly. >> it is hard to believe in today's market where we had plenty of energy sources in the united states that it was just decades ago they talked about rationing gasoline. that is the consequence of

energy sources is rationing. the american public will not put up with that we have to maintain that independence. i hope this is a wakeup call we can revive those energy sources and slow down that transition away from our energy independence. david: it is hard to do that when you have a president at war with carbon energy. let's switch to jobs. we had the shocking number, 8.1 million unfilled jobs in the united states. about equal to the number of people unemployed but those people are not going to the jobs that are unfilled and a lot of it has to do, you believe, but the president does not believe in these bailouts, in these unemployment benefits and you're trying to stop those unemployment benefits. as correct as you might be in terms of the analysis of the situation isn't there a political price for to you pay by cutting off those benefits? >> perhaps but it is the right thing. you have got to realize as you do, that we have our ordinary

unemployment compensation. so that stays in place but right now we are paying extra compensation for people to stay at home whenever there are thousands and thousands of jobs that are available to them. we will connect them to the job. we will help them to make sure they have any child care coverage that they need. all of those resources are there. we need to encourage them to go back to work. that's why we're giving up the $300 extra compensation that is an incentive for people to stay at home. we're giving that up effective june 26. it is the right thing to do from a principled standpoint but also to the employers are begging, begging for workers to come in to their place to go to work. david: these benefits don't expire until the end of the summer. so many businesses, particularly small businesses that were hurt bit lockdowns so much, much more

than the big bringing megacaps they were hoping to restart their business for the summer crowds. that's what they were aiming for. now those benefits will not expire until the end of summer. even if you're successful, think of the rest of the country that is stuck with these numbers, is it going to affect our overall gnp? >> well it is likely to around right now the extended benefits, the enhanced benefits continue through september. we're cutting them off early. a number of governors are taking the same steps. and this should be a signal to the administration that you cannot extend those further beyond september. that is the first worry, that they will extend them again. it can't happen. they're ready to go back to work. america is creating jobs and we need those people working and back in the workplace. david: yeah. if they extend them beyond

september it is likely that we may be heading towards a recession as a result of that. i don't know if they would go that far. governor asa hutchinson, thank you very much for coming in sir, appreciate it. good to see you. violence between israelis and palestinians escalating toward and all-out war. we're live on the ground in israel when we return. ♪. our retirement plan with voya, keeps us moving forward. hey, kevin! hey, guys! they have customized solutions to help our family's special needs... giving us confidence in our future... ...and in kevin's. voya. well planned. well invested. well protected. experience capability, crafted by lexus. the remarkable gx and lx. lease the 2021 gx 460 for $529 a month for 36 months.

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david: more violence in the mid-east. trey yingst is live in israel. trey, i'm told there are more rockets incoming. what's the latest? reporter: david, there are more rockets incoming receipt now. i will show you the scene. you're able to see the smoke trails from these rockets coming from the northern part of the gaza strip. my team and i had to just hit the ground. a few of them were intercepted by iron dome positions south of the city of ashkelon. we know this is likely in response to a decision by israel to target one of the tallest towers in gaza. it is called the alsharuq tower. this tower in the past was used for media. now there are offices in it. basically israel took out the building with a number of airstrikes.

hamas, islamic jihad factions inside of gaza, that they will respond with medium, long-range rockets if they continue to hit the towers. the barrage a minute ago, the first example of probably many to come to flight. over the past two days we've seen more than 1000 rockets fired into israel. the israelis are responding firing and striking targets. 16 members of hamas were hit today. 10 of them being high-ranking commanders in the group. prime minister benjamin netanyahu will continue the fight against hamas and islamic jihad as they continue to fire rockets. some on the ground operations takes place today. we know the israeli military hit three different anti-tank units inside of gaza. one of the units was successful firing an anti-take missile at a group of israeli soldiers. the soldiers were severely injured. one of them died. we made it to the hospital as they were being treated.

we asked the top e.r. doctor, how they were doing and how the treatment was going. take a listen. >> over the years what we've seen is an increase in the violence of the ordnance being used, not only military traditionally military weapons where you would expect it which is anti-tank but also in the missiles being fired in the residential areas. i think over the years we've seen they have more, more power, more explosive power. reporter: around us right now there are tanks off in the distance and they are staging. overnight we started to see trucks carrying these massive tanks to the border. the israelis clearly preparing for the potential of a ground operation. this comes as the international community including the united states is urging for a cease-fire and end of hostilities for both sides but if today is any indication, the fighting will continue throughout the day and into tonight. david? david: trey, it looks like

behind you, i can see what appears to be rocket launchers. is that part of the iron dome that we were talking about or am i wrong on that? reporter: that is part of the iron dome. we're right next to a position for israel's missile defense system and there are three units here right now. each one of them able to shoot down rockets that are fired from gaza into israel but the system is not perfect. it is around 90% successful according to the israeli military. when the rockets do sli by the sytem we see severe damage on the israeli side. yesterday we were at a school that was hit by a rocket. an entire part of the school was completely destroyed. additionally there were fatalities on the israeli side. we were at an apartment building where two women died. last night we saw images north of here where two people died after a rocket hit the car they were in. rockets are still slipping past the system. israel is doing everything they can to deter the factions inside of gaza firing rockets.

at least 50 gazans have been killed since the violence started. 14 are children. david: that is just aweful. you must be working on adrenaline right now. did you sleep last night with everything going on? >> in case my mom's listening i won't answer that question. back to you, david. david: i think you answered it without answering it. trey, take care of yourself, my friend. you're a great reporter. we don't want you to get hurt. great reporting. thanks a million. stocks under pressure today after the massive inflation surge. tech and consumer stocks dragging the most on the dow. more "cavuto: coast to coast" right after this. ♪.

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david: grand ol' party facing a grand ol' divide as republicans vote to out of republican congresswoman liz cheney out of leadership. congressional correspondent chad pergram has the latest. chad. reporter: liz chain? is out as gop conference chair. they expelled her in leadership in a non-recorded voice vote. republicans bounced her because xi doesn't support former president trump. >> i will do everything i can to insure that the former president never again gets anywhere near the oval office. we have seen the danger that he continues to provoke with his language. reporter: it just took 15 minutes for the gop conference to remove cheney from her post. one republican, byron donalds of florida says democrats would have kicked out one of their leaders who didn't believe, say in climate change. there is something of a litmus test for the gop. >> the conference needs to get this issue behind us and move,

behind it and move on to discussion on the biden policy agenda. certainly when we get into the elections of 2022 it is going to be an issue of do you support biden or not. reporter: immediately new york gop new york representative elise stefanik announced her candidacy to succeed cheney in leadership. the vote will not happen until . we need to unify our conservative vision and fire speaker pelosi. david: stefanik had a more liberal voting record, less conservative record for cheney, right? >> that is the concern from some very conservative members but she seems to have the votes. there is some thoughts they might delay it a month or so but they will probably vote in stefanik regardless of those concerns of her voting record. david: thank you very much, chad. thank you very much for the update. from a change in leadership to a change in energy policy, president biden pushing to

congressional leadership pushing a two trillion dollar spending plan as they look to transition towards more green energy. so far that hasn't been working out too well at the gas lines. blake burman is working out from the white house with the latest on this. >> this is consequential of a meeting politically as one can possibly put together in washington d.c., when you talk about the president and the vice president meeting with the oval office with the big four congressional leadership. we saw a little bit of video there. on one couch chuck schumer, nancy pelosi. on the other couch, kevin mccarthy and mitch mcconnell earlier today. here was the president at the very beginning of those discussions about what they potentially hope to accomplish. >> the bottom line here is, we're going to see whether we can reach some consensus on a compromise. i look forward, we'll talk a lot about infrastructure today, to see if there is any way we can reach a compromise that gets the peoples work done, is within the bounds of everyone who ran.

reporter: president says they want to talk about infrastructure that is the american jobs plan. remember where things stand give or take, david, heading into this meeting. the president, biden administration talked about a more than two trillion dollar policy to be paid for raising corporate taxes from 21, potentially all the way up to 28%. republicans have said they could be good with a more targeted infrastructure package, somewhere in the area of about 500 or $600 billion to be paid for by user fees. the white house, the president has said, they don't want user fees. republicans have said they don't want to raise corporate taxes so even if they come together on some sort of a top line measure, there is still a question how do you go about paying for it. it is right now on the east coast, what time is it? 12:35, david. this meeting started at 11, roughly. about 90 minutes or so they have been in the oval office. maybe a good sign, i don't know. we'll see. -- at some point soon. david: judging a jury how long they have been out. hard to tell.

blake, good stuff. reporter: thanks, david. david: look at a wild headline we saw from "national geographic" this week, suggesting that meat production leads to thousands of air quality related deaths a year. this is where the country is in a energy crisis where gas lines are appearing fast. "washington times" opinion editor charlie hurt, former tennessee congressman harmed harold ford, jr. charlie, this is the headline from the gop's attempt to take over the house in 2022. president biden's america, you have no meat, you have no gas, you have no borders. is that the republican line going into the midterms? >> yeah. i don't think, as talented as you are, harold, i don't think you will be able to spin that one into something that taxpayers buy into it. the thing about this infrastructure plan in

particular is, you know, if they're going to sit here talk about, call it a families plan, there is nothing pro-family about piling $4 trillion of additional debt on top of the american people that are already under, whatever the, whatever the, you know, the bill is at right now. there is nothing pro-family about any of that. and this is the big problem for democrats. whether we're talking about meat production or the job killing greens plan or this, this immoral spending, government spending all of it, they're all bad ideas and it is going to make it really difficult for democrats to make their argument come 2022. david: well, harold, a president and a party, particularly the president and his party in this case which is controlling both the house and the senate, they're kind of stuck with the cards they're dealt with. president trump was not responsible for the pandemic and yet he was stuck with it on his

watch. it became an albatross for him going into the elections. is the same going into the elections what we're see agroing energy crisis for president biden and the democrats? >> well, first, thanks for having me on, absolutely. i think, as we're 120 days into this administration and there is no doubt there are a lot of things that they're learning. they would admit they did the right thing moving forward with vaccine distribution, massive vaccine distribution, covid relief. i think they would admit, starting to more and more the grt challenge, the border challenge is a crisis and it is greater than originally thought. they will have to be more creative. as it relates to the debt, i served in congress in the '90s, late '90s early 2000s i never thought i would see a time voting in favor of balancing the budget in 98 that is democrat or republican president unbalance the budget and create balance budgets we're experiencing today. both parties we can lay blame at

both. this administration decided they would make a hefty investment in the country. i'm pleased, you said there is a long negotiation underway. the republicans have been with the president and a few democrats discussing infrastructure. i think the longer they stay better it is for the country. i understand joe manchin was at the white house yesterday, met with the president. had a very productive meeting f you care about fiscal restraint, care about investment, doing a way you won't raise taxes what we're seeing right now is probably a good thing, a good thing for the country. probably a good thing for democrats heading into next year. david: but, charlie, we're already seeing the consequences of this. we see it with the 8.1 million unfilled jobs number we saw this week. >> yeah. david: the president and his commerce secretary and everybody in the administration say it has nothing to do with the unemployment extensions but in fact you talked to virtually any economist and they will tell you, of course it has something to do with that. there are consequences. some people are saying inflation. it is also consequence of all of

the spending that is going on. so the consequences very quickly are coming to bite this administration. >> yeah. absolutely. of course harold is exactly right about this. it's a, the massive spending is a pox on both houses. democrats have i think been over time have been, present company excluded, democrats have been worse about this than republicans but certainly republicans have been horrible about it. look at the iraq war, entire trillion dollar bill was put on our kid's credit card. that is not a good thing. that is not fiscally responsible. we all agree investment is very good but the question who is doing the investment. do you believe the government is the wisest entity to do this investment or do you believe that families and businesses are smarter at doing this investment? look no further than this business about the up charge on unemployment. it's a great idea. i love the idea of giving

taxpayers more of their money back, but if you're paying them not to work that is a horrifically stupid idea. we're seeing the outcome of that. david: guys, very quickly, harold, this has to come to you. you were successful in balancing the budget, you and a democrat president in the late '90s. it was an extraordinary achievement. we haven't had anything like it since. do you think we will in our lifetime? it appears we're on a course we won't see a balanced budget for decades if not lifetimes? >> i hope so. in fairness it was republican-led congress when we voted for that in '98. i hope we do. i'm not afraid after little investment. when business and america come together -- david: did you say a little investment? >> well i think, hear me out. david, charlie, knows we spent massively to win the cold war. it was the smart thing to do. we have a new cold war against china. i think it will take a smart investment. charlie is right we have to be

strategic and smart about it but we shouldn't be afraid to do it. david: we'll see more of you later in the show. thank you very much. the chamber of commerce calling for an end to extended unemployment benefits. president biden says it is not an issue. we seem to get more proof that it is actually an issue. the chamber's executive vice president is here to talk about that next. ♪

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visit us online at findingtruepeace.com (judith) in this market, you'll find fisher investments is different than other money managers. (other money manager) different how? don't you just ride the wave? (judith) no - we actively manage client portfolios based on our forward-looking views of the market. (other money manager) but you still sell investments that generate high commissions, right? (judith) no, we don't sell commission products. we're a fiduciary, obligated to act in our client's best interest. (other money manager) so when do you make more money? only when your clients make more money? (judith) yep, we do better when our clients do better. at fisher investments we're clearly different. ♪. david: u.s. chamber of commerce calling for immediate end to extra unemployment benefits and then another devastating jobs report came out. u.s. chamber of commerce executive vice president neil bradley joining me now. neil, good to see you.

8.1 million unfilled jobs. seems clear many of these jobs that are unfilled pay less than unemployment benefits and therefore it is kind of logical that people aren't going for those jobs. is that for why you're ending unemployment, the extra unemployment benefits? >> yeah, that is exactly right. when this 300-dollars extra weekly unemployment benefit, so on top of what the normal benefits someone is entitled to, an extra $300 on top of that. when congress enacted that. we ran the numbers. we concluded that at a minimum one in four workers would be taking home more in unemployment benefits than they earned in their prior job. so now as the economy is reopening, businesses are set to hire back workers. they're competing with the government who is sending more home in unemployment checks than what the employer can pay in wages. david: but, neil, it doesn't seem the president is getting the meggsage message.

the commerce secretary have you been in touch with the administration about this and what do they tell you? >> we have. we are stressing to them this is one of the causes. i will not dispute there are other causes, lack of schools being open for example, is a real problem. we have to get schools open but this is also a contributing factor. that is exactly why the president earlier this week announced they would tighten the rules around unemployment. but frankly he needs to go farther. he needs to follow the lead of the 11 governors who in the last week have taken steps to end this additional 300-dollar weekly supplement. david: you know it is happening it, couldn't happen at a worse time. just when all, particularly small businesses were hoping to get back on their feet and they werep praying that this summer they would take advantage of the summer traffic, particularly restaurants. these extensions will last through the summer. so a lot of these places will not be able to survive the

summer, it is that simple, isn't it? >> it is. we're hearing heartbreaking stories across the country who are counting on the flood of people coming back into restaurants, their business, their retail stores over the course of the summer. instead they can't get a staff to be able to keep the business even, to extend hours, to meet the lunch hour rush or dinner rush. so what they were counting on as a means to recovery has been taken away by this additional ui supplement, this competition with government. we are not in the same place in the pandemic that we were a year ago. it is time for policy makers to recognize that and it is time to allow the private sector to create and fill these jobs and get our economy back working again. david: neil, i hope you get some ears listening to you, but mouths willing to voice action, that take your position from the administration. so far we haven't seen it. good luck to you. we appreciate you coming on.

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♪. >> so three days of school, maybe 500 students. san francisco unified school district is getting 12 million tax dollars. lawmakers wanted to bring back in-person learning but because schools wouldn't do it on their own lawmakers hung out some bait, $2 billion to reopen. the law said the district had to open k-12 plus one middle or high school grade for friday, but stay open at least three weeks. what is san francisco doing? the least possible. it will open two to three high schools, not 12, for a few seniors. one day a week for three weeks. that is total of three days. but there is no actual instruction. like you see with the elementary kids, instead according to the "san francisco chronicle," kids will be supervised for end of high school conversations and career exploration. one parent said this plan is disgusting. what you're offering is

literally the least that can be done. the bill set this up was so poorly written, no minimum teaching time, that school be offered, not attended. a handful of students show up for an hour, the district gets the full 12 million. ironically many private schools have been open since fall but the unions in san francisco unified claim, despite months of lead time they could not do it. so the district has about 5,000 seniors. as of last week, about 500 said they would return to see friends but no teaching. back to you. david: thank you very much. how is this for interesting timing? 2/3 of californians could get an additional $600 in state stimulus as part of governor newsom's proposed multibillion-dollar spending plan. to fox news contributor, "washington times" -- charlie hurt is with us. harold ford, unfortunately we lost his feed here. it seems to be very interesting timing. a lot of people are saying that

the governor is just using tax dollars for his re-election bid. what do you think? >> yeah, oh, my goodness, you think? it's a good idea, if you have a surplus, absolutely taxpayers ought to get their money back, there is no doubt about that. the problem when you're cutting those checks based off of adding debt to the national debt, that is not, that is not helping anybody. not only does that mean that our children and grandchildren are saddled with unforgiving, immoral debt that they will never live long enough to pay off, and certainly we won't live long enough to pay off, but you're also creating, devaluing the value of the dollar that these people already earned and is in their pocket, which is why you wind up with inflation. david: that's right. >> everything costs more money. so i mean, it is such, it is such a short-term, vicious cycle and it just proves one thing,

these politicians all they care about is buying these votes but they don't care about actually solving problems or, you know, or, you know, doing what is right. david: you know what makes it even worse? is the fact that california has a 76 billion-dollar surplus. 76 billion-dollar surplus, and they got $42 billion in federal aid from tax payers in kansas, florida, everything else. they are taking money from the entire nation just for this re-election bid. >> right. and you know, obviously, what harold was saying, we both totally agree with that, investment is good. i love investment, but the question who does that investment. david: okay. >> if i'm doing the investment as a taxpayer or if a small business is doing the investment as a -- david: whole different story. charlie i have to cut you off. we run out of time. we'll be right back. stay with us.

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david: breaking news, we just heard from republican and senate republican senate and house leaders, we had mcconnell and mccarthy there, talking about their discussion with the president about where they're going on spending and taxing plans, and the news that came out of here, could be sum med up in one sentence which is what mcconnell said, senator mcconnell whose the republican leader in the senate. he said reopening the 2017 tax bill, the tax cut bill, i should

say, is our red line. that's where they will not bend in dealing with the president and democratic leaders in the house and the senate. we'll see if that holds, but that is the news coming out of that little press conference that we just heard. meanwhile we have our top story we've been following very closely, this is much closer to home for you folks. some gas stations in the southeast are actually running out of fuel as the national gas price average speaking above $3 per gallon. it all came to a head with this colonial pipeline cyberattack but the rising prices have been happening ever since president biden was inaugurated. fox business edward lawrence is at a gas station in virginia with an update on all of this. there are cars moving but they have run out of some grades of gas, right? reporter: exactly, yeah, premium there's no more middle grade and this gas station is under 3,000- gallons, when it comes to regular fuel and the manager tells me just look at what's

going on. the manager tells me that's about 90 minutes or so of gas left at the rate they are selling it you can see them directing traffic to make sure nobody gets upset or any of that. now the 17% of gas stations in all of virginia are out of gas today, gas shortages have been reported throughout the southeast, from florida to virginia. >> i saw everyone freaking out on social media and i was like okay, might as well get gas, my gas light turned on last night too. here we are. reporter: so as the gas runs out , look at the lines that have formed at the stations in affect ed areas this is video we took today. the manager again directing traffic all day today to make sure there's no log jam. now, with this gas demand you're seeing a spike in prices for the highest level since november of 2014. no gas is still flowing through that pipeline from texas that goes up to new york, and one industry consultant says the east coast is losing about

2.5 million-barrels a day of gasoline supply. the company is saying that it could have some of that supply backup by the end of the week. the industry expert telling me, it's a wakeup call. >> i think that it's a reminder of two things. first, the importance of our critical infrastructure and second, the importance of strengthening our cybersecurity. not just within the oil & gas and energy sectors but really, across our economy. reporter: and it's not just cars airlines have also been affected american airlines says those long-haul flights are going to make an extra stop in an area that does not have a gas shortage. for example, from charlotte to hawaii, stopped on the west coast, from charlotte to london, stopped in boston to refuel, so again, affecting a lot. now trucks are being used 10,000 trucks are being used to bring gas into this affected area and the epa issued waivers so any type of gas can be used in the

affected states back to you. david: let's go to grady trimble because he's at chicago o'hare airport with the latest on what's happening in the air so we heard from edward, grady, that they are making fuel stops on these longer flights. this is very expensive for airlines, right? just as they were beginning to get back on their feet. reporter: yeah, exactly, and i actually just checked with american airlines because they seem to be the airline seeing biggest impact from this , and they tell me that it's still only those two routes that they fly every single day, but they are adding fuel stops on some of those long-haul flights, in areas where there is fuel for the planes to be able to re fuel and then continue on their way, so it's honolulu and london, but even for travelers who are here at o'hare maybe going to places in the south they might have some issues to contend with once they land. rental car prices have already been going up. now gas prices are going up and in some areas, as edward noted,

there are major shortages of gasoline at the pump, in fact, if you look at asheville, north carolina, raleigh, and charlotte , in all of those areas nearly three in four gas station s are completely out of gas, according to gas buddy, and the metro atlanta area, it's about 60% of stations that don't have gas, and edward touched on this , but it's primarily not a gas shortage. it's an issue of tanker trucks. there's not enough drivers to carry the gas to the stations to fill people backup and if you look at the prices, they've been speaking over the last, well you mentioned, david, several months but just since yesterday, across the east coast, prices are up $ 0.07 to $0.08 depending on where you are and edward mentioned getting this pipe back online. they hope to have it at least sub substantially operational by the end of the week but the concern is it takes 15-18 days for the fuel to start

flowing all the way up to new york where that pipeline ends so we could see issues for weeks to come. david? david: could be a cascade of problems, grady thank you very much. well, with the keystone pipeline project closed down by executive order was the first executive order that biden made and the dakota access pipeline now facing a similar fate. is america losing its energy independence? reaction now from republican north dakota senator kevin kramer. well, senator, we are now import ing fuels from canada, as a result of this crisis, the administration says it's temporary just because of the hack of the colonial pipeline, but is there something more going on here and could we be losing our energy independence? >> well, one of the things i'd say for sure is to the question is something else going on here? if this in in fact was a russia tack and it appears it was, whether it's the country or some bad actors, no bad actors do something this big out of russia without vladimir putin's

watchful eye and remember we now import more russian oil than we did prior to the trump adminitration, so energy independence is more than just independence. it's not even just dominance. it's national security. one of the main competitors in the global marketplace for oil is russia, so as we shutdown pipelines, as we shutdown drill ing on federal lands and federal minerals as we make it more regulatory difficult, we really are hurting our own national security as well as our economic security when we hurt our own energy security so i hope we're learning a valuable lesson before it's too late. david: but senator, we're forgetting that this president came on board announcing that he was at war with carbon energy. he wants to eliminate carbon energy from our economy, in 15- 20 years, even if that was possible, i mean, the job relocations and the problems

with our own energy independence are enormous, and i don't think the people in the administration have really thought through how big it is and how quickly our economy would react. it appears that that's what's happening right now. >> i don't think there's any question that's why if there's a silver lining to this whole situation, it is the lesson that we can learn without too much harm, it's going to be plenty of harm because the transportation infrastructure, the value chain it has fuel, somewhere in the middle of it and it's ironic , isn't it, that the workforce shortage that we're experiencing is actually hurting the opportunity to get drivers to drive on this infrastructure, transportation fuel. i mean, it's so cyclical. energy touches everything in the value chain no matter what, as does infrastructure, and that's -- david: it does, but i just wonder how far this president is going to go. we saw him campaigning as a moderate, but right now, aoc thinks he's doing a wonderful job as a progressive, as accepting her vision of green

energy, which of course is something he said he was against during the campaign. he even said he was against shutting down fracking. i think we have a clip that we can play and i'll get your reaction. play the clip. >> i guarantee you, we're going to end fossil fuel. no new fracking. >> there's no question i'm in favor of banning fracking. >> i am not not not banning fracking, period. >> i make it clear, i do not propose banning fracking. >> joe biden will not ban fracking. that is a fact. david: well, as you guys in the dakotas are very dependent on fracking as a source of jobs and to supply the nation with the energy it needs, are you concerned that he's going to go back on that promise as he has on so many others? >> well let's remember that one of his other initial executive orders put a halt on drilling on federal lands and much of the reserves in this country is owned by the federal taxpayer.

that's not only bad for the economy and for energy security and energy dominance. that's bad for the pocket book of the federal government because those are federal resources, but beyond that even, to me the biggest problem is the demands not going away around the world. the difference is instead of the united states growing the demand, saudi arabia is going to fill the demand, venezuela will fill the demand. david: but senator, forgive me i don't think i got a specific answer. will president biden go back in his promise not to interfere with fracking? >> i hope not and i think events like this week will prevent that. i can't speak for him, obviously , i don't speak for him , and but i just hope that it's not too late to change his mind if in fact he's calling shots. david: north dakota senator kevin cramer, thank you for coming in, sir appreciate it well another worrying figure weighing on markets today is that 4.2% spike in the consumer price index. this tends to be a major inflation gauge, and it is

surging to a 12-year high, so where should you put your money in a high inflation environment? joining me now is market watcher s shanna cissel and courtney domingas. courtney first to you, with higher inflation, you don't want to hold on to cash because it loses its value by the day and hyper-inflation by the hour let's hope we don't get there but also you haven't seen interest rates rise so high, partly because of the fact that the fed has been buying so many bonds to try to keep those interest rates down, so where else do you put your money if you don't hold it in cash, you don't buy bonds, you don't have much else except for stocks to buy, do you? >> yeah, and stocks aren't necessarily a bad place to be looking to make sure you are keeping place with inflation. you want to make sure you're having companies that have the pricing power to be able to pass on the inflation to their consumers which therefore is going to benefit you as a shareholder, and it's deceiving here because if you look at the market, like the nasdac is down a lot more than the s&p 500

because your tech companies are especially vulnerable to interest rates rising and that's an example pretty heavily weight ed in tech so people think oh, the whole markets are down while interest rates are rising but it really isn't the case. to your point there are things that will benefit like for example, think of like banks which actually, their net margin interest will increase with interest rates rising, or things like commoditieses will have price increases, so you want to have those things that go up with inflation which is a hedge against inflation, you need to have that in your portfolio right now and stocks are a good place to look for that. david: shanna, in the bottom right of the screen we have new zealand dock nasdac, it's close to 1.68% right now, are there bargains to be had? it looks like it's going to drop below 13,000. are there bargains to be had on the nasdac? >> i think it really depends on what your investment goal is. if you have a long term investment horizon and longer term investor, i do think that there's a lot of opportunity in technology right here.

there's positive long term trends for a lot of technology stocks, we've had very strong earnings, the issue today is not fundamentals of these stocks, these stocks have very strong earnings and very strong guidance. it's simply this inflation risk, this inflation concern, does impact these faster-growing companies more than as courtney pointed out, other areas of the market, like energy, materials, financials, and then if you just look at the components of the core cpi and the core inflation numbers, you look at lodging, you look at car prices, these are all places that would benefit from rising inflation. david: and courtney, one thing we know, not to be to force you into picking stocks here, but we know that the chip manufactures are going to get a lot more business. there's a huge demand in the world for chips right now. is that one place that you be looking because whatever we make, it's going to have chips in it. just about anything we make is going to have chips in it, so would that be one place to go?

>> that is a good example and you're seeing that actually in a lot of different sectors where there's this huge supply and demand constraint right now so anywhere that you're seeing a supply and demand constraint chips is definitely one of those , that very well might get exacerbated as the economy continues to reopen so it is something to be able to take advantage of right now especially if there's good values to be had. david: shana, can i ask you to weigh in on that? would you be looking at chip manufactures? >> oh, absolutely. one of my favorite names is nvi dia, and i continue to believe that anytime nvidia sees a big turn downwards i'm a buyer and also names like marvel technology which is a big benefactor of 5g infrastructure and is a big part of the build-out in 5g. that's another name that is only going to benefit from this imbalance in supply and demand, which as it turns out, is one of the things that causes inflation is that imbalance. david: got to ask you either one of those stocks?

>> we do not. david: okay very good. >> and i do not. david: ladies thank you so much for being here, shana, forgive me for that. courtney thank you very much for being here. well the housing market is still on fire, with people fleeing metro areas for smaller cities. we're going to take you to the city that is named as the hottest housing market in the nation. we'll take you there in a moment >> ♪ ♪ ♪ ♪ you packed a record 1.1 trillion transistors into this chip i invested in invesco qqq a fund that invests in the innovators of the nasdaq 100 like you become an agent of innovation with invesco qqq

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...with comcast lift zones and our internet essentials program. 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 david: fox business is "coast to coast" with a tail of two cities, connell mcshane in an idaho town with the hottest housing market in the country meanwhile charlie gasparino is in new york city talking to a restaurant owner who says the market for finding workers is a little cold right now, to say the very least. first, let's start with connell, he's in courdeline, idaho, right connell: yeah, and the wall street journal, david, ranks markets are out all around the country and this was number one, in terms of housing. the single-hottest emerging housing market in the united states. you look behind me, you see the

lake, it's a pretty area , i could show you some of the homes just so you get a sense and its always been a popular spot to vacation for people. now in terms of living here all year around though, that's been changing. i was talking to a realtor, emily butler, telling me how the market is just absolutely exploded in the past year. prices up 40-50% and things are moving fast, really fast. >> this couple from the seattle area moved here in july of 2020, they bought their home for $750,000. we just listed it last month, so april of 2021 for $895,000. we got multiple offers on it, and it closed at $1.25 million. connell: one of the factors leading to all of this and this is clear in the conversation we've been having with people moved here recently is politics. a heavy covid restrictions in washington state, and certainly in california, and that's been driving people here to idaho even moreso, it seems lower

taxes or lower standard of living and saving money, ryan and sarah macdonald are a perfect example of that mindset. they said they wanted small town values for their daughter. they made the move last june, ryan is in the mortgage business and he works from home here and he had good insight on the market itself, and believe it or not, the downside of a boom like this. take a listen. >> its been absolutely insane. you'd think as a homeowner with our property value here in just a year going up almost 100%, that we would just be laughing all the way to the bank, but i also, at the same time, 12-13 hours a day i have to deal with poor clients who are getting out bid on these homes and are finding it harder and harder to afford to be homeowners. reporter: that's kind of the final piece of the puzzle here, affordable housing. it's tough to come by. the concern is mounting, you know, david. you have to have people come in to be teachers in the schools and they're having trouble affording it here, but again one of the reasons, and it's really the driving reason from the people we've been talking to the people are coming here in

the first place are the politics of the states that they are leaving. these high tax states, washington state and california also more restricted when it comes to covid. they are moving to idaho. david: less taxes and a beautiful environment. god it looks gorgeous behind you there. i can understand why people want to move there. thank you, connell. well let's go to charlie gasparino in new york city where the opposite seems to be happening he's talking to a restaurant owner who survived the pandemic, thank god, and is now fighting to survive another crisis, a jobs crisis. charlie? i hope you're getting a free lunch out of this , by the way. charlie: [laughter] no, we always pay. david: good. they need it. charlie: yeah, okay, we're at the great sistina restaurant in new york city, and i want a little background on you gerardo you're going to kill me. if you know the brothers they are incredibly rivals. >> competitors. charlie: but gerardo your brother, you came here from italy with nothing.

>> uh-huh. charlie: bus boys, waiters, dishwashers and you created three of the great italian restaurants in the city, and you serve the wall street elite so a little background. this is an american success story. you survived the pandemic. it wasn't easy. describe what it was like to basically be opened and closed and opened and closed. >> well, when we got shutdown, they told us three days before that we we gordon changing to be shutdown, so i didn't believe it at first. i thought it was a joke. i didn't think that the pandemic was so bad, so we got shutdown, and after a couple of weeks i was hoping that they would reopen us, reopen the business soon, but it didn't happen for five months. we threw away a lot of merchandise, a lot of inventor ies. i started to get really scared. charlie: did you think you were going to go out of business?

>> i'm an optimistic person. i thought that, i didn't know how long we were going to last. i'm an optimistic person i thought this was going to end soon, but it lasts what it lasts and as it went along i said to myself, i have to stay optimistic, otherwise, a couple times i thought i wanted to sell my inventory of wine, i wanted to get out, because i didn't see , i saw people dying every day. charlie: what's 25%, 50%, it was so closed down totally. like done at a whim, and it's like almost as if the government had no idea that people like you were hanging on by their finger tips employing people. >> right. well, you know, we got shutdown, and then we reopened 25% and i said there's no way we're going to make it with 25% because along the way, when we reopen i was paying all my staff. i didn't lay off anyone. and then we got it from the government but that didn't take us too far because on the

operating side in this kind of -- charlie: it's very expensive. >> very expensive. charlie: i don't think government realizes that. fast forward to today. you have the opposite problem. you are competing, essentially with joe biden and the federal government whose essentially paying people to stay-at-home and that's why it's hard to hire people. tell me how hard it is to get experienced staff here. >> well, the state of new york allows us to open a few weeks ago 75%, so the people came back to new york because a lot of them got vaccinated and they wanted to go out so we got to be extremely busy. we were more busy than we can handle, but we don't have people to work, because nobody is going back to work, and they don't want to go back to work. we called everybody to come back but they don't want to because they are making more money staying home. so i think it's a big problem. charlie: you're telling them to come back, we got jobs but they are saying we make more money on government doles? >> they don't want to do it.

it's the governor of new york allows us to open then they should allow also people to go back to work, because we open, but we don't have the people. what good is it? and then what i think the president, i'm not in any means offending the president of the united states, but the president should take every state and every city of the united states separately, because in new york city, it's based on restaurants, entertainment, delivery people, and the governor should update the president and tell him look, in new york city, we need people to go back back to work. charlie: don't pay them to stay-at-home. >> and also the people who we are calling to come back to work and they don't want to. i think the governor should tell the president, look, mr. president, in new york city we are facing a different problem, so please, allow these people to go back to work, because not only what's happening is that also the people that they are working today, they want to make more

money because they are working more hours, and they are working extra, so our budget is going wacko because they want to get paid more and i don't blame them because it's working double but the problem is we cannot afford to pay 25-$26 an hour. charlie: do you but what biden is doing is like a stealth or a secret minimum wage increase on people like you who are already paying high wages, not high but not bad wages. >> well i don't know. i can not read his mind about what he's doing but my interpretation is he will never be able to pass a minimum wage hike or the congress, in the senate, so what he's doing is creating a shortage in our industry, so that people get paid more. that's my only thing. charlie: by having the government. >> yes, yes, so helping the government, so the minimum wage will be higher, automatically because we don't have anybody to work, so we urge , please, the governor, talk to the president and let our

industry, the restaurant business, not be part of the rest, because we are really struggling. we cannot handle the business, we're losing business because we don't have people. the quality of fine dining is going down, because we cannot train anyone. we cannot improvise overnight. charlie: just so you know we have to leave it here because i'm getting the wrap, they don't care about small businesses i believe in washington. >> i think that's a great question. i think small business like this they are going to get hurt. we're going to lose our business like that because more business is the engine of the economy. i'm not going to be able to pay anyone. i can not pay my expense like this , even though we're busy. charlie: we'll be back in a couple hours on claman show, maybe we can convince your brother gerardo, to come on air, thank you, and good luck. >> well thank you very much. thanks for having me. charlie: back to you, david. david: it's a tragedy. his story is the american dream, right? coming here from another country

, and building it up and we're killing the american dream with these policies. it's terrible. it's terrible. all right, charlie, thank you very much. thank the chef for us. coming up next, fox business' own larry kudlow, joining me on how the white house is handling crisis from inflation to open jobs to violence in the mid east to an open border. that's next. >> ♪ ♪ ♪ ♪ there's interest you accrue, and interests you pursue. plans for the long term, and plans for a long weekend. assets you allocate, and ones you hold tight. at thrivent, we believe money is a tool, not a goal. and with the right guidance, you can get the financial clarity you need, and live a life rich in meaning, and gratitude.

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jonathan serrie, he's in sandy springs, georgia, how does it look there, jonathan? >> very busy but at least this station still has gas. you can see the cars snaking around the parking lot here at this costco, but they are experiencing long lines and in many cases, gas outages throughout the southeast. take a look at this aerial shot of cars lined up at a gas station in raleigh, north carolina. governors throughout the southeast have been urging people against this type of panic-buying saying this is a problem with distribution, not supply. >> it is frustrating that people are panic-buying. we tried to ask people to use good common sense, get what they need, but not more than they need and that's fallen on deaf ears for some. >> when you look at our supply and what we have, you know, domestically and what we have in the reserves that we have, we really shouldn't be having this problem. >> nevertheless, the increased demand is driving up the cost of

fuel now in excess of $3 a gallon for regular. this time last year, it was $ 1.85, david? david: very much. well, this has been a remarkable five days of bad developments for the biden administration. the april jobs numbers were the first in friday, first of a series of blows really against the biden administration. it was stretched from israel, which is having terrible problems right now to the mexican border, up the east coast, via the colonial pipeline , and today's inflation numbers, and our next guest is warning that this is just the beginning. joining me now is fox business' kudlow host, larry kudlow himself, so larry, you think of we were all saying how lucky joe biden was because law enforcement was coming in just at the end of the pandemic, the lockdowns were going to be over, the vaccines were becoming readily available. >> the trump vaccine. david: and the trump operation. by the trump tax cuts. david: look at how quickly

we've got so much bad news, both on the economic front and the foreign front. what's going to happen? >> well, you got a lot of moving parts here. one thing i want to emphasize, regarding this colonial pipeline story, these are russian hackers , make no mistake about it. these are russian hackers, and i don't know how this story is going to end because colonial is an old style company and they're not saying much, but remember, they've got, whatever the right word is, they've got to de-en crypt this thing and the key to that is with the out laws, the cyber hackers, they are either going to pay a ransom or they're not. pushing trucks, you know, over sized trucks on highways to get gas supplies to the east coast is not going to be the answer. david: by the way the administration is not telling us whether they pay ransom. they said we're leaving it up to the private company it's their decision. >> well it's actually a colonial decision, it's the

company's decision, so i don't know that, and i also want to tie that briefly, david, to what's going on in the middle east, because iran has no money, but russia has lots of money. russia is backing iran to push hamas into this holy war again, restart the holy war against israel. they are testing biden, mind you you know, you've got these people, bad judgment, john kerry , for example. he's to me the worst one of all. he wants to do a deal with iran, huh? a deal with iran, are you kidding me, after all that's been done? it looks like they're getting rid of -- david: by the way john kerry is the one who said we will never get an abraham accord and we had several of them. >> whatever he says regarding foreign policy and also climate policy, he's always wrong. he has a perfect track record of being always wrong. now, i'm just saying, you've got russian-backed cyber hackers.

you've got russian-backed terrorists client states, testing biden, in two places right now. in israel, and along east coast, and i do not think the biden administration is up to the task they are not backing israel and they don't have any security solutions with respect to what's happening with colonial. david: what connects all of them -- >> they're completely unprepared. david: what connects all is we're going back to leading from behind because during the trump adminitration, which you were a part of, president trump made a point of leading the country and leading the world and getting energy independence so we wouldn't be relying on other countries. right now, in order to get out of this crisis, the current crisis with gas, we're importing fuels again. >> from russia. david: from russia. >> that's the irony of it all. david: it's extraordinary. >> friends of mine who were heavy into this business say if colonial can't get it done by friday, all holy hell is going

to break loose. now from your report just now, it looks like it's coming on even faster, but the point is the whole electric grid can suffer and that means you're going to close down, you know, hospitals and schools and commercial buildings and governments and every other darn thing, so this becomes extremely serious, and i don't know what colonial's move is going to be. i frankly think this stuff is more important than the inflation stuff, but i will conceive, i mean, i'm not sold yet on a massive 70-style inflation, because the dollar, my king dollar has not yet collapsed at all, and i think that's good, but i will say, the inflation numbers today were pretty wild and much worse than anybody thought possible. david: so you have a lot of no 's with this , you have no gas right now, that might change, but it might not. you have no borders, that's clear, no matter what the administration says it looks like the border situation is down. you have no air, because we have

the mass, no matter what happens with the mandate. and now, we have no meat. you know, you were chastised last week for claiming this administration was anti- meat. now we have a national geographic article that just came out shocking study, claiming that meat production leads to thousands of air quality-related deaths every year, of course this plays right into the hands of the radical squad that wants to ban meat. >> brussel sprouts on the barb e. that's what we're looking for. david: but you're redeemed they are going to use this study. this administration. all i did, i never said biden's plan said no meat. i just cited a university of michigan study, i mean, they're crazy as a loon, for these people coming out. but that study said no meat, no poultry, no fish. okay? because of the flatulence and i don't want to go there because this is a family show but the point is my buddy, my brother, steve moore, wrote a

beautiful wall street journal op-ed rebutting those critics, you just said it, you're my long time buddy. look, i was just quoting this study. okay? but this study is just as nutty as all of the rest of the climate stuff running around david: this is something that american people could get their hands around. you talk about the other stuff, the academic stuff, and it's beyond a lot of people to have attention span with, but this is easy. i don't want to be without my meat and my meat is not killing anybody. >> i actually don't eat much meat but poultry and fish, now that really god my dander up. poultry, i will defend chickens to the very end. [laughter] david: believe me, folks you don't want to do it. he looks nice and smiley but when you get his dander up it is murder. larry kudlow we'll see you at 4:00 p.m. here on fox business always look forward to seeing you. well smugglers getting the opportunity to sneak people across the border because agents are tied up doing something else at the border. a live report from the border,

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>> welcome back to "coast to coast", i'm live on the ground here in del rio texas where for the fifth day in a row we witnessed a group of migrants crossing behind us and walking right here into the united states. we'll show you that video right now, we shot this just about an hour or two ago. this was once again a group walking across the rio texas when it was shallow and just walking into the united states where border patrol was waiting for them. now today we did not see those smugglers or though coyotes with them and there might have been a reason for that and we'll show you why. take a look at this video this is the first time we've seen this. mexican marines have started posting up on the other shore line, on the mexican side and patrolling the area on and off. we hadn't seen this before, sometimes they show up after the fact but they were there earlier today and as we talk

about migrants coming across, there's another aspect to this story. take a look at this wild video out of demmet county in the rio texas valley, sending us this video as he was pursuing a human smuggler who had migrants in the vehicle with him. you're going to see the doors open up and those migrants bail out of the vehicle or are thrown out of the vehicle by the human smuggler, law enforcement telling us they never want to be caught. we had a chance to talk with the regional director for dps in south texas and here is what he had to say. >> we're using all our resources, we're using our tactical assets, aircraft boats, boots on the ground. we're trying to always find that balance. reporter: and those chases can be deadly and they have been before. here, in rio texas, talked to the local sheriff out here and he says there was a recent crash where a smuggler had eight mexican nationals in the back of his pick-up truck, driving them, dps started pursuing them and there ended up being a crash

unfortunately, the eight mexican s who were in that pick-up truck, they all passed away. the smuggler survived and he's now in jail so that shows just a highlight of how dangerous this situation has gotten and it just continues to get worse. new numbers from cbp showing that april 2021 was the highest migrant encounter numbers in the last 20 years. we'll send it back to you. daniel extraordinary stories, bill, thank you very much, bill. good tough. david: well the u.n. is warning of a "full scale war" amid israeli gaza violence. we have a live report from our correspondent in israel straight ahead. they said it couldn't be done but you managed to pack a record 1.1 trillion transistors into this chip whoo! yeah! oh, hi i invested in invesco qqq a fund that invests in the innovators of the nasdaq 100

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david: deadly rocket attacks leaving dozens dead as israel and hamas escalate their air strikes against each other, a u.n. envoy warning of a "full scale war" as the death toll rises. trey ingst is live with the very latest. hi. reporter: david, good afternoon. right now, we are still seeing rocket fire towards the israeli city of ashkalan a few minutes ago more incoming rounds. we're here at the site of a rocket attack just last hour, we

were on fox business as a barrage came in towards this city. this is where one of the rockets hit and you could see the scene it really just shows you how much damage a single rocket can do. right now, hamas, the group in control of gaza, is threatening more rocket fire, towards southern israel, as islamic jihad, the second largest faction there, says just 10 minutes from now, they will fire a new barrage. this , after at least 10 of their top commanders, were killed today in zillow rate it air strikes and the israeli air force also targeting a number of high rise buildings in gaza a new red line for factions there who said they would respond with more rocket fire as they did last night. if these buildings were targeted , there are a number of injuries from that last barrage that caused this damage that we're seeing right here, and additionally we do know earlier today an israeli soldier, was killed when an islamic jihad unit came next to the border and fired an anti-tank missile at a jeep of soldiers. we were at the hospital right after that happened as the soldiers were being

treated and we spoke with a doctor there, who explained that hamas and islamic jihad are increasing their abilities to launch these types of attacks not only with rocket fire from the air but also these anti-tank attacks from the ground. this night has a lot of rocket fire and violence in store, both sides saying they are not stepping back from the brink of fighting and we do know that israeli prime minister benjamin netanyahu believes this could go on for days neither side interested in a cease fire. david? david: thank you for your roaring, my friend, appreciate it. well david ruben the former mayor of shilo israel and author "trump and the jews" what is behind all this violence, mayor. >> oh, it's very simple. jerusalem day was yesterday, and the build up to jerusalem day saw riots all over jerusalem, and it's all in the arab areas,

rioting, attacking civilians in the streets, riots on the temple mount, the most holy place in judaism and all of this was building up to jerusalem day, when israel celebrates the re unification of its eternal capitol, and it was the 54th anniversary of that re unification, there was dancing in the streets and my 18-year-old son was out with his class. they were dancing in the streets , there was music. it's a joyous day but obviously, the palestinians don't agree and the arab israelis don't agree either because there have been riots in virtually every city in israel torching synagogues, torching dozens of cars, just in the city which is right next to our international airport, so

the goal is the destruction. david: mayor, we're up against a hard break, i just got to ask, do you have any idea when this violence is going to end? you only have 10 seconds go ahead. >> huh, the violence will end when israel launches disproportion at attacks on gaza david: very interesting. well you did it in 10 seconds. we hope there is a limited amount of loss of life as possible, mayor ruben, great to see you, sir, thank you very much sorry we had such short time constraints on us. the nasdac, meanwhile, taking another beating again today, down more than 2%, with the tech and consumer discretionary sectors leading the downfall. more right after this.

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david: well thank you for watching. as i toss to my friend charles payne you have to take a look at the nasdaq, down enormously, over 300 points down on the nasdaq. charles, i leave it to you. charles: yeah. we got a lot of work to do here, david. thank you very much. good afternoon, folks, i'm charles payne. this is "making money." breaking now, the market there are few places to hide. stocks are getting cheaper because everything in our daily lives is getting more expensive. consumer prices are going through the roof, in fact into the stratosphere. investors are saying maybe the federal reserve has lost control. should you follow the herd and head for the hills or take