great way to play, strong balance sheet that have gone up a lot but if oil goes higher it's a great way to play. jack: certainly a classic recovery play, thanks a lot for that. jack keep an eye on bitcoin. to read more checkout bearings.com, don't forget to >> from the fox studio in new york city, this is "maria bartiromo wall street". maria: happy weekend to all welcome to the program analyzes the week that was in position you for the week ahead, i am maria bartiromo america getting back to work but slowly fewer jobs added in the month of may, how much in the factor are those extra unemployment payments having on the slow growth environment were taking behind the numbers this weekend and a look at the impact on the economy in the market.

plus elon musk movie bitcoin again the crypto currency dropping after this tweet suggested a breakup on the heels of a big selloff last month billionaire investor author of rich dad poor dad robert is here, he says the crash and bitcoin is good news, he's here to tell us why. cyber attacks targeting transportation system and our food supply with massive breaches across the country i will speak with cyber security and antiterrorism expert morgan right on how we combat the growing threat. let's take a look back at the top makers on "mornings with maria" in this edition of the week stalkers. it's ridiculous to me too see the media saying new revelations, probably from the beginning, it it was always a feasible theory that this is where covid-19 emerged from originally. >> president biden says on

friday that xi jinping firmly believes he's going to own america within 15 years. >> a year ago china can eyes the summer in a different thing about it, i'm for one not ready to give up this fight. maria: biden is bullying senator cinema and mansion. >> what he does not have support is which list items that want to increase taxes higher than that of communist china. that is why he's having issues with no mansion in christensen amount. maria: 560,000 jobs were added to the economy to the month of may less than expected but the unemployment rate did fall to 5.8% in march and april numbers were revised higher, joining me not to talk about the job numbers and the impact of the economy markets president and

j.p. morgan chase chief economist anthony chan, great to see both, thank you so much for joining us, let me kick it off with you stephanie in terms of the impact of the economy what does this month job number tell you? >> i've had this thesis pretty much since the whole pandemic started and we started unleashing stimulus after stimulus of monetary and fiscal that the stimulus was really attacks i think this morning payroll and employment report illustrates one of the ways in which that is true, that is basically paying people to stay home, we now have a situation where private employers have to compete to the government to get labor and are really struggling to do so. we have seen that the labor force actually participation declined in the amid a strong headline jobs number and there was a contraction in the total

labor force, this is going to be an issue that hopefully next month will start to unwind as half of the state in the country do away with the dog mention unemployment benefits that have been restraining return to the labor force in putting real pressure on businesses as they struggle to pay high enough wages to get people off the sofa. maria: its true policy has a lot to do with these numbers people getting $300 and extended an appointment and $300 in child care, no wonder we're not seeing an economy grow in job creation growth at the pace that one would expect, what do you think this number tells us what about 5.8% on appointment read at this point. >> the 5.8% number is real because you had employment

growth in the household survey 444,000, stephanie is spot on that the labor force dropped but only by 53000 and stephanie is also correct that they enhance unappointed benefit that that is hurting our overall economy you may have wanted that in the beginning when you wanted to keep people at home and away from the workplace they can catch a virus now that were getting vaccinated in the infection rate is coming down that is what you don't want, close to half of the states eliminated $300 enhance benefit program and by the way the program will end in september. these are bad things are happening to the economy but those are going to phase out over the next couple months another factor some people that are not vaccinated and fearful that they can catch a virus they're not so excited about going to work there is antidotal

evidence when they're asked to go back to work that they are simply quitting their jobs, all of those things go away when the programs disappear or programs phased out. i look for the label market to continue to improve in all this talk about a shortage in the labor market is artificial than those factors that you pointed out and more holding that back but that will disappear in the next couple of months. maria: we will see the democrats would like to see the unappointed benefits certainly the child care credit become permanent, what else strikes you about the jobs report out friday morning where right after the numbers came out we saw a good rally in the stock market was this about the federal reserve and when the fed talks about tapering i will tell you there are a lot of expectations that this year the fed will start

talking about tapering and moving on interest rates in 2022, how do you see it. >> clearly that is how the market is interpreting the weaker than expected appointment rate we've got not just the stock market up but the dollar down and gold up $18, little bit clear reading that this forestalls any talk about tapering by the fed, ultimately as you are well aware in our metering conversations, my sense if the fed even talks about tapering or actually doesn't much less, we would see a massive correction in the market, it would just be a repeat of what we saw on the fourth quarter of 2018 when they thought they could unwind their

balance sheet and it would be like watching paint dry. in the intervening period obviously the total debt that we are toting on this economy has expanded substantially and especially on the corporate sector, the idea that the fed can back away and allowed interest rates to rise in any manner at all is completely laughable but it won't be funny if they're crazy enough to do it it's going to be a real struggle for the stock market at the evaluation which brings me back to the employment rate in terms of what it means for corporate profit which is what supporting the stock market we have 43% s&p earnings and another 13% on top of that next year. i don't know what fantasyland these companies are operating in with the average company is

really struggling in terms of labor and pain to attractively work with at the same time interest costs are arising that they not before witness. the price of business is going up dramatically and is not clear that they can pass the price increases to the consumer were talking about potential pressure which is stock market made 0 allowance four. maria: your expecting a selloff this year. >> of the fed talks about tapering on the timetable that you mention there is some forecasters thinking they will talk about it by late summer and start telegraphing moves in the early part of next year. if that comes to for wishing it'll be a real problem for the

stock market. maria: anthony are you on the other side? do you think that we will see growth in markets continued to pick up this year? >> maria i came on your show early in the year looking for double-digit rate i know everybody thought i was crazy but it's on the back of the 30 plus two consensus expectation for earnings but stephanie is right, next year the consensus numbers come down to 10% on the year over year basis and price-earnings ratio when you look at forward earnings above 20 and the average is 16 you will see air coming out of the bubble next year, stephanie is right that companies are having trouble gaining workers but profit margins are holding up so far. maria: we will leave it there, great to see you both, thank you so much have a great rest of your weekend. thank you so much that coin

moving this week elon musk tweet that put the currency dropping further after elon musk hosted a broken heart bitcoin down more than 3% of the record hi, robert says that is good news to him says that is good news to him and the aut ♪ ♪i've got the brains you've got the looks♪ ♪let's make lots of money♪ ♪you've got the brawn♪ ♪i've got the brains♪ ♪let's make lots of♪ ♪uh uh uh♪ ♪oohhh there's a lot of opportunities♪ with allstate, drivers who switched saved over $700. saving is easy when you're in good hands. allstate click or call to switch today. advil dual action fights pain 2 ways. it's the first and only fda approved combination of advil plus acetaminophen. advil targets pain. acetaminophen blocks it. advil dual action. fast pain relief that lasts 8 hours.

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wealth helps you retire. worth is knowing why. ♪ ♪ principal. for all it's worth. maria: welcome back, bitcoin battered by elon musk tweet once again suggesting he's breaking up with a crypto currency bitcoin was down better than 40% from the record high set in mid april, joining me too talk more about that the author of rich dad poor dad in bitcoin investor robert kiyosaki is good to see if they give for joining us. you're happy that the crypto currency went down, you own it. >> that is correct because at 27, and back in again.

i'm waiting it to go back down to 27, i started buying at nine so i'm in the money yet. maria: we've been talking about stimulus his entire program earlier we heard from anthony chan and stephanie in terms of the free money that government has thrown at this economy as a reason that the jobs numbers were a bit weaker than expected, you're looking at stimulus from the federal reserve keeping interest rates at 0 euros a reason to own bitcoin, walk us through that. >> let me make it really simple how do you spells and ballboy, this is $10 million and ballboy and is this going to be $10 million u.s. and the reason i bought silver since 1964, this is a star value and this is a gold eagle of the star value, bitcoin has a chance of holding its value so the more the fed

prints this and the treasury the more i like bitcoin. it is much bigger than elon musk, he's one little guy in the world of u.s. dollars. maria: i understand that, why do you want to own bitcoin as the fed prints money. >> one reason what i advise people to do is start small, i only put a couple of million to start but my interest was up like i said i started to get interest around 20000 in a drop to three so bitcoin had disappeared, it hit six and the nine and then i picked it up at nine. so my interest peaked and what i'm interested in the subject like a stock, and more intelligent so i own bitcoin and diphtheria primarily from education, i start small and

track as it goes up and down and you listen to such garbage news like elon musk he is not the universe he's not the global macro of this fake 10 million zimbabwe dollars, this is what people are chasing, fake money it is ridiculous. maria: you think bitcoin can go $200,000. >> and a good day i suggest people read this as the creature from jekyll island, it explains how the fed and the u.s. treasury were fundamentally created in 1913, what bitcoin and biden are doing, not bitcoin but what biden is doing is violating the law and aggression law states that money enters the equation, this is bad money, this money gold, silver and bitcoin go to hiding the more that they violate the law, when

bad money enters the equation good money goes into hiding i'm a buyer a bitcoin and the more that they. , the happier i get with bitcoin. maria: it could be that we see higher regulation around this as well, perhaps putting more barriers but were going to keep following this and we hope that you will come back soon to walk us through what is going on at the crypto currency market, great to see you this weekend, thank you. robert kiyosaki joining us as we can. we will see you soon, new threats on the horizon for corporate america as hackers hit target across the country and sectors cyber security and terrorism expert morgan wright will what makes new salonpas arthritis gel so good for arthritis pain? salonpas contains the most prescribed topical pain relief ingredient. it's clinically proven, reduces inflammation

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maria: welcome back cyber criminals upping the ante, targeting critical components of the u.s. supply chain, new report to speak on a taxonomy processing gbs the massachusetts area system in new york's mta last month colonial pipeline paid for and have million dollar ransom after a cyber attack shut down the fuel supply to the east coast i spoke with cyber security expert morgan wright to get his take an rancid where. >> this is been going on for a long time, about a year ago i said we had a global pandemic with covid and this is rising to a digital pandemic with ransomware and it's going be on targeting underfunded like under resourced schools, small companies, we are targeting things that only nationstates could target like her critical infrastructure in the colonial pipeline in the power grid that happened in ukraine and now meet supply, food is one thing you need to have a stable society

and when you attack things like that you start taking the place of the nation-state and the problem is very difficult to invade a criminal group but these are operating in countries that are adversary to the united states for example russia. maria: china american companies pay the ransom to get the infra- structure back online? >> personally we say no the research that we shown you become a bigger target the minute you pay ransomware you get targeted again, the best thing to do we have to take a lesson from elon musk he said why can't we reuse rockets, my point why are we responding and stopping them in their tracks, the technology is available and we do it all the time other committees do it all the time we stop these even with novel exploits 0 day which is been used in the new york mta it is possible takes mindset we have too many publicly traded companies that are more worried

in their business plan is a collection of 90 day strategies as opposed to where do we need to invest cyber security is a cost center not a way to enable profit until we change thinking and invest more the budget needs to have more money for folks like the cybersecurity infrastructure agency part of dhs ransom more funding on technology and identify the actors but at the end of the day the bad actors are operating that we have no treaty with an 0 chance between china, russia iran to get them into a u.s. courtroom. maria: i think this is so important that you mention this we find yourself in a situation where the hackers are coming from russia and the russian government is trying to make it appear that they have nothing to do with her. if you have hackers in russia shutting down the meat processor across the u.s. shutting down

oil pipeline is it even possible that the russian government is not aware of what is going on in the country in terms of the hackers. >> in your previous segment you are talking about bladder mere and he's a richest guy you don't get that wealth without knowing what's going on in your country there allowing us to go on the enemy on my enemy is my friend this is like the one that did the latest hack the one before that was dark side but the ransomware gangs operate out of countries we got yemen to kick osama bin laden out because he was the main actor we did the same thing to pakistan we had to hold countries for the bad actors inside those countries and internet research agency that russian agency that was in the middle the 2016 election they operated out of russia russia has become an epicenter for this aggressive action in cyberspace and if we don't hold the country responsible we have

0 chance of holding the gangs responsible. maria: do you expect this to come up between the one-on-one with president biden of waterview putin. >> a better read recent articles looking at the things that are supposed to be done vladimir putin being the game player he is i expect to see an arrest to say were doing something about that before the summit but they will continue to operate because will continue to operate because were not doing anything to it's not some magical number. and it's not something we just achieve at the end. it's a feeling... of freedom to live our lives the way we intended. though the ups... ...the downs ...all of it. this is financial security. and lincoln financial solutions

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molly hemingway as well as missouri congressman jason smith and we will talk about the tax-and-spend program he is on the budget committee plus start smart on fox business 6 - 9:00 a.m. eastern with "mornings with maria" i hope you spend your day with us every weekday on fox business. that will do it for us for tinin larry: hello welcome back to "kudlow" i am larry kudlow on the infrastructure story. i want to talk about infrastructure and i want to talk about 50 one-vote reconciliation i have a couple of additional thoughts, please stay with me, still very important, let me begin with this, i don't believe there is any chance of a significant or meaningful hard infrastructure deal between the biden white house and the senate gop, when i