think it is about 261, 262. way up today. approaching those highs. here's why big tech is doing so well. the yield on the 10-year treasury, despite inflation news today all the way down to 1.48%. tech investors just love lower interest rates. it is good for big tech stocks. that is what is happening right now. time is up for me. neil, it is yours. neil: thank you very much, stuart. the markets seem to be quite okay with higher prices and more inflationary concerns. i've been seeing that spelled out over the show here. we'll get into the details of all of that but the markets are not worried. we think we know why. we'll get into that. we're also going to get the read on how so many employers are trying to fill jobs right now and pay them much higher wages to accommodate that, to push young people with temptations of

20, $25 an hour jobs. sometimes they don't get any replace. we're on top of that with grady trimble in chicago. how kroger is hoping to woo thousands of potential workers. grady? reporter: neil, kroger is holding this massive nationwide hiring event right now at its main stores as well as harris peter, ralph's, all the stores it owns. in fact they're conducting interviews in stores as well as online with the goal ever hiring some 10,000 workers. they're high lating the reasons people should work for them amid this labor shortage. they point out their national average wage is 15.50 per hour. they're investing $350 million to bump that up to 16 bucks an hour. they have other benefits like tuition reimbursement. they are hardly the only national chain hiring right now. walmart is looking to add workers in distribution centers, in stores across the country. amazon as well looking to hire

some 75,000 employees. one of the things amazon is doing is offering 1,000-dollar signing bonuses to some of those perspective employees if they do agree to sign on. despite all of the great lengths that these companies are going to, to woo workers, labor secretary marty walsh says the enhanced unemployment benefits are not a contributing factor to the labor shortage. >> i don't believe $300 is keeping entire 8 million people out of the workforce. i don't think we're paying people not to work. we're trying to support peoples livelihood during the pandemic. reporter: kroger, walmart, they are a few of the companies hiring right now. in fact, neil, across the country there are more than nine million open jobs. as we mentioned employers are having to pay up big to try to get workers back into the workforce. we will see if those efforts pay

off. neil: all right, grady, thank you very, very much. ed rensi on this, former mcdonald usa ceo. so much to get into with you including how employers are doing anything and everything they can, sharply higher wage just to get workers. they are having a devil of a time. what do you make of that. >> it is a very serious situation. i don't know what the secretary is talking about. i talk to job applicants constantly, they say why do i want to come back to work i'm making as much money before, i don't worry about day care. my kids are at home. i am doing homeschooling. the whole government leadership corrupted the labor market in ways they don't understand. kroger talks about 15, $16 average wage, some people in some localities are significantly below and some significantly above. i tell you what is going to

happen, it is happening right now. innovation and automation will start replacing people at a level we've never seen before. personal service is going to decline in a lot of industries. i look at mcdonald's right now testing artificial intelligence, voice recognition in the drive-throughs so people come in, place the order, talk to a teenager that is really buried in a computer, place their order. it is wrong about 15, 20% of the time. but mcdonald's is a well-managed company. they will figure it out. they will get it right, make it work. because they just can't afford at the franchise level, franchisees can't afford to pay 15, 20, an hour where a big mac will cost more than a car. its absurd what our federal, state, local governments are doing with this wage business. neil: to your point, i talked yesterday with a guy that runs sergio's restaurant chain, largely in florida.

serves cuban food. i'm sure you're familiar with it. what he was telling us that he is relying more on these robots that come deliver your food. it has been very efficient for them. helps out the waiters and waitresses with their job. but they're almost taking over the place. he said he had no choice to do that. he wasn't saying eyeing something that would hurt talent, those that with would hurt at restaurants but he needed some sort of a backup plan and he has got it now. what do you make of that? >> it isn't just restaurants. every small business dependent upon personal service needs bodies to serve the consumer. robots serving food service, food runners like you're talking about, take up an awful lot of space and they have no love for the customer. the restaurant business isn't about just eating. it is about hospitality, going where everybody knows your name. it is bartender you talk to once a week, ask about how the kids are.

it is a local business where you're a neighbor and a friend and robots, automation, things like that just aren't going to cut it. we're going to see, my prediction is, we're going to see a significant change in the way people hire hourly labor. there is a company in chicago that i think has an employment platform that's stagger in its implications. it is all about branded employees work in certain brand, go online auction for jobs, managers bid the position, the employee can take it or leave it. they can work in multiple restaurants. most importantly, when they finish their shift, they get paid on a credit card debit card kind of a system. it is 50% to 100% of the pay immediately. when you need cash fast, you're motivated. neil: you know i do wonder where all of it is going, ed. when i dine out, i'm always surprised by, hey is this the

same menu i was looking at last year? prices have gone up markedly. a lot of times in the case, you see chipotle announcing it will raise prices, menu prices pretty much across the board about 4%, that's one thing to deal with the extra people it is bringing on, 20,000 for this busy summer season but it is quite another when the price of, you know, a chicken dinner doubled effectively or pork dinner, a host of others. i wonder what the threshold is at which customers then say, no, this is crazy? >> every tier of the economy on wage earners and expenses, for everyone% increase in price you lose about 1% of your transaction counts. we're looking at significant food cost increases. a case of chicken was 40 bucks. now it is $130 a case. prices are going up at about a

percent 1/2 to 2% a month. pretty soon we will outrun the family budget. you will see dumbing down of food in recipes in lower end restaurants. what all can you do to eggs, bacon and ham in a breakfast restaurant? you don't have he many places to go. higher end restaurants can make adjustments. they can alter recipes. you will see a dumbing down of everybody's menu to stay ahead of this inflation. i think the bubble will break sometime around january, tech of if not sooner this year because we just can't absorb the price increases at the wholesale level or at the retail level. this employment thing, one of the differentiations when you have great food, great service you have a great combination. you can have great food and bad service, that's bad. you can have really great service and okay food, that is good. it is not a static environment. it is really dependent upon the

consumer, their desire, their wishes, employees. it has to all work together and the government's getting in the way of that relationship and it's terrible. neil: ed rensi, mcdonald's usa former ceo. very good seeing you again, ed. i appreciate your perspective on this. we need to hear that. luke lloyd investment partners strategist, our own carley shimkus our own fox news 24/7 reporter. guys, we get the news on the same day that we're hearing consumer prices jumped on a year-over-year basis the most they ever have since the summer of 2008 when george bush, jr., was president. the core rate jumping the most since bill clinton was president. something is going on here, luke, what is it? >> how long will we use the word transitory before we admit the impact of inflation is not

transitory. the effects of the pandemic and labor shortage will be felt for years. right now consumers feel it in the pockets because of simple supply and demand. we opened up, demand is crazy. people are on a spending spree. at the same time businesses cannot hire enough people. what does that mean? businesses will have to pay higher wages. what do higher wages mean? businesses will pass the cost on to consumers and charge higher prices. that is why i don't think inflation is temporary at all. the good news, those who own stocks, real assets will be able to weather the storm just fine. the bad news, those that don't own stocks and real assets will get burned most. we don't need higher spending, higher taxes, we need to get jobs filled as quickly as possible. neil: carley, this might be a more personal question for you, you have a good feel about real world issues, and i'm wondering for young people like yourself, when you go out and you see these higher prices, and you hear a lot of restaurants say

well this is, you know, to deal with the post-pandemic realities, to pay for our health and all of that, to adjust for these ruing costs how do you friends feel about that? >> i think right now we're seeing only the beginning of it and there will be a cap in prices where people say, make a decision, it is just not worth it anymore, in particular air fare. air fare i noticed is through the roof. these numbers are absolutely not good for the biden administration. his economic policies are going to continually be hammered by republicans. the reason though, neil, prices are up right now, are really twofold. one because of the pandemic. some materials are in short supply. i was just talking to somebody who works in a certain industry and they're greatly affected by. what happens? prices go up. the other is exactly what we've been talking about all along, the stimulus checks.

the federal government is pumping so much money into the economy that what happens when there is a lot of money in the system? the price of the dollar goes down. so i think that less fiscal stimulus needs to happen. more incentive to get back to, work or this inflation could really become a permanent thing. neil: what is driving it, luke, as you reported, strong demand, limited supply, i get that but there is a point which consumers would presumably balk saying i'm not going to pay for that whole chicken like chateau biran. i don't know what the trigger would be but is it a given this price spiral continue toes in your eye? >> i think it continue toes for the near future, absolutely. listen, i used to go out, still go out wednesday every night my chicken wings went from 65 cents to a dollar. my 20-dollar a bill, i get 30 of them. that 20-dollar bill is $30.

everybody feels in their pocket a lot more. there absolutely become as point it becomes too much. i think we'll reach that point probably about in a couple years, there is just so much money being printed in the biden administration, democrats right now just seem to be continue toking to print more money. that is just going to cause inflation to continue to to increase. again it comes down to some unemployment benefits. people are still receiving money. those unemployment benefits are decreasing in a lot of states. as long as they remain high what is the incentive for people to go back to work that have no money in their pockets? this money needs to be stop being printed. we need to get back to normal how it was before the pandemic. neil: i do think a lot of stores a lot of product makers, carley, will try to hide that impact. we were discussing this on the show earlier in the week where packaging is a little bit smaller right now unbeknownst to you, fewer cookies in the sample or potato chips in a bag to

cushion the blow of higher prices. i don't think consumers are stupid. they will notice that. i'm just wondering will that mitigate this as it continue toes? >> yeah. i think, also really depends on somebody's budget. if you don't have a lot of money, you will be the first person to city home, say i will cook for myself. this is sad reality. we got out of the pandemic. everybody wants a bit of fun and go out. if it is because of price of dinner, there is so much money that the federal government is still giving people that is a really negative and sad consequence. i was talking to a restaurant owner, recently, neil, i couldn't believe all he is doing to get people to work for him. he gave pandemic bonuses, starting salary is $15 an hour. he is helping with tuition. he says that the thing with him is, he can't get somebody to come in the restaurant to interview because everybody is really still staying at home. so what happens, either you have to continue to to pay your employees more but then that

means that the cost of products are going to go up, or, you go out of business because you can't afford it. neil: that could be happening now. just seeing whisperings of that. guys, i want to thank you, very, very much. before you go to a break a lot of you are emailing me on the whole hydroxychloroquine issue, i hope, neil, you have blood on your hands condemning the president when he recognized that hydroxychloroquine could be a virus savior. i want to put out a couple things to put this in perspective. my comments when the president said recommended using hydroxychloroquine largely used for lupus and malaria, a danger to a subset of a population, those with heart conditions or respiratory conditions both which i have. in talking to cardiologists including my own at the time then, and i still insist now, for that subset of the population, and the fda verified this, some of those folks died taking it for that purpose.

now, whatever comes of this study, to say that it is something that can cure you of covid, jury is out on that. it is not as black and white what was said. i might point out the president who took hydroxychloroquine, swore by it, last time i checked he did get covid. i will put up on my web zit with my full remarks the at time president recommended this as a magic elixer people were concerned and panic this would be a option left out the possibility for those who were vulnerable, for those who dealt with heart conditions and respiratory issues, i don't know, guys like me, this is dangerous. this is not recommended. it wasn't recommended then. it is not recommended now. our issue always being safe with the entire population if indeed studies have proven those with advanced, advanced covid cases

on ventilators, this mitigated their danger and threat. have at it. that was not being said when the president said this. i was talking to a vulnerable part of the population that might leap on his recommendation. i stand by what i said then. i stand by what i say now. use with great caution and those who are vulnerable, don't use at all. good thing because there are at least three vaccines out to help you out. stay with us.

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the very same year that we were married. that's 1958. [voice of male] the chili bowl really has never closed in our history. when the pandemic hit, we had to pivot. and it's been really helpful to keep people updated on google. we wouldn't be here without our wonderful customers. we're really thankful for all of them. [female voices soulfully singing “come on in”]

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new atlantic charter. a little bit of history, roosevelt and churchhill at the end of world war ii signed the atlantic charter. this according to 10 downing street will ought line priorities like security and trade. they will discuss the potential will reopen, u.s. and uk travel along with a technical partnership. and climate change, near and dear to the president fighting cancer. we'll hear from president biden 45 minutes or so, the president will outline the first major headline of his trip as the white house unveiled today that the u.s. will be donating some 500 pfizer vaccines over the course of the next year. 200 million to be distributed by the end of the calendar year. the president will be making comments about that at the top of the hour. neil? neil: all right. blake, great job, my friend. blake burman at the white house here. now we know jbs of course the big meat wholesaler, accounts

for about one fifth of all the meat sold on this planet, made $11 million to those hackers who were trying to essentially hold the company hostage. the good news here, like the colonial pipeline they have been able to trace a lot of that money back. but the issue is still the same. will others pay what these companies did? after this. ♪. my retirement plan with voya keeps me moving forward. they guide me with achievable steps that give me confidence. this is my granddaughter...she's cute like her grandpa. voya doesn't just help me get to retirement... ...they're with me all the way through it. voya. be confident to and through retirement.

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♪ ♪ ♪ ♪ ♪ ♪ ♪. neil: all right, we've learned that jbs, the big meat wholesaler had paid 11 million-dollar ransom to get hackers off of its proverbial corporate back. they're still trying to dig out from under that. wouldn't you know investigators

traced back a number of those funds couple million. chad pergram is up on on on capitol hill. reporter: jbs paid $11 million in bitcoin to stop ransomware attacks. increasing hackers use bitcoin to ex-start money in all of half of ransomware cases. this was front and center for jen easterly to be the nation's top cyber cop. >> even as we contend with the billions of daily intrusions against our networks by ma like shaws actors i believe as a situation we remain at great risk for catastrophic cyberattack. reporter: senator angus king of maine described this as virtual battlefield. >> conflict can take place in a server farm on wall street, in a pipeline company or an electric company or in a water service utility anywhere in america. reporter: this is why there are increasing calls from private

industry for the government to develop policies to respond to hacks. now easterly told lawmakers there were 24 ransomware attacks last year. attackers demanded $320 million in cryptocurrency. neil? >> chad, thank you very much for that. want to go to phil keating on another bubbling development right now in the sunshine state they're pushing a vote on critical race theory. what is going on, phil? reporter: neil, as expected 25 minutes ago the florida department of education adopted a new academic standards next year widely reviewed as a official rejection of critical race theory. a vast majority approved the new measure. critical race theory deals with american history, specifically regarding slavery and the jim crow era and how those negatively impacted the lives of minorities. how exactly that is taught and to what extent it is taught is a hot button issue nationwide. in the past couple of months

conservatives and republicans have described it as unobjective indoctrinization of k-12 schoolkids. the board's public meeting discussed this and other history topics including the holocaust. florida's republican governor ron desantis has criticized critical race theory multiple times in recent weeks and spoke at the meeting. >> we have to do history that is factual. and if you look at things grown out of critical race theory it is much more about trying to craft narratives about history that are not grounded in fact. reporter: during the public speaker section where everybody had two minutes to talk people on both sides of the issue spoke passionately. some calling critical race theory marxist. others are saying the opposite is whitewashing american history. >> the job of educators is to challenge students with facts and allow them to question and think critically about information and that is the

antithesis of indoctrination. no matter our color, background or zip code we want our kids to have an education that imparts honesty who we are, integrity how we treat others and courage to do what's right. reporter: nationwide this has really become a hot topic this year on more than 20 states now, their boards of education have addressed the issue of critical race theory and amending their academic standards. neil? neil: phil keating, thank you very, very much. how is the mayor of miami dealing with all of this? francis suarez joins us right now. mayor, it does seem to be a central push to get this out there, make it part of our curriculum, how do you feel about it in your city? >> there is no doubt that the governor has the right through the board of education to set a policy as to what you know, what students are educated on or not educated on in the state of

florida. that is one piece of it. i think the second piece there are things i think we all agree shouldn't be taught in indoctrination type curriculum should not be taught in your schools. we don't have a class on communism or how to become a communist. that is certainly something we would not agree with. i think the fact that certain things have happened in the history of this country is important but creating a narrative that is political narrative based around those facts i think that's what offends people. that is what creates problems and it makes it feel like you're pushing something more than just historical narrative. that you're trying to push a political narrative. i think that is why people reject that sort of teaching in our schools and in our curriculum. neil: you know i was thinking of you knowing we were going to chat, we would talk about this but i want to talk about the rise of cryptocurrency proving such a mecca in miami. in fact the world's first such

cryptocurrency conference was held in your fine region. we're hearing a pricey miami condo to the tune of 22 1/2 million dollars was purchased with cryptocurrency, bitcoin i believe. how do you feel about all of that? >> we're super excited about it. we had the largest crypto conference in the world. we had over 50,000 people. attention of the world. first big large event post-covid and we also had, saw ftx, which is a major trading platform spend $200 million to rename the arena where the miami heat play. that will be used for gun prevention program and summer jobs program for children. 300 high paying jobs at $100,000 approximately per job. that is a 30 million-dollar annual recurring economic

impact. el toro, es israeli based exchange, second largest crypto exchange in the world, headquartered in miami. that is another 50 jobs. all this economic activity is creating prosperity for our residents. it is positioning us to be the city of the future. that is what i'm talking about often. neil: do you worry though, that in the wrong hands it could be dangerous? some are calling for more oversight of these currencies. how do you feel about that, mayor? >> well i think there definitely has to be oversight, no doubt about it. has to be regulation like there is with any kind of new technology. but the second part of it is, that remember, that the currency that has been most abused in terms of illicit uses is the u.s. dollar in a cash form. the fact that these currencies are digital actually makes them more accountable because there is a digital trail that can always be audited, always searched that is why people are

getting caught. when you deal in cash there is no paper trail. the fact we're going to a digital world actually makes, creates for more accountability. that is something certainly needs to happen. neil: so, if you are endorsing more conferences and the rest, i can't blame you for that, certainly more purchases than the rest, to each its only get that, you don't think there are some elements that could, maybe, pull some clever tricks here? >> look, i think, you know, anytime, look, illicit activity on a variety of -- neil: i'm sorry. we lost contact with him there. i apologize for that. but again we're monitoring closely. if people are worried in the south florida area about crypto currencies or bitcoin more specifically they have a funny way of showing it not only through their conferences but a number of other big purchases including this miami beach penthouse that was paid entirely

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♪. >> i don't want to draw unemployment. i want to work. a lot of people are hurting in this country. he added to the list when he signed that piece of paper. neil: all right. that is, carley shimkus found out talking to a lot of these folks.

they knew the president pulled the plug on the keystone pipeline. today the company formally did. go to casey stegall in dallas with more. reporter: first of all, some background on this, as you well know the xl portion of the pipeline was set to be the fourth and final phase of this project. because remember, roughly 3,000 miles already been built, originating in the tar sands of alberta, canada, pushing product to the main storage hub in oklahoma and down to houston and the gulf. it branches off in places feeding hubs and refineries in the u.s. the proposed xl pipeline would be 1200 miles larger in diameter to carry new product, the rout from canada would be more direct, running through places like montana. now all of that is off. after the pipeline's owner,tc energy corp, a canadian company halted the deal. this after president biden's executive order revoked a key

permit needed to move forward with the controversial project here in the u.s. it is considered a win for environmentalists and other groups who fought it but a loss for those who rely on the industry to make ends meet. >> guy that runs heavy equipment wonder, you know, to build pipelines, how is he going to get a job in solar? how that guy had 30, 40 years of welding experience putting pipelines in, how does he you know, how does he transfer that to solar? reporter: while the pipeline has been debated more than a decade, key gop leaders are calling president biden a hypocrite for waiving sanctions on the russian-backed nordstream two pipeline. that runs from russia to germany. that effectively kills the pipeline project here in the u.s., one that tc energy, the company again owning the keystone pipeline, says was projected to create about 11,000 u.s. jobs, generating about

1.6 billion in gross wages for 2021. neil? neil: casey, thank you. casey stegall on that. now to luke lloyd and carley shimkus has been monitoring this story better than anyone i know. carley, workers were afraid of this day. it has come to pass. hang on from a different administration, different point of view, the company said no, what do you think? >> they were hoping for this attorneys general lawsuit to possibly move the needle on this but unfortunately the company said okay, we're not going to, we're not going to wait any longer. we're going to shut down. now, there is already pipeline there. a bulk of the construction was supposed to be done, was supposed to start a few months ago. as for what is already there. the company could leave it there and hope to persuade the next administration to start the project again.

i'm sure if it's a republican they would be happy to oblige but as for biden, this was a purely political decision. it was a pander to environmental groups. unfortunate reality it doesn't do anything to make the country more eco-friendly because that oil is coming into the u.s. by truck or train. the pipeline would be a cleaner way of doing it. and it did kill a lot of jobs for a lot of people, who are out of work. they were told to get a green energy job. unfortunately those green energy jobs simply do not exist in this country right now. neil: yeah. the administration says they will eventually. eventually for some of those workers could be -- >> what are you going to do in the meantime though? neil: you're quite right. luke, i don't know whether there is a connection between the president stepping back from fossil energy to the big run-up in oil and energy prices we've seen. that is sign as well of improving economy and rising

demand and all that, i get that, but i think we established a level which we were such an energy independent country and now dramatically less so. why can't we be all in with all the energy? have at it with wind, have at it with solar, have at it with all of this? for god's sake don't forget what got you to the independent energy position? >> question, neil, what biden and climate change activists need to realize forcing oil companies to move quickly into green energy actually causes more issues for the environment. removing businesses from their profitability can actually slow the transition towards green energy and renewable resources, renewable energy and take away jobs. transitions like this takes time and a ton of money. if companies do it too quickly and lose their profitability, they have less money to invest in green energy over the next decade. with any kind of big change like

this it is best to let markets drive efficiently, make changes naturally, and green energy is coming when companies are force to move to it. innovation will occur stricter without limitations an restrictions. bankrupting businesses and costing jobs is not the way to go. if the free markets work properly all of us will become energy independent here in america. neil: the markets will decide that. that is the history of our country. i am curious, carley, the reality more towards electric vehicles and the rest, could explain why tesla will be live streaming a new model s played i think they call it, 130,000-dollar vehicle can go almost 400 miles on a single charge. i'm sure elon musk is looking at these developments as the wind at his back, right? >> right around i also think he

lives in reality, and recognizes that oil and gas are stole what the country relies on. he es electric in the future which is a good thing. i can't believe we were talking about this right now, when i come into work, very first time my uber driver picked me up in a tesla. i never been inside of one. and i couldn't get out of the car because the handle was hidden. it was like a spaceship. so yes, there is a big event that is happening today when he unveils this new, i think he is calling it the most ludicrous car he ever enveiled. supposed to be the fastest. some exciting news in the electric car industry as well day, see, carley, luke doesn't have these problems, because he asks his driver to open the door for him which i think is very egalitarian. >> no. no substitute for american muscle. i have a charger. american muscle car. neil: there you go. luke, i'm looking at that, and

these developments, all the major carmakers want to beat tesla, right? they all having a aggressive plans for entirely electric lines in a matter of few years. what do you think of that? >> this is an evolution of their product line, calling sitting fancy. good job, tesla, pat on the back. cars have gotten more efficient, but tesla will not be substitute for american muscle. you can't replicate the rumble of a gas engine tesla has a cult-like following, once you get in the price range you have bmw, porsche, and mercedes. have you seen the porsche ticon. everybody is making electric gadgets. only difference elon musk builds up hype. why do you think tesla put bitcoin on the balance sheet, it wasn't for bitcoin supporters but to support tesla.

tesla is stock i personally will own close to this evaluation. neil: very interesting. i thought they pulled back the ability to buy or sell cars with that. maybe they will reactivate it. right. >> the thing is like i said, elon musk wants the publicity. neil: he is very good at that. his tweets can move a whole market and industry. luke, final worried. carley, thank you very, very much for joining us. sorry you had problem getting out of the car. >> luke just mentioned muscle cars and wings. i'm wondering luke, if you want to be my best friend. >> absolutely. come on over. >> two things i appreciate. >> we'll go race some cars. neil: luke is a man of the people. he is a man of the people. thanks, guys. >> see ya. neil: thanks very, very much. we're watching the rage over meme stocks. now you asked for it, meme buyers. they're looking at gamestop and right now, i think it was the

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♪. neil: you know i was speaking with my buddy charlie gasparino he and i are ones at fbn old enough to remember ronald reagan's inauguration and most dreaded words from the government we're here to help. i guess we can extend that so the sec looking at meme stocks, mainly gamestop, we're looking at the stock police we're here to help. where is this going, charlie. >> we've been foreshadowing this all week t came out in filing at gamestop. it trades under the symbol gme. they are the retailer that sells videogames in mall, all the rage with the reddit crowd and robinhood crowd, one of the meme stocks not making a lot of money but trading through the roof. interesting enough the trading patterns are being investigated by the sec. it is not just gme. we should put up the statement. it is really clear according to my legal sources who read these things all day, almost explicit

right here, look what they're saying, they received this request from the staff at the sec voluntary production of documents concerning sec investigation into trading activity in our securities and the securities of other companies, neil. that's what i'm talking about here. we are talking about a broad investigation into the trading of securities, not necessarily gme and that is problematic for people, for traders if they're looking at a manipulation case. it is clear that it is gme and these other meme stocks. i hasten to say it is amc or whatever, that's the movie chain theater also a meme stock, only because they have not put out any disclosures. we've reached out to them. who knows what they're looking at but they are clearly looking at the genre here and again i should point out these are very difficult cases to make, manipulation. i'm sure they're looking at reddit message boards whether

people are pumping the stock up beyond all means. we should point out gamestop itself, amc itself has been really careful in what they say. amc often comes out and says the shares are overvalued even as they're issuing new stock. you may not want to hold at these levels. gamestop said almost nothing. these companies themselves have been very careful but there is something going on in the market obviously that the sec sees suspicious in terms of the trading. they're clearly looking at it. one fallout could be the robinhood ipo. legal sources are telling me there could be legal issues with the ipo. robinhood is the app people trade on. they will have to do an ipo and do disclosures. we have a hard out. bankers tell me the robinhood ipo is on track for late they are summer. back to you. neil: got it, my friend. you are far bigger than a hard out whatever that is. hard out, hard out. hard out, we got to go. more after this.

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camera man: prevented. you can get vaccinated. baby, call the doctor. camera man: hey! you can also get it from your pharmacist! 50 years or older? get vaccinated for shingles now. neil: you know, so many crazy things going on in our country and our planet right now, sometimes it's good to just look up the sky and say is anything interesting happening up there? well for an intrepid view got it very early this morning, at 5:30 or 6:00 at a minimum, you witness something called an an nular solar eclipse, a chance to see what they call a "

ring of fire" and maybe my tech director here, you're an astronomer and he took great pictures of this but it's the moon that looks almost as big as the sun, blocks it out briefly so yeah, this ring of fire that shows up it's not the moon becoming the size of the sun. he assured me because i was very worried i called him frantically this morning my god! but anyway, i had not gotten up early, mistakenly thinking the alarm would never wrong me, it was a brief moment but something that i think sometimes we get so caught up in the back and fourth and craziness of earth we just look up and say there must be something else to watch. this morning there was. for millions of people who got up very early from canada, to siberia, to the eastern seaboard of the united states and they got quite a treat. blake burman is quite a treat right now following a lot of developments between the president and counterpart boris johnson hosting this year 'sg 7 summit. we're waiting to hear a little bit more about this deal to get

more vaccines in more of government's hands where is that going? reporter: first full trip for president biden, first foreign trip on the first full day, neil and we're about to get the first major headline from the president on this week- long trip and that is at least with what the white house is telling us in the lead- in to the speech, that the u.s. will be donating some 500 million pfizer covid doses all across the world. here is what the white house is telling us about this. 92 countries which the white house says will be for low and lower-middle income countries they also singled out the african union. now 200 million of those doses will be distributed by the end of this calendar year, the remaining 300 million by about this time next year. the white house is also noting that these doses will come from plants within massachusetts, michigan, missouri and kansas so they say that means jobs back here at home. now when you look across the globe right now, neil, the u.s. by far and away, the leader when it comes to

doses administered. according to johns hopkins university the u.s. has about 140 million people vaccinated, roughly 95 million more than any other nation on the planet and with about 43% of our population fully vaccinated right now, that is eighth worldwide but it is certainly a much different picture in many many other countries, because according to johns hopkins there are at least 32 countries right now, neil, that haven't even vaccinated 1%- 5%. so coming up here in a little bit we will hear from president biden, 500 million doses, all across the globe, 92 countries at some point over the next 365 days or so. neil? neil: all right, blake thank you very much for that want to go to karl rove on all of these developments. i know, karl, we're still early in the summit process here and a lot of other big things to come. how do you think it's going thus far though? >> well, i think it's going okay but you're right. we're at the beginning of the

process. when you sculpt a trip like this and plan out a trip like this you'll want to start off with something that's easy and positive, and that's why the president went i think to britain and it was in boris johnson's interest to rollout the red carpet for him, the united states a special relationship with the united kingdom, and boris needed to sort of show that he was going to be as close to biden as he had been to trump and so all of that workinged to the white house advantage, and soft, easy first stop. neil: you know, if i could switch gears a little bit, george p. bush, jeb bush's son, was showing his support and i guess donald trump support of him last night on fox news saying that he thinks that donald trump is still the center of the republican party. i knew i was going to be talking to you today and i'd be curious to bounce that off of you. is donald trump still the center of the republican party? >> well he has an enormous following in the party, and i think that's probably accurate

if the presidential nomination for 2024 were today and he were a candidate he'd win it and win it easily, but you know it's hard to recreate the magic and we'll see where the country is in two or three years. we'll see where it is next year. nobody is going to be able to get elected next year by simply saying even in a deep red state, i'm with trump and trump is with me. people are going to have to politics changes, the times change, issues emerge, people are going to be concerned by the time that we get around to next year's elections with not only where do you stand on joe biden but what is it that you want to do for the country, particularly in swing areas. it's fine if you're a democrat fine if you're a republican in a strong blue or red state or district. the sort of run on the old favorites, but particularly in swing areas it's going to be more important for people to describe what they want to do and how they want to do it in order to get the support of swing voters in a mid-term

election. neil: are you surprised by the number of republicans are just holding off making any announcements or even teasing fundraising, or anything like that maybe with the exception of chris christie, i'm not sure, waiting to see what the former president does. >> no, i really am not, because think about it. you've got some that are out there aggressively raising money like ron desantis whose on the ballot next year, but think about in recent years. donald trump did emerge until nearly the summer of 2015. that be roughly two years from now, if you're looking at the 2024 election. i think a lot of candidates want to run. they know the future is unknow able. they want to do what they can in the intervening time to build up a base of support to get some street credit, if you we, with the rank-and-file of the republican party, to build their e-mail list and fundraising list and to take the time to develop a message and frankly, we've got several

geological ages this year, next year, before the mid-terms, and then again before the 2024 presidential sweepstakes heats up for all of those people to go out there and do those things and i can tell you, haven't been around a couple of those kind of efforts, it is valuable for a candidate for a president to be out there doing things when they aren't a candidate for president, it helps the smart ones become better candidates if they do decide to enter the presidential race. neil: you know, i don't want to push my limits here, karl, you're very close to the bush family, you worked for president george w. bush, and i'm just wondering you're very close to jeb bush and when you hear the kind of things that george p. bush is saying about donald trump and the horrific things said about jeb bush, i know politics is politics, but how's the bush family dealing with all of this? >> well, look again, i don't speak for the bush family but i can say this. i can say that both his father and his uncle are awfully proud

of what land commissioner george p. bush has been able to achieve in his six years in office and they are strongly supportive of him and whatever political endeavor he wants to undertake, and, you know, look. they're less concerned about what the donald trump says about george p. bush or georgep bush says than what he wants to do to help make texas a better place and make sure we keep the state red next year when we got a very important office, the attorney general's office very much at risk given the circumstances surrounding the incumbent. neil: all right, that is a very astoot answer. very carefully carefully-raised so karl rove, hats off to you. >> let the record show i didn't know that was coming so i did that all on the fly. can you believe it? neil: [laughter] i know. every time i try, i can get him, i can get him today. no, i did not. karl just kidding, karl rove, all of the fast moving developments he doesn't deal

with requests and doesn't want to know what you're going to talk about everything is always on the table. on the table right now if you're flying anywhere, i know that sounds weird post-pandemic but you're going to encounter lines, not only because a lot of people are flying but they have right now a shortage with the tsa. lidia lydia hu at newark's liberty international airport on that. lidia? reporter: yeah, hi there, neil. the airport saw the highest number of travelers just sunday since the start of the pandemic. more than 1.9 million people were counted crossing through at tsa checkpoint just on sunday, and it's like you said, creating lines at security checkpoints at some airports across across the country raising concerns about inadequate staffing. this video was posted by nascar driver tommy joe martin traveling through charlotte douglas airport last week calling this the "single biggest tsa checkpoint disaster" and

here is a look at lines wrapping around austin's airport last friday. that airport recently advised its travelers to arrive 2.5-3 hours ahead of their departure time. now the acting head of the tsa reportedly warned this month that 131 of the nation's airports will face staffing shortages and now, the agency is asking its office workers to volunteer to manage lines at checkpoints which the agency tells us is a typical request made during this peak travel times, but they are also promising a $500 monthly bonus to workers at some airports and $1,000 signing bonus for new officers. now, the officer union president says inadequate staffing raises his concerns about safety. >> tsa is protecting the fine public and life and property but it makes it very difficult to do that when you have too many people's minds and not enough employees to screen them in a

sufficient amount of time. reporter: now, the agency said in a statement to us that it is "weep positioned to handle the rising traveler volume." earlier this year it set a goal to hire 6,000 officers for airports across the country. so far it has hired about 3,100 but also, neil, note its also lost about 2,100 officers. they say they are part time workers but still, the union president says that underscores the larger issue here, which is retention. he wants retention, moral and pay to be addressed otherwise these long lines at tsa checkpoints, they are going to continue through the summer. back to you. neil: lidia at newark's international airport thank you to liz peek right now. liz i knew we had labor shortages. i didn't know it extended until lidia's report to the tsa but it is a sign of the times isn't it? we have a whole lot of jobs going begging and no one is taking. what's happening?

>> i think that's the big surprise at this period, neil, is we have 9.3 million jobs available according to the jolt survey, and yet, unemployment is still close to 6%. i think you're seeing businesses everywhere struggleing to attract workers and that means wages going up which is good for workers but it also means prices going up because businesses paying more for labor are returning around and raising prices. right now, consumers are willing to put up with that because they have a lot of money in their pocket thanks to the economy coming back and hand-outs from the federal government, but i do think we're all assuming and the markets are certainly assuming that the fed has this right, that this is temporary, nothing to worry about, obviously the latest inflation rate of 5% is pretty stunning, compared to a 2% guideline. i think the one thing that's different is just what you're talking about. i don't think the fedex effected

there to be a labor shortage when there's still 7 million people who don't have jobs. neil: do you know what's weird too is the market's reaction, right? but this is temporary even with these double-digit increases we've seen in appliances and a host of other areas thinking about a short-lived but markets are racing ahead and they could be focusing as you said in the past on the underlying issue here, and that is the strong economy, and strong demand and people are willing to pay more for the stuff they want to buy and want to eat. so maybe that's it but what is driving stocks? >> well, i think earnings. earnings always drive stocks, & companies so far have not seen such cost increases that's putting a real crimp in their margins. that could happen, certainly for companies that can't raise prices that are in commodities- like businesses or don't have something special to offer. i remember this kind of conversation from the last big

surge in inflation. you look for companies who really can price their way through the cycle, but right now , neil, everyone is doing well, earnings are exploding, with the comeback in the economy and so i think, i think investors have gotten quite complacent and reliant on not fighting the fed, but they are also looking at earnings so you have kind of two things in sync. the other thing that's a little worrisome to me is that rents are 41% of the cpi. rents have just started to move higher so all of the talk of transitory, i don't think that stops right away. i think for a lot of reasons including a shortage of housing, we're going to see rents continue to rise and that could put pressure on the cpi going into the fall and even next year neil: are we going to have to worry about inflation? >> you know, neil, the fed has gotten it wrong before. let's hope they aren't getting

it wrong this time. i think the other unique factor, we've never had a monetary expansion on both sides of the atlantic which is what we're having right now. this has literally never happened. the ecb and fed balance sheets combined went up about $7 trillion, over the last year, and that's just a gigantic number. my view is we're in unchartered waters. i don't think anyone really knows what six months from now we're going to be looking at in the way of price increases. neil: all right, liz peek, thank you very very much i'll see you a little bit later here hope to get dan geltrude with us as well to comment on some of these developments also letting you know what's going on in washington on these infrastructure talks we're hear ing from mitch mcconnell that even though he is not hear ing of consensus that's been reached on infrastructure, he was responding to rumors that one has been reached. he just doesn't see it himself or have any wind of it, we're told, but talk like that is

election trish regan fridaying some buying, we'll see , after this.

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neil: well, if anybody remembers the teacher suspended from his job because he had a devil of a time referring to transgender students by pronouns, he's been vindicated and there's another part of this story jillian turn erin washington, what's going on >> hi, neil so this gym teacher is tanner cross now officially reinstated at the school where he teaches and he's being represented by this group calling alliance defending freedom and they tell fox today they feel this is a huge victory for both freedom of speech and for religious liberties. ckuiiste lte tonnce,iend ace f kor tdsha tyve ote tndhat als violateat theat the the rio princi uples und uain p of o o pontiall termiontiti by t

ventmemerepo reer: er ser s c c c w w p nd a t a adneneblic schicrt aere ut i onnn opp ooso to ts ir vni stete pteolteyic that rre t tersch dresads stuntss bheirhe pros, le le ole theirheir sir att bir s, hself this entire case bee aeeiolationon h civil libeies a a distio wha w he sees as his actual job which is teaching the kids pa. listen. >> we just were so happy about the results that the judge made and we just really are looking forward to getting me back in the classroom doing what i do best and that's making kids healthier and having fun. reporter: so now legal experts that i've been talking to separately say that this case may well make it all the way to the u.s. supreme court and ultimately compel justices there , to reframe or reconsider the way that one is used to protect speech of public employees in the 21st century particularly educators. take a listen again. >> so this case very much is a

microcosm of an ongoing discussion and that discussion tees up the question of whether religious freedoms, whether the right to free speech is going to be sacrificed, ultimately, on the alter of political correctness and woke ness. reporter: religious freedom advocates including some parents at this very virginia school agree they tell fox news they believe that politics are being forcefully injected into the public school system, and that oftentimes this is coming at the expense of the harder academics, like math and science and reading and writing and all of the other subjects. neil? neil: yeah, all of those subjects, jillian turner thank you very very much, i want to get her read on all of this , the independent women's forum senior policy director, hadley, regardless of people's views on this particular subject and i understand both sides i get that but all this is happening as the u.s. is falling further and further behind other countries when it comes to core issues of education that matter

like math and science and all of that, what do you think? >> this is a good argument for school choice for one thing, neil parents should have the ability to decide what type of school to send their kids too school choice isn't just a matter of getting your kids the best education academically but it's also a matter of finding a school that matches your family's values. that's a big part of the reason parents decided, you know, many parents decided to home school and keep home schooling, even inside of sort of the covid pandemic, alleviating here but i think all of this just a good argument for why parents should have leverage in their public school systems and why they should also have the choice to take their children out if they don't find that the schools match their values. neil: you know, i think jillian is probably right. this has all of the classic signs of a case that makes its way to the u.s. supreme court. what do you think of that? >> i think that's probably going to happen, neil, and we'll see what the supreme court has to say about this issue in particular. i think the politicization of school curriculum is nothing new

of course there's this happening in terms of the pro founds teachers might use and also this issue of critical race theory in schools and the way that schools are really taking on this role that traditionally has been the role of the family to sort of keep children about what's called their social identity or who they are in the world, and i have nothing against character education in schools. i think that's ponder and i think it's good to teach kids this is how we treat one another , we shall all treat each other equally and fairly but schools are going a step further and saying this is the world view that's correct and this is the world view that you should adopt regardless of what mom and dad say, regardless of what your church might say and that's where they are going a bridge too far. neil: i'm just wondering if the education lobby, teacher's unions and the rest is sort of more put together, overplayed their hand, this pandemic year, and these frustrations are an illustration of that. what do you think? >> yeah, i think that's true,

neil. i think there's a couple of different issues coming together here and one is the disappointment and frustration that so many parents across the political spectrum felt when school closures took place and then maybe overstate their welcome and over state their necessity when it came to covid. we've got a lot of precautions now that we've learned in terms of social distancing, masking and now vaccination for teachers widely available across this country and so it really became the case, neil that school closures weren't necessary anymore. i understand why we did it in the first place but a lot of parents feeling like i can't get my job done, i can't go back to work, i can't have the work- life balance that i want and i can't see my children flourishing socially and developing in school the way that i did and the way we want to do traditionally but i think there's been this other issue coming alongside the school closure issue, which is what are students learning in schools and parents got a big taste of that when we were doing virtual or hybrid schooling and sometimes parents weren't happy with what

they saw and they felt shut out of the classroom for being told they weren't supposed to listen in on virtual learning or watch what teachers were doing and that made parents feel rightful ly left out, locked out, and concerned about what their kids are learning. neil: hadley heath manning, we've got to watch this definitely a high court case the way it's going. so probably runs the other way, but thank you very very much. we talked to you about employers of all sorts are doing everything they can to hire workers, but this next guy who runs the nantucket, largest seafood restaurant, he is pulling out all of the stops and still, it's difficult. something fishy going on there. see what i did there with something fishy? okay, fine, we'll have more. >> ♪ ♪

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neil: all right, president biden right now in england. he is addressing an audience there where he's talking about his meeting with boris johnson. we'll have a lot more meetings to come here, but they got to sort of bridge some differences here. they agree on the big stuff like loaning more vaccinations about half a billion of them over the next couple of years, and parceled out to the world's poorest countries over the next year, i should say, so they are common ground there when it comes to some of the violence that we've been see in northern ireland, not so much there, but we're monitoring it very closely if any news comes out of there we'll of course pass it along to you. also passing along right now, reports back home in washington that the president could have some trouble explaining a lot of the aid that we had been seeing coming post-covid particularly unemployment aid. forget about those businesses that complain that it really had stymied their ability to hire workers. now, we're hearing that a lot of

that money has been just stolen, gone, missing, and hillary vaughn with more on that on capitol hill. hey, hillary. reporter: neil, well boosted unemployment benefits during the pandemic were intended to help people that needed it the most but now experts are saying that that unemployment insurance pandemic relief fund is being treated like a slush fund, financing international crime from criminals, aligned with our adversaries like russia and china, and doing it all, with their blessing. >> it's $250 billion that went to organize groups located outside of our country. we believe that money is being used for nefarious purposes including terrorism, drugs, and child trafficking. understand that at least two of the three groups that are involved here are state-sponsor ed. reporter: id.me is a government contractor that works with states to screen unemployment

claims for fraud. they estimate that $400 billion so far has been stolen from the pot of pandemic money. their ceo gives this statement to fox business saying, "we've also had multiple states screen their existing claims pool through id.me to vet the claims that were processed prior to our introduction to verify new claims in every case, the fraud rate in existing claims pools exceeded 50% and the white house is tracking the issue, white house american rescue plan coordinator jean spurling tells fox business in a statement" widespread fraud at the state level in pandemic unemployment insurance during the previous administration is one of the most serious challenges we inherited. president biden has been clear this type of activity from criminal syndicates is despicable and unacceptable. the white house also set aside, neil, through the american rescue plan, $2 billion to try to modernize unemployment insurance claims systems but they also had the doj establish

a task force to deal with fraud, to try to tackle this. neil? neil: all right, hillary thank you. we always talk about restaurant owners and small business owners having a devil of a time getting workers not so much because of some of the unemployment help and all of that, although that could be playing a role here but because of the demand on them right now, in nantucket, you know, the straight warp restaurant is like an institution. it's a go-to place for those who want to vacation on this massachusetts island, and want to have some good food, and of course, largely seafood among the best on the island. the one problem for the guy who runs it, the chef of the partner is that he's had a devil of a time finding workers and he's doing everything he can to incentivize them to come. i wonder what progress he's making he joins us right now. gabrielle thank you looking there? >> thanks, neil, thanks for letting me talk about our it's a beautiful day.

the staff that we have are wonderful and harducky. this hiring thing is not new, you know, a friend opened a new restaurant a few years ago told me he doesn't know what it feels like to have a fully staffed kitchen and this has been coming , however, it is particularly acute right now, and as you referenced the first time ever, we're offering even more incentive, we're offering signing bonus to cooks of one week's pay, in addition to two weeks bonus at the end of the season. we provide housing for back-of-the-house staff, everything we can to increase the skids and make this possible , but frankly, there are no applicants out there, and, you know, why that is is probably above my pay grade, but it's the case. we're on all the sites that we

traditionally are and the more targeted ones and where we might in the past get 20 applicants a day, we're seeing one or two and usually without applicable experience. this is not a restaurant you can walk in and cook the grill at if you've been overseeing a storage facility. it's just not. neil: yeah, i mean, to say that you have a beyond your normal pallete choice of meals, i mean, just not any joe or jane can come in and start preparing these marvels. i was looking at your menu and by the way, the scottish salmon sounds incredible! >> [laughter] neil: but i'm wondering, i'm wondering, what would, you got to be very selective but are you almost tempted, you know, gosh i'll take anyone with a pulse right now. how do you balance that? >> sure. in the long run, it tends to not

we bother it to us to do that. i've learned this lesson the hard way and i'm sure i'll relearn it again this year. we are better off being down a man than we are putting someone in a position where they are going to fail. that being said, we're at the point where it is going to affect our business, and it is impacting our operations. we usually have a separate bar side that is not open for traditional menu right now, and the first time this has ever happened. we're supposed to go to seven days a week in a couple weeks. i can't tell you if we'll be able to do that. same thing with lunch and brunch , we intend to do, we would traditionally do, but right now when we need to fill 11, 12, 13 positions, we're pretty far away away from that. i am, to your point, interview ing an eighth grader this evening, which means we're at the point in the hiring process where not only are we considering eighth graders but we're interviewing them so it's a new position for me like he's

got housing, so you know? that's always an issue. obviously, nantucket is a microc osm, but also its own world, and you can't commute here. you have to be able to sleep here, so that kind of limits the hiring pool. neil: it's a beautiful place to have that i'll say that but gabr iel i was reading about your background, i recognize chef right now but you started studying journalism and i'm thinking about myself. i'm so glad you didn't go into my industry because you would have blown us all away but i am now wondering, i mean, do your customers with what's happening, do they get impatient or does it take longer for them to get served or how do you deal with that? >> well, we, you know, it's a great question. we certainly, you know, we believe in the show must go on and we try to make sure that no one knows that we might be a

little short staffed. that being said, you know, there was initially, i think an era of good feeling and that was true last june, when we were able to open and true again this year when we opened right as restrictions were being lifted. people were grateful to be back in restaurants again and then by the third night, you know, i think most people were back to their usual mo, whatever that is , if they were the type who came in wanting that table right now, they referred us to that. we don't think it's our guest's responsibility to understand the position we're in. all of that being said, yeah, you know, it's appreciated but we're like anyone else, and we put a little disclaimer on that that we're having trouble getting things, that's a huge challenge for us on a daily

basis. we're having trouble getting things, things are more expensive and there aren't enough people, so that's quite a greeting. neil: yeah, i think they are going to put up with it because stuff sounds so good i was looking at this creamcicle, vanilla custard, sign me up sign me up! gabriel man, hang in there my friend. you've got a great reputation. it'll all sort out but it's a nice problem to have. >> neil, thanks. neil: thank you very very much. it looks beautiful behind you there. all right, so that's part of the reality. you know the good news is that people are eating out now, and the demand to do that is out and the good stuff is there and they will get through this and wait through this , but the curse is to keep up with that demand, they just don't get the help, even when you're providing housing, probably one of the

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a fund that invests in the innovators of the nasdaq 100 like you become an agent of innovation with invesco qqq neil: you know, have you guys been following griff jenkins reporting from the border? it has been stunning but yesterday during my 4:00 p.m. fox news show, he had an exchange with i guess a smuggler who was happy to talk to him, you know, heading home from mexico to the united states there is griff talking in spanish just seamlessly this guy is explaining his story seamlessly, just like griff talking to a woman who had come from guatemala and reported that's in her family lent her his phone so she could call them up this is common for griff and what i liked about his reporting is that when you hear official explanations that there's nothing to see here at the border, time and again, he was saying yeah, there is something to see here at the border and he shares it with us everyday.

griffin del rio, texas with more griff, i bet when you hear people of all sorts say look away, this is, we've got this under control. day in and day out, you say it's not under control, is it? griff that's right, neil, good afternoon and thank you for the kind words. as a journalist you've got to find out for yourself and i must also disclose that my spanish skills are like speaking to a 5-year-old child with spanish. i know a lot of the words but not perfect. i did my best talking to that smuggler, but that smuggler's interview was very interesting, neil, and we had the spanish fluent-speaking folks at fox take a hard look at it and it confirms what i thought i was hearing which was i was trying tell him that the administration president biden says that this border is closed and he says no, no, it's open. now, he also told us that he makes about $200 a day to move

those groups across in this specific area which is almost entirely venezuelans, and he says actually that the mexican police are much more frightening and corrupt. he fears them more than he fears american law enforcement border patrol and folks on our side of the fence, but that line we saw of migrants there was a total of 91 in that group ranging from infants to the elderly, there's a pregnant woman that had to have an ambulance come and get her just unbelievable, and i did get to speak with one of the migrants in that group named jose from venezuela, neil, and i asked him about how he interpreted the message that migrants are being told in venezuela about whether or not to come, or to stay. here is what jose had to say, listen. >> something that i've been sed it was all the people talking

about. griff: what do they say? >> they say that there is better opportunities here for immigrants, so i took the chance. griff: and come, they do. neil in this sector, the del rio sector alone, with those new may numbers we got yesterday overall 180, 034 total, the percentage that were up fiscal year 20-21 is up 457% here in del rio and that is why perhaps it's good that governor abbott will be coming here to talk to the local sheriffs, mayors, judges and land owners, because they have a situation on their hands that is absolutely unprecedented and un sustainable. the sheriff here martinez here telling me earlier, that the taxpayers here in this small community cannot bear this burden, something has got to be done and has to be done as

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neil: you know, you ever wonder what makes meme stock a meme stock, and because there are a lot more meme stocks right now, maybe today, the big catalyst is talk to the sec wants to look at a trading and gamestop, maybe it's the fact that it's about a lot more than just gamestop, it could be amc, it could be even wendy's right now, you know, public health concern, and honduras and on we go. i want to explore that with dan geltrude and liz peek. dan, how do we define meme stock s today? it used to be that you focused on those that have large short position or those who were betting the price of the stock to go down because they discovered some problems. now, it seems to be attach to frantic trading on both sides. how do you describe it? >> well, i think it's a combination of the two, right, neil? i mean, this is an evolving phenomenon which, you know, it really doesn't make a heck of a lot of sense to me. it really comes down to the stock market in this

particular case is no different than the casino. these companies that we're talking about, where is the value behind or the justification of the values that we're seeing trades at? and they're just not there. now, i know people get caught up in the shiny object phenomenon of trying to get in before they get left behind, but i have been telling people, you need to resist this. this is not investing and this is not a place where you should be because at some point, the music stops, and you just won't have a chair. neil: you know, liz, there are a lot of people who are momentum players that maybe in this age of the amazon and the tesla and those feeling they missed out on that but i won't miss out on this , just truncated in rapid short time, what are you telling investors? >> neil, i can't stand this

whole concept honestly. it isn't like amazon. amazon was a company that had a brilliant idea and became a brilliant company. these are companies that largely don't have brilliant futures, they're not earning money, they are on their backs for a reason, which is that their prospects are so terrible. this is not investing and it's not even trading, good traders go on momentum and issue and factoids like that. this is just gameplaying and it's manipulative and i think dan's totally right. people are going to get hurt doing this and boy i'll tell you what if you're looking for signs of excess in today's market, it has to be in this group of frantically-traded stocks that have absolutely no relationship whatsoever to value and are all about rumors and speculation. neil: yeah, you know, in the case of amc, dan, i could understand a bullish case, maybe past-pandemic business would pick-up but then it goes on

steroids the longs am could in on these sites like reddit and then pushback and then it goes crazy. should the sec have a role in policing that or leave it alone , buyer beware. >> i think the sec needs to leave this alone, because it should be buyer beware. look, in the case of amc and it's funny right before you brought it up, amc was actually the thing that was on my mind. that company, literally, is completely, it was virtually bankrupt, right? now, it's on this role and we really have to look at whether theaters in general, that industry even has a chance to survive, with people being able to get access to watch anything they want. neil: we just got to, i'm hear ing that hard break, guys i'm being rude, all right so we'll see how it plays out. we'll have more after this. every curve, every innovation, every feeling. a product of mastery.

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