the google about the cloud question, it says 1.1 million when you google that question. even google says it depends on the size of the cloud. i oppose the trivia question and your follow up. stuart: i got the trivia question wrong for the past week. i'm a negative roll. guess what, my time is absolutely up. in two seconds i'm out of here. neil, it is yours. neil: all right, stuart, thank you very, very much. we are focusing on a couple enlotspm rre whe whe hees id ent widasenidenoo t ectly,omine toagheuildg. tmirighp t bght limit famieefside weet o getor 18 ll unacc uor.oror le gt'ososhwele iwebsnside wsidh

hley: hey, neil. ent hast sost of omentomen tomalenki state sta rescueort.ort.ties invvedved the messa mgeess simplou a a nning theg tw,w,teveteveteve supp neeoud n adstration will provide it. the president also mentioning the mental anguish for the rescue workers going you there the rubble piece by piece looking for any signs of life. the president acknowledging that. listen what he said earlier. >> a lot of pain and anxiety and suffering, even need for psychological help in the days, months to follow. and so we're not going anywhere. >> thank you, mr. president. >> no, for real. ashley: and neil, as you said the president also meeting with family members of those who have loved ones still unaccounted for in this collapsed building. he will bring a message we're told of hope and comfort and unity. the president of course no

stranger to tragedy in his personal life. his empathy is real comfort to those family members as they wait for the latest news. as for that news, pretty grim overnight. more bodies were found. including the body of 42-year-old mother, and her daughters, 10 and 4 years old. the death toll stands at 8:00 teen. the rescue effort itself has been put on pause over a piece of the collapsed building didn't actually fall. it is still standing. reports say crews reported that a column moved eight to 10-inches. the cracks on that column were expanding. out of abundance of safety they decided to stop the search-and-rescue effort earlier this morning. here is florida governor ron desantis. >> last night there was issues with the remaining structure. and, our state assets are being provided, to miami-dade in terms of engineering know how so they can look to see what their options are to handle this.

ashley: it is believed because of that safety issue at the actual site the president was not able to get closer than he could out of abundance of safety. the actual rescue effort itself could now stretch by some estimates to the end of august. so at least another eight weeks. there is another worry on the brewing in the background, neil, and that would be tropical storm elsa. it is speeding toward the caribbean as we speak. this area, south florida is the in cone of a potential impact from the storm. the last thing we need here is very strong winds and torrential rain what is already a pretty grim scenario. neil, back to you. neil: just incredible. ashley, thank you very, very much for that. as we've been telling you the last few daves the lawsuits are flying fast and furious right now. we're getting word the state attorney general katherine fernandez rundle, thinking it might be a good idea to impanel

a grand jury for this disaster and other disasters if they're not careful. guy lewis, former u.s. attorney for the southern district of florida. good to have you. we don't know a lot about what caused this yet. the rescue effort still goes on. quite nauert. lawsuits are filed. people are angry, i understand that. this idea of impaneling a grand jury to look into all of this, is it too early for that? should we hold off on that? what are your thoughts? >> so, neil, thanks for having me. this unfortunately reminds me too much of the valujet crash. i was the acting u.s. attorney in south florida in 1996, may, when valujet 592 went into the everglades. 110 souls were lost. and kathy fernandez rundle, the state attorney you mentioned and i worked that case together and

ultimately investigated and returned both state and federal charges against people that were involved in what we described as a negligent homicide. i think here it is not too early. there are federal officials on the ground. the fbi is on the ground. i do know that. osha and other federal investigative officials are on the ground. they need to sift through the rubble. they need to obviously search-and-rescue is primary. but the investigation also needs to continue. neil: so explain the legal process for me then, guy. when you impanel a grand jury, what are they given? what kind of evidence are they given? how does that process go? >> great question, neil. so members of the community will be brought in. they will be sworn and, investigators will be brought in. witnesses will be brought in.

subpoenas may very well be issued by the grand jury requesting documents. things that come to mind, for example, neil, the inspections. how many were done? what was revealed? how, how big, how serious were the problems? unfortunately this isn't the first time buildings have fallen in south florida. 1974, the dea building, the building over on the beach that housed the dea collapsed. this building, was there a duty to follow up? was there a duty to further investigate and take some action? all of these are questions that the investigators need to look at. neil: you know, guy the latest way seems to be going after the condo association here, condo associations in general about what is their liability in the event that disasters like this

happen? in this case the president of the condo association that represented the south tower, the one that fell, from which they're thinking through right now, had, you know, put out a warning to residents that they were looking at a pretty dangerous situation that would require very expensive repairs up to 15 million. that unit owners could be assessed anywhere from 100 to $200,000. it was a big assessment. it was a big warning. but i'm just wondering, if nothing was done to act on that, whose liable? >> well i'm not a fan, neil, of the race to the courthouse to file civil lawsuits. and that sort of leaves a lump in my throat to be perfectly candid with but i am, i do advocate a full investigation. let's figure out who did what. what investigations.

but you're point is so we'll taken. think about it. you live in the building, whether you're on a fixed income or not. you have to struggle with this idea of inspections and multimillion-dollar repairs. and you're trying to figure out, do i stay in the building and pay for and contribute to the repairs? do i listen to the condo president, vacate and maybe, look, in retrospect it is easy. maybe save my life. these are very, very tough decisions here in south florida that we have to deal with, with these buildings that are along the ocean. neil: all right. thank you my friend, very much. guy lewis, former u.s. attorney for the southern district of florida. we'll be monitoring this. monitor an approaching storm that could hamper rescue efforts there. let's go to joe bastardi, weather belt chief

meteorologist. hurricane elsa, the storm is elsa. the fifth named storm of the season. how. of a threat is it to surfside and surrounding area? >> i certainly believe tuesday or wednesday it is a threat to the area, southeast gulf and northern bahamas. that would put florida in the window. it's a bit earlier in the year for the atlantic wave train to be running. development so far in close storms develop out of non-tropical sources. this is a true african wave coming across. what it will do thread the needle between south america and hispaniola. i mean that it will be south of bear bade dose to the tip of hispaniola by the time we get over to the. tip of his pan ol' sunday. south of cube la on monday.

where that turn occurs very tough to say. interactions start taking place down the road but i think tuesday and wednesday florida is very much in the cone. we've already started warning our clients from a couple days ago about this. in fact we, i actually put something out back on the 22nd saying, of june, saying this pattern should produce something, the first week of july, given the overall situation. you're going to notice, folks, it gets cooler in the northeast. a lot of times when you get the big high pressure systems going off the east coast like this, you look down to the south and something's usually down there. the hurricane season. in my opinion we've got a very big impact forecast again on the u.s. coast, not just numbers, but storms hitting our coast again with this overall pattern that we're in that has been setting itself up since the spring. i think this is the first of several big challenges we're going to see down the road. it is coming early from the

african wave train. neil: all right. joe bastardi, thank you for all of that. the weather belt chief meteorologist, joe bastardi. this tropical storm is obviously going to put a dent in recovery efforts, rescue efforts, i should say in surfside. it is already stunted a bit the president's visit to the region. he can't get too close. we'll keep you posted on that. hopefully we'll be talking to the florida lieutenant governor as well on the latest, you know, efforts here to incorporate some more federal help into all of this. the president promised it. today delivered it in florida. we'll have more right now. jason, did you know geico could save you hundreds on car insurance and a whole lot more? cool. so what are you waiting for? mckayla maroney to get your frisbee off the roof? i'll get it. ♪ (upbeat music) ♪ ♪ ♪

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♪. >> i think we've made substantial progress from december of last year. at that time the fomc was expecting 4% real growth in 2021. we're now expecting 7% real growth in 2021, faster than china typically grows. i think we're in much better position than we might have expected six months ago. u.s. economy is really roaring forward here. neil: all right. he is a voting member of the federal reserve open market committee and the st. louis federal reserve president

indicating well, steady as she goes and the economy is rip-roaring away. around the time he was making those remarks we got confirmation the jobless claims were all of 364,000 in the latest week. that represented a new pandemic low. my buddy charles payne, host of "making money," best-selling author has been talking about this for some time and the evidence is coming in fast and furious but you got to wonder too, charles, how the fed balances that, right? they don't like to see things too giddy right? not that we don't have a problem with good economic news but they don't want to look like they're ignoring the inflationary aspects of that. you're not worried about that for the time-being, right? >> i'm in the transitory camp. of course there is no definition of transitory so i think theoretically we're all in it, could go two or three years from now. listen, the federal reserve, jay powell, he wants to keep, stay the course. he does not want to raise rates

until 2024, maybe even much further than that. jay powell wants to keep his job. he wants to be reappointed. jay powell had some sort of epiphany, might have been christmas just couple days after the fourth rate hike in 2018 when the market was cratering. maybe that, he talked in speeches of actually walking to work and seeing homeless people and somehow, maybe it felt like first time he really saw them, wondering what his policies are doing to them. now the flipside of that, many people say these are the policies that make income inequality and opportunities widen. you widen the gap. if you look at this amazing amount of wealth, we've got 21 million millionaires in this country. a lot formed recently, a lot last year. if you're not stock market, if you own assets you got to be richer. fed, dovetailing what they're trying to achieve and it is hard to keep track of it. neil: real quick thought on that though, there is a fear things

go at this pace, inflation stays above a 4% clip, well above the 2% range the fed looked at as a guide line, you mentioned transitory in the beginning, charles, what is transitory? you put up with that rest of this year, maybe next year? what is it? >> i think they put up with it at least through the summer and maybe start to make some decisions in september if there are not signs it will cool off. they will give us a clearer path on so-called tapering which begins with the mortgage-backed securities and maybe 80 billion in treasurys they pay for every year, every month but again, neil, i don't see any significant changes with the federal reserve no matter what the data says, they will find something in the data to stay the course for the most part, even if they have to start tapering sooner rather than later. neil: interesting. stay there, my friend. i want to alert you another story we're following very closely. the government doled out a lot

of aid to a lot of folk during the pandemic. those behind the rent, they got a check. those behind on mortgages, they got leniency. there was the broadway show, "hamilton" it got money too. a lot of money. is this the biggest money maker in broadway history, it is getting aid, pandemic aid? hillary vaughn what is going on here? reporter: hey, neil, a lot of venues had to shutter during the pandemic because of covid restrictions around the country but a lot of them now are getting federal aid to help them open back up. the is the sba has a problem for shuttered venues like theaters and non-profits, $16 billion in federal aid to he them get back on the feet but dollar amounts some are scooping up are in the millions. that is raising eyebrows. $14,000, 14,000 businesses applied to take advantage of the

program, but just over 2300 so far have been awarded any cash from this. $9 million alone went to a movie theater group in calabasas. $4 million went to a non-profit festival of the arts in laguna beach. the iconic hollywood premier spot, chinese theater raked in $6 million. 9 million went to a broadway production company in new york city with productions like "phantom of the opera" and "moulin rouge." "hamilton" got $30 million for three touring productions. the lead producer explained the high dollar amount like this. remember chrysler around gm were about to go bankrupt, in the same way the federal government came in to bail out auto companies it is doing things for showbusinesses with this legislation. "hamilton" spent millions of dollars during a time it earned no income. he said money is not going to

producers, royalties for artists but they say a lot of this million dollar federal aid is going to these groups, a lot of small businesses that even received a few thousands of dollars in ppp loans ultimately had to close because it just wasn't enough to get them through. neil? neil: thank you for that, hillary vaughn. back to my buddy charles payne. "hamilton" was our first treasury secretary if you think about it, charles. he would marvell at ingenuity and inventness. >> none are going to the producers backers, investors why do they need 30 million? the elites took so much advantage of the ppp program and subsequent programs like this. first of all distortion of amount of money gone to broadway plays versus everything else in this country like restaurants is embarrassing. congress should be embarrassed. they should hide their heads in the sand. they love to go to "hamilton." they have let so many

restaurants in general go out of business to save "hamilton." "hamilton" didn't need saving. it makes me angry to be quite frank with you, neil. we know last year there was a report, $670 billion went to richer, wealthier businesses that should not have even gotten ppp money in the first place. there were a lot of problems with this. but it just really worries me when we start to put the elite institutions, somehow equate themselves to the auto industry, an auto industry that employed millions of people across several states, they think they are that important? oh, my goodness. it is sick, really ridiculous. that is where we are. the elites always get their money. neil: someone has a problem with historical place with a rapt passion. maybe that, maybe that is the issue here with you, young man. you raised a very good point. they were the last ones on the list i thought of. you know, i don't know about

"hamilton" but we'll see. all right, thank you, my friend. look forward to seeing you as well at 2:00 p.m. eastern time, hour 1/2 from now. we're also following other developments concerning the trump organization and its highest ranking financial executive, the cfo in the hot seat today. he is really not cooperating. so the charges are flying but he is not singing, at least against his boss. we'll explore and explain next. ♪ we made usaa insurance for members like martin. an air force veteran made of doing what's right, not what's easy. so when a hailstorm hit, usaa reached out before he could even inspect the damage. that's how you do it right. usaa insurance is made just the way martin's family needs it

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some say this is my greatest challenge ever. but i've seen centuries of this. with a companion that powers a digital world, traded with a touch. the gold standard, so to speak ;) ♪. neil: the chief financial officer of the trump organization has surrendered to authorities on criminal charges we are told relate to not reporting or paying taxes on

income that related to perks and other incentives within the trump empire. that there might be other executives who did the same thing. whether that is enough to land him in jail, he is protesting those offenses. he is not singing or trying to do anything to hurt his old boss, present boss, donald trump. charlie gasparino with us. we'll get the details soon on this. we know donald trump is not a part of this but we know the focus is on something, i don't want to call it piddly, but relatively gray area stuff. the perks an benefits you get at a company and whether you declare income and pay taxes on it, that is what is boils down to. >> we'll have to see exactly what they are. i hate to correct you, donald trump is the target here. let's make no mistake about that. cy vance the manhattan district attorney spent three to five

years depending how you counting it trying to build a tax fraud case against donald trump, the trump organization and don, jr. and eric trump who are principally running the show with him. his golf, real estate empire, resort empire. they have been working five years to do that. they produced tons of documents. hundreds of subpoenas. they have a task force. we were first to report that, comprised of pretty smart people in forensic accounting. they still needed mr. weisselberg, cfo to flip in order to bring a case. neil: he has not done that. he hasn't flipped. >> i think the reason why he hasn't flipped that these charges are pretty prosaic. listen i'm for all everybody paying as much taxes, i'm not saying you shouldn't pay taxes but it is pretty common for people to stay at, use, stay in manhattan and use a company room and that is not charged to them.

that is not, they don't pay taxes on that even though it is kind of a payment in kind, right? suits, things of that nature. criminal authorities generally don't go after this. the irs if it audits you will say you owe, x, y and z on these things. you can fight it out with the irs. it is pretty murky the laws on this stuff. there are carveouts on this stuff. that is why people are shaking their head. i spoke with people who are not inclined to be nice to donald trump. these are lawyers over the last 24, 48 hours. they're shaking their heads at this. they can't believe it is this weak tea. obviously we don't know exactly what it is, what is being leaked to us and other news organizations we all got the same sources on this. it seems pretty benign. >> if that was the means, charles, i hate to interrupt you, that was the means you were trying to hook weisselberg and spill the beans on donald trump, this would be a means to an end

to go after donald trump -- >> right, right. neil: -- again that is a bit of an uphill battle. >> right, think about it this way, if you spent five years on a case you should have a document paper trail. i know, because i do reporting based on paper trails that leads to a conclusion. you shipment need the cfo to basically spill the beans. the cfo maybe should be charged theoretically, right? he is part of the sort of the apparatus that created the alleged conspiracy, the crime. that is not what we have here. we have like the cfo being charged on something, you know, kind of like a side issue. i can't imagine that cy vance wasted five years to figure out whether mr. weisselberg got free cars, a new suit and his kids got put through school by donald trump. i don't think that is where he was going with this. it was a side issue. it's a side issue you bring up to squeeze him to cooperate but you use your logic.

if you need him to cooperate, they were maybe you don't, if you are squeezing him to cooperate, maybe you don't have a great case because the documents should show this. you know, and apparently not you would be indicting donald trump right now. the other thing i will say to make this point, neil, watch them try to inplate the case a little bit. prosecutors are known to do this. it is a simple, okay, so it's a perks case. they didn't pay taxes on perks, it is tax fraud. we were talking to john coffey, the great columbia university law professor, usually great on these white-collar issues, he wouldn't be surprised to see a grand larceny charge here to make it compelling and that mr. weisselberg allegedly committed grand larceny in taking these perks and not, and not, you know, counting them as taxes or the trump organization committed grand larceny. you could see something like that happen as well. one thing even though this is weak tea, if it comes out --

unless they have incredible evidence here, we'll have to see in a few hours, coming out at 2:00, this will have impact on donald trump's and eric trump's and don, jr.'s business, once you get indicted, people, you can't, it is hard, you have to put that down on applying for public contracts which they do sometimes. i mean, we are getting to the point now that it is getting to a degree politically malicious against donald trump if you really don't have evidence against him, charging him on counts about perks when you went after a grand tax fraud case is pretty bizarre to say the least. neil: thank you, my friend. no, no, if you're wondering, charlie gasparino, by the way lawyers for weisselberg, that weisselberg intends to plead not guilty, fight the charges in court. as we understand them

weisselberg is the focus of this latest effort, premier effort on the part of this investigation and donald trump is not. to charlie's point that doesn't mean that they are still setting his sights on him. on that we want to go-to guy lewis, the former u.s. attorney southern district of florida back with us. guy, what do you make of making this the case? if it is to be believed that, my immediate reaction, millions of dollars, years in the making this is the best you got on someone who might not have paid taxes on some perks and some benefits? it is sort of bends credulity here but what do you think? >> so, yes, charlie is right, we need to see the evidence but right now looking at everything, neil, it stinks to high heaven. it is selective prosecution. you don't do this. listen prosecution and, and politics just don't mix and that is what it sounds like here. that is what it looks like here.

bet the house allen weisselberg will not take any plea. he is not going to cooperate, the chain against the sons or the father, whether you like donald trump or not, neil, this is not the kind of case that i would bring. the irs is not involved. he has been, not reported very much but weisselberg has been immunized. he has an immunity agreement with the u.s. attorney's office for the southern district of florida when they were investigating cohen, trump's lawyer. so there is some legal issues involved. the charges are mick -- mickey mouse. i don't see too much of this to be perfectly candid with you. neil: i know the president's lawyer said of these lawyers as a target, in my more than 50 years of practice never before have i seen the district attorney's office target a company over employee compensation or fringe benefits.

let me ask you, as great attorney in your own right, i mean, i've seen this come up in cases against ceo's and others as part of a wider case of impropriety but rarely alone. and i'm wondering, what that tells us? >> so you're 100% right. so, neil, if he was taking a plea and cooperating i would cut a deal with him, hey, you testify against the boss and i will let you plea into one of these mickey mouse counts but that is not what's happening here. apparently, apparently, we need to wait and see what it is, apparently this is the best they got. he used the car. he used some of their houses, maybe apartments. he may have got -- and those are the kind of things that people are going to look at and say, wait a second, are they picking out the person and then trying

to find the crime? which is not what you're supposed to do unless, unless, neil, you're al capone. they were i agree with taking the, spitting on the sidewalk approach but i just, i don't think anybody looks at this unless you're super politically, you've got your lenses on politically. i don't think anybody looks at this and says, hey, we need to take a scorched earth, a scorched-earth policy here and take them all out. i have a problem with this. neil: all right. i forgot about al capone. all the things you could get him on, tax evasion, landed him in the slammer which he died. guy lewis, great historical reference my friend. appreciate it. former u.s. attorney in florida. we're following those developments. also following some market news that looks very favorable, except, exempt, if you're traveling this weekend, this extended weekend and you stop at the gas pump, you're dealing with record high prices and

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♪. neil: all right. here is the good news. vacation starting for a lot of americans who want to take a long break. a lot of them leave around this time. they're out through tuesday. not everybody. maybe you're not in that position but a lot of people are but the bad news is that they're going to get some sticker shock if they're driving and they stop by the gas pump because prices at a seven-year high and they keep going higher. patrick dehaan, gas buddy head of petroleum analysis is here. how much higher? >> it will go higher. demand is not stopping with the conclusion of july 4. the national average could go up 10 or 20 cents. if this the mlb game, call it

the 7th inning stretch. we're getting close to the end of increases but we may still see an uphill climb. neil: what is driving it? i understand demand, all of that, but it seems out of whack in different regions of the country. i know where they have very high state and local taxes in places like california i can see that but this is happening everywhere. explain. >> yeah, neil. this is really an imbalance. of course demand has come roaring back. remember a year ago it seemed like many motorists were cheerleading negative oil prices as a result of the drop in oil and demand last year, oil companies really slowed down production. now it is a story that demand has come roaring back but that production is taking its sweet time. of course oil companies made long-term decisions last year, letting go workers, shutting down production. it will take time to bring that all online. meanwhile demand is soaring as the economy has reopened. so that pushed the price of oil up briefly touching $76 a barrel

today for wti, the highest since 2018. that will be feeding into the increase in prices we'll likely continue into the next couple weeks. even into the fall, neil, as america gets back to the work place and schools, we may not see much relief. neil: the hurricane season to come, we're told it will be a busy one. that usually sends prices higher with oil rigs and the rest are shut down temporarily. how do you see that factoring in? >> yeah. absolutely. something to keep an eye on, as we have tropical storm elsa making waves in the tropics right now. that is certainly something that could upset the balance. you know, especially when it comes to oil production. as you mentioned thousands of rigs out in the gulf gulf of me, we could see pricing volatility in august, maybe september. nobody is hoping for a major hurricane. we remember what hurricane harvey did to prices back in 2017.

that becomes a wild card for anyone taking a road trip later in august, is the volatility from the peak of hurricane season. neil: got it. pat, thank you very much, i think. nevertheless always great having your expertise. patrick dehaan, gas buddy head of petroleum analysis. out west this heat wave will not ease a bit. dan springer on the toll it is taking and still could be taking. dan, what's the latest? reporter: neil, the latest the temperatures came down in western washington and western oregon thankfully. on tuesday they moderated. we're past the worst of it by far but each year 700 americans die from extreme heat. this summer is turning out especially deadly with the pacific northwest heat wave, this record-setting heat wave that saw temperatures soar 40 degrees normal this time of year. oregon was hit the hardest.

portland saw temperatures on sunday and monday of 112 and 114 degrees. before this event the previous high was 107. of 63 heat related delts this week ha were in multnomah county which includes portland. most were in their homes found without air-conditioning and fans. this heat wave was accurately predicted days in advance. hundred of cooling stations were set up in oregon and washington. millions of people took advantage of them and all the cool water in the region. most of those who died, were i am possible and had underlying health problems. >> we were aggressive in our outreach. as you know we urged others to check on people they knew, relatives, neighbors, friend. that is what it takes to get people through a heat wave like this. deaths from heat and hospitalizations from meet all preventable by just helping people get to a cool space. reporter: heat records fell all

over washington state as well. seattle hit 108 degrees on monday. at least 13 people lost their lives. they were between 61 and 97 years of age. one victim was found in an overheated car. most were discovered in their homes. seattle is the least air-conditioned metro area in the country with only 44% of the homes equipped. neighbors of an 85-year-old woman who died alone wished they had done something. >> had someone had the foresight to check in early on those two days, earlier, one day, sunday, it would have made all the difference t would have saved her life. i felt it was an unnecessary passing and a true tragedy because it was avoidable completely. reporter: it is not just here in the u.s. up in vancouver they had 130 sudden deaths between friday and monday and neil, that is way above what is normal and most of those deaths are attributed to the heat. one city up there had

121 degrees. that is the hottest it ever has been in canada, ever. neil? neil: remarkable. dan, thank you very, very much, dan springer on all of that. we'll take a quick break. 100th anniversary of the communist party in china. you've heard a lot about that. have you heard what xi xinping said got military tongues wagging? i look forward to a complete unification with taiwan. taiwan's leader said, say that again about the complete reunification? after this. well, geico's 85 years isn't just about time, you know. it means experience. i mean, put it this way. if i told you i'd been jarring raspberry preserves for 85 years, what would you think? (humming) well, at first you'd be like, "that has gotta be some scrumptious jam!" (humming) and then you'd think, "he looks fantastic!

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♪. reporter: welcome back to "cavuto: coast to coast." i'm jackie deangelis. we're watching china. the chinese communist party turns 100. it is a pivotal turning point not just for china but the united states. china's president xi has made no secret to seek economic dominance. president trump tried to counter that with action like tariffs but some issues are still unresolved. human rights crisis with the uyghurs, hong kong, intellectual property and much more. how president biden chooses to

proceed here will be telling. so far we haven't seen much. how about the comments from the chinese president today as the 100 year of the ccp is commemorated? "the washington post" called, that the chinese people have never bullied oppressed people of other countries. at the same time the chinese people will never allow any forerin forces to bully, oppress or enslave us. anyone who dares try to do that will have their heads bashed bloody against a great wall of steel forged by over 1.4 billion chinese people. statements like this that lead you to believe china has become emboldened. president xi was not talking like this a year or two ago. experts such as michael pillsbury who president trump referred to as the leading authority on china agree. listen to this. >> once trump got his bearings, got going on china, he had views about china for 20 years in his own writings, they were trump really began to make a difference that hasn't really

happened with the biden administration. we don't know exactly what they are going to do about china. reporter: what about the origins of covid-19, a pandemic that ripped through the world wreaking havoc on all of us? this administration demand answers from china and push back against its unwillingness to cooperate on a global stage? pillsbury is believes shows china's enormous confidence it can peddle its narrative around the world and wishes that the biden administration was stronger in its message pushing back. and neil, you referred to the quote on taiwan and the reunification. that might be something president xi wants but not something everybody wants. neil: yeah, to put it mildly. thank you, jackie, for that. claudia rosette joins me, independent women's forum, "wall street journal," very smart cookie, prescient one too. claudia, i want to put it this way, i think china is laying the plans for making good on its threats. i don't think these are just you know, random boasts.

i think they're going to do something on taiwan. what i'm curious about how the world will respond when it does? >> i think you're absolutely right, neil. what we're seeing, this celebration is something chilling on a scale that i would compare to the rise of fascism in the 1930s and i think you're absolutely right. he is planning to make good on those threats one way or another. i hope that we will find the backbone and the will and wisdom to deter that, to delay it, deter it, look for any way to make sure that does not happen. my great fear is that if china goes ahead, and i think the time frame is after the olympics in china next february, which should have been canceled by the international olympic committee but have not been. we're going to in some capacity. look to the sochi model with putin. after the sochi olympics he

grabbed crimea. my fear the world will say it is not worth going to war with china over this. the truth is we must stop it. neil: if you think about it, go back to 1936, when germany hosted the olympics we know what it was up to shortly thereafter. there is pattern here. i don't want to alarm people, china is plowing through that pattern. >> yeah. we'll, neil, the big lie, the reason xi xinping needs to move on taiwan to serve his purposes and his party, taiwan shows up the enormous, gaping atrocious lie at the center of these celebrations today where xi xinping is announcing you know the great economic progress and rise of china. the truth is you can have economic progress and freedom. they go very well together. that is exactly what taiwan, chinese democracy shows us. that is what america has shown the world. that is what other places that became more free and wealthy in

asia, south korea. hong kong, a free society. china needs to destroy those to preserve the power of the communist power. they need to show up the lie. that is what is monsterously evil about this. neil: scurry stuff. you were on top of it more than anyone i know of. we'll monitor the situation closely. another hour coming up. latest from florida [sfx]: happy screaming ...

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neil: all right, we told you what a rocking first half it was for stocks, and we're picking up where we left off, deals dominated the scene in the first six months of the year, they continue to do so now, even new offerings, krispy kreme debuting around $16.30 a share versus that ipo price of $17, but it's among many many companies testing the public waters here, and a sign of growing optimism that markets could go still higher after soaring first half, can they? let's get the read from luke lloyd, the strategic wealth partners investment strategist, michelle schneider the market group managing director, last but not least, mike murphy. so, mike, i'll begin with you on how the second half is looking for you. can you hear us, mike?

>> yes, i got you now. you broke up there, can you just repeat that, sorry. neil: yes, are you worried that the market will crash now? my focus is how does the second half look to you? >> i think the second half, neil, is going to be a repeat of the first half, you know, maybe we don't get 15% on the s&p, but the setup right now is for earnings to continue to rise , and if we have strong earnings, that should equate to strong stock prices, so there's a lot of concern out there, you know, whether it be inflation, whether it be race, whether it be the fed, whether it be the biden administration. so many concerns out there for people, but if you focus on what's been working, if you focus on the growth areas, i think you're going to get a very strong second half of the year, somewhere in the 8-12% return on the s&p. neil: wow. you know, michelle, i know markets are we've thrown a lot of worries at them but yet here

we are with stocks advancing and interest rates holding we're well under 1.5% on a 10 year note so what's going on? >> to pick-up on what mike said certainly right now we have the momentum in the favor of stocks continuing to go up, but there are some warning signs there, based on some of those concerns, which is why the wall of worry is like for example, yes, we have the s&p going up and we have the nasdaq going up, but the russel 2000 although going up still hasn't gotten as high as it was in march, when it got to 234. the transportation sector actually has come down a lot. that certainly is showing stress , the financials, especially in the regional banks showing some stress, and even though the semiconductors have gone also rocketing here, they've come off a little bit too, and we're seeing sort of divide in the market which has to reconcile. of course it can reconcile in several ways. it could either be that these

industrial transportation sector s are looking for some more hope for the growth of the labor market beyond back to work once the unemployment benefits go away in september, or it could be that they are sending an early warning with the growth going up. we've seen this before, it goes up, up, up. the rest of the market sits, and then all of a sudden, nasdaq and the growth stocks look around and go whoa and then they start coming off. we don't know that yet, because there's too many varying signals here, with jump-ons good but coming down a little, yields holding but very vulnerable and that inflation narrative, which right now is sitting there on the table, sort of the elephant in the room. neil: you know, luke, last time you were here you were talking about what worries you when the government gets involved sort of prompt things i think we were talking at the time about the federal reserve and of course you could extend that to washington, all of this , you know, spending, so i guess i'm going to flip it around. what if all that stops, the markets have risen through all of that. maybe welcoming it because

stimulus is stimulus. what happens if that's it? if this infrastructure deal is about it, the best hope the administration has to get anything done and a big spending way this whole year. that might be it and maybe that might not happen. how would the markets react? >> yeah, no, i think they are welcoming that right now, because the influx of money from the federal government right now for the spending, that's a good thing for the markets in the short-term. the problem is is in the long term, it's not a good thing, so at the beginning of this year, i talked about how there will be two drivers for 2021. the federal government and the federal reserve. well so far, it's been true. all eyes are on what the current administration is going to do in regards to . tariff policy and spending. and all eyes on the federal reserve of how they will react to the inflation. thankfully in regards to the government, joe manchin has more power than joe biden right now, and is keeping his extreme policies in check but in regards to the fed i still believe the fed is underestimating the impact of inflation so the question is is which asset

classes will perform the best if they hike interest rates too soon. gold stocks, bitcoin bonds, real estate all these asset classes will have knee jerk reaction to the higher interest rates but after the reaction stocks and real estate tend to form the best and i don't think that's any different this time around. neil: mike, a lot of people have been looking at real estate as well, home prices have been soaring, demand for homes is beefing up considerably, and that's generally a constructed environment for stocks as well. do you see that continuing? >> i do, neil, and you know, we need to build more new homes in this country, and so there's demand for new homes, and there's also a demand for existing homes in the right areas, so i think people are willing to pay up, and then even moreso the trickle down effect to that, neil, is as people have their homes or new homes, they are spending money to refurbish their home and improve their home, so i think right now, real estate is in a sweet spot,

because we talked, you and i spoke about this a few years ago that maybe we're just going to be a rental country going forward, the millennials may never want to buy, and that's now been proven wrong. the younger generation do want to buy, so there's a long way to go until all of these people have homes, so you're going to see a demand for housing, that's going to continue, provided, remember, neil this is all predicated on the fact the economy stays strong. if that changes then we have to relook at this , but right now, strong economy, strong housing, and i think that has a long way to go. neil: there's the other issue though that could dampen this strong economy and that is finding workers to keep it going that's been a devil of a problem we'll get into that in a second, michelle. does it give you pause? >> well yes, i think you just touched, neil, on exactly what my biggest concern is is the labor market. one is where are new jobs going to come from once we get back to

work and everything is reopened and number two is it's already adding to the inflationary environment because, for example , one of the reasons why not the only reason, but one of the reasons why gas prices are so high is they can't find truck drivers to deliver the gas to the stations, and so this labor issue is not only not great for the economy in general, but it fuels those fires of inflation, and as far as inflation goes, people are calling this inflation, people who have not been around for as long as i have, for example, don't really know what inflation looks like yet, and i think that's what we're seeing coming potentially as we go into the end of this year and next year. neil: don't get me started on the young and the restless not knowing because i'll start sharing what my wife and i first paid on a mortgage when it was in the mid-teens. >> i don't want to hear it. neil: no, i know. i don't want to hear it, my wife doesn't want to hear it. luke are you worried about inflation?

>> yeah, yeah, absolutely. i think the federal reserve right now is absolutely underestimating inflation, but the thing is like interest rates rise, gold commodities and stock s tend to sell-off. this is going to sound kind of crazy since very few people talk about it, but the best inflation hedge after the knee jerk reaction for higher interest rates like i mentioned is stocks and real estate, but specifically, it's actually technology stocks. if you look to the past, tech stocks perform the best in high inflationary environments. well, why is that? it's because during periods of high inflation, input cot rising is one of the major drivers of inflation, which sector is the most asset-light? technology is. think about software. there's nothing physical to it, so many tech stocks have pricing power in high margins which allows them to be flexible and whether the storms during periods of high inflation so regard to the stock market, if there's capital, i'm not that worried but for the middle class and those that don't own stocks and real assets it's really going to hurt the pocket and that's where you'll see the pain neil: all right, luke final word on that, michelle, thank you.

mike, thank you very much, sorry for the audio problems there, mike. in the meantime we were talking about labor pressures building, of course it hit the hotel industry as well on the same day of a big one is opening in new york city. we'll talk to the guy who runs margaritaville, the ceo in a second but first to lydia hu on who how tells are feeling that labor pinch, lidia? reporter: hey, neil, we are at the hotel in the meat packing district in the city and they say tourism is coming back and they are really feeling the pinch. they need about 50 more people on their team to help them in their front of house and the lobby and also, in their restaurant and dining department it's hard for them to keep their bar staffed at all times and they say sometimes they want to opal sections of the restaurant, and fill all of the tables and they aren't able to do that because they don't have the adequate staffing available. there's a group called "hotel effectiveness" and they estimate there are about a half a million hotel jobs that are open and available right now, ready to be

filled. the manager tells us that he hopes that when the boosted stimulus benefits end for unemployment, that people will come back to working in the hotels. >> a lot of long hours, and the staff that we do have are working, you know, overtime. my hope, obviously, is when the stimulus ends, we will see a surge of people looking for work reporter: there's also a concern growing nationwide that perhaps the folks that want to work in the hotels, they've moved on to other industries, maybe they just aren't coming back and that's why you see some national groups like the american hotel and lodging association working on large-scale campaigns that they say will help recruit the next generation of hotel workers, convince them that hospitality is a great industry to invest in for a career. back to you, neil. neil: thank you for that, lidia, very much. we've got john carla with us

right now fascinating guest and margaritaville holdings is his company and they are opening a big old hotel in the middle of times square officially today and he was kind enough to share that big moment. john very good to have you back. how are things looking for the big debut? >> things are great. we've actually opened all of the restaurants, probably will open the rooms officially on monday, but the restaurants have been open for sometime, and people in new york are welcoming margaritaville and having a lot of fun, and we're all having a lot of fun serving them. neil: yeah, i like how you recruited recently jimmy buffet himself to kick things off and i'm just wondering what kind of crowd will go to this hotel? it's very unique. it stands out in a city that has a lot to stand out but explains what makes it alluring. >> sure i think it's typical of the people who are customers nationwide and internationally. certainly tourists who come to

town. new york city has always been a great tourist destination, but i think when you combine the opportunity to have a vacation at margaritaville, with being able to see all of the great sights in town, that will certainly be a very significant draw for tourists from all over who come but as well, fun isn't something that is restricted to tourists who are traveling, so i grew up in the city and people in new york do like to have a lot of fun. the spaces are terrific. i think we'll get a lot of happy hour business from times square which as you know in the last seven or eight years has now become a hub for many big companies, and we do bars very well, and we're hoping that it'll be a good adjustment process for people who are coming back to work to be able to gather, socialize, and have some fun after work. neil: you know, this comes at a

time when crime has been an issue in the new york metropolitan area. sometimes these incidents are more anecdotally shocking than anything else. does that concern you, those who book times square is actually quite large so it's not, you know, as if this is hitting every major street at 7th and broadway, in the mid 40s to the high 30s, what do you tell potential customers? >> look, i mean, that's clearly a concern, but we are very security-conscience as the other businesses in time square but quite honestly, so far it has not been an issue. the advanced bookings have been great. the big question people have is, you know, when is the pool going to be open which is just a function of getting that pool inspected, and as soon as it is, i really think everyone's ready to dive in. neil: as far as bookings, advanced bookings, how have they been looking? >> very very strong.

both from the standpoint of visitors to new york and as i said before, local businesses planning all types of functions. we've been very very encouraged by the level of activity and the restaurants that opened about a week ago have been doing great business, really from lunch through late night, so it's all very positive so far. neil: yeah, the pool thing is cool, but i think the coolest thing is the statue of liberty holding a margarita and that's the final touch. >> it is. neil: i wish you well, new york needs to see that. i think this whole country needs to see everyone getting back and having fun. i wish you well, the margaritaville ceo john cohl an. we'll be following that very closely and also following something that i'm sure the cfo of the trump organization isn't celebrating, but he is fighting it. the charges that are about to come down, that some say could affect donald trump, but so far, have not and even in this case,

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neil: all right, donald trump and his trump organization, the cfo, alan weiselberg surrendered to authorities on new york of charges of avoiding taxes and not reporting income derived on perks and benefits. eric shawn has been following this very closely, obviously, the whole country has been looking at this to see if it goes beyond the cfo, but what have you learned, eric, what's going on there now? reporter: yeah, we expect this court hearing to begin in just about an hour and a half from now, neil, of tax crimes, be launched against the trump organization and his chief financial officer, alan weiselberg, he surrendered to the district attorney's office earlier this morning after 6:00 a.m. he is considered former president trump's most trusted business advisor and he could face charges of not reporting those taxable benefits, his lawyer says he will plead not guilty and fight the case. weiselberg is 73 years old and he served the trump family for

nearly five decades and allegedly evaded taxes on corporate benefits, from a luxury trump building apartment to a mercedes and even a 55,000 dollars a year private school tuition for his grandchildren. the charges are seen as the first step by prosecutors to try and force him to flip, and cooperate with prosecutors who are probing the trump empire the former president slammed what he called the "radical left prosecutors" saying,"they will do anything to stop the maga movement and me even if it involves misconduct and harassment of a political opponent which they are using at ever had els rarely seen before ." having politically motivated prosecutors people actually got elected because they will get donald trump is a very dangerous thing for our country. the indictment against the company may also prompt banks and lenders to pull their financing amid allegations the company also committed bank and tax fraud by partially

inflating and then deflating property values to get a better tax benefit from them. weiselberg is expected to be granted bail and walk out of the courthouse, if he's eventually convicted, he could face up to one year in prison, and is also seen as perhaps one of the first of many other trump employees who are coming under the crosshairs of prosecutors here in new york. neil? neil: all right, eric shawn, thank you. we'll be going back as soon as the case unfolds and of course it will in about an hour and a half. in the meantime we're following another development where a judge, you might have heard, has slapped down britney spears' request to remove her father as control of her conservatorship so that continues. christine coalman has more on the fallout from all of this. reporter: hi, neil. britney spears attorney actually made this specific request to have her dad removed from the conservatorship last november but the new court documents filed yesterday show the judge's ruling. the documents state the court found britney spears substantially unable to manage

her financial resources, or to resist fraud or undue influence now, this comes a week after the pop stars explosive testimony where she slammed the conservatorship and her father, said "my dad and anyone involved in this conservatorship and my management who played a key role in punishing me, they should be in jail." britney also said she was forced to involuntary medical evaluations, rehab and medical and was forced to be on birth control even though she wanted to have another baby. britney's father, jamie speers, who was co-conservator of her estate and manages her finances denies britney's allegations. he is now asking the court to investigate britney's claims and any possible role jodie montgomery may have to play in his daughter's personal affairs. jodie montgomery is conservator of britney's person meaning she manages her medical and personal well-being and she also denies britney's claims. a number of legal experts say a thorough investigation is needed

to get to the bottom of all of this. >> i believe that britney spears conservatorship has been a categorical circus. how can jodie montgomery be the personal conservator when she's bickering with jamie speer s publicly across the country. i mean, this is completely ill- logical and is shocking. reporter: also, this whole ordeal is leaving many britney fans and legal experts questioning her court-appointed attorney and the legal guidance she's been getting. britney has yet to file a petition to terminate her conservatorship even though she says she's wanted it to end for years. neil? neil: i'm just curious, christina, why she never did file to end the conservatorship. why are we at this point now? >> yeah, it's a good question, you know, she mentioned that she didn't know that she could do so , so that is raising a lot of concerns, how come you had this attorney, how come you were

unaware that there was a legal way for you to end this , if you hated it so much so that's something that a lot of people are asking about now and hopefully we can get some answers to soon, there's going to be more court hearings on this and we'll have to see how these legal proceedings play out neil? neil: yeah, she might want to talk to her own lawyer about that, great reporting christina coleman, thank you very very much. we'll have john pavio with us, professor, constitutional expert love having john on because now i'm going to challenge him with two different huge stories, right? the trump organization story and of course britney spears and which one do you think i'll start out with? well naturally britney spears. so, john, that's what's curious to me. if she wanted to end this conservatorship or her lawyer, you know, was picking her brain and said all right you don't like this conservatorship, well why not file the paperwork to get that going? >> yeah, well number one, that is the question here and it's

the same question, i think, you don't have to be a lawyer to ask that question. it doesn't make any sense. there could be a variety of reasons, neil, but one of them could be she maybe is not equipped to manage her own affairs, her own person. this is one of those cases where i know it's getting a lot of press but there's probably so much we don't know about this case, and that always happens in any kind of family case, conservatorship cases, so i just don't know the answer to the question, but it's the right question to be asking neil: you know, john, just curious, how common are these type of arrangements, conservatorship arrangements, period? she's not a young pop star any more. she's approaching 40 years old. how do they sustain themselves this long? >> yeah, so conservatorship arrangements like this are not unusual, right? but you usually see it in the case of minors, someone who has a mental illness, and have

you seen a situation where you have a celebrity known all over the world who has been or the father has been appointed as the conservator, it's not that often, and so the very last comment that was made in that camp where you've got to do, unless there's something that's just a bright sign here as to why this has been going on you need a thorough investigation because a lot of it just doesn't make sense but that being said i know the judge here has gotten a lot of criticism reading yesterday. i'll go back to, this is probably a lot that we just don't know that the judge does know in that file, so i don't want to, i'm not in that camp of criticizing the judge yet because there's a ton that has not seen the light of day. neil: john, once again, your thoughts on the trump organization, at this moment in court today, and i was thinking to myself, you're the legal

expert, i'm not but i thought years and millions of dollars to get us to this point where the charges, at least what we're led to believe, are focused on not declaring or paying taxes on benefits and perks, and that's it and my immediate reaction was i'm not minimizing that, or there were times that was perfectly legal to do. i don't know what period this covers but is this signaling the best that cy vance and others can get to? >> it could, but let me just go back. you, me, and charlie gasparino were on your show over a year ago i think and we both said, actually, the tax investigation is the president's biggest threat, because it involves things where there's not going to be any executive privilege, but these claims don't go away, they don't die, and he's got lots of exposure so i always felt this was the biggest threat to him, and i know, so charlie and i agreed on that, where i

heard his comments previously, and i've heard others say this is all they've got on him? this is the tenth guy to get indicted in this and these are the charges which we don't know the exact charges yet, at least i haven't seen them, and this is really the first domino to fall and a lot of prosecutors , especially a guy like mark pomerance, former federal prosecutor brought over by cy vance, he knows how to prosecute these cases and the other school of thought is he doesn't want to show his hands too early, so i don't know what this means, but could it mean that all this investigation this is all they've got? i'm not buying it yet. i actually think this is the first, i happen to think that there's many more indictments coming, and i don't necessarily disagree with the school of thought that why show your hand so early there, just build the case and build that pyramid all leading to

donald trump. neil: so this could be elaborate like where people assume that's the best you got and they might be getting a little too ahead of themselves. >> yeah, maybe pomerance saying we don't need to hit him with everything right now. we've got plenty and this is what we start with. again, charlie, you could be right in saying after five years often investigation they have seen a lot of things considered income under the tax code and they didn't claim it properly so that could be true but i'm not willing to go there yet. i think if i had to bet this is the first of several indictments neil: well i'll defer to your expertise. john you should stick with this legal thing it seems to be working out. please continue doing so. john pavia. thank you, my friend. we'll get a read on this again, in 60 or 90 minutes from new york. in the meantime, if you've been trying to buy a car lately, good luck, because you're going to

have to fight for it. people are paying above sticker price just to get one. why is that?

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neil: all right, you think its been tough buying a home, you should see the hassle just to try to get a car. forget about if it's the car you want even if it's out there, you're going to have some competition. more and more people are paying above the sticker price to get a model almost any model they can get their hands-on. lauren fix, the car expert, the expert on this stuff lauren what's going on here? >> well, supply and demand, economics 101. there's a chip shortage and a rubber shortage, so manufactures are producing as quick as they can, and consumers have a high demand, they've got their leases that are due, they decide do you know what? we should get our own vehicle we live in the big city we're moving out and a lot people moved out and they want vehicles so the demand is high. even in used cars we're talking

about an average of almost 20% higher some as high as 40% higher than what the book value is and this is a time to sell a used car, not a time to buy. neil: so is it hitting a lot of miles or some more prone to this up-tick in prices than others? what can you tell us? >> well certain models for sure , ford broncos super-high demand they just got released i drove it last week and reviewed it and it's going to have a huge demand there's seven different models and all these different dominion combinations so there's a big demand for that so the dealers put what's on a large demand vehicle like a mercedes s class or maybe a volkswagen id-4 if looking at an electric vehicle they can do this called adm, it's a dealer markup, they will put it right on the window sticker and you may not realize it so if you are going to look at a vehicle on an evening and you don't want the sales person out there talking to you, you'll see a little sticker on there that says adm. that is a dealer markup. that's nothing more than that.

neil: i'm just curious, i know a lot of this started originally with the chip shortage. a few cars affected production, i get that and then back to your supreme court play and demand argument but it seems to be way beyond that. >> oh, absolutely. there's huge demand and if you look at for example, ford right now is shutting down a couple of their lines as huge demand not just for their broncos but for their f-150. general motors trying to produce product as quick as they can so they focus their chip manufacturing on the vehicles that they are going to get the highest profit margin and the biggest demand, so all their vehicles as they slowly come off the production line, or maybe are stopped is going to cause people to maybe want that vehicle like a genesis gv 80 maybe they want one and can't get one the dealers that have them on the lot know that and they charge you a premium because they know once that vehicle leaves they aren't getting another one to replace it, and that maybe a while. i'm thinking it's going to be about three months, but it's a great time to sell a used vehicle but certainly not a

great time to buy. neil: got it. all right, lauren, thank you, i think. you know, if you're thinking about this and saying well, maybe i'll just go back to my pool and just sort of slash through, it'll be okay and you think well wait a minute i don't have a pool, maybe i want one. well good luck getting one because they're in big demand too, and short supply, jeff flock following all of that from homer glenn, illinois. what's going on here, jeff? reporter: i can top my good friend lauren and shortage of cars, at least you can get a car if you want one and pools and hot tubs, by the way too, is a beauty right there, but there's typically this whole place is packed with hot tubs. you can't even, it's a couple there you can get. pool equipment is short, as well neil that's a pool filter, if you got a pool maybe you know what these things look like it's a pool heater there shortage of those , pool pump, you can get them, but a, the prices are higher and b, you sometimes can't even get what you want,

right? there's a lot of constraints on the equipment that we're receiving as well. reporter: if i come to you today and say i want a pool for neil cavuto, he wants to put a pool in his mansion, when does he get it? even if he's got a pile of money >> right now, spring of next year is when you'd get it. reporter: nothing until spring of next year. >> nothing until spring. we used to be able to get them in towards the fall but right now we're that backed up. reporter: show me something else and this is the other thing neil , almost i hate to use that perfect storm analogy but there's so many factors from the pandemic to the increased demand, to a chlorine shortage. look here, have we got that little, we lost that little tab. well if you know what a little tabs of chlorine look like they are in these boxes or these buckets here, you're not even selling these. you are rationing those correct? >> correct we're limiting them to one 25-pound container per customer. reporter: was it a fire at a plant? >> at a plant in texas. yes.

reporter: that makes a ton of chlorine and if you look, spin around there maybe you'll see due to the shortage, we are limiting so people come in and you can't even get it. >> we're literally limiting what customers can buy right now , so we have them for the rest. reporter: before we get away last thing pvc, a lot of pool parts and pipes and all that sort of thing made out of pvc, and that's got chlorine in it too. >> yes it does. reporter: that's a problem. >> it's adding to the chlorine issue yes. reporter: neil this maybe a first world problem you can't get your pool when you want it, but you know, there's a lot of people in this industry also that would like to work and sell things and all that sort of thing, and all that's not going too well right now. neil: i usually tell people that i know in the pool business, i know jeff flock, and they put me right to the front of the line. it's a line that forms for next year, but they put me right to the front. jeff, that's great. reporter: yes it's very good.

neil: big splash with that story , my friend, thank you. all right, i'm done. i just thought that -- >> you're all wet, cavuto. neil: there you go, darn it you beat me again. we've got a lot more coming up the dow racing ahead not under water at all, after this. with voltaren arthritis pain gel my husband's got his moves back. an alternative to pain pills voltaren is the first full prescription strength gel for powerful arthritis pain relief... voltaren the joy of movement

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neil: all right, in florida they have the president in town and a storm and not too far off the shore, felon keating following the developments in surfside, florida with the very latest. hey, phil. reporter: hey there, neil. yes, that storm has now developed overnight, into a tropical storm, named elsa. talk about bad timing for the search and rescue operation here. also, for the president's visit, because he's being overshadowed here today, because at the pile of rubble, overnight, right on the other side of that brown tower you see there, work stopped, froze, at 2:00 this morning, all because of that brown tower.

that's what's left of the surfside condo building that did collapse. all week long, they have been concerned that the remaining structure might also fall down, and overnight, they decided the danger to the crews is just too great. >> the concern includes six to 12 inches of movement in a large column hanging from the structure that could cause damage to the support columns in the sub terrain garage area. reporter: the president and first lady received a command briefing this morning and also they then met with first responders, search and rescue teams the people considered the heros here and consoling as best he can, and the first lady, which is happening now, with the family members of those 145 residents who remain unaccounted. the president pledging also to tap into federal funds to pay for the 30 days, first 30 days of this catastrophe.

>> we understand what we do now is hard. i just want to say thank you. thank you, thank you, thank you, thank you. reporter: 18 people now confirm ed dead, pulled out of the rubble and two discovered yesterday were young sisters, a 10-year-old and a four-year-old, their parents also died in the building collapse. more search and rescue teams are coming from ohio, indiana, pennsylvania, and new jersey, and that's to have more boots on the ground as tropical storm els a could hit south florida early next week. today is day eight of this search for survivors, and exactly one week to the day since half of surfside's 12 story champlain towers south pancaked down to the ground. in a federal structural investigation team flew in from washington they are now on site just as they did at the world trade center in new york after

9/11. neil? neil: phil keating thank you very very much and we were to have lt. governor of florida on this show because of the security arrangements and the issues now at the tragedy and the site, she will join us tomorrow. we'll have more, after this.

neil: all right, a message from uncle sam, you don't pay, well you're going to pay. beefing up enforcement to make sure those who are dodging the tax man do not. edward lawrence has more on all of this , edward? reporter: one of the priorities of the biden administration to collect more taxes. now is digging deeper into some of the moves the administration is making i found out that action is already starting to happen. the irs has started to higher revenue officers, and this is beyond the retirement that they have to have in the replacements for those officers as well as hiring some support staff. it's also announced here that the formation of two new divisions within the irs the office of fraud enforcement and the office of promote urine vest it equation. the they started operation under the biden administration and what it does do is goes after people or companies promoting schemes to get around taxes and for example, i was told from a source that very wealthy people

setup self-companies on a state and those pay out to get around the gift tax and there's a big push starting to end that practice and president biden budget gives the irs a big boost and so would the american families plan with about $80 billion over 10 years, this is the way the advisors to the president justify this increased enforcement. >> republicans and democrats together seem to have agreed on this notion of improving tax, making sure the families above 400,000 are paying the taxes that they owe, and that by funding the irs, not allowing for that kind of high end tax evasion. i think both sides and everybody else should agree that's fairness in action. reporter: senator ted cruz is among five other republican senators who are concerned the biden administration is weaponizing the irs. the biden administration announced priorities going forward to collect $700 billion over 10 years of taxes for people trying to evade those

taxes. now, internally the irs is prioritizing enforcement for high income individuals setting procedures to enforce tax collection on cryptocurrency also, going after micro captives those are those schemes that i talked about earlier. the bottom line is, neil, we'll see a more active irs under the biden administration. back to you. neil: edward thank you very much kelly jane torrence on as of this , great write en, kelly jane, you force the enforcement and beef up the irs budget is the kind of stuff that you see the administration claims they can get a lot of money that way and it'll go a long way i think in infrastructure to raising about $100 billion. is that doable? >> you know it's a good question, neil. as edward mentioned it's going to cost 80 billion to beef up the enforcement and that's a lot of money. are they going to make twice as much as that back? it's hard to say. i don't know how many places are

managing to dodge their taxes, but i do know that most people that they are thinking of targeting are high earners will have other people do their taxes and these are professionals who know the law, and know what so-called loopholes might be. they are called loopholes thu they are legal. there's very legal ways as we know for people to reduce their taxes, so i'm a little skeptical that they are going to know as much as they say they will but they are desperate for money the biden administration is really desperate for money because it wants to spend really more than any president that since world war ii it's really amazing how ambitious biden is but he hasn't figured out yet how to pay for those things. neil: they are very creative ways of coming up to get money not so much spending money but i guess that's where we are. >> yeah, i mean, looking at some of the things biden wants to spend on, 400 billion for home healthcare workers and that's really to increase the ranks of unionized people,

which then increases the funds that unions have to spend donat ing to democrats, and of course, the vast majority of union money does go to democrats , so it's quite an interesting scheme, i think, that biden has going on here, but do the american people want to pay for it? i don't think so. we had a roaring economy right before the pandemic and it certainly is not coming back the way it was. we're getting huge inflation and americans are still on unemployment. neil: got it. all right, kelly jane, thank you very very much, markets are worried about this , they have a funny way of showing it they're up right now starting the second half as they left the first half , up. [sfx]: baby crying [sfx]: foot strikes ball [teacher, in asl]: “two whales swimming together..." [sfx]: whale sounds

. . [sfx]: happy screaming [music ends] limu emu... and doug. so then i said to him, you oughta customize your car insurance with liberty mutual, so you only pay for what you need. oh um, doug can we talk about something other than work, it's the weekend. yeah, yeah.

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neil: all right. well that's it. many times we are starting the second half on the same way we left the first one up. where are we going? here's charles. charles: neil, you can feel the tension in the air, you can feel it. thank you very much. i'm charles payne. this is making money. breaking now, you heard them all before, we'll talk about some of them, wall street axioms that actually work. we'll use nvidia, kanye west and oil stocks to explain how. get ready to learn and earn. plus is there a new 800-pound gorilla in the ev space? china's nio bullying tesla in