cheat? lauren: i guess randomly and got it right. stuart: did you see this could teleprompter? lauren: i knew it wasn't italy or spain. stuart: what about you, ashley? ashley: about it was italy going back to the romans. i guess it goes back to the vikings. i don't know. stuart: it has been a great week. thanks for being here, see you all again next week, right now my time is up but neil, it is yours. neil: we are getting new details on the $3 trillion package the democrats are putting up, the infrastructure package that will include or try to include more money not only for kindergarten education but pre-k education and a good chunk going to free community college education. they've not ironed out the

numbers but this comes at the same time chuck schumer says all of that will put up for a vote as soon as next wednesday. separately we are hearing the roughly $1 trillion infrastructure infrastructure only package is getting mired down in details. we always say that is the risk over the battle to fund the irs and get more funds tucked into it. that will invariably increase the size of it. republicans don't like the idea of it. i relate it to show the 1-2 punch washington could be launching as soon as next week. one that calls for more planned spending within that $3 trillion package or at least focus on things that were a lot more than were originally discussed. we don't know exactly what is being sorted out here. i want to get reaction from the former investment banker, the war on small business, we have

liz peek, fox news contributor. on these developed everything hits the proverbial fan next week, the devil is always in the details but this looks like a lot of spending one way or the other. may be more than we thought and on things we didn't think, what do you think? >> anytime we have more central planning and more spending from the government is a bad thing and some of the details, spending on education, putting people into the pipeline to be indoctrinated about how bad capitalism is, this is a very -- we had a huge massive wealth transfer from main street to wall street, we have a lot of wealth creation opportunities in this country being tempted down for the average americans

so when we see more spending, more conditioning for people going on the government dole, more of the rhetoric that the government is going to take care of you it is really frightening, best case scenario to look like france and worst-case like venezuela or cuba. stuart: another aspect of this is how the market reacts and generally more affected by how long the inflation thing goes on, we will get to that in a second but just taken as a given that spending keeps going, adding stimulus to the economy that might not like the deficit to the debt and all that but does keep things going. but is that your view of how the markets are viewing this. not fans of this but not going to walk away from it because it keeps the economic wheels turning. >> a lot of it is what you

said, in the details. how are we going to spend for all these programs or afford these programs? are we talking about huge tax hikes next week when they get into the details, that is what the market is focused on. at this point i think you are right, we've become accustomed to one program after another which is inflating the economy, inflating earnings and the stock market. until that, appears to be really doing damage to company earnings. i don't think it will affect stock prices very much but this isn't good. we can't afford it and it is really propelling inflation forward in a very serious way and investors of got to start looking at that but until jay powell takes it seriously investors won't taken seriously so right now the focus is on second-quarter earnings which are huge and that is what is

driving stocks neil: joe manchin supposedly moderate likes what he's hearing on this $3.6 trillion package. that is important because this goes on party votes, it could just sort of week in there. that is $3.6 trillion package, you can make that argument with the bipartisan support it has, the infrastructure only package gets through, whatever people's views on either or both that is a lot of money, a lot of money. >> as liz was alluding to, part of this is how the fed gets painted into a corner because it really seems like they have switched from their dual mandate to the secret mandate which is not only propping up wall street but enabling extra government spending.

we are monetizing our debt at this time to the extent that we can't afford this. there will be some limitations on how much they will raise taxes. they are going to expect the fed to be standing by and being willing buyers for the debt and that is going to continue to paint them into a corner and put them behind the 8 ball in terms of raising interest rates which is a dangerous situation we are playing with. >> someone higher up in washington has given a timeline to how long this inflation sticks around. janet yellen, the treasury secretary, former fed chair think she thinks we may be several more months of this. i think that it goes without the specifics what jerome powell is saying, transitory and all that stuff. where are you on this, whether it is just a few months.

>> companies are telling us otherwise, people are talking about how their cost structure is changing, they are having to raise prices to pass all these costs along to consumers, there are embedded things like social security payments probably going to go up 6.one% because of what has happened with the consumer price index, that's how you begin to get these price increases embedded in more programs and spending and wage hikes. i think we are seeing is that right now, jay powell is on the wrong side of this. every day we get data which shows the economy stronger than the experts anticipate. look at today's retail sales number. literally every month, every week we see that the economy is more robust than people like jay powell are anticipating so why do we have all this relief money, stimulus, we don't need

it and can't afford it and i really think people have got to start paying attention. all government spending is closing in on 48% of gdp. that is unproductive, inefficient spent against sweden is something like 52%, that's not far off, this is not good for our country and it is all about a power play for democrats. it is not about the economy. neil: it might be a power play for jerome powell. he knows a lot of stuff liz is speaking and you've been outlining but he wants to be reappointed at odds are pretty good that he will be but -- >> absolutely. it is sort of ludicrous because if you look at their own projections he has been wrong over and over again, they were projecting one.6% for 2021 in the middle of last year, they raised that by the end of the years one.8% but now it is double what they said. and north of 6% so by his own

projection we know that he is wrong but he is that good ally of wall street, that good ally of the government, enabling the bad behavior and he's going to continue to do that for as long as they let him and don't rain in the fed. stuart: i want to thank you guys. you can see the dow is down 59 points, looks like a fairly soft week for the major averages but they are not far from record territory. we are monitoring that and what is going on in cuba. the big news in washington, what the president has to say about what is happening in cuba yesterday calling a failed state, communism a failed system. first time he is spoken so strongly about what is going on. phil keating in little havana, how that is going down with cuban supporters and exiles as well.

>> president biden speaking out at length about cuba calling a failed state and communism does not work, nor does socialism but he's also receiving criticism from some of the more socialist democrats like black lives latter movement and representative alexandria ocasio cortez criticizing biden for defending keeping the american trade embargo against cuba in place demanding that would help the cuban people more if that was removed. communications on the communist island remains body, the government's way of controlling the information flow but president biden said the administration is exploring ways to provide internet access that is blackout proof for the cuban people to have access. hundreds of miami cuban-americans in the miami area again thursday marching and waving cuban flags, demanding change in cuba.

meanwhile in cuba new images coming out showing the government's response to sunday's largest antigovernment protest in decades, hundreds of reporter rest of been made, many of them rough and bloodied. the internet access to social media appears to be slowly coming back according to data analysts, cuba's president continues blaming the us and american social media influence for the recent social unrest and insists he's not going anywhere. he said, quote, we will defend the revolution until the end. it is a conviction. florida's cuban-americans senator marco rubio issued senate resolution 303 in support of those who took to the island demanding change to end chronic food, medicine and covid vaccine shortages. widespread poverty and economic misery. >> it literally started because people are fed up and took to the streets in one city, it got on social media and then in over 50 cities, that is unprecedented. >> florida's republican governor is urging cuba's

communist enforces to defend their people, not the regime. >> the best role for the military the cuban military to realize time is up. you can't keep doing the bidding of a repressive dictatorship. >> reporter: in a rare admission by the communist cuban authorities they are acknowledging they are partly to blame for the unrest and conditions on the island that led to those demonstrations on sunday and making a bit of a change. they are removing the duty tax that for years has been imposed on anybody bringing in food and medicine. that tax will now be gone. neil: the read on all this with mike gonzalez, senior fellow of the heritage foundation. don't know where this goes. we are trying to get guidelines

from washington as to whether or not those in florida consent food and supplies to cuba, mixed signals from cuba how they will react. if those supply boats go ahead and say we are going anyway what will they encounter? >> the lifting of the limits of food and taxes on food and supplies being sent in will show you that the real embargo on the cuban people is imposed by the cuban government. what the us government needs to do is several things, what is make sure that the cuban government, communist government is not a to shut off the internet. we can do this. we have the ability to do this. i understand the state department is pushing back because they are saying this will be considered an act of war. they should not be listened to. biden should take that step. also for have a knapsack do not

lift the sanctions that donald trump put in place. neil: let me ask about those sanctions and embargoes in general. alexandria ocasio cortez said we are really to blame for the plate of the cuban people because of our embargoes in such sanctions have hurt them. not the powers that be who can get anything they want whenever they want but the average man and woman on the street. what did you make of that argument? >> i saw her statement, what i asked her was i understand she speaks spanish, she must understand spanish, has she heard a single cuban demonstrator say anything about the embargo or the sanctions? i have been listening to the cuban demonstrators, they are calling for liberty, they are calling for end to communism

the calling for the castro family to go. most of ocasio cortez's statement was devoted to blaming her own government, her own people for this. stop blaming our own government for this. this is the fault of cuban communists. we should note the democratic socialists of america to whom she belongs came out with a statement supporting the cuban communist party, not the people of cuba. neil: where does this go? how does it end? >> it does not end well for the cuban people and less the cuban army and the cuban police stop shooting on their own people. they have to take the side of their people, refuse to drag people out of their homes one by one as they are doing, beating them up and throwing them in dungeons. the cuban military should understand its loyalty lies with the cuban people, not with the castro family and a little elite that controls everything in cuba.

neil: please stick around. we will need your expertise in the next few days and weeks. the dow down 57 points. a lot of people, the corporate push is on, jeff bezos's turn next weekend and if things go as planned, he will not only be the richest person ever to go into space but with him will be the oldest person ever to go into space and we found out this young man, 18 years old, the youngest to go into space. ♪♪ ♪ limu emu & doug ♪ oh! are you using liberty mutual's coverage customizer tool? sorry? well, since you asked. it finds discounts and policy recommendations,

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>> you don't hear this very often. remember the guy who paid $25 million to go on jeff bezos's rocket to the stars, he canceled his plans, said the calendar conflict. i kid you not. i realize i have a conflict, can't make it to space this time, they are saving it for a future flight but in his place will be any teen-year-old, oliver damon. on that flight if all goes as

planned, you will have 18-year-old oliver, 82-year-old mary alice, one of the mercury 13 women, didn't get women much of a shot at space travel in those days but she's getting her shot next week and so oldest person, youngest person, richest person on the same flight. let's get the read right now on all of this with doctor leroy chow, former iss commander on the international space station, great to have you. what you think of all this? >> very interesting mix as you pointed out. we will have jeff bezos, the richest man on the planet and his brother and the youngest person to fly in space it 18 and the oldest at 82, pretty good mix for pr i suppose. >> this guy is anonymous, the

$28 million he put up for an 11 or 12 minute joyride, i don't want to trivialize it, it is a big deal but how do you have a scheduling conflict? going into space but i have a damn dentist appointment, what the heck? >> that caught me by surprise, hard to imagine anyone at nasa saying i can't go to the shuttle now because i got a conflict here so certainly it sounds a little bit odd especially if you're putting up $28 million, maybe this fellow had second thoughts or something, i don't know. >> i'm thinking of you, here on my mind, never say that, nor do a lot of your colleagues but you must have missed a lot of family events, birthdays and all going to the international space station, did you ever say, i completely forgot, my mom's birthday next week, i got to leave -- how does that

happen? i know i am belaboring it. >> when you are -- you know when your mission is going to be so you're going to miss those things but you miss a lot during training, my international space station flight 3 years of training, half of that time in russia, certainly missed a lot of things like that. never crossed my mind to say i can't go train right now because i've got a scheduling conflict but i guess if you are a billionaire you are not used to being told no. >> i'm pushing this up noxious way but you talk about 3 and a half years of training for that mission, to say nothing of your education and all the background to get you to that point, these people slapped down some money and they are astronauts. at some level that has got to bother you?

>> i look at it this way. is like when president reagan was given honorary knighthood or somebody gets an honorary phd, the experts say that is fine but it would be highly inappropriate for those people to actually use those titles and so i look at this the same way. you want to fly into a billionaire, you want to be called an astronaut that is fine but i hope you don't go around representing yourself as a professional. it can make a difference that is pretty huge. neil: i was intrigued when branson returned to terra firma, there's a certification process that goes on, you are certified or something that officially states you are among the fewer than 500 human beings who from 60 years plus have ventured into space. is that true? didn't know the whole process. >> haven't heard about the

certification for professionals. what it might be, he might be claiming some kind of aviation record through the federal aeronautic international, trying to claim some sort of record they would need to certify the flight that he did indeed go as high as they said it did and all those other factors so that is possible that they are trying to say they made some kind of a record. neil: i so enjoy talking to heroes like you but i always amuse myself thinking i am an astronaut commander. and told me. this whole issue about whether you are really into space at 50 plus miles, 60, 65 miles, what is it? the bezos people were ripping branson's people, technically we are going higher, what is the deal on that?

>> the deal was virgin galactic spacecraft can't quite get to the 62 mile carmen line and the history on that is back in the 1950s, 60s when the united states was flying x 15 flights and some of those pilots went above 50 miles so the united states government set that boundary answered 50 miles is the boundary of space and if you flew a vehicle above that you get astronaut wings and get to become an astronaut and some years later an international group decided 100 kilometers was a nice around her number, that works out to 62 miles so virgin galactic can't quite get to that 62, jeff bezos will go over 62 so that is the ribbing between the two of them. >> he will go higher but we will see on the 27, the 50 second anniversary of neil armstrong, apollo 11, all that good stuff.

appreciate it. we have a lot more coming up. i still can't get in my head that someone only days ahead of the mission, didn't realize i have a conflict, i have this damn appointment, can't go to the heavens today, not buying it america, a little more after this. lan with voya, keeps us moving forward. hey, kevin! hey, guys! they have customized solutions to help our family's special needs... hey, graduation selfie! well done! and voya stays by our side, keeping us on track for retirement... ...giving us confidence in our future... ...and in kevin's. you ready for your first day on the job? i was born ready. go get 'em, kev. well planned. well invested. well protected. voya. be confident to and through retirement.

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(in unison) thank you mckayla! dude, get it. i'm not getting it, you get it. you threw it. it's your frisbee. geico. switch today and see all the ways you could save. neil: millionaire, scheduling conflicts, can't make space trips but edward lawrence new he was going to appear at half past the hour on the show and unlike this billionaire next going on that rocket, our own astronaut is ready and just to bring us up to date.

is it true that the administration is flagging inappropriate or misinformation so that facebook can act on it? what is going on? >> let me check my schedule, might not be able to do this. the white house is admitting they have a direct line to facebook through the surgeon general's office saying there flagging posts on facebook to be removed. that opens the question what level of engagement we have and who is being targeted. in a statement today facebook is saying we predominantly ban pages, groups and accounts that reportedly break our rules on covid misinformation and this includes a dozen pages, groups and accounts in some form, from some individuals referenced in the press briefing. what is not in the statement is if the company works equally with republicans. what the white house press terry says that they have a list they are keeping of people

on facebook who should be targeted. >> we have recommended that they create a robust enforcement strategy that bridges their properties and provides transparency, there is 12 people producing 65% of anti-vaccine misinformation on social media platforms. oliver remain active on facebook despite some being banned on other platforms including facebook, ones that facebook owns. >> the surgeon general saying social media companies are not going far enough to remove this misinformation. senator mike lee calling out those big tech giants is promoting deceptive business practices because they tell people they are evenhanded but working closely with this administration. >> i hope, i expect them to do the right thing as they realize we at some point are going to regain control of congress and the white house and when that

happens if they've wait until then to fix it things will be more unpleasant for them than they need to be. i call on them to do the right thing right now. >> within the next half hour we will hear what the white house has to say with clarification about this level of engagement and what they are asking from social media companies as the press secretary will hold a briefing. back to you. neil: thank you for making time to do our show, no conflict there. as it was wrapping up, we get word, you heard about what is happening with a virus and mask requirements late tomorrow night, southern nevada's health district which includes las vegas is recommending masks indoors as well just like la county regardless of their vaccination status. i want to explore that little bit. i drop this on our guests but they are so good with breaking news and kind enough to answer, carol roth with assemblies speak, it is spreading if you think about it.

here's another big area, county, saying masks, vaccinated or not. i suspect this will spread still further. what do you think? >> we've seen an uptick in hospitalizations and it does seem as though this new variant is pretty contagious but the good news is that the vaccines are very effective in preventing any serious illness or death because of the new variant. is big cities and big areas like los angeles impose mask mandate i gather the las vegas one is simply a recommendation. i think that's because how do you know whether someone is vaccinated or not? then we get into the issue of do you need some sort of proof of vaccination to go into a store without a mask etc.? i don't think the american people are going to welcome re-masking. this will become a real political hot potato if the

authorities move this broadly across the country especially if it turns out that this variant that is so alarming is not particularly lethal. neil: whatever people's views on masks i worry about the economic repercussions of this especially in very populated areas when all of a sudden their growth could be stymied just when the boom is on. what do you think? >> someone should write a book about this, the war on small business and economics. let me think about it and get back to you. it seems to be they haven't quite gotten enough of their piece of power and haven't learned anything from the first time around and as we know from the first time, giant transfer of wealth from main street to

wall street, small business shouldered the brunt of the burden, we were not appropriately compensated and what we hope will happen this time whether it is from the issues, the individuals, they will stand up and take their freedom back and say enough is enough, have the data, we know what is going on and to make the decisions we think are right knowing the risks and not continue to let these tyrants get away with this because at the end of the day they don't have to bear on the outcomes of these mandates and unfortunately the average american does and it is just as exacerbating the wealth creation opportunities for the average american. we need to stand up and take our freedoms back. neil: very modestly avoided but she has a great book on the subject the war on small business a lot of this coming,

i can remember in the middle of the pandemic you were talking about crackdowns with local governors and all, what people in florida were enjoying and others but it obviously complicated the recovery and delay did and now people look what is happening abroad and seeing crackdowns and restrictions in places like sydney, australia, greece, and france. is it a way to push people into getting vaccinated? if you don't want this, roll up your sleeves because forcing the issue hasn't seemingly worked. >> a lot of those foreign countries including semi-referenced haven't had a

very successful vaccination rollout. we have. an awful lot of americans particularly between vaccinated americans and people who had covid we are approaching herd immunity. has i said earlier we have seen a little uptick in hospitalizations but the numbers are still extremely small and small enough that they compare with the time, better than the time when governors and mayors began lifting those restrictions. i think it is going to be pretty hard to argue that we need to put those mandates back in place, the economic consequences we know were severe but also psychological consequences. we just got that terrible piece of news about suicide, the cost of the markdowns, the cost of all these mandates are just becoming clear, and i can't imagine anyone wants to go back to that. i don't think the government is

doing this to encourage vaccinations but everyone should encourage people to go out and be vaccinated. that is how our country got ahead of this thing and that is how we will stay at of this thing. neil: some have ridiculously low efforts of vaccination, only one%. we are watching closely. thank you both very much. we will be monitoring that and what we are doing with the government, getting it back together on getting refunds, 35 million americans waiting for their refunds, they tried to check with the irs which is next to impossible and they are told the same thing, keep waiting and waiting. why? this is sam with usaa. do you see the tow truck? yes, thank you, that was fast. sgt. houston never expected this to happen. or that her grandpa's dog tags would be left behind. but that one call got her a tow and rental... ...paid her claim... ...and we even pulled a few strings. making it easy to make things right:

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refunds with the irs is knee-deep in processing them. connell mcshane with what is behind it. >> their standards at the irs, 35 million number came from the watchdog report saying these returns are not yet processed and look at accountants like this who are getting a lot of phone calls, they will tell you it is never easy dealing with the irs but what is happening now. >> this year has been extraordinarily difficult. being able to get through to them, to ask questions, to be able to basically navigate for what our clients need, extraordinarily difficult not to mention how delay everything has been related to refunds.

clients are constantly asking where is my refund and we are at the mercy of the irs at this point. >> reporter: he blames work from home for a lot of this saying the irs was never set up properly to work remotely but in an efficient manner, really fell behind. and fairness you can say this is a busier, changes to the tax code and additional demand of getting the stimulus checks to the public but as of yesterday they expanded the child tax credits the workload as well and funding cuts over the years but whatever the reason millions of americans are understandably frustrated especially those folks who were expecting refunds. >> eventually they will get their refund and they will get some interest put on top of that but people are not looking to make interest from the irs because their money is being held. with everything going on in the stock market you want to get that money and invest it somewhere but this goes to a bigger issue for everyone out

there. you should not be planning to get a refund. if you do proper tax planning when you file your tax returns. >> he says that is the lesson, don't loan your money to the government, keep it for yourself. the irs nothing only government agency plagued by delays this summer as more americans start to travel internationally but they are discovering it takes a long time to get a passport renewed. the state department has been backed up pre-pandemic a standard passport may take 6 to 8 weeks. they say now there are 18 weeks to get a passport, state department trying to get more people back in person and the like but wait times are not expected to go down anytime soon. neil: a big mess, thank you very much. connell mcshane on all of that. we told you about las vegas where they are reimposing and the restrictions of masks and

that sort of thing like la county is doing in california to take effect this weekend but what is going on here? what is growing on here? after this. curing portfolios, time after time. gold. your strategic advantage. ♪ ♪ with cutting-edge tech, world-class interiors, and peerless design... their only competition is each other. the incomparable mercedes-benz suvs. extraordinary runs in the family.

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trimble, the travel boom is still on despite the fact that some restrictions are going back in place in chicago and elsewhere. public health officials recommending people who are vaccinated and unvaccinated wear masks indoors and in los angeles county the mask mandate is back in place this saturday. public health officials saying other restrictions are still on the table. >> we begin to see improvements in transmission of covid 19 but waiting to be at high community transmission levels before making a change would be too late. >> reporter: in chicago the city at arkansas and missouri back to its travel advisory list after several weeks with no states on that list. public health officials

advising unvaccinated travelers to take a test 3 days before our arrival or quarantine for 10 days upon arrival. they are also monitoring several other states that could get added to the list including florida, nevada and utah but people are still traveling for vacations, maybe not as much for business, 2 million americans went through tsa checkpoints, 3 times as many as the same day a year ago so as these new restrictions are put back in place in certain areas a lot of people say this feels like a step backwards from the reopening we were experiencing over the last several weeks. neil: maybe doctor marty the carry knows what is going on, he was ahead of the curve and a lot of the stuff. is this a little bit of overkill? reimposing mask mandate even among those who have been

vaccinated? >> both things are happening, the virus is circulating among those who are not immune, never gotten vaccinated and don't have natural immunity and that is real and there is a risk but most americans now who are at risk are protected. we have 90% of seniors vaccinated and another 5% have natural immunity, 70% of adults are vaccinated. half of the unvaccinated have natural immunity. we are talking high levels of the population but what we are doing is making a lot of policy based on fear conflicting with the cdc guidance and the latest study of the delta variance from the uk which shows the pfizer vaccine was 96% efficacious, we are seeing a decoupling, cases are going up but severe illness is not. neil: when we talk about the

50% surge in cases, 99% have not been vaccinated. dear point that sounds scary but these are not scary. or the deaths associated. >> that is right. you can present the numbers to support whatever you want people to think. if you're a fear mongering media out of the san francisco chronicle you take cases in san francisco that went from 10, 242, 10 cases to 42, most a symptomatic and say that is a 420% increase, that is a spy, that is a surge, those headlines are driving policy. we are not seeing the risk of 0 but the risk to vaccinated people is far less than the risk of respiratory system is a virus, bacterial pneumonia and a host of other infectious diseases. there is one to 5 people with

covert illness in major medical centers. i've been talking to doctors in california. almost all our unvaccinated. neil: the plurality will never get vaccinated. a lot are young people who feel they are bulletproof. i remember being that age but allowing for that. would if that remains the case? that large a portion, fully a third of americans who never ever get vaccinated. >> and those who have natural immunity, and they don't pose a

risk to those, and they are in deep water. we will need that credibility in the future. >> good point. have a wonderful weekend, thank you very much, the dow down 95 so absorbing all of these various worries piling up as it always has throughout the pandemic or post the pandemic after this.

♪♪ neil: good to have all of you with us. i changed my schedule down a littling bit so i could do the second hour here. [laughter] i'm like that guy who's supposed to go up in jeff bezos' rocket, had a conflict. i cannot stop thinking about it. if you're inclined to book a flight into space and then realize, oh, my gosh, i have a dentist appointment, we explored that laos time, but i'm -- last time, but i'm not letting go of this. they found an 18-year-old to replace him, so we're going to have the youngest person going into space, the oldest person, 82-year-old mercury 13 women veteran. they let women fly in those days -- they wouldn't let women fly in those days, she's getting her chance now. focusing on all of the positive developments from all of this

and another positive development on a week when you think about inflation, it was front and center at the big, big economic issue of the week. i guess today's selloff notwithstanding, you know what? given things, we shouldn't worry. jerome powell says we shouldn't worry, major market guys say it will be short-lived. janet yellen says maybe a few months tops before the spike starts easing and we can all breathe a sigh of relief. will we be able to do that? brian wesbury, first trust advisers' cio. brian, what do you think? the market is going with this temporary inflation spike, and that's all it is, and we needn't worry. what do you think? >> yeah. i totally disagree. if that's what the market's thinking, i think the market is wrong, neil. some of this, some of this is transitory, okay? there is no doubt about it. remember, we're giving people money so that they can spend but

not work. that's an imbalance of supply and demand. we also, because we shut down the economy, we damaged supply chains. and most of that will get healed. i do believe there's some persistent inflation problems that just come from those issues. but then the second thing is, is that we have increased the m2 measure of money, that's all deposits in all banks, over 32% since february of 2020, pre-pandemic. and when you increase the money supply by 32%, the value of the dollar has go down versus goods and services. and that's the permanent part of this inflation. neil: you are the first guest to mention m2, you know? back in my days as a business reporter decades ago, we used to quote that all the time. >> yea. neil: man, oh, man. michelle snyder, i want to get your take on this because

whatever people's views are on, you know, government stimulus and help with the child tax credits, with we know that we get used to it, right in and we come to expect it because if wall street were dead set against it, it would be selling off. right now it's liking it because i suspect that it's the government that then risks either, you know, keeping this going or fears that, you know, we can't be weaned off them keeping it going. so we like it. and it's a dangerous type of reliance. just wondering what your thoughts are. >> agree with everything that was just said. i also am in the camp that we are just really beginning a super cycle in commodities. it just looks different than what people are expecting because of the transitory factors, but there are some real things to stay. and, of course, government stimulus is a part of it and what the fed policy is, is a

part of it. but i think only a small part of it because the fed is totally aware of the fact that if they do anything more hawkish than what they are talking about doing right now, they are going to really put the market and the economy at risk because our labor market is still so far from where it needs to be. and as we look ahead into the third quarter, where is the growth coming from? in the meanwhile, you have real issues not only with everything that was just said with supply chain and labor, but you do have a very strong food-driven inflationary scenario right now. and even as we're speaking, wheat's going up, corn's going up, coffee if, sugar. these are exactly what happened in the mid '70s. the soft commodities and the oil market went up and then gold and silver caught on before we went into that hyperinflation, and i think it's going to take the market by surprise here. neil: two very smart people talking about the market getting it wrong.

and that has happened, brian. we forget that. the market isn't always not nostradamus here. i'm curious about how it deals with it. if the federal reserve is suddenly fingeredded for getting behind the curve and not doing something about this whether it involves raising interest rates or slowing, reversing this process that we're buying every mortgage-backed security bond, corporate bond, that's going to alarm the market whether it's justified or not, right? >> yeah, exactly. neil, this is -- i love this conversation because i don't think people are focused enough on it. right now if you kind of think about what the fed's doing, they are doing quantitative easing every month, $120 billion worth of bonds. part of that is funding the government -- neil: right. >> -- which is then the treasury-selling bonds x. then they're using that money the pay people not to work. so the fed's easy monetary policy is actually leading to

higher unemployment. and that means the fed will persist in this easy money. and if you go back to the '70s, you just mentioned it, everybody back in the '70 said, oh, inflation's transitory. it's opec, it's the dollar -- neil: right. >> -- don't to worry, don't worry. and eventually we paid a big price. and that's where we are today. people don't realize this is coming just like the early -- late '60s, early '70s, and eventually interest rates will go up. it's going to take a while because the fed's going to fight, fight, fight. but by fighting, they actually make it worse. neil: i'm thinking more midterms, michelle, but maybe democrats are counting on all of this spending keeping the economy very, very strong. that probably will be the case. but the flipside of that is i don't think they appreciate the inflation that could stick around and maybe spike even further because of it, and that will be the battle when americans go to the polls because they are seeing an

uptick in activity, but they're paying through the nose for it. how do you think it balances out? >> well, unfortunately, because politics tend to overrule a lot of sound economic policy, if we don't get anything really enacted over the next month or so -- and when i say enacted, i mean more in terms of infrastructure, what we really need in this country -- yes, i think you're right. there's going to be attention turned to the midterm elections and wanting to stay in the majority which, of course, is a lot to ask. i just want to mention one other thing to add to brian's point because i think it's so important to understand. in 1980 if you looked at the dow jones and gold, the price was about 1 to 1. here we are, and now it's, like, 20 to 1, the dow to gold. that's gold. and then the commodities versus equities, the ratio between the 20 -- between the two, it's still at a 100-year low.

it seems much more likely that equities can go flat and commodities can go up. how that impacts the democrats in the fall -- in the midterm elections remains to be seen. for right now i think that's going to be something that everybody's going to have to reckon with, and we're going to really start to see the evidence, i think, as we go into the third quarter. neil: we'll watch it very closely. guys, i've enjoyed this great '70s show. i'm sure brian is wearing bell bottoms right now -- [laughter] we just can't see. >> exactly. neil: the leisure suit thing. it was bringing back my good old days when i had no dates. but that was then, why focus on me. let's go to jillian melchior, "wall street journal" editorial page writer. jillian's taking a close look at u.s. companies doing business in hong kong, the warning be careful. the administration saying just be careful. what are they telling us, jillian? >> well, this is completely justified. so what happened is last year

the chinese government imposed a new national security law in hong kong, and what this does is basically criminalize any form of dissent. you've already seen them arrest the entire opposition movement. and particularly disturbing part of this legislation basically says that we can go to western companies, can demand that western companies turn over information about dissidents, take down dissenting posts on social media and that if they fail to comply, if they fail to do what the chinese government demands, then they will target any employees that they have based in hong kong. it's profoundly disturbing. this is sweeping extraterritorial claims. but you're particularly vulnerable if you have an office or are doing business in hong kong. that's what this warning is all about. neil: i'm still surprised there are the number of american companies still knee deep in hong kong as they are. i would have thought with just the experience of the last couple of years, they would have

certainly been spreading their wealth in places like vietnam, thailand, what have you. but a good money are still there and still milking it. what does their future look like? >> uh-huh. well, i mean, i think the chinese government wants to keep them there. it doesn't want to lose that legitimacy. but i think be really careful. i mean, what we've seen in just the last couple of months, apple daily, the pro-democracy newspaper owned by a publicly-traded company, their owner was really outspoken on the democracy cause. they've arrested him and several of the editors there. they were able to seizethe assets and put -- seize the assets and put this company out of business. it's a warning to any business that they can do this. they don't even have to go through a judicial process. there's no due process here. this is a unilateral alaska, and what happened to ap -- action, and what happened to apple daily can happen to anybody doing business in hong kong. it's really alarming. neil: no wonder the warning. jillian, thank you very much, i

think. also keeping an eye on the story that the white house is consulting facebook on what it sees as misinformation, and i was thinking to myself what if it were the reverse? what if it were donald trump and his surrogates doing the same with facebook? if would they get the -- would they get the same attention? after this. ♪ hey, soul sister, the way you move ain't fair, you know? ♪ hey, soul sister, i don't want to muss a -- the world's first fully autonomous vehicle is almost at the finish line what a ride! i invested in invesco qqq a fund that invests in the innovators of the nasdaq-100 like you become an agent of innovation with invesco qqq that building you're trying to buy, like you you should ten-x it. ten-x is the world's largest online commercial real estate exchange. and it's fast. if i could, i'd ten-x everything.

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♪ neil: it's a weird story on the surface, isn't it? the white house consulting facebook over misinformation it sees here. we don't know how aggressively facebook follows up on that or still could be following up on that. hans nichols has been exploring this, of course, an intrepid reporter who's got a great sense of humor as well so maybe too will help make sense of this. just seems silly on the surface, but tell me what's going on here. >> well, i'll tell you from the white house's perspective, neil, they think it's deadly serious, and they think that misinformation, as they label it, that traffics on social media is one of the reasons that most -- that parts of the country aren't getting vaccinated the levels the white

house wants them to be at. neil: it's not just the virus though, right? it's not just vaccination. it extends to other -- >> yeah. i mean, that's where we get into really tricky territory, and all of us need to bust off what we -- dust off what we think about the first amendment. i am not in a position to adjudicate that. i do think that facebook probably recognizes that -- and as you said, they've all but said this publicly -- that they're i throwing a lot of resources at this. the question is how often do you need humans, how much can you rely on algorithms. and you're never going to please either side or anyone. and facebook sort of realized this, right? the white house is coming down hard on them, conservatives come down hard on facebook for what they say is cancellation. so these are going to be choppy waters for facebook. but i think that everyone should really be aware of how angry and sort of passionate democrats and

in particular white house officials feel about facebook and what they think is facebook not holding up to their end of some broader social construct. neil: you know what's interesting too about it, misinformation could be in the eye of the beholder and could change, right? even the theory that all of this started with a virus in a wuhan lab, and it was laughed at and taken off facebook and other social media sites when, in fact, now they could have egg on their hands. having said that, how is facebook going to deal with this? if. >> i suspect bodies and i expect more resources, right? anytime you're publicly called out from the white house, they're aware they might have a problem here, and they're very sort of deft at figuring out the politics of this although sometimes the politics are too difficult of a challenge to actually surmount. you know, from the white house's perspective, they have two tracks here. they're both describing the problem and hinting at the prescription, so there's adescription and prescription.

you saw -- you had jen psaki echoing those comments, this whole new strategy. broader question is, again, i think you're kind of driving at it. if this is the public square, who gets to decide what is said. and this is not just about sort of the vaccine conversation. this has to do with a variety of subjects that are hot button issues all across the country, and both sides are working the refs, right? here's the most obvious example of the white house trying to work the refs, trying to have facebook remove posts. but it's on the other side as well, and i think both sides are very passionate about this. i think we're in for a pretty interesting conversation on this subject. neil: you're right about that. if i could switch gears, we were talking with market pros about this $3.5 trillion spending plan that chuck schumer wants to take up next wednesday along with the

$1 trillion infrastructure package. there's an argument to be made that someone's going to be wrong here. republicans say it's going to be inflationary, it's going to hurt democrats and the country. obviously, democrats are betting on the boom continuing and this will foster feel more of that -- still more of that, and it will help them in the midterms. there's very little daylight between them. what do you make of who's right? >> i hate to say time will tell, but i do think both sides are locked into their positions. and one thing, what's interesting about democrats is that on this particular if issue, especially on the pay-fors, on how they want to pay for the trillions of dollars in new spending, they're convinced that raising taxes on wealthy americans and corporations is a political winner. they say all the polling supports that, they're absolutely committed to that, which means we're likely to have a 2022 midterm election -- if these bills get through -- that have democrats on the record for 2, maybe $3 trillion of tax raises. the ads almost write themselves,

and yet democrats look at the longer-term things, they say they're going to grow the economy, covid's going to be on the run and they're going to expand the social safety net, provide child tax credits that they've been talking about all week. you're right that this is sort of a perfect test case and we'll ultimately see the results, potentially, i'll give myself a little hedge there when we have the midterm election in 2022. but both sides are dug in. neil: yeah. i can see their point, 35 million now getting these childcare tax credits, then you've got to balance that out if republicans are right with the inflation that could spiral out of control by the midterms. so some of those same beneficiaries are realizing i've lost awe of this in higher prices for everything. >> yeah. i would just say one note on inflation is that the white house sort of feels like the cake is baked on inflation and that it's largely in the hands of the fed. and if you do offset the $3.5 trillion in new spending or

$4.5, whatever number it ends up being, and you have a commensurate a amount of tax increases over ten years, that doesn't add to a lot of inflationary pressure. it'll have knock-on effects, but inflationary wise, the white house thinks this is all the fed and they have to live with the decisions they made which was the initial $1.9 trillion relief package which was over a much more compressed time period. neil: you're right. as polling shows again and again, americans favor this spending. they're also aware of the inflation, but they like the money more. we'll see how it sorts out. hans nichols from cax -- axios. charlie gasparino, what did you make of the argument that one way or another the democrats are betting that this spending, inflationary though it might be, the benefits are going to outweigh the risks of that?

>> it's kind of an interesting guns and butter debate, lyndon johnson. he thought the massive amounts of spending he proposed in the '60s would outweigh opposition to the vietnam war. it didn't work then, i kind of think it won't work now. i think the amount of spending they're doing is starting to have impacts on the economy that are completely unintended. you can see it from some of the not just body language, but the language of jerome powell when he comes out and says, hey, inflation is higher than i thought it would be. it's caught him off guard. neil: right. >> the economy can grow 3%, your wage can go up 3%, but if you're paying 10% more for a steak or gasoline, that outweighs any increase that you got. that is the problem with inflation. it is a huge tax on the middle class. and so, you know, i think they're playing with fire, and, you know, i think the lyndon johnson example is perfect. and, you know, i think the republicans will play this game

every day because most people don't like taxes. they don't like extra regulation. they don't like, you know, the government bearing down on you -- neil: unless taxes are just on guys like you. they're for that. >> sometimes they are because guys like me f we cut back spending, then guess what? the bartender makes less money. my old man was a bartender. he loved rich people. you know why? because those are the people that tip. that's how he made his money. [laughter] anyway, i know you're a huge call of duty fan. i didn't realize that. your staff told me this. so you'll be particularly -- neil: that's a lie. but anyway, i know what you're building to here, so go ahead. >> it's not a lie, it's true. it's all true. and what we understand right now is that there's going to be -- i mean, we've been talking deals, all types of different deals, gaming is this huge business. there are nerds like you that are totally into it. i don't know much about it. but apparently, there's going to be significant deal-making in this business because, listen to

this. you mentioned facebook before. netflix, google, amazon, microsoft, they're all getting into this gaming business. now, you know, i'm not into it, you are, but they are making -- they're getting into it, and banks are going crazy predicting deals. now, you should show one stock up there, found out today -- you probably know the stock by heart, neil -- activision blizzard. that's one of the biggest gaming companies, and it's going through the roof. we should get a stock chart up there. it's a huge market cap. look at the market cap -- neil: i'm trying, but our staff is playing games right now, and they're -- [laughter] >> they're on call -- neil: exactly. >> what's the other one? fortnite. neil: there it is, look at that. >> the theory is this stock has gone up, it's at all-time highs.

by the way, the company's been around a long time, been around 30 years. look at that pop. and the reason why is because there's lots of talk about -- by the way, that pop probably to occurred on my between as i tweeted this out -- there's lots of -- that's a one week chart. do a one year. it's pretty amazing. talk of one of those tech violents buying them to maybe -- giants buying them to maybe build out, this is a great area. i'm glad there's someone kind of like my age that's into this. so maybe -- [laughter] neil: what is the last game you played? probably atari, right? >> you know what it was? no, it was pac-man. neil: oh, okay. >> in, like, 19 -- i'm going to give you, i'm dating myself, 1983 i was dating this girl, she was totally into pac-man, and i got into pac-man.

but then she broke up with me, for obvious reasons, and i never played pac-man again. neil: really? someone needs a hug. [laughter] >> it's been a long 30 years -- [laughter] neil:ing all right. well, look at you know now, all right? would have, should have, could have. >> i know, where are you now? [laughter] neil: oh, man. all right, thank you, my friend. all the rage, right? if a big investment thing. gaming has been around for a while. i always think some of these guys at netflixing that offer gaming and all that, a little late to a party that's been raging? who knows. anyway, we're following that. also following a lot of developments right now about these mask requirements popping up now in los angeles county, including las vegas. even if you've been fully vaccinated. how's that going down? two words: not well. ♪ does it get lonely thinking

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neil: i really hope you didn't throw away your masks, especially in los angeles county where they're going to be reimposed for anything you do indoors in that county that includes the city of los angeles. christina coleman is there with how it's all going down. >> reporter: hi, neilful well, this mask mandate is getting a lot of criticism, but l.a. county, the nation's largest county, is going forward with it citing an increase in covid cases. as of yesterday, covid infections in the county were above 1,000 for the seventh straight day when just a month ago it was 200 per day. hospitalizations and deaths are still way down compared to last year, and 61% of county residents are vaccinated. but county officials say

substantial transmission of the virus warrants a mask mandate. >> wearing a mask when indoors with others reduces the risk of both getting and transmitting the virus. masking indoors must again become a normal practice by all regardless of vaccination status so we can stop the level of transmission we are currently seeing. >> reporter: however, l.a. county's mask mandate does not align with the cdc's guidance that says vaccinated people do not need to wear masks indoors in most cases. and remember, california already already -- only lifted the mandates a month ago, so many are questioning the science and logic of this move especially since people can go to nearby orange county and not have to wear a mask. take a listen to this bar owner. >> enjoy a cocktail without a mask on in orange county, but here we have to put a mask on. this is as frustrating as it gets. it's just not fair after being

closed down for over a year. >> reporter: governor gavin newsom did not impose this upcoming mask mandate, but opponents running against him in the upcoming recall election are weighing in. former san diego mayor kevin faulkner tweeted in part, quote: if gavin newsom had common sense, he'd step up and oppose this. and caitlyn jenner tweeted, quote: here comes gavin's shutdown 2.0. apparently the southern nevada health district which covers and includes las vegas is also recommending people vaccinated and unvaccinated wear masks in crowded public places indoors. neil? neil: incredible. christina, thank you very much. christine coleman in l.a. with that. now a san diego, california, mother of four is saying probably, really? where's all this going? melissa o'connor is her name. i guess you're at the point of just being sick of this sort of stuff, huh? >> absolutely.

hello, neil. so i hope i can get through all my talking points, because i think they're very important for the american people who are listening to hear. first, we have a study from jama pediatrics that says children wearing masks inhale six times more carbon dioxide above what is safe for them. that's scientific, the right? okay. another, more anecdotal reference that you can look up, some frustrated parents from florida sent their kids' worn masks to a lab, and the findings when they were sent back were pretty scary. they found pneumonia, dangerous pathogens, parasites, fungi. and, neil, i don't have letters behind my name, but i'm a parent with common sense. i have an 8-year-old son. i see him put his fingers in places no one wants to know about. [laughter] god only knows how he's using

that mask when he goes to school. and i know i hear a resounding yes, right? i can hear it all across america. every parent is, like, oh, dear god. i get that mask off my kid when he gets home, and it is terrifying. like, we were doing the throw-away ones, then we got the cloth ones. the cloth ones, there was all kinds of fun lunch pieces, dirt and god only knows what else. kids are dirty. neil: the fact of the matter kids under 12 can't get the vaccine yet, and they're the ones who are obligated to have it. but what's weird about some of these latest crackdowns is everyone has to wear the mask whether you've been vaccinated or not. that's what makes it kind of weird. >> i think that's a great word, weird. [laughter] so in february 2020 fauci said these are not appropriate for the general public. people don't know how to use these. surgeons know how to use these.

i'm not a surgeon. and also no one can tell me what to put on my face. so everybody needs to listen to this word, this phrase, informed consent. neil, do you have grandkids? neil: no, i don't have grandkids, young lady. i look like i should -- >> i am so sorry, i apologize. i should have done my research. okay. so would, if you had known this information a year ago before your kids or family members or children in your life that you love went to public school, would you willingly say, you know what? i'm going to check the box that i agree to this. i'm going to send my child that i love knowing this information. that's informed consent. we have not been given that as parents this whole process. and there is an american constitution that people in my

county have seemed to forget about. you cannot, to my knowledge, be put in jail for not wearing a mask because it's not the law. america -- neil: so what do you do if it gets to be required this fall when everyone goes back -- i don't know what the rules are there, but you're going to just -- >> okay. yeah. so one option for us, my line in the sand is masks in the fall, we are outta there. i'm taking my 8-year-old son out of public education. over the last year, there has been a 600% increase in the exodus in california mix schools. public schools. this is a number that indicates that parents are not okay with this. neil: all right. we'll follow it very closely. melissa, i wish i could talk longer, but i have to take a nap. i'm kidding, i'm kidding. but thank you very, very much. keep us posted on this because this is not going down well, is

it? melissa o'connor, san diego, california. important letters behind her name, m-o-m. we'll haveon more after this. which saved investors over $1.5 billion last year. that's decision tech. only from fidelity. trelegy for copd. ♪ birds flyin' high, you know how i feel. ♪ ♪ breeze drifting on by you know how i feel. ♪ ♪ it's a new dawn... ♪ if you've been taking copd sitting down, it's time to make a stand. start a new day with trelegy. no once-daily copd medicine has the power to treat copd in as many ways as trelegy. with three medicines in one inhaler, trelegy helps people breathe easier and improves lung function. it also helps prevent future flare-ups. trelegy won't replace a rescue inhaler for sudden breathing problems.

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gold. your strategic advantage. ♪ neil: all right. have you been seeing these floods in europe? out of control in germany and belgium. the very latest right now from amy kellogg who's in florence, italy, with the latest. hey, amy. >> reporter: hi, neil. well, the disaster of historic dimensions is what the head of the north rhine westphalia in germany, one of the regions most badly hit, has called this all. he said we will replace homes and roads, but human lives are irreplaceable. the force of the destruction has reminded many people of the destruction after world war ii. germany's deputy chancellor is blaming climate change for the scale of the destruction that has hit part of the country with the force of biblical

proportions. it's not just homes that have been swept away, but roads and bridges that have been destroyed. all of the infrastructure problems making rescue efforts that much more difficult, although many have needed to be rescued from rooftops given the height of the rising waters. belgium has been catastrophically hit as well, the governments has declared a day of mourning for tuesday. twenty people there have died, and so many have lost homes and livelihoods. this devastated shop owner says my shop has been open for three years, we've had to go through renovations, we had to live through covid. we were hoping to get back on our feet, there you go. so a lot of tears. if it's not lives lost, it's livelihoods lost, neil. over 120 people have been killed in germany and in belgium. they say hundreds but possibly a thousand people are missing. some of that may be due to the fact that cellular networks have crashed across the region.

luxembourg, switzerland and the netherlands have also been hit though not to the extent of germany and belgium, neil. neil: just incredible. amy, thank you for that update on these floods that, apparently, a lot of meteorologists are saying could continue with more pounding rains expected in a lot of these same countries and regions. we'll keep you posted. also keeping you posted on the allure of bitcoin. but it's a really sol tell allure, right? one famous star wants all his endorsements paid in bitcoin. good move, bad move? you decide after this. hter...s'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. that building you're trying to buy, you should ten-x it. ten-x is the world's largest online commercial real estate exchange. and it's fast. if i could, i'd ten-x everything.

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♪♪ neil: all right, don't be surprised of how many characters you run into at sesame place or a grouchy mood, just feeling monstrous about it? lydia hu in pennsylvania with what's going on. they've got a labor shortage, right? >> reporter: yeah. they really need the workers. despite that, i've got to say, not many people are in a grouchy mood. lots of people taking advantage of the water park here on this hot summer day. sesame place is thrilled to welcome back a crowd after they had to close for months last year. you're right, they need about

500 more worker, and until they can get them hired, it's all hands on deck. >> -- a lack of applicant flow rate now. it's been an interesting challenge for us to deal with how do we not make this impact the guest experience. i saw our park president working a food stand, our head of h.r. was doing the turnstiles, so everyone's willing to do whatever they need to do. >> reporter: now, according to bureau of labor statistics, employment at amusement parks and arcades is slowly recovering since last year, but it's down about 56,000 workers. sesame place is adamant that they won't cut back on hours, but they are cross-training employees so that, you know, workers who are operating rides can also pitch in at a kitchen or restaurant. the 500 jobs that they do have open for entry-level positions, that's better than it was at the start of the summer, and to

attract more workers, they've boosted wages here, $16 an hour. they're offering a $500 signing bonus, and they're giving the workers an opportunity to earn up to $2,000 extra. plus, the best aspect, you could say that elmo is your cocoworker if you are here. back to you. neil: there is that. lydia hu. we were trying to secure an interview with the count, but he was not available. it's the cable, i thought i'd cut it. [laughter] okay, fine. doug eldridge is with us, he won't be doing any impressions, but i want to get his impression, this player -- doug, always good to have you. thank you very much. saquon barkley, right? ofgiants. all his endorsement deals he wants in bitcoin.

that's a pretty risky move. what did you make of it? >> i almost equate it to final jeopardy when the contestants have to determine how much they're going to wager before they get the answer. he was the second pick in the 2018 draft. he had a $30 million contract, believe the entirety of that contract was guaranteed. he's coming up -- off of an acl injury and coming up on what will be his second contract. now, specifically, just as a quick aside, most nfl players never see their second contract. so if you come into the league at 22, statistically you're out before you're eligible for reduced car insurance at 25. so he's looking at what's coming down the bend, and he's saying in the context of final jeopardy, i'm willing to wager 30% or roughly $10 million of future earnings in the context of bitcoin because his off-field endorsements are estimated to be around $10 million. so it really is a decision each

player has to make -- neil: yeah, but he can afford to because he's got such a large guaranteed deal, right? >> yes, sir. neil: so play that out. why couldn't he just split it up a little bit? i mean, bitcoin, very volatile ride. he knows it, you and i know it. maybe you hedge your bets a little bit. it might work out, but it's a roller coaster. >> i think it goes to the sensibility of the individual investor. to be candid, i don't think i would be inclined to push all 10 million chips to the middle of table and say let it ride. there might be some insurance riders built into that since the company is in a very visible context ask say, hey, we're going to put a catch net under here, don't worry, we'll guard against substantial loss. he talks about garden against inflation, trying to create generational wealth for himself and his family. and you have to admire the mindset. i mean, in the context of inflation, not every player is

perhaps subscribed to the mindset and at least he's not investing in a depreciating asset. he's looking at the equivalent of diversification, something to forward against it. i'm not sold on crypto or bitcoin, as it were. not to say i'm right or wrong, but to me, it feels equal parts investment and gamble. neil: yeah, it probably is, and more lately gamble than investment. i always tell people as you probably do yourself that, look, if you have money, you can risk losing. that might happen, but you want to sort of roll the dice. i mean, it could also work out very, very nicely. but you've got to be going into it eyes wide open. what i do find encouraging, doug, whether this is a strategy on his part that he's paying attention to his money. how many athletes you've probably represented who don't. and, you know, we've seen the losses of, like, a mike tyson in boxing. at once he was worth a billion

dollars in ring winnings and endorsements, and now let's just say not a billion dollars anymore. so maybe this is a reminder that, you know, athletes and other stars who should pay better attention to their money and where it's going. >> i think you're spot on, sir. i think win or lose, you know, it's the man in the arena, not the critic in the stand, it's the one in there that has the dirt on his face. and in so many ways i think that's what saquon's doing. i think it's a lead by example moment, and i think he's indicative of this newer class of athletes that are very cognizant of the very short window they have to capitalize on their capabilities. and it has to last in many cases the rest of their lifetimes. and i think he's leading by example, and i've seen it with my own clients, the trend line is taking, and it's creeping upwards to the positive. they're cognizant of the limited time they have in this endeavor, and they want the maximize the opportunity. not just on the field or the

track, but they want the create that transition to the next chapter, and i think it's a bold move. i think it's a brave move, but i think it is something ores should -- others should pay attention to. understand there are ways to forward your wealth and multiply it as well. neil: very said. very, very smart -- very well said. very, very smart guy. again we reached out to saquon. something tells me he would prefer charles payne because he's tight with smart money guys, and i'm a grandpa, so it's probably not happening. [laughter] experience our advance standards safety technology on a full line of vehicles. at the lexus golden opportunity

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trial terms and conditions. consult your healthcare provider before starting on omnipod. simplify diabetes. simplify life. omnipod. neil: all right. two hours is a long time. i've got to take my nap now. that's the way i'm remembered. in the last two hours i'm told a grandpa. to a guy who really is but doesn't look it, charles payne. hey, buddy. [laughter] charles: hey, neil. one day, my friend. it's a beautiful experience. one day. good afternoon, everyone, i'm charles payne, this is "making money." stocks, we're a bit lower. you know, it's been a real mix of a week here, obviously. the summer doldrums have certainly kicked in, but two things, you never want to short a bull market x this market you tonight want to walk -- don't want to walk away from. investors are looking for answers and leadership, maybe we get it with the next round of