you didn't say the most used word. >> most used word in the english language is a definite article it is not me. it is. we have 15 seconds to go. that is enough time to tell me we have a rally for the dow, not for the nasdaq, off 80 points, time's up, stuart. neil, 3, 2, 1, it is yours. neil: thank you. stuart, thank you we are following the big rally. see what i did there? all free on basic cable, folks. before you click off though, my friends. we should tell you it is up about 160 points right now. the dow, s&p, any gain after yesterday when we had records, two mirroreds there. we're following that. nasdaq, it looks dicey for technology stocks. we'll get into that in a second. this comes at a time when inflationary pressures appear to

be building in this latest retail inflation report. we have reminders at a 25% 1/2 clip year-over-year. with all this new planned spending going on, including this 3 1/2 trillion dollar human infrastructure package democrats want to push through, that could be more of a problem. first to edward lawrence at the white house. what is happening on that front, that could send those arrows, those price arrows up even more. sir? reporter: neil, some economists are seeing red flag, the administration tells me they see progress. a senior administration official is zeroed in on the month over month numbers, ignoring the year-over-year numbers. if you look at the month over month numbers the official tells me they see categorieses of inflation rolling off and decrease in rolling categories. they believe that will continue. look what consumers are seeing though. used car and truck prices up

41.7% from a year ago. hotel and motel costs up 24.1 projuly of 2020. food prices up 5.4% year-over-year. major appliances up 5% year-over-year. senate minority leader mitch mcconnell warning democrats pushing these numbers with more and more government spending. >> our colleagues pushed ahead a massive springtime spending package that even experts would say would drive inflation. families are getting hit by higher prices from grossry stores, to the gas station to their housing costs. reporter: some moderate democrats are starting to get concerned about the spending. senator joe manchin said this in a statement, adding trillions of dollars to the nearly 29 trillion of national debt without any consideration of the negative effect on our children and grandchildren is one of those decisions that has become far too easy for washington. polling data shows majority of small business owners are now

passing those inflation costs on, the stuff we all buy is getting more expensive. on an earnings call the chief financial officer for shake shack says that they are raising prices three to 3 1/2% to cover their increased costs of supplies. so you also have big companies following suit. now, neil, your staff did tell me to dig deeper into the shake shack numbers. i'm wondering if you're a huge consumer of hamburgers? back to you. neil: among many other things, my friend. but you know it is interesting, they have done this, they have raised prices three times, each time it works out to about 20 to 25 cents a burger. say over the course of the past year the burgers are about 75 cents more expensive, depending on the shop or store. i wonder what the point is of resistance where people will say no? reporter: there must be a study on that. it compounds. a little bit here, a little bit here, all of sudden you're paying two dollars more for the meal deal that you buy.

it is almost a wimpy moment, wimpy on popeye would make out, says pay you on tuesday for a burger today. on tuesday it is going to be more expensive. back to you. neil: i like that. that is very good. you know, shake shack burgers are very, very good. reporter: yeah. neil: the ceiling for me would be $50 for a burger. but i don't know. it is good stuff, it is good stuff. edward, thank you very, very much. i don't know, chad pergram doesn't strike me as a fast-food eater. maybe he is. i just know he is a walking encyclopedia on washington developments how they get things done. they have the infrastructure only package. that is signed, sealed, delivered off to the house. 3 1/2 trillion dollar human infrastructure package, that is a little bit more murky. what comes next? reporter: the senate approved this budget framework around 4:00 this morning. this is a means to an end.

democrats need a budget to use a special tool inside of the budget process, called reconciliation. democrats can tap reconciliation to avoid a filibuster to pass the big bill on their own. >> it will restore the basic social contract in america. if you work hard you can do better and pass on even greater opportunities for your children. in doing so it will restore something in the american character that we have nearly lost. reporter: they really must thread the needle here. watch for fights between liberals and moderate democrats over the size of the bill. democrats can only lose three of their own in the house. that means democrats may need to modify their ambitions. >> all of the democrats are in control. it is very, very narrowly divided. i think they certainly promised a lot and they are already rolling back. that is consequence of divided government.

reporter: president biden may have to twist some arms to get both bills to pass. >> i think we will get enough democrats to vote for it and i think that the house will eventually put two bills on my desk. one, on infrastructure and one on reconciliation. reporter: let me fillet what biden is saying there. he needs congress to send two distinct bills to the white house. two, otherwise he can't say he worked in a bipartisan manner if they blend the bills together here on capitol hill. neil. neil: you know, joe manchin comments and concern about that, he always is concerned when these big spending initiatives come up but he generally, i think pretty much always votes with the democrats when all is said and done, doesn't he? reporter: that statement might be posturing right there. this is good politics for joe manchin to say i'm concerned about the size of the bill and come back later, negotiate.

this is what he did on the big covid bill back in mark, negotiated almost torpedoed the entire thing, tell constituents look what i did, i made it better, we secured this for west virginia, poor west virginians, whatever the concept and then vote yes. this is part of joe manchin's playbook right there, neil. neil: got it, my friend. update me on your burger, you know, the lights and fixation, a little bit later. >> i like frisch's in ohio. southwest ohio, frishes big boy. neil: do they do anything special to their burgers, chad, do we know? >> my wife once said after trying a frisch's hamburger the first time, that was like crack. that was so good. they have a special sauce to die for. neil: duly noted. i'm on my way to ohio. thank you very much. want to go to congresswoman nancy mace, republican, south carolina. congresswoman, very good to have you. chuck schumer asked earlier a few moments ago about the

inflationary threat of the 3 1/2 trillion dollar package, it will all be paid for, will it? >> absolutely it will not be paid for. that is one of my frugs traces with the infrastructure package and the bipartisan infrastructure talks we were told it would be paid for. it actually it is just not. the pay-fors we're talking upwards 30 new taxes in the infrastructure bill to pay for it. the actual pay-for they're discuss something 200 plus billion dollars in unspent covid relief funds. that is still deficit spending. the congressional budget office as you know scored the infrastructure package with another $256 billion in deficit spending over the next few years. i read this morning, i'm sure like you did, neil, that the consumer prices just for of the month of july went up 1 1/2 of 1%, making the consumer price index this year in first seven or eight months 6% which exceeds any prices we saw increase in

2008 only had recession going on. so inflation is taxation. this is going to affect everybody making less than $400,000 a year, you will pay more for the burgers, waffle house, whatever you're buying at grocery store or everything you make is significantly more expensive this year and last year and the year before. neil: it is always the political calculus of each party, congressman, you're new to this in the scheme of things, democrats are just as convinced 3 1/2 trillion dollars in spending here will keep the economy percolating more than dwarf any inflationary pressures. we've not seen that thus far with spending already piling up here where the inflation rate is now exceeding whatever wage gains americans are seeing but they're taking the calculated gamble here that the short term gains for the economy will dwarf any of this new sense about

inflation. you obviously don't buy it? >> yeah, i don't. i think it is an enormous risk and when i heard the clip of chuck schumer talking about opportunities for our families, also talking about the enormous debt our families will be taking on from the federal government. we're talking $225,000 per family. you can't operate a business that way. i can't take on more debt like that as a private individual or as a business yet the federal government continues to do this. we have plenty of revenue. we just, you know, we're stealing from the highway trust fund to build bike paths versus expand, widen roads. we're doing it wrong. that is why we're in the predicterment we are today. that is why we'll see it really hit the pocketbooks of families across the country. i'm trying to find a new car right now but i'm not willing to pay 50%, 100% more than what i paid just five years ago for another vehicle. that is kind of pricing we're talking about right now.

neil: on the one trillion plus, little more than that infrastructure package itself, that had bipartisan support, will you be voting for that in the house? >> i will be voting against the infrastructure package. the new taxes we're talking about potential mileage tax that will be greater than any gas tax we've had before and on top of that the federal government wants to track your movements within that provision. but there are 30 new taxes and the deficit spending that will come along with it is untenable. i had hoped that we could do this without raising taxes. we could find pay-fors already existing to do this deal, maybe reduce the amount of spending, really focus on what we're spending we're spending a lot of money in a lot of different places. we're bailing out amtrak. we're competing with private businesses with electric vehicle charging stations now, that will be across the country, the government shouldn't be competing with entrepreneurs in this space. that is essentially what we're

going to be doing. i won't be supporting the package as it is today. neil: got it. congresswoman nancy mace, south carolina, good seeing you again. >> yes, sir, thank you as always, neil. neil: ken langone, the billionaire cofounder of home depot weighed in on these subjects particularly when it came to some of these other measures and that 3 1/2 trillion dollar measure that will be paid by rich folks, those earning over 400 grand a year. he would be open to that. he said this isn't the vehicle to do it. this is from ken langone. i know recently you got in a dustup talking about some of these spending plans that require guys like you particularly the 3 1/2 trillion dollar measure to pay their fair share. that the tax hikes will go to the $400,000 and over crowd, zero in on guys like you. >> i encourage senator warren to take away my social security and my wife's, we don't need it and

shouldn't get it. they don't have the political courage to do it. i said there should be a minimum corporate tax. we have a minimum alternative tax. corporations should have the same. i also said carried interest should be dropped, it should be changed. all of us have done extremely well. i can't think of anybody i know who is not willing to pay more taxes provided it is not wasted. neil: that is your concern here, right, ken? you're not so sure -- >> absolutely. neil: exactly where it will go into the right place. so the 3 1/2 trillion dollar plan you're not a fan of? >> no. more importantly you're risking inflation period in america that will crush the little guy. who gets, inflation is a regressive tax. the people that get punished the most by inflation are the people who are struggling to make ends meet. why? because they live from paycheck to paycheck. these people deserve better than that. go back and look at '79, 80, 81,

who was getting crushed? the little guy. neil: count ken langone worried about inflation. he started home depot with bernie marcus in the middle of inflation with jimmy carter. he is afraid that could be happening again. scott hodge, tax foundation, he is the president there. scott, he is saying i'm happy to pay more, but this is not the thing to pay more for. what do you think? >> well the reality people like him are already paying way too much. the top 1% of taxpayers currently pays 40% of all of the income taxes in america. that's more than the bottom 90% of taxpayers combined. so we're in fact overtaxing the rich who are the job creators in america and this administration of course wants to raise taxes on corporations. well as it turns out about 98% of corporations are small

businesses. so they will in fact be also impacted quite considerably by these tax proposals. neil: what is interesting about the argument, scott, you heard it from the left, well the rich should pay 40% or more of the taxes because they account for more than 60% of the wealth but if we're going back and forth on that, one thing langone said that is interesting, this notion he would be open to a global minimum corporate tax. that surprised me a little bit a lot of corporations are simply not. that seems something would avoid, he says companies from skirting the taxman all together. what did you think of that? >> well our modeling finds that that proposal would dramatically increase the taxes on u.s. companies and make them less competitive in the global marketplace. in fact many of, really all of the biden tax increases on corporations would affect largely u.s. companies and not

foreign companies. so by definition these proposals will hurt the u.s. economy and make the u.s. less competitive. which means that u.s. companies won't be as successful abroad. they will lose market share to foreign competitors, that means a loss of jobs here in the united states. neil: scott, i know the tax foundation has put a lot of work on this subject but the notion that the 400,000-dollar and under crowd would not be affected by any policies, inflation will affect them. we all pay that, regardless where we are economically but that doesn't get a lot of coverage? >> no, it doesn't. i also think we missed the boat in understanding the impact of corporate taxes on working americans. in fact the joint committee on taxation, congress' own bean counters, just came out with a report looking at the share of the corporate income tax that will be borne by middle and lower income people. they find that as much as 40% of

the burden of economic burden of the corporate tax increase biden is proposing will fall on americans earning less than $200,000 a year. that defies the rhetoric out of the white house that their tax increases only will affect the rich. you can identify where the address is for that tax bill but you can't protect the economy from the impact of the higher taxes. that's the reality here. you can try to tax the rich and corporations the real people that are hurt here are real americans, working americans and largely small businesses. neil: do you think, your views notwithstanding 3 1/2 trillion dollar measure ekes through with democratic support. you're closer to this than i am, what do you think? >> i think democrats are trying to remake the new deal here. they're very intent passing this

proposal even if it requires only democratic votes. i think they feel like they have a once in a lifetime opportunity to do this. they're worried about the impact, the effects of the midterm elections next year, that they might lose some of their majority and so they're intent on getting it done now before it is too late. neil: scott hodge, great catching up with you, scott, tax foundation president. want to update you a little bit on something scott was expounding on here, that the president wants to pound as well. this notion this huge package will be to everyone's benefit but first got to be dealing with this virus and these spikes. he can't order companies to go ahead and start demanding vaccinations but he can strongly urge them to do so. why he is straddling the line between playing president and tony soprano after this. ♪.

[engine revs] ricky bobby, today the road is your classroom. [engine revs] now let's go borrow a boat and make some bad decisions. [engine revs] time to go incognito. [zippers fasten] [engine revs] i love you, ricky! i love you, cal! what's the next stop? it's time for your extracurriculars. ¡vámanos, amigos! woo-hoo! front desk. yes, hello... i'm so... please hold. ♪♪ i got you. ♪ all by yourself. ♪ go with us and get millions of flexible booking options. expedia. it matters who you travel with. i love it. expedia. i just wear a little sensor and that's it. the dexcom sends my glucose readings to my receiver every five minutes. and i can also get it

on my smartphone. you don't have to prick your fingers - at all. it's amazing. i can't imagine anything simpler. as someone who resembles someone else... i appreciate that liberty mutual knows everyone's unique. that's why they customize your car insurance, so you only pay for what you need. [ nautical horn blows ] i mean just because you look like someone else doesn't mean you eat off the floor, or yell at the vacuum, or need flea medication. oh, yeah. that's the spot. only pay for what you need. ♪ liberty, liberty, liberty, liberty ♪

neil: now the president has had a devil of a time getting more americans vaccinated. he recruiting with university health care leaders, eventually business leaders to force the issue, compel them to require vaccinations for their workers. jonathan serrie following it all

from atlanta. hey, jonathan? reporter: neil, the u.s. is averaging more than 110,000 new cases per day, a 26% increase over the previous week. much of this being driven by the delta variant. also nearly 56,000 covid patients have been hospitalized in the u.s. that is 56,000 currently in hospitals, 36% increase over last week. the vast majority of them are unvaccinated. the handful of vaccinated people requiring hospitalization for break through infections involved mostly patients with preexisting conditions that weakened their immune systems. mayo clinic infectious disease expert predicts the delta surge will continue to accelerate especially in communities with lower vaccination rates. >> what we've seen in other countries delta seems to hit fast and hard, so this peak will probably come in the next several weeks and then we'll see a period of rapid decline.

reporter: the doctor says vaccination rates will determine whether there is another spike in cases in the winter, or whether future surges are prevented. another concern is happening right now. we're moving into the busiest weeks of hurricane season and federal health officials are worried most vulnerable states for hurricanes also are the states with some of the lowest vaccination rates for covid, potentially compounding two disasters? >> wind up having to evacuate. wind up staying in a shelter, don't want to add covid-19 to the list of dangers you will be confronted of the. reporter: president biden urging gulf coast residents, states like florida, texas, alabama, to include covid-19 vaccination as part of their hurricane preparedness plan. neil. neil: jonathan serrie, thank you my friend. to one of my favorite doctors throughout the pandemic. he calls it as he sees it. keeps politics out, genius,

dr. bob lahida doctor of autoimmune and infectious diseases. doctor, great to have you. >> great to he you, neil. neil: waiting for the fda to write off on one of these vaccines, presumably pfizer, next month. how important is that in the scheme of things to get more folks vaccinated? >> when i ask patients, i asked people around the area, including employees of the hospital, what is your biggest problem in getting vaccinated, what is the hesitancy. they say well this is not an fda approved vaccine. but that should not, with education and knowledge, that should not be a stumbling block because this has been proven in over 1.6 billion doses given around the world of the vaccine and we have seen an incredibly efficacy which we would not

expect if these were defective emergency use authorization vaccines. i don't think that should be an excuse but it is an excuse that people use. neil: you know, i wondered if, i am sure it will be a very strong plurality, no matter who is endorsing it, giving its stamp of approval, we'll never get vaccinated. many go back to saying we're very close to that herd immunity anyway. i don't need to do this, what do you tell them, doctor? >> well, i tell them that is not the case. for example, in the south, where we worry and correspondent just mentioned hurricane season is upon us, can you imagine being stuffed into a gymnasium or conference room because of extraordinary win and rain and not knowing whether the person next to you who may or may not be vaccinated can give you the disease? so you, this is a double-whammy or if you want, a perfect storm coming and the president has warned everybody about this. so this is a major issue.

herd immunity is not going to be achieved when you have something like 97 million people who have not been vaccinated. this is essentially a pandemic of the unvaccinated. neil: so companies are apparently trying to force the issue, not all, a good many of them and the president will work hard this week trying to get them to demand that their workers be vaccinated, in the case of cnn. they're not vaccinated when think said they were firing them, what do you think of all of that? >> well i think it is tough to invade people's privacy. people have a right to make decisions about their own lives. we have seen people in the hospital, on ventilators, mouthing the fact that i don't care if i'm dying, i'm still not going to get vaccinated. that is an incredible statement right there and i don't understand how people's brains work f you have something that can prevent your death, why not go out and get vaccinated? the side-effects are not off the

wall. they're not going to kill but the virus itself is going to kill you. so i just don't understand it, neil, i maybe will never understand why some people are that way. neil: what we do understand these spikes in cases to your point, doctor, the fact now it is sort of you know, lumping in the unvacs unvaccinated with the vaccinated absorbingawaying masks indoors, all students returning will have to wear masks, what do you think of all of that? >> well students below let's say k-12 in high school, those above the age of 12 should be vaccinated. these are children. now the children depend on the parental consent but certainly the teachers and ancillary services in all the elementary and high schools should be vaccinated but in mississippi, for example, there is a tremendous breakout of over 1000 students in some of the school

districts when they went back to school that had begun to spread the delta variant. this is very, very scary. we're seeing a lot more young people, neil, who are affected by the delta virus. we're going to see this throughout the country. i think if you're running a university, you can mandate the students to get vaccinated. if you're running a hospital, you can do the same thing. i'm not so sure school systems within the country can mandate their small children to be vaccinated. we have of course have to go through the parents. the parents are not always the most cooperative. neil: but could kids be carriers, doctor, those under 12? >> absolutely, absolutely, neil. they could be carriers. this is a very highly transmitted variant. all you need one kid in a classroom an everybody else can be infected within hours. including the teacher if he or she is not vaccinated. neil: so real quickly to that point, do you expect a surge

this fall as more and more kids return to school? it is already happening down south? >> yeah. i'm afraid so, especially those states where the vaccination rates are very, very low. they are going to be in warm, not necessarily in the south but in the north we're going to maybe see a resurgence because everybody will be packed together in warm classrooms, in schools. god knows what will happen then with those who are not vaccinated. even those who are vaccinated are of concern. they will be less ill than those who are non-vaccinated. neil: you know, doctor, i told you this, many, many times, i do admire you, i know a lot of my colleagues say the same about you. you call it as you see it. your number one drive is keep people safe. there is a concept. keep the politics out. build up on the facts trying to tell people, my interest to see you well and alive. every single visit with everyone of my colleagues and myself, that has been your agenda.

that is a pretty impressive agenda. i appreciate that. >> thank you. neil: dr. bob lahita, he will tell you if you visit him you're overweight and you're fat. you got to lose weight. so he is not perfect. more after this. ires squealing] just think, he'll be driving for real soon. every new chevy equinox comes standard with chevy safety assist including automatic emergency braking. our retirement plan with voya, keeps us moving forward.

hey, kevin! hey, guys! they have customized solutions to help our family's special needs... giving us confidence in our future... ...and in kevin's. voya. well planned. well invested. well protected. [sfx: radio being tuned] welcome to allstate. ♪ [band plays] ♪ a place where everyone lives life well-protected. ♪♪ and even when things go a bit wrong, we've got your back.

here, things work the way you wish they would. and better protection costs a whole lot less. you're in good hands with allstate. click or call for a lower auto rate today. that building you're trying to sell, you're in good hands with allstate. - you should ten-x it. - ten-x it? ten-x is the world's largest online commercial real estate exchange. if i could, i'd ten-x everything. like a coffee run... don't just sell it. ten-x it.

♪♪ (vo) the rule in business used to be, "location, location, location." now it's, "network, network, network." so you need a network that's built right. verizon business unlimited starts with america's most reliable network. then we add the speed of verizon 5g. we provide security that's made for business and offer plans as low as $30 per line. more businesses choose verizon than any other network. we are open and ready for you.

♪. neil: all right. he is down to what 13 days as governor of new york before we have to step down. then of course everyone asks what does, what does andrew cuomo do after that? bryan llenas following the story from the beginning with more from albany. what does the governor or what is he planning to do in these next couple of weeks, do we know? >> neil, good afternoon. we don't specifically know what he will do. there is a lot of questions why he needs to put in a two week notice in the first place but we do know he will be preoccupied with a number of investigations. in fact, he is under multiple criminal investigations.

the albany sheriff looking into misdemeanor charges for groping. the fbi is investigating his alleged coverup of nursing home covid-19 deaths. the new york attorney general is investigating whether he misused state resources to write his five million dollar pandemic memoir. all this and more is also the subject of the state assembly's five-month long ongoing impeachment investigation which was set to wrap up at the end of the month. the democrat controlled judiciary committee is meeting on monday whether or not they will move forward with impeachment. >> thighs are these are serious charges, we need to come to a conclusion. whether that conclusion is impeachment, whether that conclusion is just a report, whether that conclusion says the governor did something wrong here, nothing wrong here i think the public and the assembly deserve a report from us. reporter: now in a statement republicans on the committee say they are committed to completing the investigation. quote, we intend to hold governor andrew cuomo accountable on behalf of his

victims including the 15,000 innocent lives lost in nursing homes. impeaching cuomo could bar him from running for office again and it would make him just the second governor to be impeached in new york's history but yesterday cuomo framed his resignation as a decision made for the good of new york. >> it is a matter of life and death government operations. and wasting energy distractions is the last thing that state government should be doing. reporter: lieutenant governor kathy hochul will be holding her first press conference at 2:00 p.m. here today here in albany. she will become the first female governor in new york's history. remember, neil, she called the allegations against governor cuomo, quote, repulsive and she did say she agreed with his decision ultimately to step down. neil? neil: bryan llenas in albany. that, bryan.

to guy lewis, the former u.s. attorney on the possibility of the governor impeached after he leaves office. they did that with donald trump. he staved off that effort in the senate but sometimes, guys i understand that the push is to make sure that the guy can't run for office again. it failed in bringing down donald trump after he left. it likely would fail here if it never happened but what are your thoughts? >> i think you're right, neil. i don't think they're going to move forward with articles of impeachment, referring it over, setting for trial. i don't think they have time. secondly i don't think they will put in the work. i look for something in terms of look, he resigned. we adopt the findings of the attorney general and i suspect that they will want to move on and try to get this behind them. neil: you know, this is weighing more into the policy part of this than the legal issue here,

guy. there is always a possibility that cuomo could come back and run for that term that was cut short in 2022. he joined likely a crowded field but the blemish of impeachment or even the threat of impeachment tends to weigh on individuals who have been through it. now you could say that bill clinton survived it, grew even more popular after the fact but that is more the exception than the rule. what do you think that future then is for governor cuomo? >> i think that's right, neil. i think the next two weeks frankly, on the state dime, paying his lawyers, which given as bryan said, they are racking up investigation after investigation and my bet is that one or more of those investigations are going to result in charges. so if i was representing, let me

just put my defense hat on, if i was representing the governor i would be out speaking to the victims and their lawyers, their lawyers as quickly as possible to try to resolve this. frankly issue apologies to them, to let them know that he is sorry and to encourage them to move on. because frankly, neil, if the victims themselves aren't in the sheriff's office, aren't in the d.a.'s office demanding prosecution, then that may weigh heavily on the d.a.'s decision whether to go forward. otherwise, neil, the next would weeks, the next two months, frankly the next two years, the governor is going to be consumed with prosecutions and civil lawsuits. neil: i wanted to pick your brain real quickly about a comment i heard a critic of the governor saying, i don't want him there for two weeks. got knows what he would be up to

and trying to do? let me ask you what could he do in two weeks that worries his critics? >> great question. so let me put my prosecutor's hat back on, neil. as a prosecutor i would be worried about him either destroying documents, emails, or through inappropriate means, having contact with witnesses and or victims. so as a prosecutor i would be reaching out and saying, look you're going to have no contact, zero contact. you're to say all documents, including emails. i would frankly ask that the state turn those over now, his computers, his iphones, his laptop, everything because i need to look at that and use that potentially as evidence in the upcoming prosecutions if they occur. neil: if they did, if he were trying to destroy that, is that

illegal? >> absolutely. obstruction of justice. in fact you want to walk your way into a federal investigation, a serious federal investigation? that is going to have teeth in it and that is going to bear fruit, start destroying documents that are subject to either a subpoena or documents that you know the authorities either need or want or are going to use in the course of a federal or state investigation. serious, serious business, neil. neil: but he would have to know that that, he is getting that kind of attention from people who fear he will do just that. so he won't do just that or does he. what do you think? >> i got to tell you, look, two days ago the governor was saying this was all a bunch of ma harkky, it was baloney. he was denying it. anything inappropriate. he was denying that he would step down or even remotely thinking about it.

and all of sudden in the snap of a finger he is saying that he is innocent but at the same time for the good of new york, which i don't frankly buy, but for the good of new york i will step down and move on. neil: got it. always learn a lot, guy. former u.s. attorney who can endure idiotic questions by the most idiotic anchors, that would be in case me. but he is patient fellow. florida not really patient with this one, they're seeing a tropical storm barreling down on them. the whole state of florida is potentially in its potential path. what to make of fred after this. ♪. (vo) while you may not be running an architectural firm, tending hives of honeybees, and mentoring a teenager — your life is just as unique. your raymond james financial advisor gets to know you,

your passions, and the way you help others. so you can live your life. that's life well planned. usaa is made for the safe pilots. like mac. who can come to a stop with barely a bobble. with usaa safepilot, when you drive safe... ...you can save up to 30% on your auto insurance. usaa. what you're made of, we're made for. get a quote today. ♪

♪ ♪ ♪ ♪ ♪ ♪ new projects means new project managers. you need to hire. i need indeed. indeed you do. when you sponsor a job, you immediately get your shortlist of quality candidates, whose resumes on indeed match your job criteria. visit indeed.com/hire and get started today.

neil: taliban is taking over more of afghanistan but in the white house briefing today all

we get they're closely watching the deteriorating afghan security situation, leaving it at that it will not disrupt the timetable for our troops eventually out of there, matter of weeks. dave sears, former seal team six commander. i am always happy when dave is on remote because i can ask him tough questions whereas if he was in the studio he could beat me up. i'm always grateful for that. dave, in all seriousness, thank you for your service to this country. what do you make of what is happening to that country, to afghanistan, what is already happening, our troops are not formally pulled out yet? >> right t will continue to degrade. it's a terrible thing for the afghani people. it is not necessarily a terrible thing for us. this was to be anticipated. the taliban was kind of held at bay. the fact after 20 years they're able to make this surge, grab this amount of territory very

quickly shows you some of our efforts were not the best. and so the afghan people have to decide if they want to step up, fight and right now their decision appears to be only for the major cities and hopefully the hosts. neil: i'm old enough to remember the collapse of vietnam. at the time you know, president ford was saying ultimately it is up to the vietnamese to take this fight just as so many of his predecessors had said. the vietnamese weren't really up to the fight. there is growing concern whether the afghans are up to this fight, whether the government is. what do you think? >> i think all indications right now the government is not up to this fight and, the taliban actually did this years ago and made a pretty quick surge but the country, drawing parallels, there are some useful parallels between this and vietnam and some other situations. that said however, it's a very tribal, clan-based society there

and so i think you're going to see degradation where taliban captures power in the cities but the rural areas are going to be controlled by warlords and local leaders. you already see the afghan, president ghani reaching out to up in the north to try to hold maziar sharif, some of these different places t will go back to a warlord society. unfortunately that means years and years of ture mill in afghanistan to come. neil: when i spoke to pentagon spokesperson kirby yesterday, it is taliban's best interests to work with the international community, do just that, work with the international community but they are playing grantly flaunting that, continue to take over even as we remove our last few men and women there. they don't seem beholden to winning support from or working with the international

community. what do you think? >> no, i don't think they do at all. right now they're on a path to what they consider victory. so they perceive it as why should we reach out? now prior the taliban was propped up very, very much by pakistan. so they're going to try -- pakistan. they were propped up a little bit by russia. now russia in the last two weeks they held exercises in this week tajikistan and last week in you beck stan, specifically directed at the possibility of fundamental islam and extremists coming across the border. so russia is very concerned. pakistan also has the development of the pakistan taliban. very confusing, taliban, same name, but different sort of entity. so they're going to be concerned about that. that came about officially in 2006. so a lot of these guys will have concern. the question is going to be can the taliban get money and

support from pakistan that kept it in power before. i think that is in doubt. neil: we'll watch it closely. dave sears, thank you, former navy seal team six commander. the president echoed without any doubt after 20 years there, if the afghans can't get their act together, they never will. they're hopeful but at that point they're gone.

... comcast nbcuniversal is investing

in entrepreneurs to bring what's next for sports technology to athletes, teams, and fans. that's why we created the sportstech accelerator, to invest in and develop the next generation of technology that will change the way we experience sports. we've already invested in entrepreneurs like ane swim, who develops products that provide hair protection so that everyone can enjoy the freedom of swimming. like the athletes competing in tokyo, these entrepreneurs have a fierce work ethic and drive to achieve - to change the game and inspire the team of tomorrow.

neil: all right, maybe all of this for folks who aren't vaccinated to get vaccinated, it's paying off. right now the white house is saying that the country is starting to see some leveling off, wasn't giving specifics of covid-19 infections in states that have been seeing a surge of their at least 11 states that you might recall that had been reporting at least 1 million cases including california, texas, new york, new jersey, pennsylvania, florida, illinois, north carolina, michigan, signs right now that some of the vaccination push has been working and that more are getting vaccinated. they're hopeful that amid the fda approval of the vaccine particularly pfizer's vaccine will boost those numbers even more, we shall see. insurance so you only pay for what you need. how much money can liberty mutual save you? one! two! three! four! five!

72,807! 72,808... dollars. yep... everything hurts. only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪ ♪all by yourself.♪ you look a little lost. i can't find my hotel. oh.

oh! ♪♪ this is not normal. no. ♪♪ so? ♪♪ right? go with us and find millions of flexible options, all in our app. expedia. it matters who you travel with.

neil: all right, we've got the dow and the s&p right now in a record territory, nasdaq not so lucky, but we've got you covered because there are a lot of cross currents especially those that fall this hour, including hillary vaughn on the push in washington to ramp up the irs that's a crucial area to finding funding, lydia hu on inflation, it is back and with a vengence kind of didn't

leave, andy lipow on oil and why we are begging opec to increase oil production, if we're not necessarily doing it here and one of my favorite market reads of all-time, serve en guilfoyle, and to horizon, hillary vaughn first from capitol hill, and looking at the irs again, huh some reporter: senate democrats making the case you've got to spend m to make money, part of the way they want to pay for this $3.5 trillion budget bill is making sure that people like you, like me, like everybody else, is paying their taxes. a group of senators including elizabeth warren, sheldon white house and bernie sanders wrote to the irs yesterday complaining that money for a beefed up irs was left out of the bipartisan infrastructure bill, saying this , "the irs maybe forced to go without the additional funding and the tools it needs to catch tax evaders and tax cheats. it is now more important than

ever that we include investments in the irs and fair tax enforcement in the budget reconciliation package." president biden wants to spend $80 billion to beef up the irs to tax to catch people cheating on their taxes and also wants to double the size of the workhorse , wanting to hire 87,000 new workers over the next decade. the americans for tax reform, a conservative group is blasting that idea saying this , "this would allow the irs to audit and harass small businesses and american families for an additional 787 billion. it would hire enough new irs agents to fill national parks twice." democrats argue a super sized irs will empower them to go after the super rich dodging their dues the treasury inspector general though investigated this and found that the irs was not doing a good job of singling out the ultra rich at all saying this. "the irs does not make the taxpayer's income a high priority when prioritizing which

cases to work. instead, it places more significance on other factors such as the dollar amount of the balance duet and republicans , of course, against this idea, neil, argue that it is small businesses and the self -employed that are single filers that are also going to suffer because of this , because they look rich on paper. neil? neil: hillary vaughn, thank you very very much want to go now to lydia hu in monticello clair, new jersey. she's seen firsthand the effect and the impact of higher prices. lidia? reporter: yeah, hi, neil. we're getting that consumer price index data fresh in this morning showing about 5.4% increase year-over-year for all products that's about the same rate that we saw last year. what is slowing is the month-to-month rate. that's coming down to about half a percent for july down from almost a full percent in june, but as we tease apart the data we're learning more about certain categories of products

that are still costing consumers more and what's standing out are appliances. appliances are on the whole costing about 5% more than they did last year, but for major appliances, like refrigerators and freezers, consumers are paying 12.3% more for these products than they did a year ago. now, neil, manufactures are setting the prices and as their costs go up they are passing those costs along to the consumer and one of the things that they're doing is they are eliminating the annual sales and promotions and discounts that you see typically around the holidays so if you take for example, this bosch dishwasher last year it would have cost about $894 with a $50 rebate. this year, no rebate and it's going for about $999. >> it's hard to be a manufacturer these days because the costs have gone up. by and large, the prices are not going to come down. once the manufactures have absorbed these costs, it is very

difficult for them to give up the cost structure, so unfortunately, this is going to be here to stay. reporter: and neil, the industry experts say that the appliance industry is pretty rigid once the prices go up it's very hard for them to come down so they expect to see higher prices, inflated prices the rest of this year and for at least the first half of next year. neil? neil: lidia thank you for that. time to go to the sarge, steven guilfoyle. last week, i was amazed that if investors were worried about these inflationary up-tick, they had a funny way of showing it stocks were up last we spoke, up even more today at a record for the dow and record for the s&p 500 so how do you explain that? what do you think? >> well, i mean, there was positive information in this mornings record for the consumer. i mean, we saw the transportation prices are passed. we saw the used vehicle prices

are past peak. there was stickiness, utilities, new vehicles, but energy prices were very high in july. they aren't going to be so high in august, so the ball might not look like it at the headline. the ball is moving in the right direction. now, we are still going to run into future fiscal policy that we can't really predict. future monetary policy that we can't really predict so what you have to do is separate your thoughts into different categor ies, make little plays for each and every category, and try to manage them the best you can moving forward. neil: what do you tell, i know you're pretty renowned stock picker, but for those who look at the market averages, that says all right, sarge, i want to invest in a proxy for the nasdaq 100 or the nasdaq itself, or the s&p, and when you're at lofty levels is that a good strategy? >> well, you want to avoid certain areas. right now tech is taking a beating so if you're in tech you probably think it's a very down

day. you probably want to have, i have a lot of material stocks in my portfolio because that's an infrastructure play. i have a lot of what you'd call low end retail plays that's my inflation play. i still have my covid play, i still think covid is going to hurt us so i'm still in the abbott, pfizer, moderna, and i still have a steeper yield curve play also. those are my four primary plays. neil: let's talk a little bit about the environment we're in, the argument typically has been certainly among republicans that the more government spends the more inflation is going to be a problem. of course we've been pretty wreckless spenders under democratic and republican administrations the last decade- plus, we've not seen much inflation. i know there are other reasons for that and the federal reserve playing a crucial role forcibly keeping rates at zero and buying everything it can possibly buy to force the issue. how long does that work? >> it works, well its worked longer than we thought already as economists for the last 30 years or so.

i think the genie is a little out of the bottle. if jerome powell, we all know he kind of wants to be a hawk but he's afraid to go there. he tried it in 218 and it didn't work and he had a big fight with the president, we know jerome powell probably wants to normalize monetary policy but that's not going to fit with the democratic agenda. brainard has been very outspoken and i'd say she's campaigning for the top job and she fits with president biden's agenda much more, so, if we were to go ahead with some of this fiscal policy, at the size that we see in the newspapers, and if there were to be a change in direction at the leadership level of the federal reserve, that's where i think we run into a real inflationary problem. neil: interesting. so, if powell is bypassed for re uping his job at the fed, how would the markets respond to that? >> you know, inflation hits all areas, including asset classes, so the market might look like might really like it from a

nominal perspective but your dollars might actually mean less there might be less worth what they were a year ago, two years ago, 10 years ago, 100 years ago , so while the indices would go higher and it might look like a continuation of the bull market, those dollars might not quite mean to the average investor what they did. neil: you know, you just quietly very calmly dropped a little bombshell there on the virus and the situation there. you don't think i'm not putting words into the mouth, necessarily out of the woods here. what's your biggest concern, that these spikes gain traction, that what's going on globally with these shutdowns, restrictions, continue maybe longer. what's your anxiety? >> probably the one thing that bothers me the most that concerns me the most moving forward is that we have an entire nation of under 12- year-olds that are not vaccinated and they are all going back-to-school.

that is, for me, the greatest threat to our economy right now, because in many states they are going back-to-school as of all was normal and all is not normal and in many states some there's even i don't even know how you can make an argument against masks and against vaccinations, but people do, and i don't, i think this is, if there were to be an epidemic, among the 12- year-olds and under in this country, i think it be the worst thing that happened to us since i can remember. i think as a nation, we would weep. pete: so you think it could be that bad, the longer they go, un vaccinated, we can't vaccinated kids under 12 at this point, that could be a ticking time bomb for us. >> i don't know if, i'm not projecting that. that's my worst fear. that's my worst case scenario, and that would shutdown local, regional, not national but up to regional economies, and who knows what gdp be at that point, but gdp will be the least of our concerns our children be sick.

neil: all right, but update again on the inflationary thing, you're not, you're still concerned about rising prices but the pace of those jumps has and you're quite right, has begun to slow a little bit, but still going up, but not as smart ly as it was, right? >> i'm encouraged by how the inflation is evolving, by what parts of the economy is showing inflation and what parts of the economy have stopped showing inflation. it does play into the fed' transitory narrative. right now, the narrative that they've been hitting us over the head with and we've been making fun of them, right now their narrative actually looks quite feasible. neil: but the reality is that wages are going up too, at about a 4% clip, but inflation read by the cpi year-over-year at a 5.5 per per clip so we're making more money but we're spending more money and there eventually comes a point for consumers to say i don't like that. >> that's where some of the stickiness will come from. we're not going back to 2% inflation.

in my head, i see inflation somewhere between 2.8 and 3.5% when all the dust settles. neil: interesting. stephen thank you very much for joining us. i always learn a lot, stephen guilfoyle, can he read these markets he zigs when others zags , and neither does my next guest when it comes to energy prices, andy lipow oil associates president, andy follows the global oil market very very closely and you know, andy, right now, there is a battle back and forth, if you think about it, with inflation and it did start technically with oil that spread to other areas. oil has been relatively stable of late. what do we make of that? >> well, i think the oil market continues to wrestle with on the one hand whether there's going to be continued lockdowns due to the spread of a covid variant around the world, and on the other hand from opec plus' ability to continue to restrain

production, and while they have agreed to restore production that's going to take another 14 months through september of 202e seeing world oil inventories continue to decline, giving us support in the price. neil: you know what's kind of weird, seeing as the administration started out, putting down the keystone pipeline, that now finds itself, i wouldn't say hat in hand, andy , but urging in the strongest possible terms for opec to ramp up production. clearly, looking at opec to ease whatever pricing pressures could build. what do you make of it? >> well, i think that the irony is not lost on the oil market that you have an administration that really wants to limit the amount of fossil fuel use and on the other hand, they are delaying and being very stingy

on giving drilling permits on federal land and encouraging the use of renewable fuels and here now that the price of gasoline has remained over $3 a gallon, it's about $1 a gallon higher than this time last year of inflation is a worry, and now they want opec to do something about it and solve the problem. neil: don't markets read that and bid up prices as a result? >> well, i think that's why you're seeing oil prices have remained resilient, if you will, around the $70 a barrel level, because once again, they are looking at opec can return supply to the market rather quickly, but they've decided not to do that, and on the other hand, they are really looking at a pretty good rebound of gasoline and diesel demand here in the united states, and that's what we've been wrestling with over the last three or four months. neil: yeah, it's interesting. andy thank you very much, uncanny read of these markets, l

ipow oil associates president he was on this from almost the first administration just telegraphing what could be coming down the pike. also, keeping you up-to-date on other things that are speaking like crime. its gotten so bad in oakland, california, some leaders there, democrat and republican alike, are saying we've got a state of emergency on our hands. after this. [engine revs] ricky bobby, today the road is your classroom. [engine revs] now let's go borrow a boat and make some bad decisions. [engine revs] time to go incognito.

[zippers fasten] [engine revs] i love you, ricky! i love you, cal! what's the next stop? it's time for your extracurriculars. ¡vámanos, amigos! woo-hoo! it's time for your extracurriculars. we did it again. verizon has been named america's most reliable network by rootmetrics. and our customers rated us #1 for network quality in america according to j.d. power. number one in reliability, 16 times in a row. most awarded for network quality, 27 times in a row. proving once again that nobody builds networks like verizon. that's why we're building 5g right, that's why there's only one best network.

that building you're trying to buy, - you should ten-x it. - ten-x it? ten-x is the world's largest online commercial real estate exchange. you see it. you want it. you ten-x it. it's that fast. if i could, i'd ten-x everything. like... uh... these salads. or these sandwiches... ten-x does the same thing, but with buildings. sweet. oh no, he wasn't... oh, actually... that looks pretty good. see it. want it. ten-x it. yum! we have to be able to repair the enamel on a daily basis. with pronamel repair toothpaste, we can help actively repair enamel in its weakened state. it's innovative. my go to toothpaste is going to be pronamel repair.

in business, it's never just another day. it's the big sale, or the big presentation. my go to toothpaste the day where everything goes right. or the one where nothing does. with comcast business you get the network that can deliver gig speeds to the most businesses and advanced cybersecurity to protect every device on it— all backed by a dedicated team, 24/7. every day in business is a big day. we'll keep you ready for what's next. comcast business powering possibilities.

neil: forget about defunding the police. how about addressing the spike in crime and calling it a national state of emergency right now, in oakland, california that's exactly what's going on. the latest with more, claudia? reporter: hi, neil. well, oakland has always had a rough reputation but this latest brazen attack has one community there blasting the defund the police movement, and demanding that the governor send in reinforcement and now this attack happened on saturday afternoon in oakland's chinatown neighborhood. surveillance video shows two

suspects wearing hoodies trying to steal a woman's purse when two other men step into stop it one of the assailants pulls a gun and opens fire. the good samaritan gets shot in the arm and leg and can be seen slumping to the ground. his friend in the white shirt gets into a tug of war over the purse. he was pistol-whipped by the second assailant. they are both expected to recover. oakland is seeing a surge in violent crime, carjackings up a whopping 95% over this type last year, homicides up 51%, and robberies up 14%. chinatown leaders are demanding the governor take action. >> we request that you, governor newsom, declare a state of emergency, and hire patrol and other state law enforcement officers to restore safety for citizens, businesses and property. reporter: so far no response from the governor's office and

those two suspects are still on the loose. by the way, neil a former u.s. senator, barbara boxer was recently a crime victim herself in oakland. just two weeks ago a couple of thugs pushed her down and stole her cell phone. they haven't been caught either. back to you. neil: yeah, to your point, claudia, thank you very very much for that. all right, we have a lot more coming up including what seems to be a record pacing day for stocks. certainly for the dow and the s&p 500 but also a strong day for cryptocurrencies. what's behind that? after this. >> ♪ i need a hero, i'm holding on for a hero until the end of the night ♪

as i observe investors balance risk and reward, i see one element securing portfolios, time after time. gold. your strategic advantage.

neil: all right, we already knew that the new sec chief has a thing about policing cryptocurrencies in the whole arena saying it's long overdue in the wild west of this technology, those days are over. charlie gasparino was way ahead of that but he's finding that that's not the only agency looking at sort of policing these guys, and this technology. right now everyone is piling on, right? charlie: it really is the biden administration, neil, is literally at war with itself over how best to regulate crypto , as this business grows to a $2 trillion business, as you notice, bitcoin is off its lows. there's an interesting behind the scenes war going on between the securities and exchange commission, the commodities futures trading commission, which is people thought to be the lead agency in regulating crypto and the crypto business, and maybe the consumer finance protection board, which was

ironically an agency helped created by elizabeth warren back in the day after the financial crisis that and warren right now is behind some of this turf war and we'll get into that a little bit. again, a turf war is being released among these agencies and they are fighting to see who could be the lead dog in the crypto regulation fight. it's very interesting this came after elizabeth warren's call for more regulation and what i'm hearing and what sources are telling the fox business network is that she's essentially aiding gary gensler, the head of the sec, to give the sec additional powers to go after crypto. right now, they don't have enough regulatory power to go after crypto. crypto is still not considered what's known as a security. it can betrayeded but there's really no underlying value like a stock or a bond, so that puts the sec in a very difficult position. it can't regulate the whole industry. it has to regulate just very narrow pockets of it but from what i understand, she is helping him to try to go to congress and possibly get that

additional regulation, and that has angered people at the cftc who believe that it's purely their turf. these are commodities, they're not securities, they should be the lead dog in this fight, so interesting thing. i think one if you were a crypto person, worried about regulation , neil, one of the positives here is like when you have three bureaucracies fighting with each other, the consumer financial protection board, which has very broad regulatory powers if you have three guys fighting over jurisdiction, maybe nothing gets done for a while. we should point out that we called the people at each of these agencies. nobody, we got no returns for calls for comment, other than the them telling us they are getting a ton of complaints about crypto scams and they are monitoring those , so this is interesting. it's a big business. this has wall street is watching these developments. i can tell you that every hedge fund i know is involved in crypto. this is a big deal, who gets to regulate and how much they

regulate, and you know, watch legislation coming out of congress because elizabeth warren is pushing for legislation, and you know, she's friends with gary gensler. that's her person at the sec so you can see why the cftc is worried that she's tilting the scales to the sec's direction on this , neil. back to you. neil: charlie, thank you for that, and if this is worrying those who invest in cryptocurrencies, again, they would have a funny way of showing it they are all up last month recouping about a third of the ground that was lost. brent leonard joins us right now , blockchain ceo, very big in bitcoin mining, the process by which a lot of these bitcoins are entered circulation. you know, i was thinking of you and fascinated with your background and how you looked at this as a promising avenue before many did and low and behold i'm reading usa today today and there's this , you know, full push among

millennials in particular diving into the crypto craze. does that worry you when it gets to be that frothy? >> yeah, so i mean, it's unbelievable what's happened. obviously you guys have seen it as well, and kind of what he was talking about earlier as far as regulation and things like that. everybody that's in the crypto space, they'd be lying to you if they didn't tell you they knew it's coming and good regulation would actually be pretty good when it comes to crypto because there is bad scams, there is bad things, but what i think happened is like they mentioned earlier is this is going to become a $2 trillion business and maybe potentially a $10 trillion business and when it gets that big as far as financial markets across the country it's almost in essence too big to fail and good regulation can work good but that's just going to essentially in my opinion just prove the legitimacy of where crypto is going in the future. neil: i get the impression though at least that the sec chief had his way, he'd kill this in the crib and to your

point it's no longer in the crib it's at the toddler menacing stage. i'm just wondering if it's too late to shut it down. if that indeed is his goal, but what do you make of it? >> yeah, i agree 100%. i think it's too late and when you have some of the most powerful people in the world and now wall street is into it which i think is almost eliminates the sec or anybody else from stopping it, but also, some of the biggest companies worldwide, you have countries adopting it. i think it's only a matter of time and it's a shift because we haven't seen this ever in the financial systems and so -- neil: when you say, i'm sorry, grant when you say wall street, you're talking about the push for etf, that sort of thing, investment vehicles through which you can capitalize on this , of course that needs sec approval itself, and in this environment, wonder if they get that but what do you make of it? >> for sure, but also hedge funds, right? so now hedge funds are opening

up, and we're investing into it and it started off three years ago it was just the crazy people in the internet, right? and what happened now is people like mark cuban and a whole heck of a lot of other big time people were completely not necessarily against crypto, but they didn't think it was legitimate. they didn't think it was here to stay, and it's so interesting that those exact same people who were smart business people realized, do you know what? i think i was wrong and i think this is here to stay and i think it has a tremendous amount of power worldwide. i had told the story to someone just recently. i was trying to make just a $5,000 purchase which is a decent purchase, but my debit card was declining it, even though i had enough money on it, it just said it couldn't do that amount but at the same time i could send bitcoin, ethererum or any other digital currency to anywhere in the world within five minutes instantly without having to go through any different banks or anything like that, so that the power of it and i think it's going to go worldwide even more and i think it's here to stay. neil: what is holding the price

of all of these cryptocurrencies back? now, they appreciated from their lows but they are still in the case of bitcoin not exactly at the 60-plus thousand it was at at the start of the year. is it this concern where this is going because offsetting that are companies like amc saying we'll accept payment in bitcoin, or these bitcoin atm's emerging that's giving it some sort of street credit but how do you play this out as an investor? >> yeah, so i look at this as if you look at bitcoin cycle, these big drop-offs is no surprise, so if you got a new crypto investor, it is about the most scary thing ever but when you're investing into crypto, in my opinion, it's completely different than invest ing into the stock market and what you got to do is if you're going to invest in it, you have to be investing in the long run, because if you just look at just sure valuation , i think bitcoin just cleared a trillion dollar valuation. it only matches goals which i'm not sure exact goal i think is

at $9.5 trillion total market cap. if it only matches that market cap, that would put bitcoin well over $300,000 per bitcoin, and so you have to think about it, obviously -- neil: so you're saying around 46 or $47,000 now per coin. >> right. neil: it has the potential of getting over 300,000 based on what a similar gold trajectory? >> yeah, just i mean, we look at it as essentially digital gold, and so if you look at just the power of it because if you look at just major fiat currenc ies like the yen, or the euro, the u.s. dollar, but when you take in effect all of the other countries throughout the world they don't have as powerful of a currency as maybe those three currencies, and maybe a few others, and so i think we're going to see the landscape of the way money works change because it's going to become way more of a world economy because you know as we can pick-up the phone and caulk to any single person in the entire world instantaneously

through the internet and now we're able to do the same with money so it's going to be interesting to see what happens. neil: what do you and how do you advice then, grant, guys who want to be like you, you were brave doing this when no one was to your credit but there are a lot of people that say oh, i can do what grant did. what do you tell them and how much money for one of the better term risk, but how you play this >> yeah, absolutely. so, for anybody that's trying to do it i would say number one, bet on yourself, two is every single questionrly any answer that you could ever r generation own it and maybe the older generation now are getting around to it because millennials are glued to their phones, glued to the internet and social media and they are seeing what's happening, so in

some form, they are a little bit ahead of the game so i'd say invest in yourself, bet on yourself, and make sure that you are taking advantage of all the new industries that are being created, and you know, staying intune with it and staying up-to-date with it and applying those things and as far as how much you should invest, absolutely do not need a lot of money to invest in crypto. i would recommend 10% or less of your portfolio or the money that you're willing to lose, i'd feel way more confident than telling someone that but on the worst case i'd say minimum 10% and just slowly buy overtime neil: you know, you're very seasoned for a young guy. you get the big picture, grant it was great talking to you thank you very very much. >> thank you, neil appreciate it and enjoy the show, thank you so much. neil: thank you. as he was speaking, cryptocurrencies and related investments were going up even further. we'll have a lot more, after this. rush hour will never feel the same. experience thrilling performance

from our entire line of vehicles at the lexus golden opportunity sales event. lease the 2021 is 300 for $379 a month for 36 months. experience at your lexus dealer. our retirement plan with voya, keeps us moving forward. hey, kevin! hey, guys! they have customized solutions to help our family's special needs... giving us confidence in our future... ...and in kevin's. voya. well planned. well invested. well protected. living with metastatic breast cancer means being relentless. because every day matters. and having more of them is possible with verzenio. the only one of its kind proven to help you live significantly longer when taken with fulvestrant, regardless of menopause. verzenio + fulvestrant is for hr+, her2- metastatic breast cancer that has progressed after hormone therapy. diarrhea is common, may be severe, or cause dehydration or infection. at the first sign, call your doctor, start an anti-diarrheal, and drink fluids. before taking verzenio, tell your doctor about any fever, chills, or other signs of infection. verzenio may cause low white blood cell counts, which may cause serious infection

that can lead to death. life-threatening lung inflammation can occur. tell your doctor about any new or worsening trouble breathing, cough, or chest pain. serious liver problems can happen. symptoms include fatigue, appetite loss, stomach pain, and bleeding or bruising. blood clots that can lead to death have occurred. tell your doctor if you have pain or swelling in your arms or legs, shortness of breath, chest pain and rapid breathing or heart rate, or if you are nursing, pregnant, or plan to be. every day matters. and i want more of them. ask your doctor about verzenio.

♪ when i was young ♪ no-no-no-no-no please please no. ♪ i never needed anyone. ♪ front desk. yes, hello... i'm so... please hold. ♪ those days are done. ♪ i got you. ♪ all by yourself. ♪ go with us and find millions of flexible options. all in our app. expedia. it matters who you travel with.

neil: all right, keeping up with the virus and the ever-shifting recommendations from the cdc now stating that pregnant people should get the covid-19 vaccine as soon as possible, and the cdc saying all of this after finding that there is no increased chance of a miscarriage so the recommendation from the cdc if you're pregnant, it's fine. indeed recommended to get the vaccine as soon as possible, but the intent battles beyond just pregnant women, and those generally should be masked up whether you're talking in the classroom with students to teachers, casey stege all in dallas, texas. >> right now the governors of at least seven states have some kind of an order prohibiting school districts from creating their own mask mandates and at least two states, here in texas, and also in florida, well, the battles are going to court. harris county, or houston, expected to file suit today.

yesterday, san antonio as we'd told you joined dallas in the legal fight, challenging governor greg abbott's executive order which keeps pandemic protocols out of the local government's jurisdiction, and at the center of it all, mandatory face coverings in public classrooms. something critics of the governor argue are necessary , as the delta variant surges. >> our schools are up and going it's very very dangerous for children. just in the last month or so, twice as many children are going into the hospital as they did before. reporter: now, abbott's office saying this , in response to the challenges of his order. i'm quoting here. "the assertion that the governor of the state of texas doesn't have the authority to protect the rights and freedoms of texan s is just plain misguided." meantime, in florida, leon county schools became the latest district to defy governor ron

desantis' order, creating its own mask mandate. remember the governor' office there has said that the salaries of superintendents and school board members could be withheld if they didn't comply. president biden said he would look into alternative pay if the governor makes true on that. by the way it's estimated that about 30% of students will be back in class a cross the country by the end of the week. neil? neil: thank you, to kelly shorts the new york post editorial board member just a great writer besides jelly jane, we're just hearing now on this whole vaccine push and the delay to work thing, nbc the latest to say it's going to pushback in- person return to the office, didn't quantify an exact time but if it follows the likes of cnn it's probably a month or so , many companies are doing that. where do you think all of this is going? >> yeah, it's a good question, neil and we are seeing as you said more and more companies are

pushing back to at least october i think that, you know, they are being very careful. they are worried of course about legal issues. they don't want to be sued if somebody gets covid at the workplace, but again, the vaccines are incredibly effective. yes, there is a surge in cases but this surge and especially the hospitalization, severe illness andpanies are litigatio. they are being extra careful, and of course, workers have been able to work-from-home for the last year and a half. there's a lot of benefits of course to working together in the office. i was in my office yesterday and had some great collaboration with colleagues, but people can work-from-home & companies are just being more careful. they are just being extra

cautious. neil: got it. kelly jane thank you very much, i'm very sorry to interrupt you but the president is speaking right now and in fact addressing this inflation fear that is out there and the prices are getting out of control. let's listen. >> unemployment is coming down, so i would argue the biden economic plan is working, and a historic investments are on the way as well. this isn't accidental. it's a result of our strategy to get shots in arms, grow the economy from the bottom-up and the middle-out and it's the rest of the result of the american rescue plan and everything else that we've done, and it's the result of the grit and determination and really hard work of the american people , but even with all this progress, a lot of families are still feeling the pinch. tid paychecks don't go as far as they need to. that has been a reality in the millions of households all across america for too long.

that's why i want to talked to about what we're going to do to try to ease the burden on families right now, and what we need to do to help them succeed over the longer term. first, for millions of families, help is on the way right now, thanks to the american rescue plan. on friday, about 40 million families will receive their second monthly payment as part of our tax cut for families with children. $300 for each child under the age of six and $250 for every child six through the age of 17. that's money for diapers, food, rent, school supplies, fees and equipment for the child to join sports teams and dance classes, most of all, as my dad used to say it just gives a parent a little bit of breathing room. the money is a game changer, and so i would argue for some, it's fully a life saver.

economists also tell us that those kinds of tax cuts boost test scores, college attendance, and lifetime earnings for children. a win-win, and that's why i'm glad that early this morning, congress took an important step to make sure that this tax cut for families with children does not expire next year. so let's keep this tax cut going , and not raise taxes on middle class families. the second point i'd like to make is we're talking about taking action that alleviates global supply chain challenges that keep prices higher than they should be. for example, we're tracking congestion at the ports of los angeles and long beach, the largest ports in the united states, where increased shipping traffic and the challenges operating safely in a pandemic are creating disruptions. those disruptions impact everything from how much our food costs to when deliveries,

arrive, so my administration is bringing together port operators , shipping lines, labor unions, trucking companies, railroads and others, to speed up the ports operations. right now, our experts believe the major independent forecaster s agree as well that these bottlenecks and price spikes will reduce as our economy continues to heal, and while today's consumer price report points in that direction, we will keep a careful eye on inflation each month and trust the fed to take appropriate action if and when it's needed. third. i've directed my administration to crackdown on what some major players are doing in the economy that are keeping prices higher than they need be. take your grocery bill. when big agricultural operations consolidate they put a squeeze on small and family farms, making them pay more for seed, paying them less for what they

produce, and raising prices on what your groceries, what you pay for your groceries at the grocery store. my executive order opens up competition in the agricultural business, gives more farmers a chance to compete, which will give americans more food choices at lower cost. fourthly. we're taking action to address gas prices as well. today, gas prices are lower than they were early in this decade, but they're still high enough to create a pinch on working families. one key thing about the infrastructure bill that just passed the senate is there are no gas tax increases. no gas tax increases. i made that absolutely clear that i would not raise gas taxes i'm glad everyone in the senate seems to agree with that but that's not enough. recently, we've seen the price of oil companies pay for a barrel of oil begin to fall, but the cost of gasoline at the pump

for more american people hasn't fallen. that's not what you'd expect in a competitive market. i want to make sure that nothing stands in the way of oil price declines leading to lower prices for consumers, so today, my director of the economic national economic council has asked the chair of the federal trade commission to use every available tool to monitor the u.s. gasoline market and address any illegal conduct that might be contributing to price increases at the pump while the cost of a barrel of oil is going down. we also made clear to opec, a major oil exporting nations of the world, that the production cuts made during the pandemic should be reversed as the global economic, global economy recovers in order to lower prices for consumers. the child tax credit, stepping into address the supply chain

challenges, my competition order s, the ftc investigation and the price gouging, these are some of the immediate steps we're taking to put more money in your pocket, and make that money go further. we also need to do more, to bring down the costs that are squeezing families month after month and year after year. we need to make this economy work better for working families in the long run. these challenges are with us long before the pandemic and before i took office, but as we recovered from this crisis, now is the moment to put in place a long term plan to build back america better. a plan that will increase opportunities with better jobs and with higher wages. a plan that will lower the every day costs that strain our budgets and our nation's families today, and long into the future. it starts with making investment s that we know will make the economy more productive and lead to more growth over the

long run. bringing down the cost, everyday costs, that have been taking a bigger and bigger bite out of middle class family's income, the expenses that parent s to keep parents up at night and rob seniors of their dignity, healthcare, prescription drug costs, child care, education, housing, caring for an elderly relative or a loved one. for those who get their health insurance through the affordable care act, the american rescue plan allowed us to cover more people at lower premiums and lower premiums by average of 40% , and my build back better plan, we want to build on that progress, or prescription drugs right now we pay the highest prescription drug cost prices of any developed nation in the world. the highest. my build back better plan is going to lower prescription drug

costs by finally giving medicare the power to negotiate the price of the drug they purchase for the american people. saving americans hundreds of billions of dollars. on top of that, my plan would add hearing, dental, and vision benefits to medicare. right now, there are hundreds of thousands of americans who need a home and community-based care services and my plan expands home care for older americans, and people with disabilities, while improving jobs and the pay for the workers who care for them. my plan will also provide access to quality affordable child care , with new and upgraded child care facilities all across the country, middle class families will pay no more than 7 % of their income for highly- qualified care for children up to the age of five. the most hard-pressed working

families will not pay a dime. today, my council of economic advisors and the office of management and budget, released a report showing clearly how my build back better plan will lower out of pocket expenses for families. for example, a family with two parents who together earn $85,000 a year, they have an adult daughter who lives with them and attends a community college. they care for an elderly parent who needs arthritis medicine, which costs $5,500 out of pocket each year, and an eye exam, get a new pair of glasses. under our build back better plan , their daughter will be eligible for two years of community college free. that will save them $2,400 a year. that's like a $2,400 tax credit. in addition, i should say tax cut, not just credit, in addition, my plan would cap out of pocket expenses and costs for

their moms and dads prescription drugs, saving that family another $2,400 a year, and this new vision benefit under medicare would pay for that eye exam and new glasses and lenses, saving $450 a year. all told, my plan would save that family making $85,000 a year $5,250. and the build back better plan is going to save your family a lot as well. now, there are a number, there's been a lot of misleading talk which is no surprise i guess, about what i'm proposing in my build back better agenda. it's not a short-term stimulus. it's a long term investment in american families. our republican colleagues have argued that long term investment s in physical infrastructure will grow the economy and reduce

inflationary pressures, and i thank them for that. they're exactly right. we agree on that. in the same time, it's true that long term investments that bring down the biggest cost that families face, housing, child care, education and healthcare, these investments will lower out of pocket expenses, not raise them. they will spur more people to work by helping ease the burdens of childcare and senior care that parents, especially mothers bear, keeping them out of the job market, and they will spread out over the decade. they will make a huge difference for families, but they will only makeup around 1% of our economy and they're going to be fully paid for. this isn't going to be anything like my predecessor whose unpaid tax cuts and other spending added nearly $8 trillion in his

four years to the national debt, $8 trillion. they didn't even purport to try to pay for their tax cuts which went straight to the largest corporations and the wealthiest americans. the investments i'm proposing will be fully paid for over the long term by having largest corporations including the 55 corporations that paid zero federal tax last year, the super wealthy begin to pay their fair share. they will make a lot of money but pay their fair share. that means, actually will reduce the national debt, improve our fiscal position over the long run. my build back better agenda is fiscally responsible, fiscally responsible way to reduce the cost for families. in fact you're hearing economists across the board confirm this. moody's has said, quote, worries that the plan will ignite, this

is moody's now, will ignite undesirably high inflation and overheated economy is overdone. nobel prize-winning economist joseph stiglitz says my plan, says, i quote, there is no conceivable way it will have any significant effect on inflation. jason furman of harvard university has said, quote, i don't think the infrastructure bill or the reconciliation plan would materially impact inflation over the next decade. so if your primary concern right now is the cost of living you should support this plan, not oppose it. because a vote against this plan is a vote against lowering the cost of health care, housing, child care, elder care, and prescription drugs for american families. so let me close with this, we brought this economy back from a cold start and there is going to be, there will be some ups and

downs but i am committed to making sure our historic economic recovery reaches everyone. this time reaches everyone. and ease the burden on working families not just this year but for the years to come. thank you, and god bless you, may god protect your troops. [reporters shouting questions] neil: you've been listening to the president of the united states talking about that 3 1/2 trillion dollar human infrastructure plan. saying that it is fully paid for. it is not fully paid for. the numbers have been crunched even on the infrastructure only package to the debt to the tune of $256 billion over 10 years. this other particular package they haven't had the time to crutch the numbers and look at everything but it is fair to say that that is exponentially going to be larger for the debt and paying higher taxes on part of

the wealthy, corporations, would likely not be able to close that. some figures put it about a trillion dollars short of that 3 1/2 trillion dollar tab. hence the argument that the president would have to widen out the tax base here to pay for it, or put some of the benefits in spending in later years. either way, it could be accounting gimmickry, too early to say. right now here is charles payne. charles. charles: some accounting gimmickry? some? neil: questionable math. call it questionable math. charles: thanks a lot, neil. how about some sourcerry, accounting sorcery? good afternoon, everyone, i'm charles payne. this is "making money." breaking right now inflation is elevated. it is slowing a bit. that was enough to give investors a sigh of relief but the question why are growth stocks struggling in this session? by the way what does it mean for federal reserve policy? companies that can pass