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tv   Cavuto Coast to Coast  FOX Business  September 7, 2021 12:00pm-2:00pm EDT

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stuart: all right, how many slices of pizza does the after american eat on average. the answer is thousand. the majority of the americans add if they had one food to eat in their lives it is pizza. neil: that is layup. thank you, stuart, very, very much. you have certainly what is happening in the markets, concern about covid. we're monitoring the president of the united states. he is visiting new york and new jersey today to check out the storm damage and something special we're doing today, with all our shows remaining this week right through the formal 20th anniversary of the 9/11 attacks, we're reminding you in bits and pieces what happened that day and progressively all the other days since. we're going back in time as
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well. what was happening on this very day 20 years ago today? the days before the 9/11 attacks themselves. so we go back, we go forward and this week on this show all my shows in fact, the centerpiece of everything we do remembering that not only great loss of the financial capital of the world but the human loss as well. reminders from so many people i interviewed leading up to 9/11 who would sadly lose their lives on 9/11. we got you covered on all ends. when we say we have you covered we have your back through crises, we have the proof going back 20 years ago this week, that would end on something that few of us foresaw but now none of us can forget. very good to have all of you with us, thank you, very, very much. after this labor day weekend, of course keeping track of the president of the united states as he travels to some very
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hard-hit areas of the northeast where the death toll is now at 52. a good many of them in the states he is visiting today. let's go officers to alex hogan in manville, new jersey. alex? reporter: neil people on this street in manville, new jersey, say they lost everything, everything in their homes, everything they worked for, now covered in mud, mildew and mold sitting on the side of the curb. very emotional their personal belongings. the floodwaters reached up to the second floor of some of these homes, forcing residents to crawl on to roofs forcing police to make rescues by boat. one resident remodeled their home two weeks ago. all they saved inside was a backpack of their childrens clothes. >> where is the help? we had a couple people come in and give us water and you know like food, where is the help?
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there are 300 people, 300 families, they don't have a place to stay. and you just go to the red cross, whatever, just call this number. so where is the help? reporter: president joe biden's helicopter touched town here in manville. he left with governor phil murphy, he plans on asking the question about getting federal supports for six more counties impacted by the storm. press secretary jen psaki telling the press today that the president is open to approving more disaster declarations to hearing whatever governor phil murphy needs. in new york there are also tapping into federal resources. the state says that it has at least $50 million in damage. president biden will stop in queens today, one of the harder hit boroughs where 13 people died in the city, most of them in basement apartments. city officials say teams will go door-to-door to make sure people have all of the resources and help they need.
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here in new jersey 27 people across the state died. most of them were in their cars, swept away. they drowned. of course here, people say they're thankful to be alive but the remains what they had in their homes, devastating, emotional and painful loss. neil? neil: alex hogan, thank you very, very much for that. all of this started of course along the gulf coast of louisiana and they are still trying to dig out from all of this. power slowly but surely certainly to the new orleans area. that is where we go with jeff paul with the very latest from there hey, jeff. reporter: neil, electricity is starting to flip back on here in new orleans, estimating it to be fully restored by tomorrow. we'll see if that happens but i can tell you we're seeing a lot of power, phone and other utility trucks all throughout the city working to get this area back on its feet. unfortunately you go outside of new orleans it's a much different story where the rebuild process is going to take a much longer time to get
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through. part of that is because building supplies right now are in short supply. we don't have things like lumber and steel readily available. on top of that prices are higher. so repairs will take longer. on top of all of that you have deficiencies involving the lack of skilled labor to come into communities like louisiana to fix the homes that were destroyed by hurricane ida. the good news though, that we are hearing is that the mayor of a major city like new orleans said immediate essentials like food and fuel are becoming easier to fine. >> more and more places are coming on like, critical spots like grocery stores, gas stations enable more of our people to get what they need, we're seeing throughout the state restoration happening there. reporter: while new orleans might get its powerfully restored tomorrow, which is wednesday, hundreds of thousands of people surrounding area
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impacted by hurricane ida do not have power. some estimates say a few days, weeks, like areas like grand isle, didn't have one home that wasn't damaged it could take months to get things back on track. neil. neil: jeff paul thank you very much for that. whatever you think of the horrific storm, the dramatically improved bipartisan infrastructure package getting through, perhaps by a lopsided margin for that but too soon to be sure. chad pergram following all developments on capitol hill. chad. reporter: neil, this is the most significant month for democrats and president biden as they try to pass the infrastructure bill and the $3.5 trillion social spending bill. the president today surveys damage from the remnants of hurricane ida in the northeast. he and other democrats are using the storm to underscore the need for the infrastructure bill.
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>> [inaudible]. reporter: [inaudible]? reporter: some gop members will back the infrastructure package but not the $3.5 trillion social spending plan. >> today's national democratic party is a bun. of socialists. this bill, this bill, $3.5 trillion bill is their signature event. reporter: that means democrats must cling together to advance the big spending bill but the president doesn't have as much political juice as he had a few weeks ago. his approval rating dipped below 50%. >> the problem is once you drop under 50% no one is afraid of you. people within the party are emboldened to take you on, to disagree with you. it is harder to exert control over the party. reporter: after afghanistan,
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democrats also know they can't give their own president two losses in a row. sometimes that brings a party closer together. democrats must also wrestle with funding the government this month and increasing the debt ceiling. house speaker nancy pelosi was non-committal how to handle that when i asked her this morning. she only said, quote, they have several options. neil. neil: thank you very much for that. todd access reporter at white house whether the president's declining popularity will make it more of an uphill battle for him. in light of the storms at least on the bipartisan infrastructure package that has done more to help them on that front than anything else, right? >> the clock is ticking on that bipartisan package, right. whether you call it 1.2 trillion or 500 billion. what the moderates in the house, moderate democrats i should point out, neil, they think they have a firm fast agreement, that move, that vote will go forward on september 27th.
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that is their argument. when you talk to those nine, 10 moderates, they say the best way for democrats to maintain the majority for them to get that infrastructure, bipartisan bill passed. the problem a lot of other progress serves want a much bigger vote, that is the 3.5. that is in so much doubt this morning given manchin's op-ed, given everything pelosi is saying on the hill. there are real questions how you get that bigger bill across the line and then there is an open question whether or not that jeopardizes the $1.2 trillion bipartisan bill. it is very complicated right now. we'll see what extent everyone has a really busy september, trying to get everyone on the same page. neil: we always talk about presidential approval ratings, hans, how it impacts legislation to through. president trump, who was never super popular bipartisan president he was able to get the big tax-cut package. along party lines. but i think sometimes people
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jump to conclusion if the president's poll numbers aren't great the odds of his getting what he wants aren't great. what do you think of that? >> i think that is fair, right. members of congress like to get reelected. they will look at their rational ability to get reelected the president part of their party they're supporting doesn't have high approval ratings you expect some divergence. this is the polls how biden doing is in the centrist lawmaker districts, front liners? there is polling out all from last night, admitted republican group, it is generally well-respected shows what extent biden's figures and numbers are collapsing in districts represented by democrats where they're going to be facing on the ballot two years, november of 2022. look at those district by district polling again you got to be careful on the polls, neil, you have to look at sample size, how much does it actually tell us but those are the ones that will be real bellwethers.
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there is talking to the lawmakers from those districts. will you support 3.5? is 3.5 trillion too much or too little? that is where we'll sort of figure this out in the next two or three weeks when congress, some members in town, some members aren't. that is really where we get a good, firm understanding whether or not 3.5 is going to fly. neil: for the president, these visits, you know to new york and new jersey today, hans, this is something that obviously most presidents prefer, not the horror and aftermath of the storms but they can control that process more and look like, not only commander-in-chief but the consoler in chief. tough role. most presidents play it very well. some say george bush got bad press handling katrina. be that as it may, it is good to
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be made there. >> chris christie, before the election, president obama up to the state to take a look, look at damage. white house at that time president obama, he canceled a rally he had in orlando because of the hurricane was coming up. he was supposed to appear there with bill clinton there is bipartisan consensus if they're there doing disaster relief correctly, actually on top of it, the images are the images that you want it is good for your overall standing for all the reasons you just enumerated. neil: all right, hans, thank you for catching up with you. at the white house, "axios" reporter extraordinaire. we're getting news out of apple i want to pass along to you. it is planning a september 14th, event, no doubt announcement event which would include the new iphone you have been hearing so much buzz about, a hint of something big to come presumably would be a new iphone. apple has been in and out of day by day all-time highs, telegraphing excitement for this
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event. apple indicating you won't have to hold your breath much, much longer. it is slated for the 14th of september. meantime i told you at the outset of the show we are looking back to of course the 9/11 attacks that we remember somberly on saturday, formal 20th anniversary of the attacks, they were set in motion by an event that occurred almost a year before. talking about the attack on the uss cole and the commander who got his first taste of what terrorists were planning to do again and again. that commander is next.
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hey! it's me. the longer you've been with us... the more rewards you can get. like sharpening your cooking skills with a top chef. join for free on the xfinity app and watch all the rewards float in. our thanks. your rewards. ♪. neil: all right, all of those extended job benefits formally end today. for a little more seven million americans they will have to find a job. that is the argument republicans had been making had it not been for extended benefits they would have found a job and employers would be in better shape. so would those potential employees. we'll find out right now. jeff flock in illinois with more on all of that. hey, jeff. reporter: lots of jobs out there in need of people to fill them. you can imagine the moving business is one of the industries that is tremendously labor intensive. a lot of people have been moving during the pandemic.
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finding enough workers has been a huge issue for people like, a company like minimoves. john, the president and been in the moving business how many years? >> just over 35 years. reporter: never harder to find workers. >> very, very tough this time with the pandemic. there has been a, an influx of additional moves simply because no one was moving during the pandemic. corporations were freezing relocation of their transferees. now in 2021 it is really difficult now with all of the activity we have. lack of labor. reporter: going to say, lack of labor. you're hopeful with end of additional benefits, by the way, neil, we talk about, what are the benefits? there was four different separate programs, one for gig workers, part-time workers typically not eligible for unemployment. there was an extension of benefits, longer time. there was a supplemental payment of $300. mixed earnings got another $100.
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that left a lot of people at home. >> right. it sure did. as a company we were very aggressive in terms of retention bonuses, recruiting bonuses, incentives internally to keep employees intact. did a lot of things outside of that as well. reporter: last question, are you worried that this won't have an impact? because "wall street journal" did an al nays of the states that ended unemployment benefits early, they found there were no additional really workers coming in. people were still staying home, maybe for concerns about health or whatever, their kids, who knows? >> i think that plays a role. we're optimistic though about you know, chicago area bringing people in to work. we're, we've got good incentive programs. as long as we practice the incentive programs and we preach them we'll be fine this fall. reporter: optimism, neil. they got workers here working at the moment as you can imagine. they do a nice job by the way. if you're moving, i recommended these guys. wrap everything up, get scratches on them, good work, as
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far as i can tell. neil: certainly looks that way, thank you, jeff, very, very much. let's go to michelle schneider, market gauge managing group director. michelle, this is good storm for potential workers seeing benefits phased out, because a lot of companies like jeff profile are eager, happy to hire, are very generous with that. we have amazon and apple, fidelity among those companies promising to hire tens of thousands of workers. it is a pretty good environment. what do you make of it? >> well, certainly there is a huge shift as a result of what's happened with covid a lot of hospital tallet workers, that scenario, that has really been hit hard in terms of finding labor, these people now, at homeworking with amazon in fulfillment. there has been that shift. there is a shift into retail investors. sheer numbers alone, paypal
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announced they have 320 million people are ready to do stock trading if they start that platform they're talking about. then on top of that, people still don't want to go back to work at all, whether they have benefits or not hoping they will be some if the variant continues to be a factor. so all of this is affecting industries but not big corporations like you say. in terms of finding new incentives, yes, but keeping old labor there. on top of that we had two million people retire early, some very high qualified people f you put this all together with corporate profits being the way they were over this last quarter, really strong, they have zero incentive to lay off anybody for sure. obviously they're looking to hire and hopefully they get some people on board as a result of this. and all of this sounds great unless we see a change going forward. that is something we've talked about which is where is the growth going to come from as we go into the final quarter and
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then into 2022? of course with all this wage increase, what happens with the whole idea of inflation or worse, stagflation. so that is kind of what i'm looking at going forward. neil: got it. michelle, thank you. michelle schneider following all of these developments. michelle put it in a nice perspective where we stand right now. a lot of people worry and do a lot of hand-wringing right now but nothing like we saw some 20 years ago as we look back, all the concerns would we ever recover not only from those attacks but there was a time even before the attacks we had the same fears, looking back then at what set the stage for the most historic nightmare in american history. whoever committed this heinous act today, if the gist was not only to cause tremendous physical damage and obviously tremendous loss of life, they have also cut the financial capital of the world to the core. it will not be open for
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business. indications are now we're told from the new york stock exchange officials they will try for thursday morning at the normal time. keep in mind this will affect global trading because everything pretty much hinges on the big boy in town, new york. no indication as of yet how far or extensive the damage was, or people we routinely had on this network, my show over the past five-years of this network, many years before that are even alive. so when these huge institutions which play a vital role in the world capital markets are not being heard from you always fear for the worst, you hope for the best, you fear for the worst.
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♪. neil: there is a new government taking form in afghanistan and a new prime minister, all key positions are now in taliban hands. trey yingst is following all of that in doha, qatar, with the latest. hey, trey. reporter: neil, gadd afternoon.
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the taliban does now have a caretaker government. many familiar faces. no women, and a lot of leadership from the taliban's pre-9/11 era. this does come as u.s. officials were visiting qatar today. both secretary of state antony blinken and u.s. defense secretary lloyd austin meeting with their qatari counterparts to discuss the issue of afghanistan. the biden administration will have to lean heavily on the qataris to have a critical link with the taliban, and open up some of the lines of communications. the pair held a joint press conference to discuss the u.s. withdrawal and thanked qatar for their efforts to evacuate americans and afghanses. the big news is still on the americans stucked in afghan city, maziar el sharif. the state department says they don't have the plan any fest on the charter planes. small number of americans are waiting, but the taliban is willing to allow those with
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property documents to leave. he says this is not a hostage situation. take a listen. >> we're not aware of anyone held on aircraft in any kind of hostage situation in massar el sharif. we have to look at different requirements that is it what we're doing. reporter: tension rises in the afghan capital of kabul. hundreds of took to the streets to protest against pakistani influence in afghanistan. they chanted death to pakistan. taliban fighters responded by firing into the air to dispurse the crowd. given how things are playing on the ground in afghanistan, i asked secretary austin what leverage the united states still has over the taliban to keep americans safe as he was walking out of that press conference in doha, he simply looked at me, but did not respond. neil? neil: trey yingst, thank you, trey, for that. this all must seem like deja vu for kirk lippold, the former
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uss cole commander. a lot of you might not quite remember the cole. i'm sure the commander gets tired of me constantly explaining its significance as he tried to do with many american presidents by the way, not only back then but right through today. but that attack, you know, led by terrorists was the first warning sign we got that there was something we should be paying attention to. the commander that was trying to make sure the clinton administration at the time recognized the severity. extended into the bush administration. that attack left 18 u.s. sailors dead. the commander devoted his life to make sure nothing like that is repeated. commander, always good to have you and thank you. we learned a lot about that attack and lines that drew it even to pakistan and these network of terrorists that almost work without borders but now we're getting reminded terror again as the taliban takes hold of afghanistan.
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it must seem eerie to you? >> well, neil, you're absolutely right and it is deja vu when you think about it the attack on the uss cole occurred, that was really the first attempt by al qaeda to take away our nation's ability to defend our national security interest. up until that point they attacked buildings that house and represent u.s. interests, that was the first attack to take away from our defensive capabilities. the interior administration in yemen pretty much gave free reign to move things around the country. the boat used in the attack. the explosives used for the attack. the ability to set up safe houses within aden. the taliban government, given one of their people, haqqani of the haqqani network, a u.s. designated organization he is now the interior ministry. which means he controls who can
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move and go about the country and where. which means he can set up terrorist cells. he can set up terrorist training cams. he will allow them to private and be able to get contract call things necessary to do terror strikes against us which he has done for years in the killing of americans in afghanistan. that is a scary development in the building of this new government. neil: you know, command, you've been asked many times to go back to the day of that attack in october 2000. there were warnings, a lot of intelligence at that time this was something higher-ups feared could happen, down to an attack on a u.s. naval ship early as july and august of that year. just like there were warnings that terrorists could use commercial jets to attack the u.s. it seemed unfathomable then. up ahead to 9/11, unfathomable then but what happens to these kind of warnings? >> neil what really happens is
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the intelligence community tends to literally get so focused on what they think is probable instead of what might happen. the chances of us, we had never anticipated, prepared or trained for a water-born improvised explosive device. while there were warnings that al qaeda was targeting navy ships, most people took it, okay, that will be put it in the context of the time like iranian bog hammer with 50-caliber machine guns and rocket-propelled grenades. what we worry about today, as people start to buildout into afghanistan, as this government is being formed, we need to ask the question, who are they giving safe haven to? what are they allowing them to bring into the country that will do our nation and our citizens harm? how could they possibly carry it out? because eventually we need to start following not only the money but the capability as well. we need to track what these other middle-eastern countries, whether it is pakistan, whether
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it is iran, whether it is saudi arabia, who is donating money to support the taliban and why, what are they doing with that money that is going to be a danger to our nation? that is one of the key things we really have to look at for the intelligence community now and allow them to have the time as analysts to think outside the box. neil: you know i'm just curious that we can relive that day, i know it is tough, commander, in this small glorified rubber boat dinghy lack of a better description, did your men and women have any idea, i learned in retrospect, a lot of vessels would come to and fro with the u.s. and dock in the region, think nothing of it. relive that day, exactly what happened. >> well, neil, what happened is, contrary to what a lot of press reports said it was not a be arerrized dinghy like a zodiac
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boat raised across the harbor and rammed us that was a common reporting point t was a boatfilth to look like the garbage barges came along the ship. we contracted for three. two came out picked up trash. the other two left. what should have happened one comes back out to do clean-up. when the third boat came out to us, actually looked like the other garbage barges, center console, out board motor, two guys stood up and waved at the crew that morning. as it went by, one of the sailors said to himself, boy, something not right, that something in his mind's eye was awful clean for a garbage barge. they built the explosives into the boat. they attempted another attack on a navy ship nine months before us, that failed and that is how that boat got inside of the security perimeter next to us. it looked like a garbage barge. stunning how effective they were pulling this off. neil: did you have any idea what this would set in motion at the
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time, commander? you were certainly warning about it? >> neil, all i can say i knew it was going to be big. i knew it was to have huge ramifications for not only the united states navy, initially, obviously, my crew but also the united states navy, how we approach putting ships into port from that point forward. it would have ramifications for the navy. but the mind set of our nation at the time was, non-state actors, like al qaeda, are criminal elements and we need them to be treated like that. allowing that to happen, we did not comprehend that al qaeda had state sponsors that allowed them to be able to work in an environment where they would finance, they could recruit, where they could get arms and train and i think now a days we need to look at the larger picture as a nation and i will flip it, i would even make the argument today, stop thinking of all these cyber criminals in terms of non-state actors in
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taking down with ransomware, malware and others. we need to start looking at those having state sponsors in russia, north korea, china and start holding those nations accountable because on the cyber front, businesses across the spectrum today are being affected by them. eventually it is going to really affect not just our economic interests but our national security interests as well. neil: commander, thank you very much. reminding us that sometimes evil is around us, we're just not picking up the cues. kirk lippold, the man running the uss cole at the time, warning presidents of both parties, this is not over that was then this is now. something we're doing all this week on this show, remembering what was, including this day 20 years ago. we were following the movements of those 19 hijackers in the country. we just didn't know what they
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were planning. no one was really quite putting the dots together. otherwise we were focused on other developments like the u.s. government approving chevron's bid to buy texaco. at the same time u.s. justice department announcing it would not seek the breakup of microsoft. those were the big stories in the financial press. the other big story? robert mueller, remember him, he was three days in to being the new director of the fbi. he had little idea what was to come under his watch. after this. psst! psst! allergies don't have to be scary.
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neil: president biden in manville, new jersey, today. will go very soon to new york city, particularly the queens area. flooding is biggest part of this. most those who died, 52 in the
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northeast, drowned in homes, basements were flooded, or in their cars as cars were flooded. my next two guest fortunately survived but their business is underwater quite literally having dealt with this. kyle and david are the co-owner of the speaker circus in in manhattan. gentlemen, very good to have both of you. how are things now, kyle? >> it is still basically the same. we're waiting for formalities with insurance and things of that nature. so the store is still in ruins. neil: really? david, explain what happened. >> well, it was, it was a hurricane the other day and where our storefront is, kind of like a lower level, kind of like a basement kind of area. since the whole area we was in was flooded up to people's niece, every time a car drove by, it would create a wave that would smash into our storefront.
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eventually the windows gave in and smashed through our gate. all the water that was left on the floor level rushed into our store. pretty much cleaned out the floor area. everything is destroyed at the moment. neil: oh, man, i can imagine. i'm glad you guys are all right. you can get rebuilding here but it is going to be tough, isn't it? kyle, looking at it, you have to get all new product. youyou have to clean up the area itself. this could take some time, right? >> yeah. we're looking at 2022, maybe like spring to get us back. maybe a new location where we won't have this type of problem again because, a lot of the sneakers and stuff that we had real rarity. it was a long search and personal collections and stuff we got from consignment. so it is going to take some time to get us back and running,
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we'll hopefully be back next year. neil: i have no doubt you guys will be. david, you had a lot of loyal customers, you're not just selling some cheap knock-off sneakers or whatever, this is stuff that is generally hard to find. can you find it again? can you find a lot of this stuff again? >> well, actually some of the stuff we'll probably never get again. it was like real rare items. we had baseball cards, memorabilia, stuff like that. since it is consignment a lot of people bring it in, they trust us with their stuff. and now you know, the things are ruined, our stuff is ruined. so a lot of stuff we'll probably never get back but we'll slowly try to get everything back little by little and get back how it was originally but it will take some time. neil: well i know you guys can do it. i'm glad you're both physically well. it could be a lot worse. i have a feeling you guys will be back in business soon enough, kyle, david, thank you guys, very, very much. hang in there.
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>> thank you for having us, appreciate it. neil: thank you. just before we go to break i want to bring an update out of texas, governor greg abbott, as expected signed that controversial election overhaul bill after months of protests, remember all the democratic legislators flew out to avoid and prevent the governor from getting his quorum to get at least voted on. it has been voted on and it has been passed and the governor just signed off on it. we'll have more after this. iden. before investing consider the fund's investment objectives, risks, charges and expenses. go to flexshares.com for a prospectus containing this information. read it carefully. what makes new salonpas arthritis gel so good for arthritis pain? for a prospectus containing this information. salonpas contains the most prescribed topical pain relief ingredient. it's clinically proven, reduces inflammation and comes in original prescription strength. salonpas. it's good medicine.
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♪. neil: all right. no sooner had a lot of schools reopened for the school year that the a lot of them are shutting down at this point. i kid you not. 33 states shared information with us in some parts they have closed schools because of spike in cases and/or not everyone honoring mask requirements. it gets kind of in the weeds here but lydia hu has the very latest from nutley, new jersey. lydia? reporter: good afternoon, neil, of 33 states more than 1000 schools have shut down their classrooms, at least temporarily as they are managing issues like covid outbreaks among kids. we know that particular issue is the worst in some of the southern states as they are seeing some of the highest incident rates of kids with covid in the country. now adding to this struggle,
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neil, is a nationwide teacher shortage. we know as of august, the country was down about 220,000 education workers as compared to pre-pandemic levels. and we know that that teacher shortage is presenting an impediment to reopening classrooms in some districts. for example, in elizabeth, new jersey, that district is starting the school off remotely because they don't have enough teachers. another in iowa, the nampa school district there, closed classrooms for extended labor day weekend because too much teachers called out sick and they don't have enough substitute teachers. meanwhile the debate around masking in schools are ongoing. there are 17 statesman dated students must wear masks in the classroom. new jersey is one of them but here, a group of parents have gotten together to file a class-action lawsuit to challenge the state policy. hearing on the lawsuit amidst of
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all the issues percolating we see a rise in homeschooling across the country, nearly 2.6 million students have stopped traditional school and started homeschooling since the start of the pandemic. that is according to an estimate from bellwether education partners. that means more than five million students in this country are homeschooled which is about 11% of households. neil. back to you. neil: lydia, thank you very, very much. keeping track of that, news as well on the pfizer booster shot you heard so much talk about, maybe starting in september 20th, if they do start then, pfizer will be pretty much the only game in town as likelihood of moderna, certainly j&j having anything similar available at the same time, well not likely. get to dr. kevin campbell. kroc consulting ceo, physician, cardiologist. always good to see you. do we need the booster shots, doctor? >> the best data available says it is important to get the
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booster shots eight months after your last shot. if you're particularly high-risk group, such as someone immunosuppressed, canner, diabetes, heart disease, lung disease, get them closer to six months. the data is pretty convincing. neil: what about kids getting vaccinations? i mean dr. fauci among others has been push forge that. where are you on this? >> i think it is very important that all the kids who are 12 and older that you know, there is an fda approved vaccine for them should be vaccinated. we notice almost 25% of the new cases in the u.s. are in those age groups, 12 and under, 12 to 18 group and unfortunately there was about 38,000 new cases in kids according to the american academy of pediatrics back the last week of july. now the week before labor day, almost 200,000 cases in these kids. neil: i was noticing, doctor, this labor day weekend, overall hospitalizations are double what
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they were same weekend year ago. what is going on here? does it worry you? >> it does worry me. what we're seeing the delta variant is so dominant now, so transmissible, particularly harmful to those who have not been vaccinated. we're seeing widespread delta variant in unvaccinated population. it is overwhelming the hospitals. we can't get to patients that need us. neil: what about this new one, one,nu? it was one case reported in l.a. 49 states they're saying they're dealing with it, should we worry about it? >> i think the jury is still out on that one. what we know about mu, in a laboratory, petri dish, it seems charactertics that make it more transmissible and more resistant. it is watchful waiting. we don't have enough data. a virus' job whole job in life in biology is to replicate to
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adapt to changing conditions. that is why we see all these variants f we had higher rate vaccination, less likely to see new variants. neil: got it. dr. campbell, great catching up with you. very good to have you, sir. dr. kevin campbell. we've been telling you all along here we've been following events certainly on the terror front now versus then. we know about 20 years ago what was happening. timing they say is everything but these pre-tile hearings for some alleged 9/11 plotters, resuming at guantanamo this week. among those participating is khalid shaikh mohammed. he was the so-called 9/11 mastermind. he was reportedly seen smiling, jovial move in his first court appearance. the latest how all of that is going down, as well as the five gitmo detainees in court after this.
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we did it again. verizon has been named america's most
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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. ♪♪ neil: last week it was louisiana, today it's the president of hillsborough township, new jersey. later on he's going to be in queens, new york, taking a look at the fallout and damage from hurricane ida. it was much worse nonnortheast than it ended up being -- in the
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northeast. the president's declared both states, you know, emergencies and federal help is on the way. governor phil murphy with him there, later on the new governor of new york will be joining him to tour the damage in queens, new york. edward lawrence on what the president is offering to get them to dig out. >> reporter: the president's offering all kinds of assistance. the fema director is also there sitting just to the left side of the president there. that meeting currently going on with the president now. the media's left, the president now talking to a number of mayors and what they need on the very local level in terms of support from the federal government. now, from fema right here. the president will be talking about the remnants of hurricane ida as well as, you know, the impacts long lasting. now, he will, as you said, move on from here to get a tour of the area around new jersey, then he'll be going to queens, new york, later this afternoon. so the video that we see of the
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kinds of damage that the president will see in hillsborough township, new jersey if, you're seeing right there. the president making it political saying the damage is from the effects of climate change. pushing for every $1 investment in climate change, it can save $6 down the road but, again, no specifics on exactly what was measured. >> every part of the country's getting hit by extreme weather. and we're now living in realtime what the country's going to look like if we don't do something -- we can't turn it back very much, but we can presvelte it from get -- prevent it from getting worse. so we're all in this together. >> reporter: and the governor of new jersey asked the president to expand those disaster declarations to more of the counties in new jersey. the president amenable to that. now, fema awarded $170 million already to 1599 ,000 disaster survivors -- 159,000 disaster survivors, the agency has given out $4.7 million in loans in
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louisiana alone. on friday the president went to louisiana where the full force of hurricane ida hit. now, he was criticized there for using a cheat sheet that had the names of local officials as well as some talking points. former press secretary for former donald trump kayleigh mcenany any says their team used to make those same cards for the former president, but he would leave those in the airplane as he went to talk to officials, remembering their names there. again, the total damage from the south all the way through the northeast is estimated by act cue weather now at $95 billion. back to you, neil. neil: edward, thank you for that. well, if you can't get back to business, how about helping the people who are going to get the power back on to help you get it back on. jessica, how's it going? >> it's good in our area.
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the guys are working really hard. there's still a lot of places in louisiana that don't have power, but we're helping as much as we can. neil: god bless you. i mean, you didn't have to do that. what made you do it? enter well, we initially had heard of a bunch of the line workers not having anything to eat, so we initially sent a message saying, hey, if we can make little snack bags, we can pass them out. and the next morning as i was getting ready to do that, someone told me they had nowhere to sleep, they had seen some of them sleeping in their vehicles and on the sidewalks, and i was, like -- so she actually recommended, do you have space. we have a 9,000 foot gym, so of course we have space. the response from the community was absolutely insane. neil: you know, these are the kinds of nice stories you like the hear when everything's hitting the fan, everything seems to down and people like you come along to try to, you
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know, get things going and turn, you know, the whole thing upside down. what are they telling you now, jessica, about where things stand not only around you, but in the state? i understand congress slowly coming back, but there's a big old mess to come back. >> it's a terrible mess. we were able to get out of the springfield/killian area yesterday x i've never seen anything like it in my life, and i've lived in louisiana for a very long time. i just know this is going to take a whole lot of dedication and help from the community pitching in, but these men around here are doing a very good job, so we're grateful for them. neil: good luck in all of this, jessica stott, her own business impacted by all of this and said, you know, maybe i can make something good happen of this, and that's what's happening. the lights are coming on and so is business too because of people like her. thank you, jessica. want to go to hillary vaughn because there's the political side of this and how politicians
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try to help out after this, of course, they spend money, right? they spend your money, and that's something that's always a president's prerogative, to make sure that the aid is there and right away at that. right now where do we stand on all of this, hillary? >> reporter: hey, neil. well, there is a big chunk of money in the $3.5 trillion reconciliation package that would help address the adverse effects of climate change which, as you heard earlier in edward's reporting, the president has placed the blame on climate change for the devastating effects and impact that we're seeing from all of these weather changes over the course of the united states. but as they are looking to get to work on the $3.5 trillion reconciliation bill, the president in the meantime has been blaming a recent bad jobs report on the delta variant, and his solution to help address issues with a slower economic
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recovery have been to roll out a six-step strategy on thursday addressing the delta variant. but his other fix is to pass the next chunk of his economic agenda telling congress to, quote, finish the job and continue full steam ahead on the $3.5 trillion in the reconciliation bill, a bill that senator joe manchin blasted last week. some in congress have a strange belief there is an infinite supply of money to deal with any current or future crisis and that spending trillions upon trillions will have no negative consequence for the future. i disagree. but the white house press secretary, jen psaki, today on air force one says manchin, as far as she knows, did not give the president a heads up on the op-ed but that the president himself does not disagree with everything manchin said. >> the president also agrees we should take inflation seriously, and many outside economists will
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tell you that these plans will do exactly that, they'll lower costs for goods for the american people over the long term. so some of the points that were made in that op-ed are consistent with what our views are and why we're pushing for this agenda. >> reporter: economists are split on how much impact ending boosted unemployment benefits benefited states that ditched the cash early. economists at goldman sachs found, quote, projecting the nationwide cutoff this month will account for 1.5 million job gains through the end of the year, but others like labor secretary marty walsh disagree. >> i think the $300 didn't have as much of an impact as everyone said it did. those states that ended enhanced benefits did not see any gains at all of people going back to work. >> reporter: and the biden administration, neil, is not worried. he thinks some of those boosted unemployment benefits would
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actually slow down economic recovery further because today they're encouraging states to use some of the money they got in the american rescue plan to deal with covid to actually keep that extra unemployment benefit in place for people. neil? neil: all right. thank you very, very much for all of that, hillary vaughn in washington. nancy pelosi, for her part, has already weighed in on congress and its options going forward particularly on the debt ceiling. we technically bridged that back in july, but they can find a way to take money from paul or peter as it were saying she had never options in the next few weeks. in case you're counting, our debt is pushed up against the limit of about $28.4 trillion, you know, give or take a couple of hundred billion, but who's counting? doug is counting. douglas holtz holtz-eakin is co. she is saying there are a number of options to deal with this.
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in the past under different administrations we've noticed they can kind of handle it as a family would handle their high priority expenses, it just has to be paid like the rent or the mortgage, and maybe less a couple of other -- let a couple of other credit card bills slide. the government does that on steroids, obviously. how long do you think that kind of game can be played though? >> i don't think you can play that game very long. we began using, quote, extraordinary measures in july. that amounts to raiding government pension funds for the bonds that are in them, and that could probably get us into october some period, but you really -- the end of the month is the time to get this done. historically it's always gotten done, we've never had the u.s. really come close to a dea fault -- default, and there's no reason to. this is something they should just get done. neil: so what if republicans just stand back and say, all right, we'll see the democrats
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handle this and let them implode. i mean, they would do that, would they? >> right now this is a game of chicken. neil: yeah. >> republicans have said they will not provide a vote. that means democrats will have to do it in reconciliation. they didn't do it in reconciliation, so they're counting on getting ten republicans in the senate. and, you know, it has to get done, and i am confident it will get done, but i can't tell you how and when. neil: you know, the fact that she, nancy pelosi, is essentially tacking this $3.5 trillion reconciliation bill and lumping it together with this -- i'm vastly simplifying it -- that's wacky, isn't it? i mean, one thing at a time and then if you want to pursue this down the road, by all means have at it. but not mix it in with this. >> there are really four things that need to get done, and in priority they would be to address the debt limit, fund the government. both of those are things that have to happen before the end of
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the month. pass the infrastructure bill that everyone agrees is a good idea and is almost home, so get it done, and i would put the reconciliation bill last and take as long as it takes to do the things that make some sense. to jam that at the front of the agenda is to get in the way of the other three priorities and lead to the potential for a big mistake. neil: you know what i always worry about, and this is, as you say, doug, going way back through republican administrations, democrat administrations, republican congresses, democrat congresses, that they all don't think the unthinkable happens. yet with just one false move, it easily could. so i'd like to, if you don't mind, talk about a default. i know it's not pretty, hopefully it's not even remotely likely, but stupid people can do stupid things. if it happens, the technical definition of a default is the u.s. government not making good on a payment, let's say a treasury or note payments, right? and then it cascades from there. >> so it cascades in a
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phenomenal, a phenomenally terrifying way, neil. u.s. treasuries are viewed as absolutely safe, and for that reason are the foundation of the global financial system. treasuries are used in basically every trade, every government transaction around the globe, and if we were to default, we would cast that secure treasury reputation into doubt, and people wouldn't use them and interest rates would go up, commerce would grind to a halt. this is a recipe for a global financial panic, something you shouldn't mess with, you shouldn't get cute with, and you shouldn't let politics take a priority over getting it done. it's on my list of things i worry about and then just pray i never really have to worry about. neil: some things that you never expect happen because people expect will never happen, that's what happens, right? i don't know if that made sense, but i think that's what i'm saying. douglas -- [laughter] always good seeing you, my friend. also the american action forum
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president, knows the numbers quite well, too well, scarily well. we've got to watch out for it, right? we have a lot more coming up right now including a lot of companies now that are saying come back to work, make sure you have your vaccine, and if you have a problem with that, just scoot down the bench because we can do without you. really? after this. 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.
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neil: all right. want to get back to your office for that in-person return to those skyscrapers in new york or elsewhere? well, word of warning from a host of companies saying better be vaccinated first, or you're not going anywhere. lauren simonetti keeping track of it all. it seems to be a growing list, lauren. >> reporter: yeah, and after labor day, neil, i thought we'd have more traffic, it was about the same. that's because there's so many different conflicting policies right now. but after labor day, billed as this great return to work -- if you're vaccinated now. goldman sachs says workers coming in must be vaccinated, that starts today. citigroup is requiring the jab for returning workers starting next month. vaccination will be required at blackrock, jeffrey's, the new york stock exchange, so the big
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banks were quick to send their white collar workers home when covid first hit, and they do look ready to bring them back each as the delta variant spreads if they're vaccinated. health insurance companies also requiring vaccinations. cigna and humana say if you're a remote worker and want to come back to the office, you need to be vaccinated starting today. you're a contractor or a pharmacist, for instance, vaccination or a negative test once or twice a week would be mandatory. still, some companies, it's very confusing, they have defter rules for different workers, and ups is an example. a advantage is seen mandate for the corporate office but not for the front-line workers. pharmacists must be vaccinated by end of november, and nothing yet for the retail associates. and today southwest begins cutting flights, 27 a day, that increases to 162 a day from
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october 7th through november 5th. why? it's responding to slower bookings because of delta, and they're also trying to fix some operational issues. i looked at the five days around labor day, we saw 9.2 million people pass through tsa checkpoints, that's 1 million fewer than 2019. and, neil, it's also down from 10.1 million for the 4th of july holiday weekend. the delta variant is changing things up and delaying a lot of people's and companies' plans. neil? neil: who would have thought at this stage, right, lauren? >> reporter: yeah. i know. 18 months later here we are again. neil: lauren, thank you. great reporting as usual, my friend. lauren simonetti. want to go to jonathan hoenig on this, capitalist pig, fox news contributor. september is the most problematic of the month, i know october gets the bad press, but how's it shaping up to you with
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all of these headwinds? >> well, so far it's not seem ising like that. you're right, we always think of october '87, september the is the only month of the year historically that's down, about 5% of the time, on average -- 55% of the time, on -- the market's been up for seven straight months, we've seen a record 30-year high in all-time highs. so by every measure, we're due. neil: you could argue we've been due for a while, right? if now we have the latest excuse to sell being these spikes and cases, year-over-year hospitalizations are running double what they were last year, so you would have something that traders could seize on to say that's proof that this, this pandemic recovery, you know, could be bumpy. and yet they're not doing that. today not withstanding, it reminds me of a pattern. >> yeah, well, neil, if you look
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at historically, often times what sets off these shocks like october of '87 isn't necessarily what was in the news. back then it was overvalued stocks. but remember, it was james baker's comments about the weakening of the dollar that precip anticipated all that panicked selling -- neil: wait a minute, you're way too young for that. how the heck could you remember that? >> you have to be a student of history to be a student of the markets, neil. [laughter] neil: you're right. >> i think in that rarefied air of this time it's different when it comes to valuations or various high-tech, this time is not different, and we can learn something from those years gone by. neil: yeah. there's great wisdom to your young years. let me ask you though, jonathan, about this view that technology is in a world of its own, because the nasdaq keeps hitting records even in the same environment what's going on there? >> yeah. neil, it's pretty surprising. i mean, we saw a switch out of a
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lot of those high-tech names into small caps, into industrials, into even real estate and pharmaceuticals, but big tech is, in effect, back. a huge move up in tesla today. apple, all-time highs. you know, these are the safe bets, if you will, the microsofts, the oracles, the sun microsystems of their day. they're also the biggest part of the s&p 500, so whenever anyone invests in that index fund, a lot of money is going into those big high-techs. high-tech is unusual, neil, more than any other industry, the leaders from one decade tend not to be the leaders in the next to the previous. this too shall change. microsoft and apple are on top now, my sense is they won't be ten years on. my two cents. neil: wow. jonathan, great chatting with you, i think. jonathan hoenig on all of that. [laughter] you know, we talk about the markets and what they can absorb, think about what they were about to absorb 20 years ago this week, of course, leading up to the attacks
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themselves. markets had yet to open, there was a debate as to how they would coordinate opening, whether they could open, and our entire financial future seemed on the line. let's go back in time and remember how much on the line. now this is a criminal investigation looking into the four hijacked planes behind yesterday's calamity at the pentagon, if pittsburgh and, of course, the two world trade center towers. the president is eager to see at least capitalism return to business as urinal, even though the -- as usual, even though when it's going to be difficult when much of it was occupied in those two towers that went down yesterday. but we are getting information from the securities and exchange commission that its preference would be for the exchange to open up tomorrow. >> rebuilding is a stimulus, and it's something we don't want to talk about in sad times, but what you have to think about is we've been through crises.
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remember the cuban missile crisis, when john f. kennedy was killed, life goes on, the sun comes up the next day. neil: we are getting word from dick grasso at the new york stock exchange that they do eventually plan to reopen, but inform how -- but in of you who -- any of you who thought it would happen tomorrow, think again. the feeling is if u.s. capitalism can't conduct business as usual, that ain't good, and kansas going to -- and it's going to rattle some investors here and certainly abroad. ♪ ♪ ♪ ♪
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neil. we're at fort meade in maryland, and this is where the government has set up a remote viewing site so we can see what's going on in that courtroom. california lid sheikh mohammed entered the courtroom earlier this morning, ksm wearing a black turban, he has a dark orange beard. he and the others are accused of designing the takes and providing training, money and logistical support. for about an hour and a half this morning, attorneys and the judge have been going through scheduling, debating whether everyone has to wear a mask and now hung up on potential conflicts of interest of the judge, the air force colonel, matthew mccall. the hearings are in recess now until tomorrow morning at 9 a.m. this is 20 years after the 9/11 attacks, 15 or years after the federal government transferred these detainees to gitmo. these proceedings are still in the pretrial phase, there have been covid delays. this is the first hearing we've had in more than a year. the prosecution and defense have also been arguing over the past
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over what evidence the government can present especially with these defendants told the fbi at guantanamo in 2007. the defense says that information is the result of coercion and needs to be thrown out. >> one of the most important issues in the case is how the torture of these men going to ultimately affect the trial. and trials mean evidence, and the destruction of evidence, the intentional destruction of evidence takes away from the defense and really the american people's information about what actually happened. >> reporter: now, these defendants are among the 39 detainees still at a guantanamo bay which the obama administration tried and failed to empty and close. the biden administration has said it plans to reduce the number of suspects held there, though there is continued opposition to closing the facility. >> we don't need a capacity to
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detain these folks and detain these individuals and not put them in the united states. >> reporter: before the pandemic a judge are had set january of this year to given the actual trial. we're still in the pretrial phase here, neil, because of a host of different delays. they're probably not even going to get to jury selection year. back to you. neil: all right. rich edson, thank you very much. rich following that case very, very closely. it's very much in the early phase. senator bill hagerty joins us right now, tennessee republican kind number to join us on connecting then with now, i guess, senator, because we're awaiting the formal trial of these guantanamo, you know, alleged attackers. at the same time, we're dealing with the organization they represented now back in charge in afghanistan. it's weird, you know? >> it's heartbreaking too, neil, because they're stronger than they were 20 years ago.
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you think about where the taliban stand today, it's amazing. they're well armed, and they're in a better position than they were 20 years ago when we went in in the first place the deal with this. i've heard from veterans across temperature. i just got back -- across tennessee, they're all asking the same question, how did we wind up in a situation where the taliban today is stronger than they were 20 years ago. neil: we learned as well today, senator, and i don't know, you know, how accurate this is, the taliban says it's squashed whatever remaining opposition that was in the northern part of the country so that they have full control of the country, caretaker prime minister, all the key spots in parliament there. i believe they're still calling it parliament, they're all taliban honchos. what do you make of that? >> well, i think it's to be expected given the vacuum we've created in afghanistan. the taliban are now in control. they're going to take every position putting some of the most hardened criminals, i think, into positions of
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leadership and authority. this is going to create a cauldron of terror, i think, in afghanistan. it's going to endanger our allies in the region. they were clear about that in my recent trip to the u.k. and to nato. it's going to put a huge refugee pressure on the region as well because i think the destabilization of afghanistan is going to precip tighten great -- precipitate a great exodus of afghanis. neil: we're getting mixed reads on those who are trying to fly out of the country by private means. they've had a devil of the time getting people out. we're told a minimum of four have, indeed, gotten out. but the problem is allegedly with the state department allowing them to be processed out. now, the state department claims that's not the case. maybe you have better intelligence than i do. what's going on here? what's holding this process up? >> neil, my staff have been working with the state department every day for weeks now through the weekends trying to get people out. we're going to have secretary
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blinken in front of my committee, senate foreign relations committee, next tuesday. i fully second to get to the bottom of this -- intend to get to the bottom of this. we still lack clarity on what's happening. the problem is we don't have any presence on the ground to address it. again, this is the precipitous fallout of a plan that wasn't well executed if there was a plan at all, and i intend to get to the bottom of that as well. neil: lindsey graham mentioned we're going to eventually get back into afghanistan, bring troops back in. do you agree with this? >> it's yet to be seen, but i'll say this: our mission isn't over until we have every american safe. we've made promises to our allies, to folks who helped us in afghanistan, we left them in the lurch. again, on my trip they were very clear with me, they said it appears to us that you've allowed a calendar rather than conditions on the ground to dictate your actions. you've allowed a press release opportunity to dictate what you're doing. they're looking at us and saying
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you're letting domestic politics drive the national security of your nation and ours. there's a tremendous amount of frustration about this. this is not the way to approach challenges like this. we still have a job to do there. now, how we go about it, we've got to get to the bottom of it very quickly and again, as i said, secretary blinken will be testifying before us on tuesday. neil: what do you expect to come out of that hear anything those hearings in. >> well, accountability is the overarching goal right now and oversight here. we need to find out what the plan is. need to press hard on having an actionable plan that will work, that will help keep americans safe, that will get the americans still trapped there out as well as our allies hawaii that's what we need to press hard for, and that's what i fully intend to do. neil: all right. senator bill hagerty, thank you very much -- >> great to be with you, neil. neil: let's go to jennifer griffin following all of this at the pentagon. this issue of who's stopping who from getting anything done has
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become, like, the latest debate here. state department says it's not causing these bumps getting them here, other private groups say it is. what's the real skinny? >> reporter: well, i think if you're talking about the situation on the ground in ma sasha reef, or neil, you have to understand the state department has nobody on the ground who can verify who is on those manifests, so there may be some americans onboard. but what i'm hearing from sources is that while there may be -- most of those people onboard are worthy and should be flown out and might even qualify for p1 or p2 visas, some might be americans, there also is no way for the u.s. government to guarantee that. and if you look at the next week leading up to 9/11, they can't be with authorizing flights to land at the air base in qatar, one of our most, you know, one of the most sensitive air bases in the middle east without knowing who's onboard those flights. so you're caught in a catch 22
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right now, and so there is -- it is a very difficult situation. when we were traveling with general milley over the weekend, we were given access to anyone we wanted to interview at three u.s. military bases in europe, germany, italy and spain where the fbi, customs and border control and ncis had agents overseeing the screening of about 17,000 gavin evacuees. >> -- afghan evacuees. >> they're doing the biometrics, check their iris, do their fingerprints, they take a full facial photo. they run that against the 20 years of databases that we have in the interagency. i'm very comfortable that, you know, these folks are being properly cleared through the fbi. >> reporter: they're being checked about three times before, with their biometrics before they even get to the u.s. >> that's right, yeah. >> reporter: we saw the screening process firsthand. we learned anyone snagged for
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drug or terrorist ties is sent to u.s. military base is kosovo is. we learned that the thousands of afghans who have been sent to the u.s. have been screened three times before arrival. most of the people we interviewed had some connection to the u.s. in afghanistan like this young boy whose father works for the u.s. drug enforcement agency, or dea. his father is already in the u.s. >> tell me how you got out. >> my father was inside the airport. yeah, he was inside the airport. that's why we are now here. >> reporter: many of those we met had been guards at the u.s. embassy or worked for various u.s. government entities. some were among the 600 afghan special forces who helped guard the kabul airport in those final days including this interpreter who we interviewed. >> i am very happy we're safe
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right now. when i was in kabul, in afghanistan, i was very afraid, a afraid of being captured by taliban. right now i'm very happy. >> reporter: this brother and sister were students. one has a full ride to the university of kentucky-louisville. we interviewed many university students like this 21-year-old student from american university of kabul who left her entire family to escape. >> it was so difficult to leave my family behind and to come, but i had no choice. my family wasn't there they wanted to come with me, all of my family, but they couldn't make it. suddenly everything was so messed up, so my family just told me, just go ask and save your life, it's already. we will stay here. >> reporter: we've also learned, neil, the cia alone helped the state department and dod to evacuate more than
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30,000 afghans who had helped the u.s. over the years or were known afghans flagged by trusted sources. neil? neil: jennifer griffin at the pentagon, thank you very, very much. as we've been telling you, the president is visiting new jersey at this hour. i believe he's in manville, new jersey. he'll be going to queens, new york, later today. he has already visited louisiana. and on that front, some disturbing news on the weather front. what do you think is in the forecast? rain. floods. in louisiana, less floods. more after this. allergies don't have to be scary. spraying flonase daily stops your body from overreacting to allergens all season long. psst! psst! flonase all good.
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♪ ♪ neil: well, the president's ida storm tour continues in new jersey right now, he'll be heading off to new york to assess the damage that we're told could get worse with still more rains expected not only in louisiana, but eventually the northeast as well. that's later in the week, but problematic, to put it mildly.
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alex hogan with what the president's saying in manville, new jersey. alex. >> reporter: hi, neil. it is just house after house completely destroyed, as you can see here on the street behind me, as president joe biden is here in manville touring neighborhoods just like this one that saw widespread damage. new jersey governor phil murphy received federal aid for six counties, and he says he'll ask the president for support for six more counties. president biden says he's here to listen. >> i'm here to see firsthand what the damage is and find out directly from y'all what is most needed. we're going to make sure the relief is equitable so that those hardest hit get what they need x. we know there's a lot more to do. that's why we're here. >> reporter: at least 50 people died across the northeast. 27 of those deaths taking place here in new jersey after widespread damage, little
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remains in many of these businesses and homes. one family brought us into their home that had been completely gutted by flood waters. they escaped through their roof with police rescuing them by boat. >> [inaudible] we don't know what to do, where to start. we have to start from zero. we lost everything. >> reporter: now, many of the people that i talked with in this neighborhood getting motional as well, saying that everything that they had, everything that they had worked for all lost after one flood, one afternoon, destroying everything that they had worked for. neil? neil: alex hogan, thank you very, very much is. you know, it may be just showing to my age, the more we look back and the more we experience stuff, the more we think back and forth, it can't be any worse than what we're going through now. twenty years ago it got much worse, much, much, much worse,
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we just didn't know it. all week we are looking back and looking forward including encapsulating each day and every day and what we were doing 20 years ago this day. you know what the big story was 20 years ago business wise? it was the federal trade commission approving chevron's bid to buy texaco. then there was the u.s. justice department announcing that it would no longer seek breaking up microsoft. robert mueller, you remember him, he was in his third day as the top fbi director. only days later his world and ours would be turned upside down. and 19 little known middle eastern men, most of them saudis, were completing a series of phone calls about arranging an event that would happen in the following week. they knew what the event was. we did not. more after this.
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neil: 20 years ago today, this was the big story in the "wall street journal." i remember covering it at the time. the government had begun ahead and -- gone ahead and approved chevron's takeover of texaco. it was hailed at the time as the
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end of the seven sisters, sort of a crash reference to the seven giant oil companies that one by one were either going out of business, merging with others and now there are just a fraction left are over. seven sisters long gone, but it was approved today, and the government was fine with it. take a look at what chevron has done since that moment 20 years ago, days, of course, before the infamous terror attacks. it has more than doubled in price, and take a look at how the dow has done by comparison. even though that looks like a heady advance of about 112%, the dow was up several-fold more. energy companies the big weakness here. the dow in that period since the attacks up close to 267%. it's a remind e as if we needed it, sometimes we're locked in the moment in a freefall and thinking that it's just going to keep falling. the one lesson we're going to be exploring as we relive these days from 20 years ago so to keep in mind that the consensus
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often times is wrong. the idea of an extended, you know, sort of a market winter, i believe as one major business publication put it, or that we would be in a prolonged recession if not depression that would cascade through the world in the financial markets around the world didn't happen. oh, believe me, they were shake isen and very much stirred. but they all came back. it is a reminder don't live in the moment, don't be too sullen when things are down, don't be too cindy do da when things are up. look at the trends. jonathan hoenig back with us, great historian, young man though he is. i remember that story vividly, i remember hearing from the texaco and chevron ceos at the time, texaco fought this like hell for a whiling then it was all over the done and we've seen countless big mergers since. but that was the big one before that big day. it's interesting, yeah? >> it was huge, neil. there was a lot of opposition to it. neil: absolutely.
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>> environmental groups, community groups, tremendous opposition to it and the real fear was, of course, oil prices would go up. who would have known eight, ten years later oil prices would actually go negative. and what you've seen is these big oil companies are have had to bulk up, neil, because they've got competition. competition we couldn't have imagined ten words ago. one word, tesla. the electronic vehicle company is giving the oil companies a run for their own money not just unlike thomas edison competed with rockefeller a hundred and some years ago. we're seeing that same level of innovation protect your companies as it did rockefeller all that way back. neil: you know, it's interesting, i don't know how you as an investor sort of play this, but some of the best ones zig while the others zag or don't fly under the consensus, but they acknowledge the im, -- the near of term impacts. the dow and the markets lost more than a quarter of their value in what would be the days
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that followed when the markets eventually did reopen six days later. but we forget not only did they reopen, eventually they soared. that the snapshot in time, it's a reminder that we get ahead of ourselves, don't we? >> it is, neil. and why, you know, you always have to have that long-term perspective when it comes to your own investment horizon. and also a portfolio that works for you. i mean, no matter what the situation is, if you're, for example, nearing retirement, you have a different portfolio than you have if you're just starting out in the world. jpmorgan said it best, neil, you have to be able to sell down to the spleening point. -- sleeping point. we know a 10-15% correction is coming, we don't know when, but if that's going to affect you too much, sell down to the sleeping point. we survived 9/11, we've survived all these calamities, we always come up on top, and america always will. neil: that is very well said for
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a how long chipper snapper. jonathan, good -- whippersnapper. jonathan just hit on a point, i've covered many presidencies, many markets, bulls and bears alike, maybe owing to my age i tend to think when everyone is worried, maybe, maybe you have to step back, remember the statue of liberty, remember what happened not too far from her and how we came back. we always come back. more after this. ♪ music playing. ♪ there's an america we build ♪ ♪ and one we explore one that's been paved and one that's forever wild . .
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♪. neil: 20 years ago this was one of the headlines that caught my attention then as it does now, the towers are gone and so too perhaps america's preeminence as a financial power. how wrong they were back then. justifiably consumed what was happening back then. optimism was sparing not to be found. reminder. keep it in mind. now, charles payne. charles? charles: neil, thank you very much and appreciate what you did all day today. took us way back. good afternoon. neil: way back. charles: i'm charles payne. yeah. this is "making money." breaking right now, folks, the major indices are struggling this holiday weekend short week rather. a little sluggish now but there are hot spots to be found including megacap names continue to be immune

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