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tv   Cavuto Coast to Coast  FOX Business  September 29, 2021 12:00pm-2:00pm EDT

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i think i'm right. i tell you why i guessed correctly. during the pandemic when you couldn't go out, couldn't get a haircut, my hair grew half-inch in one month. i'm average. i'm a very average guy. mine grows six inches in a year. >> your hair looks good for a 45-year-old. stuart: flattery is the mother's milk of television, concha, you're all right. time's up for me, neil. it is yours. neil: six inches? stuart: yep. neil: that makes sense i guess. i just add six inches of paint and away we go. thank you, stuart, very, very much. we're focused on what you've been focused on the last couple hours the dow trying to make a comeback after yesterday's rout. this seems to be a pattern, after a big hit make up for it next day. that doesn't always work. 600 point drubbing it was flat after that. came back roaring in the days
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that followed. we'll see what follows. the worry is over the course of interest rates and whether they get rip-roaring ahead. so far that does not appear to be the case. relatively contained right now but when you look at 1 1/2% or so 10-year note and remember that little more than a month ago it was in and out of 1.13%, that is a pretty heady backup in yield. following all of that, meantime the back and forth on this spending plan that democrats want to put together to pave the way for a bipartisan vote on infrastructure tomorrow but progressives are having it, after starting to tear apart the 3 1/2 trillion dollar ma far more expensive infrastructure package. if they don't get a deal on that they don't want to vote for the infrastructure which has bipartisan support. a lot hangs in the balance if we are to keep the government lights on, avoid default, all that nasty stuff.
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hillary vaughn monitoring all the developments on -- i should say chad pergram is. chad is in the next hour. hillary, tell us where things stand right now? reporter: president biden called off a trip to chicago today because the domestic policy agenda is on the verge of imploding. democrats are struggling to approve both, the infrastructure bill and $3.5 trillion spending package. there is tension between moderates and liberals. >> we can't move forward without them participating in the form of negotiation with the entire thing. not just top line members. the whole thing has to be finished. so you never know. reporter: moderate democrats expect a vote tomorrow on the infrastructure page but independent voter bernie sanders voting on infrastructure bill violates a agreement to get a vote on the social spending package. senator kyrsten sinema returns
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to the white house for meetings. senator joe manchin is at the white house yesterday. >> we're negotiating. someone has to communicate with them. >> do you have a top line number in mine? >> we haven't talked about it. i'm talking, i'm looking at the need of the country. reporter: that is what is infuriating the left, manchin and other moderates say they don't want to spend 3.5 trillion but they won't provide a specific number. two other things are also in motion. we're expecting a vote today in the senate to avert a government shutdown friday. this is a stand-alone bill which funds the government through early december. it also includes money for hurricane relief but the two sides remain at a standoff over lifting the debt ceiling. neil? neil: chad, first off my apologies. i was looking at the wrong hour. i didn't mean to confuse you. port board that's all right. i will be associated with hillary vaughn all the time. she is a great reporter. neil: my staff has to remind me, you're on, pops.
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let me ask you whether progressives would really make food on that threat to -- make good on the threat not to vote on the infrastructure only package if they don't add some closure on the far more expensive human infrastructure package? i can't see them deliberately torpedoing the president but maybe they would. >> this is why the president has meetings here because would they blow up the president's domestic policy agenda. that's key. number one. number two, two people say they eventually would have the votes. nancy pelosi has a track record of passing big bills by the most narrow of margins. jayapal indicated she has anywhere from 15 to 45 members on her side in the progressive caucus who would vote no. who is the better vote counter here? history tells us it is usually nancy pelosi. don't forget, i reported this yesterday, there are 10 or 11 republicans in the house who will probably vote yes on the
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infrastructure bill. that gives pelosi a little bit of leeway if there are some progressives who want to bolt on that bill alone. neil: but she has no leeway when it comes to the far more expensive 3 1/2 trillion dollar package, right? reporter: absolutely. neil: republicans seem united opposing it. at most she can only lose three, right? reporter: that's right, that is three vote radius. this has to be agreed to by all democrats. scott peters congressman from california who indicated they want concrete things, not academic discussions about taxes. that is where some people think we might be a little further away from actually getting a vote on the $3.5 trillion bill. it probably is less. there is a lot of discussion about what ultimately will be in that bill. neil: got it. chad, thank you very much, chad pergram on all of that. republicans are criticizing a lot of bigger spending plans being inflationary. there is raging debate in the
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economic community whether government spending immediately prompts this inflationary spiral. be that as it may, they're all dead-set against it and now cite inflation as a problem that even jerome powell acknowledges is not just transitory anymore. edward lawrence with that side of the story. concerns whether jerome powell himself is up to the job. reporter: exactly. neil, i'll tell you that all that spending that chad was talking about there, it is coming crashing into the inflation that we're seeing under the biden administration so far. to your conversation with chad, here is representative steve scalise on "fox & friends" this morning. listen. >> they don't have the votes right now and you know, we don't support something that will jack up inflation and run millions of jobs out of the country. that is what the tax hike side of it will do and they packaged it all together with infrastructure. reporter: new "gallup poll" shows americans optimism about the economy is at the lowest level since january.
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federal reserve chairman jay powell said inflation is not settling down. he said some supply chain issues are getting worse. >> this is really a mismatch and supply. we need the supply blockages to abate before inflation can come down. reporter: inflation causing a backtrack from treasury secretary janet yellen. >> i asked you to tell me what you thought inflation would be at the end of this year and you told me 2%. do you still stand by that prediction? >> clearly this year is going to be above 2%. >> what do you think it will be at the end of the year if not 2%? >> probably closer to 4%. reporter: right now the latest data shows the consumer price index has 5.3% over the last 12 months. federal reserve raised its projections in its data, 4% this
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year. president canceled the trip to chicago. that trip was to push the vaccine mandates. he is trying to get his spending plan across the finish line. senator sinema is having another meeting with the staff from the white house that meeting is happening on capitol hill that would be our third meeting with the white house in the last two days. back to you. neil: on that issue, edward, other democrats are waiting to hear what you know, sinema's number is, what manchin's number is. if it is not 3 1/2 trillion, neither is really telegraphed what would be a more acceptable final figure. do we know, are we any closer to knowing? reporter: we're not any closer to knowing. there might be background conversations about that. i can tell you the white house thrown out the idea over and over again, white house press secretary did it yesterday the president would come down on his number of 3.5 trillion and settle at a lower amount saying this is a negotiation back and
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forth but as of right now we don't know senator manchin's number. he has been saying hey, let's wait a little bit. i want to digest some of this. let's not rush into something no one has really read. neil: all right. there is a concept. thank you, edward, very much. edward lawrence at the white house. i want to go to mitch roschelle, macro advisors llp founding partner. mitch, i take a leap here, none of these get through, the infrastructure only package and big roll of the dice, five 1/2, 3 1/2 trillion dollar human infrastructure both fail. what would the market reaction would be? >> the market reaction may actually be positive because one of the things the market is a little bit on tilt right now waiting for is whether or not we raise corporate income tax rates. whether or not we raise the highest marginal income tax rate on the quote, unquote wealthy. lastly whether or not we raise the rate on capital-gains taxes. whether or not any of that could
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be retroactive. there are 2500 pages of legislation that no one has seen. i think the market is very jittery wondering about those tax policies. so it is possible, even though government dysfunction is something that the market doesn't like either, i think knowing that this gets, you know, kicked down the road a bit may be good. the other thing is, maybe inflation ebbs a bit because all of this stimulus spending in the form of these infrastructure bills could continue to skyrocket inflation. neil: so flip it around, with the opposite type of question then, mitch, both get through, the bipartisan infrastructure, only plan gets voted on tomorrow. progressives stew but let it go through, vote ited and approved, somehow concede party-line vote a deal on much larger spending package, how would wall street react to that? >> i think wall street doesn't like uncertainty and that would provide certainty. there may not be a violent reaction but i'm going back to
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what i said before on capitol gains taxes and if in fact we raised capital gains rate, it is not retroactive there would be a slew of selling towards the end of this year which would definitely upset the market. so, you know, it could be column a, column b, could be a mixture of both that will happen but it is hell week in washington. so the markets watching. neil: you mentioned the market. i want to end on a market question. dow comeback notwithstanding, in the aggregate notwithstanding big tech names are getting hammered, over the course of this month, perhaps up tomorrow double-digit percentage declines in the very names that were leading this parade, what do you make of that? >> there seems to be this correlation between interest rates and these big tech names and interest rates are going up because of inflation fears.
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then when inflation fears drive up interest rates, these big tech names tend to sell off. there is a lot of working theories about why. one of my theories is that a lot of the holders of these big tech names, because they have done so well, have borrowed money to buy those names. when interest rates go up they start selling because they don't like you know, paying margin loans at higher rates. that could be part of it, over the long run, these big tech names are winners. we're on the heels of earnings season and i think these names are going to outperform again. neil: all right. mitch i will be seeing you in a little bit. meantime i want to bring your atteion to these various mandates that are in effect for folks to get vaccinated. you heard about a lot of companies now pushing the issue, among them united airlines which is telling 600 workers who have not yet been vaccinated they could lose their jobs if they aren't. the same sort of order going out of the harvard business school
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suspending in-person mba classes after a covid increase with hints of mandates to come. that of course state and local governments pretty much across the government demanding health care workers, all the way to teachers and front line workers get vaccinated or face termination. a lot of jobs hang in the balance. why the governor of the alaska has a welcoming note to all of those facing removal from their jobs. come to my state. that governor is next. ♪.
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♪. neil: all right, united airlines, the latest corporation to say either, either you get the shot or your employment is shot. you won't have a job here. that affects all 66,000 workers across the company, but of course the focus is on some 600 or so individuals who have yet to get vaccinated there. the read from grady trimble in chicago with the latest.
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grady. reporter: neil, vaccine mandates from state and local governments to private businesses are really coming to a head this week starting with chicago based unite the airlines. hundreds of employers are being shown the door at united. 593 of them to be exact. those employees refused to get the vaccine and also didn't apply for an exemption. another roughly 2000 employees applied for religious and medical exemptions. their fate is still to be determined pending a legal challenge to unite's requirement. the vast majority of the airline workforce we should say did get vaccinated. the airline doesn't expect any operational problems as a result of the firings. meanwhile in california governor gavin newsom is mulling a vaccine mandate for all students 12 and older. his office is discussing that possibility with the more than 1000 school districts across the state. >> issues that we are working
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through, that are unique and distinctive by region. and so we're in that process of adjudicating the larger consideration as we said, it is on the table. reporter: and now it is just not covid vaccine requirements. the university of southern california is requiring all students, faculty and staff to get the flu shot ahead of the flu season by november 1st. a host of other colleges across the country have the same requirement now, neil. neil: yeah. more and more do, you're right. grady, thank you very much, grady trimble in chicago on all of that. we have the governor of the beautiful state of alaska. he has a message for health care workers and others who are threatened actually fired from their jobs if they don't get vaccinated. come to alaska you could help us out over here. governor, very good to see you. >> good to be here, neil, thank you. neil: i might have over simplified, governor.
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what are you telling those health care workers? >> well, i've been listening to your show, you're spot on. what we told our people early on in this pandemic, early, early, on, was the first shoe to drop would be the health issues we have to deal with in this pandemic the virus and the fallout. what will be economic and societal fallout. you're seeing that now with supply chain issues, with businesses mandating vaccines which will have a segment of that workforce leave that particular business or that sector. we're continuing to see distortions and reauctions of the pandemic coming here. what we're doing here in alaska, we're encouraging people to get a vaccine, we're encouraging people to work with their health care practitioner to decide what is best for them but in the end we never did think the mandates were the way to go. alaska came out pretty early in the terms of vaccinations. we led the nation in vaccination.
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we led the nation in monoclonal antibodies. we still have the monoclonal antibodies available. we don't believe forcing people to get a vaccine against their will is the way to go. what you will see across the country, across parts of the world, teachers, medical professionals, police officers, a large segment of those sectors, those professions you will see people, and it will cause some big problems. neil: does it worry you not as a governor, just as you know, interested citizen that if health care workers aren't getting the vaccine, wouldn't it, and doesn't it give pause to those who are unvaccinated that if they don't think they need it, or want it, then why the heck should i get it? what do you think? >> well, sure. i think that is part of the issue that we have happening. that is, you have a segment of the scientific community, you have a segment of the medical community in which there is individuals saying that they're
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not going to get vaccinated and in some cases they're advocating to others don't get vaccinated. so if you're, if you're mr. and mrs. alaska going about your life and doing your business and you're hearing this, it does lead to a confusing and at times a chaotic situation. so unfortunately the nature of what has evolved here with this pandemic in terms of some respects politicizing it. in other respects just this back and forth on bad information, the contradictory nature that we're having so as you know, neil, i considerate offed the virus, but i got a vaccination. that was truly my choice. i did that of my own free will. i think that is what will end up happening at least here in alaska and other states. people get vaccinated because they choose to do so. any misunderstanding understands or myths they may have heard become cleared up because of dialogues they're having with friends and family and health
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care practitioners. certainly the scientific community, the health care community, there is contradictions within those communities themselves. neil: i guess there is no contradiction for the time-being that intensive care units in hospitals, i don't know the exact status in your state, governor, are filled with non-vaccinated covid patients right now and i'm wondering that certainly could be mitigated if more people did get vaccinated, those who might have heart or other issues who warrant getting into an icu can't? >> sure, neil, and i suggest that they do. we're fortunate in that we have several hundred health care workers coming to alaska for at least 90 days to help bolster our hospitals. we believe we'll get through the surge. what the future holds that is debatable. we believe we'll get through the surge here hopefully in the next month with the help of
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additional health care workers. certainly as i mentioned, i take the vaccine, i got the vaccine because i thought it was in my best interest. i didn't want to be laid up 14 days or worse. our vaccination rates are generally north 60% for our population and we continue to vaccinate thousands of people. we'll get there. it is slower than we hoped. but we have to be careful until we get to the certain level of immunity across the state and our country. it is a choice. i suggest they have a discussion with their health care practitioner to decide if they need to get the vaccine now or need to wait. i will say, neil, in the end everybody will get antibodies one way or another through vaccine or infection because this delta variant is pretty contagious. neil: as long as we get it under control to your point. governor, thank you very much, governor mike dunleavy beautiful
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state of alaska. we're getting bulletins or alert from federal reserve chairman jerome powell, i won't go there all of these. he optimistic about the outlook but medium term he is optimistic. strong monetary demand with strong monetary fiscal policy. supply side constraints are holding back the u.s. economy at this point and the delta variant held up economic growth in the u.s. some of those are so obvious i don't know we need a fox alert. that was a fox alert. steady as she goes the reading from the federal reserve. after this. ♪.
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>> it is obvious to all of us that the war in afghanistan did not end on the terms that we wanted with the taliban now in power in kabul. although the nio was unprecedented, the largest air evacuation in history, it was a tactical operation and logistical success evacuating 124,000 people, the war was a strategic failure. neil: all right. they're on the house side today, top generals and the defense establishment, general mark milley and of course the defense secretary lloyd austin, saying that they had warned the president, they echoed that again today before the house but the president is commander-in-chief was free overrule them and he did. the fallout from this, the confusion on this continues, the president misspoke or flat lied or just forgot.
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either variable alarms many have been watching joe biden very closely. go to peter doocy how all of this is falling out at the white house with the president himself. peter? reporter: neil, good afternoon, confusing is right. these generals are all telling congress right now that their professional military opinions never changed. they say they told president biden he should leave 2500 troops in afghanistan after the beginning of september. they apparently debated it with the biden diplomatic corps and the president decided not to listen to his generals. but then he told george stephanopoulous that none of this ever happened. >> in august of this year president biden told george stephanopoulos in an interview, no, no one said that to me, referring to keeping 2500 troops in afghanistan. was that an inaccurate statement by the president? >> sir, i'm not going to comment on a statement by the president. reporter: the president's comment in that interview
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contradicts under oath comments by his military advisors. there are records of both on camera but the white house says there is some important context missing from the dialogue here. >> i think it is important for the american people to know that these conversations don't happen in black and white or like you're in the middle of a movie. the president made clear that the advice was split. reporter: that is of course just for clarity sake not what the president said just last month. watch this. >> no one told, your myrl terri advisors did not tell you no, we should keep 2500 troops. it has been a stable situation for the last several years. we can do that, we can continue to do that. >> no, no one said that to me i recall. >> i recommend we maintained 2500 troops in afghanistan. >> i remained consistent throughout we should keep a steady state of 2500 and it could bounce up to 3500 something maybe something like that. >> their input was received by the president and considered by the president. neil:
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reporter: so it is he said, he said, he said, he said, neil and these guys are not on the same page. president biden is saying nothing on the matter today. back to you. neil: all the more worrisome would be if he didn't recall it. one thing to misrepresent it, not casting aspersions here, not even remember that one top military visor after another probably thought it was not a good idea, not recall that, that raises a host of other issues, does it not? reporter: yes, but as these guys have been talking about the private conversations they had with the president, not giving too much detail, ultimately they're very respectful of the chain of command, the president recalls something or not. his order they have to obey, as long as it is a lawful order which this was. neil: that is the way it works. thank you very much, peter. to lieutenant-general keith kellogg on all of this. former jags security advisor to vice president pence. that is what is sort of you know, bouncing around in my thick skull, general, this
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notion that the president might truly have forgotten what one top general after another advised him about and i think that is even more alarming. your thoughts? >> yeah. thanks, neil, for having me. yeah, look, those conversations that are held between the senior military and the senior state department and everybody are generally held in the situation room because of the sensitivity of the discussions but those discussions are pretty extensive. it is really hard to forget discussions like that because they're so hard-hitting and the situation room is very small anyway, seats 34 people in the white house. and when they make those comment s they stick with you. to be very honest with you, neil, i can remember discussions we had four years ago with we first came into the white house with the trump administration because the impact of those discussions are so important. you're not talking about what you are going to have for breakfast tomorrow. you're talking about national security decisions, huge decisions and i believe that
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everybody remembers quite clearly what was said. here is the second piece. there are summaries of, conclusions kept on every single discussion in the situation room. all they have to do is go back on record and look. the third piece of that is there are always notes kept and those pieces of information are always kept by the president and passed to the president. neil: general, i'm wondering, obviously these gentlemen were called before congress to testify so they had to share their thoughts under this, they're held under oath. they seem to be compelled to say. look, this wasn't our advice. normally recommendations you give the president you know, great discretion is advised, even all the gentlemen were saying the same but they really felt an urgent need to get their point of view out, that they didn't think this was a good idea and in so saying make it clear that the disaster that followed was on the president.
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he is exercising his right to overrule them. he is the commander-in-chief. they get that. i get that. i'm sure you get that but they're saying this was not on us here, this was not our idea. that is rather telling in of itself, isn't it? >> yeah it is. there is real consistency here because mark milley was the chairman for president trump as well before the chief of staff of the army, you had a lot of same intelligence people and operations people carried on through administrations because they're professionals out there. the numbers you are hearing, 2500, are the same numbers we were told back when the trump administration was still there. this was a decided number that came from the cia, came from the state department, came from the intelligence community, the dni, came out of dod. this number is very consistent. when they said 2500, it resonated with me. that is the number we were told, that was the baseline number. when we put together the doha agreement, 29 february agreement. we knew that was a number we
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would go to hold. stay at 2900, military supported by the cia. the 5000 nato troops that were there, keep bagram base open until all the conditions of the agreement were met. only until they were met we would have full removal. there would be consideration with the taliban and ghani government. that was the number one goal we had. the doha agreement, you can pull it up online, a member of congress said it was signed by the president. it was not. it was signed baradar of the taliban and the and it was all conditions based. this was very important for people to hear, they probably don't realize this, four days after that agreement was signed on the third of march, the president of the united states, donald trump picked up the phone and called mullah baradar, it
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was done through a translation. through the translation i wonder how this was being received. he told him very clearly if you violate the conditions of the agreement we were not leaving, that i would pay the consequences for not coming through this agreement. one of the agreements was held, even mark milley said that they would not attack any u.s. troops or kill any u.s. troops during the entire time the negotiation went on. we did not lose a single american soldier from the 29th of february, 2020, until the 13 great americans were killed at karzai international airport. and the other agreements we were working towards. there was a baseline. we weren't going to move from the baseline. when they talk about a date certain, that date was always moveable. it is a forcing function when you have a date. it was always moveable until the conditions that were met. i will push back on people when they talk about the doha agreement. i was very close to,ing that agreement both with state department, defense department and our special representative working the issue in
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afghanistan. neil: did that agreement, very quickly, general, include if the taliban started taking over large swaths of the country or going after government forces? did include a provision for that, not so much targetting americans but afghanis? >> no. it didn't include the provision but the vocal, when the president trump made it very clear to baradar what would happen if they continued their offensive. when we left office, there was strategic stalemate, nothing really moved t stayed the same. neil: guess what i'm asking, sorry, general to be clear, i heard back and forth, you can help shed some light on this, if the government, you know, forces were going to be under the attack that they were, by the taliban, would that have changed or you know, nullified the doha agreement and you knew it? >> the doha agreement didn't exactly say that but we provided the military support for all the
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afghan forces. for example, our military support, advisor support, was all part of the afghan military fighting the taliban and they did not attack any major key provinces while we were still in position because they knew the response was going to be kinetic in other words we would go after him very hard. to be specific neil, was it written into the agreement. no it was not. it was sent forward and by president trump when he called up dara car and made it very clear to him. neil: thank you for time explaining things. we'll never really know but it is out there. meantime you know what is going on in the border has become a serious issue when no less than barack obama says the situation there is unsustainable, was he sending a signal to the president and the white house to move on this and fast? after this.
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neil: christmas shopping season starting a little bit earlier right now. scores of retailers including target are kicking off holiday deals that will start in little more than a week from now. others are gearing up for it by hiring thousands already walmart indicating more than 100,000 workers as it gets ready for what it hopes will be a busy shopping season. a sign that they are confident it will be. mitch roschelle back with us. obviously they're committing a lot of donor this, a lot of planning for this, in the case of target they're concerned about supply disruptions telling folks to be concerned about that, what do you think of all this? >> it is interesting that target is trying to boost hours of existing workers, not hiring as many as seasonal workers. sales force predicted as much as 20% inflation in some traditional holiday items and this network reported stories
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about artificial christmas trees getting stuck on container ships off the coast of california. so i think the supply chain is really going to hit close to home this holiday season. the retailers are smart to tell consumers to get ahead of it, shop now. neil: obviously the retail appetite has been robust. you can talk about consumer confidence surveys and soft inned a little bit here. by and large, balance sheet of the consumer is pretty strong. what are you looking at in the weeks and months ahead? >> i go back to last year which was completely a different dynamic than this year. holiday sales topped estimates and broke records, largely because the holidays are a time as people want to feel as normal as possible. we're still in a period of be a normality, the consumer, not with under at thatting the fact that some sentiment indices
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suggest they're worried about inflation and the economy. when it comes to holiday shopping all bets are off and people want to feel normal. if you go back to look at august retail sales, they topped estimates and broke records. so i think the consumer still flush with cash is going to come roaring forward this holiday season. neil: how are you enjoying florida, by the way? >> by the way that is san diego behind me. neil: oh, i'm sorry. i thought you were in florida. >> i am in florida but that picture is san diego. neil: wow. >> tv secrets revealed. but i love florida and, there is nothing not to love about florida. i'm not wearing flip-flops right now. i thought about it, neil, but i'm not wearing them. neil: you were wearing a bathing suit however. mitch, great catching up with you. sorry to reveal that. that was very funny. obviously mitch, like a lot of other folks drawn to the safe
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tax confines of states like florida right now. that has been the big sort of subset story so this whole post pandemic world, hasn't it? letting you know about some retail jobs, 150,000. walmart expects to add, many will be full time, ahead of the holiday season but not exclusively just for the holiday season. the jobs will go for a minimum of 12 bucks an hour, many will average out north of $15 an hour. sam's club which is essentially walmart's warehouse retailer, the minimum wage there, 15 bucks an hour. target, 15 bucks an hour. costco, 16 bucks an hour. good to be looking for work these days. we'll have more. your shipping manager left to “find themself.” leaving you lost. you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates
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♪. >> welcome back to "cavuto: coast to coast." i'm jackie deangelis with the latest on facebook, owner of instagram and of course its targeting of younger users. internal documents show that facebook called kids as young as 10 years old an untapped audience. facebook certainly feeling pressure, right, competition from platforms like snapchat and tiktok. they captivated some of younger
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age groups but does that make it right to target children, essentially try to groom them as users for life? that is a good question and one critics bring up in this conversation, especially in light of the news recently that mark zuckerberg, ceo of facebook, knew that instagram was having a negative impact on teenage girls and facebook's decision of course to pause development of its instagram for kids app. now the documents revealed further that facebook was exploring what they call playdates as a growth lever. meaning you can connect kids together. look, tomorrow there will be a senate hearing. lawmakers will question facebook's global head of safety over the effects of its products on kids mental health n conversations that i'm having, the comparison keeps coming up. big tobacco the way it targeted kids with ads. essentially cultivated addicts for life. there is an argument to be made social media is an addiction, it is real, people suffer as a result from it and of course neil, people are asking who is
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the job to protect kids? is it it the parents, the company, congress? these questions are all up in the air. neil. neil: a lot to be resolved. thank you very much for that. jackie deangelis reporting on that. news to pass along on evergrande, of course the beleagured chinese real estate behemoth. it will sell 1 1/2 billion dollar stake in a chinese bank. currently all of this ahead of a bond interest payment that is due. let's talk to matt gerkin, a political geostratdifferent. matt, what do we make of timing of this sale and interest rate payment due? >> neil, thanks for having me on. i think the timing just follows from the fact you have a liquidity crunch especially forever grand and so they're scrambling across the board to make bond payments. in light of the fact that the chinese government put a lot of pressure on the property sector
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as well as banks to clean up excess leverage in the country that is the underlying driver here. that is why evergrande will continue to be a story but you will have financial instability in china as a longer running theme. neil: it wasn't that long ago, matt, jim chanos, of course the big hedge fund player, there are lots of evergrandes out there, it is just the biggest but a whole bunch of them out there on the verge of going belly-up. is that true? >> you know china has had for 20 years a development model that drastically encouraged you know, the property sector and developers are heavily indebted and now the government is trying to get a handle on that. really over the past 10 years they are trying to get a handle on it. what happened, they tightened the leverage, tightened constrain the banks, tried to constrain the developers and the shadow lending but then you run into the risk where the overall economy can slow down if the financial system is strained. that is very much coming into
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view today. when that happens they have to back off. they have to ease monetary and fiscal policy. then they enable that same kind of property bubble to continue. so i think the problem that is before them whether xi xinping who as you know is kind of seizing a whole bunch of power to himself and returning china to a very autocratic model of government, is he willing to finally break this cycle? if he does china will end up with a property sector crash and a economic crash. it doesn't seem likely to me. neil: we'll watch it closely because every day some curious developments, don't know what china is doing behind the scenes to your point but thank you very much for joining us putting it into perspective for us. dow is up 161 points. nasdaq is coming back. not all tech stocks are coming back. there is a subset to that. the story after this. i promise our relationship
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♪ ♪ b when the pressure is coming down a lot of it a more than day and ten hours before technically the government would have to shut down technically. others are saying to push that
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back if you want peter to pay paul and pay one bill pay another bill and look into the couch cushion the government has an account and under those cushions are billions of dollars they comply with is just a big credit line number up against a debt ceiling and it's a mess. theater and back-and-forth on various pending measures in the trillion dollar infrastructure plan or the three have, some say five and half, e*trade and other human infrastructure plan they have to get a budget together, short-term funding to keep the government lights on in the fat is pushed back too much, you can have a default is never happened but we've gotten close many, many times, hillary vaughn following it from capitol hill. >> we got latebreaking news, speaker pelosi saying she will hold the vote to raise the debt limit today which seems to suggest she has the vote to get that through the house but that does not solve the problem the democrat base in the senate
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where they need ten republican votes to do that the regular order and republicans have said there that could help any democrat raise the debt that they need to shove the reconciliation and do it all on their own, at the same time were witnessing a stare down between house progressives and senate moderates, kyrsten sinema and joe manchin with a lot of people watching to see who will blink first but neither side has seemed to be in a hurry or worried about getting a deal done but everyone else, democratic leadership in the white house is staring down the deadline to put down the partisan infrastructure bill for a vote tomorrow to get that across the finish line in the social spending package even though nancy pelosi signaled today that the infrastructure vote, tomorrow may be delayed, kyrsten sinema was at the white house for back-to-back meetings yesterday and today the white house is coming to her on capitol hill, there is still no
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agreement over the size of the package and what she or joe manchin will go for, the 96 member caucus has a pack to sink the vote on the infrastructure deal if it happens tomorrow without reconciliation going first. >> we still have had no interaction, no negotiation with senator mansion and cinema on what is it that you do like, this is an about trust this is about verify the only wait to verify is the past the reconciliation bill first as was articulated and then we will happily come back and vote for the infrastructure bill. >> joe manchin says he's not talking numbers with the white house for the social spending package until the infrastructure bill is passed first. >> all we need to do is pass the bipartisan infrastructure bill. >> to have a topline figure the
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white house will accept. >> inaudible. >> also where there is widespread disagreement among democrats on the hill, one proposal and the spending package would make the child tax credit permanent and change the requirements of people other than a pair of guardian or a caretaker could cash in, the proposal to help out with medical care, supervise the child, help with school activities, eligible to cash in on the monthly child tax credit and the irs would be involved in settling any dispute, if two adults are trying to cash in on the same credit for the same child the irs would turn into family court. neil: that would be very, very weird. thank you very much, hillary vaughn in the nation's capital, when they're working on this there pretty much in agreement
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on who pays for, obviously the wealthy and businesses, is proportionately so, the national taxpayers union executive vice president. the message we got from the white house yesterday, jen psaki essentially saying it would not be a good idea if businesses raise their prices in the backdrop of rising taxes, that either happens or they start laying law for cutting salaries or both, what did you think of that? >> absolutely i don't know where they expect companies to get the resources in order to pay the $1 trillion in higher taxes on corporations. what's going to happen this happens every time you raise corporations labor pays a portion of it, workers pay a portion of the tax increases in the form of lower wages or in the form of layoffs, we don't want to see that happen the national association of manufacturers is abiding plan can result in a million fewer
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jobs, as we try to climb out of the economic rot and get our economy back where it needs to be. neil: obviously a lot of companies are well aware what could happen the higher tax rate they will be looking at in these other taxes, a lot of the ceos who run these companies are in the top bracket and they will pay more. almost to accompany instantly among retail companies, big plans for big hirings, 150,000 announced at walmart, a thousand more retailers across the country to say nothing of even auto companies that are optimistic after all the supply disruption that will be a better 2022, not the one for the time being and what could be much higher taxes, do you think it's because they don't see what's happening or because they can deal with it. >> i think they're looking at a lot of the chaos that hillary just mentioned in washington
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right now and i'm hoping it will pertain to a collapse of the democratic plan and the tax increases won't actually take effect. keep in mind if the tax increases abiding in the democrats in congress are trying to push take effect, were talking about higher corporate tax rates than existed, higher effective than existed prior to the tax cuts and jobs act of 2017 this is a bigger tax burden on american companies added timer almost every country in the world is cutting their corporate taxes, even countries like sweden and france, there cutting the corporate taxes to achieve more economic activity and higher job growth, were trying to go in the opposite direction and pretend that it will somehow result in more jobs and more opportunities for average americans, that is not true. neil: the wrath you get from the and democrats know when ever
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pays to advertise prevailing rate, you could say the same in other countries as well but you're going to lifted up six points higher, whatever their prevailing went up six points. i always find that to be an argument and companies will have to adjust in that world they will have to do something, what do you think it is. >> absolutely there's a difference between the corporate statutory rates and the effective that the companies actually pay we see this as the negotiations are taking place with european and other countries across the globe they want to poke holes in the global minimum tax and treatment for the financial sector in england or the many factoring sector in china everybody wants to create a tax code that benefits their company except the united states of america where we want to penalize technology companies, manufacturing companies, our most successful entities, i when
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is a anti-americanism but some lightness to the fact that these rates matter, these policies matter to everyday americans who are looking for jobs in an uncertain economy trying to put food on the table, dependent on congress in the white house enacting policy that allow that to happen and not undermining their ability to succeed. neil: brandon arnold, i want to go to carol, she likes to remind us, it's a good thing that she does, there are small businesses and there on the receiving end of this, a lot of those owned and operated in the top individual grade which will zoom up to 39.6% and they written a book on this, the were on small business they join us right now, for the small businesses, all of this goes through, there taxes on a percentage basis are going to be far bigger aren't they.
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they are the ones that will bear the brunt of the tax increases and nodding along as you're speaking with brandon, if you're a publicly traded company and you're going to the various tax codes legalities that are there and you are able to pay the $0 in income tax, you can raise the rates as much as you want, any number times 0 is still 0 but like you said for the 31.7 million small businesses in this country, whether the organized at corporations we have about 1.4 million i believe c corpse or the tens of millions that have pass-through entities they're the ones that end up bearing the brunt of this, it's always working to tax the rich and go against the big guys but the complexity of the tax code
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lets them shield the income from being taxed at all so it sounds like it's a good plan but who will pay the price of small businesses and we will see continue consolidation of the economy away from the small entities with more power and more of value in these bigger entities. neil: small and big businesses alike to pass along price increases it's going to be all the more if you raise her taxes, obviously there's a limit and you can push a string, for small businesses there is little wiggle room and for them on top of the rising price and pretty much everything , now they have
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to deal with higher taxes as well, it's not a good combination. >> abiding the administration and their unicorn that were raising taxes but that shouldn't affect anything, of course it's going to affect a whole slew of things and the smaller the business the less capital in the thinner margins that they have to deal with and the harder it is for them to find the places to pass this along to the consumer so at some point they have to make the choice, do they try to do that and end up losing business or do they say this is a sustainable business model in the end up going away and for anybody who cares about having a checks and balances in the economy and small businesses of decentralization part of the economy is really important in raising these taxes will continue to consolidate the economy. neil: are you less inclined to like small-cap stocks in this environment? >> there is a big chasm which we
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know small-cap stock that has access to capital versus the traditional small business on main street. i think it really depends on the industry, if you're a small-cap restaurant chain you might do quite well because of the mom-and-pop competitors and up going out of business and if you're trying to compete or you have a price increase or maybe implement technology and make some of those jobs go away, it's going to be much easier if your smaller company that has the access to capital than the mom
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and pop on main street this is where the completion happens, what happens in the market and what happens on wall street isn't main street there's a disconnect between wall street and the economy and even if you're in the small-cap portion you are still part of wall street. neil: a very good distinction, i appreciate that, good to see you. in the meantime the vaccine mandates, whatever you make of them and more people getting vaccinated the mandates are resulting in people losing their jobs if they don't get vaccinated. it's not just that companies like united airlines and countless counties and states for healthcare workers and frontline workers and teachers and that sort of thing, this is getting to be a substantial swath of americans who could be out of jobs if they don't get the job. more after this. new projects means new project managers.
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neil: you heard this a thousand times no job, no job a lot of corporations are saying that unless the workers are vaccinated or not welcome back in the offices that is happening at united airlines latest 600 who presumably have not been vaccinated yet they can't return to work until they are and if they don't meet the deadline all by the end of this week, the first job is expected by the end of this week, is playing out and countless counties and states across the country, lydia hu with the latest on all of that. >> were waiting for the latest job numbers that will come out
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not this friday but the next friday the update for the september picture that will be important to follow when the boosted unemployment benefits ended in the country but according to the latest and employment data that is available from august we are already seeing a trend among states, if you take a look at this we can see states with the lowest rates of unemployment are run by republican governors, nebraska and utah doing the best but meanwhile here are the states with the highest unemployment rate, they're doing the worst nine out of ten run by democratic governors, nevada, california, new york topping the list states that impose the lengthy is an harshest shutdown measures, though shutdown majors could be widening the unemployment gap republican-controlled states are leading the recovery adding back the job that they lost during the pandemic at the fastest rate utah and idaho surpassing their pre-pandemic employment numbers,
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blue states lag behind, hawaii and new york rounding out the states been the slowest to return jobs that were lost due to covid, as you mentioned there is new concerns that vaccine mandates could step job recovery new york is an example the blue state has the highest an appointment rate in the country, but among the best vaccination rates, still the state is dealing with fallout from vaccine mandates as governor kathy hochul declares a state of emergency to replace unvaccinated healthcare workers as of monday more than 53000 of them, now new york city is bracing itself for more employee turnover ahead of the deadline on friday for education workers to get their shot or lose their job, as of monday 87% of the city department of education workers weren't vaccinated. that means thousands of jobs hang in the balance. neil: thank you for the update, lydia hu on all of that, is this
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legal, can companies do this say nothing of states, counties and that sort of thing, brian during the civil rights attorney very smart when it comes to legal matters, i appreciate that. what these companies are trying to enforce, can they? >> great to be back with you, the law is not always black and white people want easy answers but they will not get it. we don't have any local, state or federal statutes or regulations that speak of this issue and we have very little case law, courts interpreting decisions that exist on this issue as well. so what we have to look at, we have to look at what states are doing and courts are doing now, does the vaccine mandate violate employment laws within various states, the early trending results are the employer's can
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require you to have a covid vaccine or you lose your job, you have two exemptions but they're hard to qualify for, one is the medical and one is the religious. bear in mind, most employees across the country are called at will employees, what does that mean, they don't have a written contract that requires them to be terminated for cause, employers can arguably fire employees for pretty much any reason and that includes not getting the covid-19 vaccine. neil: did the president bring this up another notch by working through osha to get companies with more than 100 workers to demand justice? >> president biden has enacted the new rule through osha that requires employers with hundred or more employees to require
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vaccines, that is a big step, the department of justice came out in july of issue and issued a memorandum on the issue and leaning in favor of the vaccine mandate. you might be surprised to hear this but i'll give you three quick examples. there was a case in texas involving employees at a medical center they did not want to get the covid-19 vaccine, they filed a lawsuit in the district court ruled in favor of the medical center and the appellate court in texas of all places declined to review that, that means that becomes the law temporary in texas. you also have a case in arkansas, 45 employees from the medical center in arkansas saying you cannot fire us, we have a religious exemption, the employer came back and said you don't have a religious exemption. a lot of people are using the
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fetal argument as a religious exemption and that's getting blown out of the water because that's not used in the vaccine in the big one recently in california, the nba the national basketball association just declined a religious exemption for a star player for the golden state warriors. that is colossal, the nba is saying you cannot get a religious exemption for covid-19 vaccine. neil: the backdrop, the more spikes in cases that we have it seems the more protection these companies, teams, counties have an edge because they can say this is what were dealing with and if people don't get vaccinated is going to be worse. but if things subside do they have less of a leg to stand on? >> that's a great question let's focus on the first part of the question, employers, think about it, they have a duty, and incumbent duty to create a safe
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work environment for their employees. right now they're in a catch 22 or quandary, we don't require vaccines then people within our workforce are going to get sick, they might come down with covid and they might face a barrage of civil lawsuits because employees got covid so they can't really win with that. they have chosen the other route which is we will have a safe workplace, you need to get a covid vaccine, you're right what happens a couple years from now, five years from now where the covid numbers go down dramatically maybe we have herd immunity. at that point time we might be talking about different results within the court systems, speaking of that there is no uniformity as well that's what people don't understand we could get a different result in california versus florida from the court systems. neil: something tells me this will wind up in the supreme
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court, what do you think? >> i think it's going to end up in the supreme court and that's going to be an interesting ruling, i just mentioned the case in texas, that's a conservative state in the u.s. court of appeals ruled in favor of the employer and the vaccine mandate. i don't think it's a slamdunk if this reaches the u.s. supreme court that the u.s. supreme court is going to say you can't have these vaccine mandates for covid-19, remember there was one case in the early 1900s that dealt with the chickenpox vaccine and the u.s. supreme court did weigh in on that covid-19 15 and said the locality states and federal governments could implement a chickenpox vaccine mandate. this could turn into another required vaccine like chickenpox and the other vaccines required
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to get or it could turn into a legal battle and a few years when the covid-19 cases decline. neil: you really know your stuff, you're going back to the early 1900s and chickenpox, you've done your homework. thank you very much. i appreciate that, you clarified a lot of things. brian on this and how companies, states, cities and even the country can go on this. speaking of all things vaccine pfizer is talking about a covid-19 vaccine that would be ready for kids ages 5 - 11, here's the problem it would need approval from the fda and pfizer is saying that would likely not come until november but one is in the works. ♪
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neil: we have a big special coming up on inflation, we told you about earlier that i might've shared i've been there given my age, about inflation they never really go away real fast and leave some scars behind, we thought, how do you deal with inflation, you protect your investments, how you protect your savings, how do you protect your family, we would love to hear from you, send your videos otherwise invested in you.com, i really don't have the ego for you to criticize me and attack me, this is not about me this is about you and helping you out, when you say things like facts i think could use calorically challenge, some of you, please we do want to hear from you and will have some serious answers, one thing about
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inflation it can't help going on without you participating in you by the very goods that you have been buying to the price uptick we will explore history of that, in the meantime a guy is no stranger to inflation in the optics and the worker shortages, our friend and must always been a decade ago that we were introduced to him very successful caterer and restaurant owner, customers extremely loyal, then covid happened, and find a way to deal with that no sooner that he deals with that in the labor shortages and all the problems coming out of it, it's a mess but always smiling and always getting a way through it, they're throwing everything at you these days, what is your biggest headache as we sit here right now. >> the biggest headache is product and labor, the labor force is terrible it's like they trickle down on both ends.
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it's like lobster meat very popular item in my restaurant, used to pay $18 a pound now it's $45 a pound the problem that i'm hearing, they don't have shipping, it's crazy they don't have fishermen to get the lobsters, somebody to break it down, someone to deliver to the places and refrigeration breaks down, it's a trickle-down effect, not to mention $25, $30 for a sandwich is impossible becomes a bigger problem every day were open. neil: particularly the labor shortage, how do you deal with that obviously some restaurants feature signs, forgive us we have few personnel on board, we want to help you be prepared you might wait a while, how are your customers reacting? >> i showed them my work schedule were open by days a week instead of seven, we heard and sales we could survive a given service and quality want
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to compromise that i would rather make a little bit less money and not have the bills or go out of business but the most important thing yet to be cognizant of the employees that you have, they work for covid, they can't work seven days a week i shortened my schedule in the amount of people that will take it to the places and we will cruise along until we get more staff. neil: how are you dealing with customers somebody might complain about the wait times or wait a minute, it doesn't taste the same, what you do. >> were very apologetic to everybody and we understand it explained to them this is like a worldwide problem, almost every industry from cars, food, refrigeration, every industry is affected and you have to bear with us, we've been very lucky our customers have been giving out really good service as much as we can but were shortening
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and limiting them or hurting ourselves so we can continue to do the right thing. customers have been pretty good so far. neil: you been good to them, they don't forget that, the power is a personal connection and a lot of great restaurant and catering owners, i wish you well, continued success, butch on all of that. we've been exploring on fox business other industries coming back booming, weddings are a big example to a half million people scheduled to get married this year i think it's a record going back to the early 1980s that's when i got married that was before the wheel but it's really big now but you know what's really big now, these parties, the bridal parties and so big there's one city there zooming in on, more than any other, we will explain after this. securing portfolios, time after time.
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♪ ♪ going to the chapel ♪ ♪ and were going to get married ♪ going to the chapel. neil: it's about time so many were put off during the pandemic a near record two and a half-million couples will be getting married this year, the highest since ronald reagan was in the oval office and critically bachelorette parties, one city registers more than any other so far, i was surprised to hear nashville, here to explain why it's no surprise at all, madison, good to see you. >> good to see you, no surprise look where i'm standing the entertainment features i am on
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the honky-tonk party express behind the bar, don't worry were just serving water is a little early and central time but these buses are packed with booze and lots of people. normally on these benches where there partying and having the best time are the bachelorettes, like you said it is the number one destination, the reason being you have good prices in nashville, pretty accessible for most of the country and tons of open air space activities like this one that drawn the crowd, it is really good for business because if you add back to this economy after the covid shut down for the honky-tonk that were on right now they were able to double because of the popularity of bachelorettes they're not the only ones winning out this is helping the hotels, the restaurants indefinitely helping the bars, take a listen. >> a lot of these include mine we open at nine attack o'clock in the morning and were closing at 4:00 a.m. it's
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around-the-clock and not just friday and saturday at seven days a week nashville has come through the swinging into stronger business climate and nashville now then prior to covid coming on board. >> a big thanks to that is because the bachelorettes in the weddings, 2.5 million in 2022 the most we seen and 40 years, that is such big business, with the weddings you get a lot of bachelorettes, a person on a bachelorette can spend up to $1200 just during their visit that is going directly into the economy, you can understand why our friend john rich is pretty happy that bachelorettes are back in nashville and you can catch them tonight on fox business are new primetime lineup the pursuit is there a 98 central, back to you.
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neil: thank you very, very much, weddings are back into were movies that used to be pushed back to the pandemic that means james bond no time to die, i think this is ready to go a couple of years ago, finally on the premiere in london kevin mccarthy film critic and fox news contributor extraordinaire. the big deal he's finally back, this took a while to finally get to the big screen, didn't it. >> it is an honor to be on with you i'm so excited to talk about movies i saw this film in the theater and it was so much fun to be back in the theater again having the communal experience, nothing matches that, you cannot get that at home i saw no time to die, daniel craig is my favorite james bond and might be a generational thing i love his
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james bond, sky fall in casino royale are my two favorite, this is now my third favorite, i'll tell you why the action in this film is incredible, immersive, practical, tangible you can feel it and the director of this film worked on the true detective in the nominal filmmaker and shot this on film and you 65 millimeters imax cameras in the film podcast and we geek out about this all the time i love the filmmaking, billie eilish song is fantastic, the performance are great, everybody, there's so many great action teams in the film the opening 20, 30 minutes are the best opening of any daniel craig bond movie that i've seen, on the negative side the reason why it's number three out of my daniel craig bond film the plot,
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story and script are a little unnecessarily convoluted there were times when i felt like the exposition was so heavy that it took me out of the film and i love romney, he's a great actor and good in the film but i don't think is billing character was written well enough to be memorable, if you go back to sky fall, he was amazing nicholson and casino royale, he does a good job with the material but i don't think his character is strong enough. there is a romance that is very important to the film itself and the emotional connection that we have with james bond, that is formed early on with casino royale where the character played by ava green, her character died in that sense bond and an emotional path, they tried to replace that romance with seduced character and it does not work as well, to me the emotional beats were as strong but i enjoyed the film i gave it
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a three and half out of five it was shot with imax cameras, go back to the theaters it's so much fun to be back movies are back and i cannot wait for the fall, i am so excited. neil: i'm glad it's back this particular one, delays, delays, i look forward to it, thank you very, very much. in the meantime will have bill cassidy joining us louisiana senator what he thinks of the ongoing back and forth right now on these budget matters. but probably weighing on an important baseball game, not a professional baseball game but this will between republicans and democrats, will explain. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates matching your job description. visit indeed.com/hire
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neil: big baseball game i'm not talking about the divisional battles for the wildcard going down to the last few games, were talking about the congressional republicans against democrats, all in good fun, we remember the nightmare a few years ago that is a long time right now in a rivalry today, national and washington, what we can be looking at. >> that's right the congressional baseball game is about bipartisanship but this year it's taking place during the hostile weeks on capitol
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hill and the fact that president biden said his massive social spending package will cost $0 is wrangling republicans. >> it does not cost anything exceptional pay more in taxes live attacks on your natural gas if you use natural gas to keep her homework while your home you will be paying 15% or more every month, they are totally out of direct correlation with most americans. >> of course this event as you said took on a whole new meeting in june 14, 2017 when a gunman opened fire at the republican congressional baseball practice shooting several people including congressman steve scalise, as you just saw he was at the practice early this morning and he'll be suited up and on the field later today. the big question, who is going to win the game, republicans and democrats have been practicing
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since april, republicans have a lot of ground to make up because democrats have 110 of the last 11 games, they are playing for this trophy right here, i actually have it right in front of me, it's pretty heavy but this is what republicans and democrats want at the end of tonight, they are playing for keeps, the big question is who is going to win you can catch all of the action on fs 1 inch streaming live on fox nation 7:00 p.m. eastern time, it's going to be a fun night. neil: that looks heavy, thank you very much for that, nationals park. we have senator bill cassidy the beatable state of louisiana, republican. i don't know if you're participating in the game tonight but it's very different on the field than it has been where you're standing right now. any bridges closing in on or how
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would you describe things? >> are you speaking of the game or speaking about the debt ceiling. neil: i'm speaking about the latter, whether the game might spill over into getting something done. >> what can i say about the debt ceiling democrats control the ability to get the debt ceiling past they control the house, the senate and the white house, they could do it without a single republican vote. , and of study, the democrat and chair of the budget committee now said that they wanted to suspend the debt ceiling as opposed to raise it because if they raised it they would have to reveal to america people how much they truly help to spend in the reconciliation bill. if you will communication malpractice, i'm hoping one that they revealed to the american people how much they hope to spend and then they have the power to raise it, they should do though if they have money
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they want to spend. neil: whoever is right on this, the american people are going to take it out on you if the government shuts down and if the check start getting delayed and people lose their jobs, does that worry you? >> is not until october the 18th. so they've got plenty of time to raise it. they have the senate, the house, the white house they don't need a single republican vote, the american people are going to be upset as they already are if inflation picks up even higher. we have inflation at 5.3%, i think it's the highest rate since august 2008 and they want to pass 3.5, some say $5.5 trillion package that left of center economist say will jack up inflation even more, the american people are rightly going to be disturbed about that. if we will have responsibility, that is their scheid show responsibly to the american people, how much are they going to spend and they control everything, they can go ahead
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and raise it. neil: you are for bipartisan infrastructure bill that would presumably come up for a vote, you voted for that in the senate and is slated to come up tomorrow, if it does not it could go kaboom we, how do you feel about that? >> of course i want the bipartisan infrastructure bill to pass, this same economist this is the reconciliation bill is inflaming every it is not inflationary. it creates jobs for america people and folks who have been hit hard, i'm all for it. neil: senator cassidy, good catching up with you, bill cassidy of louisiana were talking about infrastructure only measure. who knows. more after this. . .
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neil: all right. holding on to these gains. the dow up 122 points right now. s&p doing okay. the nasdaq not so much. technology names taking it on the chin here in the face of these higher rates. we'll see how that goes. now charles payne. hey, charles. charles: neil, thank you so much my friend. good afternoon, everyone, i'm charles payne and this is "making money." the market getting back off the canvas after yesterday's gut punch but it has me wondering have we been spoiled by this rally? we haven't had one single session this year pulled back 3%. is it a cause for concern or should it make us more emboldened? i have a line of guests to help make sense of it all. jay powell's days could be numbered, how

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