dolly 25 number one hits, 40 top 10 country albums, and 3 grammy nominations. on top of that she is real nice lady. >> she is. i have many times. she was great. stuart: you were in nashville. we had her on the show one time. what a generous, terrific lady. that is my take. jackie deangelis in for stuart. >> did i hear you're saying you are driving to florida? i don't i have to get there for christmas. i do not want to get stuck in an airport. >> i may want to hitch a ride. talk about that off-line. stuart: share the ride, jackie. >> thank you so much. welcome to "coast to coast" i'm jackie deangelis in for neil cavuto today, some of the top stories this afternoon, president biden working furiously to get his own party to agree on a spending bill but we're learning the two sides won't even be in the same room during talks today.

of course the supply chain crisis now hitting where it really hurts. the stomach. schools having trouble supplying cafeterias. north korea fire as short-range missile. some are concerned that the white house is not worried about this. straight to our top story, president biden will meet with democratic lawmakers to dislodge any opposition to his already stalled agenda. hillary vaughn with the latest for us. reporter: good afternoon, jackie. president biden needs to seal the deal. he sees the talks the way to put the pedal to the metal, to speed up negotiations between progressives and moderates over the social spending package. senator krysten sinema arrived to meet with president biden.

at 2:00 p.m. house progressives will meet with biden. treasury secretary janet yellen and including congressional caucus chairwoman, pramila jayapal. he will host a mix of lawmakers, josh gottheimer, some "squad" members left off the list today now feeling stiffed. >> there have been multiple meetings and neither myself nor cori bush, other members of the suede have "squad" have been invited to. >> the expectation we'll give you crumbs, expect you to be happy. i didn't come to congress to continue to give crumbs to my community. reporter: senator sanders and senator manchin had a impromptu photo-op after hashing out sticking points in person. the president talked to manchin

on the phone trying to talk to number of issues for the west begin i can't moderate, green new deal and energy provisions in the package manchin is opposed to. biden wanted to get a deal at the end of the month on the social spending plan get the house to pass the infrastructure plan before transportation funding runs out. manchin says it will take some time. >> get the piece of legislation, agree to work the framework of that. that will take a little while. with that being said we have to trust each other we should be able to vote immediately on the bipartisan infrastructure bill which is tremendous piece of legislation for the president to take -- also knowing in good faith we have an outline working out details with all the fine print. reporter: before he goes to glascow the president will go to scranton, pennsylvania, tomorrow, to gin up public support for these plans while democrats duke it out in private. jackie. jackie: they have a lot to do in

a short amount of time. hillary vaughn, thank you so much. meantime progressives and moderates not even talking in the same room today don't appear to bode well for a deal despite what some lawmakers are saying. bring in "washington examiner" white house correspondent sarah westwood. great to see you this afternoon. what do you think we'll get out of meetings today, interesting from hillary's report in the sound bite, progressives saying compromise is the same thing as throwing crumbs. >> that's right. not that we'll see the ball moved at all from the meetings today because so far president biden's involvement in the talks over this piece of legislation hasn't really been helpful at all. in fact you can make the argument it has been harmful to democrats chances because he muddied the waters what the white house finds acceptable and timeline for passage of both the partisan infrastructure bill and the larger reconciliation bill

the source of con sister nation among the democrats -- consternation. biden is not helping the negotiations as he appears sympathetic to both sides in a way that confused the debate. he could get out there to tell the piece of legislation to the american people a piece of legislation not polling very well. that doesn't really have an identity to most americans except for its price tag because democrats haven't been using this time to really pitch what is actually going to be in it. but we don't see president biden focused on that. jackie: he will focus on it tomorrow in scranton, you're right, he has not been out there, because the debate is so fierce when it comes to the 3 1/2 trillion dollar price tag, what it is included in there. he needs to get both sides to come together. he will not get a deal that will cost that much. i look at meetings this is more symbolic, a little pr massaging? >> you don't see biden really trying to work to get

progressives and moderates in the same room. you don't see biden really huddling with congressional leadership, speaker pelosi and senate majority leader chuck schumer who are really the tip of the spear so far in terms of trying to reach a resolution here and you also don't see biden doing what i think could be one of other more effective things that he could do to move this along and that is taking an actual position himself. if he were to draw a line in the sand, this is what i think everyone should get behind, this is what a compromise looks like this administration finds acceptable it might be easier for the progressives you mentioned sitting there, nagging on the idea to accept compromise to have political cover to get behind a compromise. the same goes for the centrists. biden isn't doing that. he is not taking a position. he not out there pitching to the american people n a lot of ways the meets he is having today are largely symbolic because his involvement so far produced virtually nothing in the way of

progress. jackie: sort of reading between the lines here. he is running out of time to get this passed. the goal is to get it passed. almost seems like you're saying he is not doing enough to hit the deadlines so what exactly do you think he is trying to do here? >> well, so far he is really just been playing a symbolic roll helping to facilitate the negotiations, not doing things i mentioned, getting on the road, talking about the bill, taking a position, to get democrats behind it, some sort of compromise. the urgency democrats talking about, need for this bill, intense rhetoric surrounding it, doesn't really match how slowly they're progressing on the negotiations. now the ticking clock of a real deadline is removed when they blew past it in late september. no one really thinks the october 31st deadline is realistic. democrats don't have incentive to bolt, ones holding out for

demands. jackie: the biggest problem he has essentially he bit off more essentially than he can chew when it comes to a $3.5 trillion package t was so important to the administration to pass it through because essentially it made promises to the progressives when it came into office it would sort of represent the entire party. this is the a party that is on a wide spectrum right now but the american people don't feel like, especially at this point in our recovery post-covid, everything we're dealing with supply chain, inflation, they don't want to pay for it. >> as i mentioned earlier the democrats have not done a very good job framing the bill, what is in it, why it is necessary. to the average american all they really know about the bill the fact it will cost several trillion dollars. that is increasingly tough sell against the backdrop of all this economic uncertainty. biden hasn't really done a good job trying to articulate why the piece of legislation is

necessary. as we get into the midterm year it will be obviously more difficult to pass it. also sort of baffling that president biden and the white house haven't been more aggressive saying, while we have these ongoing, seemingly endless debates what ends up in the reconciliation billet's go ahead and notch the win for democrats to pass the bipartisan infrastructure bill successfully negotiated between republicans and democrats, very rare feat. it polls well with people it gives biden success to tout on the campaign trail but biden has shown very little interest in getting that in the end zone, focusing on the quicksand. jackie: sarah, sometimes they say take the small win, take it and run but you're right, that is not what he is doing here. great to see you this afternoon. thank you. >> thank you. jackie: oil prices crossing the 83-dollar per barrel milestone, our president, resident, phil flynn rising oil prices once considered to be a sign of health in the global economy but

the winds have certainly shifted here. price futures group phil flynn is here with me to explain. phil, you and i had a lot of conversations about oil, and you're right, when we see prices go up historically there is a lot of demand, it is booming, i'm not saying it is not that we're in recovery mode but there are other factors in play here. you heard my discussion with sarah, one of the issues in the $3.5 trillion reconciliation package would include regulations for the oil industry even more and that would send prices up further. that is the push and pull we're seeing here. >> you're absolutely right. i do accept your nomination as president, thank you very much. but no, you're absolutely right. listen, i love when oil prices go up because of supply and demand. when the economy is doing great, everybody is feeling good, everybody has a job. they're making a lot of money. oil prices go up you can produce more oil.

that is the theory. the bigger the economy grows the more oil you go. we have got an a economy that is coming back from covid in a big way. demand is going through the roof, but it is going the government has printed a lot of money but at the same time they're not allowing the energy industry to grow with that, to keep up demand. that is why you're seeing energy crisis around the globe. jackie: sorry to interject, you're right, this is not an administration wants big oil in this country to do well. if anything our production is down. president biden begging opec to produce more. that is the opposite what we want here at home. >> you're absolutely right. i don't get it, i don't get it. i think after being in office for as long as he was, i think three weeks ago he reached out to the u.s. energy industry but at the same time this is an industry that he demonized, right? this is an industry that pollutes. they need to pay carbon taxes.

they need royalty taxes. banks that invest in there, you're bad guys because you're adding to the carbon footprint. they're even discouraging american banks investing in american countries. now, you have given the power to opec and russia. look what is happening in europe right now? vladmir putin is holding europe hostage over natural gas prices hey, if you go along with me, we'll give you gas, but if you don't go along with the nord stream pipeline, all the things i want, you will have a very expensive winter. jackie: that is what i'm concerned about, seeing power shifting back to countries not necessarily on the united states' side. >> exactly. you're absolutely right. the united states energy industry changed the world with the shale revolution. it put those countries on notice we weren't going to be taken advantage of. you can't hold us hostage. we gave that all up by retreating from that stance. now we're giving the power back to opec and russia and we're

already seeing the impact on average americans. it is already costing them more to fill up their tank and go you know, heat their homes. they will have big problems this winter. jackie: it is. they're paying, more, phil for everything else too and it really hurt to see staggering prices only forecast to go higher from here. >> you're absolutely right. from the biden administration it is all talk, no action. people say not biden's fault, this, that the other thing. name me one thing that the biden administration has done to bring down prices. they can't name one thing. jackie: i hear you, i hear you. it's a kitchen table issue. something that americans are feeling as we go into the holiday season i think it will be tough on budgets. we'll continue to watch it. >> i'm worried about stuart varney driving to florida. that will cost a lot of money. we better take up a collection. that is long way. jackie: president phil, you have

my vote in the next election. >> thank you. jackie: staying on the inflationary pressures, proctor & gamble with big earnings beat today. the company says price hikes are helping to offset some of its cost but warns higher costs could slam earnings in 2022. other companies are worried too. macro investing partners mitch roschelle is good with us. always good to see you. good afternoon. >> good to see you, jackie. jackie: throughout this process the get is saying it is transitory. we've been saying it lasts longer. vladmir putin says supply chain problems will go well into next year that will keep inflationary pressure on a. the tipping point, after the pandemic, people had money, saved money, want experiences it will have a cooling effect, a chilling effect on this economy no doubt, right? >> yeah. the problem is, what i will call the elasticity of demand. think about it as a rubberband. you can only pull the rubberband

so far before it snaps and i think that is what proctor & gamble is saying today, we can pass some of those costs along. consumer staples was the place a lot of portfolio managers were allocating money, because we figured those companies could pass costs along. at some point people will not continue to pay. use that razor two more times. not buy a new one. that ends up starting to happen. they did warn, this is the thing i have been worried about. they warned the costs are creeping up. talked about it with phil. $83 a barrel. the stuff that you buy, they make, has to get shipped from point a to point b. costs more to ship it. jackie: if you can find a razor on shelves. we see some pictures of shelves that are empty. consumers can't get products they need. that supply chain crisis was caused essentially when we said to people we'll pay you to stay home or pay you more to stay home. people stopped coming to work. now we have a labor problem on our hands as well.

>> right. and this has been from the start of the pandemic when we shut down the supply side of the economy. this has been a supply side crisis. right now the administration is blaming it on demand and saying because the economy is doing so well demand is up. no. the supply side is still broken. the effort should be fixing the supply side, not overstimulating the demand side. jackie: i will just note that the administration is also saying that about oil prices. oh look at the demand, look at the demand. that is not the full story. covid is wonderful cover for a lot of the problems that we're facing right now but you got to dig deeper, folks. mitch, good to see you. thank you. >> you bet, jackie. jackie: still ahead the first-ever bitcoin futures etf is making its debut today. will this send bitcoin prices to the moon? ♪

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stock exchange and investors seeming to like it. bitcoin near a record high. constellation research ceo ray wang is here. ray, great to see you here. i actually thought there would be a better reception to the etf itself that seems to draw investors in. you're seeing positive gains in the actual cryptos but the etf isn't trading as strong. i want to get your reaction. maybe it takes some time to get traction? >> it definitely will take some time to get traction. we have four more other etfs are coming but it will show that there is scarcity on bitcoin as institutional investors jump in. what will do well the sec sanctioning, the regulation is in place. we're feeling more comfortable about bitcoin. we've gone from cool, interesting fad to early adopters and we're now in the general acceptance phase. jackie: you make a good point. one of the headwinds going into the cryptocurrency space is

regulations. they haven't really come through. >> it's a good point. china, interest rates, elon musk, they haven't even dampened what is going on with bitcoin in general and cryptos and so having this finely approved, saying shunned by the sec. there are four other ones coming, valkyrie, van eck, proshares, one has very interesting stock symbol. we won't talk about that too much. we're seeing interesting sec approvals. this is going on in canada quite some time. but not anything new. having the u.s. government, having sec play a role will definitely lift bitcoin prices that means over time individual investors use bitcoin assets. strategy companies as they do get to funds, portfolios, see the rise in bitcoin price. as much as $80,000 by the end of 2022. jackie: wow. i'm looking at the price chart right now. this isn't something you can

follow every day, not long ago it was literally trading in the 30,000 range, not all the way down to 30,000, but at that handle. looking at bitcoin at 62,000, it has come a long way. what has really changed in short amount of time other than obviously we do know these are speculative plays? >> there is fall crowd of cryptocurrencies. 80% are junk. start with the fact there is no intrinsic value. bitcoin is there because it has scarcity. only certain number of coins will be mined. the total number of coins will not change. people feel comfort in it. the next set of cryptocurrencies involved in the contracts and commerce aspects, value exchange, and that is where ether, solano, people are interested in the core dawn know, people are spending time how ha plays a role. ripple -- jackie: you mentioned tight supply, one of the reasons

investors using cryptocurrency or bitcoin specifically as a hedge against inflation. we're feeling inflation pressure too. i have to think that is somewhere priced into this as well? >> yeah. inflation is there. this is the new digital gold. people are jumping in for the same reasons as gold. it has better return so far in the history of bitcoin. jackie: ray wang, great to see you. thank you. >> thanks a lot. take care. jackie: okay. big tech is facing some backlash as a bipartisan effort is pushing for a crackdown. kelly o'grady has the details for us. nice to see you, kelly. reporter: great to see you too, jackie. listen the government's crackdown on big tech continues. senators klobuchar and grassley announced a plan to introduce the american innovation and choice online act. that may sound familiar because it's a companion bill passed by the house judiciary committee awaiting a full vote in the chamber. this bipartisan effort will have profound implications for big tech. they are ranking their own

products higher than rivals an mining third party data to undercut and copy and price. however some critics worry this legislation will suppress innovation in the u.s. and possibly impact the consumer negatively. >> consumers could see features that they know and love prohibited by regulations and that's not the way that we innovate here. we don't want policymakers trying to dictate what products or pages are in your search results or what apps are appearing on your iphone. reporter: critics also worry this legislation could hamstring the u.s. on a global stage. jackie, we're embroiled in a tech cold war with china and folks of big tech may be the country's best chance to retain the competitive position. this is happening as amazon is accused of misleading congress how it used third party seller data. amazon has to submit evidence corroborating its claims by november 1st or potentially

face a criminal investigation. listen on all fronts the momentum to rein in big tech is undeniable but it remains to be seen whether lawmakers can enact change or this will be little more than political theater. jackie: it sure does. kelly, first time we've been on the air together. welcome. reporter: thank you. jackie: straight ahead on the show, more details on china's suspected hypersonic missile test and the criticism the white house is facing for it. got it. when we return.

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>> generally speaking we made clear our concerns about the military capabilities that the prc continues to pursue and we have been consistent in our approach with china. we welcome stiff competition but we do not want that competition to veer into conflict. jackie: that was white house press secretary jen psaki facing criticism about those comments

china testing hypersonic missile. north korea has launched a submarine fired missile as well. we have former "wall street journal" bureau chief in moscow, claudia rose set. great to see you. she says we're concerned and consistent but we're not looking to engage in any kind of conflict here. look you can say whatever you want to say about president trump and how he approached this, when it came to president xi and kim jong-un he had them in check for quite a time. >> yes. he was telling american people and the world about the real threat from china, what we heard from jen psaki floored me. stiff competition, that would apply if china were a modern democracy which it certainly isn't making sneakers. this is a raw act of aggression, a hypersonic missile. they're testing that for us. that is who the likely target is. at least to blackmail us.

this is a real threat. and it is not, to call this stiff competition is just a disservice to americans who need to know just how bad this threat is. jackie: yeah. she was caught lying on the podium yesterday a bunch. she was lying about the bidens, for example, not wearing their masks indoors when in d.c. you have a mask mandate. that was a separate conversation. she is really getting crafty to some of her answers because her back is essentially up against a wall. we look what is happening with our international policy right now. you know i think the focus right now is so much on spending, so much on what's happening here and essentially this is an administration that doesn't really care if china gets the upper hand. they have already told us that that is what they're gunning for. >> this unfortunately is where it goes if the line that we just heard is really the white house policy. these talking points where jen psaki also in the same response to a question about

ff competition as they welcome it to veer into conflict. well that is a recipe where china keeps pushing the line, keeps pushing the line. the u.s. falls back, calling it stiff competition, what that does it moves the line. this is really, it is important to understand just how big this showdown is. this is a showdown over what kind of world future we'll have probably within the next few years for this century. it's a contest -- jackie: no you bring up so many great points and you have lived abroad. you i lived abroad. i lived in china and beijing for some time. i understand the culture. i was living with a host family at the time, i started to see in a sense how the ccp was indoctrinating its use, the discipline, it is palpable. people really don't understand

what china is doing here. they really do need to understand it. yet you have an administration trying to sort of downplay everything that is happening. it is scary. >> that is exactly right and it is really important, what i would say about president trump's policy on china, whatever your opinion on president trump he was rousing the world, was really necessary alarm over china's ambitions which are just enormous whether they're building up the military to match, they're doing this on every level, in our universities, pilfering of intellectual property, subverting the world trade system. look what they have done to hong kong with a last free society a communist regime, leninist regime committing genocide in shenzhen to full fill its ambitions. buzzing taiwan, because

beijing's communist party does not wish to allow that. they're threatening us. it wasn't only jen psaki, defense secretary lloyd austin said much the same kind of response when asked about this chinese hypersonic missile test which can possibly negate our air defenses. we don't want to ramp up tensions in the region. this is not regional. this is a threat to the united states. jackie: absolutely. >> to all of the allies in the free world. that is how big this is. jackie: it's a very strong point. i want to get your thoughts on one other area before we go to break. russia, vladmir putin, the energy crisis that we're in here at home as a result of what the administration has been doing, we are getting gouged at the pump. biden is begging opec to increase supply. you have got russia gaining more of a foothold, our production now below what russia is estimated to be producing. when we were the world's number one producer. >> sure. yeah, wouldn't it be nice if we

were energy independent again and producing for export? exactly, what president biden has done in the name of climate and seeking common ground with china on things like climate where they have actually ceded immense, u.s. suffers penalties now, china promises to do something 10 years down the road, later, 40 years. it is tremendously damaging to our security as well as our wallets, and it would be so easy if the biden administration would just say, we actually need to be producing the energy we're capable of. that would be a huge step forward. you would pace less at the pump. the country would be safer. jackie: i remind everybody we had oil prices sub50 a long time. $83 a barrel today, now we're talking about numbers $100 a barrel. claudia, grade to see you. we're talking about the supply chain crisis and how it is coming to a school near you.

jeff flock has the story for us. reporter: i'm sorry, jackie, i thought that was a tease. sometimes i get confused. there you go. i tell you we're in folsom, pennsylvania. oh, take a look at this. it's a tease. okay, well, better stay tuned, i have more to say later. (vo) while you may not be closing on a business deal while taking your mother and daughter on a once-in-a-lifetime adventure — your life is just as unique. your raymond james financial advisor gets to know you, your dreams, and the way you care for those you love. so you can live your life. that's life well planned.

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♪. jackie: the latest victim of the supply chain crisis, you're not going to believe this, it is school cafeterias. shortages and delays of everything from chicken to lunch trace, impacting school men use. jeff flock is at a school in pennsylvania. he has got the latest. hi, jeff. reporter: jackie, hello to you. things have really changed in the high school cafeteria since

i was in school. look at this, this is all fresh food here. fresh taco meat, black beans. the problem is, to who runs the school district here for 5000 kids for their food it is hard getting stuff. >> we never know what is going to come in off the truck. we're hopeful, we do everything we possibly can to insure students receive nutritious meals day in and day out. reporter: it is amazing, jackie, when they get stuff, they try to stockpile it, they are not sure when they get it. this was the teachers lounge or place where they eat. you commandeered this. this is the stuff you've been able to kind of squirrel away. >> there is a lot of commodities here we stocked up, insuring we have enough food for our students. reporter: survey done recently, that found almost all of the school districts in america are concerned now about supply chain issues. also you have trouble getting people.

it is not just food. this is, what is this? these are trays? >> this tray is what we serve every elementary school age student in meal line. without this it is very difficult for a little one to get to their table without spilling product. it is critical for school lunch. we can't seen get these. reporter: the other thing, when the suppliers don't come through, sometimes you order stuff, they don't come through, you go, go to basically the grocery store and load your own car up. >> that is what we have to do. all my colleagues are in the same boat. we're doing possibly everything we can to get the food to districts, to make sure students receive nutritious meals. reporter: there are regulations about the nutritious meals they have to meet. this is diceed peaches. we love those from school cafeterias. the supplier didn't have them. you got them somewhere at secret

location in philadelphia. >> yes, i can't disclose that location but i have a secret source for fresh and canned fruit. reporter: that is interesting. we laugh about it. it is tough all over. when it hits the schools, really kind of hits home. jackie: it is not a laughing matter, jeff. so nice to see here fighting for and fending for her students. this is a huge problem during the pandemic when schools were not in session. children weren't getting meals they needed. to think they have to scrounge around for supplies now to make sure they're fed properly. it is heartbreaking actually. thank you for that report. reporter: yeah. jackie: our next guest, carl howe ward, has 217 restaurants across the country and says that labor and food costs, inflation that we're seeing, it is real. it is great to see you this afternoon, carl. seems to me you probably have a bit of an advantage with economy of scale because you have so many restaurants but this is going to really impact the little guys, already if they were able to survive the pandemic, correct?

>> yeah, absolutely. thanks for having me on, jackie. it is tough for everybody even companies our size or companies as large as domino's reported their first negative quarter in the last 10 years because they're short of drivers. we're definitely in a major labor shortage. the cost of labor just continues to rise. jackie: so we are watching this sort of progress as we head into the holiday season. it's a busy time for restaurants. it's a festive time for americans. they certainly want to celebrate, as your costs go up because of labor input, gas prices for example, probably impact you as well. also the cost of food. some of the meat and poultry items skyrocket if you can get them. how are you managing it? >> we have to think differently about everything. we're headed towards this stealth inflation. it will catch everybody by surprise because they're getting hit from all channels. whether it the price of gasoline, soon international gas

prices will go up. we have to take price increases. we have no choice. many other chains are doing the same. qsr burgers up 10% over 2019. the restaurant industry is definitely taking price. we're passing it along to consumers, that we don't have choice to keep our doors open. jackie: that makes sense. i understand it. i wonder, this is a conversation we're having some period of time, is there tipping point where consumers say it is too expensive to eat out this many times a week so we need to cut back? >> yeah, absolutely. that is the biggest fear we all have, inflation rises to the point where there is no discretionary income because everybody is paying more for gasoline, natural gas, the regular daily goods. your left over money to go out to dinner is evaporating. this something weighs on every ceo's mind. you have to think differently how you track the consumer. you have to provide extreme value right now in order to

really gain share. jackie: one of the things another restaurant owner suggested to me, something they were doing is shrinking portion sizes so they didn't have to hike the prices that much. they're all different ways you could do it. at the end of the day the consumer is kind of the one that will get squeezed. you guys as business owners are in a tough place. i don't envy your position either. carl, thanks for coming on today. >> yeah. thanks a lot for having me. jackie: coming up, buying or building? you might run into some hurdles if you are in the market for a new home. we'll have those details coming up after the break. as an independent financial advisor, i stand by these promises: i promise to be a careful steward of the things that matter to you most. i promise to bring you advice that fits your values. i promise our relationship will be one of trust and transparency.

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♪. jackie: the housing market is still hot but hitting some snags because appraisals are not keeping up and we've seen some deals fall through. grady trimble is in illinois with more on the growing trend. hey, grady. reporter: jackie, appraisals are coming in under the contract price. it is happening more and more frequently. we'll show you a chart that illustrates that. that is data from corelogic. if you look more recently, 13% of appraisals came in under the contract price in august. that is down from 19% earlier this year.

the normal level is right around 7%. that illustrates the trend that james crow is seeing. you're an appraiser in the chicagoland area. part of what is causing this, james, these bidding wars going on, it causes this mismatch. >> there is an auction mentality out there. there is a shortage of supply and numerous buyers and money is cheap, 3%. everybody wants to get in on the game, get that house, get out of covid and get some spaceport. reporter: what do you do as aappraiseer to prevent these headaches. >> now it is more micro. it is not what is going on in the last 30 days, but one week or two weeks. the market is changing every single day. reporter: you're looking at more recent comparables. what are you doing if the data is not available through the normal channels. we're calling local real estate

agents asking them what their sales price is, pending sales are, or, we're looking at only sales that have closed in the last 15 to 30 days. that is the reaction. reporter: jackie, no signs of stopping in terms of these home prices climbing. so appraisers trying to keep up with that and do the best they can so these deals don't keep falling through. jackie: saw that stat that goldman sachs is forecasting next year. another 16% hike in prices throughout the housing market. so it is really interesting to watch this play out. grade di, great to see you. thank you. more tough news on the housing market. huge miss on housing starts because of labor and supply issues. let's bring back mitch roschelle to get his reaction. mitch, when it comes to raw materials i found this so interesting, copper prices up 16% since end of september. demand is high, supplies are low. lumber prices hit the peak in may. they dropped. they're back up again. this is an issue the supply

chain crisis we're in will plague us well into next year. will continue to drive prices up. that means building goes down. >> right, jackie, availability is probably a bigger challenge for builders than just the sheer price. some of the price they could potentially pass along in a rising market as grady talked about with the appraiser in a previous segment. reality if they can't get copper for the pipe, can't get refrigerator you can't deliver a home. i was in a conference in chicago. i was talking to a lot of homebuilders. they have cut back production by 50% because they can't deliver homes. you don't want to have a mismatch when you have a buyer expecting a home. jackie: yeah. >> i think this will continue for quite a while. jackie: what do you think about the bidding wars going on across the country? some areas are hotter than others. we've seen through the pandemic a exodus from the tougher, stricker higher tax blue states to the red states not charging

income tax. i'm wondering a 20% growth year-over-year in prices and other 16% to come. how hot does this market get? >> it is pretty hot. it is not a bubble. it is a boom but it is sustain able because if you look at the supply demand imbalance we have record quantity of existing homes on the market. we talked about the fact that builders can't build new ones. demand is coming strong from a lot of places. people migrating from one part of the country to another. basic household formations statistically children move out of parents home. we have excess demand over supply. simple econ 101 that will drive prices up in the foreseeable future. jackie: mitch, in new york city, the price, i'm sorry sales hit 30-year high. people are going to where they

want to be. it is fascinating. thank you so much. great to see you. >> we'll see you soon. jackie: coming up on the second hour of "coast to coast" the supply chain crisis showing no signs of slowing as nearly two dozen cargo ships are waiting offshore in georgia. we're live at the port of savannah with the latest on that. the fda reportedly looking to change up options for covid vaccine boosters. what the agency is eyeing when we come back. ♪.

jackie: ♪ ♪ 'a video "coast to coast" i am jackie deangelis and for neil cavuto markets are racing ahead on an earnings report, the top stories we are watching as our president biden about to make a major push in our, karl rove on whether democrats can briskly majority in the midterms and if they do not come together soon. then crypto craze, it's not so crazy anymore the first piquant etf trading today how the united states is leading the way on

this trend in the global energy crisis is boosting the demand for coal but there is not enough people to do the mining we're live in west virginia to look at that problem that started in washington but first with prices of oil and gas continuing to skyrocket president biden is looking to strike a balance between progressive climate priorities and rising inflation pressure, hillary vaughn at the white house with more on where this is all going. >> people are feeling the pain at the pump, president biden knows it but instead of reversing his position here in the u.s. the white house is pushing opec to produce more. >> we are continuing to press through member countries of opec even as we are not a member to address the supply issue and work to address it here as well i would also know what were working to address is more of a logistics issue of how removing supply around the country.

>> gas prices are hitting seven year highs that's adding to high inflation that americans are being hit with as stores for everyday goods there also working to move gas around the u.s. more effectively since some parts of the country are seeing more shortages than others they also promised a crackdown on price gouging at the pump before vice president mike pence on fox business said the common denominator for why gas is going up is bad energy policy in the biden administration giving up u.s. energy independence. >> you think you can draw a straight line to the policies that have been essentially waging war on american energy and american energy independence to find the root cause of the inflation that american families are expressing today. >> the white house is reaching out to the oil industry in the u.s. on how to hip down these prices but there is not a lot in

the sector, the white house continues to say that they want to effectively shut down and replaced with green energy. jackie: is remarkable what people are paying at the pump, obviously they're dealing with that at the same time we have supply chain logjams, i want to move on to that, two dozen cargo ships anchored offshore in georgia waiting for their turn to unload jonathan very has the latest from garden city georgia. >> no one has ever seen anything like this here the folks at the port of savannah are remaining nimble in dealing with it there is a hub of activity behind me over here you have multiple vessels, cargo vessels actively loading and unloading and over here you have a massive construction project that is being expedited to expand the

port to meet increased demand, take a listen. >> today the velocity pickup which is great 30% of improvement, secondly were bringing on new projects that we discussed, your capacity, real capacity. griff lynch says he expects more normalized operations by december with ships waiting off the georgia coast reduced from the current two dozen a day to summer in the teens or single digit if we take a look from the drug you get a better sense of the massive scale at the 1500-acre facility which is the largest single container port in the u.s. and the third busiest. the increase ability to move the stacks of shipping containers that have been piling up during the supply chain disruption comes out as a relief on the receiving end because after all time is money. >> you have something sitting on the dock and you cannot access it that means it's a demand that

you have to bring in by airfreight at a higher cost, you are losing sales in your dollars are tied up in inventory. here at the port there are three massive expansion projects underway, one taking place right where i'm standing in a matter of months this will all be water they are straightening a bend in the savannah river that will allow the largest container vessels to come in because it is more efficient to offload a single vessel instead of bringing in the equivalent amount of cargo on multiple smaller ships, it's about making the supply chain more efficient. jackie: thank you so much for that, something we will be watching very closely and something else that we want to bring to your attention. something to think about in context. as a race to the midterm democratic leaders in the house are running into what could be a problem if you will fox news

congressional correspondent chad pergram has the latest from us from capitol hill. >> good afternoon democrats know they have an uphill battle to hold the house in next year's midterm elections they have a three seat majority but the recent retirement of three veteran democrats fuels doubts on whether democrats believe they can hold the house next year one retiree member's budget committee chairman john of kentucky. >> it will do much more for the american people inside that progress we will unfortunately not be done on a bipartisan basis and not chairman the house budget committee puts me in a pivotal position to help build a better future for citizens. >> some believe he doesn't think he would be chairman in 2023 says the gop may claim the house and democrats argue this is why they need to pass the big social spending plan others believe that will backfire in the spending spree gives it a lot of ammo even if democrats do not pass the bill, just this week

longtime democrats mike doyle and david price announce their retirement and the overall number of democrats who are retiring is slightly behind the typical average. jackie: about to dig into, thank you so much for laying it out for us, there are fears about retirement and if democrats risk losing the house majority in the midterms if they don't make a deal on infrastructure, let's ask former bush 43 deputy chief of staff karl rove about it. great to see you. i'm going to back for a moment and say when president biden was on the campaign trail he made a huge fuss how he was going to be a unifier and bring the whole country together not only have we not necessarily seen that we can't see him unify his own party right now when it comes to the spending bill. >> that's absolutely right, there is an issue of confidence if a party cannot get his act together and if it controls the

house, the senate and the white house and doesn't get things done it does call into question their confidence. there is a bigger issue here, you mentioned the campaign during the course of the campaign we see lots of events traipsing around the country saying if you elect me, were gonna spend three and a half, $5 trillion on a gigantic expansion, we did not. if you are running for president you better prepare the people for what it is you want to do or you going to see what were seeing now which people are saying wait a minute you get to spend all this money after we spent all this money, you're gonna raise all the taxes and add to the deficit and give away the free stuff to everybody, how can we do that. i think if they do not pass it the welfare expansion bill and frankly will be marginally better than if they do pass it. in march of 2010 they pass the gigantic thing called the affordable care act and the democrats got walloped in

november losing 63 seats, i suspect the same thing might happen if they do pass it which i do not think they will. they will see their losses be bigger than they would be otherwise. >> that's a really interesting point, there are voters who feel there was a bait and switch what he got up and said he was going to do versus what is trying to do right now, the big question is this if they do not pass it now then there drawing the line in the sand, do you think they would forgo that to do better in the midterms, if they pass it they will probably not do well in those elections. >> they're not going to do well in the midterms since 1818 in the second political party system political scientist there's only been to first her midterm elections were the white house party has gained seats covid-19 34 under fdr in 2002 under george w. bush he happens to be in the white house, i knew the unusual circumstances and

the gutsy political calls that the president had to make to make that happen. we will not have that in 2022. we will see more like 2010 or or 1984 or 1992. they suffered in the house and the senate and will see it again next year, no if's, and or butts, the only question, how big the democratic losses going to be the average in the modern era and the first turbine turn has been 26 seats that suspect democrats will lose over 20 but how many they will lose will be determined by the quality of the candidates and the quality quality of the campaigns but they will lose the house if you have it by three seats as they do today were five seats by the special elections and very democratic seats that is not enough to sustain them. jackie: you mentioned 2022 specifically that's when the midterm elections are now were looking ahead at the end of the year we have inflation on our

hands that does not appear to be going away we have a supply chain crisis that the white house is admitting that will last until next year they're not really positioned well, there's so many voters as i said that feel like they got bait and switch especially suburban women i'm shifting to a different gear to show you how many places they have gone off course but when it comes to law and order in crime in this country it is something that people are suffering from and worried about and it was women who gave biden the nudge in the white house and these are the issues when they go to the grocery store and paying for fuel at the pump when they do not feel safe in the community then they pause. >> absolutely you mentioned women, independent women take a look at the real clear politics on the economy and get a be off a little bit i think is like 44 approved, 50% disapprove but that's made up of six poles in september and october and if you look at the three that were conducted in october only the

president's job approval is something like 41 approved, 52 disapprove that is to say it's getting worse and as people have to go to the grocery store and buy christmas presents, as people have to flip their cars, they are going to feel this economic pressure nearly two out of every three americans think the economy is going to the wrong direction of the country's going to the wrong direction that does not go well for the party and the power particularly the losses in your standing are disproportionally among the independent voters and independent women in particular. jackie: it was shocking to move into a different direction yesterday because jen psaki was at the podium and peter doocy asked her about the biden's going on a date night to an italian restaurant and they retracing to the restaurant and they were not wearing masks and there is a mask mandate. jen psaki essentially lied and said they did not have time to put their mask on. , all of this messaging i don't

think they're being straight with people people are starting to come to the table and wake up and realize that. >> i'm so disappointed that you're so cynical that you don't believe the president when he says the welfare expansion bill is going to cost 0 i'm so disappointed that you don't believe the truth in that. i'm so sad that you do not believe the president of the united states did not have time when he was sitting in his car and his limousine to put on his mask or walk-in, it is so sad you cannot believe these excuses that they're giving out, you probably don't think the retreat from afghanistan was perfect and executed as they also claimed. you're exactly right they think we are down, there being cynical and think that they can get away with it.. jackie: thank you for being with us. >> thank you for your interest in copper prices i'm astonished

that your that interested but you know your stuff with it comes to metals. jackie: self profound. great to see you. a major milestone in the crypto currency as the etf makes its trading debut today. we have the details will be come back. ♪

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jackie: welcome back a big day for bitcoin the first bitcoin features pulling back a little but after seeing the 3% surge earlier in trade its new york stock exchange debut today fox business correspondent ashley webster has the latest for us. >> analyst say this could be a watershed moment that is fighting for acceptance and endorsement from financial regulators for years. the etf from trades under the ticker signals be ito and it attracts the futures market, and gives them exposure to bitcoin

without them having to hold the crypto currency directly right now is trading at 41 - 47 and opened up $40.88, volume has been heavy around 17.8 million, more than 6 million shares in the first 20 minutes of trading the etf also is a decade-long push to get crypto onto a legitimate exchange but again this is not exactly the holy grail because the futures based etf tracks the contracts as opposed to the current price of asset and therefore they will not match the price of bitcoin and buying and selling meaning investors will need substandard performance of cryptic keeps rising, all of this has helped the price of bitcoin it jumped more than 62000 right now 63354

is expected of more traditional finance firm will follow in the footsteps. it could debut later this week. the big question when can the fec finally give the green light to direct bitcoin investing, that is the holy grail the commission has rejected numerous proposals going back to 2013 and it could be a while yet, sec gary gensler as we know has consistently said he does not see much long-term viability for crypto currency. in other words not a big fan. jackie: he doesn't seem to be a big fan, investors are because those prices are rising. great to see you. jackie: let's get crypto currency in block chain, the ceo

admits group the block chain ceo, let's talk about the future crypto ashley laid that out really well and why this etf is not performing necessarily so wonderfully today where you see this going, the regulation hasn't came in the way that we thought it would get investors using this as an inflation hedge, they seem positive when it comes to this group. >> when you look at etf's and the entire crypto space the crypto community if you will call it that is not looking to purchase necessarily etf enacted and approved by the ftc proves that is legitimate, continues to push for the growth of the entire space, that is more so what is happening, how that

affects the random market will be interesting, what are we going to see over the coming months and if the sec, with a regulate and will they not, it's inevitable on some form regulation will not happen, the best thing i tell people is focus on the long-term, by into currency that you believe in and have your money gets all the money that the biden of administration is puppet into all the economy. jackie: when it comes to block chain and comes to crypto there is competition from china that sent the price of bitcoin down as people started to understand what that relationship is. times are turning a little bit as the minors are exiting china, how exactly does that work? >> basically because china outlawed crypto currency in mining you had all this massive

mining companies and have all these machines and potential amounts that they could be making with nowhere to mining so they started moving to different contracts especially here in the united states were the united states has become the number one mining country and the world. we will start to see because of the sec backing down and not pushing against crypto too much and with the low energy cost in many states across the united states this will continue to become the number one crypto hub in the entire world and 30 been the number one financial country in the world and if you're adding the crypto piece it makes the growth of the u.s. economy grow more and for that matter the crypto space. jackie: those trying to learn a little more about this i remember reading the first time how much energy mining requires for all of the servers is

obviously something that we are talking about and so many different ways, shapes and forms and different conversations. can you walk our viewers through that? >> crypto mining is confusing because it's hard to process, i would consider it the real estate of crypto, you are owning this machine that is producing cash flow every single day in the asset that is producing which should be crypto currency is appreciated in value your biggest cost is going to be the cost with the machine that is obviously like if you're preaching a rental property but besides that you daily cost is your energy cost what minors are looking at like greg abbott in texas, i'm from austin and houston there trying to make it a hub because there is low energy cost in texas, if minors can get down to 4 - 6 sent kilowatt rate and make them competitive and a lot more profitable. but if you and states like california, sometimes new york

depending on where it is if the rates are extremely high in the currency is not profitable at the time you can put these in negative cash flow having an effective location and being back by your government and local utilities and having a resource that can produce power is essential. jackie: that is really interesting and something for investors to think about as we move forward. thank you so much for that. there is some demand for coal, coal generated power is on the rise, connell mcshane is live from coal country in west virginia with those details. it's been the best of times and worst of times for the coal industry in west virginia will explain in a moment. also new developments with west virginia senator joe manchin possibly giving this industry a brand-new lifeline. all the details when we come back from just outside of the town of west virginia. on cavuto "coast to coast".

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>> to have a future completely taken away by one signature. >> i don't want to draw unemployment, there's a lot of people in this country hurting and he just added to the list when he signed the papers. >> our youngest daughter is a junior in high school and she supposed to go to college, i don't know how i'm going to pay for. jackie: from pipeline problems to the coal crisis the green energy is having crisis across multiple industries and coal is certainly one of them chief national correspondent connell mcshane is in ohio west virginia with how the industry is trying to keep up. >> as interesting as the push is on to go green especially in the last couple weeks in washington there is concern that some of the majors were to push through pretty much decimating the

industry as is been known for years, as we talk about joe manchin looking like he's going to block that but it's already been difficult to recruit workers, even though the price of coal is up and demand is through the roof as we reopen post covid. >> public policy information of federal law which can have a severe and extreme impact on her business. i think that itself is keeping some individuals that would otherwise look elsewhere. >> there was a time in this particular area where we are and where right along the ohio river in the west virginia side, it was absolutely full of coal workers there was 100,000 coal workers in the state of west virginia in the 1900s is been declining down below 14000 as of two years ago down even more during the pandemic we met minors here who have chosen to

stay in the game in they certainly do not want to see that game ending anytime soon. >> were educated people, these mechanics, electricians, engineers, a lot of our guys have college degrees. it is not because you cannot find another job, it's because you work for a company that has a good wage and their providing for their family. >> is the last couple of days there's been big developments involving west virginia senator democrat joe manchin negotiating back, he's come out against the key component of president biden's climate agenda at the program with $150 that would've paid utilities from burning fossil fuels over the renewable sources of energy. that looks like joe manchin is going to be able to keep the out of the bill. that's a big deal they say if that was in the bill that could've decimated the industry and they're still concerned

about other components of what might end up in the legislation but there's a sigh of relief that that particular program seems to be on the outs. jackie: absolutely these are the components people have been fighting for, great to see you. a new report from the sec calling into question trading apps like robinhood, fox business charlie gasparino is in l.a. with the latest, great to see you. >> if he hears him screaming believe it or not there is a protest outside, anti-mask protest with american flags as this place with the l.a. protocol bear with me as i get through this. i have to put on my mask. the report from gary gensler was important for a couple of reasons including what is not in it and what we found out that fox business close to the

commission the gop commissioners pushed back on some of the major conclusions that chancellor had initially those were all designed for a massive change in market structure, he wants to get rid of payment for order flow and he wants to route customer orders to the major exchanges as opposing to go into dark rules is stopped short of that and rained on those issues. to take away from that is that he may push for the changes going forward but the commission knows it's in for a fight, probably the republicans in congress if they agree with what a lot of chancellor wants to do. the poll was very strong on the conspiracy theories that have been propagating the message board, twitter that there was a huge grand conspiracy of making shortselling when you do a short sale, you basically can keep you short forever and that is

destroying companies like amc, gamestop, the report says there is no evidence of that. it also says no evidence of a massive short squeeze, one company, one hedge fund went under because of the rise in shares of gamestop they were heavily short but it was not a massive, it was one company and not short squeeze is going on, if you're a small investor and you're looking to buy gme or amc because you think you're part of a short squeeze that will crush citadel and another hedge fund and make you a lot of money is the shares go up, buyer beware, the report says that did not happen then and it is probably not happening now. the tale of two reports, i do believe that gary gensler will push for market reforms but the report going to those explicitly. back to you. >> you have been all over the story, taking so much for the insight great to see you.

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jackie: video post reporting the biden administration has flown 2000 under age migraines to the state of new york since august. the reaction from the federation for american immigration reform dan stein, good afternoon to you as we heard the stories alleging that this is happening around the country but the post is saying that is happening here in new york, your thoughts? >> hospital foreign power cannot do a better job sabotaging the immigration controls the divided administration, then systematically undercover darkness, dead of night, dismantled one policy after another they destroyed the wall,

migration protection protocols if you get in your never going to be deported they've expanded beyond recognition, no longer any detention and secretary mayorkas have asserted on the limited right temporal aliens into the country under phony asylum claims or under any pretext that they wanted a prospect they will be removed. imagine if you came home at night and found ten people in your upstairs bedroom that nobody had talked about, are the american people so stupid or ignorant they're not entitled to know his coming into the country and how many why is this a secret, what is the agenda. jackie: that's a very poignant question i always bring this up would have the conversation about immigration we are champions for legal immigration in this country nobody has a problem with that. the issue is what's happening at the border and essentially senses a administration came in and created an open border policy to let anybody in injuring this pandemic when people were not being tested as

we see the cartels and coyotes profiting off of what is happening at the border off the backs of american taxpayers it's crazy to me that it is so much bearing of heads in the sand when it comes to this issue. >> they are doing this intentionally, they are co-conspirators with the cartels and smuggling operations, the smuggling operations know exactly what they're doing and how to manipulate the system secretary mayorkas invited believe this is appropriate for an unlimited number of people to patrol under parole into the country with no prospect that they will be removed taxpayers have to pay for education, housing subsidies, food subsidies that go on for years no modern nation in history survives the collapse of the border patrol, this is not only affecting national security and national self-determination why

did they not have a chance to participate in the decisions and where we kept in the dark and what is the reason is operating in secret and why is there no transparency. >> wanted the issues the recent announcement were going to reinstate remain in mexico that was one of the first things that they overturned and part of the problem but so many say with a surge across the border significant damage has been done here even if the remaining mexico policy is not just all talk but will be reinforced. >> it requires the cooperation of the mexican government but the biden administration has torched all that trump had not only with mexico but the northern triangle countries with agreements that had been negotiating. mexico will want a price to put in place. meantime divided administration is fighting to overturn it. the point is nobody could name one single policy divided administration has adopted since

january that makes it more difficult for somebody to immigrate illegally everything that they done to facilitate, encourage, rework, finance illegal immigration and hundreds of million of people that want to move here were at the cusp of a massive uncontrolled migration flow the likes of which we've never seen american history, the word has gone out all over the world this is what you do and that's why they're flying into take advantage of this. it is intentional. jackie: in the last 30 seconds your thoughts on what the agenda is, laid out for my viewers. >> they believe they can reengineer the electorate by bringing in people who become dependent upon subsidies and therefore vote democrat. they believe the future of the democratic party relies on destroying immigration controls. jackie: i hear you, dan stein, thank you for your insight. coming up the fda is looking to pave the way for americans to mix-and-match vaccine boosters. what you need to know when we come back.

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jackie: welcome back big news

for those looking to get the booster shots the fda is going to greenlight mixing and matching for fully vaccinated americans seeking the extra shot, great to see you you have all the details, makes and matches confusing people if they say you have the j&j you're better off getting one of the other two as your booster. >> that's absolutely right the idea is not you're not quick to stick with pfizer, they might want to mix it up and the reason is you get more complete protection, the national institute of health came up with the study that showed that your protection, your booster of antibody levels in your body is 20 fold if you keep it the same, the vaccine the same each time but if you mix it up it goes 6 r antibodies in your body that is much, much better, a lot better coverage and a lot better in

particular true for people who get j&j, this could be a real game changer, there's a lot of concerns about getting the booster shot but at the end of the day the shots to begin with really lose efficacy i have to tell you over time. jackie: something amazing that i read if you got the shot in march as i did and were now in october your efficacy has dropped to 3%. >> that is ridiculous a lot of people thought, all of the vaccines that you get you think of the flu vaccine last year you just assume this will too, not the case and in fact with pfizer 47% protection from 88% from infection, it is still 90% effective against deaths and hospitalizations, that is the standard that the feds apply if you're in washington and trying to bring the pandemic to an end that is what your goalpost is, mine is staying healthy and not getting long covid and that's why i got a booster shot. jackie: your senior standard is

having breakthrough cases is not okay. let me ask you about the dosages i've been reading mixed things, there's a quarter of what you got the first time, is that right? >> this is all up in the air there trying to decide how much to get people mainly because j&j was a one-shot deal, that changes everything and you have to watch and make sure you get the right amount they're talking about it right now we should have some information by the end of the week we will also get approvals for moderna and j&j boosters but i want to tell your audience right now these boosters are getting approved for 65 plus and they have some kind of condition coming into covid but i got a booster and had none of that i did not meet the parameters and all i did was download the cvs app, fill out the application, sign up for an appointment and i got it. i know you think there must be people watching out everybody does it the right way, not necessarily. jackie: if you got your shot

before the prescribed time or the age group or before the time was up it just sort of happening like that. >> i was just going to say if i really wanted to get the booster, i was coming to new york city and i did not get protected and i was able to get it early and i thought that was a blessing. jackie: we will be watching but the approvals of the other two boosters will be a big step in the winter everyone is worried about delta in the flu, and they're worried about this as well, great to see you. jackie: stocks are racing ahead, let's talk about that for a quick minute and investors are optimistic for third-quarter earnings season let's bring in strategy president jared levy, it's nice to see the markets rebound we had a rough stretch for a while it is optimism about earnings now it feels like the recovery is in full swing and most users are saying we have headwinds, higher costs, et

cetera we are still managing to juggle it and make the profit the bottom line. >> for now, great to see you the thing is consumers are able to tolerate the price hikes, we have stimulus and money in savings and we can handle these price hikes, i would think out of everything, all the risks that i have seen inflation in my mind is the biggest headwind going into next year we have a rising energy prices and you think about, used to cost me $30, now it's 60, heating bills will be up 50 - 55%, although that eat away the consumer and we need to see how much can businesses trim the fat and keep consumer spending and keep those earnings going. jackie: i don't want to be too negative but i used to work on wall street and i was looking at

the income statements and i would see managing companies shifting things around you can forward a cut in a move in apace, there will be a certain point where these higher input costs are going to be prohibited, i certainly think for companies that offer consumers with respect to how much they are spending with pent-up demand but at some point the scales will tip. >> the one secret the secret weapon that i call shadow inflation and if companies using little techniques, smaller portions of food, less service when you go to the hotel and they don't clean your room every day basically the consumer is not about paying more is about getting less service, what's happening in my mind is a degrading our cultural and societal norms, that could equal happiness in consumer optimism and stuff like that but that is a company secret weapon that is corporate america secret weapon. it hurts the consumer.

jackie: it smoke and mirrors to a certain extent, if you're reducing the size and not cleaning the room all seven days, when we have this conversation we often say inflation is attack. >> that is right, here's another fascinating term that you may hear more of, the quality adjustment, this has to do with inflation in the rays of inflation, 1990 of ford mustang, now it's about 27, 30 grand, the bls shows that flat, what they're saying they've gotten better and more features and there is worth more even though it's still a card that we need, the bottom line. jackie: it's all how you look at it. >> it's all how you look at it there is some things going on behind the scenes i'm a little bullish about inflation we have to watch out little gains that governments are putting on as

consumers. jackie: great to see you, thank you. a quick news alert southwest planning to put unvaccinated staff on unpaid leave starting in december is giving employees until november 24 to finish the vaccinations or apply for an exemption. we'll be right back. ♪

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♪. >> all right. a quick market check before we go. stocks extending early gains as earnings come in strong. s&p 500, nasdaq on the pace for the longest winning streak in two months. look there, the dow is up 176 points. as oil prices are higher by 1% as well. $83 a barrel, charles payne. what do you think of that? charles: jackie, 100 looking feasible. some people are talking about 200. i have an amazing guest whose family is in the oil business, and she is a market expert. buckle up is all i can say. thank you, my friend. i'm charles payne. this is "making money." the great october turn is beginning. we're seeing it widen out and sectors shifting to rally mode. despite louses housing data and money managers staying inflation is here to sta