personally it is the last place on earth i would want to be, but hey, i'm glad the city is doing it. stuart: we're not teenagers any longer. we can't do that kind of thing, that's a fact. ash, great today. thanks for being with us as always. we'll see you again tomorrow. the market, i'm seeing some green. the dow is up 186 and the nasdaq is up 92. that's it for me. neil, it is yours. neil: stuart, thank you very, very much. a lot of green. we'll spell it all out. talking of inflation is a big worry but has not gotten in the way of consumers and their buying plans. we'll explore all of that. an interesting stat i ran into, chances are a car pops up on a dealer's parking lot will be there no more than 10 days. that is how quickly they go. we'll getted read on all of this from mazda's north american ceo jeff guyton. we have andrew wang, a mercurial presidential candidate, created

a lot of waves in the presidential race. hopes to turn that for a successful run for mayor of new york. didn't work it. he is a send station in democratic party now seeking out alternatives to the democratic party. exactly what is andrew yang up to? i will ask him. "flip or flop" host, tareq mousa. what he is seeing going on in real estate. that is booming even in the face of everyone else saying by now it should be slowing. it is not. why is that? are we getting a little too frantic and frenetic at the same time? we'll explore that in the meantime. keeping track of other headlines we're following closely, including the inflationary threat very, very real but apparently not impacting consumer appetite to buy, buy. jackie deangelis with more on that. reporter: neil, great to see you. sales were up 1.7%. that is fantastic with inflation

and prices going up. the marcket is reflecting right now that the consumer is alive and well. people saved up money, yes. now they're buying goods maybe they didn't buy last year. that is part of it. the president will tell you that is driving the inflationary cycle we're seeing. it is not the whole story, right? we're at 30-year high inflation. some of the problem is supply chain crunch and fiscal stimulus and pandemic problems, like the labor shortage, we're still working our way out of that. i would say it's a chicken or egg kind of story. it is not one thing or the other. it is all of these things put together. right now not having a chilling effect on the consumer. 6.6% is the inflation number. it's a 30-year high. it could get worse before it gets better. that is one thing we're watching. the other thing is gas prices. that affects the consumers, affects companies and the supply chain as well. up 60% year on year. it was $2.13 for a gallon of

regular last year. we're talking about $3.41. if you fill up average tank, that is 14 1/2 gallons. that is 20 bucks extra and that you do few times each month, starts to put pressure. let's talk turkey. thanksgiving is coming up. it will cost a lot more. we're looking at turkey prices up 6.2% fresh. frozen, in case you buy frozen, 4.8% but what it really means the poultry prices are going up and you will see the turkey cost more on the five-year average scale twice as much as it did over the course of the last five years. the second thing the sides cost more too. look at these numbers. poe tate towings up 9.8%. lettuce up 20%. butternut squash, 14%. tomatoes are up 14%. this is stuff that goes on the fixings on the side. people are worried about the shortages, getting items in the grocery store. that is something else to think about. final thing i say, i will talk about real estate.

home depot, retail earnings are coming out. they have real strong numbers. people are spending money to renovate their homes, fix them up. that is happening. interesting with walmart the numbers were strong because of inflation in the local grocery stores. walmart can compete on a national scale. people are going there to get better prices. neil: i wonder whether if you're concerned about prices that continue to go up, whether you try to rush it. i will buy this stuff now because the price is only going up later. how much that is factoring into this activity? reporter: i think it probably is. i don't want to call it panic buying, i don't want to see panic. people say that i need that. i need it in a few weeks. i will take it now. they're doing that, stocking up in a way, which is probably a smart thing to do. what you need may not be on the shelf exactly when you need it that might be part of this, especially as we see the supply chain very tight. neil: yeah. it will remain that way for a while i guess. jackie deangelis, great seeing you again. reporter: yeah. neil: not even across the country either.

as jackie was talking about the notion of inflation is real. the fact that americans are absorbing the body blows of it is real too. but in some parts of the country it is more of a body blow than others. let's get the read from grady trimble in st. charles, missouri on that. hey, grady. reporter: neil in the st. louis area, they're getting harder hit than most anybody else in the country. in general the nationally the inflation rate is 6.2%. in the midwest it is up 7%. same with some states in the south. you name the item they're probably paying quite a bit more than they did a year ago. here is one example. fuel prices in this area up about 58% from a year ago. compare that to the national increase of about 49, almost 50%. the same goes for food especially at restaurants. that has just skyrocketed in the st. louis area. it is up about 11 1/2% from a year ago, compared to the

national average us why up 5.3%. substantial increase but not comparatively when you look at places like st. louis and other parts of the midwest. we're here on main street in st. charles, the folks we are talking to, they are noticing the higher prices and they are frustrated by it. listen. >> when i go to the store now i'm paying more for hamburger, things like that, things that i paid for before, yeah, i am paying a lot more. >> i think everybody knows that the east and west coasts are not in touch with reality and what the bulk of america is experiencing. reporter: and if you look at wage growth, that's another concern because it is only gone up about 3% from a year ago in the st. louis metro area compared to about 5% nationally. so not only are they paying higher prices than they did a year ago but the wages are not increasing at the same rate as they are across the rest of the country which is a recipe for

many struggling americans that they're expecting to struggle even more as we head into the holidays. unfortunately that's the story here in the heartland, neil. neil: amazing. grady, thank you very, very much but stepping way back and be looking at national retailers from home depot, you've certainly following amazon, following what is going on with walmart right now, all reporting boffo sales. a lot of people still buying like crazy here. again it could be the idea of front-loading all of this before prices go still higher but the consumer is alive and well. the read from dan geltrude and we have heath that herzog with us. what do you make of the consumer of all of this? inflation stops when we stop paying those higher prices and apparently as a nation we're not doing that. >> you know, neil, i think it is something we talked about in the past called frugal fatigue and something we experienced the last year-and-a-half when people weren't really going out and

spending. they were very concerned about their jobs. i think there is a little bit of that aftermath of people wanting to go out to shop. we have the flush of cash because of the stimulus package we saw over the last year but also consumers are still very concerned about supply chain. oracle was reporting that 77% of consumers are thinking about supply chain but i also want to point out for small businesses, talking about americans, americans who are concerned it is really small businesses. as we were sitting here i was getting some statistics from meta. they were saying that 17% of americans, small businesses, 50% of those, that number make their revenue in the last three months of the year. so this is a crucial time for them, regardless of what inflation is happening. these small businesses in towns and i really should say states like indiana, south carolina, and virginia, this is where they make the bulk of their money. this is very concerning for those small businesses. neil: what is kind of interesting, dan, when you look

for example, at walmart's quarterly earnings report, comp sales are up 9.2% in the quarter over the year ago quarter when prices mr. arguably up a lot in that three month period versus the last three-month period yet spending is also going up. traffic at the store up 5.7%. spending per visit up more than 3 1/2%. there is a pattern to this that you also see in the home depot and other numbers coming out where whatever the pressures, maybe it is the extent of the balance sheet improvement that consumers saw under and through the pandemic, but it is remarkable that it continues. that they're absorbing these higher prices, what do you think? >> well, i think, neil, that consumers and rightly so, in an inflationary period are saying, let's buy as much as what we can right now because tomorrow and the next day, the prices are

going to go up. now we are already know that many people benefited financially from the pandemic because you have over 10 million job openings right now. people don't seem to be in that great of a rush to get back to work. so they have money to spend. and with everyone talking about inflation, and supply chain issues, people are going to want to go out to get while they can. now the stores are obviously doing well, assuming they can get product on the shelves. when you talk about a company like walmart, who said you know what? all these hold ups at the ports, we'll get our ownerships, our own cargo, figure this out ourselves as opposed to rely on others to get product on the shelf. obviously it is working because they are selling more and more product at higher prices. neil: you know, when you talk about the consumer, you follow

shoppers for a living and the one thing that always amazes me is that they're pretty good at pivoting when they have to, in other words, finding a cheaper cut of meat when one type is going up double digits or even going into stores and finding maybe a store brand over a marquee brand. how long do you think that can continue? >> stores know to dan's point the shopper, especially when it comes to fixed items they have to have in the refrigerators, their shelves, they will pay whatever they need to pay. despite the prices are going up, i think one other aspect too is, the fact that the supply chain is causing people to go out and you know, i don't want to say panic buy either but really, they're anticipating those items not being on the shelves. i think i've been on here talking about the fact that you know, as we get closer to the holidays some of those items that you want to give to people

are probably not going to be available. i think that has something to do with it. there is just, it is a hyperloop of people fearful that they're not going to get their items and the prices are going up. because that fear supersedes the prices going up, people are just going to buy anyway. neil: dan, obviously the markets like this. they don't necessarily flip over the inflation part but markets are kind of like the fed i think these days. convinced it is no longer transitory. it is not a huge issue. we're not panicking about it. are you? >> markets are not panicking and neither am i at this point, neil and i will tell you why. if you look directionally where joe biden will go as far as the federal reserve and the appointment potentially of a new chairman, whoever that is probably going to be even more dovish than jerome powell which is great news for the markets. so inflation is not going to be an issue.

as a matter of fact, it may bode very, very well with a steady increase of inflation as long as it doesn't trigger the fed to react with a raise of interest rates. companies will actually make more money and the investors, with less options of where to put their money, will continue to be drawn into the market. neil: all right. final word. dan, good seeing you. hitha, same here. if you want a sense where markets are going, depends on eye of the beholder. for example, goldman sachs is optimistic we'll see another strong year for the markets. morgan stanley says not so. the u.s. markets are not the place to be next year. maybe japan, europe, are. split reads from some of the smartest people on the planet who cannot agree where we're going. there you go. more after this. ♪.

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♪. neil: all right, we're still in the midst of a showdown but at least it slowed a little bit here. the two leaders of the world's most powerful countries chatting during a virtual summit, what they're calling it. how did it all go, what are the messages, jacqui heinrich the day after at the white house.

reporter: neil, good afternoon to you. well president biden often boasts he spent more time with xi xinping than any other world leader but the white house often tries to put down any sort of perception that he has gone too easy on his chinese counterpart because of their friendly relationship but now after these comments yesterday some critics are wondering if president xi was trolling biden with this. >> get something straight. we know each other well. we're not old friends. >> he does not consider him an old friend. that remains consistent. >> not as good as a face-to-face meeting. i'm very happy to see my old friend. reporter: 3 1/2 hour call covered more than a dozen major topics but there were no breakthroughs expected annan to report we're told. president biden raised concerns about human rights abuses, unfair trade and economic practices and fair opa second quarter. with respect to taiwan president biden expressed strong opposition to the change of status quo of taiwan self-governance but china's

readout of the meeting went a bit of a step further asserting quote, president biden reiterated in the meeting that the u.s. is committed to the one china policy and does not support taiwan independence. we asked the white house for more detail on that. there were also notable items that went undiscussed like the origins of the coronavirus pandemic, despite xi blocking a global investigation into the wuhan lab. there is no mention whether the u.s. will boycott the beijing winter olympics three months from now over human rights abuses despite reports that the u.s. is weighing a diplomatic boycott. >> this is more cooperative and naive approach to china and that really what concerns me as well as a fact we know as a matter of his own personal legacy, xi xinping wants to effectuate reunification of taiwan with the main land. they said they are willing to use force if necessary. i fear all of this is going to come to a head shortly after they get that massive propaganda win with the olympics in 2022.

reporter: so reporters have not yet had a chance to ask president biden any questions about his virtual summit. hopefully later today at his event in new hampshire for the infrastructure bill there might be an opportunity. neil? neil: jacqui heinrich, thank you very much. at the white house with the read on all of this former delta force commander. he doesn't brag about this, purple heart, all sorts of honors and awards, oh, man, the real deal. general, this back and forth with china, where is this going? because i don't think it is just me reading the provocative actions of china of late, down to you know exact replica models of our battleships and the threatening actions over taiwan, to say nothing of what they're doing on the business side, even going after some of their biggest players even if it hurts them. what the heck are they up to?

>> well, i think that china's agenda is, is very well-established and i think it has been articulated in many ways by the chinese themselves and that is, essentially global dominance diplomatically, economically, militarily and make no mistake, china is going after taiwan. now, unlike your previous commentator i don't think it will be right after the olympics because the next fall, the chinese communist party will have their five-year meeting. they will determine who is going to lead the country and what the policies are going to be in the country and nothing is going to happen at at least militarily nothing is going to happen with regards to taiwan prior to that but after that, particularly given that they see a very weakened administration here in the united states, i think that it is very likely that they

could make a military move on taiwan. neil: you know it could be a pre-move on taiwan, right? you could go after islands administered by the taiwanese. would we be obligated to help in the event that china pulled something like that against taiwan, not invading taiwan per se but just taking over these islands that taiwan effectively runs? >> yeah, that, depends whether you're looking for a moralistic answer, the answer from a treaty perspective is no. we have no obligation to come to their aid militarily other than to provide them with military equipment and material. that if you look at it from a moral perspective and the kind of ally they have been to us since world war ii you might come up with a different answer to that that yes, the united

states should step in help taiwan against the chinese. neil: you know, general, i want to pick your brain on this because you're a great student of military history. it is often said the cuban missile crisis during the kennedy situation was born of his debacle with the bay of pigs. that was not necessarily all on him. he was following a plan hatched in the ice hen hour -- eisenhower administration, but be that as it may it encouraged the soviet union to do what it did to calculate the response of jfk. could the collapse of afghanistan be prompting this provocative, you know, series of moves by the chinese to say nothing of the russians? the last time i checked had 100,000 troops just off the ukraine? >> there is no question, neil, that the chinese, the russians, the iranians and even the north koreans see us as being much

weaker than we were under the leadership of donald trump. they never knew exactly where trump was going to come down on anything and i think what they have seen as in terms of how we left afghanistan, and the fact that we not only did not take care of our allies by notifying them what we were going to do, and we left them in the lurch but we also left people behind that we were pledged to bring out, many of whom were american citizens. i think that shows weak leadership in the united states. i think it shows not only weak domestic leadership but i think it shows weak international leadership as well. and i think as a result of that china is emboldened. we've said that before on your program. i think china is emboldened, as well as our other adversary rids and our allies are quite frankly very skeptical of what we would be willing to do in the future in terms of our alliances that we have with them, the

relationships we have with them and so forth. so i think china is emboldened by what see as a weakened administration. neil: general, while i have you here, i don't want to hit you with a surprise question, we see jonathan karl's final days of the trump administration, in it he talks about concern those around president trump at the time were very concerned not only the january 6th insurrection but maybe exploring a way to do turn over his authority. that steve mnuchin, the treasury secretary, mike pompeo the secretary of state had talked about invoking the 25th amendment, concerned about this, that he could do the country harm. we don't know the veracity of that report by the way. i think both men have denied that but was there, to your knowledge a concern during that time and do you think it would be justified at that time that the president was going too far?

that he looked like a loose cannon? >> yeah. i have only heard bits and pieces of what you're talking about, neil, and based on the fact i have not read it, i don't know enough about it i'm going to for the first time decline to give you a direct answer on that. neil: all right. i only rent it again, general, other authors explored this what the atmosphere was like at the white house. i guess we'll never know. there are concerns when a president is deemed to go too far, the 25th amendment thing, whether this president, the other president, that is meant with the president is deemed to be incapacitated, like woodrow wilson suffer as stroke, do you see that being utilized much? >> you know, i'm not aware of when it has been utilized and, look, i think it's a good amendment that would allow us to remove a president that was

incapacitated or quite frankly incapable. of course the other way to remove a president is through impeachment. i think it's a good amendment. the thing is i'm still wondering why nancy pelosi talked about the 25th amendment being tested for future presidents? she said this is not about donald trump. this is for future presidents. i'm still pondering what that was all about and was she prescient and seeing that maybe we might have a president that was impaired, cognitively impaired some way? i don't know but, that was an interesting set of circumstances there and some interesting vocabulary coming from her. neil: yeah. you wonder who she was talking to, who was she sort of telegraphing. you're right. a lot of unanswered questions duringthanksgiving. >> good to see you, thank you,

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♪. neil: well, people would love to shut up and drive if they could find a vehicle to drive. an interesting stat out of jd powers echoing what we heard before, cars don't really stay long on dealer parking lots. more than half are sold within 10 days. that's the problem here. very, very strong demand for automobiles. the fact of the matter, not enough automobiles, chip shortage and all the other

issues you heard a great deal about, supply chain disruptions. enter jeff guyton, mazda north america ceo with what is going on in mazda land. jeff, good to have you. in one way a good problem for the industries to have, but a big problem if you can't deliver cars cars folks want to, right? >> yes, absolutely great to hersh. yes you mentioned turnover on dealer lots. we've seen a dramatic increase in inventory velocity and have only a few days supply and i think that is something which is affecting the entire industry. in mazda's case there is not only a constriction of demand but also a whole lot of accolades from ihs and other consumer magazines which are propelling mazda on the scene as well. neil: so what do your customers do? a lot of times they look at the lot, what is available on the

lot. used to sort of preorder cars exactly to their specifications. now it seems the wiser choice for a good many of them, buy what you see on the lot. it might not be exactly what you want but it is the only car you will be able to get? >> well i think, i think the, what i see is a moving feast really in the supply chain world, whether it is related to covid because a lot of countries where components are sourced are still having a bad pandemic and people can't go to work because they're under lockdown or other things. so there's a, a covid element. there is a widely publicized chip element. there is obviously a transportation element and logistics issues. so, it is quite difficult to build and deliver cars to dealers today. neil: jeff, where are you on this whole electric vehicle push? we've already seen between lucid

and rivian, and obviously elon musk what he is doing at tesla, volvo, some others in their case going for a full electric line in the next couple years, where are you on this? >> so in mazda's case we'll be introducing 13 electrified vehicles between now and 2025 and, when we look at the market today, what we see is about 95% or maybe even more of sales in the u.s. are going to be more conventionally powered. if we look to europe, what we see is sort of a concerted effort between government and business and energy providers to basket incentives together which have driven a much greater and quicker adoption of electric vehicles in the marketplace and of course we have a lot of that discussion going on in the u.s. right now although the structure of those incentives really is

directed towards country of origin or maybe labor affiliation in the plant which we think is probably not the best solution for dealing with the climate issues that we're faced with and also increasing the maximum amount of electric vehicle adoption in the u.s. neil: real quickly, i always think this push, i have nothing against electric cars. i just think that put all your eggs in that wasket, maybe have an entire line of electric vehicles, and going away from traditionally-powered cars might be a bit premature. what do you think? >> well indeed you know, the electric vehicle, if you, if you don't have a sustainable power grid that is charging them -- neil: right, exactly. >> we're kind of fooling ourselves to move the tail pipe from the car to the power plant. so we need, we need a joined up program in that respect and that is one reason in mazda's case

we've been pursuing what we call a multisolution approach. so yes we have electric, we have plug-in hybrid, we have a rot at thatry powered electric vehicle coming and number of fuel efficient offerings right now. neil: all right. we'll watch it closely, jeff guyton, the mazda in order american president and ceo on the back and forth over the hot new electric vehicles but not at the expense of traditional gas-powered vehicles. at least not yet. when we come back the president and his vice president are apparently a little bit tense with each other. all sorts of people are reading body language and the rest of that. howie kurtz is looking at something else with the fixation over these images. he is next. ♪.

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find new peace of mind. find new roads. chevrolet. ♪. neil: interesting story in today's "washington post" as i'm sure you're aware, secretary, whatever good is becoming of your rising star it happens at a time when the vice president kamala harris is fading, quoting here, many democrats see harris and buttigieg's political fortunes as diverging in the first 10 months of the biden presidency. while buttigieg has become a visible advocate for the administration's top legislative achievement, harris often has been associated with its biggest troubled areas. in other words, she is in trouble, you're not. what do you make of that? >> i think that is just totally wrong. look, the vice president is coming off of a very successful diplomatic mission overseas. she has been one of the leading figures in making sure that this pies of infrastructure got passed. i can tell you in this

administration being given tough assignments is a sign of respect and confidence. neil: all right. so for pete buttigieg, the transportation second much ado about nothing concerning riffs within the administration between the president and the vice president, those outside of the vice president's office who are not too keen about her staff and the staff apparently feels mutual. hard to know what is going on, the fact he keeps coming up is bearing watching. howie kurtz, host of "media buzz," 11:00 a.m. eastern time on fox news, kind enough to join us. howie, what do you make of this new parlor talk about a very unpopular vice president and now a fractured relationship with her boss? >> well, it is all about 2024 and it is true, pete buttigieg is on tv virtually every day far more than president biden. kamala harris not so much. there has been negative coverage of the vice president for months now but what really struck a nerve at the white house was the a cnn piece the other day, neil,

saying the white house was fed up with her entrenched dysfunction and lack of focus but at the same time saying that the vp and her people feel they have been sidelined by the biden white house. suddenly, ron klain, jen psaki, other type of officials flooding twitwer positive messages, she is a bold leader, adjectives of that type, trying to push back against the press. neil: i'm wondering is there truth behind a lot of the bluster here? is there a case of the president or his people blaming the vice president for a lot of what ails him in the low poll numbers that bedevil the administration? >> that could well be true. by any conceivable standard kamala harris had a rough debut year and has 28% approval in a new "usa today poll." she is stuck with some of the no-win assignments like the border crisis. she has the same problem every vp has because you're in a box because you're a constituency of

one. at the same time we have to point out she gets extra scrutiny because she is the first woman, the first black woman to serve in that job and, it is a very difficult position but i don't think that explains all of it. i think there is a lot of tension inside of that white house. due to the usual anonymous sources things are starting to spill into public view which doesn't help either of them. neil: i'm just wondering, these kind of things go away when poll numbers go up, depending on the administration here and i'm just wondering what you made, a lot of people were making, i'm surprised the number of reports on just the body language yesterday at the signing of the infrastructure measure on the south lawn of the white house about you know, president and vice president going in there arm in arm. then the frosty reception afterwards. are people overanalyzing this or is there something to this? some in the media report it, others don't.

>> hey, we overanalyze everything. that is part of the franchise especially on slower news days. neil: right. >> when do you see kamala harris? you either see her on diplomatic missions that don't make a lot of news. you don't see her being allowed by the white house to do interviews, many interviews i should say on her own. you see her standing silently by sometimes wearing a mask while the president speaks. she has not had a chance to create her political persona when she was picked by joe biden the heir apparent. the reaction of the left to the cnn story, has been a pretty well reported story has been my view playing race car of the gender card. one best-selling author it was racist, misogynist story. a former democratic congressional candidate she is being attacked because a black women in high office. there might be a little bit of stance of that in public opinion

but the idea that you can't criticize her for anything, that doesn't fly. we're in the big leagues. neil: so used to a president speaking with his vice president but you and i can remember a time when that wasn't the case. i mean many, many years ago, when presidents routinely switched partners as i think in the case of fdr, going through a number of vice presidents ending up with harry truman who got the job when the president passed away. >> right. neil: that is alien to us today. we don't see that happening. i don't know what the nation would be prepared for that. i don't know whether they would be pointing race fingers or not if that were to happen? >> look the question among political insiders and media geniuses right now whether kamala harris will be on the biden ticket in 2024, whether if at 82 joe biden decides not to run whether she would be the nominee. she would have plenty of competition. people ran before like pete buttigieg gets amazing good amount of press in the wakes of

infrastructure bill which he will have a major role implementing. she wants to obviously carve out her own political per sown no but not do anything as furthering her own agenda. that is quick way to lois lerner from the president's confidence. you know that, joe biden had same dilemma eight years under barack obama. neil: tough job being number two. howie kurtz, "mediabuzz" host. catch minimum this weekend. thank you, my friend, very much. a couple other things we're following very closely, is bitcoin. it is not just a full, wide, cryptocurrency selloff. it seems to be concentrated in bitcoin in and out of the 60,000-dollar a coin level. why isn't it carrying over throughout the whole sphere though? we're on that after this.

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widows and orphans are not the asset class. neil: right, right. >> betting money you can't afford to lose in a especially volatile asset like bitcoin. either they -- ether ththat's bn down five out of last six session. the treasury yield, means there is a stronger dollar. when you have that happens, more guaranteed money on government bonds, that means money has to come out of somewhere in order to chase the guaranteed money. have that coming out of the cryptocurrency markets. i would say it is probably a risk-off environment right now because it is momentum driven, right, in cryptocurrency. when there is high inflation, i guess there is some cloudiness in terms of where the federal reserve might go, in terms of removing stimulus or raising interest rates, that is why money is coming out of cryptocurrency right now. there is this opaqueness when it comes to reporting during that infrastructure bill or in that infrastructure bill. neil: right. >> what exactly is a broker because a miner right now is

considered a broker but if you're mining a bitcoin, you slice that up by 1000 ways but yet you are responsible for the 1000 people reporting to irs it's a problem. neil: that is a mess. better part of valor, sell, ask questions later. susan li, thank you very much. we keep telling but the comeback in the economy here because even with the higher prices we've seen, a testament to the fact that the economy is strong enough so far to with stand that we have vivid seats ceo. benefiting from a lot of people wanting to go to concerts to see big events. he provides means to do that. stan, what is going on here? you're a low-priced alternative in a secondary market people can find value. again, entainment venues are all the rage. concerts are back in fashion, then some, what do you see going on? >> yeah, hey, thank you for having me today. neil: thank you. >> yeah i think, we look at the environment like you said, i

think with, i think the world starting to open up a little. i think the diligence of a lot of venue operators to make sure there is a safe environment with negative covid testing or vaccine requirements. we've seen the fans come roaring back, right? for us in the third quarter last year, record quarter. i mean this year, record quarter for us with $713 million of gov, with $700 million of adjusted ebitda. a great year at vivid seats. neil: they ask you the question, how is vivid seats different from telecharge, just explain that? >> look, i love talking about this because i think we've worked hard to make sure we developed a really differentiated product. when you come to vivid seats, first you should know you're shopping with someone named best customer service in ticketing for three years with 100% buyer guarranty we stand by even through the pandemic. beyond that we have vivid seats

rewards. one of out inly loyalty programs out there we reward fans with 10% in value with every single ticket that we purchase. we have additional perks for fans, perks with draftkings as surprise and delight program. neil: you don't gouge people. there is always that. sometimes the others push it little too far. you still see a strong 2022 as well, right? >> yeah, i think we're still early. i think we're looking at 2022. i think the economy looks like it is coming back strong. neil: fingers crossed. stan chia, vivid seats ceo. strong economy, however you want to describe it. which is exactly why we're seeing a lot more buying today. even with the higher prices people are saying people are paying them. the question for how long. more after this.

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neil: that million dollars today you could buy about a second of government spending i'm exaggerating but making the point that we're spending a lot of money in a lot of different programs, the administration is still waiting for an official score on this bigger spending package, that follows the infrastructure package, from the congressional budget office, and a lot of doubting congressmen and the democratic party are waiting for that, once they get that,

they'll commit presumably to either voting for this or not voting for this there's no wiggle room. it's where we stand on this whole thing. we're going to explore that and what seems to be a fractured democratic party between progressives and moderates, republicans have their own issues between those loyal to the former president and those wishing he would just go away. we've got andrew yang joining us the former presidential candidate, simply has the audacity to say there is another way, he's here. in the meantime to edward lawrence, the president for the time being will be going up to new hampshire to push that infrastructure only package, new hampshire is an interesting stop , why there first off, edward? reporter: yeah, you know, that was the question that was posed to the white house press secretary jen psaki and the president is on his way to woodstock, new hampshire. he's there because there are bridges there and he's going to stand at a bridge in fact 215 bridges in that state are listed in poor condition.

now, president biden trying to take ownership now of the bipartisan infrastructure bill, and highlight its benefits to raise his approval ratings. >> going there because there is a broken down bridge that needs to be repaired, and he is, it's an opportunity to highlight how this infrastructure bill can help communities help people who are taking their kids to school, help people holding their breath as they go across bridges worrying about the safety and security of how they are traveling to do exactly that. reporter: still, a recent abc news washington post poll shows 59% of americans are concerned the president will do too much to increase the size and role of the u.s. government. 55% of people disapprove of how the presidents handling the economy, while 39% approve. now, by selling this bipartisan infrastructure bill, people in the white house here believe that he can convince americans to spend more, republicans say no way, because the social infrastructure bill doesn't add

up. >> so it just proves the democrats are pulling number s out of their hind end to try to make it stick to say somehow this budget balances but it doesn't balance. it's a huge tax increase that will increase inflation and not going to do anything but make our economy worse. reporter: still at every stop the president makes he pushes both bills also the social spending bill and he's in michigan tomorrow at a ford electric vehicle plant. the administration also is going to blitz local and national tv a ds, as well as spanish language tv stations and online digital ads, to try and show the benefits of the bipartisan infrastructure bill. back to you, neil. neil: edward at the white house thank you my friend very very much now the battle for this latest spending package is simply between democrats, republicans want no part of it so very unlikely they get a single vote in the house or the senate from the republican side so right now, the race to beat the clock and get something together is between modern democrats and progressives, where that stands right now with

chad pergram on capitol hill. hey, chad. reporter: good afternoon, neil. well the plan is to vote this week in the house, moderate s are holding out for an evaluation of the bill from the congressional budget office. >> we want to have the confidence that the bill is the reality is in fact reality. they do need a cbo score. >> do you expect a certain debate on the bill earlier like before the cbo? >> i hope to debate the bill on wednesday. reporter: the lawyer says the house won't vote until thursday at the earliest, the latest, the cbo score could come is friday. one senior leadership source tells fox to expect a repeat of a week ago friday, that's when the house approved the infrastructure bill, just before midnight, and that came after weeks of dithering. republicans say the house should not move until the bill is vet ted. >> the american people deserve an honest, transparent debate

about its true cost and content, yet here we are and not one member of this house can honestly say they have analyzed, studied, or reviewed it. reporter: the bill likely changes in the senate, there's worry about the economy. >> first of all, a big chunk of what i've been involved involved in for example, holding down the cost of prescription medicine, when you're holding down cost, that helps to tamp inflation pressures. reporter: democrats need as much revenue as possible to make sure the bill does not add to the deficit. the non-partisan tax policy center says nearly one-third of all middle class households would pay more in taxes under this plan. the president said they would not. neil? neil: chad thank you very very much in the meantime there's other stuff to do including dealing with the supply chain disruptions we hear so much about.

they can't come up with at least a central way to deal with this. hillary vaughn has the latest on all that from capitol hill. hillary? reporter: hi, neil. well president biden signing that infrastructure bill into law yesterday means that a lot of cash is being injected into clean and green energy products, and so house lawmakers are trying to figure out how to work the kinks consumers are experiencing in the supply chain so that they can meet this inflated demand for these products. >> truly energy independent, we should focus on building out the domestic supply chains for technologies that take advantage of fuel sources that aren't reliant on volatile global price fluctuations. reporter: biden setting aside billions to go to clean energy infrastructure like battery charging stations, but clean energy product producers are warning lawmakers today those billions in taxpayer cash

could be going overseas, and not staying here in the u.s. if we don't have the infrastructure to actually support the clean energy transition that biden envisioned, but manufacturing workers are also worried they're going to be left behind, the international vice president of the united steelworkers told lawmakers today their workers have been promised a green job for decades but so far, no one has delivered. >> american manufacturing workers have a great deal of skepticism about what this will mean for their jobs, for them, and for their communities. that skepticism is well-founded. our union has been having the green jobs conversation with our members for almost 20 years now, and for many of them, that promise has not been realized. reporter: and neil, while the focus of today's hearing has been on green and clean energy issues with the supply chain, there will be a hearing tomorrow in the house, looking at the labor shortage problems that are

contributing to the supply chain bottlenecks that a lot of consumers are being impacted by. neil? neil: hillary vaughn thank you very much. you might have noticed a pattern to these three reports a division within each party, particularly now, since democrat s have the complete run of the show in washington, for the time being, amongst themselves and how to move forward, it was an issue i brought up with transportation secretary pete buttigieg yesterday. take a look. do you think this , i'm sorry, secretary, do you think this friction between progressives and moderates gets a lot of play in the media? >> yeah, look i'm not saying it isn't real. we're not a command and control kind of party, right? we have a lot of different opinions, we're proud of that and when that creates challenges , we lean into them because we think that makes us better off. neil: he's optimistic that these differences could be put aside but my next guest has his doubts andrew yang was a fascinating presidential candidate 2020 among the most fascinating i never had a chance to talk to because he spoke outside the dot s and he united a lot of republicans and democrats with

ideas that didn't stick with labels but the problem in this environment is we tend to stick with labels, andrew yang joins us right now, the former presidential candidate in 2020, that is an enormous amount of buzz, ran for new york mayor, didn't win, but he quit the race when it was looking like he wouldn't rather than drag things out, delighted to have him right now, andrew good to have you. >> neil great to be here thanks for having me. neil: what do you make of we've always had bickering within parties, i don't want to overstate it but it seems like they're apart within each party and i'm just wondering within the democratic party, did you quit on it or did it quit on you? >> [laughter] well there are a couple things going on that americans, first polarization between the parties is at record highs, and it's driving political stress and anxiety, making americans feel like our fellow countrymen aren't even like on the same page or in the same nation, and then within each

party, you have a couple of factions that, in my view, ought to comprise separate parties instead of trying to have them under the same tent, where if you had a genuine multi-party system in america, and my view there be five parties, progressive democrats, moderate democrats, a group of centrists, moderate republicans and conservative republicans and i'll suggest that system would work better. neil: more like a parliamentary system where parties have to form alliances, of course i'm going too far there, but is the problem the two party system as we know it is just getting a little long in the teeth? >> it really is and if you go way back, neil, to our founding fathers, they never would have wanted a two-party system. john adams said two parties be a great evil. george washington was anti- partisan for good reason. the two-party system is an invention that now has run its course, but we haven't been able to move on from it, even though we can see that it is not

working and has not been working for quite sometime. neil: but you know i was thinking when you were coming our inflection points where it's deemed the two-party system fails and a new party emerges, abraham lincoln what became known as the republican party but it's rare. why is it so rare? >> it's rare because the duopo ly suppresses competition. if you're an independent, right now independents out number the republicans or democrats. let's say you're a libertarian. if you try and contest a particular race, you find yourself shut out. there are these primaries that control the process where it disenfranchises literally millions of americans, 10% of americans are deciding 83% of races which means the other 90% are on the outside looking in. neil: you had the trouble of not being a well-financed candidate so you took on like people were really intrigued by you, but the

system, the money candidate tends, not all the time, but i'd say like 99% of the time to have the engine an iuorio and new hampshire and before you know it , it was a little different for joe biden where he got his about together, i think in south carolina, but is it the structure of the primary system that does it, or is it just the way its evolved? >> the primary system does advantage certain candidates and in the democratic party you can tell that there's a bit of a thumb on the scale being applied from folks in d.c. very often. the republican party is actually a little bit more open, where whoever wins the most votes ends up in washington but you saw it with the way that the dnc sand bagged bernie in both of the last cycles they were like let's try and have the right candidate win. neil: but bernie might be getting the advantage, right? what you hear against biden is he campaigned as a moderate but progressives are calling shots and bernie sanders is leading

the parade. do you agree with that? >> again in my view the democratic party should probably be two separate parties at this point and you can see the tensions within them and you can say well, trying to get them in the same tent might facilitate them working together , and in my view the real problem is there are a number of moderate republicans who would support aspects of, for example, the infrastructure package, but because of political pressures, there's such a fisher that if they crossover then they wind up getting criticized by trump, even though historically, the republican party has been for rebuilding bridges and roads neil: yeah, in fact i remember distinctly president trump wanting -- >> wanted to rebuild bridges and roads. neil: wanted to go big and now he's criticizing that it was a third o of that but be that as it may he might run again, looks like he is, and he might win, what do you think of that? >> i think that trump is probably going to be the republican nominee, and i think that joe biden is probably

going to be the democratic nominee and i'm going to suggest that a lot of americans might want something a little bit different, that this might not be a movie you wanted the sequal to. i mean, it's pretty similar to the first movie at least from the beginning. neil: but why don't third party candidates i remember you and i chatting during the break, there were a lot of people who watched you and marveled you in debates and very skillful, and said you know, i'd vote for him, but, you know? is it a wasted vote, does he have a chance? i always thought people who actually thought that voted that way, just as when we had third party candidates in presidential races, remember john anderson in 1980 i guess it was, i like him but he doesn't have a chance, or whether you like or dislike, i like him but he doesn't have a chance, ralph nader, like him, he doesn't have a chance that more and more people thought that that person was on equal footing it be different.

>> it's one reason i appreciate you so much, neil because a lot of that happens in the media, and i think the most prominent recent example is ross perot in 1992, and the way we make this happen, in real life, right now in the united states of america is shift to non-partisan open primaries so that anyone can run for any position you could vote for anyone you want, and have a process that gets rid of this spoiler effect where right now, the kudule that gets used is if you vote for this person it screws it up for this person. neil: exactly. >> so that's an archaic voting system. if you shift to something more modern, like for example,, you can vote for whomever you want, lead with the libertarian and then put the republicans second and no one can accuse the libertarian of messing anything up. all it takes is a modernization of the voting system which is what my party the forward party is now championing. this is a movement to enable independents to have a seat at the table. neil: and to get everyone in. you know, to get everyone into the process. >> yes, and the great thing,

neil, is that even if the same people win, their incentives to be better if you had non-party san open primaries because right now the fact is you'll answer to the 10% of the most partisan voters that control whether you get re-elected. you're not actually delivering for 51% of the population, it's just a 10%. as a business person, those are bad incentives like you want incentives where it's like look if i make 51% of you happy then i come back. neil: you never complained about it when you were running, but i've always thought our country was open to an african american president, our country was open to a female vice president. asian american thing? not so much. do you think that was an impediment? >> what's interesting, neil, is i spent years campaigning in iowa, ohio, new hampshire, other parts of the country and i never felt the least bit unwell come as a result of who i am being

asian american, to the extent that i think that there was like some kind of different treatment , it was in the media, truly. neil: exactly right. you're exactly right. americans are much more open about this sort of thing than the traditional media is. on the left or the right. >> yes, i had thousands of interactions with americans and they were very very open to my campaign, they were open to a different form of leadership and they saw in me a fairly regular person who wanted to do right for them and their families to the extent there was a fixation on race that ended up being an impediment to my campaign it was more likely to come from certain elements of the national media. neil: did that bother you though and that kind of view escalated after you think about it covid, it's hard to say in this day and age that continues but it did, but to your point, in the media. >> one of the interesting things, neil, is that when you're out in the arena, you

don't want to complain about the referees or what not. [laughter] neil: i'd never take the blame. >> no, so, you know, i was always just trying to make my case directly to the american people and i was grateful for the fact that people were open to it, really, and i saw that everywhere i went. neil: and i think that most of the americans, that is the case. what about your future, obviously successful entrepreneur, a lot of the ideas you hatched are coming to reality in this measure by the way. you must take some pride in that whether people like it or not, right? >> yeah, i do take a lot of pride in the fact that the ideas that animated my campaign are now very very mainstream and america this is what we need to mainstream now, open primaries so that different people can vote in every single race. we get that right, then all of a sudden -- neil: how would that be if you

have a primary night and democrats and republicans and everyone can vote, everyone can do that. how is that, how does each party then, or is it each party, deciding on it's nominee? how would that go? >> i'll use new york as an example. new york is a one-party town. so if you're an in or republican you're shut out, because the democratic primary happens without you and then by the time it gets to the general it's already, you know, a done deal, so if you had open primar ies in the new york mayoral race, for example, then independents and republicans could vote for that candidate and then even if i didn't agree with you i'd have to hear you out, your point of view would get incorporated. neil: you'd be in that bunch as well as a curtis lee, where everyone is in the mix and everyone would have a chance to state his or her case. >> yeah, and it would boost turnout, because i guarantee and i met them a lot of independents and republicans are checked out because they are like hey i don't have a meaningful say and do you know what?

they're right. if you look around the country, 83% of these races are being decided in the party primary and it's one reason why so many of us are so cynical about politics because we know our votes don't matter so you make that change all of a sudden the incentives of our leaders would improve overnight. neil: president biden didn't have a role for you in his administration, seemed like almost all of the other candidates got something out of it. >> i ended up running for the mayor of new york city. neil: i heard. >> and now, i'm incredibly excited about this forward party movement that we're building because this is -- neil: you going to run again? >> i'm going to do whatever i can to help the country, neil. right now, i am convinced that the best way i can help is by trying to free us from the tyranny of his duopoly that we can see is crumbling around us but it can't get out of the way in time. neil: well put, andrew yang, former new york city candidate, presidential candidate wanted to

get past your blinders wherever you are politically and just think about thinking outside the box. we need a hell of a lot more of that in this country, stay with us. what's strong with me? what's strong with me? what's strong with me? what's strong with me? what's strong with me? me? with me!

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neil: you know what if it's not jerome powell? by the end of the week, we're told, possibly the president will announce his pick for the federal reserve and let's say it's not jerome powell , then what? what's going to happen? kenny pulcari joins us the slate seen wealth market strategist. kenny how do the markets react to it not being jerome powell? >> listen, i think, i think the markets are actually okay with the idea that it may not be , because they've done a good job of kind of jaw boning it, putting it out there, having this conversation, talking about how doveish she is in terms of policy. neil: you're talking about fed governor, the alternative choice >> right, the alternative choice, and i think that the market views her being more doveish as a positive thing for the market, although, you know, i, for one, think it's probably a wrong decision to kick the captain at this point in the voyage. i really would like to see jay powell stay there but the choice is clearly not mine.

i don't necessarily think that the markets will completely panic over brainard at all. i think there will be a honeymoon period where they will wait and see how she's going to present herself, but i think the market views her as more doveish anyway, and that means she's going to be, you know, less likely, i think, to raise rates although i don't know how either one of them is less likely because i think inflation is going to become a real problem as we go into 2022 and somebody is going to have, somebody will have to make a really hard decision and i think that decision is going to come sooner rather than later. neil: you might want to run the other way, kenny because i agree with that and i've been worried about it and one of the things you always hear about the fed falling behind the curve , but if you think about it, we had 12 straight months where we've been running double the 2% inflation rate that was the fed standard. >> the target. neil: yeah, so that can't go on much longer without them having to do something.

what do you think? >> well they've been, for the first six months they told us it was transitory nothing to worry about. now notice how that whole narrative is beginning to change and here is what i think will happen. i think if jay powell is re nominated and the one that stays in that position then i think in the new year, jay powell's narrative is going to change very quickly because now he's in if he's renominated he's in. and the narrative will say look, this is out of control, we need to do something and we need to get out in front of it versus behind it and we may see , you know, you may see a jump in rates at a half a point versus quarter of a point and i don't think the market is paying enough attention to that possibility, and i think that's what's going to cause the turbulence in the first six months of next year. neil: do you like the market as things stand right now? >> [laughter] listen, i always like the market right because number one to jump ship, but am i concerned, yes,

and so am i now moreover weight defensive and boring name, utilities and consumer staples and more big american industrial s absolutely. i'm not chasing the high-tech, i still own it i'm not selling it but also not chasing it because i am worried that if we hit that turbulence those big names are the first ones, use them like an atm machine and they get wacked, right? but the big old u.s. boring names, build, build, pullback but not nearly as hurt as some of the higher fliers so while i'm still bullish on the country and bullish on the economy, i'm not, you know, blind to the fact that i think there is going to be some turbulence ahead and you have to be prepared for it. neil: got it all right kenny great catching up with you, kenny pulcari, well you probably heard that zillow is out of the home-flipping business but do you not think there is a market to be made and had in the home flipping arena? who would know that better than the flip or flop host, real

estate investor extraordinaire, terek el moussa, he's here, after this. >> ♪ free falling ♪ at vanguard, you're more than just an investor, you're an owner with access to financial advice, tools and a personalized plan that helps you build a future for those you love. vanguard. become an owner. everyone remembers the moment they heard, “you have cancer.” how their world stopped... and when they found a way to face it. for some, this is where their keytruda story begins. keytruda — a breakthrough immunotherapy that may treat certain cancers. one of those cancers is advanced melanoma,

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neil: all right, certainly home builder confidence dense is at all times highs right now, juxtaposed against zillow abandoning the home flipping business which was news to my next guest because he kind of invented this flip-or -flop if you will which is the name of his show all the rage, where you have to decide, you know, do i flip this property, what do i do , how is the real estate market going this guy was on it before anyone was, terek el

moussa, is the flip or flop host with us right now. how does real estate look these days? >> real estate is extremely fast-paced and exciting right now and mostly due to the lack of supply and the huge amount of demand we have. neil: it's amazing right? now you'd think its gotten a little bubbly, a lot of people interpreted that when zillow abandoned that business or the house flipping business for one of the better terms, some were saying this is the first sign the bubble is bursting. >> well when i think about house flipping i think about investors and they are there to make money. when i think about zillow i don't see them as investors. they were just buying houses and paying way too much, an example is i'd compete against them on a house and they would offer 15-20 % more than i could ever offer and they were paying way too much for houses and if you can't make money what do you do with those houses? neil: these are the same people who value houses so if they are getting that wrong it's a whole other rabbit hole. >> the zillow estimate was really hard to go off because

you could have two very similar homes one is brand new and one is falling over. if you average it you have an estimate but it's not a true estimate. neil: so how do you decide on the show, was curious, you know, which way to go, and how, what you flip, what you move on from, how do you decide that? how does the show structure that >> well, flip or flop, flipping my own houses flipping 101 which is my new show, season two is on the air how, i'm mentoring rookie flippers, so i don't get to meet the rookie flippers until the first day of the project. so once the project starts that's when we go to work. neil: and who picks out the rookie flippers? >> that be the production company, they go through a cast ing process and find the best people to work with. neil: if you're going to flip you got to improve it enough that when you flip it you're going to make some money. do you know ahead of time the people who you're talking to are up to that task? >> not until i have the conversation with them and

typically within the first 20 or 30 minutes of meeting the rookie flipper, i kind of have an idea of how the projects going to go. neil: so what do they tend to screw up or what lessons could we learn from this because i always think what you bring up on the show, whether you're into that or not, is a real estate 101 lesson. >> yeah, simple. you make money when you buy meaning you have to buy the house at the right price. number two, speed is everything. every second of everyday you hold that house there's a cost to it so the faster you finish the project the faster you go-to-market and the faster you get your profit so it's all about speed and leverage. neil: people are worried that they were frantic buyers today in hot markets like in palm beach and some of these other areas, i got to put in a bid fast even though i overpay, i know it'll appreciate so i'll do it. what do you think of that thinking? >> you know, people are doing it and here is the thing. even myself, we recently bought a house and we're bidding against other people too and it

comes to the fact that if you're wrong and the market goes up 20% really it was a good buy, so i don't see anything slowing down the real estate market. at least within the next six to 12 months so i do believe we'll be in a strong market. neil: i always felt i don't know you personally, but just watching, your gut is pretty good. you seem to know let's not go too too far here but how do you know that especially if you're in a very hot market? how do you know? >> so i try to simplify real estate and i teach a lot of people how to flip houses online , and it all comes down to evaluating the properties, right understanding the market, because real estate is nothing more than a simple economic equation of supply and demand. the more supply, more homes for sale, less demand, prices are going to drop, right? less supply which is right now, not many homes for sale because of eviction moratoriums and foreclosures and then with low

interest rate we have high demand is prices go up so it's just really supply and demand. neil: you're bidding up prices not markets like new york which stood dead a year ago and now is back with a vengence, i mentioned hotspots in the country, do you think it's going too far? >> here's what i think. before any market transitions toward a down cycle all the signs appear. the prices don't drop overnight it normally starts over a few month process meaning the day i start seeing supply of housing rising, and the amount of transactions lowering that's when i know the market is going to change so you just have to track how many homes are for sale and how many homes are selling. neil: this isn't quite what your show is about but so many people are paying cash and they want to be intriguing to sellers and easy if you're paying cash, you're more of a draw to the seller. do you see that continuing? >> the cash buyers, yeah, i do. there's so many people interested in real estate and so many people making a lot of money right now and it's a fun

and exciting business so i see more and more people entering real estate everyday. neil: who are your viewers? >> pretty much, you know, well my viewership is really broad. i travel around the world with my new wife heather el moussa, and people recognize us from all over the world, so it's all the way from, you know, grandparents to even like 10- year-old kids are big fans of our show so it's across-the-board. neil: more women than men? >> the demographic of my show is mostly upscale female viewers and i'm sure their husband rsv there watching too. neil: the husband's pretend they aren't interested but they are watching. >> they try. neil: it's fascinating stuff but terek el moussa flip or flop just has a good gut read on this industry, built a practice, and i think he doesn't say it, but knowing people, you have a good idea what motivates them so real estate, we're okay? >> yeah, i think everything

seems great. neil: very good. we have a lot more coming up including people not only buying real estate but for today, stock s, after this. (rhythmic electro rock music) (crowd cheering) - bito, bito, bito, bito! - [announcer] bito, the first u.s. bitcoin-linked etf. there's a different way to treat hiv. it's once-monthly injectable cabenuva. cabenuva is the only once-a-month, complete hiv treatment for adults who are undetectable. cabenuva helps keep me undetectable. it's two injections, given by a healthcare provider once a month. hiv pills aren't on my mind. i love being able to pick up and go. don't receive cabenuva if you're allergic to its ingredients or taking certain medicines, which may interact with cabenuva. serious side effects include allergic reactions post-injection reactions,

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(judith) in this market, you'll find fisher investments is with once-a-month cabenuva, i'm good to go. different than other money managers. (other money manager) different how? don't you just ride the wave? (judith) no - we actively manage client portfolios based on our forward-looking views of the market. (other money manager) but you still sell investments that generate high commissions, right? (judith) no, we don't sell commission products. we're a fiduciary,

obligated to act in our client's best interest. (other money manager) so when do you make more money? only when your clients make more money? (judith) yep, we do better when our clients do better. at fisher investments we're clearly different. neil: all right, bitcoin and some of the other cryptocurrenc ies not all, by the way, are taking on the chin today but don't cry for those who got this in the beginning of the year, you're still up double-digits here, but let's go to charlie gasparino, because politics could come into play here, in the not too distant future. charlie: you didn't mention this neil: you kind of have that paris thing going on there. charlie: i thought you were going to say homelessness. neil: well there's that too, but you look good. you look good what's going on here? charlie: how many pumpkin spice lattes have you drank today? neil: not enough. charlie: did that come with the covid? neil: so what's going on here

with this? charlie: here's the thing, neil, the republicans don't control congress right now. they don't control the president , they don't control anything. if the republicans do get congress you'll see a push for some sort of crypto regulator as opposed to the mish mash of regulation we have right now. the cftc has some say particularly if the crypto is not a security that's deemed by the sec to be a security. there's a huge court fight between ripple, one of the companies that has been sued by the sec, saying they issued illegal xrp as a security, and ripple says no, it's not. it's a cryptocurrency that does not come under sec regulations, so there's this huge confusion going on in the u.s. , and people worried about it stifeling innovation, and pat toomey the senator from pennsylvania who is term limited -- neil: he's not running but he has one more year left. charlie: could he be technically in the majority in 2022? neil: could be that's a big

thing. charlie: if republicans get the majority in 2022 particularly in the senate with the house i think you'll see a real movement to do some sort of crypto regulation, that says, here's a new regulator, let's have a time out on enforcement actions that a lot of people believe is crippling the crypto industry, and let's try, let's start, the conversations going to go, take it away from the cftc, the sec, and kind of create one regulator to look over this stuff and maybe grandfather in some of the companies like ripple. pat toomey is raising those issues, other republicans are as well. now, why do they care so much about crypto? listen i don't think they are going to bad for dogecoin. what is it called? neil: dogecoin. charlie: what they are worried about is in the innovation. do you believe the blockchain and those type of decentralized technologies, is that the next internet? i think it could be.

toomey thinks it could be. neil: bottom line if you're an investor in this , you might rule a republican takeover, more than a democrat? charlie: no. neil: because the republicans would have more order? charlie: that doesn't mean cryptos won't go down. you start raising interest rates , all bets are off but the innovation of the blockchain is the important thing. i think that's -- neil: they might do this in a more measured way. charlie: don't put ripple out of business. neil: okay. charlie gasparino, getting up-to-date on another fascinating development, reese's sold out of these 3.4-pound peanut butter cup pies in one hour 57 minutes but apparently, gasparino cornered the market. charlie: i saw them in your office. neil: yes, exactly. party for the staff. we'll have more after this.

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>> ♪ neil: okay, when they say they are getting in shape for the

holidays and all of that , because the proof is reese 's selling out of the 3.4 pound peanut butter cup pies, don't ask, within less than two hours, online, with little publicity, sold them all out. but three and a half pounds of chocolate and peanut butter i have to leave right now and see if i can scarf up one of these in the meantime got my buddy lydia hu and brett larson. people spent a lot of money to get their hands-on that and i'm just saying that's a sign, a that you have money to burn on things that aren't crucial, but it's also a sign that people are hungry. what's going on, what do you make of this because you're both fitness freaks i think so what's going on? >> i don't know. don't label me with that i'm not sure i'm guilty of that but it's all about the taste test. you've gotta make sure the chocolate-to-peanut butter ratio is on point with that. neil: crucial. very true. absolutely crucial. >> if that's just a little bit

off the whole pie isn't worth it so i'm still out, but i think you're right, neil. people want a special treat during this holiday season, they are getting back with people that they like, we think, and you know, they need something to eat that's tasty. neil: and we'll pay for it. i get it's supposed to be each thanksgiving is the most expense ever, just given the time but this particularly right now is a $ 392 apparently to host thanksgiving this year, but we're weyilingngng withit it eopl peo t m nkhi we' w gotwo two righs towhave a lve af weoho w o ince thihis hi yrear we w wtillo n the p tan c. e seenumbe ts airs sayg tar t iyes higher therhan witas was 20101nd and t ofuse t, peopl pplepl aing okine thathaturke prices have go ne up, t oerer inedientsie wie n wieeed od t table, tcesave

are a wilng tong po po for i fi becauss usoing t b harnk tsgivg thagtast yearyeay h somet of frozen dinner or something you had delivered or just made for yourself and your significant other who was right there with you. neil: yeah, you know, turkey is a less expensive meat anyway, so it's still less expensive, but people aren't holding back, and this applies to what you see with inflation, lidia, think about people are paying these higher prices i don't know for how long but the last retreat is from food. you're not going to pivot entirely to leave that with the higher prices, so are you? >> right, no, i mean i don't think you really can. i think there are going to be a couple of consumer habits we're really going to see and there are some pockets of people that look for the deal. they are going to scale down maybe look for a less expensive alternative, i think that some of what we saw with the walmart earnings that came out today. they did really well in their grocery sales, and they are known for having a good deal for being good value for your dollar, so i think they are see

ing wins there so some people maybe are looking to spend a little bit lesson food, but other people, you know, i've been spending time reporting in grocery stores, and they tell me they just want a good thanksgiving meal. neil: we always have you in a grocery store in like a healthy section. >> [laughter] neil: if i was there they would have me by like the candy or the prime rib section, but you are always healthy but is there anything where you guys cut back on stuff in this environment? >> no, no. neil: food wise? >> not particularly, well if i'm going to eat it, no sense in not paying for it. i'm sure we'll also see a huge spike in liquor prices, or liquor spending, especially heading towards thanksgiving and the holidays, if more and more people are going to start to get together because that is ultimately the best safety net for any thanksgiving party. neil: just in case. >> escaping into the kitchen. neil: what about you, do you look at well i've got to juggle something here. i did change something usually when i have family over like i am this year i'll make the

turkey or the entre, but i'll cater the side dishes because i want to enjoy my time too with my family and this year i looked at the catering prices and they were expensive. neil: they are but they save you a lot of time and work. >> but i just had to balance out what i wanted and i'll make more of my side dishes actually because of the price, so yeah. i am changing that. neil: wow. >> i'm also going to bet when we were talking about this in the green room, i'm curious to see what new traditions start this year, because someone says, oh, i couldn't get sweet potato es so i made the reese's pie. neil: if you can't find that peanut butter cup pie try the m usketeer one. they have one out. we'll have more after this. . .

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neil: all right. the dow ahead by 206 points. so good day. here is a guy who makes every day a good day, charles payne to take you through the next hour. charles: neil, thanks a lot. i hope to make this a little better. we call it the cp effect. my friend. neil: buddy, do it. charles: i'm charles payne. this is "making money." spending like there is no tomorrow. americans come through again. the question, how much did we dip into savings? how much was to bet in front of the supply change with people worried about shortages? how much money can you make oaf the cash flying around?