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tv   Cavuto Coast to Coast  FOX Business  December 7, 2021 12:00pm-2:00pm EST

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monarchy. the relationship between prince harry and prince charles is as frosty as it ever been. stuart: one thing you should not insult your grandmother, queen of england, much loved throughout her reign, 70 years. just don't do that, son. don't do it. ashley thanks for all the hard work when i was out. >> my pleasure. stuart: time is up for me. neil, it is yours. neil: you have to let go of this royalty thing. i know you're an american citizen now. let bygones be bygones, let them do what they do. stuart: no. neil: italy doesn't have a royal family but you don't see me grouping about it. we'll see what happens. stuart, welcome back. corner of wall and broad, we're racing ahead, up 535 points on the dow. a lot has to do with calming jitters. i say calming jitters. jitters could come back tomorrow over omicron whether it will be
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a big worry. what we know about it, it rapidly spreads. what we also know about it, coming from the pfizer ceo, it doesn't rapidly spread in a bad way. a lot of people get it but have relatively mild symptoms with it. that is giving the market some assurances right now. for example, the 10-year treasury note, fetching around 1.45%, getting a lot more attention today, unless we got a omicron surprise here, is what is going to trans pose between the leaders of the united states of america and russia. having this conference right now which they are sort of comparing notes. we're told the president of the united states is moving quickly to punish russia if it ever even contemplates invading ukraine. 100,000 russian soldiers at the border right now. let's first get to that story. what might come of this talk. jacqui heinrich has more from the white house. hey, jackie. reporter: neil, brand new information at the top. we heard from the white house the president will have a call
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after his call with putin with president macron of france, chancellor merkel of germany and italy and uk will be on the call. that is brand new. we hear jake sullivan will be in the briefing today. we expect to get information. >> the white house about a bloomberg report, they have not confirmed the report but they said they will talk about it in the briefing and bloomberg is reporting that the u.s. will pressure germany to stop nord stream 2 if putin moves forward with invading ukraine. that is brand new information in the last hour. russia invited stayed media with the call with biden and putin. they put out video. the white house did not allow any american access. the russians put out the video, in it you can hear president biden telling putin i hope next time we can meet in person. >> there you go.
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hello? [laughter]. good to see you again. i unfortunate -- last time, we didn't get to see one another at the g20. i hope next time we meet we do it in person. reporter: kremlin released picture of this call, with biden in a pose appears to be waving. stakes are high for this call. putin wants biden to commit that ukraine will not be allowed into the nato military alliance. biden will threaten severe economic sanctions including one russians see economic warfare. cutting them off from the swift system to enable all financial transaction shuns. western allies considered the move in 2014 when russia invaded crimea but ultimately backed off and did not use that. this time we're told it is on the table only as a last resort. >> we've consulted significantly with our allies and believe we
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have a path forward that would impose significant severe harm on the russian economy. you can call that a threat, you can call that a fact, you can call that preparation. whatever you want to call it. reporter: administration signaled to russia that there was an off-ramp not to proceed with force. multiple officials within the administration they weren't yet sure if putin was going to move forward to invade ukraine. touting space for diplomacy and leadership to work. there are calls for biden to project strength from the white house. no talks of sending troops or legal that aid. biden wrote in the memoir when he was vice president, ukraine, russia invaded crimea back in 2014, biden wrote that he asked obama to send lethal aid multiple times to ukraine and obama repeatedly rejected the idea. now biden may find himself as president in a similar position but of course they have spoken at length about first going the diplomacy route and they're
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talking about the sanctions today. neil? neil: thank you for that, jackie. jackie went back in history to explain what happened during the obama years. the russians invaded crimea, took over crimea. now it looks like they're shooting for the rest of the country. hal lambert joins us point bridge capital founder and ceo. see how the market digesting. jared levy, delancey strategies, jared, begin with you, end with you. the market focusing on relatively good news on omicron spreading like wildfire but not dangerously so. how does this sort out do you think? >> omicron leading the bulls right now, right? the talks between putin and biden i think are, let's wait and see what happens. the swift cutoff would really be the only way that they could, allies could sort of take control here and put russia in a position if they did move the 90,000 troops they have gotten
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amassed at the ukrainian border back that is the only way they can do it. remember if they do some economic sanctions, want to prevent them from converting rubles to u.s. dollars and other currencies, i hope biden got the memo, there is cryptocurrency market they can dance around, at least not on a large scale but are ways around that, cutting off from the swim system would actually be a death blow if you will. markets want to see what happens with this they will be curious to get other european countries stances on this as well, with the tone, what is our next step? as it stands right now to me i don't like the fact you have nearly 100,000 troops sitting there at the border. we know what he did in 2014. he is also the kind of guy that will say one thing and do another. we need to see a hard sanction. it's a wait and see right now but the markets are rallying because of omicron. that is the, that is the big green today. neil: you're right about that, but, hal, the market could be surprised if this escalates into
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something or russians were to invade ukraine even under the threat of sanctions or shutting down entirely the nord stream 2 pipeline. having said that, though, do you expect that to happen? >> actually, i don't, i don't expect russia to invade ukraine right now. i think, but putin is going to have to be able to save face in some way. so he is going to have to walk away from these talks with something. i don't know what that something is going to be but he has got to have something or he will look weak to his own country. biden had calls yesterday with the other european leaders of the uk, germany, and france. so they have obviously talked about what their plan is for this call today. i think the number one way to, you know, put economic damage on russia is to get oil prices lower. i mean oil prices. oil is 60% of their exports, 30% of their gdp. if we don't cancel pipelines here. we open up drilling here.
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we can get oil back down to where it was. with a 50% drop in oil that would really economically hurt russia. that is the way we ought to be operating instead of threatening the nord stream 2 pipeline shutting that down, talk about opening pipelines here, getting oil down here, at the same time helping americans because inflation in oil prices is driving a lot of inflation we're seeing across the board in this country that would be a win for us, and also hurt russia at the same time. neil: i notice oil is sprinting ahead today, looking at it, jared, they have it to the low to mid 60s. it could be a comeback from those levels here. a lot of that built on improving world economy. maybe omni cron is going to be a big we are that people thought. that the parity would continue that would be to vladmir putin's advantage, would it no two-wayst
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and unfortunately right now it is both a demand issue and supply. like hal said, we could easily put rigs back online, get producers back online. what they are scared of, is again, putting the money in getting this back online, having restrictive policy from president biden and his administration, prices come back in, it is a whole complex ordeal. i do agree, again i think the key here is what hal said if biden could get off the green deal a little bit, somehow say all right, let's give a break to americans right now, i'm all for renewables but we need a path to get there. if the path to get there to keep economic sustainability, low oil prices, like $8 a gallon in california right now. keeping that down. that hurts putin. i think that is the solution. i really do. i think hal said it. neil: hal, real quickly, china is watching this all very
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closely, what do you think they're thinking? >> oh, they're watching it very closely. they're thinking of other ways, quite frankly, neil to expand their influence globally and to take advantage of any weakness that they see here. so that is what they're doing. they're looking around the globe, going where can we be, looks like they will open up a base out of the atlantic for the first time ever. that is what china is doing. they're watching this extremely closely. they will gauge what happens here what they want to do with taiwan. there are global risks here. omicron doesn't appear to be one of them. no way to stop the spread of that. they're reporting out of europe half the people are asymptomatic and the other half have very mild symptoms. so if half the people are asymptomatic, that virus will spread everywhere. that might be a positive, get more people with herd immunity from a variant not very harsh. neil: that is what they're hoping for. we'll watch it closely. hal, i want to thank you.
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jared, i want to thank you. we were talking about our response whatever it will be to what the russians are doing, whether they respond to the threat of still more sanctions. we have not gotten any clarity from the european union or western friends including australia, britain, canada, japan, netherlands, all are saying news out of russia, troops on the border are reasons for concern and disturbing. so far no action. claudia rosett joins us, independent women's forum policy fellow. claudia, seems to me if we take a move on sanctions we might be going it alone. what do you make of that? >> we might be going it alone and it probably won't get us where we want to go in any event. this is a much bigger problem than that, neil, and russia has a long and versatile history at getting around sanctions. we have sanctions on russia, it didn't stop, russia still has crimea, now we're seeing this today. that is not a solution.
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i'm not -- neil: do you think putin will two something here? he knows obviously that if oil is used as a lever, it might hurt him but oil also then would go up in that event. it has been going up today. so he would, you know, have an advantage there still being able to trade to other countries even if it is not the united states? >> neil, your previous guest had a very good point. what we need to do is open up oil production in america again. that would hurt putin and help america. neil: we're not going to do that, are we? >> well if we don't president biden and his team are taking this country in a truly dangerous direction. what putin, putin already got something out of this, even if he doesn't invade ukraine in the next few weeks he has got the president of the united states making this fraught phone call to him and it doesn't look like president biden is in command here. he is waving around swift
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sanctions, maybe kind of, putin is basically begging him please don't do this, please don't do this. and we need to reverse that. i wish president biden had opened up by for instance, saying to vladmir putin, you know we're not actually your enemy. your real problem is your dear buddy china where you know that your problem is, they're looking at your sparsely populated russian far east with all those resources with short of 1.4 billion people in china. they're licking their chops. right now you're useful for them. that is what the white house should put in the current debate, anything because part of what is going on with putin is a one-two with china, china is making threats in asia, putin is making threats in europe and america is sitting there, less and less able frankly to fight a two-front war if this really gets bad. and we need to be doing
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something about that. we also need to stop saying, the white house keeps repeating at every level we, we're not seeking conflict, we're not seeking conflict. well russia takes that as an invitation to push the united states to try for everything and putin right now is looking for what he can get out of any of these talks and at the very least, he is getting very good chance to rehearse the invasion of ukraine. he already did that earlier this year. that is the very bad trajectory here, neil. neil: that is wild. you're right about that. time is actually on his side the way things are going right now. claudia, thank you very, very much. we'll explore the other side of this equation a little later in the show. china and our threat of diplomatic boycotts here. not attending, any high-ranking american officials, the china winter games next february. so far we're the only country that has taken that position. i told you about the position of getting tough with russia.
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>> i think there should be a little bit of flexibility for smaller companies to make sure they don't get hung out to dry. >> do not vaccinate your children if you don't want to. do what is your children. he is not the parent. he is not a doctor. >> if we're going to be mandated to have the vaccine i think our freedom is being suppressed. neil: all right. a lot of new yorkers apoplectic at the sudden move by mayor bill de blasio, with only three weeks left in his term beforehanding the baton over to eric adams to institute a private worker mandate you must be vaccinated down to kids as young as five years old. madison alworth is following reaction right now in staten island, new york. madison. reporter: hey, neil. yeah, this mandate has been announced by mayor de blasio is one of the most aggressive
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mandates we've seen across the u.s. the businesses i've spoken to, a lot of them say they were blindsided by this. right now they have more questions than answers because here's the thing, we know about the mandate but implementation and enforcement, details around that, neil, they will not be announced till december 15th. let's look what we do know about the vaccine mandate. first those key to nyc businesses, restaurants, entainment spaces, gyms for those bases you need two doses of the vaccine if you're 12 and up. for kid five to 11, this is also new. they will need at least one shot of the vaccine. finally that business piece, every single employee in new york city will need to be vaccinated by december 27th. so on that day, if you are not vaccinated, you are barred from working in new york city. that is huge for businesses here. shane is a business owner. we're at moraki hair around beauty salon. we learned about this yesterday.
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as a business owner, were you given any heads up about it? right now what is your biggest concern when it comes to this mandate? >> no, we weren't given any heads up. we heard about it you did in terms of a rushed press release that basically said everybody needs to be vaccinated by the 27th. we're in the midst of the holidays. we're still recovering from the pandemic. we have section of our staff that is fully vaccinated but we also have a percentage that is not. for me basically come to work to tell the individuals they don't have a job come january 1 is a very difficult thing to do. at this particular stage we don't know what level of enforcement there will be, what level of fines there will be, these are the considerations we have to make, unfortunately doing so in a short party is not enough time to make that happen. reporter: you mentioned the vast majority are vaccinated a couple are not in this salon. for those vaccinated if they are forced to leave because of that mandate, what will it mean for
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your business? >> it will have a significant impact. we have a very technically skilled workforce. not like we can swap out one person with another. the guests that come to our salon are act can you us tommed accustomed to a particular experience that experience is performed by that technician. if that technician is not here we may lose the guest potentially and affect revenue, affects the city writ large. that is one business but unfortunate. reporter: one business but a sign of the landscape. thanks so much, shane. neil, the hard thing with this is the timeline. this is happening at the end of mayor bill de blasio's term. this goes into effect at the end of december. five days later adams comes into office and he has still yet to say whether or not he supports the mandate and plans to enforce it. there are a lot of questions out there for business owners in new york city, neil. neil: this is incredible. madison, thank you very much. i want to go to a guy that has
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to deal with this, on top of other headaches. he is owner after very popular cafe on the east side. very good drinks. i don't want to get the impression i drink but they have phenomenal drinks. try the vermouth. good to have you back, tyler. what do you make of this, it would take effect with days left in the year and days left in mayor de blasio's administration? it just seems weird. >> yeah, absolutely. thanks so much, neil, for having me on the show. i have said from the beginning the mayor has put the hospitality industry in a very, very awkward position between him and the unvaccinated people and i've said from the beginning that the mayor needs to be compensating the bars and restaurants for being his vaccine police. all we are threatened with are fines and violations. all we want to do is serve
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outstanding food and drinks. neil: did you have to deal with that, pay a fine because some worker didn't check his vaccination status? sometimes they have spies going restaurant to restaurant to check things out? >> yeah, exactly. neil, not exaggerating here, we get into altercation every night, especially customers foreign people don't speak the language, who are not familiar what is going on, have something to eat and drink and leave. nobody wants to be bothered with the mandates and protocols. we've created outstanding sidewalk seating heated chalets, dining cabanas, allow you to dine inside yet outside on the sidewalk. neil: you know ironically as you know better than anyone, someone who is in the line of fire for this sort of stuff, it is no longer an issue in the new york city metropolitan area. covid cases are not only down but few and far between in terms of their severity. so the timing of this raises questions. what do you make of that? >> honestly, let's be clear
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about one thing, mainty%, 90% of people in new york city are vaccinated. we have all time low cases. everyone in new york city is a very responsible person and all i can say is that this is the mayor's playing politics with small business. the man went on national tv like five days before he is about to leave office to put in place mandates that no one agrees with. the only thing he forgot, everyone hates bill de blasio in new york city. neil: i was wondering if the incoming mayor eric adams, would sustain this policy, doesn't look like he would, that would be a death knell for you. not necessarily going out of business but certainly challenging your business, right. >> absolutely. like 1000 percent, january, february and march are the worst months in new york city. they are the worst months for business. everyone doesn't go outside because it is too cold. financially speaking they are a
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real hurdle. to put all of this on top of everything that is already been happening does not bode well for the industry. neil: how are you doing now through the holiday season and everything else? it has been cold so some of those drinks and new york apple cider is very popular. >> absolutely. neil: how do you weather it? >> we're very lucky to have a very loving community. the neighborhood and the community that regulars that support festival, since we opened in the middle of the pandemic, viewers who watch your show, who support us, wee very lucky to be busy. we are busy this month. we are hopeful that this is going to transition into january and february but we need as much help as we can possibly get, let alone the whole labor supply shortage issue that all these bars and restaurants are dealing with. this does not help things in the least. neil: how are you doing on the labor part there? >> it's a challenge. luckily we have a talented, small workforce here.
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our staff from the chefs to the mixologists, to the back of house are wonderful, wonderful people and we treat everyone really great here. however it is impossible to get new, qualified people because everyone has left the hospitality industry and people who used to live in new york city are leaving by the droves. so it's a challenge, it's a huge, huge hurdle and a big challenge. neil: all right. what i recommend, since you, it is a great establishment, get your customers in there, get them one of your famous drinks. they might be oblivious to the fact they're waiting a little longer but man, they're happy. i would just assume that is a strategy to pursue. but, tyler, hang in there. always good having you. >> thanks very much, neil. neil: he needs this like a hole in the head. why do we keep doing this to businesses that are just trying to do what they like to do? we target these guys. it always seems like we're targeting them. meanwhile targeting the very
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thing that feeds them? elon musk is railing against all these credits for electric vehicle owners and potential buyers but he is really targeting the latest legislative push behind that, that 2 trillion-dollar big spending bill, after this. ♪. i promise - as an independent advisor - to put the financial well-being of you and your family first. i promise to serve, not sell. i promise our relationship will be one of partnership and trust. i am a fiduciary, not just some of the time, but all of the time. charles schwab is proud to support the independent financial advisors who are passionately dedicated to helping people achieve their financial goals.
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because everyone deserves better. ♪. >> honestly i would just can this whole bill, don't pass it. that is my recommendation. >> what about, what about the support though for the charging, there are parts of this bill -- >> no. >> no? >> no. do we need support for gas stations? we don't. there is no need for support for
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charging network. neil: two big surprises from that announcement. one, the biggest purveyor of electric vehicles is not really keen on a tax credit to buy those electric vehicles, and second, you can be richest guy on the planet and still have a lousy haircut. >> i actually like the haircut. neil: do you really? lauren simonetti is with me. what do you make of all of that? lauren: okay so -- neil: not the hair. lauren: the haircut we like, i think he looks very spiffy? neil: really? lauren: i think his overall point, just government, be a referee, don't be a player. those were his words. there is a little bit of hypocrisy there though. he essentially said we don't need subsidies whether for charging stations, okay, government you don't give them to the gas stations either. neil: you liked them when they were starting.
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lauren: got so many subsidies from the state of nevada. china, cheap land. he was the first to start manufacturing in china without a local partner there he hasgotten a lot about it public's health, and you can name which public you want to choose there. to his credit, past two years, tesla amassed this market share by not having the federal tax credit, subsidy rather. neil: he is worsening the deficit and the debt but one thing i thought he was intriguing, why should there be different ages for these people that buy vehicles from union workers? you get a 12,500-dollar credit doing that, versus less if you're buying it from a non-union shop. his is a nonunion shop. i wonder that came into play? lauren: for two years, there was not a tax credit. build back better reinstates it,
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not gulf 12,500 but they get 7500 for that. he constantly be slammed by the biden administration, not inviting him, had all the see quote of the at the white house? neil: it was a big oversight. they were critical of him. that might have something to do with it. there is a back around forth what will be allowed, whether a union or non-union shop, if you're elon musk looking at all of this, he has a great deal of competition, the fact he is the originator. he is the best, all of that. it is a crowded field. but a rising tide will lift all of them. i wonder if that is the case. lauren: you think he believes that the rising tide? neil: that is what he says. lauren: i think there is a big push to go green but most corners, right? we're not all, i don't think the government prepared us for the cost of what it would entail to go green and we're seeing that whether we are talking about the winter heating bill or buying
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electric car with or without a subsidy. i think it comes at a cost. once you have, let's say these subsidies, bring the cost down, there would be consumer demand, yeah. a rising tide kind of does lift all boats. every automaker, even traditional ones are getting into evs. neil: chargers are not all the same, what works on one of these other models, does not work on a tesla, vice versa. lauren: why would you need the government? neil: i agree but he is partly looking at this can get off the ground but we have to agree on standards for the charging stations. lauren: therefore the government would be referee, right? agree on the standard. neil: don't take face value i'm saying. haircut still bothers me. lauren: the fact that he slams the government, if it were a business, operating on a $3 trillion loss, right? expenditures, $7 trillion. revenue coming in, 4 trillion. he says something has got to give. so a lot of what he says makes sense in this interview, in the
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elon musk way. neil: in the elon musk way. lauren: she did a good job. neil: she did at "the wall street journal" you have come down in my view her on a little bit championing the haircut. no offense. it just kind of jarred me. lauren: better than the handkerchief. didn't do dancing. neil: we're all good. we're all good. lauren, thank you very, very much. greg joins us right now, perfectly kcorifed hair. blockchain ceo and keep abreast of all the developments. grant, first question, what do you think of the elon musk haircut but more to the point what do you think is going on with cryptocurrencies, bitcoin, et.al. today? coming back but oh, man, a a shell lacking over last couple weeks. >> if you are worth $3 billion
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you can cut your hair the way you want. it has been a volatile market when you're looking at a new digital asset, anything around 10 yearsvery, very fast moving. it is trading 24/7. a day where it could drop off 20%, crypto investors have to be aware of that. they have to know that is something that comes with the territory. you have to look at it as a buying opportunity. you're getting a 20% discount on your purchase. you have to take that into effect. neil: pick your target, not everyone like a guy like you seeing great potential of this and fraction of the price right now, growing into other plays, the other plays, maybe they're cheaper alternatives that are getting more of the attention, today not withstanding? do you think the buying public is moving away from bitcoin, maybe, looking at some of these cheaper alternatives? >> well i think the retail investors are. if you're looking at the macro
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investors, they're obviously looking, they have more capital to spend. they're spending millions and millions if not billions of dollars. they're looking at bitcoin as digital gold. looking at ethereum, solana, absolutely, seeing retail investors looking into it. what is driving the cost is young investors people not used to the market. when you have brand new investors in the crypto space they will sell on news. things like regulation, things like, you know the omicron scare and things like that, quick retail investors will sell way quick because they're trying to make quick money and they're not looking at the long-term investment i always recommend they need to so is the smart money hanging on. guys like you who sees the potential or is some of that going as well? ray dalio, some of these others who have their concerns and their doubts who is really behind this volatility?
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>> yeah. what happened was there was over $1.8 billion of positions liquidated. they were longs. they were expecting the price to go higher. the difference between the stock market and crypto, crypto you're trading 24/7. so because of that there could be a lot more volatility, nothing to stop a "flash crash" or a fast increase. so it just, like i said, hold as long as you can, bet on the long term. look at the long trajectory on this thing and invest in the ones you trust. neil: do you think crypto investments go the other way from equity invests? or do you think that they can both continue to rise in tandem? >> i think they can both continue to rise. i think there is more volatility in the crypto side. you know? i think, right now, when you have all the federal spending and all this money the fed is pumping into the economy, it will be really hard to tell in an economy like this. but now, two or three years down the line, when some of that stuff, the fed starts easing
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federal spending things like that, we can start seeing things shift and not -- neil: all right. we apologize for that. grant of the blockchain ceo. mixed read on a lot of these cryptocurrencies and crypto plays, but a bit more stability than we've seen in the last few weeks, since it has dipped into bear market territory, which would be a decline of 20% or more from its highs. taking a look at all these smash-and-grab looting and the like, broad daylight, particularly in the los angeles area. now signs that things are changing out west and maybe across the country. my retirement plan with voya keeps me moving forward... even after paying for this. love you, sweetheart they guide me with achievable steps that give me confidence. this is my granddaughter...she's cute like her grandpa.
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shouting] neil: enough is enough with smash and grab in california, now. they're looking to take action because even politicians who endorsed some of the ideas that led to this are now saying we went too far. jonathan hunt in los angeles with more. jonathan? reporter: neil, los angeles has of course seen a rash of smash-and-grab robberies since the recent wave began in san francisco and moved south. high-end stores, malls, pharmacies, cannabis dispensaries targeted in recent weeks. law enforcement has responded, including arresting 14 suspected to be involved in the robberies who were then quickly released under a zero bail policy introduced at the beginning of the pandemic as a way to reduce l.a.'s overcrowded, therefore at risk prison population. police chiefs claim that policy, along with other justice reforms is at the root of the problem. >> we're catching the criminals
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and the problem we're catching them over and over again and they're being released very quickly without bail and they're not staying in prison. so we just continue to deal with the same, same people again and again. reporter: now the zero bail move was made before l.a. county district attorney george gas con took office but as the lead prosecutor, his critics want to see tougher action guns them. a group of activities are launching a second recall event against the d.a., having failed badly earlier this year. other attorneys are hitting back at gascon, progressive ones. >> it is systemic, george cast gone and chess today bowdin in san francisco, and all the woke district attorneys across the country, they're doubling down. reporter: george gascon's office refutes that and a spokesman
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tells us referring to the spate of recent robberies, quote, we will hold those responsible accountable. also we should point out, neil, robberies and burglaries are actually down this year compared to 2020 and 2019, although that obviously cold comfort for all the recent victims here. neil? neil: got it, jonathan hunt. thank you very much, my friend, jonathan in los angeles. by the way you probably heard the united states imposed a diplomat take boycott on china's winter olympics. no other friend of the united states or no other country period has joined us in that effort but the international olympic committee, this, we always ask for as much respect as possible and least possible interference from the political world, in their words saying we respect the u.s. decision on the beijing 2022 games. but that is all we're going to go say. we'll have more after this. ♪.
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♪. neil: all right. an owner has a major beef with joe biden's mask mandate, and a lot of institutions going after the agriculture department as a result. lindsey fox is the owner of the nocak meat in wisconsin, gourmet
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meat shop. her attorney is with us. welcome to you both. lindsey, maybe you could explain what this is about? >> thank you for having me, neil. i'm a fourth generation owner at norchek in wisconsin, i work along my cousin and uncle chad who are co-owners with a team of six individuals. our family business has been making award winning ham, bacon, sausage products since 1952 and we look forward to celebrate our 70th anniversary this upcoming year. in august the fda issued a notice that masks were be required to be worn by all employees when federal inspectors were present in federally inspected meat processing plant. our time at nolec-hek sided after the mask mandate ended in wisconsin, that masking was to be optional. out of respect for their
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decision and their desires, that was our policies. so our mark was withheld without any standing in regulatory and starter to law. it immediately affected our ability to process our meats, our products and sell wholesale which is approximately 20 to 25% of our business. neil: agriculture department can withhold usda rating on that meat, right? that kind of stymied you. "elle," can i ask you on the legal grounds here. if a mask ordnance goes away in a state or region and usda is insisting when we come to visit, workers have to wear masks, they don't have to wear them after the representative goes, that is weird? >> it is not just weird, neil, it is blatantly illegal. the government here is overreaching one more time with yet another illegal mandate. we're seeing this pattern across
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so many different federal agencies of just intruding into businesses like lindsey's, bullying these small and medium-sized businesses with overreaching mandates. this is one in a series. all the others have been suspended or struck down by courts in recent weeks. this one i think will fall as well. neil: we did reach out, lindsey, to the usda and other representatives of the administration to no avail. lindsey, did a representative or whoever comes from the agriculture department tell you at least we're here, you have to have the masks on, we're gone, we don't care what you do? >> that is the case. and that is what could happen however we as a business are also obligated to respect the decisions and the requests of our employees. without them we don't have anything -- neil: they didn't like it, right? they didn't like the ordinance? >> not that they didn't like it, they have the personal decision
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and autonomy based on their beliefs and their convict shuns. it is not our job to enforce or mandate that conduct. neil: where is this going quickly, dan? what is the next step? we're in federal court right now in madison, wisconsin. we're asking for expedited relief because we need to get usda back inside of its legal boundaries. we're hopeful a judge will rule in the coming weeks because this is just one more example, we're seeing all these other judges strike similar mandates you down. this. will: go down as well. neil: see it extended on the mask thing. that is wild. keep us posted, guys, lindsey, hang in there. daniel, thank you both very, very much. we'll keep you abreast what is happening at corner of wall and broad, a big buying spree having everything to do with omicron, so far so good on that front. it is spreading like wildfire but bad stuff is not. more after this. ♪.
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will be the fury of all hell with promises of more sanctions and tough economic actions that will make some of the actions we already have and the sanctions we already have against russia fade by comparison. but if that is threatening or stymying vladimir putin, so far few signs that that is the case. the president now having wrapped up his phone call or his chat with vladimir putin, will be sharing that phone call, the details with other european and western powers and leaders later on today. hillary vaughn on capitol hill with what went down. hillary. >> reporter: hey, neil. well, that zoom meeting between the two leaders was with about two hours, and the point of the meeting was to really get the point across to putin that there will be real costs if he does invade ukraine. but here on capitol hill democratic lawmakers that we've talked to are waiting to weigh
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in on whether or not that economic leverage is enough leverage to convince putin not to act. senator ron wyden, he sits on the intelligence committee, he told me he doesn't want to speak about anything until he gets debriefed about how putin received that and what was discussed on the call. but i talked to senator amy klobuchar who says she has real concerns about putin's activity on the ukrainian border. >> this is a major concern, of course, for the country of ukraine, but for all of the democracies on the border. if russia were to move in any way. we also, beyond what they're already doing -- which has not been legal with their occupation. secondly, continue just to be concerned about putin's actions. >> reporter: but there apparently is something new on the table. after months of biden defending
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his decision to green light russia's pipeline to europe, nord stream 2, he is now reportedly backtracking. the white house is expected to announce today they will ask germany to stop the nord stream 2 pipeline if russia invades ukraine. republicans on capitol hill tell me that this russian aggression that's playing out is all because president biden rolled over on the pipeline and is now looking for germany to bail us out. >> why do you think the white house is backtracking on a policy that they had defended for months? >> well, because president biden is obviously wrong. joe biden surrendered to putin, waived the sanctions that had worked, and that is why we're facing the prospect of a russian invasion on ukraine. it is because of biden's weakness. let me tell you how that phone call should go. biden should tell putin the nord stream 2 pipeline is dead, that he is going to impose the sanctions that congress has passed into law.
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>> reporter: president biden will also talk with leaders of germany, france, italy and the u.k. later today, and he's likely going to not only debrief these leaders on how his e zoom meeting went down today, but also explain to them why he lifted those sanctions on the pipeline but now is asking for germany to step in and put a stop to the pipeline that president biden essentially let go through. neil? neil: all right. hillary vaughn. to the former deputy undersecretary of defense right now, former delta force commander. general, what do you think vladimir putin is going to do? >> yeah, i tell you, i'm not sure. and this was such a critical call today. but we need to understand the russians really understand us. they study us, they understand us, they assess us, and they assess our leadership. and i will tell you that's one
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of the reasons that donald trump was reasonably effective with the russians, is that he was unpredictable. they could not figure him out. and i think that when you have a former secretary of defense, robert gates, say that our president, our current president has been wrong for the last 40 years on every major foreign policy and national security issue, i think that is, anticipates the kind of credibility -- indicates the kind of credibility that we have with vladimir putin right now. so i don't think that the sanctions are going to make him change his mind if he is determined to invade the ukraine. neil: you know, he's had these sanctions and a lot of the effect for it seems like years now, and it's not altered his pretty bellicose language and behavior. so even assuming you can shut down the nord stream 2 oil pipeline, i'm not sure that would move the needle for him
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either. but what happens next? >> well, what happens next is we've got to give serious consideration to what kind of military hardware are we going to give to the ukrainians. you know, we started out under obama giving them mres and blankets, and that's no joke. i mean, we literally were giving them mres and blankets. and then under trump we started to give them more lethal aid a. well, we've got to ratchet that up. look, remember that during the soviet union era, the ukraine was considered to be the second most powerful military next to russia. and we need to give them the hardware, the material, the lethal equipment that they need in order to be able to really make this a fight. now, could the russians eventually overrun them? yes, they could. but i'll tell you what is important. it's important that if they invade, that there be some large
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casualty numbers in the russian column. and that is because the russian people got tired of it in afghanistan, and they kept asking why are we getting our sons home in body bags, and that made a big difference. and i think that if he gets in there and gets bogged down -- he, being vladimir putin -- if he gets in there and gets bogged down against more force than he anticipated, it's going to be a very rough situation, and i think that he is going to be in trouble because the russians are not willing to accept a lot of casualties anymore. neil: yeah. we learned that from afghanistan in 1980. i am curious, though, general, what you make of some republicans' call to send u.s. troops to the region or not far from the region. what do you make of that? >> well, that's fine. i'm okay with that, but i don't think we should think for a moment that that is a necessarily prelude to us getting engaged militarily in
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the ukraine. it would -- i think that it would be more a show of force, and i think it would be more supporting our allies. you know, to is very vulnerable right now. ing. neil: right. >> poland is the country that we've really got to be watching right now because they feel insecure given that a not only the ukraine, but belarus are in question right now. i don't think sending military forces over there is a bad thing, but i don't think that we should assume it means we're going to go into the ukraine and get engaged in a shooting war. neil: you know, a lot of people say you need a face-saving way for putin to get out of this mess. if he's even seeking to get out of it. what would it be then? i mean, if he were to withdraw those 100,000 troops or even keep them there without invading, it would look, i guess, in the eyes of the russian people, maybe putin himself, that he blinked. so what is the way out of this
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short of an escalation in tension? >> yeah, you know, absolutely right. and i'm not -- that is not a question that i have a real good answer to because i think that putin has overplayed his own hand here. and, you know, the rests of europe -- this is not just an american issue. the rest of europe is concerned about this. and i've already talked about poland. so i think that putin is going to wind up with these people sitting in place for quite some time, and i don't know what else he has up his sleeve. we may see more cyber attacks. we may see other things coming out of russia. but i tell you what, i think he's unpredictable on this, and he may be sitting there this time next year with 175,000 troops. neil: do you think he's doing any of this in coordination with china or sharing this information and they're both playing off this? >> well, there's no question the chinese are watching this very, very closely. that's why this is such a
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critical period and this discussion today was so important. i'm sure that through his embassy in beijing that he is certainly advising the chinese as to what we're doing. i think that there's no question about it. i think he's letting them know, he's making them part of this in terms of the information flow. but you better believe the chinese are watching this, and this has long-term impact on, i think, our relations with the chinese because if we can't back him down now, if we can't get him to get rid of the notion of invading the ukraine, stand by, taiwan. you're next. and that's not a good thing. neil: got it. general, very good chatting with you, and thank you as well for your incredible service to this
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country. gerry boyken, former delta force commander. oil prices have been jumping of late. maybe not exactly pegged to these talks, it could be just a bounceback from multi, certainly multi-month lows we experienced last week, but let's go to phil flynn, what he makes of it all. phil, if it turns out that russia just goes ahead and invades the ukraine, all bets are off, right? >> you're absolutely right. i mean, if you look at the oil prices, you know, you look at the comeback in prices, participant of that is because we're not as concerned about the virus variant. but a big part of this is geopolitics. and, neil, you cannot separate national security and economic security and energy security. they're all tied into one. and one of the things that the oil traders are looking at is that there is some type of invasion, it's going to leave the entire european continent vulnerable when it comes to energy supplies. they made some major mistakes on
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the energy transition. they decided to become more dependent on russia for supplies, and if russia goes rogue and goes crazy and cuts them off, hay don't have a lot of alternatives -- they don't have a lot of alternatives. now, the biden administration coming back saying, hey, cancel this pipeline, that could cause a bigger problem for europe because russia could get upset and cut off supplies in the middle of winter, and that could leave them very vulnerable. so this is an extremely dangerous situation, you know, not just for the oil market, but for the world at large. neil: i'm just wondering how you see just the whole supply-demand thing working out if this just stays on the back burner, doesn't escalate. >> well, i think the market is telling you right now that the selloff that we saw last week was way overdone. they were basically pricing in another major shutdown of the global economy, and it's pretty clear that that's not going to happen. so we're seeing pretty much a crash-up like we saw a crash-down in prices.
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we were in a bear market, today we could turn back into a bull market. we're knocking on the door of that right now. and if you look at the oil fear index, it was well over 80% during the selloff over the thanksgiving holiday. that's back below 50, so that's a sign that the market is getting more calm, you know, about the fundamentals. i would suggest too that it's going to go up. now, the other story i want to watch, the american petroleum institute basically came out and said that there's discussions underway by the biden administration to ban u.s. oil exports. that would be a major mistake for the u.s. energy industry. if they do that, what's going to happen is that we're going to see oil prices go down here in the u.s., go up around the world, and we're just going to have to shutter u.s. production. so i hope that doesn't happen, but energy is playing such a big part in the biden administration and their success9 with the economy and their success with geopolitics as well. neil: thank you very much, i think, phil. [laughter]
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on that. phil flynn following oil prices here. by the way, we're off our highs a little bit. i'm not attributing it to this, but norway now saying it's going to impose some tougher measures, covid measures in the country including limiting the number of people who can visit private homes during the christmas holiday, no more than 10 visitors. i don't know how they're going to police that, but they're doing that in light of omicron and saying at the time being they don't think this will escalate beyond this, but they're taking measures. austria's already had measures in place, but norway now indicating the better part of valor is to impose some limitations now and deal with the fallout later. stay with us. ♪ ♪ shout it, shout it, shout it out loud. ♪ shout it, shout it, shout it out loud ♪♪
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oh my goodness! i don't suppose you can sing, can you? ♪ the snow's comin' down ♪ -mommy? ♪ i'm watching it fall ♪ watch the full story at www.xfinity.com/sing2 neil: all right, not as crazy today, crypto the currencies in play, as you will, trying to come back. bitcoin is in and out of that 50,000 level, 51,000, a little
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north of that right now. but again, it's wild, and it could get even more so right now especially if the federal reserve contemplates acting on what a it is, well, contemplating. let's go to charlie gasparino with more on that. >> hey, neil. mayor crypto investors caught totally off guard on this. we should point out that the theory in the market was, among investors, this thing could go to $100,000. neil: remember that? >> based on a technical factor. there wasn't a lot of selling of it, there was a lot of hoarding of it, and then all of a sudden, you know, you get this massive selloff. and i think what you have now is a feeling of just the opposite, that we could see further declines particularly if the fed goes in there and starts raising rates. i think if it's just a taper, it's not as big of a deal. but if the fed starts raising rates, you're going to see movement out of these risky asset classes, at least that's the theory. you'll see meme stocks trade off, probably, dramatically. you'll see this come out probably traumatically. remember, cryptos are an
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inflation hedge, right? the fed is actually taking overt actions to deal with inflation, there's less of a reason to own them, at least at the margins. unless you're, you know, a true believer, if you believe in bitcoin and its blockchain technology, ethereum or ripple. the ceo and executives there saying they issued a security that was not registered, their xrp currency. that's -- this is a technical factor, but if ripple wins that case, which a lot of people think they have a good shot, xrp could go up regardless of where you have issues with the overall cryptos. just take them out of it. just remember, crypto is generally an inflation hedge, and we still don't know. just a taper? neil: what if it's an alternative to crazy markets hedge. >> crazy markets. neil: right. >> it represents crazy markets.
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neil: if you think about it, they kind of move in tandem with the markets now. >> a little bit. listen, right now we're in kind of a holding pattern. i think what's going on in the markets today, it's reflected in crypto, is that people are taking a deep breath and saying this omicron -- neil: right. might not be as bad -- >> along the lines of what i told you a couple of weeks ago, wall street went out and researched this. it was not the end of the world. this is probably a weaker variant. that's good for stocks in the short term. so when the markets start to look at what the fed is doing, and this is a big question, does he raise a rates? i mean, larry summers is calling for, you know, former top guy in the obama administration economically and, you know, in the, he was deputy treasury secretary and treasury secretary -- neil: that's right. >> -- he's saying they need four rate increases. neil: in other words, you can't just talk the tough talk, you have to act on it.
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which presumably would be a rate hike, a series of them. >> and that's where you could see some problems with all these riskier assets, and bitcoin gets hit with that. neil: got it. well said, my friend, charlie gasparino. you might not know the name, actually, if you follow football, you do, he's one of the most successful passing quarterbacks in the country at central college and iowa, a division iii school, but this guy has an incredible arm and averages, you know, five touchdown passes a game. i don't know many who are doing that. yet whatever his promise in this field, it seems to be substantial, he wants to be a football adviser. he wants to be the next charlie gasparino -- [laughter] which i want to tell you, blaine, aim higher -- [laughter] >> and pass your, by the way, pass your series seven -- [laughter] neil: i have no doubt. he's a top student and a top quarterback. blaine, it's an honor to have you. what makes you want to not go the pro route? i know it's a division iii
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school, but other division iii have become professionals. maybe not heisman trophy winners, but i'm wondering in your case why turn your back on that? >> yep. you know, i set out to accomplish a lot of goals in my football career, and at this point i've kind of reached the end of that road, and i understand a professional career is probably not very likely. while it could be something i could pursue, you know, i've got a lot of opportunities, i think, to do some other stuff with my career, and i'm really looking forward to getting started on that journey and looking to succeed in that area now. neil: you say that you might not have a professional career. some of your biggest backers, your coach, said you would make a fine professional. but you're not interested in that, you've got a great work ethic. i think you're majoring in management and economics? >> yep. economics and business management. neil: wow. so that's a tough double major right there. and you want to go into the adviser realm.
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why? >> i think, you know, being an adviser it's a lot of -- very comparable to being a quarterback. as a quarterback, you're trying to put your team in the best solution to succeed on any given trade, and i think that transitions over, trying to put your clients in the best position to succeed. i think the skills i've learned, communication, being able to adapt to changing markets, you know, changeing environment on the field, i'm schooled in that area. neil: even if you were going on 45, you'd still be young, but having said that, i'm wondering why just financial adviser. what about going to a premier investment firm, a goldman sachs, morgan, chase, what have you? what, what kind of financial adviser? working for yourself, for some of these boutique firms? what? >> you know, at first it makes sense to work for a larger firm,
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get some of those licenses that was mentioned. neil: right, right. >> i think, you know, being my own, my own firm would be something that would be really neat. the kind of main pull for me is to work with clients individually, build those relationships. i think that's something i'll really excel at and have excelled at, maybe in a different field currently, but something that i have a lot of potential to be really successful at and would enjoy doing. neil: you know, you're very young, and i'm wondering, you know, we always hear a lot of times when the young people generally don't start investing or certainly to the degree maybe they should until they're a lot older. so some of their prime market making money years are delayed. would you reach out or try to get young people like yourself to rethink that? how would you win them over? >> yep. i think it's, you know, as an
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athlete i'd really be interested in working with athletes in the future as an adviser, and i think one thing we've seen recently with nil deals in college, a lot of college athletes are starting to have money -- neil: right. >> it's kind kind of what's next, and i think that would be a really cool opportunity for me to get in touch with them and discuss future plans whether it's a professional career or setting themselves up for a successful career in another industry, you know, in their 20s. so that's the financial track i'm on. neil: what do you think of the markets right now, blaine? i'm sure you look at them. a lot of people say they're red hot, despite omicron concerns, whatever, that they're a great haven for money, but some say they've gotten a little long in the tooth. what do you think? >> yep. honestly, the omicron concerns have definitely been something in the news recently and contributed to some drops in the market, but i'd say currently, you know, as far as the overall state of the market, seems pretty healthy to me.
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i know a lot of people are starting to think, you know, as you mentioned, long in the tooth, but i think there's still plenty of time, and the economy's moving in the right direction. neil: so if a young person came to you right now and said i've never invested in the stock market, but i'm going to start right now, i want to do something that mimics the performance of the s&p 500 or the dow or the nasdaq 100, what would you tell them at this level coming in fresh? >> i would definitely recommend a slightly more aggressive strategy. being someone who's younger, we probably don't have quite with as much, as many assets at your december posal, and i think -- disposal, and i think it's a unique situation to take advantage of the financial times, and i think, you know, as a younger person it's all right to be aggressive and, you know, maybe take a few risks that you wouldn't take as you get a little bit older. neil: yeah. i know exactly what you mean by older, blaine, i'm taking offense now. would you recommend someone my age -- older than you, just leave it at that -- the longest
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i can look forward to is an investment with about a week shelf life? >> no, i think you've got definitely more than that in store for you. [laughter] yep, at least two. [laughter] neil: all right, braun. thank you very, very much. continued success. blaine hawkins, central college quarterback. great buzz, an incredible passer, incredible arm, but he wants to try something else. that's pretty bold. all right, we have a lot more coming up including glaxosmithkline out with some very promising news on a possible treatment for omicron. after this. ♪ ♪ move along, move along like i know you do. ♪ and even when your hope is gone, move along, move along just to make it through ♪♪
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♪ neil: all right, it's definitely more contagious, just not as dangerous, that's what the medical community seems to be saying thus far about the omicron variant you've heard so much about. spreading fast but so far not spreading death and destruction in its wake, and we're already getting news of that glaxosmithkline is working on an antibody treatment that does, indeed, work against omicron. let's get the read on this from the former health and human services chief medical officer. doctor, good to have you back. what do you make or how would you describe omicron as you see it and know it right now? >> yeah. so, hey, great to be back, neil. so right now what we're hearing is that, of course, the spread of this new variant, not surprising we're expecting this virus to have different variants. we see beta, the delta which is now currently the dominant variant and, of course, this new variant which is making its way. just like was said, it's acting
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like we would expect it to be. it is more transmissable and, hopefully, it does what other viruses want to do is be good to its host, not be bad to it by making it sick and hopefully it'll be less virulent. we want to also insure that the vaccines are at least partially effective to prevent morbidity, mortality, something that we always hear about, and so far so good. and just like you said, glaxosmithkline is also looking at the medical therapeutics. this has been an area that i think we have not talked enough about. medical therapeutics or what treatment options do we have if someone does suspect that they're already either exposed or has some just-starting symptoms in which case you could get on monoclonal antibodies and different antiviral pills that we've heard about from merck and pfizer. so these are really good options
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that once again limit the bad outcomes that we're all so worried about. neil: you know, norway, doctor, has taken some measures which struck people as surprisingly rigid in light of this saying right now it's going to reimpose restrictions even on gatherings in private homes presumably right through christmas of no more than 10 people. it's also stopping restaurants from serving alcohol after midnight. providing economic incentives for businesses to continue working from home. an overreaction? what do you think? >> you know, i think this is the real question right now. i think folks are really tired of all this. we have seen the suffering of the mental health aspects of lockdowns, and really what i want to say is while there are people there who are fearful of even the mere mention of covid, we also don't want to go and overreact in the effort to prevent any cases whatsoever that really end up doing more
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damage with the financial potential losses. we've heard from your earlier guests who were talking about the upcoming new york city mandates that are really going to potentially harm them and their employees and their future business. we also don't want to see folks with the difficulty of kids being out of school or participate in after school activities. so these are the issues that we really have to balance, and what i'll say is the evidence is not there is yet to really justify these actions. i understand that norway is a different country, it's a different demographic, but we currently -- i don't think we're there yet, and i don't want to see people go through what we've seen in the past. neil: doctor, well put. good seeing you again, former chief medical officer at hhs. obviously, people are frightened all over the world, but on a day like this, you have to be reminded there were in our times
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things that were a lot more frightening. i don't know, 80 years ago today comes to mind. after this. >> december 7th, 1941, a date which will live in infamy. the united states of america was suddenly and deliberately attacked by naval and air forces of the empire of japan. ♪ ♪ ♪♪ care. it has the power to change the way we see things. ♪♪ it inspires us to go further. ♪♪ it has our back.
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as i observe investors balance risk and reward, i see one element securing portfolios, time after time. gold. your strategic advantage. ♪ ♪ neil: it was a day that would live in infamy, the attack on pearl harbor that caught this
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nation unaware and surprised, some would even say stunned, and it would take many months for us to reright ourselves but ultimately avenge that attack and change history as we know it. connell mcshane right now remembering this 80th anniversary of the attack on pearl harbor in honolulu. connell. >> reporter: hey there, neil. the ceremony that is commemorating that attack from 80 years ago, the unprovoked attack by the japanese on pearl harbor is just about to wrap up as they move to the wreath-laying ceremony as part of that. there was an audio message sent in earlier from president biden, remarks were made by the secretary of the navy as well, and, you know, what's remarkable about this event, being here in person, is the amount and the number of veterans who have been able to come in person this year as well. we're told about 40 survivors of the pearl harbor attacks are here this year and over 100 other world war ii veterans here as well, many because of the fundraising abilities of so many
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charities. for example, we ran into this group the other day from orange county, california, a busload of veterans who were here. and in speaking to some of those veterans, you can just feel the emotion from the likes of 97-year-old bryce johnson. take a listen. >> it just brings tears to my eyes when i think about all the people that didn't return, and we're such fortunate people that we did return. and it just, i, i'm not in very good health. i'm blind, i can't hear, and i have to use a wheelchair, but i still am a patriot. >> reporter: it's remarkable speaking to so many of these people their vivid recollections, they can tell the
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story like it was yesterday. there was a man who was 99 years old, he said i just had breakfast, saw this plane coming and didn't think much of it, but the next thing you know, there's bullets right near where he's standing, there was a japanese flag on the plane, and he knew something was obviously wrong. at first he thought it was a drill, but it turned out it was all too real. the real mccoy, as they call ited on the radio that day. 2,403 military and civilian deaths that day. the arizona memorial, we have a live shot of it here, the harbor is right behind where i'm standing, and, you know, that is still the final resting place for 11 is 00 of those sailors to this very day -- 1100. they're all being remembered 80 years later, neil. and to wrap things up, i'll mention you've probably seen just in the news coverage the last few days that the weather in hawaii has been terrible. there's been storms coming in, heavy rain and winds. but still, these people, these veterans, many of them in their
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late 90s, over 100 years old, it was so important even in those conditions to come in person, and so many of them have been able to do it and be here this year. neil? neil: it doesn't surprise me at all. connell, thank you very, very much. as we go to break here, i do want to pass along my own reflections on that day concerning my dad. when he had heard that pearl harbor was attacked, the very next day he signed up to join the war and fight the fight. i asked him as a teenager, you know, dad, did you ever think of going to canada? after launching me into orbit, he proceeded to say nothing more. we'll have more after this. e 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. as a fiduciary, i promise to put your interests first, always.
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neil: you know, we're the only country right now that has this diplomatic boycott of the china winter olympics. other countries are supposedly considering it. china, meanwhile, is threatening the u.s. with retaliation over this measure. let's get to greg palkot in london with the very latest. hey, greg. >> reporter: yeah, china wasted no time in blasting this just-announced diplomatic boycott of the olympic games by the united states. the biden administration saying it would send no officials to the event set for next february in response to concerns about
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human rights abuses in the country. now today a chinese government spokesman said the move violates sports neutrality, to olympic spirit of togetherness. xi jinping not stopping there, threatening the biden administration with resolute countermeasures, unspecified, saying the u.s. will pay the price for its practices. critics say, neil, biden should have gone farther with a complete boycott u.s. athletes will attend. it's not clear who from the u.s. would have gone. former vice president mike pence was at the winter olympics in 2018 in south korea, first lady jill biden attended summer in tokyo. china didn't invite anyone from the u.s. anyway. and, yes, as for other countries, the other one who says it won't send officials is new zealand. the government here in the u.k., japan and australia say they're considering a diplomatic boycott. we can confirm, though, that russian president putin will be going. as for the u.s. business side of
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these games, well, nbc uniing versal's going ahead with its plans to broadcast on multiplatforms and, of course, those huge corporate sponsorships and lucrative ones, they're in place still as well. apparently, the games will go on. back to you. neil: yeah. they are very, very important, aren't they? thank you, greg, very much. my next guest says that china will do something here, but it doesn't necessarily have to be in response to what we're doing on the olympics. they've been building this presence at a far more aggressive pace even when it comes to the proverbial space race. glenn reynolds writes in "the new york post" of this phenomenon that we better pay attention to it. glenn, very good to have you. i love reading your stuff, but that piece you had a week or so back looking at the chinese, there are far bigger challenges than the soviet union ever was. you point out at the end a space race isn't necessarily a bad thing, the last one got us to
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the moon, so long as we don't also get a hot war. preventing that is more about what to do on the ground than what we do in space and wish us luck. but china is doing a lot both on the ground and in space if, aren't they? >> china's very aggressive. in fact, a lot of people compare the current situation to before world war ii germany or japan before world war i. they think the existing powers are weak and decadent and it can shoulder them aside if it's just resolute enough. that didn't work out well for either germany or japan, but it doesn't mean that it didn't cause a lot of trouble for everybody else, and i think that's the story for china as well. they're very aggressive in space both on the civil and especially on the military side -- neil: right. >> they're blowing up satellites, they're attacking our sat clients with laser beams -- satellites and radio jamming and cyber attacks and preparing for much more potent stuff than that. neil: i was thinking about your
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writing and your thoughts, glenn, and i'm thinking we had the same naivete about the then-soviet union and that it didn't have the tech roj call prowess to -- technological prowess, then came sputnik, or certainly to launch a man, and we seem to be similarly surprised by china's move particularly with regard to this old huge space station that they're building, to say nothing of what they're doing on the moon. they've already returned unmanned rockets, lunar samples. we might say been there, done that, but they're running at hyperspeed along with capsules circling and landing on mars. where are they getting the wherewithal to do all? >> well, you know, the fact that it's been done before is half the battle. we didn't know you can do it until we did it, and they know they can do it. some of their technology is obtained from us, but none of this is any great mystery. it's all physics and engineering, and they've got good physicists and engineers in
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china. the thing they have over us really is they've got determined leadership that knows what it wants. our leadership doesn't know what it had for lunch, so, you know, that's a problem. neil: you know what i wonder about too, what is their end game. i know they're spending more on their space program than all others including ourselves and the russians combined. so they're moving fast to do something. what? >> well, i think they see it as a combination of military domination, some people refer to space as the new high ground. there's also really a resource struggle in terms of both materials and energy that are available from space is incalculable by everett standards, and their goal -- by earth's standards. and their goal is to get there first. neil: when you talk about some of the private ventures that are sort of dominating the scene right now, talking about spacex, you know, elon musk, to say nothing of the jeff bezos, the
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richard bransons, does that give us the innovative edge that the chinese do not have? >> absolutely. and the chinese want very much to essentially grow their own elon musk and are are trying to do so, although i have to say elon musks don't exactly grow on trees. [laughter] spacex is our big ace in the hole. we've got a very powerful, fast-moving, innovative commercial space sector that is doing things nobody's ever done before. on the military side, we created the space force a couple of years ago, and, you know, the nice thing, we created a new bureaucracy. you get about ten years of it being energetic before it starts toesfy like nasa in the 1960s. and somebody decided we needed innovation and rapid movement now, and so i'm hoping space force will deliver some of that. neil: you know, john f. kennedy said the thing that helped him
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sell the expenditures to get into space was the fact that we were competing with the soviet union, so in a weird way, this battle we have versus china -- and russia's there too, of course -- is it going to change our view of how we go into, into space and aggressively so, because china is moving so fast? >> well, i mean, historically going back hundreds of years competition has always been a stimulus for exploration. and i think that could be the case here too, absolutely. neil: all right. we'll watch it closely. glenn reynolds, university of tennessee college of law professor, neat9ly lays this hot. thoughts we should not ignore. they say we come in peace for mankind. sometimes not necessarily. after this.
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neil: down 520 points. charles payne taking through what could be an eventful hour. us is. hey, charles. charles: good see you, neil. hi, everyone i'm charles payne. this is "making money." jay powell lurking in the background so will this impressive market rebound last? this new investor revolution is being tested. individuals may taking too much risk and but risk is the only game in town. plus president biden holding a global summit for democracy this week but why are human rights

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