stuart: my relative probably googled this. that is kind of cheating. doesn't really matter, does it? all good stuff. ashley, see you again tomorrow. >> my pleasure. stuart: my time is almost up. i leave you with one thought, look at the nasdaq, down 280 points. that is the best part of 2%. selloff in big tech. time's up for stuart. neil, it is yours. neil: thank you very much and to your point, stuart, tesla is now well into bear market territory. we'll be pursuing that, to say whether this has some greater meaning here because a lot of the breakdown has been concentrated in some of the big names as well. also keeping you abreast of developments right now on the, on the covid front, year to the day, the first vaccine started reaching americans, year ago today. since that time 450 plus million vaccines have gone out to americans. that is just in this country. meantime hope when it comes to omicron, maybe pfizer has the answer.

had it all along. we've got the former cdc director robert redfield here. he will weigh in on that. meantime we've got gerri willis to weigh in on everything from i guess a pill to other products that could be out, some already, and some not too far from now, right? reporter: a lot of this things i will talk about, they're not shots in arms. they're actually in vitro. keep that in the back of your mind when i talk about them. pfizer saying preliminary in vitro lab tests show its covid-19 pill works against the new omicron variant. the pill is currently under the review by the fda for efficacy among high-risk adults. pfizer spokesman tells fox business, given the he have effy action and viral, replication, that's it of coronaviruses we believe this indicate as strong potential to maintain robust

antiviral activity against omicron and other pair rants he said. now the key to the pill's success, it block as key enzyme, i talked about it before, that the rye russ copies to make itself. that was not mutated. virus pill likely stops omicron from spreading because of 50 or so other mutations elsewhere. they are describing the pill as a real home run, that is a quote. the drug in a final analysis of late-stage study results was 89% effect tim in reducing hospitalization and death in adults at high-risk of severe covid-19. meanwhile only day as of new york state instituted mask mandates, state of california reinstituting its indoor mask mandates as covid-19 cases in the case have risen almost 50% in the last 2 1/2 weeks. hospitalizations up 50% that mandate will last, neil, until

january 15th. neil: i have a feeling it will be pushed back yet again. could be just me. gerri, thank you very much. a lot of companies are given this, changing their policies with regard to getting workers back in their offices. some substantially. jackie deangelis runs through what we got right now, right now. hey, jackie. reporter: good afternoon, to you, neil, that's right. a slew of new rules coming in new york state, the city, businesses, residents all adjusting here. first off, jpmorgan a memo to staff will only allow vaccinated staff and visitors to enter its offices here in the city. because of that mask mandates will be eased there. in jpmorgan jpmorgan if you show proof of vaccination you don't need to wear a mask this is coming after the implementation of the new mask mandates by the governor. now the general rule is basically this. if you enter a business that doesn't require proof of vaccine you do have to wear a mask. it is not just here in the city. fidelity, which is headquartered

in boston is pausing its pilot return to office programs in that city as well as in smithfield, rhode island and merrimack, new hampshire. the company cites covid risk scores in the change for its policies. kroger is making changes, trying to get employees to be vaccinated. starting next year vaccinated lose some of their benefits. there will be no longer unpaid leave for covid-19 patients if you didn't get your shot. the company will apply a 50-dollar monthly health insurance surcharge to salaried non-union workers who are unvaccinated. they're enrolled in the company's health care plan. actually what that is a penalty. now interestingly enough, more hospitals are going in a different direction because they actually need workers. they're dropping staff vaccine mandates. so hospital operators like hca health care and tenet healthcare, they're doing this, as well as some non-profits like advent health and the cleveland clinic. it's a lot.

it is making people's head spin, neil. neil: to say it mildly. thank you, jackie deangelis. is all of this overkill or properly being cautious? let's go to dr. robert redfield, you remember him, the former cdc director. good to have you back with us. what do you make of some of these precautions companies are taking? >> well, neil, i think the most important thing we can all do is try to make sure we're vaccinated and we keep our vaccine status up, now requiring at least a third injection at this point. i do think that each of the companies can decide you know, what the roll is for masking and other mitigation steps within them. we're clearly going to be in for a tough couple, i think, a couple of months with the omicron variant coming which is much more transmissible, replicates at a higher rate. so i just think, trying to get people vaccinated, maintaining their vaccine status, get them

boosted, trying to bring in different mitigation steps which masking is critical, the other one i think is underutilized to take advantage of routine testing in these circumstances where people are actually tested say once or twice a week so you can understand who has silently infected and get them out of the transmission pool. neil: could you have envisioned, director, a year ago today, when the first vaccines became available for folks we would be where we are, better than 450 million have been vaccinated, at least one shot i should say? i yet, the cases continue to bedevil us, between omicron and some other variations it is still very much with us across the globe? what do you make of that? >> yeah, neil, i think it would have been difficult to envision it. i think many of us had anticipated that the development of vaccines which i do think was relatively unprecedented when

"operation warp speed," really worked hard to bring four vaccines to approval, one and only in europe and three in the united states. you know, we thought that that vaccine would have some impact. the reality is that, that this virus, when you get naturally infected with it, you don't develop long-term immunity. once that was figured out, one could anticipate when you get vaccinated you're not going to develop long-term immunity. so the challenge that we have is that this issue some people felt early on that once we got to some threshold of immunity, they called it herd immunity we could get this behind us. the reality with us, herd immunity is not operational for this virus. that we'll continue to have a group of individuals that are susceptible. they get infected, they get vaccinated. the vaccine wears off. it wanes. they either need to get revaccinated or become

susceptible. if they're naturally infected the immunity wears off or they need to get vaccinated or they become susceptible. this will be a real challenge for the next several years while we try to maintain the population so that the population is protected and the strength of that profession is going to be recurrent vaccination. neil: you know people get sort of vaccination fatigue i guess, doctor. they look at it, say, all right, one shot is one thing. two shots another, booster another. pfizer saying additional booster shots go a long way toward paraphrasing here, doctor, mitigating omicron, yet the omicron cases are really soaring and to your point it is very contagious. so far despite one death in the united kingdom, the not very, very dangerous right now but where are you on just omicron, how to deal with it? a lot of people deal with the booster doses they might look at, pills down the road, enough already. what do you say?

>> i think it is critical we continue to try to prevent transmission of this virus. vaccination is one of the most powerful tools we have. i mentioned a tool of routine testing, identifying silently infected person, pulling them out of the transmission pool. it is true this virus will continue to evolve. there will be a variant after omicron. when the delta was there, i felt very strongly there will be a new variant. that new variant will have a replication advantage. how will it have advantage over delta which is great replicate tore t has advantage of people already infected or vaccinated. that is exactly what we're seeing. at the level of immunity we need to protect ourself against omicor is significancely higher than the level of immunity to protect itself against delta. that is what i think we'll continue to see, although you're right, it definitely does appear to be less pathogenic. i think that is the way these

viruses evolve, they become more transmissible, less pathogenic. that is what a virus wants to do. when i say it is less pathogenic, if it is infecting three or four times more people even though 30% less likely to put in the hospital, the potential burden in our health care system is going to be substantial. so i think it is, it would be a mistake for us to think this virus can't put you in the hospital. it would be a mistake to think the omicron variant can't actually cause you premature death. and so we really do have to be aggressive. it is going to be a challenge because we are going to see a substantial increase, i think in infections. this will be the dominant variant in the united states in the next 12 to 24 weeks. part of our big goal as a nation should be how do we keep our schools open, how do we keep our economy open, how do we keep moving forward in the face of the fact that we now have to deal, you know, now even a more infectious variant in the united

states? neil: i do wonder your thoughts before i let you go, doctor, on masks. as you know they're required in all indoor spaces in new york right now and this despite the fact the new york city adult vaccination rate is over 90%, and across new york state over 93%? are masks necessary? >> well i think it is important, i'm not an advocate for mandating masks, at least by the government. i do think individual enterprises, private sector can determine whether they want masks to be worn when you're in a grossry store or not. there is no doubt that masks, if i wear a mask and i'm silently infected that mask may help me not infect you. i think that is the real thing it does. a lot of people think it is protecting them. i think really more it is protecting the non, the infected individual from infecting others. neil: right. >> i think it is important when you look at it, one of the things that was remarkable to me

as cdc director, we saw when we wore masks we actually saw no flu cases, we saw no rsv cases. those masks really worked to stop the respiratory virus. they didn't stop totally coronavirus but i do think masks play a role but i think each individual needs to make that evaluation. if they're fully vaccinated, they have been boosted in the last 60 days, obviously their risk of being infected and transmitting is negligible this is what we have to do, we have to have individual trust in individual citizens to make the right judgment for themselves and wear masks when they're in situations potentially could be at risk for other individuals, and probably stay away from these broad government induced mandates. neil: just a little common sense. robert redfield, former cdc director under donald trump. to the doctor's point, we're

seeing mask requirements expand beyond new york and california, thinking of instituting that statewide, an indoor mask mandate for everybody indoors. we're getting word out of the nfl requiring covid boosters by december 27th for all nfl players. we'll keep you on top of that. keep you on top of the latest developments in washington where the senate will tackle that debt ceiling measure. that doesn't look to be a problem for the time-being though but the build back better measure, that is looking like it's a problem, after this. ♪.

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♪. neil: all right. the senate is expected to do what the house did, go ahead and pass some sort of a resolution to keep the government lights on as they say, raise the debt ceiling. republicans are warning that this is the last time we'll help you out. back and forth despite all the heat seems to indicate at least this crisis will be averted. chad pergram with the very latest. chad? reporter: that's right. we expect that senate vote later today. the social spending bill though is no closer to passage than it

was a couple of weeks ago in the senate. that's because democrat joe manchin urges a pause. he is worried about inflation. >> different considerations that's all. >> what did the president say? >> senator, anything is possible here. >> you're still willing, still engaged in these negotiations? you're still engaged in, willing to talk? >> yes, i'm engaged. reporter: inflation is now spiking at a 40-year high. president biden spoke with manchin yesterday. there were no breakthroughs. democrats can't pass their bill without manchin's vote. here's why there is concern about inflation. congress spent trillions on covid last year and earlier this year. a bipartisan basis last year, a partisan basis this year. >> folks in congress are concerned about the accumulation of all of the relief packages going back to the cares act at the very beginning of the

pandemic. greatly increased fiscal stimulus at a time when the economy was rapidly recovering and people were returning to work. reporter: but the top democrat in the senate is still eyeing approval of the bill before the holidays. >> means a laborious process requiring a lot of precision and a lot of pieces moving together. the work is not yet finished but we're working hard to put the senate in a position to get the legislation across the finish line before christmas. reporter: the senate votes today to raise the debt limit t will hike the debt ceiling by $2.5 trillion. schumer says the figure will get the nation through 2023. only democrats will vote for the bill. the house votes later tonight or tomorrow. this week aides meet with the senate parliamentarian. they need to see if the social spending bill complies with budget rules. neil? neil: chad, real quickly, i know the focus is on joe manchin. are we taking it now as a given the president has the support of

krysten sinema in arizona? reporter: no. not at all. i even heard some other senators mentioned as well. we just don't know, all the focus is on him and sometimes joe manchin is happy to take the heat and be out there in public talking to the president when there are other senators having reservations but again it comes down to the math. if you don't have joe manchin, then you don't have 50 votes, you can't move this bill on a partisan basis through the senate. neil: got it. chad pergram, thank you very much. the read right now from senator joe lieberman, former senator, former democratic vice presidential candidate as well. senator, you know joe manchin pretty well. he is been in the fights before with democrats. nine times out of 10 he ends up voting with them maybe because he succeeds in crafting a package or helping to craft a package more to his liking but is the drama warranted here? do you think in the end he will go along with the president?

>> well, neil, great to be with you again. i think that joe manchin is a naturally and sincerely a centrist and fiscally responsible and he really is bothered by the amount of spending going on in the federal government, even though a lot of the programs in the build back better bill are sound good but can we afford them? so i don't think this is artificial drama. i know joe pretty well and i couldn't predict to you what he is going to do. i hope he sticks to this idea of a pause. in other words, he is not against what's in that bill that president biden wants. he just thinks we ought to step back for a while to see how the economy does, see how the inflation number does. get a little more public debate about all these programs that the bill creates for another almost $2 trillion. neil: getting a lot of heat from fellow democrats.

you've generated heat yourself from those same democrats in the past. you were an independent senator when all said and done but you did caucus with the democrats. i'm just wondering do you think joe manchin will be pushed in that direction? >> well it's tough when you're one of a small group in your party caucus who has a different point of view and, i did go through that a couple of times. inevitably, for some reason the media seems to focus on one person as they are on joe manchin but i think there are at least one or two others who feel pretty much the same way he does. i had that same experience when i opposed what i thought was an attempt to insert kind of government control of health insurance and health care in america when we adopted obamacare. i was on the point that there were three or four other democratic senators who felt pretty much the same way. that was okay with me because in the end it all worked out all

right but you know i think joe manchin feels that he is a democrat but he was sent to the senate to do what he thinks his best for the country and for his constituents back in west virginia and sometimes that means disagreeing with most of your fellow party members but you know, too bad. that is the way it is. you have a higher responsibility which is what good for the country as you see it. neil: on reality is, donald trump won his state by 40 points. so you have to keep that in mind as well. i am wondering where this goes, senator? the betting seems to be you know, joe biden is in a world of hurt in these polls now. you and i have discussed polls and how quickly they can change. it could be a very, very different world, you know, 10, 11 months from now. but as things stand now, the betting is that democrats could lose the house, might even lose the senate. how would that change things for

president biden? >> oh, obviously it will make it a lot harder. traditionally as you know the midterm election goes to the out party. neil: right. >> and it sure looks like republicans have a big lead now and all the indicators in the house races. senate will be closer but they could carry the senate too unless things change. what would change? that we have a feeling that we really are coming out of the pandemic and that there is no new virus variant that is scaring everybody. the second thing is that not only the numbers begin to show inflation is decreasing but the average american consumer feels it as he or she goes out to spend their money to buy the things they need to buy or want to buy. right now it is not clear that either of those will change. and i think if they do change for the better, the democrats

are still fighting uphill in the house but if those new virus and economy look better, next november, i think it is better than even chance the democrats will hold the senate. but of course for biden, most majorities really close in the senate, one vote, vice president, so far already but it is going to be even harder to get things done in, keep the house in 23 unless there is, a bit of a crisis of some kind that requires the parties to work together. probably not much is going to get done between 23 and the election of 24. neil: we'll see. right. sometimes one galvanizing factor can be a crisis. we'll seeow that sorts out. joe lieberman great chatting with you again. joe lieberman, former vice presidential candidate. one development we're watching

in washington, the house now poised to vote to hold former white house chief of staff mark meadows in criminal contempt of congress for defying a subpoena that was issued by the committee investigating the january 6th attack on the capitol. he had said he was originally going to participate, you might recall, then pulled that participation promise back. they're saying this warrants a subpoena, looks likely by narrow est margin in the house. we'll keep you posted on that. ♪.

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set right now to go after mark meadows, donald trump's former white house chief of staff for refusing to honor its subpoena to appear before the bipartisan committee that is looking at the january 6th insurrection on capitol hill. he refused to do so. now they are interested in holding him in contempt. now the committee voted unanimously to take this action. it will go to the full house where it is expected to pass as well. they are arguing right now that meadows had already promised to speak to the committee and that he took that back, that cooperation back. this would be a misdemeanor criminal offense. often times it can result in up to a fine everyone hundred thousand dollars, even a year in jail but the committee says it had no other choice. this was supported by two prominent republicans including liz cheney on the committee. saying mr. meadows had an

obligation to come before the american people and the committee to sort out what went down on that fateful day. we'll keep you posted on that, when that vote begins. again that is expected today. we just don't know exactly the margin but it would likely pass in the house. then the lawyers go back and forth how to resolve it. meantime, we're watching other washington developments, probably more important to your purse and wallet, a kick-off of a two-day federal reserve meeting amid a inflation report that comes out at least at the wholesale level it is running at 9.6% year-over-year clip. edward lawrence now with more from the white house. edward. reporter: yeah, and part of that wholesale number you talked about, neil, passes on to the customer there. we could see more inflation down the pipe. as you mentioned, the fomc, the group within the federal reserve started the two-day meeting to set monetary policy. this is the first meeting since the federal reserve chairman jerome powell retired the word transitory. here at the white house we start

to see the blame game happen. the moment president biden reintroduced federal reserve chairman jerome powell for his renomination to that top spot. now in that speech from the president he said inflation is the fed's mandate, in that renomination speech. he also pointed out how the fed chairman maneuvered the economy toward full employment but listen to the president's words on inflation. >> jay's the right person to see us through and finish that effort while also addressing the threat of inflation. reporter: so he addresses the inflation. now the white house press secretary saying they know inflation is a strain on working families but stresses wages are going up. the problem is the data shows that inflation is going up faster and famed economist mohammed he he will aryan, the d calling the inflation transitory is probably the worst call in history of the federal reserve.

republicans blame it on president biden and his policies. democrats blame supply chains. >> every time the government runs deficits, just rely on the government, we get more inflation. look what happened this whole year. reporter: and again we do have representative debbie dingell was making the point earlier today that she sees that significant inflation is because the supply chains have moved all over into china. she wants to see the supply chains come back into the united states. so the longer this inflation remains elevated the more likely, neil, it becomes a issue next year during the2022 midterms. neil: they were not envisioning it spiking to the degree it has of late. thank you very much, edward lawrence. by the way we were talking about mask mandates and all the states and cities reimposing them, add apple to the list, reinstituting mask mandates at all u.s. retail stores because of all the

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♪. neil: all right. a lot of job offers in the financial capital of the world but not too many takers and that is making the big apple look like increasingly a big bust when comes to coming back after the pandemic, if it can come back to fully what it was before the pandemic. go to madison al worth following it very closely in new york. madison. reporter: hi, neil, yes, the financial capital of the world seems to be falling behind. no other large american city is struggling as much as new york to bring back its workforce. during the early months of the pandemic new york lost close to one million jobs and thousands of businesses closed. according to the center for new york city affairs new york has only gotten back 60%. the country as a whole, that has

regained 90% of the job loss during those first two months of the pandemic. take a look at the unemployment struggle. in october new york had an unemployment rate of 9.4%. that is double the national average of 4.6%. and even the workers that are back they're not adding as much to the economy as they were pre-pandemic. as of october 2021 only% of manhattan office workers, excuse me, only 8% of manhattan office workers are back in the office full time. think about that. less than 10% of workers are back at their desks. so those skyscrapers new york is known for are empty. with the emptiness, and visitors slow to return, accommodation and food service industry, they have seen a 22.9% decline in jobs. that is three times the national average for that industry. so people are visiting and eating out in other places, just not seeing that here in new york. one thing that has been keeping the city afloat, neil, compared

to the past two recessions that started in 2000 and 2008, the financial sector has not been hit as hard by job losses. even if those employees are working from home, even outside of the city, their tax dollars are still going back to new york but overall new york's comeback is trailing behind the rest of the country, neil. >> all right. you could see it out in the streets. it is not what it was. madison alworth, thank you very much for that. you key what is happening on the corner of wall and broad with the dow trailing 160 points. for cryptocurrencies, minus dogecoin, on news that tesla is open to accepting this currency for payment for merchandise down the road. it was last i checked up about 20%. do we have that, guys. i think it was, last time i checked. you have to take my word for it. it is up smartly today, can't figure that percentage in my head. looks like a lot. get the read from george seay

annandale capital founder. stand alone for the crypto plays for the time-being, george, but what do you make of tesla making this move, what was dismissed as a sort of a joke investment that soared in value? >> yeah, neil. elon musk is basically giving a thumb's down to currencies, the dollar, the euro, the pound, everything else, trying to get his consumers another way to purchase his products and also give themselves a way to vote against the fiat currencies, central governments and central banks and it has been very effective. it is somewhat of a joke. it is a casino, there is no store of value in cryptos and it gives people an option and why they're bidding up. it is entertaining viewing for professional investors. it is our form of popcorn viewing in the stands on a game that isn't well-suited for

reality. neil: to help viewers out i did crunch these numbers. this is at around 19 cents. it can be very volatile to put it mildly, with run-up today running up a 22% clip. i raise this, that is the nature of the beast with these investments, right? they're not for the faint ever heart. among those would be even for more challenged faint of heart. where do you see this whole technology going? this whole investment sphere going? so many more are trying to give it street cred in new york, the incoming mayor wants to be paid in bitcoin. the mayor of miami, florida, pretty much the same. other countries considering considering using it as a viable currency. where is this all going? can you hear me?

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>> never be the same. resilient. take a long time. >> devastating, man, nothing i can do to pray to god we get this town back. >> to see our community broken like this has been overwhelming. >> people people who have not heard from family and loved ones, so worried. we'll simply pull together and find ways to grief, celebrate, to locate, and to care. neil: in the meantime we know of 88 confirmed dead in that vicious series of tornadoes that ripped parts some six southern states over the weekend. the death toll in kentucky alone, 74. that is where the president is going tomorrow to mayfield, kentucky, which is the epicenter of all this tragedy. grady trimble is there, and has the latest. reporter: hey, neil. we just got an update from

governor andy beshear. he says more than 100 people are still unaccounted for. the insurance information institute says this will likely be the costliest tornado event in u.s. history. you can see why. there is just destruction everywhere in mayfield, kentucky, and this is just one city of so many that are reeling right now. we've been talking to folks here over the past couple of days. all of them have vowed to us this community will rebuild but they ask how do we even begin with that process? and it turns out as you can see here, rebuilding starts with demolition. these folks that you see are all volunteers. then if you look this way, you can see the demolition equipment is just all over the place. in fact they don't have enough of it in mayfield, so other counties nearby have come in to help with this process. governor beshear talked about the demolition and the clean up that is underway all across

kentucky right now. listen. >> tell you what, it feels pretty good to not just be pushing this stuff out of the way but to be loading it up and taking it out of town. there is something therapeutic about taking that chaos and destruction and death and getting it out. reporter: and that is exactly what we're watching right in front of us. this machinery, lifting up the debris, loading it into this truck and taking it out of mayfield. help is pouring in from all across the country. large corporations have stepped up like tyson foods and walmart, 600,000 meals for those impacted by this tornado and lowe's making donations as well. individuals are helping out as well. the governor said 66,000 people so far have donated to the state's official fund. the total of those donations,

neil? nearly $10 million but they will need a lot of money and a lot of federal help to rebuild. the president will see first-hand this damage when he visits tomorrow. the people here hope that he sees it and understands just how desperate they are for any type of help they can get. neil: thank you, grady, very much. the scene is just incredible to your point. it looks like a war zone. grady trimble in mayfield, kentucky. grady was mentioning all the various private enterprises and groups that pitched in to immediately do whatever they can, not waiting for the government to do anything. brian trasher, the familiar name for the united cajun navy spokesman. he and his buddies are there every time anything horrific happens. this is just what they do. brian, great to see you. sorry under these circumstance. >> thank you, neil. thanks for helping us spread out the word like you always do. neil: it starts with you, brian.

that is a big task to put it mildly. you're dealing with massive power outages and getting to locations. just tell us what is going on right now? >> first of all, when we first started getting the reports saturday there was help needed, search-and-rescue teams, our dogs that are able to recover people, drone teams, things like that, we knew that was all going to be necessary. one of the things that is very different than even what we're used to mostly dealing with hurricanes, hurricanes you can get few days advanced notice where the lan fall will be, how bad it will be. tornadoes are really just, they don't announce themselves, they show up. i was talking to general horore, the early warning civil, assuming you were in the path, you had 12 minutes. that is not enough time to move your car out of the way.

hurricanes or tidal wave destruction, storm surge destruction. you still have structures there. even if you don't have a house anymore, you have a slab. pictures from the field team in kentucky, it is nothing. it looks like a dump site. it is flatenned like nobody ever inhabited it. neil: so you get there, brian, or your people get there, what is the first thing they do? they have to sort of get the lay of the land, so to speak, right? >> yes. we were doing intel gathering on saturday. we identified a corridor between the town of mayfield and madisonville, i'm sorry, mayfield and bowling green where the path seemed to be the worst. we set up in a town called madisonville. one of the churches in our net work agreed to host a point of distribution site. once we had that secured. we starred loading up the trucks at our wire house in baton rouge, louisiana. they started taking off sunday. we should have a 18 wheeler

arriving in couple hours in that area. we start setting up. we organize everything. create a drive-through or walkup distribution site where locals can get things like tarps, hygiene, products, supply, water, mres, pretty much everything you would need after a hurricane. we also have some equipment that can, that can clear out roads, chainsaws, we have generators. all these things are on the way or some of it is already there. we just, we just had to be there, all these states helped us out after ida. this is what we do. neil: this is such an unusual storm, series of storms. over 250-mile swath of course that just defies descriptions, the worst tornado december we've ever seen and that is what you're in the middle of. tomorrow presidential visit besides. how do you juggle all of that? >> we're starting to run into you know, a lot of the logistical programs that you get when you go into a disaster

theater. like the state police, local emergency management will start getting orders not to let anybody in. they're worried about looting and bad actors coming in. sometimes our volunteers get stopped. so we're working with some local officials to get an identification system bus the things they have, they will not turn down. they don't want to be inundated with water and mres, they have a lot of that from national guard and fema. we're still assisting in search-and-rescue. we're used to that, neil. that always happens. neil, so we're going to work with the locals. make sure they're comfortable with us and that we can make them as comfortable as possible. neil: you always do, brian. my hat is off to you and your men and women. the united cajun navy spokesman. we'll keep an eye on that ahead of president's visit. keeping an eye on coming house vote that former chief of staff

mark meadows should be referred to the justice department for a criminal charge because he refused to testify to the january 6th committee looking into the insurrection that day. he is not being cooperative. if you don't answer a subpoena, you got some trouble. now they're saying the former chief of staff to donald trump has some trouble. we'll have more after this. ...

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neil: all right, omicron and wholesale inflation combining to knock the markets for a loop today particularly on the wholesale price front where we see prices at the level just before it gets to us, running at about a 9.6% annual clip, the core rate isn't a whole heck of a lot better running at close to 7% clip, that x's out the volatile food and energy prices, but it's not so easy for us to x those out is it so that is a big worry. omicron cases that are spreading like wildfire across europe aren't helping matters any, as well as the report of the first death linked to this virus variant in great britain, and some crackdown in security measures restrictions being put in place, not only all over europe but in some states that are now re- imposing mask requirements and the like so a lot to get into there, meanwhile focusing on washington, and senate move to at least approve what the house did to keep

government lights on and to raise the debt ceiling and in the middle of that advance build back better, which is looking like it, it is not looking better let's go to hillary vaughn with that on capitol hill hillary? reporter: hi, neil. what republicans think it's only fair to assume these programs and president biden's build back better bill are going to be around forever, and if you take that into consideration, the cbo says the true price of it all is closer to $5 trillion, and republicans think democrats should have to come up with the cash now, not later. >> cbo score, it is a fake score, about a bill that doesn't exist. the president has conveyed very clearly, multiple times publicly , that he would like programs to be paid for. reporter: but the federal government doesn't have the cash to cover all its expenses today, much less if these programs are put in place. in october and november, the government brought in 565 billion in tax revenue but

spent over 900 billion which means they're about $350 billion short of the money they need, but democrats today announced they will raise the debt limit by another $2.5 trillion so i had a chance to talk with senator elizabeth warren about this rising debt that is facing future generations. >> how high do you think the debt needs to get before it's time to cut government spending or freeze any new government spending. >> i think you look at this the wrong way. when we have a growing debt load , it's because the revenues coming in don't match the expenditures, so yeah, we have a debt problem but we have a debt problem partly, because the very richest people just aren't paying. reporter: but, neil, when you look at the money that the very richest people in the u.s. are making in march, their net worth of u.s. billionaires is about $4 trillion total so putting taxes aside if you confiscated

all of their worth it still would not cover the amount that the u.s. owes on their national debt today by about $20 trillion neil? neil: and we had a debt problem when, you know, tax rates were a hell of a lot higher than they are now so it seems to follow us no matter what the tax man is charging to live in this country hillary vaughn, thank you very very much. want to go to doug class, the former congressional budget office director. doug, where are we on this whole debt ceiling, it looks like it's going to happen for one thing, but it's always the same theatre and the pressure getting it done there's gotta be a better way. >> yeah, there has to be a better way. those who want to keep this approach argue that by having to raise the debt ceiling periodically it reminds the congress that we have a debt problem and they will get serious about fixing it. there's no real evidence that's true, so you know, we're

incurring the potential financial fallout of breaching the debt limit without getting a fixed spending program, we're contemplating more of them, so this isn't really working, neil. neil: now, the cbo is tentatively seen as a standard for approving or scoring whatever legislation republicans or democrats are working on up until this latest read on spending, democrats had supported whatever the cbo were to come out with and then all of a sudden, the cbo takes a look at this , under the possibility that this is not the $3 trillion price tag that's championed or 2 trillion, more like close to 5 trillion and that was really ripped apart by the administration, as was when the cbo said that this is going to cost, you know, almost $700 billion more in lost revenues over the next 10 years. they didn't like that either so i'm just wondering, you could pick and choose when you rely on

the cbo but it is what it is, isn't it? >> yeah, it is what it is. they took the build back better act at face value and said look it's not paid for , short by $367 billion. then they were asked to look at it, if all the programs were permanent and they said nope, short by another $3 trillion. they're just answering the questions that congress is asking and the administration really is trying to have it both ways. it wants to tell us that these programs are so good and so important, that they're going to raise labor forces, expand the supply side of the economy, and ease inflationary pressures, but they do that even if they go away, no. they have to be permanent for that to happen and if they are permanent then they cost 3 trillion more. neil: the president is saying this will be paid for , it is paid for , there was a philosophical difference over the roughly 400 billion in revenue that you alluded to. this is an entirely different matter, jen psaki just criticiz ed, i think, that is the cbo for going way beyond

the established cost of the package, but if the president were to make good on its plan every year, we make sure this is paid for , taxes would go up, or the spending component of it would have to come down, or both, but what happens in that event? >> well, the cbo simply answered a question that was asked by the ranking members of the houses and budget committees there's nothing fake about that, and the policy, the administration has in place, is to have these programs. they need another $3 trillion in pay for somewhere over the next decade to keep them. that means three times the tax increases they already have, or year after year they cut $300 billion out of spending so you tell m ewhich of those is most likely to happen. i don't know, but all cbo did was highlight the fact this was a big hole in the plan the administration has. neil: and one of the reasons why joe manchin is a little reluctant right now to commit to this , douglas, very good seeing

you again, thank you. i want to go right now to another battle brewing certainly among progressives, very concerned that student loan relief that had been paused and now set to go back again is concerning some that it's going to leave students with some very very big bills. what's the latest on that front? reporter: so, right now, the white house is moving forward with these payments to resume on february 1 but progressives are basically sound ing the alarm saying look, if these payments resume, then these people will not be able to spend money in the real-world, and this would hurt economic recovery, of course critics say not so fast. this is eventually going to hurt people like you and me, the taxpayer, so here's what's happening and here's whose behind it. progressives like senators chuck schumer, elizabeth warren just sent a hyperimmune globulin to the white house and they are asking the president to take

action on student debt, with the flick of his pen, so executive action. they're using data from the roosevelt institute to essentially argue that resuming these payments would strip more than $85 billion from about 18 million american families over just the next year. they say that would undermine the impact of the american rescue plan, and it would hurt the country's economic recovery. now, critics say, canceling student debt comes at a cost, according to the brookings institution it would cost taxpayers at least $1 trillion to eliminate $50,000 in student loan debt for each person. here is senator warren. >> cancel that student loan debt, $50,000 of it, and get those young people a real boost in their lives. we continue to talk about it. reporter: they continue to talk about it, but as i mentioned, for now, the white house is preparing for those payments to resume.

now, if the president, neil, does take this executive action he's likely to face some legal challenges with this and you'll remember press secretary jen psaki has previously thrown this one back at congress. >> congress wanted to send the president a bill to cancel $10,000 in student debt he'd happily sign it. reporter: so the white house originally said that they would release a formal memo containing their legal opinion on this , we just haven't seen that on the radar yet. neil? neil: i'm just curious, those who have been paying their student debt, or chipping away at it, themselves or their parents, how do they feel about this? >> well that is the argument out there. a lot of folks, like, you know, myself and others, my brother and sister have paid off these student loan debts and continue to do that and they say well what about us? we've done it the right way. why do all these other people get to get away with this so that is the argument that's happening across america right

now, but progressives say look, this would eventually hurt economic recovery if people don't have that cash to spend in the marketplace, it's just going to hurt us in the long run. neil: see you and your brothers should have waited this out and shouldn't have been so responsible. >> i've heard a lot of people say that. neil: thank you very very much on all of that. in the meantime here, we're watching another washington development that is the federal reserve kicking off a two-day meeting. this is the one where they do expect jerome powell & company to finally put the actual actions after the tough talk on inflation and speed up either of the buying of those treasury notes and securities that they've been scarfing up for the better part of a decade and maybe signal when they will start raising interest rates, hal lambert is the founder and ceo of capital bridge. what do you think we hear tomorrow? >> well i think we're going to hear a change in tone but the federal reserve about was passed in 1977 by congress and

it was said to acute the dual mandate which is maximum employment and stable prices and stable prices have gone completely off the rails under powell and this is very obvious you can blame it on oil companies or blame it on the supply chain, but it was very obvious, six or seven months ago and all we heard from powell was transitory, transitory, transitory and why did we hear that? because he wanted to keep his job at the fed and he knew if he hinted at raising rates biden was going to replace him so here we are six, seven months later and now powell has gotta change his tune but its gotten away from him so he's going to start talking about raising interest rates even faster than he was, but in the meantime, we've all been hurt with higher prices, and let me predict something. the mainstream media is about to turn on powell and so is this administration. they've gotta blame somebody for the high inflation, they've tried to blame oil companies, they tried to blame the supply chain, and it hasn't worked. i think they are going to turn their fire on powell and powell will have a very difficult 2022 because they're going to

all go after him. neil: well, let's say he does what the federal reserve chairman would do to address this so that is you stop, you know, buying so many treasury mortgage back securities all that stuff, maybe even speed up that process, and you start raising rates. both are not going to be welcome developments no matter how the markets might be prepared for them, so what do you think? >> i think we could have some sell-off around it, although the reality is inflation is now at a point where you can't hold cash, so there could be some sell-off and risk assets but at the end of the day, you're not going to do yourself any favors sitting around, basically, we had almost 10% ppi, which is passed through to consumers down the road so we're looking at eight, nine, 10% potential inflation, if you're sitting in cash, you're losing big time. neil: all right you're referring to the wholesale inflation report for the month of november , running on an annualized 9.6% clip and yet as we look at a 10 year, 30 year

treasuries, very tiny backup in rates still ridiculously low, what is going on with that, you'd think, hal, the flip side might be that they see maybe a little more inflation but they also see a slow down. what do you think? >> well it could be signaling a slow down, although the fed is still in the market buying treasuries, so we don't know how much manipulation of that 10 year is happening but we need to see the 10 year higher, i agree. i think if we can actually see that higher that be helpful because people would feel like okay the economy is going to continue to move forward but if we stay at these levels and the fed is out of the market, then you're going to be seeing people really worried that that is signaling a major slow down and that's when you run into, you know, we don't want to ever hear the word stagflation but that's when you run into that when you have no growth and you have inflation, you have stagflation and that's the worst of all world's. neil: you're giving away our age here, my friend, so be careful with that, but yeah, you're right. we turned to stagflation let's see what happens, hal lambert,

the point bridge capital founder and ceo one of the things they worry about the process is ready to rollout tomorrow when the federal reserve wraps up its two-day meeting and some of the things that hal just outlin ed do seem to be in the off. we'll know officially tomorrow. we also know about mask requirements that are going into effect all across the country, but mandating them? after this. >> ♪ i've got the eye of the tiger, the fire dancing through the fire because i am the champion ♪

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oh, no! seriously? hmm! it's not the same if she's not here. oh. -what the. 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 >> you kind of get that feeling, you know, where another curve ball thrown at you. like we did it for like a whole year, i'm kind of over it. >> they're punishing everyone that got the vaccine because they are making mask mandate, whoever is not getting vaccinated by now will not get vaccinated. neil: all right, between vaccine mandates, mask mandates so many mandates so little time, david lee miller following it all in new york city. david lee? reporter: neil, starting today, some very young kids here in new york city are going to have to

get carded. those between the ages of 5-11 must show that they have been vaccinated in order to eat in restaurants and enter into a theatre or take part in many indoor activities, although older kids must face those requirements. critics say tourists especially those from overseas might not have the required vaccination documentation for children. only yesterday a state-wide mandate went into effect requiring all businesses in the state to either make sure all customers and employees are vaccinated or require the use of masks indoors, violators face fines and criminal charges, enforcement is up to local officials. some say they will not comply including the incoming county executive for nassau county, which is just outside of new york city. >> business people and homeowners who are very upset about this mandate because it doesn't make any sense. we're in a situation here where luckily with our health department and our healthcare

professionals, we have the virus under control right now. reporter: most of the states county executives opposing the mandate are republicans, governor hochul, a democrat is not backing down. >> i'm not going to engage in a political discussion about this , because this is just too important. this is about getting us through this pandemic, so we can finally say to everybody, you know longer have to wear a mask, period. reporter: hochul statewide mandate will expire on january 15 at which time she will decide if any further action is required. on december 27, new york's outgoing mayor, bill deblasio, plans to implement the toughest covid mandate in the entire country, all on-site workers in the city including those in the private sector, must be inoculated with at least one shot of the vaccine. the mandate proposed by the mayor would affect roughly 184,000 businesses in new york

city, details are few, we expect you'll learn more about this plans sometime tomorrow. neil? neil: and whether his successor eric adams even supports it, right? >> i'm sorry? neil: whether eric adams, his successor, even supports it, right? >> that's right. deblasio is doing this only days left in his administration, but he has come out and he has said he supports the mandate that has been proposed now in effect by new york governor hochul. neil: thank you my friend very very much david lee miller in new york city so it's one thing to have a mask mandate, for example, but then the issue of enforcing it and republican county executives across the state said they aren't going to enforce any of this for the time being including my next guest, ed day, he's "the rock"land county executive, ed good to have you. so i've got enough to handle without now being the mask police, right? >> i heard the governor speak,

this is not about politics. this is about a return to the failed play book of a predecessor and someone 120 miles north of rockland county taking action without even asking rockland, the county executives in the mid -hudson region if it makes sense and by taking that action would have completely or significantly preempted our ability to do exactly what we've been told needs to be done, get vaccines into the arms of people. we've been very successful doing that but if you take my people off the vaccination line and supports clinics and have them walking around rockland county trying to figure out whose wearing a mask or not it is not a good use of resources and frankly makes no sense. neil: you know, another thing i was starting to look at is that why this is even necessary now. in new york city, adult vaccination rate is running at about 90%, across the state running at north of 93%, so

given the fact that the positive rate in new york city is less than 2.8% and the positive rate across the entire state is about 4.6% you do then, i'm throwing a lot of numbers at you and our viewers, you do then have to start wondering why now, why this now? >> you know, i can't answer to that. a city is frankly being destroyed by the current mayor there's no other way of putting it. some of these rules are just absurd especially with 5-year-old children in the middle of the holiday season without any warning it's just not right but here in rockland look once we got out of the thumb of the former governor we started rocking and rolling here in rockland county getting things done, the 18-plus and 95% for 65-plus, our hospital number s are down, and we monitor this everyday, so when the time comes that we need to take action we will but the fact of the matter is they are using a

predictable excuse to make the decision because everybody paying attention knows exactly when there will be up-ticks in this virus because frankly the major core of the problem is living room spread, with over 70 % of contact tracing efforts showing that that's where the infections are occurring. neil: we'll watch closely, ed day, rockland county executive, we put out our calls to the governor' office and they are not returned. all right in the meantime here the dow down about 156 points, we're following developments half a world away having nothing to do with omicron or the virus and everything to do with russia , proposing to do something that caught nato off guard, after this.

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neil: all right, you already know about the g-7 and the threat right now against vladimir putin going all the way to the president of the united

states, that any invasion of the ukraine will be met with serious sanctions, potentially worse, then along comes putin to respond saying he could be deploying intermediate range nuclear missiles, having nothing to do with ukraine, but responding to what he says is similar plans on the part of nato. again, that whole line, one side seems to be playing checkers, the other chess, but which side? greg palkot with more on this , in london. greg? reporter: a lot of gameplaying, neil, in fact there is more rattling from russian president vladimir putin in a call with uk prime minister boris johnson he demanded a secure, clear, international legal agreement that nato will not expand east ward into ukraine and the former state of georgia, and echoing president biden, in a video meeting last week putin called for the removal of all offensive nato weapons deployed near russia's border, both basically rejected this tough talk the reason build up of

russian troops near ukraine as you mentioned estimated around 100,000 key u.s. allie and johnson told putin an invasion of ukraine be a strategic mistake that would have serious consequences and yes, putin, for his part, said it's ukraine doing this but its forces are committing genocide in the eastern part of the country where there was a russian speaking majority where russia backed separate since 2014 and yes finally, putin is not stopping there claiming that nato is planning to deploy intermediate nuclear missiles aimed at russia in eastern europe, nato emphatically denies that, but now, putin is threatening to put his own nukes in place and the question now, neil, is what does president biden do, even discussing listening to discussions with vladimir putin about his concerns, about nato, has led some critics to claim that there is a combination, comparing this time to 1938 when britain appeased hitler, and it

led to world war ii, let's hope we're not looking at world war i ii. neil: greg palkot thank you very much my friend, following these developments in london. peter brooks with us the retired naval commander, profound read of all international events, heritage foundation. peter, i couldn't figure this one out. i'm wondering if it's just sort of like a zig when we're dragging and that putin comes back to say that these intermediate missiles, and the conversation departs from ukraine. what do you think? >> well, look. putin is trying to, you know, use blackmail to get us to come to the table to agree to things we really can't agree to. we can't have a veto on u.s. and nato security by saying we can never expand again in nato, so he doesn't want to fight, neil. he does not want to fight but he's trying to raise the temperature as high as he

can without crossing that line into committing forces, into ukraine, to get us to come to the table and aqueous. he doesn't want to fight, and so i think this is just the latest because we had not given in on the major troop buildup of 100,000 troops as greg just mentioned on the border so now he's raising the temperature once again, tightening the screw s once again, with this threat of deploying nuclear theatre nuclear weapons in russia that would threaten nato. neil: we have some audio difficulty. i hope we work through them, peter but one of the things you said that caught me, it could be a head thing, he could be saying this gets the pressure off me, it's a faith-saving way to not invade ukraine under this auspice of my not making good on intermediate missiles in the european theatre, but i never had any intention of doing that in the first place. >> right, well life is a

negotiation, right and that includes foreign policy as well, so yes, once again, there's a lot of tactics and strategy going on here on both sides. i think we have to be careful, neil, not to give in, not to collapse, because we potentially could put ourselves in a position of a moral hazard where we give in now will only bring more of the same bad behavior in the future. i think at some point when russia takes certain steps that maybe nato, russian council meeting that is called for that would include the united states and nato members to discuss things, i mean, we are not a threat to russia. there's no question about that. this is all propaganda and there are a lot of things that need to be discussed and diplomacy could be the first step, but giving into this will only bring more bad behavior from moscow. neil: but there is the issue of those hundred thousand troops let's say they never invade any drawback of those troops will look like a moment for him, right, that he had with john

kennedy, that he doesn't want, so how does this sort of ease up >> well, i mean, once again, we need to give him an off ramp, right? you need to be firm, you need to be strong, negotiate from a position of strength but give him an off ramp so maybe at some point down the future we talk about a nato-russia council meeting and he could say well, in the spirit of negotiations and in the spirit of talks, you know, the year-end holidays, i'm going to send the troops home, and he can certainly do that. the russians are masters of propaganda, and they can certainly come up with a way to say that it was important to send [inaudible] there are lots of ways out of this and once again i think this is just on the part, at least i hope so. neil: i hear you. we have to manage that. neil: i hope so as well peter thank you very much my friend, peter brooks hope you have a very merry christmas, the

retired naval commander, served his country so incredibly honorably, now doing the same sharing his wisdom at the heritage foundation. we've still got a sell-off happening at the corner of wall and broad particularly for technology stocks, really particularly for the nasdaq, that houses a lot of them at 286 points, we'll be exploring that right now, and what's happening to once-treasured meme stocks that are now getting massacred, after this. >> ♪ higher and higher, baby! ♪

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as an independent financial advisor, get 1.9% apr financing on the 2022 es 350. i stand by these promises: i promise to be a careful steward of the things that matter to you most. i promise to bring you advice that fits your values. i promise our relationship will be one of trust and transparency. as a fiduciary, i promise to put your interests first, always. charles schwab is proud to support the independent financial advisors who are passionately dedicated to helping people achieve their financial goals. visit findyourindependentadvisor.com neil: all right, not a good day for stocks, virtually all of the sectors are feeling the pinch today seeing a little bit popping in some of the drug and the biotech stocks, but save

that. its been a tough day it's well in the nasdaq right now where technology stocks are taking it on the chin, and even some of these meme stocks coming back at least getting a little bit more attention, charlie gasparino has been on this whole meme story from the very very beginning, amc first and foremost there, what do you have , my friend? charlie: that's an interesting chart. it's up a little bit today, after amc has been down like over 65% or something like that neil: it's getting to be like bitcoin. charlie: since it hit a 52 week high a couple months ago i will say this. if you look at the way these are trading now, the highs are lower than they have been in the past, when they bounce up, and it's usually on this retail buying, they all get together on the chat rooms and say oh, we've gotta buy the stock, because we have to screw the hedges and short squeeze coming, so you've got a couple people, you get people bouncing in but the highs is still not as high as they were in the past.

the jump is not as high as it was in the past. the lows used to be, the lows are a lot lower than they were in past. the downdrafts are a lot more violent as we had yesterday, amc was down 15%. neil: what does that mean? charlie: first off i don't think there's a lot of hedges in this , it's allie to pump up the to be. neil: you always hear the short squeeze is there more one side versus the other? charlie: here is the thing first off there's not a short squeeze in the stock because a lot of hedge funds aren't short the stock, there maybe a few, but also, it's easily borrowed so if you wanted to borrow it, this stock is out there, to borrow, which it's very low chance of a short squeeze, but i think what you're seeing now is the trade running its course. that doesn't mean it's fully done, it could bounce to 30 tomorrow, i have no idea, but you could see it running its course and what's causing it to run its course? i think there's something here with the variant. people are afraid to go to the

office. i think -- neil: or to theaters. charlie: sorry. neil: you never go to theaters right? charlie: rarely. if you compare even the best days they've had this year with the vaccines out there and everything, amc, it's still not as good as pre-pandemic so there's clearly a secular decline. neil: depends on the movie right into charlie: no, no, overall. neil: you aren't going to watch the spiderman one? charlie: i might, but still, it's still not as good. neil: you don't strike me as a spiderman watching guy. charlie: i wish they would do godfather iv. i'll go see that. so, again, if you compare the metrics to 2019, still not as good, so clearly, streaming is taken away and it's the fed, neil. we can't emphasize this more to our viewers, is the one real existential threat the stocks going forward especially these bubbled stocks, the meme stocks, amc, gme, bitcoin, crypto, is if

the fed has to get aggressive on tightening, not just the taper, that's nothing if they have to go in there and do what maybe larry somers is suggesting, go in there and get inflation down before it becomes really bad. neil: the latest rumor is that the first be a half point hike, or whatever comes something sooner than thought. charlie: here's why because if they wait and miss the inflation target, or they miss the inflation boat, then guess what happens? they have to cause a recession. you don't want to cause a recession. neil: they always try to avoid that but you're right, it ends up in something like that. charlie: if you play with this fire of inflation, if wages keep going up 3%, i think that's what they are going up now but inflation keeps going up 6%, that's a pay cut? neil: but i think the national average wage is 4.8% clip but look at wholesale inflation, 9.6

% the retail inflation, little north of 7% so you're losing what you're gaining. charlie: so you have to go in there and do that and the first stocks that will get hit with this rate increase are clearly, those that people bought as they pushed out on the spectrum because fixed income assets and other assets just didn't provide the bang for the buck with low interest rates so that's where we are. i'd just keep watching that. neil: would you avoid the memes knowing that they can be manipulated like this? of course everything can be. neil: the real chan in you legislation, yes i would avoid, here is the real manipulation. it's not the hedge fund guys, it's not kenny g, the amc apes, kenny griffin is manipulating the stock through a short squeeze. neil: well that's how it got that saying we're a being tariff ing the big boys. charlie: but it's all bologna, it's on message boards where people keep saying and i don't know if they believe it or not but it's clearly manipulation that this stock is ready for going ready to go to the moon,

because there's a short squeeze coming, and they call it a moas, mother of all short squeezes. neil: i see what you did there. charlie: it ain't happening. neil: so this isn't you just hating theatre stocks. charlie: no i love the ceo's a great guy. neil: or have you tried their caramel corn? charlie: it's delicious. the ceo, adam aron, showed pictures of how they go out and get the popcorn, they go to like real corn. neil: it's delicious. charlie: that they pop. neil: each theatre comes with its own little field. charlie: it's really good stuff and he's a smart ceo pulling out all of the stops to get this going, managing it. charlie: he's selling his stock and warning the retail that the company is over-valued. remember that. neil: that's an elon musk move there. charlie thank you very very much charlie: how much popcorn do you eat when you go to one of those things? neil: i close it out. you know, the thing they get it from?

i take that. charlie: [laughter] oh, so the popcorn maker? neil: yes. get over here, all right, charlie gasparino, thank you very very much. by the way, you see these smash-and-grab burglaries going on what if i told you they are coordinated and planned online before they get to this? after this. 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.

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neil: looks like what if i told you these smash-and-grabs you've been seeing all over the country are actually planned online? this is in california, how do you explain this to me. reporter: well, neil, perhaps it's no surprise that technology that enables us to communicate through text messages or social media apps is also being used by these criminals, not just to plan these brazen smash-and-grab robberies, but to teach rookies how to get into the game and pull it off. investigators say organized retail crime rings use messaging apps to setup private group chat

s and round up 100 thieves at a time. law enforcement sources tell the wall street journal that recent hits at a bay area nordstroms, the louis vuitton store, and a best buy appear to be organized on snapchat where messages are capable of disappearing. thieves use what's app, telegram and signal which provide encrypted platforms and the online message board tumblr have communities just for shop liter shoplifters. >> what they will do is not only tell people where cameras are at the stores but they also will teach them on how to do it. somebody will say i'm a newbie how do i do that and people come out and say this is what you need to do and also it's another way of reaching out to a large group of people saying hey, we want to hit this particular center, let's go. reporter: investigators say suspects often don't know who else is involved, but they communicate with each other using keywords like #fivefinger

discount to describe what they stole, where they stole from, or even get feedback on how well they did. messaging sites and third party platforms like amazon marketplace where sellers can remain anonymous and neil, all of these sites are really coming under intense scrutiny now as police try to crackdown on organized retail theft that is costing american retailers upwards of $70 billion a year. back to you. neil: amazing, claudia thank you very good report, guy lewis here the former u.s. attorney. guy, we're going to get to snapchat statement on this , or a spokesperson but collectively , these guys have been saying we don't know anything about this , if we saw it we'd do something about it, but what be their culpability if this was happening unbeknownst to them on their very site.

hi, neil, merry christmas. there's no question it's becoming more and more organized and frankly more and more dangerous. look, when you have defund the police, when you have no d. a.'s that won't ask for bail, when we know that some of these organized criminals hit a place in chicago and other places, they get arrested even if they get arrested they are out the next day. there is no disincentive at this point between police prosecutors and the justice system. it's a mess right now, and there's nothing in the future that looks better for me. neil: from snapchat we're hear ing nothing to see either, this type of activity is a clear violation of our guidelines in terms of service but it occurs our teams take swift action to enforce against it and in this case, we've looked into these reports, haven't yet found evidence of it happening, on

snapchat, but i would imagine it be a difficult thing to trace, or would it? >> well it is difficult in as much as look, the snapchat and the electronic media, they facilitate it. there's no question that it's being organized through that, but that in and of itself even makes it more dangerous. at the know, look, the one in chicago where they hit the high end car place and stole a million-plus dollars in watches, they were in and out of there, they had guns. these aren't criminals, neil, that just do it once or twice and go to the next one. they are repetitive and they've been in and out of the system and frankly they are some of the most dangerous that we have. neil: guy this reminds me since you're a very accomplished attorney besides playing that role certainly at the federal level, i'm curious what is the

responsibility of the retail stores themselves. as you know the mayor of chicago is among those saying, you know, they're to blame for a lot of the spike in violence because they aren't doing anything about it. legally does she even have a case there? >> shame on the policy makers. neil, shame on the politicians. they see chicago right now leads the nation in the murder rate. across the country, we're higher know you than we've been in 30 years, and that's murders and it gets worse in terms of violent crime and these are real people whose real lives are affected and when you go in there, neil, and tell a business, hey, it's your fault, it's your fault for not having security there, come on. i mean, that's pathetic in my view. neil: you got it. i think i know where you're coming from there, guy lewis, great seeing you have a merry christmas, my friend, guy lewis the former u.s. attorney, i can always understand when guy

explains the law to me because he speaks english. everyone gives you these acronyms and i'm lost, which is easy to happen. we'll have more, after this. . .

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ask your doctor it starts with a mother's determination to treat her baby's eczema. and grows into a family business that helps thousands more. it starts with an army vet's dream of studying the stars. and grows into a new career as an astrophysicist. it starts with an engineer's desire to start over. and grows into an award-winning restaurant that creates local jobs. they learned how on youtube. what will you learn? ♪. neil: all right, we're getting word from cathie wood whose ark funds a family of funds have been of course stellar performers until this year. her premier fund i think it is

down about 20% year-to-date. there has been just a chill on technology investing. of course it is playing out again today. she is saying right now though that the supply chain juggernaut, the problems around that will continue. that has been a hiccup not only for funds but for the companies behind them. that inflation is not the worry as much as deflation is the worry for the markets. her view. now to charles payne. charles. charles: neil, thank you very much and good afternoon, everyone, i'm charles payne. this is "making money." breaking right now, all that mounting internal damage i've been talking about for weeks you can see it bubbled up to the surface and now it is gobbling some of the biggest names in the market that of course is bad news. many stock, i'm talking about a lot of them, you heard about cathie wood are oversold. that is good news. pain is not easy. so during the show we'll discuss long-term investing success. that is what it is all about. get ready for advice you can