todd, thank you for joining us this hour. very good. surprise in the mail. that's true. you will be watching, everyone is watching usual "fox & friends first" every weekday, 4:00 a.m. eastern. set your alarm clock. he is worth it on the fox news channel. our time is up. david asman in for neil cavuto. take it away. david: ashley, thank you very much. welcome to "cavuto: coast to coast." i'm david asman in for neil cavuto. the santa rally is here. the best start to the santa claus rally in 20 years. already lifting the s&p 500 to an all-time high today. it is on track for its third straight record close. our market experts are here with what you need to know for 2022. plus we have former republican louisiana governor, presidential candidate, bobby jindal and former trump omb director russ vought.

i will ask them about a hidden tax you might not see coming but businesses better watch out. first to our top story today, the u.s. reporting a record breaking amount of new covid cases, over half a million and president biden appears to be telling the nation's governors the fight against covid is in their hand, not the federal government's. fox news correspondent rich edson is in rehobeth beach, delaware. good afternoon, rich. reporter: david this is president biden's first full day this week at delaware shore in rehobeth. the president met yesterday before leaving the white house virtually with a number of governors. one of the things he said this is primarily a state fight here. the federal government is there to assist, how we framed it all. they're was a bipartisan group of governors in the meeting where he pushed unvaccinated americans to get their shots, stay out of the hospital. that is also the message from

dr. anthony fauci who had to clarify last night whether the administration is considering a vaccine mandate for domestic air travel. >> i did not say i support mandates on domestic flights. i said that is something that is on the table for consideration. i didn't say i support it or didn't support it. i was asked, is this something that is being considered? we consider any option that could keep the american public safe. reporter: president biden has said his administration is expanding testing though a report from "vanity fair" claims that the white house rejected a plan from public health officials to boost free rapid tests ahead of the holiday season. as he left washington for delaware yesterday the president denied that report. >> president biden, why did your administration reject a holiday testing surge in october? does the buck stop with you there --

>> we didn't reject it. reporter: the biden administration announced last week it is buying 500 million at-home tests free for americans that order one online, though the website isn't up and the tests likely won't go out until next month, well after the holidays. other countries pushed free at-home testing as major piece of their covid strategies. the white house press secretary earlier this month dismissed that concept. the president said last week that he wishes his administration had moved forward on testing like this a couple of months ago. david? david: a lot of people do. good to see you rich edson, thank you very much the holiday travel nightmare is not letting up. hundreds of more flights canceled today on top of thousands grounded since christmas eve. mike tobin live at chicago's very busy o'hare airport. mike. reporter: david, airlines at times like this try to go dynamic to solve the problems.

one industry spokesman told me they will start moving people around to cover the holes in the staffing line-up. they have the advantage of using planes to do that. so things are not really back to normal or business as usual but one spokesman tells me they're hoping they're making a step in that direction. you see the tsa line behind me here at o'hare international airport. frankly that does look like business as usual. in terms of backups at o'hare this is nothing. if you look to check-in at american airlines, you can see the ability to close part of the check-in and consolidate everything as things start to get back to normal to some extent. this particular backup started about christmas eve, when the omicron infections of staff mirrored the general population and spike. a number of people called in sick, they had problems with the staffing so much so they had to cancel with flights. combine that with bad weather yesterday. a lot of people got the news

they were not making it to the holiday or were not making it home. >> we've been really lucky. we were on time leaving and we were so far on time going home. >> i had originally a five-hour layover which turned into 11 hour layover. then the flight got can sell, today to try to get another one out today. what can you do. youyou have to roll with the punches i guess. i feel the staff people because they're getting so much grief. reporter: flightaware.com says the numbers are improving. 1200 cancellations with domestic flights. that is less than 800 today. if you look at flightaware's misery map, the red represents cancellations and delays. it is pretty evenly spread across the nation with the exception of seattle, tacoma. they have got bad weather there. so you have a lot of flights getting canceled. southwest airlines for one indicated all the cancellations are due to weather not necessarily because of the

staffing problems you have out there. one thing that could really impact the staffing for the airlines is that industry representatives went to the cdc, give us a break. cut down the amount of isolation if you have a positive covid case and the cdc did just that yesterday, cutting in half the quarantine time for positive cases if that person is asymptomatic. so cutting it from five, from 10 to five days and we'll see what that does in terms of getting people back to work, getting more planes in the air. david. david: we still have something called a misery map. i think that says volumes about where we are in this country right now. mike tobin, great to see you, thank you very much. president biden says covid needs to be solved at the state level and there is no federal solution. listen. >> look, there is no federal solution. this gets solved at the state level. i'm looking to governor sununu on the board here, he talks about that a lot. it ultimately gets down to where the rubber meets the road. david: joining us former

louisiana governor, former 2016 presidential candidate bobby jindal. great to see you. thanks for being here. merry christmas to you. it begs the question, bobby, if this is going to be solved on the state level, why do we need federal mandates? >> great question, david. merry christmas, thank you for having me. we have seen joe biden try to be a centrist democrat. we've seen him try to be a socialist bernie sanders type democrat. yesterday he became a federalist conservative democrat. it is amazing. every couple days he changes his positions. obviously i think he is right that the federal government shouldn't micromanage it. if he was really sincere he would repeal the osha mandate, he would repeal the health care mandate litigated in front of the supreme court in january but it goes bigger than this. he really doesn't really understand federalism. a little over a year ago during the presidential campaign one of his main lines of attack against

president trump, president trump doesn't have a prann to end the keefe individual crisis. he campaigned that he did on political incompetence. more people have died under his first year of covid than trump's last year. he doesn't understand the way federalism works. "operation warp speed" under president trump sped up development of vaccines and funded vaccines even while fda was approving them. biden did not do that with rapid tests, has not done that with the curse. approved covid and merck's curse we will not have enough treatments when january comes around, certainly will have enough tests. they should repeal the mandates. there is role for federal government to undo regulatory barriers to approve tests available in europe. joe biden doesn't get it. david: the other thing he doesn't seem to get is what works and what doesn't work. a lot of americans don't believe by the way the bbb plan would actually lower inflation, if you

spend trillions more would probably increase inflation but the vaccine mandates didn't lead to an acceleration of people getting vaccines. it led to a deceleration. i mean in other words, fewer people in numbers were getting vaccines after the mandates. so he uses policies that don't achieve the ends that he is -- >> well, david, look, they just don't trust the american people. you remember that the hillary clinton called us deplorables. obama said we're ink clinging to our guns and religion. bette midler belittled everybody in west virginia, called them ignorant and backwards. the left want to rule us. they don't respect us. they don't like us. they don't trust the american people to have the information, make the decisions for themselves. you saw this with the cdc arguments about quarantines. the reason they changed that, they're not following the science. they simply saw airlines were not able to function. they saw health care facilities were not able to function. that is what happens when you try to micromanage the american

people from washington, d.c. you either trust and respect the american people to make their decisions or they don't and they don't. david: with the vaccine mandates, inincreased the labor shortage. we already have a critical labor shortage. in one state alone, new york state lost 30,000 health care workers, 8,000 working specifically in hospitals that now have staff shortage. they're having negative consequences all over the place. >> no, look, you're exactly right. in california they tried, in los angeles they tried forstmann dates in schools before vaccines were approved. they backed off with tens of thousands of students, minority students were not going to inschool instruction. this is what happens when you try to micromanage. when joe biden yesterday said the federal government couldn't solve this, i wish he had come to the logical conclusion that means they should repeal these one size fits all federal mandates. they're not constitutional. they're not effective as you noted this is not how you

persuade people by the way. they say they persuade people through science and information. you don't persuade people calling them names, he deserve to go to the hospital. david: it was insulting. the language was insulting. mandates themselves are felt to be insulting by a lot of americans. i want to switch to the economy if i could. you mentioned warp speed. warp speed succeeded in getting the vaccines specifically because of the fact that they deregulated, the trump administration deregulated the process by which these pharmaceutical companies got the vaccines so quickly. we are going in exactly the opposite direction in terms of the regulatory process, not only in terms of thing arelations against fossil fuels, for example, also in terms of regulators putting in, installing regulators who have something against them, against the whole process of a free market system. you had omarosa as prime example of that, somebody who wanted to socialize our capitalist civil.

>> look, you're exactly right. you go back to precovid we had one of the best economies in decades under president trump. yes it was because they cut taxes but also they were cutting regulations. you saw wages go up for blue-collar americans, for working americans, unlike previous economic booms in this country in recent years where the rich did well by many working and many americans didn't do as well. we had widespread economic growth. wages going up across the board. almost record low unemployment. we had the stock market doing well. taxes were cut, regulations were also cut. now biden is reversing that. now he is proposing some of the country's biggest tax increases. because he can't get everything done through congress, you're exactly right, david, the appointees are strangling the energy economy. they will strangle the rest of the economy with one size fits all with these ridiculous regulations but unfortunately doesn't get the attention taxes do because they do as much damage to the economy. david: very quickly, omarosa pulled her name out of the

system as nominee for comptroller of the currency. that is a position that controls capital in this country. controls he have bank in america. do you have any hope that her replacement, the next nominee will be any less favorable to capitalism than she was? >> david, no, look, i'm not optimistic. the reason i'm not optimistic biden seems to be making elizabeth warren happy, seems to make bernie sanders happy with the appointees. he promised he would be a moderate, competent democrat. he was nominated because he was not bernie sanders but he is ruling as if bernie sanders had won. he is given the keys of the white house to bernie sanders, war was, you can see it in his appointments. they're more radical than we feared. we're not optimistic. i hope the senate will do his job, stand up not to confirm some of these appointees. david: frankly, governor, when you hear omarosa's plans to regulate all banks in america. that is farther than elizabeth

warren or bernie sanders go. that is marxism. socializing the source of capital in the united states. i never thought i would see it here in america. we have to leave it at that good to see you. have a wonderful new year, governor, appreciate it. >> you as well. david: thank you very much. we'll be right back but hoping that prices are going down at the grocery store, it may not happen in the new year. we'll give you an indication where inflation is going coming up. ♪. flexshares etfs are built with advanced modeling. to fill portfolio gaps and target specific goals. strengthening client confidence in you. before investing consider the fund's investment objectives, risks, charges and expenses. go to flexshares.com

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david: so if you think your grocery bills are high now, wait until next month. new estimates showing food prices could surge at least another 5% in the first half of 2022. gerri willis has that story. gerri. reporter: hey there, david, you got that exactly right. here come the higher prices. after a year of budget busting inflation and everything from meat to gas, experts say 2022 will bring more of the same. food prices as you say overall going up as much as 5% in the first half. let's dig into that.

mondelese international already said the cookies, candies, other products will rise 6 to 7%. uh-oh oreo. kraft heinz will raise prices across the board, some as high as 20%. 2, 0. general milks, campbell's soup raising prices next month. those are some of the best-known names in the country. heavy products like wine, beer, liquor, potatoes, even celery, will carry higher prices as higher labor costs will push the cost of transport up. even staples like mayo, freezen meals will be higher. supermarkets operating on super narrow margins try to hold the down holding down increases on eggs and milk and specialty items but not here how long that strategy can hold. consumers are in a vise grip of higher prices as gas is up over one dollar from a year ago,

hitting the highest level in seven years in november. home heating sources spiked as well, with natural gas up get this, 68% year-over-year. as i send it back to you, what i will say, david, you know that old saying on wall street, the trend is your friend. not this time. david: not with inflation. >> people will be cutting back, trading down to save money. david? david: yeah. it's a bad time for inflation. thank you, gerri, appreciate it. despite the on going inflation, consumers haven't stopped spending yet. constellation research ray wang joining us with more on that. ray, good to see you. strong holiday shopping numbers. that was a good thing. a little less than expected but it was still strong but could higher inflation cause consumers to cut back? >> definitely is happening. we see producer price indexes up 9.6%. with he also see consumer price index up .8%. good news people were buying. there was pent-up demand and people were buying.

.7 of a percent higher in sales. people in the mood. child tax credit, stimulus checks still there, people have money to spend. what is worrisome what happens in q1 when the stimulus goes away. more importantly we'll see a glut of supplies in the supply chain flood the market. with he might see that drop in that piece. the labor costs we're concerned about. labor costs where a lot of concern is coming from the ppi as well. david: interesting what you said about a coming glut as the supply chain issues resolving themselves. first of all, are they resolving themselves? we hear different stories from certain people. >> depends what the goods are. retailers did good job using airfreight instead of shipping to get stuff into the stores. we're seeing items might not have been marked down or discounted the way they were. what they are able to do, interesting things around dynamic pricing and taking returns, getting them back into the stores more quickly. they have done a much better job

than years past. we have not been able to find markdowns. a lot of people complain about the fact that the deals were not as good this year but we're getting a christmas rally on retail side. david: how about things like chips, ray, really killed by omicron, by omicron by the pandemic in general now omicron? ford for one company decided to make their own chips in order to get around the supply chain issues. are we beginning to see more chips developed? so many things rely on chips in particular cars? >> yeah. the chip shortage is going to continue. we expect that to continue until 2022 at the end and early 2023. part of it actually was caused by the huawei ban where huawei was hoarding chips in order to get their production of their phones out there. that created a cascading effect across the industry as people were trying to hoard chips and get chips in the market. huawei was buying up a lot of the chips causing that shortage. then of course the increase in demand that people weren't

expecting in the middle of the pandemic. david: what about the big ticket items that depend on chips and other thing? particularly the labor and a labor shortage, of course. cars, for example, is the car industry turning out to the meet the demand? >> so what we've seen in the car industry they have been either making their own chips like in tesla's case, modifying software to use different types of chips. of course pushing chips into more high margin vehicles. we're also seeing that. if you go into a lot of any dealer lately you notice there is not a lot on the lot. they're basically building almost just in time in demand for those vehicles. so we're also going to see some shortages there going forward. you can expect that to continue and of course you noticed in the used car market, the used car market is up. in some cases used cars are more expensive than used cars. david: prices are going up all over. if i can't afford meat, ray, i don't think i can afford a new

iphone. i'll wondering there is big difference purchasing of meat and perishables and purchasing of technology. if you really have to struggle to keep up with what you need you're less likely to buy what you don't necessarily need. that should be worrisome to companies like apple, no? >> there is certain types of demand that we're seeing especially on food prices, in the previous segment. hopefully the food prices come down. a lot has to do with labor. you might have noticed interesting things, raw meat prices are actually cheaper than any processed meat prices. you see that discrepancy because of the labor shortage. hopefully those things go down but for companies like apple, other electronics companies out there necessities are going, much more important than what we're going to see on the luxury items and things that are not necessary 'tis. david: ray wang, great to see you as always. you explain things so well. thank you very much. have a great 2022 by the way. >> you too.

david: speaking of apple, can apple become the first 3 trillion-dollar company before the year-end? it is very close right now. we'll have more details when we come back. ♪ ♪ feel stuck with credit card debt? ♪ move your high-interest debt to a sofi personal loan. earn $10 just for viewing your rate — and get your money right. ♪ (kate) this holiday, verizon has the deal that gets better and better and better. get iphone 13 pro, on us, when you trade in your old or damaged phone. (kate) better? (guy) better. (kate) hey. (kate) and up to $1,000 when you switch.

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time to call than now. thank you. you are making a difference. david: smash-and-grab robberies caught on camera grabbing a lot of attention in 2021 but even more serious crimes have also surged this year, particularly violent ones. william la jeunesse live in los angeles where many of these incidents have taken place. we should mention it is happening all over the country from west coast to east. william. reporter: well, david, kind of question, did the pendulum swing so far to the left with no bail, less jail, fewer cops, will it begin to swing back the other way? 25 cities actually have seen basically record levels of

violent crime and seven more are close to homicide levels last seen during the crack cocaine epidemic of the '90s. on christmas eve in houston, homicides, oakland, another one, along with a police shooting and gunfire outside of a hospital. >> just goes again to the callous nature of people's behavior right now and the willingness, brazenness to use firearms in our community. reporter: so following the death of george floyd many democrat led cities defunded police. voters followed that rhetoric, electing soft on crime prosecutors that favored diversion programs instead of jail and the d.a.s showed open disrespect for cops that carried over with the public. law enforcement fatalities in 2021 up by 24%, those killed by gunfire and assaults up by 50%. >> taking an incredible toll on

the officers and agents out there that are trying to keep us all safe. reporter: so with fewer companies on the street and fewer felons in jail we saw a lot of smash-and-grab robberies, a number of cities, even progressive mayors who supported those prosecutors in the past are having second thoughts. >> there are people who need to behind bars. we have opened up a lot of the cities because we're in a better place with covid. we should be able to open up our jails and have judges that put people behind bars as well. >> violence, dangerous offenders on the streets has reached a tipping point. too many of our neighborhoods are up for grabs. reporter: no surprise, david, gun sales are expected to hit about 20 million this year which is just shy of the previous record of 22 million and of course people are now realizing that you know, crime isn't just a police or a sheriffs problem

but it matters who you elect and the policies they support. david? david: yeah, it does very much so. william la jeunesse, thank you very much. former las vegas police lieutenant randy sutton joins us now. thank you for being here. how do democrats justify their crime policies in light of the skyrocketing violent crime rates and the deterioration of cities under their control, lieutenant? >> well, it's a great question. let me preface it by saying it has never been saver safer to be a criminal in the united states and less safe to be a citizen right now and much of that is democratically elected prosecutors around district attorneys throughout the country. now, i call, i call these district attorneys and these prosecutors trojan horse district attorneys and prosecutors because they are literally the enemy within the gates. they don't care about prosecuting criminality. they care only about their

personal political agendas of being activists. now keep in mind, in my role as a commentator, i talk about this all this time but also in my role as the head of the wounded blue, which assists injured and disabled officers i see this, i deal with this every single day because last year, we're talking more than 60,000 law enforcement officers in the united states were physically attacked and assaulted. this is astronomical. david: wow. >> if the police can't keep themselves safe, how can they keep the public safe? david: yeah. lieutenant, you make some great points but the progressives d.a.s, i hate to use the word, there is nothing progressive about what is happening in cities, we've seen it all in the '80s, early '90s before we cleaned things up. but the progressives d.a.s are in a state of denial about the crime going on around them but some of mayors themselves. the d.a. of philadelphia krazner particularly so.

he pulled some comments back but here is what he said about raging crime in philadelphia. roll tape. >> there is not a big spike in crime. that is not true. there is also not a big spike in violent crime. neither one of these things is true. basically we don't have a crisis oflessness. we don't have a crisis of crime. we don't have a crisis of violence. david: that just wasn't true what he said, the former mayor of philadelphia, michael nutter, the first african-american mayor of philadelphia said, i'm quoting him, it take as certain audacity of ignorance and white privilege to say that right now. i have to wonder what kind of messed up world white wokeness krazner is living in to have so little regard for human lives lost, many of them black and brown while he advances his own national profile as a progressive district attorney. that is the point. these guys have ulterior motive for their policies. >> exactly. what we have is a crisis of

incompetence in the philadelphia district attorney's office. krazner, okay, there are two choices here. krazner is either delusional or a liar or maybe both but i think probably, i'm going to opt on the liar part because he knows exactly what is happening. you have to be blind not to see the violent crime tsunami that has engulfed philadelphia. you hit it right on the head. that is why i call them, he is a trojan horse district attorney. he is not interested in prosecuting criminals. not interested at all. he is only interested in his own personal and political agenda of, what he believes is some weird enlightened progressiveness. it is literally delusional. david: it is delusional. of course you have the same thing happening with gascon in l.a. the same thing is happening here in new york with a guy named alvin brag, all of whom rao sieve ad lot of money from george soros. why? i don't know. we're trying to ask him that

question but we haven't been able to reach him. lieutenant, great to see you. thanks so much for being here. appreciate it. omicron spreading nationally and a at the timing shortage is not helping. we'll speak with the ceo of one of of testing companies right after the break. stay tuned. ♪. [sfx: radio being tuned] welcome to allstate. ♪ [band plays] ♪ a place where everyone lives life well-protected. ♪♪ and even when things go a bit wrong, we've got your back. here, things work the way you wish they would. and better protection costs a whole lot less. you're in good hands with allstate.

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♪. david: well apple is closing all of it the stores in the big apple temporarily because of omicron. susan li is here with the details. hi, susan. reporter: that's right. when the world's biggest company takes preemptive steps to close up shop other companies may follow suit. you're right, apple says they're closing all of the new york city stores, that includes the famous cube on fifth avenue, which

actually gets more visitors each year than the statue of liberty. also stores in manhattan, brooklyn, the bronx, staten island also being affected as well. these are high trafficked areas. you have apple select stores closing in parts of l.a., d.c., ohio, texas, maryland, and even in florida. you wonder if other retailers might follow suit especially if apple is going to take these steps. from a business perspective not much impact on apple's bottom line since they sell most of the devices online these days. apple's stock still within striking distance of crossing the that 3 trillion-dollar market cap, if they do that, this he would be the first company to ever cross that mark. but that 182.86 demarcation line in price is a bit elusive and sticky resistance there. $3 trillion doesn't seem expensive for a company that makes over a third of a trillion dollars in sales each year in each of its business segments are fortune 100 company on its own. those numbers are staggering. other companies are also

reacting to omicron. that includes on wall street, goldman sachs taking the lead here, a trendsetter. goldman mandating boosters, extra testing for the staff, targeting return to the office on february 1st. goldman solomon and jpmorgan jamie dimon are titan advocates for in-person work, when it requires that in-person clients you're facing on wall street. i finally want to end on cryptocurrencies. david is sub50,000, and what i found really interesting in terms of trendlines this is the first time suns june that bitcoin not traded with the s&p 500. there is usually a tight correlation over the past six months or so. bitcoin is down 5% this month but the s&p 500 is up 10%. i don't know what that tells us there is more adoption, more mainstream buying of cryptocurrencies. it is not going away. david: i probably get more questions about cryptocurrencies

than any other question about the economy or anything else. everybody wants to know about cryptos. >> every day. david: susan, appreciate it. meanwhile look how many americans are spending the last week of 2021, waiting hours in long lines for covid tests. covid testing company prophase is beefing up its staff in order to handle the influx of covid testing in new york city and elsewhere. the ceo joins me now. ted, good to see you. thanks for being here. how is prophase affecting the long lines? >> thanks, david, for having me on your show today. historically we spoiled our customers. we turned around results if anywhere from six to 12 hours we could turn around results. all of a sudden we had this tremendous spike in covid and this tremendous demand for testing particularly over the holiday season. people want to travel, we got inundated with specimens about two weeks ago. you have labs around the country

that are taking as many as seven to 10 days to turn around result. right at peak two weeks ago we were really slammed we had turn around results of four or five days. we're currently about two to four days. we're hiring people like crazy. trying to get our turn around times back within 48 hours. to give you an example we test schools around long island. they will be tested on friday. we're hoping to get them the results by sunday in time before they go to school on monday. david: ted, you say you're hiring a lot. are you having difficulty? there is a tremendous labor shortage in america right now. is it tough to find people to hire? >> sure. so in general it's hard but then in addition to this covid comes in waves. because it comes in waves you can't plan well in advance. for instance, over the summer we had very little demand for testing. i could not justify having 100 or 150 employees working here just sitting around the lab. then all of a sudden we had this tremendous demand and ramp up.

we're out scrambling trying to hire anything from high school students to do the first step in the lab processing to licensed technologists who have to do the last steps. we ramped up. we hired, 50, 75 people in the last two weeks. we're trying to build as quickly as we can to keep up with the demand. but then again, it gets complicated two or three months from now we'll have the slow down, we won't have the incidents of covid now. we'll have to figure out how to hire people, temp agencies you can hire people for two or three months, not feel bad you have to let them go afterwards. david: very quickly, ted, a lot of people ask me whether there is any testing for antibodies? folks want to know particularly if they have natural immunity, if they have covid recently, whether they still have the antibodies, do you do that kind of testing? >> sure, of course there are rapid antiagain tests. there are rapid antibody tests.

the rapid antiagain tests don't work as well as pcr testing. antigen tests are only accurate with peak cove vied lows. antigen tests will give you false-negative. on the other hand antibody tests tell you whether you have immunity. typically after the vaccines you will have immunity, although that wears off the past six months. same thing if you have gotten covid in the past. you will have antibodies but that wears off over time. there are rapid antibody tests very accurate. i highly recommend them. david: they're using them over in europe as alternative to vaccine mandates. if you have a vaccine you can get in places and if you have a antibody test, positive antibody test you can get in places. they use that as alternative to just having a vaccine. it is worthwhile to get one. ted, good luck to you. it is quite a challenge. i see the lines everywhere in manhattan. i appreciate the work you're doing. >> david, i appreciate it very

much. thanks for having my on the show. david: absolutely. coming up, walmart facing backlash in china over its inventory. why more u.s. companies may have to deal with the same dilemma. that's coming up. your shipping manager left to “find themself.” leaving you lost. you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates matching your job description. visit indeed.com/hire

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david: this is interesting. walmart is facing fierce backlash on social media in china. fox business's lydia hu joins us to explain why. reporter: hi, david. consumers in china are not happy with walmart coming after president biden signed the bipartisan uyghur forced labor prevention law into act last week. bans almost all imports to the u.s. from china's shinzhen region which the biden administration say excuses using forced religious minority. the products coming from this northwestern region are out of stock or not listed as available on e-commerce stores. products like mellons, red dates, grapes, cotton items are impacted. hard irto find in walmart stores. chinese consumers are outraged, can sells membership in sam as

stories owned by walmart. china is home to 434 walmart around sam's club stores. the couplertry is walmart's second largest international market. this is a big deal for walmart. walmart is not the only company subjected to scrutiny by chinese consumers over this policy. last week california semiconductor maker intel issued apology to chinese consumers after shoppers pressed outrage on social media when intel requested their suppliers avoid sourcing from xinjiang. the president was erased from the internet in china and expressed concerns about forced labor and nike was targeted for social media. after friday this particular topic was trending on weibo, chinese social media platform. garnered more than 170 million views. a topic attracting tension on both sides of the pacific.

david: 170 million. that is like my twitter account, 170 million followers. lydia, thank you very much. taiwan is bracing for more even more chinese military patrols after air force fly-bys by the island doubled in 2021. republican congressman pat fallon joins us to discuss. pulling back, congressman, looking at the big picture, there is an article in "the washington post" by hugh hewitt china is the free world's biggest threat. the technological, military, economic might of china is greater as 2021 comes to a close than the ussr was at the height of its power. is china a bigger threat to the world than the ussr was during the cold war? >> oh i think, david, thanks for having me on. there is no doubt about that. i mean currently right now china has five times the population of the united states. their gdp is pretty much on par with ours.

soviet union never came close in that regard to ours. china has standing military, 3 million, they're increasingly aggressive and very dangerous. soviets didn't have economic might. they certainly had military might. they didn't have economic power to back it up in a sustained conflict. china is very patient. i remember as a child 25 years ago them saying they want to be a world's superpower. they have reached that goal. david: they sure have. so far we haven't had one of the cuban missile crisis moments with china. a lot of people say there is another island in the far east called taiwan and that could be the choke point. is that going to turn into what the cuban missile crisis was for us back in the '60s? >> of course we hope not. we want to talk about deterrents. we fileds, our office filed in october, concurrent resolution 56 which said that the biden administration would guarranty the united states, the united states would guarranty taiwanese

security. unfortunately that hasn't gone anywhere. the biden administration, should be the biden doctrine. he should say that if china knows it will be in a hot war with the united states if they attack taiwan militarily i don't think they will do it. so i pray they don't get increasingly aggressive. david: the president did say it. and then the administration walked it back, maybe jen psaki or the secretary of state walked it back the next day, we didn't mean to say anything not in the current treaty agreements. you want something more forceful. i don't think it will come out of this administration. do you? >> no, but they have been projecting weakness and dictatorial regimes. china has no legitimacy in their own country. they rule by the barrel of a gun. they react to strength and they also react to weakness. under president trump, i think honestly china and russia were afraid of him because he was very strong, he was very clear. let's be unambiguous about our policies moving forward. nobody knows what joe biden's policy is related to the

russians, related to the chinese, related to the iranians. i'm still guessing. we're asking the administration for clarification and we're not getting it. david: yeah. a lot of people don't think we are going to get it in 2022 either. congressman pat fallon, good to see you. thank you very much for being here. appreciate it. if you can't build back better, change the rules. what democrats want to do now that their social spending agenda has stalled. that's next. ♪

♪ looking for a complication -- ♪ looking -- david: good sounds coming from fox business today. welcome to the second hour of "cavuto coast to coast." i'm david asman. happening now, long lines for coto vid tests, long lines for flights, and president biden taking a long break in delaware. saying it's time for states to solve the pandemic problems, not the federal government. thats' where we start the hour. some states see record covid cases. steve harrigan is live in atlanta with the latest on this. >> reporter: israel going even a step further. they've begun to experiment with a fourth covid vaccine, a fourth dose. they are using 150 medical volunteers to begin to

administer this fourth dose. >> be the first person, apparently in the world, who got the fourth booster of the covid vaccine. to paraphrase an old saying, it's a small jab in the shoulder, probably a giant step for man kind. >> reporter: at this point u.s. health officials say it's simply too early to tell whether a fourth dose of the covid vaccine will be necessary in the u.s. or not. but at this point really omicron is king in the u.s. the cdc announcing today that 58.6% of the new cases in the u.s. at this point are are omicron. that is more than double the percentage of just one week ago and explains in part a cdc decision to reduce the isolation time. they recommend cutting in half the isolation time for someone who tests positive with no symptoms from 10 days to 5 days, in part to reduce the drag on the work force as omicron continues to rapidly spread. david, back to you. david: great to see you, steve.

thank you very much. meanwhile, as progressive cities like new york and l.a. are tightening restrictions, gop-led are states are looking to help those who lost their jobs over the vaccine mandate. kelly o'grady has the latest on this. hi, kelly. >> reporter: hi, david. yes, political lines are deepening. a number of states are now going to offer unemployment benefits to people who have lost jobs over vaccine mandates, and critics of these measures say it equates to playing people to remain unvaccinated. but backers of the relief effort insist americans should be able to decide for themselves whether to get vaccinated or not. at least five republican-led statements have carved out excepts and actually in kansas, democratic governor laura kelly sided with the conservative legislature on this push. similar ideas have also been floated in wyoming, wisconsin and missouri. this is important because workers tip create don't qualify for unemployment -- typically

don't qualify for unemployment benefits if they are fired for defying company policies. now, on the business side many are expressing frustration about shouldering these costs, asserting that unemployment benefit systems were not designed to support this. >> once an employee starts hitting the fund for unemployment benefits, the employer's expense goes up. they will have to pay more in unemployment tax to make the fund whole. >> now, these new state benefits could become meaningful because on top of the looming osha mandate, many corporations are already requiring employees to be fully vaccinated. goldman sachs will now require its staff to get a booster shot to enter the building, calling into question the deaf mission of fully vaccinated -- definition. lots of things changesing right now. david: as usual. kelly, thank you very much. well, the solution lies with the statements, that's according to

president biden who now says the pandemic won't be sod on the -- solved on the federal level. if that's the case, biden should rescind the mandate, editorial board member bill mcgurn joining me now. don't they rem recognize it's a little bit of a contradiction to say the statements are in charge while you have -- states are in charge while you have federal vaccine man kates? >> no, i think it's par for the course with the confusion from the white house. one thing find hasn't been able to do is to establish clear leadership and priorities. look, what are the big problems behind this reversal? during the campaign he politicized covid. he said donald trump should step down because of all the depths from covid -- deaths under his watch. he's had more deaths. now earthly reality is replacing progressive fantasy, and i think

he's kind of forced into this. but again, as you point out, all sorts of contradictory policies. we see, let the statement -- states experiment. no one size fits all for everyone, that's what states are all about. david: exactly. that's the beauty of our republic, the fact that we have these little petri dishes called states when we try out things. the vaccine mandate doesn't work. the fact is, is that we had an acceleration of vaccines before the mandate. the mandate came in, and it leveled off so it didn't have the stated effect. it's the same thing when the administration says the way to solve inflation is by spending trillions more. i mean, it just -- they don't have policies that work. >> yeah. i think that's because, again, you know, joe biden came in promising to shut covid down, and that promise, you know, covid's making a liar of him,

right? in some ways i don't think that's his fault. it's just impossibility. but i think what we have to do is we have to learn how to live with this, and that means mitigating risks, you know, having cost benefit analysis for things, not just throwing something at the wall and see what sticks. and have honest conversations about what works and what does not work for this. and also rely on our private sector and our technology sector and medical sector to come up with things that will help us deal with this better. that's what where -- where our hope is. live living with the advances that medicine and technology give us. david: well, and it does bring to mind whether -- we're all ating for -- waiting for a pivot from the far left which biden began the year going into the year, many people wondered whether 202 22 get ready to make a pivot towards the middle. and maybe this is the moment.

they had a pivot in australia. it's a long way away, but -- and they had the strictest lockdowns, the strictest mandates on earth in trail -- australia. the prime minister came out with a complete reversal last week. this is prime minister scott morrison. here's what he said last tuesday, roll tape. >> we've got to get past the heavy hand of government, and we've got to treat australians like adults. we have to move from a culture of mandates to a culture of responsibility. that's how we live with this virus into the future. david: bill, could it be that that is where president biden is going? >> i would say it should be where he's going for his own presidency. but a sign of that would be for democrats to applaud joe manchin for keeping this ship from, you know, heading towards the shoals with what he did.

instead he's vilified and treated as a public enemy. i don't think they know how to do it. and again, as i wrote today in my column, one of the problems is joe biden as president has not shown leadership are. you know, he's behaved more like a senator, and he's left this stuff to be hashed out in the back rooms of congress. he needs to take more command over his own party and drive it and say these are the priorities. i expect people to join me with it. i don't know if he has it in him. david: well, it's a good question. the other question is how he's going to deal with what he has wrought, what his policies have wrought all around the world. not just in domestic policy with inflation, but what happened in afghanistan. you write about that in your column this week. we have an old colleague, he's now with another organization which name we won't mention because it's a competitor of you ares, al hunt, who used to be the bureau chief at the wall street "wall street journal." he wrote a piece saying 2021

wasn't so bad, this administration has been kind of good. he says we have a good economy notwithstanding the fact that we have record inflation, inflation like we haven't seen since the '70s. he says it's scandal-free, this administration, despite what happened with hunter biden, despite the lies that were said about afghanistan and getting troops out, and he said that we have a competent team in the cabinet, the biden administration has a competent team. you have a treasury secretary who spent two months off during the middle of a supply chain crisis, an energy secretary who couldn't tell the press exactly how much oil america uses per day. i would say it's a pretty bad record, not a good one. what would you say? >> yeah, i would say afghanistan alone, i mean, it was the most humiliating setback for america i've seen in my life, the way we left people behind anding signaled to the rest of the world how incompetent we were.

i think this is the president's problem now. it's not so much a left or right divide or republican or democrat, i think people just think the job is too big for him. he's in over his head. they might even think well of him, but they don't think he can do the job. and that's why you're hearing all these allusions now to jimmy carter, because sort of a metaphor for political haplessness. david: well, so what happens in the big ticket items? i mean, in dealing with china, for example. i mean, they've clearly got their eyes on taiwan. is 2022 going to be the year where we see china go into taiwan, russia go into ukraine again, or will he get a pass in 2022? >> well, i mean, that's the fear, right? i think they're very well grounded fears. you know, what joe biden needs now having projected such weakness and indecision on the

international station -- stage, he needs sort of an air traffic controller moment. when reagan fired them, it sent the signal to moscow, hey, there's a new sheriff in town, and he's serious. and i think because of the president's failures especially in afghanistan, the price has gone up. i would advise him, i think one of the best ways he could salvage his presidency and send a strong message to these hard men in beijing and moscow is by getting tough with iran. i mean, iran sort of is in the position now to do -- you can understand why you don't want a one-on-one confrontation with china. but i think if i were in the president's shoes, i'd be looking to do something with iran especially if we calculate that they are pursuing their nuclear ambition. lots of avenues we can take that would convey a message of strength. david: bill, i'm smiling because i'm thinking -- you quoted ronald reagan. a democratic politician once

said i remember ronald reagan, i worked with ronald reagan and, believe me, body -- biden is no ronald reagan. [laughter] i think it's highly unlikely that he's going to find ronald reagan's spine in his back when he wakes up tomorrow. >> i agree entirely. look, i think president biden sees the same dangers that we do with xi jinping and putin and so forth. but i think his conclusion is i don't want to do anything that might provoke 'em. and, of course, that's the kind of weakness that makes the conflict more likely, not less likely. there's no way out of this without some projection of strength. david: peace through strength, that was the phrase that ronald reagan used to use. bill mcgurn, thank you very much, appreciate it. coming up, u.s. energy independence dwindling. could we see $100 oil next year? we'll discuss that right after a break. ♪ you had to have the last word last night --

♪ so much fun to be around. ♪ you had to have the front pag- ♪ you had to be a big shot last night ♪♪

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is facing a toxic regulatory environment. fox news contributor phil flynn joins me to break it down for you. phil, good to see you. hope you had a wonderful christmas. the president claims that prices are going to come down in 2022. you don't see that happening with energy prices. >> not right now, dave. and to be honest with you, that's wishful thinking, and i'm sure you had a good holiday as well. yeah, at the end of the day, i mean, the biden administration has made one misstep after another when it's come to energy. and probably their biggest misstep that they made was basically going after the u.s. oil and gas industry because that is the only industry in the world that's kept global oil prices under control for the last couple years. so they've bittennen the hand that's fed them. they've discouraged investment, and unless they change course, we're going to see prices continue to skyrocket in the new year. david: it's not only prices,

phil, their objective -- we've been talking all day about their objectives not happening but by their policy. their objective is for a cleaner world. that's a great objective, for the air and water to be cleaner, etc. but what's happened is we've become more dependent on coal in the past year because of their attacks on natural gas. so they have these policies, whether it's regulatory policies or executive orders that lead to the opposite of what they claim they want to attain. >> it really is. and i think it's because they don't follow the science, right? [laughter] you know, when we talk about covid, they say follow the science. they keep talking about getting to zero emissions by the year 2050, but you've got to look at how that's going to be scientifically possible. to be honest with you, right now it isn't. and just, you know, by making fossil fuels more expensive, they think it's going to speed things along, but what it could do is actually hurt the economy,

the poor and the middle class. and it's having the oppositefective. -- opposite effective. >> if they have to rely on fuels that are not being produced, they're usually dirtier, and that's going to ruin the environment a lot more than if you had worked for a smooth transition. david: or it could lead to shortages that will make people very vulnerable as we head into the cold freezing period of our country. you have in new york these new rules and regulations that try to outlaw in any new buildings that's being built natural gas where, you know, in fact, natural gas has brought down co2 emissions by 20% since 2010. >> yeah. i don't think the biden administration realizes that, you know? the united states more than any industrialized country in the world has reduced greenhouse gas emissions, and it wasn't just because we were building wind farms or solar panels.

it was mainly because of the u.s. shame -- shale revolution. and it's the least emitting fossil fuel when it comes to greenhouse gas emission, and it should be the transition fuel that gets us to where they want to be. david: yeah. >> but by dissing that fuel, all you're going to do is make energy prices in new york probably skyrocket by as much as 70% in the coming year. absolutely crazy. david: i've got to take a break, but quickly, we're giving all these green lights to the russians and to opec to produce more that we, frankly, should be producing here because don't they produce it in a dirtier fashion than the way we do? >> absolutely. and without the regulations and without the tax dollars in benefits from jobs that we have here in the united states. finish listen, u.s. energy producers are the best in the world. biden administration, please work with them not against them. that's the only way you're going to have a successful energy policy. david: well, hope springs

eternal. maybe 2022 will be different, we'll see. phil flynn, thank you very much. with build back better on the back burner, democrats are making voting rights legislation a top priority. more on that after this. ♪ ♪

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♪ david: so democrats have made voting rights legislation a key priority while build back better stalled. fox news congressional correspondent aisha ofny is in washington with the latest. >> reporter: hi, david. democrats claim voting rights are under attack, so much so that vice president kamala harris told cbs the u.s. would lose its standing in the world if congress failed to act.

finish -- >> we're about to take ourselves off the map as a role model if we let, if we let people destroy one of the most important pillars of the democracy which is free and fair elections. >> reporter: democrats say a number of red states passed restrictive voting laws this year. their counter legislation, what critics call an effort to nationalize elections, would create an automatic voter registration system, ban e photo id requirements, create nonpartisan redirectioning commissions and combat -- redistricting commissions. now, majority leader chuck schumer is even threatening to force a vote to carve out what he calls the ill-conceived filibuster in order to pass voting rights legislation with just 50 votes as opposed to 60, although at least 2 senate democrats and all republicans stand in their way. >> most americans understand that certain basic ballot

security measures guarantee the integrity of their own vote and do prevent the temptation to cheat by others. one of the big lies is that the state legislatures across america are busily at work trying to deny people the right to vote based upon race. >> reporter: david, all of this comes nearly two months after liberal new yorkers overwhelmingly rejected proposals that would have expanded voting access. david? david: thank you very much. so with the bbb dead at least for the moment in 2021, a lot of folks feeling the government and inflation growing out of control, they kind of breathed a sigh of relief. but could biden's radical appointments in the regulatory body of government stifle the free market in 2022? former omb director under president trump, russ vote, joining me now. was, good to -- russ, good to see you. leave bbb aside for a moment.

it does seem like there's going to be an effort to install a lot of the programs in bbb. nobody knows how much money it would el entail, install them by executive order. what are your thoughts about that? >> yeah, i think this is a desperation play by members of the far left to both put some fear into joe manchin and to possibly have some face-saving measures. i mean, there's just no way that you can do a $5 trillion by executive action. the constitution requires appropriation for spending. there is not $5 trillion of executive action that you can do to just create those appropriations out of thin air. david dave here's what the constitution says, it says no money shall be drawn from the treasury but in consequence of appropriations made by law. now, despite that very clear language in the institution -- constitution, a lot of democrats say, well, the trump

administration reapportioned money that was supposed to go to the pentagon for trump's wall down along the border. what do you say to that? >> yeah. no, i expect those arguments. but the reality is that congress had appropriated every dollar that we used for the wall but did it in a way that was so flexible that allowed us to be able to redirect that money, and the amounts were nowhere near 5 trillion. we were talking about 5 billion, 10 billion, in that magnitude. to believe that there's somehow $5 trillion in funds sitting there that can just be redirected for climate change and whatever is included in build back better, it's just insane. and that's one of the reasons why the progressive caucus and jayapal's op-ed did not have a specific plan. they know that these are all hail mary plays, that they don't have any concrete details. david: even if you assume the

bbb is dead not only for 2021, but also for 2022, there's a lot of stuff the biden administration could do, that they already have done in terms of regulatory policy and appointing people in the regulatory bureaucracy which is huge in the united states now that acts as a kind of tax against business in america. and individuals. but we've seen it happen with the energy industry, but you could see it happen in a whole range of things. of course, the most blatant example is professor omarosa and her plans to nationalize the banking institution in america. >> yeah, there's no question that this is going to continue to be a biden administration that pursues bad policy, bad economic policy, anti-energy policy, that is intending to increase the price of energy. that's their whole design, that's their whole point. the regulatory policies are all designed to move towards an equity system that is an

equality of outcomes, and trying to put more control in washington and take it away from family farms and businesses. so, yes, those policies kind of baseline, run of the mill biden administration policy will continue to move on into 2022 regardless of the outcome of build back better in the new year which is looking dim right now. david: and there's a different dimension to the regulatory policies we're seeing, particularly from some of these nominees that they put forward. i don't know whether they'll ever get through the senate, but we have to emphasize this isn't the sort of stuff that we saw with the clinton administration or even with the obama administration. these are individuals that are very strongly anti-capitalist. these are are radical anti-capitalists who fundamentally want to change the economy to make it as close to socialism as anything i've seen, as anything anybody's seen in this country. >> yeah. when you're putting forward nominees that are against private banking systems, you know that you've reached a new

level of liberalism. and i think the biden administration's approach, whether biden is aware of it or not, is to say let's throw up as many far-left appointees and see what the republicans can do to be able to stop all of them knowing that many of them will get through because republicans are a little more susceptible to accusations that, you know, you're blogging all my nominees. and -- blocking all my nominees. i think that's unfortunate, and they should oppose all of them. the reality is these are hard-left nominees that are getting through, and it'll have a substantial impact on the american people's way of life. david: by the way, professor o, marosa has withdrawn her name because there was so much scrutiny about her previous writingings with regard to nationalizing banks and stuff. do we know who her replacement will be, or do you have any suspicion that her replacement will be anything better than what she represented? >> you know, no. but i think what we've learned is that they just send up a new

nominee that's very similar but maybe doesn't have the paper trail to have the nomination blow up in the same way that hers did. and so we need organizations and senators to be vigilant in asking the right questions, people like senator cruz and senator hawley have done a great job of this to make sure in questioning they are asked revealing questions that articulate their world view, their policy agenda so that senators can understand when they do those confirmation votes what they're getting and what the american people are getting. david: right, right. we really could regulate capitalism out of the united states economy if we're not careful. russ, good to see you, my friend, thank you very much for being here. happy new year. well, santa claus are is handing out -- is handing out gifts on wall street, the santa rally off to its best start in 20 years. come down a little bit on the dow but not so much is. how long will the santa rally last? we'll have more on that after this.

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♪ david: as the widen administration grams with how to handle the economy, the imgrant could be -- impact could affect the midterms. lydia hu has the latest. >> reporter: hi, david, a chance for republicans to make some gains in the house and senate. rising inflation and president biden's slumping approval numbers are putting pressure on democrats to pass build back better next year so democrats can counter the issue of risingen inflation to -- rise rising inflation to their base. >> the only signature accomplishment of this

administration, the build back better bill,s they claim that inflation will have no effect on inflation. that remains difficult to see, so all of this is brewing to be a very unpleasant series of political events for midterm elections. >> reporter: the republican national committee is taking aim at the president and house speaker nancy pelosi, pointing out many of biden's policies are already contributing to rising inflation. currently running at a near 40-year high, these policies are eviction moratoriums in the stimulus benefit and the recently extended moratorium on student loans. and it seems like voters are taking note. twice as many voters polled recently say they believe biden's policies are hurting rather than helping inflation. david, when you couple inflation with supply chain struggles and ongoing labor shortage, some predict republicans could pick up maybe dozens of states in congress come november.

currently, democrats have a narrow majority in both the house and senate. all seats of the house are up for election next year, 34 of 10 0 senate seats. david: thank you very much. republicans see an election opportunity when it comes to president biden's handling of the border. retired acting i.c.e. director and former border patrol chief ron i have tell low is here to talk about it. thank you for being here. are there any sign ises of any improvement or any attempt by this administration to slow the flood at the border? >> no. and, in fact, every chance they've gotten to make a policy statement on the border lime reimplementing the migration protocols, they've taken a step back. they're still writing regulations to end it, so what was working before january 20th, '21, you had record low levels of activity at the border. the last surge was checked by this program. and one of the first things that

this administration did was reverse or that policy. that caused the largest surge we've ever seen on this border. we ended the fiscal year with nearly 2 million encounters at cbp, and that hasn't happened for decades. this is the worst it's ever been. david: meantime, states like texas and arizona are having to take efforts of their own which is costing them millions of dollars to either build parts of a fence, they're actually sending boats out to the rio grande in texas. is the federal government doing anything to help these local efforts to stem the flow? >> well, if these policies don't change, the flow will continue. the border patrol will be distracted. and thank god for states like arizona and texas who have put resources at this problem including building a wall and making arrests at the border. just imagine if they weren't helping in texas how much worse it would be. but, no, until the policies change or if we -- we just talk about the elections -- if

congress steps in and acts, they could legislate the migrant protection protocols, they could fix some of the framework that allows people to come to the border and then be released because the lack of resources or the lack of authority to hold certain populations. and so congress could fix it, but they're going to have to force it because i don't see anybody in ad managers advocating for a -- advocating for a more secure border. david: there's a political side to all this i want to get into a little bit. if the administration, a lot of people are suspecting this, if the administration thought that an open border would help them with the latino vote in america, they were dead wrong because if we look at the polls, there was a "wall street journal" poll that just came out that shocked a lot of people showing an even divide between republicans and democrats in terms of how hispanics describe their vote ises. latinos in america are moving away from democrats as a result of these border policies. >> people who live on the border, people who are recent

immigrants or have a recent history in their family, they know what the rules are. their families complied with those rules. the people on the border know how dangerous it is for these cartels to be enriched by this uncontrollable flow of humanity. the people that live on the border, latinos, hispanics, hard working people. they work hard, they pay their taxes, hay followed law, and they want that same rule of law to be executed at the border. most americans want a secure border. most americans are for immigration, but as long as that border looks the way it does now, people aren't going to support it. >> another thing they don't seem to understand about the latino vote is they don't like woke policies whether it's moving towards socialism and economic policy or on crime issues and so forth. they're generally not the sort of woke individuals that they're playing to in liberal states like new york and california. so they sort of misunderstood the voting habits of the latino

group as a base. >> correct. these are hard working, compassion may not people. many of them have small businesses. they believe in the rule of law. they're capitalists. they want to succeed in this society because this is a place where you can do it. and if we start breaking down the rule of law especially at the border, those people are going to suffer along with the rest of us. david: finally on the issue of national security, because there have been some arrests that have been made of people that have suspicious backgrounds. many are wondering whether terrorists might want to try to get through a porous southern border into the united states to do harm here. what can you tell us about that? >> well, the threats are real. border security is national security. people don't come to that border to stay at that border. they go around the whole country, and they don't just come from central and south america or mexico. they come from all over the world. and cartels are taking advantage of it, corrupt governments are taking advantage of it, and it could happen that terrorist organizations are going to take advantageover it.

that's why we need to get control over that border, so we know who comes and goes. david: well, it's definitely an election issue in 2022 and probably in '24 as well if it stays this way. ron, great to see you. have a wonderful new year, appreciate it. >> you too, thanks, david. david: thanks a million. we'll be right back. thereu' are i need indeed. indeed you do. indeed instant match instantly delivers quality candidates matching your job description. visit indeed.com/hire what if you could see the details of your great-grandparents wedding day... ...or the record that welcomed your great-grandmother to the world. your family story is waiting to be discovered,

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♪ david: flight cancellations still wreaking havoc on holiday travel plans for the fifth day in a row now. jeff flock is in philadelphia with the very latest. how's the city of brotherly love doing, jeff? >> reporter: well, you know, there's worse places than philadelphia. remember ronald reagan? after he got shot, i'd rather be in philadelphia. i think he'd rather be here today because it's not so bad here. other places around the country it is bad. we just got the latest numbers from our friends at flight aware which keep track of these things. we've hit the thousand mark already. 10 -- 1,001 cancellations already, over 2,500 delays as well. you know, the problem has been, david, with airline workers testing positive for covid. they weren't showing any symptoms, but they were testing positive, so they had to go on quarantine for ten days.

the cdc now -- of course, that was what was leading to a lot of these cancellations. the cdc now says it's five days if you've tested positive and you don't have any symptoms. and if you've been boosted and exposed, you don't even have to quarantine anymore. this is something the airlines had been pushing and our reaction from them to us today, the aviation work force is essential to maintaining the operations of air travel and cargo supply chains. we appreciate cdc's announcement updating the isolation guidelines, the action's the right one based on science. the flight attendants union, however, pushing back. they're not so sure. in fact, the flight attendants' president, union president, said, and i quote her now, the fact that it aligns with the number of days pushed by corporate america is less than reassuring. so anyway, she said she wanted it to be based on the science, and now it appears it is, which indicates you're only contagious

generally in the first few days, so ten days really wasn't necessary. anyway, we still have the mask mandate, of course, as you see perhaps, i am wearing a mask at the moment as everyone who comes into the airport has to do. we talked to mike boyd though, the aviation analyst out in denver, who says he thinks that could be changing as well. the cdc guidelines on quarantine, this could be changing soon too. here's what he said. >> they're going to be working very hard probably to reduce the number of airplanes they're going to have to put in the sky similar blue because now they know omicron exists, and they're going to probably adjust to it. they don't like to can cancel stuff, you know? it's not good business, they don't like it, so they're going to try to do whatever they can. >> reporter: and mike boyd, david, tells us, you know, if you were planning to fly this new year's eve or somewhere around there, go ahead and do it. the hi -- he thinks things won't be so bad. david: just for the record, jeff, i used to live in

philadelphia. i loved it. i just wanted to put that out there, because we do have fans -- >> reporter: i am following you around, because i know you used to live in chicago too. david: i've been around a lot. >> reporter: where am i going next? [laughter] david: maybe you'll have to come to new york, god forbid. >> reporter: oh, my gosh. [laughter] david: have a wonderful new year. despite the covid chaos and inflation fierce, the dow is up -- fears, the dow is up. so could markets is set new records in the new year? joining me now, delancey strategies president jared levy, jared, what do you think's going to happen? are we going to go up, be flat or go down? >> i'm following you too. i'm a native philadelphian. in terms of 2022, i think early on you've got to play the long side. i just got done writing my year-end report, i talk to a lot of analysts, and it's risk on right now. omicron's obviously looming. you know, consumers right now,

they're feeling ralphed, right -- we're all tired and frustrated. but the money, the stimulus, the cash is still there. and, again, the reasoning to buy is still there. you know, i think -- not to rattle on for a second about omicron -- it is a variant of an existing virus, not a new one. david: right. >> i think we're probably going to see a lot more of these. i think the point is consumers are like, you know what? we've got this. the trends continue to look better, the severity seems to decrease, you know, inoculations are rising, so i think -- david david okay. let's move it off of omicron, because rates are going to go up in 2022, we know that. the fed has said that. will rising rates draw some of that money from the stock market to people who want a safe bet with assured interest rates? >> it depends on how quickly it moves. right now, assuming the

trajectory that the fed has given us, assuming we get the few rate hikes we do in 2022, the consumer -- the investment dollars will continue to flow into equities. we're seeing right now there's not a big differential for risk premium. if you're taking a lot of risk, you're not getting paid a lot to do it. and there's a lot of money piling up getting ready to go into initial public offering, private equity offers, and those trends are things you see when folks are not ready to dump their stuff into debt securities and call it a day. it depends on the expediency, but i've got to say i think the trajectory remains the same. i think it'll allow inflation to run a little hot here. if it really takes off, then -- david: right. well, we have inflation, omicron, rate hikes, we also have another dark cloud. two-thirds -- you mentioned ipos, two-thirds of all the ipos issued in 2021 are

performing less well than at their initial price. is that a dark cloud that concerns you? >> you know, i think that plays into the tech theme, right? a lot of ipos this year, you know, a little bit of this sort of dot.com, bubbly thing people are talking about. a lot of the met metaverse related companies, the tech related companies. it's tough to say, david. i wouldn't blame -- i wouldn't take the blame out on all equities. i think ipos haven't been that great. i think they caught the market, investors got a little excited at the beginning and came to their senses afterwards. yeah, continue to see those trends across all sectors then, yeah, that probably means there's a problem. david: jared levy, always a pressure. thank you -- pleasure. thank you for coming in. >> happy new year. david: happy new year. more after this, you are

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david: slight correction to something we reported earlier. apple saying new york city close are not closed but have limited services. dow is steady with 134 points to the upside. good day for dow, not so much for nasdaq, s&p, jackie deangelis is here to take you through the next hour. we need your jackie d effect. jackie: good to see you david. this is "making money," and i'm jackie deangelis in for charles payne. renewing hopes for light at the end of this pandemic tunnel if you will and an economic boom as well. our panel of experts have insight you need to capitalize on the