84% of the world population has a smart phone. don't forget to check us out on spotify, search varney and company and click that button. what a show. jake paul blue me away. what an intelligent dynamic guy. he's going to be back. dave: dave portnoy wasn't bad. today's top stories coming at us from opposite parts of the global. the winter olympics kicking off in beijing, a spectacle of global tensions about china's human rights abuses and russia's aggression toward ukraine and news of a cyber hack of a major company being linked to china and the white

house dodging their own predictions of a dreary jobs report with strong numbers. how do they miscalculate? i will talk to larry kudlow who knows about those predictions. for mcdonald's ceo, and those us payrolls, edward lawrence has more. >> reporter: the president is taking credit for this booming economy. he did not mention inflation in his remarks. he's talking about how large companies added large investments that will create jobs. he's taking credit for that but this big number can be attributed to a revision the bureau of labor statistics. they revise the benchmark date they base the jobs report on in march of this case.

they go through the employment count and revised it and the previous in november and december. they curated a bigger number this time. they revise seasonal adjustment factors. that changed the implement of us. you see big revision down. we are talking june and july numbers down by 5000 jobs. it increased numbers of november and december by 709,000 jobs showing a downward trend. the labor secretary says this is normal. >> why such a big revision? statistically that is what we've seen the last 10 years so there's no significant adjustments we haven't seen in previous years. >> reporter: president biden

takes credit for this economy. >> president biden: history has been made. alongside the largest drop in unemployment in a single year on record, the largest reduction in child poverty in a single year in the strongest economic growth this country has seen in 40 years. historic economic progress. >> reporter: he brushed over the fact that cpi inflation is at 7% wiping out job gains and wages because everything is more expensive and industries that created jobs, retail trade 61,000 jobs above february 2020 levels. and 511,000 jobs, you s huge gaps from february levels, leisure and hospitality has 1.8 million jobs to go. education, health and human services has a long way to go.

this gives federal reserve more ammunition to move more aggressively to tackle that going forward because the economy is adding more jobs than previously thought. dave: we see that in rising interest rates. what was the white house thinking when they were warning us about a jobs report, here is jen psaki speaking on monday. >> we want people to understand how the data is taken, and the assessment and we may show job losses because workers were out sick from omicron. dave: here is fox news contributor. where they terribly misinformed or was there something else going on, edward said we have a new way of calculating.

people are suspicious after the misinformation from the cdc under the federal organizations you can't blame people being suspicious. >> not the worst thing to under promise and over deliver or rusty advocates that didn't work as well but anybody the didn't have a job yesterday that has one to say, that's a good job and let's hope it continues. the president's job is to take credit for everything good and blame everybody else for everything bad and that is what they do. i get it. my biggest worry is going forward. we are $93 oil, and.9 percentage interest rates. that slow historically but when you have an economy and market that use up much lower that is something to watch closely.

and oil, $150 billion over a 1-year period because of what they do at the gas pump. if that's not resolved, whatever numbers are out now are heading south. dave: i don't want to bury the good news. not only was the job number good, but labor participation, 62%. that's a fine increase. it is still below what it was pre-pandemic, it was 63.4% in january of 2020. it hasn't gotten to that level and we are $3 million short but we are going in the right direction and that was during the laquan phase when so many were calling out sick. >> more people heading into the workforce is a good thing. to get everybody back would be a great thing.

the best example i am here in florida. it is so different from other places around the country. we were open up so long ago. it is still not easy when you see headlines, omicron and numbers going up and down but what a difference. of the country can get back on get the heck out of the way footing and let people decide on their lives instead of government would be so much better and hope and we are going that way. which kind of is weird. dave: to emphasize most of the countries in europe were shutdown harder than the us particularly with regard to states like florida and texas, we have different rules for different states. a lot of european countries

with their relief of lockdowns have a long way to go to catch up to you in florida but we had a changing attitude on the federal level, the supreme court shutdown vaccine mandates on private business and change of attitude in terms of lockdowns. they said we will not lockdown even though omicron will be serious but much less deadly as bad as the death are it is less deadly per person who gets infected endless time in quarantine if you test positive so they are good developments. >> the movement is going the right way and you keeping is processed we don't hear of another variant. of this goes goodbye i think we are headed for a good thing but it is imperative to recognize

this inflation thing is huge on the energy front and if that doesn't get figured out, if interest rates keep going higher the cost of capital goes up and if there's anything i'm watching closely, housing stocks getting hit hard, one.9%. a lot of variables going forward and because of the decision-making in government and i say it as loud as possible. if they would get out of the way and let us be and trust the people in business to act in our best interests without screwing each other we will be in better shape, hitting us over the head. dave: look to florida, look to texas. these are states that are doing and growing. oil is getting a big boost by the positive economic numbers,

oil jumping to $92 a barrel, $100 predictions are pretty easily insight. he is senior analyst phil flynn. you have said before and it looks closer now, $100 oil when? his mike is down. >> is that better? russian collusion trying to cut me off. what we are seeing in the oil markets, $100 barrel oil. the options for $100 is really high right now. the $100 a barrel was later in the year. which is the resistance, what gary brought up, you will cease resistance on the demand side. that cools off prices. we get into a conflict. of russia and ukraine get into a conflict we can see $100 a

barrel faster than the end of the year. dave: the white house to ease up on restrictions they have been put on and on since biden was inaugurated. do you have any hope in your heart that they will try to bring oil prices down? >> they are getting the message. they tried to ignore the energy industry which according to the biden administration, they did not engage the industry at all. i say they canceled it, they canceled the energy industry, didn't support us in the election so we will regulate them and when we need more oil we will ask opec. now back to the us energy industry and they are not falling for it. you like us today, what will you do to us tomorrow. dave: how badly have the

restrictions for domestic production? the overall numbers were down 2 trillion barrels a day in terms of domestic production but how many wells have been capped as a result of this? >> because of omicron we had 4000, a lot more wells that could have been brought on but they gave up, but concrete in the manned will never be produced. when you go after the energy industry, demonize investment, you are left short of supply. dave: it is dangerous in the wintertime. good to see you. opening ceremonies in beijing taking off the 2022 games, nancy pelosi is warning our athletes not to speak out

against china's communist government, what happened to free-speech? ♪♪ it's going to be a long long time ♪♪ ♪♪ i'm a rocket man

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dave: a cyber attack on news corp. believed to be linked to china target emails and several journalists. this is pretty close to home. >> reporter: news corp. was hacked and all signs point to china. the attack targeting emails and document of employees including journalist of the dow jones in the new york post. after the attack was discovered news corp. alluded law-enforcement and hired cybersecurity form to support an investigation. what they found points to china telling the wall street journal, those behind the secretary have a china nexus. we believe they are involved in

espionage activities to collect intelligence to benefit china's interest. it has not been determined how the gained access. this news coming as the lyrics begin in china and concerns around the controversy ranging from cyber security to human rights issues continue. china has denied that he carries out cyber attacks but according to christopher ray beijing runs a massive hacking program and currently the fbi has 2000 active investigations related to allegations connected to that right now. dave: you are never sure when you send out an email whether someone is looking at it. meanwhile the olympics kicking off with xi jinping and vladimir putin in attendance. nancy pelosi morning american

athletes not to protest the chinese communist party while in beijing. >> you are there to compete. do not risk incurring the anchor of the chinese government. they are ruthless. stuart: let's get reaction from brian master of florida. you don't seem concerned about incurring the risk of retaliation from china. what do you think the speaker pelosi's words? >> you might hear me say something never second. speaker pelosi is right and she's wrong at the same time. there must be chinese threats that take place if you speak out against the communist party but we are americans. we don't turn tail and run and hide in a corner and start crying when somebody friends us. we look them in the eye, if our

athletes want to represent america, that is what they should do on the world stage, china standing against the communist country. slave labor and everything else we do as a kindest country. dave: the winter olympics, we won't the basketball but if it's freedom, he would not listen to nancy pelosi. and they may speak out anyway. >> there would be. he inspires. inspiration is something you can't buy or sell. it can only be created by the way people go out and lead it. he's leading on that issue. you can believe he would inspire athletes not just from the united states of america but across the globe.

why haviland pics in a communist country that is enslaving and reeducating its own people? dave: wanting to warn people that they could be in trouble. you do not touch a hair on the head of our athletes. why doesn't she say something directive the communist government from what they might be planning? >> she's the definition of the weakness taking place in the west. what is happening with cyberhacking, cyber terrorism, the same way pelosi is looking at those issues, we don't want to incur the wrath of the chinese instead of looking at it as absolute. if you hack one of our companies, and use the satellite to do that we will market out of the sky.

if we use this infrastructure we will make sure it is terminated. they don't have the ability to stand strong. dave: not just a partisan issue but a poll that came from axioms. 80% republicans, and 67% of democrats don't like the fact the communist china is hosting the olympics. it is not as though this is just republicans saying it. most democrats feel the same way. >> and they should. let's take china and russia which are appropriate been flows. they fundamentally stand against democratic values. they are the opposite of that. why give them the world stage?

dave: you have vladimir putin poised to invade ukraine with 100,000 russian troops on the border. do you think he's making a big show? is that preparation for invasion a coincidental to what is going on in ukraine? >> i respect him as an electrician. he's incredible he strategic. he has engaged the responses of the west with crimea and syria and venezuela and host of other issues. where he has brought global reaction and assist he can thrive in the face of what happens. nothing he does is on accident. this is tactical. let's show what he has been able to do. he has been able to test the salt of all of nato by doing nothing more than moving his own military around his own country and belarus and see how we care nato allies are.

dave: are you going to watch the other games? >> i will always watch our athletes and cheer for our athletes. i will never cheer for china. dave: thank you for being here. unlikely allies. democrats new york representative alexandria ocasio cortez and florida republican representative matt gaetz teaming up to target facebook. more on that when we continue.

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dave: we coined the phrase yesterday. facebook face planting. a lot of people own it, what you own goes down so much losing $237 billion in market value after dismal earnings

report, the largest 1-day drop moneywise in stock market history. kelly o'grady is here with what is next. >> reporter: bad news. more pain may be on the horizon. the tech giants testing allegations in a suit from the ftc. yesterday, unlikely allies aoc and mass gaetz called for meta to be broken up. it is part of a broader call for regulation. i spoke to senator blackburn's team and she said, quote, a big isn't necessarily bad but hearings on the consumer protection subcommittee has shown a light on the company's bad behavior so i'm not surprised they are concerned. what impact does this have? the ftc aims to reverse that facebook employ to build or bury strategy.

i want to highlight 70% of transactions fail proving this as anticompetitive will be difficult. we just don't know, and the former ftc commissioner tells me prevent counterfactual is a tall order. >> we could see facebook breaking up but there's nothing easy about this case. it will involve a difficult effort to assess what would have happened otherwise. the ftc is placing every bet on the idea that these acquisitions forestall the emergence of significant rivals to facebook as a social network. >> reporter: a meta-spokesperson highlighted the comments on competition from tiktok. it will take years of litigation. meta will look different at that point but the idea that a monopoly can harm consumers when it's product is free signals tech platforms are not invincible.

dave: meanwhile two tech giants, different stories in the past 24 hours. facebook taking a huge hit but amazon found in bezos is adding $20 billion to his bank account after the retail giant posted blockbuster earnings. it is a contrast between the countries. let's talk about meta. they made big hype of that name. this is the new meta-universe. is it showing the meta-universe is more hype than reality? >> it will be a lot of hype. i'm not a fan of it. the biggest problem facebook has is when you start losing people they don't usually come back. momentum, talking about facebook is about how many is do they have? how many involved? then you and things like

advertising where apple makes you opt in and everything else going on. washington dc pounding away at you on a daily basis. it is going to go below $200 as we move forward. dave: washington is pounding on amazon saying they are too big. amazon is a tale of a different city. 13% in one day. they had been off. they lost their 3000 point long ago but they are back again above 3000. $3,140 a share. they live in the real world, not the meta-world. they deliver real things to real people. real people do the delivery. i don't mean to sound like warren buffett, but it's nice to buy stock in a company that does real things and lives in

the real world. >> the trucks are all over my neighborhood all day and all might. i will give you the bad news on amazon. the stock hasn't done anything in 18 months. the good news is i believe wall street, the way they were talking about it before the earnings came out came in decently but not as fabulous but they are here to stay. they built a magnificent ecosystem. much more competition for facebook going forward. tiktok is doing a real number on them. facebook, you can't monetize it as much as other things they do. a rough move. amazon is fine. the biggest problem, amazon is so big and tough to move and grow a business the way you

used to when you were so gargantuan. they deliver the goods, and open intended. dave: who has more room with nasdaq? you see nasdaq is up one% despite a drop on the dow? a significant drop in the dow. it looks like investors are taking tech cues more from amazon and apple then the meta-world. >> today yes. amazon in simply, a lot of things that were getting hit for the last couple weeks have bounced unlikely. better tone in the growth arena that has been squashed over the last few months. that is where i live and i am a growth stop guy. i haven't had growth stock in months. hopefully we come out of this sooner rather than later. dave: the nasdaq is down when you have spikes in interest

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dave: to california's crime wave. the los angeles police chief said the district attorney must change his policies to combat crime in a city that is about to host the super bowl. jonathan hunt has more from la. >> reporter: very rare for the police chief to speak out in this fashion. his words carry weight. as the city of la real from the recent murders of two young

women, brianna kupfer stabbed to death when she worked at a store and tid theyis and smash and grab robberies, the chief is speaking out telling us the district attorney's policy of not using sentencing enhancement for violent crimes is hurting the city he is supposed to protect. >>'s office has responsibly to ensure they are using every measure that is afforded them as prosecutors with pursuing justice for those who prey upon others particularly violent crime and chronic offenders. >> reporter: the office did not respond to requests for comment but here is what he said at his last press conference. >> punishment based approach does not serve us well.

>> reporter: the chief told us the 0 bail policy introduced by the courts to reduce the percentage of the prison population is emboldening criminals making them think they could just get away with their crimes. >> the bravado like nothings going to happen to me is discouraging to a community. >> reporter: when the chief spoke to as he had just returned from the funeral of lapd officer fernando arroyos who was shot dead on the street when he and his girlfriend were househunting for a home in which to do that. dave: thank you very much. california not acting together to fight crime but our next guest says florida is leading the way of holding kernels accountable for their actions.

scott shelly joining us now. what is florida doing differently? >> your intro showed two realities across the country where to have attorney general ashley moody is not going to let that happen on her watch. she has move forward with a number of initiatives in terms of a task force that is most active in the country two months in and a number of legislative proposals that seek to define those thefts, they are becoming more brazen and violent and putting retailers at risk. dave: because florida is tougher on crime they are not having smash and grab problems. you don't like the term shoplifting.

this is more than shoplifting. this is organized criminal behavior. >> the narrative that summary wants to put a 15-year-old kid in jail for mistake is completely off base. this is organized retail crime, violent networks. this money is not being fed back into the community. the proceeds are going to the drug trade and human trafficking and more violent crime. it puts our communities at risk and our retailers at risk. retail is the backbone of the community. they should be able to work safely. dave: many people don't realize that buying stolen goods is a crime in and of itself and these smash and grabs, it is organized criminal behavior, they gather together the goods,

find out let to solo stolen goods, that's the first part of the secondary that is going on in the third part is the unsuspecting people by the shop on internet sites that are selling stolen goods, how would you attack that problem? >> the first step is to take commonsense steps to identify who is selling high-volume and legislation is moving in florida to do that and we are working with market place partners to do that. if you get two air fryers for a wedding gift and want to sell one online it makes sense. if you go on a site and someone has 30 of them in a box brand-new it raises questions. we ought to know who the seller is and that is where that is headed. it is a collaborative approach between marketplaces and retailers and law enforcement.

in florida we are the model in terms of how those parties come together. dave: you have set a maximum of 20,$000 max. these guys are clever in the way they use young kids, teenagers to do the smash and grab. how about they get these kids together and sell or find out a way of selling 19,$000 worth. why did you have to set that? >> the is where the trigger comes in. what is selling more than 20,$000 you start to pick up the seller information and track that information. nothing is perfect, this is work in progress as far as how to plug as many loopholes as we can but we're not trying to

capture legitimate operators who may have small volumes. dave: it is a step in the right direction. the missouri attorney general has filed for a temporary restraining order against schools requiring masks. ♪♪

dave: us truckers letting facebook for removing a page that organized the freedom convoy. >> what will they do next? we've talked about that. big tech mobilizing to the platform the trigger protests gaining steam in canada and the united states. it started with go fund me with the popular crowdfunding platform allowing groups to

raise money through their donations. canadian truckers raised $10 million in slow donations from people showing their support and go fund me people froze their page. they want more information how it can be used in reviewing terms of service. an american version of the protest picking up steam. they want a convoy to washington dc. 130,000 members but facebook disabled the page over violating terms of service. mehta provided this statement, we removed this report violating our policies but the organizer of the group says that's not true. >> there was none of that posted on facebook. they will prove that's what it

was. it is not a right or left issue but an american issue, human issue. we are standing up to the mandate as a constitutional violation. >> the convoy is calling it censorship at its finest. what exactly is happening here? pages get pulled when big tech doesn't like them and otherwise you can do all kinds of things on these platforms, terms of service are ambiguous. dave: who knows how many you in on -- to a non-people there are. the idea that -- it is funny, last night, i missed tucker's show so i didn't see that. i can't believe it. they make these things up. >> a lot of people support the cause and don't think the truckers should get the vaccines. we are talking about this in different areas.

we are going to year 3. how much longer are we going to do this? in a truck you are in a cab by yourself. dave: that is why they are protesting. has nothing to do with qanon. eric schmidt is seeking temporary restraining orders against schools continuing to enforce mask mandate. thank you for being here. who exactly are you fighting against? school boards, teachers unions the parents, what? >> we filed 45 lawsuits against school districts across missouri that move forward with these mask mandates. they are ineffective, they are illegal under missouri law and it is wrong. these lawsuits are an attempt to pry power from government bureaucrats and return it to

parents and families. there is no study that shows masks are effective. even the most ardent supporters are calling them nothing but face decorations. we know there's serious harmful effects forcing 5-year-olds to wear masks whether it is loss of learning were increased trips to speech and language were social and psychological damage being done. it's not about data. when you follow the data the states that have mask mandate, states that have no mask mandates doing better than those that have mask mandate. it's not about science or data but power and control. they are trying to pry control from bureaucrats. dave: what we have discovered over the past two years how important school board elections are, like elections

for district attorneys. we ignore those down ballot issues. is missouri estate that waking up to those decisions? a lot of these people do represent the parents as part of the school board. >> we have parents from across the state joining together to file lawsuits against the school district. these parents had enough. they want to make decisions for their kids. the biden administration weaponized is doj and the fbi to investigate. we've got to get back to where we've been where parents and families make decisions, bureaucrats who got used to power they never should have had. it is a free country. people should be able to make these decisions.

missouri led the charge. at the federal level and local level, suing political jurisdictions and school districts forcing this on kids. it doesn't work. time to live our normal lives instead of punishing kids who have to wear masks all day long. dave: we want to talk about the vaccine mandates with regard to healthcare workers. please come back and see us again. the us economy unexpectedly adding 460,000 jobs despite omicron. we have a story behind that number, larry kudlow joining us in the next hour. ♪♪ and it's easy to customize your insurance at libertymutual.com so you only pay for what you need. isn't that right limu? limu? limu? sorry, one sec. doug blows several different whistles.

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(naj) no, we do it because it's the right thing to do. we help clients enjoy a comfortable retirement. (other money manager) sounds like a big responsibility. (naj) one that we don't take lightly. it's why our fees are structured so we do better when our clients do better. fisher investments is clearly different. ♪ it's off to work we go ♪ david: off to work we go, the u.s. economy dodging a bullet with today's jobs numbers , our top story this hour president biden speaking on a better-than-expected report, but companies are still battling major labor issues. hillary vaughn is at a construction union in upper marlboro, maryland where president biden is going to be signing an executive order next hour meant to lower costs increasing quality of federal job, hillary? reporter: hi, david. well the white house really

under-promised and over- delivered with this job report. they had been warning the job report was going to be not as good as expected because they thought a lot of people were going to be missing from work due to sick-outs caused from omicron, but it turned out that that variant was not the damper that some economists had thought it be. >> i'm pleased to report this morning, and many of you already know that america's job machine is going stronger than ever. a strong recovery and opportunity for hard working women and men all across this great country. america is back to work. reporter: but even though some industries are performing better-than-expected, construction is lagging. the industry this month lost 5,000 jobs. we talked with the president of mckinnis construction he's a third generation bridge builder and tells me a lack of boots on the ground right now is his biggest challenge and so are other things like soaring prices for raw materials, delays in

getting those materials, ultimately making construction projects more expensive. >> the biggest issue we're see ing with materials a alongside the price increase is delivery times and our schedules are being pushed. we're probably seeing a 25% or 20-25% increase in our bid numbers for a bridge pre- pandemic to now. reporter: and the executive order that biden is signing today is supposed to address some of this , speeding up projects because they're going to only award contracts to those that are training their workers well and paying their workers well. the executive order is saying this , businesses with well trained workers will be more likely to bid for and win federal contracts. well-trained high-quality workers are more productive, completing projects well and on time but the problem is, david, it's not that these construction contractors & companies don't want to train their workers or pay their workers well.

what i'm being told is they're having a hard time even finding people who want to do the job, get to work, and be trained for that job. there's just not enough people that are interested getting into the industry. david? david: money doesn't buy everything. even a trillion dollars, doesn't necessarily buy it if you don't have the workforce for it. hillary thank you very much, very interesting conundrum. meanwhile as momentum for salary transparencies builds we'll tell you what that is. it's complicating an already- tight labor market. lydia hu has the latest. it's not a phrase most people are familiar with. reporter: no but new york city is the latest to pass the new law that's going to require almost all companies in the city to post a salary range along with their job posting. it's going to apply to all businesses in the city with five or more workers so you can imagine that could be your dry cleaner, all the way up to major financial institutions, that will have to make these disclosures, just on their job posting, goes into effect in may it joins some other states that

have passed similar measures in recent years you can take a look at this graphic we have here because you can see california, colorado, connecticut, maryland, nevada, rhode island and washington state all have these types of laws in place. south carolina and massachusetts are considering similar measures now, david, supporters say it's going to help close the gender wage gap but business advocates in the city we've talked to, they have grave concerns about how this law is going to impact hiring here. i talked to a leading business group here in the city, it includes 300 members ranging from jpmorgan to blackrock and bank of america, and while this business group say it supports pay pairity and transparency, they want there to be recognition of the progress that's already been made for decades without these types of laws. we're up to 82% of a woman's median earnings matching a males counterpart. certainly there's room for progress here. there's no disputing that but the business group says this law is simply not the answer.

employee compensation is not an exact science, there can be legitimate reasons why people have outlier salaries or room to negotiate, particularly among the financial sector, which is concentrated here in new york. >> what happens if an employer hires somebody at higher than the maximum salary we posted? do we have another class action lawsuit? we're already a center of litigation which adds to the cost so there's a whole bunch of reasons why this is an in impractical solution. reporter: this business group points to the lack of clarity and they question how it applies to remote workers which is our reality now, david. this law implies that businesses would have to pay the same amount to software engineers based in brooklyn as engineers based overseas so not really framed around what we're facing right now in this current work environment, so they are really hoping, david, the city is going to reconsider the implementation come may. i should also mention, deep

fines for not following this new law, $125,000. so when you consider this applies to even businesses with only five workers that's a huge sum of money. david: so many things it comes down to one size does not fit all. we're a country of individuals and everybody has a different background and that they bring to whatever it is, a job or a vaccine or whatever it is. one size doesn't necessarily fit all. another example of that. lydia hu great to see you. thank you very much. some of our favorite locations like mcdonald's and starbucks are feeling the heat of inflation forcing them to raise their prices. joining me now is former mcdonald's usa ceo ed rensi. ed great to see you thank you for being here. that report by lidia is just another example of how companies , despite all the differences between the millions of companies in the united states, are forced to adhere to squeeze themselves into these one size fit all policies, and it just doesn't

work, does it? >> it absolutely does not and it's tragic, because it forces people to make decisions that they know are wrong and they have to do it anyway, because they're scared to death of what the government whether it's state, county, or federal may do. one size does not fit all as you said very clearly there's a lot of businesses in the united states and all are very different with different needs. david: one thing that does fit all is that inflation hurts, whether you're rich or poor or in the middle inflation hurts and i think of those franchises, those mcdonald's franchises that we talk about apple's 40% profit margin. some of these franchise have a profit margin of less than 5%. i mean, how are they coping with inflation? >> well it's very difficult. in fact there's been a recommendation by mcdonald's corporation which frankly is a very well-run company, but 90% of the businesses are owned by franchisees and very close to their customers, they live on

main street, and they understand what their local costs are. mcdonald's has recommended i think somewhere around 6.5% increase next year. the reality of it is every franchisee gets to decide their own prices based on community need. new york city is certainly different than cat tis, ohio for example, where there's one mcdonald's restaurant. they will make a decision, they know what their customers can handle but inflation is driving every restaurant in the united states absolutely crazy. when you look at the fridays of beef and chicken, its gone up to so substantially. you know, a 40-pound case of chicken used to cost around 38 to $45 and now it's $178. david: yeah. >> portion sizes are shrinking, prices are going up. it's just in sane what's happening in the restaurant industry, and it's also true of every other small business, they are all suffering terribly from this federal inflation. david: yeah, and of course the feds themselves don't want to admit they did anything wrong the president is putting the

finger on meat producers, for example. what do you make of that? mcdonald's meat is a big part of what makes mcdonald's what it is do they, do your franchisees, do they blame the meat producers for inflation or somebody else >> i don't think so at all. in fact, mcdonald's goes right straight to the producer to buy their product and has their own discrete distribution center, as do most major chains. the price is always about cost- plus and in fact, a lot of companies they limit how much profit any big supplier can make for example, we were buying potatoes french fries, we would say what's the cost of the product and we'll let you put a price on there so that you make about two-tenths of a percent profit because we were buying so many pounds that it was an enormous profit margin for them, so it's all negotiable i think the biggest single problem we've got is the trucker strike or not the trucker strike but the trucker shortage

and the disruption of imports coming into this country. you look at all of the railroad cars at union pacific getting broken into, the trucks sitting alongside the highway waiting to get loaded. this trucker situation is enormous and having a big impact i don't buy this business about cartels in the food business at all. david: right, right. meanwhile, you guys have to hire people and the only way you can hire a lot of people is by raising again because the profit margin is so small with a lot of your operations, how do you do that? how much can they afford to spend before they have to start cutting their workforce? >> well, two things are going to happen. one they will cut their workforce and the other thing is they raise prices. it takes a certain amount of people to run these restaurants and you just can't get along without them. you need sous chef, cooks, servers, dishwashers and there's a lot of components to running these restaurants but think about this. 15 years ago, the average number

of people working in a fast food restaurant was somewhere around 55-65. it's down to 35 now, because so many of these jobs have been replaced by technology. there's companies out there with software platforms that are just eliminating people like crazy. david: well, and that's partially a good thing, but again, it's not a good thing, it's not a problem when you have so many unfilled jobs like you do in the united states but it may become one down the line. finally very quickly, on the vaccine mandates and other sort of restrictions that come in from the government related to the pandemic. is that easing at all around the country or still enforced everywhere? >> well i'm vaccinated and i've had my booster shot and i recommend people do it, but to force people to do something like this , i think go against the very grain of the united states, and i see it easing up in most of the republican states and getting tougher in some of the democratic states. i look at illinois and new york and california. they just are out of control

with government oppression on this vaccine business. and by the way, it really isn't working all that well, if you take a look at the jobs report, if you have any belief in our numbers and in fact i think there's a lot of noise in there, it says that we're recovering from this covid thing, let's lighten up a little bit and let our bodies handle it instead of government handling it. david: that sounds like good advice. ed rensi, thank you very much appreciate it. coming up, crime continuing to surge in the big apple with the nypd releasing updated numbers on crime in new york. we break it all down for you, next.

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david: well look here, folks we got all green on the screen. the dow jones industrials up 55 right now, came from a negative point as you can see on the red on the screen but it's green now , s&p is up and nasdaq is up more than 1.5% right now, nasdaq is just zooming along, a lot of it has to do with amazon which at one point was up 13%. let's see , amazon up on the screen that's despite all that bad news on facebook. so, we're doing quite well here. meanwhile, crime is surging in new york city. that is not doing well and almost every major category, new

stats from the nypd showing car thefts and robberies out of control. clearly, just out of control since last year, fox news correspondent david lee miller with the very latest. david? reporter: david, in the wake of a meeting between president biden and new york city mayor eric adams to discuss the surge in the number of shootings in the city, the nypd, as you point out has released the latest crime statistics and they are not good. the data shows that last month, compared to the same period one year ago, overall crime increased almost 39%, breaking down some of the numbers now, rapes increased 27%, robberies 33%, fill on it assault up 33%, auto theft increased 92%. the one statistic that is not as dire, murders were down 15%. meanwhile, a rally held this afternoon protesting the policies of manhattan's new district attorney alvin bragg, who critics say is soft on crime

, bragg has come under fire foretelling prosecutors only to pursue jail time for the most serious offenses and he's now apparently changed course and issued what his office is calling a policy clarification to prosecutors. a portion of that newly-released letter says a commercial robbery with a gun will be charged as a felony whether or not the gun is operable, loaded or a realistic immitation and despite bragg's modified policies as of a short time ago calls for his resignation continues. >> he needs to be removed from office, resign, or withdraw his policies. he's corrupting the office of the district attorney by imposing his personal ideology into the office. reporter: and it's not just new york city that is experiencing a surge in crime. a number of major cities are se. they include philadelphia, chicago, and washington d.c.

david? david: david lee miller thank you very much. well the recent crime spike in new york is having a major impact on business. apple metro chairman and ceo zan e tankle joins me now. by the way you were supposed to be here yesterday and preempted by the president's meeting with the mayor of new york and the governor of new york on crime. what did you think of that meeting? what good came out of it? >> none. none at all, david. it was all rhetoric and all bluster. what does the president know about crime in new york city? what does he know about crime, period? he's always lived in a bubble and he's a politician persona tied and he came here because it was a great press optic for him. he knows nothing about it, and nothing was accomplished other than rhetoric. in new york, we operate 26 restaurants, street front, people walk in. there's crime everywhere,

there's an atmosphere of crime everywhere. not only is it tough getting employees, guests don't come out people don't come out. there's fear across the city in all neighborhoods. the issue is of course prosecution, which your previous guest just said they aren't prosecuting and want to get high target, value, felonies, violent crimes so tell me, david. what about the guy that jumps the turnstyle, or somebody that comes into my restaurant, eats for $200, and says i'm not paying you and gets up and walks out. they're okay. let them go because they're not high-value targets. they aren't the high profile, you have to kill somebody or be really a violent crime to have one of these prosecutors prosecute. it's the escalator of crime. you start with jumping the turn style, and then you go on to snatching a piece of jewelry, or taking a cvs --

david: well and i thought we learned that lesson from years ago when guiliani cleaned up the city. that's what's called the broken window theory. you stop the small crimes and eventually the big crimes go away as well, but we're going exactly the opposite direction, except the mayor, eric adams when he was running for mayor he's a former cop. he talked tough on crime. he was saying the right things, but a lot of people are saying he's not acting tough right now, and that he is mayor. what do you think? >> i think that he's, as i said to you last time, david, well intentioned and trying but if they don't prosecute somebody who jumps over the turnstyle, then the cops arrest and then go stick their finger in the face of the cop who arrested them earlier in the day. the model was out there. you just said it, david. it was called the broken windows of policy and the model is there we watched it work, right in front of our eyes, and now we're watching it break, again, but it's not the window.

it's the system that's breaking. the entire system, and it's crazy. it's crazy a city like new york city that this guy bragg, whose the d. a., he should be arrested. get the feds to arrest him and put him in jail for dereliction of duty. david: instead the governor says we gotta give him some slack and i just don't understand why we don't give cop s that slack or innocent new yorkers the slack who are being beat upon by the criminals out on the street, and you know, you've spent your life helping out law enforcement in many ways with your charity work, et cetera and we've gone to various events together dealing with law enforcement. two cops killed in the month of january. five or six cops, i believe it's now six cops that have been shot since the beginning of the year. what is happening with the moral of the mores in new york? at least everybody came together for the funerals but they must be desperate.

>> well, ironically, it's a certain kind of mentality, a certain kind of person who joins the police force, it's not to abuse or beat up or abuse their authority. it's to help, as you read about one of those police officers from harlem joined the police force because he thought he can work in the neighborhoods and be helpful. so the morale ironically, amazingly, is still there. they still have that mentality but they feel their hands are handcuffed and they need to be given freedom to not only arrest but put people in jail. here is what i know, david. david: very quickly. >> that is if a guy is arrested and he's in jail, he's not committing crimes. that's what we know. david: absolutely it's very clear. zane tankle, thank you very much i appreciate it. good luck to you. well the backlash against mask mandates in schools is growing,

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david: breaking news, sources close to cnn have revealed new details in latest drama involving jeff zucker and former anchor chris cuomo, they leaked those details to other than our own charlie gasparino who joins us with details. charlie: based on what i'm going to tell you now, david, the evidence is building that zu cker's exit from cnn had a lot less to do with the consensual romantic aware with a subordinate, allison gola st, and much more with some of the other stuff going on at the network over the past two years, so let me

just let me just read some of this stuff and we can bounce it around a little bit. fox business has learned that chris cuomo is said to be planning to file an arbitration case against cnn imminently. what we understand is cuomo is prepared to argue that his dealings with his brother, the advice he was giving, the add vase that he believes he was telling zucker he was giving were not that materially different than those that jeff z ucker and allison golast had with andrew cuomo. they were very tight with andrew cuomo over the years. all you son was a press secretary for andrew cuomo and there was plenty of back and forth and talking and advising at least that's what chris is going to argue and his lawyers i should say during the pandemic particularly when they wanted governor cuomo on the air a lot, so this is going to be key to his arbitration claim. here is what's kind of interesting about this.

cuomo, at least according to what i understand his thinking is now and his lawyers, will seek a payment for his legal bills. they are pretty substantial we're talking six figures times three, probably. a statement from cnn clearing his name and payment of his contract, which i understand is $20 million, now here is the interesting thing or whatever is left on it. i think he just reuped i could be wrong on that so it's there. here is what's interesting. at least as of now and who knows what happens when lawyers get into chris' face. he won't agree to a monetary settlement if it contains some sort of a clause where he can't clear his name, that he really believes that what he did with his brother, was disclosed to zu cker materially, was golast knew what it was and how he was dealing with his brother was not that much different than

what zucker and golast were doing with andrew cuomo. they were all close and there was a lot of back and forth. other than that in addition to that, david, what i've also found out is that there's a lot of talk about him dropping the dime on their relationship. that never happened. just backup on a little bit of the timeline here. chris cuomo gets fired. then, the law firm korath swain does an investigation. they tried to interview chris cuomo, he said no. he's lawyering up, he's going to file and wants his money. essentially from what i understand, the notion of the affair came up during that investigation separate from him, that he didn't leak it. he didn't say well look, look at these two, you're throwing me out and they are having an affair. this came out separately and it's going to be an interesting

yarn like how it came up, why it came up. there's a lot of intrigue in cnn between jeff zucker and jason ka lar, whose his boss, so stay tuned on this thing. this is an interesting story and on top of it all, david, i know it's interesting that chris cuomo is fighting back, wants his money, he's alleging this. there's a merger going on here, that's a bigger story. they are telling me i gotta go but i gotta make this point. discovery wants to merge with the at&t assets that are being spun off including cnn. it is weird that all this comes up as they have to get this through the justice doj apt i trust so just stay tune on this. david: there's a lot there, bottom line. charlie good to see you thank you very much. meanwhile growing backlash around the country surrounding kids wearing masks, but so much damage has already been done. attorney and parent advocate mod

maren joins us now to talk more about this. what's your biggest problem with masking, maud? >> my biggest problem is it's cheating children out of a normal childhood for no benefit. we know at this point because we have entire other countries and other states to compare ourselves to but states like new york have been imposing this burden on children unnecessarily. david: and they don't seem to get it. that is, when you talk, i'm sure you talk right in the face of these bureaucrats responsible for the masking policies. they don't acknowledge at all the harm that can happen to kids or at the very best, what they say is that it's nothing compar ed to what the harm could be done if they catch covid, correct? >> at this point, we see every day, parents in new york city like myself with children in the public school system and parents throughout the blue states that have been masking children see everyday public officials break their own rules, they go

to the super bowl, kathy hochul our governor was touring prince harry and meghan markle around our state not long ago all without masks because the way human beings interact with each other most successfully is to look at each other's faces to smile at each other and two and three-year-olds and teenagers in new york city have been deprived of that ability for a long time, and it's no longer justifiable. we know the kids are at the least risk of covid. unvaccinated kids are at less risk than vaccinated adults, and we're imposing the harshest burden on the population with the least risk, and in new york, i'll just say, families are really speaking with their feet. 75% of schools enrolled fewer students this year than last year in new york city which is the largest school district in the country. i hear from people, one or two people a day that they are moving out of new york city because its become an intolerable place to live.

david: i hear the same thing from my neighbors. the irony is while our freedoms are being restricted more and more by all these mandates and regulations, the restrictions are completely off the criminals they're free to rome and do what they want and steal from drug stores up to $1,000 or whatever how is that affecting your neighborhood? you live in soho, which used to be one of the most she-she neighborhoods in manhattan. how has your neighborhood been affected by the crime surge? >> there are no neighborhoods in new york city that remain un affected by bad policies and kids in particular absorb these bad policies. we have a lot of children in new york city commute to school by subway. many people use the subway but for those who are part of the laptop class who can stay home, some of the harshest restrictions haven't really impacted them personally, but working people and children who have to get to school use the subways and they've become less clean and less safe and

actually really scary at times, and you know, that's unacceptable and it's part of what is driving families out of new york city, and it's something we need to fix and i can tell you that parents are talking about the mid-terms. parents are talking about a change in leadership in new york city, because we need different direction in our city right now. david: i just wanted to talk about that for a second we just have about 20 seconds but you're a democrat you're not a republican and people voted for , for example, this radical d. a., who won't prosecute crimes. do you think that finally, voter s in new york and other liberal states and cities have woken up and will change their voting habits? >> i think it's a slow process the waking up. some of us have been there for a long time but i see it everyday more and more people realizing people like me who used to call themselves progressives realizing that what passives for progressive policy right now is not good for us. david: yeah and it's not progressive. it's regressive. we've been there, done that. it didn't work in the 80s it's

not working now. time for a change, maud maren, thank you very much for being here appreciate it. well larry kudlow is going to be joining us next to discuss today 's very surprising january jobs numbers, larry is next. >> ♪ may for path be the sound of your feet upon the ground ♪ trelegy for copd. [coughing] ♪ birds flyin' high, you know how i feel. ♪

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david: so, where did the white house get the idea of a bad jobs report? were they miss informed from the beginning? because they were saying it was going to be bad earlier in the week or did they just play down a report that they knew be positive to make it look even more positive? joining us now is kudlow host larry kudlow himself. so you were a part of all these things. how could they be so miss informed earlier in the week? larry: there's a theory and rumor in washington. mark zandy, whose the ever-

present justification excuse by this terrible policy -- david: their capitalist. larry: he runs the adp, which did fall by 300,000 or some such thing so he put the white house on alert. he's the only wall street economist that actual i actually talk to -- david: so he got it wrong. larry: he always gets it wrong he's a very nice guy by the way but one of the worst forecasting records in the history of the profession but i must say, regardless of mark zandy, first of all the white house can't even get that right when they think numbers are going down but putting that aside it was a blow out number and besides the 467,000 payrolls, the two prior months, david, were revised up by 70 9,000, so really, the level of jobs went up almost 1.2 million in the month of january. david: and labor participation was up too. larry: indeed. david: we should mention by the way they are still below

labor participation and the job numbers overall are still less than it was in january 2020 but it's a very, but it makes it less, it gives them even less of an excuse than they had before to keep pursuing these trillion dollar spending plans. larry: well that's a good point. that is an important point. participation rate up, employment population right up, listen to this. average hourly earnings are up huge, wages. aggregate hours slipped a little bit but the income proxy, the wage income proxy in the last three months is up 8.5% one of the implications of this report is the fed is going to have to take the bunch punch bowl away more aggressively, sooner, faster, harder, et cetera. that's what's in this report. i don't think that jobs cause inflation. i think huge federal spending that you're about to talk about, finance by rapid money creation, still growing by almost 15% per

year this is two years into the emergency, so it's the spending and the money creation that's causing inflation, and the fed is going to have to deal with this and it's going to be very difficult, but it's going to be very difficult. david: will it be, how difficult witness ill be will it be for treasury to sell its debt if it's not being bought up by the fed whose printing money to buy it up? larry: well that's an important point because they have been repressing long term interest rates by buying bonds so the answer is it's going to be a little harder and it's going to have to be cheaper and the rates going to go up. i still think the 10 year is going to 3%. i'm not sure exactly when but wherever it is today, 185, it's going to 3% and i think that's going to affect stock market multiples on the way down too, so look. it's not the end of the world don't get me wrong, the cavalry is coming in the mid-term elections and we did kill the bill, okay? and we have some other bills to kill too, but in the shorter term, you know, i think it's going to be very tricky. david: well you killed bbb, but

, but as you would say, but, but, but, there's this $350 billion bill. now i know it's less than trillion dollars, they are kind of nickeling and diming their way up to a trillion dollars with these smaller bills. is that their strategy? now by the way this $350 billion the commerce secretary just is urging now congress to get to legislating this bill saying it's necessary to compete with china. it's not about competing with china, is it? larry: no it's about spending money. this is about recouping build back better. every single thing the democrats do, they see this as sort of build back smaller. everything they do, and this money, this is 350 billion, by the way, can i just say, 350 billion is still a lot of money. david: yes. larry: let's just put that on the table. it is not paid for. there's not a single pay for in this bill. it's $350 billion to the chip

industry, massive amounts of trade, adjustment assistance and they've got another 50 some odd almost 50 billion for infrastructure. we just passed an infrastructure bill, which is not working because the epa has blocked out all of the permitting reforms that would have made it work and the endangered species about is kicking in and stopping all kinds of things, so this is just shear pork. democratic pork and i'm ashamed of some republicans who are voting for this. they should not. david: we should remind folks it was passed in the senate. there were some republicans, it was passed back then it was a $250 billion bill. now its grown to a $350 billion. it's probably bigger than that. larry: no republican should have voted for this bill. it's ill-conceived. look you have to deal with china in its entirety. i get that china is our adversary and doing bad things whether it's human rights, ending democracy, intellectual property theft, forced transfer

of technology, cyber hacking and all the rest of it. china's totalitarian state. you can't out-china china. china has a state-run economy and they direct funds to certain sectors. we can't imitate china. david: this is a ray dalio system of having the collective economy. larry: that's right, larry fin k, all these guys. we are a free enterprise, free market capitalist economy. now, you want to help out, david you want to help out, right here it comes. make the trump tax cuts permanent. david: is that conceivable that the tax cuts could be made permanent? larry: people should know you used to be my editor. david: it was a pleasure, a great pleasure. larry: but yeah, look. lowering the corporate tax rate makes us competitive. immediate expensing for business equipment write-offs makes us competitive. david: and the tax cuts of

trump era are going to be phased out unless they are made. larry: yes beginning next year , for some of the personal tax cuts, and the expensing the year after. this is what would make us un competitive, so we need to keep these tax cuts in place, they did a world of good, and look, i want us to produce at home. i want our chipmakers to produce at home. we're still number one in chip design but i understand the construction of these chip things, but throwing money at it , which means picking winners and losers and favorites and donors and so forth, been there done that. not a bad example, and we can't keep spending all this money, you know look. usually, i'm a kind of quasi- soft on deficits and stuff but i'm pretty impressed with $30 trillion. david: it's a wake-up call. larry: which equals more than gdp so they should stop. david: we've got to run. you killed the bill, now it's

making trump tax cuts permanent. larry: keep these republicans on their toes. david: larry kudlow always doing it thank you very much. coming up, much of the media ignoring the study that says lockdowns did very little to curb covid, but businesses aren't ignoring it, a live report from chicago steakhouse is coming next. ♪ move your high-interest debt to a sofi personal loan. earn $10 just for viewing your rate — and get your money right. ♪ opportunities are all about timing. so if you're turning 65 or retiring soon, it's time to take advantage of a plan that gives you more for your medicare dollar: an aarp medicare advantage plan from unitedhealthcare. call unitedhealthcare today. for a low or $0 premium, get $0 copays on primary care doctor visits, preventive dental care, and hundreds of prescriptions.

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reporter: welcome back to "coast to coast." i'm grady trimble chicago where business owners are reacting to find that lockdowns did nothing to slow the covid death rate but did a lot to hurt businesses michelle durpetti is the owner and we've talked to you a lot about the trials and tribulations of being an owner of a small business during the pandemic. you started the pandemic with two restaurants, lockdowns went into place, now you only have this one. >> that's correct. we lost our suburban location because of everything going on with covid. we just weren't able to keep two open. reporter: a recent survey from the national restaurant association looked at how restaurants are doing during the pandemic. it found that here in illinois, the vast majority of restaurant owners are less profitable, added more debt to their business and fell behind on expenses. that's not the case if you look

at the numbers in florida, but unfortunately, david, that is what business owners have dealt with throughout the pandemic because of partly lockdowns. david: god bless them, they are great entrepreneurs and we thank them all thank you very much, grady. appreciate that, well the media, meanwhile, is avoiding a johns hopkins study which found covid lockdowns to be ineffective. joining us fox news contributor sean duffy. sean we don't have much time but are they just afraid they got it so wrong they don't want to admit it is that why they are avoiding it? >> well they might be fake news , it might be misinformation , and might get banned on twitter, david listen of course they have been selling complete different story to the american people that lockdowns were good, it stopped the spread, and now they are wrong and i think they have more credibility if they came out said listen we did get it wrong. we didn't know, we apologize to the small businesses that grady just mentioned, we apologize to the doctors that we demonized who said we shouldn't lockdown, and the families who lost their

dreams, but they won't do that because they never apologize, david. david: i think they have already lost their credibility entirely, but switching to vaxx mandates something they have lost a lot of credibility on particularly with all the breakthrough cases, et cetera. shaq recently spoke about those vaccine mandates let me play and get your reaction. roll tape. >> i encourage everybody to be safe and take care of your family, i do, but there's still some people who don't want to take it and you shouldn't be forced to take something you don't want. >> no it's not forced. >> it is because if you don't take it you'll get fired. david: that is right it is forced i love the way he shot back, you got 30 seconds sean go ahead. >> thank you for speaking truth to power, yes, we are all being forced to take the vaccine and listen it's not good for some people, some people look at the data and they want to take a different path. what's interesting david schweikert what happens with life insurers? we start to see consequences from people who have ic tariff en these shots and they start to die and it won't be the

government of the media but they might take a different course in how they treat people who have been vaccinated and the outcomes that might be negative for insurers. watch them. david: sean the main thing is and i think we learned this time and again, one size does not fit all. we are a nation of individuals, everybody has different reasons for doing things. different conditions, and so forth. one size does not fit all. that's why socialist medicine doesn't work. sean good to see you, my friend best to you and your family. >> thank you, david. david: we'll have much more, right after this. stay tuned. ♪♪ care. it has the power to change the way we see things. ♪♪ it inspires us to go further. ♪♪ it has our back. and goes out of its way to help. ♪♪ when you start with care, you get a different kind of bank.

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edward jones david: well again, it's happy times with the markets right now all three indexes are up and look at the nasdaq up almost 2% right now. i guess i'm learning the cp effect charles payne, you're a good teacher. i'm getting some of your vibes here and turning this market around. charles: that's the magic word, vibes. just keep them positive. that's all you got to do. david: thank you. charles: good afternoon, everyone i'm charles payne this is "making money" and breaking right now the jobs report was much better-than-expected which is good news for main street but initially it did knock the stuff ing out of stocks. maybe though, this is all about fed pandemonium being overdone. i've got two of the best economists in the entire nation to navigate uncertainty and wild swings, meanwhile oil prices gushing sending gasoline to its highest level in eight years the pain at the pump how it could actually be pleasure for your portfolio, and we