stuart: okay, whose portrait is featured on the two dollar bill. guess? >> thomas jefferson. stuart: jefferson. i would have said that. who is it? the answer is thomas jefferson. the last time 2-dollar bill was printed in 2003. >> why? stuart: didn't catch on. time's up for me, neil. it is yours. neil: when they say you're phone any as two dollar bill. well the two dollar bill is real. what you're saying it's real. so i never understood -- stuart: wait a minute, neil. hold on a second i distinctly heard susan li laughing at your comment about phony as a two dollar bill. i heard that. >> you know, it was funny t was funny. neil: i could understand him having impression you were laughing at him. yes. i'm very sorry about that.

i will address this immediately. stuart: thank you very much. neil: you got it, buddy. thank you very, very much. the star, stuart varney. i am going to go to this after forementioned susan li get to the bottom what is going on with stuart whether she was laughing at him or with him but one of the things we are following what is happening with elon musk suddenly has taken a nearly 10% stake in twitter. everyone is asking why. it is interesting, susan. he has this on and off again nasty relationship with twitter. he has 80 million followers, right? what is he up to. reporter: have we met before? you seem very familiar. neil: i have been through a great deal. i would hope you would feign some concern. i'm back. just hurts my feelings. something to laugh at stuart but to laugh at an italian anchor is elevating it to levels you don't want to --

>> so great to see you in person. everybody is so excited you're back in studio. neil: you can tell. reporter: they're all here in spirit. in spirit. neil: indeed they're all here. reporter: you're back in time to tell us how billionaire's think. neil: this one is weird to me. reporter: you think so. a passive 9% stake in twitter. neil: how can a 9% stake be passive? reporter: that is a great question. passive for now because he is not making any moves. it might turn active when musk needs more decision making in the social media platform. he bought the stake on march 14th. that was 11 days before he launched infamous twitter poll when he asked his 80 million followers whether or not twitter was adhering to free speech. not surprisingly 70% of those followers said no, twitter is not adhering to free speech but now musk with 9%, you know is the single largest shareholder

twitter. even surpasses vanguard which is more after retirement provider. even more than blackrock, more than morgan stanley. neil: did he do it in one fell swoop? reporter: apparently so on march 14th. neil: he must have a lot of money. reporter: so i hear. when you think about it, march march 14 today he a billion dollars off that 9% stake. if you look at his cash flow, does he wants to take twitter private? he could easily bring in outside investors. tons of funds. neil: to what end? reporter: he says he wants a social media platform that allows everybody to have a say, free speech, as he says, right? does that include bringing back president trump possibly as, who knows right now. neil: by the way, how is president trump's site doing? reporter: not well. they lost two of the tech

executives. counter to twitter today which is best day. dwack going the opposite direction. for some reason despite the fact you have huge engaged community. they can't seem to launch on time. when you tried to sign up for trip social? i might be asking the wrong person. neil: i would be curious though when it hangs on a individual personality, that can be problematic no matter how engaging and popular this person is online. reporter: yes. neil: i think if you hang all your chits on that, you know you might have limited growth potential. reporter: right, some would make the same argument as well. speaking of influence, quickly bring up how rich elon musk is, how much the twitter stake how it calculates into his entire net wealth. what i see, 187 billion of his 246 billion wealth comes from tesla. throw in 60 billion in tesla

optimum. spacex is 4 billion-dollar investment. twitter is up there along with cash assets, boring and company. i don't think he has that much cash flow. you heard him say in multiple interviews whatever cash he generates off the stock sales which is used to pay taxes we know, but also to re invest in r&d and spacex as well. there is cyber rodeo taking place on thursday when he opens the austin battery factory. are you aware of that? neil: he was opening the shanghai factory but they're dealing with -- reporter: they have record deliveries in first quarter despite the shanghai closures which we saw. neil: that is surprising. i notice his stock last time i checked still up with all of this. reporter: yep. neil: all his commitments. these are his personal funds, right? reporter: the fact shanghai is up. austin is coming online this week. gigaberlin coming online next

month. analysts are still sticking with the 1 1/2 tesla delivers which is up a million from last year. neil: we share that world. susan, great seeing you again. that is susan li. also some of the developments we're following is this yield curve inversion. i know a lot of people, they hear this and their eyes just sort of glaze over here but it does bear repeating that when you have a two-year or netting you more than a 10-year it doesn't always mean that it leads to a recession. but we can say every recession has been preceded by a short-term maturity yielding more than a longer-term maturity. it bears watching. i wonder if art laffer is watching this right now, former reagan svengali, much more with us. art, what do you make of the whole yield curve fixation we have? do you follow it? say this is another bit of noise i should keep an eye on or what? >> i have followed it over the

years a lot, neil, and it has been a very valuable thing because when the long yields are lower than the current yields means there is expected decline of real rate of return on capital, which is clear sign of forecast for the market of a recession. i don't think that is the case today because the federal government is intervening so much in these markets that these rates do not reflect expected returns over the next two years, 10 years, 20 years, they just don't, so therefore i don't put much credence in the measure at all. i put a lot of credence into elon musk. i'm never been so excited as i am by him taking a position in twitter. it is really wonderful. neil: why is it wonderful? >> because i think he will be able to change the culture of twitter and make it much more open for everyone and not have it canceled all the time. once you get open networking there, you know, you're really can get a sharing of views. it's a much more democratic way of dealing with the world. i think just like bezos taking

over "the washington post," i think elon musk taking over this will be a clear improvement in democracy in this country. very excited by it. neil: you think about the "washington post" has been tough iter on him since he took over the post than it has prior. i am curious though, what you make of a lot of these billionaires right now being closely scrutinized by the biden white house, elizabeth warrens, all these others who are now saying you have been dodging the taxman on a percentage basis. you don't pay nearly what your secretaries are paid or assistants are paid and that it is gaining steam. do you think it is gaining steam? >> i think it is a loser all the way, neil. i don't think these people have a lick of sense in their heads as to what they're talking about. what we need is a low rate, broad-based, flat tax the one i did with jerry brown, to get it there. rich people are not the problem. they are our solution. look what elon musk has done

with regard to batteries and technology and these companies? look what bezos has done with amazon. these guys are the people we need to cultivate and think. that is what makes america so phenomenal is that we have these great entrepreneurs that greeted all this growth and prosperity in this country. they are not the ones are the enemies or the problem. elizabeth warren, joe biden they are the problems. they are the ones trying to stifle america's leadership in this world. it really bothers me they're trying to go after these people as opposed to sending them flowers and thanking them for all the taxes they do pay. you know when you got a client of yours paying you money you should not try to flip them off. you should try be nice to them. that is not what these taxpayers, tax spender people do. they do just the exact opposite and it's wrong. neil: let me get your take on what's happening right now in our markets, in the economy. we, you know last time you and i were chatting i said we were

still waiting for the stagflation part of the inflation. in other words in the 1970s we got both almost simultaneously. the underlying economy has been very, very strong. i think we had 11 straight months of better than 400,000 jobs gained each month but we did start seeing hints of maybe a consumer sort of a pullback in the latest spending figures. i think they were up .2 of a in february, a 10th of the rate they were in january. do you think we're starting to see a slowdown now and is it going to be like the '70ss? how do you see it? >> what we talked about last time, i think what i said we had the artificial dip down because of the pandemic and recovery coming there, a bounce-back from the pandemic, people took jobs, weren't back to work all that, but we still have not gotten to the employment levels of the pre-pandemic. our growth rates are not where we should be by any means. i think we're not having stagflation in the sense of the

'70s. i think we're having secular decline in production in the u.s., much like japan, much like germany, just very slow growth because of the huge imposition of government on the economy but it is not high unemployment. it is really very low will to work, low productivity and that long run i think is our real problem. that is much more difficult to deal with than a recession. this is not a recession. this is a secular decline in the u.s. and we haven't recovered from where we were. i don't see much prospects with these policies of recovering. neil: all right. we'll watch it closely. art, great see being you again great to see you ronald reagan former svengali, art laffer. >> thank you for -- neil: thank you much my friend. you heard of horrific images coming out of bucha in ukraine. some defy description. some targeted civilians, many with hands tied behind their backs shot execution-style but

those images alone have been a wakeup call if anyone in europe or anyone else need ad wakeup call about the brutality of this vladmir putin-led war on ukraine. some are even recommending immediately cutting off any and all energy shipments from russia as we speak. even germany toying with that. the only holdout for the time-being seems to be austria but even there, austria is saying a general phaseout of shipments of russian natural gas an oil. let's get the read from bob mcnally, energy group president, former energy advisor to president george w. bush. bob, good to have you. i don't know whether the developments we saw out of these horrific images coming out of ukraine change things but they certainly have crystallized a lot of the wrath of europe and the united states to not only call for you know, a war crime investigations but to say, it is

beyond the pale right now. i'm just wondering if they follow up on their threats to immediately cut off energy supplies, what are you looking at? >> you know, you're looking at something we really haven't seen since the iran revolution and iran-iraq war, or even world war ii. i think, neil, what folks have to realize, this is not 9/11 or even the first gulf war where the opening phase, the shock and awe of the opening phase of the conflict was contained after a few days or weeks. we worked ourselves out. this is more like early 1942 than early 1944. the one thing we know for sure is everybody is surprising everybody else and this is getting bigger. putin going big. the west seizing his foreign exchange reserves. now germany as you mentioned gets 55% of its oil from rush that, talking about limiting that by 2/3 by the end of the year, things unthinkable before. this is why it matters in the

oil economy. russia is the world's largest oil exporter, crude end products eight million barrels a day. probably only a little less than a million barrels a day is actually disrupted. way we're going, with the outrage, justified outrage, sanctions pressure, moving towards secondary pressure, we're going up to escalation ladder of 2, 3, 4 million barrels a day of russia oil being a problem and too big for the spr to handle. neil: biden administration is expecting a million barrels of day from the strategic petroleum reserve. maybe a 2 million barrels gets remove sooner than we think. we're still at a net loss, right? >> we've seen this movie three times with the spr, in november, early march. in november go it alone with friends and allies including china on this with the spr. early march , iea, all in. the price collapse ad few days. the curve gets crushed 50, 60%,

but as folks stare at the brutal math working out, seeing it getting worse not better, considering those numbers we go back up again. i'm afraid that is the direction of travel. neil: i hope you're wrong, you've been unconnellly prescient about these developments. bob mcnally following those developments. we're, in light of these horrific images coming out of bucha in ukraine, the growing call come to investigations not if vladmir putin is a war criminal but just how he ranks by other war criminals in the past. apparently he is near the top of that list if not the very tippy-top after this. we gotta tell people that liberty mutual customizes car insurance so you only pay for what you need, and we gotta do it fast. [limu emu squawks]

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>> indeed this is genocide. the. >> translator: elimination of the whole nation and the people, we are the citizens of ukraine. we have more than 100 nationalities. this is about the destruction and. stuart: termination of all these nationalities. neil: you know these images we're getting out of bucha right now over the weekend showing so many killed, many with their hands tied behind their backs shot execution-style.

reports of many women raped, children senselessly shot down as russian soldiers were leaving. russia has claiming it has nothing to do with this. this begs the question who does? would ukrainian soldiers do this to foster the ongoing rage with the war? it does beg credulity. alex hogan in lviv, ukraine, with the fallout from all of this. when you think about it, alex, we've been used to horrific images coming out of ukraine but this set a whole new standard, didn't it? reporter: neil, these are images not just shocking to people here in ukraine but to people around the world, the worst fears some of them had about the war now broadcast in these images that we are seeing and we do again want to warn that these are violent images and graphic footage for any of your viewers who might be watching. bodies of men and women bound behind their backs, or tied by their feet. ukrainian forces calling this the scene of a horror movie.

the mayor of bucha says as many as 300 people have been killed. these are innocent civilians who were hiding during russian occupation of their town. these chilling images, people who were executed in the streets, left next to buildings, left in the middle of fields. now returning back to these towns is not yet safe. zelenskyy warning residents to not return at least not yet, saying that while the land has been won back the fight is far from over, urging world leaders to support his country. >> speaking native tongue] reporter: russia also targeting an oil depot in odesa this weekend on the southern side of the country. ukrainian forces have been retreating from the north as well as moving out of the sumi

region in the northeast according to the head of the regional military administration. russia again denying the accusations of some of the gruesome footage we're seeing coming out of the non part of the country and it is continuing to shift its focus to the eastern side of the country. ukraine says russia is amassing as many as 60,000 new troops to the eastern part of the country, especially looking at the most contested areas like the donbas. neil? neil: alex hogan, thank you very much. to general jack keane. general, i recall your comments recently about the depravity of some of the putin strategy in this war, to target civilians, to brutally target civilians. to what end though? if you would think it would scare or or give, ukrainians some pause, it is into the working so what are we to make of that. >> well it has been the russian

way of war for generations t was certainly on desplay very vividly during world war ii when they turned the tide against the germans and entered german territory. we saw mass rapes and massacres that took place on a scale what we're seeing here today and in grozny we saw the same thing. a little bit more in eastern ukraine. excuse me a little bit less in eastern ukraine when they occupied in 2014 but nonetheless it existed. this is not a reflection of some lack of discipline in the russian organization which i believe they do have those problems and we've seen evidence of it but these massacres and mass rapings, they are ordered by the officers in charge of these organizations and i think likely directed from above that. certainly these forces are leaving the battle areas surrounding kyiv under a cloud

of humiliation and frustration knowing full well that they lost this battle for kyiv to the ukrainians and therefore they're killing the ukrainian people. it is a matter of cause for them to intimidate and coerce the population, to try to break its will. what is striking to me after eight years in ukraine, and knowing that the eight years in ukraine stiffened the will of the ukrainians, to fight the russians tooth and nail, that they actually think that this horror campaign, which is sickening and despicable, will somehow accomplish their objective, to break the will of the ukrainian people. it does just the opposite, neil. it stiffens their will. and zelenskyy and his generals are poised to want to conduct offensive operations to remove the russians completely from their territory because they

know full well anything less than that keeps the ukrainian people in the orbit of russia to some degree and certainly in danger of building those forces and reigniting another campaign. so it backfires on them, neil, rather significantly. neil: now that clearly is the case in the global response. general, while i have you, we've been following closely the comments president zelenskyy has made beginning with bret baier's interview and how it continued through the weekend even up until today when he, that is the ukraine want president, seemed to target germany and other countries that were key in not letting ukraine become a nato member. in the past he has also said that germany is so beholden to russia and russia natural gas shipments and what have you, that he seems to save a lot of his criticism for germany,

particularly germany. how crucial was that push at the time, not to make you know, ukraine a nato member, led by germany, that produced this, you know, quagmire today? >> yeah, well it's a factor, there is no doubt about it. president bush offered, he led the way in offering nato membership to georgia and to ukraine in 2008 and as a result of that the germans and the french said no. they would not do it. that is all it takes for one country to say no. neil: well, general, this would ignite anger from russia? ironically as if today we're in that same position but would that have made a difference? you know obviously then you would have had you know, russia attacking a nato member or so inclined to do so, so maybe we would never have seen this, what

do you think? >> well i think, certainly president bush in doing that had other things on his mind also. this is the surge was going on in iraq at at same time while that was taking place. neil: exactly. >> but putin followed up rather quickly. he was fed up with the seven previous soviet republic countries that joined nato and that is why he went into georgia in 2008, to demonstrate to everyone his opposition to this. that put, actually put ukraine in a really tough spot because they were in a strategic ambiguity for all of these years. they wanted to join. the united states offered them membership. members of nato said no. therefore the status quo for all of these years was no active movement towards membership and it made a much more dangerous situation i think for the

ukrainians in the long run and i think coming out of this one of the things that zelenskyy is saying if he gets the end state he wants, and he is able to drive these russians out, and he doesn't have to make a deal where they're keeping territory, if he is able to enter into an alliance as a result of this, not nato membership but an alliance with the united states or a couple of other countries to provide guarantor of his security going forward that would be a game-changer and it would put him in a much better position with security going forward than where we have been since 2008. neil: but, general, if you think about it, once bitten twice shy, right? he remembers well out you know, western nato members kind of left him hanging. and you would think that he would be leery of even such promises. the other thing that kind of

confuses me, gin, the fact he is talking about using nato membership, not as a must-have but a negotiated tactic that he can live without it. so which is his real point of view? >> i think it is in his interests to have some kind of security relationship going forward because of the sheer intimidation and coercion russia is about. as long as putin is in power he will have designs on ukraine. neil: he shouldn't accept anything less than being a nato member? i'm sorry, general, to interrupt you. if you're zelenskyy you don't want any half-baked solution, you want to be a nato member, don't you? >> he wants to be, but i don't think he ever will be. neil: got it. >> that is why a bilateral relationship with the united states or a couple of other countries, a trilateral relationship would give him the same thing. and by the way on germany, you're absolutely right,

angela merkel felt much like the world did when it came to china if we work with russia economically in terms of prosperity around help them gain their own economic prosperity that that would provide added stability and security to europe writ large and that blew up in her face. that is a fact of it, just as all the outreaches we made to china during the '90s in terms of economic reform has all blown up in our faces. these autocratic, nationalistic regimes pursuing their own interests, they have not changed one iota in a generation. neil: amazing. general, thank you, always learn a great deal. general jack keane all the fast moving parts and pieces maybe to an eventual settlement here that still seems a way off. meanwhile the auto industry ever rebounding seems way off, what gm and ford recently announced that raises serious questions as to whether the automakers will

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♪ neil: been shopping for a car lately? obviously something of a delay with the chip shortage, difficult finding adequate help, what is going on abroad. add it all up, likes of gm and ford saying we're cutting back. we're dealing with the shortages as best we can but it is not going to quick and it will not be resolved anymore quickly. madison alworth following it all in paramus, new jersey. madison. reporter: neil, both ford and gm halting production at michigan plants this week because of combination of parts shortages and chip shortages. gm, production facility they're putting a pause, they make cadillacs and camaro. i have the camaro right here. the ford, their plant is mustangs. they specifically said chip shortages is driving that pause in production. this is all creating a problem

where people cannot access new cars and it is driving, no pun intended, driving people buying used vehicles. looking at price of used vehicles year-over-year. we're looking at a 41% increase. there is too much demand and not enough supply really driving those prices way, way up. when you see things like these production halts that only creates a persistent problem. take a listen. >> automakers are prioritizing most profitable vehicles which tend to be trucks and suv at the high-end. that is coming at the expense of the low end prices in the market so we're seeing anything priced below 40,000, sales are down. once you hit 40,000 and above we start to see sales take off. reporter: overall sales are down despite there being so much demand because there is just not enough inventory. we're looking at a 16 percent

decrease in sales year-over-year because people can't get hands on vehicles. production halts are creating greater problems. companies are trying to get creative how much inventory they can free up. one way they adjusted if a car requires multiple chips, they will prioritize the most important ones. a truck that has seat warmers, they will release it to a customer, put it in the contract, you don't have the chip activate your seat warmer but come back in six months when we expect those to be in stock. you come back free of charge to put it in the vehicle. this is the kind of market we're dealing with right now. it is a global supply chain issue with the semiconductors, those chips. people cannot get their hands on the cars. we just don't have the facilities to make them. gm and ford seeing that right now. neil? neil: they're not the only ones. they are wild. madison alworth following those developments. as madison was wrapping up, we're hearing from ukrainian president zelenskyy, knew

sanctions are needed on russia and ukraine needs to be supported with more weapons the sooner the better. this on the heels of brutal killings in bucha, 400 ukrainians, mostly women and children, executed. if that isn't a war crime, my next guest says very few other issues are. senator roger marshall, the kansas senator, a physician by training, kind enough to join us now. senator, very clear to president zelenskyy that new sanctions are needed. we've got quite a few sanctions in place already, some are delayed as you've been reporting. but do you think he is right, that we have to up the ante here? >> neil, good morning, good afternoon, most important we need to implement the sanctions we already talked about. some of them don't go into effect until june. we need to be a country of action if we're at leader of free world we need to start acting like it.

we see the rebound of ruble the current sanctions are not working. we need to add the sanctions we have as secondary sank insurance. neil: there is issue, with our european partners, how far to go, germany surprising wanting to cut off natural gas and oil supplies from russia immediately now. austria not so much. do you think they're actually going to walk that talk? >> neal, that is a great question. i'm excited germany is even talk big right now and we'll see what their actions look like. we need more nato troops on the front line that would be walking the walk instead of talking the talk. we have 40,000 nato troops. i want to see the troops committed to military forces and sanctions. there is no doubt the sanctions would sting germany more than the united states because they're so depend on that

russian energy. neil: while i have you, today, senator, looks like as early today, ketanji brown jackson's vote comes out of the judiciary committee, likely a 11-11-tie. chuck schumer hopes to get a vote maybe tomorrow. you're on record opposed to her nomination. a couple of your colleagues could vote for her. susan collins on record being for her nomination. maybe lisa murkowski of alaska. maybe mitt romney of utah. could you see three republican votes for her? >> neil, it is hard for me to speak for other people. i think susan does a great job representing the people of maine. i think those folks all try to do what represents the values of their own state and i can tell you this supreme court justice does not represent kansas values. we did four more town halls. we've done almost 100 since taking oath of office. number one issue is always inflation right now but number

two can sans doesn't feel safe and secure they're concerned about an open border. they're concerned about the administration policies and culture and disrespect to police officers and adding to the judicial nominee, highest court in the land a person soft on crime. i think we have great concerns on our side, in all respect what my colleagues do with their own vote though. neil: senator, thank you very, very much, i know your eyes will be glued to another development, of course a big basketball game. best of luck there no matter which side you're on. i have a feeling which side you're on. senator, very good seeing you. thank you very much. >> go jayhawks. neil: we have a lot more coming up here, including right now what is happening on our own border, because there are real concerns it is going to explode after this. ♪. ♪

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♪ neil: at the border they call them got-aways. seen by border authorities but unable to be captured. bill melugin has been keeping track of it because the numbers are soaring. he is in la jolla, texas with more. what are we looking at here? reporter: neil, the got away numbers are jaw-dropping. cbp says there were 300,000. last month of march there were 2,000. that is 1000 a day. look at the graphic here. five day stretch just here in the rio grande valley for border patrol they arrested a mexican man convicted of child rape. a expects can man convicted of rape in indian. a honduran man convictioned murder. mexican man convicted of attempted murder, two ms-13 gang members and a gang member with conviction to cruelty of a child. that one five day stretch in one

single border patrol sector. late yesterday if we pull up the mug shot, border patrol in the tucson, arizona sector, said they arrested this convicted sex offender after he crossed illegally. a deported mexican national who snuck across in group of 12 other migrants. his previous conviction was for aggravated sexual battery in the state of texas. this video from del rio sector with illegal crossings continue in broad daylight. we shot this video in eagle pa pass, texas, dell sector saw 1300 apprehensions with 200 in a 45 minute span. that sector's numbers are up 179%. oklahoma senator james lankford says once title 42 drops, the biden administration really doesn't have a plan for what's next. take a listen. >> everyone knows it was temporary from the very beginning but they have had a full year to be able to plan for what happens when they bring it down and their plan seems to be

we'll just move people across the border faster. reporter: and neil, just to put it into perspective for you with cbp telling us that there were an attempted 300,000 known got-aways across the border. that is population the size of cincinnati sneaking past our border patrol in the last six months. send it back to you. neil: thank you, bill melugin following all of the craziness across the border. all of sudden starbucks indicated it is not, not going to be buying back stock. does a union have anything to do with that? after this. ♪. ♪

♪ we believe there's an innovator in all of us. ♪ that's why we build technology that makes it possible for every business... and every person... to come to the table and do more incredible things.

♪. neil: all right. did union successes over at starbucks and amazon have anything to do with at least in the case of starbucks halting a stock buy-back program? we have dan springer in seattle following all the fast-moving developments. good to see you. reporter: hey, neil, good to see you too. organized labor is definitely making gains now. what is interesting we're seeing it at high-paying tech companies and also at progressive companies that have never had unions before including amazon, the headquarters behind me. amazon workers at a distribution

center in staten island made history last week becoming the first to vote in a union at company. the e amazon spent $4.3 million on consultants to urge workers to vote no but workers went with the union by 10% margin. they defeated a unionized attempt in alabama. they ordered a second vote but that also failed. teamsters announced a multiyear, multimillion-dollar effort to organize amazon drivers and warehouse workers. labor supporters say the timing for the unions is right. >> the workers are not paid as well. not as safe, not as stable. and there is increasing discontent. reporter: starbucks is also seeing workers organize for the first time. nine stores have joined a union including one in seattle near the company's headquarters. many more votes are coming up. 900 google workers are in a union aimed a at social justice. two apple stores are in the process of filing for a union

vote and retailer rei, it now has a union store in new york city. the pandemic is a big reason. workers were labeled as essential and they gained a lot of power when 25 million people quit their jobs and companies had trouble hiring. record corporate profits is also a factor. amazon, google an apple all had banner years in 2021 and workers want a larger share of the profits but critics say more union labor in the private sector will make the current inflation even worse. >> what's going to happen is everything is going to go up. the prices are going to increase because wages are going to increase. there is going to be fewer people able to run independent businesses. reporter: amazon released a statement saying it is disappointed in that union vote in new york city but they are keeping all their options open including possibly filing a complaint against the nlrb, which made some last minute rulings which the company said put hands on the scale in favor of the union.

neil? neil: dan springer, thank you. to jonathan hoenig on this. jonathan, you know what is interesting about both the amazon and starbucks case, their workers were paid handsomely, not that should be your only draw, between benefits and hourly wages at or around, even above $20 an hour, it begs the question how is this gaining so much steam? >> i think there is a political movement as dan pointed out. there is a political momentum towards organized labor but it is sad, neil, not just frustrating but sad, but nothing has been better for workers like people like howard schultz for starbucks. how hard schultz pioneered benefits for reforms with, he is the howard, the ray kroc of our era, neil. trans formed the culture, created all that wealth. i'm bullish on starbucks not just because they cut buybacks but i'm bullish on starbucks. howard schultz saved this company in 2008. he can do it again as long as

the unions don't get in the way. neil: but he cooled it on the stock buybacks on the time being to focus on the workers at least that was part of the announcement. clearly what was going on at his shop as well as amazon telegraphed what would be happening now, right? >> well, i mean, criticism of buybacks neil, there is no benefit. it is just financial engineering but howard schultz is cutting the buybacks he wants to, i don't know, reinvest in the company that is the whole point. a company like starbucks, their success is not guaranteed, neil. right now they will have to invest drive-thru element, tech logical element. schultz created that third space in 2008. they have to recreate the company now. it is not just an expense but a detriment to productivity. neil: we'll explore that a lot more with you the next hour my friend. jonathan hoenig on that. the dow continuing to race ahead, actually very slowly but it is ahead after this

♪ ♪ >> he was a resident, he worked in landscaping, a peaceful, honest person. a smart man who loved to work and they simply, shamelessly and in full knowledge crushed him to death with a russian armored personnel carrier. the tanks were shooting dogs. we were sitting in a cellar for two weeks. there was food but no light. no heat to warm up. >> translator: they shut them without -- shot them without any

if reason. in next neighborhoods they conquer, it was even worse. they would shoot without asking any questions. neil: now we're hearing from the russian foreign minister, it was not us, and now we're getting word that he's going to lead a news conference later today to spell out how russian soldiers were not behind those attacks that took better than 400 lives, many shot execution style. we've got team coverage on the fallout from all of this with edward lawrence at the white house, also alexis mcadams in poland, how even with these latest developments many ukrainians want back into ukraine because they're so outraged and, ultimately, connell mcshane taking a look at the one touch where soldiers on both sides are now focusing their attention. we begin with edward at the white house. what's the latest from there? >> reporter: yeah, neil. in about 45 minutes the president will talk about his truckers program to get more truckers on the road, but this morning he made a point to walk

to the cameras as he was coming back to the white house and say again russian president vladimir putin created -- made war crimes in ukraine, this time in bucha, ukraine. listen. >> more sanctions, yes. the war crimes, yes, i'm going to continue to add sanctions. thank you. >> reporter: so he's going to add sanctions based on the images from bucha. representative ro khanna says the administration should be sending more weapons to ukraine faster and making things more painful. >> my understanding is we've gotten sanctions on about 12 of their 100 oligarchs, but there's still 88 who have wealth which we haven't been able to go of after. we need to go after that. we need to have more punishing sanctions on putin. >> reporter: so the european union starting to put actions behind their words. in a summit with china, the e.u. confronted china directly about aiding russia economically or with equipment.

the european union commission president added that china has a responsibility to end the war. meanwhile, china blaming the invasion on ukraine and the u.s -- on the u.s. and nato by adding members in eastern europe. a foreign ministry spokesperson saying, quote: as a promise of the cold war, nato should have been disbanded after the chance of the former soviet union. this coming on a day that nato account retweets saying global security is evolving, but nato allies will always remain united to defend our democracy, security and freedom. so we have not seen the president as of yet put any actions or make any sanctions towards china. so far it's just been warnings. you heard him this morning, we can expect more sanctions on russia. back to you. neil: thank you very much is, edward lawrence, at the white house. you would think this would give pause to a lot of ukrainians who sought safety in poland to rethink that for the time being

because many of them have been looking to go back to ukraine to fight the good fight or just because they miss ukraine. thats' not happening. alexis mcadams in poland with more on that side of the story. >> reporter: hi, neil. at the border crossing behind me which is the busiest here along the polish-ukrainian border, at its peak, there were 140,000 ukrainians coming in by the day, but now people here at the crossing tell me thousands are going back to see their family and also to see what's left of the life they had to flee. this all comes as the president of ukraine, volodymyr zelenskyy, and also the mayor of kyiv are warning people to not go back because it's too dangerous. listen. >> risk to die is pretty high, and that's why my personal advice for everyone who wants to come, please, take a little bit more time. let's see how situation develops in next couple of weeks.

>> reporter: can't hear. [inaudible] the video you're about to see is graphic, it shows horrific images coming out of bucha, ukrainian people's bodies left on the road, people thrown into makeshift mass graves, hands tied behind their bask as officials say they were gunned down by russian troops. the united states also calls for vladimir putin to be held accountable for these war crimes. refugees who were thinking about returning home do can tell me they are changing their mind. >> my mom is depressed about it and so i also cried a little bit. so it's horror, like a horror film. >> reporter: those warnings have continued from ukrainian officials but, neil, those people here in poland are tell me they're really not thinking

about their own safety, they're thinking about their family members that they left behind, and they want to go back home. but seeing those images that we've been talking about since yesterday are so horrendous, some people might take some pause which is what ukraine's president is hoping. neil is many. neil: yeah, you would think. connell mcshane with us now because all of this might mask some real progress that ukrainian soldiers are making, right, connell? >> reporter: in many ways, that's why these discoveries are being made in and around the capital i city. bucha's up to irpin, and you see all the blue that we mapped out here in ukraine, that is the claimed ukrainian counter-offensive that we've been talking about for weeks, so that is, to your point, that area that ukraine has reclaimed which is allowing their forces including their president to get in here. the russians, meantime, refocusing their war efforts whether it's in the east or even down here in the south across odesa and places like mariupol

which we'll talk about here in just a moment. but let's move in closer to the capital region and talk about the area that seems to be in focus over the last couple of days. so right here this is bucha, this is the area where, you know, alexis was showing you those gruesome images, and the reason they have been discovered from kyiv, center city kyiv to bucha, it's probably maybe a 20-mile drive or thereabouts, the ukrainian forces were able to push the russians back, hold them steady, and then eventually the russians decided we're going to get out of here and abandon this area. that's why all of what you're seeing here is blue. it's opened up, by the way, a passage for humanitarian aid and other things to get into a place like chernihiv which is up here in the northeastern part of the country. we now see, you know, more -- the roads opening here from from north to south coming out of kyiv. that's probably about a 90-mile drive as you move up there. so this is a much different situation, neil, than what we saw just a short time ago.

for perspective, this is today's map of this area. again, blue, all the ukrainian counter-offensive. let's flash back a few weeks, less than three weeks, 16 isth of march. that's the same exact area you're looking at, kyiv, irpin, these areas that we just talked about all red whereas today a lot of blue. so that's the kind of progress that ukraine has made, also the decision that russia has made to get out of that area and that, of course, as you're doing that, the map tells part of the story. the pictures show the rest of that. that's just is a suburban block in bucha, and we've seen the horrific images out of that area. down to the south i mentioned russia has started to refocus on the east9 and the south. we've had reports of more strikes in mariupol and the efforts to get civilians out of there, it's been very, very difficult over the last few days. that is continuing with the red cross and others to get there, and another very important place to watch, you do see a little bit of blue.

again, ukrainian counter-offensive, they've been able to hold off the russians which has been really important to keep them out of odesa. how much, it has been hit over last couple of days. the oil depot was struck over the weekend, reports of more missile strikes coming into odesa saw even today. you can see how important this is because whether it's the crimean we anyones that or the rest of southern ukraine, all these ports are under russian control or being heavily fought over. odesa, they've been able to resupply the ukrainian army, very important to the ukraine economy as well. so if those strikes continue, let's see what happens to odesa over the next couple of days. it's another important development. neil: connell mcshane, thank you very much. the russian foreign minister is going to, obviously, dispute line by line this notion that russia was behind the brutal attacks in bucha targeting civilians. but general jack keane, who was with us in the last hour, says this does follow a strategy that

russia's been long known for. to what end though? i mean, you would think that it would scare or give, you know, ukrainians some pause. it's not, it's not working. so what are we to make of that? >> this is not a reflection of some lack of discipline in russian organization. these massacres and mass rapings, they are ordered by the officers in charge of these organizations. and i think likely directed from above that. and certainly, these forces are leaving the battle area surrounding kyiv under a cloud of humiliation and frustration. neil: all right. to paul bremer on all of that, the former presidential envoy to iraq, the former national commission of terrorism chair. paul, always good to see you. what do you make of what general jack keane's saying? >> this is hardly new. while this is graphic to see it in current day, this is not a

few strategy on the part of russians to target and, indeed, brutalize civilians. >> no, it isn't. and if there's a way to be brought to justice through the international criminal court, i'm all for it, but they've only had four convictions since the court was founded. so i don't think we can hold ho. it is an idea that we should have armed escorted by the u.n. refugee organization, escorted routes of evacuation out of some of these areas. all of that, however, begs the central question, neil, which is what is our objective here? is our objective to fight back to the status quo, back to when russia was occupying the eastern part of ukraine? or is our objective to defeat russia in this war? it's very important to be clear about what our objective is. it is certainly not yet a

strategic defeat, as the secretary of state said recently. that has not yet happened. neil: you know, general jack keane was of the view that maybe we don't want ukraine to win, that we're so concerned about vladimir putin losing, that that's our greater worry, what he might unleash if he does. >> well, it's a legitimate question. i think putin's objective overall is to, not to leave, you know, give rebirth to the soviet union, it's to give rebirth to the russian empire. and it's interesting to me that if you look at the vote in the united nations' general assembly to condemn russia's actions, three-quarters of the countries that were part of the soviet union did not vote in favor of condemning russia. those guys have figured out that they may be next on putin's

list. these are the countries of tajikistan, as -- kazahkstan, uzbekistan and so forth. so there really is a question as to how far you can push putin before he reacts somewhere else. that's a legitimate matter that the government has to be considering. but it does no good to think we've achieved a strategic victory in ukraine. neil: i'm curious what you made of president biden's reaction, you know, on these latest attacks in bucha and the carnage, that they're clearly war crimes, but he didn't quite call it genocide. what did you make of the distinction? >> well, i suppose the lawyers can argue over whether genocide is also a war crime, a distinct war crime. the capacity for the international community to do anything about it is, as i have already said, very minor. it's only four people, mostly

minor officials i think mostly in the balkan states who have been brought to trial successfully on war crimes. i think we've got to get back to focusing on what we can do, depending on our objective, and i think there's more we can do. we can increase our support for the ukrainians, counter-air facilities, counter-tank weapons, we could be helping them with the kind of urban warfare they're entering into, night vision goggles, various smaller munitions to screw up the deployment of tanks. there's a variety of ways we can help the ukrainians still, and i think the core question is, do we want to defeat russia there. neil: paul bremer, very good catching up with you. i very much appreciate it. let's take a look at the corner of wall and broad, we're up just a teeny if bit here, but there's a push and pull among

oil strayeder -- strayeders right now -- traders on the notion that there's a little bit more concern and friction certainly in ukraine and where this goes, especially if this escalates into investigations of war crimes and worse. but for the time being here, russia's unique ability to absorb these body blows, the sanctions, that makes you wonder whether they've found a unique way around them. they have. after this. ♪ ♪ my sister's managing a lot, including her type 2 diabetes. but she's found new ways to stay on top of it all. once-weekly trulicity is proven to help lower a1c and it can help you lose up to 10 pounds. trulicity is for type 2 diabetes. it isn't for people with type 1 diabetes.

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neil: all right, jamie dimon is now the latest big corporate heavyweight, certainly financial heavyweight, to say, you know, we could have some problems around the corner. i don't know if that merits a fox alert, but he is talking increasingly about rate hikes that could be more frequent and a little bit bigger than we earlier thought. charlie gasparino here. good to see you in the flesh. my friend. you look terrific. >> thank you, thank you. so do you. neil: looks can be deceiving. let's talk about this. ing what's dimon saying here? >> let's unpack this. this is like a chorus of wall street guys, top ceos, larry

fink of blackrock -- neil: that's right. >> coming out and saying the markets really are -- and investors, particularly retail investor s, you know, the smart investors are out there positioning and hedging, they're not taking this seriously. the fed is going to have to ratchet up rates pretty significantly going forward, probably 50 basis points swing in the next, in the next -- i believe that's in may. neil: next meeting they're talking about doing the same at the meeting six weeks after that as well. >> oh, yeah. neil: oh, okay. got it. >> and this could be much more significant than people are digesting it. and jamie is the latest guy to come out. now, why is it important for jamie and larry fink? i can tell you this, if there are two ceos out there that the fed, powell, listens to, it's larry fink. blackrock does a ton of work for the fed on their analytics and managing their portfolio -- neil: i didn't know that. >> yes. and, of course, the ceo of the

largest u.s. bank, which is jamie dimon. both have lines right in to powell, and, you know, you can only extrapolate from what they're -- if jamie dimon and fink are saying we have overheated inflation, we've overheated the economy. by the way, jamie also said some of the biden stimulus wasn't called for, that it's clear now it caused inflation. neil: wow. >> which is pretty interesting -- neil: did he say that at the time though? >> that's a good question. i don't think he said anything at the time. neil: right. >> he's been warning about inflation. neil: he has. >> but he clearly thinks we overheated the economy with all that biden stimulus. neil: so talk about more government stimulus -- >> is crazy. but when a guy who has the ear of powell does what he does today, i asked economists, fed watchers, you name it, what does that mean for rates, everybody says it's 50 basis points at this next meeting. now, can i guarantee it? no, obviously, you can't garon

guarantee anything. neil right. >> all these ceos, this is something that i think the market's going to have to appreciate -- neil: but has the market factored in that many? -- >> 35,000. neil: right, right. but maybe they like it. oh, good, they're going to get ahead of the curve. you could split both ways, right? >> you have to slow down the economy, you know? you hope for a soft landing -- neil: have we ever had a soft landing? >> that's a great question. i think we did have one. neil: really? >> the last time i can remember was when the fed started raising rates in 1994 when you had orange county -- remember it blue up -- blew up the orange county bankruptcy? that was caused by the fed saw a massive bubble in the bond market. people were doing all sorts of derivatives in bonds, and they basically popped it. one of the problems was, one of the sort of outcomes was orange county, a guy that was doing all that that crazy derivative play, what was his name, bob citron?

neil: wow. >> basically he bet on lower interest rates. he was doing what they call inverse -- neil: that that one worked. but it's rare. >> i think the markets -- neil: was that greenspan at the time? >> yes. markets were off just a tad. and greenspan, you know, a lott of people obviously criticized him for the financial crisis, too much liquidity in the system caused it, but he got us through a lot of stuff. neil: he most certainly did. '87 crash, that's right. if. >> alan greenspan was a damn good fed chair for most of his tenure, going out on a bad note, obviously. neil: yeah. >> i think powell will go out on a bad note if he doesn't get his hands around that, and that's what you're hearing from ceos in the nicest possible way. neil: so they're telling him -- >> get ahead of this thing. neil: got it. i'm glad you got out ahead of -- >> i was under the knife two weeks ago.

and, by the way, till got some aches and pains here and there. neil: you're amazing. >> it was quite a -- [laughter] quite a month. neil: we would sit there more hours, talk about prostates. [laughter] it's a family show, young man. oh, look at the time! thank you, my friend. [laughter] >> cat they ares flowing -- catheters -- [laughter] neil: he's heavily medicated. my next guest, jonathan hoenig, you know, jonathan, i did want to talk to you about some other stuff, but what do you make of the pressure on the federal reserve, you knowsome don't take your eye off the ball here with what's going on with price pressures, you know? get ahead of this thing, maybe hike more than you're planning, maybe more often than you're planning. what do you think? >> this is unprecedented time, neil. literally almost no one investing today has will lived through this type of an inflationary period at 40-year highs. what's interesting is that the fed's been behind even from the

get go. rates have been rising for well over a year now, so i think that's the fear, that the fed is behind the curve, and who really pays the price for all this inflation? it isn't the larry finks and the real rich people, it's the average people at home, people with not a lot of money. they're the ones paying the price for all inflation, and i can't imagine how the fed is going to get in front of it and fix it because in many ways they're the ones that are causing it. neil: do you put much credence in the inverted yield stuff where short-term rates are eclipsing the longer term rates with the idea being you're going to slow things down and long-term rates naturally come down, so a slowdown seems to be in the cards. do you buy that? >> you know, neil, it sounds a little wonky, i think, for people at home, inverted yield curves, what does this mean. well, the thing to keep in mind is this indicator has always predicted a recession for the better part of 50 years. every time we've seen, as you said, this inverted yield curve,

you've had a recession anywhere from 6 months to 2 year years after. you know, in the investment business you're always looking for a sure thing. there is no sure thing, but this is about the closest you can find to a sure thing because every time we'ved had this inverted curve, a recession has followed. neil: it has, actually. let me ask about another subject that's getting attention right now. elon musk for a variety of reasons has a huge stake in twitter, and the fact that tesla, of course, is selling a record number of vehicles, but it has had to halt production in shanghai, of course, hit by that covid variant spike. so he's sort of at the center of a lot of hot issues. what do you think? >> well, elon musk is a tremendous innovator, he's a tremendous creator. you know, elizabeth warren, neil, has gone after him certainly in recent years for not sharing the wealth, and he pointed out how many millionaires he's created over and over again. you know, he's shutting down production in china, why? because of china's

authoritarianism. china's central planning. so the more prosperous countries are always the most free, so we should be delighted not only that elon musk is here in america innovating, but that he's becoming rich and rich and rich. the more wealthy he becomes, neil, the more wealthy we all become. this was a company that was given up for dead. they used to call it tslaq mean it was destined for bankruptcy. they've innovated along the way. neil: can i ask you, the markets' resiliency through the last couple of weeks as this war has gotten more gruesome, how are the markets sort of handling this? the belief they don't think this lasts longer or as far as it widening, it doesn't appear to be the case? how do you explain what they've been doing? >> well, neil, this war is a terrible human tragedy. i mean, it's murderous. we can't lose sight of that. this is a human story. but from the financial

perspective, if you look back through history, often times when a war a starts, i mean, the most recent example is the gulf war, that tends to be the bottom. all that fear comes out, the market bottoms, and it tends to climb after that. exactly in this case, obviously, terrible bloodshed, can't discount that that, but from the moment the war started, stocks have gone up and up and up, and interestingly, they've been led by tech showers. by tech shares. apple and tesla, interestingly, almost seem like safe havens. neil: that's a very interesting read of it. thank you, jonathan, very, very much. by the way, the markets also could be pouncing on news of ukrainian advances reversing what were. russian advances. we're so focused on the brutality of russian soldiers, sometimes we're losing sight of the tenacity of ukrainian soldiers. after this. ♪

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neil: this is not a new strategy on the part of russians, to target and, indeed, brutalize civilians. >> no, it isn't, and if a way can be found to bring them to justice through the international criminal court, i'm all for it. all of that, however, begs the central question, neil, which is what is our objective here? is our objective to fight back to the status quo, back to when russia was occupying the eastern part of ukraine? or is our objective to defeat russia in this war? neil: well, we hope our objective is to see ukrainians win this war. with us now, general david perkins, retired four-star general, fox news contributor. do you know how difficult it's become even a one-star general, so a four-star general? very honored to have the general. general, let me can ask you, first off, about what paul

bremer was getting into, about where this goes from here. and we're learning of ukrainian soldiers turning the tide in some of these cities, especially those on the outskirts of kyiv. but we're hearing more and more about that. even with the brutality on the part of russian soldiers. is it too soon to say this war is turning? >> well, i, you know, war is always a back and forth, and so it's best not to get too focused on the immediate. what is important is if you look at sort of the trends on both the russian side and the ukrainian side, and the ambassador as well as general keane previously had brought up how this is sort of the old russian way of war. and that is true, but quite interesting how we got there. the russian army tried to execute a highly mobile maneuver warfare like the u.s. and western countries do similar to how we went into bag -- baghdad,

and they're sin coniced and have effective command and control, but they were unable to do that, and it just devolve ised as we've seen throughout the last month into a stalemate initially, and then they were unable to maintain the momentum. so they had ore accelerate back to what they know -- had to revert back to what they know which is destroy city, fire artillery, not maneuver and use fear and intimidation. on the other hand, ukrainian army has been really quite adaptive in responding to the russians. they have been very good at using what little weapons they have and using them with a lot of ingenuity and a lot of innovation. and so the ukrainians keep getting better whereas the russians keep going back to what they know. and that's a very good sign for the ukrainians dis, unfortunately, a very bad sign for the russians in what that entails for the ukrainian people. ing. neil: general, when last we

chatted, we were talking about musings by russian shah's foreign minister, lavrov. right now he expects later today to detail how russia is not at all responsible for these horrific killings of civilians in buy cha, but he also -- bucha, but he's also saying russia remains open to an honest conversation9 with the west. aren't these two events mutually exclusive? >> well, yes. i mean, obviously, we know the russians are responsible for what happened in bucha, there's plenty of evidence of it, and it is typical of the way they conduct warfare. you just have to take a looked at chechnya. on the other aspect of it, saying they're open for dialogue and willing to look at other alternatives, that is an indication they are looking to sort of redefine success. which is good news for the ukrainians and the west. the challenge now becomes as those negotiations go along --

and, of course, it's up to president zelenskyy and the ukrainian people to determine what is successful in their mind and what level of success or end state can they sustain. neil: got it. general with, thank you very much. we are waiting to hear from the if russian foreign minister, avenue love, on exactly how he does detail these attacks not having anything to do with russian soldiers. that would leave only ukrainian soldiers as the likely culprit. whatever. all right. meanwhile, we're going to the white house right now where the president's talking about correcting some of these supply chain bottlenecks, i be will this -- but will this attempt be any different from the results we've found from from other attempts which are actually no results at all? after this. ♪ ♪ jessica was born to care. she always had your back... like the time she spotted the neighbor kid, an approaching car, a puddle, and knew there was going to be a situation. ♪

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neil: all right, there are a lot of things they're waiting for on capitol hill right now including a new covid funding measure. the only difference is how many billions more or less it's going

to be. the late from hillary vaughn on capitol hill where all of that stands. hillary. >> reporter: hi, neil. well, bipartisan senators negotiating the covid package have reached a deal on the price tag for that. a senior gop aide telling me that magic number is $10 billion. that's less than half of the $22 billion that president biden asked congress for. it also does not include money for global aid, something that democrats were really pushing for. the package signals a shift in how washington is responding to covid and the pandemic moving past leaf and aid -- relief and aid and instead targeting spending on vaccines, tests and therapies. >> we're shifting in terms of how we look at managing covid going forward. we are always going to need to have resources to make sure that a we have available therapeutics, vaccines. >> reporter: there are some who are skeptical here on capitol hill about the need to

spend more when billions of dollars in covid relief is still unspent. so the package will be fully paid for not by new government spending, but by repurposing unspent money from past stimulus packages, and republicans want to make sure that that money that gets spent is all accounted for. >> i want to make sure that there is transparency, that not only can we see how those dollars are being spent, but the public can. and that the dollars that are being reallocated only go to covid and not other pet projects coming from the left. >> reporter: and, neil, even though this small bipartisan group of senators worked out a deal, some others now are chiming in. senator leahy saying that this is, essentially, no deal because he has a big problem with global aid not being included in the package and, of course, in the house side they're going to have their opinions as well over the

size of this, democrats thinking it's not big enough and some republicans questioning if this money needs to be spent at all. neil? if. neil: hillary vaughn, thank you very much. the push for universal income in los angeles for a lucky 1,000, up to 3,000 los angeles residents, $1,000 a month to spend as you wish. after this. ♪ ♪ you can't buy love. happiness. or confidence. but you can invest in them. at t. rowe price our strategic investing approach can help you build the future you imagine. ♪ ♪ your record label is taking off. but so is your sound engineer. 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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neil: all right, what do you get when you get 3,000 people -- give 3,000 people $1 a ,000 for -- 1,000 a month for 12 months? they're finding out in los angeles right now. kelly o'grady with few -- with more on where this is going. now they have an active experiment, right in. >> reporter: -- right? >> reporter: right you are, neil. it's california, right in los angeles county is the latest to explore universal basic income. they'll be offering a thousand residents this program across the county, and applications are due next week. now, under the program each resident will receive $1,000 a month for three years. participants must be over the age of 18, live in a a

qualifying community and make less than $56,000 for a single household and $96,000 for family of four. 26 u.s. cities have similar programs, and many of them -- one big critique of bbi is whether it will shrink the labor force. and especially in los angeles, the fear is these expensive experiments don't address long-term inequality, but they motivate individuals from seeking employment. i spoke with a restaurant owner here, he's already struggling to find people to work, and he's concerned this may make it worse. >> so we're going to put more money in the hands of people that are going to be less likely to want to go to work. i think it's going to drive inflation even worse. it's going to drive my prices up, make me have to increase the cost of a burger or a plate of french fries. people are going to blame me for it. >> reporter: and, you know, carlos shared with me he has colleagues that are already having to pay $20 an hour for dishwashers, and he's concerned that programs like this will

remove the value of hard work that you learn in those entry-level positions which, to him, could potentially increase our homelessness crisis, not decrease it, as this is aiming to do. neil: kelly o'grady, thank you very much for that. in the meantime, you know, gasoline prices are soaring in this country, pretty much all over the world, but not as much of in mexico. in fact, not nearly as much. and that has tempted americans at the border to try to get into mexico, pick up some cheap mexican gas and drive back to the united states. now mexico seems to be saying, wait a minute. well, that's what they're saying. i can't think of of the spanish words. it's something like that. mike sommers is the american petroleum institute president and ceo. mike, what do you make of this? mexico is now saying it's got to stop, this cheaper gas is for mexican citizens, right? >> well, i do think it really gives us the opportunity to talk about the importance of american energy security here at home. americans will, obviously, vote with their wallets.

they're going across the border to get decreased costs on gasoline because they can't get it here at home. and the reason they can't get it here at home is because we have cut supply as a consequence of the pandemic and, of course, some government policies that have made it difficult to produce. so what this really emphasizes is the importance of the united states focusing again on american energy security here at home. neil: now, the big difference in mexico, of course, is, you know, they're all dealing with a lot of the same oil, i get that, but they don't have nearly the taxes that we do or various states do. so that is a big advantage to americans. but i'm wondering, let's say the mexicans follow through with this and americans can't go there for cheaper gas, they're left with the higher taxes and everything else in the united states with. now, is it your sense that if we were to open up more production in the united states, that prices would instantly start falling, or would it take a while? >> well, one thing we know based on history in this space is that

demand tends to come back father than supply. -- faster than supply. and when we're dealing with decreased supply from global providers, we need to renew our focus on producing here in the united states to make up for that gap. so, absolutely, we need to be getting more supply out of the strategic petroleum reserve, but at the same time you can't say we need more supply from a government entity and then decrease supply here at home in terms of the regulations they put in place for production here. so we anticipate actually, neil, that russian production is going to go down significantly more as a consequence of this war, and where is that supply going to come from? we think it should come from here right -- right here in the united states which means we need a regulatory policy that meets the rhetoric. neil: let's talk about what the

administration has said about your industry, mike, and you can address them. one is that the industry is sitting on these thousands of licenses, you know, and oil fields, that they're not tapping themselves. now, the immediate thought in my head would be, well, i know the oil industry likes to make money. they've maybe concluded that these particular, you know, leases are not worth exploring because they dramatically winnowed down the number of leases from a year ago when they were close to 30,000. but explain what's going on here when they make that a argument that, you know, you have ample opportunity, and you're not taking advantage of it. >> well, in fact, there are almost 100,000 leases that are currently operational today, and we're at a 20-year high in terms of those leases that are actually producing. so american producers are absolutely using the leases that they have. but to actually produce a lease, you have to have the lease, and then at the same time you have

to have a permit to produce on that lease. i mean, this administration has actually cut down that permitting by almost 85% just in the last year alone. so it is a little bit ironic that the administration is saying you need to use it or lose it when they're ones that are actually, that are actually preventing us from producing in z many cases on those unused leases. so we want to make sure that we're meeting demand, but we need some regulatory support so that we can continue to produce on these federal lands. neil: you know, obviously, the administration now seems to have targeted the oil industry for potential abuses here and sticking it to americans. i know that big oil ceos are going to be up on capitol hill. they tend to be piñatas in that variety. how are they -- in that environment. how are they going to explain what's going on and this notion that they're almost acting as a a cabal? >> this is an industry that

takes the prices that the9 market supplies. we don't make the price. and those prices are supplied by the futures markets, not by the american oil and gas industry. so these accusations of price fixing are, have been around for decades and decades, and they're always proven wrong, and they'll be proven wrong again. we want to make sure that we're continuing to supply the world with the energy needs here in the united states. the best way to get prices down is through more production in the most prolific region in the world to get oil and gas, right here in the united states. neil: mike somers, thank you very much. american petroleum student president and ceo. the president, by way, will be addressing the supply chain juggernaut. a lot of which he also says comes because of the oil spike runup we've seen. how he addresses that and the supply chain disruptions, he's tried mightily many times to address that. we're on that after this.

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emannuel macron called for a ban on all russia and coal imports over these war crimes immediately. germany is open to the idea, depending on what immediately means. austria has been saying increasingly that we've got to be careful about this, we got to do it in stages but is open to a gas ban. the fact they're talking like this, the fact that oil could come off the market sooner than expects has oil prices moving up we hall see. charles payne, good to see you. charles: we'll see whether they follow through. neil: absolutely. charles: absolutely. i'm charles payne this is "making money." breaking now what might have been a ho-hum day is turning into a barn-burner over telecommunication names where elon musk putting his money where his mouth is. he is taking 9% stake in twitter. a lot of people are cheering. cheering downbeaten down stocks in their portfolio. tweet me: @cvpayne. i w