it is good friday on friday. easter sunday on sunday. that we threw in the question. >> very religious, takes away the fun of kids finding eggs. hey, blood. >> todd, thanks for being with us for the hour. we'll be up early, i will watching you on "fox & friends first." it starts at 4:00 in the morning tomorrow. amazing. neil, it is yours. neil: does that guy ever sleep? >> no. neil: i didn't even have to get the rest out. thank you very much, stuart, todd, good seeing you. see what is going on with twitter. the stock rebounding from earlier loss, the big news as you heard by now elon musk will not be sitting on the board. a lot of people are wondering what led to what? did he opt out because there are limitations how much he can own of the stock or he is just not a

meeting guy, the idea of quarterly get-togethers, people droning on and on didn't appeal to him? i don't know. susan li is following all of this. susan, what happened? reporter: let me ask you about elon's twit tweets are you confused. neil: i am already confused. reporter: he made a billion dollars. accepting a bored seat, first but up the first tweet, why was he threatening to turn the twitter headquarters into a homeless shelter? did you see that? he was asking why top celebrity accounts have not used the platform in a long, long time? is twitter dying? i thought wow, that is probably not the kind of message you want to throw out there. neil: threw out tailor swift not using. reporter: twitter blue subscription service, i don't know if you used this before, here is the funny one. delete the w in twitter. neil: that was deliciously

childish. reporter: is was. very broey. complete foy for the audience criticizing subscription blue service. they said they were in the works of working on an edit button. the subscription service allows to you edit tweets but four bucks a month. should it be cheaper than that? maybe accepts crypto? this morning we had the ceo parag agriwall, elon musk will not have official seat on the board, 11 member board. won't have jack dorsey next month or elon musk. elon holds the 9% stake. what does he do with the shares? does he go whose tile, increases the 14%? he was limited how much he can own if he did sit on the board. neil: sitting on the board limit of 15%? reporter: 14.9. neil: can exact more power influence, being outside rather than on the board. why i suspect the company in the first place wanted him on the

board because there is a limit. reporter: he has been amassing the stake since january. they have been in discussions for a long time. this is not surprise for twitter. i wonder at what point, they made the announcement he would join the board middle of last week. what changed between wednesday and saturday? neil: i think he looked at requirements of board members. they have to attend meetings. he is a free spirit. this is idiotic. reporter: free speech, that he would have to self-censor that he could not tweet what he wanted to on the board. he deleted tweets this morning. he is already self-censoring himself, don't you think? neil: yeah. reporter: there is counter theory, using twitter saga. $2 billion is not worth that much for a man worth $200 billion. maybe using saga as distraction on tesla's problems. neil: he has a lot of followers.

reporter: 81 million or so the tesla is having problems in china with the covid outbreaks, shutting down production. that is why tesla shares have been under pressure for the past week or so. neil: that is his priority obviously. reporter: of course. neil: space efforts, everything else. imagine twitter was low or lower on that. reporter: 3/4 of his wealth comes from tesla with stock or options. twitter is worth $3 billion. that is probably in line with cash and other assets he has. some would say, what happens now? is this sin cinderella story over and does become a "game of thrones" with his stake? neil: he is synching the management. he is free to dona. >> what is the value in twitter it has lowest reach among all social users platforms. that is 1/10 of a facebook

attraction. neil: belabor the point, facebook is getting too old-fashioned for old fogies like me, a lot of people of my rating for twitter. twitter, kind of for old fogies? reporter: tiktok is the king. twitter is some call it media ecosystem for us to bounce our own ideas off each other really. who else uses twitter when it is only 200 million? you have a billion on tiktok. 3 billion on instagram facebook. neil: i have no idea what you're talking about but it sounds like a compelling argument. susan li, great to see you again. read from very young and savvy folks on significance of all of this, scott martin, jonathan hoenig. jonathan, to susan's point maybe this might grant him a little more freedom, that is elon musk to do things he maybe he prefers to do maybe he read in the footnotes becoming a board member kind of obligates for to you do things you don't like

doing. what happened? >> neil, being a board member of a company it is a liability. elon musk has history of that. the sec has gone after to him in the past over things he tweeted. you could have a situation where twitter shareholders would come after him. you tweeted this, impacts the

within these buildings and shopping malls and in some cases. it is legal and makes them a target neil: if the russian strategy is going to be to concentrate on the ground were in the eastern part of ukraine, some of these

other port cities that they have pounded, it sounds like we are in for quite a new way of brutality. i think what we are seeing is that russia's primary objective is the encirclement of a fairly large group of ukrainian forces that are on the eastern side of the donbas which used to be prior in russia has been relentlessly bombing the logistics lab the supply lines from kyiv which is interdicting and reinforcing troops as well and most critically as ammunition and fuel. if they don't have the fuel, it's going to be hard with them to deal with russian tanks that do. neil: you have any insight into the delay in getting certain arms, not all arms to the ukrainians. president zelenskyy issued his frustration with that. he also said he feels that nato

countries are dragging their feet and that went all the way up to president biden. do you agree with that? >> from their perspective any delay would certainly be frustrating. i understand that but there are logistical realities that you cannot get around. some of these reports earlier this morning that germany is thinking about giving them some of their tanks and not soviet but modern ones. the problem is you have to be trained upon having use those. it's very difficult to get the prepared. i've done a lot in europe and to move into ukraine and successfully get it up to the front is enormously difficult. like i said russia's interdicting with airpower and missile power. neil: i always learn a lot and i appreciate you taking the time defense variety senior fellow the military expert that is a vast understatement. we have the dell will enough

171-point to technology stocks of the story they are really taking on the proverbial this is a continuing a theme that we've seen playing out again and again, interest rates go up a technology stocks go down in rosina play in the crypto arena. where is money going and if not to bitcoin and some of the other crypto investments, exactly where? after this.

neil: we get the march retail inflation report the so-called consumer price index, is expecting to show gains of around 8.5% year-over-year. once again back at 40 plus year highs, a good chunk of that is going to be the food prices far past that. let's get to read from jeff flock in philadelphia how this is a global story.

>> absolutely it hits home right here. i'm walking through the hallowed halls of the bookbinders restaurant. a famous restaurant philadelphia is called the old bar not only the. olga: of the restaurants as part of the restaurant group. places have you ever seen them like this for what you sell. >> they climbed quite a bit since the fourth quarter of last year. >> it is a worldwide problem whether it's grains, vegetable oil, sugar, meat it is up everywhere but it hits the restaurants hard. you have no choice, you don't change your price every day, you have to react to this but you cannot react too much. >> if you are fine dining and premium cuts. there quite a bit more than the

average begin of seafood largely the usda is going to go up 10% more this year, you said you are paying $70 a pound. >> this is for example we cannot put king crab legs on the menu during this pricing. we will pivot off the menu item. >> a little fun and exciting and a lot of flavor but something different than price per pound. >> meet whether it's beef, veal, pork, chicken it's all up. >> it is all a big time. >> can you pass enough of us under this along. you told me earlier today i think i'm buying people lunch out here at leisure subsidizing. >> were only passing 4% to the

consumer. >> i know that you know you have a sense of what it's like to manage a restaurant profitably even when food inflation isn't through the roof. it is tough out here now. >> it's very tough and getting tougher. god bless him for trying to hold on and not pass along everything. it hasn't been short-lived. thank you very, very much. at the meantime taking a look at the crypto currency the other crypto plays having a tough day. maybe with the exception of gold and the quality and other issues. let's get to read, bitcoin foundation chairman. here are seen all of this at a time when more and more towns and states and countries are committing herself to expanding and really taken advantage, even

the volatility, it's not done anything to show potential buyers away why do you think that is. >> the market being down. >> i am thinking normally that is how people get nervous and unload. it might happen was stocks but is not happening that much with bitcoin and related crypto investments. why is that. >> we had this last week the largest bitcoin conference in the world and it just ended yesterday. bitcoin miami, 50000 or so people present and a lot of that is by on the high, some on the results. there's an emotional exhaustion that happens at the end of this period were very much correlated to the equity were traditional.

i hope producing strong support, obviously peter was president and really getting bullish on everything happening right here, tara luna did another hundred and $75 million purchase. in continuing to be the bitcoin drum ukraine deputy minister was present at the event virtually and highlighting the impact that this technology in crypto currency is having in the war efforts. i continue to be very bullish and not alarmed by the dip. as we say in crypto we say by the dip. neil: you talk about billionaire peter and a lot that attended that conference they want to be you or peter luna real investment success stories but a lot of them got in a lot later than you did and did not see

this potential nearly as early as you did. the feeling seems to be that they might not for a while. maybe if at all what you tell new investors? >> one of the things i wish i had done this much earlier, it took most people weeks, months or years to take the first step. it comes from the same conversation that i had with governments that is you don't need to overthink it. can you afford ten or $20. if you can go by tegretol $20 with the bitcoin don't think of it as an investment bank as an investment in yourself and your own education in your own knowing. for most of us we can afford to do that. that is the best advice i can give anyone there is no amount of convincing or research that will compare to the level of understanding that comes from taking your first step we refer to the orange pill.

the disclaimer the warning label. once you do that and you start to open your eyes to what the new financial infrastructure is able to do it may cause you to ask a lot of questions that are gonna consume a lot of your time. it may change your life and if you're happy with reality as it is this may not be for you. neil: let me ask about the comfort level and that significant stage. i have always likened it. your kids college education or whatever be prepared to look at as money you might be losing from the very near future but money that you can make back in droves way down the road, the question is always when does bitcoin in these related investments hit the sweet spot a lot of people say has to come at the detriment of the dollar and a safe haven currency or even the stock market as a fluid investment choice. it takes a calamity for this thing to advance.

what you tell people. >> i don't think it's required but clearly a major event occurring would have a positive impact. look at what were seen in terms of inflation and hyperinflation and what that looks like for years to come combine that with the war in ukraine and a possibility of a nuclear war or world war iii. the only thing missing from this trifecta and horrible event is a nation-state defaulting on their debts. all of the triggering events that we would think would have a big boom in the price of bitcoin hasn't had it yet. i don't know, clearly the thing i would tell everyone, don't invest on something that you can afford to lose but is this an area that you should have some exposure in terms of your own

understanding, and go by $20 a bitcoin once you've done that you understand the basics of what you do to use this. i encourage my friends to have a portion of their portfolio allocated i say generally yes, somewhere between one in 10%. that is a good place to get started that is my advice. i am a buyer right now. >> even a small denomination which is another appeal to that. always good see thank you very much. the fast-moving developments as a lot of these are taking on. the higher interest rates to come are a lot better than three year highs on the ten year note that is spilling over into the stock market particularly technology stocks but 2.76 on the ten year, remember at 1.32 a little more than six weeks ago that was then and here we go

now. the president and his counterpart in india just got off the phone with one another. you might note that india has yet to condemn what russia is doing. in fact far from of it, it's fine a lot of oil from russia as is china we give china about agrees, will give india a lot of grief. why is that, after this. ♪ but you can invest in them. at t. rowe price our strategic investing approach can help you build the future you imagine. ♪ ♪ the future you imagine. living with metastatic breast cancer means being relentless. ♪ ♪ because every day matters. and having more of them is possible with verzenio. the only one of its kind proven to help you live significantly longer when taken with fulvestrant, regardless of menopause status. verzenio + fulvestrant is for hr+, her2- metastatic breast cancer that has progressed after hormone therapy.

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♪. neil: they didn't meet in person, but they did have this sort of high-tech zoom call or the equivalent therein. the president of the united states with the prime minister of india. modi. you might recall that india is still buying oil from the russians as is china but we never really rip india for that of course we have been ripping china. i don't know why that is. maybe they did bring the issue up in today's chat. edward lawrence at the white house on that.

hey, edward? reporter: neil, the white house is deflecting over the issue of india and buying that oil. the president speaking virtually with the prime minister of india. it is interesting in the public comment, in the public schedule from the president this is the order of things they were going to discuss during this meeting. look at this they would discuss ending the covid pandemic, countering what the white house calls the climate crisis, strengthening the global economy, by the way now, mitigating destablizing impacts of russia's war against ukraine. that is how it was described. in the public part of the meeting no pressure of paying russia but talk of support for ukraine. >> i want to welcome india's humanitarian support for the people of ukraine who are suffering a horrific assault including a tragic shelling at a train station last week that killed dozens of innocent children and women and civilians attempting to flee the violence. the united states and india will continue our close consultation on how to manage the

destablizing effects of this russian war. reporter: according to contracts, india i am poured about 13 million barrels from russia, paying millions, getting the oil at a deep discount. the white house pointing to the fact russian oil only accounts for 2% of india's imports. the imports represent the total amount imported in 2021, this morning defense secretary lloyd austin met his counterpart from india. this is as close as we heard about mentioning russian oil during this meeting. listen. >> beijing is not alone in the efforts to undermine the security of neighbors and change the status quo by force. russia invasion of ukraine and the humanitarian devastation that it has created are blatant attempts to undermine the international order that is grounded in the rules and principles that we share. reporter: so the meeting president joe biden and the prime minister of india, it should go a long way in showing

the amount of collateral that the president has and his willingness an ability to move world leaders to follow these sanctions which so far india hasn't been doing. back to you. neil: got it. edward lawrence, thank you very much. meanwhile focusing on the democratic attack on big oil you about that doesn't mean that they all hate big oil. in fact for a good many of them they invest in big oil. hillary vaughn with more on that on capitol hill. hillary. reporter: hi, neil, well democrats spent the past week demonizing big oil for passing down some of their profits to their shareholders but it turns out that dozens of democratic lawmakers are shareholders themselves. >> you have big oil that is spending $44 billion in enriching their shareholders and enriching their, providing dividends. >> big oil is choosing to keep supply low, prices high. their pockets lined with the hard-earned dollars of

struggling american consumers. reporter: congressman ro khanna in the past two years has bout several shares of exxon stock and chevron stock and sold some stock in valero. the chairman of the house energy and commerce committee, frank pallone also sold some shares in chevron stock and dominion energy stock just last summer. senator john hickenlooper who served on the senate energy natural resource committee sold a quarter of a million dollars of chevron stock in 2021. reported up to a million dollars in gains from exxonmobil stock that he owns but they are not alone. several other lawmakers we looked into also own energy stocks. they reap the dividends from those investments but some democrats want to put a stop to that for everybody, pushing for a windfall tax on oil company profits. the president of the u.s. oil and gas association, tim stewart telling fox this, quote, such a

tax will do nothing to increase supply but will take away ability to reinvest in production and new infrastructure. worst of all it restricts investment to those who invested in us first, including pensions, small investors, retirees who look to dividends to supply meant their fixed income. neil, some of these investments contradict the policies that they're pushing for but also their very public positions on climate-friendly policies versus fossil fuel-friendly policies while they're turning around and dumping a lot of their dollars into these fossil fuel stocks. neil. neil: hillary vaughn, thank you very much for that. hillary vaughn on capitol hill. by the way the irs is emphasizing again april 15th is not when your taxes are due. if you're late or procrastinator that is the traditional tax deadline but the irs trying to get the word out the actual due

date for taxes is april 18th. you have the following monday. if you already filed, that is not news to you, waiting for refund. who cares if you're running late. if you're running late, you do think you have to file by friday you have until monday. there you go. more after this. this is koli. my foster fail (laughs). when i first started fostering koli i had been giving him kibble. it never looked or felt like real food. but with the farmer's dog you can see the pieces of turkey. it smells like actual food. i saw a difference almost overnight. healthy poops, healthy dog, right? as he's aged, he's still quite energetic and youthful. i really attribute that to diet. you know, he's my buddy. my job is to keep my buddy safe and happy. ♪♪

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♪. neil: you know this is a big week for big earnings. we kick off with the banks, how they fared during the latest quarter. how they're sort of previewing things to come. jackie deangelis taking a look at that. all the other economic data they're keeping a close eye on this particular week. aye. hey, jackie. reporter: neil, that's right. earnings season kicking off on wednesday as you said the big banks start reporting. specifically jpmorgan. that is the first one. than thursday earnings from citi, morgan stanley, goldman sachs as well. the expectation we'll see a sharp decline in earnings year-over-year. roughly 35% drop in net income for the big banks. a couple issues to think about here. first investment banking revenues have been impacted by russia's invasion of ukraine but also last year with the reopening post-covid and also with the roll out of vaccines, the capital markets saw a lot of activity.

so the comparison is a little bit skewed to the, when you look back to last year. commodities have also been volatile. the banks trade them. that is something to consider too. we're not just talking about oil here but also greens, agriculture as a result of the conflict we've seen in ukraine. guidance could be a little bit of a bright spot though. interest rates are rising as we know. the banks will collect more interest on money they lend out while they're not paying so much more where the savings deposits that they have. so that could mean the year will be more robust. ceo's are also going to be asked how they think a prolonged war in ukraine will impact the global economy overall. also how quickly they think the fed will act to tame inflation. as well how the consumer doing with higher costs pretty much everywhere out there. there is concern that credit card debt will start to build back up again. these are things that we need to focus on. inflation, 7.8% higher than last year. the big question how much higher

are bankses forecasting it will go this year, how long they think the market conditions will make it last. we'll get a fresh cpi print tomorrow, neil and the expectation is to see a increase of 8.4% year-over-year. neil: that would be another 40-year high. thank you very much for that, jackie. let's go to scott martin and jonathan hoenig back with us right now. scott, we know that we're anticipating strong inflation numbers, very high inflation numbers. the fact is that even though americans wages have been moving up pretty smartly throughout all of this, they're still behind the 8-ball here, paying out more for everything from food to gas. how long do you think that remains that gap remains? >> probably the full cycle, neil, until inflation start heading back downward. to your point they are so far behind. it will be impossible to catch up given the structure of the labor market. a lot of folks amazingly don't

want to go back to work. when i look at financials, like jackie, talked about. that is a great lead-off for earnings reports in q2 here. but financials are not performing well at all. look at various stocks in the arena. jpmorgan, citigroup, wells fargo looks a little bit better. most of the banks look like in a word dog food on the charts. so something is going on there and for us we've been liquidating financials against the recommendations of a lot of other analysts out there especially towards the end of last year, getting more into real estate like xlre instead. that is better way to play hending environment instead of the banks. neil: this is one of those quarters, jonathan, where it isn't so much earnings that will get peoples attention but the guidance, particularly with banks. what do you think they're going to say? >> absolutely, neil. as you know the markets are forward-looking. scott is exactly right. this inflationary cycle is just at the beginning. if history is any guide this

would be a five, six, eight or nine year 10-year cycle which the banks probably won't benefit too much. scott is exactly right. banks should be doing very well right now because interest rates are going up. what is called the net interest margin is growing. as jackie said, basically making money on the loans but they're underperforming. my biggest fear is credit quality. banks have owned and issue a lot of junk bonds. 20 years ago junk bond yields were 18%. even now today they're only 4%. that is my fear the junk could get a lot junkier if the economy declines and banks will get hit in that environment. neil: we've been waiting, scott, if you think about it for the stag part of stagflation to kick in. it hasn't happened yet. all of us talked about this in the past. i'm fascinated by that. i think a lot of people who try to draw the '70s parallel have yet to realize, that part of it, the economy just rolling over and dying, that has not happened. now of course it stays like this

and rates and overall inflationary statistics stay like this, it could be a just a matter of time but do you think that avoids, scott, a repeat of the '70s for the time-being? >> potentially. goodness, stagflation era of the '70s, neil, is far away. we ain't seen nothing yet like we saw a few decades ago and hopefully we won't. the stagflation part of that thing is my life i get that part. with regard to the banks going forward what is interesting, neil, jonathan mentioned credit quality. i got a mortgage recently. did refinancing on properties. that is worse than a exam of a doctor you don't want to see with respect how much they were looking into me which is what is going on with gives me patience and respect what they're doing. i think unlike 07, 08 more care banks are taking in lending,

expanding the balance sheets. maybe when we pull out of this, banks finally get it together, the economy grows. there is money out there to lend. they are very stringent who they want to give it to. that could refire the economy if things line up directly. neil: scott, this is a family show. >> i thought this is cable. neil: i assume you were talking about the dentist. >> yes, yes. neil: of course. jonathan, young investors in particular were drawn into this market in the second wave of it, the bull wave. and i, i hasten to add that a lot of them took their time coming, maybe burnt by, what their parents went through the financial meltdown, what have you. i'm wondering if you know, twice burnt, are you really shy on that third go-round? when do you think? >> neil there is old saying ah always avoid the herd. find out what the herd is doing, trying to do something else. go back to the late 1990s.

most people didn't invest in stocks until january of 2,000. that is when most of the money came into the financial markets, when prices were at the top. we've seen more money come into the market just the last few years. a lot of it, not to denigrate them, robinhood investor, younger investors who have not seen interest rate increases commodity price inflation or bear markets. those of us who have traded been around a little more have seen. markets can decline and decline quite precipitously, even good names, good stocks, apple, tesla, all the rest. good stocks and companies are not the same thing. right now this this is good time for caution. neil: guys i feel really old when you call yourself a yoda, jonathan. you aarp long enough you been that way. we learned a lot more than we really wanted to. a lot more coming it

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neil: twin troubles to worry about not only russian preparing for a ground campaign that could make some of the vicious attacks that are orchestrated seem pale by comparison. then was going on in china, right now expanding the nuclear war chest added time when we are worried that russia might do the exact same thing. were on top of fast-moving developments with ashley webster in florida. >> although, there are several

factors that play as china watches with great interest, how the u.s. deals with russia's invasion of ukraine. the weariness that has to be said of the u.s. to get directly involved in ukraine is probably a reinforcing beijing decision to crank up the nuclear arms as it's a deteriorate especially with the conflict over taiwan. you can see how this links together. ukraine has offered chinese officials a real-world lesson about the strategic value of nuclear weapons. as the wall street journal tech entry points out chinese leaders had seen nuclear weapons of being a limited value because they don't offer realistic options about fighting most wars, now apparently the thinking is changing work has accelerated this year more than 100 suspected missile silos and china's remote western region that could be used to house nuclear weapons that aren't

capable every to the united states. china is developing more advanced weapons that could potentially carry nuclear warheads including the much talked about hypersonic missiles which the u.s. has no proven defense against it at this point, beijing maintains it is nearly financial defense. but there is growing concern that rising tension between the u.s. and china over nuclear weapons could throw the world back into the cold war style nuclear standoff. we shall see but things in china are becoming a little clear as to where they're headed. >> the difference this time versus the last was us in the soviet union, that was a worry, now we have china to worry about. it compounds as it were. thank you very, very much let's go to john hand of the former national security advisor to vice president cheney, what do you make of this in the twin threat you almost get a sense to china and russia planning this

together in the twin fears that are building with both. what do you think. >> i think this is a nightmare scenario for american national security strategist who is joining the forces and the resources. the population of china together with russia. it is something that we never had to face before other than the first few years after world war ii but we quickly had that china russia slip with henry kinzinger and president nixon exploited but to have these both together now with the single-minded purpose of undermining and destroying american power in the u.s. global order is a new strategic challenge that would never face before. >> a lot of the tension back in ukraine i wanted to get your thoughts on this general

communion. maria: targeting civilians and repeated up to put the fear of god into them. that is not too different from the approach it seems that russia has been taking in ukraine but this would look that substantially, that is the fear, is it warranted? >> it is absolutely warranted this guy was known as the butcher of syria for the short period of time at the beginning of the syria intervention in these forces. i think you are right, the russians have been doing a pretty good job already. massive war crimes bordering on genocide, what they have been lacking is any centralized command and control to really focus these efforts to completely terrorize the ukrainian population and depopulate cities in general may be the man to try to centralize

that command-and-control and make it even more destructive and effective that is 30 been today and destroying ukrainian morale. >> i want to pick your brain a little bit on this conversation. the president is having with india the prime minister, we've been very tough on china for not condemning what russia is doing we've been much less with india and you could argue that india is buying more oil from the russian then china is at this point into believe some of those numbers, while that has not condemned russia and certainly not agitated things to the point that china is blaming the west we have given you the past, why? >> india is too big. it's obviously a sale of democracy it is one of the two together with china really rising economies in the world

and the indians and chinese have been at each other's throats for decades. the hope for a strategic play that you will eventually be able to bring the indians over into an american led alliance to counter china and asia. that is still the play. i think it is right and hopefully the president is been very tough with our european partners in our european partners are being tough in his future and india's future as a major economy into democracy lies with the west, not with the failing autocratic tyrannical russia whose economy is about to go into the toilet. neil: it is interesting we focus on russia's economy and the problems that it has, it is about down 10 - 15% but the actual financial hit to ukraine

has been far greater about 45%. what do you make of that and the pressure it might put on ukraine to find a negotiated settlement? >> ukraine is the subject of a massive war that we haven't seen anything like this since world war ii russian territory in russian economic targets are off-limits to the ukrainians. this is not a fair fight in ukraine is going to be extremely dependent on both massive quantities of russian arms especially with the new offensive company did the east and undoubtedly a massive western international financial and economic assistance to keep them fighting another day to ensure that putin can't achieve his strategic objectives. it's going to be very, very

costly for the west in the united states. >> if you don't might be going back to china for a second period. the fear that china will start offering military aid to russia or certainly more economic assistance. do you think china looks around at the economic isolation of russia from the fact that vladimir putin himself has been pinned into a quarter, they don't want to go that way, their economy would take a far greater hit in far more lethal to them economically, the type of sanction and punishment we put on russia we put on china. do you think that gives them pause, they might talk a good game and railed against what's going on but they're not good to do anything. >> there is no question to give them pause i think the chinese

are playing a very delegate balancing act. i don't think they had a clue like most of us did not have a clue just how poorly and catastrophically the russian military would fail and get bogged down. i don't think that they believed as putin didn't believe that the united states and the west were capable of coherent the way that they have in slapping these kinds of powerful economic sanctions on russia. i don't think the chinese want any part of that, they don't want a part of the losing effort at the same time they are very eager to see the united states focus somewhere, anywhere other than asia and a pivot to asia and they are anxious to see america get a blood he knows in week it is power internationally this is typical for the chinese that they have proven themselves masters not getting too deep with anyone inside and not getting deep with the losing

side which hopefully will be the russians in this case. neil: that is very well put. great seeing you again. following these developments, we are following twitter as well the stock more than holding this own that elon musk does not want to join the twitter board after all. what started that, we are on that after this. ♪ meet jessica moore. 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. ♪ ♪ ms. hogan's class? yeah, it's atlantis. nice.

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tell your doctor if your crohn's disease symptoms develop or worsen. serious allergic reaction may occur. best move i've ever made. ask your dermatologist neil: he is not joining the board elon musk the largest shareholder in twitter will be made that but will not be joining the board. what happened, kelli o'grady in los angeles with maybe some answers. >> good to see you, ceo shared the news last night that elon musk declined the invite to join the board in the headline with that move elon musk and by the company if you wanted to if you no longer bold into the 14.9% ownership restriction that came with board membership. an sec filing for the weekend showed elon musk is keeping his options to do that stating he could acquire additional shares of common stock.

the reporting person may express his views to the board were members of the issuer's management team and the public through social media. i want to highlight the last part summer speculated that elon musk's decision could not be reached unless tweedy netiquette. is not been shy about how the company handles free speech were soliciting input from users, just this week eddie posted and deleted in the tiebreak of suggestions focusing on everything from bidding average on the platform to turning headquarters into a headquarters. now who go for a hostile takeover, elon musk did not have that much cash on hand or he would have to sell a bunch of tesla stock or team up with it activist investor in his theatric is made the stock more pricey than when he first purchased the stake, elon musk has significant influence with his 81 million followers and is now the company's largest shareholder, as it stands he does not have the power to make any changes to free speech were reinstate any band accounts as people have been calling for,

lonely message from this because tirade of questions whether twitter is dying, make of that what you will. >> i invested a gazillion dollars. thank you very, very much, charlie gasparino what is going on. >> i like the homeless shelter maybe we can get the guys off the street. >> what do you think happened. >> what if you looked at the requirements and realize he has to go to meetings, he doesn't seemed like a meeting guy. >> i think he does want to increase the stake a little bit more. >> you limited at 15%. >> 14-point something, i'm just asking ceos what they think, i think it kind of makes sense, he wants to push them to do certain things, it is hard to do that if you were on the board. if you were on the board you

have fiduciary responsibly to the shareholders and you start doing stuff that attacks the company theoretically hurts the stock price, you could be sued, you are open. >> that is why the board wanted him. >> to keep him quiet he does not have to be quiet. the other thing that was happening at this time, democrats in congress were clearly targeting him, i got this from my sources on the hill were saying there is lots of talk among democrats, maybe investigating and raising issues with past statements and whether the past statements jibe with reality, getting the sec to investigate. that was going on, on top of everything else, tesla tesla shares were offered a week, there was a lot of talk if he's going to be on this board how many boards and how many things can this guy who is famously doing rocket ships a new type of internet, tesla, everything else, how does he have time for twitter.

i think it's a combination of all of those but i think if i was to point the biggest thing is probably he doesn't have to keep his mouth shut when it comes to tesla. neil: he now does not have to meet with twitter employees. >> no he never had to meet with them and as a boardmember you generally don't have to. >> that was before this news he make a vaccine i want to be with him and say if you're not on the board and just a shareholder you can do a lot. they theoretically could do what they did to trump and kick him off twitter. >> didn't management say we will see craziness going forward. >> they said they were open to his ideas of change and also to allow conservative voices. one other thing i left out clearly twitter faced immense backlash from its broken

employees. i would bet my bottom dollar that he would try to reinstate donald trump to twitter. >> is that still off the table, if you are twitter you're not going to do that. >> twitter will be under so much public pressure from republicans. republicans take the house and the senate there are certain things republicans really want to do if they get the house in the senate, they are going to put a tenant pressure on gary gensler at the fcc no doubt about that he's taking corporate disclosures to a whole new woke level. they will fry them if he had if they can. think about the house and the senate they will go after dr. fauci, it could be very difficult for him to do his job if the republicans get the house and senate because they believe he is a lightning rod for conservators. that is another thing. another thing that is on the table is whether twitter at social media in twitter

specifically is biased against conservatives. >> is a typical all technology companies. >> twitter has a high profile because they have trump. >> did you note twitter -- remember facebook and all the young people in twitter now they say twitter. >> you have instagram? neil: i don't know what i have. i understand social media will be huge. >> i have a twitter page. >> you are hip. >> not because i want to but i just think from a political standpoint i thought putting elon musk was a master stroke from a political standpoint because he could block the republican stuff. there get it come after these things. neil: even though he gets a raptor being countered the main, i would not say he is a raging

conservative. he's more of a libertarian. >> the new political environment which used to be center-left is now conservative. the democratic party has embraced such a loony left like socialism has a role. bernie sanders is calling a lot of shots with biden economic policy and he has the de facto veto policy over appointments to key economic posts, aoc. i'm kind of proud that another graduate of yorktown high school has the ear of the president. neil: slightly before her. >> i just wish it was somewhere else and not her. >> i wish it was somebody who passed irregular economics class not home economics. neil: there still calling the shots. and by the way that's what freak them out about elon musk getting on twitter, he would've been taking the social media away

from that. >> by the way, instagram has become the default of late with younger people. >> i tried getting into tiktok, i could not dance. i cannot see myself dancing. neil: have to get more up to speed with the stuff, it's going to be big. >> you should do a cooking show. >> that would be pretty good. >> are you feeling okay? >> you keep interrupting. >> i'm trying to steer you away. >> there is emotional support that can only last so long. >> charlie gasparino one of the most human beings on the planet. we will have more after this

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speed would remember during covid college tuitions would stay put and not get too exorbitant because classes are remote and all of that. that may be some of the ivy league colleges would branch out and not be so super selective. the office that is happening on both accounts. the latest from lydia hu paid what is going on. >> we are seeing college applications are surging in one of the reasons the sat and act the standardized test optional during the pandemic. now highly selective schools with fewer than 50% of applicants have been the greatest growth and application since 2019. they got up by 26%, harvard university for example admitted

3.2% of the applicants to join the class of fall 2026, brown also reported record low acceptance rates, foreign half and 5% respectively. concerted experts are the tuition hikes that some of these schools, harvard tuition has surged more than 10% over the last four years, costing more than $55000 for a single year. yale and brown have spiked their tuition by more than 12% over the past four years costing nearly 60000 at yell in 62000 and brown. what is concerning the experts that i've talked to at the american enterprise institute. the surgeon interest coupled with the surgeon interest in surging hikes intuition means there is a sense that price does not matter now that we have a positive student loan. prepayment that will exacerbate the problem from young people

that they borrow today to pay for school now may have to be repaid for a very long time from now and in some cases if we do have student loan forgiveness that we are called for maybe not ever. neil: i like that maybe not ever part. thank you very much, lydia hu following those developments. we are waiting for the ministry should outline the program to deal with high crime, it does not have some of the solutions you might expect going after the guns and not necessarily some of the generous allowances that get criminals back on the streets and repeatedly causing the same crime. joy did this right now the florida congresswoman and sits on the homeland security committee. congress will but i was thinking of you, this is like a homeless security issue in itself. but having said that, the president is going to go after weapons again but it does not call for the time being, talking about the white house plan for

hiring more cops or any of the stuff that i know that you advocated. where is this going to go? >> again divided the administration misses the mark it is another day and another example of a gross overreach by this administration. first and foremost this is a blatant disregard for article one section one, congress makes the laws and not the administration. let me be honest, i talked to the sheriff's up-and-down the state afforded today in the wake of this announcement and not a single one of these shares represent rural areas, urban areas, big cities, little cities, not a single one has an issue with ghost guns. many were saying i don't know why they're even focusing on this, there is not a law that a bad guy were criminal is going to follow. why would make it harder for a law-abiding citizen to protect themselves this is another way to grow the federal bureaucracy, the atf an unconstitutional entity in itself.

it'll put more pressure more regulation on small businesses and manufacturers and quite frankly a big payday going after these manufacturers. neil: where we going to go on crime, you could argue i know in new york they said they would really crackdown on some of the mentally disturbed individuals pushing on tracks and attacking them on subway stations, that would ease, has not used. i'm wondering how do you address that part of the problem at this early stage, i cannot be wrong the president is not. >> they have done anything but tackle crime and if you look at the crime that is surging in the big urban cities with the gun control laws on the books it is the most violent. maybe they should take the pages out of a red state like florida where we will be a constitutional carry state when you look at what the regulation

is supposed to do they want to put serial numbers on the different components. you want a better safer community, fully fund the police, give them the resources that they need stop talking about defended the police that is foremost, let's get the das out and let's enforce the laws on the books, let's make sure that we have tough bail requirement and outputting violent criminals back on the street, it is pretty simple, common sense is not common, especially in washington. neil: that does not appear to be the case, you have to you the full details of the white house but it looks like some of the things, not part of this plan but you wait and hopefully we will see. afforded congresswoman on the committee, reported congressman at that. take a look at what's going on with the airfares, they are going to skyrocket. that is the bad news unavoidable, the good news is there will be fewer chances of cancellations for the higher

airplane tickets because there are going to be fewer flights after this.

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see if a reverse mortgage is right for you. call now, the number is on your screen. neil: here's the good news on airlines and stocks are off they will do everything in their power to cut back on the delays and those stranded because cutting back on the number of flights. the bad news it is going to cost you more because all of this is happening in an environment where fuel prices are still going up, madison all worth has more from newark international airport. >> unfortunately i was a victim of one of those cancellations and i paid a ton of money to get the flight in the first place, this is what were dealing with americans that are fine paying top dollar for their price, price increases from the demanding more from high in the jet fuel prices seem superhigh we have seen a 40% increase in cost since the start of this

year. jet fuel was a big jump travel analyst were not expecting that is contributed a lot to the price going up we seen a 40% increase in the cost of jet fuel since beginning of this year estimate show we will see a 70% increase year-over-year for the cost of jet fuel this summer. right now domestic airfare will cost you an average of $330 a trip. hopper was not expecting that number to hit us until june. now they are saying a 10% price increase meaning we will pay an average of $360 a summer for domestic trips, americans are really paying way more than they are used to. >> we have some clients in newark, will be going back and forth for 120 round-trip this is a shock. >> we were paying $100 round-trip. now were looking at $400. >> , $600 from orlando to new jersey. it's ridiculously crazy.

we got used to lower prices during the pandemic but the prices we are looking at now are about preparing to make levels, were at a ten year high per ticket prices right now the u.s. but as you mentioned in the report it is not slowing down travel at all airlines making adjustments jetblue announcing that they will reduce the trips that they make the summer they canceled over 300 flights this weekend and they cannot hire staff back in there clearly ready to travel again. neil: what did you do when your flight was canceled were you able to rearrange another one? >> i was supposed to fly from laguardia to north carolina there was no flights until saturday afternoon i drove overnight with my friend from laguardia to boston and got on a flight from boston to north carolina i stayed up for 36 hours it was absolutely insane. thank you very much, madison all

worth, a part of that equation but you see at the pump but what you might be noticing at the pump and not to spoil you or think this can be long-lasting prices are dipping down a little bit, let's get to read from the another then the gasbuddy.com had a petroleum, good to have you back with us. a little bit of a down to an prices at the pump, what is going on. >> more relief our third straight weekly decline. oil prices with the falling oil prices are having a profound impact, americans collectively saving $100 million every day nothing light of the lower prices, the good news with oil prices down today significantly. we will see a fourth straight week of decline across the

country. neil: is this because her partially because of what is going on in china with the covid spiking cases and staffing demanded shutdown, what is driving it. the surge in covid cases and how chinese are responding to the search in the travel restrictions as a result there is a tremendous amount of demand happening in china intercourse now in the u.s. there been continued talks about the possibility of recession in interest rates and inflation continues to go up through the primary concern of what lies ahead what's happening in china. neil: when prices go down this comes at a convenient time for those hope to take to the road for passover and easter and into the summer. give me an idea of how you see the summer driving season. >> i think the real possibility that gas prices may have peaked

for the year ahead. i don't have a crystal ball it could dramatically worsen in covid is not behind us either. i'm hopeful there may be potential that gas prices may spend most of the summer in the 3-dollar range, maybe more improvement, keep in mind i think this is the most challenging summer to accurately predict we could go higher if there is unrest or escalation between russia and ukraine. the typical caveat applies in hurricane season is supposed to be a busy one the nation continues to draw down the spr. there is a lot of factors that could result in different outcomes this summer but hopefully the worst may be behind us. >> i hope you are right, the gasbuddy.com had a petroleum analysis. this is been a steady decline and has nothing to do with some states mixing the gas tax this is an average of the actual prices. these are core figures.

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neil: we have been telling you the nasdaq is taken on the chin not just because of the rising interest rate environment for chipmakers especially including nvidia and a host of others, the story is china at a spiking covid cases are the ba.2 sub. that seems to be the spreading well beyond shanghai. as well in a lockdown not as severe as shanghai but disrupting technology that has been felt as far and wide as apple and tesla, both of them had to delay reopening of their facilities in that neck of the woods. the variant of whether this is something we should worry about, jonathan serrie has been looking at all of this and joins us out of atlanta. >> here in the u.s. we are debating whether or not to wear

a mask, a magic debating whether or not to be locked inside your apartment, that is going on in china whether a surging case is driven by the highly infectious omicron sub variant ba.2, the worst of the outbreak remains in shanghai with a record of 25000 new infections on sunday. more than 96% of these infections are asymptomatic. some experts question whether china's lockdowns are necessary. >> i think that we know that lockdowns do not work and hopefully we have learned that lesson for own nation. they cause more harm at the end of the day than they do public help benefits. i think you have seen that china's zero-tolerance for coping did not seem to work with the huge outbreaks in hong kong and now shanghai. >> the chinese government says the lockdowns are needed to protect vulnerable populations, elderly people have been reluctant to get covid shots in

china. residents are completed about shortages of food and other supplies as china severely limits movement in shanghai, some residents are telling reuters that you have these neighbor committees going as far as to put bike locks on their doors to make sure they do not leave their houses and apartments. neil: that is a little extreme. what is the worry about that. i know 90% of the new cases of the ba.2 sub variant variety. it seems to be very contagious but even less dangerous than omicron which itself was dramatically less dangerous than covid. what are you hearing? >> what is happening ba.2 is the dominant strain here in the u.s., it is more infectious than previous strains, here in the u.s. especially among the vulnerable population, the elderly is a very different situation than china where you

have the highest vaccination levels among the elderly in the u.s., that affords them a lot of protection against the coronavirus in general. but also the ba.2 sub variant. while cases may go up, we are at a low right now seen a slight uptick. hospitalizations remain extremely low and they are predicting federal health officials believe even if we see another surge. you are not going to see the same level of hospitalizations and deaths that we saw during previous bikes in the u.s. neil: i hope that they are right about that. great reporting. the financial background on china is already clear. the markets have been swooning. they also have an inflation problem going on. that way on all the averages on how long that is going to be the case. the market group managing

director. michelle, thank you for joining us. what do you make of what is going on in china. let's say they get a handle on the latest covid wave but it is delaying pretty much everything including opening factories even trying to reopen factories and a host of other cities feeling the same pinch. >> is so interested that a lot of people from the unrest because of the food problem are unhappy because they feel like they are taking care of them on the shutdown. my "fox & friends" in china it is exacerbating an already bad situation. and continue to be impacted and more self-sufficient.

that's why they have an association with russia in their hand into every country whether it's a grain producing country in oil-producing country, for us in the united states not only is this going to impact us, covid test i took this morning made in china that brings what is going to happen to our goods because we still really like the cheap goods from china in this country regardless of what we try to do in terms of regulation. all of this is going to continue to be a very difficult situation but for the u.s. markets as well. if you want to take that one step further china and their affiliation with russia with the d globalization. we in the united states are going to have to make a decision. whether we will continue to compete with china on some level were whether we will try to coexist. this is a really big pandora box that we have going on right now. neil: i am wondering, we focus

on inflation in this country rightly so. in the inflation number out tomorrow that could be running at eight and half% in rate at a 40 year high, we forget china conditions are even worse in that regard, the wholesale inflation number is running double digits year-over-year. this is a global phenomenon and led by china, extending to france that's been a very big factor in the relative tightness of the presidential election. you see this continuing for a while? >> i do unfortunately. i wish i could sugarcoat it but i cannot. there is another aspect which is what is happening to the inflation in china, the 5.5% growth that they expect now is really in question. whether or not china can come back to the full capacity and how long that takes will also impact everybody and also as we

look at it with a model that is something that we are facing here the united states. how much growth can we really expect depending on how about disinflation continues which i see for the next two or three years. that's what i think, i don't think you can get this food thing under control that fast. what does it happen to our bottom line gdp, we're starting to see this slowing and the growth cap stocks but in the united states in general. so much money is gone right now to try to fix this problem but even though we have a hawkish fed we are going to see a lot of spending to try to figure out how we see people who are hungry in this country and how do we support the farmers and everybody else to grow food to distribute that the country and globally. >> we are living in a world adjusting to higher rates, perspective is everything those of a certain age like me who look at a 5% mortgage and say that sounds like a bargain to me compared to when i got my first house in the 80s and the whole

group of buyers it is a whole different map. there could be a buyer result were laid out in the face of this. and then comes the stagnant part of side entrance to inflation, do you see that? >> yes, what is interesting about the housing market, that is very regional. if you look at those places, let's take where we live in santa fe new mexico, the house per square foot is still so much cheaper than in california in the big urban areas that we still have a housing shortage and people are running out thinking 5% maybe it'll get six or 7% and there is no inventory. we are at a point of the big bubble but we know it could happen at some point people will say i cannot afford and people will stop buying and builders. building we are see that happen. and this could also be another "house of cards" going back to

china. they have 90 trillion and other real estate market. evergreen started the topple there. again if we look at that as a model and if that happened somewhere like that the united states i don't even want to think about the bigger problems that that will bring. neil: thank you very much. on the same subject before we go to a quick break. jen psaki is talking about some of the protections and economists have made about an imminent recession preach she does not see or the white house does not see a recession coming in the next two years. a number of economists have said by goldman sachs that were going to be seen one in the year 2023. i believe in the second half of next year. she is not of that view. nor is her boss. fingers crossed. we will have more after this.

. . . . neil: charles payne through the next hour. great to see you. charles: great to see you, my friend. earnings are taking center stage. rampant fear of a fed mistake. we got what you need to know. critics have a new warning. crypto will cause another 2008 financial crisis. i will ask the michael saylor. he is here on the show. what do the if he and