16% of the population, breaks down into 30 million women, 24 million men. i am not happy about that. why is it women live longer? than men? flat out discrimination. fortunately the time is up for me so i can't put my foot in it anymore. neil: where do we begin? i caught that actually. have a great weekend. thank you very much. welcome, i am neil cavuto and we will take you coast-to-coast on a ride for the markets and if you are concerned about april showers bringing may flowers if your idea of showers was a lot of selling you hope for the reverse in the month of

may. all the major averages are looking at appreciable losses in this month ending development here. last month, gary kalbaum was concerned about this. we will talk about that in a second. the battle for twitter is still on despite the technology. for a brief period i don't know if it is holding. twitter and tesla fighting a transfer technology stocks, down down down. that would be confirmation elon musk is battling what he needs to put the deposit down on that and use the rest for collateral when it comes to tesla stocks, sold out $8 million worth of shares over the last two trading days. there is no guarantee of that. it might be fairly limited if that is the case, stock had gotten.

and and lost 100 million in market value as a result of the fall off. that goes to kelly o'grady. what are you hearing? >> he is inching closer to the $21 billion in cash, sold 8 billion worth of tesla stock. roughly 4%. he did tweet out no further planned sales, 16% of the company doing quite well but now he could have another hurdle to clear. homeland security secretary mayorkas, 2 police content ahead of the midterm, this board is going to be the

censorship arm of the white house. >> these privately owned social media entities to censor certain things, it implicates first amendment concerns. >> elon calling the new group discomforting and the new disinformation czar leading the board is already stirring controversies. most notably about hunter biden's laptop, suggesting the laptop was russian disinformation and the story from the ap calling the new york post hunter biden story of trump campaign product. musk stated he considers himself a free-speech absolutist. the spending on the oversight board's definition it was tough to navigate. a source and twitter telling me many employees are cheering on the oversight board hoping it will impede his plans to overhaul the company.

still some drama. neil: a little bit here and there. i want to go to gary kalbaum. want to get some insights that others are missing. so good to see you here in the flesh. let's talk about this whole twitter deal. i might be in the minority. i don't know if it goes through not because regulators intervene though it could still happen but maybe maybe elon musk changes his mind. >> 6 months is like a decade. i think the same thing especially with elon musk. he had his way of changing his stance, saying something different from the day before. i think this happens unless the

nasdaq really croaks and let's tesla stock take a huge hit from here and yesterday it was down $175-$180 billion from the day the announcement of it and a lot of it has to do with him selling left and right and as soon as he said that he stopped, we are back up half, still down $90 billion so this will be about tesla stock. neil: twitter is not offering price, it is inching up. what is the market telling us? >> it is normal to have a discount or a buyout when there is uncertainty. for me the big thing, there is something called tesla shareholders in this story. of tesla stock, far process spends too much time with twitter and got to forget it there can be a big discount. maybe change his stance,

shareholders will put pressure on ownership when prices go down. neil: let's say this interrupted trend that had been in place a few days where tesla stock slides precipitously. it start sliding again, wouldn't that be the adjutant for him to say i've got to rethink this. >> every $10 down will be bad news as far as getting the deal done. unless he is so determined. it is not just elon musk but tesla shareholders. government looks like a straight attack on this news, didn't come up with a disinformation program with the washington post but all of a certain -- stuart: to bake this issue on whether it is in his interests to keep pursuing this, if it

gets to be a hassle and second-guess, one of the savviest investors period. there is the china factor. half of the manufacturing activity is china, the market for the goods and those goods are made. what is to stop china, no fan of twitter, and twitter's alliance with the hong kong protesters, to use that as a wedge to go after especially with chesler. >> china uses a wedge, of course. that is going to be part of the equation. i was asked the other day if i was elon musk and take away part of free-speech, i wouldn't have bought twitter and the

simple reason why, tesla, i never believe in -- why screwup a great thing, space x is going to be gargantuan, unbelievable market. neil: he is half of that. >> maybe more and he goes outside of his box into another category where he is watched over left and right, you got to be careful what you wish for sometimes and if i was him i wouldn't have done it but i wish i was him but -- >> many naysayers -- >> that's part of the equation. anyone who has doubted him has paid a price come anyone who has shorted his response paid a huge price and gone out of business. neil: he is his own man, long before the wealth, like your investment strategy but he didn't get it to him and i always admire that.

>> watch his tweets. >> including the price. >> 3 years ago there were doubters on top of doubters on top of doubters and proven them all wrong. neil: and other development concerns inflation under certain number the federal reserve follows that it likes more than any other when it comes to inflation, twee 8 different metrics they can use and all this other stuff, there is a special one that was alarming today depending on the timeframe you are looking at. edward lawrence has more on that from the white house. >> that special measure, pce inflation is what the federal reserve, the highest level since january of 1982, year-over-year, that is a continuation of the trend the white house and federal reserve has not been able to bend.

look at this graph here. overall inflation increased in this report. it is the first that includes the invasion of ukraine. the white house said they are looking at month over month changes in the data so month over month overall pci, to 0.9%, a huge increase month over month for this measure. core pc information stays the same, no drop-off, they expected this number today, and they are shaking their heads. >> we have problems with covid but it is in retreat right now. i think with the right economic policies like trump put in place we would be booming if not for the biden policies. >> a former economic adviser for the obama administration asked the white house the

message is the invasion of ukraine has now upended inflation in the us. >> there are some substantial geopolitical risks that could usher us toward recession. let's keep an eye on that. >> the federal reserve keeping an eye on wage inflation cycle. employment costs surged to 38 year highs in the first quarter. companies will be forced to deal with paying their employees more and adding to that pressure for that cycle, not saying that cycle is there but pressure for that cycle. neil: the good news in the latest reports is we are still spending, unfortunately the prices has not changed. >> the ee in the pce is expenditures, that is real world and you combine that with

the other part of the one-2 punched to accommodate for inflation the bond market, the interest rate yields have been spiking again. the one year yield was at 010 months ago, it is at 2%, the one year yield so what you have is the cost not only of everything going up but the cost of capital going up, mortgages going up and last month i was here the same day this never came out. i'm done being worried now because the longer this lasts the worse it will be for the average american. consumers are being crushed by this. neil: always focus on the core inflation, the 5. 2% videos down from what it was year over year, 5.3% so boules will latch on to anything they can get their claws on. one analyst was saying we

topped out on inflation. >> you can pull back from here but the trend is up and -- neil: even nominal dips keep us at a high level. >> when we talk about markets there are corrections at all time but the main trend is uping prices for everything. all you need to do is drive down any street and look at the prices for gas, going to the supermarket and see the prices, everything is up in price. i hardly see anything down and i speak to the people running these supermarkets and they all said -- i go telling what went up in the last month, they take me to this island that i'll, that is still going on. i am not thrilled by this. the fed will raise rates, they are supposed to be the fighters of inflation, they will be at 3 quarters of 1%. if i took over i would be

raising rates to 1.5%, to let the world know we are not kidding around it may hurt the market but if you don't get on top of this this does not reach the same we will enter the 70s, things can get out of hand and if interest rates going 5%, 6% look out below because we are $30 trillion in debt, so much leverage, the amount of bonds is ridiculous. corporate america, the cost of capital skyrocketing i don't think is good news for markets or the economy at this juncture. neil: if you are a floridian, that state is booming but they are well aware of the rising cost including real estate which is harder than hot. any sense there that it is about to run dry? >> they are still telling that. everyone i speak to cover the businesses i speak to haven't seen much yet. i will say at this, that the

amount of fights going on to pay a higher price for housing has stopped so bidding on top of each other is going on but it has stopped so that is coming down. i've yet to see inventory spike. that will be the worry because prices went vertical for many areas and i call it the eiffel tower affect, vertical can come straight this way. neil: you don't see it like the bubble we had a decade ago. >> in certain areas i haven't seen the pop yet especially in florida. stuart: see you later on the show. one thing that could stop this into might be a boom here is china. things are going so poorly, the economy is contracting so quickly and the fear of spikes in the covid virus has put a damper on industrial production

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neil: china, the global economic savior, i might be making a stretch but things have slowed down so dramatically in china that not only is it likely to mean the china doesn't entertain helping russia in ukraine but could put a crimp on industrial activity has already has in the technology sphere. remember the shutdowns are spreading through the city at the pace they were earlier because of spikes in covid cases and the affect could offset what is happening with oil prices and the rest right now. for right now, those prices continue to move forward. >> reporter: this is not good news. oil prices are higher for the fourth day in a row as fears

over russia's apply disruption. as we saw, west texas intermediate, i can't see that far, 106, about 109. oil prices weakened by china lockdowns, china, the biggest crude import or facing its worst outbreak, they are sticking to a dynamic 0 covid policy with no indication they will reconsider such strict protocols, beijing released closing a luxury mall today and nonessential businesses are locked down but not all china is shuttered, some businesses in shanghai and northern china have resumed production but top leaders in the country say covid and the ukraine crisis are creating challenges for the domestic economy, wall street is cutting gdp forecast as low

as 3.9%. that is unheard of. china hurts the broader global economy. anton shultz says that this. do we have the film? a film? >> the desire to bring the supply chain here. there need to be incentives. they are in scented as is. >> the country preparing to had a pause on the campaign against technology companies because of economic weakness. planning to hold off on roles that would limit the time young people spend on mobile apps. the government also considering forcing tech companies to offer 1% equity stakes to the government and a role in corporate decision-making. neil: don't know if that would be advisable. like putting me on a dietary committee. don't go there. thank you.

we are talking about how the china issue puts a crimp down the road potentially on oil prices, maybe inflation and the aggregate and in the near-term not doing anything to disrupt the oil price but on the flipside if it does continue is it might limit what china can and will do on russia's behalf when it comes to providing aid. forget about military aid, economic aid, something to explore with joe lieberman, former connecticut senator and democratic vice presidential candidate. great having you. what do you make of that theory that in this environment, awful as it is for china and the sudden contraction it is dealing with, not recession but well off the highs, in no place to help russia right now. >> good to be back with you.

absolutely right. only a few months ago, three weeks before the russians invaded ukraine that putin and xi jinping met in beijing and gave each other a big hug, the closest those former communist countries have been in decades, and very stridently anti-american. a democratic time, not an attempt at human rights but russia's invasion of ukraine made their relationship, southern beijing has no limits. it may appear there are limits and xi xinping's desire to

maintain control of china, all the surveillance and everything else he does is not going to do it unless his economy is producing and it is in trouble now. china is a rising power but it is not perfect. and we are finding china has given lipservice to russia over the invasion of ukraine. they've not said it was an invasion but the rest of the un security council condemning russia but on the other hand, this is an important market. pulling back from trading with china, aligned with russia, and now putin is the enemy of europe. it is a very interconnected

world and china's troubles and russia's invasion could combine to make things better for us exactly the way europe said. neil: are you surprised speaking of russia that vladimir putin hasn't been overthrown? there are reports in the wall street journal, the financial times talked about a number of tycoons and oligarchs who not across the board but some are speaking out against the war, most are out of russia, not saying it within russia but be that as it made it is not put vladimir putin at risk yet. >> probably right. he has enormous control of the apparatus of government and he cleverly a appeals to the nationalism of the russian people a lot of whom have felt

ukraine as he feels should be part of russia. thousands of russian soldiers are dying and that is causing problems. the difficulty the russian invasion of ukraine brought to the russian economy is also causing him difficulty but to really take out putin you would have to have somebody close in who he trusts to turn on him and that would take a lot of courage. it would take a lot of guts. neil: great catching up with you. former democratic vice presidential candidate, always his own man. here is a concept we call selling, the dow down 467 points ending awful month of april even with the gains we

saw yesterday. the nasdaq in particular one of the worst months it has seen in decades, picking apart those numbers right after this. ♪♪ every move you make ♪♪ every value break ♪♪ every smile you make ♪♪ every thing you speak ♪♪ i will be watching you ♪♪ every move you make (vo) while you may not be closing on a business deal while taking your mother and daughter on a once-in-a-lifetime adventure — your life is just as unique. your raymond james financial advisor gets to know you, your dreams, and the way you care for those you love. so you can live your life. that's life well planned. ♪

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>> enough is enough! we are mad as hell and can't take it anymore. all we went is safe streets. the 8. 5 million people in our city deserve to be safe. neil: that is the problem. we talk about people slowly coming back into big cities

like new york, one of the most successful new yorkers around runs among others very successfully. one of them was held up by a guy who tied up two workers and ran off with 3,000 worth of goods. at this point i don't believe they found the guy. i think those workers are okay but that's your point, the crime part, that is what people are focusing on in the city. >> 100% correct. people that come in ride subways. the subways are fool of criminals the jump the turnstiles, the streets of new york are fool of homeless, criminals. what i said to all the politicians in albany, all the politicians, enough is enough, new yorkers are angry, they

can't ride the subways are walk the streets in peace, there is 8 million new yorkers and from what i've been told, 3000 violent criminals that commit 90% of the crime. of those 3000 violent criminals, not talking the guy who steals some bread because he's hungry but violent criminals using guns. neil: and they come up to his vehicle, and a lot of these attacks are just like that. people doing their normal thing, not in the wee hours of the night and i wonder what has changed here, this is parking up across the country. he's having a devil of a time fixing it but where do you think this is going?

>> it is an attack on america, an attack on the way we do business, the way our legal system works and we have to straighten it out. the mayor of new york, has to become the nation's leader in straightening out among democratic cities because of democratic cities that are having the problem. enough is enough. they are looking for leadership to straighten things out and the violent criminals have to go to jail and stay in jail. if you take them off the streets of any city, just talking the violent ones, it will be a better place to live and we used to have 65 million tourists in new york. how many do we have now? neil: not 65 million. >> if you lived in the suburb why would you want to come to

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store, put a gun to a store manager's head i am sure he was thinking what happened in burger king, they killed him and what happened in the subways in brooklyn last week, just incredible, stuff like this is not supposed to happen in the big city. if you put away the criminals it will stop happening. neil: they seem galvanized by the notion that even if they are caught they will be released and back at it again. john catsimatidis, that is scary stuff and a reminder if it happens there it could happen anywhere. john catsimatidis. another prominent politician saying what president biden is doing isn't working. by the way that politician is not a republican but a democrat.

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neil: look at the dow. only two issues bucking the selling trend, the dow at the lowest level of the day. the earlier catalyst of what is going on in technology land, amazon after did this.turning in his report -- earnings report, the better part of 11 years. you are also seeing some issues trying to buck that trend. most of the big technology names are not following suit. another wrinkle is what is going on with the dollar. tesla and twitter joined at the hip because tesla's stock, the currency elon musk is using to purchase or put the down

payment for twitter but one thing i want to stress, the dollar is stronger, out of 20 year highs versus the japanese yen, 8 year highs versus the euro. for big multinationals the prominent technology names are that and then some. the strong dollar means fewer dollars back for whatever revenue you are scoring overseas and the fact that china is slip sliding away demanding a market for technology is slip sliding away in the face of covid spikes and shutdowns and restrictions. it has all combined but i think what might have added to this, the only difference when we were discussing this, the news out of san francisco where they are reimposing mask mandate on citywide, countywide system, we thought the stuff was going

away and extended mandates, the only thing i saw that propel the 50 point decline that we are looking at, to interpret this based on headline is always risky but i want to pass that along. we are learning the president is still set to talk to his counterpart in mexico, e centrally a zoom call coming up in 15 minutes. we've got this migration wave that could get a lot worse a month from now so we will keep you monitored on that and it occurs at a time where even the democratic mayor pro tem of eagle pass in texas has said this is a mess but we've got to do something about it. the mayor is a democrat. like so many others, better than 50 plus who said when it

comes to title 42 i wouldn't be so quick to jump. a lot more. >> reporter: they are stepping up efforts to stop the flow of illegal migration across the rio grande. look at our fox news drone, life pictures of national guardsmen to try to stop as much as they can. the reality is despite this, people are making their way. their clothes have been ripped off. it is an obstacle but hasn't stopped the flow. we did speak to venezuelan migrants who made their way across the rio grande, they traveled for two months, conditions in mexico are horrible, they are extorting all of them demanding they pay

bribes or threatened to take away their documents and send them back, border patrol facilities are overwhelmed and can't keep up with the processing, dropping off mexican nationals 3 times including families at the border, they open up a gate, walked back into mexico often just to make across the us on another day and yesterday we witnessed a dozen immigrants illegally cross the river mostly adult men picked up by the national guard and border patrol. four migrants from africa also crossed, give me one second. among those migrants was a mother and toddler and locals are saying 50 or more people, the mayor pro tem of eagle pass says enough is not being done.

>> i will tell you one thing. i respect president biden very much, he is our president and we respect our president but as far as being managed the way it should be i can tell you, he's welcome to come here and visit and i can tell you this is not effective management, don't care what anybody says. >> reporter: not just record human smuggling but drug smuggling, they arrested four people smuggling in 156 pounds of meth and 16,000 fentanyl pills. in eagle pass we know there is a funeral service for the national guardsmen who drowned behind me in that river, specialist bishop evans, 22 years old trying to save migrants. that funeral service is tomorrow in arlington. we saw another man swimming for his life, he was picked up in front of us by the national guard. despite the heavier heavier

presence on both sides people are making a swim forward and risking their lives to come across. neil: thank you for that. we will take a look at what is going on with technology stocks in this country right after this. your shipping manager left to “find themself.” leaving you lost. you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates matching your job description. visit indeed.com/hire (vo) for me, one of the best things about life is that we keep moving forward. matching your job description. we discover exciting new technologies. redefine who we are and how we want to lead our lives. basically, choose what we want our future to look like.

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neil: amazon taken it on the chin, the most it has ever fallen in 101/2 years. charlie brady corrected me and said it was 10 years and four months but bottom line we've not seen a day like this for amazon. in the eyes of amazon management is this greater union push going beyond staten island, new york where you will find jeff flock where all this started. >> reporter: they are voting today at this facility in staten island, 1500 workers across the street they already voted, a separate warehouse. they voted for a union there. this union thing is not just amazon but starbucks, verizon,

apple and a lot of people don't think that will be good when it comes to the cost of doing business in the price to you and me. >> these are companies and if they raise their prices even higher so consumers expect higher prices and increased wait times and more shortages in the goods and services coming from unionized companies. >> speaking of other companies breaking news, the starbucks has voted to organize and unionize. the vote was 11-numtwo -- 11 to 2. they have nonunion. a lot of people think that's not going to be good for your coffee. listen to why. >> the baristas cited that they are fed up with custom mobile orders with 19 separate instructions, two of vanilla, two ice cubes shaken not stirred etc.

. they are burned out on that and one of the things they are pushing for is limiting mobile orders and how much they can be customized. >> no to pumpkin spice latte, one ice cube shaken not served for neil cavuto maybe. neil: i always use a british accent when i phone it in. >> better services that way. neil: thank you. jeff flock. all of this happening at the same time we are seeing costs go up. gary was talking about what is happening beyond the union sector and it really is becoming a market albatross now, disproportionate one. explain. >> 7% of the nasdaq 100, 7% of the s&p, when the average stock accounts for only 0.2%,

definitely has a marked -- neil: it was never 0.2% but everything got out of whack when those high flyers did that. >> a big bull market, stocks over owned by big institutions but when things change there is only one thing left to do and watch apple closely. it is much bigger than amazon, held in like a trooper. if they ever get that the indices could be in trouble. right now the top five nasdaq 100 spots account for 41% and apple and amazon are about 13% of the s&p, 11%. the indices never change the structure of it because things were working at if indices are going higher the people that run the show are happy. neil: these stocks might be volatile, they have a great

future. do you concur with of that. they are seeing big gains evaporate. >> think long-term but make sure what you are owning long-term is working long-term. we have seen a litany of names through the decades, the greatest things ever. i always mention citigroup because it is trading at 50 but it is trading at 5, still down 90% from 2,008 not to mention the tech stocks that have gone by the wayside. somebody else comes in. you better watch what you are doing, make sure of this stuff and in the last year, the pelotons and paypals, i am stunned and i'm never surprised by anything in the market. neil: thank you very much, safe trip back home, more after this. nfident about my future. voya provides guidance for the right investments.

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♪ neil: we thought if we played up beat music it would help you ignore what has the dow down at session lows here something interesting gary kaltbaum was here and said it depends on your investment horizon so those are the certain age looking at long term, for me, lunch tomorrow, versus someone young jackie deangelis where it be at the very least 10 years down the road, very different perspectives here, so my age are freaking out, jackie is just

saying oh, my god i can get through this. >> i'm not saying that i'm actually freaking out too. this is a rough way to end the month, dow down over 500 points after a reasonably good day yesterday people were optimistic but i told you some of those issues were just put on the back burner for the moment. doesn't mean they went away so you take a look at these numbers today and it's not surprising but there are few reasons here and i want to break them down for you. of course that inflation metric that we got this morning, the p ce, personal consumption expenditure prices, up 6.6% year-over-year, and it's the highest since january of 1982. neil: you weren't even alive. >> this is a little different than the cpi number everyone talks about which is trending up 8.5% year-over-year. c cpi tells you how much prices are rising. pce tells you costs that consumers pay across a variety of items and also it accounts for how their behavior changes in response to some of these market dynamics. the fed watches this one closely , they are watching it as

they make some decisions ahead of that highly-anticipated meeting next week regarding rates. meantime, this is the last trading day of the month, as i mentioned so take a look here. all three indices trading lower on the month with the nasdaq taking the worst hit, you got the tech stocks there. it was a vol tell month of trade given the back drop we've seen we've got russia's war with ukraine, higher inflation and the expected rate hike, lockdown s in china all the things in the back drop. meanwhile, meta held up the market yesterday its amazon earnings after the bell yesterday dragging markets down today on pace for their worst day since 2014. that's amazon stock, two big things here. lighter than expected revenue guidance for the current quarter and $7.6 billion in losses on that investment in rivian, the maker of electric cars, overall online shopping tapering , pandemic winding down here too. apple reporting yesterday also, revenue did grow nearly 9% year-over-year that was good but the company warning, challenges this quarter, partially because

of the supply chain issues remember those components come from china, all these things could cost them $8 billion in sales next quarter, neil. neil: again and again, china china, foreign markets, and compounding at the strong dollar which when you translate back in the u.s. currency, from those earnings abroad, you got fewer dollars. >> exactly. neil: not a pretty picture but i'm glad you're feeling old. >> yeah, no i do and i worry just as much as you do. neil: good i've got prune juice outside i'll share. that's good. she's so young and so wise. we've got speaking of wise jacqui heinrich at the white house where they're not necessarily for the time being worrying about all this recession talks, slow down talk, all the stuff that we just heard jackie deangelis get into. so, jackie, how are they playing this latest data that doesn't look good? reporter: they're basically, neil, saying not a problem, we're not concerned, we've heard this from them before, they don't want to stock anyone's fears but they are downplaying

these numbers and much to the surprise of some economists the fed's favorite inflation gauge as jackie mentioned, personal consumption expenditure prices hitting a fresh 40 year high in march, up 6.6% compared to last year, stripping out food and energy costs, which are volatile, pce inflation rose 5.2 % in march compared to a year ago slightly below february's reading of 5.3% and some people are saying that it indicates inflation could be easing slightly potentially, but this separate report that was out yesterday showing that gdp declined at 1.4% pace in the first quarter surprised economists predicting 1% growth, and economists are concerned that president biden appeared to downplay that yesterday, especially given that the second quarter of negative growth would constitute a recession. >> i'm not concerned about a recession. no one is predicting a recession now. they are predicting, some are predicting there maybe a

recession in 2023. i'm concerned about it. reporter: one key concern for economists this war in ukraine is getting drawn out, the u.s. is getting more deeply involved, sending weapons and aid, russia has cutoff gas to europe, its caused some geo political risks that could contribute to a recession according to austin goolsby, and there are domestic issues at hand, too, he says. >> i think we got information that the gdp actually shrank in the first quarter and that should make people nervous and now we're in a circumstance where the stimulus is rolling off and so we better keep an eye on the ball. reporter: the white house blamed the slowdown in yesterday's gdp report on a reduction in inventory growth, not inventory levels, and said because the economies reopening, there have been more imports than exports. we've not heard reaction yet from the president to today's inflation numbers, but as the president is seriously considering now canceling student debt, you've got critics saying that that would have the

same inflationary impact as the stimulus did, warning against this and saying this could really turn the economy even further into the wrong direction, but he appears to be getting ready to announce that he's going to be canceling at least some student debt pretty soon here, neil. neil: you know, jackie, you follow this far more closely than i but one thing i've noticed is the number of democrats who are saying we don't like the course we're on, whether it's title 42 and the 50 -plus democrats probably over 60 by now who don't want it , you know, dropped next month , then what we hear from the el paso texas mayor who also is critical of the administration handling of border things and when it comes to inflation. this push he has to solve the problem by spending more money might appeal to some progressives but it doesn't appeal to moderate democrats, particularly joe manchin of west virginia whose dead set against it. is this a revolt going on?

reporter: well, i think what we're seeing is you're getting closer to the mid-terms, so democrats who are vulnerable are speaking out against some of the policies of this administration, title 42 like you mentioned, that's especially a hot button issue for border state democrats but when you talk about inflation, and joe manchin, i mean, the reason that this white house has not been able to pass a lot of its spending initiatives when you're talking about build back better and the remains of it, what's going to happen there, you know, they look at the economy, joe manchin cites inflation as a reason that he's not going to sign on to any more spending because he thinks it's going to make this problem worse , and i think that's where you're getting into an interesting space where it's a political good point to want to cancel student debt, but is it going to have the inflationary impact? what position does that put moderate democrats in because they would love to be able to cancel student debt for people but are they worried about the economy? so i think we'll see them have to sort of square that circle. neil: they are in a tough time

doing that jacqui heinrich thank you very much and speaking of the whole student debt issue and where things stance, aishah hasnie on capitol hill with the appetite for that on the hill. what are you hearing? reporter: oh, the appetite is huge and jackie hit the ball out of the park when she said as the mid-terms get closer democrats are looking for a win. look, the president, the white house has asked congress to come up with some kind of legislation on student and loan debt, bring it to the president's desk, he'll gladly sign it . that didn't happen, surprise surprise so now, it looks like the president is inching closer to doing it himself, although it's still not clear if the president even has the legal authority to cancel student debt , but if he goes forward with it, neil, the number may not be as high as what progressives had hoped for. he told reporters he's not considering the 50,000 per- person cancellation but even canceling 10,000, neil, means writing off 321 billion in loans , and the committee for

responsible federal budget claims canceling student debt would only worsen the inflation situation that this country is in. now democrats aren't really talking a lot about that. in fact, they can't hold back their glee over how this could help them in the mid-terms. >> would that help him, do you think, going into the mid-terms? >> sure it will. there are a lot of people whose lives are tied up in this debt, and if we can liberate that and give them a chance for the future. reporter: sure, it will, says senator durbin and this is really setting off republicans, senator mitt romney tweeted think. desperate polls call for desperate measures, dems consider forgiving trillions in student loans, other bribe suggestions forgive auto loans, forgive credit card debt, forgive mortgages? well senator kennedy asked this. >> why not cancel patients that can't pay their medical bills? you know, here's my student loan plan. you took out the loan.

pay it back. reporter: and neil, you know this , as fact that when you cancel student debt, something like it, it doesn't just disappear. somebody has to pay for it. neil: oh, that whole paying back stuff is there, aishah, thank you very much, i can say that to a young person, well who knows, larry kudlow, kind of a young person, anyway he's here right now the host of kudlow, the former &%pt economic advisor to president trump. larry, what i find wild about the college loan thing, it's just going to be added to the debt. don't worry about paying for it, add it to the debt, as if adding it to the debt, you know, absolves americans from paying for it. larry: well the thats an excellent point, one that members of both political parties should keep in mind, by the way it's not going to help president biden's polls. he's losing young people left and right for lots of reasons, inflation, the border, education , i mean, it's just,

when you do polling it just doesn't show up high on the list i thought mitt romney's tweet and i thought what senator kennedy said was exactly right. you know, you're going to start forgiving loans, you've got to go across-the-board. there's a lot of loans out there by the u.s. government and one thing i want to raise, when you talk about student loan reform, this is a subject that we looked at in the trump adminitration. we should go back to private lending. remember it was the obama administration that took private lending, you know, from banks and whatever, savings and loans, they took that away, and they gave it 100% to the u.s. government. so that was not a good idea. a bank would work with the student to figure out, if possible, some form of payment, right? banks do these workout things all the time, but the federal government it's like all-or-nothing. the other point is as you well know, 70% of the people in

this country don't have student loans, okay? many of them didn't go to college, high school degrees, they are out there working construction, hard hats, blue collar workers, and finally, so much of this is for graduate students, and it really is super , in my opinion, counter productive to just give away, forgive the loan for graduate students, and many of these graduate students, i mean some of them will be electrical engineers and actually get a job many of them, history, english, literature, poetry, art, i have nothing against those discipline s, they are all near to my heart. my saintly wife is an artist and a painter but they aren't going to get jobs. neil: did she pay her loans back larry: she never had loans. i went to the woodrow wilson school at princeton. they gave us free tuition and board but i had expenses. i took out a loan. this was 50 years ago, and i

paid it back. i paid it back, and so i really just don't have much sympathy with this. neil: well you also had outstanding promise that they recognized, and whatever happened to you? larry: it was a long shot. [laughter] neil: you know what's weird though, you raise a good thing because what you do for some others quite naturally and rightly, expect to be done for them. what i do get worried about, larry, and you talked about a great deal is that if you're digging a hole, it's best to eventually put the shovel down and don't compound it, so whether you're for this spending and relief or those , you know, overwhelmed with student debt and all that, spending in general has made a bad problem a whole lot worse, and yet that's the tonic and the solution that the administration comes up with and i just wonder when it's even getting pushback from the joe manchins and others, and those who are not nearly as

moderate as he, within the democratic party, it's telling you that this is a progressive push here. larry: well this is part of the modern monetary theory. you can spend as much as you want, you can borrow as much as you want, and you can print as much money as you want, all in the name of creating faster economic growth and faster economic demand. trouble is modern monetary theory has been blown up because of the inflation rate, and it turns out you can't just spend and borrow and print money. neil: look at argentina. larry: well that's right. by the way argentina is suffer ing, i was down there many years ago probably subject of another segment. i do want to say this though to my republican friends. they are looking now in conference at this so-called china compete bill and i am so totally opposed to this , neil. first of all, it's just a big corporate welfare picking winner s and losers, industrial policy. neil: that's whose pushing them,

these corporations. larry: this big spending bill i call it the intel bailout bill the bid from the senate was 250 billion. the offer from the house was 350 billion. there's 15, 16, 17 republicans that's voted for this in the senate. this is exactly what we do not need. not only for policy reasons, it's not going to help the chip sector, we don't need that kind of money, there's $200 billion of investment already in plants and equipment cooking, that's what our guests, that's what the chip association says but it's more spending. it's just more spending. neil: now what if we want government involved in helping industry period? best to maybe get relief or that sort of thing but when you're propping them up china is proving there's a limit to that. that's unfolding as we speak. larry: this is like the out- china china bill. neil: that's very good. let me write that down i'll say

that's my idea. larry: it is you can have it, out-china china, state planning, state control, this , how is this money going to be distributed? intel -- all these big guys are building plants like, you know, taiwan semiconductor which is the greatest kind of commodity chipmaker in the world. they are building in texas, they are building in arizona, intel is building in germany. i don't want to give them money to build in germany. qualcomm, in other words, projects are in place with private investment money already they don't need federal money and we just have to have an attitude, neil, of stopping this government spending. where do you draw the line? neil: but both administrations of all sorts -- we can't, a boom would help, it helped bill clinton, he had the whole internet boom and the president at the time who was against his own instincts, was working with ways to

remember we're all bond market heros now all that sort of stuff , but there's very little appetite to rain this in, because most people don't even hear it ticking. larry: i know. it's just not good, okay? and i want to include my bipartisan criticism to this , because the people, this republican senators who have voted for this don't seem to want to come on my show. neil: really? larry: i don't know exactly, i mean, cynthia lumus from wyoming came on the other night and she was fabulous, no, no, but there's a few, we're having trouble getting them on because i'm going to take them, if the gop, look the cavalry is coming, there's a red wave out there, there's no question about that from the biden administration, but the gop has to stand for something. neil: to your point, holding

them accountable, but i always thought republicans are talking about the debt and lecturing someone, so you're hardly in a position, and yet for those , yes, we did screw up and we over did it and that's why we know the foreign spenders ourselves we don't want to repeat that. you'd have a lot more credible arguments and talking about the debt but you know what's interesting? larry: i've been sober 27 years. it's about time these guys -- neil: you know, on the top 10, you said it and i'm glad. larry i'm just saying. i'll send them all to hazelton and get off the spending addictions they have. neil: the top 10 list they read the polls, right, larry? so no american or substantial looking at the data saying, it's a problem. larry: well i don't know. neil: do you think that'll change? larry: no i'm seeing some stuff from tips, for example, i think it's out there.

they don't want to spend, they don't want to tax and they don't want to inflate. look i'm looking at today's numbers. the last three months, the basic fed target pce deflator is up 7.8% call it 8% so take a look at the wages, the wage and cost numbers came out in the 12 month change private wages are up five , so we can all do the math. we have 8% inflation and 5% wages, we're all losing money. look at this other number that's so important. real disposable income, so that's income after inflation after-taxes. it is falling month after month after month after month, okay? last three months it's down 2%. last 12 months, neil, it's down 20%, 19.9%. that's why people are so angry about inflation. the cost of living and taxes takes their wage increases away. they're working hard,

productivity is -- neil: those are multi-decade highs and wage gains by even bigger multi-decade highs. let me get your thought real quickly on where this goes, because some people were seizing on the pce component that it's rising but slowing the rise from the month before year-over-year of 5.2 now versus 5.3. i think that's grasping at straw s. larry: that's assist reach, i agree with you. i don't know where the peak of inflation is whether it's eight or 10. i'm not smart enough to know but here's what i do believe. it will be very sticky coming down. very sticky, because we've front loaded so much stimulus both federal reserve balance sheet and money supply and the fed really has barely started their actions to take the punch bowl away. that's why i wrote in for fox business, we may well be on the front end of a recession because of the inflation problem

8% inflation, i'm not sure its peaked, i know it's not going to come down rapidly. the fed's target is two. neil: you have your doubts. larry: soft landing, it's like you know, second and third marriages, it's the triumph of hope over experience i've gotta tell you. neil: there we go, there we go. he's the best you always stick to this money thing and the economics and you seem to have a thing for it. larry kudlow, on in about two and a half hours, we'll have more after this. (fisher investments) it's easy to think that all money managers are pretty much the same, but at fisher investments we're clearly different. (other money manager) different how? you sell high commission investment products, right? (fisher investments) nope. fisher avoids them. (other money manager) well, you must earn commissions on trades. (fisher investments) never at fisher investments. (other money manager) ok, then you probably sneak in some hidden and layered fees. (fisher investments) no. we structure our fees so we do better

when clients do better. that might be why most of our clients come from other money managers. at fisher investments, we're clearly different.

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neil: you know, the attacks and air strikes continue and then you have this radar online report, it was sort of like a tongue and cheek report on the condition of one vladimir putin, it talks about how he looks swollen, his face is swollen and he sweats a lot and stumbles so what they're telling you or trying to convey is that he's not all there. now some say it's the pressure of the war but a lot of people, they have known him for a long time, know this was building before the war, he might be very sick no one knows but we do know this. no one has tried to overthrow him or at least succeeded in that regard to general jack keane on all of this. general, i know i'm going a different route here but i thought i'd pick your brain on this , because it is very hard to topple a dictator, you could look at him as being the russian president but he's obviously a

lot more than that. do you think these reports of oligarchs and business tycoons, some of whom are speaking out against him, albeit outside of russia, are beginning to take hold. >> well, certainly, those reports are there, but and i don't make light of it but at the same time, i just recognize that putin has been in power for 22 years, he's consolidated that power to be sure, in terms of the loyalty of those that he has around him which are considerably smaller in number than what they were in the past, and his number one objective, neil, is to stay in power, and he's working at that every single day because he knows the alternative, once he comes out of power, because of how he led and all often eanys that he has, not only is his wealth at risk but his life is at risk and he knows that.

he's completely focused. neil: you have to have a conclusion of this war then right, for him? >> oh, yeah absolutely. he certainly wants that and he's determined to try to achieve that, you know despite all the impediments and obstacles that the ukrainians are putting in front of them to include nato , europe, and the world at large, but yes, i hear what they're saying but i don't think mr. putin is going anywhere and we've got to face reality. as long as putin is in power neil, he is about returning russia to the russian empire and he is ambitious about taking countries that he believes should be there, and we have to take that serious and don't think of him as being short- lived, as long as he's there, he's about that mission, and staying in power. neil: so how did those who in the past have taken down or tried to take down those in power, in the case of hitler was later successfully overthrown, in libya they turned muammar

gaddafi but i'm just wondering what the gets you to that point and what is the trigger if this economic hit and the sanctions hit continues back in russia, or what? what would change that? >> i think the most significant thing that we've seen in the past that puts pressure on leaders is the people themselves and that's why he's focused so much on driving the international media out of russia, so they can't report on the war, and focusing on state television and their own control of information and best on what we're getting out of russia is that close to 80% of the people see him favorably, and they are accepting the false narrative that he's gone into ukraine and conduct a special military operation, not a war, to deal with ukrainian genocide being committed against russian- speaking people in the independent republic inside of ukraine. neil: and they're buying that, general? they are buying all of that?

>> they are buying that to this day. now, some of that is going to begin to erode as the casualties come home, as thousands of soldiers are really missing in action because they left their bodies on the battlefield. the younger people are much more intune to how to get around restrictions on social media that russia has imposed so they are tuned into what's happening. they have friends in other countries that are helping them so eventually, the real story will start to permeate this closed society that the so-called iron curtain he's put down on his country, but that will take sometime. that's months away, and we've got obviously intense war in front of us that we're dealing with for the next several weeks and possibly months itself. neil: general, thank you for indulging my curiosity just about the back drop for this and vladimir putin and what's happening there, and you were very kind to do so. general jack keane, retired u.s.

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neil: all right, now, it might look like now especially given the fact that elon musk has sold about $8.5 billion in tesla stock over the last few days or so that he's serious about this whole twitter thing, charlie gasparino certainly thinks so, but as if. anyway, tesla, and twitter, both up today even though all of the other technology stocks -- charlie: i could taste those all you can eat, what are they?

breadsticks, on your dime. neil: we have a bet going because i think, i think that musk is going to do a 180 on this , nothing to base that on outside of i expect the world out of musk but i think, think of the damage it could do to tesla. it's not doing it today. the china exposure, china doesn't flip over twitter. you don't want to listen to me? charlie: wait a second china needs investment right now. its economy is slowing dramatically, it's shutting down neil: it does not like twitter. charlie: i know but it still needs u.s. investment so they need tesla. neil: i get two appetizers? charlie: yeah i'm going to order a big daquiri. neil: but you still see this going, i know exactly what you're talking about, so you see this still happening? charlie: listen, i look at odds. twitter stock is up today, because it looks like it's going to happen. tesla stock is up today -- neil: nowhere near the offering price. charlie: i know but it's starting to get up there.

tesla stock is up today because there is a way for him to do this without selling all tesla stock. neil: came up a little bit today but by the way it's still down $150 billion for him. charlie: think about it it came up today and he announced he sold $8 billion. neil: well because the signal was that's about all i'm going to do. charlie: that's it because that's what i said yesterday on your show. do you remember what i said yes? neil: no. charlie: there is a way, i know you don't, you forget everything i say, there's a way to do this without selling the 21 billion, like he could put some in escrow, he could raise some equity, there's a lot -- neil: if he leverages against that and uses collateral. charlie: tesla stock keeps going up. neil: no it doesn't. charlie: how do you know? neil: what's happening today is indicative? charlie: i think we got until october, i think it's going to happen, that's my bet so far. listen, if you said put your finger on the cutting block, would you? i don't know, i wouldn't go that far. neil: i would put your finger on the cutting block. charlie: or something else.

there's that old saying, you know? neil: it's a family show, yes indeed. charlie: i wouldn't go that far but i would say the odds are dramatically higher now. neil: what could disrupt, all seriousness. charlie: just like him having some sort of a nightmare, like waking up on the wrong side of the bed. neil: would you say it's not worth the hassle? charlie: i've got rockets to build, you know, or something like that, electric batteries to perfect. that could be it, but you never know with him. i just think that he takes his free speech thing, and you know, some of his friends are pushing him to do this and you could just tell. he's friendly with joe rogan, for example, the comedian and podcast -- neil: very successful. charlie: i listen to him everyday, so joe rogan, i could just tell from, he hasn't said this specifically, but i could just tell he's egging him on

because he loves this because joe rogan is a libertarian particularly on speech. neil: that's what musk is really at his core. charlie: conservative and so i think the stars are aligning right for this to happen, neil, and you know, i'm just kicking myself in the rear end that i didn't say sustina, instead of olive garden because there is a bill there. neil: they have a hot fudge sund ae. charlie: do they really? neil: if you're really betting against charlie gasparino you're probably making a big mistake but i'm going that way. i'm going that way. all right meanwhile, bitcoin, is all the rage right now and has awful time, it's not benefiting from the market craziness well under 40,000 a lot of people thought with the craziness it be backup to 60,000, that didn't last. nevertheless, it is getting more mainstream and plans to include

it, as a bitcoin in 401 (k) plans and the like, the department of labor, of course the government is saying it's not a good idea. i look at that saying anyone from the government lecturing me on what i can and can't invest and do with my money that's a little weird but they that as it may, natalie barnell is here, the podcast host. natalie the government is getting very concerned about this , but isn't that fidelity's right, investors right, if they want it, there it is. if you don't want it you don't have to have it. >> that's absolutely right, hi, neil, thank you so much for having me and the u.s. labor department they should be more concerned with all the debt un the system that's been crushing the middle class. i think this is really huge news , fidelity is the largest 401 (k) provider in the country i believe they have $2.5 trillion in 401 (k) assets so if customers are allowed to allocate up to 20% directly into bitcoin -- neil: is that what it is up to 20 because some have like a 5% rule, but hasten the argument from the government, you know,

20% that's a lot. you say what? >> well so it's going to be up to employers but that's going to be the maximum cap because it's still viewed as a very risky asset but i want to share i'm a first generation immigrant, my family came here from eastern europe for the american dream and the american dream has this ideal that if you work hard you can come from any background , any social class, and you can achieve success and financial security and with that comes retirement to be able to enjoy the fruits of your labor and watch your family grow up, but we now live in a country where half of americans are not prepared financially for retirement. nearly half have had to actually dip into their retirement savings and about a third don't even have retirement plans or accounts at all, so pensions are struggling with negative real yield, and assisted living facilities and nursing homes are more costly than ever so you have to stop and think how are younger generations going to be able to afford to retire so many of them see bitcoin as a life raft, because although it's volatile in the short-term, retirement is the long term strategy.

it's the long game. neil: but natalie, do you think the easy money has been made in bitcoin and the cryptocurrency arena. i know it's vastly expanded their eft's that are waiting at the runway tied to this , many more, but that it's going to be harder to build off of that. >> you know, i think that bitcoin is the most financially inclusive technology that has ever been invented, and of course with any technology network the earliest adopters benefit the most, but we're still early. this is a 13-year-old technology network that is bringing financial inclusion to everyone. it's not only a powerful savings technology that's rivalling the appreciation in things like bonds and stocks, but it's also a revolutionary payment rail that i think is going to allow access to people, to transact from one place in the world to another, without a middleman taking a cut so i think this is very very powerful and i'm not surprised people want to allocate to their 401 (k). neil: and people are free to do with their money what they want to do, with some i guess you're

quite right that's their call, shouldn't be the governments call, natalie thank you very much, all right, we have a lot going on here right now, run-up in inflation numbers and concerns about what's going on with oil, still drifting upwards again today, that's affecting price for gasoline as well, though not as much as we were seeing earlier on, but many on capitol hill are targeting not supply and demand but the greedy oil companies, they say, who are making a bad situation even worse. the latest on that, after this. a comprehensive wealth plan for your full financial picture. with the right balance of risk and reward. so you can enjoy more of...this. this is the planning effect. at adp, we use data-driven insights to design hr solutions to help you engage and retain top performers today, so you can have more success tomorrow.

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neil: all right, house democrats still going after the oil companies with prices including a rise particularly at the pump even though that had stabilized somewhat it's beyond supply and demand and all about collusion among the big energy giants, chad pergram following it all on capitol hill, chad? reporter: gop members say

president biden and his policies are why gas is so high, democrat s found themselves defending their decision to release oil from the strategic petroleum reserve to mitigate fuel prices. >> why the strategic petroleum reserve was setup to meet a million barrels a day so we can stabilize. it doesn't bring down prices. >> that piece is so incredibly important because if we get it wrong we completely seize up the economy and my fears are going to get it wrong. reporter: one part of the democratic strategy is to blame oil companies for the price surge, democrats have a bill to make it easier for the federal government and states to target oil firms for price gouging. >> oil companies last year made record profits on these tragedies, almost like vulcan curriculums, we have the ukraine tragedy, we have the covid tragedy and did they try to make things better? no they come in and make record profits. reporter: privately democrats are concerned high gas prices

will hurt them in the mid-terms, but they won't say that in public. >> look at the public, is blaming democrats or will continue to blame democrats? >> i don't think so, they are blaming the oil companies. >> but they won't take that out on your side in the mid-terms if you pass this bill. >> i don't think what you say is making very much sense, frankly, i mean, in all fairness , we're friends, candor is part of our friendship reporter: the democrats bill to go after oil companies could face a filibuster in the senate, democrats are daring the gop to block the bill inside with big oil. neil? neil: i don't think you're making a lot of sense, chad, myself. reporter: [laughter] neil: you stayed so calm during that. the italian in me i'd say hey, hey, what the are you saying? amazing, buddy. reporter: i asked her, i followed up to her and i wanted to say, you know, well this isn't making sense to me, respectfully, if we are friends, but she didn't take the bait there.

neil: you do a great job. thank you, my friend, chad pergram making friends left and right on capitol hill. there is now a drug that lilly says can help you lose up to 22% of your weight. now you've heard this out of drug companies before but this one apparently could be the real deal. so i thought who do we get to talk about this who knows what the real deal is on everything from covid to all the fiery stuff back and fourth in healthcare these days? dr. bob lahida is here, he's next after this. 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

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neil: all right, tell me you've heard this before, it's hard to lose weight, a hear it for some people who aren't as thin and fit as i am that well it's a problem but anyway, eli lilly says it has now a new drug, developmental stage but one stage after it looks promising where you can lose up to 22% of your body weight. 22%, it's taken via syringe, it's a shot, i don't know how frequently you use it but based on a test study that appeared about 72 weeks dr. bob lahida is here, he's been so helpful to us and separating the craziness through the warnings through

covid and doctor, you can help us out with this. i know i've heard this , doctor, before and it's not just because i'm old, but i'm old and i've heard this before. is this , what do you hear about this and is there anything to it >> well, neil, we're both pretty old, and that doesn't prevent us from trying to lose weight, particularly if you're a diabetic this drug maybe very helpful it's called terzepitide, and it has resulted and you can inject it once a week but there's also a pill form, 15- milligram form, which you can take everyday if you're conscientious and it allows you to lose upwards of a median of 25 pounds and in some cases you said 22% of your body weight will go, but what's really good for diabetics is it lowers your heme a globe un a 1c which is that amazing test that measures how your blood sugars have been over a period of time, so this drug really makes you,

imitates the gut hormones and prevents you from being hungry so this drug is probably a game changer for diabetics but you and i know that a lot of people are going to be trying to get this from their doctors to lose weight. neil: now is there a range or do you have to have a minimum b mi, body mass index, to get it, right? >> i would think you would. i would think it would have to be a body mass index at least over 30, but if you're a severe diabetic type two which as you know there are tens of millions of us in the country, this is going to be very useful to help you lose weight, the more weight you lose the more your blood sugar is controlled. neil: do you know whether they are saying separately still have to watch your diet and exercise but if this curbs your hunger, a lot of people said well i'm not going to do that. >> yeah, that's the downside of it. there are drugs on the market now, not so dramatic at this one , that are used to curb your hunger, you lose weight,

your hemoglobin a 1c goes down and with this drug it's about 2.6% drop which can be fairly significant and it's probably more, that's the mean, but diabetics it's a good thing. neil: so how fast do you lose the weight? could this be dangerous? could it overdo it? >> i'm not aware of the adverse effects but certainly any drug that you misuse can be dangerous now you have to use it according to the package insert. you have to use utility according to your doctor's instructions, so anything you can use can be overdosed and we don't want people to do that. you know how many people out there want to lose weight. neil: it is important questions because i wasn't asking on behalf of myself, dr. bob lahita , we'll have more after this. customizing your car insurance, so you only pay for what you need. if anyone objects to this marriage... (emu squawks) kevin, no! not today. only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪ before nexium 24hr,

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neil: all right, closing out a pretty bad months for stocks but may flowers after the showers i don't know, charles payne knows, charles? charles: i'm going to certainly work on it neil, thanks a lot my friend. good afternoon, everyone, i'm charles payne this is "making money" and breaking right now it's another friday free fall. remember last friday? the same desperation is in the air in all the news is bad news. that has investors many of them racing for the exits, meanwhile, the a's get an f, but is selling of amazon and apple over done? i'll ask laura martin in a few minutes and the word that will live in infamy how transitory continues to cast a shadow over