came out in 2019, and it's the not-watched of all-time. okay? lauren: fair enough. stuart: thanks ashley, great week. lauren i'm not leaving you out great week and susan not on camera but thanks, everybody. its been a great week. middle of summer, not that much news, but we put on great shows and entertaining shows anyway. this is how i just put out the last few seconds of the show neil it's yours. neil: all right, have a great weekend stuart thank you very very much at the corner of wall and broad we got a sell-off going on and probably rival if this continues for the next four hours of and up week at least the fifth up week for the s&p 500 and the dow nasdaq looks like that's a leap to turn around a negative week into a positive one, but we're keeping an eye on it. we're also going to have ken fisher here billionaire investor his thoughts on what's going on. he's been saying of course and last time he was here that a lot of this hanging on the economy and the markets might have been overdone. that was some weeks ago. a lot has proven since so we'll

be talking to limb a little bit about that and meantime want to flesh out what's happening on the markets today and what they are telling you with mark tepper strategic wealth markets ceo erin gibbs, main street asset management ceo. good to have both of you. erin, your views on what the markets are telling us. it's always a push and pull over interest rates or recession. you don't want to go too far on the interest rate stuff for fears that rates go up but you don't necessarily want to bring on a recession, or data that could say that we've gone to hell in a hand basket so the markets always juggle that. how's that going? >> yeah, and it comes down also to, you know, risk on, risk off, feeling confident, feeling conservative and today is obviously a conservative day. we're seeing riskier stocks, the small caps, the growth really pullback and so obviously, the winner today is we're worried that the fed is going to really raise interest rates at a

very fast pace and all those expectations that they're going to cut rates for next year are starting to waiver, and you even see that in the 10 year, so i think as we're getting closer to jackson hole, people are worried about comments, there were some comments from the st. louis federal reserve that's just raising those fears on that side, but look, we're still two months into this bull run, so it's certainly normal to have a day where we pullback a little and get risk off and it's what i think it's really going to come down to what they do in september, and we're going to be reading into the tea leaves for the next few weeks. neil: um, i'd be curious, mark, you know whatever happens on the week, and where we have the first down week after four back to back to back running weeks, we're up from our lows. the nasdaq has cut its losses from the lows in half, close to that for the s&p 500, the dow as

well, so is this just sort of like getting set here for the next wave or how would you look at it? >> well, i mean, you bring up a good point. as painful as this years been in stocks, the s&p is down like maybe like 11%, that's actually not atrocious but neil, erin, you know, from my stand point, i think there's really four forces at work right here. first and foremost, you already hit on the fed, right? the fed is getting more hawkish, and the markets really still pricing in a soft landing and a pivot next year which i don't think is going to happen. the second thing is the whole short squeeze, you know, the hedge funds buying up shares to close out their shorts, that pretty much dried up over the last week so if you look at data from jpmorgan and goldman sachs, you don't have that continuing to drive stocks higher anymore. technically, we failed to get through the 200-day moving average at 43.20 so that's not good so the computers start to

kick in and then from an earnings standpoint, backwards-looking earnings season was overall pretty positive but forward guidance, not so good. i mean, i think it's pretty obvious the consumer is weakening. i mean you look at all the retailers with the exception of like a walmart or a bj's, or bulk grocery store or a grocery store that caters to a lower income consumer, the rest of the retailers have not given us good guidance. in fact its been pretty awful so i think the market is juggling all that stuff right now. neil: you know, erin, we talk about jackson hole, the federal reserve and what we'll hear out of jay powell juan they give us an idea of where we're going. there's this big debate in the wall street journal got into it around charlie gasparino has gotten into it whether it's a head fake on the part or they are just playing games with us here, that their heart really isn't in. i'm oversimplifying this into willy-nilly aggressively tightening. despite some members who are for big rate increases to deal with this. where are you on this?

>> yeah, i do feel like we're going through a little bit of a head fake. they're obviously working the press as much as possible, a lapse of comments were inundated with commentary every week, and seeing how people are reacting, so i think it does feel like that, that either they should just get it done with versus kind of going back and forth and letting us think that it might be a little lessor a little more it does feel a bit rollercoaster -ish. neil: you know, mark, there is this can we get inflation under control without dragging ourselves into a recession. what do you think? >> well, i mean, they're changing the definition on recession, right? so now it's all about unemployment speaking, as opposed to an economic contraction. look, you know, the way i feel is the fed has a dual mandate, number one is price stability, which is control inflation. number two is full employment,

and i think they're actually and a lot of people would say well we're at full employment but i could also make the argument that the jobs market is overheated. it's too hot, i mean, even go back to the jobs report from a few weeks ago, and the household survey in particular, people working two jobs is at an all-time high, and people are doing that right now, you know, because of inflationary pressure s that are really erod ing their wallets. from my perspective, i think the fed is going to hike faster and further than a lot of people believe. i really think there's no chance at all of a pivot next year. we have to get inflation under control. i do think the only solution is we are going to continue to see economic contraction. i do think the third and fourth quarter of this year could be slightly positive, and then we get into first and second quarters and next year which are likely going to be kind of ugly, so i don't think we can avoid the recession. i don't think a soft landing is

a possibility. neil: all right well that adequately bummed me out, mark, thank you for that, but always good having you. >> [laughter] neil: always good having you, thank you very very much we got the dow down about 285 points so we are on a way to seeing first down week for the markets after four successive weekly run-ups so we'll see how it finishes up. meanwhile to chief national correspondent connell mcshane following all these other headlines developing today on this week where we end not exactly where we started. connell: no, now that soft landing is off the table i'm not sure i could help out much either, need. we do have news from the electric vehicle world today when consumers are thinking about buying an ev, you often hear them talk about price point , how much is it going to cost, and rivian automotive is adding to that concern about price. it's actually getting rid of its less expensive electric pick-up truck effectively raising the entry price for owning one of its vehicles by about $5,500 or so. it had what it called an explore package, and that was going for just over $67,000,

but now, that's the one they're discontinuing. that is out, and consumers were sent an e-mail that where they were told that they either had to just cancel their pre-order or upgrade to the adventure package, which is around 73,000, so was looking at the company's statement they talked about things like streamlining their operations which you often hear but keep in mind this is not the first time that rivian has raised prices. in fact back in march, it put what was roughly a 20% price hike in place both on pick-ups and suv's but it was interesting it had reverse course quickly because there was so much customer backlash, so we'll see what happens this time around. we also have some crypto news for you today. bitcoin dropping below the 22000 mark, which is a pretty big decline when you consider it was above 25,000 just over the weekend, and you know, the talk kind of in the market about bitcoin is that it is following stocks lower, with all the uncertainty we're getting into over how aggressive the fed might be and raising interest

rates, and that kind of thing but the funny thing about that is there used to be this theory that crypto assets would kind of trade independently, not follow stocks, but if you look at the numbers the opposite is proved to be true in almost all of the cases with bitcoin and its peers, really correlated quite closely to what you would call risk assets stocks and other risk assets and finally, don't want to let you go, neil, without throwing a little sports business news in for you on a friday. we're less than a week away from this new era in streaming. amazon has its first thursday night football broadcast next thursday, as luck would have it, and it's kind of a big deal, because this is the first time that a streaming service will be the only place you could find a national package of nfl games and amazon of course paid big bucks for this about $1 billion a year. it is said to have some new features planned for the pre- season game. the first ones the 49ers and texans. for example, you could look out for something they are going to call x-ray stats. this is

screen during the game, following just about anything you would want to follow, because the players are going to be wearing chips. amazon chips in their uniforms which allow for instant updates on all of their movements, i'm told a similar program is under consideration for well known financial news anchors. neil: [laughter] what was i reading on all that now more people are streaming than watching traditional television? connell: i think it was yesterday, right, or the day, this week definitely where officially streaming passed traditional television when you add up everything, the netflix and amazon of the world, so we're in this new era. neil: my kids were way ahead of this , not watching or stream ing me, i might point out can't blame them, connell thank you very very much, connell mc shane following all of that. well, whether it's streaming or something else certainly there are risks inherent in technology and apple is sending out a warning that has a lot of people worried about how their security

could get compromised. they are trying to fix that on some sort of giving you a thumb nail view but susan li has been following it, susan what's going on? >> yeah, especially when there's bad state-sponsored hack ers in play and they are usually targeting politicians, journalists, business leaders who tend to have some sensitive information on their phones. apple is telling all iphone, all ipad and mac users to update their software immediately, and that's the patch some of these vulnerabilities and they directed me to their security updates they announced just in the past 24 hours, and they're warning about maliciously craft ed web content that may lead to arbitrary code execution which could potentially take over the entire device, so two ways in for the hackers through the operating systems core called the colonel and through web kit so anybody, anybody with an iphone going all the way back to the iphone 6, update your software immediately. so i'll just demonstrate for you how to do that. so you go to your settings, and then you hit general, click software update, then hit in

stall. same process for ipads and macs as well. state-sponsored bad actors have been using vicious security hacking programs like the infamous peg a says system made by the group in israel and that's infamous of course if you think you've heard about that name, that was part of the accused jeff bezos phone hack. now, apple has been spending roughly around $10 million to protect against peg a says and they even sued the nso group now the eu found evidence that staff phones have been hacked by pegasys according to one report and don't forget you have a billion more than a billion iphones in use out there, neil so this is a big deal, when it involves billions of devices that could have some vulnerability so update that immediately. neil: i assume that extends to the iphone 14 or whatever they are calling it when it debuts or presumably announced on the 7th that it will have protections? >> right really the ios, and if you go to your phone which i know you do and all your apple

devices get that update so that software update immediately right here. neil: i have no idea what you're talking about but thank you for reminding me. >> [laughter] i'll show you. neil: you kids today, thank you very very much. in the meantime, want to let you know we always talk about a weak housing is getting and concerns it could lead to a free fall don't know if we're in that ladder camp but i follow a lot of papers around the country i have a vested interest, and the miami harold is reporting right now that the miami-dade housing market has finally starting to cool, prices dipping for the first time since early 2021 of course, florida area real estate particularly along miami-dade and up to palm beach county have been running at a double-digit rate quarter in quarter out, and it's almost like, you know, chips on a gambling table here but that is slowing for the first time as more homes come to the market and buyers are getting reluctant and not being into this market. so in the sunshine state, maybe, maybe, a sign of things slowing down, what the was hot, maybe

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neil: their goal to repeat offenders and it's out of control but more offenses these days especially in the new york city metropolitan area is how

these repeat offenders keep repeatedly getting let off, and out of jail when they commit crimes, and nothing seems to stop it, including one glaring example, that's got the big apple's attention and then some. david lee miller with more in new york city. david lee? reporter: neil, the arrest of a convicted sex offender who was caught on camera viciously attacking and critically injuring a man in the bronx only to be set free by the courts, has outraged many new yorkers. the video, you're now about to see , is difficult to watch. a week ago today, he walked out of a restaurant and put on what appears to be work gloves and then allegedly punched jesus cortez in the head who had just levin the very same restaurant collapse unconscious and fu is on parole, and he told his parole officer, "i'm in trouble, i hit someone and he's in the

hospital. i don't know if he's dead, the police are looking for me, i was at the restaurant and i know the police are looking for me." following his release, as seen on video from the daily mail, fu was combative with a photographer in the courthouse after initially being charged with attempted murder the charges were downgraded to third degree assault and second degree harassment. both misdemeanors which are changes to the states bail law are not bail eligible. >> certain crimes such as the one that this individual was charged with do not allow a judge to set bail. they are not considered bail- setting offenses and until the bail reform law itself is reformed, or changed, then these people are going to be allowed to be set free without bail being set. reporter: the victim of that attack remains hospitalized, following brain surgery. as crime continues to surge here in new york city, there are growing calls among republicans and some democrats for changes

to new york's bail reform laws. a local newspaper headline said this today. the city feels sucker punched by the justice system. neil? neil: this is incredible. david lee, thank you very much. this is not only in new york related phenomenon. it's happening everywhere particularly on the west coast where we've seen crazy incidents but what happened at a 7-eleven where a flash mob essentially took over that beats everything else we've seen. of late, jeff paul on that in los angeles, jeff? reporter: yeah, neil, we've seen these countless cases of street takeovers where masses of people using their cars essentially shutdown intersections for stunt s but now police say one of those takeover crowds shifted towards a convenience store to take that business over >> this is becoming a new trend where they think that they show up and take over a streator a freeway or any part of the city they are just going to be able to do whatever they want come into the store and take what they want and we're here to say

it's basically not going to happen. reporter: up to 100 people at times reportedly packed inside the 7-eleven store in south la as masses filtered in and grabbed pretty much everything in sight. the store employee had to run to the back of the room fearing for his safety. dozens of people emptied shelves and trashed the store at one point, at least two people jumped over-the-counter and started throwing items to people in the crowd. now police are calling this a flash mob looting incident and they are trying to get this video out hoping that it will eventually lead to some arrests, so far no word yet on any of those arrests, but if caught some of these people are facing charges including grand theft, looting and vandalism, even after this store takeover, police say that group eventually , neil, went over to block more lanes of traffic at the nearby 110 freeway. neil? neil: you know what's wild about that video, unless i'm not see ing it properly, jeff, is a couple of people aren't hiding who they are or disguising

themselves, and i understand the regular shoppers there, but a good man it of those assaulting didn't hide their identity. reporter: no, no, right out there, it seems like they have no shame in doing it, and power in numbers. you can imagine, if you're that employee working this 7-eleven at these hours, we're told 12:4. you're already sort of on your heels and nervous about anything that could happen and then having all these people coming in, as you're just trying to do your job and make a living, its got to be incredibly terrifying and frustrating. neil: to put it mildly. jeff thank you for that i want to go to joe lieberman you remember him of course the former senator from the great state of connecticut ran for vice president in 2000 with al gore. senator, this looks to be pretty out of control, and it got the attention of doug shoen and andrew stein, powerful influential democrats both writing today in the wall street journal democrats better pay attention the rising prime is

largely the by-product of far left criminal justice and policing reforms democratic cities and states adopted over the past few years. what do you think of that? >> well, i think doug and his co-author issued a really reasonable rational practical warning to democrats. the stories that your two reporters just gave us are really outrageous and infuriat ing but they also represent a real threat to american life as we have known it, and by that, i mean, one of the aspects of our country that makes this a great place to live is the rule of law, and who is it who really enforces the rule of law? it's the local police, it's the fbi and nationally, and when you start to both turn on the

police and say defund the police, or defund the fbi and you adopt laws that these so-called bail reform laws, you're really undercutting the way of life in what gives us the security to go out and do everything we want to do. work, play, et cetera, so this has got to stop and honestly, i think there's going to be an up rising of the american people, could be in the elections this fall on this issue. this matters to people. neil: even if you just want to be blatantly political about it, and you're a democratic politician and you know your base is in urban areas and in cities, and that base is dealing with this , you would want to do something about this , wouldn't you? >> yeah, well this is a really good point, neil. look, i was raised as you probably were, although you were raised later than i was, to see

the police is our friends. they were out there to protect us from the criminals. now, i understand that police are people and people make mistakes. some police have made mistakes, but to turn on the police is in nobody's interest. they ought to be funded more and given more strength and i want to come to your point. in my opinion, the concern about what you used to call law and order and respecting the police and letting them do their job is broadly based in our society, it covers every demographic and the truth is i always found in my own political career that lower income people were as anxious to have the cops on the beat during their job as people in the suburbs, because they feared crime, and that's very large, so some democrats are beginning to react to this. you see in some cases where more

liberal sort of pro-criminal, anti-police democrats have been defeated around the country this year, and that's a clear message to the democratic candidates and officeholders. same with police and same with the law because that's where the people are and that's what our society and great country needs. neil: i think you're right and senator, i'm about in your age range so we're not that far apart, young man. >> that's very kind of you, very kind of you, young man. neil: [laughter] all right, young man, i'll let it go. senator great seeing you again i appreciate that. in the meantime here, mitch mcconnell is among those saying you know, slam dunk that republicans are going to take over the senate, maybe not. what is the &%pt republican senator think of that, after this. ♪ ♪

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neil: you know, this has been a huge week for ev news, electric vehicles, and so many of the major suppliers auto companies talking about a rollout some in the case of dodge with a cheaper midsize vehicle under $30,000 so we thought we'd ask folks, you know, are you into this? would you buy such a vehicle? and now, we want you to sort of think about this , ponder over the weekend, you can always tweet us at teamcavuto. that's the handle on twitter which i'm told is huge! anyway, this is what we got so far. it seems like more than eight out of 10 of you are not too keen to say absolutely not! i would not buy such a vehicle, over the next year. i wonder if we just said if ever , but anyway, that's soundly beating very likely, likely or maybe by a country mile, no matter how you get there and of course some of them are pretty interesting. i can barely afford groceries

and gas let alone an electric car that comes from sherry, greg says i live up in the rocky mountains and need to be sure i don't run out of charge when it's an icy minus 10-degree day outside. a very good point. we're going to be exploring that let us know. we'll have the results of all of this on monday, now, some of you might tweet and slit through some disparaging comments about me. here is a backdrop i'm very vulnerable this week. i really don't need the fat jokes, i don't need you talking about yeah, but what would you drive, cavuto? i know what you're saying. if you want to have nasty stuff send it to "varney." if you want to respond to this and do your homework like i told you to, you respond to us and if you write and add nice things about me i can almost guarantee you, that tweet is on. anyway, we'd like to know your thoughts on all of that. let's go to kelly o'grady in el sugenda, california, not so much about what you might be tweeting but this backdrop for the grid because it's the grid that'll power these puppies and there are real

concerns out there that it's up to snuff, right, kelly? reporter: yeah, definitely, neil i mean, let alone electric vehicles people this week were asked to shut off their ac's because of the sweltering heat. residents had a bit of a shock this week, the grid is notoriously unstable and so they received an alert saying hey, let's try and reduce that electricity usage between the peak evening hours, to prevent blackouts and the california iso had tips to make sure you keep your thermostat at 78 or more, cover your windows, avoid major appliances, turn off unnecessary lights and the alert lasted just a few hours but really underscores this growing power crisis and the feasibility of the states electrification goals as california seeks to meet its green deadlines, the grid will become increasingly more stress ed in evening hours as drivers switch to ev's as you alluded to and by the way that isn't just a california problem. just weeks ago tesla asked its texas customers to avoid charging during peak times.

that's something which could disincentivized buyers already worried of running out of battery. many in the golden state are looking to solar as a solution but demand typically peaks in the evening hours when the sun goes down. increasing storage is a key focus but projects are delayed due to permitting and supply chain challenges and that could force operators to extend the life span of fossil fuels plants which would increase customer rates. by the way cost is already soaring worldwide. in europe the benchmark power price surged over 500 euros for the first time. look at this chart shows google searches for fire wooden germany spiked this year, customers are desperately speaking alternative s this winter. i can certainly attest that the electric bills are high here in southern california second only to hawaii but you talk to energy experts here and they are saying these problems, the cost, the delays, they are going to persist because this transition to a world where we rely more on the grid, they feel like that plan is just locking, neil. neil: yeah, especially with this building demand that's out there with all these hotsy totsy

vehicle, kelly, i want to go to what he makes of this , the senator from the beautiful state of north dakota, and the senators been warning about this overreliance on a grid, electricity, right now because we might not be up to snuff and given this push, senator, always good to have you to get into these vehicles and incentivize us to get into these vehicles, it doesn't sound like the grids are up to that demand. what do you make of it? >> that's exactly right, neil. good to be with you, and you and i have been talking about this and here we go again. i mean, here we go again. it's hot in california and already, you know, they are going to have to set their thermostats at almost 80 degrees they want all this electricity for their electric vehicles but at the same time and of course it's just reversed in the winter when it's very cold, and here you've got an administration that is taking out the kind of base load that we provide. coal fired base load, dependable , low cost, you know it's going to be there.

the best environmental stewardship, and that's why, you know, again, the biden administration is handcuffing our energy producers whether it's oil or gas or base load, and you're seeing ramifications. we have less energy, it means higher costs at the pump, it means higher costs in the grocery store and remember, it's not just all of those factors. energy security is national security. so for all these reasons, we've got to get back to a common sense approach that allows us to produce all these sources of energy, and that also then will enable us to address these issues with the grid. neil: you know, senator, maybe you can educate me on this but in that climate change bill, inflation reduction bill, whatever they're calling it ironically there is support for traditional energy, or at least allow look for more oil, or traditional energy in remote areas including an oceans, et cetera. is that in there for good? and what are your worries if it isn't? >> well, we've worked very hard

to get is a 45q credit which really helps the base load continue and deploy these new technologies that capture co t. we're leading the nation, we have two coal fired electric plants that are moving forward with carbon capture. we have a coal gasification facility that actually takes coal producers synthetic natural gas, fertilizer and other products, and they're already moving forward with carbon capture, so that's the point i'm making. we can keep this base load in place and at the same time, have the best environmental stewardship and we need that energy, not only for the integrity of the grid but just to meet the energy demand of our country and do it cost effectively and dependable. neil: that's apparently one of the reasons why joe manchin in the end voted for this because it did provide those protections , and not a single republican did including yourself. >> but neil, the problem is it's a big tax and spend that never should have been in there. we fought and fought to get

these things in other places and as you know, this is a tax and spend monstrous it and it should not have been passed. neil: senator while i have you here, your colleague, on the republican side, mitch mcconnell, was raising some serious doubts about maybe republicans getting ahead of themselves about flipping the senate in november. i want you to react to this , mitch mcconnell. >> probably a greater likelihood the house flips than the senate. senate races are just different. they're statewide, candidate quality has a lot to do with the outcome. right now we have a 50/50 senate and a 50/50 country, but i think when all is said and done, it's we're likely to have an extreme ly close senate, either our side up slightly or their side up slightly. neil: i noticed in his remarks, senator, his worries over candidate quality, and much has been said about some of the eventual republican nominees

to take back the senate, that they might not be up to snuff and might not win, and whatever happens in the house, republican s trying to take over the senate. what do you think? >> we have good candidates. he's just talking about how it is very challenging to take back the senate. we're optimistic about the house it is going to be more challeng ing in the senate because we have far more races that we have to defend than the democrats do, so i think he's being careful to make sure that everybody keeps their nose to the grindstone really works hard, takes nothing for granted but we do have good candidates and on the issues, absolutely. we have the right side of the issues whether it's this out of control spending, taxation, regulation. look, energy costs like we're talking about, how about border security? something you and i have talked about a lot incredibly important , law enforcement, support for our military, on all these issues, i think we're in

strong shape. neil: all right, we'll have to follow it closely, senator great catching up with you from the beautiful state of north dakota. in the meantime here, you probably are hearing this back and forth as to what will be released from those documents that justified the raid on donald trump's home in mar-a-lago. be careful what you wish for because a lot of people are saying now the judge ruled that something will be released a good deal of that could be redacted, could be covered in black. does everyone ever remember that with the nixon watergate transcripts, conversations or writings of them, that happened in the white house, that later did get released, years later. but in the meantime we're everything is all blacked out and impossible to read it and they wasted a lot of time on ink and copiers, after this.

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in palm beach, florida while on top of these ongoing developments here as to what the judge will allow to be released from that affidavit and the details of that affidavit that prompted the raid on donald trump's florida home, and you can see that he is there now. he hopes to be there day in and day out, reporting on this ever- alarming constitutional crisis. mark, what's the latest? reporter: neil, well wie are looking for real estate here, in west palm beach and the palm beach area trying to find out where we're going to be because this case just keeps going on. good afternoon to you. we are waiting to see what federal agents may have to say about the unceiling potential of this affidavit because as we were just talking about, we know that they do not want to release all the information about what led up to the search here at mar-a-lago, a little bit more than a week ago but just yesterday a judge said that in the interest of transparencies, there's so much interest in this case, that he believes some information will likely be able to be released. now, just yesterday, we talked about it all day on the air, and online, was these attorneys for different media outlets that were arguing that in the

interest for the public, that this affidavit should be un sealed, which would also detail which witnesses are cooperating with the government as the feds continue to find out why so many classified and top secret documents were being kept at mar-a-lago long after trump left office. the judge is giving the justice department until thursday noon to decide which information should be redacted and watt can be disclosed but a keynote here federal prosecutors can also appeal the judge's decision if they don't like what he has to say here, so this is something that could still take sometime. representatives for the former president, they didn't even speak at the hearing yesterday. trump himself though on his social media has been calling for the full affidavit to be released. he's accused the justice department of abuse of power here. we did hear from trump's legal team on fox last night. they argue, whatever is ultimately released with this affidavit, they don't leave it's going to be enough. >> i think that there won't be very much transparency i would expect that we'll get a lot of black ink all over that piece of paper, if i was the doj, biden

doj, i'd probably be redact everything other than the word and and the , so we're going to have to see what they kickback. reporter: so, the trump team says they're simply waiting. we're also waiting to see if the former president may release any of the security footage from this compound here from mar-a-lago, which would likely have shown federal agents when they were here a little bit more than a week ago. trump has hinted maybe those tapes would come out but there's no guarantee that might happen and neil, i don't know cavuto compound somewhere around here maybe we could crash there. i figure you're the big bucks, you know, maybe you got something down here we should hang out at. neil: i don't think you're all that far from a day's inn. it's about an hour north of you. so let me know how that goes. but great reporting, my friend. >> thank you. neil: mark meredith, palm beach, florida, it's very elite, very elite. very mark. we have a lot more coming up including sell-off that continues, at the corner of wall and broad potentially robbing

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inflation reduction measure is going to be a boom to, well, gate-raising money from the well to do and not for those earning $400,000 or less, but what's lost in the sauce here is that is a huge crowd of people, of 400,000 or less, because the fact of the matter is, they account for about 60-# 1% of all of the tax revenue raised and they aren't all wealthy or not all really the subject of this great debate to hear the administration so they aren't going to pay more, when they get the word because they fear they will indeed pay more. they are cattle ranchers very big in thorndale, texas, david and deborah in joing us right now i believe it's a little bit north of austin, folks? >> that's correct, northeast. neil: got it thank you very much so david, i'm curious what is this about. you hear you aren't going to have to pay more but you already have your doubts and some proof. >> of course we do. we've been audited before. we've had numerous problems with

the irs since then. that's who they're going after. if they were really worried about raising money and going after people, they would go after al sharpton and folks like that that owe millions of dollars, not little people like us. neil: deborah, the argument is that this is 85,000 irs agents that the government wants to hire are meant to target the top 1%, really elite crowd. you have nothing to worry about. what do you say? >> oh, we know to worry because we went through it in 2010. why in the world would you go after someone in middle income, self-employed farming at the time we were also in a drought, and i think even had a business model and yet they came and audited us over an expense, a tractor expense, and for three days, and we gave them what they wanted. we were not in the wrong, and

they just wouldn't stop, and that's what people need to be worried about is they want something from you. everyone. they want something from you, and they can't fight the big guys so well, because they lawyer up and it's a big fight, but when you don't have a lawyer , or you don't use a cpa, you're a soft target. you're easy, you feel intimidated. we definitely did, and at no time did i ever realize i could say no, you can not come into my home. there with were so many rights i had i didn't know i had. it was a learning experience. i've had e-mails from people all over the country, saying they're proud of me for speaking out on our experience, a lot of them saying be careful what you say because the irs is watching too. so i'll probably get audit audited for being in interviews. neil: i hope not but deborah that's interesting and david i don't want to get into your tax details or how you pay taxes

whether you do so as a couple, individuals or whether you do so as an s-corp. or a business entity but you have been a target in the past and both you and deborah have scars to prove it. do you think that will be the case now, even moreso and what's your message to a lot of folks who think they are going to get a pass on this? >> all i can say is be prepared be transparent. have a good person prepare your taxes. like i said, all your receipts have them. we had everything and we gave it to them, but he was not satisfied with that. he went digging three years prior to that and wanted more. neil: so you think and deborah it seems like you're saying the same thing here, that you could be do everything on the up and up but they are going to look at everything so when you hear that the biden administration said no, no, if you're under $400,000 we're not targeting you but that's a large

group of people like you represent all the way up to $400,000, 60-plus percent of all of the tax revenues raised you're a tempting target, right? >> we are just hot like i said we're a soft target, we're just easy to get after, and someone said, you know, we don't have anything to hide. we weren't, we're not trying to get away with anything, but someone e-mailed and said you do have something to hide. you have your privacy. you have your rights as a citizen in this country, so i'd like to thank all of the people who reached out. i've talked to people that are scared to talk, because of things like that. neil: i can't blame you. deborah, you talked to us david ursino talked to us. hang in there, but i think people needed to hear what you're saying. you don't have to be the 1% to be 100% worry, we'll have more after this.

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stuart: neil: all the lobsters going through the roof, you can't go to the roof if it is underwater but for a lot of people, they are in a real pinch and a lot are underwater as a result, the trend is not necessarily their friend, jeff flock has more.

jeff: i am on the stern of one of the thousands of lobster boats in these waters. you watching trout come up. sunny is pulling up with his 2 sons, what have you got in their? >> lobsters, don't know if we can keep them all but i can keep that one. jeff: can i keep that one? the problem, have you gotten a lobster roll lately you pay through the nose for it, the problem is what they are paying you at the dock for this has gone into the dump. >> lowest price i've ever seen in my life. jeff: how many years? >> 40 at least. >> you and your father and his father before him. >> third-generation and fourth-generation.

jeff: the demand for this -- look at this. if you blow on the claw, watch this -- parton me. i was going to show you something but let's move on. the problem is the demand for lobsters has gone down because people have cut back. >> the mystic demand has gone down. >> you have too many prices and the lobsters have gone down. >> that's the way it is, lobster is considered a luxury item and in the recession that's the first thing to go. jeff: i will hold onto it. your inputs, those of state high. you are -- >> the fuel is high, fuel is over $4 a gallon. jeff: showing you the bait. >> pics and hand that we put up in the bottom of the pocketed

haring that we use and also we throw in a couple menhaden, give a little taste of everything. this all costs. by the time we go through what we use for the day and what bait we use for the day we are looking at $600-$1000 a day. that's a lot of lobsters at $3 to breakeven little-known the check at the end of the day. jeff: don't know what the future holds for your sons in a lobster business. >> we will see. we are fighting whale regulations from the federal government, they are trying to shut us down, we don't know what the future of the fishery is. jeff: a picture of this guy. before he eats me i will try to eat him. neil: du government folks just see these folks when they make these decisions?

it is wild. jeff: they don't listen to them often in these guys want to make sure there are lobsters out here, they are not trying to hurt the environment, they want the environment to be clean and good and great. neil: easier said than done. thank you for all that. jeff flock in maine following this development. it led to a conundrum not only for lobster fishermen but restaurants, inflation means you have to find cheaper ways to get food to your customers table, customers coming in at all and a lot of them found clever ways around that by trying to deal with the crunch of available workers because a lot of people are not answering the call so they come up with other novel solutions. madison. >> reporter: i'm behind the castle where flippedy the robot is the star. all you have to do is load the frozen food in there and

flippedy does the rest. this is the first flippedy 2 in operation but this robot right here is in operation across the country and innovation could not be coming at a better time. restaurants are struggling to hire workers but white castle tells us by filling one of the toughest a higher jobs, the fry cook, with a robot more people have come in for other positions. >> flippedy helps us bring that to the table but also makes it easier to run the operation so having a great place to work means a great environment empowering people with the right tools. >> reporter: whitecastle has hired 500 do employers across all its stores in the past year. it is at a record number of employees even with this robot. >> a big labor gap in the news all the time and flippedy solves that problem. a lot bunch of tasks are better suited for robots.

>> reporter: so ricky has been kind to share her kitchen with me all day long. even working here for a while what do you think of flippedy as a coworker? >> i love flippedy. he is just amazing, one of those i can drop the food and walk away and go help a person in the crew and get things done, you want to come back. >> reporter: people are worried what does this mean for jobs, do you feel your job is threatened by having flippedy? what does it do for you as an employee? >> nothing because we need someone to work with him to box the food. they are not taking the job away. he's making it better. exceptionally better. >> reporter: innovations like this, this is the first flippedy 2 but white castle, they have one hundred of these robots at their locations across the us. cool stuff. neil: there is a theme here,

you heard from jeff flock in maine desperate times call for desperate measures and adjustments to respond to price pressures and sometimes to avoid passing along those higher costs to you is still unavoidable. jerrod, what do you think? these are just two illustrations of what you have been talking about for quite some time. >> nice to see flippedy as a helpful element, orders for workplace robots in the first half of 2022 were 50% year over year due to labor shortage and part of it is robots -- these guys are like i've got something that you doesn't complain, this needs pto is dependable.

the question is -- our employees as a whole. i think we are down and it is great. you've got the people who are not going to do that. thinking outside the box, worried about getting to the point -- you got all these things that happened with that work. there are two sides i'm watching but nice to see flippedy. neil: could be like the twilight zone episode and flippedy is the government but that's another issue. you know, gary, you've been talking about inflation from the earliest days that it wasn't going to be transitory, there were no signs of it easing up anytime soon. in europe and britain, offering record inflation numbers every month so what do you think happens here?

>> even though some things have come down everything is staying very elevated. there is not a minute of the day. i said this 100 times, yields which will track inflation and oil prices which look like they had a low here. if they go up nothing good happens. now flippedy 2, that means there was flippedy one and this is about technological improvements and if that continues i promise every business that sees it and can benefit from it is going to move towards it. when i go into an airport and see 100 kiosks instead of people it tells you a lot of which where we are going and i know we heard from some that they are not worried about their jobs but i must tell you the more this goes on the less and less jobs there will be in for flipys to come and i'm worried about flippedy 3 if they decide to pick stocks much better.

>> i'm having a 2,000 one a space odyssey moment, open the page -- the pod bay door, you are too young for that. let me ask how investors respond to this because we are seeing some, not all retailers passing along these increases, sales are up, but that is measured in dollars because they are paying more dollars for those goods so the consumer seems to be dealing with this, he or she are not shut out but what do you see happening? >> there is a great readjustment happening in our social and cultural fabric, we have become accustomed not only to high prices, to price volatility and it is like okay, that is the attitude we are taking as we are coming out of a global world all-time record of prosperity some people do have money, they've got equity so it is okay.

i just had a pool redone, three times what it would have cost four years ago and i had to say okay. the short of it is we are adjusting, we are paying more, we are not going to see prices come crashing down, you rarely see a business owner reflecting down. the problem is if we don't see those wages growing they are not consumers will reach a point where they have got no more or are at their breaking point and i have to downgrade my house and do something. that's what we are looking for, when is that point and how bad does it look from an economic perspective? neil: in the meantime we are focused on the midterm is but some are kicking the political tires in iowa looking a couple years down the road after that after this. ♪

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neil: ever been to the iowa state fair? one of the greatest fares in the country not only for the great food and incredible barbecue but you might see a presidential candidate or two or 2 dozen when you are there. grady trimble in des moines, iowa. we are focused on the midterms. a lot of guys looking a couple years after that. >> reporter: it might be dizzying for some people to be thinking about 2024, but the schedules of several prominent republicans this week look like they might be eyeing a run into thousand 24. former vice president mike pence will be at the iowa state fair today, officially he is here stumping for senator chuck grassley who is expected to win reelection in november and if so he will be 89 years old but

the visit from the former vice president is also fueling speculation that he might be looking to 2024 and a possible presidential run. adding to that big you they should he was in new hampshire earlier in the week. pence's schedule isn't the only one that resembled a presidential election cycle schedule. florida governor ron desantis is in battlegrounds pennsylvania and ohio today and stopped in new mexico and arizona last week. senator tom cotton visited new hampshire tuesday. senator ted cruz was in iowa campaigning for grassley a couple days ago and finally outgoing maryland governor larry hogan came here to the fair a week ago. all those names have been bounced around as possible presidential candidate in 2024. the democratic national committee is already hitting back. it held a virtual press conference this morning ahead of vice president mike pence's

visit bashing his policies but it is worth noting the democrats, the dnc have not decided whether they are going to keep the iowa caucuses as the first in the nation like they have traditionally for years and years, they will wait until the midterm is to make a determination. the republicans and the rnc are all in on iowa and that might be why several candidates including mike pence are coming here. neil: thank you for that, grady trimble and lee carter with us, republican pollster, it is interesting the number of candidates feeling their way around iowa, new hampshire, chris christie has been seen a couple times. if you think about it, a lot of these are candidates if you include liz cheney, who are not on the same page as donald trump to put it mildly. what are their chances in this party at this time? >> there's a lot of uncertainty

in the party at this time. donald trump seems to have a lead in the polls, it does seem he is getting more intense support despite everything that is happening, that said we are a long way from deciding who the republican candidate is going to be and we have no idea, thick back where we were in 2015, a year from the election, two years from the election, it was almost certain that jeb bush was going to be the candidate, june 15, 2015, there was an article that said five reasons jeb bush is the next president of the united states, donald trump hadn't even entered the campaign until the end of june so i think a lot of people are out there dipping their toes in the water trying to get a sense to see if they will get any support. anything and everything could happen at has happened, we've seen it before and will likely see it again. i do think there is an opportunity for someone to come up from the ranks and show an alternative view of what the

republican party we could look like. i click this to be someone somewhat unknown and unexpected. most of the candidates have a lot of baggage around them and will not get the supporters donald trump and others to move to your side, it will be difficult so there are candidates who do have too much baggage but we will see. neil: donald trump had success getting his candidates in and candidates he dislikes out, liz cheney the latest victim. i am wondering does that mean it is donald trump's party to lose, forget if he is the presidential nominee again, this is the heart and soul of the party? >> that is a fair question. right now he seems to be the one setting the agenda. he's a master at setting the narrative, sitting the news cycle and all of that and seems to be setting the pace for the republican party right now. if the republican party wants to break from him they have to start doing that soon, but he is no doubt the loudest voice

at the table. neil: lee carter following these developments, never too early to shamelessly look at the next presidential contest. doesn't it just irk you. we have saturday's show to talk about this. i digressed. one of the things i love about my job is the people i work with but the people i get to talk to, the smartest people on the planet especially when it comes to great investors, can sure fisher -- ken fisher is among them, has an interesting read on the economy and the markets. he zigs while others zag and he has become a multimillionaire doing just that. might want to listen to what he has to say. he is coming. ♪

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neil: all the major averages are down today. this could rob us of a chance to see 1/5 straight running week for the market gains. we have 21/2 hours to go. dow jones industrial down 213 points, s&p close to 48 and the nasdaq all these concerns rate hikes will continue, feeling 251 point hit. that depends on where you see things going. we try not to take too much into one day or one minute of market movements. the next guest built a career on it. ken fisher runs fisher investments, the founder and chairman, recognized as active

manager of the year from the asset management, the closest i came to the annual fair. that was when i was 9. can is being repetitive. good to see you. >> thanks for having me back. honor to be with you. neil: i am sure you are looking at this. last time you were chatting, you were talking an environment, we have inverted yield curve and looking at other things, looking at other things, saying we would go into a deep recession if not depression, showing some optimism or areas others were missing. we since had data and a market perform notwithstanding, on some of the very things you were seeing than. what are you thinking now? >> the period we are in now is what i have written about for

years and years that comes up early in every bull market, what i call the pessimism of disbelief where people look at the negative side, but any positives that percolate up, they more or less say yeah, but to to, intimating it will either go away or turn into something even worse than if it was negative. the pessimism of disbelief is the ramp on which all bull markets begin. the telltale sign is the number of yeah buts you get. think of it as the flintstone market where yeah but, the reality is people from earlier when i was on your show, i repeat so many things people were afraid of and inflation is

a real concern. mostly the world is not that bad. neil: when you say it's not that bad, we come vitally back when looking at stock market and major averages, 50% from its lows. ~ comebacks, technology stocks, how soon before they are? >> never have a clear vision of short-term in the marketplace. and something fairly well-known, makes it doubly useful. you don't really get a world where they break down 20%, hit a bottom until we get an official bear market and the bounce back crosses 50% of that and go on to new lows.

we haven't done that once since 1950 and only a few times before that during the great depression and i think we are no bull market in the pessimism of disbelief makes people not see that. neil: let me ask a little bit about market averages. over time, where they pick and choose the stuff, can appreciate 10% a year, are we having audio problems, can you hear me? let's take a quick break and fix this. one of the things we are exploring is whether the markets are telling us something and we can resume our normal advance which i was trying to get across, we will fix 10% average annual gain. see if we can retain that after this. p with my credit cards wasn't good. i got into debt in college and, no matter how much i paid,

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neil: things should be good with ken fisher joining us. some people were emailing whether we are in a bull market right now. >> normally don't people think we are not bull market until new highs, we have worked the trough. i might be wrong but i don't believe that. it would be virtually unprecedented, it is down lists than half the way to bear market level. neil: short-term bear market in the scheme of things but where we are -- >> exactly what i told you i thought would happen, the fact is this is one of those bear markets that only a little bigger than what would

otherwise be thought of as an ugly correction and other ways fairly similar, when i was on your show last, there were lots of things we were worried about. a lot of them have fallen by the wayside and the two that keep coming up our recession, inflation, recession, inflation, soaring oil prices for the last few months, things like the ukraine war, that is a tragedy that keeps going on and keep turning into something worse doesn't look like it will anytime soon. the two big ones people worry about our recession, inflation and inflation versus recession. neil: the average growth in the market, roughly 10% or so that we could count on, from here on out, what do you think? >> longer term or short term?

if we think out in the longer term this is a bull market and i don't think it's very different, it is early, keeps people saying that, the fact is the elephant in the room is the robustness of loan growth which is ubiquitous around the world but stronger outside of america and contrary to what most people believe i don't believe the fed which last time i was on your show i talked about how effective the fed was, can hike rates and get us actually into recession from here because money keeps flowing every time they raise rates, into americans from overseas offsetting what they do and banks are lending aggressively. but homebuilding that area is

down in mortgage lending but otherwise, conditional business loans which are telltale you have signs of recession and if you remember from basic introductory economics, when i did it when dinosaurs roamed the earth or more recently, growth and quantity of money in the banking system from the banking system increasing that outstanding loans, that process is continuing to make it hard to fight inflation which is why feds are not doing what they need to do to fight inflation. they need to bring back reserve requirements they killed in 2020. neil: what is long-term to you? i'm of the age where long-term is lunch, i joked to make a point. a lot of people on the show, we are young people.

mortgage rates, at the end of the world, we had our first mortgage close to 14% and we thought we were financial nostradamuses. perspective is everything. there is a way investors burned, more than twice shy. what are you telling? >> my advice is stick to the long-term plan consistent with long-term needs, and listen to a lot of facts. and they can't get over there nightmare. the reality of this world it is it is not that bad as i've said repeatedly and will continue to say we are in a midterm election year, fourth-quarters of midterm election years, not only in america, and it ripples off into the third year for, and only down 9/10 of 1%.

it was a hard-core in perception, and by eliminating all of this and the chatter here on your show, what goes on with the irs, the build back better bill and all that stuff. all those fears go away once you get hard-core gridlock, one of the four corners of congress, one quarter doesn't go to the floor. >> >> as well is the chips industry relief, do you expect, that to be a problem, inflationary measures, >> i expect them not to be

short-term, they are spanned out over a longer period of time. you take all the concern, i'm not an irs fan, less than a thousand auditors in total, and audit of 100 people year her auditor. if you think about that as a stat, 0.6% of workers in america, increase by half, the irs figuring out how to spend the money early. stuart: neil: they are committed to hiring 180,000 agents. >> i bet they never get close to that. give them 35 years, the reality

is we will go through budget cycle after budget cycle, taken away down the road. neil: you mentioned homebuilding, that slowed from high levels, the first indication, the miami herald reporting, price hits from high levels that bring us back, and not a disaster by any means, and home sales, the impact of all of that. >> the disasters, people went home buying, people know that home prices earlier this year were very very high. people have been chasing homes too much and we are back to

levels depending what you are looking at look like numbers in 2019-20 which weren't so bad. housing itself, construction of housing itself was a percentage of us economy, small single digit number and important for people to remember always. i said this over and over again, global first and country second because the fact of the matter is us is not going to go one way while the rest of the world is going another way. we are moving the same direction, maybe more or less or in the direction of the global world overall in us housing is too small a part of the global world to have a big negative impact based on price. neil: i had ray here a few weeks ago talking about black swan development you can't be prepared for but worried about the agitation of china and

ourselves, what's going on with taiwan and the impact it will have. how do you as a successful investor plan for that? you can't, i understand. you must be aware of that and whether it rises to being something worse. what do you do? >> black swan as a concept? are you talking about china? neil: black swan develop into you don't see coming, talking about the possibility of china invading taiwan. >> black swans are supposed to be exceptionally rare, when the concept was introduced, it was exceptionally exceptionally rare if you go back to how it was introduced and more recently people moved into the world of black swan around every corner. the fact of the matter is china is a real issue in our world

but dolly a has been an apologist for china and almost everything they do and not really sympathetic. china is a broad economy in russia, much harder time but the fact of the matter, we need to worry about what we do and if we keep doing what we are doing for a long time which is to innovate, china is not great at innovating. stuart: what keeps you up at night? >> nothing keeps me up at night. that's a phrase i rebel at because if you -- let me offer this, advice i give investors, think of a battlefield general which is like capital markets, you want the battlefield general to not have a good night's sleep the night before the battle prepare before he goes to bed and sleep well? gets you to the point you don't worry about that much.

i think this world is not as bad as people think is which i think it is a world in which one should be optimistic. neil: what are you worried about in terms of, you don't focus on what politicians are doing, not worried, doesn't sound like it. >> the biggest concern, criticized the fed so many times, and bite inflation correctly and likely to keep doing stupid stuff, more inflation longer than people think we are. not at skyrocket levels, not getting higher and higher and higher but not going where they would like to. neil: does it matter to you who is president? whether donald trump runs again, president biden, if he steps down and someone else? any favorites?

>> do i have any favorites? i really don't have a favorite other than yogi bear but yogi bear has the famous line i'm smarter than the average bear and i don't want a president who thinks he's smarter than the average bear but the reality is in politics, this is legendary. 2024 is forever away, who knows what will happen and we always get the winner. we always like the president better than we thought we would when the process starts. i don't have a clue who that will be and don't worry about it. might that be donald trump? might that be president biden again? is it more likely somebody else than either of those two?

yes but i don't know and don't spend time worrying about that. the point i made before, the president's term having negative since 1939 and 9 tenths of one% of one% as world war ii was starting as we don't have world war iii starting. secondarily, they are not as positive but we've got a long way to go before we get to a presidential election. >> four more years of joe biden, four more years of donald trump, which would you prefer? >> i think we don't get one of either but if i had to make a preference i prefer the republicans to be in charge. neil: you definitely avoid my questions with a direct answer. >> your question is kind of hypothetical. you can't assess trump right now if you can't assess biden right now. neil: you say we are moving too

soon. here we have fancy graphics for that. we have fancy graphics for you. that's what we do. change i love graphics for midterms because the fact of the matters fourth quarter of midterm election year, by the way, we are going to create gridlock in this midterm and that is a positive thing that increases the plan expect from for businesses and makes investors more competent, you move away from controversial bills, thank you. neil: you should stick with this money thing. let us know how it goes. and uncanny read of developments a lot of people miss. a lot more after this, dow jones industrials down 249. ♪ ♪

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every search you make, every click you take, every move you make, every step you take, i'll be watching you. the internet doesn't have to be duckduckgo is a free all in one privacy app with a built in search engine, web browser, one click data clearing and more stop companies like google from watching you, by downloading the app today. duckduckgo: privacy, simplified. neil: i was scratching my head. i don't see how that happens. chinese president xi jinping and vladimir putin will attend

the g 20 summit. i thought in the case of putin i thought he was persona non grata and would not be welcome. let's talk to the independent women's forum, wall street journal moscow bureau chief. she's not afraid of my asking that stupid question. she can they go to the g 20? can they go to that? maybe xi jinping, but i thought putin was ostracized everywhere. >> he was in tehran recently. he gets around. these two are expert at playing the international system where power of enforcement, who says you absolutely can't? the g 20 could but china is in there as the big muscle, china is buying his oil. it is likely they will both show up.

they declared a new world order just before the olympics in china, the invasion of ukraine and are pursuing it. neil: how do these other leaders including ours interact with each other? they have to shake hands and do the group photo thing and all that? >> president biden i think is master of the fist bump. we saw that in saudi arabia but the way the us approaches this is seeking common ground on things like climate change where actually we are seeking the world-class award is the global chumps on climate change, where everybody talks about it. it is the united states and our wetters -- western partners in europe who are paying and paying for this my $379 billion, inflation proliferation act, inflation reduction act, into climate for

things like clean garbage trucks. in the meantime we are seeing the imf estimated the middle east over the next four years will enjoy a $1.4 trillion windfall on oil prices. neil: and invests in our markets and underwrites, it is staggering. >> and don't you love it when the climate commissars feel they must fly to bali of all places for a conference. neil: you are too cynical. catching up with you. ask a dumb question and she never says that is a dumb question. i admire that but after the break, she's going that is a dumb question. thanks, dad. that's right, robert. and it's never too early to learn you could save with america's number one motorcycle insurer. that's right, jamie. but it's not just about savings. it's about the friends we make along the way.

you said it, flo. and don't forget to floss before you brush. your gums will thank you. -that's right, dr. gary. -jamie? sorry, i had another thought so i got back in line. what was it? [ sighs ] i can't remember.

dad, we got this. we got this. we got this. we got this.

we got this. yay! we got this. we got this! life is for living. we got this! let's partner for all of it. edward jones neil: i love having is ken fisher on. he's just like charles payne, hay see things others miss. the same data, but differently. charles: only thing, he's worth about $10 billion more than me -- [laughter] neil: give or take. charles: good afternoon, everyone, i'm charles payne, this is "making money." volume has been swooning, but talk of doom and gloom, that's much louder. jim pollson's going to give us a few of his thoughts. also a lot of attention on bed bath & beyond after that a ryan cohen stunt, but what i want to really know is how do we