david: its been hot and cold lately on wall street, and welcome to the second hour of cavuto "coast to coast" i'm david asman in for neil cavuto today. stocks pushing higher as earnings season kicks into high gear. the dow powering back above the 30,000 level. let's bring in fox news contributor jonathan hoenig and market gauge group managing director michelle schneider is back with us. good to see you both. jonathan, i want to start with you since we already heard from michelle let me just ask about the rally itself. do you believe in it? >> well there's lots of reasons to believe in it, david. we are due, keep in mind last week, the retail investors buy three times as many put options as call options. that is extreme bearishness. we've never seen that before, so the market i think is setup for some type of a bounce. especially since david, as i said we are due. this is one of the worst markets in history not just stocks. we've seen stocks default 20% before but i'm talking about

bonds, fixed income, many of our investors many viewers are investors in fixed income down >>stuart:-16% just this year so we're due for a bounce just the beginning of it but longer term, unless inflation gets under control this market is dead money. david: and michelle we were talking about this being a world recession. this is a big one. this is something that's going to effect the whole globe. is there any place to hide if it's a world recession that we're going into? >> well, this could look like a very different type of recession , because yes you'll have demand destruction in so many things, obviously with higher yields, and contraction of an economy, but at the same time, you still have that nagging idea of inflation which means there may still be places to park your money for the inflationary-type moves, which is why even though they have become very unpopular because of the strong dollar, the middles are still intriguing to us, and as well as some of

those soft commodities still has been very strong and the grains have come off. i wouldn't necessarily be as bullish there, but even the energy markets as we know, any time can take off for any reason because of supply, so i'd say by now, cash is probably still the best place, and to jonathan's point. yeah, a rally be lots of fun for active traders and if you just watch a five minute opening range in these markets and follow which way it goes you can have a great time day trading but in terms of long term investments i'd be really careful right here. david: well jonathan you look at nasdaq. up 3.25% right now, it was at 3.5% a couple minutes ago that's a 10% gain on everything that we've lost over the past year because we added 30% loss, so one would think that to get in right now after a 3.25% gain be very risky thing to do. >> well, david, considering we're down 20-plus percent and look what's so frustrating is

that to michelle's point this is a difficult market in which to invest but because of inflation you have to invest, david. you're losing 8% a year simply by sitting in cash so i do think now is the time to be smart, take prudent risk. for example, not those beaten down names, this is my opinion, the technology stocks that have beaten down but some of the emerging markets for example , my clients own tur, turkey, this is an etf where stocks are extraordinarily underpriced but you have to look for the long term, david because in these types of markets how can you look out six months one year when you have no idea what happens from washington, what happens to inflation. that's what's buffeting the market now. david: the guts of somebody to name their company "turkey" or to name the stock, it's just that's awe gutsy move. what about buying a bond, michelle? when you look at a one-year yield of close to 4.5%, it looks like if you're going to park your money that looks like a good place to park it for a year >> yes, absolutely.

one year, two years, i wouldn't necessarily be looking long term to have my money in bonds. i'm really happy jonathan brought up the idea of emerging markets because it is possible that we can start to see some money coming in there. in fact i was reading some huge funds are starting to buy global etf bike vt for example, but yeah, i mean, really, the idea of the bond market, even that is something to be watched. right now, it's good. if you look at with the market up today, the yields are starting to rise again, so that's kind of telling you that this rally is to be very short- lived but yeah, there will always be something you can look at maybe certain things in the small caps also might be bottoming. david: jonathan then you have the political consideration to make. we have an election coming up in less than a month. we have president biden by the way saying that we are making progress against inflation. his anti-inflation act he points to as being successful on the

right track even though we saw the inflation numbers go in the wrong direction, go up again last week both for the producer price index and the consumer price index. issues and incites by the way it's a wonderful online economic newsletter, if you will. they say that the exact wrong thing to do right now is to believe anything that biden says about the economy. is he a reverse barometer for what's actually going to happen? >> david, just been flat out wrong and when said inflation was transitory of course it wasn't. the inflation reduction act would reduce inflation, it has increased inflation, in fact, this inflation, david, which was starting in washington d.c., the president has done everything to exacerbate it, prolong it, even now talking about in effect price fixing on insulin right now, so makes it such a difficult environment to invest. one idea, for example, is something as basic as energy. pxj is an etf during the 1970s it was a long bull market for commodities and everything the president is doing is exacerbating inflation.

it's making it worse. he's not taking the difficult albeit difficult cuts that are the only thing that can bring this inflation under control. david: i must compliment you, jonathan, on wearing a tie perfectly to the green on the screen that we see right now very well-done. i wish we would see more of it. michelle, john, great to see you thank you very much, appreciate it. well, meanwhile, new analysis showing that americans will pay an extra $14 billion for winter heating bills this year. fox business correspondent jackie deangelis is here now with more on this. jackie this comes as we are bracing for winter and it could be, if this is a cold winter, we maybe in very tough shape. you have a lot of sweaters in your closet? jackie: my mom used to tell me when it was cold out to throw on extra layers people will be doing that because she liked to keep the temperature low but for other reasons. you look at the iphone tomorrow, david, 44 degrees when you wake up in new york city. that's pretty seasonably chilly for october and what that means,

essentially, is that consumers have to start to turn on their heat soon but of course as with everything else it's going to cost more to keep warm this winter. a new analysis from the consumer energy alliance warning americans are on track to spend as you said $14.1 billion more on their energy bills this year. now, about half of americans use natural gas for heat. those folks are going to be paying 28% more. we've got a lot of natural gas in this country. we have the resources but with regulations and restrictions on fracking, we are taking less out of the ground then we could be. natural gas production is almost back to pre-covid levels but as with oil production, if investment had continued at a faster pace, we be producing more natural gas than we were in 2019. we're also exporting some of what we have to help europe, so we're helping our allies but we're certainly not helping the price there. the next-most popular heating source is electricity, year-over-year up 10%. for the most part right now electricity is generated from oh

, natural gas. nuclear, and coal. here is where the energy policy comes into play, once again. its got an impact on supply but also there's been an increase in demand from u.s. households and we can't keep up. heating oil, propane, those are 27% and 5% hikes respectively. no matter how you slice it you're going to be paying more, and many americans want to know when inflation and energy costs are going to ease. white house economic advisor jar od bernstein told fox news sunday prices are not coming down as quickly as previously hoped. he said it himself. david: and then we're hearing these figures that they say we're back up to pre pandemic levels, and frankly, we're not. jackie: we're not. david: they are doing all kinds of shell games in order to try to prove that. jackie: alternative facts. david: we'll talk about that with our next guest, jackie great to see you thank you very much. joining me is price futures group senior analyst and fox news contributor phil flynn. phil, great to see you.

how real are the prospects of power outages during the coming winter because of shortages of natural gas and heating oil? reporter: i think that it's one of the biggest threats i've ever seen in my lifetime for this time of year. you know, usually when we're talking about power outages, david it's when the air conditioner units are on with weather issues and heat. not in the winter and that's very dangerous because people right now that for example, heat their house with electricity, you know, may have their power cutoff during the day, and it's mainly because of an avoidable reason. it's because of the inability of new england to import enough liquefied natural gas partly because we're sending a lot of it to europe, part of it is because of what jackie said, the lack of investment, and number three, the jones act which really restricts moving lng from texas to the northeast, which even makes the situation

even worse. david: there's a threat from the administration to try to cutoff alex ports of oil and maybe natural gas will come after that. those things are problems but the real problem is we are not producing what we have. we don't have an energy crisis in the united states. we have all the energy we need. the crisis is that our leaders are not producing it and they are actively preventing the production of natural gas and oil. no? >> i would say we do have a crisis because of our leadership , because they are leading us into an energy crisis it's a totally avoidable crisis, right, dave? and that's the question. we're already starting to see the impact of bad policy decisions made in europe, but you know we're seeing it because of the war. we hear about putin's war in ukraine, but really, the reason why it has an impact on energy is bad energy policy in europe, and now here in the united states, the biden administration is following that same path and

that we're starting to see the impact of that. hey, you know, i'll tell you it's an energy crisis to people that aren't going to be able to afford their bills. we're seeing more americans fall behind on their heating bills and their electricity bills that we've seen in probably a decade, dave, so this is a crisis for a lot of people and it's going to get worse unless we change course today and i pray that we do. david: we're focusing on natural gas but let's focus on oil for a second we have about 15% of all domestic oil from the gulf of mexico. mckenzie & company just came out with this remarkable report and it's not a conservative outfit by any stretch. in fact this report itself is very green in their orientation, but they say that we could double the amount of oil that we get from the gulf of mexico. in other words, that would amount to about 30% of all of the oil produced in the united states and by the way, the oil that comes out of the gulf of mexico has about half of the emissions per-barrel that is the bad gasses and so forth that

they are worried about. it has about half the emissions that normal basin oil does, so we could do this , but the administration wants to cut back on offshore drilling, so just at a time where we could double the amount of oil, we're getting from the gulf of mexico, the administration wants to cut it by about 68%. >> right, and this is again when you start making energy policy based on politics, as opposed to reality, right? and this is the problem with the entire green energy movement everything that you can do with fossil fuels that can solve a problem, reduce greenhouse gas emissions, and part of that just because it's fossil fuels, and because their green energy backers are against everything fossil fuels because they aren't getting all the money they need, right? at the same time you're discouraging investment in the gulf of mexico, where you can get some of the cleanest amount of oil & gas that you can get anywhere in the world and then calling up saudi arabia and getting mad at them because they

aren't raising oil production. i mean, this is really craziness the thing that worries me about that too is that now, we're heading into a situation where we're running out of friends in the world because of our energy policy, right? now, we want to have a conflict with saudi arabia and all of the opec nations are jumping to their defense saying no, it wasn't anything like this , and now you've got the biden administration wanting to use opec oil to influence an election. just put it off until after the election. i mean, we've got to see that this is not a sustainable energy policy. it's not good for america. we've got to change it, go back to u.s. oil & gas and that'll do it. david: we've got to change it and yet i see no signs from the administration that they are willing to do that. phil flynn good to see you thank you very much appreciate it. >> thank you, sir. david: just 22 days until the election. coming up how concerns about soaring crime could impact new york's gubernatorial race.

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david: well, new hampshire gop senate candidate don boldock looking to appeal to a larger base by bringing in former democrat tulsi gabbard on the campaign trail, you knew that was coming fox business correspondent hillary vaughn on the ground with more. hillary? reporter: hi, david well maggie hassen says her opponent republican challenger retired general don boldeck is too extreme for new hampshire but boldeck is campaigning side by side with a former democrat former congressman tulsi gabbard who announced she's leaving the democratic party now she's helping republicans try to defeat democrats in november. boldeck says it's a way to show voters he's serious about working with democrats if elected but senator hassen has been attacking her opponent for moving more mainstream on issues like abortion.

>> don boldeck does not leave that women should have the fundamental right to make their own healthcare decisions. his record here is really long. when the decision was decided he said women should rejoyce at that. then, as he tried to hide that position, along with his position he said he would never vote against any anti-choice legislation at the national level. now he's trying to hide that position. reporter: bolduc says his campaign is about heating and eating and how the cost for everything is going up but he also tells me he's not afraid to walk back things he said or admit when he's made a mistake. a lesson senator cotton hassen should learn. >> if i make a mistake or say something i shouldn't, it's even more important to retract that and make it right, or , you know, change direction. the problem we have right now is people just don't want to admit they made mistakes and reinforce failure. like senator hassen. she continues to reinforce the

failed policies of joe biden that gets us nowhere except for choosing between heating and eating. reporter: what is the more important issue to granite stat ers? abortion or inflation? >> there's three important issues to granite staters. inflation, inflation, and inflation. reporter: senator hassen has criticized president biden for how he has handled inflation , telling me last month that he did not act fast enough. david? david: president says we're making progress. a lot of americans don't see it that way. hillary good to see you. stay warmup there in new hampshire. appreciate it. well, shifting gears to new york where the governor's race is tightening and of course, focusing on crime. fox news correspondent alexis mc adams has the very latest on that. alexis? reporter: hi, david, yeah a lot of people are talking about crime here in new york city, and that's because it's up more than 31% just over the past five years, according to the nypd, including murder, rape, and robbery. it's alarming videos just like

this that have many new yorkers concerned, so just this weekend these crooks armed with sledgehammers broke into a jewelry store on park avenue. the nypd released that surveillance clip showing them taking off with more than a half a million dollars worth of merchandise. it's all part of a disturbing crime trend as this continues to spike in the city and ink across state. so, the race for new york's governor is tightening with all this happening. a recent college poll finds that democratic governor kathy hochul leads republican congressman lee zeldin by 10 percentage points but among likely voters that narrows to just eight. while the gap closes zeldin was just endorsed by former president donald trump over the weekend who says he specifically backs zeldin's stance on fighting crime. just last week the crime crisis hit home for representative zeldin when two teens were shot right in front of his long island home in this drive-by shooting that happened. zeldin blames the lawlessness on governor hochul's soft on crime

policies listen. >> people want to save the state. they want to save new york city and they are tired of having to wake up every morning and read all of the headlines of rising crime in their neighborhood places where they used to feel safe. reporter: so what are the top issues for voters? well according to a fox news poll it's inflation and crime, which isn't surprising. 89% of voters ink across country concerned about inflation as 789 % say they are concerned with higher crime rates, and those polled say they have republicans more than democrats to handle both major issues. crime is also a top priority for voters in the swing state of pennsylvania where the senate race between democrat john fetterman and republican mehmet oz is growing closer so we'll keep an eye on that too. david: all over the country very big issue alexis thank you very much. joining me is new york post columnist and fox news contributor michael goodwin. happy to see you, michael, good to see you. this poll by the way that shows a 10 percentage point gap between zeldin and the governor,

do you believe that or do you think it's going to be much closer than that? >> well there are some polls showing it even closer, and david, i believe for a long time that this was a winnable race for republicans for several reasons. first of all, kathy hochul has never been elected governor. she was lt. governor and took over when andrew the disgraced andrew cuomo left office, so and there's a real enthusiasm gap for her. she truly, she's run a very stager campaign. she hasn't really campaigned, she's tried to go around the state cutting ribbons and giving cliche speeches but she's put no agenda on the table that voters could rally around. she's been accused of pay-to- play because she's raised so much money of her campaign war chest coming from people with business with the state who have received really sweetheart contracts. she's certainly up to her eyeballs in the crime bail

reform laws that have turned a lot of criminals loose on the street, and zeldin, her opponent, has been about these things, and just as voters everywhere are talking about inflation and crime, that's double true in new york and new york city, so i think this is a winnable race. i think it's probably closer than 10 points, and i think the closing arguments are going to be key. david: you know, another key issue is the media, because the media can try to avoid inflation, but they can't avoid crime. there's an old saying on television it's a horrible old saying but if it bleeds it leads, and that's true for both television news and there are some newspapers left in the world thank god like yours the new york post but the bottom line is, you just can't avoid the crime issue. again, you can sort of stay away from inflation, but with these crimes happening all over the country by the way you can't avoid it. >> well that's right and it's happening in all of these

democratic areas, so new york, rochester, buffalo, utica. those are the kinds of areas where democrats usually run up the score in a gubernatorial race. it's why in the last four elections that the republican gubernatorial candidate has never gotten more than 40% of the vote, so that's why i think this is such a big issue, that it goes to the heart of the democrats themselves and they don't seem to have an answer for it. you have a democratic governor, a democratic legislature, democratic senator, u.s. senator s, and the state is going downhill. it's in a long, slow, decline, and kathy hochul, i think, has not done enough to disassociate herself from that and even to promise a better day in the future with taxes, all of the things that are driving people away from new york. david: don't forget by the way the democratic prosecutors who are really radical, the soros-

sponsored prosecutors and that's what new york has in common with all of the cities and the states that are having serious crime problems. one they have first of all, they defund the police movement which was democrat-based and it still is some democrats, secondly, the soros-inspired prosecutors and third these terrible bail laws which allow criminals without bail, you see that happening again and again in new york, and other cities, and hochul has supported these laws whereas lee zeldin says he's going to overturn them. >> yes, and i think what hochul has counted on, just as your earlier report on new hampshire, it's abortion and donald trump. that's what she's running, you know, we'll promise you abortion and donald trump is evil and he endorsed lee zeldin. zeldin did a very smart thing, i think. he put out an ad saying look, i'm pro-life but i know i can

not and will not change the abortion laws in new york, which codified roe v. wade and then some several years ago, so i think what zeldin is trying to do is take that issue off the table, say i'm not a threat to abortion rights in new york, so that it removes from hochul's argument one of the main planks that she was using against him. i think it was a smart thing to do. david: michael goodwin from new york post. michael great to see you thank you very much for being here appreciate it. coming up, america's supply chain crisis could be far from over. kelly o'grady is live from the port of los angeles. kelly? reporter: yeah, right. i mean, there were signs that the supply chain crisis was starting to let up, but now, there are a number of new dynamics that may threaten whether you get your holiday presents on time. we'll tell you more, after the

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david: well america's supply chain crisis is far from over. fox business kelly o'grady is live at the port of los angeles with a story right as we're coming into the shopping season, the holiday shopping season. it's not a good time for it not to be fixed. reporter: i know, david. i get to be the grinch today but let's start with the good news. so the port crisis we were dealing with last year, that has significantly lessened. you can see all of the cargo containers behind me. those would normally be piled way higher during the height of that snarl but there are a number of dynamics threatening that progress. the first is drought. so drought is causing the lowest water levels in the mississippi river in decades. the vessels actually have gotten stuck in the mud and on sandbars there and the crunch is coming at a crucial time for the transport of crops like corn and soybeans so for context 500 million tons of supply valued at 130 billion in trade are ferried along the

mississippi every year, and so shutting that waterway down due to drought could not only delay shipments but sends costs soaring. the second big challenge is labor so we've got west coast dock workers here that have been working without a contract for three months and there's a worry they could strike and that could send cargo to other ports around the united states, that have already seen crunches taking the burden from the west coast, and speaking of strike at the most imminent threat is that railroad deal on the table. now six of the 12 unions ratified but the third-largest has rejected the present deal. the good news though is there seems to be a willingness to negotiate rather than strike. >> it is not our desire to go on strike, and look, the reason being is because when you go on strike, you're exercising the most ultimately economic weapon that a worker has and that causes economic hardship for these employees and it also causes economic hardship for the railroads. reporter: so right now, you've got all of these dynamics that are looming causing a lot of

uncertainty for retailers to determine how much to order, when to order, now if i haven't scared you off with the doom and gloom though, definitely tune into how america works tonight on fbn prime at 8:00 p.m. you can learn all about cargo and the supply chain but sorry to be the grinch today, david. david: that's all right but you know, we have a department of transportation in the united states run by a former mayor, pete buttigieg, who claims that everything is operating fine, now is this just political two- step or is there any substance to his contention that its gotten a lot better? >> so i think to his point, it has gotten a lot better. you don't have the queue of 100 ships i think we caught up to at one point outside the port of la but let's say they can't reach a railroad deal in a month or so. conveniently after the mid-terms , we could be looking at a strike that would impact 40% of cargo is sent via rail so there's nothing right

now that's happening. there aren't 100 ships out there but we could be looking at some very big issues. david: all right, kelly thank you very much from los angeles. appreciate it. well as if that wasn't enough the cost to visit loved ones this holiday season is going to cost you more. we are live at o'hare international airport with a pricey breakdown. that's next. what if there was a community of like minded people ready to support you when you need it most? christian health care ministries is an organization with over 40 years of trusted care who understands the importance of family. a group that sees you for who you are regardless of your health history. offering values-based affordable health care cost solutions for people just like you and me. learn more today at your chm.org about healthcare that puts you in control. ♪ what will you do?

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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 david: i know a lot of people are going to hate to hear this but the holiday season is just around the corner, and so are airfare hikes. grady trimble is live in chicago o'hare international airport. grady, i thought we already seen those hikes. it's not like we haven't had them in the past. reporter: no. airfare is extremely high right now, david, and unfortunately, as we head into the holiday season, more people traveling, they aren't going to go down any time soon so kelly was the

grinch over at the port of la, and i'll be the grinch here at o'hare airport. if you are planning to travel this thanksgiving, or christmas , the folks at the travel booking app hopper say that now is the time to book. don't wait until october 20 or later, because starting that day, prices are just going to start going up. so let me show you the prices. we'll start with thanksgiving. the average domestic round-trip this thanksgiving, $274 up 19% from a year ago. if you wait until the last minute, you could pay as much as $$450 or more. for christmas, tickets are going to cost you even more than thanksgiving. hopper says christmas airfare will be the highest its been in five years. $390 for a domestic round-trip an increase of 40% from a year ago. >> for travelers who are flexible you can save $300 for ticket or more just by flying on the right days.

the weekend after thanksgiving, two of the most expensive days to fly out of the year, if you can push travel to weekdays before or after thanksgiving, you can save a tremendous amount same for christmas this year. reporter: okay so that's good advice, travel on the non-peak days around thanksgiving and christmas. there are a number of factors contributing to these higher prices which we've talked a lot about because prices were high in the summer as well, to your point. the cost of jet fuel is up more than 50% so far this year. staffing shortages that cause those mass delays and cancellations over the summer are still plaguing the airline industry. there are worries especially from the airline unions there could be more mass delays and cancellations this winter. the airlines are trying to deal with those problems by flying fewer routes but the bottom line is, david, demand is still extremely high for a lot of people traveling this thanksgiving and christmas. it'll be the first time they are getting on a plane since the

start of the pandemic. david: grady, before you go, you've got to give us some good news. is there any relief in sight? reporter: yes, because of the way demand ebbs and flows, you know, during the summertime, it peaks during the holidays it peaks, during january and february, ticket prices usually go down, so the good news is starting potentially as soon as january 1, if you got some trips you're looking for in 2023 , you might be able to buy those tickets at a good discount in january and february. david: well those of us to the north snow birds we may want to go down to texas or florida that's when we can do it. we left with good news thank you , grady. appreciate it. well, new threats out of china coming up, president xi's strong words for taiwan, that's next. flexshares etfs are built with advanced modeling.

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just take the xfinity mobile savings challenge today to see how much you can save. millions have made the switch from the big three to the best kept secret in wireless: xfinity mobile. that means millions are saving hundreds a year with the fastest mobile service. and now, introducing, the best price for two lines of unlimited. just $30 per line. there are millions of happy campers out there. and this is the perfect time to join them... add a line to your existing plan, or see for yourself how easy it is to save by talking to our helpful switch squad at your local xfinity store today. david: well, president biden's national security strategy final ly released by the white house after months of delay, the plan prioritizing both china and russia, both considered a threat to the united states. fox news national security correspondent jennifer griffin is live from the pentagon with

more. hi, jennifer. reporter: hi, david. well the new national security strategy calls out autocrats trying to undermine democracy and export repression and coercion. "russia poses an immediate threat to the free and open international system. the prc, people's republic of china, by contrast is the only competitor with both intent to reshape the international order and increasingly the economic diplomatic military and technological power to advance that objective." at the communist party congress in beijing, where president xi is expected to be handed a third term potentially setting him up as president for life, xi reiterated in a speech sunday, china's intent to overtake taiwan where most of the world's semiconductor chips are manufactured. >> the resolution of the taiwan issue is a matter for the chinese ourselves to decide. we insist on striving for the prospect of peaceful re unit with the greatest

sincerity and with the greatest effort; however, we are not committed to abandoning the use of force and we reserve the option of taking all necessary measures. reporter: the u.s. has spent $18.2 billion in security assistance to ukraine since january 2021. it's fighting a direct weapon less war with china at the same time, firing a major shot ink across bow two weeks ago with export controls on high end semiconductors that is upending the chinese market. national security advisor jake sullivan said china is learning from russia's war in ukraine. >> putin is making reckless nuclear threats, violating the u.n. charter, relentlessly targeting civilians acting with a brutality that threatens to drag us all back into the dark days of soviet expansionism. >> the most pressing issue right now is russia as it has invaded ukraine, but certainly

china is a thing that we, the united states of america, will focus on. reporter: frankly, the biden administration's 48-page national security strategy, david, sounds very similar to the trump adminitration's released in 2017, except that there's more focus on climate change as an existential threat in this document. david? david: jennifer very quickly there was a wall street general piece today. the u.s. is not ready to face china on the battlefield. i'm sure the dod is saying that they are ready. they wouldn't -- are there rumblings underneath you're getting word of they are worried about that? >> i think privately everyone i speak to both current and former national security top officials know that a war with china be extremely costly in terms of lives. the war games that have been carried out suggest tens of thousands of deaths in the first days of that war, so i think you can talk, this is not something you can talk about in terms of a

war without extreme extreme losses. david: jennifer thank you very much. well, china's xi-jinping sending a message as you just heard to taiwan saying his country will never renounce the right to use force over taiwan. former state department official christian widen joins me now. good to see you. the wall street journal phrased it in an editorial they wrote, the most important election in the world this year is no election at all. it's a corronation. that's essentially what's happening. what's the significance of the coronation of president xi? >> well it's submits its position, david, as the strong man, as the most powerful leader in china, since perhaps since pi ng, someone who will work his will without a whole lot of descent within the ccp, within the chinese communist party. this is someone determined to leave his mark on history and he's prioritized above economic

growth the strategic goals which include intimidating taiwan, which is de facto an independent , free nation, that is a democracy. david: and now you have this axis between china and russia like you have never seen before. one has to think back to world war ii when imperial japan and nazi germany got together and had that. is this as strong as that one, or is it weaker? >> i'd say it's stronger. i mean, the union of japan, the politicals or quasi-union of japan and nazi germany didn't really, there was no synergy not that that word existed at the time. if you look at the partnership of china and russia which is very scary. if you look at the key innovation of the second half of the cold war, the nixon opening to china it was separating the soviet union and china and dividing what was previously seen as this unitary communist world. the fact that we may not be in a situation where china and russia undermine u.s. dominance of the global finance that cooperate that you pipe russian

gas instead of exporting it to europe it just makes its way to china that means that china's energy supply becomes a lot more secure and a conflict currently it has to come through off of singapore which is easy for the u.s. navy to disrupt so a lot of downside in this condominium of yes, sir asian power. david: but obviously china is the biggest economic threat with such a huge country in terms of population and of course in terms of its economic relations with the rest of the world. is that going to change over the next couple of years? are we going to see these disengagements from china, by western companies? >> i think the answer is maybe. the biden administration has done some good. they haven't done away with trump era tariffs or export controls and they just extended some of the export controls on semiconductors as you mentioned however they gave waivers to the biggest semiconductors in the world, samsung in south korea and the type of strategic

disengagement that people like bob lighthizer of the u.s. trade representative and the trade talked about that's not one policy and one gripe i have with this national security strategy. you can read through it a couple of times and still not come away with a coherent idea or coherent strategy of how we are going to oppose china. david: now china does have some weaknesses. they have weaknesses with their economy, obviously, with upris ings in china itself, of course they can put those down pretty easily but for example, the average age in china is going way up. they are losing a lot of the younger people that you need to keep the economy going. what are some of the weaknesses and how might they play into all of this? >> well that's a very good point, david. partly because of their one child policy, which has been abandoned but which resulted in an excess of males and small families in a demographic crunch coming. china is no longer the most

populated nation on earth. that's now india depending on whose statistics you believe. growth is down. xi-jinping says he wants to dramatically increase per capita income within a decade. it's very hard to see that happening. the real estate crunch that they are in, potentially looks like the one that the united states went through in 2008 looked like child's play and this is where we might get a lucky break because they have a communist system, because rather than allocating capital based on principal itself, interest of individual investors instead they have bureaucrats allocating capital and a warped system and they have a tremendous real estate bubble and other signs of slowing, they have xi-jinping committed once again to a zero covid strategy that has really had their economy, and put a permanent or at least a very long term cloud over their recovery, so we might be at the point finally where china's economic growth model of steal ing our manufacturing and intellectual property is just not bearing the fruit it once did. david: finally we have to do

this quickly some of my libertarian friends say the inherent weakness will lead to their self-destruction so we shouldn't worry as much about it is there any truth to that? >> no, this is the funny part where libertarians and the neo conservatives believe in historical inevitibility. people have to make changes so if we continue to export our manufacturing including critical things like pharmaceuticals to china they will perpetuate that system. people have to cause problems for the chinese communist party. david: very good point, christian whiten, great to see you thank you very much. taking a look at lyft, the rideshare company lyft hiking its service fee as insurance costs rise. the company says the fee will cover operating costs and safety measures. the service fee went up by an average of $0.60. more "coast to coast" right after this. ♪ ♪

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david: well you could be a debbie-downer but not with these numbers. markets are looking great. the nasdaq is near the session high at 3 1/2% plus. it's a good day to toss to charles payne. he has it all covered. hey, charles. stuart: a great day, david to be tossed. thank you very much. david: you got it.