tv Maria Bartiromos Wall Street FOX Business November 5, 2022 9:00am-9:30am EDT
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>> welcome to the program that analyzes the week that was in helps positioning for the week ahead. i'm david asman and for maria bartiromo. midterm momentum, it is the final stretch for election day in polls show republicans gaining ground on democrats freedom to be asking former white house deputy chief of staff karl rove what he is expecting on tuesday the outcome of the midterms will have a major impact on the economy the markets and your money. matson money founder mark matson on the advice is given his clients right now, big names coming out for kathy hochul in her fight to remain governor in new york the polls show lee zeldin is closing and with his focus on inflation and crime. it's been 20 years since new york had a republican governor with george pataki, the former governor is here to tell us why new york will go read it again. first the october jobs report shows economy added more jobs last month than expected. the unemployment is higher in wage growth is far from keeping up with the pace of inflation.
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inflation in the economy remain the number one issue for voters ahead of tuesday's midterm elections. days to go, president biden pivoted away from his attacks on republicans to try to sell what he says is a strong economy. >> economic growth is up, price inflation is down. we'll encompass up, gas prices are down. >> try to be no former white house deputy chief of staff and fox news contributor karl rove. thank you for being here first of all. we saw wall street journal poll that showed 71% of americans think were on the wrong track, particularly on the economy that's really the court of the election. >> at another pull 49% of the people said the economy is bad and only 14% said it was excellent or good. so yes the economy is a centerpiece with president biden goes on says is kind of things he sounds completely divorced from reality and undermines the credibility of democratic
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candidates. people get the reality of the economy, they go to the grocery store, philip the car to get close for the kids to go back to school for looking at the paycheck at the end of the month of looking at the stack of bills and the paycheck doesn't cover all the bills and they may not be able to say that we've had 18 months of declining real wages but they know something's going on and it's bad in there holding him responsible for. >> in 2010 was a tea party election because it was in the country republicans picked up 63 seats in that election in the wrong track at that time was a little lower than it is now. a lot of people are saying maybe were being too conservative and thinking the republicans are going to take with her taking. >> look each election is different, 2010 is very different from today. it's important for because of 2020 reading 2020 something weird happened one out of every five times when a party loses control of the white house it gained seats in the congress.
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nearly four out of five times if the control of the white house flips that party loses see in the congress. last time we lost the white house that one of out of every five times republicans picked up not only a couple of seats but annette the 14th seats. this is a 222 - 213 congress. democrats had a five vote margin. we already had a head start. if we have the average pickup in a midterm election is 28 seats. let's say we pick up 20 seats that puts us at 233, three more than the republicans had with newt gingrich became speaker in january of 1995. i think, i've been saying 20 20 - 25 and i'm thinking were 20 than 25, 95025 and 20 critical be larger than that because at the end the gravitational forces of the election all tend to work to the advantage of one party. in the selection poor economy and the bad job approval in a
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sense that he is out of touch and all of these things are helping the republican. >> again on the economy we saw good job number on friday. wages were up but there's still way behind inflation, that's really the important thing, the democrats don't seem to get they can't brag about wage growth when people go out and still think their salaries are not buying as much as they used to. >> it was entered was a good job number on friday, the other hand inside the businesses that these people working in think is a growing sense of the economy is slowing and in the future there will be job losses. some of it is from the headlines. elon musk says and get afire all these people at twitter but they feel it inside of their workplaces. i have a friend who has an investment committee that invested privately held generally family-owned businesses in the ceos of those businesses recently got together 17 virtually everyone said we're
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going to reduce employment none said were looking to gain. >> i want to talk about crime on the border. i link the two together because they're all about law and order that's the core of both issues. in unwillingness to enforce the laws that we have on the books. how big is this in the election in general and what are the other application about what is happening at the border. >> the closer you get to the board of the bigger of an issue it is it may not be important in washington state or maine but is still an issue because there observing it. nearly 2.4 million people came across the border illegally and were taken into custody by border patrol and then release. and that probably means anywhere from 600 - 900000 people came across the border and were never apprehended, we call them getaways. think about that we have communities along the border yuma, arizona, eagle pass texas for every month there were people that are released into the communities by the border patrol then live in the communities. part of it the hospitals have to provide care to the people who
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are sick uncompensated, the food kitchens are strained, the local resources or strength and then there's a lot of petty crime these people are desperate they need food, water and shelter and they're going to get whatever way they can you talk to the shares and the police chiefs on the border who were largely hispanic and overwhelmingly democrat and you will hear some of the most critics of this administrations policy. >> i going to ask you the president tried to change the message by focusing on donald trump again. and people who voted for him, the 74 million people who voted for him, it didn't have that demonic look of the one in philadelphia in september that it was still heavy on that comedy thing is going to get anywhere with that message? >> i don't. he makes a mistake by painting a broad brush, their people on january 6 who broke into the capital in tried to stop a constitutionally mandated
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meeting of both houses of congress. everyone of those people ought to be prosecuted. but to suggest and leave the impression this is all the republicans. the other thing that gets me let's attack election, i know who won that election, it was joe biden but remember joe biden was saved in his presidential campaign by an election denier jim clyburn stood up and said after the 2004 election that computers were used to change 120,000 votes from john kerry to george bush. an election denier made him president and he considered an election denier, stacey abrams to be his running mate. david: one of the coaches of the january 6 committee is an election denier, we could go on on that great to see you. minding your money ahead of the midterms money manager mar
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in 14 years and we are just days until the midterms where we are likely to see a shift in the balance of power in congress to the right. joining me maxson money founder and ceo mark matson, good to see you. it looks like the past couple weeks the market has been getting ahead of their prediction of a red sweep in the election some people are saying maybe it's too late to get into this rally, what do you think. >> i wishes talking to doctor artois for an academic board, we're talking about the election the odds are 90% republicans will take over the senate, the congress and about 60% of the figure for the senate it does look like a red wave. the question is what do investors do. we had a rally the last couple weeks, keep in mind facebook is down here today 70% in tesla and amazon down in the ballpark of 40%. when were looking at the average american in the looking at what we do for my portfolio and going forward the average american is
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down 30% in their 401k right now and inflation is up around 8.5% so there down in the ballpark of 40% of the real wealth, you have a lot of suffering, my message to investors coming up to the selection and past do not panic is never the right time to pan panic, don't let people or you situations and circumstances cause you to sell out of equities you have to be in equities but you have to diversify you can't be focused on s&p or the large tech stocks you need to own value stocks, small stocks and you need to diversify away from the large s&p 500 stocks and be long-term. david: a year ago met a had a market cap of a trillion dolla dollars, it lost 800 billion of that in the past year, again you cannot put all your eggs in one basket that is for sure markets do like and that's why they have been up recently they like a
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divided government they kind of like gridlock as long as that constrains big-money spenders and the government that is people who want to take more money from the private sector and give it to the government. what happens is that still doesn't happen. the present has a lot of power to do things with executive orders that spend a lot of money and switch money from the private sector to the government. if he uses that power could these investors be making a bad bet right now? >> that's the key that's what you need to diversify. if there is a red wave and they do take over even just the house it's good to be harder for him to push his socialist agenda and create more deficits. the key that were facing right now is inflation. inflation, inflation inflation. you can't run an economy with the most 10% inflation. what you do to reverse that number one you have to reverse taxes. have to make it easier for entrepreneurs and executives and
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ceos to create wealth and prosperity. you have to provide energy to this economy. without the inflation is not to go back down its not like it was with jimmy carter yet stocks lay around 12, 13% under jimmy carter yet massive recession but ronald reagan brought it around and maybe it's going to take or it took a jimmy carter to get to o'regan maybe it'll take biden to get to the next leader of our country that actually believes in free markets. in entrepreneurism and capitalism. the congress can put a good check on the president but as an investor you need to look at short-term high-quality fixed income for your quality you need to diversify naturally, don't invest in crypto currency there nothing but a bit is a sham and investors are getting hurt bad with that. david: you mentioned international the world is bracing for a worldwide recession right now. you look as bad as things are in
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this country many people can point to worse examples overseas whether europe or asia, is that something investors should be concerned about? >> investors, i talk about investors being cautiously optimistic about the future history is really clear on one thing. whenever we have tragic times they didn't come to say they came to pass. this is a mindset for investors. when everything is uncertain anything is possible. during world war ii when u.s. got brought into world war ii to the end. a horrific time for this country maybe the most terrific time for mankind and humankind on this planet the s&p actually made 12% per year until the end of the work. just because there's tragedy and bad things happening doesn't mean markets can go up in value their extremely resilient and don't bet against the markets, stay long-term with the equities. >> mark matson, great to see you, thank you very much we appreciate it.
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>> gives eldon wins he would be the first gop governor of new york since george pataki 20 years ago the former governor has been joining zeldin on the campaign trail and he joins me now, great to see you, thank you for being here we appreciate it. first of all hillary clinton tried it to suggest republicans are the ones who are soft on crime but democrats are the ones in control with the crime surges whether it's in cities, democrat run cities or democrat run states. >> absolutely all across the country you see and by the way she didn't point out the assaulter was an illegal alien and miserably not even tried to close the southern border and criminals, drugs violent gangs are crossing the southern border. one of the reasons why crime is out of control but in new york it's the worst it's been since i took office. it's a direct tribute to the
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failed policies of the left and treating criminals as victims instead of the innocent victims of crime as the people you have to protect. >> local is kind of making a mess of things the way hillary clinton did the other night talking about a conspiracy to talk about crime in your part of a conspiracy, during the debate that she had with lee zeldin she was talking about why he didn't know why crime is so important, she hasn't really been making a case that she could do a better job of what she has done for the past couple of years. >> basically what she's saying i very taken action is necessary to solve the problem. i don't think there's one person in new york state that believes that. every single day there is another horrible incident there was another one a jogger on a popular trail on the west side of manhattan hit over the head, raped in the morning and that person had been arrested 25 prior times.
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that's what it's like in new york today, you get arrested for a violent crime and you often on the street the same day. we are seeing case after case where people commit violent crimes after having been caught and released thousands of times. it is because the law and albany does not work and has to change, as eldon has said day one he's calling to change it, hogle is pretending that this is all a hoax. it is not israel which is why for the first time in 20 years of republican has a real chance to win and new york state. >> related to the crime issue, this is happening all over the country, is not just new york is the quality of life issue, you saw when you were governor and mayor giuliani was mayor of new york city that those two were connected. if you have a decline in the quality of life and you have people using the sidewalk as a bedroom and bathroom you can have an increase in crime, you can't really separate those two issues, can you?
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>> nodded all the administrations that is okay on the subway to not pay the turnstile jump. they learned it's okay to break the law so they break the law and assault people on the subway. it's just horrible the violence that we see now. we have a mentally ill homeless crisis as your mentioning you walk the streets of new york he can't help but see these people who are mentally ill and belong insecure treatment threatening others and diminishing the quality of life. new york needs to change. i think the people across the political spectrum, not just the republicans and conservatives but democrats know that new york needs to change which is why as eldon has a really chance next week. >> what's frustrating to people like me who have lived here through the different generations of political leaders, i moved here in the early 1980s. i saw a change i saw how you can
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turn around a horrific crime rate that we had in the late 1980s with the right policies, dealing with the quality of life issues, dealing with turnstile justice that let violent criminals out. we know what works but this particular administration, both governor and mayor answer the prosecutors are not doing what works. >> that's exactly right, that's a tragedy here it's not like we don't have an example you are correct when i took office new york was the most dangerous state in america think of that nobody realized that, new york is a safe place, my kids are moving there from around the country it was the most dangerous place in america when i took office. we changed all the laws, over 100 different criminal justice laws we change the judges and upheld the law and supported the police. now they did the exact opposite they went back to the policies that they tried before when we were so dangerous and become dangerous again. how stupid, forgive my emotion.
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>> there's no other word insane or stupid i don't think there's any other word. >> how stupid to do exactly what failed the last time and as you see the horrible incidents of people being victims of violent crime somehow the changes you made worked. one of the things. >> i'm sorry were running out of time i have to ask one final question there is an obstacle one of those obstacles is a lot of the great exodus of new yorkers who went down to florida because they couldn't take it anymore the high crime, the high tax rate the high regulations, that means fewer votes of people that might be sympathetic to his eldon is that going to be a factor in the selection. >> it is a factor new york is number one in the country of losing population to other states and a lot of them were disgusted with the crime and the taxes but i still think there are enough new yorkers who understand it is albany that is failing the people not the people failing so as eldon has a
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real chance. >> governor george pataki, great to see you, we appreciate coming in. my things to the former governor, don't go anywhere, i earn 3% cash back at drugstores with chase freedom unlimited. so i got cards for birthdays, holidays, graduations, i'm covered for everything. which reminds me, thank you for driving me to the drugstore. earn big time with chase freedom unlimited with no annual fee. how do you cashback? chase. make more of what's yours. [coughing] hi, susan. honey. yeah. i respect that. but that cough looks pretty bad. try this robitussin honey. the real honey you love, plus the powerful cough relief you need. mind if i root through your trash? robitussin. the only brand with real honeyand elderberry. ♪ ♪ wow, we're crunching tons of polygons here! what's going on? where's regina? hi, i'm ladonna. i invest in invesco qqq, a fund that gives me access to the nasdaq-100 innovations, like real time cgi. okay... yeah... oh. don't worry i got it!
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david: welcome back, maria has another big show in the works for next week. tune into wall street every friday at 7:00 p.m. and watch maria at 10:00 a.m. sunday morning on the fox news channel for "sunday morning futures", she has exclusive interviews this week from senator mike lee, herschel walker and congressional candidates monica de la cruz, that will do it for me, thank you for watching, have a wonderful weekend. ♪
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