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tv   Maria Bartiromos Wall Street  FOX Business  December 4, 2022 10:30am-11:00am EST

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would like outcoached held up pretty well during the great financial crisis because the price is $300. the person buying $2,000 purse does not mind trading down, the person who may be buying a lazzaro purse might safer of quality. jack: $300 is the cheap one. ben: a tiny industrial company the jump 50% after the be good earnings speak. orders are growing, the company is executing well and looks like more gains are ahead. jack: great ideas and thank you. to read more check this week's addition of barron.com and >> from the fox studios in new york city. this is "maria bartiromo wall street". >> happy weekend to all, welcome to the program that analyzes the week that was in helps position you for the week ahead.
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i am maria bartiromo. apple bowed to china limiting el cariso messaging app right before the nationwide protest abrupt in china. fox business caught up with apple ceo tim cook and asked w why. will play the tape and get reaction from senator marsha blackburn on this and shockingly reports of election interference by tiktok. then big concerns over the state of our military. the result of an alarming new study you need to hear. plus a wild week for markets, moving big on a better-than-expected november jobs report. the boxing group founder david bahnsen on where stocks and the federal reserve go from here. we are days away from the highly anticipated georgia senate runoff election. republican herschel walker going up against democratic incumbent raffaelraphael warnock and one e most contentious races in them in terms. herschel walker is here. first apple under fire for limiting access to the airdrop filesharing feature on its phones in china.
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in the weeks leading up to the massive protest. tim cook was meeting behind closed doors with lawmakers on capitol hill this week where our own hillary vaughn caught up with him. >> hi mr. cook to support the chinese people right to protest? if you have any reaction to the factory workers that were beaten and detained for protesting and covid lockdowns? do you regret restricting airdrop access the protesters used two evaded surveillance from the chinese government? do you think is problematic to do business with the communist chinese party when they suppress human rights? maria: well the ceo of apple not taking it, no answers from tim cook. joining me senator marsha blackburn from tennessee. it's great to have you this weekend. thank you for being here. you have done so much work in studying and trying to enforce the law in the face of the chinese communist party.
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what is your reaction to corporate america enabling the ccp to gain ground in the move by apple? >> it is very disappointing to see this move by apple. but it's really not surprising. we've been very frustrated with us-based companies that have continued to make products in the province with weaker slave labor. we also have been very frustrated with some who are not speaking out and supporting the chinese people as they are pushing against the government in this repressive regime. it would've been a good thing for tim cook to tell the ccp no, our phones are owned by these individuals, they have bought them with this feature, the future will remain on. that should've been the consistent neutral position of
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apple with the phones that are owned there. we no one away went in and cut off their communication on their devices at the behest of the ccp. it is troubling to think that apple may have received such a request and may have taken such an action. maria: that's really discouraging. we know that apple generated more than $74 billion in revenue in china in the last year. perhaps it doesn't want to affect the money. it's business in china so it followed what the ccp asked. this feature was used back in hong kong when the activists were on the ground in hong kong calling for freedom and calling for liberty and the ccp came in and started throwing down the national security law and throwing freedom fighters in jail, is that what the ccp was trying to stop this time around? >> you are right about that.
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there are a couple of important points. number one. companies should realize you're never going to end up making money under a repressive regime. so do not help them further their cause. they're going to end up taking your company in taking your profits. so don't go there with them. what you need is free people, free markets in order for your company to be able to make things work. when it comes to hong kong you have to look at the hong kong freedom fighters. when you look at how they thought and now you have people like jimmy lai that are getting ready to go into court to be convicted by the chinese communist party for doing what, having a newspaper. but there is the also the open technology fund that we have in the united states and this week we put effort into trying to see
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are they going to exercise opening the internet for the chinese people like they did in ukraine, like they did in cuba like they have done in other areas where people were trying to get the message out where they're trying to fight for their lives and fight for their freedom. that is what the fund is therefore. president trump did a good job of bolstering that. congressman mccaul and i ask have furthered this as has senator menendez and we need to open that space over china so these people have a way to communicate and get their message out. speed was an incredible apple had to respond that they wanted to take twitter off the app store and there is no conversation about taking tiktok off the app store. now we see and do report that
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china used tiktok to go after politicians ahead of the midterm elections. probably republican politicians last month. forbes is reporting tiktok accounts run by the propaganda arm of the chinese government unmask millions of followers and tens of millions of use of videos mostly criticizing republicans with no clear labels disclosing that they were actually coming from the chinese state controlled media. the ccp is playing the united states anyway it wants. it got its guy joe biden and their and now once again, there trying to interfere in elections. elon musk said twitter has interfered in elections. >> yes i'm so pleased elon musk is going to make these files and e-mails available so people can see the extent to which the biden administration, the biden campaign, the clinton campaign, the dnc were working with twitter because if they were doing it with twitter, facebook, snapchat, tiktok, all the rest of them. it has been the same platform.
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when it comes to tiktok, bear in mind the chinese communist party is a big shareholder invite dance which owns tiktok. the people that work for tiktok in the u.s. get a check from bytedance which is owned in large part by the chinese communist party. they have a goal. it is to take down the united states of america to be globally dominant. how do they do that, they need to have people in positions of power that are going to be friendly to the chinese communist party and not stand up and protect the people of china when they pushed back against a repressive regime. this is all part and parcel of their plan. they are building profiles love everybody that is on tiktok. they collect the data. they house the data. they manipulate the data so they
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can manipulate you. the big tech platforms are working with the democrat party in the democrat campaigns to control what you hear and see and say and think and thereby how you vote. maria: i know you've worked so much on big tech. set it a real quick before you go you set on senate arms services. there is a new study from the ronald reagan institute that says trust and confidence in our u.s. military international defense is slipping. half said woke practices are to blame others point to belittle his nation of leadership in fewer american say they're willing to serve. are you concerned that the military is getting too woke to recruit. >> we are very concerned about this. we are seeing the effects of it. this year the number of high school seniors that are applying to go to our military academy is lower then it is ever been. the number of recruits for the
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u.s. army, lower, 15000 troops short. next year they're going to be another 21000 troops short and the reason, i'm fighting this ridiculous vaccine mandate is because they are removing people who have chosen to serve in the military, who have raised their hand, taken an oath to protect and defend and they are saying well if you want take the shot we are going to fire you. even though the pandemic is over and it's not a vaccine like mumps, measles, rubella, smallpox, typhoid, those things. this is something that is going to be a seasonal shot like the flu shot. maria: alright senator, great to get your thoughts on that. thank you so much for being here this weekend. more jobs added to the economy
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only pay for what you need. ♪liberty. liberty. liberty. liberty.♪ maria: welcome back tears were markets ended the week after we saw a better-than-expected november jobs report on friday. the economy added in 263,000 jobs in last month much more than expected the employment rate holding steady at 3.7% markets moving big on the news joining the boston group managing partner david bahnsen. great to see you thank you so much for being here. we've been watching the economy slow down but nobody told the jobs market that yet. how would you assessment november numbers. >> i think that's been the story all year of a conflicting
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economic message out of the jobs market and other elements of the economy. i just happened to totally disagree with all the commentary that jobs are bad for the economy. i happen to disagree with the commentary that wages are bad for the economy or they are necessarily inflationary. i don't agree with the phillips curve in the trade-off between employment and inflation i think is ridiculous. to me if the fed really did believe people having jobs causes inflation then of course they're going to want to tighten further but i don't think that's what's going to happen. i think powell said on wednesday the ready to slow down a a little bit. as much as they talk to really tough talk and tighten more than it many people including myself out that they would. i don't believe they really want to break something and they are on the verge of breaking something. maria: the federal reserve raising rates aggressively. now suggesting that maybe the next meeting on december 13 and
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14th will be a smaller rate hike, 50 basis points with the market seem to question that when the numbers came out because of what you mentioned the wages, the wages of 5.1% year-over-year still below the inflation number which is 7.7%. the fed chairman is watching wages and wages are going up you said just a 24% raise for the real workers in this contract that congress signed the president signed into law. what are your thoughts in terms of the wage issue and the bridges of patient rate issue. 62.1 participation rate, shouldn't that be higher? >> it should be the second issue is very different. i believe the labor participation rate is one of the primary cultural issues so i don't know economic that were dealing with. i don't like the idea that there's somebody young people waiting to enter the workforce and so many middle age leaving the workforce so the fact that
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were about three and half million maybe 4 million jobs or people looking for jobs less then we would be trend wise since covid is a very negative statistic. when it comes to the wage growth issue i simply don't believe that right now we are seeing higher wages lead and create more inflation. i think there is downward pressure on inflation and i don't think the fed has anything to do with it. i think various elements of the supply chain have naturally and organically improved. the inflation rate still shows higher because the housing impact has a huge lag effect but nobody in the right mind really believes that written housing prices are still going higher. they are coming down and i think you're coming down quickly so the data will get trapped into the cpi number in the months ahead in the fed is in danger of
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upsetting people now instead of wind inflationary issues upsetting them with recessionary issues and that's the element they're going to go into 2023. maria: the bottom line is the macro story given the numbers that we saw in november are you still expecting an economy to weaken and potentially hit recession in 2023? >> yes. i think all three things are true at once we will have a weakening economy will end up being a recession markets could very well go higher. how is the third one possible with the other two because the markets have been pricing in the realities all year long. they had to purge out the access in the silly stuff they got killed in the markets overpriced low-quality things have already gotten directly moment. i think next year what were going to see if the recession proves not to be super deep as possible markets look right through it. it's way to be more severe you could end up with a new element for markets to deal with.
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right now even with the response that we've seen to the jobs report and so forth. the markets are up thousands of points from where they were four or five weeks ago and bond yields have come way down. maria: is a great point, good to is it possible the only thought that comes to mind is... ♪ finally? this is financial security. and lincoln financial solutions will help you get there. as you plan, protect and retire. ♪
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>> he's been standing up for democracy, he has been protecting a woman's right to determine her own destiny. warnock is a horse. bringing out the big guns wit ds
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for the highly anticipated georgia runoff election this upcoming tuesday. enthusiasm is high the state broke the one day early voting record with more than 300,000 alone to new pulling from emerson college in the hill. warnock is leading his republican opponent herschel walker by a slim two percentage points, herschel walker is joining me now to talk more about the race. herschel here we are days away from the big day how would you assess the race what are you feeling going into tuesday? >> i feel pretty good. in the early race they felt they were going to get a big lead and blowing their way and now they don't have the lead they expected to have. so come election to and want people to get out and vote and if people haven't voted early
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make sure you voted early but get out and vote by december the sixth and let's change georgia the way we can get them done is elected me to the senate raphael warnock has proved is not for georgia is for california and new york. they are to have senators they don't need another one. maria: tell me where you stand on the important issues versus where warnock stands? >> one of the places i stand we have to be energy independent again. they wage war on domestic energy. that is a national security problem because right now we can do things underneath our feet but they try to pretend this is a new normal and there's other people that could do a better. no they can't they're going to dictators and people that are our enemies and chant death to america. they don't know the definition of a dictator. it can be done right here. we have to get rid of the regulations that they put on our energy companies in the regulation that they put on the small businesses.
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i think that will open up a lot of things and create wealth within america. that's what we gotta get going creating wealth in america and at the same time bring unity between our law enforcement and the citizens. because the guy running against called him names and he hasn't apologize for that. but yet there's a lot of crime on the street. it is sad you don't want your mother or your wife or anyone to walk on the streets at night because it's unsafe. that's not a country i want us to live in. that's not the country and get a lettuce living. this is done in less than two short years. the open border he voted for men and women sports, the things that they have done in two short years and they're asking for six more years, i'm not sure we can put up with. maria: what did you make with what obama said about warnock and what is warnock focused on. is he focused on issues? >> one he's never been focused on the issue since you spend
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running. all these been doing this spending money he feels that he can buy the seat and sat former president obama who's lost twice in georgia his back here again talking about warnock folk enter focusing on the issue but he never talked about the issues. i reckon obama should talk about the issues for him. if he wants to run in georgia he needs to run in georgia because he is not doing goodbye georgia. raven warnock senator warnock did a terrible job as a senator for georgia and this is georgia people seat, it's time for him to go that was the reason i decided to run because he wanted to separate people because of race. if you look at the bills he tried to pass most of them knocked on because of discrimination because all he wanted to do was talk about race when yet he's in a church of a man talked about not the color of your skin but the content of your character. maria: will to be watching it all thank you for being here ♪ at prudential we think you should say it when things go right too. like, when you score your dream job. sell your business.
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mama. maria: welcome back one important thing you need to know ahead of next week.
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opec plus holding a key meeting this weekend beginning sunday goldman sachs is predicting a high probability that the group will cut oil production again and likely to send oil prices higher on monday. we will be following it on "mornings with maria" next week it could be a market mover. i'll see you on "sunday morning futures" on 10:00 a.m. eastern on the fox news channel join me live five interviews with house minority leader kevin mccarthy, house oversight and reform ranking member james comer, wisconsin senator ron johnson and former secretary of state mike pompeo on "sunday morning futures" on fox news channel 10:00 a.m. eastern. that will do it for us on fo business. thank you so much for being with me. i will see you next time. ♪ ♪ ♪

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