♪. ashley: all right, earlier we asked you which website debuted on valentine's day back in 2005? facebook, youtube, twitter, myspace. lauren what say you? >> facebook? ashley: facebook, yeah, that is not bad. i was going with twitter. but you know what, i think we're both wrong. let's have a look. the answer is, youtube. i feel it has been around long every than that. i've done everything i can. lauren has done so much more. that is i h it for "varney & company." "coast to coast" starts right now. neil: ♪ neil: think about it, u.s. jets downed four objects in the last eight days. the alaskan governor mike dunleavy wants a heads up when that will happen.

he doesn't always get it but he is here. jennifer griffin has the latest from the pentagon. >> reporter: neil, china's foreign minister accused u.s. flying altitude balance across its airspace 10 times since 2022. spokesman for the national security council say those accusations are patently false. china is operating spy balloons over 40 countries across five continents. u.s. military the recovery team have not been able to reach the high altitude object shot down off alaska's coast friday due to subzero arctic weather conditions. h a seen sore just official says it could be sometime geoff we get access where it was shot done. the spokesman i said the three objects were shot down because they were flying much lower than the chinese spy balloon, closer to 20,000 feet. they could have threatened civilian aircraft. the first object shot down

sunday first popped up over montana not far from u.s. sensitive missile bases on saturday. it disappeared and reappeared over michigan and was shot down by an f-16 over like huron. norad was asked whether they were weather balloons. >> we're not categorizing them as balloons. these are objection. i'm not able to categorize how they stay i lost. i'm not tracking any other objects at this point. that doesn't mean there could be more at some point in the future. >> reporter: the u.s. warplanes sent up to observe the objects before they were shot down were flying too past the object to make a positive identification and gave conflicting descriptions. the reason u.s. radar systems are now picking up these objects is that the u.s. homeland defense adjusted its radar in the wake of chinese spy balloon, widening the aperture. it was explained to us by

general vanherk they adjusted some gates to give them better fidelity seeing smaller objects. that is why they are seeing, they can filter out by altitude, they are making more adjustments so they see more of what is flying in that 20,000 to 60,000 range. that's why you're seeing more blips on the radar. that's why the u.s. norad decided to take down these objects over the weekend. over six to 8,000 high altitude balloons are in the skies around the world each day. the u.s. military checked with nasa, noah, google earth, amazon, others to see if the objects were their balloons before shooting them. there is no evidence they came from china as of yet. neil? neil: so on that, jennifer, if no country is taking ownership of these last three objects, whatever you want to call them, that were shot down, that tends to create all of this sinister suspicious talk that there is something else because the country would probably say, hey,

you just shot down our object, but what are you hearing? >> reporter: i think right now, what we've learned, in the last week, i think about the number of balloons in the air is that these could have been research balloons. they could be from academic institutions. they could be private citizens who put balloons up in the air. these were much smaller balloons than the chinese spy craft that was at 60,000 feet and was carrying equipment the equivalent of three buses in size. this was more the size of a car and so i think there's just, there is just a lot that is not known but again now that the radar is sort of rammed up and focused on this bandwidth of altitude they're going to be seeing a lot more. you could be seeing more things getting shot down. neil: got it. all right, jennifer, thank you for that. whatever is the case there is a criticism building of the white house they have been

forthcoming detailing this or saying anything pretty much about this. edward lawrence is there with more. edward. >> reporter: and those questions, neil, coming from both democrats and republicans as some of the machinery at the white house here moves behind me saying they want to know where this stuff is coming from. specifically the last three from over the weekend of the president silent on the matter so far. he was at church on sunday yesterday. reporters tried to ask him a question. he just waved. you see him there. this is where the four objects were shot down. we know about the first unidentified by the administration as a chinese spy airship. it floated over sensitive sites for three days. jennifer said the much smaller shot down quickly, one over canada, two over u.s. borders. >> i'm hoping these balloon episodes are a wake-up call for the country to the spying that has been going on, a tidal wave of it for years in our university, our tech sector, our

research labs, our businesses through cyber. they have stolen their way to the top. >> reporter: you heard jennifer say today that the chinese foreign ministry spokesperson accused of the u.s. sending 10 high altitude airships over china. u.s. fired back this is the latest example of china doing damage control, administration officials were out. listen to this. >> not true. not doing it. absolutely not true. >> the u.s., let me push you a little further then. the u.s. is not using these balloon technologies at all over china? >> that is right. we are not flying balloons over china, that is absolutely true. >> reporter: again members of congress say they have not been briefed by the last three incidents that happened. we would like to see more transparency we're hearing from the congress from the white house. back to you. neil: i want to go to alaska governor mike dunleavy, he is very concerned about the notification he gets, the heads up he gets particularly this one

shot over 40,000 feet in the air over the skies of alaska. the governor is with us now. governor, were you given a heads in that particular case? >> no, not really. our national guard was contacted and this was being followed obviously our u.s. military experts and then our nag guard but this object apparently was floating our way obviously for some time. we had, we had planes diverted, i believe it was thursday, friday, so that it would be out of the airspace of this thing until it was ascertained what this was and no, actually we're still trying to figure out what it was. more importantly what was its payload? i think that is the bigger question people should be asking. neil: a lot of people seized on the fact this was quickly shot down unlike the balloon passed over your skies, got into canada, over the united states, fully into the continental united states before being shot down over the atlantic right east of the carolinas but this

one was quickly shot down we're told because it was flying roughly the same altitude commercial jets fly. could do you buy that? >> certainly commercial jets fly at that altitude. i'll glad it was shot down quickly. we're two miles from russian territory, two miles separate us, 50 miles from the mainland. we don't get much of a warning on anything. we have russians intruding our airspace on consistent basis. the issue more what the payload is. we still don't know what that is and we're concerned this may be a low-tech way of delivering a certain type of payload. alaska would be the first obviously because we are the furthest western state in the united states to potentially feel the effects of this. so this is concerning. we have a very good military presence up here in terms of air force and army but nonetheless this i think, this is catching everyone by surprise. why are these balloons coming?

why didn't we know before and again what is their payload? neil: the one that was shot down over canadian skies or at least had gotten into canadian airspace we're told prime minister trudeau okayed that shootdown. maybe you can explain to me norad or norad-related rules in the event like this. you're governor of a largest physical state in the country this would be affected and affected by all of this. tell us. >> we have a very tight relationship with the canadians through norad. we have joint operations with the canadians. we act as one when it comes to situations like this, but nonetheless, when that balloon floated we think it was a balloon floated into canadian airspace of course the authorities in canada, the prime minister are an integral part of what the decision making will be on that but nonetheless of i believe that particular balloon was shot down by an american

aircraft, flown by an american under the the norad and canadian authorities. i'm not sure what type of notice they got as well. this is an issue we confronted for same time, frankly the existence of our state and the cold war. we're not sure, we're not sure if this is a russian vehicle, a balloon, a chinese, or as was stated on your program, some other type of balloon but nonetheless i keep going back to the payload. i think that that is the question, was it a spy balloon, research balloon or some other type of balloon may have been trying to figure out how to deliver or carry payloads over north america. neil: sounds like you don't get the heads up you think a governor of a state affected by this or whose skies were part of this from the white house. >> no. neil: we mentioned that, governor, to follow up on that point we only found out about

this ourselves, the american people because it was a question that accidentally came up 11 minutes into a briefing last friday. otherwise i doubt it would have been known or shared at all. we haven't found out from the white house about these incidents certainly since. what do you make of that? >> quite frankly i don't know if the vehicles, these balance are coming to our u.s. intelligence as a complete surprise and they're just holding back information for a whole host of reasons, or, they, they just are simply not notifying us in a timely manner. but we, you know, we would appreciate a head's up. we want to be prepared for what is coming over our airspace of our great space so we'll continue to try to work with this administration to firm up our communications. often times there are a lot of things we're not aware of until it occurs. neil: i'm happy that everyone is safe for the time-being but,

governor, thank you for sharing all of this with us. it is unusual to put it mildly. governor mike dunleavy from the state of the alaska. there are a lot of battles between our country and china. china is saying up to 10 balloons have been launched by the u.s. over the skies of china and we have denied that, but be that as it may the friction seems to be building on what is next for our relationship. i'm not talking about our military relationship, our economic one. as a lot of chinese issues take it on the chin amid talk of u.s. boycotts, now china responding tit-for-tat. what is at stake and who is at stake, after this. ♪.

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♪. neil: all right. let the punishments begin. the u.s. has already targeted as you know six chinese companies that it says were supporting this spy balloon technology. more could come. the chinese are tolling up with responses potential sri of their own might be as soon as this week. we realized very, very quickly

how much we depent on each other, sometimes our country more on china than china more on us. connell mcshane has more now. >> reporter: neil, that dependence is in place even with the political tensions reaching what you could argue a all-time high. you wouldn't know how high the political tensions are if you looked at economics, just focused on numbers. more than $690 billion in bilateral trade last year, a record high between the two countries. the u.s. still only trades more with canada and mexico. it is a reminder, our economies are indeed are still tied together with american consumers buying cheap chinese products and the chinese holding up their end. >> it is amazing to me how the chinese consumers have a preference for u.s. goods. if you're selling coca-cola or if you're a marriott hotels, or if you're ford you're having a great year in china. there is just a appetite, and they like, the chinese consumer

likes same thing about the goods that we like. >> reporter: now at the same time there is a continue ited push now from washington to cut down on beijing's access say to sensitive chip technology. also make the u.s. less reliant overall on china for merchandise eventually. that kind of thing might start to show up in these trade figures. >> 10 years from now you will see supply chains, american supply childrens look very different than they look now. they will be shorter, they will be more regional. they will be more diversified. people are not necessarily going to leave china. decoupling is not the best word. they will set up alternative sources of supply. >> reporter: now india, vietnam, indonesia, could be among the alternative sources of supply that those countries could benefit on a relative basis over time for this kind of change but again, any hope of just decoupling from china in the near term that seems to be nothing more than a pipe-dream at least so far, neil. we're still very reliant.

neil: still very reliant and not going away soon. thankthank you, connell mcshane, chief national correspondent. i want to get ray wang, constellation research ceo. ray, technology is looking attractive, still is, despite all this on the notion that china is reopening, zero tolerance covid policy was stopping and they were sort of reintroducing them to the world. good for tesla, good for apple, good for microsoft, good for all the companies that do business in china, depend on china and then something like this, punishing sighting six chinese companies behind technology of this balloon and china promising to return tit-for-tat. where do you think this is going? >> we're in a moose sieve escalation at the moment -- massive escalation. i think that will only continue. trump tax tariffs are still there. we have other restrictions put in on chip manufacturing technology. a bunch of of countries signed a

coalition to do that. we have seen the impact. imports from china are down from 22% to 18%. the rest of the world imports are up because of that. in the tech industry, u.s. semiconductor companies have been hit hard. we've seen some impacts on companies like apple and es tesla because of china. they have been able to skirt around a lot of these issues especially comes to laptops, electronics, higher end goods. the challenge if we keep going at this rate i think we'll see more decoupling over time. neil: how does that affect technology invests, our u.s. markets, how do you see it? >> yeah. so the challenge is right now none of the chinese companies will be able to list on u.s. exchanges and because they will not list on u.s. exchanges the flow of capital will be constrained. we still have a big ipo market that will probably come back in the second half of the year. ipo transactions will be impacted. the china will build on their own capabilities and try to

decouple from the u.s. in critical areas such as chip technologies. they're starting to export cars, export airspace technologies as well. i think we'll see that kind of war start to continue. for u.s. companies i think it is going to be a market that may have to lose. we may lose the china market in the long run for u.s.-based companies if they start the bans. neil: you know i noticed that some companies, apple, chief among them, ray, sort of tried to hedge their bets by expanding in the reek region. you hear talk of expanding in thailand, vietnam, what have you. china is really the epicenter at least for global sales of this stuff and the stuff that goes into this stuff. if things really get frozen between our two countries there could be a domino effect, couldn't there? >> yeah, there definitely is going to be a domino effect if we're not careful. p cans like tesla invested heavily with the plants and battery, as well as manufacturing capabilities.

you notice their investments are outside of china. we've seen that. apple is trying to move production out to vietnam and indonesia of the it is a very hard thing to do. supply chains are inter2009ed with machine tools and companies there you just can't pull out just like that. we'll see redundancy in supply chains and prices will go up for electronics and other goods over time. neil: we'll see what happens. always good catching up with you, ray wang. talking about technology, is there any concern about this or in the general markets we're not seeing it today. maybe the expectation is that cooler heads will prevail. maybe the fact some of these latest shootdowns don't necessarily come from china or this is something bigger could mitigate this. that is just taking a leap there, but again they're is no impact on our markets, certainly for the time-being. more on the asian markets. a lot of people are saying since no country is owning up to some of the latest shootdowns or the stuff that was shot down, as we discussed earlier with jennifer

griffin because it could be some of maybe even our stuff that has not come to light but flying in a dangerous area, or, or, from out of this world, i mean from really out of this world. why ufo jitters are back and why in congress they're not dismissing that, after this. ♪. i count on personalized financial advice from my ameriprise advisor. she knows my goals and can help me reach them with confidence. the markets may fluctuate but you're still on track. more than 9 out of 10 clients are likely to recommend us. ameriprise financial. this isn't just freight. these aren't just shipments. they're promises. promises of all shapes and sizes. each, with a time and a place they've been promised to be. a promise is everything to old dominion, because it means everything to you.

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♪. president biden: if you're not asking me a mean one like you usually do. >> it is interesting something interesting i think. president obama says, that there is footage, and records of objects in the skies, these unidentified aerial phenomenon, and he says we don't know

exactly what they are. what do you think that it is? president biden: i would ask him again, thank you. [laughter] let's go. neil: no laughing, dismissing the notion that maybe these could be ufos, some extraterrestrial objects. no one is dismissing it like they were back then. chad pergram how the capitol is digesting all of this. >> reporter: neil, the administration is silent what it shot down over lake huron. the administration is coy what it knows or doesn't know about sunday's episode. that is the case about the object shot down in the yukon on friday? >> have you ruled out aliens, extraterrestrials, if so why? because that is what everyone asking us right now? >> i will let the intel community, counterintelligence community figure that out. i haven't ruled out anything at

this point. we continue to assess every threat, potential threat unknown that approaches north america with attempt to identify. >> reporter: lawmakers from both sides are upset at the lack of transparency from the administration about what these objects may be. it is bad if it is from space and bad if it is technology used by american adversaries which the u.s. is just learning about. >> two really interesting, not so great choices, right? other worldly or adversaries have something we don't know about. i don't know what. let's take a hard look. i think it reignites the conversation. >> reporter: congressman date the intelligence services and military begin to document unidentified area pa mom that uaps. it accounted for 510 uaps, 163 were balloons. the military look askew at pilots or airmen who claim to

see the unexplained. that is not the case anymore. >> you combine this openness put forward, the acceptance such things exist, the question now identify. i would add social media. people are willing to post and discuss these issues. >> reporter: the house intelligence committee held its first hearing on ufos in more than five decades last year. americans want to know if the objects are from china, russia or outer space. neil? neil: thank you for that, chad, chad pergram on all of that. kash patel joins us right now. he is the former department of defense chief of staff, served under president trump. if you don't mind i just want to ask you directly, during the trump administration was there a concern about these ufos or the possibility of ufos? where the norad commander just said over the weekend he doesn't rule out aliens in all of these, so far under identified and

unexplained objects, he doesn't rule it in either but during the administration that you served, did this ever come up? >> hey, neil, it is great to be with you. thanks for having me back on. it came up countless times. again whatever is intruding american airspace from where and what the origination point was and most importantly what its purpose was. we left the ufo discussion to others. what we did in the department of defense and intel community was redirect any traffic that threatened or harmed american interests and we had detection bases set up which is why we came out so strongly condemning the biden administration saying oh, this happened during the trump administration. that is simply just not the case former director of national intelligence, myself, former secretary of defense saying these sorts of intrusions from the cpp specifically did not happen. neil: all right. ccp, the chinese communist party but let me ask you about that?

where are they getting that from, kash? you don't remember and other high intelligence officials which you worked among them don't remember anything like this but now there is a thought that it is possible they were the for ray over u.s. skies was so brief that no one told you guys about it? seems unfathomable to me but can you share how that process would go? >> yeah, absolutely. is it possible? of course. is it likely? no. anything like that, as a guy who was former deputy director of national intelligence and produced the presidential daily briefing which is the most sensitive intelligence collection efforts we prioritize matters pertaining to russia, china, terrorism, iran, et cetera and these are the countries that would nye objects like this or intension to do so to invade our territorial waters or landscapes. we pivoted as we called them hard targets. we believe we would have detected them as they had done so. our posture is different now.

i don't believe the incidents happened because adversaries we're talking about knew the consequences of such actions. that juxtaposition has to be kept in mind talking about the two administrations. this is not a biden or trump thing this is a united states national security thing. and this should be concerning for all citizens. neil: one of the things came up, not concerned through your administration, the trump administration, china's accusations that we launched, the united states at least 10 such objects, these balloons since the beginning of 2022. i believe the beginning of 2022. what do you think of that? >> well i'm not going to comment on specific information going back to my time in service but but i will tell you that our adversary in trump administration top three, russia, china, specifically ccp, iran and prk. we used a whole host of intelligence collection matters

to ascertain information that would be beneficial to protecting american national security interests. let's also keep in mind, there are negligible or what we call harmless causes for flying balloons and unidentified objects both over our country and others there are actual weather balloons we keep in mind exist. we know what those look like but when you examine the payloads of the systems apprehended specifically the first one that is not weather balloon mechanism or apparatus. keep in mind the ccp propaganda machine will say now that we caught them you did this to us. i will not comment whether we did this in the trump administration. whether or not the priority of our administrations align with the national security interests going forward and i will be the first to say we should be doing it to them. they have american, they want to harm american interests. we should be collecting on them. neil: so do you believe the administration, our administration, the biden administration says, no, this never has happened? >> i don't believe that.

i'm out of government so i'm away from the classified intelligence. do i believe we're not collecting on the ccp and russia? i don't believe that for one second. i hope he is wrong, if we're not collecting on them in this fashion it is a even greater intelligence gap we have to worry about from a national security perspective. neil: this would include balloons then? >> any sort of aerial object. you want to call it balloons, aircraft, submersible, land-capable objects. we have a whole host of things. we are the united states of america after all and we partner with great companies to make these, make equipment to collect. it is just a decision whether or not we're doing so. neil: yeah, and when it all started. kash patel, thank you, former department of defense chief of staff, former deputy director of national intelligence in the trump administration. we're following this closely, following protests worldwide particularly in france, having nothing to do with spy balloons. having everything to do with

adjusting pension retirement ages in france. macron wants to raise the retirement age from 62, to 64, phase it in over years, more than a decade. that didn't stop more than a million parisians to hit the streets, cumulatively, day after day in protest. what would happen in this country if there were similar adjustments. ♪. ...will remain radioactive for years to come. well, thank goodness. it's time for the "good news of the week." and, boy, do we need it. [ chuckles ] well, this safe driver saved money with the snapshot app from progressive. -how do you feel? -um, good? he's better than good. he got rewarded for driving safe and driving less.

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france. they sporadically pop up a number of times just over the last five years or so. the latest push by french president emannuel macron to deal with the pension system there where there are real serious financial stability issues. so he is saying why don't we try to address it now? raise the retirement age from 62, bring it up to 64, phase it in over years? and we'll have it in better shape. better than a million public workers over the course of the last five or six days have been protesting this move. it might all go away here but could that be a preview of coming attractions here even a slight ad mustment like that will be greeted with stuff like that now? tiana lowe with the "washington examiner." could that happen here, tiana? >> it absolutely could. the french situation is anomalous. macron is using all the

political capital to move retirement age from 62 to 64. rest of europe, 67. obviously here full retirement ben pits 67. we're seeing solvency crisis comes to us in a decade. once the solvency point hits, benefits across the board, regardless of income bracket will be lashed by 20, 25%. something really does have to give. in part that will involve the necessity of raising the retirement age as our life expectancy increases sadly in the u.s. it has stagnated but especially in france. we have developed countries with lower birthrates, you have much greater proportion of the elderly, especially the elderly who wind up retiring when they are not that elderly, needing to be funded by fewer workers, right? there is not a social security lockbox here. there is not a pension lockbox either in france. you need to make sure you don't have some people dependent on a shrinking number of workers.

neil: that is very well-put. that is exactly what is going on, tiana. if you think about it, when social security start in the 1930s under fdr, 16 workers were paying in for every retiree. now it is even money. that is not sustainable. we dealt with this before in the country, having ronald reagan, tip o'neill trying to prolong the shelf life of social security. they both made concessions, raising some of the social security related taxes, income level which they would apply raising retirement age, phasing in, still being phased in over years, but more needs to be done. i'm wondering what we have to look forward to here? the reality of this i don't think has dawned on a lot of people. >> no definitely, not, because raising the retirement age in the u.s. to0, that will only fill in about 10% of that insolvency shortfall, once that

ininsolvency hits in decade. there needs to be more contribution into the american system. neil, right now full 1/3 of americans ageses 5 to 59 are not employed. we have 1/3 of a healthy populace doesn't work, contributing into the system. you continue to have this problem. we're seeing this with massive labor shortages. it is easy for presidents, politicians of both parties to brag about low unemployment rate. is that a good thing with people retiring early, with birth rate not increasing but it is falling. the worker population will get smaller and more taxed. neil: not enough money is coming in for the money that has to go out. it is basic math. i always enjoy having you on, you speak english, clarify the problem with the washington examiner. brian brenberg follows this, many other issues on "the big money show." all i know i'm covered with

social security. you're much younger, and are not. thanks for paying into mine. >> neil, thank you very much for that. the at the top of the hour the white house briefing the press over multiple high altitude objects over the country and highs and lows of the super bowl with our friend jimmy failla. more "coast to coast"

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♪. neil: all right. more flying incidents right now including a particularly scary one. everyone survived but it is part of a pattern. some are calling it a nightmare flying pattern. what they're calling increasingly a "flightmare" pattern. i see what they did. maybe lauren simonetti came up with that term but it does apply here, lauren. what is the heck is going on now. >> reporter: i haven't flown lately, neil, don't think i want to. this is the latest incident, a delta plane flying from edinburgh to new york. as the passenger saw, fumes coming from the wing of the jest. then they described this lout banging noise they heard and felt the plane nosedive. turned out it was diverted minutes after takeoff for emergency landing in glascow. delta says there was mechanical issue. everybody was onboard at the

end. they they come being so calm preparing for a cash landing scenario. imagine that. this story even stranger, american airlines collided with a shuttle bus on the runt way of lax. the plane was being towed to a parking location. nobody was on it. the shuttle bus had people on it. it was ferrying them between terminals at lax. five people on the bus were hurt, four sent to the hospital. increasingly yeah, this year we've seen what, planes hits planes, planes hits buses, emergency landing, mass cancellations, lost luggage, huge demand and super high air fare. it makes total concerns. neil? neil: oh, i apologize, lauren. thank you very, very much. you had me riveted, you had me riveted. thank you very much lauren simonetti on that. another guy to have you riveted, jeff flock following up and down nature of oil prices, following

news russia was cutting back on supply, worries about inflation data in our country. something has folks concerned. what is the latest, jeff? >> reporter: i think my rivets are coming loose, neil, i'm not sure here but i can tell you the impact of that move in terms of russia cutting production limited impact. take a look at, first let's look at brenda because that is most interesting when it comes to russian oil. that bumped over the weekend or on friday when the announcement came out but now, pretty much flat. wti just went up a little bit, over $80 first time in a while but the impact has been minimal. you know, what the biden administration has done here, is, with the situation in russia and ukraine, saying hey, that makes a great case with the weaponization of oil by russia, that makes the best case for green energy. listen to secretary granholm just this morning. >> their december and january report that just came out

talking about the incredible acceleration of renewables as a result of the war because so many of these countries view now, because of how energy has been weaponized by russia, that this is a question of national security. that they have to develop their own resources. >> reporter: right now, neil, the reason for the russian cutback in production may be not so much weaponization because they're not making any money selling it. take a look at the numbers. urals oil pro russia, $50 a bear what they're getting for it. costs a lot to get out of the ground. that is 50% down from last year. impact on gasoline prices? well, at this point none. the average gallon of regular is is .41. that is down six cents? a week. up a little over the month but down over the year. here is the reason why, i just

want to leave you with this number, gasoline demand in the u.s., you look at the first week of february. it was 9.1 million barrels a day of gasoline demand last year. this year, with the same price of gas, 8.4 million barrels a day. that is a decline of abouthundred million barrels. now is that because of price? not really. could it be because people are buying electric vehicles and they're not buying gas anymore? just food for thought from me. sir. neil: you know it is weird. if you look at the job situation it dramatically improved a year ago at this time with the half million we picked up in the latest month so it does defy a little bit of expectations. we'll watch it,. great job as always, my friend, following the bouncing world of energy prices. meanwhile our markets, they're doing just fine right now. if they're worried about all the shootdowns of unidentified objects they have a funny way of showing it.mi

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calibrated to my unique hearing needs. now i enjoy every moment. the quiet ones and the loud ones. make a sound decision. call 1-800 miracle now, and book your free hearing evaluation. neil: we're getting word right now that secretary of state antony blinken could meet with his chinese counterpart at an upcoming munich security conference. you might recall last week, i think it was last week at this time, that defense secretary austin had called his counterpart in china to discuss the whole balloon thing, they wouldn't take the his call,

essentially hanging up on him. this meeting seems to be up at this moon ific security conference. we'll -- munich security conference. wonder what jonathan hoenig thinks of this this, so far there's morale impact. i mean, consider -- no real impact. to the say nothing of the two biggest military powers going at each other's throats, but the markets seem relatively okay so far -- the. >> u.s. markets, neil. neil: very good point. >> yeah, the chinese markets are actually down by about 4% in just the last month. this whole incident, neil, are reminds me of what happened in 2001 when an american plane went down in china, 24 crew members were detain thed, and, you know, the u.s. market fell about 28% over the next four weeks when that occurred. i think once the bullets start flying, it's terrible to say, but once, in effect, this becomes a hot war, a hot conflict, i think that's when you see u.s. markets decline.

at this pointst the diplomacy, and the fact that u.s. officials are meeting with their chinese counterparts helps diffuse the situation and one reason we're seeing a pop in the dow today. neil: you and i know from history cooler heads do not always prevail, so what if this gets out of control nasty in. >> already, neil, u.s. market has been done the last two weeks. we haven't seen that that in quite some time. my advice for investors is, as they say, enjoy the show, but mow what the exits are. we have hot spots all over the world right now, and the market kind of shoots and asks questions later. ironically, once there is some type of a hot topic, that tends to be the low of the entire move. markets sell off rather dramatically then come right back. it always goes back to this idea of what's your con educate. if the you are -- context. if you are that the long-term investor, it shouldn't make a difference. this is a tremendous sociopolitical type of conflict,

so if bullets start flying, we'll see the market react dramatically. neil: it is a little scary. we'll see what happens, but right now calm is the emphasis here. as you indicated, not necessarily so in asia, particularly china where those markets are a little bit more anxious. thank you, jonathan, very much. we're going to be exploring this issue at 4 p.m. eastern time the on my my fox news show, talking to mike turner, the chairman of the house intel committee, who's been very dissatisfied with the dripping nature of intelligence on this and what this administration knows and what it's willing to share. he'll be talking about that with us at 4 p.m. eastern i'm. in the mean i'm the, "the big money show" is right now. brian brenberg will tell you what they have coming up. brian: hello, everyone, i'm brian brenberg -- taylor: i'm taylor riggs -- jackie: and i'm jackie deangelis. welcome to "the big money show." ♪ ♪ brian: any minute now the white