tv Cavuto Coast to Coast FOX Business March 30, 2023 12:00pm-1:00pm EDT
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stuart: thursday day trivia question how much did model t ford cost in 1908. you first, ash. >> all right, let's look at those choices. number two, 520 bucks. >> so will i because 100 bucks seals so cheap in 1908. the answer is, $850. that would be worth of the equivalent of about 28,000 bucks today now you know. send in "friday feedback" varney viewers.com. my time is absolutely up but now.st to coast" starts, right
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>> what a a you view. this is spectacular. >> i see it from here. this is very nice. >> you say dr. richard thorn dike, one of the world's greatest psychiatric authorities is suffering from high anxiety? [screaming] neil: what a great movie. what a great theme, playing off hitchcock, all that fear and all that anxiety. anyway, today, fear, smesar wall street has funny way of showing it. no longer showing much fear. lately zero fear. volatility index, better known as the vix, investors are no longer thinking about cashing out of banks checking out not happening yet. robert kiyosaki is here to say not so fast guys. the rich dad poor dad legend, don't let the vix make you think we're out of this vix. who knew the irs made house calls. that ill-timed one to matt
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taibbi, surprised a lot of lawmakers. that annoyed a former commissioner himself, mark everson. that musk says whole artificial intelligence thing we should pause it or we regret it. the person who signed the letter with the world's richest man. he has reasons and worries. he will share them today. neil cavuto, and ignore the young staff not knowing mel brooks. this is positive month for the markets as well. along comes our friend, robert kiyosaki here to say march might be going out like a buying lion, doesn't mean april will come in like one or minimum finish the same way. robert, you're not buying this comeback, are you? >> no, neil. you've been in my corner all these years this is trash they
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will print more of this, which makes it worse. that is the problem. so we'll present more. i'm concerned. 6040 thing, 60% stocks, 40% bonds, the problem is the bond market. that is my concern. neil: for those only listen on radio right now, on better was holding up a cnbc mug saying it was trash. no. he was referring to currency, the dollar. you don't think that is the future, right? that's the problem and you've been saying all right, park it into something with some tangible value. so break that down what you like? >> well i don't like to invest anything they can print. they can print this here. so i stay away from anything like that. i've been on your program for years. this here is a kennedy half dollar, 1964. it is worth $10 today because it was pure silver back then. also in '64 went from silver
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certificate to a federal reserve note. most people don't know what that means. that means they can print as much as they like to pay your bills. that would be like you paying your bills just like writing bad checks. we go to jail for what the fed and treasury are doing. neil: let me ask you a little bit about that. a lot of people waiting for their ship to come in with precious metals, gold, and silver, they're percolating of late. gold teasing the 2,000-dollar level, had a great year but it never seems to last or of late it never seems to last. why are you convinced this time will be different? >> well, because, i thank you all this time i talked about lehman brothers when it crashed. neil: question you did. >> what is his name, swiss bank, deutsche bank, but the biggest bank that is going to go down is bank of japan, because the bank of japan carried interest rates zero, whatever they did,
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financed the derivatives markets and the derivatives market is what warren buffett said about the derivatives, they're weapons of mass financial destruction and derivatives market in the world today, financed by the bank of japan is a quadrillion. quadrillion. neil: you're a genius, robert, takes a lot for me to catch up with you, bank of japan is not like chase or wells fargo or citigroup, it is their central bank and japan had actually combination of their treasury as well. if that goes belly-up, i mean that is a huge deal. now, they have been dealing with zero rates and virtually no inflation, that seems to be ending. they kobe reversing that, but why is this such a doomful call? >> well because the bank of japan has been financing derivatives, a quadrillion, that is a thousand trillion,
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quadrillion is a thousand trillion. we have not seen the crash coming yet. that is why -- neil: doing this more than a decade, deck decade 1/2 and it hasn't happened. >> going on since 1944. we were reserve currency of the world. neil: this going on there in japan, it would have evidenced itself earlier, wouldn't it? >> well, takes awhile for san an andreas fault sits there the california falls into the ocean. i would rather not live on the san andreas fault is what i'm saying. neil: spell this out. you're not buying comeback, what everyone calls it in the markets, stablizing bank things. you don't we're over the bank problems, right? >> no. what people for years, since 2008 interest rates have been dropping, dropping, dropping. all of sudden interest rates are
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going up. powell has raised interest rates faster than anytime in history. somebody said he is playing volcker. volcker raised interest rates over years. powell is doing it over months. he is crushing it right now. i'm saying this idea of don't fight the fed all that, i think that is old advice. stick with gold and silver. this, 64 kennedy half dollar is worth $10 today because it is real silver. that is what i've been saying for years. you allowed me to say it. i've been chicken little or paul revere for all these years but i would still rather have gold than this stuff. neil: so when you look at what is happening now a lot of people say we dodged a lehman moment, we dodged a meltdown. you just think we put it off a little bit, is that the gist of what you're saying? >> the problem with americans as you know we live in a fishbowl. we can't see out, everybody can see in, right now brisks,
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brazil, china, rush sharks south africa saudi arabia will shift to the chinese gold yuan. that will send trillions of these things back to us. dilemma was we had to put all the money out there with petrodollar so they could buy oil and something of this, but china is coming after us, man. china is coming after us. jim rickards said it back, he calls it a currency war, a currency war. so that is why i'm very concerned. i appreciate all the time you give me to be chicken little or paul revere. neil: no, no you called a lot of things very accurately. i think people should hear what you have to say. we've tried just as we tried with every republican to get a democrat on this show and every bull to get a bear, everyone who loves stocks to contrast with someone like in your case who does not. let our viewers decide but your history, your record, your icon i can rich dad poor dad history
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warrants paying attention to you. robert, thank you very much. >> thank you very much. neil: all right. robert did mention a good point about all these rival currencies popping up. the latest one with china and brazil talking up with russia and china, separately. saudi arabia working with china, you see a pattern here with a basket of currencies in the case of some of these middle easten nations led by sudden saudi arabia working with china, alternative to the dollar. the feeling seems to be that will put pressure on the dollar if any of these, all of these succeed, then we're in for tough times. then it is high anxiety. not a movie that is pretty funny. it's nightmare. jeffrey klinetop on that, managing director, chief global investment strategist over at charles schwab. jeffrey, great to have you. what do you think what you were hearing from robert kiyosaki? >> well i think, in terms of how deep the economic downturn might go at least we can say so far so good.
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technical indicators of bank stress, repo rates, credit default swaps, bank borrowing from the fed discount dough are looking much better. practical sign, google searches for fdic insurance returned to near normal levels as deposit outflows are easing. so looks like the early signs of any kind of crisis further developing have faded but it's early and hard -- fallout from the bank stress. historically there has been one year lag between turning points in lending conditions by bank and actually we know lending drives the economy. we're watching things closely to see ultimately what the fallout may be. at least what the market reacting to here, not additional signs of concern not in the near term. neil: jeffrey, i want to pick your fine brain on another development. janet yellen, treasury secretary, regulators might need to tighten some rules in the wake of the bank collapse. i always remember that reagan
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line, i'm from the government i'm here to help. i take nothing against her or the government, if they're trying to fix something with more regulations we have quite a few there is, maybe they're not adhered to, maybe the reb regulators are the problem, not the regulations, i wonder what you think of that? >> a couple of things they outlined do make some sense. extending the stress tests and liquidity coverage ratios down to smaller, mid-tier, smaller banks. makes some sense in that kind of an environment. we see how quick it is to move money. when we used to think about bank runs during the great depression, 50's, '60s, '70s, there were lines out of bank. there took a while to have money move through each person. now we have it on our phones. that can happen most rapidly. neil: much worse than 15 years ago from the meltdown. that seemed like it was going at a hyperbolic rate. now almost the speed of light.
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how do you control that? >> yeah. well you can't necessarily control it but what you can do, make sure the smaller, mid-sized banks have more reserve and are tested against the 30-day outflow, hypothetical bank run what we do in these tests. by the way europe does this they do this all the way down to banks of 30 billion at assets. we stopped at 250 billion. we have svb, signature banks and a few others. smarter regulation, extenting regulations that exist to smaller, mid-sized banks will help shore up that system. neil: i wonder, jeffrey, sometimes the unintended consequences of a selloff, contagion, meltdown, fear building on fear built on nothing of substance makes the situation worse. i have already seen it since the silicon valley thing and signature problems. indirectly republic, where a lot of those bank depositors, not at these banks but at small and
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regional banks that had no such issues wandered began to move to big money center banks because they didn't want to take the risk. that slowed down, i understand, but what do you make of that? this can become a self-fulfilling sort of nightmare? >> it can. these are part of the animal spirits that can both drive things on the upside and drive them very quickly on the downside. one of the reasons why banks are subject to so much regulation. when you do see this type of capital flight which can happen now more rapidly than ever before and be sparked by simply rumors or something going around, people saying hey, is my money safe at a mid-sized, smaller sized bank? probably. but also at a larger bank, painless to move money in this day and age. we have to focus on that. we know mid, smaller sized banks are incredibly important to their community when it comes to lending. they cannot do that effectively without those deposits. really important to make sure
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that is regulated effectively. neil: you're not in the camp that says we don't nearly as many small, mid-sized banks, thousands of them, no need? >> i think many are very well-run in do a good job in lending. know communities very well, know businesses they lend to very effectively. neil: good seeing you. thank you so much. jeffrey klinetop, managing director, chief global strattist at charles sidewalk. want to go to connell mcshane, our chief national correspondent. sam bankman-fried more problems, more issues coming up, potentially more jail time. connell what is going on there? >> reporter: anytime you have to add bribing chinese government officials to a list of allegations you're already facing you're probably not having a very good day for yourself but such is life for sam bankman-fried here in new york. he pleaded not guilty short time ago to five new charges at all. these bribery allegations were among the charges. we saw him as he was making his
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way through the photographers into the courthouse in lower manhattan earlier today. becoming a semiregular occurrence last few months here in new york. we know he entered the not guilty plea once he was inside through his lawyer marc cohen. if you look at it. sbf is accused of paying a 40 million-dollar bribe to these chinese government officials. prosecutors say the purpose of the bribe so officials would unfreeze a billion dollars in crypto from his hedge fund. all together with everything else he is facing now a 13-count indictment stemming from the collapse of ftx his firm back in november. remember he already pleaded not guilty to eight federal crimes. the prosecutors added on four more last month. now the bribery charge. the judge in this case, lewis kaplan, agreed to new bail conditions, not spoken about in court, designed to make it for sbf to tamer with a witness or try to. issued a new cell phone. one old school flip phone.
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no ininternet on it. only text and calls nothing else. also has a laptop. not much functionalitity on the laptop. they have monitoring software on the laptop. he is not allowed to use any electronics his parent may have at his parent house under home confinement. sam bankman-fried leaving a short time same way he came in the courthouse. he is back to california where the home confinement continues for a number of months. he is still set to go on trial here in new york, facing 13 counts in federal court. could add up to to 160 years in prison if you add up all the counts. the trial starts in october. neil? neil: got it, connell, thank you for that, connell mcshane in lower manhattan. you heard what elon musk had to say about artificial intelligence, go slow, take a six month reprieve from this. this is dangerous stuff this is 2001 a space odyssey stuff, dare i say it, "high anxiety" stuff.
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taking over people that made it. suddenly rather than serve man. it is serving up man. what to make of grady trimble where they're debating this on capitol hill. >> reporter: let's hope "the terminator" is not prescient with the termination of artificial intelligence. that letter that elon musk and a bunch of tech leaders signed about artificial intelligence, if nothing else started a conversation here on the hill, really across the country, how to use this technology safely. the lawmakers we've spoken to, they seem open to regulating a.i. or at least talking about how to regulate it, but not exactly clear what those regulations might look like. congressman jay obernot is a computer engineer. he happens to be we're told the only member of congress with a master's degree in artificial intelligence. >> i have a couple of specific concerns. it has nothing to do with an army of evil robots taking over the world but i'm more concerned about first of all the creation
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of a surveillance state, potential benefits to society are certainly going to far outweigh the drawbacks. we need to keep in mind as we seek to establish a regulatory framework. >> reporter: maybe that will calm your terminator fears, neil. what lawmakers are not calling for is a six-month pause in the a.i. race. that is because they worry pumping the brakes would only give our adversary as chance to surpass us. >> we have to recognize china is going to weaponize a.i. russian is going to weaponize a.i. so we certainly need to be first in a.i. now the only question is will we be first but not abuse it the way some social media already has been abused? >> reporter: i found it interesting, neil, that congressman issa brought up social media because congress hasn't done a whole lot to regulate social media in the two decades that it's been around but maybe artificial intelligence will be different, especially after this warning from some of the brightest minds in science.
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neil? neil: thank you very much for that, grady trimble. gary marcus is with us, he was the gentleman i told you about signed on to this letter with the world's richest man, some others, not necessarily give up on artificial intelligence but let's take a pause. i hope, professor, i summed that up where you're coming from but what do you mean? what are you concerned about? >> what i'm concerned about? i think there is short-term and long-term risk. long term risk of misinformation at scale completely disrupting political process. huge risk of cybercrime. the europol put out a report many ways the systems might be used. there is long-term risk in the fact that we don't really know how to control these systems. the movie i think about a lot these days is jurassic park. just because we could, doesn't mean we should. that whole movie was about a phrase used a few minutes ago, unintended consequences. we have a huge numbers of
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unknowns here, unknowns unknowns. perfect storm of corporate irresponsibility, huge rapid deployment we've never seen before, hundreds of millions of people using these things, basically no regulation. nice congress is talking about it. there isn't really anything yet. all these things are coming together. it's perfect storm. neil: what happens, professor, if we slow down and pause but the chinese don't? >> first thing to say, the pause is only asking for pause on one very specific thing, that is building bigger versions of gpt-4. we already know gpt-4 has a lot of problems. it is unreliable, it is not particularly truthful. in a letter we say do other research to make the systems trustworthy. that will help us in the long run. we're not saying don't do a.i. not saying you can't play with gpt-4 or research a.i., this one thing we know will be fraught. hold off on a little while with that. the chinese if they're wise might do that themselves.
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i won't be so sure to assume, excuse me that they will rush to scale things up so fast either. they're already concerned about what they have got. neil: in "the terminator" movies, the bad guys are going full throttle with this stuff, whether it is wise or not. there is great wisdom there. with all seriousness, there are other applications or areas of this technology. for example, than discuss standard search engines that could be vastly expanded beyond what they're capable of doing now. is there such a thing as pursuing that or is it, you know, whatever you're doing on that front you can't be just a little bit pregnant? you are knee deep in something you shouldn't be? >> well, i don't know about your metaphor there but i would say there is a big dream now of having chat engines do search instead of getting web queries. neil: right. >> you get back a paragraph. the problem it doesn't work right now. nothing in the ban we're calling
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for prevents people from actually improving that process but i will give you an example. bard is one newest one. one used to write a biography of me on twitter. i looked at it. the central paragraph about a book i wrote. they got the title wrong. made up two quotes. they claim i talked about large models which didn't exist when i wrote the book. all over the map. got the gist of me. all of the facts wrong, the quotes wrong. the stuff doesn't really work. driverless cars, 2012, everybody like they will be here next week. 11 years later they're not. i think we'll see the same thing with chat style search. you can build a demo. whether you can make it to trust it is whole another thing. we could be working on that even if we do pause on gpt-5, so forth. neil: don't pay attention to the gary marcus "jurassic park" they're working on, right? foretime being go slow?
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>> that would be my argument. neil: thank you very much, professor. good seeing you on that. meantime is it coincidence or scary that the irs or an agent shows up at matt taibbi's doorstep the very same day he is testifying on capitol hill? the odds i'm told of that happening being coincidence are like 1.7 billion to one. all right, i made that up but they're really steep after this. ♪. mara, are you sure you don't want -to go bowling with us tonight? -yeah. no. there's my little marzipan! [ laughs ] oh, my daughter gives the best hugs! we're just passing through on our way to the jazz jamboree. [ imitates trumpet playing ] and we wanted to thank america's number-one motorcycle insurer
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underway. neil: all right, janet yellen, treasury secretary says news to her, matt taibbi same day he was to testify on capitol hill, might have been a couple came to his house very same day. the two didn't seem connected to her or irs behavior. mark everson would know the former irs commissioner under president george w. bush. alliance head now. commissioner, great to have you. what do you make of this? you would know what agent do, don't do, can or can't do, do they make house calls? >> well, neil, what you have here is an allegation of selective enforcement and anytime you have something like this it has got to be run to ground. it is true, there are unannounced visits that would take place in a criminal investigation or frankly in a collections matter where service thinks there is money that is owed. that doesn't seem to be the case here, at least, what the
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taxpayer said. seems to go back several years, identity theft, serious issues. to what has to happen here, neil it has to be run toe ground. i think the right thing to do is follow the precedent. you remember last summer when there were allegations that jim comey was improperly targeted for a research audit. they turned it over to the tax inspector general for treasury inspector general for tax administration to take a look at this. that won't take very long in this case. i think that is what should be done here to clear the air, if you will. i would just point out, in ally group we work with cpa firms all over the country and the service did a great job during the pandemic getting out the checks to people but it had real struggles with things like identity theft, selective matters that required hands on. so i'm not, i'm not convinced this isn't some sort of a real
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cock up. by the way the taxpayer himself indicated that he wasn't sure there was a problem here but certainly looked at. neil: one of the things that just struck me on this, commissioner, is that it was presumably to address this eye depthty theft issue dating back some years, i don't know how many years, 2017, 2008. >> right. neil: but is it procedure for irs to send you know, agents out to a home to tell someone this? i mean why can't that be in a letter? appears, there has been an identity theft connected connech your return or something like that? why go in person? >> i think that is what you're saying is probably what the normal cows is. i don't know why that would have taken place here and it should be looked at and should be looked at quickly. but let me say this the allegation was somebody there to intentionally there the day of the hearing, i don't they're
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that good oaf over there, not in my experience anyway. neil: i gotcha. this does serve as a good timing issue to raise with you, sir, about the big budget, the 80 billion-dollar increase in irs spending. the administration wants to hike that another 15% in its present budget. what do you think of that? >> that is really the issue, neil, for the long term here. it shows the stakes in place in terms of biden enforcement build, which is the biggest piece of the $80 billion. they have got to hire the right people and get them properly trained because there will be a great deal of scrutiny and properly so i would say over the coming years as whether that was done. i think you're probably familiar, there is a report that is going to the secretary any day now that is going to lay out
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how this $80 billion is spent. they obviously want to do more on the service side but let's go back to your segment. i'm particularly concerned about the i.t. monies. we're almost at the two-year mark since the "propublica" breach. so data security is a continuing concern at the service. and now what about the protocals, data analytics? what will we be doing with all of those billions of dollars on the system side? i don't want a more intrusive irs. i want a capable, fairly functioning irs. i would say this i think the new commissioner, i worked with danny werfel 20 years ago at omb. he is a straight-shooter. i think he is going to do everything he can to make sure they're delivering good services and fairly enforcing the law. neil: but it would be a problem if after this spending, commissioner, all the agents pop up at the home look like arnold
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schwarzenegger, the terminator? that that would be an issue. >> i would have an issue with that, neil. it has to be done carefully. already you see the administration, they have been scaling back, you mentioned the budget for this year, they don't show a very real significant increase, if you will in enforcement side. there is shortage of accounting majors across the country right now. the cpa firms work with at alliant group are having difficulty filling jobs. so that will be even more so for the irs to get the right people. neil: yeah, i have a good friend of mine is a cpa he is sitting in hog heaven. he is in big demand. commissioner, real honor having you on. thank you very much. >> nice to be with you, sir. neil: meantime news passing along on jetblue. it will scale new york flights in response to faa staffing shortages. we don't know much more than that. when comes at a time heavy demand for people that want to
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♪. neil: all right. could we be on the brink? you heard we're up against the debt ceilingboth sides will talk plenty of time to get this resolved. my friend, chris campbell, watching this, former u.s. assistant treasury secretary for financial institutions under president trump. he said don't think the unthinkable well, isn't thinkable. chris, you see a real possibility they could botch this, we could really see something bad here? >> i think there is a massive miscalculation on the white house in this area. almost like they were not watching how hard the election the speaker had, you know, getting from, to his speakership in the house. there is a real challenge here. neil: you know that was, you mentioned that during the break
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here. i never you thought of connecting the two. that was a surreal process, it went on and on and on. there was a possibility that, hakeem jeffries could become speaker. weren't that far. that is preview what could be a bad situation here? >> no question that the speaker has a challenge within his conference. his conference is deeply, deeply devoted to spending cuts. neil: to tie it to raising the debt ceiling. >> raising debt ceiling. neil: administration equally devoted to not? >> white house is refusing to talk, absolutely refusing to talk which is completely irresponsible. there is no reason why you can't put well-minded people, well-meaning people in a room to talk about stuff to find a path forward. neil: did we do that in 2011 or was it short lived? >> we did but it came to a deal, right up to the deadline. we had to extend the deadline for two weeks. that caused a downgrade. neil: had credit downgrade, got a deal, all craziness, chicanery
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ahead of that prompted the move. what do you see now? >> i think it's real challenge. first time in a long time i'm really, really concerned we may to up past the deadline here. for whatever reason the white house i think is thinking that the republicans are going to blink. i go back to the difficulty that the speaker had becoming speaker. if, testing the resolve of those members of congress is not smart. neil: all takes one them to heave his fannie out of there? >> not a smart move. neil: democrats fine, we submitted a budget, what about you republicans, we don't talk unless you give us a budget? >> budgets are not worth the paper they are written on. neil: question. >> what is important, get senator people in a room, having real quiet conversations to try to find a path forward here. that is really probably only way we will get here. i think kevin mccarthy is going to have a math problem getting his votes on a debt ceiling. certainly something clean, i
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just think it is really unrealistic. neil: what would constitute the brink? defaulting paying social security recipients? what would define, not making good on interest payment to a bundle? >> that is a great question. reality no one really knows, we have never gone this, never gone here. neil: yeah. >> hopefully we don't. but there is ways that treasury department and white house can prioritize payments, those kinds of issues. neil: but only for so long. how much time you think? mid-summer, is it the fall, what? >> it's -- neil: shouldn't be tinkering with it. >> it is a parade of negative, parade of horrible. we shouldn't test the deadline. i won't guess how much, will say this having worked at treasury, it will be much harder to get people to buy our debt. washington has a spending problem, real spending problem. since the 2017 tax reform bill the government has brought in record revenue he have single
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year since then yet we continue to have unprecedented levels of annual debt and deficits, right? government spends $1.03 for every dollar it takes in. doesn't have matter how much money they take in -- neil: always spends more than it takes in. wild stuff, chris. thank you so much. a lot of good thoughts. a lot of worries we shouldn't tis miss. kelly o'grady is following another development out in california they're talking about epare pa races and it is getting expensive. kelly. >> reporter: every few weeks the price tag for the california reparations proposal grows. we're looking total $800 billion. for context that equates to three-time as california's annual state budget. earmarking 250 billion for years overpolicing, 569 billion for housing discrimination that cocontinue to increase because it doesn't factor in a recommended one million per
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person for health harms, nor undecided figure what the task force calls devaluation of black businesses or property taken by eminent domain. at a public meeting yesterday california residents did express their support. >> all my money has been robbed. i need a report from this from robberyiers from 1850 to the present day. >> everything that happened to our people has been an atrocity in this country. it is time you paid everyone else. we've gotten nothing. >> reporter: one big criticism slavery was never legal in california with many feeling it is unfair for residents to pony up. another big issue, simply how to pay for this. the state is facing a 22 billion-dollar budget deficit. as of now there is no path to fund the 800 billion-dollar proposal. i highlight the deficit continues to increase. that goes up, reparations price tag goes up.
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social spending partially caused our inflation issues. i'm no math whiz, neil, it is not likely to help the pressures, neil. neil: nationwide phenomenon where we spend things for the money we don't have, on and on we go. kelly, amazing i think. kelly. kelly o'grady on that. jackie deangelis has what is coming up on "the big money show" a mere 12 minutes away. jackie: neil we're looking at sbf back in court pleading not guilty to a alleged bribery charge in china. new bail rules may take away his beloved videogames. we'll break all of that down. the dark side of a.i. should we be scaling back in this country when china and russia are ramping up? it is a big question. we have that at the top of the hour but more "coast to coast" after this ...designed smarter. like a smart coffee grinder - that orders fresh beans for you. oh, genius! for more breakthroughs like that... ...i need a breakthrough card...
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neil: have you heard about all the fuss over this ozempic? actually it's diabetes drug but a lot of people are owning on the benefit it has losing weight. more people trying to lose weight than have diabetes are trying to get their hands on it. british columbia gotten to the point they are restricting sales of this, saying it has gotten out of hand, limiting it just to canadians that want to get it. we have dr. devi.
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associate school of medicine. what do you make of this, doctor? >> access to care is the problem. americans are going to canada to try to get the drug. why are they doing that? if they don't have insurance maybe they're going to canada. if they do have insurance they have to face co-pays, insurance, deductibles things they can't overcome to see the doctor to get the prescription, maybe they're going to canada too. maybe they can't afford the drug here and have to go to canada. then what is happening the diabetics need the drug to try to control their blood sugar. people that have obesity, might be dealing with diabetes, dealing with cardiovascular complications, dealing with a lot of risks for. they want the drug. then you have people who especially drugs ozempic,rirul-t
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are popular on social media, tiktok, celebrities are using them. people may not be necessarily looking at them for medical purposes but cosmetic purposes so they're also trying to get the medication. neil: what do do you in that regard for yourself and our own patients, doctor? doc, i heard this thing can help me lose weight. it would be a healthy move, beneficial move if i got it so i could do that, what do you tell them? >> well that is a value judgment, right? i don't think that decision necessarily comes from the doctor's office but if you're a doctor, actually there is a benefit to all of those different groups but in terms of fda approval, it is really is for buy bet ticks, it is -- diabetics, people who are obese, or over wet with one medical problem affecting them also. if you're not obese or overweight, you have high blood pressure, if you're overweight have diabetes the medication could help you. nothing is per tech, right?
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you do want to try to prevent complications if you can. the issue is why is there a shortage and can we do anything about the shortage? the problem the shortage has been going on for some time. we don't know exactly why that is happening. for canadians, they have to figure out if they have people who have real medical problems with complications. so let's say somebody is diabetic, they have retinopathy, kid any disease, all kinds of cardiovascular problems do you want to force that person to wait with someone else more benign course in terms of medical condition. neil: to your point, you have to balance it out. thank you for, sorry for the tight time.e, dow up not nearly as much as it was. stay yes. right. yeah. with us. le when you think about it, because it's been, like, really over 20 years
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adam: vladimir putin is going ahead with plans to set up tactical nuclear weapons in belarus. what the secretary-general thinks of that on fox news. the situation got more volatile. now it appears it could go nuclear. he's coming up at 4:00 pm. "the big money show" is coming up right now. jackie: hello, every one. brian: welcome to "the big money show".
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