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tv   Cavuto Coast to Coast  FOX Business  June 6, 2023 12:00pm-1:00pm EDT

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ashley: which president appeared on the tv series "laugh-in." lauren, you guess first. >> jimmy carter? i'm laughing because i have no idea. ashley: mike murphy. >> number three, richard nix sown. ashley: that's who i would go to. i seem to remember -- the answer is richard nixon. he made the appearance back in 1968. we're out of time. "coast to coast" is coming up next. neil: all right. taking stock of the presidential market. it is getting crowded out there. chris christie formally joins
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the republican presidential race today, mike pence tomorrow, north dakota governor dug burgum after that. they are the latest. they won't be the last. why vivek ramaswamy welcomes them all. he has a plan to beat them all including the two big elephants in the room, donald trump and ron desantis. given the recent poll numbers robert kennedy, jr. hardly sounds like a candidate that can't win. his campaign manager, dennis kucinich, yes, dennis kucinich. what he says. thanks for cheryl casone who filled in ably yesterday. to manchester, new hampshire and parade of candidates teeing off this week. let's go to alexis mcadams who is there. >> reporter: neil, it is getting crowded in the race for president. former new jersey governor chris christie is throwing his hat in the ring.
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he will announce at this building behind me at a town hall tonight. we'll get more in a minute. he will get on the stage tell all the voters in the room, across the country, he has exactly what it takes to take on former president donald trump to go head-to-head with him in the debate stage. this is expected to kick off around 5:30 or 6:00 he is expected to show up. he will take that stage during the townhall at new hampshire institute of politics. christie has been spending more and more time in new hampshire. already had his second townhall in the state so far this year. he focused campaign back in 2016. as you know didn't go very well. he came in 6th in the the in primary and dropped out of the race to endorse president trump. he is slamming president trump for the claiming that the election was stolen. they don't see eye-to-eye. former federal prosecutor taking trump on. he is not a paid assassin here he knows trump better than
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anyone can take him on. voters watching candidates closely,. >> i think chris christie is getting into this to attack trump. i don't think he has any real goals to attack president. more of taking someone he doesn't like down. >> maybe we do need new blood. maybe we need somebody like christie or desantis or just because of what's happened in our world. >> reporter: now as more people jump into this race and it becomes more crowded, neil, new hampshire governor chris sununu announcing he won't run for president. in a op-ed he says beating trump is the most important thing. although christie is polling pretty low, political experts if he gets on debate stage suppose after donald trump in ferocious way he could help other candidates running for president. neil. neil: chris christie making it official running for president again. a guy who has beaten him to the stump but some number of months,
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vivek ramaswamy joins us now. good to have you back. >> good to be on, how are you? neil: very good. let me ask you first what you make of what will be a busy week off add-ons to the republican presidential contest, beginning with chris christie tonight, ending we're told by end of the week with north dakota's governor. getting pretty crowded out there, what do you think? >> it is. first thing i will say more competition is good. we as a party need to define what we stand for around why we stand for it. i think the debate stage will be critical for helping define that agenda. i believe our campaign is already leading the way in defining that agenda. so i invite the competition. i think that's a good thing. i don't want to hide from it. to the contrary -- neil: -- debate stage? >> we're already on the debate stage. so we've actually made the debate stage in may. we hit 40,000 unique donor thresholder and criteria as well. some candidates complained the
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criteria was set too high. i'm a first time politician, we crossed three months in advance of the debate itself. i feel good where we are. neil, people are hungry for an outsider. i think tradition of the republican party to nominate somebody who is not a professional politician into the white house. i predict that will be the new gop tradition. i think our base is hungry for that. i am the outsider in this race. i think it takes an outsider to take on the administrative state, to declare independence from china, to revive our national pride in a way that existing professional politicians just aren't really getting done. that's why i'm in this race. neil: you know you're one of the wealthier candidates in this race, worth in excess of 600 million. i don't know, it's moving targets. suffice it to say you're a wealthy guy but there are other, you know, party types who are focusing on bigger business types like jamie dimon to make a run for it, not necessarily as a republican but just to make a run for it because we need a business titan in there.
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that's, that's the view. what do you think of that? >> i think that view is shallow and superficial. i'm not running on the premise of saying that because i know how to run a business effectively, i am self-made. i didn't inherit my wealth. i built it through multibillion-dollar companies i built from scratch. i'm not saying that is not what qualifies me for president. that is tired pitch. you hear that once every election cycle. i'm running for significance on our country. what it actually means to be an american. i think of myself george washington america first conservative. reviving the ideals of the american revolution. neil, you and i have been talking a couple years, i've written three books in the last 18 months. those are not automobile candidate books. those books lay out a specific vision of what's wrong with the merger of state power and private power in our country. the real threats to liberty today. so i'm running on that vision. so happens i'm doing it as somebody who has lived the full
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arc of the american dream, unconstrained by being a traditional politician. neil: i give you credit. you're looking at issues that others have not. you are ahead of issues that others did not comprehend. you quote literally the book on wokism, "woke, inc.," before others seized on it here. i wonder in the crowded field you separate yourself even more? people give you high marks, just your work ethic. steve wynn advised you should be making people feel good about themselves. i guess you had a chance meeting that was arranged with him, talking the casino mogul. was he telling you that is what you lacked? >> he was telling me that is what he saw the potential in me that was different than others in the field. i take advice from everyone. that was the good piece of advice i took from him. reagan was the last president to do that well. part of my mission, neil, is to revive our sense of national self-confidence. that is part of what we're
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missing. we doubt ourselves as a country. young people across this country doubt themselves as individuals. one of the things that i have seen this country gave me the chance to live the full arc of the american dream. i'm the first millenial ever to run for the gop mom nation for u.s. president at age of 37. i'm doing it with self-funded way of small dollar donors. i put eight figures in the campaign to declare independence from the donor class. that is part of the american story. we can use that to revive self-confidence. i'm trying to show people why we still have us as americans other best days to be ahead of us. i don't think we're a nation in decline. i think we're a nation in ascent on our way to the mountain tap. when you see it that way i think problems we're going through now are going through our version of ad dough licenses. you lose self-confidence in
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adolescence but you get to the adulthood on the other side. i'm running to something, not like running from something a lot of republicans are doing. neil: a lot are cautious advising how we deal with china. you put it out there we have to prevent u.s. companies from doing business with china a lot of them but are you prepared to tell the american people that in doing that they're going to pay a lot more for chinese goods? would you do like an fdr-type speech to say this is well worth the pain and suffering it is going to cause here because that will cause a lot of pain and suffering here? >> so i would. i would also ban the ccp or its affiliates from buying land in this country. might make it harder to sell your land. neil: talking about the chinese communist party but go ahead. >> i mean the reality is, that we can make these sacrifices if we know what we're sacrificing for over the long run. that is this thing we call
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america. and i think that the secret in geopolitics when you're most willing to make a sacrifice that you probably won't have to make one at all. what i've said we will cut the cord from china unless the ccp dramatically reforms its behaviors including turning companies into geopolitical pawns. including requiring data of u.s. users for companies to enter the chinese market. that is the kind of reform i'm going to demand. xi xinping, neil, you may know this well has a tougher hand than we do right now if we have the spine and courage to open our eyes up and actually see it. so i predict i'm sitting across the table from xi xinping he will fold. neil: i understand that, vivek. i guess with i'm trying to say, to plain tough with china it boomerangs back on us. >> yes. neil: they're are a lot of people kowtowing to what is going on right now with china. there's a concern among a lot of u.s. misses and titans from jamie dimon to elon musk to bill gates who all say to a man
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it would be risky and boomerang to the degree it hurts just as much. you don't agree with that? >> i disagree with that. i have disagree with that. first of all they're making it out harder than it actually needs to be because it serves their self-interest to say so. this is where i depart from trump a little bit. i would reopen trade relationships with japan, south korea, india, southeast asian countries, australia, that put husband in a strong position from supply chain perspectives and otherwise, to stand with conviction across the table from xi xinping. yes it is impossible to bring all of that to the united states on day one. i love bring it to the united states but we need to fill the gap with other pacific trade partners, brazil, mexico, other trading partners f we do that this becomes a lot more achievable that self-interest business leaders make it out to be to say we can't cut the cord from china. then we have a strong hand in our possession. then we stand with a spine across the table from xi xinping. i predict he will fold.
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even if he doesn't we're ready to cut that cord, to think on the time scales of history instead of time scales of two year election cycles or quarterly earnings report. i think it's national security risk for the united states to be dependent on our enemy for our modern way of life even when reagan took on the ussr they were not putting shoes on our feet or the phones in our pockets. that is the real risk we need to wake up to on the foreign policy grounds. i think i'm the leading candidate in the race that both understands it and has a clear plan to liberate us from china as you said neil, honest with americans, that there is some short-term inconvenience we may incur, that is worth it for having a long run future for our next generation. neil: very interesting. we'll see what happens. thank you very much, vivek ramaswamy, 2024 candidate. he is ahead on lot of these issues, others are ignored them. taken on controversial ones at that meanwhile edward lawrence at the white house how they're
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positioning themselves. hey, edward. >> reporter: first one to tell you i'm not going to run for president after listening to the interview you just did there but some democrats are quietly now saying doesn't really matter what the agenda is for president biden's next term because they're possibly concerned he won't finish out a next term so republicans and democrats are now saying this election coming up is about the vice president kamala harris. republican presidential hopeful nikki haley making waves about the level of competency and mental apartmentness a president should have. it is important to hear exactly what she said. listen. >> let's be very clear, if they think it will be president biden, a vote for president biden is a actually a vote for president harris. we're running against kamala harris, make no bones about it. "the new york times" knows it, every liberal knows it. they know that it is kamala harris will end up being president of the united states if joe biden wins this election. >> reporter: so after six weeks in the race president biden with no public campaign events.
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instead he is worked that private donor circuit. in fact fox news confirming the president plans a large fund-raising event with billionaire illinois governor jb pritzker possibly this month. also the white house defending the president's mental fortitude. >> he really had one, had one of the best midterm out come for a new democratic president in 60 years, in 60 years. and so, look, i will leave you with a quote here, here is something, that i think, that was said a couple days ago, a huffington post-headline, after calling joe biden senile republicans complain he out smarted them. i will leave it there. >> reporter: robert f kendi only big pressure put on president biden now. on "your world" you will have an interview with that candidate coming up later on today. neil: thank you, edward. meantime we have the interview
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with guy who is his campaign manager, dennis kucinich, former ohio congressman, are former presidential runner and former mayor of cleveland who wants to make sure robert f. kennedy, jr. is the next president of the united states. ♪ your record label is taking off. but so is your sound engineer. you need to hire. i need indeed. indeed you do.
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♪. neil: do you feel any pangs of pain taking on this president? >> well, yeah, you know, it is like running against somebody in your family but you know, ultimately i think i'm, i'm in a much better position to beat donald trump than joe biden is and i, i also just disagree with him on basic issues. neil: all right. the name counts for a lot but also the meter and ideas that robert f. kennedy, jr. is it espousing connecting with number of democrat ric voters. he scores one out of five democrats say yeah, they like
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him. when you throw in marianne williamson that is fully roughly a third of the democratic votership if you will that prefers someone to joe biden. my next isn't surprised. in fact he is campaigning, working on behalf of robert f. kennedy, jr., himself, former presidential candidate, the mayor of cleveland, so much more dennis kucinich who is kind enough to join us now. congressman, very good to see you. >> neil, great to be with you. neil: same here. let me ask you why are you doing this? it's a risk. usually a lot of people look askance at someone who within the party is taking on the president and of course the titular head of your party. why? >> well you have to reflect on what robert f. kennedy, jr., stands for, then you can understand the urgency of his candidacy. rfk, jr., stands for unity, stands for stopping the endless wars, stands for truth, stands
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for freedom, something all americans are concerned is slipping away because of the connection between corporations and the state. he stands for healing the nation. enough of these divisions. let's bring america together to show the real power of our country. so i'm a kennedy democrat, this is something i'm proud to be part of this effort and robert f. kennedy, jr., he is the man for the moment. neil: even as division within his own family i kidded with that about him last i talked to him speaking again to him on thursday, i'm curious congressman in your case, you're a liberal man, you stand by your principles, you fought for those principles. some don't know what to make of robert f. kennedy, jr. he is a far cry from his father. his views on vaccines and host of other things, that he is a conspiracy touter, he doesn't fit the dennis kucinich mold you would think?
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>> well actually he is a centrist and if i was in congress today i would be a centrist. i think the american people are moving towards the center and they're looking for a leader who can embrace the totality of american experience politically and socially and that's robert f. kennedy, jr. again, he is the person for this moment. and i'm supporting him because no matter what my political journey has been i can tell you that today our country needs his leadership to be able to close ranks, to deal with the urgent concerns that we have of bringing the country together, to address the violence that's going on in our own society, to be able to look at what we need to do to have economic justice, robert f. kennedy, jr. has experience of 40 years as a trial attorney. he is a very, very bright guy who is bringing his depth of knowledge to the country. as people watch the campaign, you're going to find that there is no one who can approach him
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in terms of historical analysis, in terms of his understanding of what the democratic party ought to be about, and in terms of how do we bring the nation together. that is why i'm for him, kneel. neil: let me ask you as well though, about what it says about your party right now, congressman. much has been made of the fact that joe biden is old and getting older. we all are i guess but he is showing it right now, and that some of your colleagues in the party are getting concerned. do you think that what would happen, let's say the race starts, gets to new hampshire, south carolina, looks like south carolina is first, robert f. kennedy scores real well, doesn't have to win, could be like 1968, eugene mccarthy didn't win new hampshire but did well enough to push lbj out of the race, for the former president to acknowledge i'm not running again. the irony that other party heavyweights will enter at that
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point not robert f kennedy, jr.? >> well, the reality going to be respectfully, neil, democrats are going to look for the person who can win in november. i think as we move towards the primary season it will be a abundantly clear that robert f. kennedy, jr., is the only democrat who can win in november because he can get the support of republicans, he can get the support of independents. he is someone who has the ability to unite the nation and he can do it at election time. neil: i won't tune out to that point but i will be curious, doesn't joe biden have to acknowledge that? how do you think party types, many of those in the white house, if you're right about that, mr. president, we don't think you should do it, we don't think you should make the run? >> well i don't, we haven't made age an issue and -- neil: i know, i know. if everyone is saying,
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plurality, you're quite right, there is strong plurally of democrats want someone else, how is that then conveyed to joe biden, is it? or does he have the final say on that? >> neil, your question is well-taken but i will say again, that democrats want a winner in november and if it appears that robert f. kennedy, jr., can be successful in november and president biden cannot in 2024 then democrats will turn to robert f. kennedy, jr. as the standard-bearer of our party. as a kennedy democrat i'm looking forward to that moment. neil: do you think he is is father? >> i'm sorry. neil: do you think he is is father? that he is, he is not his father, he is quite different than his father? >> well all of contain the aspirations of our parents and i think what he has done is to be able to demonstrate a depth of
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knowledge on the things that concerned country. like his father he is a very inspiring person and like his father he is putting it all out on the line for this country because this is, this is the moment. you know, all of us sense danger on the horizon in the way that the affairs of the nation are being managed right now and so robert f. kennedy, jr. is not only up to this moment, he is a transformative figure, neil. he is somebody who is the one person that people no matter what your political party or persuasion is, they can be confident in listening to him and looking at him and say you know, could be the next president of the united states and the kind of person you want to be president. neil: we'll watch closely, dennis kucinich, you're an honorable man. a lot of people listening to this, what did kucinich say, i want to pay closer attention. dennis kucinich former ohio congressman, former mayor of clear land and presidential candidate why he is supporting one robert f. kennedy, jr., who
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is not going away, reminder my special guest on thursday on 4:00 p.m. on "your world" on fox news. meantime remember when the pga was saying all the nasty things about the liv, the saudi golf league, now they're merging, yeah, merging, after this. ♪. ♪ the biggest ideas inspire new ones. 30 years ago, state street created an etf that inspired the world to invest differently. it still does. what can you do with spy? ♪ ♪
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♪. neil: who would have thunk this day would ever come. all those pga tour players who didn't sign up for liv in the tantalizing dollars being thrown their way, maybe a case of regrets right now. matt napolitano on the unusual tour between the pga tour and saudi-backed rival league, liv golf. matt, fox 20 hours reporter but
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a encyclopedia on this stuff. how did this come down? >> it came down as a shock early this morning. no real stalk from what we're learning for pga golfers. in fact they had an event this past weekend. players advisory committee met, jay monihan was there, this doesn't come up. colin, said they found out on twitter t comes as a shock. it liked like for a lot of people it wasn't adding up for liv golf. they would not compete in terms of the fan base when it came to drawing in the ratings and drawing in the attention that the pga tour. a lot of guys jumped ship, got major pay days it was not bringing in the ratings. you saw legal action taking place. you had antitrust suit from liv against the pga tour claiming they were trying to monopolize all the vendors and broadcast partners. pga tour, saying breach breach f contract against liv giving guys, nine figure pay days.
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we'll have newly formed golf entry includes pga tour ceo jay monihan remaining on board and board of directors, including the saudi investment fund, a lot of ire came with the formation of the league. neil: what is having about that, say what you will of donald trump but a year ago he was trying advise pga players getting offers, take them, it is eventual these two league will merge. saying all the golfers will pay big price when inevitable merger with liv comes. if it was inevitable, will there be some pga players who want to quit because they are now merged, they wering a boost ash aghast at prospect of doing anything with liv? >> they are looking maybe what will come ahead. this will not happen immediately. liv will finish out their
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schedule. pga tour will finish out the schedule for 2023 one name comes to mind rory mcilroy. rory mcilroy stepped up tremendous, they jumped ship for the money. how do they make money knowing what we know of 9/11 and jamal kashoggi. he will sit there with egg on his face, because pga tour says we're good for the money, if it is the prime investor going forward to expand the game of golf on the global stage. there is players meeting with ceo jay monihan scheduled for later today, the rbc canadian open for the pga tour in toronto. we'll see what comes of that. it will be interesting, that the guys found out haphazardly on social media like the rest of us did. neil: there is no way to go, there is no rival league to these leagues is there? no. >> no the three entities, the dp world tour out of europe joining
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as well. they are the only grounds. it will be a one global entity. they hope it becomes almost like fifa, it will be the global governing body are got sport. branching out, taking what people liked about the liv golf league, group stage play, a separate prize away from the individual prize but it is still going to be very up in the air how this folds out. they will be operating in good faith on the negotiations but there is a lot to hammer out. i know we're tossing sy way pending litigation, things need to be addressed, words said, money paid, it will be interesting to see what comes in the next few months pass they try to make this come to fruition. neil: real quickly, money talks, doesn't it? >> it does. tiger woods turned down a 700 to 800 million-dollar payday not to join liv. we'll see what happens. neil: matt, great job. matt napolitano following development. following what you're seeing at grocery store. price of meat is still soaring.
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running triple of inflation rate. it is not easing. jeff flock knows why. hey, jeff. reporter: i'm at a place called lombardi's finer meats, i will tell you, they are fine meats but they're going to cost you. coming up i will tell you how much and why. stand by, might go to work here too when i'm done. ♪. (man) what if my type 2 diabetes takes over? (woman) what if all i do isn't enough? or what if i can do diabetes differently?
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neil: all right. great time for grilling but a great time for, well, paying up for the pleasure. jeff flock has a lot more on that in philadelphia. hey, jeff. >> reporter: i know you wish you were here, neil, because you appreciate food like many of us do. yeah, if you get behind the counter, by the way they make you way an apron so i'm ready to go. vince lombardi has been in
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business 50 years. >> over 50 years. neil: you're seeing beef prices, put numbers up, neil. beef prices right now they're up some but they're going to get a lot worse they say. >> probably they will. as i understand they're but right now really not that bad. they're reasonable. neil: >> reporter: here's the deal. what's this? this is expensive stuff, people you say are backing off of this a little bit and doing more cheaper cut. >> doing a little bit more cheaper cuts. doing more for the ground beef. >> reporter: what is this one here? >> short ribs, brisket. this is a chuck you can do as a roast which is cheaper. you can grind it. make a nice hamburger yourself. >> reporter: what is this here? >> this is meat which is on top of the rib-eye which you can also make a stew or make ground sirloin or ground beef. >> reporter: cheaper than the rib-eye. neil, here is the thing, you look at a cow, neil, again we got numbers like this, a 50-pound steer, that price has
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now gone up 25, 24%. the reason for this, that's crazy. that reason for this that is coming down the pipeline once it gets to here, the reason for this is because drought, other issues have, you know, really impacted the number of cows out there. >> impact is everything. it is not just the cow itself. it's everything down the line that makes everything cost more money, money. you figure the transportation, the gas, that is what -- >> reporter: inflation hits them as well. can you cut a few more rib-eyes for me as we close here, neil, just to say, they think maybe two billion fewer pounds of beef will be in the system next year. >> probably will be $25 a pound, no doubt about it. >> reporter: $25 a pound. >> it will go up. it's beautiful steak. >> reporter: i don't want to touch it. >> really nice stuff. >> reporter: nice marbled. >> marbled this is usually
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marbled. more marbled the better it is. >> reporter: neil knows that, the more marbled the better i think. he is a connasseur of all things. neil: boy, i cannot wait until you're in the studio live with me for me to make your life an unending hell. but jeff, i should point out -- >> reporter: wouldn't be the first time. just like my first wife. neil: arugula prices are running up faster than meat prices. i know that hits your bottom line. >> reporter: you do have any plant-based meat here? >> plant-based? no. >> reporter: apparently not. >> i want to show the audience you're good. >> reporter: i can cut meat. hold my microphone. i will cut meat. whoa, my god, oh, no. neil: [laughter]. >> two fingers. very, very good. look at that. >> reporter: oh, look at that. >> beautiful. he is hired. he is hired. that's it.
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can't pay you cheap, about $10 an hour. that is all i can afford. >> reporter: that is about what i make now. back to you, sir, before i get in further trouble. neil: [laughter], jeff making friends left and right. jeff, that is management on line two for you. jeff flock following all the developments there. bob far dellly, also a fellow with a very good sense of humor, former heem depot ceo, former chrysler ceo, bob, this kind, ault seriousness shows what you're talking about, that is every day staple for a lot of folks who can't afford it. i hope they don't veer to become vegetarians, that notwithstanding, that inflation pressure is alive and well, isn't it? >> it certainly is, neil, i see it every day in public companies i'm involved in and certainly the private company. one thing lombardi mentioned was fuel and fuel charges.
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i'm a broken record on this but first day of this administration when they attacked the petroleum industry and curtailed you know, gave away our energy independence that at the heart, that is the biggest issue creating inflation, when you talk about grain and transportation of the products, et cetera, you know, i think, neil, rather than a soft we are disappointed to saudi, wouldn't it be more appropriate to this administration say, checkmate. i will open up enough fracking rigs to produce 1.5 million barrel-a-day, a million to offset your reduction and 500 to put back into our national reserve? i think we just need to stop talking and start doing more to -- neil: maybe that was part of the debt ceiling deal? they will speed up the permitting process. but you're quite right it still takes a very long time. i'm just wondering how do you see the inflation thing sorting out? as you know a little over a week
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from now the federal reserve has another meeting, some are fearing because of that backdrop we could see a rate hike even at that meeting, what do you think? >> i think it is possible, neil. we were all excited about the jobs report, right? 339 jobs but over 60,000 of those were government jobs. we saw unemployment go up just a tick. we saw hours worked go down. that is equivalent to about 700,000 jobs and lower paychecks for the people -- neil: bottom line, it was a very strong report. they're seizing on the fact that you know, the administration as you know, bob, that is the wind at our back. you argue it isn't what it appears, right? >> yeah. no, they have been off, you know the last 10 or 12 reports but if you look at it, neil, manufacturing was down 2000 jobs. small amount but it continues to be down hospitality and travel, people are breaking out of covid, they want to travel. we're seeing significant gains in air transportation,
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hospitality hotels, et cetera. that is not contributing to the core of gdp we need in this country right now. neil: got it. >> inflation is still exceeding although wages have gone up which again your friend at the butcher shop talked about wages but inflation is still exceeding wage increases so i think, i think we still got a way to go. i was talking to a large bank the other day. they did three models. 80% confidence we'll have a hard landing back half of the year. multitude of uncertainty we've seen today is greater than i've seen in my 52 years of business, neil. neil: we'll watch closely. always good to see you. bob nardelli. >> thank you, sir. neil: we have brian brenberg to take you what is happening on "the big money show" 13 minutes from now. professor. brian: crypto crack down. the sec is suing coinbase the day after taking on binance. looking for a roommate? new york city mayor adams may
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♪. neil: take a look at the banks right now, despite this story that is making rounds in "the wall street journal" today over the weekend and financial times that they are going to raise capital requirements. in other words the government wants them to have more cash on hand in case everything hits the fan. you would think that would hit the stocks, particularly big banks, at a time when they have been sort of the back support for a lot of wobbly small, medium-sized banks. want to get the read on all of this right now with alan knuckman, bull's-eye options chief market strategist. it is a worry, alan, not really evidencing itself. a lot was telegraphed, sort of spoken of for some time, so what do you think? >> i'm going to use your own words, neil. you said you're a positive guy, been so for decades. optimism wins i'm looking for a bullish bank contagion breakouts if. you look at the banks, price action is very attractive and very bullish.
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the dow not participated in the rally yet. qs led. s&p breaksout. we'll see what happens with the dow. if you look at the dow, what is holding it down are the banks. the bac has a pe of eight. wells fargo, jpmorgan, pe of 10. city group, a pe of six. they're making a bottom base. i'm seeing bullish leveraged buying in the banks 10% off their february top. so i love the price action. that is really what it's all about here the last months. 2023 has been all about price, and it has been positive. neil: you know it is an interesting observation as many of yours are, alan, you could argue this will lead to a concentration in the big money center banks. one could eat up the other, which is probably the exact opposite of what people thought would happen during the midst of the financial meltdown, that they were getting too big to fail, we had to watch that. what do you think? >> well, you and i talked a couple months ago. what we saw in march was a
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unique situation for a bank bust that was not operated properly. and we both agreed this was not 2008 or 2009 and it has proven not to be obviously. neil: absolutely. >> xlf, financials are doing very well still. i think they have a lot of upside potential. for this market it is about risk/reward. you will see some money maybe flow from some big movers, apple, n vivid yaw, stuff like that, into better risk/reward plays and i really like where the dow stands right now, even though it is only 30 stocks, the banks make up a majority of that. so they have got really good upside potential here and what i'm seeing is a lot of option action and something i look for, we're in the options markets over my shoulder here, something i look for when you see new lows which we saw in bank of america but you don't see new highs in implied volatility that's a sign that the market is going to turn because the sentiment is shifting. we saw that in apple back in january. we saw that in meta back in november. so that's when the psychology
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shifts and these stocks snap back because they're so oversold. so many people will be forced to take profits on their shorts. i think this is a great segment to keep an eye on right now. are the banks is where you know, that's where we keep our money. i don't think they're going out of business anytime soon with rates, they pay their depositors nothing. they, get 4% in bonds overnight. so they're making the money. neil: they are making the money and then some. alan knuckman, always good catching up. a refreshing smart guy. >> thank you. neil: alan knuckman, bullseye option chief strategist. look at what is going with bitcoin, a bit selling pressure. see what i did there? bitcoin, bit, more off this ♪. cr can help you grow and protect your wealth,
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>> welcome back to cavuto coast-to-coast. the second crypto currency crackdown appears to be underway, the sec soon two of the largest platforms, the sec charged coin base with operating as unregistered security is exchange, stock is down 14% on the news. they will operate as usual and the solution is legislation
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that allows fair rules for the transparency and applied equally, not for litigation. the sec also sued binance for commingling customer assets. that's with the government is going after as well. they say we will vigorously defend against any allegations the sec's actions give them an effort to rush to claim jurisdictional rounds from other regulators. i spoke to other folks in the industry and this crackdown may spur consumer confidence. all of the crypto's up today but i will leave you with this, they are seeing hundreds of millions in asset outflows today. neil: the dow is down 61 points. no one under 50 knows that. brian: of that was an amazing impersonation, i didn't know you could do that. well done. mr. talent over there. brian: i'm brian brenberg.

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