♪. ashley: you got to take a look at this very quickly. this is new york city. you can see the smoke in all pictures. it is making the city very dark. you can't even see the statue of liberty. quickly to the trivia answer. which of the following land-locked countries is entirely contained. the answer, ah-ha, it is lesotho. contained entirely in south africa. if you got that you're smart. that is it for "varney & company." time for "coast to coast." ♪. neil: really is harder to

breathe. this is a live shot of midtown new york right now. you're seeing the empire state building through the fog. looking at offices avenue of the americas it is a mess. it is crazier than crazy. looks like the surface of mars. i was driving back to this thing from new jersey. you couldn't make out the manhattan city skyline. you couldn't make out at all. all because of big fires going on in canada, 8 million acres of land already been burned. normally with a typical fire you're looking at 600,000-acres. this is massive. warmer temperatures, drier conditions wreaking havoc in 13 states where air quality alerts have already been issued. they're not bumping around about this. i talked to a good number of medical experts. if you have any compromising ail lengths or lungs or respiratory issues, you should stay inside.

so we're keeping on top of that, nate foy, he has been to war zones, everywhere else at the border, this is a little surreal for him in new york city with what is going on. hey, nate. >> reporter: it certainly is surreal, hello to you, neil. i can tell you since we got here early this morning the smell of the smoke is strengthening this is not just a new york city problem. air quality alerts in the tri-state area of the northeast, upper midwest, as far as south as north carolina. specific here in new york city, for a moment we had among the worst air quality in the entire world. take a live look at the new york city skyline. the mayor says this is an improvement from what we saw yesterday but you still see hazy smoke covering the city. the mayor spoke just a few hours ago. he expects conditions to improve today worsening tomorrow. he has this advice for

new yorkers, listen here. >> this is not the day to train for a marathon or to do an outside event with your children. stay inside, close windows and doors. use air purifiers if you have them. >> reporter: neil, take a look at the smoke from last night. the state department of environmental conservation issued an air quality health advisory because of this and public schools, not only in new york city but also in buffalo will not have any outdoor activities for students today as a result of this smoke. now it's all coming from canada where over 400 wildfires are burning, including over 100 in quebec specifically impacting the northeast region but it is not just the northeast that it being impacted again. take a look at this map, neil, the red and orange dots show you where the air quality is the worst. you can see it extends as far

west as chicago. take a look at this next video. you will see chicago on the left side of your screen. detroit on the right side of your screen. both cities dealing with similar conditions that we're seeing here in new york. again, air alerts, air quality alerts also extending as far south as north carolina. back out here, live, neil, this getting attention on capitol hill today. senate majority leader chuck schumer began his opening remarks talking about this situation blaming it on climate change. a democrat congressman from here in new york also wore a mask on the house floor today in solidarity with the people here and across the country who are dealing with these conditions. we'll send it back to you. neil: fate, you're young and fit w he figured throw you out in the middle of all of this, see how it goes. just amazing. thank you for that. nate foy following all of that in manhattan. i want to give you a a view right outside a few feet own

the avenue of americas. look not only what is behind me there. you don't have to. it is there, it is out of control. it looks like it will stay this day much of the day. bridge get mahoney, fox weather meteorologist. was not nearly as bad as this morning and just like yesterday seemed to get progressively worse yesterday. we're essentially following the winds, right? >> we are. the winds prevail out of the north, that continues to bring in as you mentioned these waves. we're tracking some of those waves on our satellite and radar. this is a look at the cloud coverage. this is really the ominous thing as we zoom in here, you will notice this is the time frame starting at 10:00 a.m. the last three hours you notice this line of snoke inching in, including in new york city. we've been seeing worsening

conditions more so over the last hour up to the north, rochester, sir excuse, syracuse, there is bright hugh, some of the thickest smoke and worst air quality concerns in the past 40 years. visibility from this area from central to eastern pa, into upstate new york and now including new york city, less than a mile. this is downright dangerous especially if you're outside for extended amounts of time, working out outside, just make sure you're taking breaks. very unhealthy air quality concerns from scranton to the north. watertown, we look at hazardous concerns. new york city we're at unhealthy. i wouldn't be surprise if we continue to increase through very unhealthy as we head into the later half of the day because our smoke tracker is showing a really big increase in this into the rest of the evening. central new york, 411, off the

charts, that is hazardous. portions of arizona seeing some issues but the big issue has upon the northeast so far, through this week, not only closing out the work week. you can see the air quality index. once you get above 200, that is when you spike into at least very unhealthy. you notice the densecy of the smoke is going to increase through 8:00 this evening. that is shaded by the brighter shades of orange. out to the west, western pennsylvania, you don't see a whole lot today until tomorrow. tomorrow afternoon, that is where the winds are going to shift just a little bit, pushing some of the thickest smoke out to the west. new york city we still see it around tomorrow. i think we'll see minor improvements as we head into your thursday. about the prevailing winds, out of the north, to northwest over the next several days, even into the weekend but by sunday, i have some good news. we are going to see the winds

out of the south. that is going to allow a clearing in terms of the smoke conditions. we're looking forward to that but for now, cavuto with, very to get through an extended period of these smokey conditions. today i will be actually up to the north in the bronx at yankee stadium as there is a game later on this evening. i will be checking in with the air conditions there on fox weather as we head through the evening. neil: i saw a video of them playing last night. it was, talk about surreal? it really was. brigitte, be safe. dr. marty makary, john hopkins health, fox news contributor. doctor, what do you tell patients, those you know, recommendations you make in an unusual situation like this? >> well there is a health hazard here neil, when you're dealing with fire, smoke, you're dealing with very tiny particles, they go deeper into the lung space

than people with asthma, lung conditions, cardiovascular disease, people frail may not handle a lot of stress because their physician lodgic reserve is low, particularly older, vulnerable individuals those are the people we have to think about, call, check on, and encourage them not to go outside while the air quality index is hovering around 400. that is 10 times higher than it should be. neil: a lot of people have air-conditioning, closing their windows if they don't. some of that gets indoors. any recommendation? >> well, first of all masks, high quality masks can help. i know people have been polarized and triggered by masks for viruses but if somebody is trying to reduce the amount of particles they inhale, that can be helpful. you want to make sure it doesn't limit their own breathing if they have a condition like copd where they're not breathing well so it's recommendation you got to weigh both sides of but this

will pass. so it is just a matter of hunkering down for a short period of time, could be a day, a couple days. neil: you know, doctor, one of the things as we take a look at these satellite images we have of the area not only around canada, of course this started in nova scotia, spread to alberta, some of these other provinces here, of course went down to us, the jet stream widened as i say to some 13 states carrying these, you know, air quality alerts, when an air quality alert comes out, doctor, what is the trigger for that? is it when you get over the 200 level, what triggers that? >> that's right. the index is based on the par particulars per million par particulars in the environment. right now that level is at 400. the index should be un200 and i'm looking at a map right now, neil, it is note just new york

city. new york city gets a lot of attention. the media is based in new york city. upstate new york, midwest, northeast, 150 active fires in the quebec area. that is above the normal rate of forest fires. that is what is driving a lot of this, along with winds, cold front coming in from the southern side right now. neil: hopefully not for long. just depends on the winds to your point. dr. marty makary, good seeing you again, thank you. >> thanks, neil. neil: i i want to take you to north at that coat. this is unusual entrant in the race. you might not know him. among some of the world's richest men. governor of north dakota, found ier of great plains software. he sold that at a huge profit, again wants to stake out his claim among a does or so republican presidential as per ants. mike pence joined the race

yesterday. a solid 12 running a few more. at the rate we're going we could top the list of candidates in 2016. by the way, the north dakota governor will be my special guest 4:00 p.m. on "your world." fortunately doesn't have to find his way here. he will come remotely. if he were flying in he would have to deal with all of this. he is a busy guy. he can't be dealing with all of that. more after this. ♪.

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♪. >> there is somebody remarkably, and you mentioned it earlier, doug burgum in north dakota, you got to remember, i came up with him in the software industry. he created a massive software business that microsoft bought but he also has been very successful as governor of north dakota. i know that because i invest in north dakota. i have met him, and i have talked to him. he is the kind of skill set on both sides of the equation. i don't think he is well-known yet. people start saying wait a second, he is legislator and has executional skills in business, maybe that is the kind of person that would really work well in

government. instead of taking somebody right out of business to figure out how legislation works because that is also a tricky game. neil: a guy they call mr. wonderful, kevin o'leary, thinks that the north dakota governor doug burgum is wonderful, the answer to all of those trying to push a business titan to run in this race. vivek ramaswamy might cross that to some people here but this governor is a lot richer. given his great plains software creation he did sell to microsoft. he has the record and the sort of you know, corporate gravitas to close the deal he says, he is making that pitch right now to voters nationwide from fargo, north dakota. same day that mike pence made it official, that he too is joining the race. so that's three candidates, if you add chris christie, the former new jersey governor who made his bid official yesterday. mark meredith in iowa following all of these fast-moving developments. it is getting crowded, mark.

>> reporter: neil, it sure is. we'll need a bigger ballot. you can hear the music in the ballroom. they're trying to pump up the crowd, because less than an hour former vice president will tell the ballroom he is running for president, expected to trump in the race. will talk about the accomplishments during the trump-pence administration. unlikely he will talk about his old running mail. he is complaining on his family, his religious values, talking about his career of government service, served as governor of indian before going to the white house and a member of congress. he released a campaign video today kind of highlighting why he is running. >> our country is in a lot of trouble. president joe biden and the radical left weakened america at home and abroad. the american dream is being crushed underrunaway inflation. today before god and my family i'm announcing i'm running for president of the united states.

>> reporter: but pence is going to be facing an uphill battle despite national name recognition. trump continues to attack him calling him disloyal, pence repeatedly pushed back, that he had no authority to do what trump wanted, reject the 2020 electoral vote. seven hours north of us in fargo, north dakota, the governor of north dakota jumping in this race. the former tech executive says his business experience may appeal to voters unhappy with the economy. it is interesting, south dakota's governor has her doubts that doug burgum has a path. >> doug burgum is a nice man. what is interesting to me jumping into the race. they have to show house how they will win. the more people that get in it strengthens president trump. everybody keeps asking the wrong questions here. >> reporter: now trump has yet to react today to pence's campaign. i've been checking social media thinking he may be somebody who would offer you some insight,

muted attack or full-throated one. so far trump not weighing in on pence jumping. he is saving his fire for former new jersey governor chris christie. we're playing johnny b. goode. we'll see in an hour. neil: thank you, to mark meredith. to marc lotter, former press secretary to the vice president. kind enough to join us. it is a crowded field. your old boss is one of a dozen. could be one of more than a dozen. what chances do you give him? >> well i think it is really a one-person race right now with donald trump if you look at the polls. he is at 53%, with 30% lead over ron desantis. that is a big hill to climb but then everybody else it is a mount everest size mountain to climb and the question i think governor kristi noem asked it correctly how will you differentiate yourself because all the candidates will run on trump policies because they worked. the question who will be the

person best-suited to implement them again and carry it forward and do people want the original donald trump or do they want someone that may have a different smile a different tone, a different style. that is really where the voters are going to have to decide. neil: you know you think about it, marc, iowa plays to the vice president's strength. it has strong religious base of voters who have a great fondness for the former vice president. iowans can surprise you with some of their picks over the years and i'm thinking as well that right now what seem the like a huge lead for donald trump at least in the buckeye state is down to 10 points over ron desantis as we speak. now that can change. you often reminded me of that polls do change but where does the former vice president fit into that? >> well i think the biggest thing for any of the candidates including, including vice president pence is organization. because the iowa caucus is not your traditional election day.

it's caucus which means you have to have feet on the ground, people going door to door, neighborhood, to neighborhood, to get people who support you into the caucus sites. that is really where we've seen a lot of big-name candidates fail before. they might have big fund-raising numbers, the big message, the big name, but they can't deliver boots on the ground. donald trump does have a great team on the ground. he has had them there for many, many years. mike pence has been there for a very long time. so for all of the other candidates who do you have organizing your caucus strategy and how well and you execute on the day of the iowa caucuses. neil: we're told with all the money ron desantis has, and it could be over 300 million when all is said and done when you include pac money and like, he is not pouring it into tv commercials yet but pouring into the door-to-door campaign. i look what he took at first 24 hours. he is substantially over that

now how do you feel candidates target dough in a state like iowa? you're quite right, it is not like a primary state. >> that is where you have to balance it, paid canvass are paid people going door-to-door are really not as effective as having people who are truly loyal to you. i remember candidates in the past who have paid people to go door-to-door and they're sitting at starbucks and they're just logging phone calls rather than actually getting out there and doing the work. so that's where having years of head start actually helps. so someone like a mike pence, someone like donald trump, who have been there over the course of many years have well-established names leading those efforts. that puts them at an advantage whether someone who is flying in at the last minute might have a big bank account but can you get it with real people who know iowa, know those neighborhoods, can get those people into the school gymnasiums, into the rec centers on caucus night.

neil: marc lotter, good to see you. we'll see how it plays out. meantime i don't know if you heard ken griffin, the big hedge fund billionaire, he says we're getting a little healed of our investing skis when it comes to artificial intelligence. it might not really be worth all the hype that it's getting. i wonder how a key player in this feels about that, after this. ♪.

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we know it. coincidence? yes, it is discuss coincidence but you get my idea for the drama going into this. i'm very happy to have katie with us a emmy-award-winning consumer tech expert, brilliant songwriter. she is not of the same mind as ken griffin, the hedge fund billionaire, you know what? we're getting ahead of ourselves for the i have a eye thing. forget a threat. a scant threat and maybe not a big financial plum it is mate out to be. katie disagrees. good to see you. >> it has been a long while. i missed you, neil. neil: let me get your take, what is interesting about your background, savvy invest, tech expert. you're a songwriter. >> yes. neil: this technology can write songs. >> i've been in consumer technology for 20 years and i have never seen something accelerate so quickly in some different sectors and having that unique vantage point, giving you an example of my tech world and my music world merging

with a.i., you sit in nashville. one of the coolest parts about writing songs you all sit around, you're very vulnerable, putting things on paper. you're popping lyrics into the chatgpt populating in seconds. you asked me during the break -- neil: tell me how that works katie. >> asking for a song about specific break up in a bar, knee on lights, boom just like that. neil: that could put, not that you would ever be put out of business, that could dismiss everything you've been doing on your own? >> it is very polarizing. that is the question at hand here. like if you have tools, you have to know that they exist, and you have to use them to your advantage, if you can't beat them join them, you have to at least know what is going on but at the same time what does that do for creativity? for the other side of the coin, for spotifies, apple music of the world, you can pump out music faster. what does that do for sales? so many questions afloat here. the way it permeated a.i. so

many different sectors from the news i can side, from the education side, to the health care side i have been absolutely blown away and i have been covering this for several years and worked closely in the a.i. sector. i'm amazed how it has become democratized. it has never been in the hands of consumers like it is now. neil: doesn't seem like its in the hands of the human, now, so quickly i wonder if it taking over the world? >> it is machine learning. fixing itself on the fly. it is machine learning behind the scenes. neil: was it clumsy doing songs? >> it is very objective a lot of singer songwriters, this is ridiculous, where is the creativity, where is the vulnerability? but at the same time lyrics are subjective. whether you like it or not but also i think the other aspect of a.i. coming into this is the algorithm. it knows what is on trend on tiktok, reels, instagram. it can actually populate music

on the software side very quickly too. it is not just the lyrics. it is instrumentation. it is filtering. it is capability to take someone's voice -- neil: take advantage of this, katie, you have a lot of smart guys who come in and say calm down, we're get being ahead of ourselves here. this isn't pay dirt right away. where do you put your money? what do you bet on, who do you bet on? >> i tell you what, if elon musk and some of the top players in a.i. that have been so deeply and heavily embedded in it we all need to take a pause that would responsible thing to do, heaven forbid we do that the ship sailed. neil: china not taking a pause. >> china is not taking a pause so aren't we. neil: elon musk taking a pause. >> the responsible thing to do is to what he is calling for. take a second, reassess, but it is never going to happen. neil: don't these technologies have a way of, of just doing what they want to do anyway?

thed is, the cynical, scary idea paranoid idea they have a life of their own, pursue something on their own, whatever you're doing, they have long moved past human beings? >> anyone with a internet connection, to use different example we talk about world of "deepfakes," phishing scamming everybody easily accessible to call somebody, take a snippet of your voice, take a few frames of you, able to replicate you and send it to family and friends i could dupe them right now. neil: really? emails and texts that would come in very handy with me, a generic response like i'm busy. no. for songwriting i think of you, taylor swift getting thousands of dollars a person a seat at this concert what if people find out everything, not that she has, she is a great songwriter in other own right it can be done through the technology are they going to pay the same

amount? >> that's the million dollar question. people are saying what does that do in terms creativity, what does that do in terms of royalty, and what about doing sings through a.i. neil: what about your songs, brilliant songs, who gets the money for that, you or that computer next to you. >> a lot of artists are doing a 50-50 split on royalties. hey if you come out to give me a good song, you use a.i. to pope late the lyrics i will split it with you. is that a smart thing to do? probably. neil: that is a brilliant thing. >> you wouldn't have the song or royalties to begin with if the song didn't existed so why not split i. take advantage of it. neil: you respect toughly agree with mr. griffin. >> wholeheartedly. i do. neil: that is find you have a past to prove it. katie linen doll, emmy-award-winning consumer tech expert. i don't think he has written a song, mr. fancy hedge fun

billionaire. i want to show you what is going on outside. a lot of smokes, a lot of problems, this is pretty much analogous to the surface of mars. on the right of your screen is the surface of mars. on the left of your screen is a city a whole like like mars, in other ways besides smoke filled. we report, you did, after this. ♪. your record label is taking off. but so is your sound engineer. you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates

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11th or 12th, depending how you look at it, that is how many republicans are vying for president of the united states. doug burgum is unique as north dakota governor. created great plains software, made millions many times oversold it to microsoft. he knows math if you need numbers in and numbers out eventually to get the country back together. john thune, south dakota senator, minority whip. he is backing tim scott the south carolina senator for that top job. senator thune with us right now. always good to have you. >> thank hey, neil. neil: what do you make of this crowded field? >> seems like a lot of candidates sense an opening there. i don't know what that says about the front runners in the pack but clearly there are a number of candidates who are entering this race under the assumption that it's a wide-open race. so we'll see. i mean you know, how much any of

these candidates get traction, i think there will probably be a breakout moment or two, somewhere along the way, maybe in one of the debates, but i certainly hope that tim scott is one of those breakout candidates. i think he provides a wonderful alternative for republicans around the country but, there are lots of other good candidates that are entering the race. we'll see where it all goes, neil. i guess that is why you know, they pay you guys the big bucks to cover all of this stuff. neil: you know i just found out the other anchors here, senator, were paid and i am so annoyed. but i digress. senator, you're one of the few people not running for president right now. looking at the crowd as you see it, do you ever feel tempted in your inner thoughts, man, i'm better than these guys? >> well you know john mccain always famously said that every senator wakes up in the morning, looks in the mirror and sees a future president. the only thing that cures that is embalming fluid. i'm not a, i'm not somebody who

aspires to that job. certainly not at the moment but there are good people who do. i'm glad there are people who are entering the race who have a deep passion for this country, a deep passion to make a difference and like i said, i think we can, some of them can get some tracks out there. of course in my view i would love to see tim scott be that guy. neil: if i can digress and talk a little bit about the student loan thing back and forth here, there are a lot of conservatives, freedom caucus, not all of the freedom caucus, some of vocal ones ticked off that kind of continue as little bit. might have been a signal by kevin mccarthy waiting for the supreme court weighing on this, some of them want his head, some want him out, what do you think of all of this? >> i think you're talking about the, you know, what they did in the bill last week. neil: right. >> they at least ended the moratorium on repayment of these loans which is a step in the right direction. now hopefully -- neil: but they didn't stop the

other part which i think you're just referring what the supreme court will take up and continue. >> we hope that decision is coming soon, as early as tomorrow, i hope that wipes everything out. this was unconstitutional the power grab on the part of administration, transfers debt from 87, 13% of the people in this country to the 87% who don't and this was a political move on the part of this administration. i think designed to buy votes. in the end i hope that the supreme court does what it should do, that is to wipe this out and force the administration and people in this country again, who you know, the 13% who are being subsidized by the 87% of american taxpayers who don't have student loans to start paying them back. it sends all the wrong signals and you know, clearly this was something that in my view, not only exacerbates inflation, you know, adds to the clearly adds to the debt, maybe upwards of a

trillion dollars if his policies were allowed to fully be implemented and also it just, it creates incentives for people to take on more debt if they think they are from the going to have to pay back the debt they already owe. i think this is a totally wrong and i hope the supreme court finds that to be the case and that decision is coming soon. neil: you know, many come back, some of these candidates, who are running for president, senator, come back and say, well some are leaders in this race like donald trump and they are fine ones to talk about getting debt under control and all that, it ballooned even pre-covid under who is to say that even a republican president working with the house will ever get a handle on this? >> it will take a good amount of political courage. ideal hi would happen at a time of divided government but that seems unlikely. donald trump of course said he will not touch social security

or medicare. those programs and a few others constitute about 70% of all spending f you take that off the table, defense off the table, that leaves you 15% to actually find savings. the challenge they had in the house of representatives with the bill that they passed last week, that we passed in the senate, they did a good job of actually starting to bend the spending curve down, did it without craze raising taxes, creating new programs, found trillion 1/2 dollars of savings, to really balance the budget, neil, to deal with the debt and deficit we have to figure out ways to make manadatory part of federal budget that 70% of federal spending is pretty much untouchable we've got to figure out waives to make those programs sustainable to reform them and make them cost less. that is what we have to do on the spending side. obviously on the revenue side get the economy growing at a faster rate. have pro-growth policies that increase investment and when people are investing and the

economy is growing, expanding, taking realizations, paying taxes, tax revenues go up. it will take both but will take a president who is willing to lead on this issue. this one isn't. i hope that we have one in the future starting in january of 2025 that is because otherwise this runaway debt that continues to explode, $31 trillion and growing will just choke us purely in the amount of interest that we have to pay to finance it. neil: i always tell my kids, it is on you guys. dad's checking out but maybe you're right. we'll see how that goes. senator, thank you very much. >> let's hope so. thanks, neil. neil: john thune in our nation's capital. let's go to taylor riggs right now what is coming up on "the big money show." taylor: neil lots coming up. shannon bream on what the economic angle needs to be for all the gop candidates entering this very crowded field. senator mike crapo is joining us

desperate to hear his thoughts given his position on the finance committee, whether he agrees with sec suing binance and coinbase as well. his opinions on crypto. first more "coast to coast" 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 wants to buy a mansion in florida when you can buy an island to go with it? that is all the craze these days. i don't know how many they have in florida but this is eye-popping. katrina campins, "mansion global," she is the host. katrina, what is this all about? >> neil, thank you for having me. tonight we'll premier a private island in palm beach. everybody knows that palm beach is the place to be. it is the market that gained a tremendous amount of appreciation during covid. this private island is one of one. this is a legacy property. will be in someone's generation for years to come. it is on 2.2-acres, 360-degree views, 28,000 square feet, 11 bedrooms, 22 bathrooms, a tennis court. a guest house. can only access it through either a bridge or a boat. tonight we premier this property. it is one-of-a-kind. i joke, everybody wants one of

one. this could be the one for a very lucky buyer. neil: it is -- finish that thought, i'm sorry. >> i was saying neil, developed by todd glazer is reknowned builder here and developer. this is his legacy development now. so someone will be very lucky. neil: you know, florida itself, while it hasn't been impervious what is going on the rest of the country, it held up very well. what is going on? >> neil, florida has held up very well. you and i have been discussing this for years. it seems to be really the market that continues to do well. it is leading the country in appreciation. the numbers were released and florida's year-over-year growth was 7.7%. tampa was right behind it. so the migration continues to the florida market. the main issue right now around the country is really inventory. we only have 2.9 months of inventory in the market with existing home sales. neil: right? because a lot of sellers are,

potential homebuyers may be sellers don't want to lose their interest rate which is less than 6% and trade it up for something that is well over 6%. so there is really a buyer seller stalemate right now in the market and i think that is going to continue until we get more inventory into the market. builders are now entering the market but they're doing it very cautiously, right? we are in the midst of definitely a possible recession. they will but i do think that the housing market will continue to climb just at a slower appreciation and we will have some bumps along the way. neil: you have been very prescient, you look good in the million dollar mansions. katrina cam pence. "mansion global". puts it all into perspective. jeff flock joins us for a report, before he put as bid on property, a transformer shortage likes we haven't seen in some time. he is in pennsylvania on that. hey, jeff?

>> have they got electricity in the property. i hope they do? i hope they got their transformer. i'm in a housing vet meant outside of philadelphia, transformer are underground, they're above-ground but electric is run underground, people say what is a transformer? most know what you look like because you've seen them on the power poles. that round object up there looks like a trashcan or something, that is the transformer. transforms electricity into something you can use in your house. the problem, a huge shortage of them right now. why is that? well, i'll tell you why. i won't tell you. i will let somebody tell you. the power industry. it has to do with the green agenda. listen. >> steel used to manufacture things like solar inverters are likize utilized to manufacture distribution transformers. the policies advancing those types of clean energy solutions unfortunately distribution transformers have taken a hit

because they utilize the same types of steel. >> reporter: so premium on that steel, neil, which were a lot we're getting from china. consequently we don't have enough. there is a three month a three-year wait for some of the transformers. so some of these housing developments can't move forward because they can't get connected to the grid. if it is not one thing it's another. neil: you're on top of it all. jeff, thank you very much at that florida mansion purchase. jeff flock following all of that in pennsylvania. the latest with crypto. everyone is piling on but they're kind of holding up after this. your best defense against erosion and cavities ..

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because this team all has chase. smart bankers. convenient tools. one bank with the power of both. chase. make more of what's yours. neil: with a lot of crypto plays, as soon as the sec is announcing it is suing key players, they held out despite that, what to make of that with scott martin. >> it is a pretty wild day. that are necessary reaction to uncertainty that plagued the crypto market over the last several years with respect to regulation and lawsuits. you will see a lot of volatility encrypted going forward as an investor but what i pledge to our investors is watch for these dips. as we are seeing these days these dips begin more rallies. those are times to buy in when the prices fall. neil: what do you make of this

genre of investments? it is supposed to be rogue investment choices but with the regular market doing fine isn't that testing them as well? >> there's correlation to the regular market as you put it, but there's a lot of, say, smoke and fog to pick through. today the only day i am going outside to smoke cigarettes to feel better than breathing the air around me. picking through the smoke is the way to be a better investor in crypto across-the-board. neil: you are a machine. i apologize for the truncated time. great seeing you. we've got the dow moving up, cryptos not so much. "the big money show" is on. taylor: i'm looking at this guy behind you but is this your excuse not to go running with me outside