ashley is gracing new york with his presence today. >> you're welcome. >> we'll let him go first. >> thank you. i will go with the two cent piece. stuart: because you never seen a two cent piece. >> exactly. stuart: what have you got, lauren. >> i was going with the two september piece. stuart: i will go with the nickel. i don't flow why i'm going with the nickel. yes, the two cent piece. in god we trusted was first printed on the two cent piece on april 22nd, 1864. >> have you seen it? >> where you put your two cents worth. >> i don't know. i made it up. stuart: is that it? you got me going. our time is up. but "coast to coast" starts now. ♪. neil: man, oh, man, so many stress tests so little time. we're on top of them, including

test for russia and test for markets. so far we're passing with flying colors. more on this in a second. bank stress test this week to see if they hold up to more bloodletting if it comes to pass. that will be a big test. the big test, what whose been incredibly strong first half for stocks. the stress of trying to repeat all of that welcome, everybody, happy monday, i'm neil cavuto. let's get right to it. stress number one, russia. the possibility we could have had a coup over the weekend. we never did. a lot of people can't find vladmir putin. don't know what he is up to. don't know what the future of russia looks to. edward lawrence at the white house with more. edward. >> reporter: a wild 48 hours. vladmir putin possibly staying in st. peteburg. he actually left russia. this coup attempt, speed to which it raised to the a coup, possible coup surprised everyone. really officials here at the biden administration. that coup attempt is now over.

it stopped 120 miles from moscow. the wagner group chief. yevgeny prigozhin seized two large russian cities used as staging areas to invade ukraine. he then sent troops towards moscow with little pushback. even had some russians cheering on the wagner group. former secretary of state condoleeza rice says this shows internal weakness in russia. prigozhin said what is unspoken by those who supported the war. this is a war that did not have to take place, where hundreds of thousands of russians did not have to die. where a million people didn't have to flee the country. that to me is the most damaging thing prigozhin has done. >> reporter: russian president quickly making a deal that prigozhin said ended any military bloodshed on russian side. he never intended to over throw putin, but hold the military accountable. the relationship between china

and russia in a meeting in bejing to assure the china nothing has changed. they issued a statement, supporting their national security, russia again a strategic partner. experts say the message was for the russians the chinese foreign ministry issued a statement yesterday afternoon backing stability in russia indicating that china regards russia as an important strategic partner. i think that chinese endorsement more than anything was something that putin regards as vital to his rule. >> reporter: the white house still watching those tense situations overseas. back to you, neil. neil: thank you for that, edward lawrence. a lot of attention being played right now with prigozhin and possibilities he is in belarus and everything said, markets, everything else, heed other issues came up with prigozhin there, as one advisor reminded him, referring to prigozhin i

wouldn't stand near any open window if i were him. as for investors, that is fine for the time-being. they're taking all of this in relative stride. ted weisberg, seaport securities president why that might be. why do you think, ted? if this market was panicked with upheaval in russia, with more nuclear weapons than any country on the planet they have a funny way showing it. >> neil for all the unknowns, unknowns equals uncertainty and equals volatility but clearly as a result of events at least in russia the markets have pretty much shrugged it off. it is sort of a ho-hum day so far. neil: what if it weren't, ted? what if we get wind vladmir putin, we haven't heard much from him, anything i believe from him since all this erupted you know, he beat a fast leg out of moscow i believe to st. petersburg, no word from him? what if the government is

toppled there? then you have to wonder how markets the world over respond, not just ours? >> well you know, clearly for the moment the markets have pretty much shrugging everything off but if in fact it evolved into some sort of real dramatic change, something that nobody has anticipated including the markets, then that's a game changer. we'll have to see how and if that plays out but for the moment, you know the markets have a funny way of digesting this news. neil: you're right. >> rather quickly and we reducing it to its lowest possible denominator. perhaps that is shortsighted but clearly for the moment, i don't want to say it is a non-event, but clearly it's big event or could develop into a big event, as far as the markets sort of ho-hum. neil: you know what's interesting too, and you and i have been through this rigor before owing maybe to our

wisdom, aka age, but we have these summer jolts for the markets, right? i can remember the russian ruble devaluation of course in the 1990s and how that whipsawed the markets. the asian contagion thailand bot and its currency, saw the market countyless invasions, countless acts of civil strife that seem to pop up in the summer, what is it about this time of year? >> well you know what they used to tell us sell in may go away. may was a pretty decent month. june so-so. i think as far as the time of the year, neil, we're just a couple of days away from the first half, the end of the second quarter. then it is just a matter of days we get into earnings season. the analysts and the companies have been pretty good at gaming the earnings, so the end result of that the markets usually take on a positive tone during the earnings season. neil: yeah.

>> at least in the very short term, neil, geopolitical events aside the focus is going to be the end of the quarter, the end of the first six months and second-quarter earnings and that clearly short of something dramatic outside of that happening this is going to be the focus and of course we don't know how that's going to play out, but chances are better than folks expect. neil: generally is, when all said and done but we'll see. we're putting together a first good after, unless it goes kablooey by friday. the fact of the matter nasdaq is up almost 30%, the s&p 500 almost 14%, the dow just under 2%. now the pressure to repeat that in the second half or better. what does history tell us especially when the backdrop for this you talk about stress, is another bank stress test to see if they're up to absorbing the simulation of another meltdown? >> let's not lose sight of the fact, neil, that yes, the s&p

has been put on a very good performance and the composite even a better performance but we can, we can place all of the blame if you will on a handful of very high-profile tech stocks that have more or less driven those averages to the positive performance that we've seen. neil: true. >> the vast majority, the vast majority of stocks in my opinion are floundering. yes, you know you can find positive examples in that group but for the most part, most folk unless you happen to own meta, unless you happen to own apple or happen to own tesla or all three of them, it has been a bit of a struggle for the first six months of the year. it is kind of a actually of two cities and a lot of folks have been struggling but the good news is, neil, i think with all of that, unlike 12 or 13 months ago for folks that don't know what to do at least there is a place to go with idle cash and

that has been the short term treasury market or even the money market funds, where you can get four, in the case of short-term treasuries more than 5% basically riskless. so if you don't know what to do, sometimes the best thing to do is simply to do nothing but at least now as opposed to 13 or 14 months ago you're getting paid to do nothing. neil: yeah and a nice amount too, four or 5% backed by uncle sam. not too shabby. great to see you as always, ted weisberg. this thing erupted, we were watching it saturday as i was doing my show on fox news, there was great concern how it woe whipsaw the market and energy front how the prices would go rocketing. briefly in quick reaction that was beginning to happen. since all unwound, but again it is still early. looking at oil and gas prices they're kind of holding their

own right now. phil flynn on that, the significance of that, what do you think? >> i think it is very significant and right now the oil market is betting nothing will happen when it comes to russian oil exports and that the biggest key thing here right now. in fact the failure of sanctions on russian oil is one of the reasons why the world is not undersupplied right now. russian has been able to export oil, get around sanctions, exporting more oil now than they were before the war. if anything happens to stop that i think the world's going to be in a lot of trouble. now right now there is more questions than answers. was this a coup? was it just a military short-term situation? is everything going to calm down? right now the oil market is betting on that. it is very tense. the traders i'm talking to are very nervous and willing to jump at the next headline. so it is going to be very critical, especially for the next 24 to 48 hours to see exactly where this is going.

to see if it will blow up into something substantial or turn into a nothing burger. neil: yeah, because that's what happened in prior instances of global disruption, right? you have a runt-up in energy. run-down as things cam down. phil, we'll keep a close eye on it. we're waiting to hear from the president. he might offer first measured comments on this. let's go to colonel keith kellogg what he thinks we should say and what he thinks we should do. how are you, my friend. >> thanks, neil. anybody who believes they know what is going on in russia with this coupe attempt, they just keep quiet on it. russia has had coups before. 1970 alexander, 1991 with gosh chef. what you have four protagonists. obviously president putin. secretary of defense shogu, chairman of the joint chiefs, running military operations in ukraine and prigozhin runs the

wagner group. the wagner group is very good group, well-trained, hard-hitting group. got involved in bakhmut, lost thousands of soldiers there. prigozhin got upset, with drew his sources. the city to the southern military headquarters. took over headquarters that runs the fighting in ukraine. then he put a column on the road, m-4 highway heading toward moscow. they took off under a guy who was wagner named after. that was his call sign when he first started. prigozhin has column moving forward. shooting down helicopters russian. shooting down command-and-control aircraft. all of sudden, spinning towards moscow. one obstacle to get toward moscow. moscow is only defended by national guard units, super police. they could have pull this off. putin saw what happened. brought lukashenko, and talk to

prigozhin. he stopped forces going forward. i believe they were inside of the decision loop for the russians. he had a chance to pull this off. reminds me, neil honestly, reminds me i had a dog who used to chase cars, every time he came back we asked what would you do if you caught it? they nearly caught the car. they figure out what is going to happen. you don't see anybody visible. where does putin end up in. where does shgu and what is prigozhin doing. that is competent lethal military force, probably one of the best military forces russians have. it is coat these sieve unit. it has armored vehicles. as a aside, i watched they were moving forward. it was pretty smart. they got tanks, on heavy equipment transporters with extended fuel tanks. put troops inside of the tanks which is very unusual but very

come pat effective. i was thinking these guys know what they're doing, they know how to fight. everybody needs to sit back to see what is happening this is not a false flag operation. you don't project -- neil: anticipating this was an attack. just don't know. the president is addressing this issue. let's go to the white house. general, if you could stick around, i want your reaction what he says. president before i have begin let me say a few words about the events in russia. excuse me i have an allergy. the situation began to develop as it did. i directed my national security team to monitor closely and report to me hour by hour. i instructedded them to prepare for a range of scenarios. i also convened our key allies on a zoom call to make sure we're all on the same page. it is critical that we're in a coordinated in our response and coordinated what we do anticipate. we agree, they agreed with me we

had to make sure we gave putin no excuse, let me emphasize, we gave putin no excuse to blame this on the west or blame it on nato. we made clear that we were not involved. we had nothing to do with it. this was part of a struggle within russian system. i also talked at length with president schedule zelenskyy of ukraine, keeping in talk with him today and early tomorrow morning to make sure we continue to maintain on the same page. i told him no matter what happened in russia, let me say it again, no matter what happened in russia we in the united states would continue to support ukraine's defense, sovereignty and territorial integrity. he and i agreed to follow up and stay in constant contact. i'm also in constant contact with our allies to maintain our coordination. i will be speaking with a head of stay right after this meeting today and making sure we're on the same page. didn't get a chance to speak with one head of state yesterday.

we're going to keep assessing the fallout of this weekend's events and implications for russia and ukraine but it is still too early to reach a definitive conclusion about where this is going. the ultimate out come of all of this remains to be seen but no matter what comes next i will keep making sure our allies and our partners are closely aligned in how we are reading and responding to the situation. it is important we stay completely cord coordinated. i would like to turn to today's announcement, begin by asking a question, did you lay all of that cable? [laughter] "wonder woman," i was watching in the other room. neil: ostensibly the meaning for the address prior to the russia issue was president's plan to commit better than $42 billion expanding faster internet in rural areas. we'll continue monitoring this but back to keith kellogg right now. the president more or less saying, general, you heard as well as it is still too early to

reach a conclusion. staying in touch with our allies. those are all sort of checklist things you say when something like this is going on but the bigger question is what about putin? does he know or anyone know where putin is or what's next for russia? >> well you know, neil, one ink thing he didn't do i think i would have recommended to a president, they have got a hotline. pick up the hotline and call him. say what is going on? i mean, the fact that you're ignoring an adversary somebody who has got more nuclear weapons than anybody else in the world is going through an attempted coup and is fighting ukraine, not having contact with him is foolish. always talk to your adversaries. i think you should never not talk to them. i, if i was recommending anything to president biden is pick up the phone, find out what is going on. talk to them personally. see what is happening. you get a feel for the operation. otherwise we're flying blind. that's what we're doing right now.

it is real clear to me that is actually what is happening in our intelligence community and our military community as well. neil: you know, general, the question besides what happens to prigozhin right now in belarus, what happens to the wagner group and it seems to be unwinding just going from that 11 minute audio that we were getting from prigozhin, the leader of the wagner group, he seemed to indicate that was the case, that this mercenary firm, was quoting here, bound to cease existence on july 1. so it goes away and to your point it is one of the few element militarily was effective, brutal but effective, then what for russia? what do you think? >> i think i don't believe it. look that is probably one of the most combat capable forces, organizations that the russians have that they're able to call in. they have called them in when they had really tough fight in bakhmut. they actually took the fight to the ukrainians there i think it

is foolish to say that i think if they don't come up with some other name or form but this is an organization that is also very closely aligned with the russian military. they are the same bases. they get the same equipment out that they have got. the same kind of training that they get. so i don't like see that happening. i don't know why you would get rid of an organization that. the real key guy behind all of this is this guy second-in-command to prigozhin. prigozhin is the financeer. the jury is still out on on this. it is interesting to watch this week. we'll see what happens if somebody surface i would not discount the wagner group as a fighting force, it is still intact, it is still useful. the russian prime minister was on the wires awhile ago, russia must remain aligned behind putin. what other are pr line, put tin

is in charge, russia is okay, calm down, things are fine, this is all going to plan. i'm sort of paraphrasing. what do you think? >> yeah, well the other guy, there are two people i would be watching real closely. a guy who is national security advisor and medvedev used to be the president of russia. they're both hard-liners but they're standing in the wings out there. i would say okay, how that is being played. do we have any comments from the national security team anything from medvedev. so i, you're kind of looking how this is all playing itself out. but again there was a very real coup attempt. there is no doubt in my mind they could have pulled it off if they kept pushing. let's just kind of see. i think everybody is cautious which i think is smart because we really don't see how it is going to end up. i'm reminded of a there is a military phrase, the first report is always wrong. so let's wait until the second report comes in and find out exactly what's happening. neil: we might not know that very quickly. so i then i ask you the question

about china which is in this awkward position, probably being embarrassed by these developments wondering what with very gotten into here but pushily saying we support russia, et cetera, et cetera. what do you make of how they're handling this? >> president xi i'm sure will not create any professional military forces like wagner group. i don't think that will happen in china. i think he is waiting, watching with his junior partner in putin to see what is actually going to happen. he actually has no control of this. he basically has to stand back, watch, make guess whatever happens. all along, neil. neil: i said china is the senior partner in this. they're accepting what is happening in ukraine with putin but i don't think it will drive anything, will do anything that will influence action at all. xi is very cautious when it comes to things like this. he is a very shrewd individual, i think he is saying okay, putin, you're on your own on

this one. neil: thank you, my friend. i always learn a lot not only with your expertise but incredible service to this country. thank you. >> thanks, neil. neil: we're getting more from mr. prigozhin, guy who runs the wagner group, whose days might be numbered not his specifically although that is a fear in belarus what he is talking about for the wagner group, apparently hours after speaking out against the defense minister sergey shoguv the general was referring to, saying the country will be better off in the longer term for what he did and what his men did. said that there were enormous mistakes made by russia in the war in ukraine and that this was an effort to prevent the destruction of his mercenary group. he also said we did not have the goal of overthrowing the existing regime and legitimately elected government. emphasizing again, we didn't want to spill russian glad.

but that did happen. 40 russian soldiers at a minimum are dead. we just don't know how it broke down on his side and government 's side. stay with us.

neil: environmental social governance, become a buzzword, esg. meant those who want to illustrate, stick to that, consider the environment, some of these other issues, social issues and the like into corporate governance. it is so controversial another company and others are backing away from it right now, saying it is become sort of a lightning rod issue including it would seem blackrock. lydia hu is following all of that and has the latest lydia. >> reporter: neil, we're hearing from the ceo of the world's largest asset manager and he says he is quote ashamed of being a the past the esg debate. these comments were originally reported by "axios."

they were made by larry fink blackrock yesterday at the aspen ideas festival. during another part of the conversation fincke tried to backtrack his remark but he said he isn't going to use the term esg anymore claiming it has been politicized what he calls the far left and the far right, quote, i don't use the word esg anymore because it is entirely weaponized. so in my last ceo letter the phrase esg was not uttered once because it is unfortunately politicized weaponized all of that, and our business was hurt. we lost $4 billion of mandates because of 90% misinformation. a representative of blackrock declined to comment but told me these comments do not mean blackrock is changing any investment strategy pointing out that blackrock works for its clients and invests accordingly but comments, neil, become as republicans slammed blackrock's

bullish approach to esg with woke agendas over profits. nearly a dozen gop states divested from blackrock, according americans for tax reform, pulling $4 billion from the asset manager. two dozen other gop led states earlier this year sued to block a biden administration rule allowing 401(k) managers to consider esg when picking investments. there are currently, neil, 74 anti-esg bills pending in state legislatures across the country, according to law firm morgan lewis. despite the divest meant of self billion dollars from blackrock, larry fink says last year was one one of the best ever for the firm. measured $400 billion of inflows, more than half coming from the u.s. back to you. neil: he is not saying he is not using esg investment strategies, not saying it right? >> reporter: that is exactly right. he is not using the term

anymore. it is too politicized. nothing is really changing in their practices. neil: amazing. good reporting lydia. let's go to bill pulte, pulte capital ceo. that was not the original intent of our discussion is this esg debate, is it overwrought, overdone, how what do you think? >> depends how you define it. one thing we need to figure out in the next five, 1015 years in this country what are the zoning laws going to be. in many cases we have to be careful with turtle on the property. environmental issues. on one hand you want to save the turtles. on other hand you want places where people can live. it really depends what you're talking about when you talk about esg but i think homebuilders are very familiar having to deal with these environmental issues maybe in a way that other people have not had the way to deal with quite yet. neil: it is interesting too, in the case of blackrock, simply

because they will not use the term doesn't mean as our lydia hu pointed out that they're still not going to invest using that strategy. what do you think of those who do? >> i think that, you know, it is going to be tougher and tougher to either say that you're either on one side of the aisle or another side of the aisle. neil, as you know i have a big following on twitter. i tell you every time this stuff happens you see fighting going on between both sides on twitter t really begs the question what do these corporations going to do? who do they cater to? do they cater politics? do they cater more towards shareholders and customers many in cases on the other side of the aisle. so i don't think this debate is going away anytime soon. i think it struck a chord with this whole gse thing. neil: focus on your niche, take it from there. you were mentioning the whole building arena, what is going on there, what builders have to consider, i wonder whatever the

headwinds coming their way, whether could be some environmental matters or for that matter higher interest rates, for more pressing after concern, it is holding up remarkably well. would you have envisioned that 0% interest rates 16 months ago? >> no i think in many ways to be honest interest rates are tough. that's true but i think you're exactly right. that environmental concerns are actually constricting supply. then you have the federal reserve which is locked in these low interest rates for all these homeowners, to your point, neil, it's hot market now. we put just shy of $12 million into the alma mater company, pulte group. we're putting money into where our mouth is, we're investing back into the industry, we think the supply dynamic, with the fed locking in everybody's rates it makes it pretty interesting for a long-term hold, neil. neil: i am wondering what you think the fed will do. they passed at this latest

meeting. they seem to be tell -- telegraphing one or two more hikes this year. where are you on this? are you afraid about it, what do you think? >> i think it will cause a lot of problems if they keep raising. i've been saying that for a while. i think this stuff takes a long time to catch up. elon musk got twitter to talk about it. in terms of housing i think in some ways, neil, these rates are not mattering as much, homebuilders are buying them down or the supply dynamics. think it will be a pretty tough deal if they keep raising rates. at some point there may be a straw that break a housing camel's back. neil: there is point of diminishing return. thank you so much, bull pulte, following developments, pulte capital ceo. on this show we talk a lot about a.i., artificial intelligence how it is moving so quickly but getting involved in heart surgery? yeah, heart surgery after this.

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1-800-763-2763. that's 1-800-763-2763. ♪. neil: all right, we're learning right now from virgin galactic it plans to conduct its first fully commercial flight to suborbital space on june 29th. it will carry three italians into space. they're expected to conduct more than a dozen experiments. i think this is the first time three italians together have gone into space. they have had three italian astronauts but three of them. i feel so proud of my mother country. anyway, i digress this will take off from new mexico? did you know that is where his flights take off? new mexico. add to that space excitement. as all these guys, private enterprise continues to take over the heavens. we'll keep you abreast of that.

this push towards extreme tourism nothing like what is happening in space but what is happening here on terra firma is quite what it was. kelly o'grady talking about the fallout from the titan sub tragedy. >> reporter: that's right, neil, the titan sub news is shedding light on the industry extreme tourism. some people don't want to relax on vacation they want the thrill of doing something dangerous or new. the tourism industry was expected to explode $300 billion last year. roughly a quart of that represented extreme experiences. the whole industry is expected to reach a trillion dollars by 2030. i will share some examples of a extreme trips, and prices. axiom, trip to international space station if you have $55 million. virgin galactic as you mentioned will begin 90 minute commercial spaceflights for 450,000. a couple others which one i found surprising if you have

$42,000 you can learn survival skills and dropped on a deserted island to test them out that sounds like my worst nightmare. only the very elite can enjoy these services. for them a researcher says the thrill factor says owe says needs to be increasing. >> if i desire risk i need more in the future. the people who have higher economic status have the ability to do the lower level more things more easily so they can progress to the higher level things. >> reporter: there sis a lot of questions whether the titan sub tragedy will impact the industry negative, negatively, rather. experts say it will likely affect people undecided. those who sire to see space will look as this more of an isolated incident. it helps with space tourism lot of well-respected names are leading that charge like branson, musk. bezos. i will stick with pena colads today on the beach.

neil: i'm in that camp, kelly, god bless them. kelly o'grady in los angeles. i know a.i. is moving fast, now involved in heart surgery, it is not quite that black and white. dr. kevin campbell, cardiologist, krock consulting ceo. man he did get us through all the covid stuff with lucid, practical advice. great to have the doctor back. good to see you, my friend. >> nice to be here. thank you for having me, neil. neil: what is interesting about this, you can explain it. this will involve a patient in central florida who is receiving this bio monitor implanteddable cardiac monitor powered by a.i., right? so explain, when you say powered by a.i., what does that mean? >> when we put these monitors in we're trying to monitor the heart rythym over a long period of time. as you might imagine that involves a lot of false-positive transmissions, a lot of really noise in the data. the bio monitor four actually

possesses a.i. that can sort through the data and really make sure that the physician is notifiedonly when there is a significant heart rhythm be be a normality so we can take action. these monitors with people who passed out or fainted increase diagnostic yield by 70% based on the best available data. neil: that obviously before we know it a.i. will be doing these surgeries, much more advanced placing a monitor. what do you say to that? >> you know i think a.i. helps me do my job better, more efficiently. it certainly doesn't replace the training and skill we develop over decades. i think you will see a.i. do a nice of job of chest x-rays, interpreting studies, diagnostic studies but you need a physician with training and instinct going forward. the bio monitor four helps me give my patient the best

possible outcome and best possible treatment because i have more state tax more information that is processed in a very efficient way. neil: you're the one surgically placing the monitor, right? it is not some nefarious robot or something, right? you're doing it, right? >> absolutely. i'm in the cardiac can that is rightization lab. we program the device. once the device is turned on that device is sorting through the data using advanced algorithms and artificial intelligence to determine is this something the doctor needs to know about and is this not and what do we do. it is really something that adds to what i can do as a physician. it makes me better at my job. neil: i have heard, doctor, mistakes that a.i. makes. it could process things very, very quickly but could process them incorrectly. i knew it was bad whether a.i. said he is thin and fit referring to me. i knew that was wrong right

there. so does it give you any false reads on things that you, then have to say, wait a minute, it has got this wrong? >> you know, a couple of things here. first of all, whenever we use a.i. algorithms they are vetted and clinical trials, they are approved by fda regulators. we also do constant quality control. with respect to this particular device all of the data comes to me. i can sort through it. i can look at the intracardiac whether i see implantable loop recorder, pacemaker, icd, it guides me into buckets everything is okay in green. might need to look at this yellow, or it's red, we might need to look at that right away. neil: as long as you're doing the surgery i feel comfortable, doctor, i don't know with the other stuff. we'll watch it closely. dr. kevin campbell. great seeing you again. >> great to see you. thanks for having me today. neil: always enjoy it. go to brian brenberg in a show i

always enjoy what he is teeing up next 15 minutes. hey, sir. brian: neil, the president is out of the basement trying to convince american voters his economic policies are working. florida congressman greg stuebe and jimmy failla all at the top of the hour. first more "coast to coast" after this. ♪ if your child has diabetes, you'll love how easy dexcom g7 is. it's on. and, he's off. you can see his glucose numbers right on your phone, so you can always be there for him with dexcom g7. ♪ ♪

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♪. neil: well this probably doesn't even warrant a "fox business alert," right? you think how busy it is if you ever been to the nation's airports, delayed flights, canceled flights, busy flights to put it mildly. expected ahead of the july 4th weekend to see all travel records broken. we're talking even pre-covid a record number of americans taking to the air and praying they get off on time. we'll follow that. meantime grady trimble at reagan international airport where right now the issue is just dealing with staff shortages and the like that could complicate those travel plans. grady. >> reporter: they could, neil, and the warning from the transportation secretary already is to buckle up because they're

going to be delays and cancellation this is summer for a couple of reasons. you mentioned the staffing shortages with air traffic controllers. that's problem number one. problem number two is the rollout of 5g cell service close to airports across the country. we'll start with the staffing shortages a new government reports finds 77% of critical air traffic control facilities are understaffed and worse the report says the faa has no plan to address those shortages. industry group that represents the airlines says the faa is on the precipice of being overwhelmed if it is not already. that is concern number one. concern number two, is that the major wireless carriers will soon be rolling out 5g cell service near airports impacting the major air carriers. the deadline is set for july 1st. you might remember that was already pushed back once because

that signal could interfere with the equipment on certain planes. so since they pushed back the deadline the airlines have been working to retrofit those planes with the updated technology. still about 20% of domestic planes need the new tech and they won't be allowed to fly in low visibility conditions if they don't have it. secretary buttigieg says this could be the biggest problem causing delays and cancellation this is summer. the airlines have told us that supply chain issues are ongoing as they try to retrofit the planes but they say, nevertheless thanks to careful planning airlines for america members are confident maintaining schedules despite the impending deadline. all of this comes as more and more people are trying to fly. in fact more people as you mentioned in the intro. aaa out with their travel numbers. they say more than 4 million

people will travel by plane this independence day. that is a brand new record, first time it surpasses four million. so we shall see how the airlines fare, neil. neil: if it all goes to plan. thank you, grady trimble at reagan national airport. meanwhile we're keeping an eye on tesla, rest of markets, remember a couple weeks ago it was on 14-day winning streak, since given up some of that ground. not all of that ground with an additional 5% hit today on a downgrade. some of the air is coming out of the tires but not all of it. stay with us. new projects means new project managers. you need to hire. i need indeed. indeed you do. when you sponsor a job, you immediately get your shortlist of quality candidates, whose resumes on indeed match your job criteria. visit indeed.com/hire and get started today.

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an aarp medicare supplement plan. take charge of your health care today. just use this...or this to call unitedhealthcare about an aarp medicare supplement plan. neil: president of the united states comparing himself to to fdr many bringing lek ritz to a lot more homes and the like and also touting something that fdr did not do, bringing high-speed internet to these rural areas. of course, there was no internet many those days. anyway, i want to get art laffer's reaction to all of this, economic svengali, much, much more. he's a modern-day fdr. is he, art? >> in some ways he really is. he's bringing unemployment, slow growth, he's bringing all sorts of despair. now, fdr got prices down

enormously, but with he got jobs down enormous toly too, destroyed trade system in the country. i think biden has done not that much damage, but he's been quite damaging to the u.s. economy and has led to a long-term, sluggish growth very much to the detriment of pooch prosperity. neil: -- future prosperity. neil: i do know where you're coming from, but fdr came in after a worldwide depression, world war ii was a big catalyst, i grant you, but this idea of comparing himself to that, he might be righten on the government spending side of this. what do you think of that? >> well, you know, when i look at the pdr -- and and you are right, it was brought in by herbert hoover, probably by the smoot holly tariff and the big crash when hoover signed it, hoover also raised the tax rates, but roosevelt did not cure the problem by reversing hose policies by any means.

we went through a long, long, long period of devastation, i think in large part because of roosevelt, and i think the last four presidents with the exception of very short period of donald trump, we've had nothing but this same type of devastation. it's been a long time, 23 years now, neil, that we've had extraordinarily low growth, that the a real return on capital has been exceptionally low, and the consequences are flowing out now. we're seeing the participation rates, gdp growth, productivity all at all-time lows. this is problem i think we really face and we need to address. neil: whatever people think of fdr or even the current president, the fact of the matter is fdr's got a template for the government solving a lot of problems. you could argue in the depths of the depression it was warranted, but we've never veered back there from that. it's always been more government and more government -- exactly. neil: some say it stabilizes things, others, to your point, will say it really mucks things

up. a lot of republicans, you know, embraced more government as well. >> yeah. let me just say this is not a republican-democrat issue. neil absolutely. >> you look at nixon, gerry ford and all this stuff, they were big government people. they liked using government, bringing government in, and the democrats have too. st been a bipartisan ignorance that has really gone through land here. you have to expect that. why wouldn't government and government employees love government and, therefore, want the focus pan their activitiesesome just -- and those who have an affinity towards government obviously seek out government jobs, and you get the consequences. only once in a blue moon do you get an administration, a politics that really reverses trends. one of those was john f. kennedy, another was harding and coolidge, and another one was ronald reagan. he did a great job on reversing that trend, and we're just waiting for another moment in time when we get a big reduction in government and a huge spurt

in growth. growth feeds on itself just like slow growth feeds on itself and causes itself to do worse, positive growth really helps the economy and leads to long periods of expansion. neil: all right. art laffer, always learn a lot, my friend. very good seeing you again. >> thank you very much, neil. neil: all right. the former economic svengali, art laffer. and he's very pragmatic. he was a big fan of bill clinton and his tax cuts, the way they were targeted. is so, again, he's just looking for someone who can foster an economic boom. certainly that president did, ronald reagan did, again, whether it's your cup of tea, you can look at it one way or another. anyway, that was then, what happens now as we get ready for a new election, brian brenberg and "the big money show." brian: i could listen to art laffer talk about growth all day long. neil: he's amazing. brian brian hello, everyone, i'm brian brenberg -- can. jackie: i'