tv Cavuto Coast to Coast FOX Business June 27, 2023 12:00pm-1:00pm EDT
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>> i have no idea. i will go with six. stuart: six. why don't i chime in with eight? >> why not. >> why not. >> answer is eight. stuart: genius, baby. i will list them for you. a positive, a negative, b positive, b negative, o-positive, o-negative, ab positive, and ab negative. that is four you got me? >> we got you. stuart: thank you very much for being on the show. >> always a pleasure. great to have arc back here. stuart: great to have the man back in new york city. a glutton for punishment. don't know what he is doing here. that is it for "varney & company." "coast to coast" starts now. ♪. neil: all right. no matter what is going on half a world away in russia, our markets are focused what is going along here.
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fewer and fewer signs these days recession is imminent. hsbc might be forecasting one as soon as the end of this year. but we're not seeing it right now. i will go through the data how we're not see it. welcome, everybody. i'm neil cavuto. we have a curious market development. after six straight down sessions dow is largely reversing itself. most of the data coming in we can avoid recession or any of the hard landing you hear talk about, with consumer confidence at highest level since january of 2022. we've also got new home sales at their highest levels since february of 2022. notice the comparisons back to early 2022. orders for big-ticket items, durable goods items right now, strongest we've seen in may forequite a number of months. not all the news is great. some companies like walgreens are slashing earnings guidance. not as many people are shopping, spending as much.
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taken as a whole, adding to companies like delta, they see brisk demand for even expensive travel, even premium travel, then that is the way that the market is back. let's see how long that can last. sam stovall, he is picking apart the first half data. we conclude that on friday. sam you have been reminding folks, regardless where they are the recession argument, a second half tends to repeat the first half, right? >> yeah. hey, neil. good to talk to you again. absolutely going back to world war ii. i look said if the market is up in the first half, and up by 10% or more as we're looking at right now, instead of being up about 4% which is normal for all second halves, it is up by twice that amount. and, we have a good 13 percentage point improvement in the batting average. frequency of advance. so history is a great guide. it is never gospel. it does imply fund managers who
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are behind the curve will be playing catchup in the second half. stuart: a lot is built on momentum, i get that. there are a lot of stumbles along the way. hsbc and others are right we'll run into a brick wall. they seem to argue of some time in the first half of next year at the latest. what do you make of that? >> well, certainly you have a lot of historical indicators like the array of inverted yield curves. like the, leading economic indicators being down year on year. even an earnings recession usually has pointed to an economic recession. maybe we get it next year. but i think investors are basically saying it is not likely to be happening this year. the fed will probably raise rates one more time in july. but then they will press the pause button. historically the market goes up about 13% in that nine month period between the last rate hike and usually the first rate cut. neil: you know, sam, you and i
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covered many a crisis over the many years. they seem to happen in the summer, right, whether you're talking the russian ruble devaluation back in the late 90's, around the same time we had the asian financial crisis. so many crisis occur in the summer. iraq's initial invasion of kuwait occurred in the summer but the markets tend to at least knee-jerk wise, take it unless they have a reason not to. so far taking the developments in russia in stride but maybe whistling past the graveyard here? >> that is certainly a possibility. there is old saying sell in may go away. neil: right. >> i usually tell investors you're better off rotating than retreating. stick with the market but gravitate towards defensive areas like consumer staples, health care, utilities et cetera. because as you said the third quarter is by far the most challenging quarter where majority of sectors posted
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average declines and so while we could see a digest shun of recent gains i don't think we're headed for a new low in the market. i think that what it is simply going to represent a better buying opportunity for the first quarter and into 2024. neil: throwing this as a wild card development, sam. you endured them the many decades we had pleasure knowing each other, i'm curious what you make how the disruption in russia, now the dissolution of the wagner group and how that could help propel a ukraine victory? if the markets saw an outright win by ukraine and russia leaves, besides the military good news on that, what would the market news be? >> well i think the market would respond favorably because certainly a lot of money being funneled to ukraine could end up staying at home to work on our own infrastructure. we could find that oil prices come down a little bit more
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which then allow inflation numbers to come down even more precipitously. i think the real question might be longer term, what happens to stability of political power in russia? what does that translate to in terms of another global crisis. also you know, how will china respond? there are a lot of wild cards out there, i think at least initially the market would respond favorably. neil: got it. good seeing you again, my friend. sam stovall following all those developments. if he is right, what he is doing on friday could extend into the second half. imagine if we have the exact same performance for the nasdaq up 28%. 56% advance in the nasdaq this year? >> that might be again russ. we'll watch it closely. our other big story how the administration following all the economic news, edward lawrence tipping the hat or credit to the
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biden-nomics. >> reporter: day two of rebranding refresh of biden-nomics. the president has no public events today. he will speak bidennomics at two campaign events in chevy chase, maryland, chevy chase, the richest city in the state of maryland. the president takes the message to chicago on wednesday talking about his vision. americans struggle gel with inflation but this invest in america tour to remind voters, that president biden signed into law $5 trillion in spending. others at white house press corps curious about the messaging over the substance. >> why did you decide to go with that phrase or go with that branding? >> don't like biden-nomics? i think it is pretty clever or pretty good. look, it makes good sense, bidennomics, right, flows off the tongue really well. >> reporter: the white house focuses on this remessaging the
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president forces his transition on the economy, experts say largely the markets brushed off the events in russia as you see there. >> when you look at events like that in russia, the question the market is always going to ask, is there an economic impact. real trithere is just not. it's political impact. it is a geopolitical impact but it is not a economic impact. >> reporter: so today russian president vladmir putin praised his military and security forces for putting down the rebellion. putin says those involved in the mutiny go to belarus, join the russian military or go home. a plain linked to the wagner group chieflanded in belarus. those historically that challenge putin don't have a long life expectancy. president obama is in the build having lunch with president biden. maybe they discuss which name will last longer, obamacare or bidennomics. neil: the bidennomics is a
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tongue-twister. thank you, edward. final story tonight or today look at impact what is going on in russia indeed. we've been following vladmir putin, but for my money, revealing quotes come out of alexander, lou lukashenko saying a lot of curious things striking me as tony sopranoish. belarus authorities will keep close eye on them, the wagner group, when it comes comes to yevgeny prigozhin leader of soon to be disassembled wagner group, his exile in belarus is being examined. rob spalding, former air force brigadier general, author of war without rules. general, what to make of the leader of bella ruse is saying? he is not quite in sync has his eyes certainly on prigozhin and
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a lot of his cohorts who are now in belarus? >> i think one of the things he is in sync with putin who he essentially acted as proxy for. there are two things in politics, money and power. i think this was about money and clearly prigozhin got what he wanted. the problem is now the effective itness of russian fighting forces. i think that is going to suffer. neil: so, general, when we talk about the belarus president saying troops are now in full combat readiness, when the wagner group arrived, obviously that is probably wise, you know, you don't know what these guys are going to do but it, i'm wondering if he is working in concert with vladmir putin himself and vladmir putin has given him the go ahead, if he does anything you don't like, or we don't like, deal with it? >> well, you know, i don't know how many forces prigozhin brought with him if any but if
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he did one of the things i would be concerned about from the belarus president and putin what are these guys going to want to do. they don't want to work directly for the russian military, they will be underpaid and underresourced. they are already upset being underresourced. now you add in underpaid, they have a real problem figuring out what this professional mercenary army will do now that prigozhin has left. neil: that general, raises a question i've been raising with prior guests on this channel and fox news, if you're president zelenskyy in ukraine you want to take advantage of this. we're told, this is coming from president zelenskyy, they're seizing on this void but how do you think this is going to go? >> as they should. the problem i have, quite frankly, it has been consistent throughout this war, if you push putin into a corner.
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he is already wounded clearly politically but if you push him into a concerner, if it looks like catastrophic defeat in ukraine i think we're getting closer than we ever been in modern times to the use of a nuclear weapon. everybody likes to say it is tactical. no nuclear weapons are tactical. my concern what happens? russia is still a formidable nuclear power. i could see situations where we get into something where putin decides there is his only option or only out. that is the thing that really concerns me. because this is going to play out over a long period of time, but that could be a real accelerator to this conflict and the problem is, nobody knows where that might go. neil: no. we don't. that is the big worry. we'll see how it pans out. general spaulding. always great having you. thank you for your service to this country. >> thank you. neil: meanwhile people in the new york metropolitan area, particularly those who own pizza shops are fired up about a crackdown of wood-burning stoves
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for pizza reminding those pushing movement to get rid of them. no comparison between pizza in a wood burning stove and traditional one, now they're making their beef well-known. ♪. ♪ ♪ the biggest ideas inspire new ones. 30 years ago, state street created an etf that inspired the world to invest differently. it still does.
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♪ >> we have the most violent raging crime rate ever. we are being invaded by illegal immigrants who are being treated way better than our homeless veterans. our city schools produce the dumbest kids and [bleep] woke punks ho run new york city, they're afraid of pizza? this is the new york pizza party. give us pizza or give us death. >> give us pizza or give us death. neil: my people, when they get upset. italians are upset. for good reason. they're jacking down in new york, new york metropolitan area on wood burning stoves, the popular way, and probably the
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way to cook the best pizza. but i digress. it contributes to carbon emissions, cut them out, we're all healthier for it. meanwhile this is done by decree outside of gracie mansion where our mayor is, where the cars are going by the thousands any one of them would release more carbon than your most generous pizza pie shop. with us right now the chef restaurant owner extraordinaire. has his roots in the new york area. grew to become rich and happy successful restaurant titan he is. what do you think of this, andrew? >> i mean, look this is so crazy. i can't even believe we're talking about this because, let's just unpack this and assume that we just banned all pizza ovens in new york, right? everything had to go electric. where would that energy come from? well it would come from coal and natural gas to begin with and it would actually be less
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efficient. so in theory it would be worse for the environment if this is what ended up happening. this is all just kind of environmental hogwash and at the end of the day here, this is the another way they create the bureaucracy, have a commission who will study this, they will take taxpayers dollars to make people pay a lot more money in order to get what they want in the restaurant industry, potentially put them out of business. neil: when i first heard this story, i said it is too ridiculous to respond real, but the real goal here is to limit and have buildings designated as coming in at a carbon emissions that you're sort of, you know, putting out there. and, if that means that you have to crack down on wood powered stoves all the rest, so be it. as long as the final number comes in at an acceptable level, deemed you know, healthy enough for human beings. i'm thinking to myself, once you step outside that pizza parlor, you have far bigger issues to worry about.
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what do you make of where this is going? >> yeah. i couldn't agree more. and let's look at this on a global scale. you know, basically we're suffering here and we're punishing our own citizens but then we're off shoring all of this pollution to other countries. the other countries are laughing at us. we have the fictitious number we have to hit but we're all living in the same air around the globe and other countries are not playing ball. think about how many people die every single year as a result of cooking inside of their huts in other countries. why don't we take the time to get the people natural gas stoves so they cook with a safe food source and we can save millions of lives. that is irrelevant to any of these people. instead they try to put 10 or 15 pizza parlors out of business to try to hit this fictitious number. it makes no sense. i'm in a free market environmentalist. i actually think this -- neil: let me get your take on that, if you don't mind, andrew.
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a lot of people say there is no difference between wood burning, cooked pizza and traditional stove styled pizza, what do you say to that? >> well, you need that high heat source, right? so there is a difference. your coal pizza, wood fired pizza, will not just create nice crispy crust but develop the nice smokey flavor if you use the wood fired ovens. i even ad pizza in california, was required to use lech oven, it was a headache. it is nothing compared to pizza ovens pushing out amazing product in new york and new jersey. neil: i was talking to a friend of mine run as pizzeria not too far from where i sit down. born in sicily. i can't repeat the conversation i had. there are a lot of curse words in italian. even in italian i can't repeat them. john, we'll see where it sorts out, if it sorts out, hope it
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neil: all right. just when we thought that evs were on fire, demand was building, they were coalescing on a charging strategy along comes news the ev startup, lordstown, once a savior for and ohio town is now in bankruptcy. where does that go, what does that mean, susan li has more? susan what happened?
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>> reporter: neil, you're right, three years ago lordstown was a ohio savior keeping jobs intact but now the stock is in question. the stock hit record law, a pause in volatility losing half, more than half of its value in the opening minutes. lordstown filing for chapter 11 bankruptcy and suing iphone maker foxconn for $11 million. they're accusing the company acting maliciously in bad faith. in a lawsuit lordstown says after getting valuable assets desired up front, meaning foxconn starved debtor's business starving it for cash causing it to fail. we are waiting for comments from foxconn. foxconn told bloomberg they reserve the right to legal action. lordstown themselves failed to hold up its part of the investment agreement finding another partner to share the
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cost which exceeded initial estimates. this is not the first high-profile u.s. investment that foxconn has disappointed on. remember the 10 billion-dollar wisconsin plant that foxconn founder said would employ 13,000 in the states? foxconn eventually reduced that investment to just $600 million and only 1400 jobs. wisconsin had pledged and promised tax incentives worth as much as $4 billion to get that foxconn plant. if lordstown itself is not the only carmaker in the news. you had ford in the last hour, reported cutting 1000 contract salary staff in north america. that is on top of the thousand job cuts they announced last year. elon musk, tesla cut 10% of staff. if you look at the stock performance, elon musk and tesla proved being king in ev's is not an easy production ramp. neil: or an expensive one. thank you, susan li on that. following a story we've been following quite sometime, china
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scooping up all of this farmland in the united states. we thought with the national furor it was causing particularly in washington where some legislators were trying to clamp down on it the problem would be solved, or process of being sold. not according to john boyd, jr., black farmers national president. this is not going away, is it? >> this is not. china is quietly buying up many, many acres and farms in rural america. i've been trying to ring the alarm bell about this. reports show how china is setting up companies to build plants next to military bases, to tap into our nation's infrastructure and this administration seems to be asleep at the wheel here while we're losing farms, this administration hasn't done anything to stop farm foreclosures in this country. we have many of our members who right now facing farm foreclosure but we had a billion
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dollars to help chinese farmers and other entities in russia. so here we are allowing these persons, chinese government, to purchase american farms but we can't go to china and buy their farms. we can't go to china and set up american companies and buy their real estate there. they can come over here and purchase our farmland. and purchase our infrastructure. and tap into the american government here. something is terribly wrong with this and this administration, the biden administration, again is asleep at the wheel and they're not taking an aggressive approach to take on china. we really need someone in the white house that is going to have the tenacity, and the whereabouts to take on china. as you can see -- >> what are they doing, joan? we heard your campaign, campaigns like yours have actually prompted the chinese to speed up these investments but
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to what end? i know in some cases it is near u.s. military establishment but far from even most of those purchases are, so what are they after? >> you know i've seen many chinese organizations at farm actions. so they have someone there bidding on the farms and persons like myself, who can maybe pay 4 or $5,000 an acre, some of these farms are being run up into 15, $20,000 an acre. how many american farmers you know in the united states can after ford $20,000 an acre for good farm ground because i can't? it is my opinion chinese operatives should not be able to purchase united states farmland from american farmers. quite frankly it should be illegal. because we can't go to their country and do it. but they're allowed to come here
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to america to set up these companies. they bought smithfield food. for people that don't understand how significant that is, they're tapping into the american food structure in this country, we should be looking at that as food security people because they're tapping into american farms and tapping into the hog industry, all these industries china is quietly taking over here in the united states and we're not aggressively taking on some sort of campaign to stop it. neil: do they take the food then that they have now in the united states back to china for their people? do they resell it in the open market even to us? what are they doing? >> they're taking, yes, they're taking the food back to china, such as soybeans, such as pork and they're setting up these companies right here in the united states. and for people who understand companies like smithfield food buys grain from american farmers, buy corn, wheat, soybeans and taking the grain
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back to china. you really need to take a hard look and for those persons on capitol hill, our u.s. senators, leaders in congress they need to put legislation in place to stop china from buying american farm ground and to stop them from buying american companies and taking over the united states. they're quietly putting a real strong foothold in the united states and we're not doing enough to stop this. neil: yeah. ironically in the middle of all this tension between our two countries. maybe because of that. john boyd, thank you very much. you're one of the few voices out there warning americans out there and your politicians. john boyd, jr., we'll follow this story. we always do. it doesn't seem like there is any quid pro quo going on, all china advantage all the time. we can't do what they're doing here in their country. meantime making sense of a market rally that is focusing on the good news, not necessarily the bad news. that in full display today,
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>> wax on, right hand, wax off, left hand. wax on, wax off. breathe in through nose, out the mouth. wax on, wax off. don't forget to breathe, very important. [bell ringing] neil: very important to point out there is no similarity between that movie, "the karate kid," what elon musk wants getting a trainer sort of like that guy from carruth tee kid,
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george st. pierre will be his trainer ahead of potential cage match with mark zuckerberg but what we do know is that elon musk is serious about this. apparently so is mr. zuckerberg. it is still on even though we're getting word from elon musk's mom she is not a fan of this, doesn't want this, and told her son to drop any talk of this. he's not. kids and their mothers! we have mark tepper here, strategic wealth partners ceo, lou basenese, chief strategist. guys, this still appears to be on, when you hire a legend like george st. pierre to train for it i would think elon musk ignoring his mom. what do you think? >> i would have a to agree, neil. he is ready to take on
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zuckerberg. training with gsp that has to be a pretty brutal training session. that guy is one of the best ever. he is a hall-of-famer. look, i think it is just fantastic for americans though, to be able to get excited about something like this. you know the conner mcgregor floyd mayweather fight back in the day, that was definitely a big show. i think this will be a ton of fun, man. you have got two of the, you know, two big tech giants, potentially squaring off in an octagon? who wouldn't pay to see that? neil: i just don't think it will happen. it is a marketing gimmick here, lou, i can't appreciate. i don't know what either or both men would get out of it but your thoughts? >> no, i mean, look, i will place a wager on musk over zuckerberg all day long. so tepper, if you want the other side of that please let me know. neil: [laughter]. >> any press is good press right now especially for facebook/meta. i mean they tried to launch out into lead the metaverse and
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virtual reality they will get one upped by apple. any way they stay in the conversation i think this is just part of this. whether musk listens to his mother we'll see. it is great entertainment. i think it would be interesting, the hype, buildup would be way better than the actual performance. it is still worth it. interested to see. neil: i would work on my wrestling voice, you're going down, brother. but that is another occasion. guys i want to talk a little bit, funny thoughts, the markets and the mixed read we're getting today. mostly good economic news, better-than-expected economic news on home sales, durable goods, consumer confidence. when companies offer mixed signals. walgreens saying we're not getting as many shoppers, not making as much. delta with booming business, and they're spending way more than we thought possible. so from your standpoint, mark what do you read into that? >> so you mentioned public companies and kind of their mixed guidance but you know,
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there is small business owner guidance which exists as well. you just, really can't gain access to that unless you're talking to small business owners every single day. look, when i look at the consumer confidence number today very surprising, you know. in my mind there is really two reasons consumer confidence would go up. number one, you expect you have more money combing in than going out and number two, you expect that your job is safe for the foreseeable future. that consumer confidence number is not aligned with the small business owner optimism number. i'm talking to small business owners every single day. i belong to entrepreneursorg savings and young presidents organization. i'm asking them how they're feeling about what's happening in their given businesses and almost all of them have been telling me that growth is slowing, their confidence is deteriorating and they already have plans to reduce headcount by the end of the year. they're not telegraphing those plans. that is what they're telling me. obviously small business owners
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employ 50% of the population. so, that's a bit concerning to me. neil: you know, lou, i don't see the cause for alarm myself. i could be very wrong but with strong data that keeps coming out, i'm not saying it's off the charts great, i don't see any rate cuts at the end of the year as some were forecasting. we could have more than a couple hikes in rates whether justified or not. i'm curious what your thoughts are, when we end this year, go into the second half. >> i'm more in align with you, neil, hsbc warns of imminent recession, they expect rate cuts by the end. year. i i don't think that will happen. look at hard data versus soft data. the sentiment surveys are subject to a lot of ups and downs, hard data, durable goods, new home construction, new home starts, building permits, all those indicators which are hard data leading indicators of the
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economy point to something that we're just not in the midst or on the discuss -- cusp of a recession. i don't think the question is when is the next recession how long will it last, what is the severity? we look at intellectual property and patent filings as a leading indicator. the good news there back through the global pandemic global patent filings increased year-over-year of both years that future driver of economic growth before you have new products and new sales. new technologies that can invent it. from that vantage point do we have another recession in the next 12 months? to be determined but it will not as severe in my opinion as many people think. neil: hsbc, we would have to be thinking fast, it could still happen. we don't see it yet. mark, lou, thank you both very much. >> thanks, neil. neil: this subject is coming up on "the big money show." taylor riggs to give us a preview. hey, neil. taylor: i thought you would ask
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me my first ufc fight live. gsp, newark, new jersey. never forget that experience. i am long with anyone going with gsp. coming up on the show is not ufc, bide men dom mix. we have a research fellow, economist, all things bidennomics we think about the inflation and election coming up soon. first more "coast to coast" after this.
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♪. >> good afternoon, you're watching "cavuto: coast to coast." i'm mark meredith in hollis, new hampshire. we're watching multiple republican presidential candidates make the stump across the fran it state. there is a good reason. they're trying to capture early momentum trying to lock up votes likely what is to be a very competitive primary. we saw florida governor ron desantis meet with voters in the last hour. the governor making it clear he will not take this contest for granted. he mostly stuck to his stump speech. reining in wokeness in education policy and bringing down the national debt. desantis polling second in this state faces a very tough challenge from former president trump. we asked the governor what he is planning to do to try to bring out the vote? here is what he had to say moments ago. >> amount of endorsements and we
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continue to build momentum as we go through here. we have not spent money here at all. i am in the the race a few weeks. we like what happened on the ground this is a marathon, not a sprint. >> reporter: marathon not a sprint. former president trump has his running shoes on. he is not taking the granite state for granted. rolling out list of grassroots endorsements axe activists. why he is leading here. show you the latest fox news data shows there are 12 competitive states according to our power ranks for next year's contest. many are states you would read about, virginia, pennsylvania, michigan, wisconsin, arizona, nevada, others worth watching include florida, new hampshire, minnesota, north carolina and even texas. speaking of the carolinas, north caroline the state the former president won in 2020, republicans retain an advantage there but ever so slightly. we're watching democrats in
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michigan because they're trying to defend that state a state president biden won in the last cycle but according to our power rankings still seems vulnerable. there are issues what will drive voters the polls next year, the economy likely to be a big factor. we'll see if that changes over the next several weeks and months. neil. neil: mark meredith, thank you. hal lambert back with us point bridge capital founder ceo putting his money on governor desantis as he and the former president battle it out in new hampshire. hal, always good to have you. i was just wondering thinking of you, knowing i would have you on today, new tapes, recordings come out on classified documents concerning donald trump what he knew, when he knew it, they don't look good for him but a lot of this stuff hasn't looked good for him yet his gap widens with your guy governor desantis. are you worried? >> no, i'm not worried but there is no question it helped him in the polls. every time he gets an indictment
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his polling numbers do better. it is really because people are viewing it he is the victim, playing the victim card which is kind of interesting for a multibillionaire from new york but he is playing it. likely to get another indictment in georgia, maybe in d.c. we'll be putting up with this for a while. i think you will start to see exhaustion on the part of voters. it will kind of continue to go on. if you look at those tapes, if you look what happened in florida, look i'm not saying that this should be happening from a legal standpoint but it just all seems so unnecessary on trump's part. why didn't he just give the documents back? why do we have to put the country through this? it seems unnecessary and a lot of hubris holding on to those saying i'm into the giving them back to you to the point they had to go in and take them. neil: your guy, governor desantis, hasn't made it a huge deal or a focus of his campaign where people like chris christie, maybe further behind in the polls have, i'm
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just wondering, if that is a tactical mistake? >> i don't know if it's tactical mistake or not a lot of people in the republican party view this as a biased investigation and it's unfair because you're looking biden had classified documents and so did others and so you know, there is that point of view out there. so i think it is worth kind of getting into it. neil: you're right, that does make sense but the other shied of that maybe governor desantis, if donald trump should implode or this gets to be too much, he doesn't want to tick off trump backers. so he holds his fire. is that a strategy? >> well i think the strategy is really to talk about the issues that are important to americans specifically and what's going on with trump's personal stuff is really not affecting daily lives. so i think that is the real strategy. no, the answer we definitely want all the trump supporters we feel like we're going to win this primary. we need them to come on board at
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the end. we don't want to have a fractured party at the end of this where everybody feels like things were unfair or things that were supposed to happen and we end up losing in the general. nobody wants that. we all want to come together at the end of there. neil: is it affecting donors sort of hedging their bets, not withdrawing money from campaigns or giving less, not giving as much right now because they don't flow how it will sort out? if you're anyone but donald trump that might hurt you? >> well i think it is going to be difficult for a lot of candidates to raise money, no question about that. i think governor desantis is doing a great job. end of this week is june 30th. we'll get reporting next week, neil, important to look at that, see what candidates raised. it will take at least $50 million to get through the primary to mid-march. it will take a lot of money. governor desantis and donald trump are only two that can raise hard dollars for the campaign. neil: always fun talking to you. hal lambert on all of that.
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neil: you thought you dodged a gas tax, not so fast. grady trimble has more. >> reporter: the tax man always finds a way. state gas taxes are plunging because gas powered vehicles are becoming more fuel-efficient and more americans are buying electric vehicles creating a problem for state so they are getting creative and some critics would say invasive to try to solve the problem. some states are turning to mileage taxes for looking vehicle owners who use roads like other drivers but don't contribute to their upkeep through gas taxes. oregon, virginia and utah have programs in place where ev owners can opt into having a mileage tracker placed in their cars so they are taxed for every mile they drive. some drivers have serious concerns about putting a government tracking device in
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their cars. another approach states are taking is to tackle registration or other fees for hybrid and electric vehicle owners. right now almost 3 dozen states have these fees. in some states it is hundreds of dollars every year if you own an electric vehicle. bottom line is there is no tax dodging because states are finding a way to tax you even if you don't drive -- don't pay her gas tax. neil: they are actually piling up. that's a little creepy. when the government gets too far, grady trimble on all that. let's make sure "the big money show" guys don't screw it up. taylor: we will do our best to keep it in the green. i'm like the mileage conversation. what if they don't like where you are going?
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