david: marketer doing very well on this monday and cavuto will take you to the next hour. thank you for watching us. >> i have expanded our state of emergency. the executive order to include 13 additional counties. i urge floridians to heed the

admonitions and heed the directions from the local officials. there are going to be evacuation orders in all these gulf coast counties in the a and b zones. all the barrier islands, places that are low-lying on the coast. we are going to be told to evacuate. neil: button down the hatches because and and the storm is co. 150 miles per hour a big problem for florida when she does make landfall. a big economic for problem provokes w well outside of idalia's path. we have the latest in clearwater florida and ryan on other threats beyond florida. then the own edward lawrence at the white house on how the president is trying to stay ahead of all this.

tough market why investors are panicking over any of this. at least not yet. "coast to coast", right now. ♪. neil: welcome everybody i am neil cavuto. nice to have you. even though we have dicey weather particularly around the golf. we start the week with the storm that it might not be the only storm. robert ray and the sunshine state to tea things out for us in clearwater. >> good afternoon from clearwater beach, the barrier island outside of tampa. you see behind me, look at the bridge and if there is a mandatory evacuation, a lot of people that's their way out to the mainland, pinellas county has been having meetings this morning, that's where were at that includes tampa as well deciding mandatory evacuations. we heard governor desantis say the barrier islands will be evacuated but we haven't gotten the mandatory word quite yet as

the storm is churning and making its way out here, current track, making his way to the gulf of mexico. it is forward to come up 80 miles where i'm at right now to make landfall at some point in the middle of the night tuesday into wednesday very early morning and hit the big bend area north of here that's where the peninsula curves and goes into the panhandle. as we know in the storm involves it is not even a hurricane yet, it will be soon, there could be a wobble or jog just to the south and east of that happens. where were at right now is in deep trouble. as it stands next - 8 fee of storm surge will be coming into the area that will cause damage. i will be able to stand here obviously as we wait for the mandatory evacuation we hope that this is not a repeat of what we saw late last september with hurricane ian hitting southwest florida as we are

running out of time to evacuate here up in the tampa area pre-decision needs to be made quite soon by the elected officials as to whether or not people need to leave the regions and find safety. of course the storm is not just ford attended into georgia and the carolinas. neil: got it, robert ray. what are we looking at let's go to brian norquist of "fox weather" hurricane specialist, what do you think. >> i think this is an extremely serious situation for the west coast of florida and possibly for the tampa bay area and i agree with robert that they have not ordered evacuations yet, that is kind of scary. let's take a look at what's going on with the storm right now there you see by cancún and here's the forecast path. the idea it is in the facility on the west coast of florida in the early morning hours of

wednesday, steadily intensifying and potentially rapidly intensifying. we see 150 miles an hour you think maybe 130 miles an hour just the way we see the storms go when they get over the warm water, looking close up here is a scary thing if it stays in the middle of the cone, the worst of the storm is going to go to the nature coast of florida. it's not terribly populated, there are people there but they can get them out, that's really not a big, big problem. you have problems in tampa and the water will get pushed along the coast but it won't be the worst case. as we saw last year with hurricane ian, sometimes the storm wobbles over this way and that would put a whole lot of water into tampa bay and where robert is and where millions of people live in so many people live in areas where the seven put a potential water rise from the normal high tide would flood

those areas. that is a concern that is the size of the storm, the business part of the storm is in here in the real important part is there, it's relatively small but it doesn't take much of a shift to put it here in the metropolitan tampa ain't petersburg, storm surge warnings for the coast 3 feet above normal high tide or higher in the area, that is the scary thing. the wind. hurricane force winds in the purple maybe hurricane force winds as far in as gainesville all the way in the state. this will move quickly so it won't die out quickly as it heads toward the carolinas and the good have to deal with in the carolinas and georgia as well. but that's going to be on thursday and friday and it will be a weaker version. the big threat is from north of tampa on down the coast and some water rise possible down where we saw hurricane ian but that is

not the threat zone with this one, there you see the cone for the carolinas. neil: thank you for that. brian norquist following that closely we know the president of the united states has talked to governor desantis on the phone offering federal help that would be needed and correlated between the two. edward lawrence has more from the white house and other development. >> the president spoke with florida governor ron desantis about what brian was talking about with the hurricane that idalia will do. they also open the emergency response center and the president saying they will have the full support from the federal government. on the academy were looking forward for the and favored inflation indicator from the federal reserve or the federal reserve chairman jay powell laser focus on core inflation doing going forward he's concerned without food and energy prices how sticky it's been about 4%, the president

refusing to change any of his policies because of inflation and has come down from the peak of 9.1% but now the federal funds rate is between five and a quarter and 5.5%. the vice president was teed up last weekend about the economy and riff. >> what you hope people will finally be able to say to this gesture that you are most proud of the you been able to do with the president. i know we have bidenomics, what are the things you're most proud of. >> there is a lot, i am proud for example an issue i worked on for a long time the issue of maternal health. >> the latest fox news polling showing 74% of registered voters say the president made no difference were actually made the economy worse the federal reserve offering no relief from interest-rate hikes. >> although inflation has moved down from its peak, welcome

development remains too high. we are prepared to raise rates further if appropriate. >> now we wait for the inflation measure, the president's focus is elsewhere he had an washington post the 60th anniversary of the march on washington by martin luther king. he says the president and the op-ed the equity is in every decision that he makes including on the economy. we could see a meeting later on today and possibly reports that the president could meet with martin luther king's family. we will have to wait and see. neil: thank you for that. you might hear from edward not much growing of the administration at least in contemplation, the trend they say is their friend but prices remain stubbornly high and far from a bragging play in from the white house that was something that i heard echoed by the cofounder of the billionaire cofounder of home depot told me that's the most insidious issue for americans. >> inflation is a killer, listen to people one of the

hard-working people all over america that can barely make ends meet and are going further in the whole, the salary income is lower than the cost of living going up so they are in a whole it is not going to get better. it's only going to get worse. we've got to address it and take paul volker's playbook and put into work. it was painful but it worked. inflation as i said earlier, thank you for remembering that is the most regressive taxable. neil: a lot of people when they watch the interview they say please tell us the fed still has to do something they could do up paul volker did in the late 70s and 80s when he was fighting inflation and would raise rates one full percentage point at a time so this consensus that seems to be building on wall street that maybe the fed is done, the read from ken langone is not done

it's still a problem and it's only gain in town to address this and say administration of politicians. tiana lowe doescher joins us from the washington examiner. if he's writing is a good track record, we have summer problems. >> is absolutely right, the difference between paul volker and jerome powell, volker had a president ronald reagan who is willing to work with him in a more restrictive fiscal policy. joe biden is actively countering what powell is trying to do we see with the spending. let's talk about how the inflation indeed is regressive, at the end of last year at the census bureau did a study that showed those earning $35000 a year were 19 points more likely to say that inflation was deeply stressing their budget than those that earn $75000 a year and it makes sense why. you think about rent which comprises a third of the entire household budget of the lowest

quintile earners, the highest quintile of earners rent is only a quarter of the budget. we see the most movement and inflation in the categories that are the most essential. when food is a necessity for those who were earning last in food inflation, 20% since joe biden took office. it makes sense is so much more insidious were those earning less. neil: often times in the last time we talked i told you about conversations i had with the white house, officials who claim and say prices are still a problem but not much of a problem. the trend in growth has slipped each month for the past 12 months and they like that. they think it will gain traction by election day and we will be over all this by election day, do you buy that? >> absolutely not, inflation is compounding, let's say we get incredible pce report out this week and the core number close to half comes back to the 2%

benchmark that powell has reiterated will remain the benchmark even so prices have still increased 16% in the past two years, did anyone get a 16% raise in that time. historically speaking, no, the wages do not keep up with inflation we are finally getting the first real wage growth of this presidency but it doesn't detract from the fact that we had two years of real wage losses for the average earner. inflation does not go away, it's not as though wages will make up for it, if they do that's with the fed will start ramping up the rate hikes again. neil: we will watch closely. always good to see you. thank you very much. you might notice a disconnect forward about inflation and more storms impacting inflation, we have a funny way of showing it. this is been a losing month of the major market averages and whether they can recoup the losses by the end of the week input in a positive number that seems like a leap. we'll tell you what is behind this after this.

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neil: not too many trading days in the month of august. would have to have a hercules turnaround to make a positive stamp on the month. all the major averages are down my next guest what are the smartest i get a chance to talk to. this can be problematic and so could september, what we are seeing now would have to light a fire to turn that around. lou basenese east chief market strategist. good to see you again. i remember going into it you were saying we had a good ride but don't be surprised if you have some bumps. >> when we go on vacation stocks go on vacation to. we look at the last five months we again for the s&p 500 traditionally september is the worst month, august is pretty weak. even if it's a bad august. we've had the s&p up almost 20%

on the year ago going into august. neil: you're still bullish in the aggregate. >> in the aggregate and pocket into pockets i think they've had huge run with the s&p last august highs and broke through. it began to be opportunistic. were looking at a lot of things that are downtrodden in the biotech and the sector that got beaten bloodied. too much so. neil: a lot of you say this about the technology got beaten up too much. year over year it hasn't gotten beat up. >> if you look at big names like meta this is a stock i wouldn't touch even with their money but it's expanded on a multiple not on profit growth. neil: you're not drawn to those issues. >> the big techie play trends. a.i. is the trend that is propelling the multiple expansions and profit growth. neil: who does that justify, these expansions. >> what is the last thing we were hyped about bitcoin and block chain, hype cycles are

well known and there nobly live up to the height. i think his vulnerability but if you come from the bottom up in small caps and micro caps, the innovation of economy never stops there are companies that are continuing to advance to the clinic and move medical devices to a tipping point yet the evaluations are 50 million and a hundred million in some cases where you know the real value are a billion or two or $3 billion i think there's a lot of opportunity but you have to balance that with treasures yet to park money in cash and make four or 5%. that is the dilemma. neil: are using evidence of that that people are saying for a 5%, uncle sam is guaranteeing it. i'll take it. >> we are. if you look at the money market the amount of funds are in the top 5 trillion that's a lot of cash on the sideline that can come back. neil: did it come from stocks? >> i think absolutely did. neil: we can always go back to stocks.

>> i think that is investor psychology comported that we don't have figured out, wall street thinks they're smarter than the fed and the smart money is moving in and out to time the fed where name street is a little bit more putin and i think they have not come back in in full force to the market yet but i think what they do that's when things get interesting in the smaller end of the market versus the top and. neil: one of the weird developments as a catalyst for today's surge were up about 147 and the dow a lot was built on china getting his act together and removing taxes on some trade away to avoid the markets, works for a while in the markets ended up doing okay but evergrande, the big real estate concern crashed 80 or 90%. p give it and take it. >> china is always a risk there a risk to the national security from ip perspective. >> we are rooting for them to come out of this. >> is a relative game, if china is struggling their economy has been downshifting for the last

two years. neil: you think the problems in real estate and financial and others is a preview of attractions coming here. >> i think the commercial real estate i was talking with a colleague before the difference here for the u.s. everyone is worried about what's can cause the next crisis we don't have a debt bond, there's a problem in commercial real estate. if you remember in 2007 in 2008 we had the 51 arms in exotic financing that needed mechanisms to be refinanced we don't have that now. neil: do you see real estate, that's been a saving grace stubbornly so that when you getting back to mortgage rates around 2000, 2001 and the price of homes that come with it, that's a double whammy. >> we talked about this last time a double vergence, the fed is raising more than anyone anticipated it's good to keep going, i think we get another hike. september or november, i think the fed will hold in will want

more, using the labor market is starting to tighten and you see wage growth is slowing down, you see all these events that we would expect to happen in a slowdown after rapid rate increase in the real estate market but we haven't hit the breaking point. neil: you have union deals that are very generous. you can then interpret them, that is inflationary of itself and lead to a higher price of goods associated with the work behind that. >> i agree i think that is the balance that the fed is trying to maneuver, how fast is the labor market going to cool off, with the deals like that, 46% increase for autoworkers, sign me up for that. it's always good to see you. he knows of what we he speaks. by the way we've not gotten a response from kia and hyundai, they responded to the mayor of chicago lawsuit essentially blaming them for the steep rise in crime because they don't do

enough to make sure their cars are not stolen so the thievery is not the problem it is the lure of the cars that are getting stolen. you cannot make this up. after this. ♪ dad, we got this. we got this. we got this. we got this. we got this. yay! we got this. we got this! life is for living. we got this! let's partner for all of it. edward jones

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♪ neil: the head of the hurricane idalia what could be up the gulf coast could be tampa area, clearwater area and potentially a category 3 with winds in excess of 115 miles an hour at a minimum. the international airport is closing early tomorrow ahead of the hurricane and expect other airports in and around the region to do the same, you know the spoken wheel nature of the air travel system today what happens there will likely reverberate and delay into or canceled flights everywhere, we are in top of that in strange

developments in the chicago area with a crime that seems to be out of control and now a mayor who is blaming it not on perpetrated the crimes but the carmakers that are making it too easy for them to commit those crimes or something like that. jeff flock has more from illinois. >> good to see you. they say the devil made me do it sometimes, in this case are saying the car made them do it, too easy to steal, hyundai and kia models in chicago going to big cities, seattle, new york city is suing, st. louis, milwaukee, you remember the videos that got out there about midyear last year of how easy it was to steal certain hyundai and kia models they basically did a how to and you could do it with a usb cord and because that was so easy, chicago said you

should've done a better job of making the cars harder to steal, here is the filing in the local court, for years kia and hyundai chose to forgo industry-standard antitheft technology and many of their cars as soon as people discover the shortcoming, video showing how to hotwire the cars went viral on the internet rise in theft slid to reckless driving, motor vehicle accidents, violent crimes, injuries and property damage, it is no secret car thefts have been up all across the country. in chicago this year up over 100% and in their court filing were these numbers. they said that the first half of last year before the video got out there, 500 thefts of kia and hyundai the second half of the year after the videos more than 8000 were stolen. kia and hyundai, we reached out to them for the side of the story and they say they have been taken steps to try to eliminate this and kia said

lawsuits by medicine polities against kia are without merit, the government has determined this does not constitute a safe defect or noncompliance with applicable motor vehicle safety standards. no you do not have to put antitheft staff but you have to put headlights and windshield but you do not have to put antitheft stuff on their. i don't know i am reminded of the old country singer billy joe schaefer, he had to paraphrase and one said the devil made me do it the first time but other times i done on my own. neil: i want to let you know on a fox news alert i'm suing the fat makers were making me fat. i think i have a case and i'm using the chicago one as a launcher. i would share that with you as you break news with us. >> it can be pretty scary. they are pretty compelling to a person of your soup under persuasion.

jeff flock on those developments. we make light of this but it does make you think who is coming up with this stuff. gianno caldwell along with gianno caldwell. you cannot make this stuff up, sign me up for that if i chase down all of these guys who make all of the delicious food so tempted for me, i think we got something here, what you make of this. >> i think it's a misdirection from the mayor, we've seen since he's been in office he definitely has a heart for criminals which is something you would not assume the mayors of the city would have but he has a harp for criminals and allows them to continue their criminality instead of saber to get tougher on crime, he should say we're going to blame the car manufacturers so we can say were actually doing something about crime when in actuality you are not. what you should be doing is blasting kim botsford not

prosecuting crime within your city when you have your police officers working diligently and in many cases make it a rest and in a lot of cases are not walking out to commit more crimes. what were seen in new york, los angeles whether taking up these cases is again attempting as a collective to say we are going to do something about the crime when they're really not and we see with the migrant crime, the crisis that are descending upon our state. that is also causing an uptick in crime in these particular areas and residents have been pushing back on that as well. this is another set of circumstances where i think the house judiciary committee who is going to go to a hearing in september next month, a field hearing on violent crime in chicago this is another instance where they can raise an issue of retail theft, car theft and what the city is not doing about it. neil: it would be something if

kia and hyundai would disproportionately the one stolen in the mayor, you might have a point but they are not. then they blame them for being popular enough to get stolen because they are presumably easy enough to get stolen. that is a slippery slope right there. >> it is a slippery slope but the only one that they can market at this particular time. if you not get into anything about the real crisis which there is a crime crisis, people are dying daily in the streets of chicago, criminals who cannot be pursued under the last administration because no chase. if you had a criminal elevating the law and one of the han dies, they have to call their supervisor under the previous administration to get permission to pursue the criminal. at that particular point the criminal has already gotten a

away. it just does not make sense and a lot of people scratching their heads how can things become worse under this mayor and i think he already set it up before the election. a guy named paul tough on crime and another guy said we could demonize criminals. that tells you everything you need to know about it. neil: let's say the best defense is a good offense. always good to see you. thank you very much. gianno caldwell. a lot of you have views on young workers and if you're a young worker or an older worker judging the young kids today. apparently young workers have a problem it is a very big problem, being on the phone. i will explain that after this. ♪

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>> we cannot wish our way out of the mess that we are in and we are in a mess. i noticed this when i was in the gym that the two-year treasury are 509 now, they've got to go higher. i worry about powell because i think i'm more than suspicious that he held back on what he should've raise rates two years ago because this was right before he was to get reapp reappointed. i hope to god he's not going to do the same thing next year because we need to address inflation. >> the former head of home depot, the cofounder of home depot multibillionaire saying don't botch it again federal reserve, do what paul volker did hike rates aggressively, even now, zoning again the city federal reserve president and very pressing on the stubborn trend, it is very good to see

you. >> good to be with you, glad to join you. >> we are a long way from done according to ken langone. the rate increases that we need more and they should be bigger? >> i think we probably will have one or two more increases i think we are near the end of that based on the rhetoric that i have heard around the system the federal reserve and the public i would tell you powell says he and his committee are committed to 2% and if they are they will have to leave rates higher for longer and may have to raise them again. i think this coming september they will have their next cpi release for august. if that is higher they will move sooner. if not they may pause and wait until late october but any case it'll have to move.

i would say one of the difficulties this we all have perhaps, underestimated the stimulus power that came with fiscal policy the last three years. the amount of money put into this economy is going to take a while to work out and that means rates have to stay where they are or higher for some time to come and i think the fed is good to be under a lot of pressure in this political year to get rates down sooner than perhaps they might want to and certainly sooner than they should. neil: or slow the rate increase by an extension. can i ask you a question. when you see some of the generous labor contracts of 30 or 45%, american airlines, the uaw looking to do the same, maybe 46%, they raised 42 hour weeks that would affect gm and ford. were seen more and more of these deals that is baked into the cake further out.

do you make preemptive hikes and rates to counter that? >> you may have to, number one these folks are insisting on the wage increases because number one there is a tight labor market but number two they followed behind, inflation outstripped wages for most workers so they have this incentive to bring it up so now the fed has a new problem and that is higher wages if they continue they have to put up with pressure on prices and that will make it more difficult to bring inflation down to the 2% and that will demand i am afraid higher interest rates than what we are expecting right now. the hope that will ease back but we don't know yet. everyone is talking about the soft landing and i think i heard that over and over in the past, we're early in the cycle we really are. the great financial crisis between 2006 which was the last

increase and lehmans was over two years. we have not even stopped raising rates, there is a lot of dynamic still ahead of us and of the higher rates we should see some slowing and if not will have to raise further and not risk financial stability so they are walking on eggshells but i think they have to be resolute in number one, number two the have to raise rates to be necessary and not hesitate because the political pressure which will come. neil: do you think very quickly that the lesson here is when the legislature body is spending a lot of money for president and legislative bodies proposing it, right away start hiking? because is going to filter down the system and quickly? >> i think yes number one, the federal reserve should not monetize the gap and they should make it very clear were not to monetize the debt. in this instance i did the

balance sheet nearly double and that has made, they fed the inflationary surge that we saw, yes, i think they should be insisted that there could be independent and not monetize the debt and if that means higher interest rates and that problem is ahead of them in states because those levels that are coming in the interest on the debt is going to put enormous pressure on them because interest rates, long-term interest rates have to rise and i think that's what you see in the market, they are anticipating for long-term rates have to come up because we cannot fund this deficit and private investment to the extent that people want. neil: the credit goes to you i know you're modest but you saw this coming when no one else did and they mocked you for saying the stuff you're saying right now. thomas hoenig always an honor to have you. thank you so much. >> thank you for the invitation.

neil: if you don't have enough of an interest-rate phobia how about a phone phobia. lauren simonetti what is this about. >> a study out of australia, 90% of young adults, twentysomething prefer to text then talk on the phone with a friend and family, they are literally anxious about it. watch. >> if i take a phone call i'm not doing it. >> no reason at all it just comes in and i gotta control it and move on. >> i think that is true. >> i am 30 and i avoid answering calls. >> it is easier to be less social, you're not forced to talk to people in person, you don't have people coming up to you just push the button. >> everybody likes a text message or facetime. like talking on the phone is too serious. neil: that is the rub. a phone conversation is

considered scary because younger people associated with bad news like ring ring, neil, we need to talk. this isn't working out so well maybe we should break up or your job performance. neil: there okay with the texting, that part they can deal with. lauren: that is easy to them. they probably don't even have a phone. the landline is considered antiquated so you're physically not going like this because you don't have a landline. not even a quarter of households have a landline. when you see 70 talk on the phone that usually like this because it facetime me. neil: your kids are very young but i have a 21-year-old and i know what the study speaks. it is much easier for them to text then to talk. lauren: is more efficient. neil: it is just rude. lauren: back-and-forth or texting and texting but if you

got on the phone you might build to fix the problem speaking with someone a lot sooner. i agree with that. i do the text thing more these days and i'm not twentysomething. neil: you're still a young mom, be afraid of this because it's all there, if they need money they'll text that right away. lauren: hey dad, did you not get my text, how was your day. thank you. lauren, thank you for that, taylor riggs this is what you have to look forward to. what you have coming up. >> nothing to be scared about in the markets today. david covered up at the top of our a big week for pce, job stain retail earnings, all of that coming about 13 something for the basketball fans as well orlando magic point guard paul anthony on the ad to create young kids to get involved in basketball. really excited, first were "coast to coast" coming up after

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it's the mobile made free event-happening now. get started for just $39 a month. plus, ask how to get one free line of unlimited mobile. comcast business, powering possibilities. neil: we might talk about a military showdown with china with the third cabinet official

in little more than six months visiting china, the condiments entering commerce secretary of the united states. in case you have any doubt that china is important to us as presumably you would think that we are to them, the fact of the matter is that markets were jumping today in the idea may be there over the worst of the economic rent and the fact that the cutting taxes on stock trade, that lifted her markets as well, we do not like to see a disarray but we do look patronizing. jonathan ward talks about a great deal the author of the decisive decade in china's vision of victory, good to have you. what do the chinese makeup are constantly coming up with the third or fourth cabinet official over there talking about maintaining ties in good relations. i don't see many of them coming here. >> that is right in a sense they have is where they want us, they

see us saying we want to stabilize this relationship and not trying to hold them back economically and for them that a strategic capital in the bank, they're happy to see that the u.s. is not ready to pursue a full board containment strategy and economic containment strategy beefing up deterrence and doing all of that. what it would take to stop and slow china down now. i think were back to old-line and new skins then old u.s. engagement policy that brought us the rise of the people's republic of china and we really have to stop doing that we want to change course now is the time to change course they cannot rise any further without access to our market and our capital and our technology that goes double across the alliance system so we could wage a very successful strategy against them but i don't think were doing that and i think they know that in sending this point for cabinet officials because john kerry is cabinet level. neil: sorry to jump on you, let me ask you a little bit of what

comes of these discussions. if we were to get tough on china and ample reason to do so. isn't the political fear that results in higher priced goods because we get into a trade war, americans wouldn't you know it right before the election are paying a lot more for everything and it dooms on politicians to even talk like that, what do you think. >> that is probably the nature of a problem inability to execute on a real strategy because the short term constraints of course there would be an economic cost but we would have to go through some form of strategic in order to manage this relationship towards an outcome of having a real strategic victory over china and i think continuing to kick the can means we will get a bigger and bigger problem they are continuing to grow them or facilitating the growth through capital technology and market access and that culminates in something very big. next time i see you we should

talk about systems destruction warfare in the concepts for fighting the u.s. in the pacific which they're pushing ahead on full speed in ways that are incredibly alarming when no one is aware of it, we want to continue the business relationship, something is not right and we have a very, very short window and we are not doing that. >> were not and they know were not. good seeing you. looking forward to our next c chat. the dow up 183-point if there's a concern not resonating just yet. more after this. ♪ “dirty deeds” by ac/dc ♪ (♪) ♪ dirty deeds (done dirt cheap) ♪ ♪ dirty deeds (done dirt cheap) ♪ let innovation refunds help

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neil: as the dow sprinted to enter ten points and iconic element, netflix is shifting the last red envelope next month. that's how this started, you have to dvd to order and we might call it the cd back then, everyone is streaming i think looks is that okay with streaming but the last red envelope goes out next month. i wonder who is getting it and what the movie is. isn't that iconic, you think about those days, i talk to young people who cannot relate, this dvd, tell us all about it, please. what happened, i feel old all handed off to you. taylor: the question, did you know they were doing those envelopes? >> i did but obviously