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

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88 times, 110 times? what about you? >> hundred 44. stuart: i will go with one hundred 44 times too. the answer is one hundred 44 times. people spend an average of four hours in 25 minutes on their phones each day, that is up 30% from last year. i will break in and say i am on my phone an average of 7 hours and 50 minutes every day. we work on our phones and i can read your emails from here. my writing is so big. stuart: that was cruel. >> do you know how to make your font smaller? stuart: i don't. what should i -- why but i want to do that? lauren: you need to be able to see it. stuart: i'm 74 years old, don't
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live glasses or contacts. i think i'm doing okay. get me out of this. "varney and company" is over for the day but coast-to-coast starts hopefully now. neil: new month but may be a different market. fox on top of interest rates not backing up but coming down. the same delay we will likely hear the federal reserve standing pat. lots to get into. let's first get into this curious market day with larry glaser and get his sense of where and why we are doing what we are doing. >> reporter: the question everyone is asking, after a couple bruising months in the stock market in september and october, will the fed cut rates and when and will there be a recession. i can tell you with complete forecasting certainty and conviction i don't have the answer to those questions and neither does anybody on wall street and neither does jay
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powell going into today's meeting but we do know the good news is you don't have to have those answers to make money in this market, you can follow seasonality. you can look at treasury yields, better funding announcement, week manufacturing data which is bad news but good news for the stock market. if we listen to the market the market will give us clues and we can make money even though we don't have that risk, they learned that lesson a long time ago. stuart: i understand the drop in interest rates, amazing to me because the reason for the bond buying what there is of that particular lease a 10 year is the notion that we are not auctioning off as many of them as we thought. what's driving this? >> reporter: that precipitous drop in 10 year yield is significant for the way people look at the stock market, that's way more important than the geopolitical concerns which are unnerving investors and
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more important to the economy and housing and almost every aspect, car sales and everything else. the logic behind it is the fed will push for the short part of this curve. the take away from today as we talk about good news and strategies for the end of the your investors listen to the fed and not fight the fed, lock in some yield now because there's very little incentive for jay powell to take future rate hikes off the table but we see the market thinking yields are coming down based on today's data but weaker manufacturing data which is a trend for the last 12 months could mean softer long-term yields so investors are corralling, mouthwatering short-term yields are tough to let go of but you got to diversify your portfolio. that's the toughest thing. the easy trade is usually the wrong trade. the easy trade is to stay with cash, may not be there every year. neil: the fed gave the market cover not to move today.
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market controlled rates have been backing up, doing a lot of the fed's job. what do you think? >> that's precisely it. the market is sensing what the fed needs to do. jay powell is in a tough place. he's an enabler of government spending but he didn't create the problem. and her generation with massive debt the fed has to navigate. that's why the funding announcement was more significant than the fed announcement this afternoon. that's why the market is reacting to that. the market also looked at the jobless claims report, the weaker manufacturing data means softness in the labor market. you still have 50 years strengthen labor and strong housing market so it's not your grandfather's recession but we can put money to work, use this good seasonality in november as an opportunity for investors to be. adam: are talking about this
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condemning is in them to get the government going, the market is jumping on this news that the federal reserve and the treasury sort of united at the hip here, the treasury won't have to borrow as much money to fund 10 year notes and that kind of thing, still going to borrow but not as much. in the meantime the debate in washington over aid to israel, whether that includes aid to ukraine, an issue i raised with ron desantis yesterday. take a listen. others in your party particularly in the house said go ahead and set aside funds for israel, hold off on ukraine. where are you on this? >> i don't think there should be a big omnibus package. i think the house is right on this, what they are doing to provide robust support for israel while also paying for it is the way to go. israel is a great ally of ours, we are going to support their
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right to defend themselves, we have a long-standing military relationship, we will continue providing them support so they can fight and win this war and we should all agree on that. at the same time we are also 33 plus trillion dollars in debt so when you're supporting israel which we should do, what the house did, to pare back in other areas represent sound judgment. neil: republicans are having a tough time deciding what to do, discord among democrats, working with republicans, it's a mess. hillary vaughan following out on capitol hill. >> reporter: senate democratic leadership is blasting house republicans move to unveil their own is relayed package that is coupled with cuts to irs funding they say will pay for it but the congressional budget office says this bill would increase the deficit by 12.
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$5 billion over a decade and today senate leader chuck schumer says if it passes the house it is dead on arrival in the senate. >> the proposal is not a serious one and is still wasting precious time at a moment we need to help israel, ukraine and send humanitarian aid to gaza asap. >> reporter: house republicans say this spending should be coupled with major policy changes and taxpayer cash flow won't solve the problem. >> it is throwing a lot more money after bad policy. whether it is bad policy on the border or bad policy with iran we in congress have to drive policy changes, not just keep signing more checks. it is bad policy, not money. we have to pay for these, we have to pay for this aid and i certainly support pulling it from the waist that we have seen in the last several years. >> back in the senate doesn't
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republicans urging schumer to reject the $9 billion the president is requesting for humanitarian aid to gaza saying hamas is getting their hands on this aid, they don't want to use taxpayer dollars. it will be aid that we stolen by hamas terrorists but white house officials dispute that saying they have no proof that hamas has intercepted or stolen the aid trickling in but they cannot promise that hamas will not take future rate either. in terms of the timing we are looking at the house potentially moving on the israel aid package as soon as this week, the senate has a bigger problem in the sense they want to lump everything together so they have to work out ukraine funding, israel funding, gaza aid and border funding as well if they are doing it in one massive package, that could take a little longer. jack: q for that. we are learning as the war rages on israel that the israeli defense forces are
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saying 11,000 terrorist targets have been hit in gaza and it is accelerating the pace. a spokesperson kind enough to join us, thank you for giving us the time. how do you see this war going? i ask in the context of the prior report, the division in this country about getting aid to israel. i'm sure you would like to see it the sooner the better. what do you think? >> day 26 of our war against hamas. we are confident we are achieving our goals, moving closer every day step-by-step strike by strike as we take out the terrorists. we are extremely determined that hamas will never have the ability to launch attacks against israel and hold that sort of death above our heads, this needs to be the outcome, we are grateful for the support of our us ally and indeed we
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are working together in order to make sure this threat never happens. lauren: 1 learn from secretary blinken through no fault of his uncle acknowledging there's no way he could guarantee at least today that some of the aid intended for you doesn't somehow help hamas indirectly or not, it is a possibility. does that concern you? >> i can't really discuss the internal politics of the us, that goes beyond the realm of my response ability as the idf but i'm happy to talk about anything to do with our military operation on the ground and how we are trying to achieve that and determined to achieve that, that is what i would like to say from here. lauren: 20 the reason i put it in the context of what you do and the response abilities you have is hamas, even though your goal is to eradicate them, i can well understand that after october 7th, they still might
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be a force under different name, under different editing. i'm just wondering how you see this going? >> the end goal is a better security regime for gaza. do the people of gaza, the people of israel, the outcome, the goal we are trying to achieve would have to result in a better security situation for all parties in the region, that would create a sense of stability and i would say that any reality to where it is terrorist entities that has all the tools of government and subordinate all the powers of government to build their terrorist army would be a better situation and this is why we are conducting this war, why we are determined and we will be successful, there's no way we are going to stop until they are no longer a player on the field.
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neil: is allowing some of these departures from the gaza region. they are focused on those who have to get out, injured or foreign nationals, and all exclusively, can you update us on that and whether it is still complicating whatever israel's plans are going forward? >> we are currently focused on two main goals. first of all increasing google pressure on hamas to bring home the hostages and to destroy hamas and their governance capabilities, the second is to distant was between the civilian population, those not involved, noncombatants, and hamas, part of operations happening in the south whether it is humanitarian aid coming in or the evacuation of nationals or foreign nationals from gaza is just part of that. we have tried two times already
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to create a humanitarian evacuation. twice hamas prevented it. what we have seen is one of those new attempts and we have to see people can get out can get out. they are not the enemy, the people of gaza are not the enemy. hamas is the enemy. hamas is the enemy of everybody in the region. neil: some hamas figures are among those getting out? >> there needs to be a level of confidence the egyptian authorities as well, beyond the realm of the idf's control but i would say i am pretty certain egypt doesn't want hamas in their territory. neil: probably an understatement. over the last month now -- in the meantime updating you on what's happening with the migrant situation in this
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country including an encampment being set up in brooklyn no less, four tents promising to house as many as 500 individuals per tent and that's just for starters, the latest on that after this. (vo) while you may not be a pediatric surgeon volunteering your topiary talents at a children's hospital —
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stones throw of this facility. what do you make of this? >> this is a terrible idea. this is a flood zone. it is a fire trap. the role of these issues, to all the agencies involved, really falling on deaf ears. stuart: neil: the mayor, eric adams, says we have to find a place for these migrants, they are coming here. where else do they go? that is what this comes down to. >> if you're looking for a place you should not go to a place that floods regularly, the doesn't have fire hydrants that are reliable within the 30 acre fortune that this base camp is placed and the old reliable fire hydrant is 3000 feet away especially when
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spending millions and millions of dollars to house migrants at this place, what could possibly become a place where it is unsafe and the national park service reviewing before the migrant base camp was placed, their opinion was that it was unsafe for human life and safety. neil: so much is raised about where you put these migrants, when is not to allow them in the country period. we don't track where they ago. what plan by the mayor, giving them a 1-way ticket anywhere they want to go and letting someone else deal with it. >> this is an issue that starts at the border in the border needs to be secure but but will we need to divert buses from our borders here to the city of new york and they are given bus tickets, train tickets, plane
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tickets wherever they want to go but if they don't have family to receive them in other places and we provide shelter, medical, food, education and all the amenities with lithium-ion batteries which are dangerous why would they go anywhere else. neil: the same facility they are setting this up is a place for kids, workouts, scores, other project that events that have to be pushed aside or canceled out right. there's a real boomerang effect and it is not a good one. >> one million people visit floyd bennett field every year. we have 11 schools that utilize their athletic fields, aviator sports, hockey teams that go inside and soccer field outside. we have community garden that is there and a fisherman's
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reef, migratory birds where people come to find migratory birds, archery ranges, this is a park utilized by a row that doesn't have a lot of green space and the 5 boroughs that surrounded. neil: there was little warning and less for you if it happens to you so keep us posted on that. thank you for joining us. meantime, you've got the war going on in israel, growing divides on capitol hill as to how this helps in the process and the president of the united states and minnesota, everything is a matter of timing. is this a bad case of timing? after this? ♪ ♪
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neil: on the same day we are
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learning the aid package to israel might not add up. it's going to add to the deficit, the president is pushing such an egg package to be combined with a package for ukraine as well. he's flying home to minnesota today to discuss bidenomics. griff jenkins has more from minnesota. >> reporter: we are at the dutch creek farms in the barn where the president will come. they raise hogs, the president will come and sell his bidenomics message but the president's first official trip since he got a primary challenger in dean phillips, phillips's district isn't right where we are but is a few miles to the northwest of this area, much like this area his area has farmers, it several area, the president's event here is being labeled investing in rural america, the sign behind
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me, we expect the president to announce $5 billion new investment in agriculture of which one. $7 billion is expected to be climate smart agriculture, that's techniques they've used here on this farm to naturally sequester carbon and improve the soil quality, we will see what we hear about that but make no mistake, the president trying to sell his economic message as he gets the primary competition. it's going to be interesting to see if he can sell that message because in the latest poll, 6 in 10 people disapprove of his handling of it, 62% disapprove, 37% approve. the other thing the president will be met with when he gets here along with the cold winter temperatures is protesters, the council for american islamic relations will be protesting when he lands at the airport and outside of this farm as well. after he speaks here this afternoon he will go to a
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fundraiser in minneapolis and head out of the town. back to you. stuart: you must have a lot of frequent flyer miles. >> reporter: i'm going to need those. what we've got here, there was snow on the ground and the real feel temperature is 14 °, not quite ready for winter. neil: pulte doesn't need frequent flyer miles, he goes where he wants. let me get your take on the president pushing bidenomics, that it is working, there's a big disconnect with people who don't think it is working or have serious concerns about the economy, nevertheless the administration is pushing this view of give it time, you're going to see it and there is something to what today say with the job growth we have seen, the fact that so far into this war there hasn't been a spike in oil prices, spike in interest rates, we've seen it subdued a little bit so let me
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ask your take on the economy as you see it. >> we are seeing inflation everywhere, we see it in our space which is housing, you are seeing it in food. it is just persistent. i don't think it's going away anytime soon irrespective of what the fed does today and you saw the other day mcdonald's reported 14% earnings on just price increases, how are wages going to stay at this level to support this kind of wages. i think the next 6 to 9 months are going to be a tough time for a lot of people unless they can keep their wages up. larry: the a lot of these union deals at the closure are going to have some generous pay hikes and that's gets passed along and some inflationary concern that you mentioned so where do you see inflation going and how the fed reacts assuming they don't move today? >> reporter: what happens when ford can't sell those cars are
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gm can sell those cars not just because of labor inflation but potentially other inflation. this will have significant effects on all the suppliers. on the other hand you have tesla cutting prices on their cars. we are in a really dangerous spot and the growth in the job market is there, but what are wages going to do. are wages going to keep up with that growth? in the next 3, 6 and 9 months will tell it. stuart: looking at real estate and home prices, they rose to a record in august, we've been seeing a trend of construction spending up for 9 straight months. it could be people are running for new home sales. i get that but you do have higher rates and this is happening despite the higher rates or maybe because of them in this rush. how do you describe it? >> if you are a top-5 homebuilder this is the golden age of market share taking. what i mean is these big builders are buying down these
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interest rates and taking market share by lowering and customers that can't get any better or lower home prices because everyone is locked into their mortgage prices and this will be a problem for the average consumer to the benefit of the top 5 or top 10 homebuilders but until we structurally fix regulation, zoning in this country, you're going to continue to see high home prices. when you combined that with what we are seeing with inflation i don't see home prices going down materially lower anytime soon. neil: seems like outside black swan event for the time being, israelis have a different view of it so i don't mean to minimize it but it is nothing like the last war, that occupied and gripped the entire middle east and spread to oil embargoes 50 years ago. how do you see this continuing.
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>> consequences of what is going on, israel and palestine will be with us for many years to come. potentially decades to come. emotions are so high i don't see how it ends anytime soon and you are dealing with religion which is difficult. we may see some things with oil in the short term but in the long-term the world is less safe and i think people need homes and want to protect their homes going forward. let's hope war doesn't come here because that would be a big problem. neil: you don't see the fed moving today, you think it will be under pressure with inflationary developments to move in the near future so they are not done. >> don't think they are done but they won't be moving today and i think even if they keep going, they are not going to control a lot of this inflation. in some ways if they get to the point it starts to affect gm and ford how can gm and ford
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afford a lot of this labor price increasing when you have tesla cutting the price of stocks, cutting the price of cars. it is just a matter of time before the big guys get bigger and the small guys get eaten. julie: be happening as we speak. good seeing you again, thank you for joining us. bill pulte on all of that. any of you remember this cornell student who threatened jews, went so far as to say they should have their throats slit? he's under arrest but there's more to that story after this.
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scary remarks made in this hyper heated environment. cornell student who was just arrested for making not only anti-semitic threats but dangerous ones. alexis mcadams has more. >> reporter: right behind me is where those threats were made, the kosher dining hall, this junior at cornell threatened to shoot up. that's one of the threats he made. he is now facing 5 years behind bars, just checked in with the local county sheriff in new york who has him in his custody today, they are going to transport him to that jail was that his mug shot you are looking at, he's facing federal charges after investigators found he posted online threats saying he was going to shut up that kosher dining hall and going to slit the throats of jewish students on this campus. cornell university in the guy has been on high alert since those threats were posted over the weekend, the fbi and state
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police used his ip address to track him down. one student told me many jewish students are concerned and worried for their long-term safety. >> they want new security measures on windows. we are installing here a new security system and locks on our doors. >> reporter: it is not just cornell dealing with anti-semitic threats. seen all over the country at those campuses there's been a lot of protests since the hamas attack on october 7th so incidents have increased nearly 400% according to the antidefamation league. the american jewish committee tells fox news that schools cannot try to appease everyone, saying they have to condemn the acts. >> it is not a matter of if there's going to be a future attack, it's a matter of when
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and until they step up and change their rhetoric and their response, jewish students aren't going to feel safe on campus. >> reporter: patrick's father said he suffered severely from depression so the county sheriff says he's under 24 hour surveillance. is going to be in court at 2:thirty this afternoon. we will keep an eye on what happens in that area. >> reporter: preston cooper, senior fellow joining me at the foundation for research on equal opportunity, i'm just wondering, in light of these responses on the part of students who prefer hamas and sometimes even say hamas over israel a lot might be thinking twice about sending their kids there. many wondering why am i sending my kids there now. where is this going? >> a great point to raise. just a couple weeks ago a columbia university professor said he wouldn't send his own kids to columbia because of the
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rise in anti-semitic acts that haven't on campus and other campuses across the country. i don't think that this phenomenon, this rising anti-semitism can be disentangled from the fact americans of all political stripes are losing faith in the value of higher education, the refusal of administrators to condemn outright many of these anti-semitic acts, to condemn attacks by hamas terrorists in israel is linked to the lack of faith in higher education these days and universities need to realize sooner rather than later if they are going to have the future they hope they will in america. neil: a lot of these are very prestigious schools, among the most prestigious on the planet and now some of their biggest, most generous alumni are saying i'm not going to give another penny to reward this sort of sentiment and i'm wondering if there's been any impact from that.
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>> we are seeing quite a bit of that. many donors, university of pennsylvania in particular have said i'm not going to donate to this campus anymore but what we have to remember is these universities still do have quite a few resources, at cornell they have a $10 billion endowment. at the university of pennsylvania they have a 20 one billion dollar endowment and those sorts of endowments, the universities have very deep pockets. it's going to take a much agreed on a revolt to get these universities to change their behavior and potentially some action by students as well, students can vote with their feet, they can move to different campuses, different colleges the take a stronger stand against anti-semitism, that might get some of these elite universities to wake up and realize they have to confront anti-semitism rather than sweeping under the rug. neil: i wonder if they really care. i don't want to be jaded about it, you're hopeful, a young guy, should be hopeful but the behavior, this pattern of
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behavior long before this assault on israel, it was there. this brought it to light in dramatic fashion but a lot of these institutions seem to -- >> that's right. a lot of universities have been very blind to the ideological culture they've created on campus which has in some cases rewarded, elevated far left extremism, you're right that this is a problem that extends well in advance of october 7th. it did not start two weeks ago and universities have to reckon with this sort of ideological climate they are creating on campus because it's clear now it has become a home for extremism. neil: endorsed by the highest levels of the administration as well. it is odd but good luck, keep us posted on how it's going. jackie deangelis gives an idea of what is coming up in 15 or 16 minutes from now. jackie: the president is in
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motor soda that it minnesota tiding bidenomics, powell is fighting inflation. we will lead the way to the 2:00 fed decision. democrats want more humanitarian aid in gaza. are we sending money to terrorists? the yale student who was censored by the campus newspaper speaks out, more coast-to-coast after this. like a smart coffee grinder, that orders fresh beans for you. oh, genius! for more breakthroughs like that- i need a breakthrough card. like ours! with 2.5% cash back on purchases of $5,000 or more. plus unlimited 2% cash back on all other purchases. and with greater spending potential, sam can keep making smart ideas- a brilliant reality! the ink business premier card from chase for business. make more of what's yours.
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neil: closing good arguments underway in the sam bankman-fraud trial, don't know where it is going but kelly o'grady does, she joins us with the latest. >> reporter: closing arguments always a dramatic time in a trial, both sides of the last chance to convince the jury, the prosecution is going right now i they posed at the beginning a simple question to jurors, where did the money go, what happened, and who was responsible? they are answer sam bankman-fried, painting an emotional picture of him lying to the public and congress, stealing billions from customers and investors while at times the trial itself was in the weeds, today the prosecution is laying out why this isn't about crypto but is a simple fraud case. they are highlighting the secret back door he ordered so that alameda could siphon money
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from ftx. they are harping on the fact that his lieutenant who he tried to blame everything on wouldn't have had the access to make and execute those decisions. the prosecution is also using his testimony against him saying he lied to jurors and highlighted how he was a completely different person on cross-examination. hard to believe an mit grad couldn't remember countless details of his time as ceo but the decision to testify almost seems to be giving the government case new life. it was that missing piece to stitch their narrative together today, the defense will get their chance but the prosecution is saying to jurors he lied, he knew it was wrong and this was powerful, they said that stops with you today. time will tell. neil: i am curious, the defense team rolled the dice, letting him take the stand. it still too early to weigh whether that was a good idea or not. he said an mit grad, and incredible grasp of detail when he was running this whole thing
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who apparently became mr. magoo during this whole thing. i'm wondering if it hurt him. >> reporter: i think it did. he was compelling when the defense was questioning him, quick to add context and details, the judge said just answer the question, move along, we don't need every day under the sun and when the press examination was cross-examining him him, he couldn't remember anything and then during redirect he could remember. putting myself in jurors shoes, that back and forth, that 180 doesn't instill credibility. we don't have a verdict yet but that can't have played well. neil: we will watch closely and wrap this up, we will keep you posted on all of that. in the meantime, the latest on artificial intelligence and how much it should be regulated. we barely have a sense of what it is but we do know that when
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it comes to china and the united states, the united kingdom there is this push to find, quote, human centric, trustworthy resolutions, to make this as consumer friendly as possible. if you come up with those title descriptions it is not happening. let's go to general counsel, professor at george mason university's, always learn a lot having you. i'm just wondering, i understand the need to get a handle on this but you first have to understand it before you start pushing regulations, don't you? where is this going? >> thanks for having me on, the description you just gave sounds like it came from a chat bot. it is a bunch of words strung together that mean absolutely nothing. this is the overarching approach. what we are seeing right now is a un for ai. as we've known, one of the members of this was china.
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they will say one thing and do something completely different, they will steal our technology and whoever wins this race, will be the tech leader for the next decade so this is all about putting america on his back foot and but how the administration gave away our energy independence it seems to be giving away our technological independence. we are seeing harm for 3 groups, one, american businesses, 2, american national security and 3, american users so with businesses, we are being and wrapping american businesses in bureaucratic red tape here and as we know we need to innovate at the speed of light, not the speed of bureaucracy and if we approach the same mother may i approach we see out of europe we will be a tech loser. from a national security - it strikes me as an american do we see how ai is being deployed in places like israel in the services like iron dome or cyber dome, being used every second or today to stop cyber
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security against americans and american users. we are using ai every second to stop spam e-mails, fraud e-mails and bad actors from attacking us so all this is a bad idea, all this is going to chill innovation at all of this and all of this will make sure the bad actors will not follow the law, do whatever they want and only the good actors will be hamstrung. neil: the argument is you don't want to kill this thing in the career but. you don't want to give an unfettered possibility but not so that it can see its potential. a lot of people are afraid of that potential and how this could mean loss of so many jobs. where are you on this? >> first of all there are people in the administration i vehemently disagree with, like the ftc chair who said there are thousands of laws that
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apply to ai today and that makes sense, we don't outlaw hammers, we outlaw bad uses of hammers, we don't outlaw ai, we outlaw bad uses of ai, what we need to get back to his enforcing the laws we have rather than grandstanding and trying to create new laws. the other thing is use of ai. we use it all the time. when we do a search and it gives us the results we want, that's ai. when i mentioned spam blocking get, when somebody sends a spam e-mail ai learns from that and figures out you can't just change a keyword and get through the filter. it is learning. in my own personal life i get incredible emails from my kids teachers, but i need just the action item so i use ai in my own email system to pull out just the action items and make my life a little easier. we use ai all the time. once people realize that they will find it to be a lot less scary and more commonplace. neil: you don't see it as a
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threat to humanity. >> this goes in one of 2 directions. it is either racist or the terminator. the more mature conversation is somewhere in the middle and that is what was missing from the discussion that just concluded in the uk, there was not a single positive note of ai and that is really sad. neil: arnold schwarzenegger analogy there. great seeing you again. thank you very much. i want to update you on a couple developers concerning israel and the ongoing war, the economic impact from this. norwegian cruise the latest to cancel all israel stops in 2,024. not only did they stop for the rest of this year but all through 2,024. it follows airlines like american, delta, united, canada, air france and finnair and a host of others saying we will hold off on ever getting back to israel anytime soon. more after this. (vo) while you may not be a pediatric surgeon volunteering
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eloro resources is a exploration and mine development company. our main focus is a poly metallic world class deposit called iska iska in southern bolivia. we just came out with a press release with regard to our mre. we are very, very happy with the results of this mre. this could be one of the larger, if not largest, tin bulk tonnage operations in the world.
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neil: before i handed to "the big money show," we've given a lot of gains early on. has something to do with the yield on the 10 year which it gone down to 4. 74%, now about 4.82%, that backup may result in some people thinking good we overplayed this turnaround. the bond market on the very same day, federal reserve

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