tv Cavuto Coast to Coast FOX Business October 24, 2024 12:00pm-1:00pm EDT
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stuart: we asked which state had more than 1 million residents. max gordon. >> in alaska they don't have many people, north dakota, south dakota, i'm saying connecticut. stuart: it's not on the list. >> sorry, delaware. stuart: max gordon. we are running out of time. maxes hogging the show. ashley: delaware number 3. stuart: in which case the ally. the answer is delaware. according to the census delaware, can't even read the script because we are out of time. thanks for staying. you are all right. ashley, see you tomorrow. now neil, it is yours. . 20 all right. thank you very much for that. we are following a tale two
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markets that could be encapsulated, tesla is on fire today better than 40 points, 19% advance, boeing going the other way down 2%. boeing if you think of it even at these levels almost cut in half from the nearly $270 it was expecting near the beginning of the year. you might've heard boeing workers rejected what would have been a generous pay package i, the average worker would have received $23,000 more a year and other generous benefits. madison alworth gives you that and more. that encapsulates it, two different worlds, two different stocks. >> reporter: it keeps going up there after a much-needed earnings when thanks in part to record-breaking deliveries at a 17% profit jump from the previous year is what we learned, ceo elon musk says he
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expects more great things ahead, you see the stock going up, promising 20% to 30% vehicle growth next year. musk also assaying the cybertruck turned a profit for the first time and reiterated plans for new vehicles on the first half of next year including ones that would be more affordable which has the doing phenomenal today, leading higher on this good news. it is good news for investors who were worried about tesla and the news the company came out with, that very hyped up robo taxi event a couple weeks ago but didn't get a lot of information. musk did say production will be in full swing by 2026. a company that is far from producing at full swing is boeing, boeing's largest union rejected a tentative labor contract on wednesday extending the strike which is been going on for nearly six weeks down
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three points today leaving the assembly line idle, for nearly all of boeing's commercial jets including the 737 max which is the backbone of their balance sheet. this does not help the company's efforts to restore their image and fix their financial problem and they have a big one. become but he reported a loss of $6.1 billion yesterday. the company's leading supplier also coming under pressure as a result of this, spirit aerosystems down as well taking a look there, down 0.7%, down off of that news after warning also of layoffs and more furloughs. the big hang up or boeing workers is the pension which the company would be hard-pressed to agree to a pension because of the cost and with that on the table it is driving up the fears of a prolonged strike and driving down the price of the stock.
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stuart: great way to point the story together. appreciate that. we wanted to see this a little more. we have the ceo there, the chairman and managing partner. on boeing if you will indulge me on this, this idea that workers reject a 35% pay hike. the devil is in the details, not aware of the details, big pay hike to turn down. i'm just wondering, if you are a large union workforce does that get in there. the ima, t boeing workers may be overplaying their hand here. so far they are paying workers $250 a week to strike, these are 6-figure jobs. they've already gone through $41 million and only have $300 million total length boeing workers are 6% of the union so basically we've seen a situation where they have
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eroded 13% of the union's assets in just a handful of weeks within the 30 one. 5 weeks they will be down to $0 of assets. starting at 300, down 260. boeing can tap the public markets anytime they want and raise $10 billion, 20 billion and wait this out for 10 months, 20 months. from an investor's standpoint we have to step back. they've got i have trillion dollar backlog over the next we 10 years. they've got to deliver thousands of planes, 6200 plane backlogs, boeing is going to be fine. we were in the market adding to our position like crazy this morning, we did think 35% was extremely generous, boeing started 25%, the union went up to 35%, they are rejecting, some of these workers will find themselves as part of the next 17,000 worker cut boeing recently announced they have to do and may be overplaying,
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looking for a 40% raise but they may get 100% pay reduction. lauren: 1 forget about that 10% of workforce who are going to lose their jobs and more, could happen after this. we will see how that plays out. back to the better story of the day, tesla, the stock is soaring 20%. it surprise a lot of folks on the upside and put the magnificent back, the magnificent seven but not all of them are going along for the ride. what do you make of the significance of what tesla reported? >> i am thrilled and bullish on boeing get and has low going to different challenges but you've got interesting leaders at the helm. one of my hacks is to look at linkedin and look what what employees are saying, you can see the energy, shifting a
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$7 million vehicle recently. it's to be expected. i do not bet against elon musk. i think you see how excited the people are and so much of this comes down to people and vibes. neil: neil: if i am elon musk i'm excited too. on the world's richest human being. i would be happy and dancing on stage is myself but i am curious about tesla and what is remarkable here is the government guarantees and checks you get have shrunk considerably. a lot of tesla sales without any benefits or government incentives, what do you make of that? >> the naked short-sellers got hammered this morning get. i think that's the idea of a government subsidy. they want to promote a specific
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ideology, specific method, specific technology so they have to subsidize it because it is uneconomic in the nascent years and now that is gaining mainstream adoption it is getting a leg of its own. you don't see it across all the car manufacturers. i'm not sure people want tvs but they do want teslas. there is something special about tesla when it comes to evs and i think that will continue as he rolls are refreshed models, more affordable models to the masses. i think he's got legs. neil: let me pursue that with you and what it might say about technology. one thing that has been beneath the surface, we used to have those seven tech stocks for tesla, and all the others in the s&p 500. now is the s&p 493 that are doing quite well, as are the tech stocks. how do you play that going forward?
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>> i apologize for anyone who gets this song stuck in their head but it's like the grease is a word, it's a feeling, that ai, that's automation. that song has been playing in my head all day but that is what we are seeing. i'm really bullish. i'm bullish. you haven't seen this but meta, you look at all the things it takes to power that ai, semi conductors, supply-chain, manufacturing, i'm very excited. this year ends on a high note. neil: i'm old enough to remember that song, no way in heck you can be. or time. the guy in the box next to you but we will see because grease, buying check is the word but thank you very much, appreciate it. we will follow the disparate direction on these two key stocks but may be that is emblematic of this market, they
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are the gainers and losers. stocks themselves are getting pricey at these levels but long before that he was always interested in alternatives, rogue investments, big believer in things like gold, silver, platinum, bitcoin, the company cofounder joins us now. great to have you. what do you think of bitcoin right now? seems to be closing in on $70,000 a coin. a lot of people get excited when the market goes south, usually those investments go up. it has not worked out that way but what do you think? >> i'm a hard-core -- it took me a while, i am an old guy. give me some stats. the s&p is up 24%. gold is up 32%. silver is up 43% because india is buying silver like crazy
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right now. out of the dollar into alternative assets. neil: how will this affect bitcoin? if i remember correctly this could easily go to one hundred thousand dollars, next year may be a million dollars and i thought you were on to something at the time or maybe you were getting onto something at the time so tell me what you see in it that others might be missing. >> the biggest issue is america is now the biggest debtor nation in history. our interest payments on our debt is $1 trillion and if you pay one dollar a second it would take you 32,688 years to pay off one trillion dollars and we are not slowing down our debt. that is why people are rushing get to what i consider real money.
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neil: that is what is driving it. what about attractiveness as alternative currency, less faith in the dollar you might seek out, don't know if currency is the word today for bitcoin but how do you see it beyond a debt issue? >> the biggest issue for bitcoin people, it goes up and down like anything else and 70 bitcoin but also have gold, silver and real estate and don't put it all in one basket. neil: you are not keen on stocks, you look at alternatives as a commodity, is that what you would recommend
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for investors going into 2025. >> i'm a goal minor. the project that bought a gold mine in utah. i talked to all the people out here. one of the best investments, a gold rolex, you can look good with a gold rolex and you will be okay. that's diversification. >> the markets where they stand, they tended to do well, can fisher on with me, what do you think? >> most important, i thank you for letting me be chicken little. for 25 years neil has allowed me to come on and to be the
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bearer of doom and gloom. i was saying to buy silver and i haven't changed. silver is up 43%. neil: you have gotten a lot richer and people should hear that point of view. the foundation of that bearish view on equities is pretty much what you said to me a couple decades ago, you haven't aged but it is based on what? we are a little reckless, how would you describe? >> i am concerned about the bond market. silicon valley, the biggest bailout in history because bonds went bad. i am a hard assets guy. i like oil and cattle and anything the government cannot print.
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neil: that is who you remain. legendary for the rich dad poor dad quote that could change your view. he is still thriving, you need to hear that point of view. the mortgage rate front, when talking about market rates, they and it hit 6.54% from 6.34% but the trend seems to be higher but distinct differences in new home sales are defying expectations and soaring and existing home sales at 14 year lows. what's going on?
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>> we have a massive supply problem. we have so much demands. we don't have enough supply. how do we increase supply. i'm concerned not to make a partisan comment, it would be good for homebuilders of kamala harris's 25 grand is put into effect. they would make more money but the consumer would have home prices go up. we need to have supply go up and therefore prices will go down. until that happens, with higher interest rates you are going to see high housing prices. neil: we are already seeing some signs people are not selling their homes, looking to sell especially in markets in ast, where they are entertaining that, not in numbers that are markedly changing the equation but what do you see going on?
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if they don't budge, this whole situation you outlined doesn't budge. >> i don't think they will budge. you have high inflation relatively speaking and low interest rates and if they bring up those interest rates too much they can't do it and if you keep bringing interest rates up, that is why i say it and keep coming back. and old homes you are talking about or new homes, you have these prices go up. if we don't do something with regulation and don't cut these regulations i think you could see prices go higher and you might want to own bitcoin instead of many other things because inflation needs your way if you don't own a home. neil: we will watch it closely. you are prescient on these housing developments. bill pulte, we have the dow down 300 points.
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an update we want to share concerning mcdonald's and the e. coli issue. they localized the problem. they know it is the onions and they are doing something about that. only on quarter pound burgers. don't know why they are not on any other offerings but that is where they are after this. emergen-c crystals pop and fizz when you throw them back. and who doesn't love a good throwback? ♪ now with vitamin d for the dark days of winter.
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neil: 12 days from the election everyone is focused on what could happen if either candidate wins, thinking on who is on there were teams when it comes to charlie gasparino who joins us with some thoughts. charles: we had a fistfight over your seat. neil: really? i doubt, i could see you doing that but not david. charles: he won. i lost the fight and he's got me. you're sitting on a pillar right now. he kicked my rear end, get it? i know you want to get to this important news.
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cabinets are starting to broadly be defined. let's just presuppose a kamala harris victory. under those circumstances, this is how does being game planned on wall street because obviously wall street cares who is in the administration purely from a regulatory standpoint how it might impact business. they see a republican senate not ease centrally confirming many of her, if she starts going way out on the limb on progressive choices for the ftc, the sec, you name it, they don't see much confirmation there. what you could see in key regulatory roles, the securities exchange commission, ftc, right down the line is essentially the biden
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administration moving into those roles, keeping the current jobs in terms of without getting in a messy confirmation fight with republicans in the senate because they will try to stop just about every sort of far left progressive appointment. for example, if kamala harris goes out and appoints keith ellison, the minnesota attorney general a lot of people think he will be the new attorney general you will get a lot of backlash from republicans given his far left ties to louis farrakhan in the past and he prosecuted the george floyd officers and a reconsideration about the fairness of that trial so you will get back lash on that so you could see the biden administration in many ways supplanted to a kamala harris administration. went talking about trump, different ballgame and the
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names are all over the place, j clayton, the former sec chair, great security lawyer. i heard his name as a potential cia chief, j is too nice to put a drone strike on somebody. more likely he could be attorney general. treasury secretary john paulson is right there. he was on the stage at the economic club when donald trump gave a big economic speech, he could be the treasury secretary, he runs a huge hedge fund, financial implications so we will see how that turns out. a guy named dan gallagher could be sec chair although he's got financial considerations, general counsel for robin hood,
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his stock options are in the black, he's making a ton of money. these are all considerations bouncing around the. it would be a more free market white house the you have the trade specter hanging over these choices even though someone like dan gallagher is not only free-trade, trump has pushed populism and tariffs so it will be interesting to see how that push and pull works out. it may be donald trump uses tariffs as a way to seek concessions when the economic cabinet gets that. neil: you do have to get elected the first to pick out key people and cabinets, with the vice president, kamala harris is there. i don't know what's the bigger
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draw, you have her, president obama and bruce springsteen, that's a pretty effective trio whether it makes any difference in a vote. what are you hearing? >> 12 hours before the show starts people already, it is for obama or bruce springsteen but another difference here. it's about joy and good vibes. that's gone now. the closing argument has little to do with that. it has little to do with her or her policies. it is almost entirely about donald trump. >> you your self have not used that word to describe him. let me ask you tonight do you think donald trump is a fascist? >> yes, i do. imagine now donald trump in the oval office in the situation room.
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that he would be a dictator on day one. >> reporter: the suggestion is that a future donald trump would use the united states military to carry out his personal bidding. >> john kelly, retorted 4-star general confirmed confirmed while donald trump was president, he wanted generals like adolf hitler had. donald trump said that because he does not want a military that is loyal to the united states constitution, he wants a military that is loyal to him. he wants a military who will be loyal to him personally. >> to round out the claims that he's and adolph hitler sympathizer the vice president is refusing to answer directly a question about whether or not
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he is prejudiced against jewish people. >> do you view trump as anti-semitic? >> i believe donald trump is a danger to the world and the security of america. >> he is casting himself as a protector of israel. do you believe you would be more pro israel and donald trump? >> i believe donald trump is dangerous. >> reporter: it will be interesting tonight to see how that fits into the program because it is unclear battleground state voters are going to vote based on donald trump compared to the top ten, top 20 issues that traditionally decide elections, things like the economy and immigration. neil: it is fascinating that no republican has gone on to get into the hitler stuff, the fascist stuff, some go far as to say that the kind of stuff he says even though donald trump argued he never said any of that but they don't take it on or go through any of that.
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they move on, talk about the economy and present day issues but that seems to be the republican party. >> they are trying to have message discipline. when they spend millions over the last couple months trying to figure out in the specific precincts what the issues will be, it is things like the border and that is what they are trying to hammer home. the only defense i've heard from elected republicans about these alleged comments according to john kelly is kelly has said as much in a book two years ago so it is not breaking news but something that is out there. neil: a lot of others have said it. years ago, we see if there's any traction early on. thank you very much.
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neil: you settle for a lesser cut of meat. and popular restaurant, it seems to be very popular. tell us what you are doing. can you hear us? >> i can barely hear you. neil: washout it. tell me how this -- how this cut of meat is working. tell us about it. >> what we are trying to do is drive business by giving people value.
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sometimes -- steak is not cheap anymore. there is not an inexpensive cut. my company has buying power so we can purchase dry meat and good sirloin and a smaller portion at a value driven price. fries are filling people up and are delicious. there is a value treatment component to getting a steak dinner. in some cases $25 at park avenue kitchen by david burke tavern in new york, a $40, 10 ounce sirloin which compared to a steakhouse is a great deal. neil: that is a $24 meat, right? if you go that route. you have a 32 ounce porterhouse for two that goes for $145.
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40 ounce swinging -- really the only way to go. $160. how many are taking advantage of that? >> there is still good deals because that type of meat, that type of cut, some restaurant in georgia, 200. those dropped off in sales in recent weeks. lots of fish and the prize fighting, there is always room for that for certain clientele but for the masses we are trying to get someone who will come back once a week as opposed to a celebration steak. julie: have a lot of signature appetizers, your well known for clothesline bacon, that the
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signature meal of itself. i wonder if people come in for the appetizer. >> people will come in for appetizers and that's okay too and a couple glasses, wine and an appetizer or two and that is okay with us as well. we want to drive traffic which keeps our waiters being paid and in the nighttime we are fooling the restaurant in certain locations, lunch as well. the key is to keep the volume up and figure out how to make money. it would not be sustainable. the bacon is a bargain hat $19. what happening when you go out, people forget paying 10% tax, you are adding 30% to everything.
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filet mignon is $55, the side dishes 15 and a glass of wine is 20, up to $90. you tip $120 for a glass of wine and a main course in a decent restaurant in new york city. . 20 you have a lot of decent restaurants and bacon is one of the signature things. it is good having you. keep us posted how this is going and try to help your customers out and stay in business, seems to be working. >> it is a strategy. like playing a sport. neil: is working get. speaking of food, talking mcdonald's, you decide after this.
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it's our son, he is always up in our business. it's the verizon 5g home internet i got us. oh... he used to be a competitive gamer but with the higher lag, he can't keep up with his squad. so now we're his “squad”. what are kevin's plans for the fall? he's going to college. out of state, yeah. -yeah in the fall. change of plans, i've decided to stay local. oh excellent! oh that's great! why would i ever leave this? -aw! we will do anything to get him gaming again. you and kevin need to fix this internet situation. heard my name! i swear to god, kevin! -we told you to wait in the car. everyone in my old squad has xfinity. less lag, better gaming! - it's something about having that piece of paper.
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some people think that's worth more than my skills. - i've run this place for 20 years, but i still need to prove that i'm more than what you see on paper. - you gotta be so good they can't ignore you. - it's the way my mind works. i have a very mechanical brain. - analytics and empathy. that's how i gain clients. - i am more... - i'm more... ...than who i am on paper. neil: we could get a big announcement out of the district attorney's office concerning the menendez brothers that could end the saga or get a new trial.
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>> george gascon will make a reset to a recommendation at 1:30 in the eric menendez case. the final decision will be up to a judge has scheduled a hearing in late november. the menendez brothers served 30 years of a life sentence without parole for the murder of their wealthy parents. prosecutors argue they were after the parents multibillion-dollar steak. the legal team say they acted in self defense, including sexual molestation over several years. a letter the da is reviewing corroborates there stories prior to the murder saying, quote, i've been trying to avoid it. it is still happening. it is driving me crazy.
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every night i stay up thinking he might come in. >> with 40 years of this, i've never seen the amazing, exemplary rehabilitation and mitigation evidence we have presented to the da's office. >> 2 dozen family members from the men and does family calling for the brothers's release, they say the murder was tragic, so was the abuse. >> their actions, while tragic, where the desperate response of two boys trying to survive the unspeakable cruelty of their father. >> reporter: 56-year-old lyle and derek could get released. lauren: 1 of drama it has been.
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the e. coli breakout, they isolated it, doesn't mean they've solved it. david asman has more. david: it came from the young ones. the quarter pounder was the burger we were talking about. the meat is cooked at one hundred 75 degrees which kills e. coli which dies at 160. a company called taylor farms had a recall from the owner of taylor farms. and one person did die as a result of this. we've seen a lawsuit come in, to go to the hospital, the
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lawsuits were coming. it is tough for the people who get sick first of all. there is a bunch of free publicity from both presidential candidates, to work at and to eat from from harris and trump. then came the news and drop went the stock. it is those raw onions, they recalled all the onions so it appears for the moment unless there's a chapter 2 of this that it might be over. particularly if there are more lawsuits. neil: thank you for that, david asman following closely as is doctor marty makary, fox news contributor. the e.
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coli worry, is it justified. i don't want to go to mcdonald's. until they settle this thing. >> they found the supplier, it appears to be regional, in neighboring states region. people look for watery diarrhea. people will feel sick and uncomfortable after you eat fast food. it can lead to dehydration and other things. that's what you want to look for. lauren: 1 do you do if you've got it? >> we diagnose it with a stool test and a lot of times it is supportive care. what gets people into trouble is dehydration from watery diarrhea. iv fluids will take care of it.
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neil: at the risk of lunchtime, and they are might be rethinking it. what is your sense of this. different with the board situation but this is come up and makes you wonder about the safety of food system. how do you see it? >> i can talk about this. we were saying it might be crap to you but it is bread and butter to me. we see more and more foodborne, mass production of agriculture. we see how the supply-chain gets narrowed down and we see a lot of this stuff. you look at crowded conditions the way animals are raised in factory farming, we will see more of this. neil: if i could switch gears,
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a report that ozempic has the benefit of reducing the risk of all timers disease. first of all, is that accurate? obviously that opens up another market for this medication. >> i saw that study generating a tremendous amount of interest as if mozambique is a magical pill that can treat different conditions. in a retrospective study of 1 million people who did not have alzheimer's but had diabetes or are at risk of alzheimer's, it found that people who took ozempic were less likely to develop it. it's not a great study, it has methodological flaws but it would make sense from a logistical standpoint because we know alzheimer's somehow associated with inflammation and obesity is an inflammatory condition. my concern is we are only talking about medications to
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treat obesity and not our poisoned food supply which is the root cause. neil: it has been a while but people are wondering about covid incidents that seem to be on the rise. most like a cold today, a lot of people have gotten hit with this thing. they are soon back at work. how would you handle lies the environment. >> 5 or 6 respiratory pathogens circulate including four other coronavirus is. they give people a common called the vast majority of the time and some who are high risk get into more trouble. it has become one of those cyclical viruses so we keep an eye on it. neil: we've got the dow down 180. car, this isn't the way home.
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neil: it's all about the race. we a process about this for good reason, the dow was off of its lows, doing a lot better than it was faring yesterday and in large part because the 10 year treasury note or bond was moving at 4%, down a tiny bit today a full point higher than where we were five weeks ago but we were in the 360 neck of the woods. that could be a problem. if you have a guaranteed rate, investing in treasury security would you want to trouble yourself in the stock market? less so right now. taylor riggs and "the big money show" guys
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