tv Cavuto Live FOX News February 17, 2024 8:00am-9:00am PST
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after getting hit with a massive $354 million fine over his real estate business activity for the better part of decades, donald trump hitting the campaign trail today. he's in south carolina. he does plan to continue picking up the campaign activity ahead of the big south carolina primary a week ay. we talked to nikki haley about what's at stake and how all of the legal stuff the former president is going through could change that race from columbia. >> the former president is rallying in michigan tonight and the latest ruling packs a financial punch no doubt. the $354 million will be have to be paid in full and placed in an account until the appeals process plays out. and the ability to secure credit. the judge in this case found that the former president had inflated his business assets to secure better loan terms from
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banks and expressed the trump team lacked remorse. letitia james put it this way. donald trump may have had the art of the deal, but perfected the art of the steal, and egregious, illegal and he did all of this-- >> he did all of this, she says and he's been barred from running his businesses this for three years and trump was rejected this and what he sees as the d.a.'s motives. we have a corrupt attorney general and she campaigned on i'll get donald trump, they've all seen it. well, we'll be appealing. >> this is all happening a week out from the south carolina primary. former governor nikki haley rallied in texas last night and
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she's here in her home state and saying this earlier about trump's ability to pay back the legal fines against him and the general election ahead. >> i'm worried about the rnc becoming his personal piggy bank. there's no way that donald trump is going to win this election. you're going to have a female president of the united states. it's either going to be me or it's going to be kamala harris. >> so, this race for nomination, it's been an uphill battle for nikki haley in her home state as predicted and she says after the south carolina primary there are 20 more sates within 10 days that are going to host their own and she doesn't want to discount those voters and former president trump will be in michigan tonight, neil. neil: thank you very much, alexandria in columbia, south carolina. the primary she indicated, it's a big one next week, next saturday. the legal fallout from the legal cases that trump is
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dealing with, with court cases and jury selections on march 25th in a separate court case also involving some of his finances, hush money, that sort of thing. his docket is filling up quite literally. ka katie joins us the former federal prosecute constitution and attorney, and guy lewis, former prosecutor as well. katie, if i begin with you, what's appealable here. some say this is a specious argument, a big test in new york it's never been used against any individual or company in the past, but it has in a big way against donald trump. others citing that the veracity of the witnesses and experts is such, very tough to appeal what they were saying. where are you on this? >> well, i think that this statute presents significant appellate issues. when the appellate court looks at this case they have to look at the legislative intent behind this statute, was it meant to go after specific businesses without any complaining parties coming
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forward? and again, this is a civil case. there's fraud allegations, but certainly, there's never been a criminal charge of fraud defense trump or the trump organization. i think on appeal, the appellate courts look at legal issues, but the trial court's findings of fact and if there are clear erroneous findings of facts in terms of valuations they'll look at the applicable statute and if it's to be used in this way. i find specious myself. $354 million fine and it could run as high as $450 million with back interest. how much of that does the former president have to put up as he tries to fight this on appeal? >> neil, i think he's going to have to put up a large amount or take out some kind of bond consistent with new york state law and i've got to tell you, katie is one smart lawyer, i
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think she's 100% right and the other point i would bring up, just so troubling to me as well is every time you either prosecute or you're involved in one of these cases the critical thing is the amount of loss, the loss amount always drives the penalty and i just don't see how this judge in any way, shape or form gets to $354 million. you were kind enough to have me yesterday and i was like swinging for the fences guessing at 150, thinking that was way high, and boy, oh, boy, was i wrong. >>. neil: you know, you always worry about the slippery slope aspect of this as well. and he touched on it there and how far this goes and the signal it sends other businesses which we'll be getting into. and the fact that this has never been used. it's been on the books forever, i understand, but it's never been used against an individual in new york as far as i know or
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a combination of individuals and businesses. so, why now? why donald trump? why real estate transactions and valuations for whom there were no harmed parties? >> well, of course, donald trump's argument, which seems quite credible, this is a political persecution and it was a targeted choice to go after him by the ag when there were no complaining parties and certainly no harmed parties as it turned out as well. it should have a chilling effect on businesses in new york, theoretically, anybody could have their books looked into just affirmatively-- or unilaterally by the ag without anybody coming forward, but certainly, it seems that this is very political. neil: you know, another thing i caught, guy, in the case of the judge, and comments on behavior of donald trump in the courtroom and how in your face he was. i would be in your face if what you're saying and charging seems totally unreasonable and
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totally without facts supporting it or prior legal precedence supporting it so i might be a little unruly myself at that. i probably get that way when they're out of prime rib at the buffet. and this is up there with it. i'm wondering, guy, did you find that to sort of be a dig and sort of classless dig that was not necessary for the judge to say or later on, maybe unable to hear it from letitia james herself, but it seemed like overkill? >> definitely overkill. let me tell you, when katie and i were federal prosecutors there's no way, first of all, we would ever come out before the case is filed as we're trying to get the jobs and guarantee prosecutions or investigations of people, and even if, once we got the job, the office wanted to open up that kind of case, katie and i
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wouldn't be involved in it. we'd be recused and indeed, the whole office would be recused. so, your question is spot on. if it's not -- if they're not trying to get to the real conduct here, either misleading the banks, which they testified they weren't misled, or losses to victims, which the evidence indicated there was none, then why the 354 million? it has to be based on something and i think your question about politics is, again, spot on. >> it's too soon to tell what the political fallout will be and katie, what we've seen in the past whether indictments or charges or sweeping allegations, donald trump seems to get higher in the polls. we don't know what the fallout will be here, probably the same. having said that, i do wonder about the president's ability to put up so much cash, he would have to liquidate some things and he would have to use
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his collateral, the very properties in question here. so i'm not sure he can do that. so how does he go about this, just raising the money? >> well, i think that he has come back from deficits in the past. he's known as teflon don for a reason and this is a financial hit for sure, but it's money and i think that he can make it happen and certainly, i think politically it has not hurt him for good reason. it seems so targeted and so political. so i wouldn't be so concerned about the financial part, but it is a significant hurdle he needs to come up with that money in the next 30 days or so if he's going to proceed with that appeal. neil: nikki haley was on earlier with us, and guy, one of the things she said he'll tap his campaign funds as he has in the past. it's perfectly legal, whether people know in the trump campaign might know it's going for legal bills.
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>> i think that's frankly, personally concerning and yes, you can hit the political campaign coffers, but i don't think that plays well. i think they're talking about legally, i think they expected the lawyers expected a hit. maybe not this big, but a big hit. and i think they're probably marshalling some assets or some other things that might satisfy the bond and if it were me let's go ask the court of appeals for extraordinary relief to either appeal without the full entire bond or something along those lines. neil: yeah, that's a seven-member court, as far as i understand, they serve seven years or 12 years, right, maybe longer and as far as i know, katie, all democrats picked by either governor cuomo or governor hochul. does that make it a stacked deck or potentially one? >> i always like to give the benefit of the doubt to
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judicial practitioners they will look at the law and apply in a fair manner. this is an unprecedented case, and difficult to make comparisons to other appellate cases that have come before them, but certainly, that cause concern for trump in particular, but amazing to see how they come down on this. neil: justice can be blind and maybe peeking a little. we'll see. katie final word on that. thank you, guys, for your expertise. appreciate it. the business fallout, a lot of new york companies and ceo's have been chatting the last 24 hours or so and some of them not big fans of donald trump, there but by the grace of god go i? big apple, big retreat? after this. ♪
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sense of humor, but he's an accountant and can help me and my dumb questions and i have a ton today. from the accountant side of your fine mind, help me and the ceo's i've been chatting with fear there but by the grace of god go they. they're no fans of donald trump, but no fans of what one called a legal kabul against him. and no harmed parties and the series of rules and laws, whatever you call them, have apparently been on the books for many, many decades and never been implemented until now. what do you make of that? is it a legitimate concern for them? >> you're right. let's remove donald trump from the equation and he's polarizing. regardless of the facts, people say he's right or wrong depending how you feel about him. if you look at the facts
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related to this case, it's extremely disturbing. neil, when you have a situation where people are applying for loans and they have to provide personal financial statements to the bank, those financial statements are based upon estimated value so now it's really up to the banks to do their due diligence to see if they agree with the appraised or estimated values or not. it's not like they're audited. so the bank is going to do their own work on that. now, in this case, based upon the fact that the banks were willing to lend the money. they took into consideration whatever trump said and did their own work on it. for this case to go down this path has to have ceo's extremely concerned about the process of getting loans. neil: it just stuck out in my head that, obviously, this is going to raise a lot of issues
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here because we've never seen these issues raised prior, but one of the things when i started looking through this decision, frankly, i didn't understand a lot of it, but it goes back to valuations of real estate and one reference there, i wish i had it in front of me here, where they made a reference to some properties that were many times the average of properties in america. well, if you're valuing properties, let's say in palm beach county, florida, one of the exclusive or richest on the planet or new york city, where it isn't a stretch to see penthouses going for 100 million dollars or more, that they're different universes. i found it interesting when they were doing comparison, this is out of whack with national numbers. well, those are two very different planetary systems. you know, palm beach and new york city, and when i caught
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that, i thought, that's one thing i understood. what else do you have hidden in here that you've made a big deal out of that isn't warranted? what do you think? >> well, neil, here is goes when you talk about the three most important things with real estate, location, location, location. so, you're absolutely right. you have to look at what equivalent properties there are. in that geographic location. you cannot take a look at the values in new york city and compare those to the values, let's say, in the midwest, which would get grouped into coming up with a national average for something similar. you can't do it that way. so, when you look at how this case was approached, i mean, there's plenty to be concerned about, so it's no wonder that people are looking at this and saying, you know what? maybe donald trump is right. they're specifically going after him because the basis of
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so many of these things, neil, just seem completely unreasonable to the layman. like you and i. just looking at this and saying, it doesn't make sense. >> yeah, i caught -- i hope i'm right on this, but there's a property not too far from mar-a-lago, that's on the market for, i think, $265 million. it's a beautiful home, right on the ocean, but i'm thinking to myself, mar-a-lago is like a castle compared to it, so a billion dollar or more valuation doesn't seem like a whacky stretch, but again, if you're a lender and you're saying that that is a whacky stretch, they're going to relay that to donald trump or, you know, the syndicate behind, you know, his financing and say, all right, this isn't going to fly because it's in their interest to make sure everything is on the up and up, so they get their money back and valuations are deemed realistic enough for them to keep providing money, right? >> you're exactly right. neil, look at the most basic
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example. when somebody buys an average home and they're applying for a mortgage. in spite of what ever the purchase price is, what does the bank do? they look at what the market value is and the bank may say, you know what? in spite of the fact that you're paying this much money for that property, it's actually worth less in our opinion, based on comparable properties and therefore, we're only going to lend you up to what we believe the value is. so, ultimately, neil, it goes back to the bank. it's their responsibility to figure out what that value is because they're lending against that value. it doesn't matter what you paid for it. so, i think the average american can understand that con concept. neil: yeah, real estate, particularly, is in the eye of the beholder.
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some people's seller price may not be the ultimate purchase price for someone trying to buy it, but it is what it is and that's the basic 101 on real estate itself. but we'll see how this all sorts out. dan, thank you very much, good seeing you. >> thank you, neil. neil: in the meantime, the political fallout from this, let's say you're not into real estate, you might want to be into those who are saying, that could be the saving grace for donald trump, that he did nothing wrong politically, the fallout that you don't know after this. ught the team! kevin...? i put it on my chase freedom unlimited card. and i'm gonna' cashback on a few other things too! starting with the sound system... that's caaaaaaaaash. cashback like a pro with chase freedom unlimited. how do you cashback? sometimes jonah wrestles with falling asleep... ...so he takes zzzquil. the world's #1 sleep aid brand. and wakes up feeling like himself. get the rest to be your best with non-habit forming zzzquil. ♪ ♪
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it's going to be kamala harris. neil: all right, nikki haley responding to the latest legal issues for donald trump, including that mass i have $354 million fine, some way with back-dated interest may be as much as $450 million and that he'll campaign cash to pay a lot of that. we don't know that for sure we know she's making it a very big issue for sure. we've got julia manchester, politics reporter. julia, to you and not necessarily the new, but cases have been bedevilling donald trump for a time, but the big settlements he doesn't like with e. jean carroll and with the new york attorney general. what do you make of the strategy to remind folks that this is going to be pre occupying him, oh? >> yeah, look, you're right, this is nothing new. nikki haley says look, i'm the
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non-chaos candidate and pointing to donald trump and what she says is the chaos that follows him and like you said, the e. jean carroll case, this civil fraud case, obviously, the case in georgia, the list goes on. she points to that and says, look, i'm going to be talking about the kitchen table issues, the issues that you care about during this campaign while donald trump is preoccupied with his legal issues. on the other side of this, she points to biden and says, you know, he's too old. she says that about donald trump, but she points to the chaos that surrounds biden talking to the foreign conflicts that have broke out during his administration, talking about, you know, the special counsel's report a few weeks ago he was called an elderly well-meaning man. so nikki haley is going to try to be, to position herself as she has this entire campaign as the adult in the room and we know that she's a very good general election candidate when it comes to going up against biden. the problem for her is though, in the republican primary,
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she's trailing donald trump by 30-plus points in the home state of south carolina. and no look at dropping out and for super tuesday states. neil: she's got a scorched earth more than prior, forget about the repercussions personally in the party, that she might be persona nongrata the longer she keeps this up. you can understand her standing up in the race and each candidate is a long way from 1215 delegates they'll need. even if she gets potentially blown out in the state she governed for two successful popular terms, she fights on and for super tuesday and bit by bit acquires delegates and always there if something implodes with donald trump. what do you think of that strategy? >> i think she's hanging on to a statistic that said that 53%
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of voters says they'll never vote for trump if he's convicted in a crime and the person that could win in a general election. the problem is trump's support is so strong. 8 in 10 republican voters are angry right now, they're mad because they feel they're being treated unfairly and they believe the system is rigged and they want someone that's going to fight for them. that person is really donald trump. donald trump is absolutely got all the momentum and he's at the bottom of the narrative that's driving the republicans forward. only 4% of americans right now believe that the political system is working for them. and that's really just staggering when you think about how people think about what's going on and two in three people think what is happening to donald trump is politically motivated. a complete lack of trust in the system. donald trump is positioning himself as to fight, fight back to the system and really try to fix the system that doesn't seem to work for people. and i spoke to one voter who said, he's somebody who is fighting for us and it's time
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for us to fight for him because this could happen to any one of us. there's a kind of feeling and connectedness that people have with donald trump and people who don't support him and dislike him, don't understand. so many trump supporters feel that he cares about them and the american people. if you don't like him, don't support him and don't understand. but trump supporters really do. neil: that's among trump supporters. general election supporters we'll see if it ever gets to that stage. lee final word. thank you both very much. meanwhile, the incident of course with vladimir putin's most prominent critic, alexei navalny. we now know and they've confirmed that he did indeed die. we don't know the details how he died and the president of the united states thinks that, well, vladimir putin had a lot to do with it after this. knot just want a low price... you want the lowe's-est price. did you say lowest, or lowe's-est price? it's basically the same thing. if you find a better price somewhere else,
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that he had died, we learned that 47-year-old alexei navalny looked perfectly healthy, even laughing in some video then that looked like outside his prison cell. don't know for sure the accuracy of the timing of that or where it was taken, but, again, nothing that would telegraph what happened to him. stephanie bennett, fox news correspondent in london has the latest on that. stephanie. >> neil, his spokeswoman confirmed his death this morning and demanded that his body be returned to family immediately, but the problem is, the whereabouts of his body remains a mystery at the moment. now, today, alexei navalny's mother was seen headed towards the investigative committee office east of moscow near the prison colony where he was serving a three decades sentence. earlier he she and a lawyer were told he died 3:17 yesterday afternoon of sudden death syndrome, while russia's
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federal penitentiary service said he fell sick during a walk and fell sick and died. and the family maintains that he was murdered. >> we knew there was a risk. alexei knew it as well and just yesterday the -- well, they murdered him as they planned to do it three years ago. >> now, the 47-year-old former lawyer rose to prominence more than a decade ago by documenting and speaking publicly what he said was the vast corruption of those running putin's russia. despite his loss, his spokeswoman says he has been a symbol of hope and wants western leaders to hold putin responsible. today u.s. secretary of state antony blinken met with leaders of germany on the sidelines of a conference, says the death of navalny is reminder of the russian government and russians
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and whoever opposes him. however, a spokesman calls the west reaction unacceptable as putin remains silent on this issue. today, dozens of people in russia were arrested as they grew in moscow and they were piling up outside of the russian embassy the cause of death has not yet been determined, but stay with us for the latest. neil: stephanie, thank you for that. let's go to former general petraeus, you know him former army general, and chairman, and what do you think happened? do you think that navalny was murdered? >> i do. i think that's the general, very broad consensus, really quite stunning, but in some ways he lived longer than i think many of us actually thought he would.
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of course, he'd barely survived the effort to poison him before. remember, he had received treatment in germany, recovered, and the courageous anti-putin, anti-corruption, anti-russian federation that's turned out to be crusader that he was, he went back to russia knowing he would be arrested on arrival. he was. he's endured incredible hardship essentially penal colonies often in solitary confinement and amazing that he was allowed to live as long as he has given how effective he was in exposing the corruption, the lavish, 1.3 billion palace that putin had built for himself in the black sea and so forth, been a major thorn in putin's side, the most effective and clearly the most courageous of his political opponents and now he is no more and also, by the way, in the
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latest election, that's going to be held, the one individual who was starting to get a bit of traction' posing putin has been declared ineligible to run for office. anyone who had remaining illusions about the russian federation and similarity to a mafia state i hope no longer has those. neil: general, we know president biden is convinced, as you are, that vladimir putin was behind this. he didn't link him to an outright assassination, but that he was behind this. i'm not sure semantically, sir, the difference. we do know that president trump, former president trump has not been very critical of vladimir putin, in fact, he admires him on any of his tough stands and what a great leader he is compared to a wanting n.a.t.o. what did you make of that? >> look, my assessment is that he is, again, an incredibly brutal murderous, kleptocrat
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who has any number of individuals' blood on his hands. and remember what he did to prigozhin as well. and what he's done to his neighboring country whose very existence he denies is allowed. he cannot tolerate a successful, thriving, prosperous democracy and free market economy however flawed ukraine's democracy may be, he couldn't tolerate that on his word, and so he invaded in a brutal and unprovoked manner. again, by the way, he won't stop there and so, i hope that, you know, the scales have fallen from the eyes of anyone who still has any misconceptions about putin. this reveals this once again and of course, the timing of this is very, very suspicious, we're right at the munich security conference, it was announced the buzz, literally a
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gasp went up in the hall when the word spread. navalny's wife actually then took the stage after vice-president harris made a very powerful statement noting that she was undecided whether to go to her children immediately or to go on stage and she decided that he would have gone on stage and so, that's what she did as well. but again-- >> what does that tell you in and of itself, general? what does that tell you? that he chose, if vladimir putin were behind this, this time to do it. wouldn't he invite a lot more controversy and wrath doing this now when you could have just, you know, had navalny stewing in a siberian jail cell? why upset the apple cart now? >> i think literally to inject, again, controversy into this session that is here, if you will. again, to be on the-- in the conversation on
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everyone's mind. again, i think it could colossally backfire. i hope those in washington are debating whether to approve the $600 billion in assistance to ukraine and also assistance for israel and for taiwan, will now expedite the process of completing that. one of the real takeaways here is it that ukraine is in a difficult situation, even though the eu has just stepped up. for all of our criticism and i was a one star, two star, three star naval command er dual hat position, we were looking at lack of spending. and 81% n.a.t.o. are looking to the 2% and eu as body approved $54 billion equivalent for
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ukraine given two for every u.s. dollar that's been provided so far and we've seen ukraine have to make a tactical withdrawal from a position that became increasingly exposed in part because they do not have sufficient ammunition for their artillery and also grave concern about the number of interceptors they have for their anti-air and ballistic missile defense systems. those uniquely come in industrial strength at least from the united states. so i hope that this will, again, clarify the situation for anyone who is still undecided and that we'll see expeditious approval of that assista assistance package that's been approved by the senate and may or may not get to the house. it has to get to a vote. neil: that's not a given, general, to your conclusion there. general david petraeus. good to see you. >> good to see you, neil. neil: we're following some cross-currents here and pretty
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nasty weather. snow for the northeast better than 60 million americans are under this system right now and we're told that we're just a few days away from yet another one. the latest on mother nature and what she's dishing out after this. you're so much more than just a landowner. ( ♪ ) you're a gardener. ( ♪ ) a groundskeeper. ( ♪ ) a landscaper. ( ♪ ) because you didn't settle for ordinary. same goes for your equipment. versatile. powerful. durable kubota equipment. more goes into it. so you get more out of it. ♪ why won't scout play with us anymore? he has something called osteoarthritis pain. it's joint pain that hurts him all the time. come on, scout. now, there's librela. the first and only once-monthly injection to control your dog's oa pain. veterinary professionals administering librela
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taking ozempic® with a sulfonylurea or insulin may increase low blood sugar risk. side effects like nausea, vomiting, and diarrhea may lead to dehydration, which may worsen kidney problems. living with type 2 diabetes? ask about the power of 3 with ozempic®. >> other, we've got some nasty weather, folks, for about 65 million americans. some said i was off before, i don't know the exact number, but a good number of americans are under the path of this thing. and it is delaying a lot of flights and causing travel for a lot of folks even far from the snow so that's the big issue. in florida right now, particularly around the daytona area, the bigger issue is rain that could disrupt all practices for the big race tomorrow. and right now, they're very worried that they might not be able to get this off on time or dealing with a threatening sunday weather outlook. so, the issue for much of
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florida, daytona and north is rain and a lot of it. and the issue for much of the east coast and well into parts of the midwest is snow, and a lot of that. we are on top of both. we'll keep you posted. we'll have more after this. a few years ago, i came to saona, they told me there's no electricity on the island. we always thought that whatever we did here would be an emblem of what small communities can achieve. trying to give a better life to people that don't have the means to do it. si mi papá estuviera vivo, sé que él tuviera orgulloso también de vivir de esta viviendo una vida como la que estamos viviendo ahora. es electricidad aquí es salud.
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>> some shocking devastation in sterling, virginia. a louden county fire and rescue investigating this morning after a catastrophic house explosion claimed the life of one firefighter. 14 people were injured in all of this. most of them were firefighters. loudon county fire chief johnson spoke about the tragedy moments ago. after arriving on the scene, our crews found a 500 gal underground propane tank
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leaking. the propane from that leak migrated in the homes. when firefighters arrived at the home they assessed the situation and entered with the appropriate ppe. at that point, at 2025 hours, units on the scene reported a catastrophic explosion. that caused multiple may-days of firefighters inside the structure and injured firefighters outside of the structure. the two occupiers of the home were removed along with the pets. and we can credit the firefighters. and efforts to rescue the trapped, and commenced 2028 rapid intervention task force and second alarm requested to the scene. at 2036 hour a second may-day occurred, a second firefighter trapped under the debris in trouble.
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at 2115 hours, the incident command reported that all units were accounted for and receiving medical care. it was somewhat chaotic and we tried to figure out how many firefighters were trapped under debris and what you see at the scene. neil: horrible, horrible incident and they hope to give other updates as the day continues here. this was last night in loudon county, virginia. meanwhile, we're wrapping up for the financial markets the first down week we've seen after five winning weeks in a row. in fact, they had been putting together some record-setting notches 15 # out of the last 16 weeks positive and now more like 15 out of the last 17 weeks. the big catalyst for the back up this particular week was a rise in interest rates, having nothing to do with the federal reserve and everything to do with the market's fear that inflation is picking up steam and at the retail level, the wholesale level and that's lifted the 10-yield note to the
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highest it's been for the better part in about two years and 10-year is attached to mortgages and car loans and doe doesn't kenny know it, one of the early ones, the federal reserve might be inclined to want to cut rates and soon, but it's far from guaranteed. in this environment, kenny, so good to have you. i don't know if that's on the docket anytime soon. what do you think? >> listen, after the data that we saw last week, i'm not sure how the fed could actually convince anybody it's the right or smart thing to do. because like we saw, cpi started to tick up and even though it's slight, the ppi number on friday was even up bigger than the expectation and more than the cpi and you know that the ppi leads the cpi because keep at the producer level and rising prices at that level tend to make their way over the system over three or four weeks which means that the next cpi reading next month
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could probably be even m more elevated than this one and the fed caused to sit back. no one should be surprised. the fed has been pushing back on the narrative the market has been screaming, four, five, six rate cuts and the fed has been clear, aware that inflation is a sticky and a problem and i think that last week's data shows that. >> the cpi refers to the consumer price index, retail inflation stat, the ppi, producer price index on the wholesale front and both were showed some uptick surprises. if the fed were to cut rates put off some thought next month. and that's out the window and some say could be the latter part of this year, where are you on this. well, i'm actually in the camp they shouldn't cut at all. the data doesn't suggest a strong wage, and strong economy, strong job market.
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neil: and if it did, it might-- >> absolutely, cutting rates by the fed is actually stimulative to the economy and apparently the economy doesn't need any stimulation right now, we're doing fine. the problem we need to understand, we're getting within the six-month window of a presidential election, after may, you're within that window, right? and so the fed is not supposed to rates in either direction up or down during that window for fear of being seen as political. so if they don't move in march which they're not going to move, i don't think they're going to move in may, june is right on the line, june is right on that six-month window line and they're going to be very, very careful if they do anything how they're going to relay that to the market and that could be seen as something different. after june, i don't think there's a possibility they'll cut rates unless the economy is starting to circle the drain, which is not happening. neil: let me ask you real quickly then, i'm jumping on you for a good reason, we're going to be out of time. but you know, obviously, this
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makes our debt more pricey, it costs more to carry that debt. we've already got record amount of debt. that could blow up at any moment. you have 10 seconds to share what we could be looking forward to. >> you're right, it could blow up and i think it's going to blow up the further into 2025, you're going to see even more record amounts of debt needing to be financed, all of that supply comes to the market and prices go down, and yields will go up and that's going to become more expensive. neil: absolutely. kenny, always good to see you, my friend. following these developments closely. the markets are closed monday for president's day, but we are going to continue following that on fox business and always be open for business so we'll be joining you on that day, but bottom line here, the markets now are kind of worried about what the market rates are telling us, not what the fed is doing. the fed can't control those rates. they're going up and a lot of people are biting their nails and whatever. (♪)
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(♪) (♪) the ball is out and there's a pile-up. -let's go! -get in the pile! ugh, i'll deal with this tomorrow. you won't. it's ripe in here. my eyes are watering. i'm a busy man. look how crusty this is. shameful. ugh, it's just too much. not with this. tide. tide can tackle any pile. that a tackle pun? just clean the pile, ron. okay. this too. that was easy. when stains and odors pile up, it's got to be tide.
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