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gerry: hello. this week on the "wall street journal at large," nancy pelosi defies china and pays a visit to taiwan. is this bold leadership and defensive freedom or reigns leadings kick that could rebound on the u.s.? job growth in july and democrats are set on hitting the economy on massive new tax in spending bill and arizona to michigan, republican voters endorsed-backed candidates and signal of ascendant populous gop or could it spell trouble for the party in november? plus candidates vote to -- canada votes to keep women's rights to abortions. did the fbi protect hunter biden from investigation over his foreign influence pedaling. that's under fire this week. we'll discuss all this and more with our guests miranda devine and more. the public health mandates and nancy pelosi stepped off military aircraft in taiwan and became the most seen yore u.s. official to visit the self-declared autonomous island in a quarter century. the house speaker demonstrating caution against the small risk of sprea

this a nice story, clean determined to do duty at balmoral, gerry?— duty at balmoral, gerry?ral, gerry? this is the forming of a new government i duty at balmoral, gerry? this is the forming of a new government and i forming of a new government and there were some rumours that maybe charles would do it in london, but it seems the queen is determined to do it but that might mean the new prime minister will have two hotfoot it to bowl merrill —— bal moral. but the queen, as we know it is very committed to her duty and she wants to carry this out. she has said, can you come to me rather than me come to you? it you come to me rather than me come to ou? , , to you? it is interesting, the new prime minister _ to you? it is interesting, the new prime minister on _ to you? it is interesting, the new prime minister on the _ to you? it is interesting, the new prime minister on the fifth, i to you? it is interesting, the new prime minister on the fifth, but l prime minister on the fifth, but they will not be sworn in until the sixth, so they take over on tuesday week. but then the story

gerry: it may not be what republicans want to hear. this is biden's border crisis approaching a new record with over 2 million migrants expected to cross illegally into the country this fiscal year and schools pushing out for new woke lessons with the gender bred person. we'll take that up with our panel but first, on tuesday the president signed into law something that will increase federal spending by more than $400 billion and probably a lot more but other than running up federal expenses, what exactly will this law do? it's called the inflation reduction act, but as you might have noticed, democrats are struggling to justify that optimistic title. >> is it misleading to call this the inflation reduction act for american when is it's not going to make their grocery bill cheaper or every day goods cheaper for them? >> why would it? immediately it's not and we didn't say everything happened immediately. >> if you pass a bill fill every pothole act, voters expect you to fill every pothole. should this be measured on how much you reduce

gerry, what a mess from the wait house's point of view. the way it's been communicated. once this was leaked, there was no way it couldn't go ahead. it would have looked incredibly weak, the prospect of a protest from the chinese government. the speaker of the house, the third in line of success in the united states political hierarchy. the leak should not have happened. to be honest with you, charles, there's a bigger problem. why wasn't there better communication with the white house and the speaker's office? of course she's the speaker and allowed to do what she wants within reason. this a delicate moment and a challenging time. china has a lot of problems at the moment. why this was not discussed more in advance, why the administration could not have lent on her to say, you know what? this may not be the right time to do this. china is going through a bad time economically. we have this issue with ukraine. the last thing that we want is for china to start supporting giving russia more support with regard to ukraine. this is bad diplomacy on the part of the biden admi

gerri, how does karine jean-pierre say what world-class tennis player.s the news of the week. you were there yesterday. what was the atmosphere like? >> let me point out another double standard. we go to arthur ashe stadium. we are talking to everybody. thousands of people. nobody's wearing a mask. you'd have to prove no vaccination. then you go inside and use it cheek by jowl. nobody cares. you are telling the guy who is socially distance playing tennis, he has to be vaccinated? that's crazy. i don't understand. she's crazy. they are crazy. john mcenroe says the usda has to get in here and make sure that they try to defend this guy. djokovic should be supported, not just hands-off, well, whatever the government wants to do, that's okay. >> yes. >> dana: joey, every day you can watch bill mucha at the border. literally every live shot. you can say dana, before i get started, i'm watching 150 people walk across the country. bill melugin. >> that tells me peter doocy is way better his job in our current press secretary is at her job to the point of... [app

. ♪ james: hello, i'm james freeman in for gerry baker.he biden backlash may cost half a trillion of your dollars and it's not even legal. the expected red wave in november is looking more like a ripple and maybe even with a shade of blue. plus, how to hold dr. anthony fauci act a accountable for thed lobdowns and what -- lockdowns and what it means for the wokeness in the sunshine state. first, president biden this week launch add historic assault on taxpayers by canceling up to $20,000 in federal debt, federal student loan debt for most borrowers drawing mix reaction from americans. >> take out a loan, go to school, pay it off just like everybody else did. >> i don't think it's enough. i think it needs to be more than that. >> the debt forgiveness, no. nope. james: president's illegal plan to make taxpayers erase the debts and see how largely will in many cases shower benefits on borrowers who don't need help and foot hard working americans with the bill. the biggest bailout for the academic woke sterling heightses who get paid handsomel

gerry back next >> "barron's roundtable" sponsored by global x etfs.s roundtable" where we get behind the headlines and prepare you for the week ahead. i am carleton in. in for jack are. fed chief j powell warning economic pain, but the fed will do next with jpmorgan

tenle paciencia, gerry. tú puedes, ¿verdad, ma? sí, mi amor. no siempre sale a la primera.

gerry calling and climbing his way back to the top the call for help.ering the call. together, the two men and their teams making the trek back into thecave to find the dog. using a duffel bag and blankets to protect the dog, they maneuvered their way out, each carrying abby, who is 13. she was missing for two months and their owners are grateful. they say they live in the same town as those caves but have no idea how she got there. >> how you doing, david? >> reporter: tonight, one of the rescuers. >> it was obvious she wasn't going make it on her own. there's a lot of climbing and crawling. it was as fun as it looks. >> hi, david, this is abby. >> reporter: abby back with her owners. >> she's been through a lot. she's doing well, though. we'r >> building a better bay area, moving forward, finding solutions. this is abc 7 news. >> an 18-ye-o oakland residentndhree juveniles involved in these types ofwe see >> really sad. one young adult and three children arrested for a brutal attack on a 70-year-old woman in san francisco. good afternoon. dan: san fra

>> thanks so much, gerry.evin brady, the top republican on the house ways and means committee, which oversees the irs. talk to me about this new $80 billion of a jolt that the irs is about to get. why now? >> yeah, so as you know, democrats and president biden has been focused on increasing audits and irs surveillance of family owned farms, small businesses, workers themselves. as you know, they push hard for a new bank surveillance scheme that would have been a very dangerous invasion of privacy. most americans didn't get it. this is their fall back. $80 billion that they outlined last year in treasury's own documents that shows how they will increase that irs enforcement by nearly 87,000 irs agents. also, congressional budget office joint tax as your reporter mentioned debunks the claim that this won't land on middle class taxpayers. the key here is at least tens of billions of dollars more collected. here's what cbo's analysis shows. the budget shoppers, the families making less than $75,000 getting hammere

gerri willis has more. gerri. reporter: liz, rents are rising at their fastest pace in 30 years.ng price topping $2,000 a month for the first time ever and it is pushing consumer debt above levels last seen in 2019 before the covid pandemic. this could have a devastating ripple effect on the economy. the exploding costs of living is a big part of rising debt levels which totaled 16.15 trillion in the second quarter. according to the new york fed. the level is two trillion dollars higher than it was in 2019. it is hitting more than just big city renters in places like new york city and san francisco. the city with the biggest rent growth is actually cincinnati, ohio, according to redfin, where prices are up 39%. for renters the squeeze is tough with one in five telling freddie mac they are likely to miss a payment. with the majority of consumers take-home pay going towards necessities like food, shelter, and child care, spending habits are changing and it could be a warning sign for the economy. consumers are now foregoing invests in their future, like investing in stock or even o

gerry crawling and climbing his way back to the top to call for help.er rick haley answering the call. together, the two men and their teams began making the trek back into the cave to find the dog. using a duffel bag and blankets to protect the dog, they maneuvered their way out, each carrying abby, who is 13. it turns out abby had been missing for nearly two months, and cathy and jeff, her owners, are grateful. >> how you doing, david? >> reporter: tonight here, one of the rescuers. >> it was very obvious she wasn't going make it on her own. there's a lot of climbing, a lot of crawling. it was as fun as it looks. >> hi, david, this is abby. >> reporter: and abby back with her owners. >> she's been through a lot this past week. she's doing really well, though. we're really fortunate to have her back. >> reporter: grateful to be >> evacuations under way as flames threaten homes in the east bay. what we know about this danger. >> i'm meteorologist sandhya patel. i'll have the latest from the firelines. plus, a look at intense heat ahead coming up. >> the

gerri willis has more on the story. gerri.in the case of covid relief funds. we prosecuted a billion dollars of fraudulent claims but many of them will never be recouped of the look at these numbers, lost to fraud could be over $163 billion. but that is what happens when the government makes huge amount of taxpayer money available to the public with virtually zero oversight. the examples comical. loans went out to 342 people name was na, no answer. 57,000 people on government's own do not pay list got dough. dead people got money. one florida couple claimed their miami home was a farm that generated over $800,000 a year. one applicant got loans for 10 different fake bathroom renovations businesses using the address of a burrito shop. >> people made the conscious decision. we'll get money out, if there is fraud you will chase them later. that is not an acceptable model. reporter: the president extended the window to prosecute the crimes for 10 years. i have a feeling they will need every minute of it if they want to recoup even

and gerry baker on the president's positioning or shall we say repositioning right now. welcome, everybody. i'm neil cavuto. this is "your world." let's get to it. fighting crime is the theme for the president today. but is this the answer? maybe 100,000 more cops could be. let's go to ted williams on that. good to see you, ted. what do you make at what the president is proposing? >> good to see you also. >> martha: what do you think of what the president is talking about? 100,000 more police. we have to be serious about crime. it's a big worry. seems to be a pivot during the campaign. that was then. this is now. what do you think? >> well, you're right. he said other things during the campaign. now i believe that we may be on the right track, neil. i think 100,000 police officers over a five-year period is very much needed in these major metropolitan cities. the very problem though they have are the local politicians. as you know, neil, president biden has never called for defunding the police. however, local politicians have. in some cities like the district of columbi

gerri, thank you very much. not every democrat is on board with the idea that the inflation reduction act will in fact reduce inflation. listen to what senator bernie sanders thinks of the bill, roll tape. >> so-called by the way because according to the cbo and other economic organizations, who studied this bill, it will in fact have a minimal impact on inflation. david: university of maryland economist peter morici is here. peter, from conservatives to socialists they're saying in fact this bill got the wrong name on it because it is not going to reduce inflation. what do you think? >> the whole thing is a hoax. let's look at the automobile industry there is a shortage of electric vehicles. that is likely to continue to the end of the decade. if there is a shortage of something and you give people extra money to buy that product it simply will drive up the price. so for anyone who doesn't qualify for one of these subsidies, the price of electric vehicles will be even higher. the same thing goes for health insu

reporter: hi, gerri. be making a stop in taiwan during her current asian trip and china is not pleased. the house speaker was in singapore today meeting with the prime minister, other officials, business people, marines based at the u.s. embassy. next she's set to visit malaysia later in the week, south korea and japan. china is upset that pelosi could be stopping at the self-ruled island of taiwan which beijing claims as its own and it stepped up pretty aggressive military exercises lately. for example, over the weekend there were live fire drills along its coast in the direction of taiwan, only about 80 miles away and the officials have been speaking out, a government spokesperson saying today, if there is a pelosi visit, there be countermeasures and consequences, calling it a gross interference in china's internal affairs. washington is taking no chances. the uss ronald regan aircraft carrier and strike group is now reportedly cruising north of the philippines in range of taiwan in a short amount of ti

mid but broader coalitions since the american nation of you know, there comes a time for a majority. gerry, in government in a place like iraq, but he didn't have the votes. and that's what really counts. speaking of the u. s. invasion or how much of a role have a foreign interests as such as the united states or iran plate and influencing the current situation? it's hard to tell. iran certainly supports the sheer rivals mcgonagall center. i think they're unhappy with him. the americans, you know, they're perhaps content to see the caretaker of go government, the prime minister academy continue in power because he's friendly united states. they probably can't get better him out of either a different coalition new or new elections. so looking ahead, do you think that is what could end this crisis, fresh elections? it's entirely possible that they will go to new elections. that would be frustrating. i think for a lot of the rockies iraqis have wanted an effective government, that one and the government committed to clean government committed to providing services and they're not getting. all

her partnership with gerry, both public and private helped heal the nation and strengthen the familyunit in its many varied forms. her love of her children -- michael, jack, steven and susan -- was unbounded. and her grandchildren were a source of constant pleasure. when we got together later in life and talked about our hopes and dreams for our children and grandchildren and also our great grandchildren. to you here who mourn the loss of your mother, your grandmother and great grandmother today, jimmy and i extend our most sincere sympathies and want you to know of the deep love and respect we have for this extraordinary woman. it was my privilege to know her. >> rosalynn carter, you've had 33 years post presidency, the longest in history now, and you and president carter have been very active. what do you think your legacy, first of all, as first lady is, or what would you like it to be? >> well, i hope my legacy continues more than just first lady, because the carter center has been an integral part of our lives, -- is waging peace, fighting disease and building hope. i hope that

gerri, thank you very much, gerri willis.ater chain hint we have problems, we just might have to file for bankruptcy. all of this flies in the face of the talk that we've got packed theaters which in a lot of cases we do but apparently they're blockbuster dependent. maybe we're running out of blockbusters could be for a while i have no idea. i know susan li does. she is following all of this and latest headlines. reporter: all of expensive content going on streaming platforms, we'll talk about "house of dragon" quick, amc doing innovative. instead of giving out dividend to its stockholders they're issuing the special stock instead. it has a ticker symbol of ape, an owed to their rabid retail investor fan base. so this is pretty interesting, but that means more supply, more equity coming on to the markets and that of course depresses prices and that's why amc selling down 37% today. ape the special dividend stock is trading up. there is also i would say concern weighing on amc's stock that maybe with box office receipts down a

thank you, i think, gerri, thank you very much gerri willis following that. mad did i thurman with more on the housing thing, douglas elliman, very big in the real estate world. dottie, how would you describe what you're seeing? you look at this more closely than most. i see things slowing down but i don't see the crash, what about you? >> i don't see it. i see it very differently, first of all an average, normal supply of inventory is about 6 1/2 months of inventory. we have three at this current moment. we have a shortage of inventory. so number one, when you have more buyers than you have inventory, you know, you're not going to fall into a market where nobody buys properties. it also, you know, you're comparing it to two years that in my 30 something years of being in real estate i have never seen anything like the last two years. so, we are coming back to a more normal market and i think that buyers, this is good for the buyers. they will be able to make a few concessions but by no means is there a fire-sale. i do believe, i can't speak for the entire co

thank you very much, gerri willis.se if you're in a high crime area workers are less inclined to go back according to your bidding at the company. doesn't the ceo of goldman sachs know it in your neck of the woods, new york city. take a look at this. >> we have to have a safe environment for people. the city is certainly less safe, i would say grittier and a little dirt ier. neil: mitch roschelle joins us to talk about this. macro trends advdvisor, founding partner. mitch, he is not saying anything we don't already know, that crime is an issue and as we were saying very early on much more so than the buy risk, with easing in the city, the crime situation was not and that's a problem. now he is kind of eating his own words, but he all but threatened workers to get their fannies back 24/7 now realizing that is easier said than done. what do you make of all this? >> it is easier said than done. when i started working in the '70s in new york city, late '70s, that is, when i started working there were a ton of people on the

gerri willis has that story. gerri was there a leak? gerri: yeah, actually there was a leak.nd six oil & gas fields so a major disruption to oil production in this country, all centered around the gulf of mexico, and how did this start? well it was a leak of the louisiana booster platform, booster station, that is, and it's exactly what it sounds like it's a place where they took the oil under pressure so it will scoot along the pipelines. now i should tell you right away , shell is saying this is going to get fixed and soon possibly as early as today, but in the balance hangs american wallets because that will push prices higher, if it isn't fixed right away. now i want to dig into the details with this so let's put up that map so you can see exactly where this is happening. shell, yesterday, shutting down two pipelines, mars and amber jack and then three oil fields, mars, and olympus, so a big shutdown in production they are not the only company doing this. we also have chevron shutting down three oil fields as well, so big changes there. i'm told that this could be as much

gerry, good to see you. thanks very much.he white house be spending more and translate to mid-term wins for democrats? they hope the tide is turning for them. karl rove is going to show us numbers on this and congressman burgess owens joins us only on "the story." this would help you hear better? genius. now, this is eargo. made to be heard. not seen. at bath fitter, every quality bath starts with quality people. our consultants help you choose from hundreds of bath options so we fit your style. our installers complete your work in as little as a day so we fit your schedule. our manufacturing team custom crafts your bath so we fit your standards, and it's guaranteed for life. when you can trust the people who create your new bath, it just fits. bath fitter. visit bathfitter.com to book your free consultation. i'm a fancy exercise bike noobie. and i've gone from zero to obsessed in like... three days. instructor: come on milwaukee! i see you! after riding twelve miles to nowhere, i'm taking a detour. and if you don't have the

gerry back next >> "barron's roundtable" sponsored by global x etfs. carleton: welcome to "barron's roundtable" where we get behind the headlines and prepare you for the week ahead. i am carleton in. in for jack are. fed chief j powell warning economic pain, but the fed will do next with jpmorgan strategist david kelly. later drought conditions around the country causing business disruptions and lost profits. we will look at the problems and opportunities for investors. we begin as always with three things investors should be thinking about right now. market selloff. stocks got slammed after fed chief jerome powell took a stance on inflation and caught investors by surprise. rising mortgage rates are pulling the housing market and showing up in prices. home heating prices are surging again. what to expect this winter and energy stocks to consider. on "barron's roundtable," andrew bary, megan casella. megan:it's doing okay and there was a lot of chaos. what happened? andrew: jerome powell happened. the miami times, research notes this week, he was more

i think the projection is that gerry is going to win. these are small neighborhoods. the generational point is a good point because i think things are changing a little bit in the democratic party. i think the president is changing thing. the president's had a great run. chuck schumer's had a great run. nancy pelosi has had a great run, particularly in the last year. you can't really run on generational change as much when you see this stunning success that president biden, nancy pelosi, and chuck schumer are putting up on the board. and i also think the president is kind of showing democrats that the way to govern and lead is with common sense, kind of more moderate positions, a bipartisan approach. so i think you're seeing a bit of a change in the democratic primary voters than we saw in the last several election cycles where generational change was a huge push. and it's important, there's no question. >> so maybe it's more successful to have that platform if you don't have a string of victories in washington. you can say as a democrat, you're not getting enough don

gerry: hello." nancy pelosi defies china and pays a visit to taiwan. is this bold leadership and defensive freedom or reigns leadings kick that could rebound on the u.s.? job growth in july and democrats are set on hitting the economy on massive new tax in spending bill and arizona to michigan, republican voters endorsed-backed candidates and signal

gerri willis here with us right now. gerri, what is the latest? reporter: the latest, neil is this.it is coming back anytime soon. peloton shares plummeting. they were down as much as 20%, down now 17% after the company reported widened losses and slumping sales in the official. the company left 1.24 billion in a quarter, people. sales fell 30% from the year earlier. average monthly workouts for user that dropped 26% a key metrics. marked the pandemic high-flyer six consecutive quarters of reported losses. the company struggling to right its ship as demand for at-home fitness equipment wanes. ceo barry mccarthy trying to win back investors with cost cuts, strategic shifts. thus far that hasn't done anything in their favor. brick and mortgage at that gyms are back in a way. can company cutout look, citing push for more competitive products. earnings beat estimates by a penny while revenue in line with expectations. the company made the pricing movers after seeing customers more frugal and trading down from national brands. they're in a big nice with rivals on price. prices are higher

. ♪ james: hello, i'm james freeman in for gerry baker.acklash may cost half a trillion of your dollars and it's not even legal. the expected red wave in november is looking more like a ripple and maybe even with a shade of blue. plus, how to hol

. ♪ >> hello i am james freeman and for gerry baker this because the "wall street journal at large".tion act into law but how will it affect your wallet in your taxes. former vice president pence has a message for the gop over the fbi raid of mar-a-lago, and may not be what republicans want to hear. is

gerry: it may not be what republicans want to hear. this is biden's border crisi

neil: thank you for that, gerri. this is the kind of stuff the federal reserves follows and the betting seems to be when they gather next week, next month i should say, will hike rates by 3/4er of a point. mark sandi, mark let me ask but the data. whether it warrants the aggressive fed tightening we've already seen. what do you think? >> well, i think job growth is slowing but not as much as today's data would suggest. i suspect we get the data point from the bls, bureau of labor statistics on friday will show a job gain of 250-k, 350-k. obviously down from 500-k, average monthly job growth over the past 12 to 18 months but it is not slowing up, to be consistent with stable unemployment we need job growth no more than 100,000 per month. we still need to see significant slowing. from the fed perspective they want to see slowing now, not three months from now, not six months from now that would argue for more rate hikes, obviously the rate hike in september you mentioned but also in november and december. they got more

the right word disturbing is what it is especially because insecurity has gone on for so long in my gerry a why is that? i think there is no simple answer to that question, but there are several factors that definitely come to mind. the very fast being, the fact that you know, niger and security forces best buy the best efforts, have not been able to, to protect citizens and prevent, you know, the sort of attacks from happening at the core of that issue. have been questions around, you know, the capabilities of the danger and security forces, how well equipped they are. and despite huge budgetary allocations to 9 year insecurity for this year in year out, we still see cases of corruption standards iraq to the tune of billions of dollars of 9 millions of dollars that should be used to purchase, you know, weapons and other equipment for the security for us to be able to do their job. but apart from that, i think that they're still really cor grievances in many of these communities that gave the conflict the start in the 1st place. in the not west, we've seen many conflicts as a result of, y