>> what happened to i.r.a.. reinvent the cash in my account at another time. >> i prefer you to let it run unless the stock is sour because i just think i don't want, you have been investing in a long-term i.r.a. and i have to believe what you stop in the socket will continue. if you have to take a loss, take a loss, but keep investing in your i.r.a. nick in florida, nick. >> question, when you help your children invest, is it more important to save up and give them a big lump of money when they get married or set them up early, literally an infant, take the baby, a small amount in dividend stocks, which is more important, the size or the height of the bill that compounds at? >> i love that. i can't help my kids. they had to do that on their own. i am not allowed to know what they are up to, but what i say to my kids is i want you to make as much money as possible with half the money and the other half you to earn some stock. i think when they finally decide that they are going to do their life they can do it, b

let's break it down >>> the inflation reduction act known as the i.r.a. a half trillion dollars forward clean air. for electric vehicles, and companies that produce renewable energy and insulin price caps, prescription drug reforms and a 15% minimum corporate tax. the bill would more than pay for itself and in the year since it was signed, inflation has pretty much done what the president promised it would. >> this bill will in fact reduce inflationary pressure on the economy. >> reporter: we're pack close again to the 2% inflation target but economists have been skeptical to attributing anything into the act. president biden said i wish i hadn't called it the inflation reduction act because it has less to do with inflation reduction than providing alternatives for economic growth >> solar energy's cheaper! >> reporter: regardless, only one in four americans have a good idea of what's in the bill. when the same group of respondents was briefed on the contents of the bill support nearly doubled to 68%. the provisions are popular in the rare cases where ame

car bombing. died in the 1998 real i.r.a car bombing.ne people have been injured — two of them seriously — after a car veered off the road and crashed into a camp site in pembrokeshire, wales on saturday night. the campsite owner said a baby in the tent miraculously escaped serious injury, as it was protected by its cot. matthew murray reports from the scene. it was just after 10:30 last night that the car came off this road. its skid marks around about 50 to 60 metress away its skid marks around about 50 to 60 metres away to where it actually ended up, because it came off the road and then rolled around about three times before it ended up back on its wheels. but it did actually roll over this tent, which had a baby inside it who was in its cot. and that's the only reason the baby survived. now, let's speak to the owner of the campsite here now, mike harris from newgale campsite. mike, you know, you came here last night and it was absolute carnage when you arrived, wasn't it? absolutely, yeah. there was no emergency services at the time

there is a minimum discount written in the i.r.a.hat is something we will find out a year from now. for the company to talk about the value or is it cms writing a number on a piece of paper. one thing for these drugs coming up in the first list are toward the end of the life cycle. two years where you have a 35% haircut in the costs of the price. not something that is necessarily changing the narrative for bristol given the patent expiration. >> can they make up the money somewhere else? is the government the biggest customer and this takes a chunk off the top and bottom line? >> it depends on each situation. it is hard to make a blanket statement. it is going to have impact toward the tail end of the drugs life cycles. it will with force the industry to make cuts with expenses on the r&d side. there may be development moving to less exposed drugs to medicare and these nuances of how the drug is selected. >> let's talk more broadly. i was shocked by this number of the the -- number. the cbo has an eye popping number. is that the reve

that would not have been economically possible prior to the i.r.a.ere are other projects like hydrogen where they won't make those announcements in the u.s. until they have a full query on the tax credits they can receive. with the incentives in place for a decade and we're already one year in, we need clarity from the government on those final unclear areas. >> clarity from the government, not always easy to get thank you. pippen stevens on energy let's stick with energy as we head into the end of earnings season questions around demand on the residential side joining us with his outlook today is ceo john berger great to have you back thanks for the time. i wonder if you heard pippen talking about some of the potential policy tailwinds i wonder, do you think that's still in the can we're just getting started where are we on that >> thanks, carl, for having me we're just in the early innings but we're seeing a boom in residential energy it's really transformed at this point in time. part of what's happening here is the residential, particularly behin

he's going to be talking about the i.r.a. legislation. does he think it's getting enough discussion? you're watching "andrea mitchell reports" on msnbc. hell reports" on msnbc. we needed it fixed right. we went to safelite.com. there's no one else we'd trust. their experts replaced our windshield, and recalibrated our car's advanced safety system. they focus on our safety... so we can focus on this little guy. >> singers: ♪ safelite repair, safelite replace. ♪ struggling with the highs and lows of bipolar 1? ask about vraylar. because you are greater than your bipolar 1, and you can help take control of your symptoms - with vraylar. some medicines only treat the lows or highs. vraylar treats depressive, acute manic, and mixed episodes of bipolar 1 in adults. proven, full-spectrum relief for all bipolar 1 symptoms. and in vraylar clinical studies, most saw no substantial impact on weight. elderly dementia patients have increased risk of death or stroke. call your doctor about unusual changes in behavior or suicidal thoughts. antidepressant

they announced that they were able to -- people say the i.r.a. doesn't really help reduce inflation, but at the end of the day, the morning news this morning, we just learned that inflation continues to drop. i think the annual ice numbers is now down to 4%. and the left job creation number that was reported out of the department of labor a couple of weeks ago, jobs 23 40, 000, in the last month. and unemployment rate for the country is still going, down around three and a half percent, which is pretty darn good number. it's not perfect, there's still things we can do better, but the, i think, for the bad it's not that bad. thank you, senator capito, will now hear from our witness, jalen bhatt. shailen protests just name bhatt, but a lot of us pronounce it bhatt. and bhatt, insoles, the better to play. i will answer to either one, but he the administration of the federal highway administration. sort into his current role on january 13th, 2023. after -- was confirmed by the senate on december 8th of last year. as administrator, mr. bhatt overseas

to pay for it the i.r.a. also included increased irs enforcement.n fact reduce inflationary pressure on the economy. >> reporter: we're back close to the 2% inflation target. attributing to any drop of our inflation rate to our inflation reduction act. at a recent fund-raiser he said quote i wish i hadn't called it the inflation reduction act because it has less to do with reducing inflation -- >> cheaper than fossil fuels. >> regardless 1 in 4 americans say today they have a good idea of what's in the bill. only 38% of america approves of it. when that same group of respondents were briefed on the con tents of the bill, support jumped to 60%. which may explain the president's recent interest in barnstorming the country. >> eager to talk all things i.r.a. >> let's talk about branding. honestly the name of it didn't work, biden doesn't like the name of it now, you mentioned that survey that found 68% of people approved of what was in it. what about lawmakers, the reaction across party lines? >> lawmakers had an idea, but branding, right, part of the

billion of clean tech and semi-conductor manufacturing has been announced since the passage of the i.r.aobs, according to the financial times it's not all that rosy there are worries about worker shortfalls, global competition and awareness. joinings now is a cnbc exclusive interview, national economic director bharat ramamurti. it's good to have you back on the show how do you impact this bill in terms of jobs and growth and investment >> white, quite similarly to that ft analysis that you just put up there, we're looking at something like 170,000 jobs created thanks to the investments spurred by the inflation reduction act. we've seen already since the passage of that bill just a year ago, over $100 billion worth of private industry commitments into clean energy production and so we have a pro-growth agenda, a pro-jobs agenda, and of course, very importantly, a reduction in greenhouse gas emissions. by one estimate a reduction of a billion tons of greenhouse gases by 2030. as the president likes to say when he thinks about addressing climate change, he thinks of jobs we have a win-win,

i own two stocks in my i.r.a. account that i would call safe stocks with pricing power, pay decent dividends they sell similar products similar p/e ratios however, one has better earnings higher margin and less debt but the other's about to split into two companies. i'm wondering what you think the companies are kellogg and general mills. >> i think that general mills is an amazing company and they've done a lot of stuff to be able to diversify away from pure food including buying blue buff which was a brilliant move and i say that as a dog owner. kellogg we've got to see how those different pieces work. let's give that one some time. and thank you for your cal poly work that was great doug >> caller: how are you doing >> i'm doing well. what's happening >> caller: not a lot love what you do >> thank you, doug >> caller: my question, jim, is about the sustainability and profitability of carvana, a stock moving forward last quarter they posted a 40% higher per car sold profit and still were in the red. >> well, i'v

alex wagner tonight also turns one today and as great as the i.r.a.now. i mean, i really appreciate the sentiment. >> i think you are better than the inflation reduction act. i do. >> that is saying a lot. that is like the biggest investment in climate change that the country has ever made and in cable news on at nine pm

think that the policies that the president has pushed, that i voted for when i was in congress, the i.r.a bill, ohio is front and center to benefit from that. we're going to have a chip manufacturer here, data centers, natural gas power plants, things are starting to move. it is going to take a while for that to really sink in for most people to where they can relax. and they will realize that they're going to have a bright future. >> i know you said you're not going to field a no labels type ticket, or third party ticket. i think you said you're not going to get involved in the presidential level. is there an electoral goal that you have? is it lower ticket races? where do you see this effort investing? >> we are going to support the pro democracy folks that are running. we will be very hostile and aggressive with our media to fight the anti-democratic forces in the country. there is no blossoming of the new ideas. if it is getting strangled by the anti-democratic forces that are out there, and clearly president trump, maga are the leaders of those anti-democratic forces. he is clearly n

we sold that mother cashed in her i.r.a. >> reporter: we tracked the fracking company that caused the contamination to a post office box, but they did not respond to repeated requests for comment. >> i wasted 40 years trying to get a well plugged. >> reporter: pennsylvania's problem is particularly acute because of the oil boom here in the 1800s. >> we've taken an aggressive posture. >> reporter: the state's new governor, josh shapiro, has made plugging the wells a priority often homeowners have been bearing the brunt of this. >> and that's terribly unfortunate, and i think that's the problem that we've seen over generations in this country where corporations were given a free pass, particularly when it came to corporate polluters. >> reporter: but it's slow going >> we've already capped 70. we'll have 100 done by labor day. >> reporter: though there are at least 350,000 wells in pennsylvania, some think more than twice that number to cap at a cost estimated to be over $17 billion >> yes, it will be costly, but it's also something that can help us combat climate change. >> reporter: a

as a radical climate agenda instead of implementing the i.r.a. that was passed into law. penn-wharton budget model says the cost of the act ballooned from $340 billion to $. 5 trillion over 10 years because of the implementation. republicans calling it a budget buster. >> that's not bringing town the cost of energy nor is it bringing down inflation which, as you can see, it might be off a little bit, but people are still paying more now and probably will continue to pay more for all their costs, goods,s services, everything they need including groceries. >> reporter: and the message from the white house is that the inflation reduction act is helping middle class americans. you know they'll vote next year about how they see bidenomics. elizabeth: edward lawrence, thank you so much. let's bring back from house appropriations congresswoman ashley hinson, economic expert jon lonski. thank you so much for helping us out tonight. you know, first to you, congresswoman. if the inflation reduction act is so great, why don't we see democrats barnstorming the nation about it? >> rig

from the local community. 29 people — including a woman pregnant with twins — died in the 1998 real i.r.aut the attack. the health secretary, steve barclay, says he wants to offer the help of hospitals in england — to reduce nhs waiting lists in scotland and wales. figures this week showed a record 7.5 million people waiting for treatment in england alone. the government claims the percentage waiting for more than 18 months is higher in the two devolved nations than in england. 0ur political correspondent, ione wells explains why the government is making this offer now. the prime minister said they should record into account if nh is waiting list are not followed by january 2025. so far, the figures are not going the right direction. we heard injune, waiting list for hospital treatments in england had a record high of more than seven and a half million people waiting for the first time. ministers in the uk government are aware that this could come back to bite them the king to argue that things would not be better under opposition parties, labour and scottish national party who are in gov

kiss act, we're telling our clinents to build dramatically to take advantage of the reshoring and the i.r.a so much money is coming at certain industries and parts of the economy, helping to keep the tcp up >> the other measure that's been made about rates, whether you think rates are going to continue to go up, whether they pop. it leads to jackson hole next week the market may be moving after today, looking at goldman sachs, with possible rate cuts in 2024. how do we look at the rate picture over the next few months >> sure. i think long rates have topped out here there's a couple of reasons. i don't think the fed will have enough evidence to hike the fed in september you have prints on xcpi. month over month that's up 2% the labor market continues to be a robust market. but the fed has done enough. the repricing you see is the market pushing outrate cuts, not necessarily going forward rate hikes. you can look at the one-year sofa rate. that's up more than the terminal rate this year that's just if the fed is going to stay higher for longer. the cpi print that we got last week, was an ups

estimates, particularly for 2025, have gone up 5% to 10% on the back of upgrades due to the chips act and i.r.ae to leave it there thank you for being here in the studio >>> thanks for watching "worldwide exchange. we have "squawk box" coming up next have a great day nice footwork. man, you're lucky, watching live sports never used to be this easy. now you can stream all your games like it's nothing. yes! that's what i'm talking about. [ cheers ] running up and down that field looks tough. it's a pitch. get way more into what you're into when you stream on the xfinity 10g network. >>> good morning stock futures pointing to a slightly higher open after last week's pullback. wit we get you ready for the numbers this week. >>> "barbie" reaching the $1 billion mark in 17 days. >>> and musk versus zuck musk is ready for the cage match, but zuckhe may require surgery. it is monday, august 7th, 2023 "squawk box" begins right now. >>> good morning welcome to "squawk box" here on cnbc i'm andrew ross sorkin with kelly evans and mike santoli we have a lot going on with the u.s. equities. the musk and zuc

>> they are getting immediate benefit from those i.r.a. provisions. that's happening right now.argins is the competitive dynamic. and the competition out of asia is getting very aggressive around pricing. the margins on the hardware with the cars are going to be challenged for a little bit as the industry goes through a cost reduction effort to break through and move into the mass market. that's not a short-term project. that's a multiyear project. we think the company has significant cost advantage versus their peers, particularly western oems and the challenges those western oems are working through right now. this is a multiyear process. as we look at this, waiting for the consumer to rebound, rates to stabilize and see the consistent sell-through and the ability to raise prices, raising margins for the company, which we think probably happens over the next 12 to 24 months but it's not the next three to six months. >> we'll see how long a shift in momentum can last. thank you, collin. appreciate it. >> thank you. >> speaking of asian ev makers, vietnamese ev maker vinfast wen

some of the biggest military contracts in that country, including feeding the trumps but he ran the i.r.a when i was so highly involved in the russian disinformation campaign. we're also joined by cedric layton, senior military analyst. what is the effect on russia's military without the wagner group specifically? ukraine? wagner forces were some of the most brutal but also some of the most effective there. >> yeah, that's exactly right, jim. one of the key things about this is this is going to have real impact if it is indeed prigozhin on this plane that crashed north of moscow. that's going to have a profound impact on russia's ability to fight the war in ukraine, remember the center of attention, almost the center of gravity of the russian war effort was for many months for about ten months centered on bakhmut and the first and the forces that were actually running that show for the russians, that was prigozhin. and he was responsible in his own brutal way for that one bright spot from their point of view in that war effort. well, what's happening now if he has indeed been killed in th

we are celebrating one year of the i.r.a.ll have tons of groundbreaking on new projects and new jobs being started because of his legislation. i think this is just early out polling that usually is a snapshot of how people feel that day. i wouldn't be worried about this come next november. >> john: depending on where the special counsel investigation goes, president biden may have a few issues of his own to deal with. i want to ask about vivek ramaswamy again, matt. he had a moment at the iowa state fair that went viral when a person who described themselves as pan sexual came up and asked him a question. rather than getting into an argument as we see so many times in the campaign trail the two of them had a reasoned discussion even shook hands at the end and parted ways quite amically. vivek was on our program yesterday. here is what he said. >> i believe we have perhaps our last best opportunity to reunite this nation. that's what i care about above all else. i will do it by reviving those ideals that set our country into m

now, i can hear you all you macro economics both out there yelling at your tv's, the i.r.a.prescription pricing as well. dropping inflation had more to do with the easing of supply chain issues with covid and the decline it oil prices, as marcus came back after the invasion of ukraine, and the rate hikes from the fed. yes, that's all true. the way politics works is the president gets all the blame when the economy is bad, you get to take the credit when the economy is improving. so, the democrats had this kind of the stroke of genius last summer when they were at loggerheads with west virginia democratic senator joe manchin, the deciding vote, who was wavering on voting for the act, because he's concerned about additional spending and what it would mean for inflation. so, they renamed their spending bill the inflation reduction act. at the time, that was seen as a kind of cheeky dig at republicans. but it worked. that decision has borne both substantive and political dividends. think about it this way. if it were a republican president who signed a bill called the inflation

how much is the i.r.a. responsible for that? >> there's too way of telling that story, stephanie.s you look at the graph of inflation that goes bump, bump, bump really high, and then suddenly ventilation production act passes, and suddenly, boom, it crashes back down to third of its previous level. that might be what you're hearing on the campaign trail. the truth though is president biden is right, it should never have been called the inflation reduction act. it's got a lot to do with our longer term fiscal sustainability, huge investment in the environment and the move to electrification of vehicles, for instance. in 1 million little ways it will affect your life and mine. but most experts agree that it's had very little effect on inflation so far, and will likely have very little effect on inflation over the next few years. >> to your point, what this is is the government making investments, which hopefully will help us economically prosper in the long term. are there places where the american people can see the fruits of this legislation helping their lives already, or is it t

they have more than 400 applicants and the i.r.a. going on some of those subsidies. >> it's interesting because, hey, what's the subject of j jackson hole next week? it's structural changes in the u.s. economy or something like that. you want to listen for whether powell is willing to say, maybe we have just structurally tighter labor markets and it's not a linear relationship with inflation. we've managed to see inflation go from 9 to 3% on the cpi with inflation staying at 3.5%. so, just throwing it out there. also, productivity effects. he has to acknowledge either suggest that productivity has some momentum to it or saying, don't expect productivity to bail us out. because real yields at 2% in the long end suggest that we should have some productivity growth to justify that. otherwise, it's very restrictive policy. >> yeah. well, the q2 data, as a reminder, was good, and i think renmac pointed out philly fed where you had shipments up 5, 7% but employment down 6%. maybe manufacturers are finding ways to do more with less. >> i so

you can't do that with an i.r.a., you can't do that with a 401k. even if you are healthy, for all your working years, you probably will exhaust your account paying those premiums during your senior years. and i'll never pay taxes on that money at all. so we allow seniors to get a tax deduction for deposits in their savings. account and they turn around and pay their premium with it. that is the equivalent of letting them deduct their part b premiums. we are already giving so much to seniors so they are not in the mood to give another tax deduction to this group of people. that's why seniors weren't allowed to do. this there's this account, it's not very expensive from a budgeting point of view. and it will allow a tax deduction for into posit. you have to put tax dollars in the account. it goes tax free, but in this, way we have an account that is not very expensive from a budgeting point of view, and it would allow third-party payers to put money in this account for the chronically ill. you might say to a diabetic, if you manage some of your care,

how much is the i.r.a. responsible for that?s at the graph of inflation that goes -- really high, then suddenly the inflation reduction act passes and it crashes back down to a third of his previous level. that might be when you are hearing on the campaign trail, the truth though, is that president biden is right. it should never have been called the inflation reduction act. it has a lot to do with longer term fiscal sustainability, huge investments in the environment, and the move to electrification of vehicles, for instance, and 1 million little ways will -- but most experts agree, it has had very little effect on inflation so far, and will likely have very little effect on inflation over the next few years. >> to your point, what this, is the government making investments which hopefully will help us economically prosper in the long term. are there places where the american people could see the fruits of this legislation helping their lives already? or is it too soon to tell? >> well it is both. look, my favorite week of the

act and we have the i.r.a., you can't convince someone how they're feeling, what they're feeling about the economy is wrong and that's what the election comes down to and i get they're trying to have a proactive message when people simply feel differently. >> i know the charges against hunter are very different from the charges against trump, and we shouldn't make them equivalent, but against republicans is a huge great talking point to muddy the waters around the legal troubles that former president trump is in, and the current position that president biden is taking on this, this public position is not sustainable. his son will probably be on trial. there's every possibility he'll be on trial during this campaign and we understand joe biden loves his son very much and he needs to say something that governor walls said if he violated the law he needs to be held accountable and that's what an american president should be saying. >> the biden staff can't even get to the president about the issue pause they don't

alex wagner tonight also turns one today and as great as the i.r.a. is, alex wagner tonight is even better. good evening, alex. >> i don't know. i mean, i really appreciate the sentiment. >> i think you are better than the inflation reduction act. i do. >> that is saying a lot. that is like the biggest investment in climate change that the country has ever made and in cable news on at nine pm through friday. i'll take it. >> let's be clear, i do not think that you are more important then the inflation reduction act, but i do -- i do think that you are better, and i am more excited about your anniversary. >> i thank you for that. you have not known the inflation reduction act for what is it -- my god, 25 years? and you have that. i will take it. i'm just thrilled to have this kind of with you every four days a week chris. it is the thing that brings me joy, my friend. >> happy anniversary. >> thanks, buddy. thanks for a great show, as always. nks, buddy >> thanks to you at home for joining me this hour once again. we now have a date, march 4th, 2024. t

position in blackstone, and every time i sell a little it just continues to go higher it is 23% of my i.r.a that is a little -- here's a real conflict i love it. i think jonathan gray does a good job but you've got to cut that position down. it is too big for you. and that ladies and gentlemen is the conclusion of the "lightning round" >> announcer: the "lightning round" is sponsored by td ameritrade coming up, shopify, adobe and etsy three tech stocks that have put small businesses first cramer's take on an a-plus ai application. next >>> we spend so much time showering praise on companies that come up with ways to use artificial intelligence to make other businesses more efficient. and we spend way too little time on their clients it's a shame because the story of those clients is often a heck of a lot more exciting than the story of the ai tools they've been given maybe we're missing the forest for the trees? what's the forest? quite simply it's the wonder of small business which is one of the major growth engines in this country. we just learned from the u.s. chamber of commerce its sma

charitable trust third the health care stocks have become disastrous a relatively unknown proechgs in the i.r.athat's something the drug companies hated it's put a hid lid on the group and the upcoming election makes the pharma industry a pinata meanwhile stocks are struggling to come back from their covid era there's also a snag with jet engines from rtx the company formerly known as raytheon that's kept it from going higher as for defense even with the war in ukraine industry is not getting the money it needs to expand fifth the consumer package goods company cpg they have gotten the bent of an improved supply chain but it appears that's one and done making it hard to support higher valuations for their stocks and by the way their dividends aren't big enough to support against how much bonds pay for you right now. so even the best ones are going down nobody cares they're making fortunes right now because it's perceived as a blip especially when you can get 5% on short-term money six oil and gas has a limit on it because president biden is the furthest thing from pro fossil fuel president i've

the i.r.a. is the largest planet bill in history.ur g. the problem is we started way too late. now we have to go very, very, very fast, in order to stop the world from melting. doing that is going to create all kinds of really tough trade-offs. including about what we do about citing solar rays on farm rant, and where we put windmills, how fast we build them, or where we run powerlines, and what we build and where. one of my personal moral intellectual -- bill mckibben, he's been writing about and organizing around climate justice for decades. he sat down with me on my podcast, why is this happening, where we talked about exactly these tensions. >> there are moments where i am tempted to say, oh, if only you had listened to me when. i wrote the first book about climate change back in 1989. a book called the end of nature. how do we started working in 1989, as every scientist said we should, we wouldn't be faced with quite this level of insane trade outs that we now have to make. but we didn't. we've poured more carbon into the atmosp

you are a year out from the i.r.a. being passed -- the inflation reduction act -- being passed. going really well. jobs are being created. they end up getting zero attention because their main candidate who is being updated all the time. and folks seem to like it. [laughter] -- like, this is not. by the way, the people in the republican party who apparently like all the -- stuff they would not hire someone who had 91 felony charges against him. they wouldn't give that person a job interview. and yet they're willing to put someone like that in the white house. it is bizarre. >> it is also completely sucking up all the oxygen's -- >> all -- >> -- maybe every single last bit of. it ron desantis is in iowa today where he has basically been station for the past several weeks. he was asked about these many indictments. he says he thinks the republican party needs to move on. >> if we are fighting about what happened in 2020 or january 6th 2021, if that is what the election ends up about, joe biden is going to be hanging out in his basement in delaware again, not to care in the world,

save, and sit down the foot dragging on what was built back better, and the new deal which became the i.r.a which eventually passed. they tell a beautiful story about what do we do when the world is ending. what do we do when we feel like the world we are in is going to end. and he looks at the holocaust, native american people, to see people who have been valiant and committed in the face of not the earth ending in some kind of planetary apocalypse, but the world ending in deep ways to find inspiration for going forward during what you can no matter what. you know, we have a lot of stories like that. jacqueline gill who is a oncologist a climate scientist in maine, tells an extraordinary story about going into an ice tunnel in siberia where she could see the world that ended 20,000 years ago, all the frozen stuff that was alive then that is not now. i think to think about that and what kind of hope we could find from it. adrian brown talks about pleasure and joy as part of activism. so there are so many stories in the book. >> the thing that i think is that we are human. we live as natural

in other words, your 401(k) or i.r.a. or brokerage account do not exist in a vacuum. if you're trying to save up for retirement, a stock like tesla might not be the most appropriate place to put your capital. on the other hand, if you've already got a decent size nest egg set aside for retirement and you just want some capital appreciation, then higher risk growth stocks all start to look a lot more attractive. in short, before you can start making judgments about individual stocks you need to figure out what your own internal yardstick's going to look like. that's the foundation of good investing. judgment. knowing what you need so you can find stocks that suit those needs. it's called suitability, and it's important. may be one of the most important parts of investing. let me put it another way in case it doesn't get through to you. let's say i want to fly across the pacific ocean. you do it in an airplane like a boeing 747. you don't try to fly across the pacific in a ford fiesta. now, if you want to pick up your kids from school, taxiing down main street in a 747

it is part of the i.r.a. we will lower drug prices. the election is coming up.hat all makes sense. you know, the devil is in the details if it actually ends up making things worse with getting access and innovation. can you go into that? >> yeah, certainly. i feel if drug pricing is curbed or curtailed to 20% or 30% or greater and we're undercutting the patent life of two years to five years, it depends on the specific drug we're talking about and that is detail oriented as you mentioned. it presents a lot of complexity for companies in order to salvaging the business from the investment perspective. what will they do with r&d and how do they develop drugs? if we pressure revenue and earnings, it is difficult to come up with better and new treatments. you create a dynamic to make it more difficult to get better medicines to patients. is it counter productive from that standpoint? it is an argument. that is what scott mentioned yesterday. that is what the companies are also saying as the lawsuits that bristol myers filed and merck filed. no doubt about it. >> if

go listen to the eton conference call, it is so clear that no orders have even come through yet for i.r.aoing to be caterpillar, get on board get big or go home >> you think it's just getting started. >> oh, yeah. there's been very few orders placed, according to eton. eton's quarter, oh, man, that was a critic it was belichick when we realized it was really brady and not belichick. i just wanted to take a cheap shot i just was in the mood >> does dupont take any of the shine off that this morning? >> no, i got to tell you, ed green is delivering exactly what you want you're troughing a lot of their electronics with pcs and semis, that's coming back i think this is a bullpen name you want to buy ed green right here, lot of firepower also, water is good there, believe it or not. i think it is the right time green is more energized than any time that i have heard him in this many years. dupont is an inexpensive good stock, it reminds me of 3m without the lawsuit. >> couple names we'll talk about later on this morning. one is match beat and raise btig goes to buy $60 >> tinder. >> the commen

infrastructure bill, the chips and science bell, and today we are celebrating the one year anniversary of the i.r.a the great society. and let's go over what they do. first, it is the most significant reduction in the amount of carbon going into the atmosphere. the most significant climate legislation we have ever had. a 40% reduction by 2030, but that is creating millions of new green jobs, whether it is opening an electric battery factory or as and wisconsin, making the turbines. and you know, when a parent knows their kid, they sent a daughter gets a job and one of these industries, they say, that is lasting a long time. that is on into the future. these are good paying jobs. they also reduce costs. for the first-time, we able to go after pharma. we had no help from the republicans. insulin is $35. starting in january, no one's going to pay more than $3,000 out of their pocket for prescription drugs. a year later, it will go down to 2000. that is a huge cost reduction, as is the cost of buying an appliance. remodeling your home in a green way. getting heat conductors. all of these things are goi

they want -- they want the unions -- they want -- unions want to get rid of the 401(k) and i.r.a. >>ep we're less than a month away from that contract expiration. >> that is the most important issue. a lot of people feel that biden's going to get directly involved what do they know? if there's anything we know about this administration, it's that we don't know what, biden's going to get involved and try to solve it i want to hear phil lebeau >> teamsters said, stay out. >> everyone thought when that u.p.s. deal was signed, it was going to be incredibly good news well, i got to tell you, if it's incredibly good news, then what the heck is u.p.s. doing at $172 >> let's get to rick santelli. busy morning for data. hey, rick. >> yes, carl, and it's not only out. it's out and up, up and away 1% is our read on july industrial production. that is the second best read of the year outside of january when it was only a whisker better at 1.05%. so, with rounding, basically we're right there, and on utilization rates, well, a bit of a different story yes, it's better than expected at 79.3, but i

rates, but there's not a real sharp pullback in demand and there's so much spending you mentioned the i.r.aned one yesterday the chips act. >> i had them on yesterday, up 4%, and they are deeply involved in the designing of chips and they say they haven't even seen the money yet from the chips act. >> it hasn't been disbursed. it's only just applications. >> by the way, caterpillar could tell you, look out, 2024 i think they'll be sold out, which is pretty amazing. look at eton if you want a great bellwether of what's going on with climate change and with the notion of wind by the way, ge has -- can you believe that dog of me renewables -- no, ugly duckaling is now a swan. >> are you saying, no recession, '23, no recession, '24 is that the call >> exactly what i'm saying >> coming in, everyone thought recession this year, okay, we push it out to '24 >> am i supposed to listen to everyone how about doing our own work >> you're against consensus here >> i am. i'm against consensus. i thought that tjx was going to be the best retailer this year and not just because shopping over here at this o

demand will stay strong because of, take your pick, the infrastructure spending, the chips act, the i.r.anue to go higher and inflation to stay stubborn, but long-term could be a positive. do you share that viewpoint? >> i think it's reasonable i mean, you think about the consumer has benefited from fiscal support that was a tailwind for spending, for sure you look at how tight the job market is right now. so wages are rising. people have jobs and that income also is supporting the fending that we see today. so that could put more pressure on the fed in. >> i'm going to let steve in, but i want to get to that fitch downgrade and what your thoughts are now. i mean, does the fed share any culpability for some of the problems that we have, that it enabled fiscal spending more than it should have for a couple of years who's at fault for what could be 180% of debt-to-gdp by 2050? >> well, we had a tremendous shock, joe, as you know, that caused both monetary policy and fiscal policy to come to the rescue and now, of course, we're looking over our shoulder, trying to figure out how we work our

helped the economy stay strong and some gdp prints do you think the chips act or infrastructure act or i.r.aas enough of it been implemented to see the effects of that yet? >> what you have here is industrial policy on steroids. the government regulators and academics and elitists who sit in the government seats pick winners and losers in the marketplace and spend massive amounts of money and we with w will have a $1 trillion deficit as you described you stated the government is pouring money into the groups of people and this administration sees as beneficial such as labor unions and green movement and students under the student loan proposal the practical effect of that is in the long term, it undermines the capital economy. the marketplace is a more efficient way of picking losers and winners and undermines the growth of the nation to have a government that is progressive >> bringing it back to the congresswoman in a second. you can spend money and have gdp go up, but if inflation, as a result of that, wages don't keep up with inflation. that is why bidenomics, until april or may, that pe