let's bring in capitalist pig hedge fund owner jonathan hoenig and price futures group phil flynn. jonathan, start with you. janet yellen is the former fold chair and is the treasury secretary. she has to give insight what the

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let's bring in capitalist pig hedge fund owner jonathan hoenig and price futures group phil flynn. jonathan, start with you. janet yellen is the former fold chair and is the treasury secretary. she has to give insight what the fed may do. jerome powell tipped his hand last week and markets no the happy with that. your ideas how the conversation will go. >> these are professional regulators. it is terrible in finances. you have to go back to dodd-frank from sarbanes-oxley, so-called landmark regulation efforts have done nothing. in fact they only papered over the problem again and again. they made markets more volatile. i am worried about the meeting between biden and regulators. robinhood and crypto phenomenon, there will be a crack down from both sides of the aisle. i don't think that will be good for the markets despite today's rally in the dow. jackie: phil, jonathan is talking about the regulators aspect looking at stock market, how normal people are trading and mechanisms there to protect them. the second aspect is the market overall. broadly looking at administration policies

let's bring back our market watchers, jonathan hoenig, francis newton stacy. jonathan, let's start with you. the job posting, it is kind of funny we're reading into that to see what the plans are of the justice department but it does say a lot. >> bitcoin, crypto, writ large, biggest use so far is nefarious activity, illegal activity. think about all the website hacks et cetera, were paid in cryptocurrency. look, what is going to doom cryptocurrency not a crack down by any particular government but the fact that supply is limited. not the supply of bitcoin, but supply of idiots who will actually buy this thing. bitcoin is a ponzi scheme. that is what it is. when the music is over, the plate stops spinning, turns out the lights. jackie: not everyone thinks that, francis. some think it's a great inflation hedge. there is a limited supply. that is precisely the purpose. they're not even afraid of regulation per se. they would say that regulation is even could make this stronger if it doesn't go too far? >> well there is some point to that. i'm not a bitcoin invest

george seay of annandale capital, jonathan hoenig. ly behavior apparently can get worse with alcohol. what do you think? >> amazing, neil. what is it about air travel really brings out the worst in people? some of these videos that have been circulating, it is animal listtic behavior. don't worry this doesn't apply to first class or business class don't worry you'll be okay up front. i like more fines for people that engage in this behavior and see deregulation. get more uber-style opportunities for air travel. more private planes, so those of us in the back of the plane don't have to put up with this and can actually have a drink. neil: you are no more in the back of the plane young man than i am in the luggage compartment. >> over head bins. neil: george. i wouldn't pit in the overhead bin myself. george, i can understand why airlines are doing this, to jonathan's point people are getting cookie. the woman didn't put the tray in the up right position, attendant told her, knocked a couple of her teeth. crazy behavior brought on that.

let's bring back jonathan hoenig and michelle schneider.ork should be for those who hustle at their work. i'm wondering, michelle, how do we get the hustle back? that we're paying people more to stay at home than we're used to, we have lost a little bit of the hustle in our work lives. how do we get it back? >> that is a very interesting question because some of this happened even long before the pandemic. the work at home phase, because of technology making it so easy to do so is not brand new. covid just gave it a real shot in the arm. here we are, people have gotten used to it. so it is going to be difficult i think to get people back to work. there will be a percentage of people who just refuse to do so. apple, for example, just went through their employees wanting them to come back to the office in september three days a week. they're giving them some gruff about it. it will be what can they do? obviously one thing will be people feeling totally like they are just bored at home. hopefully that happens, i need to be around people and i

we have annandale george seay and capitalist pig jonathan hoenig. some faceless bureaucracy somewhere in the world, does that appeal to you, my friend. >> no, david, that is terrible writ large. this economy under president biden and janet yellen seems to be going off the rail. david, they're encouraging inflation. they want to create the inflation. they warrant to destroy the dollar. only 40 gears ago president ford called inflation public enemy number one. this inflation is tax on most vulnerable and least wealthy under all of us. under president biden we're heading into the wrong direction. more taxing, more spending a weaker dollar. david: clearly what janet yellen is trying to do, george, with this minimum corporate rate of 15%, to cut off a exit route for corporations spooked by higher taxes here in the united states. we have a 28% tax on corporations about to come if it is approved by congress. so by lowering the minimum corporate tax rate worldwide, she is trying to prevent can companies from going to a place where it would be cheaper. will

. ♪ ♪ stuart: jonathan hoenig with us this friday morning. i bet he liked what i just had to say.his. absolutely not. what do you say? >> well, i mean, stuart, if we only get $1 trillion in spending instead of $6 trillion, i don't think the socialists actually lose. you know why? because the opposition has given them that basic, fundamental premise that government spending creates wealth. and that's what bernie and the socialists believe. the more the government spends, the wealthier and healthier the economy gets. in fact, just the opposite is true. the less wealth, the less jobs, the less productivity, the less quality of life. all that money that government invests -- aka washes down the toilet -- is either borrowed, taxed or printed, as you said. 20% of all the money in circulation now was printed in the last year leading to inflation if, and that's a tax on the poor more than anyone else. stuart: well, we've got inflation. it's happening. and we had this statement or just a comment from the fed governor james bullard this morning, i'm sure you've seen it, that we're going to

jonathan hoenig joins us this friday morning.n, stuart, the old saying goes, don't fight the tape. the tape has been off new highs today, new highs just a couple of days ago. the tape has been up almost unrelentingly as you said in the earlier hour for 12 years. this is a bull market that hasn't just emerged since the pandemic. this has been going on for quite some time. look, it's hard not to be a bull given that positive backdrop. but what i've noticed is what's happened over the last 12 years is it moved from fear to greed. a stat out this morning, 50% of people have invested their stimulus checks into the stock market that's quintupled from just a year ago. a lot of people buying dogecoin, bitcoin and that kind of greed, that kind of enthusiasm tends to coincide with tops in the markets, rather than bottoms. stuart: i hear you are shorting big tech. in other words, betting that big tech goes down. now, you're rubbing -- >> you're rubbing my face in it. look, it's been an expensive lesson. absolutely, but i just remember -- ye