tepper is with me. tesla, is it losing its cool factor?ll, look, i've been saying this for years now, the model s, the model x, they're flagship vehicles and need a facelift. they've looked exactly the same on ten years and on the model s, just changed the color of the door hand and will needs a facelift for sure. let's keep in perspective who is criticizing tesla. we're talking about college interns and we all know that college students in general skew heavily to the left. so elon musk was there and he was a god-like figure to all the kids five years ago and was on the verge of bankruptcy and they hate him and can't stand the guy and was pro free speech and baffles me and keeps in perspective when saying this. stuart: i agree with you that the tesla cars need a facelift. always the same. >> no other vehicle would get away with running with the exact same model design for ten years. stuart: thanks, mark. big financial story of the day, maybe the week and month and possibly the year. america downgraded and pitch drops rating from triple-a t

stay with me for the hour, tepper, i need your advice.n is looking at the movers and we'll start with apple. lauren: reports that the new iphone, the 15 will launch the 12th or 13th of september. lot of buzz about the charging speed. they would have a new charging sport so it would be super fast the current high end model, 14 pro max, takes like two hours to charge. stuart: really? lauren: yeah. stuart: good lord. speed thaw. come on, apple. lauren: who has time for that. stuart: is apple a stock to guy and hold for a generation? >> i like apple. if you go back to 2010s, the biggest movement in that point in time was mobility. being able to access the center on -- internet on your phone and work from your phone and they were the leader for that for that decade and the movement right now is ai and nvidia is the leader. apple, they claim they have some ai potential, but that remains to be seen. stuart: nvidia is the company. what's the correct pronunciation? >> i don't know, i go with nvidia. i don't know if that's right or not. stuart: doe

possible in part by: robert granieri, vanessa and henry cornell, the fairweather foundation, the tepper foundation, the asness family foundation, the mckenna family foundation, charles r. schwab, and by the rosalyn p. walter foundation, and damon button. - richard eyfus. - hi. - welcome to firing line. [dreyfuss laughing] - it's been years. i've wanted this for so long. [dreyfuss and hoover laughing] - you have portrayed notable american figures from vice president dick cheney to secretary of state alexander haig to ponzi scheme scam artist bernie madoff. and you have often said that you would like to play ulysses s. grant. as a student of american history, are there other uncommon americans you would like to portray? - aaron burr. - why? - because i don't think he ever did anything wrong. and i think he's- - go on. - no, he was a very remarkable man. and he said things that were adorable. like he once said to a bunch of lawyers, "never write anything down because someday someone may read it." and i think that's great. - but at the time that aaron burr shot alexander hamilton, he was wi

mark tepper with me.moment after kelly's report. $4.43 per gallon, that's very strong, and that's up 43 cents in a month. that hurts business badly. >> oh, without a doubt. and that's probably why if you look at the small business optimism number, we're at pandemic kind of lows right now. small businesses is are not very optimistic. when you look at diesel, it's in every aspect of the economy, right? stuart: yep. >> when gas prices go up, when diesel prices go up, that raises costs for businesses. they're going to pass some of that or all of that on to the consumer, and then it's going to hurt demand as well. so from all different angles, this is inflation, and it hurts consumers which, you know, obviously hurts businesses as well. stuart: it costs a lot more money to fill up my tractor -- >> without a doubt, yeah. which leads to higher grocery bills and, yeah. stuart: it'll wipe out the profit of some small businesses, the rise in diesel. mark, thank you very much, indeed. now listen to zillow. they say

possible in part by: robert granieri, vanessa and henry cornell, the fairweather foundation, the tepper foundation, the asness family foundation, the mckenna family foundation, charles r. schwab, and by the rosalind p. walter foundation, and damon button. - will hurd. welcome back to firing line. - it's always a pleasure to be on with you. thank you for having me. - why do you want to be the next president of the united states? - look, it's a great question. we have a number of what i consider to be generational defining challenges that we're not addressing. one of them is the new cold war that we're in with the chinese government. the chinese government is trying to surpass the united states of america as a global superpower. that's not my opinion. that is what the chinese government has said about themselves in english. and every american should care about that because it's gonna impact how far our dollar goes. it's gonna impact our retirement accounts. it's gonna impact our kids and grandkids ability to get good paying jobs. we also are having to deal with a complicated economy, pers

you're right, tepper. >> i said that. stuart: say it makes them too anxious.ennedy will be here and take that on after this. ♪ there are some things that go better... together. burger and fries... soup and salad. thank you! like your workplace benefits and retirement savings. with voya, considering all your financial choices together... can help you make smarter decisions. for a more confident financial future. hey, a tandem bicycle. you can't do that by yourself. voya. well planned. well invested. well protected. welcome to the place where people go to learn about their medicare options before they're on medicare. come on in. you're turning 65 soon? yep. and you're retiring at 67? that's the plan! well, you've come to the right place. now's the time to plan ahead. learn about an aarp medicare supplement insurance plan from unitedhealthcare... and how a plan like this helps you take charge of your health care with lower out-of-pocket costs. here's why... medicare alone doesn't pay for everything. your deductibles and copays could add up to hundreds, even thous

joining the conversation all morning long, mark tepper and michael ball bony. "mornings with maria" -- michael balboni. "mornings with maria" is live right now. ♪ maria: and it is time for the hot topic of the hour, house republicans are building their case for a potential impeachment inquiry into president joe biden. speaker kevin mccarthy said p president biden turned politics into a culture of corruption. the speaker of the house joined me yesterday on sunday morning futures and talked about the gop's top priorities when congress returns to washington september 10th. >> will you bring an impeachment inquiry against president biden this september? >> if you look at all the information we've been able to gather so far, it is a natural step forward that you would have to go to an impeachment you inquiry, just so your viewers understand what that means. that provides congress the apex of legal power to get all the information they need. remember what's laying out there right now. we have an attorney general that could have lied to the american public. maria: mic

possible in part by: robert granieri, vanessa and henry cornell, the fairweather foundation, the tepper foundation, the asness family foundation, the mckenna family foundation, charles r. schwab, and by the rosalind p. walter foundation and damon button. - vivek ramaswamy, welcome to "firing line." - thanks. i'm glad to be here. - why do you want to be the next president of the united states? - i am worried, margaret, that we are in the middle of this national identity crisis where my generation in particular, our generation, we're hungry for purpose and meaning and identity, and yet we hunger to be part of something bigger than ourselves, yet we can't even answer what it means to be an american. i think that loss of identity is responsible for a lot of our economic stagnation. it's part of what's actually even behind the loss of our fortitude on the global stage. and i think that i actually have a vision of what it means to be a citizen of this country, because i have lived the true american dream. and i am worried that will not exist for the next generation unless we do something abou

. >> mark tepper. >> haley, vivek ramaswami, and desantis, added trump as well.nd nikki haley gained the most at the expense of chris christie and tim scott. when you look at losers i would go with mike pence, chris christie and scott. and the reason i think trump is one of the big winners is i don't believe any of the candidates on stage yesterday have a meaningful break out. i think we need to see more of them. we had some winners and losers but nothing was enough for a standout moment. cheryl: i thought the interesting pivot last night on strategy was ron desantis. the criticism of ron desantis and that campaign from the twitter disaster of the rollout, something better handled from a technology standpoint, so focused on disney and woke, talk about what you have done in florida, your accomplishments, education, lower taxes, population growth, economic growth, you got rid of mask mandates, i saw him do that last night. i thought he decided to pivot back. >> because of that the debate coming up on this network, fox business, much like vivek ramaswami, they will

maria: part of the issue is expectations mark tepper look at amount federal reserve expecting growthark: i don't know the how they arrive at that seems incredibly high given the economy to follow-up about stein loans one thing from rags to riches in this country another to go from riches to rags, when you think about a family of four getting let's say 12,000 dollars stimi checks dropping in pandemic not getting those checks have to come back only make average student loan payment 383 dollars a month, that is where rubber hits road going to get ugly, beyond that, one of the things i am seeing right now that i think continues to kind of push the -- goalpost back when recession strikes is that tax refunds are up quite a bit this year but not to individuals. they are up to businesses. i think most of that has to do with employee retention tax credit dropping hundreds of thousands of dollars in small business's lapse to rep recovery, two, three maybe four months payroll able to continue that phenomena where they don't want to get rid of people they probably should get rid of because thing

mark tepper, you're with us all morning long. we're happy about that.ak and then a culture of corruption, house speaker kevin mccarthy says an impeachment inquiry is a natural step forward for the congress when it returns in september as new evidence reveals more government officials could have lied to the american public. what a shocker. michigan congresswoman lisa mcclain is here to explain. ♪ don't you forget about me. ♪ don't, don't, don't, don't, don't you forget about me. ♪ your record label is taking off. but so is your sound engineer. you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates matching your job description. visit indeed.com/hire so, you have diabetes, and your glucose is heading low. [ alert sound ] dexcom g7, the most accurate cgm, can alert you before you go too low. now, that's more peace of mind with dexcom g7. ♪ ♪ (aidyl) hi, i'm aidyl, and i lost 90 pounds on golo. i struggled with weight loss and weight gain my entire life. with all the yo-yo dieting i did in the past, i woul

mark keeper -- mark tepper, did that land or not?i'll tell you, that was one heck of a haymaker. if i were in vivek's shoes, i would be honored that everyone was gunning for him, because it started off with chris christie, then it went to mike pence all night long. even nikki haley threw a jab. so, i mean, if you're vivek and you're up on stage and everyone's gunning for you with, that's because you're probably the most feared person on the stage, and you might be the front-runner. i think from that standpoint, i mean, it actually, in my opinion, makes vivek look stronger. cheryl: todd, that was my question to doug collins last hour, is there some internal polling that we have not seen that those candidates on that stage have seen that shows that vivek ramaswamy is stronger than we are seeing in public right now, internal polling? >> i think that is a great guess on your part. there has to be. and if i'm vivek, i'm going into this night thinking, why are they attacking me in but then you can see, he starts to smile as he's attacked,

morning long, speech first executive director charise trump and strategic wealth partners ceo, mark tepper. "mornings with maria" is live right now. ♪ cheryl: a nice warm morning here in new york city. well, it is time for the hot topic of the hour, house oversight chair james comer blasting the hunter biden special council appointment writing in a statement, he says, quote, this move by attorney general car l garland is part oe justice department's efforts to attempt a biden family coverup in light of the committee's mounting evidence. maria asked texas senator ted cruz about this yesterday on sunday morning futures. maria: who has the upper hand from your standpoint in terms of the constitution, is it the special council, dave weiss who may be able to freeze all information flow to congress or is it congressional lawmakers and congressional investigators who have unearthed all of this evidence? >> it's both. the allegations are that hunter was selling official favors from daddy when he was vice president of the united states. this is often discussed as hunter's business dealings. this wa

cheryl: mark tepper on set has a question for you. i would love your read on inflation, just last week we saw cpi accelerate from 3.0, to 3.2, a little better than expected the cleveland fed expecting next month's data coming through that inflation is going to further accelerate up to 4.0. do you think we are winning the battle on inflation? or is there more trouble ahead? >> into i think we're going to see continued improvement the reason for that is pretty simple when you look where inflation has come emfrom goods inflation is still declining service inflation is where problem is service inflation almost intirl housing look at housing we know coming down, so i think a real tailwind to get inflation down. but the problem is going to be energy, that is really what is going to determine the headline number, underlying tripped pretty positive. cheryl: i would be surprised to see 4. cheryl: i think your point is well made about energy, oil prices now 82 dollars barrel and change today, looking at gasoline prices hitting reported for this

mark tepper joins us now. what do you think that will be? >> once my battery starts dying, i think what this speaks to with regards to apple is if you go back decade by decade there's an important lesson for investors to learn. when you go to the 90s, if you identify a major investment, that's 90% of the battle. back to the 90s, personal computers were the big thing, hewlett-packard, the 2000s the big theme was mobility, get rid of the landline telephone, pick up a cell phone, flip phone now. research in motion, the blackberry, 2010, smart phone, apple. right now we are talking a decade where a i will be more important. larry: who are the tenants? >> friendly gentleman's better, if you put money in nvidia versus apple i feel confident that come december 31, 2029, much greater. neil: what is happening in that? the most impressive stocks ever. but this year it is running double the loss we've seen on the nasdaq. what is that about? >> august has been a brutal month for apple compared to the nasdaq. neil: 9. 5% decline% decline for apple this m

cheryl: lee carter, todd pyro, mark tepper, that is it for me, stuart varney, take it away. stuart: good morning and good morning everyone. a very big news day, three huge stories, stunning nvidia, a spirited republican debate and russia, superpower in abject disarray. let's start with the money. nvidia leads the ai revolution in computing power, it away analysts expectations with another blockbuster profit report. more portly, it says good times will continue. just about everyone has raised the price target, premarket today, 500 one dollars a share, up $30. the dow industrials down slightly, s&p up slightly, look at the nasdaq. racing ahead to the tune of one hundred 40 points, close to one%, interest rates continue to soften, the 10 year treasury yields, got up a bit this morning, 422 but down from last week. the two year, that is below, it is now 5. 0 one% interest rates edging up. let's get to politics. "my take" from the leading candidate at the debate, desantis, strong and forceful, tim scott didn't get much time, strangely he missed the postdebate swing room. vivek ra

there's a group of bettors out of vegas looking at the odds and after the debate, the odds, mark tepper follows this closely he was saying that donald trump actually gained points after the debate that he was not at. >> donald trump find any publicity a great way, he come from real estate developers of the market and that's what he does best. cheryl: we are just getting started we're following the unprecedented story all morning long, harvard law professor alan dershowitz is here in the next hour with his thoughts on president trump's latest indictment but first zeroing in biden family corruption the house oversight committee identifying 16 times in joe biden lied about his connection to his family's business schemes, tennessee congressman and oversight committee member ways and coming up next, don't miss a moment of it you're watching morning said maria live on fox business. ♪ let innovation refunds help with your erc tax refund so you can improve your business however you see fit. rosie used part of her refund to build an outdoor patio. clink! dr. marshall used part of his refund to g

stocks eli lilly and mark tepper, do you like it do to get going higher. >> i think they need to haveo the obesity diabetes like ozone pick, we go be, for eli lilly it is montero from the healthcare cost, obesity cost us as a country $1.7 trillion a year. $1.7 trillion per year is 10% of the gdp. >> where did you get that. >> obesity and related conditions, heart attacks and stuff that go along with obe obesity. $1.7 trillion, this is serious stuff. this has the potential to be a game changer as a.i., the difference with a.i. it's good to take years to see results. it's probably going to be hugely impactful but it'll take us a while. with obesity drugs people are losing weight right now, they are getting healthier and that's important if you look at the diets recommended in the 80s and '90s it was low fat high carbs, not good. stuart: i hear you but i have my doubts that ozempic is bigger than a.i. but let's move on. i know it's a drugmaker, why did i not buy it when you told me to a couple of months ago. >> it was a great conversation. pair ago, consumers are at the point where the w

. >> he amazing mark tepper. mark: i want your take onus consumer on one hand there has been positive data, whether retail sales or tjmaxx walmart shows consumer is resilient look at flip side you see consumer surpassed a trillion dollars in credit card debt using buy now pay later loans to apply he groceries stein lon payments he online in october what is your take on state of the u.s. consumer right now. >> i think you are absolutely right in terms of recognizing that there's lots of consumers experiencing different he experiences with their financial conditions, some are doing extremely well some not so well, and just to make ends meet may be borrowing you put it all together in terms of macroeconomic situation consumer is continuing to lead this economy towards economic growth one of the reasons we haven't had an economy wide recession even when we had this recession, this rolling recession, in goods, they were the main reason for that is they pivoted to services. so we've seen a boom in the service economy.

also with me is mark tepper all morning long. mark let's watch the market on the heels of the interest rate hike by the boe, futures indicating a decline at the start of trading. look at the earnings, we have after the close the most highly valued company apple reporting earnings tonight, $3 trillion company. amazon is reporting quarterly earnings. i want to get your take on this. because apple gives us a window into the consumer, the u.s. economy, business, china, amazon gives us a window into the cloud. we're going to get a lot of info tonight. >> when you look at apple, analysts are expecting the third consecutive quarter of revenue declines. that's saying something about apple. you expect apple to grow every quarter. maria: i think 8.16 billion is the estimate on revenue. >> we just saw qualcomm's numbers. i think apple's like 50 or 60% of their business as far as the iphone chips go. so they came in really soft. i would expect that we see continued softening demand on iphone sales. the big question for apple is whether or no

advisers acting chairman, university chicago columnist thomas philipson tiana lowe doescher, mark tepperng the conversation your reaction to this number. >> i think energy is kind of delayed into august like i mentioned i think people worrying about that, i think, you know, u.s. is acting like a shadowed cartel member to opec be basically committed to with regulation, and legislation, to cutting supply, a perfect number but disincentive to cheat i worry about housing market 90% contribution here and going on in housing, that is the rate hikes are potentially raising housing prices we have seen case-shiller go up, owner occupied focused on that, because people don't want to sell their house when rate difference is so big from the good mortgage during covid to current mortgage rate we've seen supply, more than demand in housing up ticks in prices lagged into the next. >> good part rates coming down. >> yeah rents are -- >> a home prices have gone up the problem that is a great point, especially with, mortgage rates 7%, people. >> people don't want to supply supply down he more than demand

joining me is kings view asset management partner, mario veneroso, along with mark tepper here for the mario, great to see you. we want to take a look at markets ahead of the data coming out. dow industrials up you 113, on the final trading day for the month of august. hello, september. the nasdaq is negative but stocks rallied yesterday again on the key inflation -- ahead of the key inflation data today, the dow was up 37, nasdaq up 75 yesterday. we're waiting on the july pce number. economists are expecting core prices to be up two tenths of a percent month over month, up four and a quarter percent year over year. do you think this will be a market mover. >> absolutely. this has been a fundamental and a instrumental week. take a look at yesterday. market rallied as you mentioned. we had the job openings number came out. 9.5 million was expected. guess what? we missed, 8.8 million, missed by 8%. we had a little thing called consumer confidence. where is the consumer at in this economy today? they expected 116 and-a-half, we came in at 106, 1. guess what, strike two. we missed again. a

joining the conversation, strategic wealth partners ceo, mark tepper, former new york congressman, leeeldin and columnist tiana low disher. "mornings with maria" is -- tiana lowe disher. "mornings with maria" is live right now. ♪ maria: the house oversight committee releasing new biden family bank records showing that the bidens took in at least $20 million from countries such as as russia, kazhakstan and ukraine. the gop's memo showing a day after a kazhakstany businessman sent hunter biden more than $142,000 hunter bought a porsche for that exact same price. the records tracking a russian oligarch's $3.5 million payment to a hunter biden, devon archer shell company, then vice president joe biden had dinner with kazhakstany businessman and russian oligarch in 2014 and 2015. joining us now, congressman dan meuser. thank you for joining us. i want to talk about financing. when you get back from recess you're going to have to deal with the government running out of money but first let's talk about these new findings from the house oversight committee. how do you see all this? >> it's pre

asian market, joining the conversation all morning long today is strategic wealth partner, ceo mark tepperox & friends" first cohost todd piro and gop strategist and expert krista lunger, "mornings with maria" is live right now. period eight republican was under presidential candidates battle it out for the race for the gop nomination taking aim at president biden and each other in a heated first debate in milwaukee, wisconsin last night fox business grady trimble joins us live with all of the latest, good morning did you get any sleep? >> good morning i got three and half hours of sleep. on the debate there were definitely fiery moments which will get to ingest a second, there was also substantive discussions on the issues impacting the american people like the academy, border security, crime and china. >> this is not that complicated unlock american energy, drill frak, and embrace nuclear. >> the cartel is controlling a part of your southern border, we have to reestablish the rule of law and we have to defend their people. >> was part to blame as the democrats defunded the police for the

maria: here is mark tepper. >> good morning. if we go back to 2011 when it downgraded u.s.se of the next two weeks. i don't know if this'll be near as bad but if the market does continue to selloff. it was down 1.4% yesterday what is the winning strategy would you get more defensive right now or would you use this to buy the dips in the high-growth stocks? >> good morning, good question if you are a short-term trader basically you let the market take you where it wants to go in traditionally in a digestion of gains you gravitate toward the defensive areas, consumer staples, healthcare, utilities. i would be advising clients because were longer-term focus to take advantage of the declines because the 50 day moving average is less than 3% are where we are today and you have other retracement levels that would imply a 5% were in 8% decline on s&p 500. things would have to be bad to see 50% retracement since october 12 low. i would say going forward, stick with those sectors that are the growth oriented areas. add to that industrials may be financials are among the strongest pe

maria: we had pretty good data, mark tepper jumping the data has lifted yields, we will see how thisat these levels it's disruptive for the stock market. >> a lot of the economic data has been surprising to the upside which is why there are whispers that maybe the fed has a few more hikes to go potentially. but peter, when we look at projections for 2024 as far as the stock market goes in the economy goes. i'm seem to conflict in positions on what next year is going to look like. on one side you have wall street analysts which believe that we get is the 11% earnings growth in 2024 which would imply that we avoid a recession. however, if you look at the fed fund future in their pricing and for rate cuts in 2024 which would imply a recession. somebody is wrong, who do you think is right? >> i think neither is right frankly. i don't think there's going to be any cuts. i don't know why people are immediately jumping to the conclusion if we don't do anything that we have to reverse our steps and start cutting rates. i do think the economy is still strong, the consumer has stayed very robu

mark tepper here. no longer aaa what do you think?dy it is next to follow in line. we're in a world of hurt right now. we're talking about $32 trillion in debt, we're still running a deficit of 1.5 trillion per year. we have not run a budget surplus since 2001. we're now in a situation where this time actually is a little bit different. 50% of that $32 trillion needs to be refinanced in the next 2 1/2 years at much higher interest rates. so whenever interest expenses as a percentage of tax revenues crosses above 14%, we're knocking on the door of 14%. when it goes above the market forces austerity, that's what's happening. >> neil: fitch called us out for more. reminded me of a parent that says i can't believe you kids. you can't get your act together and resolve these crisises. you're always on the verge of shutting down and you spend, spend. they said the hell with it. we're still a haven for the world. money that comes in. we were and have been since s&p did it a dozen years ago. will that change? >> i don't think that will change

. >> here is mark tepper. >> wolfgang, good morning i want to get your take on the consumer on one hand very strong up 1% month over month ex-autos. on the other hand we know we surpassed $1 trillion of credit card debt, delinquencies are starting to rise, charge-offs are starting to rise, how much longer can the consumer keep this market moving in the right direction. >> it seems like the resilient about it. i think people are starting to get used to the interest-rate level and unfortunately there willing to go into more debt and at sometime we have to pay the piper and i think right or wrong, the bidenomics part of keep putting money into the economy is at some point not going to be a favorable part but right now consumers are spending and continuing to fuel the economy. maria: nvidia had another record close for the second day in the row, the stock is up to a 37% year to date. oil tech up here today, big tech doing quite well. how do you feel about the space and would you put new money to work here? >> absolutely i would weather nvidia, crown strike, some of these companies, the mark

and with us all morning long this morning, mark tepper. mario, good to see you.ation data, consumer price index for the month of july is coming out in about an how hour and-a-hal. we're expecting a gain of two tenths of a percent month over month. oil prices have been an issue the last month and quarter. how does that factor into things? >> absolutely. oil's been a sticky spot when it comes to inflation, right. so if you look at oil, we're at near $85 a barrel. we crossed our 200 day moving average on oil and if you look at core pce and regular cpi, oil is at $85 a barrel. it's hurting consumers right now. on top of that, our inflation from last month is actually expected to go higher. cpi at 8:30 today is supposed to be at 3.2%, last month was at 3. maria: oil will be an issue moving the number higher. >> absolutely. it's not just oil. it's oil, it's healthcare, it's service. so at the end of the day, if this number today at 8:30 a.m. is higher than 3.2, let's say it's at 3, 3, 3, 4, 3, 5 a, jerome powell will be backed up into a corner and he'll have to raise a

joining me is managing director of private wealth advisories, kathy enwhistle, walter todd and mark tepper. walter, let me get your reaction to the walmart quarter. >> we heard yesterday that traffic at target was down 5%. looks like all that walked across the street and went to walmart. so very strong quarter with the comp store sales above expectations. i think they're benefiting from the tradedown. we heard discretionary items at target were down, walmart benefits from having less discretionary, more essential items. i think they're hitting on all shslenders. maria: comp store sales up 6 and-a-half percent for the quarter. shares of target closed higher than expected. we had a better than expected quarter. they missed on sales and they lowered the profit goals for the year following the backlash they had for the pride collection. >> june was a bad, bad month for them after the pride backlash. that was challenging for target. maria: the stock is up almost 3% right now you. >> i would assume that's probably a relief rally, probably a lot of shorts involved in target that had to cover some

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mark tepper is here with us. we look good economic news.means interest rates go up in an environment like that. maybe keep going up. what do you think? >> yeah, housing afford ability is at a 40-year low. you have elevated home values, you have mortgage rates that are in excess of 7%. probably heading towards 8%. so that just makes housing super unaffordable. we heard i think last week that consumers now have over $1 trillion of credit card debt. for anyone that has applied for a mortgage for anyone that has checked their credit score, we know as you accumulate credit card debt and get closer to the limit and/or even max that credit card out, your score goes down. you might go from a 750 to a 650, which makes mortgage rates go up more. so the american dream of homeownership is slipping through people's fingers right now. >> neil: another concern for the markets today and as you reminded me, and that can change given the day, some of the air has been taken out of the market. it's a problematic month. the second time this month for stocks in