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tv   Mornings With Maria Bartiromo  FOX Business  December 8, 2020 6:00am-9:00am EST

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was prevented. how they could not have actually tested these machines and saw this happening is just stunning. lou: jason chaffetz, were at the end of the show, we thank you for being with us, thank you so maria: good tuesday morning, welcome, down to the wire, today is safe harbor deadlines for state to finalize election results. the arizona supreme court ready to hear a challenge to mail-in ballots as senator ted cruz says he's ready to argue the case and join the legal fight in pennsylvania. trump campaign attorney general jenna ellis with the very latest coming up on the trump administration's challenges. the china threat front and center. new reports show just how much influence china is trying to wheel over lawmakers here at home as we now learn goldman
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sachs is now laying down new investments in the country and own security business 100%. carl bass is here to discus that and a lot more. the dow futures down and s&p slower by 14 and a half after mixed finish yesterday. gain of 55 points but the dow industrials down 148 at 4:00 o'clock on wall street. the stimulus showdown continues. lawmakers set to extend government funding for one week as a rise in covid cases makes the need for relief greater. this morning from steve scalise.
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alexandria ocasio-cortez this year americans had one cheesy graving this morning. mornings with maria live right now. ♪ ♪ maria: european markets this morning are lower, the uk beginning rollout of pfizer vaccine, first shots given today. the dax index lower by 28, overnight in asia red across the board. take a look at the markets, worst performer does -- was korea. today marks the safe harbor dead, deadline for all states to finalize election results. republican lawmakers in pennsylvania making a final push to the supreme court to void
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their state's vote count as texas senator ted cruz suggests he is ready to argue the case and could join the state's legal team watch. >> i'm hopeful the supreme court will step forward to its responsibility and resolve this case and resolve other cases as needed according to law and according to the constitution to say this is a country that we respect the rule of law and we follow the constitution. maria: this as u.s. judges in michigan reject lawsuits. if confirmed austin first african-american to lead the defense department this as biden's pick for national adviser jake sullivan tells the wall street journal he sees the u.s. rejoining the iran nuclear
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deal. president trump pulled out of the deal in 2018. 90-year-old british woman first person outside of clinical trials be vaccinated for covid-19, maggie received vaccine this morning as uk becomes first country in the western world to begin vaccinations, keenan felt privileged to be recipient of vaccine and looks forward seeing grandkids in person. markets are lower. take a look at where we stand. invest it's closely watching the surge in covid cases amid lockdown measures. the dow finishing lower after last week's record close, take a look at dow industrials, down 148, global adviser's president dominic tavela. fox business dagen mcdowell and senior writer at wall street journal jon hilsenrath, great to see everybody this morning. dominic, kick your thoughts on
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news around covid and first vaccine in the uk, the number of covid cases rises, lockdowns, people in california seeing the new lockdown set into place yesterday and yet markets feel like the vaccine is on the horizon, what's driving markets, dominic? dominick: this is the tug of war with reality. we have 2,000 deaths a day going on, projected to 3 and possibly 4,000 in january. lockdowns, draconian lockdowns in some cases that's going to shutter our economy again and the possibility that as this vaccine enters our -- our social system and people get vaccinated, the economy can open again. so headline risk is probably the biggest thing going forward. maria: dow industrials lower but
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the nasdaq up, do you want to buy growth here? >> you have to be careful, maria. investors are looking backwards, what's worked in the last 12 months and clearly technology and health care were two, one and two leaders of the sectors of the economy and the markets had done really well, but going forward as this economy start to open up, other sectors are going to open up. we saw in the last 12, 15, 30 days or so a rotation away from tech to the closed economy stocks including oil, who would have thought oil and all companies would have done better. this is going to be volatile and short-term, way ups and downs headline risk. you need to start updating portfolios. yesterday's winners aren't going to necessary by be tomorrow's winners. maria: let's talk coronavirus stimulus, how important is
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detail, surrounding liability protection for business, also working, other work during 2019 pandemic, this as the potential government shutdown at the end of the week is looming dominick, how important it would be a stimulus package, do you think we would see a reaction? dominick: look at the human part of this, 6 and 10 million people, 4 million that have dropped off the unemployment rolls that are no longer getting any kind of income at all, small businesses are holding on by their fingernails and yet congress is still fighting over this. human beings need to pay rents, put food on the table and congress has to step up to the plate. so the markets would react positively to that but the human toll is way more important, they have to step up to the plate and put politics aside, get us through to 30 to 60 days, save people, put food on the table. this is way more important than
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politics. maria: jon hilsenrath, what about that, does it seem likely to you that they attached any coronavirus stimulus package, $900 billion to omnibus bill to keep open? jon: one thing that i find interesting about what is going on back here on capitol hill is that we are starting to see republicans and democrats behind the scenes particularly centrists working together to hammer out a deal and, you know, i don't know if this is a one-time thing or a possible sign of how the next congress might behave but that'll be an interesting development. you know, i wanted to point out one other thing and hear what dominic has to say about it on the investment front and that it's striking to me while u.s. stocks are rising, the dollar is falling, the dollar is down 4% this year. you were talking about rotating into other sectors, i wonder why
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the dollar is falling and whether what we are seeing rotation into international stocks and international growth. dominick: to your point you look at multiple, you're looking at 24 times multiple on s&p 500 versus 18% on european stocks. so from a valuation perspective european stocks are a lot less expensive than u.s. stocks, lower interest rates here in the u.s., make u.s. securities less attractive than they were in the past. we expect the dollar to continue to weaken, that would be terrific for you as exporters but rotating to your portfolio to start introducing international securities particularly emerging markets i think it's smart. you can't always buy at the bottom and get at the top, you start incrementally adding to the sector.
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maria: thanks so much. come diagram thank you, maria. maria: have a great day. your morning mover, tesla, check out the car maker up in the premarket following strong sales in china. stock down 2 and 3 quarters percent, 21,604, china made model 4 cars, yesterday's tesla market value reached $608 billion for the first time. it enters the s&p 500 on december 211th, as -- 211th, as you can see it has again straight up. fight for free and fair election, trump attorney jenna ellis with update on lawsuit. joe biden laying out administration, retired four-star general jack keane is here on new pick for defense secretary as well as the notion of getting back in the iran deal. next hour we are looking at how to allocate capital as investors get ready for the end of the
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year with word of job street plus jobs in america with labor secretary eugene scalia, and then where are the jobs? don't miss a moment of it. you're watching mornings with maria live on fox business. ♪ ♪
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maria: welcome back, now the trump campaign's pushback on the election results, texas senator ted cruz is offering to argue in front of the supreme court on behalf of congressman mike kelly's case.
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justice alito set a deadline of 9:00 a.m. today for state election officials to response to the suit ahead of electoral challenges. joining me right now attorney for president trump, jenna ellis, thank you very much for joining us. what's the status of your challenges, first let's start with pennsylvania and this news that ted cruz is willing to argue the case, have you responded to him? >> yeah, this is mike kelly's case, team trump, of course, applaud the election integrity efforts and i think personal that ted cruz is a phenomenal lawyer and the fact that he stepped in here really shows there are more people across the country and lawmakers in particular that really care about election integrity besides just the trump campaign. so i think it's really significant for people to understand that not all of the lawsuits are trump campaigns but there are so many people and organizations out there that recognize that election integrity matters and the challenges really need to
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prevail. maria: yeah, it's a great point. let's talk about the challenging from the trump campaign, where are you in the suits? tell me where you see the most promise. >> yes, so we have lawsuits now that are challenging, really, the results in 5 states and so our challenges initially thought to delay the certification of the results and even though those challenges were not successful. we have pending litigation that's going on in 5 states that is challenging the election results to say that the election officials did not act according to state law and so because this dealt with so many ballots and would be outcome determmanitive and all ballots against constitution should not be
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counted and we have the parallel track, of course, going to legislatures of four states that we presented to over the last couple of weeks to ask them to reclaim delegates under article 2 because they have the power regardless of what the judicial branch does to actually point their electors in the manner that they prefer and not allow corruption to reign. maria: what do you see as today's date in terms of safe harbor date, how does that complicate your challenges? >> not at all, in fact. even justice ginsburg in the election contest in bush v gore recognized that the date that what she called ultimate significance is january 6th, that's the date that congress actually counts the votes of the delegates, although we have the safe harbor deadline today and we have the meeting of the electoral college next week on december 14th, the ultimate date of significance is january 6th and so i do think that claims as
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well as others like mike kelly and other entities and organizations that we have discussed, those claims can still be litigated and continued and while we are on tight constitutional deadlines, we still have meant write of time to make sure the election is fair and free for all americans. maria: calls to inspect irregularities with mail-in ballot signatures and duplicate ballots, where does that stand? >> yeah, well, i think this is again another instance wherewithal of the evidence that is coming forward and even more through the investigations and have taken a little bit of time. i think the courts are starting to recognize that this is a significant issue that has to be addressed and the certifications were don't not only improperly but really without any clear and convincing evidence that they were done in the manner according to law in the state. so i'm hopeful that her challenge as well as mike
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kelly's as well as trump campaigns and others will be successful because free and fair elections are important to the integrity of our nation and, of course, in selecting our commander in chief. maria: of course, what can you tell us about the inspection of voting machines, jenna in an independent group was given access conducting forensic analysis after machine software led to inaccurate vote counts, has the group reported any irregularities, what can you tell us about the inspection of the machines, jenna? >> yes, that was encouraging to see that a judge in interim county, the county that shifted with the so-called glitch, and so an independent group, this isn't trump campaign. we are not paying for forensic audit, it's not our assessment. we are encouraged that an independent team went in and captured the image, forensic
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analysis and they should have the results within 24 hours, we are excited to see what that yields because there's so many questions around dominion that the american people deserve answers to. maria: jenna, how are you doing, your colleague giuliani diagnosed with covid-19 sunday night, can you update us on what rudy is doing, is he still in the hospital and how are you proceeding on this in his absence? >> thank you, yeah, he's doing really well and called me multiple times yesterday, he's such a strong warrior and rest of the team abiding by the cdc guidelines and making sure that we quarter teen and we follow everything that our doctors, of course, are recommending and so we are still going to continue to fight and we can do that remotely thankfully and we will make sure that the president has the best representation possible and we also have very able local counsel on the ground in all of these states that are continuing this fight as well.
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maria: all right, jenna, you're a warrior, we will see you in the 8:00 a.m. hour to talk more about this. thank you so much, jenna, we will see you in the 8:00 a.m. hour as jenna returns. we will be right back. ♪ every year, we set out to do one thing:
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help the world believe in holiday magic. and this year was harder than ever. and yet, somehow, you all found a way to pull it off. it's not about the toys or the ornaments but about coming together. santa, santa, you're on mute! just wanted to say thanks. thanks for believing. wannit's timeight and for aerotrainer. a more effective total body fitness solution. (announcer) aerotrainer's ergodynamic design
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and four patented air chambers create maximum muscle activation for better results in less time. it allows for over 20 exercises. do the aerotrainer super crunch, push ups, aero squat. it inflates in 30 seconds. aerotrainer is tested to support over 500 pounds. lose weight, look great, and be healthy. go to aerotrainer.com. that's a-e-r-o trainer.com. maria: global bank deal. this makes goldman the first global bank to do so. in march china security's regulator approved goldman's bid to take full control of security's company which it plans to rename goldman sachs chinese security company. jon hilsenrath, it's interesting to see what's going on in china and the united states whereas the u.s. keeps pushing back on bad behavior but the financial
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service's sector wants a foothold and a bigger foothold, they were granted that with the deal that was agreed upon that china would finally open up but so far just financial service's companies that can expand in china. your reaction. >> right, you called this interesting story. i totally agree. i think there's a good news, bad news situation here. the good news is that wall street has been trying for years, the financial service's sector has been trying for years to get a foothold into china and looks like china is finally starting to open up. i know the treasury department in steven mnuchin were pushing hard for this. i think a lot of american viewers are going to be watching this program and saying, how is it that china opens up and wall street gets a piece of the action and the rest of us don't, and, you know, i think china has a long way to go to -- to kind of prove to the united states that it's opening to all of us and not just the big financial houses. maria: yeah, one of the things
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here that happened, dagen, was that the big financial service's executives acted as lobbyists. they had meetings with the leadership of china and were convinced that it would be a good thing to have more business in china and they were promised that they would get access if they helped the chinese leadership do a deal with the u.s. and that's exactly what happened, now we've got the new report, dagen, by axios which documents how a chinese spy was able to infiltrate politics, the spy in question targeted up and coming politicians including congressman eric in what u.s. officials are calling intelligence operation, although sheer scare of operations is worrying and officials say they don't believe the spy was able to receive or pass along sensitive information. this is not the first time. we learned a year ago that dianne feinstein had a driver for years and he ended up being
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chinese spy. the chinese leadership has been able to get inside institutions whether it's harvard and the chemistry professor that was indicted or the houston embassy, they get inside u.s. institutions as a way of stealing information and controlling the situation. dagen: and this story raises the question and it should for everyone, every american, everybody who is working in government of how many of these operatives are out there spying on politicians, spying on american companies, stealing trade secrets, lifting i was out of american universities. these are just some of the astonishing details in this report. this was a woman, a chinese national named fangfang or kristin fang and went after not only politicians in bay area but across the country through campaign fundraising, extensive
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networking, personal charisma or romantic or sexual relationship with two mid western mayors, this woman was able to gain proximity to political power and this is according to current and former u.s. intelligence officials. one former elected official in the report, eric swawell's office, she tried to participate in fundraising on behalf of the congressman and the office was given briefing of activities and he cut offs with fang fang or kristin fang. what are we doing about this in a international's perspective, it's astonishing. maria: how many years did eric swaw everyone ll tell us that president trump colluded with russia and here we have eric swawell in bed with the communist chinese party. it's outrageous, i write about
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this in my book, trump, china, american revival, throats posed by china, we have two chapters of china in the cost. joe biden lays out more cabinet picks, we are discussing pick of defense secretary. we will talk to jack keane about that. how a judge's order could affect the popular app. we will be right back. stay with us. unlike ordinary memory want supplements-ter?
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maria: welcome back, good tuesday morning, everybody, thanks so much for joining us. i'm maria bartiromo, and it is tuesday december 8th, let's take a look at markets this morning, 6:32 a.m. on the east coast. futures indicating a decline at start of trading, dow industrials down 127 points and nasdaq down 45 and s&p 500 weaker. nasdaq with third straight record close of 55 points but the others were weaker, dow
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industrials down 148 points and the s&p weaker by 7 points. european markets look like this. uk has begun rollout of pfizer vaccine. we showed you one woman who actually got the vaccine earlier today in the uk. ftse 100 is down 26, the cac quarante is down 37 and dax index is lower by 42. in asia mostly red across the board. worst performer is kospi. today is safe harbor day, trump campaign jenna ellis joined me on the latest. >> we have pending litigation in 5 states that's challenging the election results to say that the election officials did not act according to state law and so because this dealt with so many
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ballots and would be outcome determinative, the court needs to step in to make sure that illegal ballots aren't counted or any ballots that were counted in secret or against the rules of the state or ultimately against the u.s. constitution should not be counted. maria: jenna ellis will join me again in the 8:00 a.m. hour with the latest developments, join us for us. cbs is beginning to prepare for vaccine rollout, cheryl casone on how they are doing. cheryl: the company is announcing that it's looking for thousands of workers to help administer covid-19 vaccinations in the near future. in an e-mail cvs asked customer to forward anounment to any qualified pharmacist, nurses that they may know. well, toll brothers says sales are on the rise as more americans leave march -- large
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cities in search of space. ceo says the housing market is the strongest he has seen since 30 years at the company. federal judge stopped trump administration from blocking tiktok for the second time after congress department tried to restrict u.s. companies from conducting any transactions with tiktok in an attempt to stop american users from downloading the app. they say over national security concerns but 100 million people in the u.s. use tiktok every month. and finally, we are remembering the life of legendary pilot and adventurer general chuck yager, enlisted in the army air corp. after graduating high school in 1941, flying 63 missions in world war ii, after the war he served as test pilots for new aircraft becoming the first man to break sound barrier.
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death was posted in official twitter account where wife wrote, incredible life well lived, america's best pilots, the west virginia native was 97 year's old, back to you. maria: cheryl, thank you so much. joe biden expanding cabinet, general lloyd austin expected to be name officer of defense. he oversaw military operations against the islamic state in 2016 and organized the 20111 troop withdrawal from iraq. if confirmed general austin, first black defense secretary. joining me right now with reaction fox news senior strategic analyst jack keane. thank you very much for joining me. jack: great to be here, maria. maria: your reaction to general austin potential defense secretary? jack: first of all, i'm biased here because i've known lloyd
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and charline austin and has distinguished military record and i served with him at fort bragg. he was one of our top leaders and he -- during liberation of iraq as one-star general he helped lead the army division, third infantry division, as two-star general he commanded and deployednation aerocore commander working for general pertraeus and he was instrumental in what took place down when they ran with a couple of brigades, lloyd did something never done before, he moved headquarters and he became the
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four-star general who commanded all of our forces in iraq and as you said responsible for exit and transfer. i will say this, he recommended very strongly to the obama administration that we keep our forces in iraq, though the decision was to withdraw all of them. and finally he wrapped up his career for 3 years in central command which at the time is where our combat operations were being taken place and certainly the leaders who have been picked for that command very carefully selected to make sure they are on top of the situation. he's a very experienced combat general much like general jim mattis from the marine corps when he was nominated to be secretary of defense. i do think because it requires a waiver, you know, he's only been out of the military for four years and requires a waiver, have to be out 7 years if you're going to be appointed to the secretary of defense position, they'll be some discussions
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about civilian control of the military and i do think that's an appropriate discussion for the congress to have and it's very appropriate for general austin to respond to those questions and to be able to give his personal view on how he would conduct himself in overseeing the uniform military. maria: and we saw that with general mattis as well. general, i want to turn to the china threat. you were really among the first people to come on this program and raise the red flag about china. you told us that they were building a very strong military, we know that they've got the largest navy in the world. the director of national intelligence john ratcliffe joined me on sunday morning futures this weekend to talk about the intelligence that shows the chinese community party and what it's doing. here is john ratcliffe. >> it's called gene editing, it's altering dna and one of the things intelligence shows that china is doing.
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republic people of china has 2 million strong in military and trying to make them stronger through, you know, gene editing and that's just one of the ways that, you know, china is trying to essentially dominate the planet and set the rules in the world and why it's important people to know this is an authoritarian regime, we have seen what they have done to the uighurs and that's the exact opposite of what has made america great. maria: we are talking about use of artificial intelligence in the military but to actually do this gene editing and have this program to test members of the plo2000000 communists to try to make them better and more equipped to handle extreme weather, more equipped to handle chemical attacks, pretty
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extraordinary the lengths that they are going, general? >> yeah, it's not surprising, as director ratcliffe said this is an authoritarian, repressive regime that as a premium is constantly in control of its people and the fact that they're trying to use gene editing tools to change the nature of human beings is not surprising because this is who they really are and we had that similar experience, did we not, with naziism and authoritarian regime trying to conduct human experiments to do the very same thing. it's really to advance the chinese communist party and the state is what this is all about. and the fact that they would take human beings and put them through this is quite something else and the ethical questions that surround that are certainly serious. it's one thing to use techniques like that to control disease, it's another thing when you're
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altering human beings. that is -- that is clearly something that the united states and like-minded countries' democracies would never take on. maria: i mean, is china ready to go to war with the united states. meanwhile you have the financial service's companies all in on china, goldman sachs acquire 100% of its security's firm there. jack: what china wants to do, maria, is dominate and control the asia-pacific region which which they have made real progress at at the expense of the united states. they are the most rapid-growing military in the world. they have a very strong economy and they are in a technology race to control advanced technologies of the world. they want to dominate and control the world and change international order but they want to do it without having to fight a war. and they want to avoid that war, but they will use their military to -- to bully, to intimidate and if necessary, go to conflict, if necessary.
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but they are -- given the success they've had and the progress they've made avoiding conflict, that's really where they are. maria: all right, general, we will leave it there but i did want to ask you real quick, do you think that the u.s. should get back into the iran nuclear deal, that's what jake sullivan said joe biden would do? jack: i don't think we should get back into the nuclear deal as it was previously constructed because we know it's flawed. i think they have unbelievable leverage from the trump administration in terms of the sanctions, the progress made with arabs and israelis to leverage a better deal. don't just knee-jerk and remove sanctions, use leverage against them. i think the iranians would have come forward and negotiated with president trump if he was reelected because they're in a very desperate situation. we have leverage now that we did not have in 2014 and 2015. maria: all right, general, we will be watching, thanks so
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much, good to see you this morning. general jack keane. jack: great talking to you, maria. maria: and to you. ♪ ♪
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ask your parkinson's specialist about nuplazid. maria: welcome back, coronavirus cases sparking to worsing level, deborah birx warning of severity of the matter this weekend. >> this is not just worst public health event, this is the worst event that this country will face. not just from a public health
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side. maria: this increase in cases comes off the heels of busy thanksgiving travel weekend although we can expect a vaccine in short adder, there are fears that end of year travel could escalate the issue. joining to discuss is john hops since school of public health professor dr. marty makary. thank you for being here. doctor: good morning. maria: what's your reaction from what you heard from dr. birx and you recently wrote about career fda employee slow-walking vaccine approval process, tell us about that? doctor: first of all, maria, the next two months are going to be ugly, we are on track to hit 400,000 deaths in the united states and at the current rate there's no slowing down. that's when you hit the exponential phase of the growth and we have 100,000icu beds in
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the hospital. it's going to be ugly and people need take precautions. we calculate that 34,000 americans will die from the virus during the time that the fda is looking at the pfizer vaccine application. that's more americans that have died in afghanistan, and iraq and 9/11 combined just during the time they are looking at the application. americans have a right to ask why is england giving the vaccine and have authorized it already at a time when the united states has not. maria: we keep hearing about temperature checks as a preventive measure for stopping transmission of the virus. there are potentially many walking around with the virus without fevers, though, right? is there a point to make there?
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doctor: asymptomatic transmission is the ultimate way that the virus is spreading in the way that we haven't contained it. we are seeing massive investment by businesses and temperature checks ask them how many people have tested positive who didn't know that they already had the virus, so i think the investment is much better spent on hvac and hepa filters in institutions. maria: let me ask you about department of health releasing warning of covid patients they call long haulers, those people that can experience symptoms long after having the virus, lingering breathing issues, blood clots, variety of mental health issues, is this something that people should be aware of in terms of the long-term symptoms of covid? >> yes, it's very concerning, maria. about 10 to 15% of young folks develop these long lingering symptoms and fatigue muscle
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ache, headaches, often neurologicals can be some pins and needles or numbness and those are the sort of things that are lingering for months. we call long-haul symptoms, those exceed 90 days after the infection and could be as high as 10 to 15% of folks, it seems to be clustered of people in age of 30's and 40's and it's something to keep in mind because it's not just mortality that's the risk with this virus. young people will tell you that it can be sometimes debilitating to have the long-haul symptoms and we don't know the future, we don't know if they will resolve 6 months after a year so people need to take seriously. maria: you are saying that we are going to a negative and dark period where we are expecting increase in death and sicknesses, the scientists forecast 1 million deaths, right? doctor: actually over 2 million deaths and i think we were on track to do that.
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deaths today is a lot easier -- it's a lot easier to preserve life than it was in march and april. folks that have taken -- maria: it's not as bad as we thought? doctor: we are nowhere -- we are doing much better, 90% better preserving life for somebody sick than than we were in march or april. maria: thank you so much dr. makary, good to see you this morning. we will be right back. doctor: see you, maria. and for the extra pump of caramel. thank you for the good food... and the good karma. thank you for all the deliveries... especially this one. you've reminded us that no matter what, we can always find a way to bounce forward. so thank you, to our customers and to businesses everywhere,
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introducing the new sleep number 360 smart bed. now temperature balancing, so you can sleep better together. can it help keep me asleep? absolutely, it intelligently senses your movements and automatically adjusts to keep you both effortlessly comfortable can it help with snoring? i've never heard snoring. exactly. no problem. and... done. so you can really promise better sleep? not promise. prove. and now, save up to $700 on new sleep number 360 smart beds. plus, 0% interest for 48 months on all smart beds. only for a limited time. maria: welcome back, it's time for the morning buzz, first up pizza takes the top prize. pizza stays on top for second year in a row as one of america's favorite foods, people like variations of the pizza puffs and buffalo pizza 2%
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popular than last year. jon: i'm looking at pizza puffs and buffalo pizza. you and i know that the only pizza in the world is new york pizza and pizza in brooklyn. maria: that's right. jon: you had a -- maria: the rex manner restaurant, catering hall but we had a fantastic pizza oven and people would come in and have a pie and sit at the bar and have a pizza pie. my dad would bake 25 pizzas a day. i come from a pizza family. jon: what's your pizza secret? maria: what my dad is doing in the picture, making sure to get the dough rights.
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i say knuckles, knuckles because making the dough is the most important point of making a pizza, dagen. dagen: i was doing it when you were saying knuckles, knuckles, not that i can make pizza crust but i tried. maria: all right, we will take a break, when we come back we will look at how to allocate capital, investors get ready for year end capital with the word on wall street. more mornings with maria live on fox business. ♪ ♪ (♪ )
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maria: welcome back. good tuesday morning, everybody. thanks so much for joining us. i'm maria bartiromo. it is tuesday, december 8th. it is down to the wire, it is safe harbor day today, the arizona supreme court set to hear a challenge to the election's mail-in ballots as senator ted cruz says he's ready to argue the case and join the legal fight in pennsylvania. trump campaign attorney jenna ellis will join me coming up.
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she joined me last hour and here's what she said. >> the china threat, new reports show how much influence china is trying to wield over lawmakers at home. john ratcliffe told us they are bribing lawmakers. we learned goldman sachs is laying down new investments in the country and owning their security business 100% in china. kyle bass will join me live this morning at 8:00 a.m. eastern to discuss this and a lot more. markets are lower this morning. futures indicating a triple digit move lower at the start of trading, the dow industrials down 178, naysin nasdaq down 57. this after a mixed market yesterday, take a look. the nasdaq notched its third straight record close at 4:00 on wall street yesterday. the dow industrials were down 148, the nasdaq was up 55. the stimulus showdown continues, lawmakers set to extend government funding for one week as the rise in number of covid
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cases make the need greater. elon musk's venture to the lone star state, new speculation surrounding the tesla chief operation's new location to texas. breaking it down in the 2024 olympics, the new sport joining the competition making a buzz this morning. "mornings with maria" is live right now. european markets meanwhile look like this. take a look. the u.k. beginning its rollout of the pfizer vaccine this morning, the first shot was given to an elderly woman. the ft100 is down 35, cac is down 5 50, dax lower by 61. in asia red across the board. the worst performer was korea with a decline of 1 and two-thirds percent. today is safe harbor day, the deadline for all states to finalize election results.
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but the fight is far from over. republican lawmakers in pennsylvania are calling on the supreme court to void their state's vote count aztecs as senator ted cruz offers to argue the case before the justices. >> i'm hopeful the supreme court will step forward to its responsibility and resolve this case and resolve other cases as needed, according to law and according to the constitution, to say this is a country where we respect the rule of law, where we follow the constitution. maria: u.s. judges in michigan and georgia rejecting lawsuits to overturn election results in their states. meanwhile, joe biden is expected to announce retired four star army general lloyd austin as the pick for defense secretary. he would be the first african-american to lead the defense department, as biden's be pick for national security advisor, jake sullivan, tells the wall street journal that sees the u.s. rejoining the iran nuclear deal which president
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trump pulled out of in 2018. on to the jack seen front, a 90-year-old british woman became the first to receive a covid vaccine outside of clinical trials. she was injected this morning in her local hospital in coventry, england. she said she felt privileged to be inoculated first and is looking forward to seeing her grandkids once again in person. time for the word on wall street, top investors watching your money this week. joining me to talk about markets and investing is editor and publisher dennis gartman, ryan payne and director of strategy, francis newton say sigh. great to see everybody -- stacy. great to see everybody this morning. futures indicate a decline this morning as investors watch a surge in covid cases and new lockdown cases. the dow finishing lower after last week's record close.
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markets are at or near record highs, though, despite all of this. what's your take on where these markets head next? >> i think the markets are a good deal over-valued, far too many people in the public involved in the markets, far too many insiders, far too much in the course of insider selling. when insiders are selling and the public is buying it's wisest to reduce your exposure and perhaps go to the sidelines. i'm fearful about the stock market up here. i loved stocks in late october, early november. i'm not here. it's because the public is in and the insiders are selling in an you aggressive, almost historic level. so be careful. can the dow fall 1,000 points from here? it could do so relatively quickly and still be within the confines of a well-defined long-term bull market. are we overvalued and overpriced, have we risen too far too fast in november and december? absolutely. maria: all right. ryan, let me turn to the covid-19 stimulus negotiations, is that going to help.
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negotiators hammering out details surrounding liability protections as well as working businesses, working during the covid-19 pandemic, ahead of a potential government shutdown at the end of the week. what's your take on the importance of getting another stimulus bill? >> i think it's like the sun rises in the east. politicians can always agree to spend money. so i think a lot of that's actually priced in already. i think you will get some sort of stimulus. i don't think it's one of these things where we're going to have to -- it may get drawn out but i definitely think we'll see stimulus there. i think the bigger stimulus is what you mentioned this morning about the vaccine and someone already taking it in the u.k. so i think the stimulus coming up and that's what the market's starting to price in, is if we get the economy reopened by next summer, we could have a mini economic boom by the end of the year. dennis, you know you're my main man but i think we'll get a meld-up into the end of the year. with so much money sitting in cash on the sidelines, things
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may have gotten ahead of themselves right now but most money managers are still under-invested and i think if you think about the market's forward-looking, we're starting to see how good things are going to look in a couple months, in six months, 12 months and markets are looking out that far. so the real stimulus is definitely going to be that vaccine and i think right now if anything you've got to get invested, you've got to strategically be ready for reopening of the economy, that's how i'm investing my clients' money right now. maria: this is what makes a market. dennis is looking for 1,000 -- wouldn't be surprised to see the dow drop 1,000 points and you're at the ready to buy because you're looking for a melt-up. francis, one thing to look at is the fact that there aren't a lot of alternatives to stocks with the 10 year treasury yield where it is you're watching the yield closely and the federal reserve's reaction to a rise in yield. we're up 7 basis points right now, still at 9.33%. what level would you consider
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the yield curve attractive? >> well, the thing that's very interesting is the reason that the fed would have to employ yield curve control or move that yield back down with their asset purchases is because you have to service old debt with new debt and if debt service gets too expensive, that threatens servicing debt and threatens people from things like that going forward which is deflationary. the estimates on the yield curve control, some people say it's 1%, some people say it's 1.25%. it's really the rate as which it goes up. because they'll monitor the debt service all along the way and it's when they see a threat to the debt service. if it goes up too quickly and they can't monitor it quickly enough, they're likely to be more aggressive. maria: do you believe that they will be more aggressive? does an incoming janet yellen appointment here dictate how this moves? with her being treasury secretary, former federal reserve chairman. >> absolutely. she is very doveish.
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the alignment really is that we have to paper over this record amount of debt in the system with new dent and you have of to paper over old of debt with cheaper, new debt. you have to keep up with the debt service. that's going to be the primary goal of the fed so we can get out of this. massive defaults in any credit market, whether corporate or consumer, that's very deflationary and that doesn't support the recovery. that's what they're going to be watching and i think traders will sell in advance around 1%, traders are going to start selling because they don't really know where the fed's going to step in so the risk goes up dramatically to hold onto yield and i see people buying treasuries here pretty soon if they get much higher. maria: all right. we will leave it there. dennis, ryan, francis, great to see you guys this morning. thank you so much. much more ahead. coming up, stimulus negotiations in focus, louisiana congressman steve scalise will give us some information on that, he'll weigh in on capitol hill's reaction.
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next hour i'll speak with eugene scalia to discuss where the jobs are and funding before a potential government shutdown at the end of the week. friday, government runs out of money. and then patrone spirits founder, with the impact on small business. join me with dagen mcdowell and jon hilsenrath when we come right back. you're watching "mornings with maria," live on fox business. ♪ and i got to, got to know. ♪
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maria: welcome back. avoiding a government shutdown, senate image o majority leader h mcconnell confirming congress will pass a spending her your to keep the government open. a $908 billion bipartisan bill is on the table which includes nearly $300 billion for paycheck protection loans and an additional $180 billion in additional unemployment insurance. it does not include individual checks. joining me right now is louisiana congressman and house minority whip, steve scalise. congressman, always a pleasure to see you. thanks so much for joining us. tell me where you see this funding extension helping and whether or not you do believe
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that they will come up with some kind of relief for covid people impacted. >> yeah, maria, good morning. great to be back with you. and look, there's been a lot of interest on both the republican and democrat side for months now on helping those small business whose are struggling and it's heart-breaking, every day you hear more stories of businesses that are dying on the vine. you see the hypocrisy of some of these governors saying you can't open your restaurant but they're out at their favorite restaurant and it's killing the psyche of these small businesses. we have a bill that would be using the $137 billion that's already frozen, sitting in an account, to let those businesses go for a second round of funding who are struggling, for many reasons, speaker pelosi hasn't brought that bill to the floor. she acknowledged one of the reasons she's holding up relief is because she's waiting for a new president. that angers so many people who are saying stop holding us
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hostage. there's a lot of interest in getting something done. thrls not a lot of interest in bailing out failed states for example or sending checks to people who are here illegally which is some of the things the democrats were holding out for. i think there's interest in getting a deal done. we need to get it done yesterday because of so many businesses dying on the vine. some businesses would be facing actual being taxed on the ppp loan this already took out, that was never congress' intention. that needs to be fixed as well. maria: but you make a really important point here on nancy pelosi, congressman, because before the election when she was negotiating with president trump, she would not even hear of anything below $3 trillion or at one $.2.2 trillion. she said the american people need help and that's why. and now that we are after the election and she's expecting joe biden to be the president, she says, well, now i will say yes to something that's below
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$1 trillion, $908 billion, because there's a new president. i mean, she just told us all that it was all politics. so you've got small business and people out there who are dying, who are in such need of help, and it was all politics. >> yeah, it's infuriating, maria, because every day we hear stories of businesses, in new orleans we love our restaurants and there's story after story of famous world class restaurants that will never open again because they didn't get that relief that they needed. if we pass a bill next week, that would be great. but there are thousands of businesses that should have never closed if they would have gotten that help months ago. in september i started bringing up the idea to the majority leader that we had this bill that everybody agreed to. you get over 400 votes on the house floor to let businesses go for a second round of loans. it's not a dime of new deficit spending. it's money sitting in an account, frozen. just let the money be freed up for the business that's were
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struggling and they wouldn't bring the bill to the floor. we found out last week when speaker pelosi made that statement that the reason it was being held us was not because of differences of opinion, it's because she was waiting for a new president. she didn't want trump to get credit. thousands of businesses will never open again that could have been saved and the jobs, there's millions of jobs, vanished from our economy, even with the vaccine, with our economy eventually coming back. these businesses will never come back and they should have been able to survive. maria: i mean, what a sad state of affairs. you've got politics driving the day on stimulus. you've got china wanting to replace the united states as the number one super power. at a time that there's a lot of speculation that a potential biden administration is going to be much easier on china. look at goldman sachs right now, owning their securities business 100% in china. there are negotiations now to
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allow the cfo of huawei, the founder's daughter, who has been detained in canada to let her go back to china. are we looking at a much different policy? also speculation that, look, jake sullivan, incoming nsa a, said, yeah, a biden administration is going to put us back into the iran deal and there's been no accountability for real wrong-doers in terms of those who broke the law by spying on innocent americans just because they didn't like donald trump. >> president trump brought this up multiple times during the campaign. i think it was a big issue and a concern with so many people that a joe biden administration would be soft on our enemies, soft on china, soft on russia. as you said, going back into the failed iran deal where they get a nuclear weapon, frankly it was the reaction to the iran deal that brought countries like uae and bahrain to the table to sign peace agreements with israel and president trump led that effort and you look at the paris
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accord. they say they would bring john kerry back to get us into a deal that literally would hand the keys to the store over to china because china's exempt from the paris accord. not a single country in europe is in compliance because these are ridiculous, unachieveable targets and it wrecks manufacturing economies. why would we want to do that to america? trump had us at the most robust economy in the history of our nation before covid. we need to get back to that, that's where our focus needs to be, bringing manufacturing and jobs back again and the energy revolution has to be part of that. you don't want to get rid of american energy. these things will be made somewhere in the world, why not make them in america where we reduce carbon emissions through innovation, not wreckless policies that will kill manufacturing jobs in america. maria: let's not forget the most obvious of all, with all of the globalists wanting a foothold in china, china is the world's biggest polluter.
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anybody who has been to china knows that. as soon as you get off the plane, the air stinks. i mean, it smells like a factory because that's what it is, factories making products for the world. and you can't get away from it. i remember when i went, i was in my hotel room, i couldn't get away from it. it stinks in the hotel as well. the air quality is that bad. so all of these individuals who say i want to go to china for the growth stor story and sell y widgets to 1.4 billion people and then they turn around and say they want to get rid of fossil fuels in america. really? dagen mcdowell, your reaction? >> they literally exempt china until 2030. they burn plastic. it's toxic things they burn. we have great environmental standards. america is the leader in the world in innovation. don't crush that and send those jobs to china. maria: i mean, the hypocrisy is
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can it help with snoring? i've never heard snoring. exactly. no problem. and... done. so you can really promise better sleep? not promise. prove. and now, save up to $700 on new sleep number 360 smart beds. plus, 0% interest for 48 months on all smart beds. only for a limited time. maria: welcome back. setting his sights on texas, rumors are swirling around tesla's ceo, elon musk, potential move to texas. the musk foundation is merging with its austin based entity, causing speculation that musk will make the move to follow the foundation which would make him another billionaire leaving california behind and going to low tax states like texas and florida. dagen mcdowell, your reaction? dagen: clearly, elon musk chafing at the onerous regulations and the high taxes of california. this is just his foundation. the only problem with these businesses who employ extremely liberal people is when they move
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to these low tax conservative states, people bring their politics with them. that turns -- basically up-ends the reason that they moved to these conservative, low tax, low regulation states in the first place, because liberals go to the polls, go to the ballot box and vote in people, well, raise taxes and layer on regulation. it hasn't really happened in florida and texas. not yet. maria: unbelievable. you want to -- tesla's market value reached $608 billion for the first time yesterday. incredible. it is now just one of five s&p 500 companies to join the ultra small club tracked by the dow jones markets group. the rising stock price making musk the third richest person in the world, jon. jon: that $600 billion market value is really incredible, maria. look at the market value of general motors and ford
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combined, it's $100 billion. tesla is six times more valuable than ford and gm. you know, i've been skeptical on your program in the past about tesla and whether elon musk was going to be able to turn this into a viable business. i've got to say. i've been dead wrong. i've been dead wrong about tesla. dagen: me too. jon: what the market is saying right nows is that 25 years from now, we're not going to be driving internal combustion engine cars anymore. and what's really impressive, one last thing, what's really impressive about tesla is they're making money. they turned in the third -- in the last quarter, they turned a cash flow of $1.4 billion, so they're not just making these cars and selling them. they're making money from it. and i was wrong about them. dagen: you know what investors seem to be betting on, that this legislation in front of congress right now where internal combustion automobiles would be
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outlawed in 15 years. it was part of the green new deal. so those cars go away based on -- because of the government and regulations in 15 years. let me add one thing. i've been wrong about elon musk too. i tried to interview him years ago. he walked off camera because he had a meeting at goldman sachs. i used to call him a jerk repeatedly. you know what, i'm wrong. maybe he's a jerk but he is so smart. maria: maybe he's not a jerk. jon: on the laws, the market is telling us that -- like the cars are selling. the market is going to outlaw the internal combustion engine. dagen: 2% of the cars in this country that are sold every year are electric. just 2%. we only get to the volumes that the market is betting on with tesla with government regulation. jon: well, they're selling a lot more of them and they're making money doing them. i think the market is tellings us that people are going to buy them, people want to buy them. dagen: if they're forced to.
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maria: we'll know if we see the regulation go that way in january for the senate races, by the way. when we come back, we're spotlighting she-eos, female executives. we're talking to nissan know mos first, to get her take on the electric part of the car market. a new sport is making an olympic debut in 20124. we're going -- 2024, we're going to break it down in the morning buzz. stay with us. ♪ keep it coming, love. ♪ keep it coming love. ♪ don't stop it now don't stop it now. ♪ this is decision tech. find a stock based on your interests or what's trending. get real-time insights in your customized view of the market. it's smarter trading technology for smarter trading decisions. fidelity.
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maria: welcome back. good tuesday morning, everybody. thanks so much for joining us. >>.we are expecting a decline at the start of trading in the
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triple digits, the nasdaq is lower by 52, the s&p 500 down 20 points, after a mixed market yesterday. the nasdaq notched its third straight record close yesterday. the other indices were lower. the nasdaq up 55, the dow industrials were down 148 and the s&p was weaker by 7 points. european markets this morning look like this. the u.k. has begun its rollout of the pfizer vaccine, an elderly woman got the shot earlier today. the ft100 is down 33, the cac is down 45, the dax is lower by 52. in asia overnight, red across the board here. as you see, the worst performer was korea, kospi index down 1 and two thirds percent. we're following the fight for a free and fair election. today is safe harbor day, the deadline for all states to finalize election results. jenna ellis joined me last hour to give us an update on the 22 dominion voting machines that were granted a forensic analysis in michigan. >> this is a lawsuit that an
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elector brought himself. this isn't the trump campaign. it's an independent group. we're not paying for this forensic audit, it's not our assessment. we are encouraged that an independent team went in and was able to capture imaging, the forensic analysis and they should have the results within 24 hours. we're very excited to see what that yields because of course there are so many questions around dominion and the voting machines that the american people deserve answers to. maria: jenna ellis will join us once again in the 8:00 a.m. hour this morning. she's going to walk through where the campaign stands now on their election challenges. meanwhile, uber slimming down and selling off itself-driving unit business. cheryl casone with details. cheryl: good morning again. so in an effort to fulfill its promise to shirks uber sold its self-driving car program. they have been selling off
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items. as part of the deal, yiew uber l hold a 28% stake in aurora innovation. we don't have uber. we'll get that stock to you a little later on. jc penney out of bankruptcy just in time for the holiday shopping season. the retailer announcing the sale of its retail and operation assets to the biggest landlord, simon property group and brook field asset management. the company has access to $1.5 billion in new financing will continue to use the jc penney banner. dish network settling its telemarketing lawsuit, agreeing to pay more than $210 million in penalties for violations. this case was first brought by the federal government in four states over a decade ago. dish network continues to deny any wrong-doing. and finally, there is this. bob dylan has sold his entire six decade catalog of songs to
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universal music publishing group, believed to be worth from 200 to $300 million, encompassing more than 600 copyrights over a 60 year period, from blowing in the wind. while the final price wasn't made public, stevie nicks recently sold her catalog for $100 million. those are some of your headlines from the newsroom. back to you. maria: thank you so much. spotlight on she-eos and female executives, nissan motors naming allyson witherspoon the first chief marketing officer last month. she is responsible for product marketing. this comes as the company unveils 10 new products in the next 20 months. joining me right now is nissan u.s. chief marketing officer, allyson witherspoon. allyson, great to see you. congratulations to you. you're unveiling two new nissan vehicles. tell us about the interest in
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the vehicle today and how much you're seeing in terms of the demand for electric. we just had this whole conversation about what elon musk is doing. >> yes. so actually it's great to be here with you today, maria. so we're incredibly excited. today we are revealing the new 2021 armada, this beautiful beast of a vehicle back here as well as the new 2021 kick which is on my other side. we're very excited. this adds to our incredible lineoff of suvs. what we've seen is we've seen refreshes in the exterior as well as a lot of refreshes in the interior, adding safety and technology and connectivity features, so excited to launch these new products today, adds on to the product of transformation, launching the 2021 rogue and we have more exciting new products coming up. in addition to that, earlier this summer we launched or we revealed the aurea, the
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all-electric concept coming later in 2021. we have a full lineup based on whatever consumers are going to need, whether it's large suv to something a little bit smaller. maria: do you see a lot of interest in the electric side of things? do you expect that regulation is going to catch up with that interest? >> so what we've seen -- and any nissan was actually the first mass produced electric vehicle with the nissan leaf. it has driven over a billion miles. we are also introducing the aurea our all-electric concept. we're developing products and bringing products to market based on what consumers are needing, delivering that thrilling driving experience. that may be internal combustion engines. we have a long history of electrification as well. maria: what effect has covid-19 had on the industry? how do you sell cars in an environment like this?
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>> so covid-19 has had an incredible impact on the automotive industry. we saw immediate declines in the march and april timeframe. we also saw an interesting shift in how consumers were shopping. so much of the activity had been moving online. and while online retailing isn't new, it was not quite as prevalent in the automotive space. so what we did at nissan, we started bringing forward a lot of our online digital shopping efforts and accelerated them into the may time period to really address those consumer needs. what we want to be able to provide are shopping experiences based on how consumers are going to want to shop. and so it may be something that's more digital in nature and we want to provide those experiences but we also want to provide experiences to consumers that still want to go into the dealership, still want to test drive those vehicles so. it's really going to become about what is based on consumer needs and i think that's what's really exciting. maria: you know, we've been talking about self-driving cars for some time. what's your take there?
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uber is moving to sell its self-driving reserve division to a startup company, volkswagen says they expect autonomous markets to hit the market between 2025 and 2030. when i did a special on a.i., what i came away with, we're not going to see self-driving cars on the road in a long time. how do you see it at nissan? >> there's a slew of advanced engineers working on this very challenge and what are the consumer behaviors and trends. what we've seen actually -- we launched on the all new 2021 rogue, wor we're offering pro pt assist. we want to provide technology that assists the driver. if you want to be more active in the driving experience, we have that experience. you can be hands on. we have our chill mode where you can sit back, relax, you'll have the distancing that the car's helping you to do or of engage when you're ready to engage. maria: allyson, a moment ago
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you said it was first nissan that came out with the first electric vehicle. you're right, it was carlos ghosn's leadership. i had been interviewing carlos ghosn literally for 25 years and talked to him a number of times about what he wanted to do with electric vehicles. of course, the past two weeks a united nations human rights panel announced that ghosn should receive compensation for his arrest. has the carlos ghosn incredible mystery of getting taken down by japanese authorities and then escaping, has that had a big impact on the company? >> so for us, i think first on the electrification side, actually the tommo was the first electric vehicle which was several decades before the leaf but the leaf was the first mass produced vehicle. what we're focused on at nissan is building a sustainable business for our dealers, for our internal employees and really it's about delivering thrilling products to our consumers and that's what we've
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been focused on. maria: any impact from the carlos ghosn saga? >> again, our focus is on building a sustainable, profitable business for our employees, for our of dealers and delivering those thrilling products to our consumers. maria: allyson, congrats to you. great to talk with you this morning. thanks very much for being here. allyson witherspoon joining us there. >> thank you. maria: coming up, american companies reliance on china, american giant ceo and founder is here weighing in on apparel companies and getting their cotton from china. you're watching "mornings with maria" live on fox business. did you know you can go to libertymutual.com
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maria: welcome back. the trump administration banning cotton imports from xinjiang production and construction corp., a powerful chinese military corporation, using forced labor of detained uyghur muslims, joining me right now is the ceo and founder of american giant, bayard winthrop. it's great to have you this morning. thanks very much for joining us. first, assess the situation for us. how reliant are u.s. apparel companies on the region of xinjiang and this company? >> yeah, well, unfortunately, very much so. the xinjiang is the far western province of china, borders right up against pakistan and is where almost all of the cotton grown
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in china comes out of and, therefore, involves nearly all of the apparel supply chain in china and so unfortunately most big apparel companies in the united states and worldwide are very reliant on this region. and unfortunately, involved in some capacity in the uyghur situation. so it's ugly business, unfourth unfortunately. maria: this is unbelievable. so we have this video of the uyghurs in china. now, this video i want to say is from 2018. so it's a while ago that this was shot. you can't get in there to shoot any video, obviously. they won't allow you. what we see here, we see men who are shackled, who are handcuffed, being told what to do and these are ethnic minorities. by the way, it's not just muslims. there are catholics. it's just minorities who want to practice their own religion and the chinese communist party says no, no, no, no, you're in china,
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there's no other religion, other than the chinese communist party and they are being held, detained in what some people call concentration camps, china calls them reeducation cam camps and they are in the region of xinjiang. your company works with farmers across the country. can you make clothes without importing the cotton from xinjiang? >> for sure, maria. i mean, i think the larger story here really is we have spent much of the last 30 or 40 of years of u.s. policy, particularly in the textile and clothing industry, pursuing policies of cheapness and going after the cheapest means of production, the lowest environmental standards, the lowest human rights standards and big apparel companies have benefited might ely from that policy. and unfortunately has chased those cheap regulations wherever it would take them and that very much included china. and so much of the last 40 years
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our dollars have been going overseas to chinese manufacturers in order to support very, very cheap clothing. there's a completely alternative narrative. we've got a phenomenal textile industry here in the united states, incredibly capable. all of our of clothing in american giant is made entirely in the u.s., from the cotton in the ground all the way through. it does require a commitment. it does require really living by the values that the united states has put into place over 200 years of labor rights laws and environmental protection laws. it's very much possible. it does require some forttitude and commitment to values that i believe are transparently good, given the news coming out of china now. not only possible, but viable and it's morally something we ought to be taking a hard look at right now. maria: businesses have to make a decision. do you just want to make money? is that all it's about, to work with a regime that is wanting to
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overtake the united states. here's john ratcliffe on sunday morning futures with me on sunday about how china is trying hard to get inside american institutions, to replace them on the global stage and they're doing it also by bribing congress. watch this. do these folks not understand that china is trying to replace the united states as the number one super power, here? >> what we see is why china does so well under u.s. laws is because u.s. laws have been influenced by the actions that they've taken and the american people need to be aware of that and hold their elected leaders accountable with regard to legislation that would impact china. maria: how hard was it for you to make the decision, well, we're going to -- even if it's a little more expensive, we're going to develop this here, we're going to work with u.s. farmers? >> not hard, maria. only because it's just such a
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privilege to work with the farmers and the manufacturers here in the united states and then see the consumer response to it. i think i agree with you that it's one part, brands making decisions. but i think consumers and policy makers also have a role to play here, particularly as we head into the christmas season. consumers need to i think take a look at how they're directing their dollars and what brands they're supporting. policy makers need to take a look at trade agreements and economic policy and where we're incentivizing purchasing and manufacturing behavior. i think it has to be a collective effort. but as far as american giant and motivation behind it, it's been the great privilege of my career to be able to build a business on the back of u.s. labor. it's been fantastic. maria: well, good for you and congrats to you and american giant. it's great to have you this morning. thanks very much. we're talking about -- >> merry christmas. thanks for having me. maria: and to you. merry christmas. spies are working with ericwell in china, it's unbelievable.
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check out my book, it's called the cost, trump, china and american revival. it's available right now. myself and a james freeman wrote the book. we zero in on these issues around china. we'll be right back with the morning buzz. stay with us. ♪ ♪
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maria: welcome back. it is time for the morning buzz. first up, breaking into the olympics, the 2024 paris games added break dancing as a competitive sport. 16 athletes in the men's and women's division will debut in the breaking contest, one of four new sports added to the lineup, others include skateboarding, climbing and surfing. jon, are you excited for the new addition to the olympics. jon: you really touched a nerve on this one for me. yesterday, president trump gave a presidential medal of freedom to dan gable, one of the great
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wrestlers in american history. not only a great wrestler but an amazing coach who won 15 national titles. back in the '80s, nobody messed with iowa wrestlers. wrestling programs all over the country are being decimated, being cut by the economic crisis and title 9 and other things. now we're talking about break dancing in the olympics when like real sports like wrestling are getting cut? that's like way too much. like what's the biggest risk that a break dancer is going to face in the olympics? that his pants might fall down because they're too big? this is just said. -- sad. it's sad for america. they're cutting weight lifting and boxing. come on. like real sports. we need real sports in the olympics. maria: dagen? dagen: these dancers are athletes and if you've ever watched break dancing like modern break dancing in the 21st century, they are athletes.
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it is -- it takes incredible skill and physical strength to do what they do. and that applies to all the olympic sports. jon: i don't diminish their skill or aptitude. when programs like wrestling are being cut all over the country for break dancing, i just -- i'm sorry. i've got no time for that. maria: still ahead, a big you 8:00 a.m. hour is coming up. hear from kyle bass, he will be here to talk china and investing, plus jenna ellis, secretary eugene scalia, it all starts in the mention couple minutes, -- next couple minutes, next hour. "mornings with maria" is live on fox business. s) s) the world loves a hybrid. so do businesses. so, today they're going hybrid with ibm. a hybrid cloud approach lets them use watson ai to modernize without rebuilding, and bring all their partners and customers together in one place. that's why businesses from retail to banking
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maria: welcome back. good tuesday morning, everybody, thanks for joining us, i'm maria bartiromo, and it is tuesday, december 8th. 8 a.m. on the east coast. it is safe harbor day, the arizona supreme court set to
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hear a challenge to the election's mail-in ballots as senator ted cruz says he's ready to argue the case and pennsylvania and join the legal fight. trump campaign attorney jenna ellis is back with me this morning coming up in ten minutes' time. meanwhile, the i china threat deeps, new reports show just how much influence china is trying to wield over u.s. lawmakers here at home as we also learn goldman sachs is laying down new investments in the country to own its own securities business 100% in china. kyle bass will join me next on this and a lot more, coming up. we are expecting a triple-digit decline in the dow, down about 113 points at the open, the nas a damage down 43, and the s&p lower by 17.5. the nasdaq notch 3 its third straight -- notched its third straight record close yesterday,s but the dow industrials were down 148 points. lawmakers set to extend government funding for one week as a rise in covid cases makes
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the need for relief even greater. labor secretary gene scalia is here this hour, and a look at where jobs are today. well, she was named employee of the month, congresswoman alexandria ocasio-cortez actually being named employee of the month for gioia brands, we will explain i why coming up. and then breaking a 2-year-old tradition, the kardashian family's end of the year announcement is making a buzz this morning. "mornings with maria" is live right now. your peen markets are mostly -- european markets are mostly lower, the u.k. has begun the rollout of its pfizer vaccine. an elderly woman got vaccinated earlier today. the dax index in germany lower by 32. in asia overnight it was red across the board, the worst performer was in korea. now some of the top stories that we're watching this morning.
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today marks safe harbor day, the deadline for all states to finalize election results. but the legal fight not over. republican lawmakers in pennsylvania are calling on the supreme court to void pennsylvania's vote count as texas senator ted cruz is offering to argue the case before the supreme court justices. ♪ >> i'm hopeful the supreme court will step forward to its responsibilities and resolve this case and resolve other cases as needed according to law and according to the constitution, to say this is a country we respect the rule of law, where we follow the constitution. maria: u.s. judges in michigan and georgia, meanwhile, are rejecting lawsuits to overturn election results in their states so far. meanwhile, joe biden is expected to announce retired four-star army general lloyd austin as his pick for defense secretary. austin would be the first african-american to lead the department of defense, if confirmed. on the vaccine front, i
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mentioned a 90-year-old british woman becoming the first person outside of clinical trials to receive a covid-19 vaccine. maggie keenan was injected with the pfizer vaccine earlier this morning at her local hospital in coventry, england, making the country the first to begin a nationwide rollout plan. meanwhile, president trump will kick off a vaccine summit to tout the rapid development of the covid vaccine before rollouts here at home. a global banking deal we are watching this morning, goldman sachs moving to acquire full owner hardship of its securities joint venture in china, the first global bank to do so. in march china's securities regulator approved gold match's bid e to take full -- goldman's bid to take full control of its securities company. joining me me now is hayman capital management founder kyle bass. kyle, thanks very much for joining us.
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you know, there was a great piece in the journal about a couple of weeks ago, week and a half or so ago talking about how it was the financial services executives that came to the rescue of the chinese leadership when they couldn't get a deal done with president donald trump. they asked the financial services executives to pretty much lobby for them, tell the u.s. government why china's so great, and they would get access, and that's exactly what's taking place here. your reaction. >> maria, it's true. if you look at the joint ventures that the u.s. securities firms have had, really western firms, in china, a chinese communist party member has 95% of the time been the economist to those jvs. they've controlled the narrative that the west tells about china and chinese investment. the fact that now they're allowing goldman sachs and probably many others to acquire full ownership of their stakes in china, one of the caveats to this deal is probably not in print but that goldman has spoken with the chinese about is
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the chinese require goldman to turn over all of its customer data at all times, and all the server funds must reside in china. and goldman's having a, you know, they're going to have to think this all the way through about what data they actually leave over there in china and what they allow the chinese government to see for all their customers: as we know, many of the customers are going to be u.s. and global customers. there's still data privacy laws around this world, and goldman's going to have something to contend with on the data privacy setting. maria: this is a really important point that you're making. we we know that the communist party tracks its citizens, and then at the end of the year it gives its citizens a social score. if you smoke, if you do something that the ccp doesn't like, you don't get -- you won't be able to get on a train, your social score will not allow you to get on a plane and leave the country, etc. are you telling me that if i am a customer of goldman sachs' asset management and it's in
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china, all my personal data is going to be sitting there? because i thought that the ccp uses people's data to blackmail and bribe so they can get what they want. >> so it's interesting, i don't think it's a quid pro quo that goldman has to give access to the data, access to the data to the chinese communist party. the chinese communist party's going to require them to keep all their server funds and data in china. so goldman's challenge is going to be encrypting that data as well as they possibly can and hope that the chinese communist party can't get into it. but if you just think about the natural problem that will arise if the ccp comes to goldman and says we want information on maria bartiromo's account, her investments in china, goldman's going to have to turn it over because those are, quote, the laws of china. and so it's the, again, it's just a slippery slope. and all these securities firms, all they really care about are
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the multimillion dollar paychecks, right, for all of their executives and bearngs. and so -- bankers. so they're not tasked with minding the national security of the united states, our government is. so our government needs to looked at these transactions and decide for itself whether or not we should be allowing these kinds of things to happen. maria: yeah. that's a great point. i want to ask you about a potential incoming administration and whether or not they get it, but first let's talk about the something you put on twitter because this is another example of how the chinese communist party is able to get inside an institution to ultimately control those institutions. you posted this photo writing: the chinese have recently purchased over 180,000 acres of texas ranch land near the runway of the u.s.' largest pilot training base for for the air f. i couldn't believe we allowed these purchases under cfius.
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tell me about this. >> yeah. so down near value verde county in texas is one of the most pristine and few remaining wild landscapes in the united states. it's spiritual down there around the devil's river. and the residents around the devil's river and the people that run the conservancy efforts down there were telling me that a chinese businessman, a former pla general, has been acquiring massive stakes in texas land under the auspices of wanting to build wind farms. well, there's not enough sustainable wind down there for wind farms, so that's number one suspect. it's not a wind corridor in texas. the panhandle, the northern part of texas where the wind is. but this pla general is from shin jang, believe it or not, and he runs a company, and his company's name, i'll probably butcher this, is gh america.
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and that company owned two-thirds of the real estate in zinn jang. you and i both know that's where the concentration camps are. and this guy has literally built a runway on the ranch that you see the picture of myself standing in front of the gate on. and that runway can handle an airbus 8380. this is just a few miles from the texas border, and it's in the flight area of laughlin air force base where we do all of our pilot training, the majority of pilot training. it's insane that we allow the chinese, a former chinese pla general to go buy 200 square miles of land in the united states. it's insane. maria: it is. and right there by the military pilots. look, we we know that china now has the largest navy in the world, it's investing in its military. john ratcliffe joined me on sunday to talk about how the
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chinese are trying to encourage congress to make laws that are favorable to china which, ultimately, wants to overtake the united states. here's john ratcliffe. >> yeah, i mean -- maria: you have said the chinese communist party is trying to use black mail to target members of congress. can you tell us more? >> one of the things i worked hard to get at a declassified level was some of the information i see every morning. as i looked at it, it was is so overwhelming related to china that i had to look at the numbers. and what we've learned is that china engages in that activity at a level six times greaterrer than russia, twelve times greater than iran. it's a massive influence campaign, and really what it's intended to do, maria, is influence members of congress to make sure they're passing laws that are favorable for china and not passing laws that are anti-china. and they've been successful.
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maria: kyle, this is one of the reasons that we were reporting on the hunter biden laptop, because all of those stories about a billion and a half dollars given to hunter after he went on air force two with then-vice president biden or, you know, the relationships of the money exchanging between the bank of china and hunter biden, people were worried that the chinese would be able to bribe or blackmail joe biden. do you think this incoming administration gets it? >> you know, i think that the scrutiny on hunter biden's activities and his bhr capital and the relationship they have with the chinese government, the chinese military for that matter is going to -- you heard president biden, president-elect biden's interview this last weekend. he he said that he will not compromise his presidency e and allow new of his family's
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dealings to do so. i believe that the scrutiny is going to force hunter biden maybe to divest of his ownership in bhr and definitely not do business with the chinese government, the i chinese military. i believe that's the case. and, maria, when you look back to, again, back to this idea of a pla general buying land in texas, you know, this is a nonpartisan issue. call it a bipartisan issue. president obama blocked four chinese asset purchases in the united states between 2012-2016 due to the proximity to u.s. military bases. so the chinese have been trying to do this since 2012 and maybe sooner. and whether it's president trump or president-elect biden, i hope that our country's national security will continue to be protected by using things like cfius and all of the other tools that our government has to stop this crazy behavior in allowing these chinese, former chinese
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military officials and chinese citizens to buy huge swaths of land around our sensitive installations ruining like our military -- installations like our military bases. maria: kyle, it's great to have you. please come back soon so we can continue willing this conversation. we will certainly continue putting a spotlight on this. kyle bass, good to see you. >> thank you. maria: coming up, the fight for a free and fair election, trump campaign attorney jenna ellis will join me next. you're watching "mornings with maria" live on fox business. ♪ ♪ ♪ experience the power of sanctuary at the lincoln wish list sales event.
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plus, 0% interest for 48 months on all smart beds. only for a limited time. maria: welcome back. this fox business alert, the food and drug administration releasing new documents this morning acing the pfizer/biontech vaccine provides some protection if after just windows. keep in mind, the full vaccine dose is two shots, two doses. the fda also saying that people who had covid-19 may still be at
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risk for reinfection and could still benefit from the vaccine. the phaser/biontech -- pfizer/biontech vaccine is still awaiting approval, and we are expecting it potentially by the end of this week. okay, let's look at challenging the election results. ted cruz is offering to argue in front of the supreme court on behalf of mike kelly and his case. justice alito set a deadline of 9 a.m. this morning, in about 45 minutes, for state election officials to respond to this lawsuit ahead of today's safe harbor date for electoral college challenges. joining me right now is the attorney for president trump, jenna ellis. jenna, what kind of an impact do you believe senator cruz would have on the supreme court proceedings? i recognize this is not your lawsuit, this is mike kelly's lawsuit, but will this have an impact elsewhere? then i'd like you to walk
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through all of your cases right now and tell us what you feel is the most optimistic. >> yeah. well, good morning, maria. you know, it really is important to note that there are the other people and entities who are bringing lawsuits, not just the trump campaign. so much of the fake news media is trying to frame this as president trump just trying to overturn election results. we don't results right now. we don't have any results until the electoral college actually meets, they vote and then, ultimately, on january 6th is the date when congress actually receives and certifies the vote of the electoral college. is so that's what's important here. and so the supreme court absolutely has enough time to step in, and i think it's incredibly important that mike kelly's suit that ted cruz is weighing in here and saying that he's willing to take up this case and to fight for election integrity is really great. i hope that all republicans will do that. so we also have four lawsuits that are currently pending in wisconsin and in pennsylvania and also in georgia.
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we also have, of course, the hearings that were in four states, and and we're challenging, of course, the results in six states, and we're hoping that between the judicial track and also the state slivat hrisrihari teti,te wetee wl wletetet toooar an aurcceee resul res res f elti iegnttyeg.ntty haria:oououou pnts,s,s,s,s, is t onon vinotinotinotinasasas uon n usbee caabeuma nberbe of s otes weald ml- ml- vin a th e w aolsls cgating tt t t happenedppenppnertainin aas a,, ri t?gh wh tru oruf tasasasnd a ydo foulha o o i ior ?istti tsticnstn ath?th now thatou t teamea w optiopstopnn andcoin thishis ekend.d. on oeonrgiargiaisin. >> yes>>.. and we'retill verptimistic onho two state all th otherthou reallyre this boilbo dow d t d o ing,t' thahahe state election officials changed the rules, they violated the laws in their states, and that is unconstitutional.
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that can't happen. and when you have this much fraud and massive corruption in states that impact hundreds of thousands of votes, that result is you arer redeemably compromised and can't be certified. no american who cares about election integrity, cares about free and fair elections and cares not not kiss enfranchising the will of the american people should want these results to stand. with all of the evidence you've seen, with all of the testimony, with the video in georgia, i mean, these are very, very significant concerns. this is more than enough evidence that you would ever need in a criminal court, for example, for an indictment in a grand jury. i mean, so for the people who are saying there isn't evidence, they're just not willing to look at it. so i i think that wisconsin and georgia, of course, are two of the key states that we're very optimistic with. but i hope that republicans in all of these key states, especially their state legislatures, will actually look at this very seriously, will rise to the challenge and recognize, maria, that there's, you know, there are moments in
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life and in american history that we have the opportunity to be the generation that makes sure to preserve freedom for americans to the next generation. and i hope that these state legislators will recognize this is their time to be courageous patriots and to make sure that they follow through with the constitution's authority that specifically is given to them to protect -- in their state. maria: when we hear from the pennsylvania situation, the supreme court? 9 a.m. deadline, real quick, we only have a couple seconds. >> yeah. i think we'll hear something today, and hopefully by tomorrow or whether or not the supreme court will actually look at this and again, we're very optimist ec. maria: okay. jenna, thank you so much. jenna ellis. we'll be right back. businesses today are looking to tomorrow.
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maria: welcome back. we have breaking news right now on britain's exit from the european union. the u.k. government says it has an agreement in principle on all issues involving its withdrawal from the european union. this is big news. the markets, let's see if the markets have reacted in europe because the european indices have been down throughout the morning this morning. there's also this, new york congresswoman alexandria ocasio-cortez can now add gioia foods employee of the month to her list of accomplishments. he led the charge of criticism against the ceo after he praised president trump back in july. he came on with us last week. she went on after that tweeting this: oh, look, it's the sound of me googling how to make your own adobo. but the ceo would have the last laugh telling the michael barry radio show, quote: when she boycotted us, our sales increased 1,000 president, so we gave her an -- 1,000% honorary
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employee of the month for bringing attention to gioia and our adobo. i spoke with bob about the food success this year, here's what he told us. >> we're the land of the free and the home of the brave, although we're losing our freedom, and we're losing our courage. this year our company has done fantastically well not only in the united states, but in the caribbean and europe. in the beginning of the year, here we are sitting going along, the greatest economy on earth led by president trump, and that's why we're blessed. maria: joining me no -- this morning is dagen mcdowell and jon hilsenrath. dagen, your reaction. >> i think companies need to be careful if they're going to court attention from alexandria ocasio-cortez because it might backfire. i don't know, as her power increases, you might not want her to come after you. but on this morning i would just like to say godspeed and thank
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god that we had brigadier general chuck yeager with us. he died yesterday. he was the first man to break the sound barrier flying the bell x1 aircraft named after his then-wife. he leaves behind his extraordinary legacy. i encourage people to listen to his words and follow in his footsteps in terms of his great achievements in making this country better. maria: all right. coming up, jobs in america. i'll be speaking with the labor secretary, eugene a scalia, stimulus and funding, government shutdown before the end of the week. that's coming up next, stay with us. ♪ one way or another, i'm gonna find ya -- ♪ i'm gonna get ya, get ya, get ya, get ya. to act on his word.
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"comfort ye, comfort my people." especially during this holiday season of hanukkah. when i come here and i sit with lilia i realize what she needs right now is food. these elderly jews are weak and they're sick. they're living on $2 a day this now, is how god's children are living. take this time to send a survival food box to these forgotten jews. the international fellowship of christians and jews urgently need your gift of $25 now to help provide one survival food box with all of the essentials they critically need for their diet for one month. your special holiday gift will provide everything they need to celebrate the miracle of hanukkah. this is the first time in over 70 years that she has anything to do with faith.
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the communists came and wiped it out. and now we're coming to her and saying, "it's okay to have faith." it's okay to light the hanukkah candles. for just $25, you can help supply the essential foods they desperately need for one month. i just want to encourage all of you to join with yael eckstein and the wonderful work of the international fellowship of christians and jews. god tells us to take care of them, to feed the hungry. and i pray holocaust survivors will be given the basic needs that they so desperately pray for to survive.
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maria: welcome back. southern california is still reeling from a record wildfire season. cheryl casone now with more on that. >> it really is, maria. southern california utility
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companies are forced to cut power to tens of thousands as santa ana winds are fanning the flames of a wildfire spreading across ventura county right now. weather conditions also forcing the national weather service to issue red flag warnings if southern california to the bay area through today. that's a rare move for december. wildfires this year accounting for five of the six largest in the state's history, so far it's killed 31 people there. well, another multimillion dollar payday for mouther certain stern -- howard stern, giving the company rights to the show's archives for the next seven years. his current deal is worth an estimated $100 million, the new deal possibly worth $120 million. he joined sirius siriusxm 15 ye. investors like this, up more than 1.5%. that news breaking this morning. and. finally, deign the rock -- duane the rock johnson's new dedethe e keel la are on track
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to sell 300,000 cases in its first year. the actor says this is the biggest launch in industry history. he's putting out, hey, george clooney told casamigas for a billion, and at the time they were producing 175,000 cases a year. back over to you. maria: thank you so much. stimulus negotiations are heating up, apparently. lawmakers from across the aisle trying to hammer out the details on a covid-19 relief bill with a potential government shutdown this upcoming friday. liability protections for business and entities working during a pandemic, one of the key issues in these talks. joining me now is labor secretary eugene scalia. it's always a pleasure to talk with you,ing thank you very much for being here. >> good to be back. maria: what can you tell us about where we are? i know that mitch mcconnell is sticking to his $550 billion plan, and the other side, speaker place city, is -- speaker pelosi, is not giving in on this idea of business
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liability. can you tell us where we are? >> well, maria, let's talk, first, about where we are with jobs. we put out our jobs report on friday, and here we are nearing the end of the year. and you'll remember when we were talking back in march and april, virtually all forecasters were saying we'd be at about 12% unemployment right now, but we're at 6.7% unemployment. remember that five years of the obama administration we were above 6.7% unemployment. we're already at 6.7% unemployment. but actually, that's not even the real number for most states because when you look at this at a state-by-state basis, what you see is that fully half the states are at 6% unemployment or lower. 6 unemployment or lower. in fact, almost half the states now have rolled off eligibility for what we call extended benefits for unemployment.
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so we've made extraordinary progress. we su saw it slowed a bit, i think in part because of the virus coming back, in the report we put out friday. obviously, these from e cautions against the virus that we've been talking about for so long are very important right now, and i urge individual americans to remember that. but economically, we've really come back so well. there's a lot of good news in friday's report too. and i think that's going to be a factor in these stimulus discussions. i think, for example, when you look at all those states with the unemployment at 6% or lower but then you look at new york, 9.3%, california, 9.6% unemployment, that's actually pulled up the national the number. i think some members of congress in statements with much lower unemployment are saying how much money are we going to be asked to send to nancy pelosi's california, to chuck schumerer's new york where they've had more difficulty bringing their
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economies back. maria: you make a really important point, and i love the idea that we're already back to that 6.7% level. that was so stagnant for so long in the prior five years. but let me ask you where the growth is. the november jobs report showed a slowdown of job growth from the previous month even though the unemployment rate ticked down. as you mentioned, perhaps it was the covid cases. do you expect that we are in a bit of a slow moment because we're seeing a spike in cases, we're seeing new efforts at lockdowns? is that what happened? because for a little while i think the progress was up and up and up, and then we did see a slowdown if not a stop because of some of those lockdowns. >> well, maria, we added 344,000 jobs in the private sector. that's a very, very strong month in ordinary times. now, t not as good as -- it's not as good as we had been doing in the months immediately
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before, and we want a quicker pace to put back all the jobs that were lost. but most sectors did grow in november including about 27,000 more jobs in manufacturing, for example. where we saw slowdowns apart from the government sector, a lot of the census workers, is that we had a solution drop in food and beverage places, and that probably is some combination of restrictions in the states and maybe some people pulling away if going out. and then secondly, retail which is such an important sector, had been growing. that took a little bit of a drop too. again, perhaps some miss of people pulling away and restrictions as well. we'll know more when we see those state numbers, and let me underscore again how this is really a state-by-state picture in a lot of ways. we're learning some important things about decisions that are being made in the states, and that will be a factor as we we look at these negotiations. just one last point with respect
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to the unemployment benefits, obviously chuck schumer has asked for that $600 a week benefit going forward. that is not a serious suggestion at all. remember the obama administration, the federal unemployment was $25 a week, and they ended it when unemployment was 9.3% nationally which, coincidentally, is the number in california right now. maria: wow. you know, you said that so well. thank you for articulating this to well, secretary, because it really allows our audience to understand the path, your leadership, president trump's leadership has been critical in all of this and getting us back. how important was the stimulus, and do you think we are going to get more stimulus? even if it's $300 versus the $600 that chuck schumer is asking for. because, you're right, new york -- you seeing people
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leaving new york in droves because of high taxes, because of security worries, because of homelessness. they want to be made whole. so where is this going? >> well, i think, first of all, that that cares package, you mentioned the president's efforts, maria, and you're so right that that package was extremely important. it is part of the reason that we've come back so much faster than from the great recession under obama and biden. i think that more action by congress is needed. i'm hopeful that we will see it. i think targeted relief at particular sectors especially valuable, that's why i continue to like the paycheck protection program which supports businesses and those associated with them. with respect to the $300 a week benefit, again, remember the obama administration benefit was $25 a week. but that $300 a week benefit, very substantial benefit. it would replace about 80% of
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wages for three-quarters of people that are out of work. that's the estimate, which is actually above the wage replacement rate that worker advocates typically promote. so you get a feel for how substantial that benefit would be. so i think there is concern, i mean, the president has been trying to get additional help out since july, as you know. and nancy pelosi obstructed, obstructed, obstructed, and now postelection after, this part, some really substantial losses of house seats, she apparently is ready to come to the table. maria: when would you expect the unemployment rate to drop below 5%, get us almost back to where we were before covid which was 3.5% earlier this year? does that happen early 2021, do you think? >> maria, i think we have to remember, first, just how amazing the economy was before
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covid. and that is our goal. that is a lofty goal, and we have to recognize that. as to when we get to 5%, i think at this rate it is attainable next year because of operation warp speed. and today is an exciting day, england moved quickly in approving the pfizer drug. we'll have important steps taken this week in the u.s. to get that out. moderna's not far behumid. i think this will go down as one of the great a achievements in medical history, how quickly a vaccine was developed. that will change things even further, and i think you combine that with adherence to the kinds of policies this president had which produced that amazing economy, and i think you do get back to 5% next year. maria: yeah, or you're right. secretary, we wanted to ask you about china and a lot of worries about their motive of overtaking the united states.
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i hope you'll come back, and we'll continue that conversation. great to see you this morning, secretary, thank you. >> i'd welcome it. thank you. maria: secretary gene scalia there. coming up, patron spirits founder jen -- jean paul dejoria here. of you're watching "mornings with maria" live on fox business. ♪ ♪ ♪ (teen) mom... it happened again. (vo) add some thrill to your wish list. at the season of audi sales event.
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maria: welcome back. we just spoke with secretary scalia about jobs and the economy. let's talk about business in america. some business owners concerned about changes to income taxes which are coming should joe biden take office in january. joining me right now, john paul mitchell's founder jean paul dejoria. j.p., it's great to see you this morning. let's talk about the potential incoming administration and some of the promises that they've made. joe biden has said he wants to raise taxes by $4.3 trillion. kamala harris, in fact, said the first thing we do when we get in office is we're going to reverse that tax cut plan that the trump administration put in place. another key factor that the trump administration used to really move the needle on economic growth was eliminating lots of regulation and the deregulatory environment may very well also reverse course. give us your sense of all of this and its impact from a
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business owner and a small business impact that you see happening. >> sure. thank you. if they follow through and when biden becomes president, if he does, and they follow through with what they promise, they're going to i eliminate the tax cuts put in place over the last few years, i say look at the last three and a half years of history so you can learn. all of a sudden, when they passed the laws in this administration where if you bring money back to the united states, it's a 0% tax -- 10% tax, and this was money overseas illegally, all of a sudden you only get this break of $10%. well, only a trillion dollars came back to the united states. these companies hired more people, bought more materials which affectedded everybody. and all of a sudden with a very short period of time we're down to 3% unemployment, unheard of in many, many decades in the united states. so apparently things like that do work, the economy went up, people made more money, and the
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middle class when it comes to taxes each saved about $2,500. if it's reversed, it's not just going after those that make the bigger bucks, it's going after the middle class. the middle class immediately lose $2,500. immediately they lose, they all lose it. it taxes everybody. if they come out with some of these other programs where they're going to really increase by the trillionses of dollars what's needed, all of a sudden you've got people that will be taxed in every single area. when a corporation or a small business is overly taxed, they still have to have a return. if it's a corporation and they're public, they've got to have a return for their investors for themselves personally. if all of a sudden the taxes go up on everybody, they still need a return, so what do they do? the they find ways to cut their expenses. they cut people. they cut prosperity for the future by buying more equipment. they're going to be more sensitive about that bottom
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line. this affects everybody in the united states. now, you can't blame 'em because, well, how do we make up for the losses we just had because of the extra taxation that is going on. so as far as that's concerned, i think that they're going to make a big mistake. they should look at the history, how it's really helped our nation out. and if it wasn't for the stupid virus that calm out, unfortunately and it did came out, our economy, i don't know, we'd probably be under 3% unemployment right now. so that's a real boo boo. how does this affect everybody, especially what's going on with the virus? i'd like to present -- if i could. let's take the beauty issue, which you're probably familiar with. when you have many states which have just shut down again, beauty salons, nail salons, skincare esthetician centers, not only have they put those small business owners out of work and out of a job, their employees aren't at work, all the businesses in the neighborhood that focus on them whether it's coffee shops, whether it's restaurants, all
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those businesses aren't getting their business anymore. the vendors that supply them, no more business there to be gotten. all of a sudden you have people losing all the way around. maria: yeah. >> now, why am i giving you this segment? if you talk today into the average beauty, barber salon, beauty school whether it's a paul mitchell school or any school, you walk into the nail salons it's as sanitary as walking into a hospital. i know here in austin, texas, you walk in there, and the minute you walk in, immediately they take your temperature. before you touch a thing, they make you wash your hands. then they sit you down. you've got a plastic shield in front of you. it is so protected. so they're not dealing with the common person's business, they're dealing with what they think is correct. if any of these people that are passing these laws or shutting these things down ever ran a little business, they'll know that these little businesses went ahead and did what they're supposed to do to prevent the spread of the virus, and it's
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working. at the same time, they keep the city hall open and all the big places that have to do with government open where even more of it is the spread. is so i think they should take a look at that again. it's definitely a bad thing. now, what's happened in our industry? a lot of good nail salons, good salons especially, have gone out of business because they can't pay the rent. so they go to the landlord and say, hey, please, give me a break on the rent, give me half the rent, because i want to stay in business. the landlord comes and i says i can't do that because i'm maybe working on a 5 or 10% profit, maybe, and i have to pay all these bills. if i let your rent go in half, am i going to may i -- pay my will bills to the bank? so it affects everybody. they should looking at it, and what i think] they should do in making these decisions, have a few people on their board or a few people on their committee that are actually people that know about it that are in small businesses and let 'em know what we're doing to stop the spread of the virus and, at the same
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time, how you can hurt everyone around us by some of the things you're doing. and they're not doing that. maria: so many important points, j.p., thank you for that. you've laid it out, you've loved this, all these barbershops and nail salons had to follow strict regulations development i and your cofounder lost nearly 60% of revenue from john paul mitchell systems, but you still invested nearly $600 million of your own money to bridge that financial gap. thank you so much, j.p., good to see you. >> america's still working! re-entering data that employees could enter themselves?
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♪ ♪ maria: welcome back. it is time for the morning buzz. first up, a very kardashian christmas not happening this year, the famous family deciding to forgo their annual star-studded christmas party,
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something they've been holding every year for the past 42 years, khloe confirming the pandemic is due to that. dagen, you heart broken? [laughter] >> yeah. i just hope that they take every dime that they would are have spent on clothes and jewelry and edible whatever and give it to charity. they should -- i mean, it took rising covid cases to send the message that they need to cancel the party? come on. [laughter] maria: jon. >> i don't know about you two, but i didn't know the kardashians had an annual christmas party, so i'm really not going to miss that it's over. [laughter] maria: there you go. >> good for them for having the sense to tighten things up a little bit. hopefully, the res of the country can too and, hopefully, 2021 is going to be a better year for everyone. maria: more "mornings with maria" live on fox business right after this.
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maria: welcome back pick a breaking news, coppola now seen the air pod max, the 549-dollar headphones available on order today. there is your morning mover today on apple. that will do it for us. "varney & co.". stuart: good morning. here's what everyone is talking about, a 90-year old british woman who today became the first to receive the pfizer vaccine. we will ask who gets it first here? that may be decided today when the white house holds a vaccine distribution summit. , thursday, the regulators are expected to approve the pfizer vaccine. fda said that it's a effective at the-- after one dose. the first american

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