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tv   Cavuto Coast to Coast  FOX Business  December 28, 2020 12:00pm-2:00pm EST

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territory. all trading above 3/4 of a point or nearby there. jackie deangelis is here to guide you through the next two hours. jackie: thank you, david. we're here. i'm jackie deangelis in for neil cavuto for the next two hours. we're coast coast to coast. on california where a celebrity hot spot is in some hot water for some new year's eve plans. we have details coming up. to nashville where officials are working to find the motive behind the downtown bombing on christmas eve. a live report from nashville this hour. first our top story of the day president trump signing the
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covid relief and spending bills. there is a catch here. he still wants spending slashed. he also wants to make lawmakers vote on bigger stimulus checks. we're talking about the 2000-dollar checks. to fox news correspondent mike emanuel. we have the latest from d.c. good afternoon, mike. reporter: the house is expected to vote late today or perhaps this evening on more covid relief. they are expected to override the president's veto of a 740 billion-dollar defense policy bill. this morning a key house republican said on a 2000-dollar stimulus payment, he wants to see the final price tag of the bill. >> you do have to demonstrate some willingness to disclose offsets. at the very least, shouldn't we know the price tag? isn't speaker pelosi obligated to run this by the wizards at the congressional budget office.
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>> you can't diddle around with the bill. sign the bill, mr. president. then immediately, mon, tuesday, we can pass a 2,000-dollar direct payment for working families of this country. reporter: not main north leader chuck schumer that the house will pass a bill to give americans 2,000-dollar checks. no democrats will object. will senate republicans. i asked a key republican on "fox news sunday" why some on the gop might not support covid relief. >> it is terribly untargeted, right? why would we send people to six figure income, no suspension are no reduction of income at all? reporter: authorizing $2.3 trillion between government funding and covid relief there, is no sign senate republican leadership will want to spend more at this point. the house needs to pass late day. we'll see how the senate ends up
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handling it. jackie. jackie: mike, thank you very much. stocks kicking off the final week of 2020 with new records all on rising hope that relief is on the way to businesses and families is this a santa rally after all? former fed advisor danielle dimartino booth and former portfolio manager jack mcintyre. we'll talk about retail and spending but at the same time when santa stuffs your stocking with stimulus checks that definitely gets market excited. >> it definitely does, jackie. instead after fiscal cliff heading into 2021, we'll see a one week delay for many american families who are barely holding on, we'll see the one week delay, this will not be a massive cliff that we go over. we don't have to worry about the awful optics of evicting people in the middle of january.
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there is tremendous sigh of relief we're hearing across wall street and main street america as there are some small businesses now will be able to say, hey, employers, we'll be able to keep you on. we'll get you through this next rough patch where we hopefully get vaccines disseminated throughout the economy. we're able to open up and have business flow more freely as we head into 2021 with what i'm hoping is some great tiedings of comfort and joy. jackie: jack that is interesting. danielle brings up all the great points. we've mad such a rough year when it comes to the country, to the coronavirus pandemic to small businesses this provides relief. you heard the clip in mike emanuel's report, there are those republicans who are really worried how we find the money to pay for this. at some point you have to pay the piper, right? >> you're absolutely right. as yet that question is interesting. when you look at equity markets, wow, it hasn't been a bad year.
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it has been a fantastic year for equities. there is big digs connect between the equity equity markets and the economy. the stimulus, $600 is enough. we need to move on. create less uncertainty. we are doing that. that sets a pretty good stage for risk assets next year. don't look for a repeat next year. markets are forward-looking. they probably already discounted this in the equity markets. jackie: i worry about thats with we go into next year, danielle, we're setting ourselves with such strong stock markets for a potential fall. new incoming administration, new different policies, tax policies, that will certainly have an impact. you have to ask yourself once this starts going in motion, once gears start turning, are investors going to change their tune? with some of this runup, just because interest rates are so low, investors don't have anywhere else to put their money.
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>> that's right. it's there are literally no options left. we know valuations, look back to data, 1881 valuation of s&p 500 are the in 99th percentile. extraordinary times we lived in. everything priced into the market has been priced into the market. to your point there is a massive change in washington, d.c. we have only extra 10 weeks of unemployment benefits will being extended. the incoming administration depends what happens in georgia. i say that in every single sentence, i say depending what happens in george fa. the incoming minute station will have to move quickly. eviction moratorium runs out january 31st. we're talking about a month. to gop senators, to the points before, there is no reason to blanket the country with a bun. of extra cash. we need for people in congress come up with targeted relief where it is needed.
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not waste taxpayers money because you want to send money to everybody. not everybody needs it. 93% of americans at work today. that is a great thing. you don't want to throw too much taxpayer money at it. as an investor you have to be aware how high valuations are. jackie: jack, final question to you, danielle brings up a great point about georgia. we'll talk about later in the show. there is a lot resting on the state with respect to split government. the market is rallying because it priced in a outcome for the runoffs. >> you're absolutely right. you look at predictive markets, betting markets say, right now they're leaning towards republican controlling the senate. when we make our investment decisions, that is the assumption we're making right now. certainly january 5th or it might drag on a couple of days, we could see a lot more volatility if that base case scenario changes.
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if democrats end up controlling the senate. i think it is a low probability but it is certainly possible. jackie: danielle, jack, thank you so much. if i don't see you, happy new year. we'll talk in 2021. billions of of course in ppp loans are soon on the way to struggling businesses across the united states but with southern california likely facing an extended lockdown and new york under constant threat of a shutdown, utah congressman elect burgess owens is ready to fight for small business when he gets to washington. he joins me now. congressman-elect, wonderful to see you. small businesses have been struggling and pummeled this entire year as a result of the pandemic. while the stimulus will certainly help they won't be out of the woods just yet. what else needs to be done? >> jackie, first of all thanks for inviting me on. first we need to really understand the power of the small business. where that fits in, why it is so important for our country. talking about fighting for the
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soul of our nation. coming down small businesses power the middle class. our middle class is at risk at this point being attacked. i seen it happen before. happened to my community growing up in the '60s, flipped things upside down strong middle class, 40% of business ownership, now to 3.%. we need to become very educate what we're fighting against. we're fighting against ideologies that is going after those who produce our great culture and if we don't understand that, we're going to lose this fight. this is going to be a good educational process for us this year. democrats businesses look at their businesses fighting and being attack and move forward. jackie: there is an issue of lockdowns. we know the vaccine is on the way. it will take a while before it is widely distributed. we have to be patient to wait for that. we're in the peak, if you will of the expected second wave. you have so many democratic lawmakers saying we need to continue the lockdowns.
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we need to continue shutdowns. we need to reinstitute them. there are small businesses out there, i believe the status is something over 60% of them, if they shut down once during the pandemic they will go away forever. >> keep in mind the national, big businesses, they're shutting down those that really do need this opportunity to come out. again, i can't emphasize enough. this is our time to really have this conversation. should we be fighting for the rights of life, liberty, pursue of happiness. happiness was talked about as property, to own property, have a legacy. we have democratic states, democratic mayors, find a new power going crazy wit. we'll have to have a conversation what does it mean for us to fight for our culture. our culture is life, liberty, you suit of happiness to, have a business to have someone dictate we're non-essential. if nfl, nba, amazon can be essential so small mom-and-pop businesses wake up every day to
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keep customers safe. we need to get back to basics my friend, companies are built on true heroes, get up take a risk and buildout a great middle class. jackie: congressman-elect, great to see you. thanks so much for your insight today. >> thank you, jackie. jackie: we'll keep you with us. i apologize we'll talk about georgia and i want to get your take on that before you go. >> okay. jackie: you're saying that you're confident georgia voters will do the right thing, reelect senator kelly loeffler and david perdue but the question is, what makes you so sure? because with early voting seeing more than two million people casting ballots early, whether by mail or in person and that didn't bode so well for president trump in the last election. so when you're looking at this race, how exactly are you putting the picture together. >> i'm looking at very simply i have faith in the american people. i really, i can't say that enough. we have polls out there but the american people drift towards the light. we now understand, everything is
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focused on georgia. i believe there is a coming, we'll look back, georgia stood up, they understood what we're after, they will make the right choice. we need to make sure we hold on the senate against a firewall hard left marxism. i have faith in the american people, i have faith in georgians, that we'll come out of this in a good way to fight the fight for number of years. jackie: a record amount of funds has been spent because it is important for both sides to be victorious. the balance of power within the united states essentially lies in georgia's hands. $468 million combined on both sides for ad revenue, gives you a sense how much they want it, right. >> it is the biggest, biggest moment of our country's future, really is. because the senate will dictate whether we go hard left or we stay the course of this conservative all american values we have. so i can't emphasize that enough. that is why again the left put a
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lot of money into it. i spent time with some freshmen coming in with ted cruz last week doing a bus tour. we do understand this is truly, this is our line. we need to draw the line. fight against the left. this is the way we do it getting our two senators in place, move this thing forward, then fight against whatever, if biden ends you coming in we need a strong team to five against the policies they will be trying to make changes with. jackie: congressman-elect, now you are officially off the hook. thank you so much. >> thank you, jackie. all the best. jackie: fox business is going to have live special coverage of the georgia senate runoff election. neil will begin the coverage seven p.m. eastern time on january 5th. make sure you tune in. meantime federal officials trying to determine what provoked a man to set off a bomb in downtown nashville on christmas day. the latest what officials learn about the suspect after the break.
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i immediately got up and i just assisted the best i could with keeping people back. >> i was trying to make sure all our people were okay, going from there, trying to figure out what was the best course of action. jackie: voices on the ground in nashville. the man behind the bombing in downtown nashville has been identified by police but the motive remains a mystery. fox news reporter charles watson is in nashville with the latest other than the investigation. charles? reporter: jackie, i'll tell you there are a certainly a lot of unanswered questions about the massive christmas day explosion here in nashville, including why it happened. federal officials are building woulding together to piece together a motive as the investigation moves at a rapid pace. authorities identifying 63-year-old anthony quinn warner as the suspect who officials say intentionally blew up his rv in the downtown area.
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identification number on the rv helped lead the fbi and atf to the antioch, tennessee, a suburb south of nash vilt. they were able to match warner's dna with human remains. >> we were able to have a known sample. then collect items from the suspect from some relatives as well. reporter: today six nashville police officers are being hailed as heroes. the officers putting their lives on the line to get residents away from the rv moments before it exploded. listen. >> i literally hear a guy to tell me to turn around. as i turn around, to me it felt like i only took three steps, the music stopped. i'm walking back towards toppin i see orange. i hear a lot boom. reporter: the explosion causing some serious damage to at least 41 build national the area.
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mayor john cooper said an at&t data center may have been a target. investigators say they will continue to looking into a number of leads. they're asking the public to contact the fbi, particularly if they have any information about warner. jackie? jackie: charles, thank you so much for that report. what a devastating incident on christmas day. officials saying that the nashville bomber appears to have worked alone but the attack is raising fresh concerns about the security of infrastructure across the entire country. former fbi investigator bill daley is here with us with more why the blast is exposing a weak link. bill, i want to ask you about this specifically, this incident. how are investigators going to try to piece together the evidence to figure out what that motive was, what really happened here? >> well, jackie, it will take place on a number of different aspects. right now they're looking thoroughly at his background both from his digital footprints if there is any, as well as purchases he spoke to in the past, who he may have worked
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with. family members, coworkers, neighbors, they will help put together a bit more of the man as to focus what may have been his motive and took him to this christmas day tragedy. i would say, however, one of the things also as important as the motive is also understanding how he may have been able to procure the explosive materials, whatever they may be. right now law enforcement are not telling us what they think it may be but it is very important to understand how he may have accumulated this, where it was stored, how they have access to it. there is some suggestion that early on in his previous career, he had an explosive permit for whatever reason, absent some type of construction or industrial capacity, we don't know. all those things are very important. of the important for us to know going forward, what other vulnerabilities are out there in our system for people who may be looking to acquire explosive materials. then use them against us. jackie: oh, absolutely.
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the assumption right now that the suspect, anthony warner acted alone. it sounds like what you're describing to me is a complicated operation. it's possible to have procured the materials and done it alone but i'm wondering if based on what we know so far you think maybe there were more people involved here? >> well, not necessarily. i'm not suggesting more people were involved. i'm just suggesting you know, as we've seen in past incidents that people may have seen some movements, some behaviors, some patterns that warner exhibited and it is important that those things come to the forefront to police and intelligence authorities. you know there is a program the fbi has called the guardian program. we're trying to gather as much information as they can about people they think are perhaps of concern with regard to terrorism. but it is only as good as information fed into it. so i right know after the incident there were reports of 500, kind of calls in with tips
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and leads, whether or not all those were substantive i don't know but if there were any people said, by the way i thought that, i saw his behavior and he is seems to be doing something or said something, those are things you need to know ahead of time. that is when a system like the fbi guardian program and other tell fence systems are important we get information ahead of time. jackie: bill, we're having this conversation, we witnessed in tragedy at a time so many people are calling for movements to defund the police. you heard voices of the police on the ground there, the first-responders which emphasizes how important it is to have people on the ball, on the ground, to be able to help, right? >> oh, absolutely. you know, i think if anything, it is evident as why we need to maintain funding and look at ways to increase the funding in certain areas, particularly in protecting our safety with regard to domestic or international terrorists is evident by this look at behavior
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by the police. very quick and keen behavior that took place not just out of coincidence. these are trained officers who were very fortunate in this country, that we have training standards. constantly looked at. we need to continue to look at those. the fbi has a national academy where they train law enforcement. this goes to us being much more prepared society for those threats both domestic and foreign. jackie: absolutely. bill dailey, thank you very much for that. >> good to be with you. jackie: we're looking at one new york business owner begging officials for a concrete reopening plan as he face as 100,000-dollar lawsuit from his landlord. that business owner coming up next ♪ ♪ ♪
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caught trying to defy strict covid-19 orders. officials say the business was handing out invites to a secret new year's eve party. fox news correspondent william la jeunesse has details from los angeles. william. reporter: their first mistake to call eight secret, right. that means you have to tell everybody. secondly they put it in writing. thirdly, not like this restaurant personally knows everybody who gets take-out yet that is where la scala dropped this invite inside take-out bag to the illegal party. quote, we are considering taking reservations for a new year's eve dinner inside. if this is something you would be interested in please let us know as soon as possible. if there is enough interest we'll contact you back to secure reservation. please keep this discrete but tell all your friends. well people did, including the city of beverly hills which told the restaurant, don't think about it. not going to happen. it also angered other restaurants closed because of covid that la scala was
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cheating. one word dig it out on social media they had a field day roasting the restaurant. this becomes as california becomes the first state to exceed two million covid cases jumping 20% in a single day to 19,000 in the hospital. on average one covid patient is dying every ten minutes in l.a. county. that was as of friday. the stay at home other that was supposed to expire today, jackie, is likely to be continued indefinitely. jackie: we'll, we'll be watching. that probably not only business looking for underground party as they are trying to stay open. thank you for that report. small businesses are still under siege here in new york even as some businesses struggle to survive with restrictions. a musement parks have been shut down for months. one park owner is facing a potential lawsuit from his landlord. we have safari adventure owner.
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antonio, briefly describe what the lawsuit is about. tell me about the struggles you've seen throughout the year. >> sure, so july 4th, july 8th, there was phase four. we were trying to get caught up with rent for one of our landlords. he is struggling as well. we sent him 10 of thousandsdove lars unforgivable. only a certain%age is forgivable with a ppp loan. we were kept shut, expected to be open, to catch up with the rent. we're on to december. we've not been able to pay rent since. we've received multiple letters informing us he will file a lawsuit if we do not comply and get caught up but we can't just go dig up $100,000 to get caught up. jackie: that is a lot of money. as you said the ppp has
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restrictions. it necessarily can't all be used for rent. this is a problem we're hering hearing about a lot. landlords have to pay mortgages. you guys are struggling. frankly there is no business. you don't know when the end is in sight. >> no. that is one of the biggest issues. we've been asking for guidance almost a year, if you think about it, 10 months with no luck. we attempted to open in october safely, very safely. we have a whole binder for reopening. it was listed that we could reopen on the new york forward website under our tax code. but within weeks we had consumer affairs official come with a fire marshal, serve all 3:00 locations a cease and desist letter with a threat of $15,000 per day if we did not comply. obviously we had no churches. we had to shut down after opening 2 1/2 weeks. so no guidance whatsoever. we emailed constantly. county, state, nothing from the officials. senators, congress, we pushed up
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ladder. comes down to governor cuomo. it is his decision. and we cannot get one from him. jackie: daniel, what happens next to your business? how much longer could you possibly survive like this? i'm looking at the timeline, they're not talking about vaccines to the general public until maybe mid 2021. can you make it that long? >> so it is going to be heavily dependent on two factors. our landlords and our lenders. and two of the three landlords have been phenomenal with our relationship. the third one is putting some pressure, rightfully so. he has the right to do that. he is struggling himself maybe. so i can't hold that against him. the other factor is the lenders and we have great relationships with our lenders and they are willing to work with us and get us through as long as we need to from my understanding. so if all stays in that sense, if it all goes that way, then, yes i think we can get through mid 2021. i hope not.
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it should be earlier than that but that is besides the point. jackie: we wish you the best of luck. we heard so many stories, small businesses just like yours struggling because of the lockdowns, just looking at the road ahead, hoping there is a light at the end of the tunnel. we would love to have you back on to talk about. wish you luck. >> thanks for the opportunity. jackie: could the coronavirus fallout cause the u.s. to fall behind china as an economic leader? why a new report raising some concerns coming up next. ♪. ♪ ♪ ♪ smooth driving pays off. ♪ with allstate, the safer you drive the more you save. ♪
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♪. jackie: welcome back, everybody. president-elect joe biden is pledging to create millions of new jobs for unionized workers with most unions mandating payroll deductions of union fees. who benefits most and which industries would be most threatened by the change in terms? the one and only hillary vaughn
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in wilmington, delaware with the details. hillary. reporter: hi, jackie. well it would be major changes for workers across the country but also companies in 27 different states with right to work laws because as president joe biden has promised to work to reverse right to work laws in those 27 states but also withhold federal contracts from companies that don't offer their employees the option to unionize. promising only u.s. companies where workers have a choice to join the union should benefit from federal contracts and build american american infrastructure, including participating in biden's 2 trillion-dollar plan to build up green energy jobs but right now only 10% of the u.s. workforce is part of a union. biden's campaign credits the billions of dollars he says companies spend on anti-union consultants for a steady decline in union membership but unions have also been busy spending their own millions lobbying in elections to try to boost their
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union membership. biden wants to help them do that by doing the following as president. insuring federal contracts only go to employers who don't oppose unions. reverse right to work laws. allow federal government workers to unionize and change antitrust laws to allow independent contractors and gig workers to unionize. these changes could sideline some workers in 27 states with right to work laws. biden says this about those laws, these laws exist only to deprive unions of financial support they need to fight for higher wages and better benefits. right to worked a very cats disagree. it is key for thriving job market citing government labor statistics nine of the top 10 states with the highest enemployment growth in the u.s. in the last decade are in right-to-work states. mark mix with the national right to work committee says quote, if the totally elimination of right to work plan is adopted by joe biden, that will be devastating
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loss for personal freedom foreworkers and a shipwreck for the u.s. economy but part of biden's plan to hold company executives not only financially accountable if they consider interfere with a workers right to unionize but also criminally liable as well. jackie: hillary, thank you so much for that. the president-elect when he was running he promised he would support the unions. it appears he is doing that. there is a lot of criticism about it. a lot of people say you need to focus on job creation here. that is what president trump was trying to do. we'll be watching closely. thank you for that report. meantime a new report from the center for economics business research now predicting that china will overtake the united states to become the world's biggest economy by 2028 due to covid-19 pandemic. our china analyst gordon chang. gordon, great to see you. since we opened our doors to trading with china some 70 years
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ago if you will china has been on a quest to overtake the united states as the world's greatest economy. now wouldn't you know it post-pandemic it appears it will happen. these are all interesting circumstances to say the least? >> yes, well, first of all i'm not so so sure that will happen by 2028 if ever. first of all we got to remember this think tank report is based upon china's superior response to the coronavirus. of course we're all moved by the pictures in wuhan, the epicenter of people celebrating but we've got to remember also that in wuhan, just one statistic show you how weak consumption is, in the golden week holiday which began in october wuhan was the number one tourist destination in all of china but tourism revenue in wuhan fell. these are official numbers, by 30%. for the country as a whole, even though golden week was one day longer than it was in 2019,
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tourism revenue for the whole country also fell by 30% and that shows you the chinese economy hasn't recovered and that china actually doesn't have a superior response to the coronavirus at all. jackie: it is interesting, when you look at their response versus our response you are saying china has taken a huge hit here, there is no denying that, but certainly seems more pervasive clickly the hit was larger here in the united states. some people questioning china's response to this. they knew enough to hockdown internal boundaries and borders to contain the virus, yet they let people travel outside of the borders to other countries. there are those who say on a good day china was lying about its economic numbers anyway. the decline in the economy was imminent whether there was a virus or not a virus and that china wanted to in some senses possibly level the playing field globally when it comes to
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economics at this moment in time? >> well you know we look at the gross numbers for china. so for instance, yes, they are net exports are up this year because of various factors and also the government is pouring a lot of stimulus into the economy but the core of the chinese economy beijing says is consumption and consumption is weak. even by china's inflated retail sales number, retail sales for the first 11 months of this year were down 4.9% year on year. when you look at bellwether car sales for the first 11 months, they were down 2.9%. the consumer price index in november fell 0.5%. these are not numbers showing a healthy economy by any means, jackie. jackie: i want to also talk about what we've seen in wuhan. a chinese citizen journalist who exposed the initial chaos of wuhan's covid-19 response jailed for four years. your reaction to that?
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>> yeah. this is really tragic because john, that citizen journalist is the first of the citizen journalists to be imprisoned or sentenced. we know there are others out there. there was an extraordinarily attempt on part of the communist party especially the end of january to suppress information about china's response to the coronavirus. the communist party's task force on the coronavirus, initially nine people, only one of them was a public health official. the rest were either party hack or propaganda workers as they say. that tells you china's number one priority was controlling the narrative, not stopping the disease. china has done a pretty good job stopping the disease but the information we're getting corresponds and supports the chinese narrative and therefore it is suspect. jackie: real quick, gordon, president trump took a very tough stance on china. even now president-elect biden
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when he was campaigning said he will do the same. will he actually follow through it? >> every new president gave china a grace period. trump gave them 14 months. biden will give them much longer, but as he said he doesn't think china is competition for us. this doesn't look good for the american people. jackie: gordon, thank you very much. >> thanks, jackie. jackie: 2000-dollar stimulus checks still in play if president trump has his way. the chance you could see more stimulus relief coming up. ♪. medicine cabinet! less sick days! cold coming on? zicam® is clinically proven to shorten colds! highly recommend it! zifans love zicam's unique zinc formula. it shortens colds! zicam zinc that cold! it shortens colds! new projects means you need to hire.gers. i need indeed. indeed you do. the moment you sponsor a job on indeed you get a short list of quality candidates from our resume database. claim your seventy five dollar credit,
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you got this. so you can really promise better sleep? not promise. ...prove. don't miss our new year's special, save up to $1000 on new sleep number 360 smart beds. plus, no interest until january 2024 on all smart beds. only for a limited time. ♪. jackie: the uk has a brexit deal but now the country has to deal with what that means for trade agreements and also regulations. benjamin hall in london with how they move forward from here. benjamin. >> jackie, four 1/2 years ago that the uk voted to leave the eu it was a four days before the transition period of was due to come to an end when eu ambassadors met earlier to agree unanimously when it met to sign the deal agreed on christmas eve. what it means both sides avoid ad hard brexit, the cliff edge. what they have is a vast free trade deal. no tariffs, no quotas, free access to each other's market, even though britain is outside
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of the single eu market and customs division. boris johnson said any disruption for customs paperwork at the borders will be worth it. the uk can strike deals around the world. it is no longer beholden to eu courts and no longer subject to immigration. there is complicated arbitration process now in place to insure both sides, the eu and the u.k. adhere to a level playing field on rules and regulation so the uk doesn't undercut the eu in the future. the deal is also angered british fisherman that the uk government promised. they will up a quarter of first quarter but the british fishermen demanded 80%. it is considered a formality will ratify the deal. all that remains after january the 31st, december 31st,
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is for the uk to move ahead of outside of the eu. jackie? jackie: benjamin thank you so much for that. there are still concerns there may be disruptions and some businesses will need more time to be able to absorb all of these new rules. we'll be watching very closely in 2021. happy new year to you. >> and to you. jackie: the oil industry of course is written down about $145 billion in assets this year amid an unprecedented downturn and long-term questions of course about oil prices. the price futures group senior analyst phil flynn whether 2021 will bring more answers for the oil industry. phil, this has been a rough year for energy companies. oil prices are just under 50. they're elevated because of a lack of supply. the issue is the stall in demand. >> you're right about that. i mean it was unprecedented what we saw. the ol' saying was, jackie, you and i know, it felt like it
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would go below zero. it can and it did last year. >> we saw it. >> i know. what is that? that was impossible but guess what? what was impossible was possibility. we're seeing record writedowns. the good news about that 2021 has got to get better, right? i'll tell you this oil companies are very serious about these write-downs. they don't want to see this again in the future. there was a stark warning from the cfo of chevron who basically talked about the huge writeoff that the company had to talk by writing off their entire venezuelan oil investment, writing it off basically to zero. kind of suggesting, guys, we should have saw that coming. but i think that is a sign that energy companies in the new year will be a lot more of diligent in looking at projects. that probably means a lot less investment and higher prices as well. jackie: if you're an investor in energy companies should you be worried about share prices if
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you hold corporate bonds, should you be worried about possible default? >> bankruptcies? there is always that possibility but smaller companies you want to look at the balance sheets. i think if you stick to the oil majors you will be in pretty good shape. if you're worried about that move to exxon and chevron. they're set up for a really good comeback in the new year. we expect a lot of deman coming back in the new year once we get past the covid-19, we get some of that out. we'll see that. we're already seeing parts of the world demand coming back in a big way. if you look at china and india, they're well ahead of the curve when it comes to energy demand. if the rest of the world follows, the second half of the year, we could be looking at energy prices a lot higher. it might be easier for some of these companies to make a living. jackie: well the pandemic has certainly been one piece of this story, phil, but as we go into 2021 with a new administration
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coming in really wanting to focus on clean energy albeit fine over time it doesn't bode well for these companies. there is part of me that looked at this industry for a long time and said if these ceos are not worried about this, if it is not keeping them up at night i would be surprised. >> they are worried about it. they have already made adjustments. energy companies talking about life beyond oil. they're trying to look at ways to get to net zero emissions in the future. to be honest with i think new regulations in weird way will be good for energy companies. let's face it, the more regulations they put on the industry, higher prices they will go, less supply there will be. why we have these big ambitions to get off of oil in the near term i think that there is going to be a lot of problems doing that in the real world. jackie: that is one way to look at it that is positive. another way to look at it was
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president trump trying to do, roll back the regulations, pump our own oil and consumers don't have to rely on foreign oil. >> those days are over. when you talk about joe biden he is for higher prices. he may not say that, everything he will talk about will raise the price of gasoline, raise the price of oil. some of the oil companies will do better, other companies will take advantage of the new regulation. opec -- will enjoy higher prices. jackie: thanks so much, phil. great to see you. good points. coming up the season for returns. stores coming up for postholiday season of returns after many americans opted for online shopping this year. we have details after this break
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jackie: welcome back to hour two of "coast to coast." i'm jackie deangelis in for neil cavuto today. our top story, stimulus relief on the way and that has stocks on the way up. susan li is here with today's market headlines. susan: happy holidays, that's right. the santa claus rally continues after president trump signed the $900 billion stimulus bill last night, so that means $600 checks will go out to most americans. also, you get aid for small
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business as well as help for industries like airlines. take a look at the big five tech names that have powered the incredible rally this year. they are finishing off 2020 like they have dominated all year long. apple, amazon, facebook, google and microsoft making up more than half of the 16% rally that we've seen so far this year for the s&p. now, it's not just stocks that wall street is bullish on. check out bitcoin, what we call the new gold, powering past $28,000 last night. that's the highest in history and it's up nearly 300% this year. it's also on the longest and the strongest monthly winning streak since last year. we have experts now calling $30,000 just around the corner, but once we cross that mark, one analyst says we will likely see a pull-back and maybe 10% to 15%, which by the way, might be a good entry point for what would be bitcoin traders. yes, this time is different from 2017, with more mainstream adoption on paypal, square,
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robinhood and not just fringe trading out in silicon valley. finally, we could get another vaccine approved this week and rolled out next week. oxford university and astrazeneca say they will likely get uk approval for its covid vaccine which is as effective as pfizer's and moderna's, nearly 100%. the uk government has already ordered 100 million doses of this two-shot vaccine and we could have as many as six vaccines approved by the first half of next year and hopefully that includes a one-shot johnson & johnson vaccine which we know is still testing, and still needs approval, but they say light at the end of the tunnel, right? jackie: absolutely. we will surely be watching tech, we will be watching pharma and bitcoin. even if there's a pull-back, lot to watch there to get into trading bitcoin. meantime, we are also watching congress because it will be voting today on whether to increase stimulus checks from $600 to $2,000 per person, with
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president trump still pushing them to make it happen. but what are the chances of that actually passing? to hill correspondent reed wilson. the big question i have, what i want to focus on here, is the president isn't just saying raise the stimulus check threshold to $2,000 from $600. he's saying do that for american people, but you have to cut the wasteful spending as well. nancy pelosi isn't necessarily on the same page. >> right. this is the wasteful spending you cited is all money the trump administration itself requested, whether it's money for foreign governments or in foreign assistance, or other programs like that. this is money that the trump administration itself requested and now president trump put out a statement last night in which he said that congress was making the moves to take this money out of the bill. that wasn't true. there are no serious moves in congress on capitol hill to get that money out of the bill that has already been passed and
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signed into law. so what you can expect today is house democrats are going to force this vote on raising the stimulus check to $2,000 per individual, or $4,000 per family. it requires two-thirds of the vote to pass and they are probably not going to get that because republicans are starting to hold the line and cite spending and the rising deficit again. so this is more of sort of political theater than it is serious legislating at the end of the year. jackie: interesting. we're also watching president-elect joe biden because after this package is passed and pushed through, we know we are not through, you know, the end of the pandemic just yet. we're not really looking until seeing the vaccines being distributed widely until maybe mid-year. we are still dealing with shutdowns and lockdowns as well and the president-elect has said when he comes into office, that he will take this issue up again and look at more passage of stimulus. >> yeah. you can imagine this is going to be the top priority on soon-to-be president joe biden's to-do list. there is basically, you can't
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solve an economic problem or any other problem he's going to face until you solve the health crisis that has infected so many millions of americans and killed hundreds of thousands. so this is going to be a top priority. i point out, by the way, that joe biden was the guy who was in charge of the recovery act under the obama administration and he was also his chief of staff was president obama's ebola czar so this is an area in which biden and his staff have a significant amount of experience and it's just going to be so hugely important because this virus so dominates our lives right now. jackie: it does dominate our lives but we are also talking about spending in trillion dollar clips here, and one of the big questions at the end of the day is when this is all said and done, who is going to pay for it. >> yeah. well, i would point out that interest rates are near record lows. the amount of money the federal government pays to service the debt it already has has fallen substantially as interest rates have gone down. the low interest rates have been great for the american budget. if there is a time to borrow,
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the biden administration is going to make the case that now is that time. jackie: great to see you. thank you so much. >> thank you. jackie: all right. the rush to return christmas gifts is on. i may have a few on my list. of course, there are retailers that are rolling out new ways to handle the crowds amid the pandemic. kristina partsinevelos in new york city with more. tell me about the returns. kristina: well, this could be a record year for holiday returns and that's because we have all been shopping online, and retailers are trying to streamline the process and mitigate any crowds. this is herald square, not that busy for a monday filled with discounts. what we know so far, according to mastercard, online sales jumped this year almost 50% but when you account for a major drop in in-store traffic, we are seeing sales, retail sales for this holiday period up only about 3%, but the national retail federation predicts that you and i and everybody that's received at least ten gifts will be returning at least one gift
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out of that ten. that's because many of us couldn't touch the clothes in stores. that's a whopping potential $70 billion expected to be returned to retailers which is why they are trying to fix the process. starting with walmart, walmart is working with fed ex. fed ex will come and pick up the returned item from your home, then you have amazon that is stepping up, not just saying you can return it at several whole food locations, up to 500 items. you also have dick's sporting goods that is doing curbside returns. i just found out, you want to return an online item, you have to send it back online and pay seven bucks. we know retailers as well as shipping companies were scrambling to get those holiday gifts to you on time for christmas, and now they are faced with the brutal season of unwanted goods that are heading their way. back to you. jackie: i am so not into the return shipping at all. that is a buzzkill. kristina: neither am i.
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total buzzkill, especially when you have to pay. jackie: exactly. good to see you. thank you so much for that report. betting on work from home for the long lahaul, consumer brands investigating new products aimed at aiding remote workers post-pandemic. to capitalist pig hedge fund manager jonathan hoenig. i see it with so many friends working in so many different industries, we have accelerated the work at home trend because of the pandemic and i really have to question how many people will actually go back to an office when they can. >> yeah, absolutely. happy new year to all of our viewers around the world. look, this was a trend as you said in place before covid hit. covid has just blown the doors off this trend and exacerbated it in so many ways. it has such far-reaching ramifications, from a technology company itself, you mentioned some of the big tech names, zoom has been a monster stock, transformative stock this year. all the way down to commercial real estate which would change
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iv inevitably as more companies opt to keep workers at home for longer periods of time and use their space for more meetings, special events, marketing opportunities. the days of mass numbers of employees coming to city centers, those days are over and you are seeing it in a lot of the migration away from city centers like chicago, where i am, like new york, where you are as well. jackie: i think it's stroeo interesting because when this happened, the question was about productivity, right, would employees still be doing their best from home. i mean, they are saving money, saving commuting time, and some people say they are even working harder out of the house than they were in the office as a result of some of those extra time restraints placed on them and at the same time, you've got companies saying i could have less office space, less overhead in a building, less insurance costs, that kind of thing. it seems like a win/win to a certain extent unless you have to, like me, for example, be in a studio to do your job, and even my colleagues have proven they don't have to be. >> yeah.
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there will be a transformation have to have been made and you know, you might see, for example, a company cut down on their physical location, physical facilities. perhaps there will be more amenities for example, like giving work at home employees better gym memberships, better incentives to stay active. the same type of challenges that employees had when, for example, cell phones just came into existence, there was that question of maintaining the work/life balance. we have seen the same thing this year. employees are not only on call 24 hours a day, but literally on camera 24 hours a day oftentimes for those employees. we have a lot to thank this year, the big tech companies, for allowing us to work from home but we have to find a new normal of the work/life balance as employers essentially demand you are always on in the new tech environment. jackie: think a couple steps ahead for me because there have been so many changes as a result of work at home. i will give you just one anecdotal one. for example, dry cleaning,
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right? you mentioned working at home, people are wearing, you know, more worried about the top up, not necessarily wearing suits or dresses or whatever they would normally be dry cleaning and these businesses are suffering. what happens as we see this dynamic shift and we see sort of the way we are doing business change to the rest of like the trickle down effect? >> yeah. you mentioned dry cleaners have suffered. think about brooks brothers. this is the year you saw brooks brothers, the hundred plus year outfitter for business, wall street, for presidents, that company went bankrupt, exacerbated exactly because of the trend we are talking about, this work from home, less of a need to get dressed up. trying to look forward, trying to look long-term, my hope is that inevitably and ultimately we return to normal. after 9/11, not to compare anything to 9/11, but after 9/11, people said they will never build tall buildings in new york city again. ultimately we did and a lot of
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the stock market rally i know has been exacerbated, been fueled by the promise of these vaccines. my hope is that maybe not 2021, but certainly in 2022, we are going to start to see people dressing up again, wearing makeup again -- jackie: i hope so. >> and life getting back to normal as we know it. jackie: let me ask you this. if you are an investor positioning for 2021 and looking at these shifts and trends, do you still continue to buy tech even with the runup it's had? that would be the story that would propel us forward as you would shift out of some of the more traditional sectors. >> yeah. the momentum has been really just unbelievable. look at today, jackie. 277 new stocks at 52-week highs, only about seven stocks at 52-week lows. it's been like that basically since the election. 86% of stocks are above their 200 day moving average. in any other market you would say that's overbought but it's exactly those names, amazon, facebook, apples of the world, they are powering the market forward and there's been no success in stepping ahead of that freight train.
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there's no indication just yet that that trend's going to continue in 2021 but again, i think back to the late 1990s, we started off 2000 with a bang. it wasn't until march of 2000 that the market ultimately cut us off. 2020 was a ride. 2021 will be even more volatile. stay tuned. jackie: jonathan, see you in just a little bit. stick with us. meantime, businesses already struggling because of the pandemic, now devastated all ov over. the damage done and the road to recovery, coming up.
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it was a huge explosion. i hope the media is not ignoring the enormity of this. this was a big explosion and it left a massive amount of damage. jackie: dozens of stores and restaurants already reeling from covid restrictions now facing serious damage after the nashville christmas explosion. old spaghetti factory was one of the many businesses take was destroyed. dean griffith, the president of old spaghetti factory in nashville, joins us now. dean, the gentleman before was just describing the impact here. tell me what it was like for you, where you were under these circumstances and what you
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experienced. >> yeah. i received a phone call first thing in the morning, the first thing we checked on was our team members, make sure no one was there. we were very fortunate no one was injured. then it really became an assessment of what is the damage, how long is it going to take to get our team members back to work. jackie: we're looking at some of the pictures of your place before. it's beautiful. i believe that we have some after shots showing the devastation as well. it looks like the damage is pretty extensive. as a business owner that's been struggling through the pandemic, lockdowns, lack of tourism, how do you even start to cope with something like this? >> well, it starts with, you know, the team there trying to figure out how we can get them support. we did set up a go fund me site, in the nashville location. we really tried to provide them with some support. we anticipate it's probably
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going to take about a year to rebuild the restaurant. the pictures, i'm not sure exactly what picture you had up there, but the whole front facade is -- jackie: the storefront is gone. >> yeah, the storefront's gone. really, the stability of the building will be the first thing checked. we did talk with the landlord and they're going to bring in an engineering team to try to establish whether the building's safe. the building's really long and skinny where we operate and the back windows are even blown out. so we know at least the rush of air and we're not sure if there's fire damage, water damage. we're hearing friday we will be able to actually get on site in the building. until then, we just have our fingers crossed. jackie: the "wall street journal" reporting today that tourism in nashville since the pandemic began, already down $4 billion and that the business communities were going to try to advertise, they wanted to get people coming back to travel, to, you know, be able to increase the flow, and then
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something like this happens and now you're going to have to suffer shutdowns far longer than you expected and rebuilding costs. you know, so many business owners that we've spoken to throughout today and the devastation that they're describing still are really optimistic, like yourself. how do you maintain that optimism in the face of so much tragedy? >> yeah. i don't think there's any other way. we just got to keep pushing through. our sales are down over 50% in nashville year over year. we have a great team there, they really work hard, they have been kind of pushing the to-go and delivery and trying to get some people in the restaurant. really, what we have been trying to focus on is being safe. so we do our space thing, our sanitation, everything we can to keep our restaurant safe for our guests. we just really are hopeful this vaccine gets going and everyone takes it and we get to a situation where we can get our guests back in our restaurants. jackie: speaking of being safe,
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do you feel like as a consumer, as somebody who would potentially be traveling to that city once it is more safe because of the vaccine, that a scare like this would deter people from wanting to go to nashville? >> i hope not. it's one of those things where this seems like an isolated incident. nashville's a great town. we have been there since 1980. the family started the spaghetti factory in 1969. in 1980 they made the choice to join the nashville community. we have been 40 years of doing business there. we haven't seen anything else like this so let's hope it's a long time before something like this happens again. jackie: absolutely. dean, great to see you today. wish you the best of luck rebuilding and getting through this with your employees. >> thank you, jackie. jackie: all right. more signs of a blue state exodus that could speed up in the new year. what it means for the states gaining population and the makeup of congress.
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jackie: welcome back to "coast to coast." cancel culture hitting schools in san francisco. officials will decide whether 44 schools named for historical figures should continue to carry their names based on their legacies. fox news correspondent claudia cowan has this story. reporter: well, we are in front of what is still abraham lincoln high school but maybe not for much longer, if an advisory committee has its way, because in their view, the president who helped end slavery did not value black lives enough and his name along with many others needs to go. the 12-member panel is targeting 44 schools in san francisco named after leaders whose actions in the past are deemed problematic by today's cancel culture. in lincoln's case, the committee says he was insensitive to
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native americans and blacks alike, and pointed to his support of the trans-continental railroad which quote, led to the significant loss of land and natural resources as well as the loss of lifestyle and culture for many indigenous peoples. schools named after washington and jefferson had to go because they were colonizers and slave owners. dianne feinstein elementary is on the list even though the liberal senator was the city's first female mayor but in 1984 she allowed a confederate flag to be flown outside city hall before she ordered the flag to be removed. the renaming push has sparked backlash from president trump. so ridiculous and unfair, he tweeted, and from the city's democratic mayor, who says the district's top priority should be getting its 54,000 students back into the classroom. >> i am upset, i am mad. i need them to get their act together. we shouldn't even be having a conversation about anything else. reporter: it's unclear what the
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replacement names would be. now, the san francisco school board will have the final say on any school name changes and this will certainly be a costly project. $9 million by one estimate. there is still no timeline for when kids can resume in-person classes of whatever named school they attend. jackie? jackie: thank you so much. meantime, there are also some blue state blues. new krecensus data finding near 80,000 people moving out of illinois last year, california and new york struggling with an exodus as well. what if the trend is ramped up more in 2021? to john thomas and danielle mcloughlin and back with jonathan hoenig. john, i want to go ahead and start with you. as we are looking at this kind of exodus, there is a reason that folks are leaving blue states. they are leaving because of high taxes. they are leaving because they know the pandemic has crippled
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these governments and they have to raise taxes even more. they are leaving because of crime and quality of life issues. they are typically going to red states but they are taking their blue votes with them. >> yeah. it's true. in fact, there's a worry out here in texas that they say don't california on texas. the impact of the policies that a lot of these people are running from these blue states that if they bring them with them and vote party line, when they move to a texas or nevada or arizona or florida, it could end up destroying the same quality of life or the same benefits that they were seeking. so we do hope that the people might have learned a lesson about some of these disastrous policies but time will tell. jackie: danielle, that's only one of the issues. i'm going to shift gears for a moment because one of the reasons people are leaving here and new york is the perfect example, this mass exodus out of new york city and whoever is
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left here is wondering how are we possibly going to pay for all the covid devastation that's occurred, how are we going to be able to move forward without federal funding? >> well, i'm not sure that new york city or new york state will be able to move forward without federal funding. there is a massive budget deficit to the tune of about $60 billion over between about 2021 and 2024. new york city particularly was already in the hole before the pandemic but obviously things are far worse now. i will echo what john said. you only have to look at the georgia senate runoff and the fact that arizona went to joe biden this time around in the presidential election. he's exactly right. people are leaving because of high taxes. it's millenials who want jobs in cities like austin, it's retirees going to places in florida, but they are bringing their politics with them so it makes for a very interesting time coming up here.
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jackie: jonathan, on a different topic here, what happens to the map of the united states with respect to the colors? you start to lose some of these states with huge electoral votes and we were worried about them in the last election turning purple in the first place, if they become more purple, if they move from purple to light blue? >> well, it's kind of the brilliance of our founders in that they made the series of speaker experiments but people are voting with their feet and as has been said, moving from high tax areas. for the 1% especially, you could be looking at taxes in new york state of 60%, 70% or even higher. i think that's the real thing here. look, reno used to be a major city in america. that dried up. could it happen in new york? could the base of power move? what we are seeing is not just the everyday person, but the 1%, those who create, who employ, who push the economy forward, people like elon musk,
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hewlett-packard, so many companies moving from california, from new york. this could remake, if you will, the political and economic graph of the country if this trend continues and covid only hastened the big-time exodus from new york, from chicago, from a lot of these blue states. jackie: it accelerated it and sort of accelerated the lens with which we are looking at some of these democrat politicians and some of the criticism for them as well. one of the reasons a lot of people are leaving new york city is because it's shut down and there's nothing to do here, so if they go to florida for the winter, not only do they get the benefit of nicer weather, but they can actually go out safely and do things, conduct business and whatnot. so there's a policy issue here, too, that is going to have a huge impact with respect to having to run these cities. >> yes, this really forced the issue that a lot of -- i just recently moved to texas, i lived in california my whole life and it was all yeah, the policies are terrible, the crime is on
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the rise, homelessness is terrible, oh, but that weather and all the things we get to do outdoors and the great retail centers. you don't get to enjoy any of that anymore. so it's causing a lot of people to reflect going wait, why are we paying so dearly to live in a place that we can't even enjoy the benefits around us? you know, it was interesting, it used to be people fleeing blue states for red states were the people who couldn't cut it economically in those states. they went out searching for work and that shifted. those people are still leaving but now it's the people that are the top of the economic bracket that are the job creators that are going hey, five years, ten years down the road, what do these blue states have to offer me and the capital and the wealth and the jobs that i'm going to create? nothing. so people like elon musk and oracle ceo, they are all getting out of these blue states because they are looking at the long term trends here. jackie: real quick with the last 30 seconds i have, danielle, i just want to ask you, when it comes to taxes, joe biden said he wasn't going to raise taxes on people that make less than
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$400,000 post-pandemic. is that even going to be possible? >> i think he's going to have to take a really long, hard think about whether raising taxes on anybody in this country is the right thing to do when we are in such dire economic straits. i think it's not something he will do in the first 100 days. until we get this pandemic under control. but using whatever political capital he probably has in the wrong way as we try to emerge from this economic and health disaster. jackie: guys, thanks so much for the time. you're all great. thank you so much. all right. let's take a look at the markets as we head out to break. some good news to end 2020. big rally today. stocks kicking off the final week with new records. we'll be right back. ♪
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jackie: vaccinations are starting at illinois nursing homes today but many rural areas are still waiting for their vaccine doses, as covid cases just keep rising. jeff flock is in rockford, illinois with the latest on this story. jeff? reporter: that's right, jackie. apparently they are going to be waiting for a while. rockford really isn't purely rural, but it is pretty far away from chicago, which of course has been the epicenter and the focus of the first of the vaccine. this is heritage woods, whoops, just crashed into the post there. this is an extended care facility, long-term care facility. typically this room is teeming with residents but they are still on lockdown. here's the problem. nicole, you are finding that even though the inoculations start in the state today, you're note going to get it for another month? >> yes, we are anticipating in february but we don't have a date yet. reporter: all right. anybody tell you why it's going to take so long? >> we haven't really heard.
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we are just waiting to hear when we are going to get them. reporter: that's all you can do, i suppose. nicole is one of the rns. carly also, you take care of the residents here. they are pretty eager to get it and their life is kind of on hold. all of our lives in some way on hold but more so in a lockdown in a care facility. >> yeah. the residents are anxiously anticipating the vaccine, as well as their families. they are really eager to get back to that socialization aspect within the community. reporter: yeah. that's a big part of it. as you can see, this is typically a place where everybody comes and eats and has, you know, some time together. these kind of facilities have been particularly hard-hit. if you look at the numbers, i think the total number now of cases is approaching a million in terms of long-term care facilities. 120,000 deaths in 30,000 facilities. and the rate of death, much higher in facilities like this.
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you've had pretty good luck here. >> we have been very fortunate. reporter: in the general population, if i get covid, it's about a 1% chance i'm going to die. if i'm in a facility like this, it's, what, 12%? >> somewhere around there. definitely with the elderly population we see some increased comorbidities as they age, so seeing some increased percentages with those. reporter: so they are obviously very eager to kind of get the vaccine and get their lives in some ways back to whatever degree of normalcy you call it. >> yeah. absolutely. our residents have been isolated from their families and friends for almost 10 months, so another month is a long time for them to be waiting for the vaccine at this point. reporter: yeah. yeah. so as you report, jackie, they are starting in chicago today and other states across the country in these long-term care facilities but when they will get finished with it, we don't know. jackie? jackie: whether it's urban areas
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or rural areas, the elderly really need to get vaccinated. it's such a important story. we appreciate you being on the ground there for us. reporter: thanks. jackie: across the country, small businesses are struggling to pay rent while stores are at limited capacity or in our next guest's case, closed entirely. designer michelle puckett joins us now. michelle, you are dealing with covid lockdowns, shutting capacity, dealing with everything that's happened in the last ten months or so, and your rent was also tripled on you. how are you even coping in this environment at the moment? >> i'm coping moment by moment. it's very devastating to -- not only to business and my team, but i've been trying to keep on staff at this time. jackie: what exactly happened with respect the yoo your rent because we know there are situations where people have increasing bills but their landlords have to pay mortgages
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as well, too, so people are trying to balance that, maybe even pay in small chunks, pay what they can, whatever the case may be, yet your landlord just decided this was the moment in time to raise your rent? >> yes. my lease was coming up for renewal june 30th and i had been reaching out to the property manager, landlord, we never could reach. she would not renew the lease at what my rate should have been to renew it. she said they were raising it from $20,000 a month to $60,000 a month for 20,000 square feet. i just could not do that. jackie: yeah. >> she demanded that we get out immediately. jackie: what will happen? what does that look like for your business? do you have to find a new space? will you possibly maybe take a break during this period where people aren't necessarily shopping as much in retail facilities? what's the plan? >> well, the determination i
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have, i found a place, it's not in a shopping center, it's like a destination place, and it's over 35,000 square feet. however, the landlord has problems, my new landlord, with employees not working, being sick from the virus, so my team and i have had to learn to say well, scrub grease off the floor. it's been unbelievable but my team has really prevailed helping me to get this business back up and going. jackie: and have you considered in the first round, did you receive ppp help to help keep you going? are you optimistic that the second round of stimulus just passed will help your business be able to move forward? >> i did not receive any help whatsoever. i have been surviving on what i have made for the past 15 years which is just about depleted at
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this time. however, i could not let my team go and my new landlord has been very cooperative from not having to pay rent on the larger part of the building but i am having to pay rent on 14,000 square feet of the building at this time, which is making it extremely difficult but i do have 20,000 consigners and i have a great customer base who have been very supportive via e-mail, text, you know, just encouraging words. jackie: we are supportive of you. we wish you the best in the new year, trying to keep those employees employed, trying to keep the business afloat. we know how hard it is. it's tough. we respect you and commend you and like so many people we have spoken to who have been so resilient in this country, we look up to you as well. >> thank you so much. jackie: president trump is set to hold a rally in georgia on the eve of the election there. could he swing the election for the republicans?
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which we will look back and say georgia stood up, they understood what we're after and what we're doing and they will make the right choice. we need to make sure we hold on to that senate as a firewall against this hard left marxism. jackie: senate runoff just over a week away in georgia. president trump will hold a rally in georgia on the eve of the election. fox news correspondent steve harrigan in atlanta with all the details. steve? reporter: right now, both of those republican candidates, the two republican senators, are battling to get out an 18-year-old american from jail in the cayman islands. skylar mack has been in jail in the caymans since december 15th for violating covid protocols. they are struggling to get her out diplomatically, writing a letter to the u.s. embassy in jamaica that said it is the sincere hope of her parents that she can safely and expeditiously return home to continue her studies as a pre-med student at mercer university. mack failed to isolate for two weeks upon landing in the cayman islands. she also removed an electronic tracking bracelet.
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perdue and loeffler are in a real battle to hang on to their two jobs as republican senators. they have a january 5th runoff race and this has gotten national attention because those two races will really determine which party controls the senate for the next two years. turnout is already over two million in early voting and between the four candidates, they have raised over $340 million. so these races, really getting national attention and as you mentioned, president trump will come to northwestern rural georgia on the eve of the election to try and drive rural republican turnout to make sure they get out to vote for the two republicans. jackie? jackie: let me ask you this. on the ground in georgia, the lobbying that perdue and loeffler are doing on the young lady's behalf for leniency, is this being perceived by voters this is what we do, we roll up our sleeves and work for you? reporter: i think it's a real positive. there's a lot of sympathy for the young lady. she's admitted her wrong but really, a four-month jail
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sentence for violating the covid protocol and no one else has been thrown in jail in the cayman islands for that, there's a lot of sympathy for the lady who has had no criminal record, a pre-med student, they want her out, they want her free and i think it's making both senators look good to try and get her home. jackie: 18 year olds don't always have the best judgment. steve, thank you so much for that report. we appreciate it. meantime, we are also watching what's happening across the pond. the brexit battle ending or is it just beginning? that's the question. the deal still has to be implemented. boris johnson's plan is still unclear. to former boris johnson adviser, craig dillon, on what comes next. craig, this is one positive step forward in many ways but it also brings a lot of challenges with it. what does happen next? >> absolutely. it's a big challenge, but it's looking like we are going in the right direction and after many years after the british public voted to leave the european union, and not a minute too soon, the eu is descending into chaos right now over this vaccine rollout.
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they are all fighting and you know, in the meantime, the uk has gone out and vaccinated half a million people so we are very pleased to be out of this european bloc and free at last. jackie: when it comes to the trade agreement that was struck on christmas eve, there are a lot of businesses saying the new regulations, you know, the ability to pass goods through throughout europe, is going to be -- is going to create difficulties, that businesses need time to adjust. $590 billion in goods were flowing before and the concern is that this will sort of slow things down a little bit. >> it's definitely going to be difficult but this is, you know, as the alternative of a no deal, this is a much better situation, it works better for both sides. the eu are pretty happy with the deal. the british have had to make some agreements in some areas that we definitely didn't want to roll over on, but we have had to do that to come to an agreement, but i think businesses will adapt and now make themselves work for it. we have had a long time to prepare for this deal so i think
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that things will all work out in the long term. there might be a short-term hiccup but i think we are going in the right direction and i think businesses will come straight back. jackie: you have worked with boris johnson and he has shown tremendous strength and focus with respect to brexit and making sure that this happens, and seeing it through. how do you expect him to act in 2021 as some of these challenges will arise? will it be with the same force that we have seen traditionally? >> absolutely. this is the real awakening of the british. we have been tied down by eu regulation for far too long and now it's boris's agenda is on getting the uk to rocket out. we've got great deals with partners, we signed trade deals with countries all around the world. what we're seeing now is the new world emerging, if you look at india, for example, we have a great history with, they are rocketing to overtake japan as one of the biggest economies in the world. those are the places we wants to be doing trade deals with, and the eu were definitely holding us back from those sorts of
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things. i think britain is only just awakening and coming back to its global position. jackie: great to see you. thank you so much. we wish you all luck over there with that new mutation of the coronavirus strain we are watching as well. all right. stocks looking to end 2020 on a high note. all major averages on track for a record close after hitting record highs. we'll be right back. ♪ . . now is the time for a new bath from bath fitter.
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♪. jackie: 737 max taking to the skies once again. american airlines will fly the boeing 737 max for the first time in two years tomorrow from miami to laguardia. the fa a-listed the ban last month and now the jet will finally skies. american flies one round-trip daily to start and increase more of the aircraft into service. in other news novavax announcing it will begin a phase three trial for the covid-19 vaccine in the united states marking the fifth shot to reach final stage of testing. novavax vaccine is a two-shot reg gem. they have announced promising data from early trials of the vaccine indicating that the shot is safe and effective. thank you so much for joining us today. i want to take a quick market check before we toss it over because we're seeing records on
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our indices. the dow is up more than 200 points right now, 30,418. i'm back in for neil tomorrow. to my friend lauren simonetti in for charles payne. lauren: i see you again as well tomorrow, jackie. thank you everybody. i'm lauren simonetti in for charles payne this week. with the covid relief bill signed by president donald trump what is next? i will have panel of expert this is hour. why isn't bitcoin getting the recognition it deserves while the financial naysayers are quick to dismiss it? will regulators as well? a christmas morning explosion tearing through downtown nashville. multiple businesses and


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