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tv   Cavuto Coast to Coast  FOX Business  August 23, 2022 12:00pm-2:00pm EDT

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you're really entain them with that one, i tell you. >> oh, yes. stuart: by the way, ashley, did you see, did you see manu beat liverpool 2-1. were you watching? >> i did. i was. manu finally woke up. stuart: i have got to go to get peacock. i have to shell out some money. >> you do. you do. >> hey, neil. it is yours. neil: what are you guys talking about, soccer? stuart: very important stuff, neil. neil: understood. we are on another down day on corner of wall and broad. we'll get into details. one of the latest catalysts, signs of a continuing slow down in the housing arena, new home sales declining 12.6%. much more than expected. continue as theme we've been seeing slower than expected news on the real estate front. homebuilders are up on all of this. of course they have been beaten down pretty mildly, maybe the markets are telling us there is
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light at the end of the tunnel? kenny polcari joins us slatestone chief market strategist. continued selloff not not withstanding. i find what the homebuilders are saying. what do you make of it? >> that is interesting but i'm not necessarily surprised with the weakness. we've been seeing that trend over last couple months. i put this in my note, homebuilders, cutting prices, offering incentives, things would cost thousands of dollars to upgrade cabinets, they're throwing them to try to get buyers to bite, right? i'm not necessarily surprised. we're going to see it happen more now as the fed raises rates six months and mortgage rates continue to go up, homebuilders will get more desperate to try to get people. they will come up with different ways to try to entice them. whether cutting prices or adding more incentives to get it to work. neil: you know what is interesting too, i always find
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it interesting how the markets react to something. dick's sporting goods telegraphing good news ahead, numbers that people. stock surprisingly up in trading today but even macy's with disappointing guidance that stock up even more. like the markets want to cling to the notion the consumer alive and well and nothing is holding, holding them back. what do you make of that? >> well you know, very interesting. now macy's is down, i think it is off 30% on the year. down 50% from the november high. maybe you could argue a lot of that negative news has already been priced in with the stock being down so much but i got to tell you, macy's said it today in their release, they have a big inventory build. they will have to offer, this will be a bunch of sales starting any day now for christmas as they try to unload a lot of this inventory. it will be interesting to see how consumers react if we get this continued nervousness in the market.
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we see people losing jobs into the fall as kind of expected. right? we're hearing that cautiousness. the jury is still out, right? i saw the news in macy's today but i'm not a buyer of it. neil: let me ask you a little bit about where we stand right now. last week we had first down week after four up weeks in a row. we lost about 290 plus points on friday in the dow. another 600 plus yesterday, another 151 so far today so which is it? is it the pre-selloff activity or what some people now have interpreted to be a bear market rally, or are we in for worse? >> no, no i thought it was a bear market rally. i thought the move over the last five weeks was very, very premature. i think analysts and traders you know, convinced themselves that the fed was absolutely going to pivot after we got the cpi report showed 0% inflation for one month, suddenly the fed was going to pivot, it was all good,
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now they succeeded. i thought it was very, very from mature i think that is actually what the market telling us. started last week, we had four or five fed heads suddenly very, very aggressive talking about a continued need to focus on aggressive rate hikes and inflation, jim bullard talking about 4.25, 4.5% by year-end. just do the math, you realize they have to be very aggressive. they have only three meetings left. that is the reality of it, right? that the fed actually expects inflation to kind of stick around longer than i think the market had convinced itself of. neil: well-put. kenny, great catching up with you. susan is following other developments the back and forth battle over twitter and a certain individual who has been subpoenaed. this just gets more interesting by the minute, susan. >> talking about the twitter whistle-blower. this definitely plays into elon musk and his case to walk
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away from the twitter takeover deal. the whistle-blower, former head of security, peter, actually infamous in the hacking world hired after the infamous hacks of celebrity and politician accounts back in 2020. zatco filed complaints with the justice department, fcc, ftc accusing twitter of misleading regulators, investors, users, what he called serious lapsers protecting data a too much access to foreign posts and accusing one or more employees of outright spies. blamed twitter executives to cover up in the vulnerabilities. twitter says in the response that he was fired from his senior executive role from twitter this year for ineffective leadership and poor performance adding what we've seen so far is a false narrative about twitter and our privacy and data security practices. the whistle-blower pointing finger at current ceo, agrawal.
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zatko was hired by former twitter head, jack dorsey. that he was disengaged in the last year. that twitwer doesn't have the resources ability to account for number of fake accounts, spam accounts on the platform. elon musk argued that twitter overstates the number of the real users and undercounts the bot accounts. reports that musk's lawyer subpoenaed the twitter whistle-blower in at court battle in october. if you judge it from the twitter stock price, they believe this new come employment helps elon musk's case to terminate to walk away from the twitter takeover deal. neil: susan, thank you very much for that. meantime, here is the good news, you're getting relief at the gas pump. gas prices come down markedly up only 70 cents a gal year over year. they had been up in excess close
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to 2 bucks a gallon but when it comes to another gas quite the opposite, natural gas i'm talking about. that could show up in the utility bills especially in the months ahead as we get colder weather. connell mcshane is here. reporter: to your point, this time of year, we worry about this when the weather starts to get colder, instead we have a -- across the pond. i mean russia in the news this week planning to shut down that nord stream pipeline again for a few days at the end of the month. either another maintenance project that popped up or maybe it is an act of economic warfare depending who you believe, where you sit all that kind of thing, either way if you're looking at it from the market's point of view it adds to what really is something of a perfect storm now in the natural gas world. i mean you think about it, you have the situation in europe. then you have, again you have our weather, right, much hotter than normal in many parts of our country. then the other thing looking
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forward is we have worries now from those in the market about hurricane season. what will that end up like? we could have a storm that knocks out gulf production that would certainly send prices even higher than they already are. this current price we've been looking at it is high enough this is the highest the price of natural gas has been since 2008. you think about that, that's before we had the big shale drilling boom here in the united states. so it has been quite sometime. this is one of the reasons that we have new fears today of a recession. not so much here but in europe. the other big thing out of europe today that is interesting the new data showing business activity in the entire eurozone contracted. now that is the second month in a row we've seen that. all of those things are kind of related, contraction comes with the energy prices going up, prices for other goods and services going up. you have demand then starting to fall. you have rising inventories and you do now have these growing
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fears. we talked to people over in europe that the entire continent might be on the verge of a recession. in fact numbers today kind of fit in with some of the other figures we've seen. for example, from germany. the biggest reversal of business activity in two years. then from france, first contraction from french business in a year-and-a-half. so for all of our own issues and we have plenty of them here about an economy slowing europe looks to have it even worse largely because it has been hit harder by the fallout from the war in ukraine and the last thing, neil, i'll fit in, if all of that is not enough, s&p global has this survey showing private sector activity declined in japan, australia. we have a number of new signs of weakness in the global economy. neil: yeah, the combination between that and the higher inflation right there is not really making for a good day for u.s. investors. we'll see how it goes in the next few hours when the markets close. connell, thank you very much for that. meantime it is primary day but sometimes there is sort of
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fickleness of fate, new york, florida, two states at each other as throats all the time are having separate primaries that could gauge not only how the midterms go but how, well, certain election goes two years after that, after this. ♪. your record label is taking off. but so is your sound engineer. you need to hire. i need indeed.
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♪. neil: all right. if it's a tuesday it must be primaries and two big ones in the state of florida and the state of new york that could, excuse me, set the table for who is going to be in the final races in the november midterm elections. let's get the latest first in new york city where you find our bryan llenas handicapping a race that has well, colleagues going against one another to settle a score. bryan. reporter: neil there is a lot of races to keep track of in the new york primary today but we'll first start off with new york's 12th congressional district. ranking democrats jerry nadler and carolyn maloney in head-to-head race. they are allies and friends. now because of redistricting are forced against one another.
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they're going up against saraj patel, outside younger candidate. he will try to pull off the upset tonight. ultimately nadler is seen as the favorite and his pitching himself as the more progressive choice, noting he voted against the patriot act and iraq war way back when. maloney has raised questions about nadler maybe being senile and positioned herself as the woman's rights candidate and meanwhile, in new york's 19th district this is another race we're watching, democrat veteran pat ryan taking on republican mark medical markt is considered a bellwether race whether abortion could galvanize democratic voters to come to the polls. carolyn maloney and pat ryan made abortion central to their separate campaigns. listen. >> many more dem democratic
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women needed in house and senate to end this gender discrimination once and for all and to guarranty women's equality can be fully achieved under the law. >> when fundamental rights and freedoms, whether right to vote, whether a right to make personal health care decisions, whether that is the right to feel safe, when those are under threat, i think that trans -- transcends party. reporter: narc race for district 17th pits heavyweight chairman of the congressional democratic campaign committee, sean maloney against a young progressive state senator, balaji backed by aoc. finally the new york 10th congressional district, where dan goldman, former prosecutor who served as lead counsel in the first impeachment of former president trump has emerged as a late favorite. he has buoyed his own campaign with $4 million of his own money. he is the heir to the levi fortune. so that's a wrap on everything
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new york. did you get all that, neil? neil: man, you covered it beautifully. aishah hasnie in florida where there are a couple key battles going on that could set the stage not only what happens in november but maybe a couple years after that. ashiah, what is the latest there? reporter: hey there, neil, well the republican house races in florida today are the ones to watch. incredibly interesting especially to me because they really could be a referendum on those firebrand candidates that we've been seeing so many more of stepping into the spotlight. let's start with representative matt gaetz. you all know him. he is embroiled in a sex trafficking scandal right now. he is facing two primary challengers in the first congressional district and neil, he is reportedly already spent $6 million to try to keep his seat. now in the 11th incumbent dan webster challenged by far right lora loomer. called herself the most banned woman on the internet over controversial remarks she made about muslims.
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in the 7th district, anthony sabbatini getting backlash saying that fbi agents should be arrested on site. that comes after the raid on former president trump's home. here in the tampa area, neil, trump endorsed anna paulina luna, calls herself a firebrand says the gop needs more people like her. >> right now we need fighters and need people willing to say no, that is not okay, to draw a firm line in the sand not let people cross it. if we continue to give and continue to concede -- reporter: okay, so what are the voters think? i talked with voters in the area. they're divided as to what they want in their representatives and which direction they want this party to go. >> we got enough people chasing sound bites and social media. it is just not, it is not good for us. >> right now we all feel so silenced and censored. >> you don't need a aoc for the
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republican party. >> we need fighter, passion, passionate person. reporter: okay. you heard it here first. pols close 7:00 tonight. we could start to see results as early as 7:00, neil. neil: this looks like a challenging assignment looking at the view behind me there, ashiah. i hope you put up with it. reporter: can't beat it. i will go get in the water in a little bit. neil: fine, fine, why not. in a less scenic washington, d.c. bureau, bob cusack, always great to have you. both races interesting to follow that both states have been at each other throats over the past year. florida taking a bow for wooing jobs from new york. new york stated it is overdone. new york remains the big draw, not florida. how do you see this coming out? >> i think it is an interesting
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night. i love the match chip maloney versus nadler. it has gotten nasty between the two of them. desantis get general election matchup, charlie crist, former governor, turned republican, turned democrat, independent. that is see how much democrats invest in the race not to beat desantis. i think he will be hard to beat, so much money, huge war chest, but lessen the margin, ding him a little bit because he is weakened. democrats fear trump in 2024. they also fear desantis. neil: i'm wondering if you're desantis, you want to rack up a big bin it is still tough. florida, i you know this far better than i become more red last couple of elections but it is still close to evenly divided. i wonder is the pressure hon desantis to wrap up a big win, a win enough, couple three or four point i think the polls show, what do you think? >> i would say five. five is a good mark for desantis
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that is comfortable win f he ekes it out the expectations and you know, neil, all expectations well, we didn't expect that, that he would barely win. so he wants to have a big win. that is the question for the democratic party. are they going to invest in a race they're likely going to lose but thinking about down the road it might help them to invest that money. neil: you know, bob, i'm wondering since we follow the money around here whether a lot of the you know financial backers for democrats are sort of getting off the fence buoyed by these polls show potentially tightening race in the house? still looks like that branch will flip republican, maybe, maybe not. senate looking a little bit more inhospitable for republicans. do you notice whether the money guys say we'll plunge cash down to see where this goes? >> i still think the focus with donors is on the senate because it is such a jump ball. historically, looking at biden's
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poll numbers, hard to see the house staying in democratic hands. so the big prize is the senate and this is, as you mentioned there have been some stumbles with republican candidates. the polls in various states including florida are, marco rubio probably going to face off against val demmings. we'll get that official tonight that could be a close race. that is not a race many people were really tracking five months ago. so republicans have, joe biden has had a rough year since the withdrawal of afghanistan but in the last month he has picked up some momentum and democrats are cautiously optimistic. neil: that is what bringing out the base, whether it registers with other voters or independents, as you remind me too early to tell, but certainly jazzes the base, doesn't it? >> it does, it does. remember the progressives and centrists are still fighting each other in the democratic party. we're seeing that in a number of primaries today. we've seen it in the past. that is going to continue moving forward with the tension with joe manchin and sinema but
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you're seeing the enthusiasm for democrats move up a bit. maybe that is certainly helped by the abortion ruling and we saw that in kansas with the numbers on democratic side, very, very high. so that's one to watch to see if that enthusiasm continues to build for both parties after labor day. neil: that defines turnout as you say. always great seeing you bob cusack the hill editor-in-chief. follow fox coverage throughout the day with results likely today in new york and certainly in florida. meantime here, investing green or in green initiatives, why some republicans are seeing red after this. ♪.
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♪. neil: all right, green investments are all the rage. some are saying it is go woke or go broke. well republicans fear that this push to go woke will make us go broke. hillary vaughn following all of that on capitol hill. hillary? reporter: neil, well, republicans are blasting this idea from the sec that would require firms to prove that what they say is a green investment really is green. the sec is trying to combat what is called green washing of environmental social governance investments but some firms are pushing back on the idea. blackrock writing this to the sec, quote, the proposed requirements would increase the potential for green washing and lead to investor confusion. we question the need for the sec to he elevate environmental factors, over governmental factors without material to the fund. they say it would push dollars
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from fossil fuel type industries demand answers from the sec what they are doing is constitutional. climate groups like the sierra club sis agree the sec's role would lead to a blacklist of fossil fuel companies, saying this in the statement, the bizarre notion that banks are boycotting energy companies that is the latest flavor of climate denial. part of a broader attempt of free market businesses addressing urgent climate related financial risks. some states are not waiting for congress to ask, they take action to blacklist banks that they think are boycotting invests in u.s. energy. >> what we created here was restricted financial institutions list, a list that would bar them from all state contracts or terminate current contracts if they're boycotting the fossil fuel industry. we generate hundreds of million of dollars in severance taxes from coal, to hand the dollars over, weaponized against the very industries and people created them that is a conflict
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of interest. that doesn't make any sense at all. reporter: neil, senator tom cotton put investment firms on notice telling them to quote lawyer up, saying if they take control of the senate in november they will investigate investment firms that they think are joining this so-called climate cartel. neil. neil: hillary, thank you for that. hillary vaughn on capitol hill, to russ vought, i remember him, former white house office of management and budge get director. russ, i heard one republican saying democrats trying to get what they want while they still have the numbers to try. it is hanging by a thread even among democrats so where do you think this is going? >> neil, the mad earn phenomena corporations are no longer corporations engaged in commerce. right now in world we live in they're part of the armed regime. big tech suppressing on behalf
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of regime or corporations pushing esg reforms, shaping the market using their massive wealth. you have the government on top of that saying we'll join that effort with these disclosures regulations which are not popular and we probably have a majority vote to, under the congressional review act to get rid of them, certainly with a new majority of republican congress. i think there is a lot of potential to stop esg in its tracks but it's going to take fortitude from congress. it will take fortitude from states to begin to say the only way we can deal with this, if we are creating with a public policy response that says these multinational corporations that are shaping this, this marketplace is not doing it on the basis of the american people's best interest. we'll step in and take away government benefits in response. neil: you know, i'm just wondering what is lost in the argument, no matter how people feel about the republican initiative to stop the democratic initiative how much it costs average folks.
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i don't think they connected the dots on that. have you, and what would the impact be? >> well if you're saying to the, reporter was talking about the extent which the democrats argue this is something, fossil fuels are still, there is a relationship under esg but it's different. when you have the esg component it changes these corporations into which they are no longer in the business of providing a lot more energy and a lot reduced price. and so you're incentivizing them to get involved in renewables and to make decisions that are not in the best interests of what a consumer might experience. and so that i think is an example of the extent to which these are leading to less service, worse service and higher prices for people that are trying to engage in commerce on behalf of their family and their businesses. neil: you know, while i have you here, russ, democratic pennsylvania senatorial
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candidate, don fetterman is looking at high gas prices and blaming the oil companies for that and saying that the company executives should be prosecuted for those high gas prices. what do you think of that? >> i think that's insane. i think that is weaponizing the judicial system, law enforcement against companies for them just engaging in the reality of the economic system that democrats are giving them and as a result we have some structural issues as a result of the biden administration and democrat policies around the states that are causing high gas prices and high energy prices. that, they're necessarily going up because of these policies and then to try to come on behalf and weaponize the law enforcement process in such a way to go after these companies i think it's terrible policy but i also think it's terrible politics in that the american people have a gut sense about these kinds of things and i
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don't think they will be incredibly supportive of it. neil: as a former omb director, it is outside, i feel when you were at omb, you never liked to talk about the fed, touche to you. i am wondering though this fear the markets have, evidenced itself over the last few trading days that the fed is going to be aggressively raising interest rates, almost regardless of the data that comes out whether slow or not. how do you feel about that and the impact it could have? >> well, i hope the fed continues to go forward with their rate increasing. i don't think we have enough data to say inflation has slowed. we had one little dip in a month and there is still a lot of underlying data that suggests that the housing and shelter costs have not factored into the indexes and they're quite delayed. and so i think the fed needs to block out a little bit and keep moving forward and i think the market is a little too inclined to just want to get back to the good ol' days.
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i think that we're in a corrective and we need to be in a corrective, we're going to have a fundamentally stronger economy if the fed is allowed to do its work and, if the biden administration stops spending money and stops its anti-regulatory, its, pro-regulatory reforms. neil: russ, good seeing you again. we'll see what happens because we're a long way from seeing any of this resolved. russ vought, former omb director for president trump. in the meantime washington, d.c.'s mayor says she needs help with the migrant crisis that arrived by bus on her city's doorstep but she has been shot down from the same feds that the governor of texas has has been imploring to help him too, after this. ♪
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♪. neil: all right. say this about the federal government, when it comes down to the crisis at our border they're fair and balanced ignoring demands on the part of politicians whether they be democrats or republicans of fixing it anytime soon. the mayor of washington, d.c., had implored the pentagon to intervene and help with the crisis she says is right developing at her doorstep with busload after busload of migrants coming their way to the nation's capital from texas and the pentagon has said no each time. let's get the latest from casey stegall in eagle pass, texas, where things stand right now because as the surge continues with the problems associated with it. sir? reporter: yeah, neil, we have some sad news in fact to share with you. sort of underscores the humanitarian crisis of what's going on out here along the southern border, increased
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crossings can also translate to increased tragedy. we want to warn our viewers the video you're about to see is disturbing and graphic in nature but as we were sitting here yesterday waiting to go live we saw a border patrol agent performing cpr on an inhaven't infant sat next to them crying. they were rescued from the rio grande river trying to cross. taken to ambulance to a local hospital, we learned the baby did not make it. 30 minutes later here eagle pass, fox flight team captured a 3-year-old infant pulled from the water in a body bag. they're averaging one fatality a day. as cartels flourish in nogales, arizona. a drug bust at a major point of entry. 1.6 million pen at that nil bills, 13-pound of fentanyl powder, 13 pounds of heroin, 10 pounds of cocaine hitten on
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18-wheeler trying to come into the country all seized. >> think of the trade that goes through. you have the trade, legitimate trade goes through. criminal organizations have gotten really good at hiding hig that stuff in chaos and clutter of legitimate traffic. reporter: today already been busy in terms of large groups once again i illegally crossing here in egell pass and up the road in normandy, texas. heavy rains caused stronger currents out in the rio grande river making it even more treacherous, neil, to cross. neil: just incredible, just incredible. casey thank you for keeping us up on all of this, casey stegall in eagle pass, texas. to a guy said enough, i was dealing with migrants coming on my property. i had to move and get out and he did. mike hayes, double m ranch
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border. moved to the louisiana, one too many incidents including a scary one. mike, good to have you. thank you for taking the time. >> good to be here, neil, how are you? neil: i'm fine, sir, not so you, what you've been through. tell us about the incident that actually prompted you to say the heck with it, i'm out of here? >> well actually, i'm still here on the ranch. my family is the ones that we moved to alexandria, louisiana. my wife and my children moved. i'm still here on the ranch. i still live here. neil: they left because of an incident involving your 13-year-old son. could you explain? >> yeah. i was in the hay field last year and we have radios because you don't always have good cell service down here and everything. they was hollering on the radio for me to get to the house. when i came up here, my son, a guy was running through the field back towards mexico actually and, my wife and my daughter briana was, he was trying to get in the door on
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them. my 13-year-old son run up him and started confronting getting his attention towards him. by the time we got here he was done running up the road. we caught him, turned over to border control. he was completely tatted up all over his face and everything. that was enough. previously before that they had elderly lady attacked by three men and was assaulted and our sheriff actually caught them. so that, along with just crossing every day, you can come outside close to your porch there is water bottles and stuff. my wife had enough of it. i guess living in fear and it led to stress in the marriage and, that was it. neil: so they're in louisiana. you're where you are, mike. do you intend to go join them in louisiana? do they want you to join them in louisiana? >> no. right now, it caused so much
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trouble between us, i guess it is in god's hands, no, everything i have is wrapped up on the ranch i'm in the oil business and stuff here. we're dealing with it. neil: i don't mind, i mean to get into personal matters, mike if i'm being too presumptuous or rude, just tell me neil, shut up but did your wife say that she has to go with or without you she was going to go? and now that you have stayed behind, is there any hope of you joining her? a has she asked you to join her or is she done with all of this? >> we spoke about it and, when we talked about her comment, she would not come back here. she said, michael, there is no way i'm coming back there with what is going on there. at this point it's, it's probably over because i can't leave. everything that i have is tied up in this ranch and, that is just the way it is. previously, before she left we
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had talked, she wanted me to move into the city, somewhere, me go back and forth. i guess i'm hard-headed. i was raised on a farm. you can't leave your cattle and horses and things. you got to be here. you can't run a ranch being absent, you know. neil: you probably heard, you know those in washington say the border is locked down, it is fine. knowing what you have been through, what do you want to tell them? >> the administration is blind. there is something wrong with that man. he destabilized this border. when i first came here there has always been problems with immigration, always, there has always been crossing but, this guy, there is a blimp in the air over my ranch. about three miles up. it had cameras and in january when he took office, january the 28th they made them remove the cameras, which was an asset to them being able to look at the border, look at river.
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he made them remove the cameras. there is times, out here that we don't about two border patrol agents on at a time because they bring them all out of the field to process because there are so many numbers to process at the substation. so we're unprotected. he is in denial if he thinks that he's, it is controlled. i would invite him or anybody else to come out here, stay the night on some of our ranches. listen to the fences creek as they cross over them. go look at the fences cut the next morning and, fellow neighbors calling you hey, mike, your cattle is on the road. you go look, it is cut again. they let the cows out. he is in denial. there is no way. these people need help. the city police of eagle pass, the sheriff's office, border pa control, customs, and the army, texas national guard, they're overwhelmed. they need help. they need to release some funds.
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they need to do something. he needs to reinstate title 42 or something. i don't know exactly what the man's thinking. neil: what are you going to do, mike, you're all alone, your family is gone, it is just you and the ranch? >> well, my older son, he left his job and come back to help me lately. i have got employees and we do our best but, we stay fixing fences and stay with the litter, i know litter is minor but you can pick up garbage cans of water bottles and backpacks, torn clothes, every day, if you wanted to. neil: amazing. mike my best to you and your family. i hope and pray that maybe it works out. >> thank you. neil: mike hayes, at the border with a story that is all too real and all too familiar. stay with us
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>> he has been great. he has been great. same thing, same as when he left. he has been fine. >> we pretty much keep distractions out of the locker room t wasn't a big deal to us everybody knew what was going on. he is a film junkie. i'm sure he watched tape of everything. him coming back in picking up where he left off, getting used
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to the mechanics. neil: buccaneers coach, rival, 11 days tom brady to training camp right now. he had other things which he was approved to do. mike gunzelman, that is what being a rock star grants you, the ability to get special privileges that your fellow players and others are not given. what do you make of this, gunz? >> i mean it is part of what america or the system is b it is multitiered, multiclassed. some people get a slap on the wrist for legal system, perhaps. politicians might do insider trading not get in trouble. here in the sports world tom brady can take a week 1/2 away nobody even bats an eye about it. you know the bottom line, neil, he is a winner and when you have seven super bowls and our arguably the best quarterback of all time, you know, people will turn the other, turn the other eye, look the other direction about it. neil: i just wondering too, i wonder how fellow players feel?
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obviously he ignited interest in the franchise, turned it around, retired, unretired. they liked being associated -- i get that, but you can't tell me there is not resentment? >> there is a little bit of friction within the locker room. you see how players desperate to make the team. here he is is your quarterback, your leader, he is not showing up? on other side buccaneers are paying 50 million-dollars for a two year contract. do you want to make brady upset, a little resentful before the season starts? i understand, brady has been in the league 20 plus years. he knows how to read defenses. he won championships. still you want toby there with the rest of your team. he is a winner. who will stand up to say something to tom brady. neil: yeah. >> in the past the nfl might step in and fine a player for not showing up to practice or the team would but the nfl right
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now, when you think about brady, besides deflating of footballs a few years ago, he is a stand-up guy, for a league with a lot of troubles now, being woke, off the field issues, deshawn watson and all that, they love brady. they need brady. he can pretty much have free reign to do whatever he wants. neil: i wonder if he is too distracted. he has become a megastar. he has a monsterous contract with fox, when he steps down, hundreds of millions to do that. whatever he is offered 11 days. all sorts of rumors with a special show or series of shows he was working on, i don't know. this much i do know. that you know, for a guy who wants to remain in football he is not always laser-focused on football? >> right. i mean, he, it's tom brady. he is across all aspects. lots of investments, tv-12 program, did he retire only to
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come back and unretire. sure, i wouldn't say shenanigans but is football still a priority? he did come back. now whether he came back because he was like, wow, i don't know anything else to do except be involved in football? he came back from retirement. maybe his family was like, now that you're home every day, you know -- he would not put his body through this. it is the most rigorous sport out there. he is getting tackled. he is getting sacked. his health is literally on the line every single minute. neil: i hear you. tv anchoring, there are dangers to reading a prompter, young man. i just found out these other anchors are paid. that is a separate issue. gunz, you're the best, my friend. >> love you, neil. neil: walking sports inencyclopedia. stay with us, the dow is down 115 points. if you're tom brady, saying it is only money for god's sake.
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neil: things change quickly. it wasn't long ago we were talking about the position of a lot of american workers, they could pooh-pooh job offers coming their way and they are desperate now, they are concerned about getting the
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jobs they have and then there is the direction of the markets, they were storming back, half of those loans and in the last few trading days we are back to the selling that was giving them freak outs. and how employers are digesting this as well, they are saying the job market isn't what it was. >> we are seeing companies shows lines of slower hiring and cuts. if it comes to remote workers they want the first to be sent home or stay at home which is where they are now. pmc sold 700 us executives about the current state of business. they are preparing job cuts. when it comes to those cuts, 70% of companies are easily replaced than their in office counterparts.
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we've been seeing job cuts throughout the summer. ford is one of the latest, 3000 employees are being let go. wayfarer cut 870 people with sales decline, palatine cut 780 jobs. robin hood laying off 20% of its workforce. apple has reportedly cut one hundred contract recruiters as they aim to slow hiring and spending. despite that, some apple employees are pushing back on return to office plans. after labor day workers are expected to come in three days a week but some remote workers don't want to and claim they do, quote, exceptional work from home. the calls for staying home might be ignored as the current work environment changes. word from the survey, the majority of companies requiring staff to be on-site more, and also instituted were planning on hiring freezes, they are also resending offers.
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the last bit could affect employee longevity through the pandemic, only talked about this, they struggle with retention. a lot of people hopping job the job or getting job offers looking for the best bonuses are paid, that might be changing if we see those freezes and job cuts. neil: thank you for that. constellation research ceo, the intel ceo. it has been a 180, a person was feeling cocky, they could decide for themselves whether they want to work or work remotely, they are calling the shots, now that doesn't appear to be the case. >> that golden era for the workers to pick and choose is coming to a end. we heard about those head winds. the more the fed announces it will increase interest rates, it will be more expensive to
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get businesses running and keep hiring. the hiring freeze will continue to expand so clearly it is a new era but workers, 80% of them are saying i am being more productive or equally productive when working at home. 80% are saying that so there's this contradiction over recession. it is puzzling. i can't remember a time we had this where the mind shift of two years working remotely stayed as the new normal for people who expect this as a new benefit. as a business owner it cuts your overhead if occupancy rates are at half of what used to be maybe we could rub businesses in a big way. things are changing all around. neil: you follow technology where this freedom existed and was more apropos for high tech
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companies than others so apple is saying it is 3 days a week no matter what is going on. even some of the investment banks that acknowledged crime in new york say we would like you back here. where is this going? >> we come from a post pandemic boom to post pandemic hangover. in tech companies when people thought they could move around, earnings are still good, forecasts are still good and what is happening at companies like apple is they are not hiring as much, job listings taken off the board, restricting the level of hiring, not like they are all laying off folks but it is getting harder and positions being removed and they are beating shareholder demand had we see that fruman the road to davo's by the economic conditions. things were still booming in the us and we look at the
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numbers, but earnings this week, forecasts are pretty good. you see finding in place, a company that just got $1 billion in funding. they announced it. there are still pockets of activity but we have to balance what is real versus what is in the data and what the fed does this week. neil: one of the things i have noticed, not that things have changed about it backs up a lot of workers who used to call the shots but the underlying job market is strong, layoffs notwithstanding so i am wondering if we are overstating it or if it's just getting back to more of a norm, not to a stagflation. >> when you look at new job
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creation we are at 3.5% give or take but what is concerning is the workforce participation part of that equation because we are below pre-pandemic rates. when we double click that number, the younger cohorts of the workforce population, that are not engaging or getting back into productivity. that's a long-term pipeline of having a workforce and as with any economic model, depends what you put in and get out and in this case if you don't get enough of that pipeline we won't generate enough output. i'm concerned about the long-term impact on the mindset of joblessness we are seeing in these younger generations because we haven't even doubt the ability of jobs, and desire to take those jobs so there's cultural shifts, ceos, leaders and business need to figure out what that means to culture and
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attraction mechanisms, strategies, and the young republic. neil: you could flip it around another way. he people in general, they got generous pay raises for future years, the costs of gone up more than the pay raises. particularly the technology arena. what do you think? >> that's true. the conference board did a survey, most workers, 80% of workers have savings that could last the next 6 months, it is rare, happening with younger workforce. small businesses around that have been restaurants, services, dry-cleaning, shipping services, companies
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would have a chance at recovery. getting people back to work has a lot of uses in bringing people back in to mentor that. i had a son who did an internship, you miss the conversations, stay after to build those relationships. we have to get back to what he was saying, and what is lost at the moment if you work at home not that you don't want to balance but you need the personal touch to get the work experience. neil: my own sons have been doing everything remotely and they missed out on a lot, maybe the wrong reasons here. we will sort this out as the weeks and months go by. some decision, any decision on relieving stillborn student loan debt. it could come soon, what are you hearing? >> report saying the president
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will talk about it tomorrow. i'm hearing from a white house official august 31st by that date is when the president will have more to say about student loans, with the white house reignited the debate whether to forgive $10,000 in student loans, resident biden, students have not had to pay back a time of federally backed student loan, and august 31st is when the prepayment would start. a former treasury official in the obama administration, a direct link between federally backed student loans and inflation, and inflation, the consumes resources that are used helping those who did not for whatever reason attend college. it will also tend to be inflationary by raising tuitions. for republicans this could be
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another policy by this president who would rather raise and push inflation. >> on the oversupply of money in low demand market creates. it creates inflation. if you give every kid in america thousand dollars to go to the next semester of college the price of college goes up $1000. >> there pushing back on that. >> a lot of commentary raised about inflationary effects. and look at debt cancellation and also debt restart, that's the end of the pause and restarting payments. >> policies it is at 8.5% year over year. the president is not changed policies and there's no plan to change those policies either. neil: thank you very much.
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it is a situation from bad to more confusing. here's a crazy concept about the cost of all this, maia has been a lone voice in the wilderness talking about something like that because we all have to pay that. she said the committee for responsible federal budgets with the president and we are told whatever the administration comes up with, there will be some relief but don't know how much it could cost anywhere over the next 10 years, 300 million to 300,000 but we are told don't worry, we will just add it to the debt. what do you think? >> an announcement on this topic is imminent and it will be incredibly costly and highly disappointing. let me put it in context of the backdrop of the legislation that was just past, the inflation reduction act where the president repeatedly talked about how much he cared about reducing the deficit and that legislation does accomplish
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hundreds of billions of dollars of deficit reduction. it took many many many months to get that past and came close to not getting done and keep in mind the start of that legislation was trillions of new debt that ended up being deficit reduction. they may wipe out that amount of deficit reduction in a matter of minutes with the stroke of a pen and it means all the promises about caring about the fiscal future of the country fall quite flat because if you think this is the right priority and i can make arguments there are better ways to improve than this, this would be at the bottom of the list but if you think it is worth doing, how do you cover those costs and it is likely to cost close to $300 billion-$900 billion but you cannot add that to where the debt is at near record levels and inflation is a huge problems and this will make both of those problems worse. neil: i heard the white house read on this and that you got
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to remember when you forget some debt, do they resume the debt they have in their payments that is a big if. be that as it may, there's the potential to be inflationary and it would lift up interest rates and the cost of carrying that is accidentally higher so where is this going? >> if you combine both of those policies it is better than just continuing debt pause and debt cancellation but doesn't mean it is a good policy in terms of inflation and right now the number one economic priority would be getting on top of inflation. we had a bill that moved in that direction and now we move back in the wrong direction. every dollar of borrowing fuels inflation and i understand everybody wants things that are giveaways, this is a political play, not a policy play, very few people would say this is good policy and i understand giving $10,000 to people, there are a lot of people who would
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be thrilled to get that including people who don't have the benefit of having gone to college or have graduate degrees are a lot of different caveats a lot of things that aren't paid for will make the debt worse and make the inflation situation worse than it otherwise would have been and would not have done anything to address the important challenge we have, and figuring out how to do with the financials structure that makes it out of the reach of so many. it is the cost of college and this will drive those costs. it could do a lot of long-term damage and i'm concerned we are seeing policies focused on the immediate political objectives rather than long-term fiscal health of the country. >> you could have another group say my auto loans help with auto loans. thank you very much. the committee for responsible
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-- there's a concept, she's the president and has been warning about this. both sides of been ignoring this. russia is front and center and a lot of worries globally including wargames, a new warning from the state department, americans and ukraine might want to get out because of fears of a massive russian attack. we are on top of it. i just always thought, “dog food is dog food” i didn't really piece together that dogs eat food. as soon as we brought the farmer's dog in, her skin was better, she was more active. if i can invest in her health and be proactive,
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neil: russia holding wargames with venezuela in our neck of the woods. the latest from jennifer griffin. what's going on? >> reporter: the russian military is not only expanding into ukraine this year but is boldly carry out wargames on the doorstep of the united states. venezuela is hosting wargames that started last monday at have been an annual event since russia invaded crimea, this is the first time a country in the western hemisphere has hosted the games. another example of how russia in a race with china is increasing its influence in latin america. >> these literary exercises are
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pretext for the pre-positioning of military assets. this could become a dangerous precedent to have advanced military operations, only miles from the border. >> reporter: games include tanks, artillery and in for bs operations, some describe it as much a reversion of the olympics. over 7,000 russian troops will take part in the games which include shooting competitions. other competitors include china, brazil and indonesia. russian president vladimir putin opened the seventh international army games at patriot park monday, putin who has had more than 70,000 russian soldiers killed or injured since they invaded ukraine, they are actively being upgraded and applauded the nuclear capacity. >> the fact that venezuela is able to host these games in which russia and china are invited, 1 more way despite the
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sanctions, russia is not isolated. >> reporter: what is really shocking is russia has 7000 soldiers to center these games given losses and ukraine and how stretch the army is. the only nato member to participate was greece. the us observed them one year but did not actively take part. next week chinese troops will travel to china to take part in a separate military exercise hosted by russia. include india, belarus, mongolia. neil: the read on all of this, former navy seal team 6 commander, great to have you back. what is going on in ukraine, fears of the state department because of these fears of russian attacks but this thing
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in venezuela, what do you think they are up to? >> it comes as no surprise really. it is dual purposes, one is strategic messaging that says i can play in your backyard, you want to be in my hemisphere, i'm going to open up again in your hemisphere and if you go back to the 80s when they were involved in nicaragua, cuba, that was huge for the russians, what advances can they make in bolivia but also practical considerations that are good for them. this is assembly of iran, china and these other countries allied with russia to get the military together and share information, obviously an arms trade component to this as well. can serve as a big buzz are for all these guys to trade arms throughout south america as
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well as get to know the lay of the land. should have been completely expected. neil: obviously for americans to leave, on fear of a new wave of russian attacks, what do they know that we don't. >> don't know what their intelligence is, various pieces coming from the intelligence community, not necessarily state department, transmitting the message to passport holders there that there are some threats from human intelligence or signals intelligence that we have that they picked up something and the indicators of the assassination of zaria, the big russian oligarch's daughter, that you would naturally think there are repercussions from that so either have caution or out of
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direct intelligence, a good idea for blue passport holders to get out of here. neil: the us committed an additional $3 billion to equip ukrainian forces, and carrying the lions share, with defense weaponry. what do you make of that, and >> two parts there. and they are hard to get hold of. the next top 3 contributors, the uk, sweden, estonia, italy, less than $1 billion combined.
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we should have a vote in this. if i may shareholder and the company a large shareholder, 10% of your company, 20%, i should have influence on what is going on and when you come to the table and have a voice with you and not sure we completely have that and have a lot of emotional arguments going on that we are behind ukraine and what we need, a lot of our money is going into this, we need some sober analysis behind it, looking at both sides in a creek away, same way you bring on bulls and bears to look at the market and they provide arguments for which weight is going. i think we only look at one side and president zelenskyy has done an amazing job
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capturing the emotions of the west which is laudable for him. he's doing what is right for his country. we have to look at what is right for our country and europe. when does it end? where does it end? there's a negotiated settlement and so far both sides turned down different offers, the italian plan that was out there, a different -- the-ist emblem memorandum from turkey that provided some frameworks, they backed off of that because neither one is ready to come to the negotiating table. as ukraine wants all of ukraine back, russia says i'm not giving up my thing, i'm making more gains. they are at an impasse to sit there and say this is not an unconditional surrender on either side, not going to happen or else this is a
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prolonged war that we are going to continue to fund without much change on the ground. neil: if you read the press with various nato countries providing aid, seeing editorials, this is getting long in the tooth. i'm oversimplifying it. the wallet could begin to close. >> and i keep hearing the recurrent theme that it's going to be a really harsh winter in europe in terms of energy. russia still controls those bounds for natural gas coming in. how much is europe going to tolerate? as we move if we are in a recession if we move towards a recession, wherever that land, money is getting tighter. as we start giving this aid in this perpetual war we have to
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ask ourselves in a shareholder, what are we getting? what is our return on investment, i want to stop russian aggression but there is a pertinent piece where you need to come, ukraine as well as russia come to the table to figure out some negotiated solution and right now you are enabling one side to not do that. neil: former navy seal team 6 commander. to business and life, it is critical thinking and a reminder what he was just mentioning all joined together, being in ukraine, stay with us, you are watching fox business. what do you mean? these straps are mind-blowing! they collect hundreds of data points like hrv and rem sleep,
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neil: the back-and-forth between donald trump and the justice department and the motivation of the red has gone another level higher. the former president, master to review the materials taken. we don't know how this worked out. and galvanized some republicans say he is unfairly picked on. karl rove with us, the deputy chief of staff. the latest development, the former president wants totals of what was taken at why. where do you think it is going? >> i'm not a lawyer and i didn't stay at a holiday inn express last night but it won't go as far as he wants but may go someplace. we have the search of mar-a-lago. the fbi has begun to review
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those documents, a filter team, an independent group of lawyers and fbi agents examine each of the documents to make sure there's not something like attorney-client privilege between the president and his lawyers or personal items. we know by the 15th they identify the president's passports, when diplomatic and two personal, not necessary for the investigation of personal items, those are returns, they started to go on the ninth and by monday the 15th they returned some items that were not coming back and we have august 22nd with the request for the special master and what was returned by the president in january to the government and boxes that were taken as a result of the search there may be as many as 3000 documents so what the president is asking as you may have studied the things
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i gave you in january and had two weeks and a day to study the documents you picked up and read but i want to special master to examine those and it will be a high bar to get to because long-established procedures, independent responsibility, to find things that should not be reviewed by the fbi and they have done that well. they will have to prove there is a compelling need for special master. neil: the president's supporters gone up at least among republicans but a good many who fear all this drama of whether he is liable for any of this stuff, just more drama that dissuaded them from backing him for another presidential run. where do you see this going politically? >> politically in the run, it is a rally around the flag but we don't know where it will end
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up, for the last two weeks, our political dialogue has not been about inflation, has not been about the southern border, rising crime, has not been about the big spending bill congress passed with all special benefits for the president's allies, the president's low approval ratings, we have a ton about that, we've been talking about donald trump and the democrats love that because they don't want this election to be a referendum on biden, they wanted to be a choice between trump and biden or better yet a referendum on trump, and republican numbers have been great and rallied around the president and his numbers have gone up, they haven't gone up among independents, it has taken 21/2 out of at that .131/2 weeks we have between had to and the election, something the republicans are not going to find useful. neil: mitch mcconnell seems to be telegraphing we might take
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the house, not so much the senate. >> i think he was being realistic in saying don't take this for granted just because it is a midterm election and we should have a red wave going, we have some candidates who are first-time candidates who never run for office before, some candidates who said things they thought were necessary to win the primary that will not be useful in the general election and trying to shape republicans out of complacency and say we better get involved in this effort or we will end up with a 50/50 senate or worse or 42-48 democratic senate. republican complacency, this is all going to happen on its own. that is not how elections work. they work because you have popular opinion behind you and that is seized upon by effective campaigns and candidates and mobilized to make what was going to happen bigger and stronger than what was going to happen. i saw a tweet from the former
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president attacking mitch mcconnell for saying we've got to get involved in the campaign. he reached 1/4 of $1 billion to back senate candidates for an organization that helped found the leadership fund, he's doing his part, the question is is everybody else? neil: the group that has gone nationwide, at lake mead in nevada. >> talking to businesses about how the drought is impacting them, after the next break, which businesses are impacted the most. ♪ ♪ ♪ ♪
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neil: water levels are not the only thing driving water out of lake mead in nevada. much of the country, business revenues tied to anything having to do with it. kelly o'grady has the latest. >> reporter: good to see you. as you approach the lake, signs show you where the water used to be. i want to show you 2018, if you come to 2021, not that big a difference. there has in some movement. the biggest shocker is where you look at where the water has receded to in the past year. the lake is at its lowest level in 80 years due to the colorado river drought. the federal government is mandating water usage cuts for the second year in a row. 20 one%, with a that comes lot of frustration at the unequal burden. the pain is trickling down to industry. we talked to a number of businesses and one group hurting is farmers, supporting
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a $15 billion agriculture industry. 74% of less production from the harvest, 22% of farmers to change their crops, some take years of cultivation and investment before they yield anything so some folks are shutting down altogether. the other big impact is tourism. we spoke to a business owner who had to physically move the marina due to fluctuating water levels impacting boating access and it is expensive. >> it is twice a year with tween 9 times this year, it took about a month to get ready to move. we move every other week. >> i can tell you the resilience is palpable. you hive new tourist attractions, new caves to explore that used to be underwater and for these folks drought is a factor of life.
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>> my family when this business for 65 years so we've seen a lot of lake level elevations and ups and downs and we don't plan on going out of business right away. >> reporter: what does that mean? the boats are still out there and operational. if you go to the grocery store you might see prices go will higher, you might see less variety but what "my take" away is is these folks are very resilient but struggling with a drought on top of other challenges. neil: thank you for that. too little water to too much. governor abbott visiting after some severe flooding, what's the latest? >> reporter: what a difference between yesterday, dallas looking a little ominous. the trinity river, last week those the river was 11 feet. he has it has tripled in size
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since yesterday and is rushing today but nothing like we experienced all over dallas metro as in some spots nearly 15 inches of water, this time it actually is the reality making interstates and roadways look like rushing rapids. amazing scenes as vehicles were stranded, people in the darkness of night and by sunrise not seeing the water driving in. next thing you know swimming for their lives to high ground, hundreds of rescues by fire, police and ems occurred according to officials. one person did lose their life in a town called mesquite just east of dallas, texas. it hasn't been since 1932 they received this much rain in a 24 hour period. that is when the great depression was ending. just tremendous.
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to think this region has been an exceptional doubt -- drought, farmers and ranchers struggling, people in triple digits and the earth baked in the so when this rain came and had nowhere to go, too difficult. an hour ago governor abbott of texas came from austin to dallas where he is originally from, spoke to the media and urged people who had damage to their homes and apartments to go to the texas website and make those claims because if they don't they will have a problem. the say will have an issue getting federal funds in here to help with this cleanup. the police department lost 32 vehicles submerged. there were ambulances all over town that were submerged because of how hard this came down. i found myself yesterday in a strange position setting up for a life reported a vehicle, a voice came out screaming for
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help. i went in the water and pulled a woman out, stephanie carol, i can't swim, don't want to do this. i got to say it made me realize all those officials that save everybody's lives, those are the folks we should be thankful to and always in these natural disasters gives you a humbling perspective when you are in a moment like that. dallas recovering, storm moved eastward, flash flooding that was expected. time will tell, governor abbott declared declaration of emergency at 11:50 a.m. central and the states and the city on the path to recovery. neil: you are very modest, you're a great reporter, you could have stuck to that and reported on this but you dropped all that to help
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someone. you seem to be a decent human being as well. we are all impressed here. if it were me and that position, you wouldn't be able to pick me out and secondly i but have a devil of a time doing what you did so thank you. appreciate it. >> reporter: thank you for your words. i mean it sincerely. to think all the first responders around america who do that every day, don't get the credit and to be honest with you, so many divisional issues, it is good to help each other and it helps the greater cause sometimes. stuart: you are absolutely right, nobody has a political label in a crisis. great following those develop and as flooding continues, more after this.
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look what it has done. i'm in a size 4 pair of pants. go golo. (soft music) pst. girl. you can do better. at least with your big-name wireless carrier. with xfinity mobile you can get unlimited for $30 per month on the nation's most reliable 5g network. they can even save you hundreds a year on your wireless bill over t-mobile, at&t, and verizon. wow. i can do better! yes you can! i can do better, too! now you really can do better! switch to the fastest mobile service - xfinity mobile. now with the best price on two lines of unlimited. just $30 a line. neil: you need them in all these electric vehicles, russia has the market cornered on uranium.
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easier said than done. what do you do? >> we got to remember one in every 5 homes in america is powered by nuclear energy that requires uranium in addition to the fact the electrification trends with electric vehicles and trucks require not only battery, everyone talks about lithium batteries but how do you charge that battery? it needs to be charged at night time but during the day to get from a to b and when you rely solely on renewable sources, wind and solar, they only work 20% to 30% of the time because it is intermittent power. they rely on base electricity which is what nuclear power is, 24/seven. this has been an area that has been a huge oversight, the
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united states has become extremely reliant on russia. and the recent sanctions, gas, now they are talking about sanctioning all sorts of things but not uranium. and uranium energy, we try to change this, they stop up last year and acquired a company called uranium one that for 12 years owned by the russian government, and -- neil: i want more time with you but right now i want to have you back to discuss how we go about this. the russians on this market, more after this.
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neil: all right. we got the dow down 160 points. we're well oaf the worst levels. we're also well off the best levels. charles to help you in the next hour. hey, charles. charles: can't wait. neil, thank you so much, my friend. good afternoon, i'm charles payne. this is "making money." this is tug of a war of nerves with the market lower but exhibiting some resolve. wall street turned deededly bearish but stocks and bonds have not gotten the memo. could the fed be poised to do too much? fed and reverse wealth effect. new home sales cratering. what it means for th


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