tv Cavuto Coast to Coast FOX Business December 3, 2021 12:00pm-2:00pm EST
really where our attention lies right now. the market is down, nasdaq is down over 2.5%. looked good up until jim bullard started talking about tapering, and raising rates at the same time that tended to spook markets more than anything else. we hand it over though into the capable hands of my good buddy neil cavuto to take you through the next hour, neil? neil: thank you, david by the way could you walk a little harder, please? the floor needs vacuuming out here it's a mess. david: i'll take care of it. neil: thank you, my friend, nice job handing this market off to me here. we've got the dow jones indeed down a lot, we've got the nasdaq really getting slaughtered right now, there's a lot that hinges on it of course the jobs report, you know, it was one of those kind of manic days where you see things you like, and you see things you don't like, and then you realize that at the core of it all was slow job growth, and concern that that might be a preview of coming attractions, now that would cut
a variety because maybe with that kind of activity you'd see the federal reserve less inclined to certainly hike interest rates, anytime in the near future or for that matter aggressively speed up tapering and other buying of those treasury notes and securities that its been scraf ing up to the tune of $120 billion, that stops or slows so we'll see what happens now a 10 year note at about 1.37 % couple of weeks ago this thing was around 1.65% let's go to edward lawrence at the white house, on how they're digesting that number and a number that has something for everyone to sort of fidget over. reporter: to chew on, this was a big miss as you saw on-the-jobs report however there's some good news, the 4.2% on the unemployment rate is the lowest we have seen since february of 2020. that's when it was after record 3.5% on the unemployment rate so some good, some bad but the reason the unemployment rate fell while the economy only
added back 210,000 jobs is because the number of people who have got jobs was about double those that actually reentered the workforce, so the net was a smaller amount of unemployed and within the report the average hourly wages increased 4.8%. that is still less than inflation. something the president convoluted when he talked about this report. listen. >> tax cuts and raising wages for middle class families mean that americans on average have more in their pockets today than they did each month since we've been in office, than they did last year, after accounting for inflation. let me repeat that. even after accounting for rising prices, the typical american family has more money in their pockets than they did last year. reporter: i don't know if everyone would say that 6.2% is where cpi inflation is so a mixed bag when talking about where the jobs are, manufacturing and construction added back 31,000 jobs, leisure and hospitality adding back
23,000, mining lost 1,600 but retail losing 20, 400 going into the holiday season so we have not seen a steady gain of jobs, more of a rocky hill sort of going up, going back down, the labor secretary marty walsh saying this is a president that is still focused on jobs. >> marching orders to get people to work to go back to work, get people trained and get people back into jobs and the presidents focus is getting people the opportunity to get into good paying jobs and the middle class. reporter: now the labor force participation rate did tick up to 61.8% that's something the federal reserve likes to see there be enough, it seems, in this report, neil, some would say for the federal reserve to remove more of that accommodation and go faster on the tapering because they do want to handle any type of recession that could come or any type of slow down with the interest rate hikes and they need to get rid of the other accommodation to do that. neil: got it, edward lawrence thank you very much of course tapering talking about but roughly $120 billion a month the
treasury or the federal reserve has been behind buying up scooping up treasury securities, mortgage back securities i think it breaks down 80 billion a month in treasury securities of the rest mortgage back securities that type of thing and then they would speed up sort of stopping that, if you will. but again, there's no indication that they are, in fact, going to do that. right now, the 10 year note at around 1.37%, prices go up, yields go down, that's what's happening right now. now omicron has a lot to do with this , this new variant that has a lot of doctors perplexed we're going to be talking to dr. fauci about it in the next hour, what he makes or what's going on around the globe and five states here, 23 countries, and growing concerns that this could get out of control, they hope not, but we'll see. in the meantime we've got lydia hu following what a number of schools are preparing for , just in case. i guess just in case, right? lidia? reporter: well it remains to be seen but new york city mayor bill deblasio is making some waves by mandating that private
schools now have all their staff and their teachers get the vaccine. he wants this in place by december 20 but immediately after the announcement there was pushback from leaders of the jewish and catholic faith. they are asking the mayor to reconsider and actually, neil, i talked to the superintendent of schools for the diocese of brooklyn and he said they were surprised by the announcement. they weren't expecting this or seeing this coming. now a group that represents leaders of schools that enroll a majority of the students in private schools sent a letter to the mayor saying that vaccinations should be left to individual choice, and "the practical impact of the city imposing an immunization mandate could be devastating to our schools and the children they serve." the superintendent of the schools for the diocese of brooklyn who i just mentioned that includes 70 catholic schools, they say they already have a vaccination rate of 93%. here's more. >> there is a concern that if
there is no latitude for personal reasons or for just options, we could have a couple of schools that could be impacted by having to shutdown. we've struggled this year to keep our classrooms with a teacher. reporter: the mandate on private schools follows the mandate that went into effect this fall for public school teachers, legal challenges on that front failed. the result was that more than 3,100 teachers are placed on unpaid leave as of early october , neil i asked for an update but i haven't gotten that quite yet but that was 4% of public school teachers but the legality of the mandate on private schools is much more uncertain, especially considering biden's vaccine mandate on private businesses, with more than 100 workers currently blocked by the courts and it will ultimately probably be decided by the supreme court. now, mayor deblasio, his time in office is running out. neil: two and a half weeks. reporter: pretty big announcement to make at this juncture so whether or not this is enforced we'll have to
see what, you know, soon to be mayor eric adams does about this and whether he decides to pursue it. neil: these are private schools. all right, thank you very much for that lydia hu on all of tax right now, we were talking about the jobs report and what kind of effect on some of these other virus concerns are having on hiring plans, maybe slowing things down, some have interpreted the weaker than expected number 210,000 new jobs to the fact that maybe with mandates out there, vaccines and the like that people are skid dish to return to work. i don't know if that's the case, but it's something that pete lampson watches very closely, kind enough to join us now. what is happening on this whole, you know, virus front, and how it is affecting what's happening in hiring situations, can you update us? >> thanks, neil. nice to be here again. neil: same here. >> i think the numbers we saw today while certainly softer than we had expected probably unfortunately do not yet fully
include the impact of the omicron virus. that really came in towards the latter november and so the $210,000 or 210,000 new hires that came out today would have largely been in advance of that, so i think that there's clearly some possible future headwinds we're going to have to keep a very close watch on, the virus being one of them, possible fed moves earlier than expected, be another, third be the vaccine mandate and to what extent that may impact a future employment number but i think the softness that we're seeing today, unfortunately, is not yet really impacted by the more recent virus news. neil: you know what i'm curious about, it's not as if businesses aren't offering very generous wages and pay packages, wendy's not too far from where i live is offering up to $20 an hour for kids or anyone, really, to join them and they are having a devil of a time finding those workers so what is really going on here? this all comes a month after we got word that what, four-plus
million americans quit the workforce. what is happening? >> i think there's such choppiness and rapid movement and see sawing of reaction to most recent news that that is kind of a part of what is driving today's numbers and while december we always get choppiness due to holidays and sand in the water from interpretation perspective, december maybe very different, but i do think that looking at some of the sector news that came out of today's announcements you look at the leisure and hospitality numbers that came out, and while the prior segment it was true, from a white house, that was up 23,000 jobs in november both in kind of versus october, the important number to look at also is the october number was up 170,000, so we're down 86% in leisure and hospitality and the retail space, and these are two of the segments that were hardest hit by the pandemic,
down actually into negative territory, down to negative 20,000 jobs, versus 38k positive in october, so there's some trends that are happening in certain sectors that i think are perhaps concerning that we're going to need to again continue to watch. professional services down also, but nowhere near as much, professional services down 26%, month over month, so and i think that these maybe for very different reasons, kind of to your point on the virus, where you maybe seeing some virus concerns, even from the remnants of the delta virus concern not even impacted by omicron yet that are impacting the service sector, but i think in professional services, it's a different story. i think that the challenges remain that it's very very difficult for employers to find the right people. we've got 47% of our customers telling us that the single biggest challenges they are
having is the skills gap from the roles they are looking to fill with their candidates, so and our job listings on jobbite were up 3% to 1.3 million so there's like i said there's choppy results here that sort of reflect the greater unknowns i think. neil: well keep us posted on that, it can be a good and bad problem to have at the same time , pete lampson the jobbite ceo, and again, much of the concern seems to be on omicron and how much of a factor that could have going forward, so it's not only an issue about the public health , but whether it can be an economic drag. we're going to be discussing that in the next hour with dr. anthony fauci so you'll want to stick around in the meantime we've got john peyton here, what john has been noticing is what you've been hearing a great deal about. restaurants certainly are booming but they have this labor issue and labor squeeze. it's limiting how much business they can take advantage of here.
john what's happening on that front? it's hard to find workers, i get that but it's also impacting your ability to deliver the great stuff you have, right? >> yeah there's lots to unpack there so restaurant business is booming, neil. applebee's for example, was up 10% inq 2 over 2019 and up 12% over 2019 inq 3, so americans are returning to restaurants, that's the good news and welcome them back. the challenge is if you're just talking about in your previous segment is we're at about 85% of full staffing nationwide, some markets a little better some markets a little worse, but we're still 15% shy of where we need to be and that labor gap has been unchanged for the last couple of quarters and, you know , today's employment data reflects we're not making much progress there. so when it comes to our business
, it tends to be later night hours that are more harder for us to staff because of the implication of the gap and the wages. neil: is there a difference between applebee's and ihop, and who it's impacting more? >> no it applies to both brands equally. the challenge isihop is a 24/7 business, so you have moreover night hours, and applebee's closes between 10 and 2:00 a.m. depending on the market. neil: i can be amazingly patient for my pancakes at ihop. i'll wait, i'll wait. let me get your sense of now the omicron situation and this virus variant, and how it is impacting you, it's too soon to tell, i would imagine, but a lot of people think twice about going out in social settings, going to work, flying abroad, flying here, i'm just wondering what the impact be on restaurant s such as yours? >> it's too soon to tell with
the new variant but i can give you a data point from delta that be analagus, which is what we saw inq 3 when delta was peaking , it was in those states that had infection rates that were 20% or greater than the national average that we saw what i would call a mild-to- moderate decrease in traffic. so, you know, 20% more than the national average but like i said it was a mild decrease because we still performed positive to 2019, at applebee's and ihop, so it doesn't seem to have a large impact on traffic at this time. neil: all right, we'll see how it goes, and keep us posted on that. good luck with your customers. keep the pancakes coming, that's just free advice but i think you know that better than i. john peyton. >> it sounds like you're a fan so pumpkin spice pancakes are our special for the holidays. neil: we are there, all right, john, thank you very very much.
you might wait a little bit, but man oh, man it's worth it but that's just the food comment there, it's not meant to reflect any bias, but i love pancakes. all right in the meantime here let's take a look at the corner of wall and broad with the sell-off going on we got it going on throughout all the major averages. this is really a sort of look at the markets here, where you can look at the jobs report and say something constructive, because prior months data was revised upward, and you can also look at it and say all right well present jobs at least as recently as november is slowing, you could look at the overall unemployment rate coming down, the 4.2% and say well, that's a sign that things could be heating up, and the federal reserve can go slow on responding to these inflationary pressures so something in it for everyone but for the better part they're selling and dealing with the questions and details later. in the meantime, how this new virus variant is affecting all of this , we've got dr. marty makary coming up, don't forget we also have dr. anthony fauci to weigh in on this.
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or visit an xfinity store to learn how our switch squad makes switching fast and easy this holiday season. neil: all right i think last time we had dr. marty makary here he was saying this omicron thing is going to spread it's just in ever itable to and sure enough that's the case we get with this new virus variant reported in at least five u.s. states and more than 33 countries what are we looking at now dr. marty makary joins us, the price we pay, the book that i think defined what we be looking at before we even knew we had a pandemic way before that. doctor, always good to have you. i'm yours on how much of a threat this could be, as you've been saying it's not surprising in the u.s. and maybe we'll get many many more case, but so far, doctor, they don't appear to be too severe, but i might be jumping to conclusions.
what do you think? >> yes, hi, neil. i agree. look, the way we should not be doing anything different based on omicron, based on the molecular modeling, it appears that this new variant does bind to antibodies, based on the absence of any severe infections from omicron from the clinical bedside experience, there's nothing we should be doing differently. our challenge is not omicron. our challenge is that we've got covid in the population and there's a segment of say 10 or 20 million americans who are adults with my immunity, and they are getting in trouble right now. that's where we should focus our concern, not a" hadding the entire general population. neil: you hear these stories about icu beds and it depends on the state and the city, but they are filled with those who have not been vaccinated and so that limits space for those who are having heart operations or stents put in or bypasses and a host of other things.
is that a worry to you, regardless of the numbers and i know we're up to a very high vaccination rate of 70% of americans had at least one shot, i get that, but the unvaccinated portion of that equation. >> yes, it is a concern, but there's another story that we're not hearing and that is that almost one in five workers in healthcare have left over the last two years, many have left in sort of a mass walk-out when natural immunity was notarized by the government, and i know you're going to talk to dr. fauci later you may want to ask him how can he allow people to be fired from their job when they don't get vaccinated because they have natural immunity, they have circulating antibodies to covid, but they are not antibodies the government has recognized, so that's one of the big drivers i'm also concerned about the supply chain problems we have a national shortage of abra xane, a powerful chemotherapy that's used for breast and pancreatic cancer and a national shortage of bliom
ycin, a critical chemotherapy for hodgkin's lymphoma. these are all manufactured problems we need to address right now. neil: but how do you know, doctor, someone has natural immunity? i talked to many, of course not nearly well-schooled or expert on these things as you, who assume they do, and they might account for a good number of people who don't get vaccinated. there are others for personal, religious reasons, i get that, but some are clinging to that notion that they have this immunity, without being confirmed that they might have it. >> a lot of people think they've had covid but never tested positive. we can't rely on that experience neil: or they say, doctor, that because they haven't gotten it, they don't, you know, have to worry about it. >> that's right. most of the people getting in trouble right now, those are the people with a lot of regrets when they come into the icu right now. look, there's two ways there's two things. one is theres a test and that test is reliable. it shows that you have circulat ing antibodies and for
people who had covid it shows that they have, in fact, circulating antibodies. the other is if you look on a population level, the largest study done worldwide in israel, found that anyone who tested positive in the past had a level of protection regardless of testing for antibodies, and that level of protection was 27 times more effective than vaccinated immunity, why is the nih with their $42 billion not called people who were infected in new york, 20 months ago, interviewed them, tested their blood and given us this answer, why is the cdc not released re infection rates? we really don't see that. we don't see reinfections result in severe illness and hospitalization with ultra-rare exceptions. that says a lot about natural immunity. neil: all right, so are we at that point now, doctor, the reason why i ask is we're still seeing a thousand people dying a day from this , right? so i'm just wondering how we
address that. >> yeah, so that is a very surgically precise problem. that is the 10-20 million american adults most have a risk factor like being overweight and they are not immune, they're not vaccinated, they don't have natural immunity, those are the people, there's a lot of those people out there and they're coming in, we're seeing it in the viral season in the northeast, cases should not be our indicator of how we're doing with this pandemic. cases are going to fluctuate year to year, and by the way omicron comes from an animal reservoir, in my opinion. that's the only way you get that many mutations over a long period of time. it couldn't have come from an individual so we're going to continue to see millions and millions of animals infected forever and we're going to see new variants come out of that. we've got to learn to live with this and track hospitalizations. our battle has always been against hospitalizations, not oh , my gosh there's a case in the school let's close the schools down. neil: so this is like the flu. we'll have to get annual shots or maybe follow-up shots, that's what gives the un
vaccinated yet another reason to say it's not worth it. what do you say? >> well look, we have other viruses that circulate, and for some of them, natural immunity is life-long, and for others, the mutations mutate around natural immunity and you get a mild infection, so we're going to have to live with one of those two outcomes. for some people there's a very low risk tolerance and they want to get boosted frequently. for others they are going to look at the risk of hospitalization among fully vaccinated people right now in the u.s. , guess how low it is? one in 26,000. that's according to the cdc. the weekly risk of a fully vaccinated person getting hospitalized one in 26,000, who is that one person? 73 years of age is the average age according to the one state that gives us data. neil: interesting. that's very interesting dr. marty makary great seeing you i hope you have a happy and safe holiday, you certainly kept a lot of americans safe, dr. marty makary, best selling author, john hopkins university profess professor of public
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reporter: hey, neil well it's easy to talk tough on china, but it seems like it's harder to act tough on china, as chinese officials are pressuring american companies not to join in on any boycott efforts for the beijing o o o olympic games, now the democrats in congress are coming under scrutiny for stalling congressional efforts made by chinese slave labor. the senate passed the weger forced labor, it is now winter and the house has still not voted on it senate republicans say because american ceo's are quietly lobbying against the bill that would impact corporations that use cheap chinese labor to make their products. >> these are quietly lobbying to kill my weger slave labor bill and if you buy products made there we will presume they're made by slaves, right? they're working quietly to kill it. reporter: but president biden's
climate envoy john kerry is reportedly also worried the bill will complicate his climate change negotiations with china, and has reportedly lobbied top democrats in congress to slow down and water down the bill so i asked speaker pelosi about that. >> is that true? >> no. it is not true, and, you know, again if you want to repeat the charges of the republicans that's up to you, but that is completely not true. as i've said, for over 30 years, i have been considered the most disliked and that's absolutely not true, but you asked the question, so they won their case. reporter: but the case isn't closed, the washington post reporting last night that the state department has been reaching out to some senators letting them know they want to slowdown the passage of that weger-forced labor prevention act. now, neil, the house is reportedly going to take up their own chinese slave labor bill which kind of begs the question.
why aren't they just voting on what the senate sent them, and sent that to the president's desk by working on a completely different bill they need to get that passed in the senate is it is going to slowdown any congressional action on this and the bill could be watered down as well. neil? neil: maybe that was their intentional along. hillary, great reporting as always, hillary vaughn, on capitol hill. want to go to gordon chang, the great u.s. china tech war, so much i want to talk to you about, gordon, but on this potential protest over china's slave labor, all this building talk about maybe skipping the winter olympics there, we talked, i'm just wondering whether that's going to happen and what you think will happen. >> you know, in the past, neil, americans have talked tough on china, but done very little. what we're seeing now, i think, is a tipping point, and that came with the case of peng shuai , the tennis player
because we saw the woman's tennis association pull its events from china. now there's a lot more than needs to be done but i think that there is now an appreciation that china will not move unless we impose great cost, so i do think that we are moving to a very different environment. neil: do we know where she is, what her status is? >> well she's obviously in the custody of the chinese central government and the communist party. she's not free to move, free to speak, and there are a number of indications that beijing is using her, because they are very concerned that the international olympic committee will move the o limb wick olympics. she's talked to the ioc twice, they have not taken up her case but she's not talked to the women's tennis association leading the charge and that's a real indication that she is very much no longer free and she may never be free. neil: wow, if you don't mind
switching gears again to what we originally talked about, my friend, and that is dede, the chinese ridesharing company after that debacle of an ipo indicating that it's going to be bolting there, maybe list in hong kong, i suspect there are chinese fingerprints on this but what do you make of it all? >> well certainly, xi-jinping, the chinese ruler wants to make sure that chinese companies are listed only on the four chinese exchanges including the new one in beijing. neil: right. >> dede right now this is a whole issue of data security. china doesn't want any chinese data reviewed by anybody else, although i don't think there was any real possibility of that with dede you b the united states now needs to look at this , because if chinese a is being so tough on data, we should be doing the same thing. neil: you know, gordon, everything goes tit-for-tat with this stuff and now we're looking or the securities and exchange commission is looking at delisting all the chinese
companies here or at least some of the prominent ones, so wouldn't this boomerang on both countries ourselves and the chinese? >> well, yesterday was important not only because didi announced the delisting from the new york stock exchange but also because the sec finalized that rule you were talking about but let's remember that that rule basically put chinese companies on the same footing as everybody else, in other words, it removed a special exemption on accounting which really was not justified, so if china is not ready to have its companies listed on foreign exchanges then there's really little we can do. of course there are always issues of decoupling and people worrying about it but china has to meet the same standards as every other company. neil: so when i hear jamie dimon , of jpmorgan chase talk about his company will last longer than china and then he has to dial that back, we're still sucking up to the chinese. that has not stopped, right?
>> no, it hasn't stopped, and it won't stop on wall street and in the business community for a little while, but it is stopping in other areas, and that's a good thing because we now have a better appreciation of the legality of china, and although there's still an amount of lying to ourselves, the amount of lying, i think, has decreased substantially especially over the last month or two. neil: that's progress, put that on a billboard. we're not lying to ourselves as much. gordon chang, great seeing you my friend, thank you very very much. >> thanks, neil. neil: in the meantime here, one hurdle down, the government shutdown that we thought could happen tomorrow night isn't going to happen tomorrow night. they are going to deal with it in february that's one issue but in the bigger scheme of things, there's a huge one that's coming up around the 15th of this month i mean, huge. or should i say huge? >> ♪
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and goes out of its way to help. ♪♪ when you start with care, you get a different kind of bank. truist. born to care. neil: you know, have you ever tried to keep track of what's going on in washington? for the likes of me it's overwhelming but i do know the importance of this next date , december 15. that's when we're told, at least , we all run out of money, and then it's cataclysmic, so that debt ceiling moment, if you really buy it, that's the date but that's the one we're going with, could be either uniting force to get everyone on the same page to deal with what could be a potential crisis, or something we blow through and it's hell to pay. let's go to chad pergram on capitol hill with more on where things stand on that front. hey, chad.
reporter: good afternoon, neil, now that they averted a shutdown there's concern about the debt ceiling expect congress to begin working on that next week. the deadline is the middle of the month but don't expect gop assistance. >> really not going to vote to raise the debt ceiling i don't know a single republican that's going to vote for that because it's so tied to this reckless tax and spending bill if we're not going to default on our debt reporter: republicans want democrats to hike the debt ceiling on their own, especially if they're going to pass their social spending bill but they need all democrats on board. democrat kyrsten sinema is key, she will not commit to casting a yes vote. >> i would never promise something to the american people that i can't deliver, and i think it's not responsible for elected leaders to do that. reporter: democrats like tom swa si of new york are watching to see what the senate does with state and local taxes, or salt. >> the bottom line is that we've got a deal right now that we agreed to where we increase
the cap to 10,000 to 80,000 if we want to send it back to us in a different way they will do it in a way they accept it and we get the votes. reporter: the house probably must accept a different version of the bill, which comes back from the senate. neil? neil: chad pergram thank you very very much we'll take a quick break don't forget dr. anthony fauci coming up in next hour, but what have i told you it isn't covid gillianing people some pause, about going back to work, it's something else, crime. after this.
i was afraid things were going to get worse. i was always hiding, and that's just not me. not being there for my family, that hurt. woooo! i had to do something. i started cosentyx®. i'm feeling good. watch me. cosentyx helps people with psoriatic arthritis move, look, and feel better. it targets more than just joint pain and treats the multiple symptoms like joint swelling and tenderness, back pain, helps clear skin and helps stop further joint damage. don't use if you're allergic to cosentyx. before starting, get checked for tuberculosis. an increased risk of infections—some serious —and the lowered ability to fight them may occur. tell your doctor about an infection or symptoms or if you've had a vaccine or plan to. tell your doctor if your crohn's disease symptoms develop or worsen. serious allergic reactions may occur. it's good to be moving on. watch me. move, look, and feel better. ask your rheumatologist about cosentyx.
neil: you know, all across the country it's the same story, you poll almost any city resident and their number one issue has gotten to be crime, especially in a lot of the big cities and doesn't alexis mc adams know it she's in new york city with more, alexis? reporter: hi, neil that's right here at columbia university students feel like they are going to be safe they should feel safe it's an unbelievable school but last night on campus that was not the case nearby, two people were stabbed at a local park and one of the people who was a student here was killed. take a look at this video this
is a picture we just got a few moments ago from the school, this is the columbia student now identified as david geary, a grad student in the schools engineering and applied science at columbia in a statement today columbia university telling us the attack that took place just off of campus is unspeakable and sad and calling it shocking. now this is where this all unfolded last night around 11:00 here near 123rd and amsterdam in new york, as just off of the columbia university campus, and geary was walking the area when he was stabbed to death, just about 15 minutes later another man was stabbed this time just a few blocks away a 27-year-old tourist at that time rushed to a local hospital, with stab wounds. the surveillances was arrested near the park, and a knife still in his hand according to sources police believe the same guy is responsible for both attacks. investigators say a third person was in the area and actually was there when police took this guy into custody, sources telling fox news that the suspects was out on parole for assault. students calling for more
patrols near campus. >> i tried to stay in safe places, places that i know of, well-patrolled and well-manned, and you know, if anything ever happens i try to avoid confrontation. reporter: now sadly this is not the first time a columbia student has been murdered near campus. this woman tessa majors was killed almost exactly two years ago to the day, stabbed multiple times by a group of teens during a robbery in december of 2019 back on campus and talking to students i can tell you that safety is a top priority the university is working with authorities but this come, neil, as a concern over violent crime in the area and in manhattan overall, continues to grow. the new york post is actually reporting that the ceo of bank of america is putting his employees on high alert telling them not to wear the bank of america logo just trying to dress down so they do not become a target of any crime. other companies as well are actually giving their employees transportation so they don't
have to take the public transportation due to safety concerns. neil: that's incredible. alexis thank you very very much, alexis mcadams, the former nypd and fdny commissioner, commissioner always great see seeing you but it's a sad indictment on our times when a big employer in the city, bank of america, advises workers to essentially dress down, not draw attention to themselves, just to stay safe. what do you make of that? >> well you know it's just wrong advice . it's not what you wear, it's what you do. there have been many many victim ology studies that basically say it's how you walk, how you present yourself, not to look like a victim and most importantly, don't go into dark places that you don't know without being with somebody. make sure you're aware of your surroundings at all times, but you know, many studies have been done, what you wear is not consequential to whether or not you're attacked. it's just if the criminal perceives that you're an easy
target or in a place where there's nobody else around. neil: but the very fact that a major company has to think about something like this , whether it's the proper advisor not, commissioner, just makes me think that something is changing here and then when i read about the part of many to return to work in cities like new york, has nothing to do with covid. it has everything to do with crime. how does cities get a handle on this? >> oh, absolutely the fact is that places like los angeles, new york, for the past deblasio administration, seattle, portland have all been worried about the criminals not the victims and what they have been doing is heeding their cities to these criminals and it's ridiculous. the no bail law, what we're see ing with these crowds of thieves because they reduced crimes of theft to misdemeanors was ridiculous. it's basically telling criminals you have a free pass and that
the general atmosphere in your city is criminals rule and it's crazy. it's upside down. neil: what's crazy about it as well, is how brazen it is, in broad daylight, you know, robber s, burglars who are not even afraid that they're going to be caught or apprehended they walk out of the store and oftentimes it's the store's guard who are opening the door on the way out. this is nuts. >> it is nut, neil, and the fact is, one of the reasons we're able to clean-up new york in the 90s and the early 2000 was because criminals knew there was a certainty of arrest and incarceration. now they know it's just the opposite so why not if you're a criminal, and you practice your trade, which you're stealing and hurting people, and you know nothings going to happen, you're going to do it and that's what's happening. we are in chaos and we need to fix it or we need to fix it very quickly. neil: well some politicians who were pushing these policies are the ones now sort of trying to
dial them back and fund or refund the police departments and what have you, worried about the economic fallout, especially when conventions are at risk and that kind of thing in places like california. i would imagine that might be the only thing to change this , when it hits the bottom line, or the cities or states revenue. >> well absolutely. the revenues and i think the voters are going to use their votes this time, because the majority of people in this country do not want this chaos, they want law and order and i think you're going to see in the 2022 elections a big change in attitude towards crime and not having this kind of chaos that we're seeing all over the country. it's crazy. we are definitely in the decline , and when you match this with the inflation that's going on, we are definitely going in the wrong direction and it needs to be fixed. neil: all right, we'll watch it very closely howard safir, thank
you very very much, former nypd commissioner here. we're also following some, you know what? you could look at it disturbing news on this new variant front, with omicron now indicated in at least five u.s. states, 33 countries. that is not so much a surprise, so far what is at least a pleasant surprise is cases reported are not deemed to be too serious, even in africa where all of this originated we hear from health ministers and the like that the cases are not too severe. as i've often said they could be talking their book, they don't want to be isolated or ostracized but for now, they're saying this is manageable. how manageable? we'll ask dr. anthony fauci, he's coming up, next. my retirement plan with voya keeps me moving forward. they guide me with achievable steps that give me confidence. this is my granddaughter...she's cute like her grandpa. voya doesn't just help me get to retirement... ...they're with me all the way through it. voya. be confident to and through retirement.
♪♪ neil: well, it's been the question of the day and of the week and an alert for you i just want to pass along regarding omicron. the virus has world a little anxious, and apparently so anxious in ireland, the government has agreed to impose new covid-19 restrictions on the hospitality sector, home visits, all that sort of thing. is it warranted, and what could this mean going forward? we have dr. anthony fauci with us. doctor, very good to have you. >> good to be with you, neil. thank you for having me. neil: what do you make of what
ireland's doing? i know i'm dumping this on you. overreaction? how do you feel about that this. >> you know, it could be an overreaction, but i don't think we could make any comment about that the, neil. there's a lot of unknown ifs here, and literally in the realtime as the days go by and sometimes as you've just shown with that recent flash you got, as the hours go by, you learn more and more. but i can say for us here right now with regard to what we need to know about transmissibility, about severity of disease, about relatively speaking whether the vaccines and/or the boosters what kind of protection we get, those things are still actually being sorted out. we're getting a lot of good information from our south african colleagues who have the bull of the cases now. -- bulk of the cases now. but as you mentioned at the top of the introduction to me, we're starting to see cases right here in the united states, and we'll be learning in the realtime from
our own cases. so i don't think that we should be able to say what's being done in one country is an overreaction or an underreaction. really i don't think we can make that kind of determination. neil: it's probably too early as well, doctor, i assume to tag or relate some of these cases, because at least it was thought certainly in terms of the first guy we heard about in minnesota who had taken a trip, you know, to africa, so would have been exposedded to it. but a lot of these other cases involve people who have never been. should that worry us? >> well, what it tells us, neil, and that there's community spread. and once you have community spread, then you're going to be the seeing cases popping up all over the place because they're under the radar screen. because we know from delta that a substantial proportion of cases can be without symptoms and spread to another person even if you don't have any symptoms. so the very fact -- the thing that caught my attention the,
neil, was the person who was in new york city -- neil: right. >> -- and then got infected there because there was no contact with anyone that he could identify was in, for example, south, southern africa. and he himself certainly was not. so that's the kind of thing that raises some alarms about turned-the-radar-screen spreading across the country which tells me we are going to start seeing more and more states and more and more cases that are going to have it. there's no doubt about that. neil: let's talk a little bit about how you know if you have it. in other words, when people get a covid test, doctor, will now this be among the things you look for? >> this particular variant gives a certain signature on a pcr test, neil, so that even if you don't specifically look for this variant, when you do a standard pcr, it has a certain signature that something is missing in the
binding of this particular primer that we say when you do a molecular test. it's called a spike gene dropout which means that if you're looking for one type and you don't see something there, you know this is highly suspicious of being omicron. the good news about that is that the standard pcrs that we use will pick it up, and that's really how the california case got picked up and the same thing with the new york cases. neil: you know, you had mentioned earlier in some interviews about you hope that maybe one of the good things that would come of this, i'm paraphrasing here, is that people who are not vaccinated would get vaccinated. but i hear as much from people who have not been vaccinated who now sure as hell they will not get vaccinated, because if you get this and hear about breakthrough cases, mine own included, doctor, and i was
fully vaccinated, and we hear about people who have the full vaccination, even getting the booster shot, still getting it. not necessarily with this variant. they're saying, no, i'm not going to bother. >> yeah, but the thing about that, neil, is you don't want to get into a situation where you don't fully realize that very, very often -- and the data clearly show that -- if you are vaccinated and get a breakthrough infection, which there are a lot of them. you yourself mentioned your own personal situation. however, we know now that when people are vaccinated even when they do get a breakthrough the infection and compare the likely had of their going on to a series -- likelihood of their going on to a serious hospitalization and even death is much, much greater in an unvaccinated person that nona vaccinated person -- than in a vaccinated person. so although i can understand, why should i get vaccinated, they need to understand that even if they do get infected, if
they were not vaccinated, they might have had a much, much more serious course. and if you look at the whole cohort of patients who get infected, there's no doubt recent data, neil, just came out that if you are unvaccinated and get infected versus vaccinated and get infected, the likelihood of your getting hospitalized is much, much higher if you are in the unvaccinated group. neil: yeah. and i was vaccinated, and it was the relatively mild. i tried to milk it, doctor -- [laughter] but it could have been a lott worse. could i get your take on whether we've gotten to this natural immunity the point in this country? i was talking to dr. marty makary earlier in the last hour, doctor, about the fact that there are, you know, probably enough americans now who have had a natural resistance to this. but what i also hear from the many americans is they assume they do without confirmation of that. where are you on this and
whether we've hit that inflection point. >> well, there are some knowns and some unknowns, neil. for sure, you can't deny that many people -- in fact, maybe most people -- who wind up getting infected and recover do have a considerable degree of immunity that would protect them against reinfection. the thing we don't know because we have not studied it that carefully as well as we've studied the immune response to vaccination and to booster which we have a really good handle on that, is that if a person gets infected and gets mild symptoms versus a person who gets infected and gets moderate to severe symptoms or a person who gets infected and maybe is so sick they have to go to the hospital, is the level of protection following their recovery very different? see, we don't know that. so you can't assume that when you get infected, you all have a uniform level of high degree of protection.
that's not to take away from the fact that you can't deny that people who do get infected and recover clearly have a degree of protection. the one thing you do know that if you get infected and recover and then get vaccinated, the level of your protection after that is as high as you can imagine. it's really, really way up there. and that's the reason why cdc still recommends that if you've been infected and recover, that you do get vaccinated. not denying that you do have a degree of protection when you coget infected -- do get infected. neil: where are you on the vaccination? i know you're personally recommending vaccinations for people. it seemed that the president in his remarks yesterday had a rather tame approach to this not calling for mandates per se even though he's had a fight with the courts on how far he can go, but urging americans to get vaccinated. so where does dr. anthony fauci
stand on forcing the issue in -- the issue? >> you know, i never liked the idea of forcing the issue, but the only thing, neil, that's important is that we know the importance of vaccination. we know the data are overwhelming in protecting people particularly against severe disease, hospitalization and certainly death. i would hope that even now as we enter into this new era of omicron that people would appreciate why it's so important. you know, you hear me talk a lot about boosters, neil, and the reason i do is that if you look at the vaccination, we were vaccinated against the original what we call ancestral wuhan strain. yet when you get antibodies from that vaccination and when you get boosterred, the level of protection spills over to delta, to alpha, to bay a that and very likely -- beta, and very likely
also to omicron -- neil: do we know that for sure, doctor? i know the fda is aiming for a speedy review of omicron vaccines and drugs, but do we know that the treatments that are already out there, the vaccines that are already out there the, the booster shots that are already out there the can address this? >> no. we are not -- i'm always honest with you, neil, we have not proven it in the field. but if you look at the level of antibodies that are induced by vaccine and by boost, literally within the next week or so, maybe a week to ten days we'll be able to assay those antibodies on the omicron strain the and the omicron variant. so we'll be able to know the level of the degree of neutralization. but if you make an extrapolation and look at vaccine-induced antibodies and even convalescent antibodies from being infected, when they go up, they do spill over to other variants.
so you can make an assumption that we will hopefully soon prove that as high you get with your response to a primary vaccination and a boost will have a beneficial effect in protecting you at least from severe disease from omicron. but we'll be able to prove that pretty quickly. neil: you know, here we are though post this pandemic or through this pandemic where only about 4 out of 10 americans have returned to work or returned to their physical offices. just today, doctor, we learned that google is pushing back their return from january to just indefinitely. leaving it open-ended. what do you think of that? >> well, i would like to see people get back to the workplace, you know? we were successful many getting the kids back to school which i think was a big step forward. no one wanted to see the children in virtual learning for a long period of time. we'd like to get people back to
the workplace. and again, neil, i just get back to what i'm saying. the easiest way to do that from the data we know is to get as many people vaccinatedded as we possibly and as many people who are fully vaccinated boosted. that will cut down on transmission, that will cut down more so on hospitalizations, severe disease. so if you want to keep people well enough so that they don't have to be absent from the workplace, that's the reason why we're pushing vaccination and boosters. neil: that's also why we're testing people coming into this country, you know, to see that they're covid safe and all of that. but one thing the i know you've been asked about this in the past, doctor, about what's happening at the border right now. we have about 18% of the migrant families here, 20% of unaccompanied minors testing positive for the covid. if you use the figure of 20,000 -- and that's a loose figure, doctor -- who have been apprehended, that could be up to
4,000 individuals who have covid. what do we do about that? >> you know, neil, i don't have an easy answer for that. i mean, obviously, title 42 the is still operable at the border trying to keep people who should not come in, into the country. there is testing that is done. i'm certain it's not as extends thive as we would like to see, but i have to admit, neil, i don't have an easy answer. that's a very difficult problem. neil: i'm just wondering though, would that -- if those numbers are, indeed, the case, it would dwarf whatever good we're trying to do at airports, right? just looking at the sheer numbers. >> yeah, but you know what i think is going to happen that's going to make this possibly a moot point? i think given what we know about the transmissibility and likely transmissibility advantage of omicron, we've seen that the in africa with the spikes that are going up. once it gets in there, it will
likely under the radar scheme be spreading no matter what you do to keep people out or not. that's the way viruses work. we saw that happen with delta. i do hope that omicron doesn't have that kind of advantage particularly if it turns out to be serious. the good news you mentioned is that even though you can make a full extrapolation based on a relatively small number of cases, we don't seem to see a signal of real severe disease though we need to get many, many, many more people to follow to determine the severity the of the disease. neil: you know, doctor, the many times we've talked in the past, you talk about you follow science. i think you acknowledge that the science can change. at first you dissuaded the public from, you know, buying masks back in the spring of 2020, you described of the risk of the covid to the u.s. later that year as minuscule. things change and science changes, to your point. but in answering some of the
criticism that you've received, you said i represent science. so are you saying there that your critics do not and that the they -- >> no. neil: -- don't have a clue? could you clarify that in. >> no, i wasn't being pejorative to anyone. and i'm certainly not -- i can take criticism, and i'm not being pejorative against critics. what i'm saying is if you look at what i'm talking about, neil, the only thing i'm saying is that it's important for people to get vaccinated because as a scientist and a physician and a public health person, i mean, it's very, very clear the extraordinary benefit of vaccine to protect you against infection, to protect you against severe disease, hospitalization and death. we also know that masks work. there are many, many studies now that talk about and actually prove the important preventive capability of masking.
and for that, i'm getting criticized by so many different sectors that are putting ad hominems against me. and when i say that, all i'm doing is talking science. so when you're coming at me with bullets and slings, i mean, what is it that you're criticizing? you're criticizing what i'm saying, and what i'm saying is public health-based and science-based. so that's what i meant when i said i represent scientific the principles -- scientific principles. and for people starting to criticize that, you have to come to the conclusion that they're criticizing the scientific principle. that's what i meant. i wasn't being pejorative the against anyone. neil: so the president still stands by you and what you're going doing or he wouldn't have made the reference that you're the president. i know he was joking. there's no change in that. >> no, not at all. not at all. neil: okay. i am curious as well about you
personally dealing with this. i mean, you were a rock star in the beginning when this was going on, sort of this buttoned-down health official telling people you're on top of it. then something changed with the controversy over the origins of all of this, what you knew, when you knew it. without getting into those details, have you gotten to the point where after dealing with this for the better part of two plus years to saying the hell with it, i'm done with this, i'm going to accept the down? >> no -- to step down? >> no, absolutely not, neil. and, you know, you talk about people put data out like he's this now popularity. i'm not running a popularity contest for myself. i'm a physician. i'm a scientist, and i'm a public health person. the only thing the i care about, neil, is helping to preserve and protect the health of the american public and indirectly in that regard since we're a leader in in the world, protecting the health and the safety of the entire world because that's what we do.
that's what i've done for the 50 years i've been a physician and for the almost 40 years that i've been the director of the institute. so whether people on one side or the other like me or don't like me, that's not relevant to me. what i do is i focus on my job, and that is to get us out of this pandemic which has already killed 780,000 americans. and i think all that other stuff, neil, is noise when they say they like him, they don't like him. some people are in favor of him or not. that is really meaningless stuff. my job is to help the american public, and that's the only thing i focus on. neil: so when your word was gospel in the very beginning, doctor, and people say, well, maybe he knew more about the origins of this than he let on or maybe the 180 on masks proves that, you know, he's not, you know, that fresh yet on all these things, on any level does that bug you, that a good number
of people who trusted you don't trust you as much now? >> no, i can understand how that's the case, but i think you have to admit, neil, that there really has been a considerable degree of politicization about all of this. and i have stayed out of politics for my entire career, but there's such divisiveness in the country that since i'm a visible person and i'm out this a lot trying to -- out there a lot trying to give the public health messages, i understand how i could be the target of criticism. like i said, it's not pleasant, i don't like it, but that's not going to deter me from what my primary job is, which i said, is really looking after the health of the american public. neil: so what does the american public, to what happens things up -- to wrap things up, doctor, have to look forward to? is the reality now whatever happens with this variant that it's going to be treated like the flu? that we're going to always have it around, annual shots, that sort of thing.
how to you see this sorting out? >> you know, neil, i don't have a definitive answer because we cannot know -- when you think about the infectious diseases, you think about pandemic level which we're at. then you have a deceleration when the cases come down, then you have variable degrees of control. you can have elimination or you could have eradication. and as i've said so often is that i don't think there's a chance you're going to eradicate this because we've only ed rad candidated one virus -- eradicated one virus to humans in history, and that's smallpox. elimination is tough. we've eliminated polio from this country, we've eliminated measles from this country. and we've done it by very effective vaccination campaignings. i'm not so sure we're going to be able to do that, at least not in the near future. that's aspirational. so what i'm thinking about is control. namely, a level of control that is well, well better than where we are right now because yesterday we had 95,000 new
cases. hospitalizations are still creeping up, the deaths are staying about level. but we've got to get that level much, much lower, neil, so that even though we don't eliminate it from the country, it is at such a low level that it doesn't interfere with our lives, our lifestyle, our economy, what we do with ourselves, that it's there in the background and when we get enough people protected either from getting infected already, getting vaccinated, getting boosted, that's where i think we're going to be. whether or not we're going to need a vaccine boost of some sort at intervals, i don't know. it's likely that will be the case. we do know that with the boosters we're giving now we're getting not only a higher level of immunity, we're getting more bredth of immunity which i believe may give us more duration. so better control is what i think we need to look for, and then we can get back to some
form of normal i to our lives. neil: yeah, let's hope so, right? dr. anthony fauci, a real pleasure having you, chief medical adviser to the president of the united states. we'll have more after this. you're a one-man stitchwork master. but your staffing plan needs to go up a size. you need to hire. i need indeed.
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...even walking was tough. my joints hurt. i was afraid things were going to get worse. i was always hiding, and that's just not me. not being there for my family, that hurt. woooo! i had to do something. i started cosentyx®. i'm feeling good. watch me. cosentyx helps people with psoriatic arthritis move, look, and feel better. it targets more than just joint pain and treats the multiple symptoms like joint swelling and tenderness, back pain, helps clear skin and helps stop further joint damage. don't use if you're allergic to cosentyx. before starting, get checked for tuberculosis. an increased risk of infections—some serious —and the lowered ability to fight them may occur. tell your doctor about an infection or symptoms or if you've had a vaccine or plan to. tell your doctor if your crohn's disease symptoms develop or worsen. serious allergic reactions may occur. it's good to be moving on. watch me. move, look, and feel better. ask your rheumatologist about cosentyx.
neil: all right. reaction to dr. anthony fauci and hope that whatever is happening with the omicron virus will be short-lived. we think news we're getting so far is favorable. let's get reaction from gerri willis, gary kaltbaum. gary, his idea that, look, we could lock everything down again, but we don't think that's necessary, onward and upward we go. what did you make of that? >> i think it's going to be all about how things move. the one thing about fauci, and i know he has his detractors and people compliment him, i think he moves with what the virus does, which i do think is his job. that's what i'm going to be the watching for going forward. for me with this the whole thing, neil, just in the last three months i have a neighbor didn't want to get the vaccine, he died. i have a gentleman that i used to meet with every week, same thing, and a father of my son's good friend, same thing. that's how i reacted to this whole thing. i got the booster.
i ran to the publix to get the vaccine initially, and you just keep fingers crossed that this is not going to be that bad and we can move forward because, boy, i'll tell you, it's really tiring. neil: to say the least. you know, gerri, obviously, our viewers love you do death through your reporting. you've been through some personal health, cancer, what have you, so you're in that immunocompromised group for whom this thing could be ted thely. you've been fully -- deadly. you've been fully vaccinated. dr. fauci is saying this is the something that could become an annual shot. how do you feel about that? >> i'm fine with that. if you can get a vaccine into the marketplace, i am a-okay with that. i would lo the see this eradicated, but as he just said, that's not likely. so if there are precaution their measures we can take, that's fantastic. and the news that the cd the c is actually going to speed up its approvals of these new vaccines that are targeting
omicron, that's fantastic. that's really good news because that the has been the achille's heel of the efforts. they've been slow to test americans, they're been slow to sequence the dna of these variants, and so this means that they're really going to go after this more quickly, and that that's what it's going to take in what is really the next turn of this which is more variants, more and different types of this really tragic problem that we've got that we've got to do the something to keep stores open, people on the streets, people going to work. you can't shut down this entire country forever because of this. neil: you know, gary, from that profound view from gerri who's just phenomenal, i'd like to talk about money. [laughter] and i'm wondering how much this is weighing on the markets. i understand the confusion if with the federal reserve and all, but i tend to think that the up and down nature, the volatility of these markets owing to the news last week,
last friday we fell 905 points on the dow have been all pretty much omicron-related. and i'm wondering if that continues to be the case, up when the news is favorable and promising, down when we get, you know, a move like the irish are taking to clamp down. what do you think? >> i think with the nasdaq it has to do a lot with the tightening. but you are right, you can just time the market right now to news that comes out. last night the futures sank like a stone as soon as you heard some people in new york got it, and i can guarantee you if we hear more and more people in the u.s. whether it's a big deal or not, whether they have the real bad infections or not, the market will react. and the reason why markets have memory, and they see what's happened over the last year and a half, two years especially when it first hit, the crash. there's always a shoot first, ask questions later to the
market. with something like this that could be deadly. so, again, it's just a mart of on a daily basis what we hear, who we hear it from and how bad it's going to get. and also the news of lockdowns. when you hear about austria, when you hear about some of these european countries saying you cannot come in unless you're vaccinated, a lot of this is changing up. markets have to deal with it. it's a pain in the rear end for people like me that do this for a living. neil: you know, gerri, it's interesting when people are polled on the subject of this variant, it's used as another i wouldn't say excuse, but a reason to be leery about returning to work if you're still working out of your home, etc. what do you think of that? >> well, so i was able to see the interview with the initial south african doctor who treated people who had this, and she said what she saw was not deeply concerning. people were sick, yes, were they
hour ill? no. horribly ill? no. that made me feel better, but i have to tell you i am taking every precaution i can. i wear masks when i can, i'm very careful especially on new york city streets, but at the end of day, i feel like you've got to do what you can personally do to protect yourself, your family and your community, but you have to go on with your life. i mean, that's my view. neil: and it doesn't hurt to remind folks of what's important. gerri, you are an incredible beacon of strength, so thank you for that. i want to thank gary gary kaltbs well. we'll have a lot more after this. again, we're trying to find out more about -- i wouldn't call it an irish shutdown, that they're taking a tougher stance with this out of an abundance of caution, but sometimes that can add to the angst. we're on that after this. ♪ ♪ and your family first.
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neil: we have heard a lot about these smash and grab crimes that are pretty much happening all across the country, particularly though out in california where it's pretty brazen and often times just in the middle of the day. christina coleman from los angeles with more. christina. >> reporter: hi, neil. yes, organized retail crime is a big concern here. we've herald from holiday shoppers and employees who are worried about their safe because of these large groups of thieves busting into stores. around thanksgiving between november 18th and november 28th, 11 smash and grab robberies happened in the los angeles area resulting in more than $338,000 in stolen property and more than 40,000 in property damage. fourteen suspects were arrested in connection to those robberies, but all 14 of those suspects are already back out on the streets fueling criticism that california is too the soft on crime.
take a listen to l.a. police chief michael moore. >> in the 14 arrested that have been -- arrests that have been made, all the suspects are out of custody either as a result of one juvenile or the others as the result of bailing out or no bail, zero bail criteria. >> reporter: moore says the zero bail policy is part of the state's court system's efforts to downsize their risk of covid in jails, but he and l.a. a's mayor both say criminals are taking advantage of this. >> zero bail poses challenges when their next court appearance is in march. >> we need help of our criminal justice system, of our judges, of our jailers. there are people who need to be the behind bars, and they need to be there. >> reporter: meantime the, in northern california dozens of suspects from large scale smash and grab robberies in the bay area are still at a large including from this november 20th incident where more than 80 suspects stole from a string of
high-end stores near san francisco. the fbi is providing assistance to a multijurisdictional task force led by lapd and the l.a. county sheriff's department to stop these crimes. neil? neil: christina coleman, thank you very much for that. if you think crime is a big issue for businesses just trying to deal with that, you should consider what's happening now certainly with supply chain and everything that you've heard of delays and higher prices. the guy in the middle of that is sal -- very good to have you. >> thank you, neil. neil: you're a company that deals with freight and all these issues. explain what it does and you you're affected. >> basically our company's a u.s. customs broker, so it basically handles freight from china, europe, south america, other countries -- neil: is it localized in one part of the country or all over? >> our freight comes in all over
the country, primarily new york and l.a. seaports. we're also u.s. customs brokers which basically facilitates on behalf of our clients, the importer. we help them ascertain the proper rules and regulations to comply with to bring product in. quasi like an accountant -- neil: to help them speed through the process. how does that stand right mow? >> the process itself stands, obviously, everyone's hearing about these bottlenecks and these terrible delays finish. neil: right. >> the christmas russia you may not get, you know, your child a toy that they want. i don't see that subsiding right now. neil: really? whose fault is that, by the way? >> you know,st the fault of various parties. not just one. first of all, it's the total influx that the system is overloaded. it's kind of like a clogged drain. everyone in the supply chain is trying to do their best. you have the longshoremen who are unloading ships, you have the ships that are about 70 in l.a. important sitting out there -- the.
neil: was that, like, coming out of the pandemic going from stop to 60 miles an hour finish. >> well, what happened is sometimes coming out of the pandemic it'ses up, and you had the -- it eases up, and then you had the chinese week where it shut down, so you didn't have as many containers coming to the u.s. however, several of potato lines got what's called a blank sailing when they took off some vessels. a by-product of that, obviously, is they want to sustain and keep the rates at a certain level. neil: so china's kind of gunning this. >> china, i believe, between with the tariffs and manipulating the currency, with the trump the tariffs that are referred to as the 301 tariffs, now you have these inflaked freight costs on top of that, consumer has not seen, in my opinion, what's coming down the pike. most of my mid-market companies have been absorbing most of
costs they can and not passing on to the consumer. neil: but they can't keep doing it. >> they cannot keep doing it. neil: so if you're right, the higher prices consumers have been stubbornly getting resistant to and not liking, they're going to continue. >> they're going to continue, they're going to get worse. but unfortunately, i feel that most of the mid-market companies who do not have the capital reserves of multibillion companies will not make it next year. the lending community's very concerned they've overadvancing these companies who -- this year just want to break even to appease their retail -- neil: you think they're going to take the rug out from under them? >> i think that the import community is overadvanced by learneds. the lenders are very -- lenders, the lenders are very concerned. and what about the seasonal goods, neil? you have goods coming in you're not going to use until next year, if you going to dump them to a major retarial or an outlet
story, or are you going to hold it for next year? incur more costs in warehouses which are already stratospheric because there's no space? it's a really dire situation, in my community. opinion. the lending community, the banks, they're concerned. you have to dramatically raise the prices, and if you don't, then, you know -- neil: game over. >> it's a game over. it's a very concerning situation. neil: best of luck trying to help them deal with that. trying to help them deal with that. >> we're an advocate for the middle-market companies, and what we co, basically, is utilize the customs rules, regulations to the best of our knowledge and let companies follow to implement and reduce their costs along the way. neil: got it. sal, thank you very much. something to keep in mind when you hear about how transitory all this is. if sal is right, and he's right
there on the front lines, doesn't seem very transitory to moi. okay, selloff continues on wall street. after this. ♪ ♪ ♪♪ care. it has the power to change the way we see things. ♪♪ it inspires us to go further. ♪♪ it has our back. and goes out of its way to help. ♪♪ when you start with care, you get a different kind of bank. truist. born to care.
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issues, americans are getting concerned. in a recent poll, 52% of americans see china as the biggest threat to national security. that's up from just under 40% in february. that's a huge jump. now 73 percent of respondents fear the u.s. will also fall behind china technologically with 23% specifically calling out artificial intelligence. now, u.s. government officials are also sounding the alarm over the rising power's investment in emerging technologies like hypersonic weapons, biotech and enhanced decryption abilities, and with china showing aggression towards taiwan, that could pose challenges in the near future. on top of that the, china's growing economics might mean dozens of public if figures overlook -- or apologize when their actions sometimes anger the chinese government. as an example, disney thanked chinese groups in the mulan credits, and the nba apologized after one of its players tweeted in protest.
so this weekend's summit is going to be a big focus and with china posing threats to us on economic and security threat, this may become a key issue for americans in the election. neil? neil: kelly, thank you very much for that. kelly o'grady following these developments at the reagan library. as you can see right now, the dow down about 235 points. interest rates, the hoest we've seen in about a year. we're following that and the collapse of yield on the 10-year note. stay with us. ♪ ♪ new projects means new project managers. you need to hire.
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guest: what what you have seen of the course of the last few days, is the announcement that alpacas going to put another 40t and think this is actually in some ways, good news because it shows that very in the actually think that the omicron virus is not actually going to have a huge effect on the economy in the world will continue to need a lot more oil as the economy comes back in the bad news however, is that the united states is still at about 1.6 million barrels a day down from where we were in 2019, and we need policy support so that we can because barrels back in the market from the united states not have to depend on opec for american supply printed. neil: but we are not doing that are we. guest: we are not, a lot of policies was just reason announce recently are going to undercut american production and they're talking about other policies that could continue to undercut american production including reimposing the oil export band which would actually
increase gasoline prices in the united states and be a gift to present and opec because the prices would rise over there for their kind of oil. neil: they seem to be willing to increase production and i think it somewhere in the vicinity of 400,000 barrels a day beginning in january but that is in their own self-interest i suspect. guest: while of course, there was act in their own self-interest but at the same time, we should be acting in our own self-interest and the means reversing all of these policies that have been put in place by the by the administration of course of the last few months and not doubling down on those bad policies which is what they are currently considering my reimposing the oil exports band that was in place during the carter administration. neil: soros all of this going pricewise and what can people look forward to another bump against coming with us will be lower gas prices we might welcome that.
guest: absolutely met at the same time we need to get american production back to where it needs to be and we were the world leader in oil and gas production in this country and we need to continue to have feedback or be that world leader because american leadership is needed throughout the world particularly from a national security perspective nail. neil: thank you mike very much, and you're the institute pricesare down across the boardy with us. when traders tell us how to make thinkorswim even better, we listen. like jack. he wanted a streamlined version he could access anywhere, no download necessary. and kim. she wanted to execute a pre-set trade strategy in seconds. so we gave 'em thinkorswim web. because platforms this innovative, aren't just made for traders - they're made by them.
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neil: we are just getting word that president biden might be talking to vladimir putin about the buildup along the ukrainian border the secretary of the state and already met with his counterpart and we will soon where that goes right now the dow down about 220 points, here is charles payne predict. charles: good afternoon everyone and i am charles payne this is printed with the markets right now are in rent of this disastrous november jobs report involve present biden tries to put a happy spin on it, it is a huge mess in the market spoke today, the faster the market dropped and a lot of troubling issues that are now boiling over into full view is when he might take away in this jobs work in this market coming right up. plus it is been an easy way for the ultra celebrities to make millions even millions of dollars but the ipo,