tv Mornings With Maria Bartiromo FOX Business December 15, 2021 6:00am-9:00am EST
and they made it happen. not just for themselves but for their family too. and that's really what the american dream is about. not just providing for yourself, but working hard for the people you love. in america dreams and dream homes still come true. maria: good wednesday morning, everyone. thank you very much for joining us. 6:00 a.m. on the east coast. down to the wire, congress votes to increase the nation's borrowing limit and avoids a debt default just hours before the deadline. plus coming up, the federal reserve speaks, the central bank closing two-day meeting today with final monetary policy decision of the year. markets this morning are higher. take a look at futures indicating gain at the start of trading for the dow industrials, dow up
up 50 points on the session. s&p 500 higher by 3 and nasdaq lower by 20 after stocks fells way down by high inflation report and omicron variant uncertainty. the dow industrials all said and done, down 107 points, nasdaq down 175, better than 1% lower and the s&p 500 down 3 quarters of 1%. european markets this morning look like this. you have economic data out of the uk, the november consumer price index there up there 7 tenths of a percent. inflation an issue in the uk as well. ftse 100 down 20 points, cac up 48 and the dax index higher by 53. in asia overnight, mixed story hong kong the worst performer, hang seng index down 1% on the session, mornings with maria live right
now. maria: morning mover, legend biottech falling, almost down 8% as the company sells therapy offered $300 million worth of ads shares which are held by a u.s. bank and made available for purchase by u.s. investors. the company also collaborating with johnson & johnson on new cancer drug. it has been shown 98% response rate on cancer. it is one day after the hot inflation report yesterday. the producer price index as we reported up up 9.6% on an annualized basis in the month of november. this is the highest number in -- 11 years,
joining me right now is penn chief investment offer matt and dagen mcdowell and fox news contributor joe concha. mark, kicking tings off with you, the hot number yesterday really worst than a lot of people expected at 9.6% annually. what do you make of that and impact on the macro story? >> good morning, maria, thank you again for having me on the show. so yesterday inflation print was very troubling and clearly the equity markets did not like the news and, you know, fed chair powell and the rest of the federal reserve have been focused on trying to push the inflation levels above 2%, just behind shift in 2019 toward average inflation targeting and now that they've gotten inflation above 2%, maybe case of
be careful what you wish for but clearly with ppi running double digits and cpi close to 7%, that's troubling. i will say the bond market pricing seems incredibly disconnected with what's going on with inflation as the ten-year treasury yield is close to its pre-pandemic lows before 1 and a half percent. a lot of mixed signals are being sent by the bond market but fed chair powell, i think is in a position now where they will have to catch up with regard to monetary policy because he's been intentionally running behind the inflation curve. >> so how will they catch up then, mark, obviously the federal reserve is going to continue the two-day meeting today. we will hear from the fed today at 2:00 p.m. eastern as it closes out the last meeting to have year. are you expecting 2 interest rate hikes in 2022, are you expecting a significant impact of the tapering back every month of its stimulus?
>> well, doubling of the amount of taper per month is basically priced into markets today and clearly that's been a quick turnaround with just over a month ago that they announced to cut back purchases by $15 billion a month. clearly the fed is getting nervous so we do expect a faster timeline to taper, and i think will be the primary area of focus. the basically was split at the september meeting whether liftoff from zero in 2022 and '23, the clearly the markets are pricing a much faster liftoff today. we would expect three hikes. next year i do think the fed will have to work hard to catch up. maria: yeah, let me bring in dagen mcdowell, mark, because i know that you feel like the fed has a lot of explaining to do and, dagen, i thought it was really funny when jay powell testifiedon testified acouple of weeks.
dagen: i thought you were going the say retired, he's been renominated to run for another term by joe biden but be careful what you wish for whether it's jay powell or biden because the fed is staring at having to tame inflation and after historic expansion, kind of historic like pumping of money into the economy, they've got to rein in i nation while not creating an economy and not bursting asset bubbles here there and everywhere and i -- it's really an impossible task. maria: mark, what do you think? what will he say today in the press conference about all of this? >> i do think he will have a lot of explaining to do as dagen mentioned. so, you know, it has been an incredible
u-turn and their sort of dialogue with inflation. i think he does expect inflation to maryland rate in the second half of next year but i will say the inflation headlines, i think, are point of trouble for the biden administration, so, you know, i think that he will likely be facing political pressure somewhat ironically to raise interest rates at this point because i do think inflation headlines have been lightly recently. maria: all right, mark, we will leave it there. 30-year treasury yield, below 1 and a half percent mark. mark joining us this morning on the macro story and the fed this afternoon. we are just getting started this morning, coming up cleanup efforts are underway this morning after the devastating tornadoes in the south, what residents want to hear from president biden during his visit later today to kentucky and then the supply chain crisis takes aim at one of america's favorite foods, yes, not creme cheese, the popular item
that can be harder to find at the grocery store coming up. we will tell you all about the sectors and stocks you should be watching in the next hour in the word on wall street. don't miss a moment of it. you're watching mornings with maria live on fox business. we will be right back. ♪ ♪ ♪ ♪ ♪ hey, tam-tam! i was thinking maybe... your mom's car? ♪ ♪ ♪ ♪ merry christmas, dad.
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report later coming up in this hour. jen psaki left speechless yesterday when asked about president biden's greatest foreign policy achievement. >> biggest achievement. >> this is a great question. i want to talk to the president about it. maria: yes, be thoughtful. so far left americans behind during botched withdrawal from afghanistan. he's isolated key ally france and he's continuing to steal intellectual property and surveil america. biden has also refused to ask xi jinping about the origins of the pandemic. biden has allowed russia to build up thousands of took place along the russia-ukraine border. a few thoughts. china's economy meanwhile taking a hit
last month amid property market slump and weak consumption recovery, consumer spending is showing new signs of a sluggish recovery. slowdown prompting beijing to change policy direction ordering more fiscal spending in 2022 and the central bank easing monetary policy. some economists say more stimulus might be needed but the chinese economy, the second largest in the world will have an impact across the world. beijing's moves are in contrast with the united states with the federal reserve is expected to speed up tapering, asset purchases as inflation skyrockets in the united states. the president stopped by the national democrat committee party last night maintaining, quote, confidence in the democrats in the midterm 2022 elections. >> we have to keep making the case and if we do, i believe that we are going to win. let me say for the press, we are going to win in 2022. [cheers and applause] maria: yeah, nancy pelosi also fawning over the president saying,
quote, he's the perfect president. he's just perfect to handle challenges facing the country. dagen mcdowell, president biden's job approval ratings have been sinking all year. we are now at a record low. is this confident misplaced, what do you think nancy pelosi is talking about? dagen: i think that joe biden and nancy pelosi should have stayed at home and not gone on to the party so all the democrats can talk mean behind their backs because you know that's what many of them are thinking because the democrats are doomed when it comes to the midterm elections given -- it's a long way away. the republicans can't get cocky of what will happen in november. wrong track, right track almost two-thirds of voters think the country is on the wrong track and a lot of it has to do with not just the policies, economic regulatory disaster in afghanistan but the fact that biden and company
at every turn stand in front of the american people and lie to their faces and expect them to gobble it up like gruel and it's offensive and people know it and wages are declining when adjusting for inflation and all of this inflation that makes americans regardless of who they voted for last year so angry it is -- inflation was purely caused by reckless fiscal and monetary policy, period, that's all on biden. >> i think you make a great point. if they would just be honest and acknowledge what's going on, 9.6%, maybe we won't aggressively push through and bully, you know, senator who is do not agree this massive spending tax plan but that's not what they're doing and, you know, the lies are just beyond the border is closed, no it isn't, it's paid for, no it isn't, 3 trillion to the deficit, your thoughts, joe?
joe: the president can't say up on stage, we are doomed, game over man, game over. it's like being the coach of the new york jets or giants for that matter. you know you're going to lose but you have to say the right thing beforehand anyway, back to reality and megyn made the point, here is the deal, democrats will lose 50 to maybe 70 seats in the midterms and obama lost 63, wages are down, skyrocketing and being the antiparent party on education. we saw what happened in virginia. the democratic party has almost nothing positive. trump isn't on the ballot. game over. maria: the approval ratings when handling the economy, dagen, it's all the way down to 21% on president biden and kamala harris is also at
28%. i don't know where he's getting the word confidence that he's going to win in 2022. dagen: he's just thinking of what his midnight snack will be at this point. maria: short break p. congress votes to raise the debt ceiling by 2 and a half billion dollars. twitter fight over taxes and why elon musk is going after senator elizabeth warren now. his new nickname for her is the hot topic buzz of the morning. stay with us. ♪ ♪ ♪
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caucus. buddy carter, thank you very much. if the republicans were going to pave the way for the democrats to raise the debt ceiling, couldn't the republicans have gotten something for it, for example, a cap in spending in 2022? what are we going to do, just keep spending money and keep raising the debt limit and kicking it down the road so our kids and their kids have to pay massive tacks throughout their lives because they're cleaning up this debt? >> well, that's a great point and in the past that is exactly what has happened. we have been able to negotiate and actually gain from this and keep in mind now, this deal was made in the senate. this is not something that the house had to do as far as raising the debt ceiling allowing them to do that. maria: you're right. >> evidently the only thing that mitch mcconnell and senate leadership want today get out of it was the fact that no republicans in the senate voted for
it. well, as you noted, we did have one republican, our republican in name who voted for it in the house, but, look, we are not going to be part of it in the house. this is not to pay for existing debt. this is to pay for their socialist infrastructure plan and -- and build back broke plan. so this is not for existing debt. maria: so what did you make of president biden last night at the holiday party, the democrat holiday party? he says he's confident that the democrats will win in 2022. congressman: he must know something that some of us don't know and i love the analogy of the york jets and new york giants and you say the right things because that's evidently what he's doing. we are going to see a republican control of the house, i hope it will be of the senate as well and i'm expecting it to be but this is lying up to be quite a
great victory for republicans and for freedom and for americans' freedom. maria: congressman, yesterday jen psaki was asked if she could identify what they are seeing as the president's most significant or biggest accomplishment as it relates to foreign policy in 2021 and jen psaki answered by saying, well, great question, i want to talk to the president. i want to be thoughtful about it. i don't know what she's going to come up but i know the failures include the border, the wide open border not only has brought 2 million people to america this year who have been arrested but has also enabled 600,000 others to get away.
protection officers in texas seized over $3 million worth of methamphetamine over the weekend. this is from two different incidents. bridge from mexico to texas. 191 pounds of meth hidden inside. then there's fentanyl. texas department of public seized 800 pounds of fentanyl alone. that's enough to kill 200 million americans. congressman, what is going on? a hundred thousand people dead largely because of fentanyl. has the president acknowledged elicit drug as a result of wide open borders? >> no. they totally ignored it. they're not going to put up with it anymore. we have to secure our border and we have to stop this illegal drug flow coming across our border. it is infesting our communities and killing americans. maria: next time your colleagues in the house want to go along with the democrats and vote for something like an infrastructure package, maybe they should try to get something for it and say, well, if you want our vote, we want acknowledgment that the elicit drugs are coming over the border and human trafficking and the border is wait open. there's nothing like that at all in any of the negotiations, congressman. so i'm stumped by that. but before you go, you're coming to us from georgia. i want to get your take on the georgia election. 2022 is one of those races that we are going to see big change. what's your take on stacey abrams running for governor and now you
have david perdue trying to unseat brian kemp. your thoughts on the governor's race in georgia? >> well, first of all, stacey abrams represents the values of the average georgia citizen about like the man on the moon. the last thing that we need is stacey abrams in the governor's mansion. we are going to have a bloody primary, perdue and brian kemp but what we have to emphasize after the primary we have to unify as republicans and we have to make certain that a republican candidate gets into the governor's mansion. maria: all right, congressman, good to see you this morning. thanks very much, buddy carter, we will keep following all of that, congressman buddy carter. quick break, chinese president xi jinping meeting with russian president vladimir putin today, what it means for u.s. foreign policy going forward, the two adversaries meeting together. then a grocery staple in short supply, popular feed getting harder to
maria: welcome back, good wednesday morning, everybody. thanks so much for joining us. i'm maria bartiromo and it is wednesday december 15th, t market this is half an hour. futures are really just edging by down about a point on the dow. s&p down 5 points, nasdaq right now down 57. this is a pretty much a reversal of gains earlier ahead of this ending to have two-day federal reserve policy meeting today. we will hear from the fed at 2:00 p.m. eastern on on its plan for tapering and perhaps interest rate hikes next year. this after a decline yesterday on the hot inflation report and the uncertainty over the omicron variant, dow industrials down 106, s&p lower by 35. european markets this morning are also mixed, uk november consumer price index came out this morning. it was audiotape 7 tenths of a percent month over month.
5.1% year over year in the uk, not as bad as what we saw in america yesterday with that 9.6% inflation rate in the u.s. on the producer price index. check asian markets overnight, hong kong was the worst performer, as you can see the others fractionally moving. back in the u.s. vice president kamala harris' approval rating tanking and taking another hit. cheryl casone with the details now, cheryl. cheryl: less than half of registered voters approve of the job that vice president harris is doing in her office right now that's according to new hill harris poll. the vice president is failing grade comes amid on going crisis at the southern border not to mention the rumors of tensions between her office and the presidents and reports of a toxic work environment. so far four of the vice president's staffers have quit. well, amtrak is backtracking on its vaccine mandate. ceo bill flynn allowing weekly testing as
alternative to a shot. self-imposed deadline of january 4 would have prevented it from operating all of its scheduled train routes. reported 95% of a track, 180,000 employees are fully vaccinated at this point. well, american airlines is looking to hire 18,000 workers next year as the travel industry rebounds in a post pandemic world, this coming hours after ceo is set to testify before on flight disruptions which the airlines are blaming on staffing shortages and weather and hired 16,000 employees so far this year after mass layoffs in 2020. there is american in the premarket right now, maria, and it is up just a fraction of a percent right now and those are some of your headlines from here. back over to you. >> all right, cheryl, thank you so much. president biden to visit two of the hardest hit, 88 people killed across
six states as a result of the massive storms but as people rebuild their lives thousands are stepping up to provide support, grady trimble covering the story live this morning in mayfield, kentucky and he joins us now, grady, good morning to you. reporter: good morning, maria, the destruction here is at a scale. you can really only begin to understand by seeing it firsthand and that is exactly what president biden will do here today. the people here are in dire need. we visited relief site yesterday where survivors were picking up the most basic of necessities, the houses here that are still standing in mayfield, they don't have running water so they were picking up cases of water, nonperishable food items. all of the basic necessities that they need to survive right now. we spoke with people about what they hope president biden takes away from his visit here today. >> i hope he realizes --
we need all the help that we can get and prayers above all. >> that we are all just totally devastated behind this and that hopefully they can get us the resources that we do need to get our town back together. reporter: major corporations like wal-mart, tyson foods and lowes are stepping up to help the people here in kentucky and the fiver other states ravaged by the tornadoes. additionally, kentucky's famous bourbon distillers are donating to be auctioned off and all of the money will go to victims and the survivors of these tornadoes and the governor here in kentucky says individuals have stepped up in a big way. 66,000 people have donated to the state's official fund, the total amount of those donations at last checked, nearly $10 million, maria, they need all of the help that they can get here.
maria: they sure do and our hearts and condolences go out to all of the people in kentucky and these states. grady, thanks very much. so gratified to hear all of the money raised. two of the biggest adversaries meeting today, vladimir putin and xi jinping holding a virtual summit to discus, quote, aggressive rhetoric from the united states. this follows separate sit-downs and what president biden at the democracy summit. both putin and xi critical of the united states. joining me right now hudson institute senior fellow rebecca heinrich, thank you very much for being here. what do you expect out of the summit between putin and xi jinping? >> first of all, this is a nightmare scenario to see the countries continuing to collaborate more and more especially in the military domain and as you mentioned both countries opposed president biden's
democracy summit. in fact, the chinese ambassador and the russian ambassador co-authored a piece together opposing the democracy summit. so china is the bigger brother in this relationship. russia is the younger brother always trying to collaborate more with china, china plays it cool. so any time that you see these two in the room having conversations, it's concerning and, again, in the context of their continued military cooperation, so who knows what's going to come out of it but the fact that they're demonstrating this increase in closeness, it's something that the united states has to keep an eye on. of course, it's hard enough dealing just with china, just with russia but the two of them together would be a nightmare scenario for the united states. maria: well, it's unbelievable because both of them have sort of their finger on the pulse of what they are going to do next. you've got the ccp flying jets into taiwan's air defense space, record number of jets, by the way. then you've got russia building up troops in the border of ukraine so
who knows when they are going to do whatever they want to do there but what should president biden have done? i mean, the last ten months, jen psaki says she needs time to talk to the president to come up with a success he's had on foreign policy. she says she wants to be, quote, thoughtful about it. is there any success whatsoever to speak of foreign policy wise and where were the biggest mistakes, of course, the botched withdrawal from afghanistan comes to mind. >> right, foreign policy has been a disaster for joe biden, of course, a disaster. all of his foreign policy positions have been terrible for the last several decades. the afghanistan withdrawal was completely reckless. obviously that has communicated to russia that now might be a time to make a move against ukraine. joe biden greenlighted the north stream pipeline, something that gives russia a much stronger hand. basically the biden administration looked the other way when russia conducted the antisatellite test that
spewed the debris and, of course, with china, they are trying to have it both ways and they want to be tough on china then they don't want to be too tough on china to start scaring people and i don't think they have been near enough. you may not block us out of the indo pacific. it's been very weak and has communicated to both allies and to adversaries that the united states is really reallyweak in the united states and new time for adversaries to make a move. maria: at a minimum maybe there should have been a comment after xi jinping decided to storm into hong kong and throw everybody in jail, the freedom fighters in jail like jimmy lai and maybe there should have been a comment to xi jinping congressmen 800,000 americans died of covid to try to understand the origins of covid-19 since all of the circumstantial evidence points to a lab in
wuhan, china that this virus escaped. maybe biden should have brought up once in the four phone calls that we had with xi jinping why they are refusing to have investigators go into wuhan to find out what happened here so that we do not have a pandemic but, no, none of that has happened. meanwhile secretary of state antony blinken warning china to stop aggressive action in trip to southeast asia and u.s. plans to build partners in asia to push back in the indo pacific but the u.s. isn't trying to force countries to choose between it and china. chinese foreign ministry calling blinken's comments contradictory saying the u.s. is playing the so-called china threat. rebecca, they are laughing their thoughts off when they are talking about the united states, read the global times, mouthpiece of china the way they taunt the united states every
day. >> that's right. i just recently had had a private meeting with a delegate from allay country who said the united states isn't leading, nobody knows what's going on, everybody is confused and this is a perfect example where antony blinken, he says, we don't want to do this. we want to be tough on china but we will not make allies and partners choose between the two powers. we should. this is a rivalry. maria: i know. >> we need to start talking to people an communicating to other countries, you either want a china-led world or u.s.-led world with allies and partners that are prodemocracy, prohuman dignity and probusiness and those are the choices. and so anthony blinken is being too cute about it and it's dangerous. you have to be clear. china and russia continue to watch and learn from each other what they can get away, what they can, do what cyber-attacks can they conduct with and get away in which the united states do not do
anything about it. i told them which things they weren't supposed to hit. yeah. the list goes on all the way. maria: i'm glad that you mentioned this because another thing that didn't come up in four phone calls with xi jinping, continued surveillance of american citizens as well as the cyber-attacks. meanwhile the administration says it's ready to blacklist 8 more chinese companies over the surveillance of the uighurs in the xixang region. dji, largest drone manufacturer. last time i looked dji, the yates was buying drones from the dji. i don't get this. the u.s. is saying they want to blacklist the companies because they are doing business in xixang and surveilling the uighurs but yet many
of the companies, they are shell companies and subsidiaries of those are still in index funds and americans are still buying the stocks and that means american citizens are actually funding the expansion of the ccp as it has been vocal in terms of becoming the number 1 super power overtaking the united states. real quick, rebecca, your comments? >> that's exactly right and as antony blinken did note, there's no differentiation between a private company and military companies. the drones are dangerous. they can surveil uighurs, you better believe they are surveilling the united states if they're in the united states. maria: of course. >> we need start having a much larger line here. maria: i don't think it's going to happen under this president, rebecca heinrichs, we will keep a spotlight. we will tell you why that popular item could be harder to find, your next trip to the grocery
running into a big problem, not enough cream cheese. the restaurant chain known as the home of new york's best cheesecake says demand has skyrocketed up over 43% this year but there are not enough workers at dairy plants to keep up. just last week juniors had to pause cheesecake production at new york baking facility because there wasn't enough creme cheese. joining us to tell us the owner of junior cheesecake alan rosen, tell me how you're dealing with it. >> well, we are dealing with it on a day by day basis. we are as good as yesterday's delivery because we go through about 40,000 pounds of cream cheese every other day. so yesterday was a good day. maria: hey, you know, we had lydia yesterday saying chief makes pies, why not replace creme cheese with racotta.
>> we could make italian cheesecake, but it makes it a lot more difficult what people have come to know and expect from juniors is new york style cheesecake which is 85% cream cheese, steve touch of vanilla but if lydia would like me to bake her one, i would be happy to and one for you, maria. maria: i would like that. i know that you're in a shortage right now. how come we are seeing a shortage of cream cheese, how did this all start? >> out of covid we have seen shortage of plastics, paper goods and now cream cheese. cream cheese directly, i think there's two things. one, there's not enough labor in the manufacturing plants which is the late onset of removing the unemployment benefits were certainly a part of that. people just sort of coming out of covid in different capacity, different feelings about how they want to work or
not work and so that and increased demand. our own demand as you pointed out is up 43% and we are over 4 million pounds already this year. so we could be a little victim of our own success. maria: we have been talking all week, all day about inflation, 9.6% annualized yesterday. i know that your costs have gone up. how much have you raised prices and are you expecting to raise prices further in the new year? >> so we are putting through for our retail customers, we are at 8,000 super markets, we are putting at 3% increase this year. it is not going to be enough to cover the increases we have seen. we added the number the other day and cost of goods increased, you know, just is way higher than what we are increasing prices. so it's going to be, you know, to our income statement next year, there's nothing that we can do. you can't raise prices enough to cover up for what's going on in this country.
maria: yeah, and then, of course, there's the vaccine mandates, new york city mayor bill de blasio issued vaccine mandate for all employers, four days before he leaves office, alan. four locations throughout the big apple, how is your store handling the big mandate and how does that lay on a new element for you? >> we were given many months ago -- as restaurants we were open, some reason restaurants were singled out of places that needed to be vaccinated. we had to force for lack of a better terms 100% compliance or we were going to lose employers in the 30 some years of running the company. we are 100% compliant because restaurants had to do this many, many months ago. maria: any other issues as a result of the supply chain crisis and the lack of drivers,
truck drivers who are not going back to work because of the policy that you mentioned as cream cheese? >> whether it's a plastic dome that we put a cheesecake in that is going to cosco or a box that's going to one of our retailers, one of the most problematic 12 months that we have ever experienced. we are waiting for deliveries at certain times because the factories can't keep up. out of covid demand very strong fortunate and a lot of manufacturers have chosen us not us. we have managed to go up head count. we have over 190 employees just in our bakery allen and to keep up production flowing regardless of all the -- i will call them bumps or hiccups but it has been a very charging year on the supply side.
maria: sure, alan, what is one of those cheesecakes going to cost me? >> well, depends where you buy it. if you buy it at retailers, 10 to $16. if you buy in one of our stores anywhere from 16 to $50 and if you buy it from mail order we ship direct to home, maria, which you have very little time to get shipping in. sixty dollars plus shipping. maria: yeah, i want the real thing. i want the cream cheese in my cake, alan. i will be watching. yeah. >> thank you, nice seeing you. have a hope holiday. maria: alan rosen, happy holidays to you. thank you so much for being here, alan. good luck with the cream cheese, we will be right back, stay with us. ♪ ♪ ♪
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truist. born to care. maria: welcome back. time for the hot topic buzz. elon musk and senator elizabeth warren going at it on twitter in a public tussle, the senator first tweeting this, quote, let's change the rig the tax code so the person of the year will actually pay taxes and stop free loading off everybody else, that's in reference to the tesla chief, elon musk who is man of the year for time magazine. he fires back, he says to her, stop projecting the next day, adding ultimate insult, quote, please don't call the manager on me, senator karen. dagen, what do you think? dagen: does this socialist from
massachusetts actually read the news? elon musk has been selling stock because he owes at least $3.5 billion in taxes. and leave it to this communist to attack one of the greatest entrepreneurs to come along who is an immigrant in the united states who created tesla and spacex and the build back better plan, by the way, gives generous handouts to chevy and the bolt for union made electric vehicles, a company that the taxpayers already bailed out. she needs to take take a seat and pipe down. i agree with elon musk. maria: i mean, it's unbelievable, though. i mean, when you think about that plan because you're right, you could get a benefit if you have an electric vehicle but only if unions produced it, not nonunion shops, crazy. dagen and joe, stay right there. the next hour of "mornings with
maria" begins right now. ♪ maria: good wednesday morning, everyone. thanks so much for joining us. i'm maria bartiromo. it it wednesday, december 15th. congress votes to increase the nation's borrowing limit and avoids a debt default hours before the deadline. what you need to know this morning, coming up. the federal reserve speaks, one more time in 2021. the central bank closing its two day t meeting today with a final monetary policy decision of the year. we're on it all morning long. we'll hear from the fed today at 2:00 p.m. eastern. markets this morning are searching for direction ahead of the fed's speech. the dow industrials are up 2 points, s&p down 1 and a quarter, nasdaq lower by 28, after stocks fell yesterday weighed down by the hot inflation report an uncertainty over the omicron variant. as you can see, yesterday the dow was down 106, nasdaq was
down 175, worst performer down 1%. in europe this morning, the u.k. november consumer price index is out. european markets are mixed. the u.k. cpi was up 7-tenths of a percent month over month. the ft 100 is down 16. the cac is up 44, the dax is higher by 42. in asia overnight a mixed story, hong kong was the worst performer, the hang seng down just over as you can see about 1%. "mornings with maria" is live right now. and now some of the top stories we are watching this morning. president biden will travel to kentucky later today to survey the damage left by deadly tornadoes that ripped through at least six states. officials report 74 people were killed. in kentucky alone, including 12 children with dozens others injured. res crew cue efforts -- rescue efforts are underway, 100 people are missing this morning. we'll have a live report of coming up later on in the hour. meanwhile, china's economy taking a hit last month amid the
property market slump and weak consumption recovery. factory production rose in november but consumer spending is showing signs of a sluggish recovery. the slowdown prompted beijing to change policy direction, ordering more fiscal spending in 2022 and the central bank easing monetary policy. some economists say more stimulus may be needed. it is in contrast with the united states where the federal reserve is expected to speed up tapering, forcing the fed to move on interest rates sooner than expected. google is putting employees on notice to comply with the vaccine policy or lose your job, a company memo shows employees had until december 3rd to share their medical status. those who don't comply will be placed on paid administrative leave for 30 days, after that they will be paid on unpaid leave followed by termination. they are looking for employees
to return to the office for a couple days a week in 2022. time for the word on wall street, top investors watching your money. joining me now is the fitz-gerald group principal, keith fitzgerald, and joel shulman. thank you so much for being here p. going, kicking things off with you, ahead of the fed meeting we've got futures mixed today after that inflation data yesterday showed the highest inflation on the producer level in 40 years, the producer price index up 9.6% annualized in november, the highest number there in 11 years. the highest number on the consumer level in 40 years. it comes as the federal reserve holds the last policy meeting of the year, the central bank is expected to headline the inflation story at that meeting and begin raising interest rates and wind down the bond buying program. your thoughts on what we will hear from the fed today? sure. good morning, maria. i mean, inflation is running
wild here and we all see it. the 2021 story, though, coming from washington has been transitory from the chairman of the fed and from the administration, their solution seems to be more spending. right? so i think consumers here are left scratching their heads. and we're hopeful that today chair powell will make a pivot, at least in terms of language. he has certainly signaled that we expect him to follow through on that and you have covered this inflation dynamic throughout the course of 2021 better really than anyone. so we'll start with the statement. right. transitory out the door, we spoke about that i think last month saying this term needs to leave, short-term and longer term and it will. so the fed will come up with another phrase in terms of inflation being i think a little bit longer and staying around a little bit longer than expected
but ultimately they expect inflationary numbers to come down. we do expect the fed to speed up the pace of taper. it's long overdue. we've been talking to clients now for six months. these emergency asset purchases need to go. so if they double that purchase, that taper number, we will -- that will lead us into march, right before the march meeting. it gives the fed a little optionality and then the summary of economic projections obviously we're going to see a lower unemployment rate, we're going to see inflation pick up but we're also going to see inflation pick up with more expectations of rate increases. so we think it's likely today you'll see from the fed -- i'm sorry, go ahead, maria. maria: please continue. go ahead. >> sure. well, i think it's likely we see today two to three rate increases in 2022 but we think overall pool of where the fed gets to right now they have call it 6 to 6 and-a-half in september, we think that pool of
overall rate increases will grow and then in the presser obviously powell will be questioned about these rate increases and in addition to that we think the balance sheet. maria: yeah. and we want to know how this is going to impact the macro story as well as the investor class also. joel, what about that? we had new data showing a slowdown in consumer activity, retail sales were down, fell 3.9% last month. residential property sales dropped 20% from a year earlier, joel. this puts some pressure on beijing to start supporting growth in china. the economic numbers in china show a decline, even as the consumer seems pretty strong in the united states. what's the impact? >> right. well, this is i think the big story that's really not getting enough attention, that the impact of -- many economists are missing on the impact of china's growth and slowdown and what it means for the global growth economy and also what it means for future inflation globally. i mean, we have to remember that
china purchases 50% of global commodities and some of these commodities like steel, iron ore and aluminum have been dropping quite a bit since september, october. so they're coming down. and in fact, when we look at distressed debt, 50% of all the dollar denominated distressed debt is now in china. they've got an extraordinary real estate market that has driven their growth by 10 to 15%, their gdp 10 to 15% of their gdp is based on real estate. as that comes down, crashing down, because they've got a lot of vacant properties, that's going to reverberate throughout the world, depression on global prices for the materials and we're going to see a significant effect in how it slows down global growth in the u.s. and other markets and europe and so forth. and so this is a big story i think that's coming up. go ahead, maria. maria: are you seeing any flows
out of etfs that hold china as a result of this? >> yeah, no question about it. i mean, the adrs lost over a trillion dollars in 2021. and we've basically eliminated all our holdings in china over the last year or so and we're seeing many other money managers reducing their exposure to china. now, there's some people who think it's a great opportunity but i don't see that. i see this marketing to he decline. maria: yeah. and there's also a national security issue there. we know that. why would any american investor want to fund the expansion of the chinese communist party by investing in chinese stocks right now knowing what we know about this adversary. keith, you say money managers cluster around big names this time of the year because they don't want -- because they want bigger bonuses. what do you mean by that? tell us your picks and what you see investors doing at year-end here. >> absolutely, maria. it's the oldest game in the book. if they want the payout they've got to have the big names
because clients are going to be asking when companies like apple and tesla have huge runs, why aren't these names on my list. so what happens towards the end of the year is they tend to engage in a little window dressing, they tend to catch up to make sure those names are there combo us in time. right now, that makes sense for individual investor because that's where you're going to find stability. apple makes $3,000 in net income every second, it makes $10.8 million every hour, they've got plenty of pricing power, they can pass to the consumer, especially going into the holidays. starbucks is a company i look at right now. people have been cooped up for so long. people want that little bit of luxury. even if they're going to pay 6, 7, $8 for a cup of coffee. that to me is a great company, it's hard to argue with 55,000 locations that are going to be opened within the next few years. that's where i think the money is going, that's where it's going to stay toward the end of the year and will power higher
in 2022 if the fed can deal with things today. maria: does it value that pap e is close to a $3 billion level today. >> not at all. last january, long before it became in vogue, to me this is normal. the pivot that apple is making alone is three times the global iphone market within the next few years, factor in big data and virtual reality, it's going to go a lot higher. maria: it's a great point. keith fitzgerald, gregory and joel shulman, great word on wall street, guys. thanks very much. terrific conversation. we'll see you soon. have a good day, gentlemen. much more ahead this morning. coming up, cleanup is underway right now after the devastating tornadoes in the south. what residents want to hear from president biden when he visits kentucky today. and then thousands of migrants flooding the arizona border towns. wait until you hear what's going on in yuma, why one sheriff says the border is, quote, worse than it's ever been. joining the conversation all morning long this morning dagen
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only pay for what you need. ♪ liberty, liberty, liberty, liberty ♪ maria: welcome back. white house press secretary jen psaki left speechless yesterday when she was asked what is president biden's greatest foreign policy achievement. watch. >> what does the administration consider your biggest achievement in foreign policy in the first year. >> this is a great question. i want to be thoughtful about it. i want to talk to the president about it. maria: yeah. let's be thoughtful. okay. so far, president biden has left hundreds of americans behind enemy lines during a botched withdrawal out of afghanistan, he isolated a key ally, france with a defense deal, he failed to address china, bullying its neighbors in the south china sea, continuing to steal intellectual property from the united states while refusing to
ask xi jinping about the origins of covid-19. he has allowed russia to build up thousands of troops along the russia/ukraine border. joe, it shouldn't be too hard to get thoughtful regarding what has taken place with foreign policy this year. your thoughts? joe: ms. psaki will have to circle back on this. it's a thing with the white house press secretary. because to your point, if we're doing multiple choice here as far as our options, what her biggest -- her boss' biggest foreign policy achievement has been, you mentioned afghanistan where mr. biden is polling in 20s in his handling of that deball kell, china, he has not challenged xi jinping as far as the origins of covid, while taiwan is looking very nice for china after the olympics, the winter olympics next year and then obviously being tough on russia and putin which we heard so much about during the campaign, while allowing nord stream 2 to be completed, making russia a major energy player in europe, while 100,000 russian
troops are amassed on the ukraine border. i would the take d, none of the above, another area like inflation, crime and the border where the president is failing miserably. maria: unbelievable. the crime story is just beyond. what do you think, do you think she'll circle back on that? dagen: because she couldn't name one. she has to say, well, this is what buy thinks. to joe's point i will take the energy issue one step further it's not just about the nord stream 2 pipeline. it is the fact that biden starting on day one in office has taken a chainsaw to our energy economic. it is our greatest economic strength or it was until he got ahold of it but it also gave us incredible strength on the world stage. so he has handed power through basically reducing our production here, allowing prices to skyrocket. he has handed power to nations
that hate us, that want to wipe us off the map, whether it's iran, whether it's russia. i think that is his greatest defeat on the world stable. maria: what do you think is worse, do you think the foreign policy crisis is the worst policy? do you think the policy around defunding the police and crime and easy das creating this crime spike across the country is the worst or do you think the economic policy is the biggest crisis which has stoked all of this inflation. dagen: when you talk about oil, you're talking about the economic crisis and the foreign policy crisis at the same time. so i just pick energy and oil. it's just a nightmare. and then crime, that's kind of left wing lunatics from top to bottom starting at the president, all the way down to these district attorneys. maria: yeah. right. not just joe biden. good news, we have avoided a default. we'll take a break. congress voted to raise the
borrowing limit by 2 and-a-half trillion dollars. tennessee congressman chuck fleischman will weigh in with the impact on that and what else gets done by year end. stay with us. ♪ [engine humming] [clapping] “we will rock you” by queen ♪ the new gmc sierra with hands-free driving offers the most advanced and luxurious pick-up in its class. ♪ yeah, it rocks. (vo) t-mobile for business helps small business owners
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bringing the total limit to a whopping $31.5 trillion, this vote mostly along party lines, although illinois' adam kinzinger being the only republican to vote with the democrats. the bill now heads to president biden's desk. joining me rights now is tennessee congressman chuck fleischman, a member of the appropriations committee. it's good to see you this morning. >> good morning, maria. maria: your thoughts on what we got as a result of lifting the borrowing limit again. do you get any promise from your colleagues on the left that there would be some kind of a spending cap in place since we're talking about all of this record debt? >> not at all. unfortunately, my colleagues on the other side of the aisle have absolutely no sense of fiscal responsibility whatsoever. the sad truth is the national debt, which now exceeds 30 trill trillion dollars, is not of
concern to them. they have other concerns which are misplaced, ideologically and in their policies and what we're seeing right now is those ill effects affecting the american people economically, abroad and otherwise. maria: you know, we're hearing from the american people in these polls. i mean, joe biden and kamala harris' polls are at record lows, 28%. we are looking at the debt as you say now above $30 trillion and inflation soaring to a 40-year high. so they see what we see. i mean, they see the inflation numbers. they see the economy slowing. and yet they're not slowing down in terms of pushing more money out and borrowing even more money. jen psaki, the white house press secretary, is blaming big corporations for inflation. watch this. >> i think that the -- the president thinks the way people across the country, american
families digest inflation is by price increases and if you look at industry to industry, it's a little different. so for example, the president, the secretary of agriculture both spoken to what we see as the greed of meat conglomerates. the prices are higher. that is in his view and the view of the secretary of agriculture because of you could call it corporate greed, sure. maria: corporate greed, congressman. she's blaming a conglomerate of meat companies on meat prices up. joe biden is suggesting oil companies are to blame for a 50% move in oil prices and gasoline year over year. there's absolutely no accountability here from their policy. >> well, sadly the democrats in the house and the senate and in the white house have a completely different world and economic view from our side of the aisle.
the they don't understand basic economics. in the prior administration we saw unprecedented growth across the board, our economy was doing well. we were a net exporter of oil. things were going well. from day one, joe biden and his minions have taken us in the wrong direction and let's face it. whether it's the white house press secretary or any democrat right now, they cannot message abject failure. they can try but they can't do it. the american people know better. take a trip to the grocery store, take a trip to the gas pump, they're getting it wrong. it's up to the american people to get it back and the most important thing i think we need to do in this country is make sure that we get back to valuing the free enterprise system, valuing capitalism and all of its benefits. maria: real quick before you go, congressman, i know that in the build back better plan there are a whole host of taxes on small and -- small business and
family owned businesses. you've introduced a bipartisan bill to help small business navigate the supply chain crisis. tell me about that and do you expect that build back better plan to become law at some point in 2022? >> i hope so, maria. in this crazy world that we're in right now, there is a glimmer of hope and this bill championed by senator blackburn and myself on the republican side, senator menendez and actually representative torres on the democrat side, we have bipartisan side, republican and democrat, house and a senate. i hope the white house wakes up and sees the need for supply chain correction right now. this bill will allow american manufacturers the ability to have access to information that will help supply chain sluggishness and miscues. it's a good bill. it's a bipartisan bill and we need it. yeah. maria: we certainly need it now. but real quick, what i had asked you is do you think build back
better becomes law in 2022. real quick? ?>> i hope and pray not. this is one of the worst bills in american history right now. we've got to fight it. the american people need to stand up and realize the things that are in it will hurt this country, not only short-term, but long term in terms of deficits and putting part of that horrible left wing agenda into the permanent fabric of american life. we don't need it. it needs to be stopped. maria: it's good to see you this morning. we'll be watching all of that. chuck fleischman joining us this morning in d.c. thank you, sir. >> merry christmas. maria: and to you. thousands of migrants are flooding the arizona border towns now. we told you about yuma months ago. now one sheriff says this border is, quote, the worst that it's ever been. he'll join me next. ♪ ♪ ♪ ♪
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hosting platform rumble. cheryl casone with the details right now. cheryl: that is right, maria. good morning again. trump media and technology group announcing the partnership, saying it chose rumble because it doesn't discriminate against political ideology, adding it launched the social media platform on the rumble cloud. this move coming the same day rumble announced it was terminating its relationship with unruly group and tremor international, alleging the video advertising company attempted to censor conservative commentators. the niemann marcus is exploring the possibility of splitting up the company, it would be separated into three businesses, splitting up the website, the stores and bergdorf goodman. customers should not see much of a change in their shopping experience. earlier this year niemann marcus
hired jp morgan to explore a possible sale. oj simpson is no longer on parole, after the nevada parole board ended the on gas station to the state. -- obligation to the state. he was convicted for a las vegas kidnapping and armed robbery in 2007 and he was sent to prison at the time. he is most remembered for his 1995 trial over the murder of his ex-wife and her friend. his parole was scheduled to end february 9th. those are some of your headlines from here, maria. back over to you. maria: all right, cheryl, thank you so much. meanwhile, president biden is set to visit two of the hardest hit areas of kentucky later today, that follows last weekend's deadly tornadoes. at least 88 people were killed across six states. grady tremble is covering the story, live this morning in mayfield, kentucky with more. grady, good morning to you. >> reporter: good morning, maria. the tornado that moved through here caused all this destruction in a matter of three minutes.
that's according to a new timeline of the tornado's route from the national weather service. we've been talking to people here in town, though, and had they vow to rebuild but they've asked where do we even begin and it turns out that the path to rebuilding starts with heavy machinery in mayfield, knocking down damaged buildings because most of them are not salvageable a. people from all a over the country, they've been moved by these pictures and videos in mayfield and elsewhere that were hit by these tornadoes and they're donating in large numbers. governor andy beshear say people have he donated almost $10 million to the state's official fund and now he says what they need is toys. >> yesterday my wife, the first lady, announced a toy drive. and you could see how hard this has been on her, being a mom
just like i'm a dad of two kids. and knowing what a difficult christmas this is going to be for them. let's shower these kids in gifts. >> reporter: large corporations are also stepping in to help out. companies like walmart, lowes, home depot and tyson foods have all announced some sort of donation, whether it's food and meals or monetary donations. maria, this is the backdrop for president biden's visit today. he will see firsthand the damage here in mayfield as well as dawsons springs, about an a hour east of here, another extremely hard-hit area of kentucky. maria: so sad and so incredible, grady. thanks very much, grady is in mayfield this morning. grady tremble. arizona meanwhile becoming the latest hot spot for illegal migrant crossings. we told you this several months ago when we took the show to the border. now border patrol agents finding
six migrants in camoflague clothing hiding in the back of a hearse. two u.s. citizens were arrested a after they were accused of smuggling them into the state. joining us now is sheriff lamb. thank you for being here. i took the show on the road earlier this year. i was told that yuma, arizona was blowing up, that there were so many encounters of illegals in yuma. can you tell us what you're seeing on the ground in arizona. >> this is the worst we've ever seen it. it was bad under obama but it's atrocious under joe biden. we're seeing human and drug trafficking is off the charts. it's not something that just affects texas and arizona. it affects every american in america because those people that are trafficked in and the drugs are not designed to stay here in arizona. they're going to go other places. yuma is getting hammered. we're not even right on the border, we're 50 miles off the border but we catch people every
day. maria: so tell me what they're doing. i know that a lot of the got-aways are going into arizona. one of my border patrol sources told me that they see hundreds of thousands of got-aways on surveillance video and oftentimes they go and they wait in arizona. i know yuma is the hardest hit city to see this surge of illegal migrants. yuma sector border patrol agents reported more than 2,600 encounters just from friday to monday. that was a weekend, 2600 illegals. what else can you tell us? >> well, yeah, in october they apprehended 164,000 people. that's over 5,000 people a day. plus there was 49,000 got-aways. my county had -- everybody who comes to my county is in cam cam camoflague clothes. they're not here to claim asylum. one of our interdictes, our k-9
guys had seven traffic stops yesterday, all were human load vehicles. we have three deputies per shift that work that area. we have a pursuit every day where people run from us. yeah, this is a big problem. we as sheriffs are standing against it. maria: i think we need to start talking about social media. social media is enabling this, right? a lot of these mexican cartels they go on things like tiktok and facebook and they say we need a get-away car. you've got teenagers answering the call. american citizens being the get-away drivers, picking them up at the border, driving them into arizona or driving them into houston, texas. are you seeing that as well? >> yeah. they make about $800 per person. let's make no mistake. although social media is enabling them, it's joe biden's administration that is enabling these people. and the cartels to make more money than they've ever made before. the federal government -- and
it's not the line level guys. those guys are doing a great job. the federal government is failing the american people. we sheriffs are fed up. we are standing against it. join us at protectamerica.com. we battle it every day. the federal government has completely dropped the ball. maria: it's unbelievable. tell me what it means for people of arizona. sheriff, i know that the border towns are completely different than they were just a year ago. i mean, when i went to houston i was astounded, 400,000 new people in houston, some of the biggest businesses there are businesses that create fake documents. they're doing really well because all these people are getting fake documents. what are the people who were born and living in arizona feeling about their own neighborhoods right now. give us some color on how arizona is different today. >> yeah, maria. you're right. the as a as people are disgusted with this but really the american people should be disgusted. i watched a video the other day
where somebody was asking these illegal as they were coming across the border what states they were planning to go to. they never once mentioned arizona. every state was an inland state or of florida or california. what happens in my backyard today is going to be in your backyard tomorrow, america. and that includes fentanyl. how do i explain it to a mom who loses her 15-year-old daughter, the first time she takes a fentanyl pill or dad who finds her 20-year-old daughter in the shower dead from a fentanyl overdose. this is affecting american families not only in arizona but all across america and we as americans should stand up against this and let our federal government know how disgusted we are with with them. maria: the illicit narcotics is an incredible story. we've already seen 100,000 overdose deaths largely due to fentanyl. i know u.s. customs and border patrol agents seized more than $3 million worth of meth. that's just in two separate
weekend busts. this is in two weekends. in both seizures, 20-year-old american citizens reportedly transported the drugs from mexico. they're getting paid to be the get-away cars. when it comes to fentanyl, we know techs adps seized 88 pounds just this year, enough to kill 200 million americans, sheriff. how are they doing it? and why are they pushing fentanyl through the country? i know the underlying components of fentanyl are made in china. so of course given how much studying i've done on china, it raises my red flags. i'm thinking what is the ccp doing, trying to kill us all off. what is the point of pushing fentanyl this dangerous drug that kills with just a spec, a salt spec kills you, why is that coming into our borders? >> because china and the cartels don't care about american people. they don't care if they kill their customers. what they want, that want us to be docile and controllable.
you can see it with what the government tries to do every day, about trying to control every aspect of our lives. people are under control when they're add indicted to drugs. -- addicted to drugs. they push the fentanyl pills because they know as americans we're likely to take pills. you see our kids, middle age, elderly taking the pills, overdosing and dying from it and those other countries don't care. they don't care about american lives. frankly, our federal government appears to not care either. so we care. we care. that's why we fight every day. i know my partners in yuma and texas we're all fighting every day. maria: yeah. this is just one more question that joe biden could have asked on the four phone calls he had with xi jinping, he could have asked why are you pushing fentanyl into america? why are the underlying components of this deadly drug being made in china and ending up on the streets of new york, the streets of yuma, the streets
of boston, et cetera. but he didn't. he didn't ask xi jinping. at all. >> yeah. maria: i know what you're up against. thank you so much for your work on the ground. please thank your team for us, for protecting america. we appreciate it. we know these drugs take two days to get to big cities like boston, chicago and new york. sheriff mark lamb joining us this morning. quick break and then the sports e-commerce market is growing, why now could be a good time to invest in it. we'll take a look. tune into fox business prime tonight, american gold, the legend of bear gulch starts at 8:00 p.m. eastern, followed by the pursuit with john rich at 9:00 p.m. you're watching "mornings with maria" live on fox business. we'll be right back. ♪ ♪ ♪ hey google. ♪ ♪ ♪
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maria: welcome back. berlin based sports e-commerce business will begin trading on the new york stock exchange, follows the acquisition of wiggle crc, creating the world's largest online bike platform. joining us now, ceo stefan zole. great to have you. congratulations on listing at the new york stock exchange. how's business going. >> thank you, maria. thank you for having me. business is doing great. we're very, very happy today obviously with our first day of
listing. we have gross proceeds of $484 million, that now will allow our growth strategy to move forward, so very, very happy today. maria: tell me about the bike business. how has the supply chain crisis impacted your business? i know that many bikes are made in china. have you seen a logjam? >> yes, we have seen a little bit of that. as we are the largest bike retailer, e-tailor in the world, we're affected less so than our competitors but we have seen it especially in the second half of the year and the supply chain we believe will normalize likely in the second half of next year. as we look forward -- sorry. maria: please continue. >> if you look forward a little bit, when the shorter term supply chain disruptions are behind us, we are fortunate to be in a market, not just in bike, but all four categories that are very, very affected by long-term drivers and growth drivers like people want to be
more active, right, stay healthy, stay fit and hedges hey stay engaged in activity. trackers, cameras, make you more active. more e-bikes coming to market with people complimenting mobility mix with biking, in europe specifically but also in the u.s. more and more and consumers now switching from offline more and more to online in the sports world so we see a lot of these trends helping us, giving us a lot of tail wind for our market and for us. maria: you're right. i personally love biking. i bike all the time and that's one thing that i know about because it's something that i love to do for all of those reasons, whether it's snowing or sunny out, i'm on my bike as you see here. what have you done as a result of this supply chain issue in terms of your products? are you raising prices? are you needing to get supplies from different vendors?
how have you dealt with it? >> so we obviously have a lot of mitigation in place, right. you mentioned some. a, we went to other vendors to get more bikes in. that's limited. that's not compensated entirely but to degree. b, we have sold other products and c, we increased our own brand portfolio and increased our share in that. all of these things are helping us. overall a, they haven't overcompensated for the supply chain crisis we see right now in the short term. maria: what about the road ahead, stefan? what kind of price increases are you expecting on bikes and some of your other sports equipment? >> we've seen certain -- more in the single digit percentage areas of price increases, some slight double digits, not too massive at this point in time. we will see how that evolves. we'll try to not pass it onto consumer as much as we can but we have to balance it out.
on the other hand, vat might change for biking for sustainable products. i don't know about the u.s. right now but in europe that might help us as well to kind of if you wish mitigate the price pressure that's building up. maria: yeah. that's a very good point about the vat. stefan, real quick before you go, let me get your the take on business in 2022. what kind of a year are you expecting now that you're going to be going public? what do you do with that money to continue this growth story? >> so we continue to focus on our organic growth which has been super strong the last year, more than 25% -- cagr. we have acquired seven companies in the last four years. we look for great companies that can fit and be part of our group and we continue to invest in our technology platform, right when supply chain things are behind us, we can get out of the gate, running double strong with our
strong positions that we have in our market. maria: all right. keep on trekking. good to see you, stefan. thanks very much. best wishes today, a big day for you and your company. >> thanks, maria. thank you. maria: all right. cigna sports united. coming up, cuomo is forced to pay up, the disgraced new york governor forced to return the money from his big book deal. we'll get into it in this morning's hot topic buzz. stay with us. ♪ (man) still asleep. (woman vo) so, where to next? (vo) reflect on the past, celebrate the future. season's greetings from audi.
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. maria: welcome back, time for hot topic buzz former governor of new york andrew cuomo being ordered to return the money more than 5 million dollars, that he received, from his pandemic book deal there is a book. thinks committee ruled it was a violation that he used state resources and a staffers to put this book together last year. spokes concern calling it quote political hypocrisy what doufrn to return five million. dagen: i call it justice michael goodwin writes in "new york post" today also that this is proof, that nobody fears andy cuomo any longer a 12 to one vote by joint commission on public ethics, he used to throw weight around has a for dictates people were
afraid of him because he was a bully would attack people behind their backs now he is gone people don't -- they are not in fear of him his little brother chris gone he is not of any use to cnn and jeff zucker, why they have him sticking around when he was -- well irretrievably stupid this is brother was probably age for higher office there were rumors about andy cuomo recently going to try to run for governor again tun for attorney general, leticia james is dropping out mou cuomo a comer again he is not a comer he is a goner callous, entitled -- stone-cold morons the two of them i am excited that maybe we won't see them
for a while. maria: joe what do you think? >> i have to follow that okay, i will try. that was excellent dagen when people asked why governor top aides cover-up nursing home death numbers we know to secure five-million-dollar book deal cuomo was negotiating in the middle 56 pandemic 70% approval rating, highest of career life right time to write a book wrong time bad news nursing homes coming out this is to dagen's word justice love gov needs to hand money back over disgraced more disgraced in the form of andrew cuomo. maria: i don't understand why he do not use comfort ship why do not he put seniors on the comfort ship president trump organized to have ship right there? dagen: he didn't care at the end of the day he doesn't like i said callous he do notcare that elderly people have died in nursing homes he only cared
about his own reputation. and that is why he lied about it, even blamed fox news and "new york post," for the problems and deaths that he created. maria: unbelievable dagen joe stay right there next hour of "mornings with maria" begins right now. . maria: good wednesday morning thanks for joining us now, third hour of the program i am maria bartiromo it is wednesday, december 15 top stories right now 8:00 a.m. on the east coast, down to the wire, congress voting to raise the u.s. debt ceiling the the borrowing limit by 2 1/2 trillion dollars hours before deadline, a central bank closing two-day meeting today on the final monetary policy decision of the year. we will hear he from jay powell 2 pm eastern, see if that moves markets on inflation interest rate hike
comments, markets searching for direction ahead of the result of this meeting dow industrials down 22, s&p 500 just flipped into positive territory by a fraction nasdaq lower by 12 after downer yesterday agency well stocks weighed down by hot inflation report where we saw ppi running at 9.6% annualized rate uncertainty over omicron variant an issue down at close nasdaq down 175 better than 1%, s&p 500 down 34, all major indices are still showing very strong gains for the year 2021, european markets mixed economic data out of uk nefb consumer price index up 7/10 of a percent month-over-month up 5.1% year-over-year ft 100 down 17 cac quarante paris up 50 points dax higher by 54 in asia overnight mixed hong kong worst performer hang seng down about 1% on the session.
"mornings with maria" is live right now. maria: your morning movers first up check out eli lilly stock this morning is up, after company raised full year 2021 forecast from profit and sales stock up 5% right now, higher revenue expectations from government contracts with covid-19 antibody treatment looking forward to 2022 setting goals earnings revenue above estimates that is stock moving this morning take a look at u.s. listed chinese stocks alibaba baidu web sito falling in response to black list chaipz companies 8 more listed. >> d.j. itechnology one of the largest drone makers in the world we have reported in the past united states, has brought drones in process of buying drones from dji, a chinese company lawmaker have
to answer for that chinese stocks mostly lower futures flat wait on federal reserve meeting wait to hear a shift in policy today, as we head toward interest hikes next year a lot of analysts this morning are putting their expectations down on paper for rate hyperboling in 2022, 23 and beyond, mark zandi also all morning long dagen mcdowell, and joe concha mark great to see you. thanks very much for joining the conversation, what are you expecting, out of the federal reserve today. >> well, they are going to turn more aggressive tell us going to wind down bond-buying or quantitative easing quickly probably get it done by march next year then, lay the foundation for rate hikes i expect that we will see two or three he quarter point rate hikes in 2022. so, they are going to pull forward all the normalization of policy, that they've been planning to do bring it forward because of higher
rates of inflation strong rates of growth he we've been experiencing. >> inflation today 2 pm eastern let's see what is said whether or not it movers markets my question to you is wouldn't this massive spend and tax plan the democrats are trying to get through, stoke even more inflation? >> omar, no i don't think that the "build back better" agenda the legislation really, with regard to inflation, you know a bit to groekt 2022 particularly towards second half of the year not enough to stoke inflation, there are is to many factors that are going to influence inflation at that point in time, and as you look further out this is legislation he most about long term economic growth as you look further out, you know, there is crosscurrents, it helps to lift you are long term growth edge off
inflation, certain types of social programs might raise inflation the net of that, going to vote for legislation or not vote for legislation not because of inflation, that is not an issue. maria: well, a lot of people disagree here is wage senator john barrasso joined me on "sunday morning futures" his comments about "build back better" agenda, watch. >> this will break the back of the american people, with taxes, with spending, with all mandates people will end up paying more for just about everything, it will make inflation worse taxes will go up, all the experts will tell us, that at least a third of middle america will pay more in taxes, and the impact of inflation, on people's lives now, whether you want to call it a hidden tax or not, people's paychecks are not keeping up people are hurting and the biden policies made it worse. maria: mark you think that the wage senator is incorrect?
>> yeah, i i mean there is a lot to unpack there, of course, maria, but, you know, i think, the key point here is that the inflation we are observing high inflation, nothing to do with fiscal policy nothing to do with "build back better" agenda . maria: a i can't, that is just not true mark we know what happened when 1.9 trillion-dollar covid plan was enabling people to stay home they stayed home do not go back to work, they were waiting on government checks. now within the "build back better" plan there are a lot of tax increases not just for the rich you've got tax increases on small business family-owned businesses so i ask you i guess mark going into 2022 where we've got inflation which is, acting as a tax on people disappearing disposable income federal reserve set to raise interest rates going to make things more expensive why pay higher
taxes with country is strained by all of that. >> "build back better" agenda, is about lifting long-term economic growth through raising labor force participation, lowering cost of work making it easier for people particularly, women, low income households. maria: a higher taxes how do higher taxes do that mark? there are higher taxes on small business, many you lawmakers i have spoken with say the administration has already broken the promise that they can't raise taxes on anybody making 400,000 dollars or less, they have already broken that how does that mean lower costs if i am as citizen carrying higher interest rates higher inflation zaping wages i am going to pay higher taxes. >> about lowering childcare costs elder comforts however, costs health care costs allowing people to get back to work you have to pay for it the way to pay is raising taxes on large corporations
multi nationals wealthy high income individuals yes going to raise taxes on are corporations, also to pay for social programs tax credits that go to lower middle american households the net of all of that, positive, negative, the net of all that, is to lift long-term labor force participation combined with infrastructure bill will raise long term productivity growth economic growth the "build back better" agenda are is not -- >> we have evidence we do have evidence of a tax cut we do have evidence of a tax cut president trump's legislation in 2017 having lists many boats as a result of the tax cuts back in 2017 the lowest earners seeing highest increases in wages but mark you hit on something earlier, i want to get back to it. you are saying that this is going to help people one group definitely helps are rich people in new york, new jersey
california why raise salt deduction have rest of small business family-owned businesses are going to face higher taxes you've got new york, new jersey and california, enjoying the -- the increase in the salt deduction. how does that make sense? >> i agree with you, i am not fan of that part of the proposal, it if it makes it through obviously, still being negotiated a lot of -- moving parts, so we will see if that gets through i don't think there is a lot of -- some supporter for that, but not a whole lot of into are for that so, if cherry-pick aspects of the plan yeah parts, if i were king for a day i wouldn't do the net of it a neither positive for economy we can debate inflation what is causing inflation now i don't think "build back better" legislation going to impact the economy a year from now i think -- anything to do with inflation today it has everything to do with pooend disruptions supply chains labor markets caused by the pandemic. maria: you constant blame
everything on pandemic, in march joe biden passed legislation, in pandemic related plan 1.9 trillion dollars, in that, checks were going out, to average americans and as a result of all those checks people stopped going to work, so, you it is a direct line to what happened in terms of the labor shortage one issue the definition of inflation tomb dollars chasing too few goods more dollars five trillion dollars, i don't know why not honest in terms of giving us the real comfort of this, cbo committee for responsible budget tell us he same thing this plan is 4.he 89 trillion dollars in trochtsdz adding 3 -- how does joe biden get away saying paid for tree. >> it is paid for -- those -- >> not paid for it is adding three trillion dollars to deficit not paid for that is not true. >> "build back better" proposal the 1.75 trillion
that is paid for, you thinking a bigger numbers. maria: not paid for cause -- there are gimmicks in it saying that programs go away in a year do you really think a child tax credit that their fighting over is going away after year one? >> ho yeah, i do if not good policy it will, and even if they renew it the option and they will, to -- >> why do it one year why do it for one year instead of a plan that lasts 10 years -- >> they are paying for it now, so why do you think they won't pay for it in future. >> they're not paying for it you are raising taxes they are raising taxes that is not paying for it that is using somebody else's money there is no regard whatever for american people money 86 billion dollars -- weapons in us afghanistan a hundred million dollars materials to build a wall left for dead in texas raising taxes on everybody is there no regard for american citizens more than you can't say it is paid for it is just made for by
american citizens. >> uh ye, i mean you can being pay for o government policy either through tax increases, or you can pay for it through cutting spending one or the other. maria: how about cutting spending a new idea there is a new idea cut spending. >> you think, maria if you think good policy, many people do, that you know providing help for childcare for other care issue affordable housing shortage if you think good policies you think you need to pay for it don't want to deficits and zebt you need to pay for it, weelt individuals in "build back better" or spending you have to do arithmetic just accounting so we have a society. maria: it is all just math mark good tough you i know, it is not paid for it is 4.9
trillion dollars, and going to add three trillion not deficit i get that i understand unfortunately now is probably not time to push higher taxes on area given the fact we've got all inflation worries, as well as higher interest rates on the horizon. that is all i am saying 2022 probably not right time to raise taxes, adding one more pressure to the american family's pocketbooks. >> you know reasonable to make maria here is another point i make about inflation in "build back better" legislation, for he lowering income americans pushing going to be lower getting help with health care with housing with childcare elder care education inflation rate, high income higher -- jo jo we don't know for sure mark i will say this, on all of those people, they are just comingoff an increase by 50%, in price of gasoline, that is
also due to policy, higher gasoline prices food prices up in double digits, hotels you name it, prices are up, so that with low-income families coming off a period where you are right they need help, mark, thank you so much for all of this we appreciate the debate we will be right back. . p ♪ ♪ hey, tam-tam! i was thinking maybe... your mom's car? ♪ ♪ ♪ ♪ merry christmas, dad. ok, let's talk about those changes to your financial plan. bill, mary? hey... it's our former broker carl. carl, say hi to nina, our schwab financial consultant. hm... i know how difficult these calls can be. not with schwab.
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gold. your strategic advantage. . maria: a welcome back from with defunding police to refunding police san francisco anniversary to help concur biden the growing crime rate more of overtime findsing for police getting rid of vai kay shawns, after promising to reinvest 120 million dollars from the police budget back into communities she was very articulate dagen you used to live in san francisco on it is a different place i think from
when you lived there. dagen: it was hellhole when i lived there, now it is -- particularly with, london breed the mayor, the district attorney there kind of one-two punch from the will have the wing "luniverse" sent the city do a downward spiral what happened to detroit that you have your tax base starts to leave the rich folks don't even live for the most part in san francisco they live in the valley. so you have people leaving not going to tolerate it anymore tax base drivers up you don't have enough to fund your ginormous government that you've blown up because you are a literal i don't know where this goes i pray for people ho to live there don't have a choice they do something about crime here. they are and then here we've got a new -- police commissioner she comes from
nassau county, adams incoming mayor put this woman grew up in queens i think great hope for this city get tough on crime it's not hard. maria: do you have thoughts? >> london breed to wake up after months every skyrocketing crime drugs homelessness destroying one of the most beautiful cities on planet i have been there like dagen not much different than new york city, chicago, los angeles dozens across the country democrats maria own this crime wave because they supported mostly peaceful rites during summer of love in 2020 party proposed defunding police like minneapolis, portland americans see what is happening tv screens smartphones daily nooilt basis a recess for disaster in 2022 and 2024. maria: people lives at risk
talking about, 12 a democrat led cities having milestone record highs in murders this year 12 cities have reached record murder nushz break china increasing military spending why aren't we in the united states, as u.s. wants to fight off these adversaries we are not doing anything about it senator tommy tuberville will weigh in stay with us. . ♪ ♪ ♪ hey google. ♪ ♪ ♪ ♪ ♪ ♪
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or visit an xfinity store to learn how our switch squad makes switching fast and easy this holiday season. maria: welcome back, china hitting the gas ones defense spending u.s. pumps brakes last decade united states increased defense spending by 9.4% compared to china 139% increase all this as senate gets ready to vote on national defense authorization act joining me right now alabama senator tommy tuberville a member armed services veterans affairs agriculture academy i want to know what we've been doing in terms of defense spending i do not think we've he lifted defense spendsing the way numbers suggest, where are we in terms of defense spending right now in bernie sanders' budget. >> well, you are exactly
right, joe biden's budget was 25 to 30 to 40 billion dollars less than we all wanted, that is not just for republicans that is democrats also armed services committee we burned have up 25 billion dollars, and we are still behind, the spending what have china has, but shows you the importance to chuck schumer where military is at we finished this in july should have been done a couple months ago even democrats on his side couldn't get him to bring it to the floor we have a problem huge problems, china, russia, iran, today i just saw on your show china and russia had a summit, xi jinping, theyp weren't trading christmas presents talking about what is best avenue for us to over councilman united states of america we've got to put best for at forward hypersonic high lazers to did he have military we've got to be better because
china is way ahead of us in a lot of different things we got to show them that we're in the fight we're going to fight along with them. maria: senator we're not. okay? so we know that china defense spending in last decade is more than what several countries have spent, combined and, yet, we've got we've got more money being raised for things like the green economy, other domestic proposals the only two areas that did not get any increase in spending was defense, and homeland security. -- can you explain that to me? that, you know, if you raise defense spending 1.7% that is a decline, given the level of inflation, defense and homeland two areas in joe biden's budget bernie sanders' budget not seeing increase in spending. >> good as we could get in this bill we pushed, pushed,
pushed they ins that but spending billions of dollars on climate change spending billions of ev cars plug-ins billions on more irs agents we don't have the money we have over spent we continue to over spend they just -- jumped the debt limit-up 2.5 trillion i promise you not going to military they do not like military they do not like -- funding our police at home they do not like our borders, if they would get do that on military would really help everything not just within our country but outside our country what we did in afghanistan allies ukraine last few months taiwan asking what in the world is going on in united states of america in terms of foreign policy. maria: i mean i know that ccp wants to overtake united states, as number one superpower. does biden administration expect it to do that is that what we are doing waiting for china to overtake united states since not increasing
our defense at all? >> we're getting a little bit of strong talk out of white house. but that is all it is. it is talk. people in taiwan are scared to death they should be the people in first island chain japan philippines scared to death ukrainians i had lunch with president of ukraine a couple months ago talk to generals russia all over their borders taken over black sea has to be more than talk if we are going to do sanctions best do sanctions better not wait better start doing them now we are going to wait too late we do not want to enter a conflict can't afford it don't want it american people don't want it we have to show strength now, and not wait later. maria: i am not sure if the economic crisis that is worse or the foreign policy crisis we're talking about senator i know you are on it thanks very much for being here, for he abbreviated interview please come back soon november retail sales hitting tape we want to
check on november story for u.s. economy cheryl chefrl with numbers right now. cheryl: coming in on headline for november retail sales gain .3%, that was month-over-month weaker than expected strip out ought a gain .3% we are expecting gain .9% for sales, this is inflation story maria so looking for year-over-year number those are two big numbers looking at to be clear also revised october to 1.8% in october onerouslyly 1.7% that is a little bit interesting, autos slight revision, gain 7% as well con seasons u.s. looking for for imports gain 7% big number right there again retail sales came in again weaker than expected, maria, as far as
empire state december empire state manufacturing business 31.9 looking for 25 good news back to you a little bit stronger on new york federal -- fed manufacturing, a little change in markets back to you. maria: well a november retail sales number much weaker in an expected as you say up 3/10 of a percent versus estimate 8/10 of% dagen mcdowell a question in you've got consumer spending part of the story weakening, this was one of the best parts of the economic story, because people had all that pent-up money that they were saving during the pandemic. that inflation, retail sales weaker than expected. dagen: looks like beginning of stagflation a slowing economy inflation picking up one of the biggest problems inflation eating into wage gains, that wages, for rank
and file workers have actually fallen i .7% this year adjusting for inflation people -- not able to keep up, and so, that would would be potentially part of the story, of course, inflation, is you know you see is factored into the -- you have overall, prices inflate that can inflate overall sales number, but the this is not an economy that he is necessarily got it all going for it as someone on another network said with strongest economy in how long we just now balderdash. maria: right, that is funny looking at inflation number of areas insurance among them may not have noticed but your insurance premiums could be on rise as well. as technology, changes the entire industry, we will talk with ceo aflac coming up, and what he is doings to stay
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>> welcome back. america insurance company off a flak growing in this environment, looking to keep that going in 2022. in addition to selling supplemental products now selling aflac branded dental vision products along with life and disability insurance joining me to talk about state of affairs of a fantastically ceo dan amos great to have you welcome back. >> thank you for having me maria. maria: assess business for us, dan we've been taking about an you on even pom for corporate america and certainly, retail given inflation numbers what are you seeing in terms performances right now outlook for the new year. >> well -- we just finished the best nine months in the company history in terms of profits. the reason for that is that we
had lower claims than we had expected, due to people not going to the doctor or remaining at home that will change as we move forward we are already seeing go back to more normal, but in doing that, the -- the negative side of it is that people do not go to the doctor and have check ups people that would say have gone for annual checkup, i had this happen to a friend of mine's wife, she waited two years, then went and had an examine they founded level 3 cancer in insurance business means more claims going forward, and, unfortunately, can affect their life expectation to a degree. so one of the things we're trying to learn is in new
environment of covid how long is the tail of future claims certainly within with actuarial expectations but in earnings 2021, made a difference. >> i think you made an important point dan i am glad that you made it. we've been talking all morning about inflation, how much have you taken prices up are you expecting premiums to go higher in 2022. since almost the beginning of time, health insurance goes up every year or health costs go up ultimately makes insurance go up. the way our policies operate is they are indemnity in nature don't go up, but if the -- if the actual costs are going up you don't offer a new policy with higher benefits then they one of the as much coverage as they need so, yes,
we go back in we offer new products every two or three years, to upgrade them but that is our way ther of not requiring rate increases so that is ultimately how it works. maria: so what would you expect for 2022 in terms of premium increases? well would good news profits of all-time highs. our revenues are still up but, ultimately, we want to see our new sales that is what in this covid environment has hurt us. it has been new sales. so he we've had to adapt in the company that predominantly sold an employer-employee environment sold at workplace. a today the way we operate can do through intranet selling to
gig economy having agents deal with them direct over internet, so, things are really changing just to give you a statistic, that will kind of -- tell you everything, is people don't like change so although we've been trying to get them to move to technology, covid is actually helped from that standpoint. because, for example, our agents, our customers or groups but in case of customers, we've seen it go from two years ago, to where we were in 40% area of people submitting claims electronically to this month hit 71%. we look for it to continue to go up to where almost all our business, will come in electronically, will let us pay claims faster, and more effective, and so ultimately, there is some good that came out of these things. maria: yeah, i i mean you you've got to be investing more in technology with more people working from home.
as a result of this pandemic. and you've got new tools, as a result of the gig economy, tell me about your investment in technology, and whether or not you are going to see business change in the coming years because of these new tools technologywise. >> oh absolutely. going to change, and what i stress this is my 31st year as ceo, only warren buffett been around longer than me fortune 500 i have seen a lot of things change never have i seen the speed at which it is changing now i have seen more changes in last five years than i saw my first 25 years. i attribute it to technology, so how we approach these things are going to make a big big difference i stress evolution not revolution you
need to change constantly to do that example claims area people filing claims with us, for example, we are almost he totally paperless now everything comes through computer versus paper application making it more efficient allows us to get updates to the customer much faster. so it is very good for us, and -- what is in the future we just don't have any idea exactly how it will unfold but certainly change will be a part of it. maria: a great story dan so appreciate you joining me today, i want to get into japan, was a big topic of conversation at your investor day, but we will do that the next time i am glad you got aflac duck along as well, your marketing campaign has been so great. >> it this particular one called my special aflac duck
give it to all children in united states with cancer give about 13,000 away, i won't go into all details but they are quite he novel over 200 days are apiece helps children that have cancer, work with and understand what their going to be going through. maria: we've talked about this in the past i just love this program. the aflac duck making a difference in children's lives, thank you so much dan. great story there. >> thank you for having me. >> congrats on that tenure dan amos ceo afractionally two biggest adversaries meet today china and russia my i guess will weigh in on what zhengli-vladimir putin meeting means for u.s. policy, stay with us. . with access to financial advice, tools and a personalized plan that helps you build a future for those you love.
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they say relacingss reached unprecedented high level joining me former radio free president former deputy national security adviser for dike cheney stephen yates here thanks for being here what are you expecting putin and xi jinping to discuss today? thank you this is not this is not a marriage based on common long-term object rejectives, marriage convenience very big things they have in common trying to attack the sovereignty of the country near and abroad globalists have been permissive about the pullback on issues like borders, what it means to be a sovereign country, so, are whether it is china moving revisionist toward china, russia ukraine have in common block and tackle for each
other internationally that way. >> how concerned should we be that two of america's biggest allies i'm sorry adversaries have become such allies china and russia major adversaries of america third one iran. these leaders are becoming allies. >> we should be concern partly because the idea, is largely fix as much as people want to vote we can handle two crises at once these are two very significant events if russia were to move on ukraine same time china moving towards taiwan i hope that isn't what plays how the we would be hard-pressed to try to deal with both at once they know that because they can put pressure also, doing things for he demonstration affect the more ethic be bully pushes back united states more other countries feel they need to concede, so this is a message
by putin not just of ukraine but other parts of europe, and with china, it is aimed at other parts of asia we have secretary blinken going to south asia if china flexes muscle united states doesn't do much to help them protect themselves it is net china advantage you make great points i guess adversaries smell weakness after all, let's talk policy from the biden administration, first they allowed in order nord stream pipeline to go through russia providing gas and oil to europe, then the biden administration pretty much doesn't contain china communist party they were never questions on origins of cove allowed so much to happen in terms of you know invading other countries stealing
intellectual property two administrations told us genocide going on the "financial times" is reporting the administration is getting ready to add more companies to the blacklist chinese companies for surveillance of uighurs in xinjiang region the "financial times" reporting 8 companies will be added to list tomorrow among them d.j. i tangibles i have reported purchased droves from dji, everybody knows a national security threat already surveilling us your thoughts. >> the other two much larger integrated into way of life more concerning other areas globalists eroded supply chain failure to have clean supply chains for technology vital
goods a major achilles heel for west adversaries exploit that supply chains go both ways relying on products from potentially slave neighboror camps in china's northwest but being complicit to build smart prisons what a euphemism a way of macs mooidzing efficiency of slave labor to support the world, so we need to make sure, that there is a significant decoupling, transparency accountability make sure companies others playing by same rules of transparency accountability. thats has not been the case for decades preceding us going to be a hard adjustment going to be resisted. maria: we're not doing that policy on china had no ticket, look, there is a reason xi jinping could throw everybody in jail in hong kong provide india kill soldiers at base of
himalayan mountains or stealing intellectual property. when are we going to do it even companies going on blacklist subsidiaries of those companies still in major index funds enabling american citizens investors to fund expansion of the chinese communist party by buying very company stocks that will be used to overtake america. >> right, i think transparency accountability going to have to be built from ground up in america i wish faster i wish we had better loirl more meaningful ways we need to get local state punctuation funds out of business of investing into questionable areas arm them request due diligence so they are aware of it they can do things at local state level that bull momentum until people feel shame a punch for doing wrong thing will keep doing it because it has been profitable for them. >> good to see you. thanks very much for all your
worker's comp can crush a small business. every year it would jump 5, 10, 15, 20 percent - even though there was never any claims. and that's where i was struggling as a growing business. i'm very happy that i moved over to pie for my worker's comp. from start to finish, it was extremely easy. they quickly came back to me with a plan that was affordable for me so that i could grow my company while not breaking the bank. ask your agent, or get a quote at easyaspie.com. it's our holiday savings event on the sleep number 360 smart bed. it senses your movements and automatically adjusts to relieve pressure points. and its temperature balancing so you both sleep just right. don't miss our weekend special. save 50% on the new sleep number 360 limited edition smart bed. plus, 0% interest for 48 months. ends monday.
stn.stn.n. how doho yw lw that l?thth i bet it etwas etqur get your f sd in sd tha s is in new york city. >> it took 8 hours to get there. i hope they didn't order seafood because it doesn't go very well but i would be a good 30 or 40 pounds heavier at this point. dagen: good to see you. have a great day. "varney and company" begins right now. stuart: good morning. i know it is said day. senator manchin talked with the president about bills back better, it is very important and we will cover it all. a shoot across the president's about from an op-ed in the new york times. bret stephens writes this, biden should not run aga