tv The Intelligence Report With Trish Regan FOX Business November 30, 2016 2:00pm-3:01pm EST
going! thank you so much. breaking this hour, we are seconds away from the fed's report on the overall health of our economy. im trish regan, welcome everyone to "the intelligence report". it's called the beige book, let's hope it's anything but beige. to peter barnes. >> reporter: hi, trish, the beige book says the economy continued to expand cross most regions this fall. four growing at a modest pace and three others growing at a slight pace. this is the beige book, the report of anecdotal report of economic activity that the fed will use in the next policy meeting in mid-december on. the jobs market, a tighten in labor market conditions was reported in seven districts with modest growth on balance and on inflation, it says there has been slight upward pressure on overall prices. it does cite the strong dollar as being a headwind to exports
as we know, and also want to let you know that the fed announced today that the beige book will be getting a makeover starting in january. here's the new cover. it's beige. back to you. trish: still, beige, i was hoping they would go with red or something new. peter barnes, thank you very much. we've got a lot to cover this hour, you got oil prices soaring following opec's agreement to cut oil production for the first time in nearly a decade. today's change nearly a 10% increase, $49.72. and president-elect donald trump tapping two of the greatest minds in the business world to join his cabinet, steven mnuchin for treasury secretary and wilbur ross for -- listen to this. >> we're going to have a plan to make sure we drive growth in this country. our number one priority is
sustain 3-4% gdp. for the last 15 years the american worker has gone nowhere. this administration is about putting them back to work and creating good jobs. >> 3-4% after 1-2%, if that? speak of jobs, carrier has reached a deal with donald trump to keep nearly 1,000 jobs in indiana instead of moving them to mexico. it's important symbolically, all of this as donald trump says he's cutting ties with his business to focus on making america great again. details later in the hour. first to the state of the economy, where we're heading from right now, and whether donald trump is really going to have that big an influence? things like carrier, they matter to sentiment. i'm going to jeff flock at cme, lori rothman at floor of the new york stock exchange and former member of trump's hispanic advisory committee steve cortes. steve, you heard what i was saying, i think the carrier
deal, it's only a thousand jobs in indiana but lifts people's spirits. we're going into the holiday season and how happy are the employees that they voted for him and they have a shot at taking care of their families. this is one of the feel good stories, i think reverberates. your thoughts? >> trish, and you're so right. we need that flight front of christmas, a bunch of hard-working people keeping their jobs, and you're right, in the totality of the country, a thousand jobs isn't material, the symbolism very much is. while the policy is important that the administration is going to unleash particularly regarding taxes and regulation, what's equally important is the animal spirits, the economy largely thrives on confidence. i can tell you, i live in chicago, generally blue city. i know a lot of people who didn't like donald trump, didn't vote for him. many of the same people particularly business owners, when i talk to them about the economy, they're getting excited. hiring people. talking about investing.
that optimism can become a virtuous cycle. trish: absolutely. when president obama got to office and talking about the economy and he was a downer all the time, eventually he tried to change that to say hey, look at the jobs i'm creating which no one believed because they weren't paying anything and they were part-time. part of it is the mind-set of the americans and businesses, lori rothman when you keep saying i'm going to tax you more and require that you do this, this, this, this and this, the mentality of the white house, they were nervous about the white house. >> the market sentiment, you make a brilliant dime come november 8th. you can see the trump rally continues today with the exception of the nasdaq because we know some of trump's policies have been a little tough or technology. when you talk about a corporate tax cut, and when you talk about deregulating financials,
this place loves it. you have the dow and the s&p at new records yet again today. trish: let me play for you sound from steve mnuchin how we're going to get lower taxes right off the bat. here he is on fox business. >> two aspects, there's tax reform and regulatory reform, those are the two things that we hear. but i think as it relates to taxes, people understand we have to simplify the system and make the united states competitive. and that's going to be our priority. trish: there you go. look, the reality is steve and jeff, i'm going to get to you in a minute on oil. steve, we're facing serious competition from the likes of mexico and china in the way of cheaper labor, and frankly, i don't think we can compete with our because our living expenses are that much more. but there are other ways we can compete, right? >> absolutely, and trish, listen, thankfully our workers are among the most productive in the world. trish: very true.
>> we can't compe t we have to take off. i liken the american economy to a runner weighted down, we're wearing a weighted vest. we can run a lot faster than now if we take the vest off. the vest is government. primarily regulation and taxes. if we take that off i believe we can accelerate and do so rather quickly. this is the main reason that my candidate is now the president-elect, that he spoke in a very clear and concise way to the american worker who hasn't on average had a raise in this century, and we have to put a stop to that. income inequality is largely due to government policy. i believe trump's policies with able team he's constructing is going to alleviate that in a serious way. trish: to jeff flock in chicago in the oil pits. oil seeing quite a day. tell us what's going on specifically when it comes to opec? >> we are right at session highs, within a nickel of session highs, it has risen all day because of opec, the first
time they have reached a deal to cut production since 2008, and you know, you talk about donald trump, is there a piece of this that can be attributed to trump? i think probably there is because if opec had thought that under a clinton presidency maybe you get a chilling of exploration in the u.s., maybe the pipelines get stopped. maybe there are regulations that stop ploration, they know there is no stop to that in the u.s., if they're going to try to control prices, they have to do it on their own, what's that they did today. trish: they're trying limit the supply, but donald trump has every intention of increasing the supply. harold hamm, who obviously, a pioneer in the oil field, is one of his trusted advisers and, in fact, rumored gets the top job for the energy department. harold hamm wants to see more drilling, wants to see us really and truly be energy independent, and i think there's a component that's not just responsible in terms of
our own financial well-being and seeing the american companies succeed, but also, jeff, when it comes to us being less reliant on the middle east. from international relations standpoint, this seems to be a win, win, and there's an opportunity here. >> this is why opec took the action today, they absolutely know that, they tried to put the shale producers out of business already and it failed. and they know that under a trump presidency, you're going to see more exploration, more drilling, more pipelines, that's the reality of it. so if they're going to take action, they're going to have to do it on their own, that's one of the reasons they were able to reach an agreement today of production. trish: optimism, optimism, optimism, it's about time we got some. jeff, lori, steve, thank you so much, you guys. donald trump is leaving his business empire to focus on being president. in a series of tweets before dawn, he's up early, he said --
he went onto say -- we're going to get reaction from karl rove in just a bit. first, the latest from trump tower. i want to go to blake burman for it. hi, blake, in the rain. >> reporter: this has been -- in the rain, here we are again, day two, out in front of tower, yes. this has been one of the outstanding questions for president-elect trump, even when he was a candidate. what would he do as he gets to the white house, before or shortly after to ensure he separates himself from his businesses. as you know, out on the campaign trail, he gave a couple different answershe said he would leave this up to his children. he said that he would put forward a blind trust. then comes this morning, four tweets that he sent out early
in the morning, you read a couple of them which he basically said a couple things, one that he's going to walk away from his businesses d two would be a news conference here a couple weeks' time, december 15th which he would talk about all of this. those were the details that he gave in the four 140-character tweets. every morning there is a transition call us reporters ask questions about the transition folks and reporters asked about this as you guessed it would come up, and the top trump aides said look, the details, we're not going to get into, it there's going to be a news conference and mr. trump will talk about it then. it appears we have to wait a couple weeks for the finite points of all of this. white house was asked about this earlier today. press secretary josh earnest, and he said that what president obama did upon getting into office is a standard that should potentially be upheld. listen. >> president obama took office,
he -- with the exception of his home in chicago liquidated his assets and purchased treasury bonds. the president was willing to put his own financial interests aside and focus on running the country. >> reporter: he also said that republicans control the house, republicaned control the senate, and they should be the runs to strictly oversee the whole process here going forward to ensure that indeed the county is put first and that there isn't a blurred set of lines here between the white house and outside businesses. trish? trish: they'll never let an opportunity go to try and knock him one there. it is what it is. blake burman, thank you very much. mitt romney making nice with donald trump in hopes of securing this secretary of state nomination. this is the picture from last night's dinner. this as trump prepares to go on a victory tour holding a big campaign-style rally in ohio
tomorrow. political guru karl rove is here on all of this and more. i'll see you right back here with karl in two. i use what's already inside me to reach my goals. so i liked when my doctor told me that i may reach my blood sugar and a1c goals by activating what's within me with once-weekly trulicity. trulicity is not insulin. it helps activate my body to do what it's supposed to do release its own insulin. trulicity responds when my blood sugar rises. i take it once a week, and it works 24/7. it comes in an easy-to-use pen and i may even lose a little weight. trulicity is a once-weekly injectable prescription medicine to improve blood sugar in adults with type 2 diabetes. it should be used along with diet and exercise. trulicity is not recommended as the first medicine
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. >> think that america's best days are ahead of us. i think you're going to see america continue to lead the world in this century, and what i've seen through these discussions i've had with president-elect trump as well as what we've seen in the speech at the night of his victory as well as the people he selected as part of his transition. all of those things combined give me increasing hope that president-elect trump is the very man who can lead us to that better future. trish: that was mitt romney praising donald trump, albeit some reservation, he's got increasing hope that donald
trump be the man to really lead us forward. maybe he could have said he has absolute certainty that donald trump is the man to lead us forward. but, nonetheless, a bit of a concession and different tone from mitt romney than back when he called them a phony. it was second meeting and trump is trying decide who is he going to appoint for secretary of state? it's a big one. have you steve mnuchin and wilbur ross who have vowed to take on dodd-frank and other business regulations, joining me right now with thoughts on all this and more republican political guru karl rove. good to see you. >> good to see you, trish. >> so steve mnuchin is saying he's going to cut taxes and it could happen, quite soon, perhaps in the first 90 days, do you believe it? is there political will? >> hold on, hold on. not likely to happen in 90 days, let's temper our
expectations. house ways and means committee chairman braidy of texas is coming out of the chute strong. if they haven't been in touch, the new secretary of treasury designate and he will be in touch as well as the senate finance committee chairman. we got this done, a tax cut that was not comprehensive reform but cutting the personal tax cut rates, took us six months to do it, and it's going to be, if it's a bigger package, it's going to take longer to do it. may take until the fall, if they aren't able to get 60 votes in the senate for it. they have do it through reconciliation, which means it's likely to happen in the fall. a lot of activity done here, great news that the economic team is coming into place and between what's happening up on capitol hill and what's going to happen at 1600 pennsylvania avenue and the treasury department, we'll have the opportunity. trish: ask you about the victory tour, he's going to be speaking in ohio, thanking people there, heading to
indiana, the carrier story, a big one. but the victory tour, if he keeps this up, keeps up this dialogue by going and having the rallies in the country at large, is that something a tool that he could use, karl, to his advantage? if you're trying to get a tax cut through, if you have the people on your side, that's going to matter. >> well, rallies help a little bit in that. what helps more is what he's done between his last rally on election night and today. he's putting forward a serious cabinet. these are really good pix. wilbur ross is going to be terrific. todd ricketts, interesting choice, this is the position that james a. baker iii held in the federal government. important job, and trump reached out to make the commerce secretary wilbur ross and picked the number two guy, a younger guy from a family who opposed trump during the primaries.
shows a willingness to let the past be the past -- >> all right, that brings me to my next question, let the past be the past. talk about mitt romney, do you think he's going to get secretary of state? >> i don't know, i know two things. one is this is evidence that -- this is not personal to trump. whatever he said about romney and whatever romney said about him, that doesn't matter to him. that's the past being the past. what he's looking forward is somebody who he thinks has the stature and the ability to be secretary of state and he's looking at david petraeus, rudy giuliani and mitt romney and met twice with romney. this shows seriousness of purpose. and, second of all, he's looking for the best person and let bygones be bygones. trish: you know all those guys, you have an opinion who would make the best secretary of state? >> i think the chemistry between the president and the prospective secretary of state matters a lot. relationship between the secretary of state and national security adviser matters a lot
and matters in a weird way. secretary of state gets to have opinion, national security adviser best service the president if he or she in the case of condi rice is the impartial judge who brings -- impartial umpire who brings all the available options from the treasury secretary and the secretary of state and the intelligence community. trish: when you start to see these apparent riffs that are spilling out into the public, is that a warning sign in all of this? >> yeah, it is, i've spoken about it before. i don't think the president's aide whether the president is in office or not in office yet serves the president well or the president-elect in this case well by going out and saying i don't think the president ought to do this and told him that privately and now telling him publicly. two problems with that, one it makes the president-elect look weak. staff feels they can take disagreements public and suffer no ramifications, but more importantly and long-term, you want to have a white house in which you have people with
strong opinions who have mutual respect for each other who carry those opinions forward to the president but don't leak on each other and this is a bad signal, you can go into the process, and maybe the principal and go out and say it publicly and no ramifications, very, very bad for the long-term option. trish: to your point, if he's thinking like you, karl, it may be a move that he's not so happy with. >> well, rudy has not been the person, he's been advocating for himself. i'm talking about staff going out and commenting on whether or not it should be romney or not romney. that is the choice of the president-elect of the united states. trish: it's a little odd, you wonder why they were doing that and who was encouraging them to? >> yeah, yeah. trish: any quick thoughts on that? >> i don't know, it's been mystifying to me. in retrospect, i disagreed with governor bush of texas he ought to pick dick cheney, he had me explain in private why i was
against dick cheney for vice president and sitting next to the governor of texas was dick cheney, i had my reasons why. trish: it was all out in the open. >> no, it was all in private and at the end of it. trish: out in the open with you and the president and dick cheney. karl rove, good to see you, thank you so much. >> thanks. >> donald trump making good on his promise to keep american jobs in america, making a deal with air conditioner maker carrier to keep 1,000 jobs in indiana instead of moving those jobs to mexico. he hasn't taken office yet. a little optimism for you. we get all the details on this deal next. >> you think you're going to ship your stuff across the border for no tax, no nothing, you can forget it. this is your daughter. and she just got this. ooh boy. but, you've got hum. so you can set this.
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carrier and i would say, if you leave, there are consequences. trish: well, apparently that's exactly what he did! president-elect donald trump is already fulfilling his campaign promise to keep american jobs here in the united states of america, the ultimate businessman striking a deal with air conditioner maker carrier to keep 1,000 jobs in indiana instead of moving them to mexico. matt sims of fox news has all the details. all right, matt, important to the thousand people in indiana. >> absolutely, trish, you can say this is a life changing early christmas present for the workers who no longer have to deal with the grief of pending job loss, and to show you how terrible of a loss this was to the workers, rewind and show cell phone video captured when carrier first announced it was moving to mexico. take a look [booing] . >> reporter: on thanksgiving
day trump announced on twitter he was talking with carrier executives about staying in the u.s. and days later carrier employees are thanking the president-elect. take a listen. >> i would like to tell him thank you for going out of your way and taking your holiday away from your family and working on the carrier employees' deal and sticking to your word and going bat for all of us at carrier and keeping our jobs here and like to thank him and maike pence for doing so quickly. >> reporter: the new deal promises to save at least 1,000 jobs, yet suggests many others still will be laid off. neither trump nor carrier have released the finalized plans. we expect to hear much more tomorrow when donald trump and
carrier executives will hold a rally in indianapolis. trish? trish: thank you so much, matt. you know, i think this is a very important win for him. for the people of indiana and for the united states of america. in terms of not just jobs, in the face of it, 1,000 jobs in the scheme of things is not a whole lot. you know what? those jobs repres right now, and there's an optimism here i think that we haven't seen in a while, it's helping to put americans in a better frame of mind. it's now that you have a president looking out for american workers, and this is something frankly people haven't felt for eight years. here with more on all of it, illinois congressman joel walsh and jessica tarlov. welcome. >> thank you so much. trish: how much do you think the mood of the country, the mood of the country matters when it comes to the economy and how do you think this small win and potentially others
along the way will really start to change things? >> trish, this is just awesome. i mean this is the beauty of trump, right? he's not a typical politician. he finds out during the campaign that 1400 jobs are going to mexico, and like you or i, he gets really pissed off about it. unlike a politician, he doesn't sit on his butt, he doesn't call committee hearing or form committee together. he gets on the phone and says what's it going to take? he cuts a deal. he does what typical politicians don't do. obama could have picked up the phone but never did. this is absolutely beautiful, and it's going to fire up america. trish: yeah, you know, i think americans need something right now to really start to spark optimism because people have felt so down for so long. you think about the carter years and then all of a sudden reagan came in and the hostages were freed and it created this
momentum for the country where people could start feeling a little better about themselves, and jessica, there are flaws with this and what concessions did indiana have to give and some of the jobs still go to mexico but there's an important psychological headline here? >> that's right. i'm still on my trump positivity tour. trish: this is a lot coming from jessica, folks. just to point that out. >> no, i think it's important, and i agree that the psyche of the american worker we get that back on track is hugely important and can't be underestimated. since he admitted it, there are extra things going on like the incentives that came from indiana and it's not all of the jobs but every job that stays in america is an important one. >> i want to highlight that fact, there are questions about the incentives, et cetera. it's almost as if you needed a mega capitalist to do something like this.
if bernie sanders tried it, right, forget it. people would have said this is socialism at its worst. it's kind of like richard nixon is the one guy so anti-communist he could go into china and start to open it up because you don't come with all the baggage of being a socialist in the first place? >> that's a fair point but not particularly fair if you think about it. i was reading about the deal and someone raised a point if obama had done this, people would have said he's mettling in the free market. trish: right. i'm telling you, we're making the same point, you come with a certain amount baggage, if you're bernie sanders or president obama and you walk in as the capitalist, the guy who really and truly understands what it is to meet a payroll every week, and congressman, there's a certain leeway that you get there, at least with the business community. >> yeah, and again, trish, i think what's so refreshing is trump found out about this, and he reacted like the three of us would to it.
he got angry, and like a businessman, not a politician, he just said, you know what? i'm going to pick up my phone. how many times have you heard a politician say. that i'm going to pick up my phone, what's it going to take, i'm going cut a deal? that's beautiful! >> it's great to see, and i'm going to enjoy this good news as long as it lasts. >> let's see how long it lasts. yeah. trish: those thousand workers there in indiana that are going to have a much happier christmas. >> amen. >> happy for them. trish: quick break, i'll be right back. see me. see me. don't stare at me. see me. see me. see me to know that psoriasis is just something that i have. i'm not contagious. see me to know that... ...i won't stop
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>> for the first time since 2008. there is a 9% there. prices are still settling out there. what a day. it pulled back just a little bit with profit right at the close. the price just continues to rise all the way through the session. some people thought after the press conference if you look at the intraday for example you see when word kind of hit. there can reach a deal on a production cut that is the first time they've done that since 2008. we have the run up then.
maybe people would sell the actual news. they continued to buy and we closed 4944 is going to be your close we got within a dime a 50-dollar oil. if you look at the three month chart last time we got around 50 dollars last october. it was a very big day indeed. >> today the democrats are still in chaos i think we can fairly say that. by ohio tim ryan. i think quite frankly we got the message out that we want to get out. as democrats we need to talk about economics i believe in my heart that if reagan went as democrats we need to have an economic message. we will go to her in a minute.
she said something about doing a dance. perhaps because she dodged a pretty big bullet. president obama blames fox for the parties inability to reach voters. what went wrong in the election he said white working-class voters turned out for trump. i think part of it has to deal with our inability to reach those voters effectively. it's fox's fault. just blame us. it's why they took such a beating in the polls. are you going to blame us also? >> here in every restaurant and every bar and everyone is watching. i would say that we are much
more in touch with your everyday america and american and how they are feeling right now about the economy in a way that hillary clinton and nancy pelosi failed to do. i voted for barack obama. i don't know what i am now. i caucused with him but i don't identify with either party yet. in your view the clintons and the establishment they have failed you why? i think they have an opportunity today and it was to double down on what has been a failure since 2008, new people as he has not won an election since 2008. they been in decline in the house since then or we could bring in a new generation of leadership and we have moved into a different direction. >> why isn't that happening. why do we see nancy stay on?
>> i think there's a movement to try to get new leadership. the second thing is and i think this is very limited aspect a lot of the faces that he chose are fairly known to us. are fairly known to us. even they have a background in business and that. >> these are people who are known to the republican party. my guess is nancy pelosi's argument said i know that here in congress. i do think on the ground in state parties like the one i
run things well had to get shaken up a bit. this is why the democrats failed. don't they need a guy from ohio or someone from the middle of the country that is more in touch with the everyday folks. the democrats are still in a state of denial. they were can gonna slander the voters. sixty-three million americans as all of these horrible things that was the first thing. and then it was fake news. >> i would say as a whole i could play you the clip. the comments he made is one thing. we went to put all of the supporters in that.
i think we can go down that road. they did their very best to they were racist and homophobic. the last one is they wanted to undermine the validity of the election by saying that the russians hacked the race in michigan. they are in a complete and utter state of denial. trish: hears nancy pelosi in her state of denial. >> this is an opportunity and it's a special one to lead the house democrats and bring everyone together as we go forward. trish: i would say we've a lot of work ahead of us. and we have to change.
we are not in the state of denial. we thought it was heartbreaking. this is a point that i'm trying to make. what the congressional folks did on capitol hill is one thing but we have to do this in the state. it goes back to recruiting candidates. learning how and going to areas like that. i will give you a shot of trying to work on that. he said he's firmly behind trump. i sure had a lot to think about. what about the people i care about? ...including this little girl. and what if this happened again? i was given warfarin in the hospital, but wondered, was this the best treatment for me? so i asked my doctor. and he recommended eliquis. eliquis treats dvt and pe blood clots and reduces the risk of them happening again.
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retirement journey takes you, we can help you reach your goals. call us or your advisor t. rowe price. invest with confidence. trish: let's check out these markets. they're both hitting lifetime highs again. they are still up 20%. -- 20 points. it was made right here on foxbusiness. the nominee for treasury secretary said that changes are needed for the dodd frank law. it's too hard for them to lend. they have the highest level they have seen since the financial crisis. anyway i digress. they are pledging after the retailer gave a disappointing stock forecast. we will be right back on
[vo] is it a force of nature? or a sales event? the season of audi sales event is here. audi will cover your first month's lease payment on select models during the season of audi sales event. trish: fbi announcing moments ago that the ohio state university attacker leap to be inspired by isis and al qaeda but it's too early to know if
he was in communication with them. i'm joint onset fight general jack keane. it's good to have you here. do you think this was an isis inspired attack? that he have this communication with terrorist? >> i clearly believe that it is isis inspired for sure. whether it is directed or not we don't know with the communication there. here's the facts. we had people living in america who are radical islamists and they want to kill their file drill -- fellow citizens. we have yet to come to grips with this. they have refused to name it to radical islam. but to explain it to the american people. that is what needs to be done. what is a speech of a radical islam. they're going to school with us.
when that starts to rise up this guy is absolutely radicalized. in his conversations what did you come away with. he's very secure -- concerned about national security and foreign policy. obama, bush, clinton and reagan they don't know much about it. this is a way the way they have to really die into it. -- dive into it. he is committed as he has said in the campaign to deal with them. frustrated to say that.
what is the biggest change that needs to happen. do we need to start looking internally. for the radicalization. the first responders here are the american people. they see the radicalization going on in their neighborhood at work wherever these people are associating with other people. with to educate communities about it. another frequent guest on the show. he is of the islamic faith. islam needs major reform. i'm out of time unfortunate.
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call unitedhealthcare today about an aarp medicarecomplete plan. you can even enroll right over the phone. don't wait. call unitedhealthcare or go online now. ♪ trish: president-elect donald trump continues as he vows to block federal funding. can he really withhold money from the cities. that's the question the people are asking. we are in washington with the very latest. one of the major components of donald trump's ten-point immigration plan. there are literally hundreds of century cities and counties into a six century states. separately there churches and campuses.
it is practiced by the obama administration. it's in a little over a month it will change dramatically. we will see at the federal level and years will already see in texas. nothing i have already done. i've used my powers to withhold funds to cities or counties that are declaring themselves to be in sanctuary cities. we are about to have a legislative session here. we are cannot pass a law banning century cities in the state of texas. they violate federal law and they will likely face severe financial consequences. in this report they actually found that the top ten century cities received three and a $50 million in grants. those are the grants that could be denied. this is funding for police enforcement. these are funds that the city would not want to lose i think they are can probably comply with the new york general.
>> there's no doubt that yanking that will end up in court fights. several of them already underway. he has no plans to cooperate with deportation or seedings. they receive $20 million in federal funding. as a small school and we certainly hope it doesn't come to losing federal funding. what we have said is not cooperate with what would have to be extra deportation proceedings because there's no way you can actually deport 10 million people in one or two administrations. the trump administration has promised a humane plan. not necessarily building the wall. there's been some moderation on that. not exactly what was promised during the campaign. a lot remains to be seen.
trish: he is rumored to potentially be in donald trump's cabinet as energy secretary. send it over to liz now. speaking of oil rally. the black gold did turn the market golden and is continuing to do so at this hour. the record rally. it is pulling back after closing we are now falling a little bit from that. except to close at an all-time record. even as oil has its biggest move. maybe there is a lack of belief that's exactly what